Jump to content

Leaderboard


Popular Content

Showing content with the highest reputation on 03/25/2019 in Posts

  1. 2 points
    I pretty much did the same thing, but hotkey mistakes are really messing up my trading. Ive since introduced HOT Buttons in muy montage and are pretty clear to me. I still use hotkeys but have these just in case as some hot key mistakes can be costly in the challenge on monday. Looks like you are well prepared. I have to start journaling. I like the idea of putting sticker on the keyboard Good luck friend.
  2. 1 point
    I've been trading in a different simulator since Jan 29th 2019. I started using DAS this week as part of the BBT challenge. Im not very good at editing my screen shots, but hopefully I get better as I do these journal entries. Made a mistake putting order in first thing. Trade one: My plan was to go short when it broke below 17.00 with target of 16.00 and stop of 17.25 or go long when it broke above 17.81 with target of 18.60 and stop of 17.60. I got in and added to my position as the price rose (this whole time Andrew was also shorting the stock) I watched the price spike twice to my stop, a stayed in because it would immediately fall back down. Then I covered at 17.35. I SHOULD HAVE STUCK TO MY ORIGINAL STOP. Trade two: I got back in short (should have waited longer, did this as a revenge trade), added to position when it spiked and failed. Took profits several minutes later, I was practicing putting orders in as I did this. Trade three: When I saw it fail to move above the 200 average on the 1 minute, I went short again, the first partial on this trade was a mistake, messing with orders again. The stock slowly fell throughout the rest of the day. . Thanks for taking the time to look, any feedback is welcomed.
  3. 1 point
    Monday March 25th, 2019 Sleep: 7 hours. Mood: good, ready to trade. first trade of the day was in AMD. i was waiting for a pullback after the first five minutes for an ORBU but i never got an entry, then it sold off with the SPY and i thought it should take a short position. i wanted to get in at the PDC but when it pulled back it bounced off the previous day low so i got in risking the PDC and was trying to get to the low of the pre-market. i sold some at 1R a little bit because of nerves but also because it wasn't really selling off. i set a range order for the second half at my entry to $26.75 but it wasn't breaking the premarket low and the SPY looked like it was turning around so i just got all out. glad i did i would have broke even on the second half. GOOD: patient with my entry and waited for confirmation it was going lower RFI: selling wasn't great. MOOD: ok, glad to have a winner first day back to live trading. CONSISTENT: stuck to my stops but my nerves got me on my selling. I'm happy with my first day back to live trading. I was busy before the market opened and only had a half hour between meetings so i'm glad to have the emotional control not to take a ton of trades. I'm seeing now that i should have traded in sim as close as possible to live trading all of last year. It's a way easier transition to live if the only thing i changed from last week to this week was the prefix on my account. it really helped with my emotions. What i did good today: emotional control on entering and not chasing. What i did bad today: selling on nerves. What can i do better tomorrow: try and stick to 75% at profit target and 12.5% at next target.
  4. 1 point
  5. 1 point
    March 22, 2019 - $AMD (Hit Profit Target) First sample set I completed today. Had a good trade on $AMD short. I thought I might be able to let the last little bit run longer but the stock bounced back, so I got out completely. Sample Set Results P G S G S 6 7 8 S S P G G S G S S P S G
  6. 1 point
    Tonight, added some more hotkeys, and put stickers on the buttons. Even though Andrew stresses in his books that traders need to use hotkeys to be successful, I didn't realize how much of a difference it makes until I started using them.....and its only been one day. I'll never go back to point and mouse click.
  7. 1 point
    Friday 3-22 Only made one plan before the open. I did not wait the 3 minutes like my rule states before trading, I traded on the first candle. Trade 1 Shorted, then added to position, took profits on reversal. Trade 2 Long, took profits, then final at break even Trade 3 Short, could have held for more profits, but decent trade. P&L Trades Hand written journal entries
  8. 1 point
    Thursday 3-21. Horrible day. Kept trying to long a falling stock. Each time doubled my entry share size to try and make up for the prior loss(es). Ended up -$5,555.....Once my losses hit $1,000, I lose it. This has now happened twice since I started trading. Glad these have just been sim accounts.
  9. 1 point
    Hi Kevin, Hope all is well! This scenario you are describing is a big challenge for many traders trading small accounts. This is my advice and opinion to this situation. For me most important thing is that the trading process and execution stays intact. If you are trading well and taking profits as you should and your Gross P&L is green that's a win. You should not change your trading style or execution to try and save on commissions as that can have a negative impact on your trading. You start taking bigger share size to make up for commissions. You are not risking more and that can have a negative impact on your account's bottom line when trades go against you. Wait until you are more confidence and consistently profitable to start increasing size. Let the progress of your trading determine when you increase your size not the fact that you want to save on commissions. Change the way you think about commissions. Think of commissions as a fee you pay monthly to be able to learn how to day trade and gain experience in a live account, not as a fee that is taking away from your profit and great trading. Focus on your gross P&L instead of your net P&L, this is very important with small accounts. As you grow your account the commissions stays the same but your P&L starts to cover commissions. Continue to trade your plan and keep the same execution process that is working, you want to build great habits from now that will be beneficial as your account grows. For example if you let winners run longer thinking about covering commissions you can get in a situation were the stock might pullback on you due to not following your plan. You do not want to think about commissions while trading as it can change your judgement about the trade possibility creating bad decisions. There are some options that will help compliment your trading style for small accounts without changing your entire trading technique. If you are scaling out continue to do so but maybe this time you take 30% off instead of 25% and scale out less. As you get better in your trading and the account grows these issues with commissions will not be a thought at all. Focus on the process the P&L will follow. Carlos
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.