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Showing content with the highest reputation on 07/31/2019 in all areas

  1. 2 points
    30.Jul.19 small Red day. -1R. Overall I had some good trades and more ordinary trades today. My ordinary trades/commissions are eating up my profit from good trades. Also, I may be looking for more RR on some setups, where I am not taking upto 2R profits to get stopped out for -R. I have some preparations to do before starting Aug month Trading. Watchlist: $FB, $MU, $PG, $PFE and $UAA. I was watching $FB at the open. $FB was below 20MA on daily, and Harmonious on all timeframes, i thought it would close the cap to 50MA. This may happen tomorrow. Trade 1: $AAPL. Strong at the open, but the price bounced off VWAP and open higher and went to HOD. This is not my setup, and I traded the price action here. In terms of Poker card ranking, this would be just a PAIR, which doesn't win many games. And so, I got stopped out. Trade 2: $AAPL. Immediately I saw the 200MA on 5min and 50MA on 15min acting strong resistence, I took Short. Now this is one of my setups MA bounce reversal with Double shooting star on 1min. I took one partial early (Trade1 messing up my mind) and then at the 200MA on1min. Trades 3&4: $AAPL. I took 2 more trades on that at Breakeven under ordinary setups. Trade 5: $FB. I was short biased on $FB from the daily. So when the price reached 200MA(5min)/PCL/Y low, I took it short, realized it was too strong and got out. Should have waited for confirmation. Another ordinary setup. A PAIR. Trade 6: $MU. $MU formed triple top on 1min, missed entry, But when the price pulled up to VWAP and formed a shooting star (alike), I took it short. Missed 2R move and got out at BE with 50% sharesize. Setup was good. VWAP pullback Short. Trade 7: $OSTK. Another ordinary setup, was looking for fallen angel setup on $OSTK, it kind of formed one, Took long, stopped out. Another long, realized this was ordinary setup and got out at BE. A PAIR. Trade 8: $TWTR. ABCD pattern. Long after ABCD pattern, got stopped out to the penny. Took it long again, Price moved to 2R, but got stopped out at BE. Was hoping to get the move to $42. Good: Traded 3 good setups. Improvement: Few very ordinary setups, eating up profit from good setups. Good setup partials need to improve, I either don't take it or take it quickly. Missed 2R move on $MU and $TWTR. Had I taken it I would have closed the day at daily goal.
  2. 2 points
    30/7/19 not feeling too fresh today but had a while off and need to get back into it before i lose the motivation.. Trade 1: went for an ORB on PG on a pullback. it dropped suddenly and i got out, then in and then out again. too volatile and took too large a share size to let it drop to VWAP. Trade 3: went short once it was about to engulf the first 5 min candle. took some profit then stopped out at break even. Trade 4: went long on a break of VWAP with volume but got stopped out on a pullback and then back in above VWAP for a nice trade. I started to notice how im not patient with entries and usually always take more than one try so thought to try harder to wait for pullbacks. Trade 6: Saw MU falling and was currently on an upwards pullback sitting at VWAP so went short. i was 1 penny away from my first partial but annoyingly it never came back and i stopped out. Trade 7: dont really know what I was thinking here tbh. trying to chase on the first one then couldnt tell ya. Trade 9: PFE making lower highs and lows on the 1 min. Got a very nice entry and rode it until it couldn't make a new high, very nice trade. Trade 10: PG rejected VWAP twice so went long and waited for my partials. again nice trade. Trade 11: SSNC had been on a big rise and was consolidating so went long with a tight stop below the support at 49.8 and it just took off so i partialled fast for a scalp. A good day for me in the end after a really bad loss at the start so im happy, and first green day in a while but feel like I was making better choices today. gotta try to keep it up.
  3. 1 point
    7-31-19 Late night at work did not rest good. Up @ 7:40 SSS & coffee, pretty tired and I also ate like crap last night 9:41 +ENPH 27.75 I entered late against my judgement listening to chat. I should have been in it for the ORB @ 9:33 for 26.94. Then after it continued to a path I wanted again I hesitated again *chat*. my s/27.25 and tgt/28.50 BAD R/R, Partial out at 25% each time till just above BE. This should have been my first one and done day if I listened to my instinct and judgement. 11:18 +MU 45.95 on reversal and I was late to the party (should have pulled the trigger at 45.87) s/45.84 2 day ago low t/46.23 VWAP. It was only a pull back and instead of getting all out at 46.00 I only went out for 50% and got stopped at 45.81 Even though I am Green and pretty dang close to my goal of the day I feel like I made bad trades by not pulling the trigger when I thought I should on entries and exits.
  4. 1 point
    31/7/19 still feeling run down. at my aunts at the moment brought all my computer stuff with me so i can still trade, kinda nice to be in a change of scenery okay change of scenery not good, made a load of mistakes today and my DAS is being really weird, one not sending orders straight away and 2 not cancelling orders at all... very annoying so im stopping. Trade 1: 5 min ORB ENPH, got a good entry but chickened out when i thought it wasn't going anywhere. Trade 2: realised it was moving so got straight back in for some profit and the stopped out at brake even. Trade 3: AMD was really weak and saw a high wick touching VWAP so went short expecting a reversal. took profit along the way but for my last one made a hotkey mistake and added more. Trade 4: after i was out i thought a double bottom was forming on the 1 min so went long with a stop below the support but got stopped out. Trade 5: me getting chopped up by apple at VWAP lol Trade 6: Tried for the reversal again, never really know where to set my stop for these kinds of trades so i just tend to keep it tight then get back in which i did here. My first partial was another hotkey mistake but apart from that it was a decent trade. Trade 7: AMD rejected VWAP 3 times so I went short, taking one partial then stopping out when it started to look really strong. Trade 8, 9: after AMD finally broke above VWAP i thought it would carry on but got stopped out twice. It did do what i thought it would 5 mins later but wasnt paying attention. Quite a frustrating day with some okay trades and some not so good but a lot of mistakes on my part, need to pay more attention to where my fingers are on the keyboard...
  5. 1 point
  6. 1 point
    July 31, 2019 AM Out-of-town visitors for the next 10 days so it will be hard to trade. I have not been screening for new opportunities. Still in 2 trades - NVDA and SBUX. NVDA - was green EOD yesterday, went lower at the open but moved up. Made me pretty nervous. I felt like I wanted to move my stop, but I have to just let it do its job which is to protect my account! If I had been actively watching all day, I could have taken some profit and moved my stop up to my entry price. Need to learn how to partial out. SBUX -- realized that I made a mistake in my calculation and my trade only has a 1:1 RR. Moved my stop up to 96.25 for 2:1. This is just a little above low of day.
  7. 1 point
    July 30, 2019 - $PFE x 2 (Stopped, Partial) A much better day today after revising how I am taking partials. The first trade I got stopped out on $PFE after the rejection of VWAP, break of the previous candle and the quick pop back above VWAP. Second trade, I started looking at $AMD and $UAA, but either of those stocks had any good setups. I looked back at $PFE and I could tell the stock just did not have the buying power to stay above VWAP. I entered again when it lost VWAP and broke the 15 min candle to the downside. I made a mistake on the placement of stop loss as I had it too high, so my 1R was quite large. I was able to execute my profit taking plan and took a partial at 1R and got stopped out at break even. The only thing I would have changed here is that I would have taken a larger partial due to my large risk and the smaller ATR of $PFE. Other than that it was a good day. Sample Set Results, S E P S P 16 17 18 19 20
  8. 1 point
    7-30-19 Woke at 7:30 SSS & Coffee / rested good Plenty time to research and get ready for the morning 9:36 -PFE 39.71 ORB stopped out 39.60 9:40 -AMD 33.27 ORB stop of 33.33 tgt of 33.09 50% 33.18, 33.10 all out 33.19 9:53 +PFE 39.27 reversal on Doji as it tested a daily I had marked, stop 39.20 prev. candle, tgt 39.56 VWAP. Added +39.32, 25% partials 39.35, 39.45, 39.55, 39.59, all out 39.52 10:15 +MU reversal on hammer at a daily level, stop 46.70 last bear candle, tgt 46.86 VWAP to 47.10 two day low, 25% 46.82, 46.85, 46.87, 46.88, 46.94, 47.07, all out 47.00 11:00 +MRK 83.49 Late on the trigger reversal, s/83.39 prev candle t/ 83.69 MA, 25% 83.60, 83.73, 83.58, all out 83.53 13.02 +MRK 83.25 reversal fail, 50% 83.31 all out 83.24 13:50 +PFE 38.90 reversal, s/ 38.96 tgt/ 38.96-39.09, 25% 38.96, 38.98, added @ 39.04 all out 39.01
  9. 1 point
    Tuesday July 30th, 2019 Sleep: 7 hours. Mood: good, ready to trade. first trade was an ORBU in$MU. felt good about the trade. my stop loss was far away so i was a little concerned about making it to the HOPM but with a lot of MA support under i felt confident. it sold off the first couple of minutes then bought up to break the HOTD where i got in long risking right below the LOPM. it went in my favor so i set my range order and left to do other things and by the time i got back it had dumped. thought about getting out but spent the entire time second guessing myself until my range order hit. lost a little extra on slippage. GOOD: setup was good, entry was pretty good as well. RFI: could have got out much earlier MOOD: ok not happy about it RFI: get out when the trade clearly isn't working i took $MU again. i was long biased because of the daily chart but i was seeing it below the MAs on all charts but the daily so i went against my bias and short on a pullback. it went in my favor but bought back up. again, i held on when i shouldn't have and got stopped out. GOOD: trade made sense, better entry than the first RFI: should have got out when it broke the LOTD and then made a new 5min high MOOD: frustrated on two stop outs CONSISTENT: followed the plan but i could have cut these short. What i did good today: didn't have any losses greater than planned. What i did bad today: Hesitation on trades that were clearly not working What can i do better tomorrow: Practice getting out of trades that aren't working.
  10. 1 point
    July 29, 2019 - Nothing I am just ready for July to be over with. I did not take any trades today as nothing met my entry criteria. I had $MYL, $PFE, $YNDX, and $AMD all on watch. $MYL and $PFE pullbacked back towards VWAP but both lost it and did not reject it. $AMD and $YNDX started a pullback but did not get close enough to provide a good risk to reward entry for me. The best part all four stock worked out as long as you took them short. Maybe today was just one of those days. Anyways, tomorrow's another day. I can't wait for August to get here. Sample Set Results, S E P 14 15 16 17 18 19 20
  11. 1 point
    Van Tharp Institute Peak Performance Course for Traders Vol 1: How to use Risk Chapter 3 The most important trait that a winning trader can have? Personal responsibility. Ed Sakota in Market Wizards said, ”people get exactly want they want out of the markets.” This chapter has two stories describing the above statement. One who got rich and lost it in the dot-com bubble and who still blames everyone else. The other example is the author who got into a car accident. A witness would clearly see it was the other driver’s fault. But was it? The author hated the car he drove and was actually receptive to have the car destroyed. He was shocked to realize that yes he was likely also at fault for the accident. Then it became clear how one totally creates their world. Personal responsibility is the most important characteristic for the person who wanted to transform himself or herself into a good trader or anything else for that matter. If you believe in personal responsibility, you could change. The author plays a marbles game with his traders “in training”. The marbles are randomly picked and are labeled as winners and losers of different degree. It is designed to give the player an average return of 0.45R. So it would be a really good trading system. 1/3 of the class go bankrupt. 1/3 lose money and about 1/3 get rich. The unusual differences has to do with position sizing and is not the point of the course yet. The point here is some of the losers blame the person who picked the marbles from the bag and had a losing streak. Thus not taking personal responsibility. They did not recognize their mistakes and thus will not learn from them. So they will repeat their mistake over and over. The best thing a trader can do, when things go wrong, is to determine how he or she produced those results. Then determine what the choice point was and give yourself other options to take when you encounter a similar choice point in the future. Daily debriefing (journaling): Acknowledge the mistake, determine the circumstances that caused the mistake, then mentally rehearse an alternative (more useful behavior). Assignment: listen to Rhonda Byrne’s The Secret. It took a few days for my request through the local library to go through. I have listen to some of it already. When I finish I will come back to this page and update it. The secret is the “law of attraction,” Which is essentially positive thinking gets positive results. But it pushes two thoughts with that. One is negative thoughts attract negative results as well and that this law of attraction has some new age “power” to it. Forgetting about the latter for the moment I have seen the former in action. I meant one of the luckiest people and worked with him in graduate school then the cooperate world for about 12 years. It’s amazing how luck is always on his side and he always makes the assumption that luck will be on his side. After 12 years I see how it actually works. It’s two major traits. One there must be dozens (or more) little decisions made every day that are very binary. He will always lean to making the decision that may bring something positive, though the odds are very small. I will tend to do the opposite and make decisions that may cause something negative to happen. After say a week, a few hundred of these choices have occurred. One or two pan out or a combo of several and something reasonable go his way and the opposite for me. Since it is impossible to follow the repercussions of all these choices, it looks like good or bad luck. The second trait is an open mind to different possibilities. If you think that something positive may happen, when an opportunity, though it may be outside the box, crosses your path, he would see it and act. I would be close minded and not see it. There is actually some data for this. I once read about an experiment where volunteers were gathered. One set of people considered themselves usually the lucky type and the second group considered themselves unlucky. Everyone was given a newspaper and asked to count the number of pictures in the newspaper. The unlucky group usually took 2 or 3 minutes to count all the pictures. The lucky group usually took around 10 seconds. Because the lucky group all noticed a big sign on page two stating, “there are 46 pictures in the newspaper.” The unlucky group were focused on just looking for pictures and never noticed the sign. You can imagine how that applies to day trading. So you need to make yourself luckier by using the power of attraction.
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