Leaderboard

Andrew mentioned in the chatroom today that eventually the PDT rule will change. I agree that eventually it will change, but how long will it take to change it? If we can be proactive, maybe the change will come sooner. I found this link to a change.org petition where someone is already trying to change this rule ( Change the PDT Rule - This petition was created by another James, not me). Nevertheless, I think that as a community, we should be proactive in getting this rule changed because there are many people out there with less than $25K that are missing out on possible income opportunity.

Welcome! Hopefully we can have a meetup soon in Greece!

Very nice trade on $TEVA. Looks beautiful on the 15min chart partialing nearly at the high of the candles.

25. Nov. 19 Greenday. +1.5r. It's a tough day as most of the stocks I watched didn't give me a clean large move. Watchlist: $CGC, $UBER, $PDD, $NVDA, $TSLA. Trade1: $CGC. Caught $CGC at the open when it broke the premarket high. This was the only trade I could take in $CGC. It was on SSR and couldn't trade short, sold for the rest of the day. Trade2: $UBER. $UBER had bad news, but was strong premarket near the open. I was hoping to catch a reversal, if the indications are there. I took short on the 200MA bounce with Shooting star. Got stopped out. Trade3: $PDD. $PDD gapped up and was strong at the open. I took wedge breakout to HOD at noon. AON exit at HOD. Trade4: I also took a trade on $NVDA and closed BE. Didn't trade clean, was not setting the trend. Good: Stick to my watchlist despite most of them not setting up for trend trade. Didn't overtrade. Improvement: I had great entry on $CGC. Appears, for my Add, i had LOD as Stop. This is wrong and too wide, which resulted in lesser share size. I should have kept the 2nd candle lower wick as STOP (per 3Bar setup). Missed out on a one-and-done. $UBER, i was so short biased. I should have checked the additional 1min MA cross for reversal (and 15min LL) Overall Flat day.

Monday 11/25/2019 I had a well-being score of 7.5/10 this morning. A very good learning day. Some IT issues with Centerpoint. I took 2 live trades this morning with BABA. My watchlist: TSLA, BABA, ROKU, NVDA, AMTD and TEVA. I had 3 chances to make a winning trade with BABA at the open and mismanaged each time. BABA gapped up with OK volume in PM, and has a great daily chart. But I also liked NVDA. Even though BABA was on my main screen I was eyeing NVDA at the open. I followed my usual procedure. I waited after the opening bell to see how large would be the big print on BABA. I had to be patient this morning. 45 seconds after the open a 282k print hit, thus making it probable BABA will move at the open. There were also 3 more prints that were recorded within the same second which I usually don’t put much weight on if they arrive at the same time as the very big print. Also one was green, one was red and one was white. Thus inconclusive T/S signal. At the same moment there were conflicting L2 signals. There were both large asks and bids thus cancelling each other out and also being an inclusive signal. I am not use to two inconclusive signals so I didn’t take the trade. It is too bad I had enough signals (long bias, good hammer, strong volume, 200MA showed strong support and T/S went all green). But the inconclusiveness of the large prints and L2 made me balk on the trade. Which is unusual for me. Since it was <1min I would have gone half shares with $188 as my stop. The price did hit the $188 a minute later, but with half shares I am less jumpy and would like to have think I would have survived without stopping out and would have caught the run up this morning. What the BABA looked like when I did not take the trade: My second chance, that I mismanaged arrived soon after. The price started to drop and that is when I noticed the 5min chart looks bearish with a double/triple top and 4 red candles, in a row, stepping down. So I planned to take a 1min ORBD. I remember checking L2, which was neutral, before taking the trade. So I shorted but made three mistakes. First, I did not check T/S which had a large 12k print on the ask 6 seconds before I took the trade. Thus it would have stopped me from taking the trade. Second, I took the trade with half shares, though I am suppose to take full shares after >1min. I did not think of it since I was still in <1min mode. If I would have taken full shares I would have reached my 1R where I would have taken a partial and brought my stop down to B/E and thus making a small profit. Third, once I realized I took the wrong shares I re-evaluated and saw the price break the 188.07 level and I added shares. Adding shares was not the mistake if based on breaking the level. My mistake is before I added I noticed the 12K bullish print. Not only should this have prevented me from adding shares it should have told me to take some profit and move my stop. I didn’t and the price reversed the instant I added. I tried to S/O where I entered the trade but BABA slid right through that. What it looked like when I took the trade. There was a 187.55 daily level that I was using for my target. After stopping out, BABA made one heck of a strong hammer on the 5min chart. A 5k print hit the ask and there was a L2 signal on the ask. Plus my bias in PM was long. So I flipped my position. My stop was the 188.07 daily level. My mistake this trade was I stopped out at 188.09, 2 cents above my planned stop. Not sure why I did that, but I have been stopping out early lately. At 188.06 the stock turned around and went for its strong run up without me. It is amazing how many times in my journal I wrote those words, “…stopped out, then a few pennies later the stock turned around and went for its run without me….” Then I tried to take a SIM trade on NVDA but Centerpoint had an IT issue on the demo accounts today, so it didn’t happen. What did I do good today? Though my trading was really sloppy today, I didn’t break any rules. What I am grateful from today? I am grateful that I walked away from my platform. Since I had a -2R day and my demo account stopped working which made it was very enticing to take some more live trades, but I didn’t. What do I need to improve on: There are a lot of things to watch, but the clock should be very high priority. Still having trouble using T/S and L2 after I am in the trade. I need to take early profits when I see a reverse signal. Will start taking slightly less shares on each trade. I need to give a little bit of room on my stops. Just a couple more cents could make a big difference.