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Showing content with the highest reputation on 10/16/2019 in all areas

  1. 2 points
    10-16-19 changing this part up a bit, I know Mon. thru Thur. I get about 4 hours sleep and all my morning routines, so I will keep this shorter from now on unless something changes.... At the desk at 0810.... feeling a little tired.... PAT: Share Size..... Partials on instinct.... Notes: I feel like I should have partialed a bit more aggressively locking in profits..... I was trying to be more aggressive with a longer profit but should have used my targets as an all out or at least took 80 or 90%.... Took a couple early B setups with full share size..... 2 losers and 1 Win on BAC (the 5min ORB was possibly a better setup looking back but at the time I did not feel good about it) and a loser on BBBY.... -91.71 CAH PB#3,,,, B setup... took too large of share size again.... from turbo breakup scanner .... jumping on lawsuit settlement... running pretty flat.... shouldnt even be trying this here.... just gonna get out and look at it again.... -122.00 ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 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....... ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- APHA PB#3... A+ setup.... 3/4 size (looked at it as an A setup at the time).... trending the 9ema on the 2min, harmonious, under all MAs on all time frames with a reverse ABCD on the 2min.... my first partial should be at 2/1 at .84, missed it by .02 and has since been very choppy bumping on 5.00 may get stopped out,,, just getting alll out here and calling it a day... I am way over tired and can not concentrate on anything..... Nap Time.... -10.00 Cons: Too big of share size on my SIM of SIM trades.... Pros: Do like the APHA setup but maybe should have taken a partial when it got close to my first target.... Favorite Trade: Notes: R = 50.00:
  2. 2 points
    October 15, 2019 - Some days I really have to remind myself that discipline to not trade is a good thing in the long run. I am not comfortable trading high price stocks at the open, so I had a very limited watchlist at the open which did not give me any good setups. Tough to see all the high price stocks setting up nice and having great moves. Eventually I will get comfortable trading these. Sim tomorrow as I will be working off 3 hours of sleep. Hopefully Thursday and Friday brings some good setups. Sample Set Results, S P G E E P P P P G G 12 13 14 15 16 17 18 19 20
  3. 2 points
    Tuesday 10/15/2019 I had a well-being score of 6.5/10 this morning. A bit of an emotional rollercoaster today. But I feel better now. I learned a lot today. Plus, I just donated my car to charity this morning and I am getting some good vibes from that. Took 2 live trades this morning was with NVDA and JPM. I really liked both the daily and PM on both stocks. Really liked the gap between tech levels that both were sitting on. NVDA immediately had volume and found support on the 189.60 level and made a small hammer. I went long with the 192.77 daily level as my target and the 189.60 level as my stop. The R/R is too big ~7. I usually don’t do that well with that large of a R/R. But there was the HOPM 1.5R away for a good first partial. The price popped up but missed my 1.5R limit order by a few cents. Then the price retraced. By my current rule if the price moved 1R and retraces I get out at B/E. So I placed my stop order at B/E. The price came down to stop me out by 2 cents. Then the price immediately reversed and went on a 10R run in the next 7 minutes without me. My attention briefly moved to JPM where it was setting up for a 2min ORB. Then I moved back when I thought I hadn’t canceled the 1.5R limit order on NVDA. But I didn’t see anything in my order window so my attention swung back to JPM for a few seconds. But then I thought, “No I really have no memory of cancelling the order.” I looked back and the price reversed so quickly it took out my limit order and now I am shorting NVDA which is flying higher. I covered quickly for a -1.5R loss. You will also see a third trade on the chart, but it was a SIM trade (+2R). So when my attention finally went back onto JPM I missed the 2min ORB entry. But T/S were flying and I thought entering at the break of the LOTD is not bad either. The R/R is now less than 2, but the volume at that moment was great so I went short. My target was the 118 tech level with VWAP as my stop. I set my 1.5R limit order which was just above the 118 level, which was perfect. The price bounced hard at the 200MA, where I should have probably taken a partial, but I was not ready and it bounced fast. Since the move was greater than 1R I set my B/E stop. I was then stopped out by few cents. Then the price reversed and made it to my target. So two good trades both ruined by my B/E stop rule. According to the data I have collected for the last few months, stocks usually do reverse on me if they retrace after a 1R move. So I will keep that. But I need to give it more room than B/E. I tend to enter as the price breaks an important level. It is my style of trading. Which means there is a good chance the price will find support/resistance on the level I chose to enter the trade. So it is not a coincidence I keep getting stopped out within a few cents. My B/E stop hot key uses the AvgCost +/-2 cents. I added the two cents to help with the fill slide. But that makes the situation worse. So I rewrote the script and added the opposite. So a B/E sell will be 2 cents below AvgCost and 2 cents above for a B/E cover. If I had this today, both trades would have been winners. So you are probably wondering why I don’t use a range order for the 1.5R limit order with the B/E. I don’t want to activate the B/E stop until I see 1R or a bounce form a tech level. Essentially I need it discretionary. I also need the 1.5R limit order activated quickly or I will immediately start taking partials. I usually can’t help myself and take one as early as 0.5R. Once I see the 1.5R limit order I can sit on my hands better. Though not a permanent solution I am learning to be patient. Score cards (live trades). NVDA JPM 93% 85% What I did good today: I did spot and enter two good setups. What I am grateful from today? Emotionally recovered from missing a 10R run, by S/O too early. What do I need to improve on: Rewrite B/E scripts. Careful to cancel out of unused limit orders.
  4. 2 points
    10-15-19 Up at 7:40 with 4 hours sleep.... SSS and a coffee..... PAT: Share Size.... Notes: A+ setups take at full share size with Kyles hot keys..... A setups about 3/4.... B+ at 1/2 and all others should be in a SIM...... ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 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....... ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- PINS PB#1.1 ... A setup... took about 3/4 size..... 1min ORB on a pullback and momentum to break the PML ..... Took 50% off at at 2.5/1 and out at BE.... +22.50 PINS PB#3... A setup.... took 3/4 size in three steps keeping my risk down..... my original target was LOD so I took 50% off there and then I had my sites set for 24.00, I hit my hard stop of BE.... +82.00 APHA PB#3... A+ setup... full share size.... Trending the 9ema on the 5min with an ABCD on 2min, Strong catalyst.... took 25% off at 2/1...... and hit hard stop at BE... +28.13 CGC... A setup... 3/4 size.... trending the 9ema on the 2min but a bit extended from the 9ema on the 5min with confirmation of the ABCD on the 2min, strong catalyst..... took 25% off at 1/1.... and hit Hard stop at BE.... +18.88 Cons: I feel like I should have partialed a bit more aggressively locking in profits..... Pros: Found my setups and feel like my Size compared to entries were good..... Favorite Trade: PINS PB#3 Notes: I feel like I should have partialed a bit more aggressively locking in profits..... I was trying to be more aggressive with a longer profit but should have used my targets as an all out or at least took 80 or 90%.... R = 50.00: +151.51 / 151.51
  5. 2 points
    Some great trades today Vikram! Like you, I won’t get near stocks like $SES as well as stocks that have greater than 30% short float. So many traders in the chat room choose to take super risky trades and I just don’t want to get burned by playing with fire. I ended up with a 1R day which is fine with such a low volume day.
  6. 1 point
    Alright -- you guys asked for it! I'll be doing a Tape Reading Wednesday Workshop in the coming weeks!
  7. 1 point
    Wednesday 10/16/2019 I had a well-being score of 5/10 this morning. Sloppy trading today. I am grateful I finished at break even. Took 2 live trades this morning was with ROKU and BAC. I really liked both the daily chart on both stocks (ROKU and BAC). Since they trade completely different, it was uncomfortable having them as my center focus, but I did. I also had AAPL on a side chart to look for 10/15min ORBs and YNDX since it had a small pendant forming on the daily. ROKU immediately went green to red, but I was not ready to trade it. ROKU is so choppy I needed to wait for a really strong sense of direction. The plan for BAC was to go long if it broke the HOPM with volume. So I was watching both, then I felt ROKU moved enough to short it. But, it was 75 cents away from the stop (PDC) and ROKU loves to swing way pass tech levels and then bounce. So I gave it a $1 stop all the way 25 cents passed PDC. But, since the target was the 200MA-5min I still had a R/R>3. The price started to move in my favor, but this is where I ran into poor trading. I am not sure why but I took a look at BAC. But, ROKU is the type of stock you need full attention so I shouldn’t even have looked. But, I did and saw I missed my entry and the stock was heading up. I still can’t believe I chased it and got into another trade. Two trades at once is fine for stocks I really know well, but this was not smart. So I went long with BAC as well and got filled 2R above my originally planned entry point. Not sure why I did that. There was no R/R. Now I am in two trades at once so I didn’t feel comfortable setting up my 1.5R limit order with ROKU. So this proves how helpful it is to have that limit order up on my chart. Because without it I went back to my regular MO. I started hitting the sell button like a woodpecker on steroids. Too bad because ROKU did reach my target and I only made 1R. So I am really embarrassed about the BAC trade. It was definitely FOMO. I was just upset I missed my entry so I went long anyway. My stop was the HOPM, which should have been my entry. The price went against me immediately and slowly moved down to my stop over the next few minutes. Of course 2 cents after my stop it reversed and went back up passed the HOTD. I also took one SIM trade. A 10min ORB on AAPL. I made +1R. Score cards (live trades). ROKU BAC 88% 60% What I did good today: I did catch ROKU with a solid setup. What I am grateful from today? For being at B/E after a bad day trading. What do I need to improve on: Really need to limit the two simultaneous trades, unless I really know the stocks well.
  8. 1 point
    14 Oct 2019 I only took 1 trade today on $X and I should stop as I am done with my daily goal. On 1 min chart, I saw an hammer (may turn uptrend) sitting on the 200MA. My profit target is on the 200MA on the 2 min chart and I am glad that it went over it and I manage to exit after that. Today is a Green Day and I am happy. Live to trade another day.
  9. 1 point
    15Oct19 Red day. -3r. Today I missed the Rising devil on $PAGS at the open. It is difficult to comprehend how small distractions can mess up trades esp at the open. Watchlist: $NVDA, $CGC, $APHA, $PAGS and $ROKU (added later on a news) Trade 0: $PAGS, the one I didn't take. Few seconds after the open, $PAGS setup for Rising devil, I was going to enter and the alarm went off. That is enough for me to miss the entry and 4 points move. I didn't want to chase it, moved on to $ROKU. Trade 1: $PAGS. Later, as i noted the stock pulling back to VWAP, took short. After one partial, it formed double bottom and stoped me out. Today was not going to be riding till close. $PAGS receovered later. Trade 3: $ROKU. After FOMO on $PAGS, i moved to $ROKU. May be I was pushing for a setup, got in early on ORB. stopped out. Long again after the 1min engulfing and breakout, stopped out again. $ROKU takes time to settle down, after the VWAP bounce at 9.51AM it moved 10points till close. Trade 4: $PAGS. $PAGS setup for the VWAP bounce TT (the one I missed on $ROKU), Took long and partiled at daily levels and at 200MA 1min. It was also and ABCD after bouncing off VWAP. Good: i didn't chase entry on $PAGS. No revenge trading. Improvement: I think $ROKU is a FOMO trade. I was pushing for entry, instead of waiting for the setup at the open.
  10. 1 point
    October 14, 2019 - A very slow day without a lot of good setups. I sat on the sidelines in the morning as I didn’t get any good setups from $FAST, $YNDX, or $FCX. I came back for the afternoon session and it was terrible. I could almost look at some stocks and see the computers trading them. I choose to just sit back, watch the charts and look at volume compared to the price action. I really wanted to get a trade in today, but was not willing to take a bad trade. Looking forward to tomorrow. Sample Set Results, S P G E E P P P P G G 12 13 14 15 16 17 18 19 20
  11. 1 point
    Monday 10/14/2019 I had a well-being score of 6.5/10 this morning. I moved my fixed R to $10/trade while I figure out the sweet spot. High enough to feel the uncomfortableness of live trading, but low enough I will trade smartly. Took 2 live trades this morning was with YNDX and FAST. Backtesting showed AAPL and BABA are no longer in play at the open. Sadly there was enough data by last Wednesday to show this. I will backtest charts daily from now on and use the last 5 days (moving average) to determine the plan going forward. This would have save me two days of double stop outs. But, AAPL has made really nice 15min ORBs all last week and BABA still in play at the 5min mark. So Both stocks are off limits at the open. I can look at BABA at the 4min mark and AAPL just before the 15min mark. YNDX and FAST were on my opening watch list, with MU and BABA on my 5 min watch list. AAPL was on my 15min watchlist. My attention was entirely on YNDX at the open. I like it was the only stock I saw gapping up and it was gapping up more, with volume, right before the open. I already planned if it broke the 31.05 level with volume to go long. Which it did 2 seconds after the open. I usually wait a few seconds for the price fluctuations to settle down, but the L2 looked positive so I went long immediately. The priced spiked during my fill and I immediately lost 20 cents on the fill. For a $30 stock, it is pretty much game over. But since I was so close to the open I did go half share size. So my risk was still just above 1R and my R/R still OK. Too bad the price retraced back and I could have gotten a better entry a few seconds later. Live and learn. So I was long YNDX a few seconds after the open with HOPM as my target and the daily level of 31.05 as my stop. Due to my bad fill it didn’t feel promising to take my first partial at 1.5R and instead I took 25% at 1R. The price than retraced and I was all out at B/E. FAST actually setup while I was trading YNDX. Though I will take two trades at once with stocks I know well, I wouldn’t dare with these. After my YNDX trade was over, I did miss a move with FAST, but there was still a lot I liked about it for a 2min ORB. The candles were creating a mini ABCD and even though the stop would have to be far away, the 200MA-1min was right above my 1.5R and the PDC at 3R. So I was long with PDC as my target and VWAP-1min as my stop. The price advanced quickly and I took a 25% partial at 35.85 which was a really strong level, since there was a daily level, HOTD and the 50MA-5min. Then the price moved higher and bounced really hard off the 35.93 daily level. So hard I took another 25% partial because I just lost faith in the trade. Then all out at B/E. Then I did well in SIM. I took a 5min ORB on BABA which made it to 1.5R partial than out at B/E. I also took a SIM trade with AAPL for a 15min ORB which really ran. Score cards (live trades). YNDX FAST 86% 95% What I did good today: I like how I managed the FAST trade. What I am grateful from today? +0.6R is not that much of a day, but it was a lot of fun trading new stocks. What do I need to improve on: I will move my backtesting from weekly to daily. I just have to be careful not to make decisions on one point of data. Need 5 min. So I have to use the backtest data as a moving average.
  12. 1 point
    10-14-19 Up at 0740 with a little over 4 hours sleep. Fell ok..... SSS and a coffee.... read a bit in the Playbook.... PAT: Share Size Notes: Pre 5min setups must be A+ for "Live" trade..... Any PB#1 ORB setups must be A or A+ for a "Live" trade..... Keep working on proper trade management.... Will cut out for a bit to go get my Live account ready to go..... SES Took a couple scalps on this Low Float just trying things out.... I missed one good move that I wanted to trade so I went ahead and took these for practice in SIM of SIM.... one win and one loss +26.75 ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 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....... ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- FAST PB#1.1 (A+ setup) ... 2nd day play Strong stock that gaped down looking for a long position.... Took a small share size on purpose as these are still a little foreign to me.... The 1minORB broke VWAP and with nice ASKs on LVL2 and Tape prices going up, decided to add here then some quick scalp partials and all out at BE.... +21.50 FAST PB#1 (A setup) the 5min ORB candle was a bit extended for me keeping this from an A+ setup, confirmation on the 1min ABCD.....I kept the share size a little bit small even after the add ons as I did not feel this was an A+ setup..... I added in at a very bad spot and got filled even worse... I do like the second add... I partialed out a bit too much so I added in the amount I did not want partialed ..... all out on a new 5min low.... +29.00 Trades 3 and 4 were PB#3 which I would grade both at B+ or A..... I took full share size on these which in hind site maybe I should have stayed small here also... One I got stopped out on and the other I partialed and all out on BE.... -32.40 AMD PB#3 (A+ setup).... trending the 9ema on the 2 and 5min breaking the 200ma on the 5 and 15min, looking for the 50ma on the Daily.... I partilaed on the way up leaving myself with a little just incase it breaks out over the 50ma on the Daily.... stopped out on three consecutive 5min lows and below the 9ema on the 5min.... +86.70 Cons: Just work on Share size a bit more Pros: Found good setups in this choppy market today.... Stuck to my rules and felt good ..... Favorite Trade: AMD PB#3 Notes: Work more on share size R = 50.00: +131.55 / +104.80
  13. 1 point
    October 11, 2019 - $JD A slow grind today on $JD. I got into the trade because of the volume and price action when it rejected VWAP. $BABA is to expense for me, so I choose to add $JD to my watch list instead. Got my 1R partial, set my range order and just missed the fill at my profit target. I let it go a couple more minutes but when it couldn’t pop back up I got completing out. Not a bad trade. Numbers weren't adding up on this sample set so I had to go back and see what happened. I missed entering a trading day in which I got stopped out twice early. I went and adjust all the sample set results to correctly reflect the results. Sample Set Results, S P G E E P P P P G G 12 13 14 15 16 17 18 19 20
  14. 1 point
    I am almost at my 1 year trading live anniversary. Time to evaluate if it is worth continuing this journey. I was in SIM for 6 months, so I have been trying to learn day trading for 18 months. I always planned to access my progress and evaluate if I should continue at my 1 year live anniversary. It has been quite costly in time, so it is a serious consideration. Though I feel like progress has been made in my trading I don’t see any change in profitability, so it is not an easy decision. But with some reflection, this week, I realized it is better to look at this more holistically. The change in my personality (for the better) has been dramatic. I would even say transforming. Especially, the last few months. I see improvements constantly and I would not want that to stop. Waking up at 5am and forcing yourself to face your fears, endure stress and muster the strength to make changes in yourself to improve creates dramatic results. Let us say I went a different path and started working on starting a business. I would have worked on prototypes, a business model/plan, and presentations for funding. For the most part not stressful and no internal improvements would have been made. If I feel off that day, the worse thing is I program the 3D printer wrong and the part is thrown in the trash. If I feel off while trading I could go tilt and lose a large part of my family savings, permanently altering our lives. A much greater incentive for personal growth in the latter. I like this growth in myself and I don’t want to stop. That alone it is worth continuing. Now if someone walked up to me and asked if they were training correctly, and they showed me my training plan for the last 18 months, I would say no. So way am I training this way? If you get a couch potato and you want to start training him for some track/field event, would you spend 10 minutes a day practicing in each decathlon event? No. But that is what I did. I set up my platform, and started trading different setups every day. Hoping I would get good at one of them. I would have recommended to the couch potato to first put the mileage in running. Then hit the weights. Improve your flexibility and get on a sensible diet while reading up on the events. So why didn’t I do that? And worse why am I not doing that now? Yes, I am trying to improve on some of that, but looking objectively I am still training wrong. So first I listed what I should have done the past 18 months, find the deficiencies and then I will create an appropriate training plan. So here is my should have done list: 1 Education Read enough to know you have a serious interest. Read enough to learn what next to read. Read enough to know what platform broker/SIM to use. 2 Get fit Physically (exercise and diet) 3 Get Fit Mentally (Decrease the incoming stress, able to handle stress and methods/activities to alleviate the stress). 4 Business plan Do you have at least two years to learn? How many hours/week can you devote? How much disposable cash reserves do you have to cover expenses and losses? 5 Set up Trading equipment. You can be frugal, but don't be cheap. 6 Training Plan 6 months SIM. Training during market hours and training after market hours. Mental and physical fitness should be part of the training plan. Also reading, webinars, etc. 7 Trading Plan What time of day do you want to trade SIM, for how long? Chat on/off? Risk? Max loss? Max trades? These should all be decided in SIM 8 Learn the platform in SIM Make a trade, partial and stop. Don't leave this phase until hotkey mistakes are <10% of the trades 9 Exploration phase You need 3 trades in your playbook, though only one needs to be solidly profitable. 10 Dip your toes into live trading Once hotkey mistakes are reduced and you have at least on setup in you playbook, you should go live at least once a week with very small share size 11 Discover trades that fit your personality Nothing works? Or some setups do work but you are completely stressed when you take them? 12 Reread trading books, especially psychology The books will mean more after being in SIM awhile 13 Revised trading plan At least the last month of your trading plan should mimic your live trading plan 14 Choose 3 setups Not just the one's that have worked the best, but the one's you feel the most comfortable taking. 15 Refine trades You should be now taking trades like they are live. Once you do this you will see adjustments are needed. 16 Revised trading plan This is the live trading plan, risk, max loss and max trades need to be written in stone 17 Revise Business plan If not yet, trade losses need to be in your business plan 18 Go live 50% I assume, in the beginning, you will hit max trades quickly then switch to SIM. Also make sure you take some SIM trades on setups you are still working on. 19 Work on nerves Reread psychology books, they will make the most sense once you are live. 20 Test risk management Even if you lose every trade, your losses should be manageable. If not work on risk management. Do not go past this step until complete. 21 Go 100% live Once risk management is solid, go fully live. 22 Increase fixed R Find the risk you are comfortable and slowly increase. Stay within comfort zone. With that in view I didn’t even get through step 3. In the Van K Tharp course I am taking, they give you a test to check if you are ready to handle trading. There are essentially 3 parts. How much stress is in your life now (can you handle any more like day trading)? How well do you handle stress? Do you have methods to efficiently alleviate the stress? I failed this so badly I was below the bottom of the scale. So I should have known and fixed this 18 months ago. Now I have made progress and I do noticed my nerves are better when I trade. I have set goals to improve it and I have listed those in another part of the forum where I journal the Van K Tharp course I am taking. But this must be my top priority. I am so glad I created a business plan or I would have quit when I started losing lots of money when I went live. Because I assumed I would have losses and had it in my business plan. Though I spent 6 months in SIM, I never really made it through step 8 (know the platform) or step 9 (exploration phase). I use to make 2 or 3 hot key mistakes a day. It completely disrupted my trading and was a big impact in learning how to trade. I should have spent all my time fixing the issue before moving on. This issue is fixed now and my hotkey mistakes are low, but that was a waste and caused undue stress. As for step 9, I left demo without any working setups. I tried and nothing worked. Then I chose the 5min ORB and heavily practiced it on DAS SIM and tradingsim.com with little improvement. I finally left demo just to try another platform to see if it would help my hotkey mistakes. It did. I wish I did step 10. I do recommend it for new traders. Step 19 took a while to fix (nerves). Rereading Trading in the Zone and Daily Trading Coach after you go live has much more of an impact. I tried reading lots of other books to help, I found most not useful. I did finally find a couple that helped. Essentially, I was raised that being negative was good. We would be punished as children for acting to positive, like we are jinxing the future. If we enter a task to positive and we fail my parents would love to tell us we ruined are chances because of the positive thinking. “Laugh before breakfast, cry before dinner,” was my parent’s favorite phrase. So this was a lot of programing to change. But, I have known lucky people. They enter the situation positively and assume things will go their way even though the odds are against them. And I watch how things go their way. So this mind set can really help in trading. You don’t second guess yourself and the ability to find setups is improved. There was actually an experiment that showed this. To keep an open mind to different possibilities. If you think that something positive may happen, when an opportunity, though it may be outside the box, crosses your path, you would see it and act. I would be close minded and not see it. There is actually some data for this. I once read about an experiment where volunteers were gathered. One set of people considered themselves usually the lucky type and the second group considered themselves unlucky. Everyone was given a newspaper and asked to count the number of pictures in the newspaper. The unlucky group usually took 2 or 3 minutes to count all the pictures. The lucky group usually took around 10 seconds. Because the lucky group all noticed a big sign on page two stating, “there are 46 pictures in the newspaper.” The unlucky group were focused on just looking for pictures and never noticed the sign. You can imagine how that applies to day trading. So you need to make yourself luckier by using the power of attraction. Step 20 (Risk Management). Ok, I think I got this one. I have not lost any money in the last 8 months trading live. My trading is not very good so it must be risk management keeping me afloat. Step 21 (increase your fixed R). Definitely doing this one wrong. Essentially, I increase my fixed risk/trade, during profitable time, to the maximum I can handle without it affecting my trading. That’s not really the correct way to improve one’s trading. My fixed R is currently $30. If I go any higher the impact of a full stop out is too much to handle. Thus, I am at my maximum I can emotionally stand. But, it is still too high and affecting my trading causing bad habits. You shouldn’t choose the most you can handle you need to find a sweet spot in the training phase. If too little it feels like you are in SIM and you will trade too reckless. If too high you will trade to careful. So I need to lower my R. It will take a few tries to find the sweet spot. So I am trying to determine my new trading plan. I will need at least a week to plan and experiment. I will have it fully implemented by my 1 year live anniversary. I have decided to give it one more year. If I still haven’t seen steady progress I am pretty confident I never will and should move on. The one thing that is certain, as in all changes for the better, things will get worse before they get better. Once I step outside my comfort zone and change things up, I will take losses again. I need to prepare myself for it. I have gotten quite use to not losing money. Sorry this post was a bit long winded. Thanks for reading. Have a good weekend.
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