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2 pointsDay 5 in sim I have not been keeping up with my journaling, mostly because I am spending so much of my time learning. I have had mostly losses in my first week of sim trading, but I am learning so much. Today was actually my first green day. Hurrah! In addition to all of the things I am learning in the chat and trade reviews, I am having the real advantage of getting to know what I don't know. After several tries and fails at catching a good trend trade, I got amazing input about studying price action, volume and T&S. Alastair recommended this video and it really helped. I am posting here as a reminder to myself. www.youtube.com/watch?v=BqCSHYpMxTI I had a few good moves today - the market has been waiting all week for the Fed announcement and so things have been unpredictable. Today my first set of trades came after 2PM with the Fed talks. I have the next one on my calendar to see if I can do this again. I noticed that after the morning volume died down, both DUST and NUGT were forming a triangle or pennant pattern of some sort -- same pattern mirrors of one another as they always are. I thought that when the Fed announcement kicked in, and the market responded, they would break one way and the other. I would pick the one going long and then use the other things I am learning to make my trades. Used price action, T&S, and lots of MA's and did really pretty well. I traded mostly DUST, since it was the winner. I took a trade on NUGT too -- I closed out my second right away so I could pay attention to the chat room. After NUGT /DUST wave of activity moved out of my comfort level, I looked for another opportunity since I thought some of the selling off from earlier in the day might bring a reversal. I saw AAPL on my watch list (as always) moved from red to green. When I looked I saw bullish candlesticks, price had crossed VWAP and 9 had crossed 20 on several time frames. Harmonious chart with support below on 2, 5 and 15, little to no resistance above. I was happy with this trade. What I did not do well was come in with a plan for my RR or share size, or any of that, but I have to practice one thing at a time before I put them all together What I did not do well was come in with a plan for my RR or share size, or any of that, but I have to practice one thing at a time before I put them all together NEXT: 1.Learn how to submit my trades for review with the format provided. 2.Find a better journaling tool (not tradervue) 3. Study more on T&S and set my parameters correctly. 4. Set levels before market open
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1 pointI was getting burnt while taking the conventional ORBs at the open. It affected my pshychology when my first trade of the morning fails, even when I think the setup was perfect. For e.g, A beautiful strong 1min open candle on $TIGR below, with no wicks, I went Long and got stopped out. If my first trade fails then it becomes a catchup to overcome the losses and then achieve the daily goal, and my pshychology gets messedup. I found some ways to narrow the ORB setup down to a level which offers high accuracy and would like to share this strategy "Pullback ORB with Breakout Entry"|. I have tried this out for the last couple of months and it has worked very well so far. The reason for this setup: I wanted a high accuracy setup at the open. I don't like overtrading, I prefer one and done, if possible. I am time constrained during the day. I can trade only at the open for 30-40 mins. And I am not good at Trading reversals. About the setup: This Pullback ORB-Breakout Entry works very well with @WilliamH Harmonious Charts. Step 1: At the premarket, find a Harmonious setup, where the price action is above (or below) all the MAs on multiple timeframes 1, 2, 5, 15, 30, 60min and Daily (most of them, if not all). I prefer when the Harmonious chart is also ATH/ATL (All time High or Alltime Low) Step 2. Pullback candle: At the open, Watch the 1min chart for the first 2 mins. Check if the 2nd candle is a Pullback Candle. Then it is an Alert. E.g Below. Step 3: Breakout Entry: Wait for the 3rd candle to break the previous 2 candles high (only bodies, no wicks) and take an entry. E.g Below. Step 4. Profit Targets: This is usually high RR setups, some times as high as 3-4 RR and a good candidate for riding till close. Step 5. This pattern/Setup works as good when it occurs on 2min or 5min timeframes too. If step 2 doesn't occur on 1 min chart, switch to 2min chart and watch for the pullback candle on 2nd 2min candle. Continue Steps 2-4. If it doesn't occur on 2 min, switch to 5min chart and continue steps 2-4. P.S: Harmonious charts - Sometimes you may find higher timeframes as Harmonious and smaller timeframes not harmonious, Wait for the open to see if the price action becomes Harmonious on these smaller timeframes too. Contrary to other setups, this setup works well when it appears on smaller timeframes. Eventhough it may appear on 15 or 30 mins, the setup may not provide high RRs. These are not rare setups, they occur almost everyday on common stocks like $FB, $AMD, $MU, $UBER, $TSLA etc., At the open, I watch 6-7 stocks for this setup and switch from 1min to 2min and then to 5min. Please let me know if there are any questions.
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1 point18/9/19 okay day again today, similar to yesterday with 7 small losers and 1 big winner at the end bringing me to b/e. 9 trades : 1 winner (VWAP hold) 8 losers (ORB, Trade 1: 5 min ORB waited more patiently than usual for a good sized pullback and confirmation but still no dice. Trade 2: saw a double hammer on the 5 min chart so went long for a reversal but roku was too weak today. Trade 3: looked like an ascending triangle pressed against resistance but didnt have the juice and rejected VWAP. Trade 4: ascending triangle again but had no pop. Trade 5: this broke through VWAP strongly and then help so i went long but it lost it with a vengeance so stopped out. Trade 7: reversals are not my forte i must say. double top, big rejection on the 1 min so went long, stopped out. Trade 8: looked like it was breaking out of this pendant with some volume but just could no break 149.75, mustve been a hidden seller there... eventually it broke down. Trade 9: strong rejection at LOD, came above VWAP and held so i went long, it came back tested again and had a strong rejection so i added and then rode it up to the HOD partialling at resistance levels. this made up all my lossed pretty much. same good trade as yesterday. this is my first A1 setup.
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1 pointToday got a little bit late home from work. But it didn’t got me stressed and prepared well for trading. Trades OSTK The stock was gapping down on the daily chart. In the first minutes of the opening it formed a flat bottom on the 1 minute chart. I saw it was down trending on all the time frames and under all the moving averages (harmonious chart). I got in when the 5 minute opening range breakdown occurred. On the way down it found another flat wedge bottom. I wanted to partial but got accidently got all out. At the time I saw it was forming another wedge I re-entered and took a partial at the daily level of 16. The rest I got out at a squeeze above break down. This was a awesome setup. This moves should happen every day. MU trade 1 Tis trade was a descending wedge play in combination with a 10 minute ORBD. I did partial early in this trade (not even 1:1). Because it had already made a big move. My original target was the daily level at 49.93 but it never touched it and got out above the 20 EMA on the 1 minute chart. MU trade 2 At this point I saw that MU was down trending on the 1, 5 and 15 minute chart. I got in at the second touch of the wedge (should have been the third). It dropped a little bit but got bought up quickly after the drops. I didn’t like the price action and got out at break even. CHWY CHWY gapped down on the daily chart. On the 1 minute it did a false VWAP breakout. On the 5 minute it did kind of a reversed ABCD. And it was forming a descending wedge below VWAP and all the moving averages. I was happy with this trade, but it unfortunately didn’t work out. ADBE This wasn’t a wedge play. It looked like a false VWAP breakout. The stock also engulfed on the 5 minute. I decided to take it short below VWAP and under all the ma’s. my target here was LOD and my stop was the break of VWAP and the 20 EMA. ROKU ROKU was making a reversed ABCD on the 15 minute chart. On the 1 minute it made a descending wedge and on the 5 minute it had started a downtrend. My entry was at the flat bottom of the wedge, wich was also a new 5 minute and 15 minute new low. After a couple minutes it made a huge drop and covered along the way down. This was a great setup. Today I ended at daily goal. My winning trades on OSTK an ROKU were awesome plays. I managed my risk well on the other trades which got at +3R. Finally after a 6 day losing streak a good day in the books.
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1 pointWednesday 9/18/2019 I had a well-being score of 7/10 this morning. I took 2 live trades this morning, with AAPL and BABA. So AAPL and BABA were on my market open watchlist with MU, AMD, ROKU and FDX on my 2-5min 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 a small long bias on AAPL since it commonly has a ~60 cent pop at the open when it has some positive movement in the last hour of PM. AAPL opened above all the support levels and I was waiting for the hammer to form. I tried to go long the moment it turned white, but I saw the pop just after I clicked buy. The order delay cost me about 10 cents, but that’s OK. I already assume that slide and already added 10 cents into my stop when I calculated the share size. My target was the 222.39 daily level with the 200MA-1min as my stop. But the R/R ~3 which I know is a bit unrealistic at the open. But I like the strong levels just above my entry to help pull the price up. The price reversed immediately after I took the trade. But for 3 minutes the price held to a really strong support level above the 200MA-1min. Too bad I have a no add rule to my live trades, because that looked like a great ABCD setup. The price finally started to move up and I took very small partials at the first two levels HOPM and the 221.51 daily level. After that I tried just partialing at the 1min highs until I ran out of shares. BABA actually got volume at the open, but a lot of it was one big buy. I liked the first 1min indecision candle with good volume. I liked all the support levels were already below the price. I tried to go long when the 2nd 1min candle broke above the wick of the first candle, but I got a lot of slippage. But again this is OK I already assumed that in my share size calculation and went long with a 50 cent stop, knowing there would be some slippage. So my target was 180.41 daily level with PDC as my stop. My first partial was very small because it was out of nerves. My second partial profit was larger since it reached my first partial profit target. Then I took another small partial because I was losing faith in the trade. Exit was tricky because the price found support just above my B/E. So I want to make sure I don’t miss the bounce from support but I don’t want the price to fly through my B/E (like yesterday) and turn a small win into a losing trade. Looks like I exited OK for a small win. Score card (live trades): AAPL BABA 91% 91% What I did good today: Good score cards What I am grateful from today? Managed two trades at once at the open. What do I need to improve on: Getting better at the partialing, but need to get use to keep partialing as you lose faith in the trade. I seem to always want to take partial profit only on a new high.
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1 point18 Sep 2019 I told myself not to overtrade and only take trades which are considered good RR. I took 2 trades on CHWY - On 5 min chart, I SHORT and thinking it is a WWAP reversal. However it went into consolidation mode and didn't break down to the low of day. So I decided to exit with a small profit. - On 5 min chart again, I LONG this time where I saw it sitting on WWAP. Some goes the 1 and 2 min chart. I could have let it run but really FOMO and I exit the trade and took profit. OSTK - When I saw that all charts are harmonious and staying below WWAP, I wish to SHORT below WWAP on the 2,5,15 min chart (arrow pointed). However it is a missed trade where I keep on pressing the short key but didn't get filled ROKU - When I saw that all charts are harmonious and staying below WWAP, I wish to SHORT below WWAP on the 2, 15 min chart (arrow pointed). However It is a missed trade where I keep on pressing the short key but didn't get filled Overall it is a green day for me and I am happy. However also a bit sad when I didn't manage to get the last 2 trades. Do members here experienced the same issue as me where you tried to for short but didn't get filled?
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1 pointSeptember 17, 2019 - 1 Partial, 2 Stops I took three trades and had to do some real analysis on the final two as both I got chopped up real bad. The first one I think was because of the President speaking as the $SPY went crazy. The second I think was that instead of waiting for things to calm down after that I re-entered. Trade 2 image shows the choppiness of it. Trade 3 image shows that after the market picked a direction after the news, the strategy worked to the long side. Right now, I think I am doing the exact same thing I was doing with the orb strategies when I went live with those. I am waiting for too much confirmation and was entering after the initial move happened. I still working adjusting it but the strategy works, I just need to work out the entry part. Again today worked 3 times on 3 different stocks including the one I got stopped out on twice. Just not entering at the appropriate place. Sample Set Results, P S S 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
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1 point17/9/22 okay day, finished 2 Rs down, still just too many losers but was a real choppy day. had to abandon my watchlist half way through and trade things that were moving. 11 trades: 2 winners (VWAP hold, pendant reversal) 1 b/e (no setup) 8 losers (ORB, VWAP breakout x 2, no setup x 2, pendant breakout, chasing ABCD x 2) Trade 1: ORB on snap but got in too early, had a big pop after this, shouldve waited to see the support before i got in. Trade 2: After KHC got out of its consolidation i went long at VWAP with increasing volume but was pure chop. Trade 3: was a bad entry not sure what the setup was either. Trade 4: chased the entry on this pendant breakout, didnt work anyway, the pendant wasnt perfect. Trade 5: over trading. Trade 6: finally a good trade, punched above VWAP, held, then held again with a shooting star on the 1 min, got a great entry and rode it up partialling at resistance Trade 7: was looking to get in early hoping a triangle would form but shouldve waited for confirmation because i went short just after a double bottom. stupid. Trade 8: looked like it was losing VWAP so went long, AAPL was so choppy so got out at b/e Trade 9: ROKU broke out of a pendant at HOD, missed the entry so waited for a pullback and got in as it went down again, added halfway down then got some good partials around VWAP. Trade 10: market was going mental and i chased ENPH up twice. stupid.
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1 pointTuesday 9/17/2019 I had a well-being score of 7/10 this morning. I took 2 live trades this morning, with AAPL and BABA. So AAPL and BABA were on my market open watchlist with MU, AMD, SQ and KHC 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. No bias on AAPL or BABA. Both were toying with red to green. So they either punch through for a long or find resistance for a short. Volume actually arrived at the open for both. Both went red to green and then rejected it. So both looked like a short. AAPL set up first with a nice reverse hammer. I shorted as it turned red. My target was the 219.32 daily level with my stop at HOTD~220. I did get 3 small partials though 2 were bad fills. Then the price spiked higher. I was worried about a red to green move and I got out quickly. The price flew by B/E with most of my shares. So this was a small loss. Then AAPL did setup again for another short but I no longer trusted it. Too bad because it did reach and go past my target. My second trade was with BABA. The price rejected the PDC strongly and made a nice 2min reverse hammer. I tried to go short when it broke down through the 200MA-5min. But, didn’t get a good fill but that is common on BABA. So I made a mistake from the beginning. Since I was watching BABA for about 20 seconds I lost track of the time and entered the trade at 9:31:59. I don’t like taking trades close to the end of a candle. If I saw that I would wait until the candle finishes and if the next candle breaks through the body, which it didn’t. So I was immediately stuck in a trade that wasn’t as good as I hoped. My target was the 175.30 level with my stop at PDC. After my bad fill my R/R~1.5. But I really like the 200MA-1min and 176.02 daily level are in the way making it a strong level to pull the price down for a partial profit taking. After 2 minutes I took off a little to reduce my risk. After 6 minutes the price did reach my first partial target, but I don’t like to sell/cover on BABA without checking the spread. But by the time I checked at the spread the price jumped back up. I think in this situation I probably should have just taken the partial. I held for awhile, then there was one last attempt to break VWAP and go lower. It failed and volume was gone so I exited early. Which is good, because I realized after the trade I took too large of a share size. So with the early exit I kept the loss to about -1R. What BABA looked like when I took the trade: The entire trade: Score card (live trades): AAPL BABA 91% 80% What I did good today: Exited early from a trade. What I am grateful from today? Stayed in a trade for 17 minutes. That’s really long for me. What do I need to improve on: Watch the clock and share size. These are tasks I usually don’t have to worry about, so always need to keep those near perfect.
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1 point9-17-19 Woke at 7:40 with 5 hours sleep, feel pretty good. SSS and a Coffee.... PAT: Make sure I have a play for a trade......... stick to my plan......... wait for better setups........ I will still try pre 5min trading for a little longer, I am still trying to find my place in the market..... for the short sample on Tradervue my trades that are under 10 min. are loosers and over 10min are winners.... and trades between 9-10 and 11-12 are also winners..... AMD........ apx. 3/4 Share size on all three trades as I feel these early trades are still not my thing........ first........1min ORB...... on pull back and added in on the way up....... stopped out below VWAP......... -38.00 second..... short with no clear pattern so I stopped myself out ASAP....... +2.00 third....... 10min ORB........ VWAP for target and Low of Prev. 10min candle for stop out....... -30.00 -66.00 SNAP...... PB#1, 10min ORB with ABCD on 1 and 2min.......... I did try to get the earliest entry her for a big R/R, entered at C and added in for a total of a full share size...... As I am in t he trade I did not like the price action, L2 or T&S so I reduced my size by 50% and then all out when it continued to chop......... +10.00 NUGT first....... PB#1 without confirmation (B- setup) was mistake one and mistake two is that I took full share size........ target was a Daily at 31.35 but got stopped at VWAP........... -56.00 Second........ PB#3 (A+ setup) took full share size ....... Trend with an ABCD on 1min and no new low on 5 or 15min, above all MAs and Harmonious ............. 1.5/1 and 4/1 ultimate goal with my targets at daily of 32.02 and 32.66 and stop of break of C......... Partials of 25% three times then added on the pullback then continued to partial up to 33.00 and one on the way down then all out..... +226.24 Third was a continuation of the previous but instead took 1/5 share size and would have added in if the action went my way...... -10.00 +160.24 Cons: Pre 5min trade cost me 38.00........ Took one trade without clear confirmation (NUGT #1) and tried to enter another before the move (AMD #2) and another out of excitement..... still need to fine tune my share size depending on the quality of the setup...... Pros: Did respect my stops...... Did find my A+ setup and took proper size........... My favorite of the day for my new Playbook is 2nd NUGT Trade........ R = 50.00: +104.24
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1 point9-16-19 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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1 point16/9/19 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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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 point13/9/19 had a decent day today but feel like i couldve ended much higher, made good trades but made mistakes and so lost out 7 trades: 4 small winners (wedge breakup, trend trade from VWAP x 2, pendant breakout) ended 1.5 Rs up 1 b/e (trend trade from VWAP) 2 losers (engulfing, pendant breakout) Trade 1: went for a engulfing pattern when bullish volume came in but stopped out. Trade 2: still looked bullish and a ascending triangle was forming so went long got a great pop, tried adding later but then it went the other way. Trade 3: once it broke VWAP i waited for a pullback and confirmation and went short, added as it made a new low and then got one nice partial then out at b/e Trade 4: pendant break out, didnt work but i took the break out on the other side which did work, trade is at the bottom. Trade 5: took this short once it rejected VWAP after a pullback. my share size was too small though so didnt get any partials before i got out at b/e Trade 6: came above VWAP, held so went long, again share size too small to get any partials before i got out at b/e Trade 7: went short out of a pendant got partials along the way, accidently got out and back in at one point, also tried to add at the end then got out at b/e but shouldve given it more room past the 20 on the 5min and then i wouldve had a really big winner.
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1 point9-13-19 woke at 7:45 with about 7 hours sleep, feel a little more awake than the rest of the week. cup of coffee and away we go..... PAT: Keep working on proper share sizes..... make sure I know my pattern and confirm it before taking the trade.......... use hard stops for walking away.......... Not much of this day that I am proud of......... I believe I went into this day with over confidence from the week......... MU ..... PB#2 ....... all VWAP plays with VWAP either a target, a stop or break of........... Traded these with TOO MUCH false confidence from the week............ first trade was long with a -56.00......, second trade was a short with -16.00..... third was a long again a -44.00........, fourth was a short with +36.57 ....... fifth was long at +22.50....... sixth was a long for +22.50...... sixth was a long for +27.50 and finally seventh was long for +21.50........... I not only over traded but was a maniac with scaling in (which I want to get away from) -13.93 ETSY ..... PB#2.......... Lost VWAP on the 1min and entered on the next candle with confirmation it was also a PB#1 with a 5min ORB and engulfing crack........ The r/r was not good at about 1.5/1 (.38/.25)......... I did get almost 2R out of it..... +99.38 ROKU .......... A finger spaz with no chart needed, between the spread and the accidental entry of 400 shares it was an immediate -41.00 OSTK .......PB#3...... from turbo breakup........ I did not wait for a good entry which would have been around where I exited and would have still been stopped out for the same loss........ The problems with this trade is that I did not wait, then after entry I was looking at other stocks and missed the first drop, I then tried to flip my position to find out no shorts here...... -66.00 Cons: Over confidence trading with way too many trades....... I am still adding in which I am trying to get away from........... Pros: Stuck to my stops....... Getting out of here as I know this is not a good day for me to be here............ R = 50.00: -21.55
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1 pointDay 2 has been looking something like this. Going to a meeting and will be back later
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1 point9-12-19 up at 7:50 with 4.5 hours sleep.... SSS and making a coffee...... feel a bit groggy again, guess this is a groggy week..... PAT: Work more on proper share size....... Do not take trades as soon as I click to view them, make sure I have confirmation....... Stickies and PB........... I have to get out of here early so I will post my early morning trades later today.... Hopefully I will remember what I did..... These were all early morning scalps..... I will try to recap what I was thinking 13 hours ago I Felt good about my first two and fourth ROKU trades and felt like I got in bad on ROKU third entry... the first two......... PB#2........ were straight scalps and I was watching the LVL2 and T&S very close.... first one was breaking VWAP for entry with a stop loss at the MAs, the second one came back to test VWAP and rejected it and an add on when it bounced off VWAP once again....... my only regret may be that I closed the position on the first one then reentered instead I should have partialed less and added in..... I am still on the fence on how to treat this..... third trade .........PB#1........ was ORB with 1min ABCD and holding above VWAP..... Looking at this trade now I can see that I would have taken it one way or another..... stop loss was loss of VWAP on 1min....... fourth trade........ PB#2....... There is a reversal here on the 2min after the break of the hammer and also on the 5min a new high along with a reversal signal....... stop loss was tight at .25 below MAs and target was of course VWAP..... I did take a partial when it went from red to green and again at VWAP and all out when it went back to red....... +141.21 BHGE two entries...... PB#1......... ORB with ABCD on 1min for both...... Both also was a VWAP play........... I had to exit the second because I was back and forth getting ready to leave and the action was too fast to not pay 100% attention to........ both stops were VWAP and targets were the 50ma......... 0.00 KR.... PB#1 ..... 15min ORB with ABCD on 1min ...... This was a bad trade as I seemed to rush this one and after this review I see that the 1, 2 and 5min all had a shooting star just before entry...... stop was below the 9ma...... -15.00 Cons: I took the KR trade without much thought and only a loose pattern....... I should have just put a hard stop on BHGE second trade instead of exiting it as this should have been a big winner for me.......... Pros: I feel like my trade management was good....... I respected my stop losses.......... I only took trades out of my PB....... R = 50.00: +126.21
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1 pointSeptember 11, 2019 - 1 Goal I was still able to get a good hour of trading in before heading off to work. I had $PLAY, $MU, and $ATUS on my watch list. I did not plan on trading 5 minute opening range because they just have not been giving me the setups I like, but I did make the decision that if I got a great setup I would trade it. I got it on $MU, although it was a little later than a 5 minute Orb. I took an entry after it rejected VWAP/50 SMA and broke the previous candle, moving averages, and a resistance level. I got a little worried as it started chopping around the VWAP and even more nervous when Andrew decided to exit his position around the 0944 time. I almost got out, but made the decision that I would hold to my stop at 50.26 or a close below VWAP. It was reassuring that each time the price action touched VWAP that it quickly rejected it. I took my first partial around my 1R level and I stuck with my trading plan A of exiting my full position at the profit target. I did have an issue as I inputted my range order but it did not fill and the stock began to reject the 51 level, so I removed the range order and decided to exit with the hotkey. Overall I was happy with this trade. I did start looking for a 15 minute Orb, but nothing was there so I switched to my afternoon setup and began looking for a moving crossover trade. I did not see anything I liked so I called it a day and started journaling as I knew I would not be able to trade the afternoon. Sample Set Results, S 2 3 P 5 6 P G S E E S P P E S G 18 19 20