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Showing content with the highest reputation on 12/22/2019 in Posts

  1. 1 point
    Friday 12/20/2019 I had a well-being score of 5.5/10 this morning. Caught a cold from my daughter, but mentally OK. I took 2 live trade this morning with BABA and X. My watchlist: BABA, MU, X, NVDA, ROKU and KMX. I am getting a bit bored trading BABA every morning so I was hoping to trade something else. But I did like how it was selling off into the premarket. The 5min chart looked bearish before the open. Instantly after the open there was a mild bearish signal in the prints and L2 (10k below the bid see image below). Plus, a bearish candle so I went short just 5 seconds after the open. My target was PDC with my stop at 211.60. The R/R was too big and I usually don’t do too well with large R/R at the open. The chart when I went long. Note the bearish L2, prints and 5min chart. After touching my stop and 2 minutes had passed I started losing faith and covered a few shares to lower my risk. Then I placed a limit order at 1R and waited. Soon after my order was filled. 2 minutes later I was all out at B/E. My next trade was X. X gapped down in the PM and the 3rd 1min candle was large and bearish. I liked that the price respected the PM level of 12.10. The price went back up to VWAP and bounced lower and I went short. I thought if it could break the 12.10 level it may run. My target was the next daily level at 11.75 with VWAP and my stop. I knew again the R/R was too big. I was able to take a couple of partial profits but it never ran. I exited the trade when it made a double bottom. What did I do good today? Covered some shares to reduce risk and exited trade early. What I am grateful from today? Trading something besides BABA. What I should improve on: It may be time to remove BABA from my watch list. I think I have learned all I can from it. Yes, I am consistently earning about 0.5R every morning from it, but it will inhibit me from becoming a better trader. Unless it is heavily in play that morning or slim pickings on the watchlist, I will not have it on my watchlist.
  2. 1 point
    20/12/19 traded 3 things today with a little more patience but still not perfect. NKE tried for a breakup due to my bias but thankfullt stopped after that 1... then tried for a reverse ABCD after finding some resistance, i added more when it looked like it was breaking but came back to my start and didnt want to risk giving anything back so got out. then took the same trade again being stupid and so got out straight away. TSLA i took long after a strong 2 min open but flipped my position as the tides turned and got a good move down and a couple partials at a support level, then a descending triangle formed so i added for the break and took quick partials then out at my second add not giving any back. after it made it rejected VWAP i shouldve been thinking its a short but because its TSLA i was looking for a long. again stupid bias, stopped out. NVDA trade of the day. again thanks to the 15 min showing a clear up trend and i was expecting a break. tried to get in once a bit to early and stopped out, but once it rejected the 9 on the 5 and the 50 on the 1 i got in again, tight stop and got a nice big move knocking out all the sellers.
  3. 1 point
    December 18 - $AMD Today my focus was on trading the same way I traded yesterday, as I traded well but the outcome just did not go my way. I could only trade the morning as I had marathon meetings at work, so I was very aware of my urge to force a trade. I was able to hold off on my orbs as the setups were not there. I than had $AMD setup the same way it did yesterday with the same setup, so my mind was telling me not to take the trade as the result yesterday was negative. I recognized this and made the conscious decision to take the trade on the break of the price level and see how it worked out. It made a move and gave me a 1R partial than moved back to my break even point. The art of probabilities at work. Same setup, different day, different result. Great trade to re-enforce the reality of probabilities. Looking forward to tomorrow. Sample Set Results, G S S G S G S [P(S)] P S P G S S P 16 17 18 19 20
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