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Showing content with the highest reputation on 10/01/2019 in all areas
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2 points10-1-19 Woke at 8:00 with 4 hours sleep (A bit of a unexpected long night). A little groggy today..... SSS and a coffee. PAT: Share Size...... Trade the Trade...... Pre Market Routine: no reading,,,, a bit of exersise, stretching and meditation Notes: After reviewing my Tradervue My trading in the first 5min have been profitable with trades in the 0-2min length and then after the 5min ORB is negative for the next hour....... Then it looks like after 1100 is where asll my bigger wins are with longer trades.... I will yet again reinsert my pre 5min trades but all of this will still be in a SIM when Live.... SNAP Pre 5min...... (No Grade) ..... took too much share size from the first one to the last add on...... stopped where I wanted to but took too much share size..... -90.00 X First.... PRE5..... (No Grade)..... ASKs on LV2 was insane so I went long and added in but it turned fast with the BIDs.... Got out on LV2 info..... looking at the charts now there was no Reason2Exit...... and also now looking at my P&L I see that I had too much share size (about double).... -92.00 See chart for X second trade Below TVIX PB#3..... (B+ setup) .... took 2/5 position which I am happy with.... I am not happy with the exit as I had no Reason2Exit..... I closed my position where I should have added in.... Even though I feel like this is a worthy trade I will put this up here as I am not sure I could pull the trigger on this Live..... +15.50 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ I will make this my break of SIM and Live account for my information.... but as I have been doing I will still use my P&L for all trades since I do not have a way to separate them yet....... ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- X second...... PB#1 ...... 10min ORB with an ABCD on 2min.... took full share size in two orders, the first was just a couple seconds before the 10min candle break and the second was at confirmation..... All the charts including the 30 and 60min were harmonious.... The daily had then 50ma that it was bumping on as resistance and then broke through, here is where I was looking to see if it would hold that level as a new support and if so I would or will add on / reenter..... Took 25% partials then All out on a new 15min Low and my Reason2Exit.... +216.79 MU PB#3..... (A setup).... took 2/5 position which was too small for the way I have been trading these (should have been double this)..... On my first partial I hit the sell 25% button which added to my position and brought my AVG. way up in a bad spot so I covered 50% and got me back to a small profit here... moving my stop to BE and will add in or take more small profits at key prices if given the opportunity... I missed an opportunity (was here adding to my journal instead) to add on at 1100 when it bounced off the 9ema on the 2min with confirmation...... instead I took another small partial at a key R value...... 1117 pulling back to the 9ema again, did not add here because I do not like the 2 previous 5min candles... +70.79 Cons: messed up share size a bit..... hit wrong hot buttons again...... Pros: Took two trades I really liked and I think I would trade these live if my nerves will handle it.... Favorite Trade: X second trade..... Notes: Take just a milli second to make sure I am clicking the correct orders...... R = 50.00: +121.26
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2 points30/9/19 only took 1 trade today, just didnt see anything i really liked which isnt a bad thing. 1 loser (VWAP hold) Trade 1: BABA gapped up so after a VWAP reversal i waited for a VWAP test, it wasnt perfect but went long but stopped out. I did notice a lot of buying at a level but the price wouldnt break above it which is something kurt was talking about last week which is a bearish sign, which was good to see and in future maybe ill use that as a signal to get out early if its in a consolidation area.
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1 pointCMEG 3 month Review I wanted to wait a few months before giving my opinion on CMEG. I have been using them since late February 2018 and am one of their initial client accounts. Let me preface this review by saying no broker is perfect but if you are using SureTrader...CMEG is far better overall and a solid choice for small accounts learning to trade with no PDT rule. Their client service is more than happy to talk/email you on any concerns. Who is to say other brokers do not experience the same issues from time to time? I will begin with some issues over the months I have experienced: 1. Orders getting executed (I have experienced times where I could not close out of a position and had to call/email them to manually do it). This lasted for a few hours, sometimes until the next day but usually was fixed overnight. ~2-3 times since February. I was not given a reason why this occurred. Also they do not reimburse any losses incurred for being unable to close out. 2. Changes to their margin policy (without email notification or a phone call on updates to their trading rules). For example, some of my hotkey scrips use % of Buying Power. On a few mornings CMEG had updated their margin allowed and the requirements behind usage. As a result my orders were not getting filled and I had no idea why! Rule parameters could vary from how much margin is allowed with long/short positions/per stock price/maintenance requirement per share...etc. I had to troubleshoot scripts with a real/demo account to understand what exactly was going on...alongside email/phone calls to the broker. A good habit was to test orders in pre-market with the provided demo account. Just because you were able to swing with 4:1 margin without liquidation or use full margin short at the open on XYZ stock priced at X dollars does not mean you can the next day. It's best to check their policy regularly or even better just call to see if there was an update. There was no mass email to clients for rule changes. However, I believe they now inform clients by email for most updates. Excellent! 4. This broker is overseas so be prepared to face international calling charges. However CMEG did help and credit my account for me unknowingly incurring international phone charges. They are not toll-free. They also credited back some of their platform fees that I incurred for the inconvenience of any changes that affected my trading which was very nice. A sign of goodwill and respect to clients. SureTrader refused to credit me back their withdrawal fee $40 after having me wait 3 weeks due to an error on their end to receive my money...I will never go back. 3. Platform software updates - they should inform clients of all manual changes, i.e the Mobile DAS App Order Route had to be manually changed to be able to login on your phone. This had to be changed to route 5016 from 5010 when they released an updated desktop client. Probably just an oversight but I had to take hours out of my day to figure this out, work with DAS tech support, and groupthink with BB members. Also it is best to talk to DAS tech support for any issues related to all licensed DAS platforms, both mobile and desktop. I did not expect CMEG to know everything about DAS as they are a broker and license the platform. 4. Email responses can vary, sometimes less than an hour, sometimes more than a day depending on the situation. Sometimes their phone number doesn't connect through, and I need to call a few times, and I think some of the email signatures use an outdated phone number? Something I'm not sure about that Lee W brought to my attention. I think IB can set up or the direct platform license from DAS has a risk feature you can right click on your account and set up risk parameters, i.e Max Loss, Max Loss Per trade. Not sure on this but CMEG does not offer that feature with their DAS license. Would be a nice feature for new traders to use though. I listed these concerns so CMEG can eliminate them. I am not criticizing their services and am 99% of the time pleased and comfortable using them as my broker. I often email them with suggestions on improvements and compliments. If I am able to work with these issues as a new trader you can as well and should use CMEG. Overall The $2.95 per trade promo that Andrew got us is probably the best you can get out there, unless you scale out 10 times, then IB may be the better choice if you have the account balance, or perhaps Speedtrader. This makes new traders less worried about commissions and breaking even and more focused on trading the setup. SureTrader charges $5 per trade in the U.S. and this makes it very stressful to manage, trust me. Performance has been getting steadily better (orders have been getting filled without issues for well over a month now). Closing positions has not been an issue for over a month as well. Excellent so far. FREE SIMULATOR, when you open an account! SureTrader does NOT offer that. The executions are very fast. Short inventory is excellent (they route through IB and seem to have even more available sometimes) I have not had any crashes of the platform. Windows 10 Pro. They do not restrict margin with many stocks, only in very very rare cases is margin restricted. I think in 3 months I've only seen 1 stock restricted and that was LFIN lol R.I.P. This is a huge advantage to build up small accounts over other brokers like SureTrader and IB. You need at least 5K buying power to make profits over these $2.95 commission fees on most stocks we trade. With 4:1 margin for <2.5K balance and 6:1 for >2.5K that's not hard to maintain and slowly grow on 1-2 trades daily A+ setups. The growing pains of their risk/margin policy changes has settled down. I think they compromised what they can manage and what traders feel comfortable using. It has been over a month I think, since the last big change, and I like what their rules offer! Makes new traders at ease. Rules are available on their website to view. I can pretty much use margin on almost all stocks I trade without issue. I don't trade stocks less than $10 too much and their rules tend to be for very low priced penny stocks. So if you trade from Fernando's watch list you may not be able to use too much margin. Also be aware that in the past you may have been able to swing positions using full margin, that has since been reduced to 2:1 margin, you get an email warning around ~3:48PM and ~3:53PM their system automatically brings you within that limit. When I asked, forced liquidation was not a part of their procedures but came into effect without me being made aware...so it's best to double check their rules weekly or you can learn the hard way. Remember they sometimes update their rules without emailing clients. If you were able to swing with margin in the past, give them a call to make sure you stay within guidelines come market close...if you're caught in a bad trade but like the daily swing. This really doesn't matter because you shouldn't be swinging with much margin anyway right? All in all, I would continue to use this broker and recommend them to new traders wanting to build up their accounts, learn to trade, practice in a sim for free, and use an excellent and tested platform. They are constantly improving and love to receive constructive feedback. It can only get better from here as they develop. Oh yeah wait times on the phone are usually pretty low, couple minutes at most, unlike some other brokers and their service team remembers you! Thanks Andrew for working with CMEG to help us small account holders be able to day trade along side the big boys.
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1 point01Oct19 Green Day. +5r. I couldn't spend much time on Premarket today. But the day turnedout to be good. Also, because I have not been trading regularly in Aug/Sep I have reduced my risk now. Watchlist: $X, $AAPL, $AMTD, $BABA Trade 1: $AMTD, $AMTD was selling off at the open due to $SCHW offering zero fee stock trades (Infact all online brokerage stocks dumped). I wanted to take Rising angel setup, but at the open the stock couldn't pull close to VWAP, as it was so weak. I took very small size, price didn't dump rightaway and I got out. Trade 2: $AMTD, Stock was extended and bottoming in the afternoon, I took long after the 15min candle break on the upside (level $34.86). Knew it was knife catching so MAs were exit targets. Trade 3: $AAPL, After my first trade on $AMTD, I noticed the PB-BE/3C setup on $AAPL, I took it Long, put a range order for 3r to previous daily level. $AAPL was too strong and blew thru my target with no problems. Although $AAPL moved another 1.5-2$, I don't have any regrets, I stuck to my plan and it was my OneGoodTrade. Trades 4,5: $X was very strong at the Open (due to acquisition), I took long on the pullback, got stopped out, flipped my position for short. Price struggled to drop and I got out for a small profit. Trades 6&7: $AAPL, I was looking for reversal at noon, after price bounced off 50MA on 15min. Was not so confident about it as the bounce was not clearly from 50MA (didn't touch it). I would like the stock to go thru the MA and retrace. Nevertheless, took small sharesize on these 2 trades, first one BE and second one was small winner. Good: I usually lose my first trade in the afternoon, after I come back taking care of my daughter. Today afternoon, I was patient looking for setups, went in with small size in $AAPL for reversal and got one winner. Overall I am happy about today. $AAPL orb was my best trade of the day, as I stuck to my plan. Improvement: None today, I have some from Sep month that I need to address this month.
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1 point1 October 2019 AAPL AAPL was on a big gap up today. All the charts looked very bullish and when I saw it was holding the VWAP and all the moving averages in the first two minutes. It bounced I decided to take it long with a stoploss below VWAP and the previous candle. Turned out to be a very good trade with a decent profit. X My second trade was on X. Again a harmonious chart, up trending on all the time frames and no resistance ahead. I entered it long when it broke out of the 10 minute range and the break of the flat wedge. Worked out well, so took partials along the way up. Stopped the rest out at B/E Ended this day green with a profit of 3,5R. I wish I have days like these more often.
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1 pointTuesday 10/01/2019 I had a well-being score of 6.5/10 this morning. I am limited to 1 live trade a day due to 3 big loss days in a row, broke a rule and a general lack of discipline My 1 live trade this morning was with AAPL. I learned a lot today. AAPL as my primary focus. BABA was also on my market open watchlist with MU and X was on my 5min ORB watchlist. Based on back test data MU should be my primary focus, though it can be switched with AAPL depending on PM. I really liked the PM of AAPL today (gap up 0.5% and lots of vol) and its daily chart so it became my primary focus. BABA had a nice daily chart so I also prioritized it over MU. I was long on AAPL so I was glad to see it drop at the open with lots of volume. So I waited for the reversal and hammer to be formed. Near the close of the first 1min candle a nice hammer was forming. I went long a little bit before the hammer was fully formed since it broke through the 200MA-1min. My target was the 226.08 daily level and my stop the 224.9 PM level. The R/R =4 which is too high for these 1min ORBs. But since I expected a slide on the entry and stop I used a larger 35 cent stop. This made the R/R~2.5 which I felt better about. So today was interesting. Though my nerves have been much better the past 2 months, today I was especially calm before the open. So when I started to get stressed in the middle of the trade it was wasn’t as bad as usual and I actually remember taking each partial profit and what I was thinking. This is important to analyze how to improve my trade management. AAPL had a 8R move, from my entry, in 20 minutes. From my entry to the last shares sold I caught a 3.3R move. But I had so few shares left I felt like not holding them by the end. And though I don’t look at my P/L anymore, I can estimate I, at most, made ~1.5R in the trade. So again I let the trade that could of made my month or at least my week, go with just an OK profit. The first move up was reasonably quick and I took a tiny partial (1/8). Then over the next two minutes I had my finger on the sell all button as the price jerked up and down and tested the HOTD 5 times. On the 6th time I lost faith in the trade (even though the candle created another hammer and SPY was going up) and I took a ¼ shares profit. The price moved up 2 seconds after. Yes I didn’t know that, but I made so little taking ¼ shares at a 20 cent move. I should have saved them. If I did not take that partial and took all the other partials at the same spot, this would have been a 2.2R trade. A big difference. The price then moved quickly and reached my first real partial profit target HOPM. Where I took a partial. Then the price tested that level 3 more times over the next 2.5 minutes. Now my finger has been on the sell all button for 5 minutes, ready to spring into action. So finally the price broke the HOPM. This is where you sit on your hands and watch the price move up. But after 5 minutes on edge, thinking I need to exit at any second, I took two reasonably sized partials for almost reason. The one thought I had at that moment is AAPL tends to give you about 60 cents on these 1min ORBs, so I had the feeling I should take a partial there. Taking two there was just due to nerves. The price finally reached my target, with little shares left and I partialed a little early. Then with very few shares left I sold the rest at the next daily level. Where I also sold a little early compared to that level. So 7 partials and 3 of them there was no need. But that 2nd partial was the most costly. Score card (live trades). Using the new scoring: Original New Setup 50% 25% Entry 20% 15% Partials/Exit 20% 50% Share Size 10% 10% Total 100% 100% AAPL 91% What saved my score today is at least I held on to those last few shares until the next tech level. What I did good today: Great entry. What I am grateful from today? Was especially calm before the open. What do I need to improve on: Need to be stronger not taking partial profits in between the tech levels.
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1 point30 September 2019 MU in the late morning I saw MU had started a downtrend. On all time frames it was trending down and bottoming out on a descending wedge. I took it short after it touches 3 times the flat bottom for a ride to LOD. It squeezed u and got stopped out above the 20 EMA on the 1 minute ROKU I took a 5 minte opening range breakdown on ROKU after it engulfed on the 5 minute. I placed my stop above VWAP. The daily chart was looking good for this short. It was a harmonious chart below all the moving averages. Unfortunately the trade didn’t work out and stopped me out. WFC Trade 1 Took a descending wedge on this one. Very clear triangle patter with a bottom on a daily level. Took it on the right on the breakdown and partialed at a daily level. It dropped some more but then quickly got bought back up and got out at break even WFC Trade 2 Very nice ascending wedge on this one. It formed a bullish hammer on the 15 minute chart and entered on a new 5 min and 15 min high. In this trade something went wrong with my hotkey. After I got in I saw I had very little size, so I didn’t take any partials since it was too little profit. If had I normal size it would have been at least a 3:1. JD Another descending wedge on JD. Harmonious chart and down trending on all the time frames. I stayed a while in this one since it chopping around my entry. Eventually I got stopped out above the 9 EMA on the 5 minute chart. It was a vey choppy day today. My position sizing was at some trades not on point. Ended the day with -1.5R
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1 point30.Sep.19 Break-even day.. I had one winner on $MU at the open. And then didn't take a trade for 6 hours. FOMO got to me and took a losing trade on $THO near the close.. Details below. Watchlist: $MU, $DOVA, $GSK. The reason why I picked these stocks is below. Trade1: $MU. $MU had earnings on Friday and dropped 5 points by end of the day. I was looking for a continuation move today, especially because the stock closed within the lower 20% range of the day. Also, Stock couldn't break $42.9 on Friday, which remained low of the day. $MU opened flat today, may be slighly gapped up. But my bias was that it will drop further atleast 2 points, if it could break the low of friday ($42.9) & premarket low ($42.73). $MU was on SSR.S thruout the day. Today, we lacked volume in the market, may be due to the Jewish holiday. $MU was whippy at the open, couldn't find a direction (I found the same with $DOVA and $GSK too). Nevertheless, once it broke the $42.9 level, I went short. Due to SSR and lack of volume, my entry was $42.82 (9c lower). I wanted to add in the next pullback, but the fill was pretty similar. My first partial was $42.67 (15c lower), but I didn't like the price action, took another partial, Got out once price broke the resistence of $42.73 (premarket low) above. I usually take VWAP pullback short, but this time, I didn't feel it. Good, I didn't enter, $MU squeezed big time and trapped all the shorts. Trade 2: $THO. After my $MU trade, I switched to SIM, didn't get any setup in $GSK or $DOVA. I would have taken $GSK fallen Angel, except for the lack of volume. I was out for 2 hours. Came back and made some trades in SIM. I was feeling FOMO about not trading anymore, having not reached the daily target or max loss. I was pushing for another trade. $THO was in the scanner thruout the day and I made some SIM trades too. 15min before the market close, price hit strong resistence (VWAP, 200MA 1min, 50MA 5min). I went Short. Realized it's not dropping fast and got out. Price eventually dropped, but I could have avoided this as it was not A+ setup. Switched to SIM and it did work. I didn't use Kyle's hot key, so my sharesize was twice bigger and took out my profit. Good: $MU trade as per plan. the One Good trade (OGT) for me. $THO although I shouldn't have taken this trade, got out immediately, after realizing the mistake.. Improvement: Need to address FOMO, this results in trading not A+ setups.