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Showing content with the highest reputation on 06/06/2019 in all areas
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2 pointsThursday June 6th, 2019 Sleep: 7 hours. Mood: good, ready to trade. first trade of the day was an ORBU. i missed the entry on the 2min so i waited for the 5min. i got in 1/3rd my position on the break of the 5min body, risking a new 2min low and then added the rest at the break of the high of the day, moving my stop to the high of pre-market. i sold everything at 3R. Proud of this trade. GOOD: R/R, entry, exit, setup RFI: could have got 4R without a pullback MOOD: pride, very happy. CONSISTENT: yes. What i did good today: took only setups, followed my trading plan. What i did bad today: quit trading. I don't want to give any profits back which is good but there is still a good half hour left and if i hit one more 2R trade i would be at my profit target but i don't want to risk it. What can i do better tomorrow: don't let one winner stop you from taking more good setups on the day.
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2 pointsJune 5, 2019 - $AMD (Stop) $CRON (Stopped x 2, Partial 1) First, the greatest thing about today is tomorrow I get to start a new sample set, so today can be quickly forgotten about. Hulk 101 for me today. Terrible discipline Second, thank goodness that I had the discipline to execute my stops, otherwise today could have ended with me blowing up my account. Last, I have come so far from my first posting with regards to being able to be wrong and deal with losses. I am currently feeling actually pretty optimistic about trading. I know these days will come. The main reason from my sample sets was to help me with losing and being wrong. Today, I lost and was wrong, but I am feeling the same as yesterday when I won and was right. I am optimistic and love this career. I know the reason the outcome happened, because I did not execute the steps in my trade plan well. Sample Set Results, S P P P P S P P S G G P P P S P G 18 19 20
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1 pointJune 6, 2019 - $AMD (Partial) Poor trade management. After yesterday's loss, I was a little shaken today. I should not have exited when the stock tested the moving averages again. I should have let it run to my break even before exiting like my trade plan calls for. I got out early and then the stock ran on me. I am ok with it, but it is a reminder that if you trade not to lose, you also do not gain. Today I was trading not to lose instead of trading my plan. Good lesson though, I am happy with the entry i took especially after having to sit through the first thirty minutes without seeing an entry. This weekend I plan on summarizing my previous sample set and defining this sample set. Sample Set Results, P 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
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1 pointI read Andrew's book and actually meant to join Bear and Bull Traders, but I accidentally joined the bullish bears trade room. The names sounded very similar and I was so new to things that I had no idea how many trade rooms there actually were. So I rolled with it. Bullish Bears What I liked: They discussed options in real time. My only experience with options was for exams and this was different. There were several very astute, veteran, technical traders that impressed me. I learned a lot about psychology, especially because the majority of trading was focused on penny stocks. These can be a nightmare to trade but really have some powerful price action to learn from. By seeing such an extreme representation of the market, I am really able to appreciate less manipulated price action. Really nice people. I felt a lot of love and respect their. Except once- this guy blew up and went nuclear in the chat room. He was promptly removed. They always answered my specific questions and commented/discussed my market calls. I guess I was there long enough to make some good ones so a small group notices that. Small group allows for more individualized attention and you don't get lost in the flow. I respect that the group emphasized that they were not interested in orchestrating pump and dumps. (not commenting on the actual ability to make those happen). Met a trader that I brought over to BBT with me and we communicate daily. Could Be Better: I could tell the moderators wanted to discuss mu/amd/aapl/options more- but catered to their audience (largely rookie penny stock traders looking for a cheap chat room to give them an edge). So the result was, they were talking about penny stocks, but actually taking options trades on AAPL/AMD/ROKU/MU etc in their accounts. No live trading shown at all. Feels like they could maximize their gifts and teaching by expressing themselves through the trades they are really passionate about. A lot of the technical charts they were showing us were so overwhelming with so many indicators and colors. It was unreadable and I couldn't maximize it. Ultimately, the way they were teaching things beyond the basics was just not my style. I did not find the video library very useful since it kind of catered towards heavy indicator usage and crowded charts. It may be good for options or swing trading. Warrior Trading Observations. Trial of 7 days. Ross Cameron feels genuine to me and I think his story is inspiring. Lose it all down to your socks and rise up from the ashes like a Phoenix. I don't want to be disrespectful, but this is my feeling- pure pump and dump with guru leadership. At one point things were not really working out for him so he just called out a totally RANDOM (not discussed at all in premarket. 0 mention of it on any watchlists I noted) $1 stock with no prior action and a TINY float and it immediately spiked and he was like ok i made my profit. Honestly -using great speed, I think I could make money following this guy because he has such clout in moving the market, but I would never feel in control of my destiny. I am not sure I learned anything to actually use in my trading though I did not have access to their course materials. Warrior Pro costs $7000. Conclusion: Not my thing. Investors Underground I never joined the chat but I studied a lot of Nate Michaud's materials and I really appreciated the price level trading he did. It was simple and beautiful and so graceful in identifying the backside of moves. I did not join because the chat was all sorts of hectic. It was just constant comments like "PLUG is at all time highs, ww"...."DRYS out of gas, covered @4.50." Not very cohesive. Like a rough rider, let's trade whatever is moving type of feel Pricey at around 2000/year being the best value option. Bear and Bull Traders I initially joined BBT for a trial a while ago because Andrew's book left a powerful mark on the beginner me. Unfortunately (for me), I was still enamored with penny stocks so I went back to bullish bears. I Joined BBT Lifetime because: I could not find a true consistent edge in trading penny stocks (aka. I lost a bunch of cash trying). Andrew's trading is inspiring. He is genuine. He expresses when he is tired and he gets mad at himself when he over trades or gets chopped up (which is not often). Seeing/Hearing a real professional trader go through some of the same emotions that I do is reassuring and comforting. The Style of trading fits my own...and it is such that I will improve it with more screen time. There are moderators talking trade for most of the day. I can literally sit there all day and practice trading different styles and learning from various people in real time. There are trade recaps live and then posted on youtube. Moderators and people in the COMMUNITY are very helpful and receptive. So many quality individuals that are looking to share and help others succeed! Cost efficient Most people are using the same Das Trader platform. We are all speaking the same language. Hope this helps guys! I look forward to getting to know you and making consistent profits with BBT!
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1 point06.Jun.19 - Live Trade I slept only 4 hours today, so was a bit tired at the open. I had $CLDR, $AMD, $UBER & $ROKU on watchlist. $CLDR gaped down and just above ATL, I thought it would break and go down further. $ROKU was on ATH. At the Open, took AMD Long after the 3C setup on 1min. I closed out my position as i got my RR and had to leave. $AMD popped close to $32, very strong thru the day. Entry - $31.25, Stop - 15c, Profit - 1.5RR and 3RR Good: Took small size (per my last month's observation), traded only the valid setup. Improvement - I made a hotkey mistake by partialing twice, instead of once. I am thinking about trying out ''All or Nothing Exits'' on Live trades, I have been doing that in SIM and it is working well.
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1 pointThursday 6/06/2019 I had a well-being score of 3/10 (4 hours of sleep and a nasty headache) this morning. So not trading today. FOMO OK, I decided not to even watch or SIM. The only time I got near my computer was to grab the SD memory, which I immediately fumbled with it and dropped it on the floor. Then it took me a minute, crawling on the floor, to find it because my eyes wouldn't focus. That's when I thought, "wow, I am so glad I am not trading the open right now".
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1 point05.Jun.19 - DASTrader - BT $ROKU, $AMD, $PVTL were on my watchlist. All 3 of them had harmonious setup (SPY had gapped up). $ROKU on ATH, $AMD on 52week High. $PVTL on ATL. I really liked my watchlist today. At the Open I was watching $ROKU and $AMD (only because I never traded $PVTL before). Trade 1: No clear setup on the first 4 mins on $AMD on $ROKU, I noticed $AAPL, setting up to go higher, I went long after the 2nd 2min candle bounced off from VWAP. But I got stopped out. $NVDA was already dropping from the open, it was only time $AAPL also drops. And after my exit $AAPL dropped significantly. Failed trade. Trades 2&3: At this time Roku was setting for going up. I went long on the 5th min candle, din't get a good fill, exited the position. (TRADE 2) Price bounced back from MA, I went long again (Trade 3). I was not sure if this ORB was valid, at that time, until the 3 candle setup appeared on 2min. So I stayed on my trade, didn't exit on the pullback, as the price moved up. I took a small early partial, as I was nervous about the first loss. I put in a range order and was watching the price action. I keep moving the my stop (VWAP) as the price went up. I made a mistake on the range order and exited most of my position. The setup was still valid, so I went in long for the same size again. exited close to $100. I didn't want to wait watching it longer and also thought at $100 price may drop due to traders booking profits. I was up small green. I came back in the afternoon, Market was really choppy, so decided to not trade again today. May be tomorrow will be a better day. Good: While I was in $ROKU, $PVTL dropped beautifully. I couldn't resist going short, but I didn't. I obeyed my rule of staying in only one Trade. I don't think I can manage 2 trades at the same time at the open. The Range order mistake kicked me out. I immediately went in again, as the setup was still valid, and it was my mistake. This is true, even if I made loss out of the trade (infact price dropped against me after my re-entry) I stopped trading after I felt the market was choppy and I was making mistakes. Live to fight another day. Improvement: I shouldn't have entered $AAPL trade, I should have waited for my setup from my watchlist. I am not comfortable with just ORBs. ORBs with 3 candle setup has higher success. couple of hotkey mistakes today. Ok partials, but today was a rough day so it's ok (although my watchlist was very good)
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1 pointI always considered the Risk Controls more like a safety belt in a car. Although, you know how to drive, you never know what the other drivers are going to do, so the safety belt is there to keep you safe.
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1 pointThor, we are glad you chose Bear Bull Traders! I would also like to encourage traders to give feedback on this topic. I know there are many other trading chat rooms available to all of us traders. Whether you have researched other rooms, joined for a trial period of had been members for any significant length of time, we would love to hear any insights you have so we can improve your experience here with us at Bear Bull Traders. When I was first starting out trading, I joined a couple different rooms, and found things that fit my trading personality in all the communities I found, but there were also major drawbacks from the type or securities traded, live trading support, educational content and the overall environment of the room. So again, will love to hear what you all think about this topic.
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1 pointActually if you like to limit your trades per day/week, you may choose to reduce your account size to less than $25K. Then the PDT rule applies (with the US brokers ofcourse and not with Offshore brokers). 3 Trades per week is extremely good idea for anyone who feels they are overtrading, because then they have to be really picky before getting into a trade. Lot of thoughts and preparations go in before taking the trade. Stay Green!
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1 pointThanks Thor for posting it. I am keen to learn about these. Although most people probably are part of bear bull traders, but it is interesting to know what are the criteria for the best trading chat room? What are the other communities doing well that we can do better?