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Showing content with the highest reputation on 03/31/2019 in all areas

  1. 2 points
    This week, I began developing another sample set to trade by adding an additional strategy to it. Also I have been tweaking my profit taking plan, as my previous one was developed using an incorrect premise. I am almost done with the adjustment, I just need to confirm it before setting it into place. Weekly Analysis of trading The beginning of the week started off a little slow as I was still only trading 15 min Orbs live along with 5 min Orbs in sim. I can say adding a new strategy that occurs before your current strategy has some unique challenges to it. Your current trading plan gets a little thrown off as you are adding additional information you are looking for that you may have not been considering previously. I have been trading the new strategy in sim for the last few weeks, and just wanted to complete a couple additional sim trades before taking a live trade. 5 minute Orbs was the strategy that gave me a lot of trouble due to FOMO when I first went live, so I have been cautious going back to this strategy. By Friday, I was ready to trade live both 5 and 15 minute Orbs. It was a perfect day for it as $BB met my 5 min Orb criteria and $AMD met my 15 min Orb criteria. I got a partial on $BB before being stopped out at B/E, and I hit the profit target on $AMD to the short side. I will say it was a little crazy processing the information more quickly, but over time that should smooth out. I am pretty happy with my trade plan. Now if I can just dial in my profit taking plan, I will be ecstatic. Weekly Overall Self Rating: Great Daily Goal Hit – 5 of 5 Goals for April 1. Do not take any trades outside your sample set, Keep FOMO in check, especially with the 5 min Orb strategy 2. Increase $ Risk per trade 3. Continue to improve thinking in probabilities 4. Confirming my profit taking plan is profitable over a series of trades Risk Controls 1. Did not trigger Max Loss control. 2. I did not hit Max Shares traded in a day. Trading Methodology for April 1. Adjusted Profit Taking Plan. 2. Added the 5 min Orb strategy to my trading plan 3. I did not increase my $ risk; however, I plan on increasing this as soon as I become comfortable executing my new trade plan. I did not want to add the additional pressure of increased risk along with a new trading strategy. Baby steps. One thing at a time. Sample Set 2 Results P G 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 P - Partial than Break-even G - Hit Profit target R - Stopped out # - Trade outside my Edge
  2. 1 point
    @WilliamH Thanks, Yes the last two weeks have been great. I ended the last two Fridays with great executions of my trades. The only reason I started using the DAS Risk Controls was because I saw the video. If you all would not have made it, I would have never known about them. For beginner traders, I believe it is a must. What better way to protect yourself from yourself, when you truly have no idea how you are going to react to the emotions of trading live. They are especially important for me, as I trade off a WIFI hotspot and need that extra set of security in case I get disconnected.
  3. 1 point
    March 29, 2019 - $BB & $AMD (Partial, Hit Profit Target) I am still adjusting my next sample set (Profit taking Plan) a little before posting the parameters here; however, on Friday I set a goal to trade a 5 min Orb and 15 min Orb live if I could find 2 stocks that met my trade criteria. I wanted to see the emotions and nervousness that I would experience adding an additional strategy. It went well and I was happy with my execution. Sample Set Results P G 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
  4. 1 point
    @Mike B WOW! So happy to hear you had such a great week. Let me ask are you using Das Risk Controls for max loss and max shares traded per day based on the video we made for the community? If so, AMAZING JOB and maybe we can do an interview with you about that process and the pros and cons of it to share with other members. I personally think they are SO IMPORTANT and want to continue to share with members who are on the fence about using them.
  5. 1 point
    Stuart, Just read through the thread and started smiling when I got to the most recent posts! YES, you did it right! Believe it or not, BOTH Carlos and I have had to step back at times to small shares when we have bad psychology or on a poor streak and not feeling confident with our trading. For you to take that insight, and go back to small size is SO GREAT. It eliminates all emotions, FOMO, revenge trading. . . .And at the end of the day, even though I know we are all doing this to make money . . . oddly enough money needs to be the last thing on your mind to trade smart. And by going back to small size, it is an easy way for your brain to stop caring about the money. Now the next step is to increase share size and risk very very slowly. In baby steps. Do not increase your risk by 50-100% because you are feeling great and confident and think you have a handle on your emotions. Only increase your shares/risk by 5%-20% per week and go very very slowly. Always be willing to take a step back, but never jump to far ahead. Always remember, this is a marathon not a sprint. The market will always be there, it is only us, the participants that will get exhausted in many different ways and have to step aside. And as you thanked Carlos and I as well as the rest of the team for sharing with all of you, we want to thank all of you for listening! We share to help in any way we can, and it makes us so happy to know that people actually do get helped by our insights! So THANK YOU!!! @Stuart @Carlos M.
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