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Showing content with the highest reputation on 09/16/2019 in Posts
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2 pointsSeptember 16, 2019 - 1 Stop, 1 Stop due to market close All I can say is that I am ready for this sample set to be done. Win percentage 41%. Worst yet. Oh well, still have to calculate the % on the equity account with ECN and commissions to see how it turned out, but I know for sure it is way better than I would have been trading the previous way. All day trading today was nice. I did not get anything at the open. I almost went long on $OXY, but it just was not within my setup. I had $OXY, $GM, and $AIMT on watch at the open. I almost went long on $GM on a moving average cross but I got interrupted right as I was planning the entry. I stayed on until around 8:00am and decided to go for a run and come back around 10:30am. By the time I came back, a few stocks $HAL, $WLL, and $SQ all made good moves off of a moving average cross. Let the FOMO begin. I eventually found a good setup on $HAL and $WLL around the exact same time. I choose to go with $HAL and got stopped out because I placed my stop too close to the 50 SMA. A mistake by me, I should have had the stop a few cents higher. I got another entry opportunity shortly afterwards with a valid independent setup. It did a move but it just did not go for the second leg. I stuck it out through a strong pullback that never quite reached my stop, but eventually had to get out as the close was approaching. I end trading around 12:40 no matter what and the price action at that time was right around my entry. Sample Set Results, S 2 3 P 5 6 P G S E E S P P E S G S G S E
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2 points9-16-19 Woke at 7:40 with 6 hours of sleep. SSS and a Coffee. Feeling pretty good..... PAT: Work on proper share size (not as much adding to).......... A lucky week does not make me good.............. Use my playbook on all trades........ Do not take trades with large spreads retaliative to price....... AIMT.......... PB#1 but before the 5min without ABCD confirmation .......... took full share size.......... Yes this is where Andrew called it out but I went short about 1 second before the call out..... I did get out unfortunately prematurely while listening to the chat for a meh +13.00 PB#2 reverse back to VWAP play......Full share size but with a B setup I should have either not taken this trade or reduced share size........ I knew this was going to be a slow mover so I set a stop order for a 1R loss, for some reason it did not trigger and ran down to -66.40 -53.40 CRC........ PB#1 and 2, Target of VWAP with a 2min ORB.............. This seemed after the fact to be more of something I wanted to find and the technical were not there......... Stopped myself out when I realized this .......... -48.00 GM......... NO PLAYBOOK, Bad Trade now in review I do not even know what I was thinking, I believe I was shorting it on the strike news only.... stopped out at VWAP..... -28.00 MU........ A few trades here and still looking for more long entries..... first ....... PB#2 break of VWAP and added in on a pull back to get stopped out...... -63.00 second..... PB#2....... target VWAP then HOD stop below prev 1min candle......... took 3 partials +56.50 then added in two time.... partialed two more times +36.41.... added in again then stopped out -29.24............ third ..... PB#3 (A setup) ......... took full size with stop below the MAs and target 49.95 daily level....... partialed twice then all out at BE..... +57.76 fourth and final trade....... PB#3 (A+ Setup), disappointed in that I did not take full share size here only 2/5....... on the 9MA on the 2min without a low on 5 or 15min, also the MAs are crossing on the 5min... partialed out twice on the way up then moved my target to red to green and my stop to 49.95 as I feel if it breaks below 50.00 the next support will be about 49.80 the 50MA......... +47.60 +100.03 NUGT.........PB#2 (B+) 1/2 share size and will add if it breaks the 50 on the 5min stop is VWAP........... Busted VWAP and the 50 on the 2min........ Missed my add and am now partialing out............ reset my stop at my first partials and got stopped out for +97.06 Back in NUGT for a PB#3 (B+)...... looking for HOD and a tight stop below MAs......... 1/5 share size........ got out at BE because of L2 and T&S........ Probably should have just stuck with my original plan which was not to take anymore trades today but I am still in MU and looking around. I will wait for an A+ setup or nothing at all..... +1.00 +98.06 I said I would only take a trade if I felt like it was an A+ so I did......... WLL ..... PB#3 Trend (A+ setup) full size entry.......... on the 9MA on 1min no new low on 5 or 15min and Harmonious charts..... stop below the 20ma on the 1min but will monitor the 5 and 15 min for price action along with L2 and T&S target is a daily I have marked at 11.48..... 11.20 Seems to be acting as resistance so If I can get back to it I will take some out to lock in some profits..... There are some nice size orders sitting at 11.20 and they just kept getting better pushing me through 11.20 and heading to my target partialing out on the way, I believe this could have been a good add here...... I have now moved my stop loss to BE........ My partials were 50% 1R, 25% 2R, 25% 3R 10% 4R ............ My stop has now moved to +1R..... out 10% 5R ...... 1135 starting to flatten out with a new 5min low again, 15 and 30min still looks good for now..... I will now move the stop to below the 9 on the 5min at apx 3.5R....... 1142 out 10% at 6R ........... my next daily is all the way at 13.45 so I will continue to use Rs (in this case .10) as partials........ 1148 here we go again with a 5min low, still looking for the break of the 9 on the 5min for a stop.... I set a hard stop for 11.48 as I need to go for a bit this would make a new 15min low and below the 9 on 5min, hopefully I come back to a nice runner....... came back to find it hit the stop..... +114.15 Cons: Took a trade on a feeling (GM).......... Took a short on AIMT before the call out and got out on the chat info, I need to stick to my plan (missed over 1.00 move)......... Took a couple B setups...... Pros: getting back on my game for share size but does still need a little work...... Respected my stop loss......... My Favorite Trade of the Day: I picked my WLL trade over the MU and NUGT trades because this one had serious catalyst and the MU, NUGT had some resistance above them. Notes: I am going to start taking my favorite trade of each day (providing I do have a good Trade) and create a separate Playbook that will be more informative for what is working for me..... R + 50.00: +182.84
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2 points16/9/19 okay day today, overtraded a bit in the middle but finished with a nice trade to bring me to b/e. 10 trades: 3 winners (ORB, wedge breakup, pendant breakout) 7 losers (ORB, ABCD, VWAP hold, no setup x 2, pendant breakout, wedge breakup) finished 0.5R down Trade 1: ORB on OXY volume was with the bulls but stopped out. Trade 2: after it rejected VWAP i got back in for a decent trade. Trade 3: i actually stopped out by accident so i got back in after it made an abcd but didnt take any partials so stopped out. Trade 4: after it went through VWAP and held i went short, a descending triangle formed but broke out the other way so i stopped out for a small loss. Trade 5: this was just chopping around VWAP shouldnt have really got in this. # Trade 6: overtrading really... Trade 7: ascending triangle formed near VWAP when AMD had been strong so went long for the pop, it couldnt break the HOD so got out. Trade 8: ascending triangle but was pretty extended allready so didnt have the juice to pop so stopped out. Trade 9: aapl made a pendant at VWAP and it popped but no continuation. Trade 10: OXY was in a long consolidation, it started to break out and i got a great entry, punched through VWAP then started tending up, got out half for a big profit then out the rest below the MAs on the 5.
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2 points16 Sep 2019 I took 2 trades (short on AMIT and long on HAL) 1. AMIT - ORB down at 1 minute chart and I don't have much patience compared to Andrew and start to partial out and took profit. 2. HAL - Saw in both 1 and 5 chart where it is sitting on MAs, serving as support. The trade took off and start partial out to take profit. For both trades, I need to learn to be more patient and to wait it to fall/rise to next important levels.
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1 pointHi, I would need some help on this trade. For this ATUS trade which I took yesterday, I took a long position as I expect the stock to take off when I saw a few confirmations below 1) double bottom at 1 min chart 2) Candles bouncing off at MAs (harmonious charts) I set my stop loss below the MAs and I got a stop out. Did I trade correctly (e.g. saw the correct confirmations, good entry, good stop loss) on this trade? Hope someone can help. Thanks.
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1 pointI have actually forgotten how many 5 day losing streaks I have had since I have gone live. And I have had at least two 10 day losing streaks. What I realize now, it was only small nuisances in trade management causing my losing streak. ROKU always has chopped me up. I see other traders making good trades, but I was just getting chopped. I am still trading ROKU SIM only. Only once I get profitable with a stock I take it live. I am finally getting better with ROKU. But I really needed to watch the spread. Sometimes it explodes without warning and I get a bad entry. Then I usually get wicked out right before it pops/drops in my direction. So I do give it a much larger stop now. Once I was patient enough to wait for the wick out, then I entered the trade. It seems to move after it wicks out the weak handed like myself. Still trading it in SIM but getting better at it. Last year a BBT member wrote up a good analysis on stocks that the "C" in the ABCD pattern can get too tight and it is actually a reverse signal not an ABCD. Though I am terrible at reverses so I have not used that info as an entry signal, it has kept me away from taking some ABCDs that reversed just after I would have entered. Your AIMT trade reminds me of one of those examples. The 5 minute chart was staying in a tight range and the last three 1min candles got REALLY tight. So there is a chance it found very strong support and may reverse back to VWAP enough to stop us out. I will try and look for that post, it was really useful.
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1 pointMonday 16 september Another max loss day having a hard time a this moment. on a 5 day losing streak and feeling like I can't figure this trading thing out. Trades for the day ROKU It opened very strong and made a big bullish move. around 9:37 till 9:40 it dormed a flat top and on the 4th touch of this top I decided to take it long for the break of high of the day. After I got in it dropped and my stop got triggered. After that drop it got bought up back quickly and got back in. It did break the high of the day but it didn't my target which was 152,75. AIMT The trade I played on AIMT was a decending wedge. It was in a clear down trend on all the time frames and took it short on the third touch of the wedge. It wasn't a clear flat bottom wedge so maybe I shouldn't have taken it. After I got in all the shorts got squeezed, including me. This was another max loss day of -3R
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1 pointMonday 9/16/2019 I had a well-being score of 5/10 this morning. Two nights of poor sleep and caffeine withdrawal headache. I took 1 live trade this morning, with AAPL. And 3 SIM trades. So AAPL and BABA were on my market open watchlist with MU, AMD, ROKU and SLB on my 5min ORB watchlist. Yes I am saying the same thing all week about the open: The setup is the same. 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. I had lots of bias on AAPL. I like when AAPL drops >1% in PM then recovers at least ½ of it before the open. It tends to pop up the remaining part of the gap at the open. I also liked the last 5min candle before the open was a nice hammer. So any excuse to long I would take. AAPL quickly created a small hammer and I went long the moment the hammer turned white. PDC was my target and the 200MA-1min was my stop. R/R~2.5 which is perfect. R/R>3 don’t seem to work at the open. I took my first partial at the HOPM/Daily level, but then the price started to stall so I took two more partials before the price dropped. I have been burned lately hold to B/E as the price seems to accelerate through my stop and I turn winners into losers. Since I still had a lot of shares left (43%) I exited when it broke through the daily level. I forgot about my plan to partial half my shares and hold to B/E. In the middle of a trade I always forget I am trying to optimize my exit. The price bounced before my B/E and made it to my target without me. The second trade on the chart above was on SIM. My wellbeing score was low, so I was happy to call it a one trade day. The candle bodies made a nice wedge and I went long on the break to the PDC. I also took 2 SIM trades on BABA and yes I forgot about the spread on the first trade and was chopped up. Then I remembered and took a winning trade. Score card (live trades): AAPL 95% What I did good today: Really good score card. What I am grateful from today? My AAPL long bias was correct. What do I need to improve on: Need to remember my trading plan. Exit only half shares if still not near B/E. And watch the spread on BABA and ROKU.
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1 pointI'm still a bit of a spring chicken (I'm turning 29 next week, so maybe I'm not as young as I like to think I am) but I know from talking with day traders from all walks of life that you'd be surprised with how many of the challenges you will face as a day trader are shared throughout the community. The struggles we deal with on a daily basis are rooted in human psychology, and whether you're 18 or 80, that's something we wll share. That being said, I have no doubt that there are certain challenges the seasoned demographic (as you so eloquently put) will face that some of the younger folks may not initially struggled with. Something that comes to the front of my mind is, naturally, embracing the technology that we utilize. Considering I grew up playing video games, integrating the hotkey muscle memory into my trading was relatively easy and I didn't have to put much thought into it and I can certainly see how others may not have a similar experience. What I may recommend to you is that we do have members of all ages within BBT and you are obviously more than welcome to connect with them and potentially setting up a group within the community! This forum post right here may be the first step! By connecting with members in a similar situation as yourself, you can all share your experiences and help each other, which is what BBT is all about. Once again, we are so happy to have you aboard, and wishing you the best on your journey!
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1 pointMarcel thanks for sending this. Just to clarify for everyone. Marcel setup a phone messaging group that we used for maybe 2 months now, but we are not able to add some phone numbers and we don't know the reasons. It could be some problem with imessage on iphone. Please if you want to join the whatsapp BBT CO group go ahead and shortly introduce yourself so we know who is who. This morning we had a bkfst meeting - Marcel, Brian and me. I really enjoyed it, it was a very lively conversation. We hope more people can join next time.
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1 pointHi Kurt, thanks for the welcome. Yes, I already sent an email with a general question and received an almost instantaneous reply. I am turning 60 this month, and I have been thinking about starting a service similar to BearBulls, with the idea of focusing on serving the "seasoned" demographic. I believe that I can relate to the specific challenges of the curmudgeons among us. However, after seeing what is out there, I knew that there was no way that I could operate like most I have seen, and be able to live with myself. Finding this site changed all that. It may well never come to fruition, but at least I know that it is possible to do it the right way, and be successful. right now, just focusing on the next step, and looking forward to it!
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1 pointAiman - thanks for the response. I look forward to the day when I am consistently profitable enough to afford DAS. Partialling out would definitely help.
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1 pointFriday 9/13/2019 I had a well-being score of 5/10 this morning. My daughter woke me up crying last night at 1:30am, so I am a little sluggish today. It was an interesting day. Centerpoint did send out an email stating they had IT issues yesterday. So I am assuming my order cancellation issue yesterday was due to that. I took 3 (yes 3) live trades this morning, with AAPL and BABA. I hand wrote my plan for today to help stick to it. So AAPL and BABA were on my market open watchlist with MU, AMD, and ROKU on my 5min ORB watchlist. Yes I am saying the same thing all week about the open: The setup is the same. 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. I had no bias on AAPL. I have seen it pop or drop with this same PM action. My premarket plan specifically stated no pullback trades on AAPL in the first minute. So I waited for a hammer. So a very powerful hammer was being formed in the first minute with AAPL. I was waiting for the hammer to become white so I could go long. Or finish the 1min candle and take a 1min ORBU, Then, while there was still a little red left, a large ask appeared about 5 cents above the current price. So I went long. My target was the $221 dollar level with a stop of 219.59 PM level. The price moved up a few cents then quickly dropped and I was S/O where planned. I probably should have been more aggressive with the S/O. Once it was apparent the 2nd 1min candle was not going to make a new high I should have exited. But generally I thought this was a good trade. Yes without the L2 signal it was a B setup. But I think with the L2 signal makes it into an A setup. For my second AAPL trade, AAPL dropped and hit support on the two daily levels. Then started to stall, making a mini ABCD. I really liked the R/R~3 so I shorted with the 218.16 daily level as my target and 219.59 PM level as my stop. The price quickly dropped and I took a small partial. I was hoping this would run so I was not in scalping mode. Then I waited 3 minutes and saw SPY really starting to spike up. So I took another small partial profit. Only took a small partial since the 1min chart the candles were making LH/LLs. Then the price rushed up quickly. I exited when it broke the 219.32 level. There was a bit of a slide, so I think this trade was a loss as well. I didn’t consciously take a third trade. There was no internal fight or revenge, I just didn’t think about rules at all I just took 3 trades. Since they all were overlapping in time it might not have felt like it at the time. I remember taking each trade, but I was surprised to see 3 live trades were taken at the end of the session. BABA was interesting. It dropped for 45 minutes in the PM then only the last 10min it popped back up. The price went higher at the open. Then 25 seconds after the open a HUGE buy order went through: What was interesting is the market really didn’t care and the price started to aggressively drop. So it felt like the sellers were in control if they were ignoring such a large buy. So I took the lack of interest of the huge buy as a bearish signal. I could be very wrong, since I have never used that signal before. There were lots of levels below the current price. But I thought if it could break through them all (all the MAs including the 200MA-1min, VWAP and the 173.02 daily level) I would go short. The price did and I went short. I took half share size since I never used a signal like this before. My target was PDC with my stop at VWAP. I also liked the daily level in the way so it could help pull the price toward it. The price dropped a little, not enough to take a partial. The next 1min candle was an inverted hammer still giving me hope. Then the price made a clear break of VWAP and I got stopped out. If you have any insight on this trade let me know. I am still not sure how wise it was to use the large buy as a bearish signal. Then I over traded in SIM. I am left with a bad feeling about my trading session because of it. Score card (live trades): AAPL AAPL BABA 91% 90% 91% What I did good today: I really like my three live trades I took today. Since they all were losses it has left me wondering if they were really good. What I am grateful from today? I kept my eye on the tape. What do I need to improve on: Take less SIM trades. I think I will lock myself into 3 SIM trades max from now on.
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1 pointI am not an expert in that time frame (actually not an expert in any time frame), so you may take my comments with a few grains of salt. First the good: The price was holding VWAP in multiple time frames. The 1min and 2min charts the candles was creating a pendant. You went long on a white candle You stopped out right where you wanted (that is a skill that took me awhile). What could be better. Of course this is easier to see in hind sight. I would have likely missed them as well. Volume died down Entered the trade in the middle of the end of the pendant. Usually you want to wait for the break of the pendant to know which direction the price will move. Risk to reward seemed low. There were three tech levels above the entry. The first was highly respected on the 1min and 2min chart and one candle on the 5min. The next 2 levels were respected once on the 1min/2min/5min chart. So unsure of your target. If waited for an entry for a clear break of the 28.35 level (by 3 or 4 cents) the strong tech level would have been cleared and the pendant broken. R/R would still not be too good with a target of the 28.44 level with VWAP-5min as your stop. But you could plan to take a partial profit at that level in hopes of reaching the 28.51 level. At least if that was the plan, the trade would not have been taken. Again not an expert. But hopefully you can find some use in my comments. Rob C
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1 pointI’m not there yet but I´d withdraw some profits in a monthly basis, allowing for account growing. You can find in John Carter´s book “Mastering the Trade” the “Plateau Method” of managing day trading accounts. This method works like this: For a $10,000 hypothetical starting account, your initial goal is to run the account up to 2.5 times your starting capital, which is $25,000. When you reach your desired target of $25,000 you withdraw your original $10,000, plus a profit of $2,500, leaving you with a balance of $12,500 in your trading account. Next you tweak your goal, instead of $25,000, your aim is to run your account up to 2.5 times your new starting capital, which equals $31,250. Once you reach your target of $31,250, withdraw half of the account ($15,625) and reset your goal. And so on, when you reach your target, take out half, and continue.