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Showing content with the highest reputation on 10/02/2019 in Posts
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2 pointsOct 1, 2019. $FAST Well today the plan was to take 5 min and 15 min Orbs and then transition to Sim to work on a new entry plan. Went well in the morning, except that I didn’t get any orbs to trade. Everything moved without pulling back to VWAP and I do not like trading SSR stocks, so that eliminated some of the good brokerage stocks. $SCHW was a good one and I almost took it before the 5 minute when it lost VWAP, but I was pretty amendment that I was only trading within my plan today as I have a rough couple of weeks. In the afternoon, started off well taking a sim trade on $MU and then looking at the scanners for another stock to take a trade on. Found $FAST off the Reversal with volume scanner. I took an entry on it as it had a setup. I was a little late on it but decided to go with it anyways because I was trading sim, oh but wait, nope that was a live entry I took. I thought about just getting out, but said to myself it met your trade requirements, just a little late on the entry. Might as well let it play out maybe it works maybe it doesn’t. I got a partial and then stopped out at B/E. Overall a good productive day. I still need to work this entry a little bit. I think I have zerod in on a better entry spot that allows me to get a partial at a good level. Meaning that the partial occurs right were the stock will either continue to moving in my direction, or it goes back to my entry point. Sample Set Results, S P G E E P 7 8 9 10 11 12 13 14 15 16 17 18 19 20
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1 pointHi everyone, My name is Mark and I joined BBT about 5 months ago. I read Andrew's book and was hooked. I am a RN but I realized that the lifestyle that comes with it is not what I want. I am missing too many holidays and weekends and don't want to miss out on those memories with my family. When I first started I decided to try to watch and study all the content that was offered through BBT. My wife was 7 moths pregnant at the time and I knew it was going to be difficult to start once the baby showed up. I also did not have a strong enough computer at the time to trade, so I just kept watching and learning. My beautiful daughter showed up on June 17th and got the keys to our news house on the same day (what were we thinking buying a house so close to the due date) and I was out from BBT for about 3 months. Tried to watch some content when I could but it was difficult. As mentioned in the book, I did not rush to get into trading as I was not able to focus on it 100%. Finally was able to purchase my new comp on month 4 and luckily my wife and I were comfortable being in a new routine with our daughter. Started to recap the content more thoroughly again. Finally, just this past Monday, I started jumping in with DAS simulator - brutal, I thought I knew what I was doing, but man, was I ever wrong! Started with 3 montages but realized, that is too much. I scaled down to 2 montages and it seemed to help today. It felt like I "knew" what I was doing, or maybe not, you be the judge. I did 2 trades today: TVIX and SFIX TVIX - I thought I knew what I was doing but after reviewing it, I think I know where I went wrong. I thought it was a good idea to get into this trade because it because it was following a trend. I was looking at the 1 minute chart. After getting stopped out and reviewing my thought process, it was all wrong. Trend trading is not recommended until close of day. I went in long after lower lows, lower highs. There were no levels or indicators on where I should have sold. I did have a stop loss in my mind which was at 9 EMA. I was a little late but I was all out. The other trade I did felt a little better. I waited for a 5 min ORB. When I saw that it cracked the VWAP I went long on the next candle at 17.53. My stop loss was just below the VWAP at around 17.40. I remember seeing two levels at around 18.20. I covered half at 17.83 and another half at 18.11. The remainder, I held in the hopes of it hitting that 100 EMA. However, it didn't go in my favor and I was all out at the break even. My position sizing was horrible. Was hoping to only buy about 200 shares. But it populated 1000 shares. I decided to changed my layout config on my montage and now have the hotkeys at the bottom so I move from top to bottom to insure I put in the correct share size. I have a few questions and would appreciate any help. Any feedback would also be greatly appreciated. - How was my trade management for SFIX? - For position sizing, I am working with $5000 equity. I know on the videos they say to possibly to 50 to 200 shares to start off. But if I bought 50 shares of SFIX I would be at almost 18% of my account. To be in the 2% of my account, I would really only trade about 6 shares, correct? Overall, I feel pretty happy with my trade management as I stayed true to my stop loss. Also, I am glad I made those mistakes today, as I have learned from them. If I am dead wrong about everything, don't hesitate to let me know - any feedback would be greatly appreciated. Thank you!
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1 point10-2-19 Woke at 7:40 with 4.5 hours sleep, feeling ok....... SSS and a coffee...... Read a bit in The Play Book.... A little exercise and stretching along with a short meditation.... PAT: Share Size......... Trade the Trade...... Correct Hot Buttons.... Notes: Need to take a second when exiting a trade to make sure I am hitting the correct Hot Button...... Here to journal not because I have two mistakes in a row but because I feel like I am jumping the gun with the second trade of TSG and LEN (these are both a lack of patience) UNFI PRE5.... (B- setup?)..... Bad Quarterly and a drop below the MAs on all Time Frames..... Took two large partials for most of my position and all out at BE...... +67.50 LEN second..... PB#3...... (C+ setup)...... This trend was not far enough in the day for my trading preference, this along with taking full share size was a big mistake...... I added in on the real bounce off the 9ema on the 2min and the forming of a hammer on the 5min. (I am not disappointed in this add only that I was in this trade already).... ended up getting stopped out as expected. I probably should have just exited once I knew I should not be in this trade.... Below for Chart -55.00 TSG first.... PB#2..... ABCD on the 5min.... VWAP PLAY.... (C setup).... even though I had these two confirmations I was trading into resistance.... a partial of 50% and all out on price action change.... +20.65 second was just an ABCD and listening to the Chat and jumping the gun.... F setup.... got stopped out like I should have..... -47.60 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ 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....... ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- LEN first trade...... 5min ORB with ABCD... (A setup)..... also popped above VWAP, 9 and 20ema and the 50ma on the 1 and 2min..... The first add was not very smart as it was too extended, the second add was a bounce back from the 9 and 20ema on the 5min..... took most out at the first partial as the price action was changing and all out at BE..... +46.11 AMD PB#3..... (A Setup)..... Call this one trade as my range order went crazy (or it was just me possibly).......Not an A+ setup because it was hitting and going above the 20ema on the 2min but it was trending the 9ema on the 5min..... I set a range order and left for lunch to come back and find that it did not execute again at my profit target..... I did end up getting back to my target and a large partial out and all out at BE.... +69.10 second.... VWAP Play... PB#2..... (A setup)... took full share size.... Out because I heard Trump is supposed to speak and I do not want to hold onto it for the speech..... +5.00 Cons: Took a couple bad setups..... Did have my position size wrong a little.... Mad a Hot Button error... Pros: Respected my stops.... Favorite Trade: LEN first trade Notes: Had to leave in a rush and finish this journal next morning..... R = 50.00: +106.76
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1 pointWednesday 10/02/2019 I had a well-being score of 5.5/10 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. It left me a bit spinning. Starting to feel better now. AAPL as my primary focus. BABA was also on my market open watchlist with MU and NFLX was on my 5min ORB watchlist. It was odd but I liked AAPL, MU, and BABA from the premarket and wasn’t sure which to focus on. At the last minute I chose AAPL and BABA really for no other reason then it is much easier to watch that combo than say AAPL and MU due to different prices and personalities. AAPL open with good volume and bounced of the HOPM. I decided to go long if it broke that level. Since I was a bit short bias I knew this trade would probably be a fast scalp so I did jump the gun a bit and entered the trade before a clear break. My target was 224 and stop 223. But in less than a minute it made a clean break and I took one partial. The price quickly retraced and I got stopped out. But this is where the emotional strain hit. Before I got stopped out I was thinking this looks like a really good short, so my instinct was to flip my position well before my stop. But I can’t because I am currently on a 1 trade/day restriction. So instead I held onto the position longer to a full –R. I tried to switch to SIM quickly and take it short, but it took to long and I felt like I was chasing it so I didn’t. I was already feeling low after the AAPL trade, then worse after my SIM trades. I first took two SIM trades simultaneously. One I was stopped out by 2 cents than the stock went for its run without me. The other stock I did get two partials than I was stopped out by a penny and then it went for its run without me. Then I started to overtrade (on SIM) and took 4 poor trades and got S/O on each one. Which forms more bad habits. That’s when I felt my lowest. But about an hour later is when I realized that the main reason I am forcing myself to one trade/day is punitive. If I go back to SIM, that is like a vacation to me. But I really need to feel the pain for breaking one of my rules on Monday. And today was a perfect way to solidify that. It hurt not being able to flip the position. And I will likely stay on the one trade restriction for the rest of the week. I also decided to take advantage on the remaining two days this week. Since I am on a one trade/day restriction I can do less damage. So I should be experimenting with different stocks and setups. Data I took, a few months ago, is that my win% was much better on stocks that I know well. But that was a few months ago. I may be a better trader now. So I decided to trade stocks in play that I like for the next two days. 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 89% What I did good today: Stayed on the 1 trade/day restriction, though FOMO was high. What I am grateful from today? That I did recover from the FOMO. Though it took a couple of hours. What do I need to improve on: Will take advantage of the trading restriction to trade stocks I usually don’t and try to learn from them.
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1 point2 October 2019 ETFC After the market was open for 30 minutes I was seeing a ascending wedge pattern on the 1 minute chart. Another bullish signs for me were: A hammer on the 15 minute chart and a false VWAP breakout. I took the first partial around HOD and the second partial at the previous day close. At that point I had around 15% left of my total position. The rest I got stopped out at break even. Had a really nice one and done trade today on EFTC. With this trade I made just under 3R. Because 3R is my daily goal I decided to stop trading for the day.
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1 point1/10/19 only 2 trades today, trying to be more selective means im not seeing anything i like at all. maybe i need to be a little less selective, ill have a play around tomorrow. 2 losers (10 min ORB, ABCD) Trade 1: after looking weak i went short near VWAP after a pullback, this wasnt the greatest setup but because i didnt catch an ORB i got in anyway. Trade 2: X was super strong at the open, it sold off and did a 50% retracement then found some support, it was a gap up with all moving averages below the price action so went long with stop below the support but had to stop out.
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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 pointVery impressive how you caught the whole move on AAPL. That's a lot of discipline to only take profit at tech levels.
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1 pointSeptember 27, 2019 - Missed this journal when doing my weekly review and notice numbers were not adding up, so I inputted the correct sample set results Sample Set Results, S P G E E 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 September 30, 2019. - SIM Day I got around 5 ½ hours of sleep. When I woke up I made the decision that if I could get through my notecards without getting confused or mixed up than I would consider trading live. Well that didn’t happen, so I decided to trade Sim. After the last couple of weeks I been struggling with the hesitation on my new strategy, so today I decided that if my setup was there and I could get an entry using a limit order at the break of the 5 minute that I would take them all. Additionally, I wanted to have some fun at the open so I decided to trade any setup I saw regardless if it was within my playbook. I wanted to have fun at the open today. In all I took 5 trades, at one point I was in three different trades at once all with range and limit orders. My first trade was on $CCL and my last exit at the end of the day when I had to go to a meeting was $CCL. I held it from 9:40 to 3:03. It chopped all day in between my stop and 1R out. Yes I had a huge stop, way too big. Overall, I had a fun day and I needed it and I got some valuable reps on entering limit orders for my new strategy. Although I only got 2 entries, I think I put in at least 5 orders that just didn’t get filled because the stock didn’t break the entry point and instead made a new high/low causing me to cancel the order.
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1 pointI would not imagine that this would be over trading... but I guess that depends on the individual and where it take you mentally.....