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Showing content with the highest reputation on 08/29/2019 in all areas
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2 pointsThursday August 29th, 2019 Sleep: 7 hours. Mood: good, ready to trade planning on staying away from the first 15 mins this morning. also, i've implemented a new point system for grading trades that will help with keeping me trading setups and is more relevant than my old system: · Is this a setup I trade? Yes +1, No automatic 0 for the trade · Is my stop loss a level of resistance? Yes +1, No +0 · Is my first reward level greater than 2:1? Yes +1, No +0 · Trade management judgement call BUT not respecting stop is auto 0 on the trade. First trade of the day was 5min ABCD in $BURL (3/4). as soon as i got in the trade i saw my stop was way too big because i only got 3 shares so a 3R move would have to be $10 so i said that's unreasonable but 2R is possible so that's what i decided to shoot for. it broke HOTD for a second and made a shooting star on the 5min. got out on the next 5min lower at breakeven minus a little for slippage. GOOD: traded setup, good trade management RFI: stop way too wide, should be 2R to HOTD MOOD: good, glad i got out, it would have wicked me out at a full R loss and went back higher CONSISTENT: yes. Next trade was a MA trend trade on $BOX (3/4). once i saw it was trending up nicely, i waited for a pullback and when it made the doji on the 2min and held the 9MA i got in long. again my stop was too far but better than BURL. partialled 75% at ~2:1 and the last piece once i missed that last attempt to run higher. happy with this trade GOOD: traded setup, got in at resistance, partialled out when it stalled RFI: still too far on the stop. MOOD: good, wish it would have went higher but it was already extended CONSISTENT: yes, managed the trade well. last trade was a 5min bull flag in $BBY (2/4). Saw the 2min engulfing holding the MAs plus it looked like it was going to make a new 5min and 15min high so i got in. it's a weird time for me to trade but i was feeling like trading more and I wasn't particularly busy with anything else. as soon as i got in the volume died and it made a 2min shooting star. moved my stop up to break of the 2min chart 20 MA and new 5min low and got out as planned with new stop. glad i got out early but i was hoping we'd get some volume to the upside and it just died probably because it's lunch time. GOOD: changed plan and got out of the trade early RFI: probably should have just skipped this trade or i could have at least got a better entry MOOD: fine CONSISTENT: yes. What i did good today: trade management What i did bad today: stops too far, probably should have not taken the BBY trade What can i do better tomorrow: gotta work on tighter stops.
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2 pointsThursday 8/29/2019 I had a well-being score of 7/10 this morning. I took 1 live trade with AAPL and 3 SIM trades. So AAPL and TSLA were on my market open watchlist with MU, AMD and BBY on my 5min ORB watchlist. Though I had a long bias on AAPL the price was sitting on a couple of levels with no strong level any where near the opening price. So reistance/support level type trade would not be available. Which is good since AAPL has been burning me with those setups this week. So I planned only to take an AAPL trade with a hammer. A hammer was formed and I went long. The target was the 209 level which was also the PM high and stop was the 208.57 level. I knew, with slide, that my entry would be less than 2 for the R/R, but I was OK with that. I seem to do better if a tech level is closer. The price went in my favor quickly. I did take a lot of partials but the 1st 3 were small. The 4th partial was the first substantial one. I got two more partials then the small amount of shares I exited when the price broke VWAP. I took three SIM trades. One a winner with BBY short. Then two SIM trades with TSLA. First one I was S/O but the second one was a big winner. Score Card (live trade) AAPL 92% What I did good today: Traded with out P/L. I won’t look at it until EOM. What I am grateful from today? Good trading day, both live and SIM. What do I need to improve on: No more P/L. Just focus on the score card.
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2 points8-29-19 4 hours sleep. This is my most groggy day of the week as it is the 4th day with about 4 hours sleep. Depending on how this day goes I may start joining late on Thursdays. SSS and a coffee. PAT: Do Not over trade and Do Not take trades without a clear path. Stick to the Playbook...... Do Not get out of a position without good cause on the 5min at least...... I do have an appointment today that I will have to leave for earlier than usual..... ANF ORB on pullback on 5min with ABCD on 2min, Stopped out at VWAP but ended up spiking so my stop was not as bad....... (13.00) NTNX 3 trades..... Too many trades and ended up getting pretty much chopped up...... Got out with a profit only with luck and no skill...... first was ABCD Small share size and added to it ...... I got stopped out on (Happy with this trade) second was the same ABCD same small size but with harder evidence, partial at the top added at a pullback but let it run into a looser instead of getting out at BE (Happy with the entry but not with my trade management).... third was more revenge... the only thing I did that I liked was put a limit order on it and walked away from the trade.... AND I got LUCKY..... +46.00 BOX Took this from my Playbook #3 thanks to @WilliamH (pullback to 9ema on 2min without a new low on the 15min after a clear direction) My continued problem with my trading is that I feel like I mismanage the partials and my stop... The first partial was too big so I went ahead and scaled back in (mistake #1), I feel like I should have never scaled back in as it just raised my avg. and it was no longer showing buying power costing me about 37.50 ..... I then on a big pullback on the 2min and a new 5min low I partialed 50% then all out right after that (I am not sure if this is mistake #2)...... Overall I am happy with this trade. +159.48 Cons: Did some Revenge trading on NTNX.... Still unsure of my partials and exits on the BOX Pros: I followed all my rules up until the one revenge trade..... Made sure I had good setups and respected my stop loss..... R = 50.00: +192.48 I do need to start posting this here also before I go into SIM of SIM mode and do stupid things.... LOL Any future trades will be SIM of SIM
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1 pointI took a very similar BOX trade.... worked out nicely..... I like your stops, maybe adjust share size a little smaller when the stop is further away...... I have worked on this the last two weeks and are getting close to just knowing right away how much to take... Have a great night and have a fun green day tomorrow...
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1 point29/8/19 got a bit drunk last night so not feeling my best. pretty bad day, not too sure what happened think im just hungover. nope i didnt take good setups, was too keen today ill get a good sleep tonight and refresh. 9 trades: 1 winner (descending triangle/triple top reversal) 2 break even (ascending triangle x 2) 6 losers (ORB, ABCD, no setup x 4) Trade 1: 5 min ORB on ANF entry on a pullback, no luck. gonna try pay more attention to the level 2 for ORBS which ive been practising today after the open. Trade 2: looked like an ABCD on the 1 and also a slight ascending triangle but went against me. Trade 3: again kinda ABCD/ ascending triangle, got 1 partial then out at b/e Trade 4: no idea really what i was thinking here. Trade 5: descending wedge but not really, terrible entry as was on SSR. bad trade. Trade 6: think i was chasing a trend trade here, bad again. Trade 7: ascending triangle which made a good pop but didnt have the juice to carry on. Trade 8: This was the only good trade of the day, descending triangle at the top of an uptrend which sent the stock all the way down to where it opened, i got out too soon though when it started making higher highs and lows on the 5. still a nice profit.
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1 pointNice Trades. I like your $LCI trade, because the setup was perfect, hammer on 2min, it also created a bullish engulfing candle on 1min. Your entry was perfect too at the end of the wick and you stopped out as per plan. Like everything about this trade. On the $AMD trade, I would have easily missed that spinning top, but you were spot on. The spinning top (or an inverted hammer, but it doesn't matter) is actually a sign for reversal, so other traders might have traded it for long with the stop at LOTD. Also, the lower wick on the 2min candles indicates buying pressure. But it's easy on hindsight and I would have taken it for short too at that moment and played it as VWAP pullback Short. Just my 2 cents, for what it''s worth. Stay Green!
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1 point28/8/19 had a much needed long sleep last night so feeling better today. Also configured Kyles risk per trade hotkey last night which i think will help me massively managing my share size, i wanted to be able to do it by myself but i think that can be a later goal when im more competent with other aspects of trading. Had a pretty interesting day. started really bad and hit max loss. carried on because want the experience and didnt feel too messed up psychologically. had a really good last trade of the day that i was in with norm kurt and aiman although i did get in it without them prompting me too, then went and did thor and aimans workshop about triangles which is what ive been most successful with recently and came to realise... im not gonna be an andrew type trader, Thors way just makes so much more sense to me and doesnt make me lose loads at the open, so from now on im going to have 1 try at an ORB then wait at least 15 minutes until i trade. once ive mastered some simple patterns ill come back to the open. and another thing ive realised i dont really make any real attempt to read level 2 or time and sales while im trading, which im now going to focus on learning. so not a great day trading but made some really good realisations about myself and trading style, and have gained some direction with my progression. trades 11: 3 winners (descending triangle breakup, pendant breakup, ascending triangle breakup) 8 losers (ORB, bearish engulfing, ABCD x 3, VWAP bounce, pendant breakdown x 2) Trade 1: all volume looked bearish so went for the ORB but stopped out. Trade 2:went for the bullish engulfing pattern but again just nothing going my way. Trade 3: this looked like an ABCD with a daily support level. went long but stopped out at b/e when it didnt crack HOD and started to dump. Trade 4: ADSK was really strong, looked like it rejected VWAP so went long but setup wasnt ready yet. Trade 5: took this pullback on ROKU when it was kinda extended already and stopped out Trade 6: traded a pendant on TIF, thought it broke out the bottom but id didnt so stopped out, then when it broke out the top i took it for a nice trade up. Trade 7: ascending triangle on roku got a nice pop then out at b/e Trade 8: this was an ABCD but the pop wasnt there so stopped out. Trade 9: drew this weird pendant but turned out to just be a long consolidation phase. Trade 10: Triangle on ADSK, it broke out the top with volume and was already so strong so went long for a huge trade making back all my losses and then some.
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1 pointHi Kelly, You do not have to pay for both, when you get Das Trader Pro with IB or any other broker. It comes with a demo account as well. That is included in your monthly fee, you will only be paying $150. It is also very easy to switch from Live to Demo with Das Trader Pro. There is one login only but once you log in you have several options to switch from Real and Sim, you can do it manually on the montage, you can define it by hotkeys or you can change the overall global setting to Real or Sim. This post has more information on how to switch between sim and real. Hope this helps. Thanks.