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Showing content with the highest reputation on 03/06/2019 in all areas

  1. 2 points
    Wednesday 3/6/2019 My worse day since I have been journaling on BBT and the only day (since the BBT journaling) I had a stop out greater than -1R. Now what is odd, is I don’t feel that bad about it. It was a good learning day. Broke some basic rules so I needed to be slapped around a bit. And after the big loss my feeling to revenge trade subsided in a few seconds. Since the day was over so early I thought maybe to jump on the SIM, instead I thought to call it a day and spend some time working with Trade Ideas. I had a low well being score of 4.5/10 so I am supposed to trade with half shares (that doesn’t sound good already). My one allowable trade was with BZUN. My checklist (lots of red): I think the setup was so strong I was REALLY sloppy checking the vetoes. I even took a wrong trade yesterday with a candle ~ATR and didn’t learn my lesson. I also broke my 9:31:45 EST trade rule by a full 15 sec. If I would have waited I also would not have taken the trade. And it was a mile above VWAP. By 9:32 EST the stock actually looked like a short. At 9:31:35 EST Now things get actually worse. Due to my low well being score I was supposed to take half share size. I forgot. Also, if I have never taken a trade with a stock before I usually cut back on shares a bit. I also forgot. So instead of taking about 1/3 normal size I took full share size. Just before I took the trade I checked the spread and it was fine. I waited for a clean break of the $43.7 level, then went long. The price instantly spiked down, giving the impression I got a good fill. But actually disaster already occurred. Before I took the trade the volatility wasn’t that bad. Stock was steadily going up with minor pops/drops, so I gave it a tight stop out point. The moment I took the trade my entry price was just barely above my S/O point. So I should immediately get out of the trade. But instead I did something I need to ponder for awhile why I did it. I moved my stop loss down to below the next tech level. So now I have way to much risk on the line. Price fell, broke the TL and I exited. But it also had some slippage to make it even a larger loss. From the video I see the spread immediately tripled the moment I took the trade, thus it costs me to exit. So even being stupid, if I followed my share size rules for the day I would only have less then -1R loss. Instead I have more than -2R. What I did good today: Stuck to my 1 trade/day rule. The feeling to revenge trade disappeared quickly. No lingering emotional effects. Just went about my day in good spirits. Usually something like this bothers me all day. How did I challenge myself today? Recovered emotionally from the bad trade quicker than I can remember. What I did bad today: Broke two veto rules! And broke 9:31:45 EST rule as well. What can I do better tomorrow: Just saying to myself I need the follow the rules more, isn’t helping. I need to take the trade less emotionally and have more mechanical precautions. Need to step back and look at the trade before taking it. These things are obvious mistakes, not nuisances. Will spend some time today thinking what action plan to take.
  2. 2 points
    Wednesday March 6th, 2019 Sleep: 7 hours. Mood: good, ready to take good setups today first trade of the day was a double bottom in ZAYO. Look like it was holding the $25.88 level but it sold through it. i was about 20 minutes too early on this trade. had i waited for the shooting star and new 5min high it would have been a good trade from the LOTD to the WVAP. i FOMO'd the entry, i clicked on this chart and saw it was making a new 1min high on volume and got in. GOOD: got out at my stop loss RFI: Impulse entry and too early. MOOD: fine CONSISTENT: yes on the exit. not on the entry Next trade i again chased the trade in NIO. i saw that it was breaking the HOTD so i got in but it was crazy choppy and it scared me out of the trade. then i saw it was probably going to break the HOTD i got back in with a better stop. someone came to my desk and i had to close my DAS and i ended up getting autostopped on the second on. i'm not counting this against me though i should practice range orders when people are coming over so i can make sure i don't get auto stopped for too much. GOOD: got out on the first one because of the crazy price action. RFI: got back in again?? not sure why i guess i thought if it broke the HOTD it would really run but i was incorrect. MOOD: so tired of hitting max loss. CONSISTENT: i kept to the stops that i could have. I'm not sure what i need to do to get better. i feel like i'm getting worse. i'm just going to keep working on finding better setups and not jump the gun on my entry. What i did good today: kept to my stop losses What i did bad today: early impulse entries. taking setups today but not good setups. win ratio this week is 0%. i've been wrong on every single trade this week. actually that's pretty impressive statistically i could have just guessed at random and done better. What can i do better tomorrow: only take trades you're confident in and get a good entry! Other comments for tomorrow: as frustrating as losing is, it happens and it will pass, just need to focus on the next trade and not about the loses this week. i want to go back to live trading but there's really no point if i'm just losing money in SIM everyday.
  3. 1 point
    To anybody that's interested, Andrew, Norm, Carlos and Ryan will be in town for the NY Trader's Expo. We plan on having dinner at 8PM on Sunday, March 10th at The Irish Pub in midtown Manhattan (837 7th Ave, New York, NY 10019) This is an open event and all are welcome to attend. There's no need to RSVP. We will be there hanging out and looking forward to seeing anybody that wishes to hang! If you have any questions, please reply to this topic.
  4. 1 point
    March 6th (Live) P&L After Commissions: -$47 Trades: 9 Better, but not there yet. I did a great job with my patience in the morning and I traded with focus and control today. That was really important to me today because of the NFLX trade from yesterday. There were a lot of similarities with how I traded compared to yesterday but I happy to have ended green. $SE - I traded SE three times. Took it short each time at ~$32.20. This wasn't intentionally, just felt they were good shorts at that point. Last one was the one that paid off. Happy with my patience and ability to exit after taking profit and exiting the middle trade at B/E when it wasn't looking great. I was almost ready to end the day here after 3 trades and about $80, but I didnt. My goal is $100-$120 and I felt that $80 just wasn't close enough. $MU - I got chopped up on MU. This is very simliar to me getting chopped up on KSS yesterrday, this time the losses were greater than yesterday. At this point my $80 day is getting closer to a $30 day after commissions. $ANF - Again like yesterday, I decided to short a super strong stock that is up for the day. The difference is yesterday I took it after crossing the 50SMA which is usually safer, but today I saw the weakness and it topping off at $26. I got a great entry, just didn't do the best on profit taking. Like yesterday ANF broke under the 50SMA but didn't do much after came back to test it and broke above. This might be something that super strong stocks do. Need to remember this. But because I had a entry above the 50SMA I was able to get decent profits and stop out my remaining shares for a small profit. Today was a better day than yesterday, but there were some similarities which I do no like. I have lowered my share count from 4000 to 3000. Nothing good ever comes after 3000 shares. I'm usually not upset with the trades that I take during the day, its just the emotional and psychological state that I get in that needs work. I 'm not the best technical trader but it isn't what is keeping from being consistently profitable.
  5. 1 point
    March 5th (Live) P&L After Commissions: -$114 Trades: 15 Super disappointed with how I traded today. I had such a hard time writing this journal in my own journal that I keep. I didn't want to think about this day. I couldn't control myself. There is just a pain when thinking about this day and even writing this now (the day after). My trades themselves were ok, I didn't trade too terribly, up until I lost control at the end. I had one bad trade that put me in a whole but I did get back to near break even. It was when i wanted to get back to green, I forced trades and made some of the most impulsive emotional moves I've made in a while. As you can see there is one big loss. The trade was bad, but I could recover and did. It was the last 3 trades and most importantly NFLX that really disgusts me when I think of this day. $HUYA - Thought this was going to be a VWAP break. Broke VWAP broke 50SMA. The only thing was the resistance on the 5 min. For that reason alone, I should have stayed out of the trade, but I went in and it dropped down pretty hard on me. I had multiple opportunities to get out, but I was trying to get a good limit order instead of just exiting the trade. The spread was fairly large on a stock of this size, I believe it was between 6 - 8 cents. I was trying to not have to market order, and the stock just kept dropping on me. Then it got down to $25 and I was hoping for a bounce there, it didnt come and I exited when it broke $25 with a market order. This was maybe 3 times the loss I want to take on a trade. I was able to mostly come back from this trade. Nothing special. Just 3 decent trades to make back the losses. At this point, I checked my P&L ( I know I'm not supposed to), and I was down $11 before commissions. I figured I could just get one more trade, and get even for the day. I went for a KSS trade 3 times and got chopped up but kept losses small. After that I couldn't find a trade. Nothing was really moving As you can see I waited about 30 minutes without taking an entry until I took a small trade on AAPL. Basically tried to make a move happen. I have DAS shut me out at Noon, so I was trying to find a trade or 2 before I was officially locked out for the day. To keep it short and get to the point. I took a trade on CTRP, which I am ok with. Never short super strong stocks, but I am ok with the entry and exit on the trade. TGT, was just a bad trade and I took it in the wrong direction. The big trade to look at is NFLX. I was getting close to my share limit so I looked for something that can move. I need to stop thinking like this because it doesn't work out and has probably cost me close to $500. It was 11:59 and I was scrolling through stocks looking for something to trade. I checked FB, AAPL, TSLA, NVDA, SQ, CGC, BABA, almost all of the usual suspects. I settled on NFLX just because it was something that I could justify entering. Seemed to be breaking and holding below VWAP. The trade itself was bad, it broke my stop loss and I didn't exit when it came back to break even. The really disgusting part of it all was that I forced this trade. I wanted this trade so bad. Not because I thought it was a good trade, but just to get some of my losses back for the day. I put a limit order in 11:59:53. I didn't love the trade, but I just wanted it. I knew I had to put the order in before noon or otherwise Das wouldn't allow it, so I did just that. I knew the rules and I abused a loophole. My trading today was one thing but this still hurts me even the day after to realize what I did. I am very ashamed with how I acted today.
  6. 1 point
    Greg, I know exactly how you are going thru. I was in SIM for over a year before going live, yet I lost $8K in the first week. Went back to SIM after a month, came back lost $10K more. This is called "addicted to action". My suggestion to you is to read and put to practise Mark Douglas principle in "Trading in the zone"if you haven't read it yet. It is not completely a discipline problem because I considered myself to be very disciplined person. I played very advance electric guitar and bass. I trained many year in free style kick boxing. The kind that your couch pushed the sand bag at your face until your nose broken. You just wiped the blood and continued. I could lock myself up in a room for 4 hours straight to read technical books like Cisco or Juniper. Those books are like eating cardboard. Those skills take serious discipline. But you can see that I am not better than you when it comes to trading because of the instant gratification. However, I realized that trading is psychological in nature. How we trade is a reflection of who we are. If you're frustrated, the stock will creates event that caused you more frustrated. I am stable now for a few months. This morning I trades 2 stocks only and made $800. Most of the time, I trade just one stock and make average $500. Here my suggestions to you. 1. Don't come to the market to try to get something or to fight. Come to the market to look for opportunity. Tell yourself, I don't have to trade today if nothing good. 2. Plan your own trade by join Carlos in pre-market. FYI: Talking about lack of sleep. I left work and got home at 1am PST every day just to wake up at 5:15 to plan my trade and go back to sleep around 9:30am and again wake up at noon to go to work. So I am with you regarding lack of sleep. I've done this 1 1/2 year now. 3. Before market open, do deep breathing exercise by closing your eyes and visualize something fun and happy while taking multiple long deep breath. I ALWAYS nervous before market open. So this will help me relax and not too jumpy or anxious (FOMO). Remember, how we feel will attract the same result to us. 4. I choose "CONSISTENT" over making money. The moment I got my first win, even if it's $50, I shut DAS and my PC down and go to sleep. I don't care how many good stocks are in play. This will reinforce your inner strength because you do what you said you're going to do. It's not easy. But after 2 weeks, it becomes natural. We make habits then habits make us who we are. Be strict with your rule but flexible with you outcome. Everything else you seem to get them in control there. Hope these help. I will add more when I can recall what I did back then to stop this kind of compulsive aka addicted to action. I can tell you this, when your mind is calm and you don't try or struggle to win, the setup will come to you. For me the winning trades are obvious and easy. I see what I need to see and get in right on the money and ride it all the way. In the past I would flip my position 10 times on the same stock without even knowing that it's consilating or being choppy. I just know one thing "I got to win". That's how bad or stupid it was. Looking back I can only laugh at my dump behaviors. I wanted to win at all cost. The market thought otherwise. To me because I did so well in the SIM and when it comes to live trade it did not work, I could not let that happen. I am no where near perfect yet but I am on my way. I wish you the best !!! Johnny
  7. 1 point
    Hi everyone! I've been a member here now for a whole month. I've bought the books and I attend the chat religiously every day. Haven't bought any courses yet and I'm on the fence about lifetime membership. Not that I have anything against it, just that a lifetime is a big commitment. Seriously, I'm a very old man so it may be cheaper for me to stay in the month to month plan since I don't know how much of a "lifetime" I have left anyway. The short elevator "about me" speech: I'm the Patriarch of my extended family, husband, father of 3 sons, and grandfather of one gorgeous redheaded little girl. I'm an old former combat Marine, retired LEO, retired insurance salesman educated at UT and I call East Texas home. Hobbies include woodworking, Amateur Radio, hunting on my ranch, and flirting with my bride of 30 years. I should mention that I'm also handicapped. I lost the full use of my legs about 3 years ago but all that did was slow me down and make a little meaner. I've been investing for almost forty years and trading for two years. Most of my trading experience has been with swing trading, but these past 6 months I've focused more on day trading. I'm exploring the many different strategies right now trying to find that sweet spot for me. So far, I've been successful in identifying several that I want nothing to do with. Yes, that means I lost money! What I like most about Andrew's strategy and the chatroom here is I don't feel pressured or stressed to make a trade. I have learned more from listening to Carlos in the mornings as he develops the watchlist than I've learned from several "gurus" that I spent thousands on to teach me how to day trade. For that, I'm very thankful. Andrew & Brian come across as very real, down to earth people that are accessible and that speaks volumes to me. So many of the other chatrooms aren't that way. Oh, before I forget, Norm and Peter are also wonderful at sharing their reasoning why a particular trade is good or bad too. Perspectives are how I learn best and I appreciate theirs. That's pretty much that! I'm almost always in front of this computer during the weekdays so if you have questions, don't be shy. Ask away. I'll most likely respond quick. Thank you to everyone in the chatroom for such a warm welcome too!
  8. 1 point
    Hi guys, Yesterday I had this problem only with Arconic, while everything was fine with EBAY. This morning, both stocks I was looking at were showing "no permission" in their respective LVL2. At the same time, the candlesticks on the 1min or 5 min charts were not moving in real time. They only appeared every 1 or 5 min depending on the chart. I still can see a couple of bids and asks on the LVL2 but less than usual. My connection is good and I tried to log out and log in already but nothing changed. Is it a problem with my account? Here's a screen capture:
  9. 1 point
    In DAS free trial market data is real-time ONLY for Nasdaq Exchange (Q) stocks but delayed for all other exchanges.
  10. 1 point
    Hi Robert, I'm aware of that, was just posting the workaround for other users that come across it. The issue circled is that the chart line (thick blue) falls behind the chart calculation (blue label on price scale). For example, in the image the chart is calculating the 1min VWAP as 35.746 (this is correct), yet the line is stuck at 35.70. Moving the VWAP study config up or down fixes this (it goes back to where it should be). Earlier for me, MU's line was stuck about .06 cents away from the chart label at one point on all timeframes until I did the reset. I know a few other users have mentioned it. I think it's a bug in BETA 0.34/0.35 as they also added VWAP to the daily chart in these versions, so something else might have gotten messed up. *EDIT* Replaced image above with a more clearer example.
  11. 1 point
    Just a heads-up that we are trying to get DAS to add ATR and float to the Market View window as a numerical value. ATR should not be too tough since they are calculating that for the charts anyway, we shall see about float.
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