We have these: https://bearbulltraders.com/course/technology-monday/lesson/trading-desk/topic/special-guests-dr-brett-steenbarger-mike-bellafiore-collective-learning-in-a-trading-community/ https://www.youtube.com/watch?v=tjkLpNZ-lVU&t=2210s

Hi Matt, great result for such a short trading time! One question for your risk management: do you have a max loss number for the day? What is it and how have you been able to follow the rules? thanks a lot!

Superb results! Great work Matt, and great progress!

MattfromNZ Trading Summary for January 2021 Journey I started learning and watching daytrading in the last months of last year, but this is my first month of real daytrading where I am treating it as if it was real and trying to follow actual strategies. I started properly recording my trades in the second week of January after I set myself up with fixed risk hotkeys. Goals The main goals of this month was to learn as much as possible and try out different strategies to see what works for me. Trades Over all my trades, I managed to make a small profit of 0.19R per trade or 24.63R total. Over 14 trading days this is making an average of 1.76R per day. I am extremely happy with these results in the early stages of my trading career. The main strategies I focused on were ABCD and 5min ORB. When I take into account whether I followed my strategy rules or not, we can tell where the problem lies. When I follow my rules my win rate for ABCD patterns increases from 40% to close to 60%, and my profit per trade increases from 0.5R to 1R per trade. Strategies ABCD: For this early stage in my trading career, this is my specialty. I managed to profit almost 0.5R per trade over all my trades, and I feel that I have learned and improved so much since the beginning of the month. 5min ORB: This strategy is very much a work in progress. I really want to be able to trade this, but it is revealing itself to be much more difficult than I expected. 15min ORB: Not something I gave a lot of attention to. Lightning Bolt: I did not see as many opportunities for this trade as I thought I would, and the ones I did get, did not seem to be very convincing for the strategy. Mountain Pass: I tried this strategy in the last week. I can see it becoming my new favorite, because I like it a lot. The rules are very clear for when and how you should enter, and when you should not. This is a HOD/LOD reversal strategy and I will need to get used to finding and watching stocks for this. Range Breakout: This isn’t really a strategy, because it has no rules. It’s just me watching a stock oscillating in a range and entering upon breakout. Not really working too well though. No Strategy: These are trades I make upon impulse or whatever, without following any rules or strategy. The times I try to chase a bull run for example. Interesting that I am slightly green on these trades! Going Forward Focus on ABCD, 5min ORB and Mountain Pass Strategies, and develop my playbook for these so I have clearer rules for entering and exiting trades. Learn more about reversal strategies. Not necessarily to be able to trade them, but to help me identify them and (for example) see the difference between reversals and pullbacks on ABCD patterns. Not make “no strategy” trades as this is bad discipline Continue to watch and try and read L2 tape

Hey Javier, e-mail [email protected] and mention code BearBullCMEG2018 to get access to the discounted rates.

I agree, I do not take ABCD patterns if they cross the VWAP. Those trades are unreliable in my opinion. I want my patterns to respect moving averages as much as possible.

Here is some things to think about (Just remember I'm relatively new at this too so take it or leave it, I've just been trading ABCD's a bit longer) - You took the trade around VWAP. Things can get fucked up around VWAP, especially close to the open. I personally would have avoided this trade for this reason alone. ABCD pattern is a trend continuation pattern, as soon as the VWAP gets encountered, it has a ability to reset trends. What we see here is a VWAP reversal. This pattern is more suited to a VWAP focused trade than ABCD I think. - Stoplosses for ABCD trades often shouldn't be too tight, especially if you are entering before any breakout where it is often placed below the range. It seems to me here like you would have been stopped out even if the price action did eventually go in your favor. - Your first entry was made after very little pullback, and only one red candle. For me this wouldn't be enough to warrant entering for an ABCD. - Once the price dipped down below the VWAP, I would classify this as a potential type C ABCD pattern - as in the pullback is now steep. Aiman says for these you should wait until a second bounce on the resistance (often 9ma) to see which direction it will go (because often it does exactly what you see here). Hope some of this is useful.