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2 points9-11-19 woke at 7:50, was very sleepy with about 5 hours sleep, feeling a little groggy...... SSS and a coffee..... PAT: Work on proper share size for the size of my account (my future cash)............ Pay close attention to my Stickies and PB...... MU.... PB#2...... VWAP..... first.......had strength in going through VWAP and above all averages on 1 and 2min..... took 1/2 size and added in once it busted through..... took profits on the way up and all out on a pullback as I only had about 10% left of my position...... my stop was tight below VWAP and target was scalping at 2/1 and more..... +59.00 second.... on 5 min ORB and on a pull back entered 1/4 size and added 1/4 more three times on a little more pull back all holding VWAP...... again stop was tight at below VWAP and target was HOD... took profits on the way up and am still holding on to 102 shares at 1017 with a hard stop at 50.78 as I journal (learned my lesson for the final time yesterday)...... I am still looking for 51.52 which is a daily that I have marked....... It is testing my hard stop, We will see..... stopped at 1022..... +103.39 Do want to mention that both of these entries were a few seconds before Andrew called them out....... +162.39 CDLX...... PB#1....... This was not an A setup so I went in with 1/2 size...... The spread was bad and I took it anyway and once it went to my stop I not only got a bad entry but a bad exit making this one terrible trade...... -76.00 second trade...... PB#3...... missed the move so I had to wait for my r/r to make sense for below VWAP and HOD and beyond.... this was at best a B+ setup so I only took 1/4 share size here (maybe should have went with 1/2).... I also waited for the spread to make sense....... I took 50% off at 1r and I will continue with very small partials from here on out with a hard stop at BE........ 1134 I am now moving my stop to below the 20ma and at a daily level of 35.74...... 1215, it is bumping the 200ma on the 5min, will need to see if it will stay below then I may exit early but if it breaks it on multiple 5min candles I will look for an add..... Had to step away for a bit and it hit the hard stop I had placed..... +42.00 -34.00 AMAT from turbo scanner...... PB#3.......... another B set up with 1/4 size....... set a hard stop while I was looking for other setups and got stopped out at below the 9ma..... Looking at it now I maybe should have moved my stop to below the 20ma as this would be a normal pull back and it may have worked out.... -10.00 second, trying again...... little better entry with 1/4 size again..... again set a hard stop but this time below the 20ma....... This has worked out so far with a partial and now holding onto it for either a big run or my hard stop of BE...... I had to leave for a bit and took a 50% partial and moved hard stop up a bit which was a mistake as it hit it and moved way up..... Not too sad as I did have a very small position in it..... +12.00 +2.00 Cons: I took a trade knowingly with terrible spread..... took the same trade with a not so great entry with 1/2 size instead of 1/4 size...... Pros: Held to my stop losses..... Felt great about the MU scalps from start to finish...... Have been looking for fresh news and stocks with scanners and news..... R = 50.00: +130.39
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2 pointsWednesday 9/11/2019 I had a well-being score of 5.5/10 this morning. Having caffeine withdrawal issues. I took 1 live trade this morning, with AAPL. So AAPL and BABA were on my market open watchlist with MU, AMD, ROKU and PLAY on my 5min ORB watchlist. The daily charts on both AAPL and BABA still looks interesting, maybe on the verge of a break out. I watched AAPL and BABA at the open. Same thing happen, the volume immediately arrived for AAPL and as usual not BABA so I was highly focusing on AAPL. I was long biased on AAPL. The scenario I was hoping for was a slight pull back then a hammer would be created and I would go long when it broke the 218.16 level. That price was really respecting in the premarket. And this scenario did occur. But while I was waiting for it to unfold a big ask appeared in the L2 and I immediately went long. I still can’t believe how fast I took the trade. Sorry if it sounds like I am boasting, but I am really proud of myself. I keep watching the video. I guess you can really train your brain like a muscle. Now after almost 1 year live I guess my brain is starting to function more efficiently. Within one or two clicks of the clock, the big ask appeared, I saw it and recognized it as a go signal, I decided to take the trade, I recalculated my share size based on the better entry (something I messed up on recently) and pressed the correct buy button. Holy smokes!! So I went long on the ask signal with 219 as my target (very few levels above current price now). With 217.50 as my stop, which was respected in premarket. I mentioned yesterday that I shouldn’t use the new 1/8 partial on these opening trades since they are more like scalps. But when the price reached the first tech level, this was the entry I was originally looking for. So why take a substantial partial on a candle that looks like an entry? So I did take a couple of rapid fire 1/8 share size partials. Still too many but now less damaging. I took my first big partial at 218.75. I did take a couple more partials after but I didn’t have too many shares left. I don’t look at my P/L, but eyeballing the trade it looks like I made my 2R. I then took 4 SIM trades. Two on BABA. First one I forgot about the spread and only broke even. Then I watch the spread closer and made a small profit on the second trade. Then I took 2 SIM trades with ROKU and immediately forgot that ROKU’s spread and price action is even more volatile than BABA. I took a short without looking at the spread (with too tight of a stop) and got a horrible fill so I immediately got out with another horrible fill. I was -3R in seconds, wow. Then I carefully watched the spread and took another short with a good run, but likely my profit was less than -3R. So definitely need more SIM time on ROKU. Score card (live trade): AAPL 93% What I did good today: I really like the quick entry decision on AAPL What I am grateful from today? That my ROKU trade was on SIM not live. What do I need to improve on: Keep working on the 1/8 sell/cover button usage.
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2 pointsFirst day is always hard and if it is not it can defiantly do some damage even though you may not think so. Just ask William H. What was the % of your lost to your equity account? That is the number you truly want to focus on, keep it below 1-2% and you will survive.
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2 pointsSeptember 10, 2019 - Short day Pretty quiet day for me as I did not want to force a trade anywhere. I had $T, $CTRP, and $WEN on the watch list. I would call today a day to take a position in the opposite direction of the 5 minute candle. I think only $ROKU gave a good Opening Range setup. Everything else was momentum or taking a position before or after the cross of VWAP. I almost got into $WEN short around the 9:45 mark but the 5 minute was way to choppy and the 15 minute candle was white and above VWAP. Not a good indicator to take it short. It was a good day for anyone trading engulfing patterns though. I switched over to my afternoon station for about 15 minutes before having to leave for work. There was a nice setup on $ACAD, but it happened before I switched over so I missed the entry. Oh well better luck tomorrow. I am trading for a good solid hour in the morning before having to go to work. I am hoping to find something to trade.
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1 point11/9/19 missed the last couple of days as im not feeling well. pretty mixed day ending in the red, think im overtrading and my head is killing me by the end of today so gonna keep this brief as possible 16 trades. Trade 1: ORB on MU but wasnt ready. Trade 2: got in again when it came above VWAP for a nice trade. Trade 3:MU couldnt make new highs and had a support line to form a wedge but broke out the other way. Trade 4:ROKU broke through VWAP and held, went long for a nice trade, tried to add at a consolidation but stopped out. Trade 5: MU couldnt break the wedge again. Trade 6: tried to get in again and it popped but with no juice. Trade 7: pendant breakout, i stopped out just before it did breakout, shouldve made my stop further away. Trade 8: trend trade on MU/reverse ABCD, got 1 partial then out at b/e Trade 9: trend trade on AAPL, added on another pullback. got a partial then tried to add again, shoulve waited for confirmation on that last add, then stopped out. Trade 10: the double shooting star on the 5 made me think reversal but didnt work out. Trade 11: trend trade which went my way, i added then by mistake added LOADs so panicked and got out pretty swiftly. Trade 12: this felt like a pendant breakout but no luck Trade 13: another pendant breakout which worked, got a partial then tried to add when i saw a triangle forming at the top but it went the other way. Trade 14: tried to get into the trend on MU, made a double top so i switched positions but stopped out annoyingly before it made the move up. Trade 16: trend trade again and then left my comp with a stop set and came back to being stopped out.
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1 pointWednesday September 11th, 2019 Sleep: 7 hours. Mood: good, ready to trade. Missed the really nice ABCD in MU earlier in the day because i was not at my computer. i was watching it right after 10 for a drop below VWAP, then a pullback that i could take to the short side. every new 5min low was being bought back up and it was moving sideways between two MAs on the 2min chart. i was watching it thinking there's no trend or setup here so i should just wait for a trend and then it made a new 2min high on volume (not great) with the time and sales all green and like a moth to the flame i jumped in on the long side no setup (0.4). got sold the high of that candle and then i got out right above my stop. guess i could have held for a bounce to get out more favorably but i respected my stop. GOOD: got out at stop RFI: no setup or trend MOOD: ok CONSISTENT: no setup. last trade of the day was a MA trend trade in ZS (3/4). ZS was trending down nicely. i see this move a lot when a stock will rally on decent volume to the 20 MA on the 5min then head lower. i waited for the new 5min low on the doji and got in short. i set a range order because i had to leave my desk so i would have got out a little earlier than i did but it was stilla -1R trade. i'm happy with this trade, the only thing that gave me pause was that descending triangle breaking the LOTD got bought back up. but i'd still give this setup a B+ happy with the trade. GOOD: setup, R/R, stop loss level RFI: watch all your trades or don't take them MOOD: good CONSISTENT: yes What i did good today: took one setup that i was confident in What i did bad today: jumped in on MU without a clear trend or setup What can i do better tomorrow: My goal for trading tomorrow is to only trade my setups. if i take two trades and they're both setups and they don't work i'll still be happy that i was able to take trades that i'm proud of regardless of outcome. i'm not sure what happened in my thinking that started me down this road of taking trades based on flimsy ideas but it has been tearing me up on my P&L last two or three weeks. thankfully i have small risk and i stick to my stops religiously so the actual money lost is inconsequential. What bothers me is that i'm still having elementary issues like not trading setups but i know it's all part of the learning process and it takes time. hope everyone had a green day!
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1 pointAbout 4%. I will lower the risk today. Thank you for your words Mike. Let's hope for a good day!
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1 pointI feel you. the opening range breakouts are not producing good results now. I stopped trading the 5 min Orb until I start seeing the continuation on them. Today it seemed all the 1st 5 minute candles got engulfed.
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1 pointHey Traders, My name is Bryan Naranjo, I am 30 years Old and from Winder, GA. I am a very new trader with only 8 months of practice. I was first introduce to stocks over 15 years ago but never had the capacity nor the time to get into trading. It took until this year and the Day Trading Book by Andrew to get me interested in learning from day trading. I done everything from practicing think or swim, using RobinHood, to moving to using DAS for support. I made the same beginner mentallity to think i was able to trade live in june and that failed miserably. Now i spend all my time now learning on simulator before I go live again. I'm looking forward to talking to other traders so we can continue to succeed and build a career.
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1 pointTuesday September 10th, 2019 Sleep: 7.5 hours. Mood: good ready to trade. First trade was a wedge on CTRP (2/4). as soon as i got in, i realized i chase it and then i got out before my stop. also didn't have a profit target that made sense. GOOD: got out before stop RFI: chased the entry MOOD: ok CONSISTENT: yes it held all those levels and looked like it was going higher so i got in long again. realized i made the same mistake and got out around my stop (0/4). GOOD: got out RFI: don't take the same trade again unless it gives a clear signal MOOD: angry for taking the same trade again. CONSISTENT: got out at stop i was pretty frustrated with myself, looking at pretty much 2R loss 10 minutes in to the trading day, wishing i was in SIM and not live. looked down at my trade log and noticed i was in sim! forgot i switched my montage over to sim yesterday. it became clear that this was turning in to a descending wedge in CTRP (3/4) so i got in on the short side risking a new 2min high. bought 75% at about 2R, which was a mistake, i meant to buy 25%. then another piece at 3R, one bad buy seconds before another down move. got all out at the moving averages on the daily. GOOD: setup, R/R, risk level RFI: selling MOOD: good CONSISTENT: yes. What i did good today: took a nice short when i saw the long wasn't working What i did bad today: still FOMO trying breakouts that aren't working What can i do better tomorrow: take better setups.
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1 pointTuesday 9/10/2019 I had a well-being score of 6.5/10 this morning. I took 2 live trades this morning, both with AAPL. So AAPL and BABA were on my market open watchlist with MU, AMD, ROKU and F on my 5min ORB watchlist. The daily charts on both AAPL and BABA looks interesting, maybe on the verge of a break out. I watched AAPL and BABA at the open. The volume immediately arrived for AAPL and as usual not BABA so I was highly focusing on AAPL. AAPL made a strong solid white candle with volume and was threatening to go red to green. The price didn’t bounce off the PDC but hovered below it. I really liked the strong tech levels 30 cents above it that would pull the price toward it so I went long before the PDC break. My target was the 214.91 daily level and my stop the 200MA-1min. But realistically the 214.45 level was really strong and I knew it could bounce hard from it. But because it was so strong I was confident I would reach it. So the trade looks good so far but this is where I made the mistake. Today was the first day I have access to a low partial shares button (1/8 shares). I tested on SIM yesterday and today is the first day I could use it live. I guess I was too gung-ho to use it. It was good I used it on my first partial which is taken off of nerves. But my second partial (at the 214.45 level) should be heavy, at least half my shares. But I just instinctively took another 1/8. The price did bounce hard from the level and I stopped out below VWAP. Sadly for a small loss due to my small partial. The price quickly bounced on volume with an ABCD setup and the same red to green. I went long again with the same target and stop. This time I would partial heavy at the 214.45 level. I did get a small partial in but the price reversed. I then noticed SPY was really dropping so I got out when it broke VWAP for a small loss. I then took 1 SIM trade. AAPL was setting up for nice short with a reverse hammer and SPY dropping. But by the time I switched to SIM, I thought I was chasing it, which I wasn’t since it fell hard. But, BABA¸ was still setting up. The 1min chart had a really nice ABCD setup and the 5min chart had a 5min ORB setup. I first only shorted half shares since the price was still well below the 1min VWAP and may retrace to there. It did and I shorted with my other half of my shares. Then BABA fell 7R. The 1/8 partials really helped on this trade. On Friday I caught a 8R drop on BABA and only made a painful 1R. Here I made 4R on a 7R move. Much happier. Though I didn’t look at my live trade P/L I need look at my demo account so I could immediate critique my trade. That’s how I know I made 4R. Score card (live trades): AAPL AAPL 89% 93% What I did good today: Stopped out early and was correct to do so. What I am grateful from today? Took a really good SIM trade helping my confidence. What do I need to improve on: Now that the newness of the 1/8 sell/cover button is over I can use it more appropriately.
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1 pointSeptember 10th 2019 Trades of the day The first trade of the day was on $F. The first minute the market was open it made a strong bullish move. after that one minute it dropped below VWAP and the moving averages. It formed a flat bottom and on the third touch of the flat bottom I went short with a stoploss above the 9 and 20 EMA. The stock had not a high ATR so I think I shouldn't have traded it. when it came back to my entry point it squeezed and had to cover at a higher price than my original stop was. The second trade was on $ACAD. This stock had a very strong open. At some point I saw it forming a kind of a wedge and went long with a stoploss below the 9 EMA. my target was the daily level at 41.28. I had set a limit order on 41.27 and unfortunately it didn't touch it by a penny. After it came to this level it dropped significant and decided to get out at B/E. My third trade was on $ROKU. It was forming a wedge below VWAP and all the moving averages. It was downtrending on every time frame, but unfortunately it did'nt work out. Although I am still glad I took this trade. My fourth trade was on $AAPL. Not so happy with this trade. It was not froming a really clear wedge and there was alot of resistance to break through on all the time frames. It did a false VWAP breakdown so I thought it might continue to the upside. The last trade was again on $ROKU. Not the best setup, but also not too bad. It was on a downtrend on the 15 minute chart. on the 5 minute chart was not a clear trend visible. It made a small descending wedge on the 1 minute chart and took it short. It made a small drop but then quickly got bought back up and got me stopped out. I ended the day with -3R and stopped trading, because this is a rule I have. This day could have been better. Every trade was a loser, although I am not unhappy with all trades. the first trade on ROKU and the trade on ACAD were good setups. The other trades were not A+ setups for me, so not to happy with those ones. Working on taking more clear setups tomorrow.
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1 point9-10-19 Woke at 7:40, 4 hours of sleep, a little groggy.... SSS, making some coffee and I will do a little exercise before I begin........ PAT: If I have a good entry for a pre 5min trade I will take it...... Trade less in the late morning..... Start readjusting my share size according to my strategy for full entries and a % depending on the strength of the setup.... Over traded the morning and here I am to take a break..... And now that I look at my P&L, I made a very bad mistake on ACAD below, loosing more than my max loss in one trade...... ACAD......... I didn't remember taking this trade, must have hit my hot button on accident. as soon as I realized it I got out but probably should have paid attention to the action as it would have been a good entry for a great Win..... -185.00 CRWD.......... PB#1......... took a few scalps with full share sizes first two were 10min ORBs third was a 30min ORB full share size and this is where I started my journal... I missed my stop loss on the drop of the 1006 candle but it was shooting back up with lots of green on the tape so instead I added another full position and this time set up hard stops which It hit at my 2r...... THE BAD was My r/r was 1/1 on the first and second and 1.5/1 on the third +786.00 CTRP........ talked myself into PB#1 but it was FOMO........... I was mad at myself for not taking the trade at the 1min ORB and took these two trades out of FOMO..... -229.00 TVIX........ one more mistake...... not in Playbook and was only taken because SPY was dumping........ Yet another mistake........ I did acknowledge this and exited it right away..... -25.00 Back after a break and to work on our other business, I also did a little stretching and meditation..... MDP from Turbo scanner..... PB#3, This was not a perfect entry and I didnt think I would get back to the 9ma anytime soon so I went long after reading the news on this... on 9-5-19 there is a class action lawsuit against them and the price gaped down from 44.00 to 41.00 and all the way down to 31.00 a All Time Low at end of day, the next two trading days showed strength and today the price action is heading back up with strength...... I took full share size with a stop at the 9ma and a target of a daily 37.49..... I was back and forth so I set a hard stop...... I came back about 1125 to find the 5min was full of indecision so I took off 50% after the 5min had a new low.... and asll out on the 5min break of the 9ma..... My realized R/R on this was 3.5/1 I believe I needed a mental break from the lack of sleep..... This is the only trade I actually felt good about..... +310.00 I really need to close down but I feel like I will miss out on knowledge...... I will force myself and come back to the forum after the day is over..... Cons: made two FOMO trades......... one mistake on the keys........ one mistake by leaving a trade without a hard stop....... and the TVIX trade without a plan or setup.......... bad r/r ratios...... Pros: Did get out of both trades that were mistakes right away......... did get back to my Scalping strategy with full share sizes........ Notes: I feel more at ease trading with full share sizes and not having to look for reentries to add on so that my Rs make sense to me.......... maybe when I feel sleepy in the AM I should do my morning research and return after another couple hours of sleep or just sleep in and get up for a later session....... Focus on better r/r and share sizes........ R = 50.00: +657.00
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1 pointfeel you on the frustration today Mike