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Showing content with the highest reputation on 07/24/2019 in Posts
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2 pointsWednesday July 24th, 2019 Sleep: 7 hours. Mood: good, ready to trade. I have time to focus on the market at the open. Only trade today was an ABCD in SNAP. i missed the ORBs out of fear. i've been getting stopped out often on ORBs the last couple of weeks so i wasn't ready to jump in on this ORBU but it would have been a good one. instead i waited for the pullback and traded this as an ABCD with an entry on a new 2min high after a doji. my stop loss was a new 2min/5min/5min low. I had to leave my desk to travel for the day so i set my 3R range order. got within 2 cents of my profit target at around noon GOOD: good entry RFI: could have waited and got more shares. profit target was a bit far MOOD: good, I didn't have a choice but to hold on but i'm glad my order got filled. i was going to pull over and get out of the trade at 3:50 if neither my PT or stop loss was hit. CONSISTENT: yes, exactly as planned.
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1 pointWe have a new scanner layout for our chatroom that includes two new scans. Kurt has tested and has been successfully using as indicators for possible trades. If you missed the video explanation live in the chatroom, here is the recording! If you want to get Trade Ideas we’ve negotiated a discount, so you can get their scan software for 15% off. Just click the button below and use “VANCOUVER15” at the checkout. http://trade-ideas.com/referral.html?p=vantrading&w=download Scanners Kurt.mp4 Scanners Kurt.mp4
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1 pointPer the YouTube video here, we will be posting one infographic each day. #1 - July 9, 2019 #2 - July 10, 2019 #3 - July 11, 2019 #4 - July 12, 2019 #5 - July 13, 2019 #6 - July 14, 2019 #7 - July 15, 2019 Poster (Download Full Size Here)
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1 pointI just started the Van Tharp Institute Peak Performance Course for traders (home study edition). I really need to improve issues with my trading (fear, self-sabotage, over-trading, etc.). I think this course could really help. To place some accountability on myself to finish the course I plan to post my reading notes and assignments online. Hopefully, the info provided will help others as well. Van Tharp Institute Peak Performance Course Vol 1: How to use Risk Preface: The three stages of growth for a trader. 1) They think they can make easy money from trading. They think the most important thing to investing/trading is picking the right stock. 2) A substantial change has to occur where the trader begins to asks, “how should I trade to make money.” Thus, they start looking for a trading system that fits them. 3) The trader realizes that trading success does not come from external control, but from internal control. Controlling risk, profit/loss>1 and position sizing all comes from internal control. Chapter 1 Commitment means congruency. It means the whole person is working together for a common purpose. No internal conflicts. When committed, trading is no longer just a hobby. The moment one definitely commits one’s self, then Providence moves too. I translate that as: when you are committed to work hard, luck will be on your side. To develop commitment first you must determine your obstacles. Second, and more difficult, you need to determine how those obstacles reflect what is going on within you. The last step is deal with them. Make peace with the obstacles by making them unimportant. Below I created my personal obstacle table: Obstacle Internal reflection Make them unimportant Fear 1) Fear of being wrong 2) Fear of missing my stop 3) Fear the loss will affect my trading and mood. 4) Fear the little success I’ve had is due to an accommodating market. Once the market changes I will fail and quit. 1) Your supposed to be wrong at least 50% of the time. If you are wrong less than 50% you are scalping too much. 2) You are working the mental muscle, it will get easier. I do have risk controls, if I miss my stop I can’t lose too much. 3) If you learn something from the trade, it was still worth while taking it. 4) Have faith in yourself that you will learn and adapt. Self sabotage 1) Every streak of good trading is ended with catastrophic failure. 2) I take way too many partials hurting my win/loss ratio. 1) You will wind down your streaks with smaller share size and SIM trading. So it will end with a whimper not a roar. 2) With more trades, more data will be available for analysis to determine proper partialing. Data is stronger than my nerves. The math will prevail. Over trading 1) If you only take one trade the whole day, but it had a poor setup, you already overtraded. 1) I am having slow progress, but I do see progress. My trades are slowly getting better. I have the time to learn. I am in no hurry. As long as I have progress there is no issue. Health 1) Not enough sleep and exercise 1) My family is slowly becoming more accommodating. It is taking time but they will come through for me. In the last 6 months my average sleep has increased from 4.8 hrs to 5.7 hours a night. Still a far cry from 8 hours but again as long as there is improvement.
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1 point24.Jul.19 Green Day. 2R Profit. Watchlist: $AMD, $MU, $SNAP, $TXN, $CAT, $AMRN. Later I also included $ROKU, $IRBT, $TER. I traded a lot today, including $FB after earnings. Trade 1&2: $FB. Took short at 200MA on 1min, stock was too strong and stopped me out. One of the failed MA bounce setups. This is fine. After 1min crossed 200MA and created a hammer, took it long just one partial near PCL. Trade 3: $IRBT. Fallen Angel setup, but Poor entry. stock was very volatile and didn't get my move immediately, so got out for a small profit. Trade 4: $SGEN. Long above 200MA (1min) and 50MA (5min). Had 1.5R didn't take it as the target was $72, missed by 3c. Got stopped out. Trade 5: $TER. I was done for the day. not planning to take a Live trade. so just watching $TER, and noted MA cross reversal on 1min. Price bounced off the inside of 50MA (very good indication for good setup). Took it short on SIM, realized it was Live. But the setup was valid so traded this. This was a very good trade. Trade 6: $CAT. Took VWAP bounce for Long, got stopped out. Then went Short twice before getting stopped out. 3 losing trades on not so great setups (C- setups). Good: I was able to try out different trading setups, including post earning $FB. Still only trading with small share size, within my risk. $TER was my best trade of the day, although it happened by mistake (thought I was in SIM). Improvement: Overtraded $CAT. It was not a great setup, still went back trading 3 times. Biased on $CAT, that had an impact. Partials need improvement, as I am missing 1.5R moves and getting stopped out. There were some great moves today, I just didn't catch one.
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1 pointWednesday 7/24/2019 I had a well-being score of 6.5/10 this morning. My nerves were fine. I was looking forward to the opening bell. Wow, I wish I knew why. I seem to have little understanding of my nerves. I would like to mention that I just started taking the home study version of the Van Tharp Institute Peak Performance Course for Traders. I really need to improve issues with my trading (fear, self-sabotage, over-trading, etc.). I think this course could really help. To place some accountability on myself to finish the course I plan to post my reading notes and assignments online. Hopefully, the info provided may help others as well. See link: I took one live trade with AAPL. Then three SIM trades: FB and NVDA. I was focusing on FB and AAPL at the open. FB was in play so I replaced MU to watch it at the open. I created my opening scenarios again. The long scenario for AAPL was identical to yesterday, where I got stopped out. But, the plan was to go long if it broke 200MA-1min, 50MA-1min, VWAP and finally the high of premarket on volume. It did just that, but on just enough volume to call it in play (300K). But, I was concerned due to my stop out yesterday. Then it dropped twice to test the high of premarket and bounced both times. So I felt better about it and went long. Target was PDC with S/O at the 200MA-1min. R/R~2. The price did make it to my target but didn’t move much after going red to green. I exited the last of my position when it went back green to red. What the chart looked like when I took the trade: The complete trade: I then took 3 SIM trades. One big loss, one small win and one solid win. The big loss was due to not treating the SIM trade as real. I got a bad fill and thus my share size and R/R were now wrong. So I needed to exit trade immediately. Instead, since it was SIM, I stayed in for a -1.8R loss. My solid win would have been a big win, but I decided to experiment with adding to my position. This seems not to work for me, so I thought I would try it in SIM. SIM confirmed it. I had a big winner, then I added to my position and the price instantly reversed hard and I lost almost half of my profit. Score card for my live trade. What I did good today: Created viable scenarios to follow at the open. Waited for a confirmation that it was not going to reverse back through the entry level. How did I challenge myself today? Took the same trade as yesterday even though I got burned with that setup yesterday. What I did bad today: The usual. Partialing could be better. What can I do better: Need to wait for the target for the 4th partial. Not really pushing myself that hard. This is an incremental improvement it shouldn’t be that hard.
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1 point24/7/19 mad weather in the uk last night, lightning storm and the heat kept me up so feeling a bit rough today. Im off to a festival tomorrow and feeling keen to have a good day before my break. fingers crossed. Trade 1: 5 min orb on MU, wasn't ready yet. Trade 2: a lot of buying pressure on the 5 min and increasing volume on the 1 so went long but stopped out early and missed out on the move Trade 3: kinda chased this move at first so got out as i was extended from VWAP. got back in after it bounced from VWAP for a quick scalp. Trade 4: ABCD on MU but it went below where i thought the support was, only to do the final leg just after i got out annoyingly. Trade 5: thought this was at a bottom of a pullback, so tried to ride it to the top but turned out to be a reversal. Crappy day again. not sure what i need to work on but ill give it a proper think after my break.
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1 pointJuly 22, 2019 - Did not Trade I had some issues last night as I forgot to bring my chargers for my laptop and USB adapter for the screens.I spent a good hour trying to figure a solution out for the morning trading session. This resulted in getting about 4 hours of sleep. Therefore, I decided to have a real tight trading plan for the day. I was only going to trade A+ setups and made the decision I would not vary away from this as my performance on days with little sleep do not turn out well. I stuck with the trading plan and did not make any changes, although $KO was a great trade, it just did not meet my entry or risk:reward plan. Oh well, tomorrow is another a day. I have decided that the month of July has been a real test to my commitment. If something could go wrong, it has. Rear-ended at a stop light, forgetting chargers, not being able to exit a trade, not being able to enter a trade, trip to the ER, and another surgery next week. Couple this with working a profit taking plan. It been challenge after challenge this month. Can't wait till August. lol. Sample Set Results, S 12 13 14 15 16 17 18 19 20
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1 pointHi Vikram, Thank you for the advice. I think i'll try not worrying about P&L for the week starting August 1st. and see how it plays out. I don't look at my P&L during the trading day but i'm so used to thinking in "R"s and using a fixed dollar amount for risk, i know all the time pretty much spot on what my P&L is.
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1 pointI don't specifically have this problem, (but lot of other issues ) or the solution to this problem. But, do you have weekly targets, as you are trying to stay green for the week? If so, is it possible for you to have a monthly target, instead of weekly. That way, you don't have to stress out everyweek, but only once in a month. Since it will happen less often on a monthly basis, it may go away after a while. my 2 cents. I have heard people saying hide your P&L. Personally, I don't know how much that helps. I look at my P&L all the time. In fact, when I am in a bad trade and if I don't respect my stoploss, Looking at the P&L makes me stop out immediately as it is going from negative to Big negative. Also, Once I know I have achieved my P&L then I cut my share size. It's much more peaceful. I guess it's down to personality. You may try this option of hiding P&L too if it works out for you. Stay Green!
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1 pointTuesday 7/23/2019 I had a well-being score of 6/10 this morning. My nerves were not good. I am worried I am going to give my profits back for the month and have another flat month. I took two live trade with AAPL. Then two SIM trades: ROKU and MU. I was focusing on MU and AAPL at the open again. As usual I created my mental scenarios what I would do depending on possible setups. Neither stock I had any bias this morning so I had the usual 4 scenarios in my head. One scenario was AAPL to pop up, on high volume, and go long when it breaks the high of premarket. After the open the price did pop and had to make a couple attempts to break the premarket high (which I like, it shows it’s a real level). It did make a clean break, so I went long. My stop was the 208.43 daily level and my target was the 209.43 daily level. R/R~2. But the price reversed almost immediately and I was topped out. Now the trade looks like the short scenario I had. I have difficulty flipping positions, but since the setup looked just like the scenario in my head I didn’t find it too difficult and went short when it broke a premarket level 208.30. But I went small share size. Not sure why. I didn’t have time to think it out much so I gave it a large stop. My stop was supposedly the 50MA-1min, so in theory I was half share size. My target was the PDC. I got a little confused, not use to flipping positions, which was my last stop and my new entry, so I took my first partial well too early. My second partial was about where my first one should have been. The 1st 3 partials were small. I only got 50 cents out of AAPL on this trade which isn’t very good. When I was finished live trading I took a look at my P/L and was surprised it was negative. Then I remembered the winning trade was half share size. What the chart looked like when I took the trade: First trade Second trade The complete trade: Score card for my live trade. AAPL AAPL 86% 85% As for my SIM trades, they were both 10min ORBs. ROKU I was immediately stopped out and MU I had a nice winner. So I was green for my SIM trades today. What I did good today: Created viable scenarios to follow at the open. How did I challenge myself today? Flipped a position. What I did bad today: I am not happy about the small share size I took on the second trade. What can I do better: I need to start thinking about the possible flip trade before I exit the first trade.
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1 pointCarlos Could we go over .......IN DETAIL, IN DETAIL, the EXCEL hotkey spread sheet produced by Kyle, version 1.46 was the last one I think. It is potentially very powerful for members but I think we, members need to understand the DETAILS to really appreciate the power behind this tool. A workshop would be ideal so different members can be walked through one or two of the individuals hotkey needed and build it infront of us. Members should come prepared with a list of hotkeys they want scripted. That would be progress. Remember I say DETAIL not skim the surface, detail builds confidence in manipulating HotKeys. AM