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Showing content with the highest reputation on 01/08/2020 in all areas

  1. 1 point
    Hello All, I would like to welcome you to my Day Trading Journal, where I will be going through trades, thoughts, ideas, notes, stats and much much more. I am still learning and trying to figure out my own process, so apologies in advance if the posts/layouts are constantly changing until I find my way. Like all of us here, I am trying to get better and would love all feedback, good and especially the bad. I am ready for the long journey and I couldn't be more excited to start it here with the BBT Community!! Day 1 9 Tickets 2 Symbols 1. CRWD - LONG - ORB5 Long biased going into this one, opened weak but held 51. Plan was to wait for breakthrough, and retest 52 (pre-market levels) but I jumped in when I saw ORB-5min, ended up chasing filling 10c higher than should have. Original STOP was at 51.8 (VWAP at time of entry on the 1min) but I ended up adjusting into 2 partial stop losses, took half off as it broke through previous low on 5m candle and adjusted the other with a trailing stop just under the VWAP and got stopped out. Improvements : Didn’t listen to my own plan, idea was to wait for it to breakthrough 52 and then retest breakout, stock did exactly that. Would've had a perfect entry with very low risk, instead chased an ORB and missed the ABCD completely. Need to stick to the game plan. 2. NIO - LONG - Reversal (Double Bottom) Active last couple of days, gap and crap at the open down to previous day close at 3.83, looking to play this as a potential double bottom but got trigger happy and jumped in trying to catch the early reversal back into VWAP and over 4 with previous day close as stop . Scaled another 1/3 as position went my way, but quickly reversed and consolidated. Final 1/3 added as we hold higher low with stop just below consolidation. Ended up adjusting a stop to break of consolidation at 3.86. Had to go to work and ended up lowering my stops by 1 and 2 cents. Improvements: Stop being biased and let the price action decide what you do. Realize I was waiting for this bounce and try to convince myself rather than waiting to see it play out. Need to work on my R/R calc going into the transactions. Trade ideas: AMD wanted to short at 7:14 at 48.6. Head and shoulders, Green to Red. R/R isn’t great though 48.6 short, 48.8 stop, 48.4 target CRWD(7:18) looks like this is point D. Should have been buying at 52 at 7am at point C into this level at point D. Completely missed ABCD move. As you can see from the above notes...there is lots of improvement needed. Does anyone know how to bring up historic execution on chart? I am in Vancouver and at 9:00pm (12:00am EST) the chart re-set and current day executions disappeared
  2. 1 point
    1-7-20 AIS 0810, 5 hours, 5/10 PAT: Chasing..... Trade Management Notes: Set stops if a Trade goes into a planned break.... MU 2 trades PB#1 ... 5min ORB with a ABCD on the 1min and above VWAP and all MAs... stopped out at C.... This was overextended for an entry and needed more confirmation -.6R PB#2 - PB#3 ... VWAP false breakout.... entered when it broke back through VWAP on the 2min ... Share size was a little too small here.... took a 50% partial at 1R then another 50% when Price action did not look as good anymore (which was just a pause in the Price Action) ...... Added back in after the pullback... took partials at key price targets based on the L2 and T&S.... Added in on a pullback to the 9 on the 2min for a trend .... took partials at key L2 and T&S ... all out on a big pullback at 57.25 .... Got back in on a bad entry and stopped out... Tried one more time with Thor on the Chat and made me feel better about this.... took partials at levels of hesitation on the T&S... took very small size on these last trades as I did not want to risk much of the profit today..... This will be the last trade.... +6R Cons: Feel like I chased on the first trade .... Should have went in with a bit more size on the second entry Pros: Took the VWAP play when it presented itself.... Added in when Price action was looking good ... feel like trade management was better today.... Playbook Trade: MU PB#2 - PB#3 Notes: I feel like my trade management was much better today... Ill update later... gotta get ready for work... will set a range order.... Rs: So Far .... +5.3R
  3. 1 point
    Monday 01/06/2020 I had a well-being score of 7/10 this morning. I took 2 live trades this morning with CRWD and AMD. My watchlist: CRWD, TSLA, NIO, NVDA and AMD. I didn’t really like my PM watchlist. I didn’t have shares to short on the stocks on the gappers list. AAPL and BABA are on my no trade list so I can learn to trade other stocks. I had a strong long bias on CRWD and was on my swing trade watchlist. The stock gapped up in PM but was dropping as it headed into the open (which I liked). Then headed lower after the open. The big print was instant (200K) and there was also a mildly bullish L2. But I waited for the next big print. The price dropped and bounced and we got some bullish prints and I went long when it broke above the 200MA-1min. This was unusual for me since we are still below VWAP. My target was the 52.87 daily level and my stop was the bottom of the 1min candle. The instant after I went long L2 became bearish and I waited and about a minute later L2 became nuetral but the price had trouble breaking VWAP. On the 8th rejection (not exaggerating) of VWAP I took a partial to reduce risk. A minute later it hit my stop where I exited the trade. Then the price immediately reversed and didn’t look back and thus I missed the 8% run. I did hear Brian taking AMD at the open though I always get burned when I do that so I haven’t tried a 1min on AMD for awhile. But I saw the price holding onto the 48.24 daily level as support. So I went long with the 200MA-5min as my target and a really tight stop of the 48.24 level. The price did move higher where I took a quick partial and set my auto stop on B/E where I got stopped out very quickly. There was some slide so this trade was actually a slight loss. What did I do good today? I liked I took some shares off to reduce my risk on CRWD so I didn’t take a full R loss. I like my tight stop on AMD. What I am grateful from today? A few minutes after I was finished my day trading I took CRWD long on a swing trade and I did catch the big move. What I should improve on: I let my bias caused me to take the CRWD trade too early. Also, I still need to keep making my stops looser. I may be unable to trade tomorrow, so good luck to everyone. See you Wednesday.
  4. 1 point
    03.Jan.19 -2R. One good trade on $LB, got stopped out twice on $OXY. Watchlist: $LB, $LW, $OXY Trade1: $LB. HTook $LB long on 3Bar play. Got wicked out. Once the price came back to my original entry, I Long again (One of my rules, if I get wicked out, but the setup is still valid, I reenter again). Added a bit at the break of 18.5. Took one partial at 18.7 (only the add and was still holding my core position). I should have added after the hammer at 10.30AM, missed a crucial add. Partialed 50% at 18.95, added after the price bounced off 18.75. But price din't pop, so took this out. Another add after the break of 18.95, once it failed to break 19 for 15mins, got all out. Good: This is different from how I trade candlesticks or chart patterns to make 2R trades. Here I find an entry observe the price action and make add/exits at the right places and hold it as long as the setup is Valid. Improvement: Improve on Add and partials. Because my reentry had wider stop, position was small got me 2.5R. I shouldn't have missed the opportunity to add. Overall very happy with my trade on $LB, I want to make more trades like this, this month.
  5. 1 point
    Year 2020. Wish everyone a successful and a Green year 2020. I am looking to further improve my trading by being selective of the setups I take and sticking to rules (which I don't have any problems lately). Hotkey mistake is something I am addressing to eliminate this year, I may move to streamdeck after couple of months. I am also looking to improve my patience so I get stopped out if my setup doesn't workout and I let the winners run. Otherwise, the improvement plan I captured 2 months back still remains valid for 2020.
  6. 1 point
    It's been a while since I last posted. With Christmas and New years, I tried trading but it was a busy time. I did trade but as soon as I was done, I had to head out and wasn't able to journal. Had ups and downs, mostly downs. The downs have pretty much repeated today. Took a couple trades today. MU, TSLA, APPL MU Took it long at the 2 min ORB. Real bad entry. (figured the spread isn't too bad, wrong thinking) I didn't even wait for it to go back to the VWAP. Then I took it long again, thinking a pull back to the 9 MA on the 1 min chart. Looking at it now, both entries were crap and too stretched. I have learned the 9 MA on the 1 min is not a reliable resistance. The 20 is much better. But I was so close to VWAP and should get closer to that for my entry...Patience is key, this also seems to be my biggest problem. TSLA I was a lot more patient with TSLA - knowing how fast it can move. On the 2 min ORB, I waited till it hit the VWAP and took it long. I am debating if I should be stopping out sooner and not wait for the BE. But when I do pull out sooner, it bites me in the ass and it ends up going higher... I took it long again after the 5 min ORB. I didn't like my entry as I was too stretched from VWAP. Made some profit but did not wait for the BE. I then noticed (on 1 min chart) that the stock hit its low of the day and bounced off. It's usually a good sign that it will now reverse. On the 5 min chart I noticed the 100 MA and thought it was a great resistance. I used that as my stop loss, as the low of the day was too stretched. Unfortunately, It just went below the MA, 2 minutes before it decided to go up. And that has been an issue of mine, I get stopped out before the move happens. Happened pretty often in the last 2 weeks. I guess I should take a smaller share size. But man, is it ever frustrating, knowing you read all the signs properly, but it just wants to screw you over, just before it does what it's supposed to do. TSLA ended up going way past the VWAP..... AAPL Bad entry. Looked at the 1 min chart, thought it was a pull back. But it was too stretched from all the MA from both the 1 and 2 min chart. When would I use which MA for a resistance. Sometimes the 9 and 20 MA on the 2 and 1 min chart respectively are good or the VWAP. In this case the VWAP was the right resistance level. Anyways, I was stopped out and then immediately went long as I thought the 20 MA was a great resistance. After about 4 min, the stock just went sideways and I pulled out as my stop loss was at the BE and didn't want to go red. Not a good start to the year. Will learn from these mistakes and move forward - Patience and FOMO are a big issue. Thanks
  7. 1 point
    Hi everyone, Want to share my thoughts on creating a trading system. We all have goals. I think it is great. The problem is that we focus on goals without having a clear plan how to get to them. Goals are just directions. I think it is very important to focus on creating a trading system with clear steps and directions. Focus on improving that system and improving your identity as a trader. I would love to share my system, and I hope it will be helpful for some of you. Let me say a few words about myself. I started to trade a few years ago. Like many of us joined Sykes and traded penny stocks. Then I tried five more big and famous chat rooms. I was on a rollercoaster. One of my friends mentioned to check Andrew's room back in January. After watching a few videos I decided to join them. Got a life membership, and now I am here making money, but whats most important I am growing with this community. So let go back to my system... Here is a step by step what I do on a daily basis. 1. Business plan - with out a plan you just a swimmer in the ocean. It's scary and crazy. Be a captain of your own ship. But you gotta build that ship first! 2. Preparation checklist - no matter if you are a scalper or a swing trader, you can not trade a stock without knowing a float, RVOL, reading a catalyst, knowing ATR and more. 3. Having a playbook - have your setups with data collected on them. I am constantly adding charts of stocks in play to my playbook journal. Track your setups. 4. Risk management - is a KING or QUEEN not sure, always trade based of a risk. 5. Trade management - in order to know how to scale in and scale out you need to collect data. Are you good at one and done, or getting out by 10%. 4. Daily report card - track your performance. Trading is a performance job. You gotta know your mistakes, weakness and strengths. 5. Journaling - #1 thing for improvement and tracking all data. Reflect and review. Repeat day in and day out. So on every topic you have to create a detailed system, and put everything together in a way that it will be easy for your brain to navigate. You brain does not like complicated things and always trying to find an easy way. Make it easy and fun. Create good habits since the day one. Building yourself as a trader will help you to improve your personal life and the other way around. I suggest to read "Atomic Habits" by James Clear on this topic. This is a long journey, and I suggest you to take it seriously. Be a professional. Ask your self a question, "What would a professional trader do?" There is only one way to success, compound of a hard and smart work. Thanks!
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