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Showing content with the highest reputation on 12/31/2020 in Posts

  1. 1 point
    Date: 12-30-20 Stock: MSFT Strategy: Directional Long/Short: Short Entry: 223.25 S/L: 223.42 Risk: 0.17 Why did you take the trade?: - Weak stock, holding the 9 ema on the 2min chart How did you feel after taking the trade?: - Good. What did you do well?: - I thought my entry was good considering it wasn’t on my watchlist. Additioally taking profits at 2R instead of 1R. What can you improve on?: - Fix hot keys. It continues to take the entire position out instead of partial out
  2. 1 point
    Date: 12-30-20 Stock: AMD Strategy: Scalp [ going for directional but Hotkeys pulled my entire position] Long/Short: Long Entry: 90.89 S/L: 90.81 Risk: .08 Why did you take the trade?: - I saw that the price action pushed through all the EMA and was just under the VWAP. How did you feel after taking the trade?: - Disappointed I showed up late for the squeeze. What did you do well?: - managing my risk. I only risked .08 b/c it had not broken through the VWAP yet. - If my hotkeys had not been acting up this would have been a red trade. What can you improve on?: - If you look at the 2 min chart you can see that the bullish candle that you made the trade on was only had average volume. Where the bearish candle 4 min ago was about the same size and had high volume. This should have been an immediate red flag that the upward movement was possibly weak. Which it was, as the price moved up the volume decreased. - I did not look at these things I was super focused on where the pirce action was in relation to the VWAP. - Don’t get tunnel vision on one-time frame. - Volume price analysis. Questions Would you have taken this trade?
  3. 1 point
    - Since you recognized that you where wrong after you entered the trade. Could you just reverse/ flip the trade?
  4. 1 point
    - Good job at sticking with the trade. - Do you watch the 5min chart for weakness/ strength to determine to get out/ stay in the trade?
  5. 1 point
    - Good job at recognizing that the three hammer with high volume! - Did you see the other two on the trend with the high volume or just that one? - Good Job to stick to the plan for your entry and not forcing anything. - Overall good trade!
  6. 1 point
    Date: 12-29-20 Stock: AAPL Strategy: There was none Long/Short: Long Entry: 138.24 S/L: 138.10 Risk: 0.14 Why did you take the trade?: - I took the trade just to trade. There was no plan besides going long. How did you feel after taking the trade?: - Doh! What did you do well?: - having a stop loss. What can you improve on?: Don’t trade just to trade. Wait for the right set up. 15 min 5min 2 min
  7. 1 point
    I found consistency when I got rid of all my profit goals. I realize now I was trying too hard to reach a specific P&L and it was effecting my decisions. Now I try to focus 100% on making good decisions. I make notes on each trade as I take it throughout the day, so I can constantly monitor how I'm doing based on decision making. A good day is one where I make good decisions and manage my trades according to my rules. I haven't had a hulk day since I started doing this. I find Thor's mentoring sessions incredibly helpful. It was his suggestion to get rid of the profit goal and it worked for me. He often says don't lose more in a day than you can make back in a day or two. He couldn't be more right! I had a max loss day on Tuesday and made it back and then some on Wednesday. Everyone always says focus on the process not the profit. You just have to figure out your version of that. After watching Peter's SMART entry webinar I try to plan out my trades before I enter them so I have a plan for whatever the stock does. This allows me to stay calm and focused because I already know what I'm going to do. If I get my signal I enter, if not, I don't. Once I enter a trade, I've already planned my stop loss and profit targets, so all I have to do is follow my trade management rules. After doing this for a couple weeks I know I am in a good trade if I am calm. If I feel like the trade is "easy" then I know I'm prepared for it. The hardest part about this for me is missing setups because I didn't have enough time to prepare. Sometimes I impulsively enter the trade because I saw my signal, but my heart rate increases because I haven't planned the rest of my trade. I have been immediately stopping out of these trades, which more often than not seem to work out, but it's not worth the risk if I'm not calm and prepared. My best advice is don't worry about other people's timelines. Focus on your trades and your process. The hardest part for me is to be patient. I can see incremental improvement in my trading over time, but it is SO much slower than I want it to be. I see improvement in your graph. Take a step back and look at how far your come, realize it's going to take longer than you would like and keep working at it. Keep learning and improving every week. And try to stay positive! I have found that my best teacher is my own journal. I take the advice from the moderators here and apply it to my own trading. Your equity curve seems to be flattening out and it sounds like you know if you eliminate the hulk days things would be much better. Try to focus on making good decisions and reducing the bad ones. Also, keep in mind that as your equity curve starts moving up it's not going to be in a straight line.
  8. 1 point
    It sounds like you are crushing it Angela! I commend your patience and perseverance! I like the idea of "preserving your mental capital" as well as your financial - don't want to burn yourself out. Good luck for going live in the near future. Merry Christmas and Happy New Year to you too!
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