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Showing content with the highest reputation on 04/16/2019 in all areas
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2 pointsI got smacked today. Had a few misreads at market open that I went big on. Had long bias today so everything felt like a long since they were strong in the pre-market. Even though $ROKU closed under VWAP, I really thought that move was gonna happen to the upside. However, that squeeze and drop back down was probably a short indicator. Had an initial pop then caught a fade. I should have noticed that at the 9/20MA 1-minute because I would have taken this short in previous trades. Got 3 good long plays afterwards to make up some of that bad loss. Also, missread $RNN thinking the close above the 20MA 5-minute would cause a squeeze. Just didn't work out and shouldn't have went long under the 9MA 5-minute and the 9MA 1-minute. That was an obvious one since I did the exact opposite on $FB. Went long above the 9MA 5-minute and 1-minute. $RNN was a great short, though. I do want to mention that even with that horrible loss, it didn't stop me from still making some good trades afterwards. I just looked at $ROKU like.. damn.. I misread the hell out of that. Kept trading although I wanted to punch $CGC in the throat. $ROKU 4/16/2019 $CGC 4/16/2019 $RNN 4/16/2019 $FB 4/16/2019
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1 pointHey everyone! Looks like we're going to get Andrew down here for some Texas Meetups! Planning on 5/19 in Dallas and 5/20 in Austin. I could use some help organizing these if there are any volunteers. Let us know who can attend on the Facebook event pages: Dallas Meetup Austin Meetup Please use these events to confirm your attendance. Thanks, Norm
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1 pointTuesday April 16th, 2019 Sleep: 8 hours. Mood: good, ready to trade. First trade of the day was a sort of double top off VWAP in ROKU. i got in short below the 200 MA on the 1min chart setting my stop loss to the PDH. I was hoping it would keep going lower on the break of the LOTD but it came back up i hesitated on getting out and it ended up costing me a little more than my $10 risk. GOOD: i think the premise of the trade with the support was good, good R/R. RFI: looking at it after the fact i chased my entry. MOOD: fine CONSISTENT: yes but barely, should have got out right when it hit my stop. Next trade was in ROKU again. I felt comfortable going long again over the $58 dollar mark. added more on a new 5min high over VWAP. sold half just shy of my initial profit target. then half again on another break in an ABCD pattern. held the rest for just under $59 then moved that down to $58.90 after it stalled out. i should have got out earlier but i held on for the breakeven. GOOD: added more when the trade was going in my favor. scaled out above 2R. RFI: held too much too long, need to do the first 75% above 2R and then half the remaining at the next level then only save 12.5% for the last bit or just get all out. i'm getting killed in commissions. MOOD: glad to have a winner, wish i would have made more. CONSISTENT: yes. Not a bad first day back from a couple day break. I need to change something about my trading because if i have one loser (at stop loss) and one winner (at profit target), then i should be +1R on the day. instead i was 0.2R positive and negative with commissions. i need to at the very least ALWAYS get out of losers at -1R and be patient enough with my winners until they're at 2R then get out almost all at or above that level. i'm not going to be net profitable until i can do those things. What i did good today: Kept a level head and made a good trade in ROKU after getting stopped out. What i did bad today: Not being flexible enough in my profit expectations. should have exited my final shares well before getting stopped out at B/E. also still hesitating to cut my losers. What can i do better tomorrow: Cut losers at determined stop loss. no exceptions. keep working on scaling out on winners.
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1 pointAh... I'm getting in the mojo. 5th day positive realized, but still having some negative p/l days. (Near break even mostly) Not many commissions but once I bump share sizing up I think some of that will balance out. Didn't make any mistakes today, although I missed a few moves I watched but decided to not take. Got in too early on $MU twice, but finally caught the move to make up for losses. Still working on my short bias, but I'm getting closer to a neutral state each day. Also, still working on my moving average trades. On $MU, I feel like my first attempt was good because I was trying to catch the move. My third attempt is an obvious view on what I was attempting to catch the first 2 times. Worked out perfectly. I chickened out on $WFC the second time and missed a good move. Great trading day I'd say. These wins outweighing my losses is helping my confidence knowing that what I'm doing is working. I'm off to study these charts more. $MU 4/15/2019 $WFC 4/15/2019
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1 pointMonday 4/15/2019 I had a well-being score of 5/10 this morning. Nerves were better, still not good, but definitely better. I took two live trades today with AAPL and DIS. I was watching DIS on my main screen since AAPL/MU/AMD did not have volume in the premarket. Then the volume came in on AAPL with 400k in the first 30 seconds, so my attention turned to AAPL. Then about 30 seconds later MU had a really good “Vish” setup so I switched my attention to MU. I was ready to go long if it broke the 50MA on the 1min chart. But it didn’t and my attention went back to AAPL. AAPL had a “mini ABCD” setup and went long at the break of the 2min candle body. I took my first partial at the HOTD, which was only 10c away. It’s not a rule to take a partial there, but I notice I don’t regret it when I do. Then the price tried to break the 199.82 too many times unsuccessfully that when it touched it again I took another partial. Then all out at B/E. The next trade was a 5min ORB with DIS. It had an ABCD formation within the 5min. I went long when it seemed to have bounced from the 9MA which was at the same time as the break of the 5min candle body. Since DIS is at an all time high, I only had the high of the day as a target. In these situations I will use the high of each 1 min candle to take a partial until I ran out of shares. What I did good today: I really liked trading outside of AAPL/MU/AMD that alone made DIS an interesting trade. How did I challenge myself today? My finger was right on the buy trigger for MU but the final criteria of the setup was not satisfied and I didn’t take the trade. What I did bad today: That was a “B” setup on AAPL. At least it was a setup, but probably should have let that one go by. It just happen to be a small winner by luck. What can I do better tomorrow: Still need to get better letting so-so setups go by. On the positive side, if I am starting to be concerned about taking the “B” setups maybe my issue of taking trades with no setup has improved.
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1 pointApril 12, 2019 - $AMD (Partial + 1) Took a 5 min ORBD on $AMD. I got a partial, and took another half out near the profit target. I exited when it broke the 9 EMA. Another good trade on $AMD. Eventually, after a strong pullback it went down near my profit target. Sample Set Results P G S P E S P P P 10 11 12 13 14 15 16 17 18 19 20
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1 pointHey traders! You know me as Matt R, blowing up the chat with Pivot alerts. I never traded with pivots before about a month ago, but turned them on one day by accident and man, was I glad I did. I did some research on them and it's changed the way I'm trading. I'm calling out stronger supports, taking better less risky trades, and getting out much safer than I was before. For those who don't know what pivots are, here is a great article to start on: https://thesecretmindset.com/pivot-points/ Tells a little about them, how they're calculated, and taking some basic pivot trades. In my opinion, they're just strong reversal trades, but instead of you going on your own and trying to see a W, or head and shoulders, or ABCD, or any other things that are subjective, this is a level that every single trader with a computer has access to, and is staring them in the face. They are numbers that DO NOT CHANGE!! ALL DAY! Everyone on the planet has the exact same numbers. And you know what else that means? Computers have them too. Which, in this case (and not usually the case in day trading) is great. So have I figured it out and gotten 100% success? No. There are some times that I get faked out, just like any reversal. But my stop losses are shallow and my $10 and $20 losses are manageable when the rewards are so great. And now, I've started noticing even more trends with these. Here are the two main trends that I see on these trades: 1) NEVER take a pivot trade that is going against the stock (short a stock going up, long one going down) unless it CROSSES A MOVING AVERAGE! Just because the stock hits a pivot doesn't mean it will reverse. A lot of times a strong stock will just blast right through. I have examples of this in all three charts below. 2) If you do take a trade that bounces off a pivot and then crosses a MA, beware of normal resistances, like VWAP, other resistance, HOD, Open, etc. I have found that three (3) 5-min candles in a row or a MA cross of any kind mean the trend is possibly over and the pivot reversal could be done. COULD BE. Just keep your finger on the trigger. These things are not bullet proof, and are subject to the same issues other trend trades are. People can always change their mind, or news can come out, or whatever. We will not always bounce happily from one pivot point to another. That's it so far. I attached some photos of some charts of trades I did. I took a few false pivots and tried to figure out what happened. Each time, it was because I broke one of these two rules. The other thing you need to know is that you could be buying or selling on a bounce. That is ok. Pivots bounce 2, 3, 4, or even 5 time before breaking, especially over slow periods like lunch. See the SQ example 1. You need a lot of patience with this strategy. If you took the trade at the first bounce, you would have been at break even for some time. Stop losses are your friend here. Which leads me to rule #3. 3) Set your stop at a pivot trade above the highest candle wick above the pivot, which really shouldn't be more than $0.10-0.20 or so. See, so your risk on these trades is very small, so you can price/buy shares accordingly. As far as price targets for these, obviously the next closest pivot is the end target, unless the move is breaking one of the main rules! (It's not near a MA, no supports in sight, etc) Just pay special attention to each 'obstacle' as I call them. Once you've passed another one, it's one step closer to finishing the Pivot journey. The final thing that's exciting about these is holding a position long or short that's approaching them. In the last photo, NVDA was a trade I had long from open from another strategy. I held that puppy until $144.50 because of these rules (no breaking MA at pivot, etc). I hope this article helps! Again, this is what I've seen, practiced, and read. Typical disclosures, don't listen to me, I'm a nobody, do your own research, etc etc. However, these PPs are very exciting and I hope it will help all of us be more confident and able traders. Anything to give us a leg up over those other people, right? See you guys in the chat and let me know if you start seeing additional trends for us all to become aware of! Thanks guys! Matt R
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1 pointHey Matt! Thanks for sharing this, going to queue it up to read that article this weekend.
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1 pointHere is my setup which I hope you find useful. My buttons consist of 4 for buy and 4 for sell: Notes: BUY: places a limit order with 1/4 buying power and attaches a stop loss at 99% of last price at time of order. Note, the method suggested by Andrew at the very top didn't work for me and I found out that you couldn't attach a stop loss order with qty = position and price= av.cost as at the time of running the command there is no position to start with. So what I did is send two separate orders with one command, both with 1/4 buying power, one buy limit and one stop market Breakeven: It first cancels any pending orders (i.e the existing stop that went with original order) and then places a stop order at average purchase price Sell Half: Assuming you would do this to cash some profit (i.e you are on the profit side), it cancels any pending order, sells half the position, and then places a stop market for half the position at original purchase price. Close: Sells all and cancels all pending orders Same but opposite positions for the Short commands BUY: ROUTE=LIMIT;Price=Ask+0.05;Share=BP*0.25 ;TIF=DAY+;HANDINST=ANY;SSHARE=0 ;BUY=Send;ROUTE=STOP;StopType=Market;StopPrice=last*0.99;Share=BP*0.25;TIF=DAY+;HANDINST=ANY;SELL=SEND BREAKEVEN: CXL ALLSYMB;ROUTE=STOP;StopType=Market;StopPrice=AvgCost;Share=Pos;TIF=DAY+;HANDINST=ANY;SELL=Send HALVE: CXL ALLSYMB;ROUTE=LIMIT;Price=Bid-0.05;Share=Pos*0.5 ;TIF=DAY+;HANDINST=ANY;SSHARE=0 ;SELL=Send;ROUTE=STOP;StopType=Market;StopPrice=AvgCost;Share=Pos*0.5;TIF=DAY+;HANDINST=ANY;SELL=SEND CLOSE: ROUTE=LIMIT;Price=Bid-0.05;Share=Pos ;TIF=DAY+;HANDINST=ANY;SSHARE=0 ;SELL=Send;CXL ALLSYMB SHORT: ROUTE=LIMIT;Price=Bid-0.05;Share=BP*0.25 ;TIF=DAY+;HANDINST=ANY;SSHARE=0 ;SELL=Send;ROUTE=STOP;StopType=Market;StopPrice=last*1.01;Share=BP*0.25;TIF=DAY+;HANDINST=ANY;BUY=SEND BREAKEVEN: CXL ALLSYMB;ROUTE=STOP;StopType=Market;StopPrice=AvgCost;Share=Pos;TIF=DAY+;HANDINST=ANY;BUY=Send HALVE: CXL ALLSYMB;ROUTE=LIMIT;Price=Ask+0.05;Share=Pos*0.5 ;TIF=DAY+;HANDINST=ANY;SSHARE=0 ;BUY=Send;ROUTE=STOP;StopType=Market;StopPrice=AvgCost;Share=Pos*0.5;TIF=DAY+;HANDINST=ANY;BUY=SEND CLOSE: ROUTE=LIMIT;Price=Ask+0.05;Share=Pos ;TIF=DAY+;HANDINST=ANY;SSHARE=0 ;BUY=Send;CXL ALLSYMB