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Showing content with the highest reputation on 03/01/2019 in Posts

  1. 2 points
    Feb 28th (Live) P&L After Commissions: $101 Trades: 7 Today was a good day. I traded very well and I'm happy with the moves that I made. I got out of my losers quickly and I did a good job of letting my winners run. These are the days that I need to replicate. Good first day back live. Going back to sim tomorrow, but will be going live again March 4th. $SQ - 3 trades on SQ. I went long first since it seemed to be holding the 200SMA on the 5 min chart. I didn't like the price action at all and got out quickly. It was then a short to me, so I went short. I meant to sell half but hotkey error'd into selling all. Disapointed about that exit, but there was nothing I could do. I couldn't get back in the trade unless a good opportunity presented itself, so I let it go. Went in long for the 3rd time for a VWAP break, but I absolutely hated the fill that I got. It was maybe 8 cents more than I wanted, so I exited with a small loss because I did not want to deal with the additional risk. I was ok if the stock did move long, knowing I did what was best to protect my account. $BMY - Went for the VWAP break down on BMY. Took too few shares. I normally take about 200 shares for a stock that moves like this. I wanted to add 100 shares and add another 100 later on, but missed the entry on the second 100. Took profits on the way down to the 200SMA on the 5 min. On my last exit, you can see I covered the partial and the rest. I was about 5 cents off the target and with the few shares I had left, I felt it would be better to just get all profits and exit the trade. $CELG - I had this one my reversal watch since the morning. I saw it making its way up to a reversal and holding a ABCD pattern. I usually dont take things before they cross the 50 on a reversal like this. I liked the price action and the way it was holding so I entered in. I almost chickened out of this one even though it never really went against me. I knew I just had to make it to the 50SMA to feel comfortable and from there it would go. My target is usually the VWAP in these reversals, but instead I decided to put the target at the 200SMA that was basically horizontal. I figured that would be just as tough to break as VWAP. I sold on the way up to the 200SMA and left 25% for the break of VWAP and beyond. It couldn't break VWAP and I sold on the way down. I should have sold some at VWAP since that is the usual target, but I am happy with the trade overall. Overall much better trading today and recently. The biggest change for me was watching my watchlist that I make in the morning. It has helped reduce my FOMO significantly and I am waiting for trades now instead of searching for them. My win% has gone up and the % of long trades I take has gone up as well.
  2. 2 points
    Thursday February 28th, 2019 Sleep: 7 hours. Mood: good, ready to trade. determined to take setups today and not repeat the previous two days. First trade of the day was an ORBU in BOX. it made a beautiful 2min ORBU and i liked the price action so i got in right at the body of the candle. This was a FOMO move. i don't want to be trading in the first 15minutes but i really liked the price action. the issue was my R/R. i set my stop at the $19.58 level and the 2:1 R/R would have been around $20.60 and it just couldn't pull through the HOTD. i should have got out sooner but i changed my stop to break even and got when it finally gave up the $20 level. if i would have waited for a pullback and a new 1min high, i could have been taking profit at the HOTD and not holding out hope for a nice run. GOOD: got out at breakeven, planned my exit RFI: FOMO entry with a bad R/R MOOD: fine, not happy about not planning a good R/R but handled the trade well once i was in CONSISTENT: yes. Next trade was a short in JD. it did a false breakout then started making new 5min lows trending below the MAs. i tried to get in right at a new 5min low but it fell so fast i got a bad fill and it killed my R/R so even though i hit my profit target and got out, i only made 1.3R profit. GOOD: got out at profit target RFI: need plan the R/R better MOOD: happy that the stock did what i expected CONSISTENT: yes. Next i tried and engulfing reversal in JD. i shouldn't have taken this trade because it's not one of my planned setups but i liked the 15min candle and it was really extended from the VWAP so i thought it might turn around and buy back up. i got in on a new 1min high but unfortunately it couldn't make a new 5min high and then huge selling pressure pushed it to my stop. the SPY sold off and took me out of this trade and my trade in BOX. even though it's not one of my setups, it was a good R/R with a set stop so i'm happy with this trade. GOOD: planned trade, R/R RFI: not a setup i trade. MOOD: good, but not happy about losing money CONSISTENT: yes. Then i let the trading get away from me a little bit. i got in short on another pullback because it looked really week. i was hoping to get to the PDC under $26. but once i was in the trade i'm seeing that 1. it's not a setup that i trade, it's not a setup at all. 2. it's bouncing off the 200 MA on the 15min chart and then 3. it's down so much since the open it's due for a pullback and the final thing, 4. it made a double bottom. so i flipped my position and took risked the LOTD the $27.37 level. i put in a range order and had to leave my computer. i came back to find i was right on my reasoning and got filled right at my profit target. GOOD: got out of my bad trade and got in to a good trade. RFI: shouldn't have taken the first trade. MOOD: concerned about my flipping positions but glad that i could see why i was likely wrong and fixed it CONSISTENT: not on the first one but yes on the second trade. What i did good today: Did not hold any of my losers past my stop. What i did bad today: the engulfing and no setup trades in JD were unnecessary and turned a good trading day in to an ok one. What can i do better tomorrow: Only take setups Other comments for tomorrow: Trade your setups and respect your stops are the two most critical pieces to a good day of trading.
  3. 1 point
    Hi folks, here is a copy of the playbook template I discussed in the Feb 14 recap. The file is obviously a sample meant for each individual trader to complete with their own strategies, patterns, and setups. https://drive.google.com/a/bearbulltraders.com/file/d/1bmu3XzT_KtzTfya2Fo7Uqc7DZG_N7q-B/view?usp=sharing Please download a local copy as .xlsx
  4. 1 point
    Friday March 1st, 2019 Sleep: 8 hours. mood: good, ready to trade. Quiet morning First trade of the day was an ORBU in MU. saw a good R/R with VWAP to a little past the HOTD so i got in. added more on a new 1min high so i had 70 shares at an average of $42.13 i was risking the VWAP at $42 so i had to get to $42.39 for a 2:1 R/R. but i started taking partials before that and only had 25% left when it hit my initial profit target. i set a range for b/e and the PPDH and got filled at b/e after it made it's first 5min low of the day and then fell apart. my reasoning for the partials was i'm not taking profit when i get the chance so it sounded good at the time but then when i see my actual P&L compared to what it could have been with my original plan i see why i wait. i made like $4 after the $5 in commissions. had i just put in a range to sell at 3:1 or 2.5:1 i would have came out way better. also i'm taking notes on whether i should be getting all out at new 5min against, in this case it would have made sense. GOOD: patience on the trade and adding more when it went my way RFI: getting cold feet and making no money on a good trade. MOOD: always happy to not be in the red but disappointed in that trade. CONSISTENT: no, sold too early. Last trade of the day was in NTNX. it sold off all morning and made it's way over the VWAP. i figured this was probably a VWAP false breakout so i got in short on a new 5min low below the VWAP with a stop at $35.20 i'm glad i waited for a new 5min low below the VWAP but that was a 50cent stop loss so i had to make a whole dollar to get a 2:1R which i didn't like. good idea but i could have got a much better entry. i wasn't sure the trade was going to work so instead of worrying about it i set a range order and sat back and watched. i did deviate from my original plan of selling everything at 33.76 and did half at $34 and half at $33.76. once it hit the LOTD it fell off big time but i was already out of the trade. GOOD: recognized a good trade even though it's not one of my go to setups RFI: have to get better at getting in to these trades. the better the entry, the easier the trade will be. MOOD: glad to finish the week green but i could have made more money CONSISTENT: yes i think it was reasonable to partial at the whole dollar even though it wasn't my initial profit target. What i did good today: Calm rational trading. What i did bad today: butchering my winners with too small partials. What can i do better tomorrow: set your range orders and just watch to ease your anxiousness Other comments for next week: good job the last two days. still red for the week but feeling much better about my trading. I know i'm slowly getting better, it just takes a lot of time. i'd rather have days where i'm taking rational small winners than days where i'm going crazy and hitting my profit target but probably hitting max loss.
  5. 1 point
    February 28, 2019 - $JD (Hit Profit Target) - Than the bad news came when I looked at my closed position and saw the account number was my simulator account. Huge trading error today by not verifying I set my order setup back to my live account. I am counting this as trade for the sample set only because for the entire time I was in the trade I thought I was in my live account. It wasn't till I opened my closed position that I realized it was Sim. Sample Set Results P G S G S 6 7 8 S S P G G 14 15 16 17 18 19 20
  6. 1 point
    Wed, Feb 27, 2019 Total trades: 2 Total volume: 200 Closed P&L: $-35.50 Sleep: 5 hours Continuing education: Still reading through and absorbing Trading in the Zone. I believe this book is the most important asset I can use to become successful as a day trader. The psychological reasoning in it is very compelling and I am trying to keep the things I read about in it in my mind even during my simulator time. When I trade goes against me I need to objectively analyze any mistake I may have made that caused this. If there does not seem to be a mistake, then I can assume that the trade went against me because of the statistics of day trading (you can't win them all) and I do not need to worry about it. I will start recording my sleep like other members do in their journals. Seems like a good idea to see how sleep affects day trading performance. I will also have a small section on continuing education. I will put things such as rewatched Bear Bull Trader vids, watched vids from the Youtube channel, and book reading under this. If anything that I learned or relearned sticks out, I will make a note of it. Reached max loss of 1% on the day, but learned some very important things. I did not get pictures of my trades today as I was planning on doing it later in the day but ended up spending 7 hours straight on a math modeling problem set instead. These are my 2 trades: BBY Feb 27, 2019 09:45 Shares traded: 100 Closed P&L: $-15.50 Saw what appeared to be a VWAP False Breakout on $BBY so I went long at $69.310. Got stopped out at $69.00. I feel like the trade was decent and I had a good RR here, just happened to have it run against me. Perhaps I need to give VWAP False Breakouts more time to develop, and not be looking for them in the first 15 minutes of the market. I will reread Andrew's second book on this section to see if that is mentioned. TNDM Feb 27, 2019 09:53 Shares traded: 100 Closed P&L: $-20.00 I was looking for an ABCD pattern here. Saw a second wick form at what appeared to be the support formed by "C". The price started to move up from there and I entered early at $64.26, just slightly above that wick. Profit target was high of day and stop loss was $63.95. I feel like the setup was great on this trade. However, my problem occurred during the trade execution. The price went up to about $64.70, and I failed to take a partial! The reason I did not take a partial here was because I thought the amount it moved up did not equal such a large percent. The graph did not look as if it moved that much. I need to pay attention to the actual percent value of price movement and come up with a loose partial target in my head before/during trade entries. I believe I got filled poorly, resulting in me going past my $15 loss limit per trade, suffering a $20 loss. Or perhaps it was the price just dropping really fast and I did not click my hotkeys soon enough. Bad mistake on my part and will be remedied by turning on the Risk Control functions of DAS. I will turn those on after this journaling. This would have been a very solid trade if I had not let a winner turn into a loser but instead I reached max loss of 1% on the day. These are important things to learn and I feel good about the information I got from taking those trades. Thurs, Feb 28, 2019 I was not able to do anything today for day trading due to being at a physical therapist for a broken arm. Will be able to trade Friday and I will have pictures of my trades this time.
  7. 1 point
    Thursday 2/28/19 Well being score of 4.5/10. My one allowable trade was with AMD. Traded terrible today. Broke 5 different trading rules. That may be a record for a nonHulk day. Broke 3 setup rules, though none of them consciously, just very carelessly. And broke 2 execution rules. The 2min ORB setup: I was playing a bit of musical chairs at the open. JD was on my main chart. Though moving it was not setting up for my 2min ORB criteria. Then I moved MU to my main screen. Then MU’s set up went a stray. Then I watched AMD from one of my smaller charts and it was setting up. AMD had a STEP setup and there was a drawn tech level (though weak – yellow) but it was across the 50SMA making it a stronger tech level. I don’t know if the price showed any respect to this level, since I was transferring it to my main chart at that time of it moving past it. As soon as AMD was on my main chart I saw it was just pass the TL. For a split second I thought to check the time, if it’s too early, but didn’t and took the trade. Rule break 1) The price was well beyond the Bolinger band and thus vetoes the trade. The smaller chart doesn’t have the B-Band and I was rushing and didn’t notice it before I took the trade. Rule Break 2) Terrible risk/reward. From my small chart, I thought I had a good R/R from VWAP to the 200SMA. I did not verify this on my large chart before I took the trade. Then 1 sec after entry the price went up which then brought a strong tech level (at 23.48), a few cents above my entry, into my view on the chart. If I saw that tech level the terrible R/R would have vetoed the trade. Rule Break 3) I should have at least checked the clock. I took the trade a few seconds earlier than the 9:31:45 limit rule. Thus a few seconds waiting would have given me the time to double check the trade and realized how bad it was. Rule Break 4) I had a well being score of 4.5/10 so I was supposed to trade half share size, but I went full share size. Honestly I just forgot. Carelessness. Rule Break 5) Once you realize you are in a bad trade you need to immediately get out. I didn’t. Finally when the tech level was shown to bounce 3 separate 1 min candles, thus showing a setup for a short, being long seemed pretty ridiculous. I exited with a 0.4R loss. What I did good today: Well at least I got out above my planned stop out. How did I challenge myself today? Some stress I needed to fight through being the last day of the month. I usually trip at the finish line, so there was risk I would go hulk today and destroy an OK month of trading. But, at least I stayed to my one trade rule and prevented that. What I did bad today: Broke 5 rules and traded AMD again!!! What can I do better tomorrow: I am always going through my setup checklist. When I finish going through it in my mind, I go through it again with the new data the market has brought me in the last few seconds. So I don’t consciously say to myself, “does it pass the checklist?” Because if it didn’t I would have vetoed it. But, today's failure brought a good point. When I transfer the ticker to the main chart, which has the most information, I must re-evaluate before taking the trade based on the larger chart with more indicators. If I miss the trade, so be it.
  8. 1 point
    February 27, 2019 - Nothing today I was watching $MYL, $SE, $ENTG. Nothing met my trade plan. Sample Set Results P G S G S 6 7 8 S S P G 13 14 15 16 17 18 19 20
  9. 1 point
    Hi everyone! I used to be a very active manager of my family's retirement and savings. Got distracted from that for about 15 years (kids!), but now that they are older and my life has settled down again, I have restarted my active trading. I am a youtube junkie and an avid reader, so Brian's Swing Trading book and bearbulltraders videos caught my attention....and now here I am. So long term goal is to transition out of my current career which is a Web Developer, a.ka. the Marketing Janitor. (Small town, tiny marketing teams in my accounts means I am the clean up gal instead of the go-to gal). Looking to learn a lot more being here to hone my individual style.
  10. 1 point
    Hello, I'm Darwin, I'm 19 and I'm from Long Island, NY. I have been trading since I was 17 (used parents name) and I used to be trapped with penny stocks for about a year but then decided to transition into mid caps and a little large caps and I have been finding it a lot easier. I currently have an amazon fba business and doing stocks and I do a little uber driving on the side. I just love working for myself.
  11. 1 point
    Hi everyone, my name is Katerina, born in the Czech Republic but living in London, England. I am stay at home mum at this moment but my profession is an Accountant. I started learning about day trading about 4 months ago, joined this great community last week and looking to start paper trading in few weeks or so. I know I have plenty to learn but I guess we all have to start somewhere.
  12. 1 point
    After getting my CDL license I finally started making real money and my savings added up over the next four years. I wanted to use the savings to create an opportunity for myself to escape the average day job. Searching for ways to do this I came upon many ideas and heavily read about real estate investing. It didn’t feel like the right time for that, but a few times I heard about this day trading thing. Did some research and found Andrews book in the fall of 2018. Ever since then I’ve been hooked and doing everything I can to learn more. Fast forward to January and my wife wants me to quit my job so she can have a break from our new born son between work shifts. This also gives me a chance to practice day trading full time. So just this last week I have left my job for an estimated six months to help my wife with the kid and try to turn day trading into a career. I think Andrews style is the absolute best because I love how much he stresses risk management. Since January I am trading live with 100 to 500 shares. As expected, I have been going sideways with wins and losses. Studying my trades and making adjustments. I am in this for the long run and know that being a part of this community will help me reach success.
  13. 1 point
    Hi Guys my name is Aaron, I'm a Security Service Engineer from Nottingham in the U.K. Ive been papertrading for the last 6months just getting use to position sizing and risk managment with large cap stocks. I haven't really used any strategies yet as I believe these are one of the last things I should learn and I will only learn one at a time anyway. The next thing I would like to get knowledge of is tape reading, (Can anybody reccommend a good book or course)after that I will begin with the Orb Strategies long/short. Wish you all the best speak soon
  14. 1 point
    Hi, My name is Tarek. I'm Egyptian living in United Arab Emirates (Middle East). I'm a pharmacist by practice, MBA holder from Manchester School of Business (April 2019). I currently work in a pharmaceutical company. My interest in stock market started in Dec 2017, while the crypto currencies boomed i managed to double my account (by chance i thought i knew how the markets work). by the time crypto slide downwards, i was on the wrong side and blow up the account (Still holding XRP). At that point I realized i need some education. searched the internet, watched video's on youtube and searched for books. I came across Andrew's book. I traded on SIM from a month and thought I can make it now. Jan 2019 i started a new account, I blew up 40% of the account in less than a month. at this point I realized i need to join a community. I searched the internet and could not find a better community to be part of. Tarek ElArabi
  15. 1 point
    Hi ! My name is Ryan, RHadley is my user name, I believe. Father of 3, VERY YOUNG Grandfather of 2...clocking in at 43 yrs old, I think ? ...and we are in the northwest burbs of Minneapolis, Minnesota. My background... I am a Journeyman Electrician of 20+ years. Most of that time spent working in Minnesota & the Dallas/Ft. Worth metroplex. 2 years ago I was hired as a data center Operating Engineer for Optum Services, Inc....the technology division of United Health Group. When not working...I am camping, backpacking, kayaking, listening to music or road tripping to go do any or all of those things...either that or at my son’s hockey practice/game/tournament, which is ALMOST a second job. Very much a newbie at day trading ! My only brush/experience remotely related would be activly managing/trading my retirement accounts & a small “fun” account at Robinhood. All of which I’ve been doing almost blind, very little education, research or method behind my moves. A wee bit of news, gut instinct and advice from my dad is all. I’m not currently down or out money...but not very up either... Strange right !?! I can’t claim I’ve always wanted to be a day trader or been in to finances for that matter BUT !! I’m 43....having just barely made it through the 2nd Great Depression around 10 years ago, especially in the construction trades...I am highly motivated to learn a new trade and in a very serious, very calculated risk/reward way, make up for lost time. My current job is a good one and I plan to keep it through retirement. I’m more behind a desk these days than working with tools, it’s a good balance....and also gives me the unique opportunity to focus on other things, such as day trading. I pack 40 hours in Friday night through Monday morning and I am off work M-F. I am very optimistic about having joined this group and look forward to picking your brains for all the advice/education I can get...or you can stand. If you see me out there...be nice ! I’m kinda socially introverted, even via text/online. Take Care ! Thanks for your time !
  16. 1 point
    Hi all, My name is Tommy, i'm from Belgium but i live in japan for a little over 6 years. working as a service engineer so traveling a lot across japan. that's a full time job which i have no intention of quiting. at least for a few years to come. i'm a beginner trader , started last year trading penny stocks, that went actually fine for a while until it didn't anymore... and gone were the profits. i stopped for a while since i realized i really wasn't sure what i was doing, came across Andrews books and i liked them very much. made me wish i read those before i started. i looked up about bearbull traders, and decided to join. few reasons are, i felt a sense of honesty in this community, and i realized its actually not good to trade on your own especially when you don't have much experience yet. i look forward to checking all the content on the site and with your help becoming a confident trader. grtz, Tommy
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