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Showing content with the highest reputation on 08/07/2019 in all areas

  1. 1 point
    Look to the LEFT at the candle patterns......a low was broken....... at the low is a indecision candle which will offer resistance......notice on any chart past DOJIs offer resistance/support......will they hold ?....not known but its calculated risk....notice the breaking of past lows (esp on 15M) and if tht low is a DOJI style candle. Plus it breaks a DAILY level. Its a good starting point in addition to the comments above. A lot of confluence to be bearish. Processing all that info quickly on the fly is another skill or planning before the market opens is also a developed skill. Good question/observations.....we should analyze more of his trades like this......take a few images as he trade and post here. Very good question Jason.
  2. 1 point
    Thank you for the thoughtful responses @SpoTT Trader and @NinjaTrader. I think this quote from SpoTT is an important one. You can't see how quickly MU probably began to drop at this point (first screenshot). So along with the other things mentioned by SpoTT, it looked like a possible short opportunity.
  3. 1 point
    7/8/19 after my horrible day yesterday i went and caught up on the wednesday workshops ive missed over the passed few weeks and they have been helpful. i havent been taking proper set ups so im now going to start recording how many winners i have for specific strategies and hope that will keep me only taking good setups and give me an idea of what im better at. feel really happy about today, only took good setups 6 winners 4 losers Trade 1: 5 min ORB, the red candles had much lower volume than the green so i went long just below VWAP with a tight stop and turned out to be a perfect entry and a nice trade. Trade 2: DIS looked weak and looked like it was doing a false breakout so got in on a pullback to VWAP but stopped out, slightly missed my stop but not by much. Trade 3: CVS was respecting the 50 in the 5 and saw it bounce off the second time so went long, got a nice scalp at VWAP then out at b/e. Trade 4: ROKU broke VWAP with volume so went short on a slight pullback for a reverse ABCD below VWAP but stopped out. Trade 5: WW was strong and looked like it was bouncing off the MAs so went long for a scalp then stopped out at b/e. Trade 6: this looked like the start of a reversal making lower lows so went short on a pullback but stopped out when it made a new high. Trade 7: it then couldnt make a new high so went short for the reversal with small size at first then added on the way down. i knew i was going into support so got out early and actually got the perfect exit. Trade 8: DIS was strong and bounced off a lot of MAs so went long and took some good profit before i stopped out at b/e. Trade 9: CVS was strong and dropped suddenly so i went long for a move back up but stopped out below the MA support. Trade 10: i really liked this trade. CVS was strong all day and came down to VWAP, i expected a bounce and got a perfect entry just below VWAP. got one nice partial and brought my stop to b/e but i was really patient with it, saw a pendant form and waited for a breakout then just waited for my 2R then 3R for final exit. Really good day for me taking good setups. Happy Dan
  4. 1 point
    Wednesday 8/07/2019 I had a well-being score of 6.5/10 this morning. My nerves were fine. I took 2 live trades (AAPL and AMD) and 1 SIM with MU. I definitely did not help the score card average today. I even almost hit max loss. With the premarket I saw no reason not to keep AAPL and AMD as my two main focuses. PM looked good for both but I had no bias for either stock at the open. AAPL had 2 bullish 1min candle before the open, then after the open created a hammer on good volume. I would usually go long at that moment, but I was worried about a pull back to VWAP and the price would drop again. So I waited for a break of VWAP, but I wasn’t conscious enough of my scale. Waiting for a break of VWAP I gave up 50 cents. The price did break VWAP shortly after but I did not wait for the confirmation of the break. I have been working on this. I need the price to hold or go back and test the support level (here VWAP) and find support. I actually did this well yesterday. But that was yesterday. Today I went long immediately on the break of VWAP. My target was PDC with the 195.38 daily level as my stop. The price retraced and I was stopped out a minute later. There was some slippage on the stop so it was a -1R+ loss. Actually the setup wasn’t really that bad, it was just a terrible entry. Either take an aggressive entrance after the hammer was formed or a conservative one waiting for the show of VWAP support. I took somewhere in between and paid for it. The chart when I took the trade. The entire trade: My next live trade was with AMD. The 2nd 1min candle was quite bullish and there was a level at 28.60 that seem to be strong resistance. The 3rd candle formed a hammer so I went long at the break of this 28.60 level. I had a good feeling that VWAP would pull it up, but would it break VWAP? That I had no bias and I was going to pay my R to find out. But, if it did I thought it may make a good run so I liked the R/R. My target was PDC with my stop at the 28.49 level. AMD made another bullish hammer and tested VWAP and found resistance. I know in hind sight it looks like I should have bailed at B/E at that point, but it really only tested VWAP once. It looks like from the screen cap of the trade that two candles tested VWAP, but actually it happen to test VWAP at exactly 9:34 so it looks like both candles tested VWAP. The price hit my stop shortly after. I took a -1R+ loss as well, from this trade, though there was no slippage. My entry to stop was 12-13 cents. I have a 10c and 15c R button. I usually round to the more conservative, but after my AAPL stop out I went more aggressive. I have no specific rule against this, but it caused me almost to hit max loss today. The chart when I took the trade. The entire trade: I then took one SIM trade today on MU on a 5min ORB. It was my most profitable trade (SIM or live) in 2019. I thought it would cause serious FOMO that it wasn’t live, but it didn’t. It actually may me feel better. Score Card (live trades) AAPL AMD 75% 87% What I did good today: Took a really good trade with MU. What I am grateful from today? Not feeling salty about the two big stop outs. It is actually cool that I was 33% win-rate with two big stops and still positive. What do I need to improve on: Control emotions after a stop out. Watch for the price scale on your charts, I have been burned before from it.
  5. 1 point
    8-7-19 Overall I feel a little tired as of now, woke at 7:40 (hitting snooze) only about 3.5 hours of sleep. Work went a little late last night. SSS and a Bucci Pay Attention to: Do not trade in the first five..... make sure I have clear R/R .......... Pay attention to the spreads......... I made sure to sit on my hands for 5 min. plus +AMD ABC a little late but just tightened up my R/R took 25% x 3 then all out at a little above BE when I seen the price action changing +54.74 +CVS on what I thought was a pull back on an ABC but was a reversal Also took a bit more shares than I should have my stop should have been 1R ($50) but was instead Also I did pay attention to the spread but it was also a little high for my likening (70.00) +MU looking at ABC on 1min. again did not like the price action after I entered so I partialed out early and moved my stop to a profit +29.98 -AMD went with a reversal without good confirmation. The bear candles did not cover the late Bull candle. I did realize it and took only 100 shares and got out for a very min. profit +3.00 Pros: Obeyed my stops and did pay attention to the spreads...... I also took a break between trades that I needed to review myself........ I did have clear R/R levels Cons: I am entering trades a little late because I still do not trust myself....... After I took a couple of the trades I then looked over at the LVL2 Note to Self: Continue to watch the spreads.......... Make sure I have clear R/R........... Take less trades with a more clear pattern...... Pay attention to LVL2 before I take the trade...... P&L Target 50.00: +17.72
  6. 1 point
    Wednesday August 7th, 2019 Sleep: 7 hours. Mood: busy with work stuff all premarket. didn't take any live trades again. i wanted to take the WW ABCD but the spread was high and as soon as it broke the new 2min high it jumped 30 cents and i didn't want to chase it. took another ABCD in WW but in sim. it is currently in my favor 1R but i don't know if it's going to hit my PT. i did not take this one live either because it's getting later in the day and it looked like it wasn't going to break the $29 level so i took sim just to keep myself from taking a dumb live trade. My fear of entry is starting to worry me on the surface but the more i think about it the more i'm fine with it. my immediate concern is that if i keep missing these good trades i'm going to end up FOMO'ing a bad trade. I seem to be oscillating between overconfidence causing me to take too many trades and being too fearful to take a good ones. That being said, i think one of the most important parts of trading is finding that sweet spot between fear and overconfidence and i see my current situation as part of the learning process that will help me eventually get it right.
  7. 1 point
    Here are my opinions on what Andrew saw. Aug 5th opening of MU - Pre-market conditions of MU were a continuous fade. Showing weekness. Perhaps short biast on it to begin with - SPY on the low (influence) - on open (9:30) there was attempt to break the high of the previous (pre-market) green candle. It failed to break that. - In addition, it failed to break/hold V-WAP as well as 9 and 20 EMA - Once the first minute candle closed, the price popped up just touching the V-WAP however fell easily/quickly indicating a short potential (this happens quickly remember) - with anticipation of the price continuing to fall, Andrew place his short orders anticipating the break of the previous candle body and wick - Andrew scalped his profits at multiple stages as it continued to go lower, 20-30 cent scalp range. Very nice. I'm not sure based on your screen grabs if Andrew closed his entire position on the second minute candle or if he held into the 3rd minute candle which would have rendered him another potential 30 cents on remaining balance of shares. Hope you and others agree with what I have to say above. If not, please share your ideas.
  8. 1 point
    06.Aug.19 Max loss day, more than maxloss actually, as got hit by Slippage of more than 1$ on $ROKU. I was so biased on Long today, It messed up all my trades and stopped me out. I had less than 4 hours sleep for the last 2-3 days and it is really having an effect on my trading. That's why I journaled early today so I can take some rest. Watchlist: $SNAP, $ROKU, $GSKY and $TWTR, $AMD, $MU. Watching $ROKU and $GSKY at the open. $SPY is up. My main pick was $SNAP which was down (against the market). And $ROKU, which had a independent run yesterday and looked good today. Also watching $GSKY which was at ATL and harmonious. Trade1: $GSKY. $GSKY had the perfect setup for me to take short. It had gaped down on Daily and pulled back at the open, I could have gone short. I hesitated because I don't know the stock. It dropped 1$ in the first 15 mins. got FOMO going now. So later when the stock appeared to have reversed I took a Long for fallen angel, but got out as the move didn't happen immediately. Trade 2: $ROKU. Was long biased on the market and $ROKU today. I preempted the ORB move a bit. The FOMO on $GSKY may have played a part unconciously, although I didn't remember it while trading $ROKU. Trade 3: $ROKU. Took a reversal after the price bounced off 200MA on 5min. Din't like the price action and got out. on both Trade 2&3 I made a mistake in calculation of shares and went double the share size. Trade 4: $ROKU. Took a reversal after the MA cross of 9/20 (1min), with a new 5/15min high. But it dumped on me following $SPY. Had a bad slippage and loss on this. Trade 5: $PYPL. Price formed a hammer above VWAP and MAs. Took it long, but stock dumped me for a SO. Andrew also took the same Long and got stopped out. Good: Din't overtrade or Revenge trade. Got stopped out alright, except for the slippage on $ROKU. Improvement: I am ok to be biased about the market and stocks, but have to change the view as the market evolves during the day. Also, took twice the share size by mistake.
  9. 1 point
    Tuesday 8/06/2019 I had a well-being score of 5.5/10 this morning. Getting only 5.5 hours of sleep every night is really catching up with me. My nerves were fine. I am so glad I took a trade with a good score card, my scores have been poor lately. I took 1 live trade with AAPL and 3 SIM trades. With the premarket I saw no reason not to keep AAPL and AMD as my two main focuses. I had no bias on AMD but I had a strong long bias on AAPL. I really liked the premarket. Lots of volume and AAPL gapped up, then gave half of it back, then slowly creeped up to test high of premarket right before the open. The last two 1min PM candles both tested the HOPM and found resistance. Huge volume for AAPL at the open. First, the price dropped and tested the 196.18 daily level twice finding support. Then shot up and plowed through the HOPM and the 197.09 daily level. Then the price dropped down and tested the HOPM and found support. I went long the moment it bounced from that level. My target was the 197.67 and my stop was 196.50. Since I entered the trade 20 seconds after the open on high volume I assumed I was going to get a bad fill (around 197). Plus there is a lot of slippage this close to the open so I took shares for a 75 cent R. This large of an R is not that uncommon this close to the open. But, I ended up with a great fill, so it looks a bit odd in hindsight taking so few shares. I used up 5 partials to make it to my target. My current goal is to only use four. Though my first 3 partials were all small. And I was happy I exited right at the peak. The chart when I took the trade. The entire trade: I then took three SIM trades today and was stopped out on each one. I have been stopped out on all of the last 6 SIM trades I have taken. I need to review my SIM trades to see where I can improve. Score Card AAPL 94% What I did good today: Good score card What I am grateful from today? I had laser focus after the open, just looked at AAPL with some glances at my SPY chart for insight. What do I need to improve on: Still need to work on the next step of improving my partialing. Need to keep it to 4 partials to my target. I need to review my SIM trades to see where I can improve.
  10. 1 point
    6/8/19 feel pretty good today but hoping the markets a bit more stable today, looks like it should be with only 1 thing on the gappers at the time of writing. crack head day thankful im not live :):):):):) Trade 1: seemed like a good entry for a 5 min ORB but stopped out small size. Trade 2: went for the engulfing crack on NVDA and got a nice trade on this. Trade 3: this was reaaaally bad, went short on a pullback but didnt reduce my share size for being so extended from VWAP and so panicked and didnt stop out so took a huge loss on this trade. really glad i wasnt live for this although DAS would've cancelled this trade once i hit max loss. Trade 4: thought AMD was weak from the open so was expecting push lower from VWAP. i was so keen to make my money back i kept adding more which i shouldnt have done, i had 4 x my max share size in this trade and if it went against me i would've blown up... Trade 5: ROKU looked like it was reversing with a double bottom. had a trend line drawn for my stop but made a hotkey mistake on my exit so took another big loss on this. Trade 6: basically the same as the ROKU trade and it screwed me in the same way. calling it a day i wont come back from this and will make stupid mistakes now and get frustrated.
  11. 1 point
    8-6-19 Overall I feel rested, 4.5 hrs sleep, woke at 7:30 SSS coffee and toast Today I will try something, If I take a trade either with a very bad entry or false setup I will come here to log and then continue giving myself a few minutes to reflect and make improvements. I will also attempt to keep up with a P&L +AMD for a scalp, entry a little late then tried again on 1min but it was just a pull back. (8.00) -TTWO I did not have defined stop or profit targets and ended up out too early. (67.00) -ACB 6.94 again late should have been in at 7.00 A hotkey mistake I thought I covered when I seen a change in the pattern at 6.85 +45.00 -ROKU 99.89 (I programmed the hot key wrong and instead of partialing out 25% I was adding 800 shares same as above) I did exit early on a pull back when I should have read the level 2 that Andrew called after my exit but would have ended up the same way after looking at the charts +87.00 / with my hotkey mistakes it did come out to a loss ...... my hotkey was a program error on my end.......... +MU 42.01 s/ 41.95 yesterday close t/42.18 MA, 50% out at 42.12 and stopped at BE +27.50 +BABA took it as a pull back but ended up making a double bottom and then I scared myself into not trading the double bottom and thinking that I may be revenge trading. I did stop at my stop loss for minimal damage (32.00) Pros: I did obey my stop losses and took a break in between my trades that I did not feel good with Cons: Did what I said I would not do, I took trades for early scalps and did not have any good patterns that I recognized early on. I also did not have clear R/R targets on a couple of the trades Note to Self: Stop trading in the first 5 min......... make sure I have clear stops and profit targets ......... P&L Target 50.00 +52.50
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