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Showing content with the highest reputation on 06/13/2020 in Posts
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1 pointJust to give some food for thought on this, but the Hotkey file is compromised of a defined structure. So the structure is like this: {*keycombo-as-string*}:{Title-as-string (max length: 99}:{script-as-string, max 51 bytes} \n (new lines are not rendered in notepad) If you go over the 51 byte limit, it adds a value to signify the total length of the command (including spaces). So this: ROUTE=ARCAM;ACCOUNT=TRIB8359;Share=200;TIF=DAY+;BUY=Send ..hotkey script is 57bytes, and what the program sees is this: ROUTE=ARCAM;ACCOUNT=TRIB8359;Share=200;TIF=DAY+;BU To do a multi-line (longer) command up to 999 bytes, you have to add the length in bytes. Format is this: {*keycombo-as-string*}:{Title-as-string (max length: 99}:~ {length of script}:{script-as-string, first 51 bytes} \n (new lines are not rendered in notepad) {51 byte chunk of script}\n {51 byte chunk of script}\n .. repeat until the end of the Hotkey Script. Using yours as an example, the correct syntax is this: Ctrl+Shift+2:Buy 200 Shares at Market:~ 57:ROUTE=ARCAM;ACCOUNT=TRIB8359;Share=200;TIF=DAY+;BU Y=Send What is most likely happening and why it changes when you tweak it in the DAS editor versus a text editor is that DAS is correcting for the hidden characters (new line, tab, etc). A slight issue in syntax can throw it off. Additionally, if you're editing while DAS is running, you have to open the Hotkey editor to load the changes into the memory space. They're only loaded on program initialization otherwise. If you're trying to create a dynamic hotkey; one where another program changes values; you have to do so by editing the values in memory directly. It's 100% doable, but takes a lot of knowledge. I had a working script that would automatically trail a Stop order to a moving average by a set offset as a prototype. It was just too cumbersome for distribution.
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1 pointThis (the price discrepancy) is fixed in the next release.
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1 pointNASDAQ TotalView is the Full Depth Order Book data for NASDAQ, it includes Level 1, Level 2, and all quotes / transactions (time & sales). Others are: ARCA (NYSE), BATS/EDGA/EDGX, and then an assortment of smaller ones. Each data feed is the main feed for a particular exchange(s), so TotalView would have more complete data on NASDAQ stocks.
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1 pointIt's two steps if you count having to double click the chart where you want your stop. But the hotkey is just one script. Yes, the math is simple, but it does take time and your focus away from the chart. The benefit of the hotkey lies in the fact that you never have to look away from the chart. You double click where you want your stop, and when the price gets to where you want your entry to be, you just fire the hotkey. Buy/sell, stop loss, share calculation, and built in risk are all taken care of for you instantly. It's just one less thing to think about!
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1 pointWhat's up man! Looking good, the first thing that I want to say is when I first started trading I traded almost exclusively off vwap. The logic was something like "Large institutions are the catalyst for the bulk of price movement, vwap is the most important indicator for these institutions, ergo if I think a stock is strong enough to stay above vwap i'll go long, if I think it's too weak, I'll go short." I ended up hanging around break even for a lot of weeks trading like this and it felt very limiting. Now I only use vwap as a profit target and very rarely take a position based off vwap and I do a lot better. This video recap by Aiman put the start of trends / importance of moving averages / stop placement in to perspective for me. A few more things ... 1. All of your winners are sub 2R, I challenge you to make a plan before you enter for a fixed R profit. Something like enter long at $10 with a stop loss of $9.90, and a profit target of $10.30, i'll partial 20% at $10.20 and get all out at $10.30 for a ~2.7R gain. It doesn't have to be that strict but the main take away is when you enter a trade you should always know where you want to get to, and roughly how large of a move that is. If you're consistently getting sub 2R winners then your hit rates needs to be really high. Where for example, if you only take 2R trades and your hit rate is 50%, you take 10 trades, 5 winners, 5 losers, that's 10R - 5R = 5R = $500 (for you) 2. Are you using kyles hotkeys? If not, I HIGHLY recommended that you do ... 3. So your entry on $PLAY for the 5 min ORBD was actually not that great check it out .. Remember, when you take a 5 min ORB you want to have some type of confirmation on the 1 min chart, most often an ABCD setup. You can see that it was respecting previous day close for a while, and tested and rejected it, a much better entry would have been around 16.53 with a tight stop above vwap / previous day close / moving averages. It wouldn't have worked but this entry makes a lot more sense, the risk / reward is now there, the odds that PLAY just smashes through $16 is very unlikely, but it makes a great profit target. I'm not sure if I would have taken this, if I remember $PLAY gapped up heavily Friday, I'd be looking more for a fallen angel play rather than a ORB to the downside, also $SPY was strong, and the candles are very wide on the 1 min, definitely wouldn't be a terrible trade though, maybe a B- (IMO :P) Hope this helps, gl! v/r -Chris
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1 pointDay 106 - Jun 12 , 2020 31 Tickets 3 Symbols Red Day Personal: Decent rest, felt great and ready for the morning. Watchlist: Trades PLAY (1,2) - Short - Failed Pop (-1 Adjusted Stop, -2 Not in Playbook) 1.Was looking for an ABCD if it made it to VWAP - but formed a bearish doji so took it on the break on the failed pop - got too excited and took it too early, stopped out. 2. Broke down through LOD, same thing was waiting for a pop back into VWAP for an ABCD - doji came and I made the exact same mistake….wtf Improvement: Need to have patience - this is not my setup, exact same FOMO happened twice, knew I need to wait then got in once bearish doji formed…brutal. ABCD happened on the 5min, if I waited for the VWAP test and reject could have had a perfect ABCD OXY (1) - Long - Technical Breakout (Chasing, -1 Not in Playbook) So I recently implemented a DAS time limit - 5min rule at the open without trading in order to let price discovery happen - stats validate this. Saw a nice reversal with hammers coming off PMSupport, tried to enter but DAS rejected order. Was choked that I missed the hammer bottom, ORB….it broke out, then consolidated above PMH was looking to get in after first hammer but decided not to as it would have been chasing, another hammer formed and exactly what happened - FOMO chased HOD breakout. Partialed quick as I realized I was chasing and stopped out for a loss AAL (1) - ABCD (SUB: Double bottom W off VWAP, -1 Adjusted Stop) AAL sold off and then pushed to HOD, came back into VWAP consolidated there gave me a decent entry for ABCD up to HOD. Took it long with stop below previous consolidation, SPY started to drop so I panic covered half of the position, held the VWAP (as I was initially anticipating) and moved up - added the risk back on. Covered quick into pops as I didn’t want to give any back, and held the rest till it confirmed lower low. Improvement: STOP ADJUSTING, same story over and over…took a loss on a partial for no reason. OXY (2) - Short - Technical Breakdown off Asymmetrical Triangle OXY weak broke below VWAP and couldn’t get back above, too it short as it was breaking down but then realized we were heading into previous support levels and into MA's - seemed like a low probability play and didn’t like the R/R so I took it off - happy with the decision. Tried to hold up formed a narrow candle, and then tried ot push but rejected, giving me confirmation for the short so I put the short back on. Sold into LOD , then panicked on the 2nd cover thinking we might bounce. Then again into PML, and again panicked thinking we would bounce…left the final partials into extended moves. Good: Happy with taking the risk off, and then adding once it confirmed and gave me a better R/R. Improvement: No need to be covering twice into the same level (2nd cover and 4th). Trade management is hurting me on these winners. A trade like this should make your day…..but due to heavy partialing it was just average. AAL (2) - Long - Asymmetrical Triangle (-1 Adjusted Stop, Manual entry) AAL looking to break out from Asymmetrical triangle took it as it brook through trend and VWAP on volume. volume looks like its all buying on the 5min but lots of selling on the 1min and SPY rejected off VWAP - took half off. And then got stopped out. Formed a small ascending triangle after the shakeout - took it long (manual risk size - 1/4size) and got the pop, sold into it and held final bit for close. Improvement: Need to be taking same risk on every trade. Out of this trade - full size on loser, 1/4 size on winner….winner looks much better, but the overall trade was red. Trade Review Feel like I am making progress on a few things, but then again feel like I'm so far away from being consistent. Just cant seem to shake a few habits, FOMO, Impatience and Adjusting stops. I have also noticed I have been getting into some great moves 5R+ but my trade management kills the returns as I partial to heavy, or too quickly. 2 great trades - both playbook trades, could have taken advantage of them a little more by following exit plan. 2 terrible trades - PLAY, chased both times, not in playbook, rooki 2 Decent trades - AAL end of day breakouts, would take these again - but need a better exit strategy. Things I did well: Holding on for the bigger move, Consistent risk sizing Things I need to improve: No more Adjusting stops, Sticking to my playbook setups only, partialing to early (sticking to my exit plan) Daily Report Card 1.Playbook Setups Only (ABCD, VWAP Break N Go, Triangles looking to add 1-2 more) = 3/6 = 50% 2. Placing trades with defined risk, and profit targets (No adjusting) = 3/6 = 50% NO MORE ADJUSTING UNTIL A PARTIAL IS TAKEN Thanks Tom - will change it up from here.
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1 point2020-6-12 <SIM> Came in with a new game plan today... Limited my watchlist to four stocks with a few rules.. Need to continue watching the same stock until it goes flat and choppy, no action. However, ok to trade and change the one minute ORB and the five between stocks. With that I ended up keeping an eye on one stock, $SAVE for the morning session. Close to a break-even day at -$58.10 or -0.58R. Way better than the hemorrhaging over the last two days. But off my Monday winner of $600 plus. Some solid corrections. 1R = $100 Trade 1 $SAVE +$62.10 One minute ORB. One of my goals from yesterday was to have an excellent entry on this trade. Had that and what were excellent exits. Not a lot of run here, but I caught it all ! Start the day Green ! Trade 2 $PLAY - $80.08 5 Minute ORB Good Entry, Good Exit. Trade 3, 4, 5, 6 & 7 Trade 3 $SAVE +$145.23 Hindsight 20/20 and while I am looking at this a few thoughts crossing my mind. First this is a positive trade. And I followed it all the way through. I let the stock price cross VWAP, confirm and then I bought... But...Had I kept the chart up from trade 1. (Remember, I am trying to stick to one stock instead of jumping around) Would have I caught the reversal in minutes four and five from the open. I don't think so. Would you have played this different ? Would you have played the reversal and if so...how long would you have hung on to it ? All the way ? This move broke the 9 the 20 and VWAP...I guess that's why we pick stocks in play...anyway a good move and a good start to the day ! The more I look at this trade the more I like it (clap, clap, clap) Trade 4 $SAVE -$165 Stock went through VWAP, I went long. Too big of share size so I reduced my position by half, already lost 0.55 R with just that...stock drops below VWAP and I am stopped out. Thoughts on this one ? Not an A trade ? Trade 5 $SAVE +$41.40 Stock goes back above VWAP again. I waited for it to cross the 9 and the 20 to get in... As I am writing this I am patting myself on the back because it looks so pretty, including all of the partials. However, I just didn't make a lot. Hindsight it is only a 1:1 r/r, you can't get a complete R if you are going to partial...good execution. Maybe a C trade... This blown up chart shows this better, I should have been in three candles earlier...with double the share size...still, a lot of things done well here... Trade 6 $SAVE -$76 Stock came down and bounced off VWAP, I went long... Adjusted share size to 1 R Risk (good!) 2000 shares to 1200. Stopped out. Lesson; look for confirmation on five minute to confirm strategy... Trade 7 $SAVE +$21.25 Really reversed myself from trade 6. Partialed at the bottom but didn't finish it...was I completely focused (???) Good trade, maybe a better entry would have added profit and share size...certainly could have improved the exit...green trade ! I like how I was watching the stock and took another better opportunity...goal for the day ! Trade 8 $SPY -$9.25 Tried to take a reversal of the $SPY before the market closed... Unable to concentrate or complete the finish when my young daughter needs attention A couple of candles early...but WOW look how that one finished...!! Missed Opportunity !! RECAP: Wow I feel better ! First, just by having a major change to my setup and a new set of rules and sticking with them all day long. ( Of course I really only traded the first 75 minutes, but that's ok!) Good discipline sticking to the rules and the plan ! Small watchlist. Focused on one stock until it goes flat and choppy. NO HOTKEY ERRORS ! Good use of stops. Area for improvement: Focus on excellent entries. This allows not only for more room but for better leverage. IE $100 = R allows for 500 shares on a 20 cent stop, but 1000 shares on a 10 cent stop (and 2000 for 5 cents) This would allow for bigger winners which were absent today. Make sure completely focused on the trade and stock in action. It is ok to take a break ! Good day to go into the weekend. One extra note to how much I enjoyed Aiman's trade recap on Thursday morning. I have to admit, I did not realize he was reviewing member trades. How valuable !! Will continue to attend these. One thing I got out of this is how he uses multiple time frames for confirmation and stock direction. I typically only use a one and five minute chart. Sad my week didn't come together overall, but I felt that I have grown alot. Everyday in the chatroom you hear about how important it is to journal. I think I have gotten a ton out of this short exercise. Only one thing...the journaling process is taking hours...I can't imagine it should take that long. I imagine this will be more concise as I grow with trading. Goals for the weekend: Practice in Replay, complete with journaling. Review strategies in education center. Exercise ! Enjoy family time ! Have a great weekend All ! -tom n
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1 pointHey Guys - changed the way I import the images. Think its a little clearer this way and easier to see. Thoughts?
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1 pointDay 105 - Jun 11 , 2020 30 Tickets 3 Symbols Red Day Personal: Good sleep, meditated, read 101 daily coach - ready to go. Watchlist: Had a few good stocks on the watchlist, but a few too many which didn't allow me to complete watchlist fully. Trades MRNA (1) - Long - 5ORB (-1 Not in Playbook) MRNA was looking for an ABCD at 9:34 - didn’t fit criteria of 5 min rule. Took it on a 5 min orb (technical Breakout as it broke through PMH. Stopped out. Improvement: Not in my playbook, not comfortable with these, chasing hoping for a pop. Need to study these and test in afterhours SIM in order to implement properly F (1) - Short - Double Top (Lvl 2 - Offers holding and stepping down with size, -1 Not in Playbook) F was heavy on the offer from the 6.46 Premarket level, took it short as it confirmed the double top. Offer keeps stepping down, bids would drop and offer would continue stepping down with size. Didn’t like the 5min volume, but 1min shows sellers have come in. Idea was to take some off if offers get lifted. Took some off as 6.33 Bids held quite strong and took the offers easily. SPY making its way down which should help. Took more off as I didn’t like bids stepping up liftin offers. 3rd cover was panic cover thinking we held VWAP - no reason. Held the rest for levels made in Pre market. Good: Validation with Levels (PM level), Level 2, Volume Improvement: Trade Management - LET THEM PLAY OUT!!! No reason to be taking 2/3rd partials. ACB - Short - Descending Triangle (-1 Adjusted Stop) ACB has lots of room to run to the downside, no catalyst and very little volume (could be easily manipulated)But like the volume gap between 13.34 and 12.15. Big bid at 13.30 think it will get taken out and then test 13. Wide stop, might tighten if it breaks 13.30 and tries to come back. Adjusted stop to break of that level - playing PnL here otherwise could have let this run all day. With a few good areas to add. Improvement: Stop adjusting your stops, keeps ruining your trades over and over. DO NOT PLAY YOUR PNL. MRNA (2) - Long - Channel breakout (-1 Not in Playbook) Not sure what setup this is….but Liked the pushing up against 63.2 and took it as it was about to breakout, 63.2 ended up holding and dropped to stop me out. Came back up this time I noticed 63.2 break and bids stepping above so I took it long. Consolidated a big and then spiked - took half off into VWAP. Added on the pullback as volume was decreasing. Came back down to the mirror level at 63.2 and had a refreshing bid - was thinking to add again. Stopped out. Improvement: Need to be more patient on the add - once it comes down to 63.22 and holds and then breaks from tight consolidation rather than getting excited and jumping in first pullback. F (2) - Short - Descending Triangle (Lvl 2, bids dropping offers stepping down, -1 Adjusted Stop) HUGE offer on Lvl 2 stepping down the whole way…short as soon as the level broke, Took the big bid out on heavy volume but then buyers came right back and lifted the offers. Took half off as that happened - didn’t like fake breakdown got scared out of position, adjusted the rest and stopped out - top tick. Ended up come back down, took it short again through the same level and covered into drops - same thing volume came in thinking its bottom, so I got out most of it. Left partial on, and took it off when we failed to retest previous low. Good: Validating setup with clear level 2 signal. Put risk back on as the setup was still valid. Improvement: No need to adjust the stop here. Opportunity: Need to be adding into the Retest, my stats show that this is a profitable trade, especially after taking partials. Offers a much more defined risk. F (3) - Short - Mirror Level breakdown (-1 Adjusted stop, -1 Not in Playbook)6 Looking weak off VWAP rejection but didn’t have conviction. Came down and broke through the Mirror level and I chased a short with a wide stop, looking to add. Had an idea that it might hold 6.21 level and do a bounce and to short on 2nd try…but seemed weak and had the MA cross so I took it short.. Adjusted stop (again….), stopped out and then took it again on the next short. Getting out of control here noticing im catching the rookie trades…short the breakdown now Improvement: Adjusting stop, adjusting stop, adjusting stop - when will this stop….Taking losses for nothing. Also taking the rookie excitement trades shorting the breakdown. Trade Review Felt good throughout the day, but still making many stupid mistakes. Adjusting stops 3 times - every single time I got stopped out, but my initial stop would have turned out to be winners. I have been taking less impulse trades which I am happy with however, still taking random setups which are not in my playbook, and that have proved to be poor setups for me statically. This weekend will be a heavy review weekend, re-schedule my daily tasks. Feel like im spending too much time on things that aren't that useful. Looking to incorporate more SIM trading sessions at night, hitting up previous plays and working on Entry and Exits. Things I did well: Validate with Volume and Level 2, better job of leaving the trade on for the bigger move. Things I Need to improve: Trade Management (Trading my PnL, Adjusting stops, impatient adds) Daily Report Card 1.Playbook Setups Only (ABCD, VWAP Break N Go, Triangles looking to add 1-2 more) = 2/6 = 33% 2. Placing trades with defined risk, and profit targets (No adjusting) = 3/6 = 50% (all 3 would have been winners) NO MORE ADJUSTING UNTIL A PARTIAL IS TAKEN
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1 pointSo glad there are some ladies in BBT! Yes, I would love to be in a ladies group of traders. I’m so excited! I am actively trading everyday, as this is a priority for me. Look forward to joining the trade review group @daytrademom and @JenniferL! Please count me in!