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Showing content with the highest reputation on 06/27/2018 in Posts

  1. 1 point
    This is Andrew´s new ORB TI scanner that Andrew is testing: http://www.trade-ideas.com/Cloud.html?code=a151665e41a756e75f8805afaa78c073
  2. 1 point
    My favorite mistakes (favorite because I make them so often): - Taking too many shares in hopes of a bigger profit. When I do this, to avoid going over my max risk on any single trade, I inevitably set my stop loss too close to my entry, which means that I'm much more likely to get stopped out before the stock truly moves against me. - Not being comfortable with the possibility of losing money on a trade. When this happens, I either stop out too early (taking a small loss only to see the stock go against me, having never hit my target) or take profit too quickly at the first sign of resistance. Stocks rarely just go through the roof and not recognizing that pull backs are inevitable, even for stocks going in my direction, is a great way to cultivate FOMO. - Not stopping once I have a decent profit on the day. I've come to believe that your profit target should be set to be some multiple of your maximum risk on any one trade. If I decide that my max risk ® on one trade is $100, my profit target for the day should be something reasonable like $150 or $200. Once I make $100, I find that my fear of losing those profits often results in placing tighter stops, which makes it more likely that I slowly give back my profits to market choppiness. After recognizing this, I've started switching to sim once I hit > 1 R. While it's below my profit target, I'm happier to slowly grow my account every day than ruin my day with the regret of having given my earnings back to Wall Street. - Jumping the gun around VWAP. When stocks get near VWAP, they're truly like a tennis ball that clips the top of the net. Instead of gambling and guessing which way it'll go, I've discovered that it's best to accept that you might get a worse entry, and simply wait for a sign of the VWAP being lost in one direction or another before entering a trade. Otherwise, you'll find yourself chopped out.
  3. 1 point
    My biggest mistakes include, but are not limited to: -Revenge trading. Repeatedly trading the same choppy stock over and over as if it personally owes me money. -Over trading. Thinking I can recover from losses by taking low quality setups in rapid succession. -Not stopping at daily goal or 11:30 AM. Slowly giving back all my gains. -Not stopping out. Freezing like a deer in the headlights and letting a small loss grow into a big one. -Not taking a break after a bad trade. Continuing to trade when my psychology is in tatters. -Thinking I need to be in every move. Forcing bad trades rather than waiting for the chart to provide confirmation. -Increasing share size when losing. Trying to double down and recoup losses. After seeing how consistent my trading can be when not doing the above, I've realized that trading is 90% psychology. When I'm able to be disciplined and controlled, the money comes easily. When I regress and repeat bad habits, losses can quickly spiral out of hand.
  4. 1 point
    Viet, which version of DAS are you on? This feature was only added in 5.2.0.15. To check your version, go to Help > About To update, go to Tools > Auto Upgrade
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