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Showing content with the highest reputation on 03/28/2019 in all areas
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3 pointsMarch 27, 2019 - $CVS (Partial) As I prepare my next sample set, I have continued to trade my previous sample set. I missed a few great entries on 5 min ORBD this morning; however, I did take a trade on $CVS, with a decent entry.
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2 pointsHi there, I have a clean account with $50.000 at my broker and will start day trading the BBT strategies from Andrew his books live on Monday 6th of May 2019 for 1 month. This thread will be a log of my journey into preparation to it with struggles and hopefully, somebody can learn from my mistakes or help me to be successful. If anybody wants to help mentor a bit I'm willing to reward if needed or donate to charity. I will post broker statements every day and describe all my trades. Basic rules will be: 1. Only trades with strategies from the books from Andrew. 2. Maximum loss per trade $250 - (0,5% of account) so size will be positioned accordingly to this rule 3. Maximum loss per day $1000 - All trading of the day stops when I'm down $1000 4. Daily target will be $500 - Trading stops when hit. 5. I can only enter trades between 9.3am and 11.30am NYC time So maximum I'm willing to lose here is $20.000 in this experiment in 1 month. I'm not a beginner in trading and I have 100% free time to trade like this full time. I'm mentally prepared to lose 20k, I see this is a worst-case scenario and I accept this fate. I will do everything I can to prevent this from happening. Wish me luck and let's see how I will do! I'll appreciate all advice and comments! Cheers Vic
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1 pointThursday March 28th, 2019 Sleep: 7 hours. Mood: good, ready to trade. First trade of the day was an ORBU in AMD. i missed the ORBD but when i saw the big volume and the punch through VWAP and the MAs i thought it would make a good long trade. sold half at the HOTD and another half at the previous previous day low. got out the last piece after the engulfing candle at 10:10. GOOD: waited for a good opportunity. got a decent entry. RFI: sold first half too early MOOD: good. CONSISTENT: yes. I was waiting for a double top in AMD after i got out of my last trade. ended up getting back in on the short side once it made a new 5min low below the PPDC line. I chased the entry a little bit, i could have waited a minute of two and got a better entry. i risked the HOTD to the 200MA on the 5min chart that was also right around the even $25 level. sold half at VWAP too early but it didn't sell off like i expected it to and i was afraid of it bouncing off the VWAP. I shouldn't have been concerned because it ended up hitting my profit target and i got all out. GOOD: waited for confirmation it was a short. RFI: got in too early and out on my first half too soon. MOOD: good. CONSISTENT: not on the first half. What i did good today: Only took trades i was confident in. What i did bad today: Nerves are still present on my selling. it's my first week back live trading so i'm not too hard on myself for this. What can i do better tomorrow: Set range orders for slower moving stocks past 10:30 so i don't over analyze the price action.
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1 pointThursday 3/28/2019 I had a well-being score of 5/10 this morning. My nerves were good this morning. An interesting day. I actually took 3 trades today though I have a 2 trade/day limit. The third trade was supposed to be in simulation. I am having an issue with the simulator. I seem to only be 50% successful switching from live to sim. I double checked the order settings both on the platform menu and the montage but it’s still very iffy. I had two trades today on AMD and one on LULU. AMD had a scalp setup both long and short. And yes I scalped it in both directions. The first scalp was long. I entered when it broke the 25.18 TL and first partial (large partial) was at the Boullinger band. Then out at B/E. The there was a scalp setup in the other direction. I went short on the new LOTD with my first target 200MA and a second target the 24.89 level. I took a large partial at the the 200MA and S/O at B/E. These partials on scalps aren’t working. I may have to stop that. I switched to SIM and double checked it. Then I liked LULU (great R/R and a near 1st target) and decided to make this SIM trade as realistic as possible. Though I like the slow and steady up swing to VWAP, if I was really trading this live I would give it a large room and a wide S/L. So I set my S/L at the 5 min 20MA. Then I went long and quickly checked if it was on SIM. It was not. But since I took a realistic trade and my nerves were good I stayed with it. I took my first partial at a premarket tech level (168.77), though not sure where I got that level from. Then took partials a bit arbitrary. Then all out on the 1min new low. What I did good today: Nerves were good. Great S/Os at B/E. How did I challenge myself today? Handled an accidental live trade well. What I did bad today: Took an accidental live trade. What can I do better tomorrow: Need to figure out what is wrong with switching from Live to SIM.
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1 pointDay one trading in Dallas did not go as planned. When I saw this morning that I was not in the top ten in the challenge I told myself I needed a big day to make up for my "Truck Stop Trading" yesterday. Well I didn't just have a big day I had a HUGE day..........A HUGE DAY OF FEES AND COMMISSIONS. It all started fine I was a bit upset that I didn't let some of that trade ride lower, so I should have cleared my head of those thoughts, but I didn't. Then all H#LL broke loose. I started trading other stocks, started believing CRON had to reverse back to VWAP, and even started trading the dangerous RBZ late in the day. I think this challenge is making me trade worse, I will be relieved when this week is over and I won't be competing against anyone....only my own demons, which I believe I can control under regular trading circumstances. LOOK AT THIS ALL DAY CHRISTMAS TREE CHART!!!!!!! WTF was I doing???? Here was my original plan So my account took a big hit today I found out later, I didn't even need to make ground up, I was actually still in 12th place before today, hopefully today didn't ruin my chances.
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1 pointNice one, I too had a great day and looking back missed money, BUT That's not how things work of course. You can't pick tops and bottoms. You are just going to have to accept that. Just like I did Good luck and thanks for the daily writeup, very nice! Cheers
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1 pointWednesday March 27th, 2019 Sleep: 8 hours. Mood: good, ready to trade. Took an ORBD in CRON. it gave me no trouble at all. i meant to sell half at my profit target but i hit the wrong button and got all out. kicking myself for this mistake it fell all morning. GOOD: good setup, waited for an entry. RFI: sold all too early. MOOD: a tiny bit mad I left a lot of money on the table. CONSISTENT: no, hotkey error. Next trade was a MA trend in AMD. i figured the stock was going to sell off once it got close to all those levels above VWAP but i didn't want to short until it broke. i waited for the 5min to close below VWAP and got in short. I knew the whole dollar at 25 was going to be a problem to get through so i took half off just in case. then i got out completely once it made a new 5min high. it turns out i should have just let it run because it never hit my stop. GOOD: waited for confirmation to short. RFI: didn't accept the full R loss and partialled out way too early. MOOD: ok CONSISTENT: no. What i did good today: Reading price action well and getting in to trades right on time. What i did bad today: Left too much money on the table. had i managed these two trades correctly, i could have easily got to my daily goal. What can i do better tomorrow: Go back to range orders to help with the nerves on selling.
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1 pointWednesday 3/27/2019 I had a well-being score of 5.5/10 this morning. My nerves were better this morning. A very disappointing day. I had two trades today both on AMD. There was no scalp setup so waited for the 2min ORB. I took an early ORB (9:31:11) with a very bearish candle. Checklist: This was the same setup as yesterday on AMD and it didn’t work out so why did I try again? The first level to take a partial was too strong and it bounced. I was able to take a partial at that level (25.69), then S/O at B/E. The next trade I was waiting for a clean break of the 25.69 with VWAP as my S/L. same setup as my previous trade. But AAPL caught mt attention on another chart for an instant. When I look back the price passed my entry by about 5 cents. Thus I should not have taken the trade. But since my finger was on the trigger my FOMO took the trade and I went short. Now I have a bad R/R and my S/L is far away. So I pulled my S/L in just above the 25.69, though there is no technical reason to do so. I then got S/O at that level quickly. The price then went up to 1 cent below my original S/O plan, reversed and had a huge run down which I missed. What I did good today: Stayed to my 2 trade limit though very painful to do so. How did I challenge myself today? Recovered emotionally from the bad trading today quickly (for me). I thought it would bother me all day. But I was OK an hour later. Not fast enough to trust myself with another trade, but a big improvement from me. What I did bad today: Didn’t follow my plan on the second AMD trade. Since I missed my entry I should either not take the trade or wait for the setup to emerge again (which it did). What can I do better tomorrow: Control the FOMO. Today was a big lesson that it is OK if you miss an entry.