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Showing content with the highest reputation on 09/19/2020 in Posts

  1. 1 point
    Regarding more context in screenshots: This actually is contrary to Andrews idea that you should understand a trade within 5sec after seeing the screenshot, but for analyzing a trade, most posts on twitter are just too simple IMO.
  2. 1 point
    Hey, I am Lukas (we know us on Twitter). What I would suggest is that you post screenshots which show more context. 1m and 5m charts from the whole day, and maybe a daily chart. Otherwise its difficult to judge. At least for me. I think its incredible important to determine whether this is only a pullback, or a failed breakout. This is why I put all my focus on volume when I trade mountain passes. My general rules (without entry and target rules): No MP on strong trend days of the SPY, as it will most likely drag the stock in its direction. Stock must be extended: Far away from VWAP, extended from the 9EMA in 15min chart, ...) The first top should show significant volume (exhausting) The following pullback shouldnt be too flat, but not too strong either. Dont take a MP if the consolidation after the first top takes too long. Second top should show an attempt of breaking out. The attempt should fail with low volume. Hence, breakout/ABCD/... traders will give up their long position and give up -> our entry Bonus if first top reached a resistance level General rules: high RVOL, clean trading, etc. This is important as you want to see that a lot of short term traders are involved. Traders who trade the breakout after the consolidation. You want to see them sell their long position when they notice the missing volume and give up. Also regarding Peters Webinar. I love his strategy but I simply dont understand his examples. I think the Mountain Pass will show up way less frequent than Peter indicates in his webinar. He has great success with it tho. I, on the other side, just started to integrate the MP in my playbook and have not much experience yet. By the way, be careful trading only one strategy. This is perfect for learning and I did the same for about 2 months (different strategy tho). But what I noticed is, that I traded setups which simply did not fit. This means, that there should have been MANY days without a single trade. But thats boring and frustrating which is why I took those setups and lost money. Hope this helps! And keep posting on Twitter!
  3. 1 point
    DAY – 9.18.2020 Trades: 3 Symbols: 3; 5 (DT: AMD, SPY, DKNG; Swing: IBM, WKHS, BA, APA, WDC) Psychology: Slept well, routine breakfast and preM show paired with PreM preparation. 1. Did you take 20-30 deep gut, clear mind breathes? – PASS 2. Did you review your Daily Psychology Dose? – FAIL 3. Did you prepare your pre-M checklist for ORB? – PASS a. Did you rehearse long and short possibilities? – PASS 4. Did you review your Big Picture document? – FAIL Goal for the day: Day Trades – Work on 2-min ORBs and find one or two PRs and CRs; Swing Trades – Manage partials/exits and average downs according to pre-set plan Daily Market Wrap-up & Week in Review: SPY has fallen below the 50 SMA on the daily, not a good sign for bullish sentiment. It was range bound and moving upward from 1:30 - CB but did so on low volume which also does not bode well for bullish sentiment. The Energy sector (XLE) ETF was at the bottom of the list with Health barely ending the day positive. In terms of weekly performance, Healthcare and Industrials lead the way, Financials and Energy in the mild and Communications Services leading the 'red' pack. WL: DAY TRADES: SWING TRADES: WKHS Broke $30 today, I am still holding some shares for the break out above $30. IBM: Added to my position on yesterday's PB. Holding this as big money rotates into 'safer' equities as elections approach. AMD Entered a swing at the low of day to hold over the weekend . Final Review Goal for Day: 8/9, PASS 1. Only trade the opening 5-mins if consistently trading symbol and confident with its move – FAIL 2. Partial/average down or exit swing positions (according to pre-plan) – PASS 3. Work on better entries – PASS 4. Reduce amount of premature entries due to not waiting for strategy set-up to 'occur' and 'confirm' – PASS 5. Only trade the symbols on your WL, BBT pre-market stocks in play, or TI scanner – PASS 6. Do not trade without P/L on screen or in mind – PASS 7. On green symbol stop trading it for the day if lost any amount of green P/L – PASS 8. 3SYO – PASS 9. Enter trades with small position, upon confirmation of ‘move’ add to position on PB – PASS #6 and #9 are game changers for my confidence and trade management. Things I did well: Stay patient with a trade where I had to average up on waiting for the move. I did not chase any entries at the top of a range or at the D position of an ABCD pattern. I did not break my rule of only taking 3 trades today, outside of my ORB. Things I did poorly: Broke a rule set-up yesterday - I was playing a game: Take a trade in the morning and if I 'won' the trade then I could take a second trade. broke the game rules. Needs Improvement: Last few weeks I was doing a good job of performing comparative VPA checks – before entering a position I was comparing similar volume/candle bodies others previously formed during the day (1-min and 2-min chart). This was helping me get better entries. I NEED TO GET BACK TO DOING THIS CONSISTENTLY.
  4. 1 point
  5. 1 point
    I'd love a webinar dedicated to the journey of our mods. It could be structured as: 1.Backstory of how they got into trading 2.Their path from SIM to Live, 3. The grueling first year 4. The intermediary phase where they became more profitable 5. All the unique pitfalls they faced along the way 6. Where they currently are at now. It doesn't have to be a webinar, but could even be a dedicated spotlight section on the website, interviewee/sleek editing style. I think it's interesting to see how far people have come, and in their stories there are always nuggets of truth that help other traders along the way. Sorry for calling you out mods! But you guys rock and love to learn from you guys.
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