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Showing content with the highest reputation on 02/11/2020 in Posts

  1. 1 point
    Tuesday, I started the day with a much better mind frame than Yesterday. +$121.75 +2.6% (+$102.25 +2.25% After Commissions) Rules Followed 5/7 (4. weekly loss is over 300, but I traded live anyway, 5. Traded 2 BreakOuts which are not listed in my acceptable strategies at this point, I might add them because I am confident in reading L2 action around resistance/support levels) Trade One 5 Min Orb: entered with very little risk just below VWAP, almost added to trade at retest of VWAP 9:55 but I decided against it. Put a .13 Trailing Stop in because I was tired of watching the trade. I should have stuck with it, it never tested VWAP again, and fell another .60 cents. Trade 2 Reverse To VWAP: Brian called this possible reversal out in the chat, I expected it to get to VWAP after not broke the MA, engulfed the 1 MIN and passed the high of the previous 5 MIN. It shot up and I took a 1/4 partial, made a hotkey mistake and took another 1/2 partial instead of hitting the BE hotkey. Then the pattern failed and stopped my remaining out at BE. Trade 3 BreakOut over 200MA on 5 MIN: This was another good idea, but I made the exact same HotKey mistake that I made on Trade2 to take my big partial way too soon. Trade 4 Daily Level BreakOut: Roku was strong all morning and was hanging out at a Daily level I marked in the pre-market. L2 showed big Sellers at the ASK (1052,600). I entered at the break and took some good partials, no HotKey mistakes this time. Trade Log: I'm not sure why some are SMAT one some are LAMP, I thought they were all supposed to be LAMP. I messaged CMEG about this. Later in the day I was tempted to make more trades but Rule 7. Lock Montage after reaching goal! So I switched to Sim and messed around, lost 1,300. I probably shouldn't even screw around like that in Sim anymore, it could make bad habits.
  2. 1 point
    Monday 02/11/2020 I had a well-being score of 7/10 this morning. I took 2 live trades this morning with TMUS and AAPL. My watchlist: TMUS, DISH, S, ROKU, UAA and AAPL. I liked the PM of TMUS, S and AAPL all long bias with the break of a PM level. TMUS setup first with a break of 93.75 price that was respected in PM. I actually didn’t have a good target, but my stop was 93.50. I got 3 quick partials before it retraced. I set stop order at B/E and my fill was terrible at 70 cents below B/E. If I got my fill at B/E I would probably have called it a day. But I wasn’t sure how little I made for the trade so I started looking for another one. After I was finished trading for the day I checked my P/L (which I restarted this month) and I was up +1R after the first trade. If I knew that I would have stopped trading. My next trade was AAPL but I took it a bit unprepared. AAPL was on a side chart and I saw an opportunity for a 1min ORB. I brought it to my montage and entered the trade immediately. I did not check SPY, L2 or the actual volume number. The volume was only 600k which is just OK for AAPL and not enough to take an ORB. Plus SPY was dropping. Yes, the price action was fine, but I didn’t give myself the couple of seconds to fully check the setup. So of course the instant I entered the trade it started to drop. I did sell all at my stop of 323.40 but my fill was terrible doubling my losses on the trade to -2R. Ouch. What did I do good today? I planned the trade before the open and executed it on TMUS. What I am grateful from today? Only being down -1R for trading poorly today. What I need to improve on? Check the setup fully. If you miss the trade while you are checking, that’s fine.
  3. 1 point
    2-11-20 AIS 0820, 4.5 hours, 5.5/10 PAT: Overtrading .... LK PB#3 ...... First trade in SIM and by mistake..... bounce off the VWAP on the 5 and the 20 on the 2, partial on slow down of the tape and all out on consolidation and reason that I am missing better opportunities +2R WORK PB#3.... first entry was jumping the gun anticipating an ABCD on the 5min.... second back at 9 on 2min and again anticipating ABCD again.... third trade was same attempt.... mistake made when I did not get out when Powell came on to speak with profit and let it run to stop again.... -4R Cons: Overtrading.... Jumping the gun..... Pros: respected my in trade and daily stop loss...... PB Trade: none Rs: -2R
  4. 1 point
    Day 24 - Feb 10, 2020 32 Tickets 5 Symbols Red Day - Max Loss 1. PINS - Short - 1min - VWAP Rejection (Chasing) 2nd day play, Huge gap and fail at earnings. Saw it drop right to 24.05 daily level and was initially thinking long at support. Started bouncing and I has huge FOMO to shorted in anticipation of VWAP rejection with stop just above VWAP and a little room. Ended up holding my loser and not cutting. Improvement: DO NOT FOMO - Wait for price discovery and let the setup form. Terrible trade management, Need to cut losses quickly, especially off a poor setup. 2. UBER - Long - 1min - VWAP Trend Trade Beat estimates and guiding to be profitable by end 2020. Broke through previous day high of 41 and came back down to test VWAP, bought into VWAP bounce and added once it confirmed and broke through 41 again. Volume dried up and I panicked and took a few partials off, and continued taking off until previous high which was initial target. 3. AAPL - Long - 1min - VWAP Trend Trade Was on secondary watch, strong push at open, then came back down and tested 317 level (VWAP and previous consolidation). Went long as it broke through previous candle high with loss of VWAP and previous candle low as stop. Went in my favor and I started selling to soon - fear of giving back profits from previous. Sold into high of day thinking could reject and come back down to VWAP. Did exactly that, would've been another great VWAP bounce off similar level - but I had to leave for work. Good: Happy with entrance on confirmation vs trying to catch bottom. Improvement: Need to have a more defined exit plan. R/R based on previous high was poor. 4. LB - Long - 1min - Chasing (Ascending Triangle - Not In Game Plan) Ascending triangle was called out in chatroom, looked like it had potential holding over VWAP with room to run on the upside. Ended up being a false breakout and got rejected real quick by moving average. Had hope this would hold at VWAP - no hold so I exited. Ended up fat fingering a hotkey and shorting/covering ax extra tier at the end (break even on mistake). Improvement: Need to stick to my own watch-list. Got excited and over traded off of someone's call - DO NOT DO THIS. 5. TSLA - Short - 1min - Failed Pop (Not In Game Plan) TSLA has been very active, short biased going in as seems overextended but realize this can squeeze hard. Was watching the 787 daily level - held a few times and finally broke. Shorted 1R at failed pop but ended up chasing it down for a poor entry, stop just above previous high. Price went against me and quickly stopped me out just over 787 (level held and ended up being a good call, just too early - Opportunity would be short once 85 is rejected and breaks the previous support) Good: Had the right idea just got in too early and chased a poor setup that’s not in my game plan. Improvement: Need to be patient, let it play out. Today's Review Took 2 weeks off and definitely felt it. Wasn't as sharp mentally, and felt quite a bit slower. Discipline wasn't there - seems as if i was over excited to be trading again and didn't follow game plan. Lots to catch up on. What I did poorly: FOMO/Over trading, not waiting for my setups, position sizing, few hotkeys mistakes What I did well: Stick to my max stop loss rule and not trade after. What I need to do: Have a much better plan for next time I am away. REPLAY - get replay going in order to multiply experience.
  5. 1 point
    2-10-2020 Unfortunately, I had to work today. I was only able to take one trade in the early morning on $LB. LB I saw a huge extended 1m candle on the market open. I immediately began waiting for it to pull back. I was hoping it would do a false break of VWAP for a really good stop loss setup however, it pulled up just below VWAP on the 1 minute. I took the trade short. Original goal was a 2R. I saw it losing steam just above my target level. Took a partial. Saw some indecision candles on the 1 minute & 2-minute charts, supplemented with a new 1 minute high. Figured it was going to probably turn back towards the VWAP again. I decided to get out of my entire position at this point. The 23.80 on the 1 minute chart in the photo is where my target was. The technical level just above VWAP at 24.52 was my stop loss. Overall, not a bad trade. I've found recently that I enjoy VWAP reversal trades for a few reasons. 1) They're pretty reliable trades. 2) The stop loss is set at a clear area. 3) It seems you can achieve a pretty good risk/reward out of these trades. I have to work again tomorrow. Hopefully, I'll be able to find the time to trade the early morning again.
  6. 1 point
    Hi Elias I'm also based in Dubai! Either weekend is fine, but could we make it Friday instead? Would be way better to meet up without having to worry about work the next day
  7. 1 point
    hi Elias, 29th is better for me.. it's good to know BBT members in Dubai.
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