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2 pointsDay 102 - June 8 , 2020 36 Tickets 4 Symbols Green Day Personal: Good nights sleep, meditated, read 101 daily coach in AM. A little late to premarket show, didn't complete full watchlist - but mentally felt good. Watchlist: RVOL at open BA: 280% BYND: 77% at open, but got up to over 150% shortly WORK: 237% ENOB: 50,000% ? Trades WORK (1) - Long - Reversal (-1 Not in Playbook, Manual risk entry) SPY pushing up, and had 31 level drop the bid and reclaim, took it long on break of hammer. Small position. Missed the breakdown so wanted to get back in on it. Improvement: Missed the ideal entry on the breakdown at 31.50 then wanted to get in as a revenge for missing it - ideal entry is momentum short here on break of 31. WORK (2) - Short - Technical Breakdown (-1 Not in Playbook, Manual risk entry) After missing the first short and chasing a long to get stopped out, volume was validating a continued breakdown, weak buying on the pullback and increasing selling on the breakdown. I realized this could break so got short on the breakdown against previous day low , stopped out. not following my rules - this is right at previous day low which I should have played. Improvement: Had PDL marked as well as 30.50 half number….did not follow my rules and had FOMO WORK (3) - Short - VWAP Bounce and Reject (-1 Not in Playbook, 1- Adjusted Stop, Manual risk entry) Was thinking of letting WORK go as I didn’t have a good read on it, untill we had a failed breakout and shooting star doji around the mirror level. Took it short on the rejection. Covered partial in front of 31, and the rest at Breakeven. WORK (4) - Long - Mirror Level (-1 Not in Playbook, Manual risk entry) Took WORK long off Mirror level 31.35 which was support in past. Acted as resistance troughing the day and now looks like a refreshing bid there. SPY has been on down trend, but looked like it did a double bottom bounce off VWAP WORK (5) - Long - Ascending Triangle (Manual risk entry) Struggled to break through 31.5 level but working at it with increasing volume. Finally broke through took it long. Didn’t quite get to my first target due to wide stop - stopped out on huge wick. Improvement: Ideal entry is the retest of that 31.50 level (Wick) WORK (6) - Long - Ascending Triangle (Manual risk entry) Last trade of the day, wasn’t thinking straight and got caught chasing a FOMO play on WORK…32 was refreshing over and over hit with size a few times but wouldn’t lit. Finally lifted but I didn’t want to chase. Saw it try to sell off but then get bought back up to I took it on the next breakout. Stopped out below wick. Improvement: Should not be chasing this in the final 10 minutes - absolutely no need. BYND (1) - Long - Technical Breakout (-1 Not in Playbook, 1- Adjusted Stop) Watching BYND and BA - both moving up on strength, missed the ABCD on BYND. Ended up taking the breakout. Did not follow my entry - no risk calc. Sold into the pop, then formed indecision candle on fake breakout followed by a few bearish dojis - out on the break of 143.7 which looked like a held bid dropped. Improvement: Need to have confidence and buy the ABCD Hammer - was watching it just didn’t pull trigger, wanted closer to VWAP BA - Long - Ascending Triangle (Lvl 2, refreshing offer, Hotkey Entry) Took it long into 230 limit player. Spy wasn’t helping me here so I Panicked…spy breaking LOD but looking to bounce off 200MA. Calculated move was into 234 (2R) BYND (2,3) - Long - Asymmetrical Triangle (Add on momentum, -1 Adjusted Stop) Took it long on the break through 144 on large vol, looking for it to break through HOD+. Consolidated a little more and gave m a chance to add - should have taken it. Broke out and covered into HOD in front of 145, and then broke out again but formed indecision candle with extreme volume - covered another 1/3 thinking this could be the top. Then covered final Infront of level I had marked on the daily (monthly high). Consolidated around that daily level but seemed a little extended so I took half size into the APEX, and added a momentum lot as we broke out. Covered a little too quick into HODs, and adjusted stop. Had extreme volume but small wick - showed anomaly so I tightened stop and got stopped out. Good: These are perfect setups. Strong buying throughout, low volume on pullbacks, confirmed trend. Improvement: Need to let part of the trade run or breakeven. Could have had a real nice winner here as it continued up another 10+ points. BYND (4) - Long - Bull Flag (-1 Not in Playbook, Manual risk entry) BYND strong all day, thinking we could see another rally to HOD as SPY was pushing up. Took it on break of bull flag, covered into previous level. Hit HOD but thought we had more space to fun, stopped out on the rest at Breakeven. ENOB - Short - Failed Pop (Potential Descending triangle-ish, -1 Not in Playbook, -1 Adjusted Stop, Manual risk entry) Not on watchlist, not in my playbook, tiny size. Overall wasn’t happy putting this trade on. Lots of things could have went wrong here - only thing I liked was volume validation, increasing selling, decreasing buying and it being over extended quite a bit which could see some nice continuation - ended up getting out early. Trade Review Overall was a pretty good day. Continuing to see the playbook trades statistically beating all my trades. But struggling to stay to my plan. LISTEN TO YOUR STATS WORK was absolutely brutal for me today, kept fighting the trend, catching a knife, and then shorting into major support. Step back look at the bigger picture - also noticing My first 15 minutes seems to be pretty rough. Implementing a no trading rule first 5 minutes, and last hour - I seem to be too excited and jumping into poor setups at open, and losing mental power to control bad trades at close. Daily Report Card 1.Playbook Setups Only (ABCD, VWAP Break N Go, Triangles looking to add 1-2 more) = 5/12 = 41% 2. Placing trades with defined risk, and profit targets (No adjusting) = 8/12 = 66% NO MORE ADJUSTING UNTIL A PARTIAL IS TAKEN
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1 pointI'll get this started. My name is Lee and I'm in Atlanta, GA. I'm somewhat new to day trading, but not new to swings and long term investing. I've been studying various types of trading for years and have been successful at swings and long term. After a 15 year stint in corporate and municipal finance, I decided it was time for something else. Day trading has become that. I'm in the DAS simulator now and am learning new strategies, risk management, and understanding the psychology of trading. I'm grateful that I found Andrew and this group. So far, I'm enjoying it and am looking forward to a successful career. So speak up! Introduce yourself!
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1 pointSIM Tuesday +0.7R , overtraded a couple tickers. LUV 1MinOrbDown, got one partial, Then later it double topped MA cross broke below VWAP and broke bottom of first 5min candle body. shorted with tight stop above prior three candle tops. MGM 1MinOrbDown, bad trade because the first 3 candles were too large. M 5MinOrbUp above VWAP and MAs, I had a late entry so couldn't get partial at HOD like I could have with better entry near VWAP. Then I shorted it below VWAP and got one partial. DKNG, BO above PMH, this is not one of my playbook trades. BYND, just a regular reversal, also not in my playbook TSLA LightningBoltUp, one partial M again, double bottom, it couldn't get the volume increase and failed. Ended the day over trading LUV, tried long break of PMH 38.00, stopped out for loss, tried again and was stopped out again, then one more try worked out. The better trade would have been after the doji formed just above VWAP when it broke that MA on the next candle. Stop could have been loss of VWAP. Now I am off to start packing for my Cancun trip, we leave at 6 AM tomorrow. so I doubt I will be trading the rest of the week.
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1 pointThat is correct! You don't need an IB account and DAS sim will still show the short inventory.
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1 pointHi All, my name is Carlos M. I am 32 and live in Northern Jersey, few minutes from the NYC. After 12 years of working as a Senior Operations Manager, I was laid off this past December. My company purchased GE Appliances and moved to their headquarters in Louisville, Kentucky. I thought I would be more upset about the layoff but I had 12 amazing years, and I was ready to move on and try something new. The company gave us almost a year and a half notice, that was more than enough time to prepare. (Plus a nice $$$ for years of service and sticking around until the end :) ) As my work started to transition to the new company, I found myself having a lot of free time during the day. I always had an interest in trading stocks and this was the perfect time to start practicing and getting ready. I did another online course and trading that did not work out (that’s a story for another time), and then I found Andrew’s Book and Chatroom community. Signed up for the Platinum package, I did the simulator for about 4 months and when live this month (January 2018). Looking forward to possibly meeting up in the near future with others traders and continuing being part of this amazing trading community. Carlos M.
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1 pointGreetings all - my name is Wesley (Wesley P in chat) and I'm as new to day trading as can be. I'm not even sure of the initial spark that led me to investigate day trading in the first place, but somehow I found myself down the rabbit hole. Over a couple of weeks, I spent hours on YouTube watching vids about a multitude of trading aspects, and pretty quickly the need for some kind of trading education became evident. One way or another I discovered Andrew's book and purchased it from among a handful I reviewed due to what I perceived to be plain-spoken candor about the risks and rewards of day trading. I also liked his bare-bones approach to laying out day trading. I completed the book over the holidays and tomorrow my first week of the 3-month sim program will conclude. I have no prior market experience. I'm self-employed for the past five years after 15 years working for Web agencies. I do pretty OK (knock on wood) but as those of you here who are self-employed know, killing what you eat day-in day-out is a grind and it doesn't take much to upset your financial equilibrium. I still answer to clients, too, despite being an independent, and I guess that's just not quite good enough. I've been on the hunt for a couple years for something with greater autonomy, and this is one among several aspects of day trading that is very compelling. Truly, with day trading you hold your fate in your hands, and that is awesome. It's all play money for me right now, and drink after drink from the firehose, and I'm glad to be here. Cheers, Wesley
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1 pointHey everyone, I'm Carlos G. I've been a member for a few weeks now and I love it! I served in the Marine Corps, worked on helicopters afterwards, and now I'm a senior pursuing a degree in mechanical engineering. I've been a NASA Pathways Intern at the Johnson Space Center for the last few years, and I don't plan on giving up my career anytime soon. However, I really enjoy day trading and hope to supplement my income knocking out a few trades in the morning before work. I'm currently saving up $25k to get past the PDT rule, so I'll be in the sim until then! Good thing, too. I probably would have lost all of my money by now. lol, I'm getting better though! I hope to go live by the end of the year. ; )
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1 pointHello all, I'm David (Smith) so one of the three or four 'David S' in chat. I live in southwestern Connecticut. After a career of 30 years in IT, including consulting and development work, I had just grown weary of dealing with clients on a daily basis. I too have a finance degree as others have mentioned here, but after that fateful first job out of college, I was well down the IT path. Have always had an interest in the markets, and based on proximity to where I live have many friends that are full-time Wall Street types. Started reading and learning about day trading in the Fall of 2016 and began trading exactly a year ago today, so Jan 10th 2017. Would love to say I was a huge success, but had a couple of day trades that I turned into "investments" because I couldn't let go of the loss the day I entered the trade. Only to liquidate months later with much greater losses. By September, outside of my two big mistakes, I was more or less breakeven from a gain loss perspective but my p&l was bad because of commissions. Needed to change up things and looked around for some additional reading material and found Andrew's book. Really like how unassuming and down to earth his approach is and accessible to new traders. Signed up for chat, classes and sim where I traded Oct-Nov-Dec. Back live now in January and working towards consistency. My biggest enemy right now is overtrading, and that is my primary objective for the next few months, take only well thought out trades and don't jump into anything. Really like the chat community and look forward to hearing more about your successes and challenges as we all build our trading competency. Cheers.
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1 pointHi everyone, I'm Patrick and I live in the Orlando Florida area. I run my own business (I'm a DJ for weddings and events) which doesn't have much of a connection to the financial markets but I actually got my degree in finance and so I've had some interest in the markets for quite a while. I. like many others here, would like to put myself in a position where I know I can make consistent money from the markets. Found Andrew through the Desire to Trade Podcast interview and bought the audio book (I prefer audio books because I'm a slow reader) and thought he made a lot of sense. I've been down just about every road in trading, stocks, options, forex, futures and my journey has been somewhat of a roller coaster ride. I'd like to say that I've made more than I've lost, which is true more recently but I have blown up a few times. I've just started the learning process here with Andrew's methodology. I like what I've seen and I'm looking forward to learning a lot here.
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1 pointHi all...my name is Amy (Amy G in chat). I live in the Dallas / Fort Worth, TX area. I work in healthcare. I'm a CT Scan Tech who works in the ER. I LOVE what I do and have no interest at this time of leaving my career to pursue trading. I would like to use trading to build up my retirement account. I am very fortunate to have a schedule that allows me to be in the stock market for the first few hours of the day without interfering with my full time job. I have been interested in trading for years but most of the time I just did not have the time and/or money to really get into it. In Feb. 2015 I found Day Trade Warrior (Ross Cameron) and after a couple of months I was breaking even with live day trading. I like some things about his stuff (day trading) but other things I was not so crazy about. In May 2015 I was faced with an unexpected divorce so I put all trading aside because I just was not in the right frame of mind for trading. About a year after my divorce I started looking at trading again and this time I looked at futures. After a few months I was doing so-so with futures, but I just have never been as excited about futures as I was stocks. I was reading an email one day about a month or so ago from Amazon.com and it was book recommendations based on books I had purchased in the past. At the top of that list was Andrew's book and it caught my attention. I went to Amazon and read some of the reviews and then bought the book. It wasn't until after I bought the book that I discovered Andrew's site. I have signed up with the 1 year chat, classes, and 3 months of DAS simulator. I just started chat and DAS simulator a few days ago. I hope after 1 year to be averaging $500 per day with real money.
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1 pointHi I'm Hannan, live in Vancouver Canada. I've been swing trading for 2 years, recently read Andrew's book and have decided to try day trading. I feel day trader is a great idea, it's safer not to expose all my investment into the market all the time. Just purchased the 3 months simulator, with Andrew's layout and hot keys, training starts! Hope you meet you guys offline in the future. Cheers! P.S. anyone using WeChat please add me at : qq99652539
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1 pointHello! I am Dylan, and I am currently a freshman at the University of Washington studying computer science. After accumulating enough to day trade, I was intrigued by the idea of making .5%-1% a day on my portfolio. I started trying to day trade without educating myself properly, eventually realizing I had no idea what I was doing. I am grateful for Andrew's book as it led me here, and this website/live chat have been very helpful for me.
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1 pointHi all! My name is Jason (Jason H. in chat) and I live and work in Minneapolis, Minnesota. I am a User Experience Designer at a startup and lead a small team of designers. I got interested in day trading about a year ago but only started taking it seriously in November. I enjoy a lot of hobbies and side gigs. I work as a stunt coordinator in the film business, teach acrobatics and stunt work, design and build hardware products, and tinker with whatever is on hand. Ultimately I hope that trading will give me the flexibility to pursue the other work I enjoy.
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1 pointHi, My name is Farhan and I live in NJ. I've been dabbling in the spot FOREX markets for a few years and blown up some live accounts. Decided to take this seriously and start trading the equities market. I look forward to learning from everyone and become a trader.
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1 pointHey everybody! I'm Francois and I live in Canada. I'm 23 and I work in construction since I'm out of school but I hate it! So now that I've accumulated enough money I'm trying to switch careers! I feel confident that in 1-2 month i'll be a full time day trader but for now i'm mostly flat
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1 pointAloha, my name is Paul and I live on Maui. I have been interested in trading for years and finally had an opportunity when I sold my snorkel business. I am a single father raising two beautiful girls (4 and 6) and love that I can be done with my trading day usually before my girls even wake up, thanks to the time difference in Hawaii. I read Andrew's book among many other and really liked his style so I joined his classes and got a simulator account. I traded in the Simulator for 4 months and went live December 1st. I feel so fortunate to have found Andrew's book and day trading, it has changed my life. The chatroom offers great support and camaraderie, I couldn't think of trading without it. Many Mahalo's to Andrew and Pez and all the support staff.