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Showing content with the highest reputation on 08/01/2019 in all areas
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4 points31.Jul.19 Green day. 4R. Today is a day of Patience for me. Took the first trade only at 12.25PM. Did the premarket analysis, watched the open, didn't take beautiful setups on $AMD (MA rejection- 2nd min) $AAPL (Flattop breakout - 4th min) and $GE (ORB - 20th min). Just wanted to make sure I don't take any ordinary setups. Watchlist: $AMD, $MU, $FB, $AAPL also watching $ENPH, $TWOU Trade1: $TWOU. $TWOU was bearish the whole morning, afternoon it reversed and I took long after the MA cross and the price bounced inside of 50MA. Partial at 2R, 3R and stopped out at 1R. Trade2: $TWTR. Took a scalp below the 50MA on 1/5 min, Federal announcement on rate cut happened then. Took very smal size and scalped, as everything was following SPY. Good: I was able to remain patient and calm, while everyone in the chatroom is taking their trades making money. I stuck to my rule and traded only setups. Didn't over trade, only 2 trades. Improvement: None today.
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3 pointsHaving fun is the best approach. You will learn. When I look at the first few swing trades I posted at the beginning of my thread, I now see them and go what was I thinking?, you learn as you go. Best advice I ever received: go to market everyday and just survive keeping small losses, everything else you will learn and it will work out over time. You need to bide that time... so don’t be dejected.
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2 pointsI'm AA. I've been trading on and off for over a year now. Recently, I want to take trading more serious so I start to record my trades in a journal. My result hadn't been great, but I usually have some kind of ideas/excuses on why I would take a trade. So by writing this journal on BBT forum, I hope to get some feedback about my trades so I can improve as a trader. Anyway, I've been red all week so my goal for today was to make a few good trades and be done for the day. By doing so, I will be able to gain back some confidence in my own ability. Today, my main watch list is AMD, CROX, PX and WLL. My side watch list is QCOM, MU, and SPWR. Usually the side watch list are for stocks that price too high for my account or I don't have share for short, or maybe penny stocks. Trade 1: I saw that AMD had a strong open. I took a 1 min ORB when I see that it bounced back from VWAP on the 1 mins chart. 1000 shares at $30.66. My stop loss is below VWAP. Sold 600 at $30.7 which is high of the day. Then the rest towards the 200 SMA on the 5 mins chart for a profit of $70.40. I usually don't take trade in the first 5 mins so I was scared of the volatility of market in the first 5 min. As a result, I took profit way too early. As you can see, I scaled out way too early too... Missed out on a 60 cents move Good trade, but bad management. Trade 2: CROX gapped up a lot. It sold off badly in the first 5 minutes. This is probably the sign of share holders and swing traders taking profits. I saw that CROX bounced back perfertly from $24.6 level. That is the 200 SMA level on the daily chart which is an extremely strong support level. Then, I saw CROX pushed up above the MAs and VWAPs. It consolidated at this level. On the 5 mins chart, CROX seemed to hold the VWAP. I went long at $25.69 for 1000 shares. Stop loss is a bit below VWAP. Target is at around the @25.99 level then high of the day. Anyway, I sold 600 at $25.91. 240 at $26.05. The rest was supposed to be sell at $26.35 but it dropped 12 cents on me so fast that I sold it at $26.23. Profit of $304.80. Overall, today is a good day. I missed two opportunities today. One was on WLL. WLL gapped down a lot. I saw that it reject the VWAP and wanted to go for a 2 mins ORB, but then I saw that the spread was 10 cents! So I didn't take the trade. Right now it has SSR but I think it didn't have that at the time. Another missed opportunity was on SPWR. It gapped up a lot due to good earning. The last 20 mins of the pre-market seemed like it was ready to pop up. Well, I saw a strong open in the first 5 mins, I was waiting for it to pullback to test VWAP. If it holds VWAP then I can go for ABCD + ORB strategy. Well, I saw the pattern on CROX around this time and decided to trade CROX. Next thing I know, it skyrocketed without me
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2 points8-1-19 Woke @ 8:00 very tired from last nights work. didnt eat well and had a lot of problems at work. SSS, coffee and a bar. I feel like I am getting much better with the pre-market and gathering my watch list I missed SPWR on ORB because of my past false reads within the first 5 min. I was having serious FOMO but I did not take it 9:45 +AMD ABCD on 1 and 5min, s/31.04 just below the 9, t/ 31.33 a daily that I have marked. I did take two trades because I wanted 500 shares and I only have hot keys for 400 and 100 (Ill fix that). This is the first day that I am now trying to work onj a fake $5K account (which is where I plan on starting). Took 50% Partials at 31.34 and 31.42, kept my stop trailing at under the 9 and got stopped out at 31.23 for a GP of 92.25 and 88.87 after fees This is my first one and done (in SIM)
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2 points1/8/19 feeling really crap today, dont think ill trade for long if it doesn't go well from the start. Trade 1: 5 min ORB stopped out due to too large share size. Trade 2: 5 min ORB on AMD, entry wasnt great because i was trading SPWR but turned out to be a nice trade. Trade 3: dont know what i was doing here guess i thought it would bounce. feel like a hot mess tbh Trade 4/5/6: me being stupid. went short, went against me so took the reversal and got stoppped out again. the traded it long and partialled out straight away because i was scared. Dont feel up to it today and lost a lot... think im gonna go take a nap.
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2 pointsThank you so much for sharing your experience. I cannot tell you how much I appreciate your feedback. I am feeling quite dejected at the moment. I did not risk more than 1% on any trade, but now I can see how quickly one could be out of this altogether quite quickly. So happy that BBT emphasizes the importance of sim. Every loss teaches me so much. One of the most important things I need to do is learn how to use DAS. The platform I am in right now does not have a good sim -no real time data, no retention of my trade data. I really am having so much fun though -- there is so much to learn and test and adjust, and test again. I do not have time to do any rigorous screening right now, so I will wait to take a trade until I can give it the attention it deserves. I imagined myself picking up some GE at $10.06 today (I watch it everyday) , and then just stalked it for 3 hours. If I had more experience, maybe I would have jumped on it. I am treating my sim account like real money. I need to have the emotions baked in when I go live. Again, Nas, I really appreciate your taking the time to give me your input and your encouragement!
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1 pointI was getting burnt while taking the conventional ORBs at the open. It affected my pshychology when my first trade of the morning fails, even when I think the setup was perfect. For e.g, A beautiful strong 1min open candle on $TIGR below, with no wicks, I went Long and got stopped out. If my first trade fails then it becomes a catchup to overcome the losses and then achieve the daily goal, and my pshychology gets messedup. I found some ways to narrow the ORB setup down to a level which offers high accuracy and would like to share this strategy "Pullback ORB with Breakout Entry"|. I have tried this out for the last couple of months and it has worked very well so far. The reason for this setup: I wanted a high accuracy setup at the open. I don't like overtrading, I prefer one and done, if possible. I am time constrained during the day. I can trade only at the open for 30-40 mins. And I am not good at Trading reversals. About the setup: This Pullback ORB-Breakout Entry works very well with @WilliamH Harmonious Charts. Step 1: At the premarket, find a Harmonious setup, where the price action is above (or below) all the MAs on multiple timeframes 1, 2, 5, 15, 30, 60min and Daily (most of them, if not all). I prefer when the Harmonious chart is also ATH/ATL (All time High or Alltime Low) Step 2. Pullback candle: At the open, Watch the 1min chart for the first 2 mins. Check if the 2nd candle is a Pullback Candle. Then it is an Alert. E.g Below. Step 3: Breakout Entry: Wait for the 3rd candle to break the previous 2 candles high (only bodies, no wicks) and take an entry. E.g Below. Step 4. Profit Targets: This is usually high RR setups, some times as high as 3-4 RR and a good candidate for riding till close. Step 5. This pattern/Setup works as good when it occurs on 2min or 5min timeframes too. If step 2 doesn't occur on 1 min chart, switch to 2min chart and watch for the pullback candle on 2nd 2min candle. Continue Steps 2-4. If it doesn't occur on 2 min, switch to 5min chart and continue steps 2-4. P.S: Harmonious charts - Sometimes you may find higher timeframes as Harmonious and smaller timeframes not harmonious, Wait for the open to see if the price action becomes Harmonious on these smaller timeframes too. Contrary to other setups, this setup works well when it appears on smaller timeframes. Eventhough it may appear on 15 or 30 mins, the setup may not provide high RRs. These are not rare setups, they occur almost everyday on common stocks like $FB, $AMD, $MU, $UBER, $TSLA etc., At the open, I watch 6-7 stocks for this setup and switch from 1min to 2min and then to 5min. Please let me know if there are any questions.
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1 point01.Aug.19 Green day. Today I wanted to try my other setup for the Open. I have seen this work on other stocks too (E.g $AMD yesterday). I was watching $WLL and $PS for this setup at the open. Watchlist: $AMD, $MU, $FB, $QCOM and $WLL, $PS Trade 1: $PS. The stock had gapped down today at the open. And during premarket, it kept selling. At the open it pulled back to MA (due to all the shorts covering at the open) and then $PS continues to go down. My main focus was getting the perfect entry today. My entry was just below VWAP. My stop was 5c above 50MA on 1min. And I had partialed at 2R, 4R and 6R. Entry - $20.9 Stop - 5c ($21.04) Profit - $20.71(2R), $20.5(4R), $20.26(6R) Price dropped to $19.42 (ie more than 20R) but I had no shares left Trade 2: $PS. I took 5min conventional ORB again, as the stock was very weak, but it failed me again and I got stopped out. Good: My objective was met in this trade, ie) attempting this setup and getting a perfect entry. Improvement: I could have held on to 10% of my shares, as the price dropped over 20R. I felt bad about leaving so much money on the table, but again my objective was met and I should be happy.
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1 pointThursday 8/01/2019 I had a well-being score of 5.5/10 this morning. My nerves were fine. WIFI was poor in our hotel room, the last 3 days, so I couldn’t even trade SIM. But it was a family vacation so I probably shouldn’t have been watching the markets. I have not taken a live trade in a week. I took one live trade with AAPL and one SIM trade with MU. I only liked AAPL in the premarket. I had MU on my secondary chart but was not planning to pay attention to it until 9:33am. I had no bias on direction on AAPL. Though I would likely need a hammer or weak first candle and pull back on the second 1min candle to go short. To go long my setup was simple, if it breaks the high of premarket <1min with high volume go long. I was betting on the 200MA-5min being a magnet to pull the price up. I usually would shy away with that big resistance in front of it. But I have been noticing the 200MA-5min is really good price magnet very near the open <1min. Though it may bounce and retrace to stop out. It’s a good place to take a partial and get out at B/E, where the price usually keeps retracing. Though it has a lower chance of working out it has a lower chance of a full -1R stop out. So, I took the trade when it looked like it broke the HOPM. Though looking at the chart now, it actually didn’t and I entered the trade a little early. My target was the 216.50 level and my stop was all the way down to the 200MA-1min, so I had to go a little light on the shares. The price touched the 215 level twice and took some restraint not to take a partial there. Then I almost got stopped out. But, I waited for the correct first partial at the 215.23 level. Then I was about to take another quick partial at the 200MA-5min, but the there was a really big ask (unusual for AAPL where L2 is not very useful at the open) for 215.50, so I waited. The price popped and I took another partial. Less than a minute later the price had a big and instant spike down through my B/E stop. So I took another partial, since I was losing faith in the trade. Once it broke back through the 215.23 level I exited. The chart when I took the trade. The entire trade: I took a SIM trade on MU, trying to practice my 5min ORB. MU opened strong and I saw AMD was really strong as well and I was hoping MU would follow. MU created an ABCD and I went long at the break of the 5min candle body. The same story with the 200MA-5min. Was it a hard resistance level and I shouldn’t take the trade or a good magnet for the price? Since this was SIM it was worth a try. My target was 45.81 level and my stop was VWAP and the 45.31 daily level. I took my first partial at the 200MA-5min then partialed when the price seemed to halt. I finally exited when we had 3 LL/LHs in a row. Score card AAPL 87% What I did good today: Waited for the correct first partial on AAPL. How did I challenge myself today? Traded with the higher risk per trade ($30) What can I do better: Wait for the proper entry.
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1 pointJuly 31, 2019 - Nothing What a way to start a vacation. Terrible trading all around. I gave into FOMO and took a trade that wasn’t even close to anything I trade. Why? Simple, For two days in a row I have no setups and I have this huge urge to work my profit taking plan. Absolutely, positively the worse trading day in a very long time. I even took a sim trade because nothing was there and then went back and took a live trade. No Trading for me tomorrow as I will be on the road. Hopefully, I will trade on Monday and Tuesday. There is one good thing. I stuck to my stop loss and only had a 1R loss. I guess that is a highlight to focus on. Sample Set Results, S E P S P 16 17 18 19 20
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1 pointJuly 31, 2019 - Nothing All I have to say today is that July aka "Adversity Month" is over and I am glad. Yeah for August. Sample Set Results, S E P S P 16 17 18 19 20
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1 pointWednesday July 31st, 2019 Sleep: 7 hours. Mood: good ready to trade. Doubting my ability to trade earlier but i've decided to be more determined in my trades today. First trade was a wedge in ENPH. took it long on the break higher. hit the wrong hotkey and got filled way too much so i took off half at breakeven. sold another half on the break of the whole dollar and the rest at break even. shocked and dissapointed i lost money on this trade. i knew i didn't make a whole lot but i thought with everything at b/e or above it would be a green trade. i was wrong. GOOD: timing on entry, reducing risk on hot key error RFI: hot key error MOOD: fine, played the price action right CONSISTENT: yes Next trade was a moving average trend short in AMD. took that price action as a pullback and got in anticipating new lows. i got some of the move i wanted but i got out too soon. i also got in too soon. had my entry and exit been about 4 minutes later it would have the best trade of the day GOOD: right call on the price action. RFI: too early on both the entry and exit. should have held a little bit in case it broke lower like it did MOOD: good. CONSISTENT: yes i'm happy with my decision even though it moved without me. next trade was in AMRN. my worst trade of the day. i should have used that crazy candle as an indicator to stay way but it was making new 5min and 15min highs on volume. it just didn't work out. i did a good job seeing it wasn't going to work and then bailing. GOOD: got out limiting loss RFI: dumb trade to be in MOOD: good CONSISTENT: yes then i took pretty much the same trade i took in AMRN in AAPL. also didn't work. had i waited or flipped my position, this would have been an amazing short. GOOD: got out before stop RFI: too early on the entry. MOOD: good CONSISTENT: yes. last trade of the day was another short in $AMD. took this as a failed bull flag. i kind of wanted to take this to the long side but there was just too much resistance above. so once it made a doji and a new 5min low i got in on the short side. got out once it kept buying up over the whole dollar. glad i got out. GOOD: entry and exit timing RFI: flipped my position MOOD: good CONSISTENT: yes. What i did good today: got out of my comfort zone and took some quick trades near the open What i did bad today: took those two dumb ABCD trades in AAPL and AMRN that don't make any sense What can i do better tomorrow: take more trades than earlier in the week but less than today. too much journal-ling with six trades. Other comments for tomorrow: I know i need to take more quick trades right at the open but i over did it today. i'm limiting myself to three total trades a day. happy with how i read the price action except for getting out of the first AMD short.
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1 point7-31-19 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.
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1 point31/7/19 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...