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Showing content with the highest reputation on 03/17/2019 in all areas

  1. 1 point
    Live trading summary for week ending 3/15/19. From a quality standpoint, this week was pretty good. For the most part I took good setups, broke rules infrequently and generally managed the trades OK. Though it’s not supposed to be important at this stage of learning, my low win rate this week started to affect me and I was close to breaking my maximum trade rule on Friday. Luckily I was able to turn off the platform and walk away before taking another trade. My trade evaluation by week: This week was interesting since I finish taking 30+ 2min ORB trades since I started live on the DAS platform. 30 is the minimum trades that I will analyze the data. So out of the 31 trades my win rate on the 2min ORB setup was only 65%. My win$/Loser$ ratio was not very good either making this not a profitable setup. Yes my % is much higher when I don’t break rules, but I don’t want to look at the “what ifs”. What is interesting about the data is my win rate for stocks I have never traded before was 45%. And the win rate for the stocks that I have traded at least once before was 75%. With that info I need to make some adjustments. Now I don’t want to stop taking 2min ORBs on stocks I have never traded before, but I do want to stop the preference I have for new stocks. I am always worried I am going to get into a rut trading the same stocks every day. So if I see a good setup on a familiar stock and a new one, I will always trade the new one. With this data in hand I need to stop that habit. The preference should be in the opposite direction. That will be a focus for next week.
  2. 1 point
    Week 11 Recap · Weekly stats o 1.8 R/R (Goal: above 3.0) [Record: 2.7] o 26/28 93% (Goal: above 80%) [Record: 93%] o -$3.50 (Goal: $250) [Record: $49.03] o 5/7 71% trades with the trend (Goal: 100%) [Record: 71%] o 3/7 43% Early Entries (Goal: 0%) [Record: 17%] o 0/7 0% Letting Losers Run (Goal: 0%) [Record: 0%] o 1/7 14% No Setup (Goal: 0%) [Record: 14%] · Highlights o Didn’t let any losers run this week!!! o Only traded two days but they were both good days of trading o Losers are having less and less of an emotional reaction on me. · Ongoing things to work on o Still too early on my entries. Need to focus on getting with 15 cents of my defined resistance/support level.
  3. 1 point
    Friday March 15th, 2019 Sleep: 8 hours. Mood: good, ready to trade. First trade of the day was in GDS. it was looking like a good ORBU but i'm often early on my entries so i waited for a pullback but the pullback was a complete change in direction. The spread got large right after i got in and it was getting super choppy. it went past my stop loss for a split second and i got out when it came back up closer to my entry. GOOD: got out with less than 1R RFI: it's good to wait for an entry but I have to be aware of the difference between a pullback and a change in direction. MOOD: good. CONSISTENT: yes. Next two trades were in MU. it made a great ORBU and i just watched it run up. i've noticed in the past couple weeks, a stock will make new 5min highs until about 10 and on the first break on a new 5min low it can really fall. I got in for a small position risking the HOTD thinking i would add more on a pullback. i don't know why i got too nervous to add more because looking back it was the correct place to enter. it sold off but not enough for a 2:1 R so i just held. then it made a double bottom and i figured it was going to try and make a new HOTD so i got out of this position for a small loss and got in on the long side risking the double bottom to the break of the HOTD. it hit the PPDH four times and i should have bailed early on this trade but i held on for a full R loss. GOOD: recognized and waited for a short entry with confirmation. RFI: entry still too early on both trades. killing my R/R. MOOD: ok, don't like to lose but it's part of the game. glad i kept my losses under max loss. CONSISTENT: yes i got out on price action i had at the time. All in all not a bad today of trading. true I didn't have any winners today but i'm proud that i kept my losses small. as part of the edgewonk classes, they include this TED talk about how small incremental changes add up to huge life goals. it's really inspiring to watch and I feel like it really applies to day trading on how crucial it is to nail your trade entries. a 10 cent better entry makes a huge difference in a trade. if i had waited for a better entry on my MU short I would have had a green day today. small changes add up! What i did good today: took small losses, kept my emotions in check . What i did bad today: still too early on my entries. What can i do better tomorrow: practice taking your entries within 15 cents from a significant support/resistance or pass on the trade. link:
  4. 1 point
    Friday 3/15/2019 My nerves were better this morning, I had a well-being score of 5/10. I have a new veto rule this week (Spread >0.2%) which I did consciously break this morning. Still debating if it was a good idea to do it. Of course if the trade was a winner I probably would have thought better about it. My one allowable trade today was with GDS. My GDS checklist: GDS had a bullish 2min candle forming and I was waiting for it to break the premarket high at 36.75. Price did a curtsy at that level making it a stronger setup. But, the spread was too high. This week I added a new spread veto rule. It was about .4%. Then just as it broke the TL there was a very large ask on L2. I have never used L2 as part of a decision, though I do look at it. With my finger already on the trigger I took the trade. I took less shares knowing I will get a bad fill. As bad luck would have it the spread jumped to 0.6% the moment I took the trade. Then 1 second later the spread dropped in half. But those are the breaks near the open. But, even with the bad fill I still had a 2-1 reward to risk ratio. 8 seconds later the large ask disappeared and the price fell. I exited right on my planned stop. Even with the spread veto rule break, I think this was an OK trade. The setup was there and I think the L2 signal was strong enough to take a chance over the spread. What I did good today: I kept to my 1 trade/day max rule. Huge FOMO today. I usually trade poorly on Friday and it was really nice to have a positive Friday last week so I really wanted another positive Friday. My finger was right the trigger, then I stopped myself and shut the platform down. How did I challenge myself today? First time used L2 to trigger a trade. Used an updated DAS layout What I did bad today: Broke a new spread veto rule. What can I do better next week: I need to prep and study over the weekend. I usually do, but last weekend I didn’t have a chance and felt unprepared all week.
  5. 1 point
    March 14th P&L After Commissions: $55 Trades: 9 I had a good trading day going that turned into an ok trading day. I am super happy with how I traded for the first 6 trades that I made today. I even got up from the computer and called it quits. For whatever reason when I came back to the computer I took 3 more trades and all were losers. I was greedy and I just jumped into trades without waiting a good setup. $GE - I first went long thinking it was just a pullback but quickly exited. Then I took it short when it came back to the 200SMA on the 1 min chart. It broke under VWAP and I was shooting for a target of $10 which is a lot to ask for with GE, and it never came. I took some profits along the way but got out the rest when it came back above VWAP. The third GE trade, I took long when it couldn't stay below VWAP and was pushing back up. I took it below the 200SMA which was a little risky, but I thought it was strong. It popped up and I held for 25 minutes without taking any profits. I wanted to get back to the HOD and see if It could break it. I was hanging out for most of the time I was in the trade and when it pushed below the 200SMA I exited. Maybe not the best exit since the stock did jump back up, but I wanted to be protective of profits. $AAPL - I saw AAPL couldn't hold above VWAP. I was targetting $183.35 but missed the entry. Decided to still hop in since there was a lot of selling pressure. I was worried that I chased it, but it dropped pretty easily still. My first target was the previous day mark. I first sold 25 of my 100 shares, and for whatever reason I just hit the button to get all out. I was little mad at myself for that. Not sure exactly why I did it. Maybe because the first few GE trades got away from me without me taking profits. $FB - Took FB short when it could break above the 200SMA. Dropped as soon as I got in. First partial was meant for VWAP. Bounced off VWAP pretty convincingly so I took another partial when it came back. My plan was then to hold until the stock wasn't going to go lower. It held at the previous day mark so I took partial profits. I exited the rest when it popped back above VWAP. I held the last shares too long. I saw that it was on the way back up when it started to make its move, I just didn't exit. I still need to find the balance with my strategy if I'm going to hold or take the profits and run. My last 3 trades were just bad trades. There wasn't a good solid setup and I was trying to get a quick buck. Not sure why I did it. I was at $80 after commissions which would have been good enough for me for the day. I went ahead and just took 3 bad trades that I didn't last a single minute in any of them. I wasn't at goal for the day, but I should have stopped since I did walk away from the computer and tell myself that I was done. Need to be better at walking away when I am done for the day.
  6. 1 point
    3/14/2019 Still having issues with scaling out and letting winners run. The day would've been different although I feel like I traded well. Revenge traded $FB Considering adding two scale out hotkeys. 50% and 75% $ROKU - The market got me with this one.. Went short 75 shares at VWAP 5-minute looking for the push down. Set my stop above my entry candle,but probably should've been around the previous candle high. Stopped out before the price action faded down to the 50MA 5-minute (green line). Disappointing trade performance. $ROKU - Other opportunities showed up. I fired on the hot key at the arrow looking for the 9MA 5-minute reject. I almost pulled it earlier, but waited for consolidation. Once the previous 5-minute candle closed below both the 50/9MA 5-minute, I figured it was the perfect set up. Unfortunately, my $ROKU montage was not in focus so my order didn't go through. $FB - At the same time as $ROKU, took a trade on $FB. Went short 75 shares looking for the move down. Got the close below the 9MA/VWAP 5-minute, but I figured the move would happen. Should've waited 1 more minute and would've gotten the perfect entry the first time. Stopped out at the 20MA 1-minute. Got back in short 100 shares the second time thinking that would happen. Got the move down and covered half then all in two steps. Took another trade on $FB. Even though the price action closed below VWAP, I thought it might reject the 9MA 5-minute and reject. Went short 100 shares on the small pullback to the 9MA 1-minute and got squeezed up the next minute. Stopped out. Glad I got out because the squeeze was brutal. Got back in for another short looking for the move back down after previous bearish candles. My signal was on the 1-minute and got an entry under the 9MA 1-minute. Shroted 75 shares, but stopped out. After getting the close below the 9MA 5-minute but above VWAP, I shorted again 75 shares and stopped out. I left $FB alone after that. Definitely revenge traded although I thought that move down through VWAP would happen. It did, but later in the trading day. y $CLDR - Another trade I feel that I didn't handle well. I went short 100 shares with a stop at high of day. I felt the previous 5-minute candle stick showed that bulls were losing momentum. On my entry, the price action dropped. I felt like the price action would bounce off the support under VWAP. I didn't give the price action enough room to close under VWAP. Once the close happened, the price action made the move. Disappointed in this one too. $DG - My last disappointment of the day, lol. $DG made a heck of a move in the first 15 minutes. I waited for a pullback to the 9MA 5-minute. Got that move and I went short 100 shares with a stop above 111. Entry was 110.82. Price action held the 20MA 1-minute and fell. Then, $DG started consolidating on the 1-minute. I covered after a few minutes thinking a squeeze would happen around low of day. Price action fell off a cliff. This one trade probably would have made 5% of my account. BIggest disappointment of the day. Result:
  7. 1 point
    Hey all. I'm back from now! Hope everyone is doing great! Will set the new pc up again. Great day.
  8. 1 point
    That's why i don't doing recaps, and so on... Right now i'm learning, and working my ass off, to learn everything about trading. And just don't have the energy to focus on the forum, and chat. i will be back. MadsFromDenmark!
  9. 1 point
    Week 2: Monday: +55, later that night, it came up in me, and i did see (i traded on the 1 min chart for every trade).. Thursday: +52 Wensday: no trading. Thirsday: +50,69 Friday: -66 First trade of the week: Monday, did have a thoppy day on work, bad sleep.. But decided to trade anyways. I did see later that day, how i traded, and took every trade against my (1 min) .. CLVS: Shares 461 Price 21,65 +42,17 I did not follow my strategi, I was looking on the 1 min chart, and did got short, out from that. But if i just had look on that 5 or 15 min chart, i would never take that trade, out from my strategi... Did scalp out with that Vwap, and was just (lucky) to get out with profit. Bad trade Pets: Shares 319 Price 32,61 -114,84! Bearish engulfing crack, no new 5 min high, got a late entry and should have shorted it when it crack on the 5 min, but was looking on the 1 min chart, and trade (of out that).. AND, i did not follow my stop-loss rule! And because i got that late entry, and not looking for the 5 min, (stop-loss) where i should have set it, i missed a huge move downward!... Just because i traded it on the 1 min chart, and not the 5 min. CLVS: Shares 377 price 21,67 +20,64 Again i did a trade out of the 1 min, shorted it because it broke the (moving averages) on the 1 min, fast scalp out, and out of the break even... If i just look on that 5 min, would i go short in that strong uptrend hell no... Bad, nothing to say on that. CLVS: Shares 592 Price 22,16 +107,30 Small ABCD pattern on 1 min, did buy on the small pullback, and scalp out good. Stop-loss under the moving average. But again, 1 min chart (trade) CLVS: Shares 488 Prices 21,63 +0 Again i did take a trade of the 1 min, break my rule of the stop-loss, and did let it run... Was hopping it to come down. And it did come down, and out in break even...! That one, was a good (learn, money)..! Thursday, 1 trade over and out! Tvix shares 319 prices 49,13 +51,96 Bearish engulfing crack, on the 5 min, no new high on the 1min, wanted it to crack down on the vwap, and the blue moving average.. After i did see that, i shorted it. Did scalp out of the trade, and all out when it hit the 50 moving average on the 5 min. Funny thing, i said it on the chat, that i expected it to crack all the way down to 46, and it did... And because i said that, i did see it cracked it on the 15 min, and got no (support zone) after it. (Just a lesson to me, not to go all out of the trade. Thursday :2 trades AMD: Shares 463 prices 19,41 +21,80 New 5 min high, break those moving average on the 1 min chart, and cracked it on the 5 min, and expected it, to hit (high of the day), It dropped, and got support of the 1 min MA, so waited and lot the trade (handle it) i did see it could't get over that 50 MA, on the 1 min... So i got out of it. and i did see those big sellers. Good trade. ALGN: shares 63 prices: 225,33 +28,69 ABCD patter, on the 1 and 15 min chart.. Did take it of a Moving average trade, and did see it got support of the MA, so got in. Got filed a bit late, did scalp out of it, and was looking on the (s&p500) and it did consolidation period, so got out.. Friday, was no rules day! Said to my self, you now have the time to be on the all day, so you forget your rules, and see how you will handle it. And got damn it was hard, all of those emotions, that came, so (inspired) to see what your rules doing, if you are following them.. I know now, what i do wrong, when i got those emotions on, what takes i trade (for my strategi) and how i fell... Will, do a (new) post, in here only for Friday, because there are a lot in it! Have a great weekend guys! Mads from Denmark! Over and out.
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