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Showing content with the highest reputation on 03/20/2019 in Posts

  1. 2 points
    Wednesday March 20th, 2019 Sleep: 7.5 hours. Mood: good, ready to trade. First trade of the day was an ORBU in NOMD. got in on a new 1min high after it punched through the VWAP. entry at $19.74, risking $19.64. it broke through the daily level but then the volume fell so i sold half and then the rest at b/e. glad i did because i would have got stopped out. GOOD: was quick to get out on the ORB. i feel like my hesitation costs me money in the first 15 minutes. RFI: could have not taken this trade at all or waited for a better entry. MOOD: ok, glad to be positive instead of at a loss to start CONSISTENT: yes i got out on the price action Last trade of the day was a double bottom in MU. watched this thing sell off forever. finally found a bottom around the 200 MA on the 15min chart. i waited for a new 5min high then a pullback to my resistance level of $39.73 and got in at $39.83. sold a little too soon, i could have let the 5min candle close and sold the rest when it looked like it was stalling out. really happy with this trade. GOOD: waited for a setup and then waited for a good entry. RFI: sold too early, could have got a better entry. MOOD: happy. CONSISTENT: yes. What i did good today: waited for a good entry on MU What i did bad today: Probably should have skipped the ORBU. What can i do better tomorrow: Keep trading with a level head and a good plan.
  2. 1 point
    March 19th P&L After Commissions: -$124 Trades: 11 I struggled and I struggled hard today. I fell into a hole early, and I couldn't quit when I had one trade get me back. I have a problem with red days. I cannot accept a red day. I am doing a much better job at keeping the losers small for the most part, but I can't seem to keep the losing days small. I will keep trading and trading to try and get back to break even or better. It is killing me and my account. I have learned somewhat to stop when I am having a winning day and I am able to end the day green whether I am at goal or not. I cannot end the day red unless I am at max loss. I have turned many acceptable red days into unacceptable max loss red days. As you can see almost every red day is a max loss red day where I hit $150 plus commissions loss and DAS stops me out. The smaller red day losses are days where DAS has stopped me out after hitting 3000 shares. I think on only one of these days, did I decide to walk away on my own. Almost each of those red days, I should have quit before things got as bad as they are. I have a hard time accepting a small red day. It goes against everything you are taught in life, sometimes it is better in this game to admit defeat than to keep going and I am having a hard time accepting that and putting that into practice. One idea is to lower my DAS max loss. That is the next major goal that I have for myself. I need to learn to walk away when I am losing and I am done trading. I lose very often, but I still don't know how to lose properly. Can you spot the sim days? As far as my trading day goes, I took some major losses early in the morning. I should have called it quits right then and there. One of the things that has really helped me was sticking to my watch list stocks. Today they were WHD, STNE, MU, NVDA. I only watch 3 stocks at a time, so I was already breaking a rule by making this 4 stock watchlist. In the morning, I was flipping between MU and NVDA which wasn't a good sign. I kept 4 available in the morning in case WHD or STNE didn't move or went too out of control. That is when I should have swapped it out for MU. I shouldn't be constantly flipping back and forth between MU and NVDA at the open. I didn't trade well, but I am ok with my trading up until I strayed away these 4 on the watchlist. $NVDA - I took NVDA long when it seemed to be holding VWAP. As soon as I entered, it dropped down below VWAP and I had to exit. Stayed in this trade for 13 seconds. It doesn't help that there was a decent sized spread. It then popped up back above VWAP. The second trade upsets me. There was no reason to take this short. I am not sure what I was doing. It never closed below VWAP and was even making higher lows above VWAP. This was a long and not a short. Bad trade on my part. I'm glad to have gotten out for a small loss. $STNE - I usually stay away from wild stocks at the open, but for whatever reason I went to trade STNE. I thought taking a small share size might help, but the candles were still too big. Might have been because I didn't have a great watchlist and I believe at this point WHD was moving a too far from VWAP for me. I need to wait for a better setup when trading. I dont need to always be in a trade. Seemed to be holding the trend lines and the 20EMA. It broke above it on the first trade and I exited. Came back down and I tried again on the trade. Was not good trading. $MU - I was down $90 on my first 4 trades. Not where I want to be and I should be calling it a day there. I didn't even thinking about being done because it was still pretty early in the day. Saw MU was curling up and making higher lows. Went long with a target of $40.40. The previous day mark and where it stalled out earlier in the morning. I sold most of my shares there, but held some for the break. It did break up and I panic exited on the rest of the shares on the first red candle. I didn't need to exit the final piece where I did. I was watching my P&L and I knew how much the trade made me already, so I wanted to lock in the profits and be ~$25 down. I have had trades where they go $30-$40 in my direction and I dont take profit. they end up going back to break even or losing and I wanted to avoid that here with the final piece here. One thing I need to understand is that on the HOD breaks the stock can continue moving. I need to let the stock run more on HOD breaks. $BABA - This is where it all goes wrong. I didn't like my watchlist at this time. Low Volume and not a lot of movement for STNE and WHD. MU was still climbing, but I wasn't going to re enter. I then started searching for stocks. I checked AAPL, FB, SQ, CGC and finally landed on BABA. No reason to trade this stock and I should have stayed away. Took 3 trades, 3 losers. $AMD - After having no luck with BABA, I came across AMD who was moving fairly well. I saw it setting up for a reversal and took it when it broke the 50SMA. I took 300 shares and was targetting the 50SMA on the 5 min at $20.40. It did come down to about $20.50 which was 13 cents and about $40. I really thought it would keep coming down since it was below all trend lines. Just couldn't break the half dollar barrier. It worked its way back up to my entry and I told myself to let it go above the 50SMA on the 1 min because that is where my stop should be. It did that and stopped out. I let a trade go from being +$40 to a loser. Exactly what I wanted to avoid on MU earlier in the day. My greed got me on this one and it was because I wanted to make up my losses that I already had. I believe that if this were my first trade of the day, I would have taken some profits. I need to treat every trade as the first trade of the day. My P&L shouldn't be affecting any moves I make in a trade. Each trade is independent of the rest and the rest of my day. Goal going forward - Learn to accept red days and keep the red days small. They are going to happen and that is ok. I know that nobody can win every single day that they trade. Part of the process is learning how to lose and how to lose gracefully.
  3. 1 point
    Tuesday 3/19/2019 I had a wellbeing score of 5/10. I traded both live and on SIM. I took two trades, both with AAPL. I haven’t made a market open scalp trade since I was on a self imposed 1+1 trade a day maximum. If you only have one trade allowed , why waste it on a scalp? So I stopped. I use to make this trade a lot since I was live but not for the last 6 weeks with the trade max rule. At the open AAPL created a bearish 1min candle and shot through 3 very strong supports, including a level that bounced five 1min candles in premarket. When it broke that level I shorted. Not a good fill, but that is common so close to the open. The chart when I took the trade: It had a clear target, but when reached it I instinctively took a partial and not a full exit. Six weeks out of practice I guess. Then I tried to stop out at B/E but there is some slippage. Another reason not to take a partial. So I only ended up with a small gain. Due to being out of practice, I am forgiving myself not exiting fully and will call this a good trade. The partial exit on the scalp. The next trade was also with AAPL. A “Vish” 2min ORB setup. The 2min candle had a large wicks, but it still seems very bearish. I waited for the price to break that premarket level and I took the trade. At first I thought I got a really good fill. But then reality set it and I noticed I never let it fully break the tech level. It touched it and bounced hard and reversed. My AAPL checklist: I have the setup in light blue since it technically did not break the tech level so a full setup was not there. But I consider this an early entry more than a setup violation. I actually thought it did break the TL when I took the trade. But my video confirms I didn’t. So I will call this a neutral trade instead of a bad one. This was the moment I took the trade (note it was at the TL not past it): Then got stopped out: Since I took a small share size, due to so close to market open, and a good fill, I lost little on the trade. After I used up my to allowed trades, I switched to SIM. I took a trade with WHD. After trading SIM yesterday I thought it may be useful to continue. I am usually wearly about SIM since bad habits are usually formed. But I seemed to be more disciplined about SIM trades now.This was a 5min ORB, which I took a little before the finish of the 5min candle. It broke VWAP, came back to test VWAP again and I went long when it bounced from it. If I took it at the break of the 5min candle it would have pushed the edge of the 2 to 1 R/R. But, R/R was much better on my entry point. It did finally reach my target (a few cents from it) and I took partials along the way. The volume was dropping every minute, from entry, so I exited the first sign of weakness. What I did good today: Didn’t break any rules on purpose today. How did I challenge myself today? Took a scalp trade. Traded both live and on simulator. What I did bad today: One trade had a poor exit and the other a poor entry. Though neither on purpose. What can I do better tomorrow: Watch for the clean breaks of tech levels. Not the first time I had an issue with this.
  4. 1 point
    Ekhall, here's an which covers all stop types. This is a sample script for a SELL trailing stop, with a 0.50 trailer: Share=Pos;ROUTE=STOP;StopType=Trailing;TrailPrice=0.50; TIF=DAY+;SELL=Send; For a BUY trailing stop, try this: Share=Pos;ROUTE=STOP;StopType=Trailing;TrailPrice=0.50; TIF=DAY+;BUY=Send; 1. In the video they demonstrate the percentage stop, but I haven't gotten it to work in DAS. Perhaps they removed it in newer versions? 2. Since your hotkey sends both a BUY/SELL and a STOP, of course a second stop order will be queued. It would get pretty complicated trying to script for this. How about creating a second hotkey for scaling in? You could try something like this so the 2nd trailing stop is only for half of your entire position: ROUTE=LIMIT;Price=Ask+0.05;TIF=DAY+;BUY=Send;Share=Pos/2;ROUTE=STOP;StopType=Trailing;TrailPrice=0.50; TIF=DAY+;SELL=Send; Let me know how it goes.
  5. 1 point
    Andrew recently added a moving average line to the volume bars. A lot of users have been asking how to get the line, so here's how: Double-click the Volume Bar area With Volume (BAR) selected, click Config Check Display Average Line Note at the time of this post, Andrew has been using a period value of 3.
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