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Showing content with the highest reputation on 10/16/2018 in all areas

  1. 1 point
    I will be there. Looking forward to it.
  2. 1 point
    Hi @bclark413... we have this ORB discussion with examples and videos
  3. 1 point
    "It doesn’t matter how successful or unsuccessful you are right now. What matters is whether your habits are putting you on the path toward success. You should be far more concerned with your current trajectory than with your current results." @JamesClear
  4. 1 point
    My take: It broke VWAP on the 5 min, but the wicks shot below on the next candle so you didn't have any confirmation of a close above VWAP. Wait for confirmation of a candle opening an closing above VWAP for a sign of a reversal. I read that first chart from the massive drop in the first 5 minute that the ABCD you're seeing isn't there, it's upside down. So the marks where you bought would to me have signalled a potential to short, because it broke down hard at open, continued a downtrend, and pulled back to VWAP, but never confirmed a reversal.
  5. 1 point
    See this post for a Hotkey that calculates # Shares based on max dollar risk:
  6. 1 point
    See chapter 3 in 1st Andrew´s book or Chapter 7 in the new one (position sizing): Step 1: 1% of your account (max risk per trade) Step 2: Risk per share: (this depends on strategy) Step 3: Step 1 / Step 2 = Max number of shares you are allowed to tarde You can risk less per trade as you are a begginner...
  7. 1 point
    A better example is taking 1,000 shares with a $25k account. Since your buying power is typically 4:1, you can take a position up to $100k using leverage. 1% of your account is $250. This means 0.25/share on 1,000 shares. The important part is to find a stop loss at a technical level, and figure out the per-share loss. This will determine the maximum share size you can take. Stop loss first, share size after. Using the same numbers above, a 0.50 stop loss would mean taking 500 shares. And so on and so forth. The 1% rule is a maximum. You can always risk less, but never more. When I traded 100 share lots, I pretended that my account was $2,500. All risk management and daily goal/loss calculations were based off $2,500 and not the full size.
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