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Showing content with the highest reputation on 10/22/2019 in all areas
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1 point10-22-19 AIS 0815..... feel ok with 4 hours sleep..... SSS, Coffee.... PAT: SIM / Live Montage.... Patience..... Notes: Took another Trade on YNDX yesterday afternoon and ended up a decent winner bringing my loss significantly down..... I think I will not SIM trade at all today as to keep from making montage mistakes..... BMY PB#1...... A setup..... took 1/2 size due to it being an ORB (was only 28 shares due to large stop and 1/2 size of an already drastically lowered R value from going live)..... 5min ORB with a beautiful ABCD on 1min........ Held through my Target of 57.00 which may be a mistake (I feel here that the very low risk may be too low as I probably would have took 1/2 off at 57.00 and moved my stop to BE for a trend), I am hopping this turns into a trend trade..... Its looking like its gonna stop me out for a -10.00 loss instead of a 14.00 profit.... a swing of 24.00 on a 10.00 stop...... hard stopped.... My total risk was 10.00 on this and I feel like it may be too little as I feel like I was gambling on the Trend instead of locking in my profit at my Target and letting 1/2 run for a possible Trend.... -9.80 Took a second trade for a reversal and totally against my Rules which is only out of my playbook (this is not in my playbook) stopped out.... -14.30 And yet another Trade PB#3....A setup.... full size.... ended up getting stopped out above the 9ema and 200ma on the 2min.... this is the end of my day as this is 1% off my account.... -16.00 May be a bit of over trading here but I did take BMY again for a PB#3 trend... took full share size (what I was used to in SIM) and used my normal partials +32.77 HOG PB#3.... B+ setup.... took 1/2 size due to grade of trade..... stopped out at hard stop..... -11.28 DUST PB#3...... A setup... a little extended from the 2min for an A+...... Thought I took full size but I ended up with just a bit above 1/2....... took 1/2 off at 1 R...... and stopped out at BE.... +5.00 Cons: Small size had me gambling on BMY..... struggling with proper size..... Pros: Did have a nice entry on BMY but mismanaged it (Gambled).... Favorite Trade: BMY PB#1 (mismanaged but a good entry and setup) Notes: A and A+ setups use 20.00 stop loss..... Think I will take it easy between 1030 and 1200 as this has been my worst trading time.... -13.61
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1 pointIn new DAS Trader version the option is located here right click chart > Chart area>Config Area> Show trades/Show orders
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1 pointHahaha. I'm so glad you had a good time. Dont worry, your jacket is enroute to you and you'll never have to be cold again!
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1 point21.Oct.19 Green day. +4R. Today I had a better day. I am going to keep this journal short, as I am travelling. I may not be able to trade the next couple of days. Watchlist: $AAPL, $AMD, $HAL, $YNDX. Last earning season, I did not trade well, partially due to having so many stocks on the watchlist and not watching one particular stock. This time, I made sure, I finalize only 3-4 on the watchlist and observe one at the open. Trade1: $AAPL. $AAPL gapped up and at ATH. $SPY also gapped up, I had a key level at 238.2. Trade 2: $MU. $MU also gapped up. Had a nice entry at 10.05, that I missed. Later took a long at 20MA (1min) final partial at HOD (also 200MA on 15min and 30min). My trade of the day (due to my poor add in AAPL). Trade 3: $MU. I also took a reversal on $MU after trade 2 that worked well (under huge resistence in mutiple timeframes). Trade 4: $INFY. Took a scalp on $INFY once it bounced off VWAP at 12 Noon. Good: Whatever setups I took in Real and SIM worked out perfectly (including $AMTD Earnings Play). I was calm and patient today. I am still listening to relaxing music at the open. Improvement: couple of them in $AAPL trade. Will try to improve on them.
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1 point21/10/19 ive been really ill for over a week now so havent been trading. im going live today but with the intention of only doing minimal trades per day/week and only taking A+ setups Did so well all day not taking any trades because they werent perfect and then took a stupid setup right at the end because i watched so many of my good trades pass. Trade 1: basically took this trade because there was a huge seller at 45, if anything i shouldve taken it long since it was ascending but really i shouldve just stayed away.
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1 point10-21-19 At desk at 7:55, feel ok..... Normal morning and premarket routine.... PAT: FOMO ..... Scaled down Live Trade Size...... Notes: First Day with a potential Live Trade be very aware as to grade of setups..... All of the trades thus far should have been in SIM but............ ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- This the break of SIM and Live account Trades........ ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- I did not find anything I was willing to trade in Live account but I did end up in Live positions three different time with the montage switching back and forth on me..... I now realize that the montage automatically sets to my Live account every time I choose a new stock..... Live and Learn ...... Cost me ..... -60.02 YNDX Finally found a trade I thought I liked but once I got in it, it was hitting the 9ema on the 30min over and over so I just got out at what I thought was BE.... my stop was at 9.24 for a .06 risk and I thought I was at 9.42 for reward..... After analysis I found this serious resistance on the 30min.... -10.45 Cons: I completely messed up my SIM / Live account in the trades Pros: I did use smaller share size and followed my stop when I did not have a hard stop..... Favorite Trade: none Notes: Remember Montage is on Live account by default..... -70.47
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1 pointMonday 10/21/2019 I had a well-being score of 7/10 this morning. Was on a >1min restriction this week. Took 2 live trades this morning was with YNDX and ROKU. YNDX, ROKU and AAPL were the stocks I liked the most in the PM. I liked ROKU the most but it was on SSR. AAPL’s daily chart looked great, ready for a breakout. YNDX gapped up big with lots of volume and I liked how it traded last time. Though I liked YNDX the least of the 3, I placed it on my only montage. So I actually traded all of those 3 stocks today. Two live and one SIM. All 3 setup really nicely before 1min after the open and all 3 would have been winners. But due to my 1min restriction I had mixed results. YNDX opened with good volume (but not great) and created a nice hammer and broke a daily level when it finished its hammer. This is my favorite setup. But it occurred less than 1 minute so I waited. After a minute the price passed all the obstacles and there was just open space. It did move 1% from open, but since it gapped 10% I thought t wasn’t extended. So I went long at the break of the 1min wick with 33.68 daily level as my target and VWAP as my stop. The price did move 10 cents in my favor than retraced and I was stopped out (yes by a penny as usual) for a full -1R. But that’s OK I was going to get stopped out a minute later anyway. ROKU had a strong open with OK volume (also not great) but went red to green. I was about 50 cents late to the entry, but I was still in the YNDX trade. R/R was still good even with the late entry. My target was the 200MA-5min with $130 as my stop. I set a limit order at 1.5R (50% shares) and waited. It took a minute to get my limit order filled, but then the price dropped fast and I was out at B/E. A few cents lower it reversed again and reached my target. I took 1 SIM trade with AAPL for +2.7R Score cards (live trades). YNDX ROKU 89% 92% What I did good today: Traded fine with the new DAS setup. I was patuent waiting for my 1.5R limit order to be filled. What I am grateful from today? Not trading in the first minute. Grateful for my -.3R today since I did not trade my best today. What do I need to improve on: Patience. Both setups were just OK. I should have waited for a setup with more volume.
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1 pointWhat a great time in St. Louis and meetup with some Bear Bull Traders! A BIG "Thank you" to Kurt and William for making this meetup so very special! We had new traders, swing traders, and long time traders to bounce our thoughts and questions off of. And of course many thanks to Andrew who supported all of this! I would highly recommend attending a BBT Meetup as a way to find out how our other traders approach Day Trading and get to know some of the greatest members of our BBT community. St Louis has a lot to offer as a visitor, and I was lucky enough to get out for a little sight-seeing. Thanks to everyone that came out! (It was a bit chilly without my jacket the next morning.)
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1 pointI just started the Van Tharp Institute Peak Performance Course for traders (home study edition). I really need to improve issues with my trading (fear, self-sabotage, over-trading, etc.). I think this course could really help. To place some accountability on myself to finish the course I plan to post my reading notes and assignments online. Hopefully, the info provided will help others as well. Van Tharp Institute Peak Performance Course Vol 1: How to use Risk Preface: The three stages of growth for a trader. 1) They think they can make easy money from trading. They think the most important thing to investing/trading is picking the right stock. 2) A substantial change has to occur where the trader begins to asks, “how should I trade to make money.” Thus, they start looking for a trading system that fits them. 3) The trader realizes that trading success does not come from external control, but from internal control. Controlling risk, profit/loss>1 and position sizing all comes from internal control. Chapter 1 Commitment means congruency. It means the whole person is working together for a common purpose. No internal conflicts. When committed, trading is no longer just a hobby. The moment one definitely commits one’s self, then Providence moves too. I translate that as: when you are committed to work hard, luck will be on your side. To develop commitment first you must determine your obstacles. Second, and more difficult, you need to determine how those obstacles reflect what is going on within you. The last step is deal with them. Make peace with the obstacles by making them unimportant. Below I created my personal obstacle table: Obstacle Internal reflection Make them unimportant Fear 1) Fear of being wrong 2) Fear of missing my stop 3) Fear the loss will affect my trading and mood. 4) Fear the little success I’ve had is due to an accommodating market. Once the market changes I will fail and quit. 1) Your supposed to be wrong at least 50% of the time. If you are wrong less than 50% you are scalping too much. 2) You are working the mental muscle, it will get easier. I do have risk controls, if I miss my stop I can’t lose too much. 3) If you learn something from the trade, it was still worth while taking it. 4) Have faith in yourself that you will learn and adapt. Self sabotage 1) Every streak of good trading is ended with catastrophic failure. 2) I take way too many partials hurting my win/loss ratio. 1) You will wind down your streaks with smaller share size and SIM trading. So it will end with a whimper not a roar. 2) With more trades, more data will be available for analysis to determine proper partialing. Data is stronger than my nerves. The math will prevail. Over trading 1) If you only take one trade the whole day, but it had a poor setup, you already overtraded. 1) I am having slow progress, but I do see progress. My trades are slowly getting better. I have the time to learn. I am in no hurry. As long as I have progress there is no issue. Health 1) Not enough sleep and exercise 1) My family is slowly becoming more accommodating. It is taking time but they will come through for me. In the last 6 months my average sleep has increased from 4.8 hrs to 5.7 hours a night. Still a far cry from 8 hours but again as long as there is improvement.
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1 pointVan Tharp Institute Peak Performance Course for Traders Vol 3: How to Control Losing Attitudes Chapter 4: How to use your brain We mostly receive low quality data from the markets. Psychologists estimate that 80%-95% of the information we pay attention to in our heads is total junk. So our thoughts are mostly junk we mistake as reality and the only info we get from the markets is vague concepts that adds more junk to your head. Oh boy! This means that traders do not have direct sensory feedback about their trading performance. Research shows that one of the most important attributes a trader can have is personal control. Only 10%, of the top traders, answered this question true: “I don’t have control over the direction of my life is taking.” 60% of the bottom traders answered it true. There is a large difference between the world and our experience of it. Investment success comes from internally representing events appropriately; it has nothing to do with the events themselves. You trade your beliefs in the markets not the markets themselves. Investment success requires that you develop an adequate internal representation of yourself and the market. Internal models develop through three processes: generalization, deletion and distortion. We generalize what we see or experience in the market. If we believe something about the world we pay extra attention to information that supports that belief. Contrary information is deleted. Deletion reduces the world to proportions we are capable of handling. An interesting experiment performed on distortion. A group was given playing cards and asked to recognize them In the deck there were a few abnormal cards (like a red spade). Many, in the experiment, identified the abnormal cards as normal. Some, even with a long exposure (40x what was needed to recognize a normal card) were still not recognizing the abnormal card. They saw what they expected to see. We see patterns in the charts that we want to see. We have to break through the distortions by analysis. The course now asks to take the answers from the DT (Distorted Thinking) test taken in the last chapter and the answer questions to help you evaluate your internal models. If I answered true on any DT Test question I need to answer questions listed in the course. I only answered true on 3 questions out of 15. That seems like a low number. Not fully sure why I don’t generalize much. I did notice on my trader’s inventory profile, one of the very few positive attributes I had was I take responsibility over my trading performance (or lack of it). Maybe that helps. The question I stated was true: After that one big loss, I’ve been afraid of that market. Q: How does that loss cause you to be afraid? Do not feel in control. Q: How specifically are you afraid? I feel that any trade in that market has a high probability for failure. Q: What is it about the market that scares you? I feel I cannot trust any stock (or the CEO of that company) in that market Q: Does that have to do with the market or you? Both I should always cut my losses short? I answered true. Q:What would happen if you didn’t cut your losses short? Their accumulated sum would be larger than my winnings. Q:Should you always cut your losses short? No. If you have a really good stop and indicators are still in your favor, you may miss the big move. Q:How should you cut your losses short? Ideally at break even. Whenever my account value drops by more than 30%, I get depressed. Q:If your account value did not drop by more than 30%, then you would not get depressed? Is that true? Not necessarily. If I am not seeing progress, or digression that would affect my mood negatively. Q:What specifically depresses you? Not seeing progress over a large time scale. Q:You would be fine if your account dropped by 20% or 29%? If I saw progress in my trading at the same time as the drop, that would be fine. Trying to learn how I internally represent a memory the course ask you to choose a memory that occurred yesterday. Then review it step by step with respect to the submodalities supplied in the course. My memory from yesterday occurred while my family and me were at a pumpkin patch. First the course wants to answer the questions from a visual memory perspective. Was the memory visual? Yes Visualize, did you see the picture? Yes Angle of view? From my eyes Brightness? Darker than I know it was yesterday Color? The memory is in color, but minimally Color intensity? Weak Contrast? Weak Distance from you? Closer than I know what really happen. Focus? A bit blurry Framed or panoramic? Framed Movie or still? Still Number of pictures? ~5 Self in or out of picture? Out Size of central objects? Correct human size Size of picture? ~3X3’ 3-D quality? Good Then you are asked to answer questions on how to remember while using your Auditory system. Did you hear voices? Yes Whose voices? My wife’s and daughter’s Where were the voices located? To my side and behind me Were they clear? Yes Loud? Yes What was the pitch? Realistic Timbre? Realistic Was the rhythm present? Not really Then you are asked to imagine you are on the ledge of a 40 story building, with the wind at you back. Then imagine looking straight down. What were the details from your memory on the ledge, were the feelings intense or weak? Surprisingly intense Was movement present? Yes Was it steady or intermittent? Intermittent Where were the feelings located? Heart pounding How much of your body contained those feelings? Just the chest Were your feelings warm or cool? Cool Did you feel texture? No Rough or smooth? NA Was it flexible or rigid? NA Was any pain present? No These details are called kinesthetic submodalities. Next ask to compare a time that you were stuck versus when you were resourceful. I compared when I was unable to get out of a trade on Etrade and another time I was stuck in a trade on DAS but figured my way out. My memory of both are just visual. Stuck, Resourceful Was the memory visual? Yes, Yes Visualize, did you see the picture? Yes, Yes Angle of view? From my eyes, From my eyes but a closer view Brightness? Darker than I know it was, Darker than I know it was Color? The memory is in color but minimally, in color Color intensity? Weak, normal Contrast? Weak, normal Distance from you? Normal, Closer than I know what really happen. Focus? A bit blurry, still blurry but better Framed or panoramic? Framed, Framed Movie or still? Still, Movie Number of pictures? ~3, NA Self in or out of picture? Out, Out Size of central objects? Correct, Correct Size of picture? Screen size, Screen size 3-D quality? Good, Good