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Showing content with the highest reputation on 12/03/2019 in all areas
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2 pointsNovember Month Summary. Green month. +21R. I can increase my risk by 10% next month. Positive points: 1. P&L: I have been going Hulk on the last 2 days of the previous months, In fact I would have had pretty decent months in Aug and Oct, if not for my last 2 days of trading. Result: I was conscious of this fact in Nov. Thanksgiving holidays probably helped a bit too Final monthly P&L (in R) P&L for the last 2 days(in R) Aug 19 -2,00 -9,00 Sep 19 -10,00 -6,00 Okt 19 -2,00 -12,00 Nov 19 21,00 -1,00 2. My key issue from previous months has been overtrading beyond my Maxloss. Result: For Nov-19 my maximum loss on a single day is -3.5r. 3. I have been taking setups which are not A+. I have been trading a lot at the Open and trading just bias. Result: I restricted my setups for the Open and reduced taking setups that are not A+. My winning % is at 51% (second time in a month, where I had more winners than losers - other being my first month in Apr under PDT) 4. I have been overtrading a bit. I wanted to control this in Nov. Result: I had 280 trades in Oct, this has come down to 127 in Nov. Althought I am overall happy about this month, there are many areas that needs improvement. Improvement areas: 1. It is said that the first 6 months data doesn't matter much(after going fully Live). I am hoping to keep a check on my rules, guidelines and strategies going forward and achieve consistency. 2. My winning % need to improve. My goal is 60%. Accuracy dramatically increases the final P&L. 3. I still take some trades which are not A+. I need to avoid this. 4. At the open, I still took some trades based on price action and bias, I am not supposed to take them. 5. Need to practice more L2 based trade management. 6. Need some high RR setups, as I think this fits my style more.
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1 pointWhen a stock is in SSR it means the stock is in “Short Selling Restriction” (SSR) mode. SSR is triggered when a stock is down 10% or more from the previous day's close. In this case, regulators and the exchanges restrict short selling of the stock when its price is dropping. You can only sell short on the ask, you cannot sell short directly to the buyers (on the bid). It means that the priority for selling is for the sellers who currently hold positions (own the stock), not for the short sellers who are wanting to profit from the downward movement. If you want to sell short, you have to queue up on the ask side and wait for buyers to come to you. Real sellers, on the other hand, can accept bids from buyers and get rid of their positions. The SSR is designed to give the real sellers, who own the stock, a priority to sell over the short sellers on the market. So, when a stock is in SSR mode, you need to send your orders to sell on the ask, and then wait for an uptick so your orders get filled. One way to do it is using these buttons in the montage so you can send a limit order to a price range and wait to get filled when the stock is in an uptick. It would be great to hear advice and tricks from BBT members on how to go short on SSR stocks....
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1 pointDecember 3, 2019 -$JD I had a major bias today to the short side. I think I finally got my platform back to working at the open. The few days I had some issues. I didn't take any Orbs as I just felt the market was chopping around. After the half hour mark, I saw $JD testing a price level just above VWAP with the moving averages on both the 1 minute and 2 minute charts looking to cross. I entered long on the break of the price level with moving average cross on the 1 minute. I had to force myself to go against my bias as I really was having trouble taking a long position. I took an early partial because I was so biased to the short side, and the market was choppy. Plus the partial came at a moving average on both the 2 and 5 minute charts. I set my range order for just under the HOD and got filled. Overall good trade. Sample Set Results, G S S G 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
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1 pointHey Mark! Welcome to BBT! That's very interesting and so true. Many that try to learn to day trade to support a certain lifestyle are likely not to make it very far. Trading is something that takes time before the reward is received and consistency is build. And if people start with the pressure to make a living out of it immediately usually end up failing and giving up. Glad that you are aware of those pitfalls. Smart approach to try it out for couple of months and see if this is for you. We know trading is not for everyone but if your going to try it give it your best shot and see where it takes you. Once again welcome!
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1 pointHi Folks, My name is Mark and I currently live in Vancouver but am originally from Scotland having moved to Canada 24 years ago. I recently retired and have been looking for a second career that I can make a little money, have some fun and learn something new. I worked in the software industry all my career and spent seven years building software to value derivatives - in that time I knew lots of people who left to day trade and not one made money at it long term (or at least not enough to support their lifestyle). I joined to learn as fast as I can from those gone before me and to figure out in these next 3 months if trading is for me, Cheers M
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1 pointHi everyone, My name is Kristof I found this community about two month ago via my friend. I read the "first book" of Andrew and study hard beside my full time work. (cab driver) I live in the UK for 9 years , I`m a Hungarian dad of one beautiful girl. I have never traded but as I am a super excited learner I hope will get there soon. See you in London and in the chat.
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1 pointMonday 12/02/2019 I had a well-being score of 8/10 this morning. A new month. I will be solid this month with no rule breaking. I took 1 live trade this morning with BABA. My watchlist: BABA, ROKU, CVLS, MU and APA. BABA I was short bias’d this morning. But BABA had some major levels both above and below it, so I was worried it may bounce around. I didn’t have to wait long for the opening big print. 17 seconds after the open a 355k print hit T/S which hints that there may be a reasonable move at the open. I waited for the next prints. My rule is at least a 3 second separation after the big print to use any other prints as a signal. Five seconds later a 5k sell at the bids 16 cents under the big print. For BABA I need to see at least 15 cents separation from the second print compared to the first large print. So it was good enough to be a short signal but not enough to enter the trade. At the same time a small bearish L2 signal appeared. But not strong enough of a signal to enter the trade. Then the price broke both the 198.41 daily level and the 198.30 tech level. So I went short with half shares since it was <1min from open. The 1min chart when I took the trade: The price bounced around a little, but I was still short bias’d so I took the other half of the shares as a 1min ORBD. My target was $197 and stop of $198.50. I did set a limit order to cover some at 1R, but I turned it off since it looked like it will easily reach it. I didn’t partial very well. Too often and though I tried to look at the spread I was not very discipline to take partials based on the ask and of course got poor fills. I finally held onto some shares if it reached my second target (195.59 daily level), which it did. Then I exited the trade with a bullish L2 signal. What did I do good today? I did not break any rules. What I am grateful from today? I am grateful that BABA gave multiple signals to enter the trade. What I should improve on: It seems I always need a limit order to mentally aim for and help prevent taking partial profit too often.
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1 point12-02-19 AIS 0800, 7 hrs, 7/10 PAT: A or better setups... read sticky.... Notes: No voice chat before 1000..... ASLN Reason2Trade.... On scanners... RVOL was 8.0 at time of trade.... + preliminary results.... PB#2.... a setup... 1/2 size..... moving with volume and breaking VWAP..... bounced off a PM level..... in at 6.86, stop 6.74 below VWAP, target 7.31 Daily level..... took partials on the way up without a good clear sign only on the fast price action.... got halted..... resumed to a sell off to which I partialed towards the top and all out above BE...... +2R CLVS Reason2Trade.... On Scanners.... RVOL 3.1..... General news for sector..... PB#2..... A setup..... 1/3 size..... Was looking for an entry and when I turned my attention it made the move I wanted.... waited for a clear sign for an entry using the 2min ABCD... breaking above VWAP with increased volume..... in at 16.15, stop at C 15.91, target at 16.50 for PMH and large ASKs stacked to that point..... I was late on the first pop and partialed on the second then all out on LVL2 changes and price action slowing..... +.3R Cons: Probably could have done without the CLVS trade but I did take a very small size.... Pros: Took the trades that setup the way I wanted them to and did not hesitate Fav. Trade: ASLN Notes: Out for the day with two trades.... Rs: +2.3
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1 pointThank you for your posts over the last year and this evaluation. It is amazing how methodologically you work on this, I have not seen this very much over such a long period of time (13 months) Reading that your plan is 5 years really is amazing, one comment is that you must not forget to include your `missed opportunity cost`. Imagine if you would have a side job you enjoy but get paid $20 per hour, how much money would you have missed by being active in this venture? Since you approach this as a business this must be included imho. Good luck and thanks again.
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1 pointHey Rowan, welcome to the community! Yes you are correct. If you are short and you enter a RANGE Order it will react as you described the High Price will now be the STOP with a Market order and the Low Price will be executed as a LIMIT order.