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Showing content with the highest reputation on 03/03/2019 in all areas

  1. 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
  2. 1 point
    March 1st (Sim) P&L After Commissions: ~$113(SIM) Trades: 7 I went back to sim for today as planned. Again I traded very well. I kept my losers small and let my winners go. $ZS - I'm really proud of this trade. I took this as VWAP trade. I missed the entry on the minute before and didn't think I would get an opportunity. I was fortunate for it to come back down to VWAP so I entered. I really liked the entry because it above all moving averages on the 1 min and 5 min and was a bullish engulfing crack. I felt this a very safe entry. I still went smaller share size regardless and took profits as it moved up. I was managing the baby at the time as well (which is something I shouldn't be doing) so I decided to exit fairly quickly with profits. $GPS - I had an immense feeling of regret as I entered GPS the second time. I first took it short for a VWAP break, but since I was trying to be really protective of profits, I exited out of that trade right away. I knew I got scared out of it and as it was coming back down I reentered. I did not get an entry I liked and I was worried that I would have the issue where I got out of a stock for a loss and reentered the same trade to take another loss and in this case since I had a poor entry it would be a bigger loss. I couldn't stop thinking for the first minutes of this trade. I almost considered exiting at B/E, but decided to stay in. It never broke my original entry point on the first trade, so I didn't exit. I sold on the way down hoping for the break of low of day, but eventually had to stop out on the way back up. $SQ - Tried 3 times on this trade. I could have been done for the day after GPS. I first took it short and exited within the same minute. Then swapped my position to long and got out at B/E. I then stepped away from the computer for a few minutes to take a break. I am not happy about my decision making and impulse control but as soon as I got back to the computer this looked like an obvious short to me so I had to take it. I was planning to have been done, but I took it regardless. Worked out, and made almost $50 on the trade. Overall a great sim day and I am very happy that I've been trading much better since I got to sim. I will be going live again on Monday and staying live. I need to bring this patience to my live trading. I'm not sure if I will be continuing my journal here. My yearly membership is expiring next week and I wasn't ready for the expenses of a lifetime membership. I was expecting to renew on a yearly basis. Still debating on what I plan to do moving forward. Just a heads up if you don't see me post anymore.
  3. 1 point
    What a month of trading. Today I really took a look at my trading for the month, because the last couple of weeks I was just not satisfied with my trading. What I found was interesting, when I pulled away and looked over the month, I traded extremely well each day especially in the last two weeks. I only had two days that I traded outside my edge in the middle of the month. This is definitively not the feelings I had each and every day. It was refreshing to say the least that overlooking the month, that I was sticking to my trade plan and managing my risk well. Weekly Analysis of trading I traded all 5 days this week, although I had a trading error on Thursday as I left my order setup in simulator from the night prior. I took 2 out of 4 setups this week. Monday and Tuesday I hit my profit target and got through that difficult spot of having 3 losers in a row plus 3 trades outside my edge. I traded the third setup, but I was simulator without knowing it. The 4th setup I did not see as I was watching another stock on my watch list causing my to miss the entry. The time I spent on the sample set has been worth it. It has assisted in identifying a couple areas I need to work on. (1) Profit taking execution. My profit taking plan I believe is worth while, I am just not executing it as designed. (2) When I do everything right and the stock goes against me, I am still getting frustrated. If I did something wrong, I have no issue with the stock going against me. I have to remind myself that stopping out is doing the right thing so do not get upset. Weekly Overall Self Rating: Traded well all week Daily Goal Hit – 5 of 5 Daily Max Loss – No longer tracking, monitoring just to ensure I don't go over Goals for the month 1. Traded two times inside my sample set this week live. 1 time in simulator 2. Stick to your trading rules and focus on developing trading skills, maintaining self-discipline, and controlling my emotions while in the trade. Risk Controls 1. Did not trigger Max Loss control. 2. I did not hit Max Shares traded in a day. Trading Methodology 1. Did not change any of my trading or profit taking methodology. Sample Set Results P G S G S 6 7 8 S S P G G 14 15 16 17 18 19 20 P - 1:1 than Break-even G - Hit Profit target R - Stopped out # - Trade outside my Edge
  4. 1 point
    Week 9 recap · Weekly stats o 2.2 R/R (Goal: above 3.0) [record: 2.7] o 75% (Goal: above 80%) [record: 93%] o -$40.16 (Goal: $250) [record: $49.03] · Highlights o Hit my profit target for the first time since January o Better job this week planning trades o Range orders have been really helping my impulsive exits · Ongoing things to work on o Letting losers go against me too much o Moving my stops up and getting knocked out of trades that hit my profit target. o Too many max loss days this week. Trying to keep it to one or less a week. o Only take recognized setups AND get better R/R o Don’t add to losers
  5. 1 point
    Friday 3/01/19 Well being score of 5/10. My nerves were high due to a really bad trading day yesterday. My one allowable trade was with JD. So much for listening to my own journal entry yesterday and review checklist completely when I move a ticker to my main chart. So when I moved JD to my main chart I did not zoom out and check for tech levels on the 1min chart. There was a tech level at 28.62 I didn’t see. It was clear on the 5min chart but I was too focused on the 1min chart looking for an entry. So I took the trade long with a Reward/Risk=1 which vetoes the trade. I should have waited a few minutes more and take the trade closer to VWAP with a better R/R or not trade it at all. Traded bad on a Friday again. What I did good today: Stuck to my 1 trade/day rule though revenge trading fever was high. How did I challenge myself today? I did increase my risk level from $25 to $30 today, since I did have a month of no max loss and was positive in February. I didn’t notice any difference. What I did bad today: Broke a setup rule again!!! What can I do better tomorrow: I guess it takes more than once to teach me a lesson. I must look for tech levels (that I miss on my small chart) when I move the ticker to my main chart.
  6. 1 point
    Summary of my week ending 2/22/19 So this is a summary of my 3rd week of trading in which I journaled for the BBT community to view. This was also my 6th week of trading with the solitary goal to reduce my over trading. This is also my 3rd week I went on a self-imposed 1-trade a day maximum, which went well initially, with a week of good trading. Second week was quite disappointing. My third week would have been OK if I didn’t break my setup rules today. Results:  Negative things this week 1) Broke my setup rules once this week 2) Traded AMD twice this week. Trying to stop trading my “comfortable stocks” 3) Took a 1min ORB with 2min ORB setup rules. Positive things: 1) Never hit max loss 2) Journaled every day this week on the BBT site. 3) Hid my P/L window, which is a first time in 10 months (6m SIM). Never looked at it until end of the trading session. 4) Kept to my 1 trade/day max this week. 5) Share size, taking at 1st partial and stop outs were back to normal this week. 6) Started a rule not to trade before 9:31:45 to prevent 1min ORB trades. Next week: 1) I finished “The Daily Trading Coach” book (3rd time) this week. So I will start rereading “Trading in the Zone” this weekend. 2) I think after 3 weeks on the 1 trade/day rule, and understanding why I broke that rule last week, I will modify the rule for next week. I will allow a maximum of 2 trades a day IF my first trade is a winner. I can’t trust myself if my first trade is a loser. The urge to revenge trade is too strong. Especially, when the loss is caused by a mistake. But after a winner, which is also a well executed trade, I instinctively don’t want to trade anymore and ruin the day. So I assume I will be pickier after a win. I will give this a try.
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