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Showing content with the highest reputation on 11/13/2019 in Posts
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2 points12.Nov.19 +3.5r. Watchlist: $DIS, $TSN, $DXC, $AMRN, $CRON. Trade1: $DIS. $DIS was the best in premarket, Gappedup. Looking strong with big Asks on L2. But at the open, it dumped almost 2$ and burnt everyone who was long. I waited and entered after the Doublebottom which also coincided with 200MA on 5min. Partials above VWAP and MA. Added 2 times. First one worked, 2nd one didn't so got stopped out at BE. Without the 2nd add, I would have got another 1$ move. Still my Trade of the day. Trade2: $AMRN: $AMRN gapped up on Earnings, strong at the open and was trending after bounce off VWAP. Once I was back in the afternoon, I saw $AMRN was close to HOD with huge layered Asks on L2. Took long close to 20MA, couple of others were also Long. Took partial at HOD, target was 20.96, it never got there and stopped me out for the last partial. I could have taken another partial at 3r (20.8). Good: Like yesterday, took one Doublebottom and one TT today also. Worked out fine. Improvment: My 2nd add on $DIS was ok, but may be I need to wait for the breakout to the wick for confirmation. Overall I am happy about the trading today.
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1 point13.Nov.19 -3r. Today I addressed one of my key issues (which I will journal as part of Oct month summary soon). When I reach my daily goal, I quit trading for the day. I don't give any money back. But when I hit maxloss, I tend to overtrade (always a temptation to take one more setup, which looks sooo good). Today I overcame this, the moment I hit -3r, I stopped trading. Watchlist: $LK, $DXC, $GOOS, $TSLA Trade1: $LK. Strong earnings, gapped up. Long bias. At the open stock sold off. I took long after the 5min put new HL. Got stopped out twice. Trade2: $GOOS. Strong Earnings. Before the open stock went from Green to Red. Started selling off huge after the open. I took a DB reversal, added after confirmation of hammer, but got stopped out. Good: Today is a test of character for me to stick to my rules, when things don't go well. In the past, after the maxloss, I see some good patterns and take more trades. I made profit, but I overtraded. Today, I hope I turned a corner. Irrespective of what caused the max loss (Choppy Market, slippage, Hotkey mistake, right idea/wrong time or whatever other excuses there are) the rule is to Stop trading after maxloss. And I did that. It may be difficult to understand, but I am happier with my trading today.
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1 pointWednesday 11/13/2019 I had a well-being score of 7.5/10 this morning. Back on SIM due to breaking rules again yesterday. Today it was all about sticking to the rules. I am not concerned with scorecard at the moment. I took 2 SIM trades this morning with BABA and ROKU My watchlist today was: AAPL, BABA, MU, ROKU, LK and VIPS BABA gapped down and I was short biased. I had BABA on my main screen at the open. After the open I waited for the big print. I only had to wait 9 seconds and a 239k print hit the T/S. I large print (>150k) usually means there will be a move at the open, so I waited for the next prints which are critical to determine direction. Then 20 seconds later some large bearish prints hit at the same time the price broke down through three tech levels. So I went short, half shares since it was <1min from open. When I took the trade: The price dropped but found support at the 184.88 daily level and retraced. Then found resistance at the 185.22 level. As it hovered around VWAP for a few seconds there struck the L2 signal, with a reasonable size ask about 8 cents lower than current price. I shorted with the other half of the shares so now at full size. My target was the 184.24 daily level with 50MA-1min as my stop. I placed an order at 1.5R (to cover 50%) of my shares and waited. Two minutes later it was filled. I waited a few minutes to determine if there was any more down side then I noticed a bullish wedge was being formed. So I exited the trade well before B/E was reached. My second trade was on a engulfing on the 5min chart with ROKU. I also liked it had an ABCD pattern on the 1min chart and it could go red to green. Price was finding resistance with the 200MA-1min and the HOPM. I never seem to get a good entry on ROKU so I decided not to wait. So I took an OK entry with a big stop all the way to VWAP. When I take trades with stops less than VWAP on ROKU I tend to get stopped out. My target was the 135.80 level which only gave a R/R~1.5. But I really liked the setup and the possible red to green. I took a partial at PDC in case it bounced hard. It didn’t and punched through easily. I definitely took too many partials, but ROKU usually burns me so I was a bit quick to take profit. I did hold onto a few shares to see if the price bounce back, but sold at PDC. What I did good today: I didn’t break any of my trading rules. That is all I am focusing on right now. What I am grateful from today? I am grateful for having a winning trade with ROKU. I usually get chopped up. What do I need to improve on: I am just focusing on complying with my trading rules.
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1 pointNovember 12, 2019 $AMRN Well I failed misserably at getting my yearly recap done yesterday. I had to take care of some personal issues that came up in the afternoon, so I will look at getting it done today and posting it. I had a good watchlist for the open. $DXC, $AMRN, and $TME. I failed miserably on saying focused as a setup was generating. As the pull back on $AMRN was happening I wondered off and was looking at $TME. By the time I came back to $AMRN, I had missed my entry. Ironically, while looking $TME, I missed the short entry because I went back to $AMRN to see how the setup was doing. by the time I looked back at $TME, well you guess it I missed the entry. So it was a rough morning. I then started looking over my normal watch list and say $NVDA setting up around 1025, but just missed the entry. After that I called it a morning and decided I would come back after the President was done speaking for the day. Well, I found $AMRN with a nice ascending pattern around the same time Thor was trading it to the short side. I was looking to take it long once it broke through 20.35. I got my entry and nice pop right away. Took a partial at 1R and then set my range order for break even and 3R along with another limit order for 2R. Eventually I got stopped out at break even before the stock decided to make it move to the high of the day. As this is my last trade in this sample set, I think I am going to look at the % I take off at 1R. Looking back over the last couple months the percentage of 1R trades is pretty high. Sample Set Results, S P G E E P P P P G G P P P G P S P E P P
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1 point11-12-19 AIS 0810, 4 hours, 5/10...... normal routine.... PAT: Wait for setup and do not anticipate...... Go with my gut during the trade..... Notes: I am done with ORBs for the week and if I break this rule I must go back to SIM...... Be more specific on my setups..... Well when I was in the middle of this one trade my DAS decided to stop working and I am still building a new layout (its 1420 now) AMRN Reason2Trade This Biotech Just Gapped Up As FDA Mulls A Second Use For Its Medicine Shares of Amarin rise on favorable opinion from FDA committee RVOL over 3.0 at time of trade with a 35% Short Float PB#2 turned into PB#3...... A setup on entry.... as this went down I was looking for an opportunity to get in on the Short Squeeze... I waited for it to break VWAP for an entry of 1/4 size and added another 1/4.... took 50% off then another 25% at BE to reduce risk, added in yet again 1/4 but a little late and all out at BE.... the second trade was 1/2 size and a trend of the 9ema on the 2min took profit and all out on my phone as my DAS stopped working..... My R/R on the first was below VWAP and HOPM and on the second trade it was below the 20ema on the 2min and HOPM.... both of these were in excess of 2/1 ..... Room for improvement..... If I trusted myself more I would have been in .10 earlier on the first trade...... I should have took profit when it hit HOPM and my goal (I was a little preoccupied as my DAS was starting to give me problems here..... +14.35 Cons: None that I can think of now... Pros: Took the setup that was planned before the open.... Favorite Trade: AMRN Notes: Maybe start scaling up back to 1/2 size for A setups and full size for A+ setups P&L Goal $50: +14.35
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1 pointTuesday 11/12/2019 I had a well-being score of 7/10 this morning. A big rule breaking day today, will be back on SIM tomorrow. I took 2 live trade this morning. Broke rules on both and was stopped out on both for a -2R day. The last time I had a rule breaking day I was down -15R in under a minute, so I guess I survived today with less damage. After my two trades I had to quickly shut off my platform and walk away. Rules broken today: 1) I did not complete PM checklist. I did not perform my morning reading through my list of rules and trading plan before the open. 2) Do not trade AAPL with a 1min ORB. I did and was stopped out. 3) Do not trade full share size when taking a trade <1min. I went full share size on AAPL. 4) When a bad fill makes your R/R<1 then exit the trade. I got a bad fill on BABA (which is not uncommon). I stayed in the trade. 5) After any partial profit, bring stop back to B/E. I had my mouse on the B/E stop hot key but couldn’t get myself to press it so I was stopped out at -0.8R instead. Plan for the rest of the week: SIM on Wednesday Break no rules. This needs to be completely flawless. My rule breaking has been poor in November and certain rules have always been bad. It is time to correct that. I will not move on until breaking a rule feels completely foreign to me. Score card and P/L are now meaningless. Making a good trade is now completely based on following rules. If I take B minus setup and partial too much, but followed my rules, then it is a good trade. I have no discretionary rules. Like only take A setups. That is too subjective. My rules are very clear cut. So I can still have a rule following but sloppy trade. Until I get this following rules issue fixed, that will be a satisfactory trade. If I am down -100R by the end of the month, but followed my rules, it was a good month. If I instinctively follow my rules it will be easy to adjust my trading for better profits later. I need to finish my training plan for the the next 12 months. After my big rule breaking day last week I have stopped working on it and tried to deal with the tactical planning instead of strategic. I will post the plan soon. I realize now I need to simplify it. If I have a solid rule following day on SIM I can trade live the next day. Break any rule, back on SIM the next day.
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1 pointHey Skye, I have a hotkey that you can double click the chart, hit a hotkey and it will buy the correct shares and set a stop. I also have a separate hotkey where you can double click your stop and it will put a range order in for 2:1. If you’re interested in either of these let me know. My biggest project now is trying to figure out how to combine the 2 hotkeys into one. I would like to double click my chart at the stop, hit one hotkey and that will enter the position and put a 2:1 range order in. Let me know if any other this would help you out. Thanks !
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1 pointI uncovered some sort of bug in DAS that lets you add new rows to a watch list without having to use the right-click menu. It can save time depending on how fast your keyboard skills are. Here's a GIF of the steps: I normally do this first thing every morning to quickly add 20 rows before building my watch list.