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Showing content with the highest reputation on 05/24/2019 in all areas
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4 pointsRoutine: -Reading -Music -5 minutes meditation (wich was pretty hard my mind was always thinking)¸ Psychological and physical state before session: -Shaky from yesterday -Not my best night I get to bed late and only had a 5.5h sleep -Some ambivalence about partialing to save profits or wait, hold trade vs momemtum Goals for the day: -2 trades max -Be very aware at how I feel Psychological and physical state after session: -Happy -Proud to get back from this bad day -Confident at my skills as a market learner and hard worker beginner trader -I know my biggest issue is to control my Hulk days and emotions when things goes bad What I did good -Come back from a lose in the beginning and stay focus -Had a good idea and take setup in my playbook -Wait most part for my profits target What I could did better -Follow my plan and what chart and tape told me -Improve my tape reading skill Strategy description Premarket breakdown -Stock gap down in premarket at least 2% -Trading mostly below VWAP in premarket -Most MA are above in all timeframes -Next technical level give good risk/reward Big picture -SPY gapped down yesterday -Little recovery in the premarket (about 0.4%) but not that much active -Next technical level give somme room Intraday fundamental -TSLA was in an hard down trend from the las days -A lot of news in the last days and negatives comments from analysts -Kind of bad sentiment about TSLA -Had a bounce yesterday -Gap up a little bit in premarket Long term technical analysis -Trending down -Next technical level give good R/R, PDC, YY low Short term technical analysis -Traded mostly below VWAP and MA exept 200SMA in premarket -Consolidate just above Y high in premarket Reading the tape -I'm really not an expert in this but I try to improve -There was occasionnaly big bid in the level 2 mostly when it break support level or whole number -There some pullback at the ask but often have a really clean stop at 9EMA on 2min chart When it break YY low it was a huge wave of at the bid for quite a while Trade management -This is the perfect exemple of good idea and bad execution and trade management -I get a very good entry and add more on a little pullback -I was nervous from by bad lost of yesterday so I partial, but made a hotkey mistake, wich really shake me so I exit most of my position quickly and cover the rest in a little pullback not near close to my b/e. -After I just teold myself ''It's a short it's a trade of my playbook, but I dont wait a good entry so I entered several bad places get stopped out or got cold feets. -I finaly get I decent entry when it break the low of day which seems a potential resistance level. -I partialed a little part of my position @ daily level 192.48, the bigger part @ Y low 191.90 and finally I exited the last part when it makes a new 5min high @ 191.05. I was really in the driver seat I think I should wait when it fails to make a new 15min low. Trade review -Good idea from my playbook -Good setup -My first entry was really good -My emotions made me took some bad decisions and not follow my plan -Happy to prove myself I can trade after this terrible day -If I was more confident there's a lot of place I could had to my position
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4 pointsMay 23, 2019 - $AMD (Profit Target) Today was the model for how I hope to trade everyday in the future. I put $AMD on my list because me and $MU just do not get along for some reason. I saw the rejection at VWAP and entered. I was a little quick on my first two covers, but I believe that was more because of the last week of having a few losers. I let my last little bit run to the profit target and got out when i started noticing the buyers taking control of the price action. Overall, though great day and I needed it to replenish some of the emotional capital I have been losing in the last couple weeks. Sample Set Results, S P P P P S P P S G 11 12 13 14 15 16 17 18 19 20
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3 pointsFriday 5/24/2019 I had a well-being score of 6.5/10 this morning. My nerves were not good due to my poor trading yesterday. I was unable to take any trades today due to issues with CMEG. I first tried to take a 2min ORB with FB and saw the order rejected. A minute later I saw AMD setting up and tried an order and also rejected. Then I received a note saying CMEG had an issue on Wednesday. Essentially, I stopped trading. I tried switching to SIM but that caused a force shutdown of my platform. I tried to send a report to CMEG and that crashed my computer and needed a restart. I was done for the day. Looking at the charts now, compared where I tried to send an order, my entries were so-so today. FB setup was not fully developed and I entered too early. I still would have made it to my first partial, but it would have been a substandard score card. AMD was a nice setup and an OK entry, though it would have only made it to my second partial before reversing. What I did good today: Didn’t trade. What I did bad today: Entered too early on FB setup was not complete. What can I do better tomorrow/weekend: Lots to do this 3 day weekend. Write weekly recap, catchup on other BBT journals, watch everyone’s video recaps, run weekly back testing, reread my own journal entries, continue reading The Playbook (Bella from SMB’s book), general weekly chart review and create my trading plan for next week. I hope everyone else had (or will have) a good trading day.
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2 pointsHave you tried Tradervue, it is calculating the win % properly (not counting the partials as separate wins). It is also free for 100 trades in a month. I am using it now as free, as my trades are limited, but soon will subscribe the paid plan. I like it. 17% winrate is not too bad. I think some of the guys make money with just 35% winrate too, as the Wins are huge and losses are small. I agree, the emotional part is missing in SIM, I just reduce my size in Real. When I get FOMO then i jump on to SIM (so kind of both, instead of just SIM). Stay Green.
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2 pointsNothing to be ashamed of Rob. It was probably the lack of sleep!
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2 points23.Mai.19 Green day. Today $TSLA was in Play, but i never trade $TSLA and $ROKU, too volatile for me. $LB and $BBY had earnings, volume was Ok. I had $CRON, $MU, $AMD, $TWTR and $AAPL on the watchlist. I had $AAPL and $MU at the Open. $MU had formed the 3 candle setup. I took short $MU and Andrew also called out in the room, so I got my confirmation. My Entry was 33.52, Stoploss 33.62 (premarket low & VWAP) 10c. I took one partial too many. The Move was 60c. It formed a double bottom on 1 min and a new Higher low on 5 min, I got all out here. Good: Entered the trade only after the confirmation of setup by $MU. No FOMO about $TSLA or $LB I avoided $LB and $BBY as the volume was not so significant at the open. $X and $JD popped up close to the open, but I ignored them as it was too late. Improvement: My first partial was 1:1(RR), I will need to avoid 1:1, it will not work in the long term. I also took 2:1 and 3:1 which are ok.
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2 pointsThursday 5/23/2019 I had a well-being score of 5.5/10 this morning (only 4.5 hours of sleep). My nerves were OK. I took two live trades with AAPL and MU. For the first time since I have been posting, I was so embarrassed by my poor trading today that I considered not posting today. After about a minute I came to my senses and realized it’s more important than ever to post today. I need this consequence showing everyone who reads tis post the stupid mistakes I made today. When I first logged in this morning I was quite happy to FB with some premarket activity, it usually quiet in the PM. After a quick review I setup my platform for FB to be my primary focus and MU or TSLA as my secondary. I left my platform to get ready for the day and when I came back the AAPL sirens were calling. I saw that the daily and PM chart looked good and again I ignored my back test data and made AAPL my primary focus again. And yes FB made a really nice 2min ORB without me again today. Yes, AAPL had a really nice setup with a really bullish hammer. But my back-test data says this no longer has an 1min/2min ORB edge to it for AAPL. So that is mistake number one. Mistake number two was the premarket candles were respecting the $180 as a resistance level and thus should be my breakout/entry point. I even drew a line on my chart to help with the entry. For some reason I decided to enter at the 50MA instead, though I am not sure why. If I followed my plan I would not have taken this losing trade. Mistake number 2. What it looked like when I took the trade: 1min 5min As usual with AAPL it reversed the instant I clicked the buy button. So much so that my order was filled well below my planned entry point. The price quickly dropped and I was stopped out. I am hoping this has finally taught me to follow my back test data. The only positive thing for this trade is at the last moment my frontal lobes took some control over my reptilian part of my brain and thought with the back test data being so bad at least take half share size. Which I did. So this was only a -0.5R S/O. So this is when things got really bad. I was looking around for another trade and I see MU was setting up, but not sure what yet. If it bounces off of VWAP it looks like a good short or breaks through and engulfs the first 1min candle it would make a strong bullish hammer. So I was watching MU to see what it would do. Now I wish I remember my thoughts during the entry because then I could analyze my reasoning and then confront the poor behavior. But I don’t remember and I am usually good about recalling my thoughts. So the price broke VWAP only slightly and I went long!!! It wasn’t a hotkey mistake, The little I remember was wanting to go long because I remember calculating my stop loss on a stop level BELOW my entry. So I must have been planning a long. But why? I have a picture, in my playbook, of an almost identical setup AS A SHORT. Why would I go long? Well within a few seconds I realized my mistake which then begins the next phase of my disgust for myself. I totally froze. I kept telling myself this looks like a really good short why am I long? A whole minute went by and then finally I heard over the chat Andrew say he was going short MU. That was finally enough to break out of my stupor and exit the trade. So at least I didn’t take the full –R. I have been much better lately about not taking bad setups. So it surprises me not only did I take a bad setup I took the WRONG setup on MU. I can’t remember the last time I did that. My score card for today: What I did good today: At least I knew to go half share size with the AAPL trade. How did I challenge myself today? I still posted my journal entry even though I am completely embarrassed by my trading today. What I did bad today: Fixated on AAPL. Took a completely the wrong setup on MU. What can I do better tomorrow: Well, since its Friday tomorrow at least AAPL is off limits (a new rule of mine on Fridays).
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1 pointIn this video AdventureDogLA shows us how to set up Risk Controls in DAS Trader Pro. Risk Controls enforce limitations such as maximum daily loss, maximum shares traded per day, etc. Risk Control Page is a safety net to keep in control our loses, either to have an external control over our behavior as traders or due to a contingency such as failures in the internet connection, electric power outages, broker failures, etc. You can find "Open Risk Control Page" in DAS Trader Pro Account window, just right-click in any row of that window and Risk Control Page will open as a popup browser window to let you update your risk control settings. Some considerations: 1. This configuration works with real accounts and simulator 2. You can deactivate settings "Risk Control Page" anytime by leaving all in blanks and clicking SUBMIT 3. When you are using DAS linked to IB, or simulator, the Risk Control settings are handled by DAS. DAS staff updates your settings manually (the form is emailed to them) anywhere from 2 to 30 minutes during business hours. 4. In LOSS fields, enter a positive number. 5. “No new order” avoids orders for the current day 6. “Pos Loss” = Position loss. 7. “Enable Auto Stop” will automatically close your positions when you hit the Max Loss / Total Loss. 8. “Max Share - Max auto stop execution share per day” = How many shares can be sold / bought by the Auto Stop mechanism. 9. “Max Auto Stop Order Size” = Maximum size per order made by the Auto Stop mechanism. 10.“Delay for next order if exceed max order size (sec)” = Time between orders if the Auto Stop needs to place multiple orders to close your positions. 11. “Stop Gain Account Net Realized PL Thresh“, “Drawdown Percent of Max Net PL“ , “Pos Stop Gain Thresh “ and “Drawdown” - Like Auto Stop but for gains. The threshold is the profit the Stop Gain is looking to hit, the Drawdown is how much it can drop from that target before your positions are closed. Example, you set a threshold of 2000 and drawdown of 20(%). When you make 2000 in P/L, the Stop Gain will trigger, and will close your positions if you drop 20% ($400) from that value, closing you out at $1600 Net P/L.
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1 pointRoku was a really nice ABCD pattern in 5min chart, but I found it was hard to estimate the R/R beacuse it's at all time high.
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1 pointhey Man, you know what, you are not alone. been there done that. the important thing is that you realize how wrong you trading attitude was to not not do it again. dont try to forget the pain it causes, remember it , remember it well., when we work hard, one day(probably not in the near future in my case) we gonna take the money from suckers like you and me.
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1 pointI took almost the same trade on mu. my theory on why the stock actually was not weak as I thought at the moment is, on the 2min the 2 candles with high volume, the first is a kind of indecision candle, the one after also has high volume but a relative small body, these both suggest quit a lot of buying power. Maybe this should have signaled that even with at vwap it could go both ways with no real preference. Meaning don’t get it. What do you think? edit, on edgewonk you need to manually combine the trades that are just partials into 1trade , it’s quit a pain to do this, I don’t really like it and stopped using it, the import also doesn’t work well for me. still trying to figure out a good way of journaling.
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1 pointHow many tickets are you watching at the same time? I watch 3 at the moment. I wish I could watch more but the truth is I am hardly capable (read not yet) of keeping an eye on all of them. But still, with just 1 you need to be a bit lucky I think and picky on what you are watching. I travel a lot for work, spend about 100 nights or more per year in a hotel and those days the past months I could always see just 1. I find it not enough to be safe.
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1 pointThursday May 23rd, 2019 Sleep: 7 hours. Mood: good ready to trade. i've been thinking about my win percentage now that i've been scaling out and neither my excel sheet nor my Edgewonk journal is calculating what it truly is. for instance this week, i had one winner that i sold in two parts but both my journals show that as two wins. i had no trades Tuesday and three stop outs yesterday so i should have a win rate of 25% but my journals both say 40%. i'm going to start keeping a weekly "real" percent win on my weekly and work on getting that over 50%. almost took MU on the ORBD but didn't then thought about taking it on a double bottom but thought it was too risky. I waited for it to come up to VWAP and then make a new 2min low and got in short, i was short bias because it was rising with lower volume so i thought that if it made a new 5min low it would try for the LOTD again. as soon as i got in i realized it was not close to making a new 5min low and it closed above VWAP. got stopped out on a new 5min high. GOOD: got out of the trade RFI: no 5min signal to get in MOOD: frustrated CONSISTENT: yes Took the same trade again except this time i did wait for a new 5min low but i got short right in the face of the MAs and i went too heavy and got stopped out again. stubborn trading trying to revenge trade the same short again. at least i waited for a new 5min low this time. GOOD: waited for a new 5min low RFI: shouldn't have tried that trade again MOOD: dissappointed in myself for trying another short above VWAP and the MAs, just being stubborn CONSISTENT: yes but a little stubborn on my exit. What i did good today: limited losses What i did bad today: guessing on trades and not waiting for setups. What can i do better tomorrow: trade setups. Other comments for tomorrow: back to sim unfortunately. there's just no reason to trade live with a win percentage of 17%, i'm just wasting money. i don't like having to trade in sim because the emotions just aren't there but until i can reliably trade my edge there's no point in working on emotions. i'm off until Wednesday which is a bummer but i will regroup and come back next week!
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1 pointThanx guys today i did not trade that well, i did end positive though. i made 7 trades, 3 winners and 4 loosers. i went short TSLA before market open because it looked like a head and shoulders and close to the open they tend to move back to vwap once. I didnt want to hold it during the open so i got out but with some profit, i went short again, almost same as andrew i believe but got stopped out and didnt get back in again, that was unfortunate. i was also looking at LB, i went back to vwap and above but got sold off again quickly so i went short, it went down a little but went up again just as fast, my entry wasnt good, but i think it was not a bad try. This move however mad me think its a long and i went in on a little pullback on the 1 minute.i topok one quick partial but then it went down to my entry and i got out because i didnt want to go minus since i had a partial. i think i need to reconsider this as this threw me out of a nice ride. i was very strong so i got back in one more time on a pullback i got out again now just above breakeven, again i need to work on this. i took one more long at the point where it was making the wedge but got out without a really clear reason. but if not i would have probably get stopped out on the last wig down before it eventually popped... i took a shot on mu for a short at vwap, got stopped out at a bad spot, should have gotten out bit earlier. not great trading today, getting out early on a winner is not good trading . its been many times now i get stopped out on something that is just a short spike. i need to decide to get out more based on price action instead of entrypoint i think. but this could be very dangerous too... Still i may need to take a wider stop on some trades.
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1 pointMay 22, 2019 - $S (Stopped) I entered too quickly and should not have taken the entry were I did. I entered at the low of the day instead of a pullback towards VWAP and break. My entry should have been 4 minutes later (Maybe) it didn't break the previous candle, so I should not have entered there either but this would have been a better entry than the one I took. This is what happens when you trade a stock that is not in play (Rule 7) Sample Set Results S P P P P S P P S 10 11 12 13 14 15 16 17 18 19 20
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1 pointIf you're using the DOLLAR RISK version, the initial BP calculation is calculating the Maximum Affordable Shares -- the shares your buying power can afford to buy. In this scenario, if you selected 50% BP, your risk would still be at $50, but the Maximum Affordable Shares calculation would now be cut in half. This only comes into play if you're doing position sizes that bump up against your actual leveraged buying power. I'll be including it when I release the video along with a bunch of other things. Yes, you can type whatever you want. The new version will have the SMRTM in it. Yes, I'll be releasing them by the end of this month. Been a hectic year so far as I had many projects come due at the same time. I've got a lot of stuff brewing that I can't wait to share. V1.5 will be out this week with the following changes: - Bug Fixes - Price Target Hotkey - Range Order Hotkey - Zoom Y Axis Hotkeys I just have to nuke my Excel as it keeps locking up with the latest version of Windows. Along with the video and the new version (I want to launch both together)
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1 pointI emailed DAS support about the risk control page, here is the exchange. When I make a change to the risk control page and hit the submit button, when does the change get implemented? It seems to happen the next day but I wanted to check. When I go back to the risk control page, everything is blank. Is there any way to see what the current risk controls are? Is there a way to remove a risk control setting? How long does that take to go into effect? REPLY: Hi David, Once you submit it, we will then receive your risk control page and update that to your account. It should be done within half hour if you submit it in our business hours(Monday-Friday: 8:30am to 5:30pm EST), otherwise it will be update to your account in next business day. Yes, that page will always be blank, and currently there is no way for client to see it. Client will require to contact us for that information (either via Email or Live chat) You can contact us (via Email or Live chat or Phone) to remove it, or submit a new blank risk control page. -- Best, Jason He DAS|INC Phone: 845-282-7859 x4 Website: dastrader.com | Twitter: @DASAlerts | Facebook: DASTrader
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1 pointJust added some details about Risk Control Page settings in my original post...