Leaderboard
Popular Content
Showing content with the highest reputation on 08/23/2019 in Posts
-
3 pointsFriday 8/23/2019 I had a well-being score of 7.5/10 this morning. My nerves were OK. Traded half share size today since it is Friday. I took 2 live trades with AAPL and FL and 4 SIM trades. So AAPL and TSLA were on my market open watchlist with MU, AMD, CRM and FL on my 5min ORB watchlist. Both AAPL and TSLA felt the tariff crunch and was trading with the market during PM. I had no bias for TSLA, but AAPL has been having these small pops at the open. It opened with the usual hammer with good volume and I went long when it was about to engulf the PM last candle. My target was the 210.83 daily level, which was $1.20 away, which is perfect. My stop was the 50MA-1min which there was PM respect. The price did pop, but only 60 cents. I got two partials than the price dropped and I exited at B/E with some slippage for a small win. Though I am not familiar with FL it was setting up for a 3min ORB like the ones MU use to have setups for. I went long on the break of the 3min candle and 200MA-1min. My target was the $38 and 200MA-1min my stop. I took a partial at the HOPM which was also the HOTD. Then a heavy partial when it moved 20 cents further. The stock did move 1% on the trade which is good. I then took 4 SIM trades. Two losers and two winners. All 4 were +/-1R gainer/losers, so I broke even. I didn’t let my winners run. Score Card (live trades) AAPL FL 92% 91% What I did good today: I like my score cards today. What I am grateful from today? Trading a new stock ticker. What do I need to improve on: Need to perform my periodic evaluation of my partialing. It’s been too long and there is way more scalping now.
-
3 points8-23-19 7 hours sleep and feel much better this morning.... SSS and a Bucci PAT: Watch the spreads....... Make sure Im in Montage....... Sticky Notes!!! .......... From morning show I will be cautious and take small share sizes and either add in or take the small loss.... AMD first trade ORB Stopped out below the 9MA ...... took very small share size... second trade VWAP reversal.... very tight stop with a target of the 50 and 200 on 5min..... took small size to start then added in on confirm.... took out 50% at target and all out at BE........ (5.00) MU first trade IDK pattern (I Dont Know) I am not even sure what this was but I did take very small size and got stopped out second trade VWAP, break of VWAP on the 2, 5, 15min with small share size.... kept stop tight below VWAP on 5min, target 50 MA.... added in on confirm. took 50% off at target and all out on a small pullback, This is a big mistake I have been making, I should have stuck with BE and I would never have needed the last two trades........ third trade was frustration from getting out early so I stopped myself out............... fourth trade Trend Trade, entered again with small size and added at confirm.... stop at .43 and target .78 red to green.... took two 25% partials and added in on more trend confirm...... didn't count on Trumps tweet so I ended up getting out at BE..... +59.75 TGT first trade entered at break of MAs got stopped at below the 20 again very small size..... I should have waited for more confirm or even held onto it with the 9 and 20 crossing on the 5min..... second trade reentered when I had more confirm and addedto it a little late..... took 50% off at 200 and rest at BE.... I have been adjusting my partials depending on the strength of the stock and I felt like it did not have much more steam..... +20.00 I have traded enough for the day... If I take any more It will be SIM of SIM.... If I am home I may try some end of day again..... Cons: I did take one trade without a strategy and another out of revenge of myself......... Pros: I listened to Carlos and Norm and took small share sizes and added in with confirmation keeping my losses to a very minimum...... Found my first trend trade thanks to Kurt's explanation in the Lifetime Webinar with success and would have been great if Trump kept his mouth shut....... R=50.00: +74.75 Week Total 250.00 target: +254.62
-
2 pointsFriday August 23rd, 2019 Sleep: 7.5 hours. Mood: good, ready to trade but feeling fearful this morning. i missed so many good trades the first hour. $HPQ wedge, didn't take it because of the 200 MA on the 2min. $BA 2MIN ENGULFING because that's a new pattern i'm working on and i don't trust it to take it live yet. and another $BA textbook ABCD that i was just too fearful to pull the trigger. finally convinced myself to get in to $BA after a hammer and holding the 9ma on the 2min chart. got out $0.10 early on fear but ended up losing $0.30 on the spread. still happy with the trade. glad i finally convinced myself to jump in the trade. GOOD: took a good trade, entry was good, R/R good RFI: exited on fear, hit my profit target with no trouble MOOD: happy, good trade CONSISTENT: yes but no i should have held to my profit target. What i did good today: took a good trade, didn't FOMO What i did bad today: left so many good trades on the table What can i do better tomorrow: take the dang trade!!
-
2 pointsThursday August 22nd, 2019 Sleep: 8 hours. Mood: good, ready to trade. didn't get a chance to trade yesterday so i was ready to go this morning. took an ORBD in $LB. waited for a pullback and a new 2min low because i was cautious of the first 5min candle, those have reversed on me and stopped me out too many times so i waited for the new 2min low for confirmation. took off half when it couldn't make a new 2min low and the rest at breakeven. could have played it as a double bottom but i wasn't at my computer when it turned around. i was stopped out by the time i got back. GOOD: waited for confirmation RFI: shouldn't have left the computer MOOD: good CONSISTENT: yes What i did good today: took a good setup with confirmation What i did bad today: left my station and left money/potential reversal opportunity on the table What can i do better tomorrow: try to watch as much of the trade as possible
-
1 pointIn the beginning of your day trading journey (per your journal) you set self-imposed pdt limits of 3 trades/week and I was amazed how you had the discipline and internal fortitude to do that. Today you over-traded just a bit and it shows you’re human and as Dr Brett says “forgive yourself and move on”!
-
1 pointGreat trades today!! All the way to the end of the day.
-
1 point22.Aug.19 Green day. +4r. Decent Trading day. Watchlist: $TGT, $LB, $DKS, $JWN, $LOW. Trade1: $LB. Had gapped down on daily, also selling at the open. At the open, i took it short below VWAP, got stopped out. After the price bounced off 20MA took another short. Partialed at 2R, 3R. overall at daily target after this trade. My best trade of the day. Trade2: $DKS. $DKS had over 30% short float and also gapped up on the daily. Usually this tends to make the short sellers cover their position which results in lot of buying. But $DKS was still weak at the open, I hada bias that it would reverse. i took 2 long positions and covered after 2R. Price was choppy after that. I was at +5r for the daily. Should have stopped trading. Trade3: $JWN. Gapped up on the daily, very strong at the open. Noticed 3 shooting stars on 1min, aligning with a doji on 5min. Took it short and got 2R. On hindsight, I could have taken it long, where I exited (5min hammer at 9MA) as it was a beautiful trend trade all the way to 31.1(from 30.4). I was up 6R now and still trading. Trade 5: $TGT. Took it long on the Trend trade, was not optimistic about the move as $TGT was already extended. Got 2R/4R. but price moved another 50c (6Rs) beyond my exit. Trade 6: $LOW. I was short biased from yesterday. Once the price broke VWAP I took it short to the LOD. There were no tech support levels to the target. Unfortunately, didn't workout, as it was VWAP false breakout. Trade 7: $GPS. My worse trade of the day. There was no real setup. I just wanted to ride the price long towards 17.77 level. Got chopped up and had 1.5r loss. Should not have traded this. Good: Good trades and finished the day well overall. Improvement: I can't resist trading now. The moment I see a good setup I jump in. I need to find a way to cut down # of trades.
-
1 pointThursday 8/22/2019 I had a well-being score of 7/10 this morning. My nerves were good. I took 2 live trades with AAPL and TGT and 6 SIM trades. Feeling pretty bad about today’s session. But, as time passes I am thinking this may have been a really good learning session. So AAPL and TSLA were on my market open watchlist with MU, AMD and TGT on my 5min ORB watchlist. AAPL had an OK PM, TSLA had a lot of volume and gapped up but PM looked a little scary. AAPL setup nicely with a small hammer on lots of volume. I did have two major tech levels in front of it, so I waited for the price to breach one of them and went long. My target was the daily level at 214.14 and my stop was the LOTD. At least for AAPL, I like a major tech level in the way. It seems to pull the price to it. Yes it may find unsurmountable resistance at this level, but I am OK with taking a partial there and getting out at B/E. So I like that there is a tech level at 213.68. That level was suppose to be my 1st partial target, but since it took awhile for the price to start moving I was impatient and took the 1st partial early. Then my second partial was at the tech level. I took my third partial on a price spike. Then the momentum was lost and I exited near B/E. Too bad I took small partials. I was hoping it would run. Next trade was with TGT. I saw nice setup on my side chart. TGT was strong today but opened lower and then made a nice 2nd 1min candle hammer. I wanted to go long at 105 with the HOTD as my target and LOTD as my stop. R/R<2 but we have no substantial targets since price is at an all time high. I brought TGT to my main chart so I can take the trade. As I did it hit my entry point, but an instant before I took the trade I balked because the Y scale seemed a bit abnormal. So I stopped to recheck my stop and check if my share size was correct. My calculations were fine, but this took a couple of seconds. By that point my entrance was lost. But I don’t have a last instant check when I take a trade. If I see an entrance the share size calculation is almost instint (mostly due to my platform setup and not my mental capabilities) so there is no “are you sure” in my process flow. It was weird watching the price move but I couldn’t stop myself, the trade was already a GO. The moment I took the trade I knew it was a mistake, but it reversed instintly and price dropped so fast I was caught in the headlights. The stop was now twice as far, at least I moved the stop to VWAP so my loss was just over -1R on the trade. I then took 6 SIM trades. 5 losers and one small winner. That sure didn’t help my confidence. Though two of the losers, with a larger stop, would have been big winners Score Card (live trade) AAPL TGT 91% 75% What I did good today: Two things I learned today. After my AAPL trade my immediate instinct was that I was done for the day, switch to SIM. But, intellectually I was thinking that was a small win and I am allowed another trade. Plus, I am negative so far for the month which is highly unusual at this point in the month. For the last 9 months I am usually been positive at this point (to give it back the last week). So I really pushed myself to go against my instincts to take another trade. But, my intuition knew I was not going to trade well. And I didn’t. So it’s good that I am developing this inner voice and its getting louder. I just need to start listening to it. Second is I have an issue trading a second time on a stock I already made money. If I have a winning trade and then a losing trade on another stock it’s usually not too bad emotionally. But, if I give all my winnings back on the same stock it really hurts. Not sure why. But because of this I have really been missing out on some really good trades. Four times in 9 days AAPL set up REALLY well after my 1st trade was finished. I see it but I won’t trade it. All four times AAPL went for really good runs. If I caught just one of them I would be positive for the month. Vikram called me on this the other day and he is very much correct. What I am grateful from today? Actually happy with a -0.3R loss. It could have been worse after the TGT debacle. What do I need to improve on: Need to teach myself to take more than one trade on the same stock. Every trade should be its own emotional state, not based on a previous trade.
-
1 pointCouple of things: 1) Never trade with scared money. If you're trading with money you cant afford to lose, it's going to have a negative impact on your overall trading because of how it will interfere with your emotions and psychology. I know it's likely not what you want to hear, but it's the honest truth. 2) Andrew was a successful trader for years before he finally quit his day job. Theres nothing wrong with working while you're in the early stages of trading. With an account your size, its going to take time (and consistency) before you would likely be able to have a sufficient income solely from trading. 3) If you decide to continue trading with real money, and you're sticking to the smaller size but still having issues, I highly recommend going back to SIM. You need to identify what your issues are and work them out in paper trading. Its VERY difficult to learn proper trading strategies and techniques when you're trading with real money (especially as a newer trader). 4) You may want to connect with other members of the community to help you identify where you are struggling and what tools and tricks you can implement to help you overcome your problems. BBT has a great community and I'm certain members here will offer assistance if you're willing to hear from them.
-
1 pointI think you said it yourself, there are different ways of trading, none is better than the other. If you think about it, trade ideas scanner calls out for orbs after they break above the wicks, most of us here including Andrew take it after the break of the body(cuz it's the place where the candle closed as you mentioned, and as you said, getting in after the break of the wick can be so far, bigger room for stop, less size, and more difficult to get to the target. In my own opinion, ORBs are more difficult than they look like, it sounds easy to trade them, take the break of the 5 min, 1 min, 2 min, or whatever time frame you wanna take, but it's not that easy, you've to analyze the price action, the power of sellers and buyers, and have a bit of bias according to premarket action or the ma's/daily levels below, above, or from which the price action bounces The best for me is to see an abcd on the 1 when taking 5 min orb, abcd on 5 when taking 15 min orb, or seeing the price action holding some kind of ma and according to it take the orb with stop below that ma, basically it comes up to an ORB, but with a mini setup. Not to forget the main rules for an ORB which are small body candle, small wicks, closer to vwap So bascially, if the setup on the 1 (abcd) is completed, and the C is visible, new 1 min high is the break of the body of the 5 I'll take it to the long for the break of the body. If the mini setup is completed with a perfect entry but above the wick of the 5, then I'll take an ORB when it breaks the wicks, it all depends on the indicators we've, what they're telling us, and the bigger picture we see after combining the small details!
-
1 pointVideos are up, links in the original post up above. That took waaaay too much time. Yes, I had one trade where I happened to be recording during it. It's the part 3 video (trade example on SQ) - if you want a more walkthrough math breakdown, that's in Part 1. I'll probably do a few more here or there and add more videos to the series if I find certain scenarios that I think could be beneficial.
-
1 pointI've been there, Fernando. I know the pain of a big loss. My first live day, I completely broke every rule imaginable. I traded the entire day (something I never did in the sim) and ended up losing $3,400! Yes, you read that correctly. To add salt to the wound, I was on track to get my account into the green, but held on to a loser and gave most of my winnings back. It sucks, but I haven't thrown in the towel because I know I can do this. Don't let it keep you down. Now, most of my days are green. As long as I keep my red days small, I'll be alright. You will too.