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Showing content with the highest reputation on 08/03/2019 in all areas

  1. 1 point
    I went live January 2nd and i'm going to try and update every day i trade. The eventual goal is 1000 share trades. From Robert H's advice, i'm starting with 100 shares per trade (100 max, depending on the auto share calc hotkey) and working up from there. i move up a level every when i hit my min profit goal 5 days in a row. stop is the max amount i'm willing to lose in a day. Current level: 100 shares. Every trade is graded on a point system (out of 4) as follows: consistent winning rules is a little subjective on my part. one example would be getting out of a trade because i'm uncomfortable but not because of the price action. Current Risk Settings (DAS risk settings): Max Loss (Per day): $36.00 this includes commissions. Position Unreal Loss $10.00 not including commissions. I use Kyle's hotkeys to auto calc share size based on predesignated risk levels. any feedback is appreciated!
  2. 1 point
    I 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.
  3. 1 point
    Week 31 Recap Rough week for me. Hit my usual 33% win percentage but none of my winners were greater than 1R. Decided to start taking more live trades at the open and I just got beat up Thursday and Friday. Back to my slower trades after the first 15 minutes are over. · Weekly stats o 2.5 planned R/R (Goal: above 3.0) [Previous Week: 2.4] o 45/48 94% (Goal: above 80%) [Previous Week: 100%] o -$73.67 (Goal: $150) [Previous Week: $5.56] o 4/12 33% trades with the trend (Goal: 100%) [Previous Week: 33%] o 5/12 42% Non-optimal Entries (Goal: 0%) [Previous Week: 33%] o 0/12 0% Letting Losers Run (Goal: 0%) [Previous Week: 0%] o 2/12 17% No Setup (Goal: 0%) [Previous Week: 33%] o 4/12 33% true win percentage (Goal 45%) [Previous Week: 33%] · Highlights o All stops respected o Added rules for position sizing o Had a good 3R trade in MYL that would have worked had I not given up on it · Ongoing things to work on o Have to capitalize on winning trades o Practice taking all setups next week o Better entries
  4. 1 point
    My PTC trade did not trigger, I look for gap up on strong volume.
  5. 1 point
    Thanks Mark. I use Range order all the time. Once I put my range order, I get out of my seat, get some coffee etc., come back in 30-40 mins and then I''m like, ''ok that's enough" and close my position. I think I have patience for upto 30-40 mins, but not more than an hour. May be I need to get couple of miles away from my house, so I don't come back within an hour. Statistically I have only 9 trades that lasted over 40 mins out of 110 trades so far. Compartively, I have had 44 trades that lasted only 5 mins (500% more).
  6. 1 point
    Try some range orders on your midday trades and go do other stuff instead of watching every tick
  7. 1 point
    Looking at PTC Long as a relief move if market cooperates
  8. 1 point
    Hi all, I just signed up for the lifetime membership. I really enjoy learning about economics and finance, investing, and trading. I currently live in Tokyo, Japan, and I work as a UI designer here. I'm from Toronto, Canada.
  9. 1 point
    @KyleK29 I am amazed by how much effort you've put into this solution. Thank you on behalf of the entire Bear Bull Traders Team! Would it be possible to automatically send a STOP MARKET order along with the buy/sell execution? The following script only sends a STOP with some arbitrary price relative to Average Cost: Share=Pos;ROUTE=STOP;StopType=Market;StopPrice=AvgCost-0.10;TIF=DAY+;SELL=SEND How cool would it be to double-click your stop level, automatically calculate share size, send the order, and send a stop order with the press of one hotkey. Thanks!
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