For me, your trade highlights the difficulty of trading the open. Awesome work though man, you still managed it like a boss! Having read Andrew's trade book for 1min ORB, he mentions that if there is a large bid/ask (depending on whether it's break up or down) he doesn't take the trade. I imagine falling angel could be similar. Keep up the good work!

I also think that you should get in a little early. I feel like the strategy you are using requires a lot of resilience (which you have). If you ask me I think you should keep doing what you are doing some trades will not go your way, but I feel like the more you do it the more you will be able to recognize an A+ setups. If that makes any sense. Great trade! I love seeing your strategy because it is so intimidating.

It's great to screw up and not lose real money! 😄 What happened with the hot keys? Just hit the wrong one?

Right, I meant locked, not closed. Thanks for clarifying, that's what I needed.

Skye, If your account balance drops below 25k at any point you will be locked out from placing any more trades. I have personal experience of this through the DAS platform. Intra-day, if your balance drops under 25k, you will receive an error message that basically says, "Dear trader, because your account balance falls under the PDT minimum you cannot place anymore trades". You will have to bring your account balance over 25k to even place another trade. Your account will not be closed however. Bailey Nevener ============================== My YouTube Trading Journal https://www.youtube.com/channel/UCkK2SWIsYGuWm1gtlbD2C4w

This trade was stupid cause I entered and re-entered without a defined strategy. First I went long with $20 risk, stopped out -$23.68. I think my thinking was that this was a just a pullback on an ABCD. Given that it would have been a type C (parabolic pullback) I should have waited for a second bounce and more confirmation. The 60min chart did support a trend upwards. I then went short with $20 risk and stoploss at VWAP and ended up with +$47.94. Maybe this is a lightning bolt pattern? I haven't looked into those yet.

I really fucked up the execution on this trade, and in my stupid conviction I got stopped out 3 times! Basically my stoplosses were too much in the choppy range. For me to have it out of the range would have lead to poor risk / reward. I should have been paying more attention to the 5min chart for a possible entry. Of other note is that the 60min chart does not support a downwards trend, making this a little risky.

I've been taking 25% lately, but I am still working out my partialling system

Dude I dunno, I got confused between long and short, and I went the wrong way more than once. What's worse is that I use the hot buttons!

No, you have a good point, I agree that a higher entry may have been more risky. However in my opinion we were kind of already in an ABCD pattern and there was sideways consolidation and a rejection of the 20ma on the 1min chart. Confirmation would have been the break of the 9ma after rejection of the 20ma. Everything was trending down, and this supported the bigger picture of the ABCD pattern on the 5min chart. I don't currently have super strong criteria for entry, but a trend must be supported on multiple timeframes, cant be too extended, and generally is supported by a technical indicator such as 9/20ma. There definitely seems to be an art to ABCD's rather than a science.

Thank you, I appreciate it. Also I really like how precise your entries are especially when it comes to ABCD patterns. The hotkey error was a bummer, but you had GREAT intentions. II liked how you were able to recognize the pattern. Do you take 25% out on every partial or does it vary?

Stock: FCEL Strategy: Fallen Angel Why did you take the trade?: You'll see I made a mess finding the entry here. The problem I have with the fallen angel strategy (and might always have?) is that there's a certain amount of knife catching going on, and you need to keep stops so tight lest you get caught in a continuation of the flush that made you interested in the position to begin with. I made two attempts to enter and got stopped out tight before my third entry finally worked out. I don't see what else I can do other than get out of the position at the moment I see further weakness. The third entry worked out. However I'd already by this point given back a fair bit with the two failed entries and the sum of the three entries was ultimately red. Looking back at the tape there was a HUGE bid at 19.50 that I've only noticed now as I play the recording back. If I'd seen it at the time perhaps I'd have held on before stopping out the first two times given the support that bid should have provided. Alas, I didn't. Long/Short: Long Entry: 19.75 eventually, the first two trades similar. Risk: 23 cents S/L: 19.52 How did you feel after taking the trade?: Quizzical. What did you do well?: I waited for my set up to present before entering a trade. This applies to the session as a whole which was very disciplined in this respect. I also do think I kept stops tight. Sure, this ultimately resulted in a loss, but I think longer term keeping stops tight will help me avoid much bigger losses and I shouldn't be put off just because this time I stopped out when I didn't need to. What can you improve on?: I guess waiting for a stronger confirmation of a reversal before going into a trade. Questions?: Where do I trade off? Get in early with a tight stop, better R:R but a higher chance of hitting the stop... or get in late with a much bigger stop, a much worse R:R (basically 1R if you go in later?), but then a stronger confirmation? I sort of prefer the first one, but I then need to accept there will be many trades that don't come off or where I have to stop out.

Looks like you got an ABCD pattern going on there, so that strengthens your position, nice work.