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Showing content with the highest reputation on 07/02/2019 in all areas
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3 pointsI was sloppy today as well. Tough market to trade today.
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3 pointsJuly 1, 2019 - $JD x 3 (Early Outs x 3) Rough start to the month and this sample set. I did not trade well at all today. I got in on $JD on a 5 minute ORBO. It was a nice entry and good setup, I just was not confident and worried more about being wrong in the trade than letting the trade play out, so I got out quickly. Of course it moves to my profit target within the next three minutes just like my setup and entry said it would. No big deal moved on to the next trade, a 15 minute ORBO, and you guessed it did the exact same thing. Entered on a decent setup and quickly got out. This time I re-entered once I identified what I did and held it to a loss of the moving averages and VWAP. Out of all the trades this was the best managed trade of the day once I was in it, although it was still not the best setup of the day. Today goes to show you, let your trades play their way out and do not enter unless you are willing to take the risk. I am going to take a hard look at my $ risk per share and see if I need to lower it a little bit. I seem fine with the losses, but while I am in the trade, I am not executing well. Disappointing day today with how I managed my trades after the entry. Sample Set Results, P E E E 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
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2 pointsOk day.. considering I'm 2/5.. managed to end green, but small red with the fees... I try to keep it under 10 mins.. so sorry if sometimes I cut the explaining part short.. Also, was at work today, so I had to make calls and etc.. so watched when I was able to. 2019-07-02AMDAAPL.mp4
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2 pointsTuesday 7/02/2019 I had a well-being score of 5.5/10 this morning. My nerves were good. Still on SIM only. I took 3 SIM trades today. One with MU, one with AMD and one with NFLX. Still trading a bit sloppy. MU looked weak, but I needed a really good entry. I got a pull back but was concerned it was such a big pull back it was more like a reversal. Price did bounce and headed lower a few pennies. I went short when the price was between the VWAP-1min and VWAP-5min. I love taking trades in between the two VWAPs. I just don't see reversals occur between the two VWAP time frames. Whatever direction it is going in it continues until it reached the other VWAP. Target was the 39.4 level with a tight stop at the 39.75 level. R/R~3. I tried to take a partial at the LOTD but made a hot key mistake and added a little. I always make a lot more hotkey mistakes in SIM. I then made a real cover, but didn’t notice the price was already was 20 cents into profit and thus at 2R. So I should have made a larger partial or completely exited. Instead I took a normal first partial. Then price reversed and I was stopped out near break even for a small win. Sloppy. I let a 2R get away from me because I didn’t stay in touch of the total price move. This is what MU looked like when I took the trade. My next trade was with AMD. This trade didn’t work out, but I really like the setup, though waiting for the 5min candle confirmation would have been smarter. AMD also looked weak this morning and had a really nice pullback and bounced strongly off of VWAP. I shorted once I saw the 4th 1min candle was going to be red. Target was the 3.70 level and VWAP as my S/O. I did make it to my first partial (the low of premarket) but it reversed and I was stopped out at B/E. There was a bit of a slide on the exit so I was flat for this trade. This is what AMD looked like when I took the trade. My last trade was with NFLX. I was waiting to see if the price would break this really strong support level at 373.25. It didn’t and started heading up. There were way too many levels above it to try to go long. Instead I took a small risk that this was a pull back since it did bounce from the 20-50MA 4 times. On the fourth bounce I shorted. The spread was tight at that moment so I kept the S/O tight at the 50MA with the target of the 200MA-5min. R/R~3. After 10 seconds price reversed and headed back up and I was S/O. NFLX started its run down about two minutes later but I was at my trade maximum already. The loss was small so I am flat for the day. What I did good today: Waited for pullbacks. How did I challenge myself today? Exited at B/E. What I did bad today: Traded sloppy. What can I do better tomorrow: Need to keep discipline on the SIM. Hopefully successful by the end of the week.
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2 pointsTuesday July 2nd, 2019 Sleep: 7 hours. Mood: Ready to trade but a little nervous from not trading for over a week. first trade was an ORBD in MU. I risked the body of the 5min candle to the break of the LOTD. my DAS stopped me out faster than i could get out with my hotkeys. I must be a lot slower than i think i am. GOOD: ok setup, risk was set to the right place RFI: could have waited to see if we were going to make a new 5min low MOOD: ok, a little stunned CONSISTENT: i hit the hotkey to get out as planned so i'm saying yes on this. last trade was no setup in GBX. i liked the previous 5min hammer and the break of a new 2min and 5min low. I thought it was going to break the LOTD and head lower but it's just really choppy and i got stopped out. i didn't get an appropriate amount of shares and i got stopped out quickly. the spread was bad at times and i saw that so i adjusted my share size but it just wasn't good enough. GOOD: adjusted share size for the spread RFI: should have taken less shares, stop out point was not technical MOOD: ok CONSISTENT: yes, i got out at my stop as planned. I switched to sim because i'm just feeling out of it today and the market is choppy. took one more trade in GBX and got stopped out and called it for the day. i'm trading SIM tomorrow and friday to get back in the groove and because i'm assuming we're going to get a choppy week with it being a holiday What i did good today: switched to sim when i wasn't doing well instead of getting angry and trying to make back money. good emotional control What i did bad today: just really rusty and slow on my MU exit. I feel out of sync today. i should have just traded sim but i wanted to try and come back live instead of playing it safe What can i do better tomorrow: trade sim the rest of the week to get back in the flow.
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2 pointsMonday 7/01/2019 I had a well-being score of 5.5/10 this morning. My nerves were not good even though I knew I am trading on SIM today. Actually, I will probably be on SIM for the rest of the week after three days in a row (last week) with only losers. I took 3 SIM trades today. All losers. Two with Netflix and one with MU. Wow, I trade sloppy when I am on the SIM. I guess I will know when my discipline is back when I can be disciplined on the SIM. Since I was on SIM I wanted to use the time to try something new. Netflix has been in play at the open, but it trades very different from other stocks I have traded. So it was good to try it on SIM at first. It was an eye opener. It gapped up like everything else and had good volume the first minute. Then created a nice hammer in the first minute. Both in premarket and after the open there was a strong resistance at the 373.62 daily level. When it broke that level I went long. There was a very strong daily level just below 380 that was my target. I say strong because the daily chart shows it as resistance many times. With my S/O all the way down to the 200MA-5min. The R/R~3 was good, but there was another daily and the high of premarket at resistant levels to be hit before it would reach my target. So even though I was on SIM I still went a little light on the shares. The price reversed and hit my S/O. Or did it? I wrote in my plan for the week to make sure I give NFLX 30-50 cents on all levels. I even reread that plan as part of my preflight checklist. And then what did I do when it dropped a few pennies below my S/O level? I stopped out. It immediately reversed and went back to my entry point. If I gave it 30 cents room I would have not stopped out. NFLX price broke the 373.62 level again and I went long with same target and S/O. It reached my first partial but I got a bad fill. Though I am glancing at the spread often, I am not staring at it. The spread was fine each time I looked, but it wasn’t when I sold a partial and got a bad fill. Soon I was looking at the L1 bid more than anything else. Most of the price movement was these bounces from bid to ask and not giving me much info. But the bid movement gave me some info. When the bid reached my planned first partial I sold some more and got the expected price. Then the price reversed and I went through a battle of the minds, reptilian versus primate. Sadly the reptilians one this round. I knew intellectually to watch the bid. When the bid (not the price) reaches the B/E I knew to exit. But I couldn’t help myself and I waited until the price reached it and exited and thus got a bad fill and it made this trade a loss as well. What it looked like when I took the first trade: I planned to take up to 3 trades today on SIM. My last trade was with MU. MU broke through VWAP and leveled off and made a nice hammer. There was a resistance level at 41.40, which I planned to go long if it broke it. But instead I made two mistakes. First I didn’t check SPY before I went long in case it was dropping fast and it was at the time. Secondly, I went long off of the bounce from 41.25 instead. Sometimes it’s OK to do that but not for this setup. So I entered the trade in the middle of two levels and was stopped out quickly below the 50MA. What I did good today: Actually it was fun trading something very different like NFLX. How did I challenge myself today? Traded only SIM, that’s not easy for me. What I did bad today: Traded sloppy. What can I do better tomorrow: Need to keep discipline on the SIM.
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1 pointBasically, your questions made it complicated lol. Anyway, what moves the market are algorithmic trading, retail traders, and market makers play a role in its movement as well, now patterns are something we trade, but we all know that they don’t work all the time, if the work 50% of the times then it’s good now those patterns aren’t just some pictures which we see and go for an entry, those patterns describe the price action, but instead of describing what the market did in words, we describe it in patterns cuz it’s easier to remember when we visualize stuff, let’s go for the abcd pattern for example, first of all stock moved a lot with volume and made a huge move, then traders at particular level or round number started taking profits, some shorts go for scalp because they know other day traders are taking profits here, which forces the stock to drop, but with less volume since the longs didn’t get all out, the stock pulls back to a particular level or support, at which the short scalpers take their profits, and the longs add to their positions, the stock consolidates in a range until the support is clearly defined, more longs enter into a trade, and shorts exit anticipatIng the break of the previous high which makes the stock get into new highs now this was an explanation of the price action, but instead of explaining it this way which will make people (especially newbies) see it differently and enter on the wrong places, experienced traders explained it simply as an abcd, stock moved from a to b(huge move) pulled back to support(c) take long with stop at c and profit target at break (d), now the strategy seems so easy, why do experienced traders make money on abcds and novice traders lose on them? Simply because experienced traders see this happening over and over and they’re able to identify good abcd pattern from a bad abcd pattern, because over time they saw it happening over and over and over, same can be said about flags, and reversals, double bottoms, they’re all price actions explained in words, but does every double bottom means a reversal? Why is Brian so good at entering and catching doUble bottoms while we get stuck in a pullback before the break of the lod or hod l? Experience again, it depends on how many times you saw the pattern, how many times you journaled it, adjusted it and mastered it, depends on your entry and your discipline on partialing at 2;1 and not greeding, now what does market makers do here? They see our setups, they feel they’re going to work, they want the best entry, they drive the price down by bidding lower, we get scared of the stock pulling back and sell our shares to them, before they drive the price back up and catch a bigger move, what do algorithms do? They drive the price action in our direction as well, algos will be moving along with us retail traders, there’s no reason to trade against us when more money can be made trading along with us dont forget all the swing traders and investors which enter the price for long term investment and they also affect the price action but they stick to their positions my comment became much bigger than I expected it to be,, hope it was at least to the point lol
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1 pointSample Set 5 Criteria Hey Everyone, Skipped posting my fourth sample set criteria, because I basically kept it the same as the third. Only real adjustment was the simulator trades I was looking to take. For this sample set I have adjusted the confirmations a little bit, but I really like the entries I have taken over the last month. This sample set I want to focus on my profit taking, while keeping my entry execution in the same spot. Four areas I want to work on during this sample are: (1) Hold through the initial pullback if the stock does not drop right away (2) Hold off on taking my first partial to at least a moving average on the 5 minute or the low of the day (3) Learn it is ok to be wrong and lose. Confront the emotion of losing and being wrong each time you begin to think about getting out early (4) Keeping FOMO in check, especially with the 5 min Orb strategy My desired outcomes I am looking for at the end of the sample set are: (1) Focusing on the execution of each step in my trading plan. (Indicators, confirmations, risk analysis/management, entry, and profit taking) (2) I want to be comfortable being wrong. (3) Maintaining discipline and not give into FOMO with the 5 min Orb, so I do not get over excited and enter a trade too early All of my indicators, confirmations, and risk analysis that defines my edge is based on information obtained in Andrew’s book and the lifetime Webinars. Edge Defined Trading Plan: 5 & 15 Min ORB – I am still only trading 5 & 15 Min Orbs. I have found over the past 3 months that both strategies produce about the same results. 5 Minute ORB Pullback Met Parameters - 98 of 383 Total trades within parameters that have worked - 74 of 98 (75.51%) 15 Minute ORB Pullback Met Parameters – 107 of 384 Total trades within parameters that have worked - 84 of 107 (78.50%) Stocks for Watchlist: I select up to three stocks to watch based on the following criteria: (No Changes from previous sample set) % Change – Gapped at least 2% but not more than 10% Catalyst – Needs to have fundamental news of sort. Vol – >100,000 Float – High or Medium float (> 50 m) ATR - .50 to 2.00 Trading – Must be trading higher than normal volume Exchange – I prefer Nasdaq over NYSE Edge Criteria 5/15 Min Strategy: I have three parts to my trade plan: risk analysis, indicators, and confirmations Risk Analysis: 1:2 or Greater Indicators: Must meet 3 of 5 Trades within the ATR Small share size with high volume ORBO closes above VWAP/ORBD closes below VWAP No large wicks (wick cannot be larger than body) Close Should be close to the VWAP Confirmations: Must meet 2 of 2 Pullback towards VWAP in a “ꓥ” (long) or “V”(short) Direction Rejection of VWAP with Moving Averages in a favorable position Profit Taking Plan: This has been a work in progress. Whether it is holding on to long before taking profits than getting stopped out, to the other spectrum of taking profits too early and getting stopped out at breakeven, then the move happening in my direction. This sample set I am defining some clear levels before taking my first profits. Plan A – 1/3 out at low of the day, moving average (5,15 charts), or 1R, then all out at profit target Plan B – 1/3 out at low of the day, moving average (5,15 charts), or 1R, 75% at momentum failure, all out at the profit target or first out. Share Size: I am taking share size based on a fixed dollar amount. Thanks to KyleK29 & fjmocke for the hotkey setup. Daily Trading Goal: My daily trading goal is to trade only within my edge, stick to my profit taking plan, control my emotions, and be disciplined. If I meet these then it is a green day regardless of what my P/L says.
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1 pointSample Set 3&4 Review I didn’t do a review of sample set 3 because I did not change much for sample set 4. Over the last two sample sets I have been focusing primarily on defining what to look for in an entry. What I have found is that if the stock pulls back towards VWAP and rejects VWAP with the moving averages in a favorable position, a good entry point is the break of the moving averages along with a break of the previous 1-minute candle. This entry usually results in one of three things happening. 1) The stock will quickly pop opposite of VWAP and continue to run higher/lower. 2) The stock will quickly pop opposite of VWAP and bounce allowing an opportunity to take a quick partial before it pulls back and goes against me. 3) The stock will not break down immediately and will chop around VWAP before picking a direction. What this has allowed me to do, is make my losers significantly smaller than my winners as I get out of the trade if the stock does not go in my direction shortly after the entry. Of course, with any new strategy, this has not come without some issues. I have noticed that I have taken a few really early partials which have cut into my profits as I get stopped out at breakeven during a normal pull back, which is followed by the stock going in my direction. This is going to be my primary area of focus in my next sample set. Defining clear rules for taking a first partial. Overall, I am very confident in this entry setup, as I am getting good entries close to VWAP. I have been able to control my FOMO with the 5-minute Orbs, but this sample set I have had a harder time transitioning from looking for a 5-minute Orb entry to the 15-minute Orb setup. Looking forward to the month of July.
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1 pointLive trading summary of the month of June. So on Tuesday afternoon (6/25/19) I was thinking I wish the month ended today because I was up +7R with a score card of 87%, but it didn’t. I had three really bad days thus ending the month at +0.6R and score card of 84.5%. Though I shouldn’t be concentrating on my P/L, the previous four months (Feb-May) my end of month P/Ls have been in the range of +1.6R to -2.7R. Essentially, I have been flat for four months. But, just last Tuesday it was looking like a break out month for me being up +7R. But again I ended flat for the month. The two positive things I can say about the month of June is first I do feel like I have improved in my trading this month. Second, even though I have a win% this month of 42% I am green for the month (though barely). This does show that my winners are larger than my losers. I traded with Centerpoint for most of the month with mix results. The BBT deal limited me to too slow of a route so I had to drop that deal. Then there was one market open that you couldn’t short any stock. I will trade with them again in July and see how it goes. In June I reread (actually listened to) Daily Trading Coach. That was the third time I had listened to it. It seems to be a book you need to reread every few months. I am still reading The Playbook on Kindle and reading Market Mind Games on hard back. It takes a lot longer for me to read in that media. Stats for February/March/April/May/June: February March April May June Total # of trades 21 34 36 36 38 Hulk Days 0 0 0 0 0 Max Loss Days 0 0 0 0 0 Broke max trade rule 1 1 0 0 0 Hoy Key Mistakes 1 1 0 0 1 Score card 81% 81% 84.5% Goals for June: 1) Don’t go hulk. 2) Learn to control your emotions after a loss. 3) The trade score card average for the month should exceed the previous month. 4) Reduce risk per trade from $30 back to $25 until trade score card improves. 5) Keep improving health. 6) Follow the new 11 rules I specified in my June 28 weekly
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1 pointLive trading summary for week ending 6/28/19. Rough week. I took 10 trades this week with a poor score card average of 81%. Win% was the worse in over 5 months at 20%. Friday, after 7 losing trades in a row that week, almost turned into a hulk day. I was able to walk away just under my daily max loss. Monday was an OK day. Tuesday I was rejected trying to short FB at the open (what a short it would have been!) due to Centerpoint’s IT issues. Then all losing trades Wednesday through Friday. So now I know where my emotional capital limits are, so I need to set new rules to prevent me reaching it again. 1) Lower risk from $30 back to $25 2) Do not increase risk size on the last week of the month. 3) Do not hold to original S/O after first partial. Something I implemented last week (don’t move your S/O after only one partial) since back testing said I would profit from it. Failed me 3 times this week. So S/O will be moved from the original level after first partial. 4) Trade half share size the day after a double stop out day 5) Two double stop out days in a row go to SIM. So I will be on SIM on Monday. 6) 2 trade a day max again. The third trade per day under certain conditions was working for me. But I can’t trust myself now. Plus it feels like a punishment if I take this away. 7) No premarket trades. This was working for me, but again I don’t trust myself now. 8] After done trading live for the day, look for a SIM trade until 7am. 9) Absolutely no trades before preflight checklist signed off. I was sloppy about that this week. 10) Increase meditation 11) Watch the will-power reservoir. I have been trying to improve my discipline (will-power) in my nontrading life. But doing too much can drain the will power reservoir we all have. So mild will power exercises during the week and the heavy lifting one’s I will practice on Friday and Saturday only. Here is my plan for this week: Concentrate on process and score card, not on W% and P/L Follow the 11 new rules listed above Do not trade AAPL until better data is seen. Though last week was OK, AAPL maybe coming back into play at the open. FB had a marginal week. It should be secondary or even your third focus for this week. AMD was no longer in play for the 2min ORB. Do not focus on it at the open. MU is in play at the open, make it your primary focus for the week. NFLX is now in play at the open, especially for the 1min ORB. Careful the way it slides through VWAP. Give it 30-50 cents of room around VWAP before considering that it "broke" through VWAP. Try trading NFLX in SIM or low shares (with wide stop out) at first.
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1 pointA few thoughts... -- I've voiced my opinion to MANY traders on the notion that trading is NOT, and will never be, synonymous with the typical gist of a 40 hour work week. The more you trade, in my opinion (and based on THOUSANDS upon THOUSANDS of trades I've personally taken), the more you risk giving up profits. I wrote this to you in an earlier response, but MANY traders lose money (often times giving profits back), because they can't fight the urge to keep trading. They trade the "chop," when -- in fact -- they should be DONE trading by no later than 10:30am on MOST days... It's perfectly acceptable to watch the markets, go over old trades, scroll through charts, etc. for 80 hours per week (I sure did), but to actually trade for more than a couple of hours each day.....in my humble opinion....is asking for disaster... I wrote --- on my actual desk --- that I am ONLY allowed to take trades based on very specific timelines (1st is a premarket trade around 08:45, next is a trade within the 1st 15 minutes of the bell, and 3rd is the 09:45 reversal/pullback). Admittedly I often violate this "rule," but the fact that I've written this "rule," with a sharpie on the actual surface of my desk -- underneath where I place my hands when typing -- speaks to the reality that 90%+ of trading is psychology. -- you elude to the notion that trading is a 50/50 crap shoot. Though I respectfully disagree, I'll run with the 50/50 thing for a second. If a trader is ONLY 50% "accurate," and they are properly managing risk (ie, using a 2:1 reward/risk ratio) -- so long as all else remains relatively equal (price/position/etc...) -- then they are a profitable trader. Example: a trader takes only three trades..., but does so with a 2:1 reward/risk ratio. They risk $100 for the opportunity to make $200 on each trade. Trade 1: they're wrong, so they lose $100 Trade 2: they're wrong, so they lose another $100. Trade 3: they're correct, so they make $200. This trader was ONLY 33% "accurate," yet broke even. All else equal, they literally only have to be 34% "accurate" to become profitable with a 2:1 ratio. That is WORSE odds than flipping a coin, yet still profitable. What if this trader purposefully decides to be less "involved," and aims for only "perfect" set ups with "perfect" areas of support/resistance and stop/price targets at play (avoiding over-trading in the process)...? Let's say they shoot for a 5:1 ratio instead (which I get on MANY of my trades; especially swing trades). This trader only has to be "accurate" 20% of the time to break even.... I could go on for days, and give a thousand real life examples, but I don't want to beat a dead horse. My point is that trading is easier -- statistically -- to place odds on than is flipping a coin. So even if you're correct, and it is indeed a 50/50 gamble, my simply managing your risk -- you're a statistically profitable trader. Risk is a psychology issue....believe me.... Ive learned this lesson MANY times... I have more losses in the thousands of dollars than I'd like to admit. What I do now....after paying that "tuition" to the game (as I call it), is take a few days off when it happens... Sometimes the mind needs to reset....to rest... And EVERY time I do this -- I come back with proper risk-management, and see consistently profitable days... -- I have personally grown accounts with less than $1,000 in them by over 500% MULTIPLE times. I did a lot of this when I had a YouTube channel. Believe me -- it looks a lot easier than it is..., but so does hitting a golf ball. My point here is that just because it seems impossible to do, doesn't mean it is. All of us --- ALL OF US --- get to a point with trading where we question whether, or not, we can actually do this... I'm sure Tiger Woods questioned if he could make a come back, and he just won another major... I just watched a documentary on Barbara Corcoran, and she too had struggles in real estate... Ray Kroc was told his idea was moronic, Einstein was declared "retarded," and Michael Jordan couldn't make a basketball team... All of these people, at one point in their lives, were at a crossroads similar to yours.... Maybe trading isn't for you, but that doesn't mean it's not possible for anyone.. The mind is a powerful thing man....and trading is one of the toughest tests of will-power, perseverance, discipline, and intestinal fortitude anyone could ever subject it (the mind) to... Trading is OVER 90% psychology. The statistics do not lie.... This is one of the few opportunities in the world where you can be the "house," and take money from the gamblers... the hardest part is avoiding getting caught as the gambler... I know from experience... Anyways... I gotta run..., or I would try to expand a little more on other things you wrote. I'm not urging you to stick with its because it quite possibly isn't for you...., but believe me man --- it is possible to make money trading... Wish you well; stay humble; STAY GREEN!
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1 pointMaybe you can do a series of vids loosely based on your forum post "how I finally stopped losing...". I know that's been a big source of inspiration to many traders here that seem to follow the same trading journey. That post covered risk, psychology, trade management.. etc. I know that post was detailed (and thank you) - but maybe a vid will add some supplementation -- how you handled risk and profit targets for example. Just an idea... For what it's worth, I've been live for 9 months, but consistently losing $ . Finally, FINALLY i've taken the approach from you post. I started with $10/risk a trade and am now increasing risk slowly. My 'profits' are pathetic at this point, but at least my down trend equity curve is flattening.
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1 point27.Jun.19 - DASTrader - BT Small Green day. I have already decided to trade small today, at the Open my mouse was not responding properly too. So just one trade and done. Some days, I just need small green to change the Trend. Watchlist: I had $NVDA, $ROKU, $QD also $AMD and $MU. Later $WBA. Trade 1: $WBA. In the room Andrew called out $WBA during premarket, I liked the daily, so I included that too. Today I was specifically looking for 3C pullback ORB setup. Only $WBA was setting up for that. I took it at the break, volume was still not so great. I exited, no partial, it didn't move much. Found my wireless mouse not responding so I was done for the day. Also noted $CRON setting for the 3c pullback ORB on 5min. I didn't take it because the trade volume was less than 1M at that time. Good: Traded as per plan, small size. Stopped after realizing hardware is not working.
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1 pointYou just said it Lenny. The stock market has been repeating the same patterns over-and-over for a so many years, and these patterns are an expression of human nature, so they are effective because it is something of a self-fulfilling prophecy, as the most popular chart patterns are known by so many traders who look to trade these in the same way, it results in price moving in the desired direction.
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1 pointThursday 6/27/2019 I had a well-being score of 7/10 this morning. My nerves were OK. I took two live trades, one with FB and one with AMD. A double stop out day is not what I needed after my triple stop out day yesterday. But, that’s what I got. FB gapped up 1% and had OK premarket volume and an OK premarket action. I really liked this setup. A miniABC pattern from premarket with a nice 1min hammer (with strong volume) at the open. I waited for the price to break the high pf premarket (which coincides with the break of the 1min candle) and I went long. My target was the 190.75 level with my S/O at the low of the previous candle (also 50MA). I took a little bit light on the shares since that 190.02 daily level was still looming above my entry. I thought it was a clean break of the premarket high when I entered, but I guess it wasn’t (or the daily level at 190.02 was more powerful than I thought) as the price immediately reversed and I was stopped out less than 1 minute later. My second trade was with AMD. AMD open with two bearish 1min candles. I waited for the bounce from VWAP and went short. My target was the 200MA-5min and VWAP was my S/O. The 200MA-1min was in the way. But, it previously broke through it. The real question was if it will break of the LOTD. But, the R/R ~4 was too good to pass up. So I did take the trade, but at half share size. It never broke the low of the day and I was S/O just above VWAP as planned. My score card for today: What I did good today: I kept my risk management under control. I was stopped out twice but my P/L is only -1.3R. How did I challenge myself today? Traded with $30 risk/trade. What I did bad today: I didn’t check the strength of the levels during my premarket prep. I have been good about that lately. It would have told me to be suspect of the FB trade/entry. What can I do better tomorrow: Must complete my full premarket checklist. I was running a little late so I cut corners. If I can’t complete it I shouldn’t be trading.
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1 pointWednesday 6/26/2019 I had a well-being score of 7.5/10 this morning. My nerves were good. I took three live trades, two with FB and one with MU. I knew I was going to make a hot key mistake this week. And since I convinced myself of it so of course it happen. Three times, in the past few days, I mentioned on the BBT website or in private email that I like my DAS layout since I only made 2 hot key mistakes in 5 months. Luckily I recovered from today’s hot key error in about one second and it didn’t cost me anything. When I wanted to exit the trade I clicked the Sell ¼ button instead of the sell all. By luck the price popped up then I clicked the sell all button so no harm done. FB and MU were my two main focuses this morning. FB had a bullish 2min candle forming and I liked how it couldn’t break VWAP the three times it tried and I went long. Since it was an OK setup and not great I went with small share size when it cleanly broke the 200MA-1min. The 200MA-5min was my target and VWAP my S/O. The price did make it to my first partial, then struggled for 2 minutes and I got stopped out for a loss. My next trade was with MU which was forming an ABCD inside the 5min ORB. I waited for a bounce off the 36.67 daily level and went long full share size. Target was the 37.29 daily level with stop out at 36.59 daily level. I was able to make a first partial but 6 minutes later I was stopped out for a loss. Due to my new rules I am allowed to take a third trade in certain situations. Though today was only the second time I have used that rule. My final trade was with FB. The price was holding the 200MA-1min for several minutes and I went long (small shares) when it bounced again. Target was 200MA-5min though I was hoping for HOTD with VWAP with my stop at VWAP. Though it had held the 200MA for several minutes, the moment I took the trade the price instantly reversed and immediately broke down through the 200MA and quickly broke through VWAP where I was stopped out. My score card for today: What I did good today: I kept my risk management under control. I was stopped out 3 times but my P/L is only -1.5R. How did I challenge myself today? Traded with $30 risk/trade and took smaller partials. What I did bad today: Both FB setups were B- setups. They weren’t bad, but that doesn’t mean I need to take them. What can I do better tomorrow: This is my first triple stop out in 5 months. I feel OK now, but I am thinking I should go half shares tomorrow or until I get my confidence back.
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1 pointHi!! Just came back from our night, Just want to say a big thank you all! for coming! I hope you enjoyed your night as I did! Really nice to see we have a strong Mtl area community at BBT and I hope you were able to network and exchange numbers/contacts! Don't forget there's the Mtl Club if you want more events like these or breakfast with smaller groups, any ideas are welcome!! Thanks to all the admin who were there, @PeterD, @Norm, @WilliamH, really enjoyed our discussions. Special thanks to @Andrew Aziz who came even if he had a full set of plane issues. On a personnal note, I can attest that it's the first time that I'm part of a group where I get to meet the people talking to us on a daily basis (admins) and meet other traders in the chat, it shows the seriousness the entire community. Have a great summit tomorrow, Thanks again, Karl
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1 pointAdd display audio and display capture: File > Settings > Output / audio / video Mic Filters
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1 pointTo get a good audio level in OBS for your recaps, you can config OBS as follows (I´m using a cheap mic, noting fancy so if you have better hardware may be this config won´t be necessary): 1. In the mixer window of OBS, set MIC level to max: Click gear below MIC and click on FILTERS: Click + in the lower part of the window, add GAIN and set level to max (30) These adjustements in OBS deliver a nice audio level in recording. This video shows more filters you can add to your config in OBS
