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Showing content with the highest reputation on 05/17/2019 in Posts
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3 pointsHi All, I found a classic chart patterns graphic after seeing that Michelle and Carlos have this up on their wall and really liked the idea of having it as a reference. It also coincides with Robert's video on wedges and triangle patterns. Here's a link to high quality sections of the chart examples: https://www.behance.net/gallery/27641581/Classic-Chart-Patterns-Print Added the Japanese Candlesticks chart which is really useful too.
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2 pointsThursday 5/16/2019 I had a well-being score of 6.5/10 this morning. My nerves were OK. I took two live trades with AAPL. Double stop out day. Recently, I have had a win-rate of <50%. So statistically I will have at least one day a week that I will stop out on both of my allowable trades. Today was that day. Premarket looked great for AAPL again. So again I planned a few scenarios in my head, depending on what AAPL would do after the open. The only concern is that if AAPL dropped and bounced off of the 189.30 level (which is what happen) the price has to move $1.80 to clear all the levels before I would take an entry. That is a long way, so I was doubtful at the premarket this scenario would play out. So AAPL sold off and bounced off of the 189.30 daily level. Price was rising, but it had to break through 6 strong tech levels before the R/R became ~2. The final level was the 200MA-5min. When it broke that level, with a great looking hammer, I went long. Price instantly reversed. It is true that the price only broke the last level by about 2 cents, so I might have entered before I confirmed a clean break. Then the price went and tested my S/O level 5 times. Usually when the S/O holds up that many times the stock heads finally in the right direction. Not this time, where the 6th time it tested my S/O it broke threw by a couple of cents. I stopped out and the stock instantly reversed and climbed 50 cents. What it looked like when I took the trade: 1min 5min I took my eye off of AAPL for a few seconds to look at my other charts and saw the SPY was REALLY strong. I turned back to look at AAPL again and saw it had the same setup again. I went long when it broke VWAP. I know I didn’t wait for the 200MA break, but I was long biased when I saw SPY just getting a lot stronger. I held on to the trade for a few minutes, while I was watching SPY heading higher and higher. Finally, it reached my stop out again where I ended the trade and the day. My score card for today: Not the best trades with my early entries, but not terrible either. What I did good today: Never thought to break my 2 trade rule, even though the thought of revenge trading was high. How did I challenge myself today? Held through 5 price retraces to the brink of my S/O. What I did bad today: Entered early on both trades, though it was not to dramatic. What can I do better tomorrow: Need to watch my AAPL trade videos to see how the stock treats the 200MA-5min. Need to determine how much room I need to give on a break. And of course be patient and wait for the clean break.
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1 pointFriday 5/17/2019 I had a well-being score of 6/10 this morning. My nerves were very good, eager to trade. Normally I dread Friday trading, the day I give all my profits back. But after last Friday, which was an average Friday for me so it was bad. I decided until further notice, I will take half shares on Friday. It really kills my weekend trading so poorly on Friday, I was hoping the half shares would remove some of the sting. Then last night I thought I should take advantage of that? If I am forced to trade half share size it’s a good day to step out of my comfort zone. So the plan for today was half share size and no AAPL or AMD trades allowed today. Actually, I didn’t put them watch-list or give them a chart. Instead my two Montages I had NVDA and BABA. From my back testing NVDA isn’t in play that often. But when it is, it trades at the open well. My back testing says the opposite for BABA for my setups, at the open, BABA is completely unforgiving at the open if you take a B+ setup. Though A+ setups do work great on BABA at the open. But if it is just a “good” setup, the win% is low. So I have an instinct not to watch BABA at the open. Then I thought actually that’s perfect, I shouldn’t be taken the B+ setups anyway. So BABA was on my second Montage. This actually got my mood in good spirits. I was looking forward to the opening bell. I took one live trade today on NVDA. Just as I normally do, I contemplate some scenarios in my head (if then stuff). Though I did not know if that works on NVDA and BABA. I don’t know them that well. So NVDA sold off and bounced off of the $157 mark. When it reached VWAP it had a really nice hammer and good volume. I went long when it broke VWAP. Though it broke it by 10c it immediately reversed on me. I should have waited for the break of the $159 level as well ( a few pennies higher), but my R/R was 1.9 so I was probably pushing the entry a bit. The price retraced and tested my S/O level (158.12). It bounced and moved back to VWAP helping prove that I picked the correct S/O level. The price rose and reached my first target (159.39) but I got a horrible fill almost at B/E. My second and third partials were fine, then another bad fill on my fourth partial. At that point I really wanted to wait and see if NVDA ran more since it was a red to green, but at half shares I had very few shares left. So I got out at the top of the candle. Even though I was trading half share size, getting $2.50 from NVDA is a one and done day. Plus, I REALLY wanted a positive Friday for a change. So I was not going to trade any more. What it looked like when I took the trade: 1min 5min My score card for today: Nice setup and well chosen S/O level, but entered the trade too early. Too many partials as well. What I did good today: Created a good plan for today. How did I challenge myself today? I stepped out of my comfort zone and didn’t trade AAPL or AMD. What I did bad today: Still early on the entries. What can I do better tomorrow: Don’t press the entry. If you like the trade but R/R is a little below 2, still take the correct entry. A bad entry is worse than a slightly low R/R.
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1 pointHola Todos desde Trujillo Perú, Estoy retirado tempranamente luego de 35 años de trabajo para empresas Financieras los últimos 20. Los últimos meses encontré una oportunidad de hacer dinero, pero como más de uno en el cuento he pagado mi derecho de piso con Dinero Real pero estoy convencido cada día más que lo podré hacer con la adecuada disciplina y manejo de los riesgos. Gracias Abiel por la acogida y primeros consejos. Hoy en la clase 5 vi mi radiografía en la lamina del grafico que se genera una caída tipo Hulk. Lo bueno que he parado en este momento y me estoy replanteando el como seguir, que ahora gracias a BBT se como hacerlo. AL simulador !!! Estoy cambiandome a IB y DAS, también aprendiendo los nuevos set ups. Me quedaré con dos de los anteriores que sabía hacer bien y probaré los nuevos para finalmente operar con 2 a 4 setups, solo haré un operación por vez de principio a fin y buscaré que se dé mínimo el 1:2 reward. Confieso que debo amarrarme las manos para no entrar donde no debo o de manera improvisada. Saludos para todos y exitos en su travesía.
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1 pointSometimes we trade the same stock, we talk to each other about setups and what we are looking at, but often take different trades. On the rare occasion we have traded against each other.
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1 pointMay 15, 2019 - $TEVA (1 Target) Since going live the middle Wednesday of the month, has traditionally been my biggest losing day. For whatever reason, I would always have extended losses on this day. So for today, I was more than happy to only take one trade and let it be a winner. I was not pressing my luck. 1st Cover - Was a quick pop down which from the time I pressed the hotkey would have been a great move. 2nd Cover - That was at the profit target. All Out - I exited when the stock pop quickly back to my 1st out and stuck with my profit taking plan of letting the last bit go further or stop it out at my 1st out.. Sample Set Results S P P 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
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1 pointMay 7 through 10 I observed a valuable lesson this week. Just like in life, to do something well you must be focused on it and can not just do it to do it. In trading this can have some serious consequences. For the past four days, I have been forcing trading. By this I mean, I had time to conduct my pre-market routine and trade the open, but my post market routine and reviews I could not get done, because of the enormous amounts of other things in my life going. The overwhelming feeling of being over tasked definitely slipped into my trading this week and I am just glad I was able to maintain my discipline with risk management which help persevere my capital. In all I took 6 trades this week 3 on Monday and 3 on Thursday, all of which were outside my edge. My results were 4 stop outs, 1 partial, 1 hit profit target (although my execution was terrible, so I gave most of it back to my broker). Now for the good news, next week is a new week.
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0 pointsguys! I fly out on June 22 evening to Italy, unfortunately! How about having it on 21st?