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Showing content with the highest reputation on 03/07/2019 in all areas

  1. 2 points
    March 6, 2019 - $GE (1st Trade: Stopped out/2nd Trade: Hit Profit Target) I am absolutely sick with the SD Flu, so I am not quite sure why I traded today, probably because I haven't found a good trade in the last 4 days and I knew I was not going to be able to trade tomorrow. It turns out it was a good thing, as I found myself two solid trades. I am most proud of getting Stopped out on my first trade and having zero emotional reaction afterwards. This enable me to take the 2nd trade a few minutes later when the stock re-hit my entry point and I rode it all the way up to the Moving average. Sample Set Results P G S G S 6 7 8 S S P G G S G 16 17 18 19 20
  2. 1 point
    Thursday March 7th, 2019 Sleep: 7.5 hours. Mood: good, ready to trade. I was thinking about how in the market wizards books, a lot of them recommend cutting back in position when you're in a losing streak so i've decided that day's after i hit max loss, i'll only take two trades and if both of those are losers, i'll stop for the day and only take one trade a day until i get a winner. I'm hoping this will help with my impulsiveness to enter trades when i could be waiting for a much better setup. also it will help limit my draw downs by decreasing what i'm losing First trade of the day was an ORBU in HZNP. once i was in i didn't like the low volume and how it was trading so i bailed at the $29 level. it never hit my original stop and did end up hitting my price target GOOD: good setup, it was holding the VWAP and moving higher RFI: chased the entry and didn't stick to my plan MOOD: ok i think getting out on p/a that doesn't feel right is good. CONSISTENT: yes and no. Last trade of the day was in PS. i liked the double bottom on the LOTD and the engulfing above the VWAP. i got in long, i should have got in right at the new 5min high but my entry wasn't too far off. it came to a penny before my stop and then thankfully hit my target. GOOD: good setup, stayed with the trade RFI: chased entry MOOD: glad to get good winner CONSISTENT: yes What i did good today: took trades that were good setups What i did bad today: got out of a trade before my stop. What can i do better tomorrow: stick to your trades, get better entries
  3. 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.
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