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Showing content with the highest reputation on 07/06/2019 in all areas

  1. 2 points
    Friday 7/05/2019 I had a well-being score of 6/10 this morning. My nerves were not good. Still on SIM only. About 5 minutes before the open my daughter seemed to be yelling in distress. It sounded serious enough that I left my platform to have a look. Yep it was bug. She has quite a strong phobia about them. I told her my hopes of having an insect biologist in the family is fading fast, which she responded by jumping into my arms in fear. It was interesting that I did pause before killing the bug. I am finding it harder and harder to kill insects since I have been reading more books on Buddhism. Then my daughter asked to be put down. So I said to her, ”OK, you are short and poor.” She definitely did not find it as funny as me and yelled, “no, I mean on the ground!” As usual time flies fast when spending time with her, so when I headed back to my platform the market already open. I panicked to see NFLX setup just as I expected and was moving by my planned entry point. So I immediately took the trade. I shouldn’t have. I was not mentally ready, I didn’t even have a chance to turn on my screen recorder yet. So I managed the trade poorly. I should have just taken a breather and let the trade go by. I took 3 SIM trades today. One with NFLX, one with MU, and one with FB. NFLX had a really strong premarket low level that it tested over and over for 45 minutes. So my scenario was, if NFLX dropped at the open and bounced off the 377.82 daily level I would go long when it broke the 378.25 strong premarket level. Though there are some levels above it, if it broke the 379.50 level it may run since the levels above it are sparse. As I discussed above I was late to my platform and took the trade a little late and was not mentally prepared. I did take two partials at the two levels (daily level and 200MA), though both were close to my entry. Then the lack of mental preparedness kicked in and decided to add to my position when it retraced to VWAP. But, I didn’t check the ask so I added based on price. There was no retrace it was just a fluctuation inside the spread. So I added at the same price as my partial. NFLX never broke the 200MA and retraced. When the BID touched my B/E I exited. Too bad about trying to add. I made a small winner into a loser. I saw MU setting up really well, but at the time I wanted to enter I was still in my NFLX trade. I have an one trade at a time rule and also a rule of not closing a trade to start another one. So I missed the entrance when MU was forming a bullish 2min hammer and crossed VWAP, the 50MA and a daily level all at approximately the same time. After I was out of NFLX I did see MU pull back to the 31.18 level and I went long. My target was the high of premarket but honestly my S/O was ill-defined. But I was planning on stopping out a few cents below the bottom of the wick of the current candle. Though my partials were at levels (HOTD and high of premarket), they were still taken more from nerves. Then I stopped out just before I hit B/E. If I waited for B/E I would have reached my target. Nerves and sloppiness. My last trade of the day was with FB. Honestly, I wanted to stop after my second trade. I was positive for the day and still had not recovered from being late to the open. But, the setup on FB looked too good to ignore. My win% on 5min ORBs have been bad. The main reason is I take the trade when one of the time frames look good and the other one adequate. But, I don’t wait for a trade that both 1min and 5min time frames look good. But that is what I had on FB this morning. If I look at either time frame it looks like a good trade. The 1min showed weakness, then a pull back, then indecision and the downward movement again. The 5min chart has shown weakness for the last hour and the 5min candle was bearish and not extended. So I shorted on the break of the 5min candle body. My target was the 195 level with stop out at the high of the previous candle. My nerves really showed by taking a ton of partials. I exited when it looked like it may reverse. What I did good today: Best trading day in the last 7. Also, an extremely good day for a Friday. How did I challenge myself today? Was late to the open, which caused a lot of nervousness, but still traded adequately enough to be green. What I did bad today: Traded sloppy. What can I do better tomorrow: Unsure yet if I will be on SIM on Monday. I traded sloppy this week, but that was the original reason why I went live several months ago. I always traded sloppy on SIM. So do I stay on SIM until the sloppiness goes away or go back to live before the sloppy bad habits are formed. I will have to review my trades and decide this weekend.
  2. 1 point
    I am asked a lot how to buy and send an automatic STOP Loss order all in one hotkey. Try this: ROUTE=SMRTL;Share=BP*0.25;TIF=DAY+;Price=ASK+0.10;BUY=Send;ROUTE=STOP;StopType=Market;StopPrice=AvgCost-0.30;Share=Pos;TIF=DAY+;SELL=Send; What it does? It buys at 25% of your buying power, and then automatically send a stop loss order at AvgCost -30 cent. You can change it anyway you want!
  3. 1 point
    Week 27 Recap Slow week to write a recap on. Only took two trades and both weren’t very good. · Weekly stats o 3.1 planned R/R (Goal: above 3.0) [Previous Week: 2.7] o 7/8 88% (Goal: above 80%) [Previous Week: 97%] o -$24.81 (Goal: $150) [Previous Week: -$17.08] o 0/2 0% trades with the trend (Goal: 100%) [Previous Week: 56%] o ½ 50% Non-optimal Entries (Goal: 0%) [Previous Week: 22%] o 0/2 0% Letting Losers Run (Goal: 0%) [Previous Week: 0%] o ½ 0% No Setup (Goal: 0%) [Previous Week: 11%] o 0/2 0% true win percentage (Goal 45%) [Previous Week: 33%] · Highlights o Didn’t FOMO and take bad trades on Wednesday or Friday. · Ongoing things to work on o It’s crucial that I work on getting my win percentage to at least 45%. that would really help with my weekly P&L. o Need to wait for 2min then 5min breaks for confirmation the trade is working. The MU trade never broke to a new 2min low and the GBX trade was too late after the 2min break and the 5min break. o Pay more attention to volume.
  4. 1 point
  5. 1 point
    July 3&5, 2019 - No Trade Challenge Traded sim on Wednesday for the purposes of seeing how my emotions were after pressing the enter hotkey. To my surprise, the same thoughts were occurring when I entered a sim trade. Obviously, the level of emotion was far less, but the same thought process that was occurring immediately after I entered the trade. I noticed it was not the $ risk per trade that is bothering me; rather, upon entry my first thought is about being wrong, so when the natural pullback occurs it re-enforces my thought process of being wrong and increases my anxiety level. I spent some time on Wednesday and Thursday pondering how I am going to tackle this, but still did not come up with a solid plan, so when no stocks met my pre-market criteria on Friday, I choose to take the No Trade Challenge with William H. I saw a couple of good entry points on $KTPI and $AMD, but I just sat back and watched. Interestingly, when I identified these entry points and it crossed the moving average that would have triggered an entry, I had the same thoughts cross my mind. Overall the last three days have been quite productive in the psychology realm. Going to go hit the running route now and ponder how to tackle this demon. Looking forward to Monday and getting back into the swing of things. Sample Set Results, P E E E P E P 8 9 10 11 12 13 14 15 16 17 18 19 20
  6. 1 point
    Wednesday 7/03/2019 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 AMD and two with NFLX. Still a bit sloppy and FOMO issues even on SIM. NFLX gave no signs in the premarket what it would do. Plenty of volume in the first 20 seconds after open then was dry. NFLX gave a very bullish 2 minute candle but I didn’t feel comfortable taking the trade then. The price went up almost a dollar without any green showing up in the price and sales. I am so not use to that. The price retraced back to VWAP then moved back up and finally green hit the tape. I went long on the break of the 377.04 daily level. My target was 379.25 with VWAP as my stop. After trading NFLX for a few days that may be unreasonable and shouldn’t expect to go past my first partial target of 377.87. Still need to learn. Price made it to my first partial near the 377.87 but I forgot that I have to sell at the bid not the price. I forgot and sold a partial when the price reached my 1st target. The bid was far below it and I essentially sold my shares at B/E. I waited until the bid hit my target and I partialed. Then when I took a second partial I forgot that NFLX should be more of a scalp and I partialed light. The price reversed and I got out at B/E. So with the two trade management mistakes it was only a small win. What it looked like when I took the trade: The total trade: The next trade was with AMD. AMD was an unusual setup that I have never taken before. It was essentially a V-reversal 5min after the open. But I do see AMD bounce back to VWAP often when it’s extended. AMD fell 35 cents in 3 minutes then paused. What caught my attention was a 72k bid on L2 3 cents below the price. It quickly disappeared and in return several asks totaling around 30k about 5 cents above the price. I had also noticed that SPY was climbing. I went long on the 1min high with the PDC as my target and the LOTD as my stop out. I took my first partial at the 9MA and my second at VWAP. I lost faith in the trade about 2 minutes later and exited. The charts when I entered the trade: The total trade: My last trade was with NFLX again and sadly was a FOMO trade. The really nice setup occurred on NFLX while I was trading AMD and thus missed it. It bounced off of the VWAP 3 times. I usually take the third bounce to enter the trade. Instead I took the trade at the break of the 377.87 daily level. The true R/R is only 1.3, but I chose an incorrect S/O of the bottom of the candle so I could have an R/R~2. But that was not the correct stop. If I used VWAP as the S/O I would have had a winner. The trade entrance should have been 3 minutes earlier or should not have entered. Though I did get a small partial, the trade was a loser as my S/O was too tight. What it looked like when I entered the trade: What I did good today: Finally green. First time in a week. How did I challenge myself today? Watched time/sales more. Something I wanted to practice while in SIM. What I did bad today: Traded sloppy. What can I do better tomorrow: Need to keep discipline on the SIM. If I keep trading like this I will be on SIM all next week as well.
  7. 1 point
    Interactive Brokers has a new interface for their forum. You can ask any IB related questions (but please, if you have some awesome information to share, or get an answer to a relevant question, please post it back here to our forum in a new topic!) https://ndcdyn.interactivebrokers.com/forum ----------------------------------------------------- Doug T. Austin, TX If you found this post helpful, please click the "favorite" link on the lower right, and pick the trophy from the emoticon list! Much appreciated.
  8. 1 point
    Great post, Jason. Thank you for taking the time to share with us.
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