Mike B

Janaury 23, $PCG I feeling a little behind the markets all day today. Missed a 5 min Orb on $MU, and a 15 min Orb on $JD. I knew coming into today that I was just not on top of my game. I wasn't tired but I could just feel my mind was not operating at the speed it was the past couple of days. I was able to keep myself calm and I got a setup for a breakout on $PCG. I was a little worried about it prior to entering because, I just like the previous trades, I had missed my normal entry. If you look you can tell the entry came on the second time it broke the price level. When I saw it hold the moving average and go for the break, I decided to enter anyways. I should have moved my stop up from my original stop and it would have given me a better risk to reward. I ended up cornering myself and introducing added friction to the trade as I was on a time crunch with taking my daughter to school and I had not gotten the partial yet. I have no plan for this situation, so tonight I developing a plan when this happens again. I was lucky and got the partial prior to leaving and set a range order for my 2R level. As it is a morning trade I only look to get to 2R on this. Overall, a good day and I will take it. I am not worried about the run afterwards, because it in not within my current plan. Maybe later I will start at looking to take advantage of these. Once I get through 20 of these moving average breakout trades, I am going to consider looking at increasing my risk per share. But for right now I need to gather data on this setup.

I usually look on the 1 or 2 minute chart for the touches. Once you start looking for them you will be surprised at how easily they jump out at you.

Hey Rob, 1. I use 2 minute for step 3 only. If I get more that is better 2. I will trade it on the break out of 2 if the level 2 support it, but I prefer 3 touches 3. The ascending/descending triangle almost always appear because of the requirement of no new 5/15 high/low. 4. It depends on the stock, I prefer it to not be equal. Meaning you can tell there is more bids then asks or vice versa.

Hey Rob, Here is a break down of what I look for on what I call a moving average cross over layered with Thor's PLBO strategy. The numbers coincided with the images below. For this example I am looking for a long. 1. After 7:00am I switch my layout to where I have 1 minute thumbs on my center screen and two trading screens on the side (2 second image). I am looking for the 9/20 to cross while sloping towards the 50 MA on these thumbs. 2. Once I see that indicator I pull the stock up and I look to see if it will or has made a new 15 minute low. If it has than I move on. I do not want it to make a new 15 minute low if I am going long. 3. I than go to the 5 minute chart and look or the same thing 4. I than move to the 2 minute and check to see if the 9/20 moving averages are sloping to cross the 50 MA. 5. I than determine if there is an entry point by looking on the charts to see if there is a price level that continuously is getting tested. If there is I mark it and than go to the Level 2 to see if there are orders building up on the other side of that level. If there are, I check the risk to reward, then input a stop limit order for the entry just above that level. Let me know if that helps. It can be confusing as it has a lot of moving parts. I got eaten alive in August because I didn't really have a defined area to take an entry. Once I added Thor's price level breakout to it. It has been producing solid results.

Hey Rob, Yes it is planned but my entry is more based on a price level breakout that Thor discusses; however, the setup is based on the moving averages crossing over. I will make a post tomorrow about the process with some screen shots. Basically, I am looking for 9 and 20 to cross on the 1 minute while sloping towards a cross of the 50 on the 1 minute, while at the same time the 9 and 20 on the 2 minute are sloping to cross the 50. Then I am moving to find the price level with a build up on the level 2 for the entry.

Glad to here.

Jan 22, $MU Got a nice setup early in the morning today on $MU and unlike yesterday, I executed the partials much better. I took a partial at 1R and my out at 2R. It did run a little bit past my 2R level but would never of made it to my next level. For me right now it all about sticking to a workable plan and executing it. I am not worrying about the few cents here or there that I miss out on, because when I was doing that I ended not getting those few cents on top of messing up my other partials. I have plan and I am sticking to it. Ended the day at 1.5R and completed this sample set of 20 twenty trades. I am not seeing my orb strategy set up very often but I believe that is because of the current market. I am fine with it. I know it works and eventually it will start appearing again. Until than I will keep trading this moving average cross-over layered with Thor's PLBO. See you all tomorrow in the chat.

Hey there, 1. You shouldn't have to change to limit. The only thing I notice different is you have no variance in your price. Everything is set to 0. I would try to change it to .01 and see if that helps. I have not had any issues getting filled at the prices I want with the scripts below. 2. Yes definetly change the TIF to "Day". Once you go live if your script or montage is set to "Day+" it will not execute. I learned that the hard way. 3. Here are my hotkey scripts Live Script Long StopPrice=Price-0.01;DefShare=BP*0.97;Price=Ask-Price+0.01;SShare=17/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare;TogSShare;ROUTE=SMRTL;Price= Ask+0.05;TIF=DAY;BUY=Send;DefShare=200;TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0.1 ACT:SELL STOPPRICE:StopPrice QTY:Pos TIF:DAY; Short StopPrice=Price+0.01;DefShare=BP*0.97;Price=Price-Bid+0.01;SShare=17/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare;TogSShare;ROUTE=SMRTL;Price=Bid-0.05;TIF=DAY;SELL=Send;DefShare=200;TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice+0.1 ACT:BUY STOPPRICE:StopPrice QTY:Pos TIF:DAY; SSR DefShare=BP*0.97;Price=Price-Ask;SShare=17/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare;TogSShare;ROUTE=SMRTL;Price=Ask;TIF=DAY;SELL=Send;DefShare=200; Sim Script Long StopPrice=Price-0.01;DefShare=BP*0.97;Price=Ask-Price+0.01;ACCOUNT=TRCME0877;SShare=17/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare;TogSShare;ROUTE=SMRTL;Price= Ask+0.05;TIF=DAY;BUY=Send;DefShare=200;TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0.1 ACT:SELL STOPPRICE:StopPrice QTY:Pos TIF:DAY; Short StopPrice=Price+0.01;DefShare=BP*0.97;Price=Price-Bid+0.01;ACCOUNT=TRCME0877;SShare=17/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare;TogSShare;ROUTE=SMRTL;Price=Bid-0.05;TIF=DAY;SELL=Send;DefShare=200;TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice+0.1 ACT:BUY STOPPRICE:StopPrice QTY:Pos TIF:DAY; SSR DefShare=BP*0.97;Price=Price-Ask;ACCOUNT=TRCME0877;SShare=17/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare;TogSShare;ROUTE=SMRTL;Price=Ask;TIF=DAY;SELL=Send;DefShare=200; Let me know if this helps, or if you are continuing to have issues.

January 23 - $MU I had a decent day, but still having some issues with the montage input. I am going to do some remediation today on it. I am not sure what is but I will see with the DAS replay today what I keep messing up. Other than that it was a day to be patient. I had several setups in the morning and early afternoon, but just as they were getting to my entry order, the stock would reverse and break the setup, so I would move on to another stock. $MU though was not bad today. I got a good entry at 58.71 and set my limit order to partial at 1R, except that instead of covering I added to my position. I quickly implemented my crisis response plan and covered some and set my break-even to may new average cost. Unfortunately, the stock pulled backed to this level and I exited. Had I not had this error the stock would have made it to my 2R level and the plan would have worked. This is a perfect example of why you need to focus while in the moment and execute well. The good thing is that I did not get over excited and just managed what occurred after that.

This forum will be used for questions for Igor and Adrian's How to use Chartlog success Webinar on Wednesday January 22, 2020.

Have you ever considered using Kyle's hotkey for position sizing based off of $ risk per trade or BP %? I highly recommend it. The hotkey completely changed how I felt upon entering a trade. I no longer ever had to worry about having too large of a size because I was always risking the same amount.

January 13 - 18 recap, This year I decided that I would post my weekly recap analysis in addition to my daily journal postings. Near the end of the year I felt I was not giving due diligence to the weekly and monthly analysis, so in an effort to keep myself accountable I figured I would post them in this journal. Top Three Good Trends While in the trade, I did have any issue with sticking to my profit taking plan. Whenever, I began feeling that mind was racing towards justifying why something would not work out, my mantra of discipline, courage, impartiality, patience worked well to calm my emotions. Although, I gave into my FOBW a couple of times this week, I also faced it head on and conquered it. I have to remember, that you cannot pick and choose which setups are going to work or not work. It is random and the only thing you can do it take the entry when the setup appears if it meets your edge. Currently, my edge has a higher probability of working; therefore, take the trade and move on. My ability to recognize my emotions is improving, even though I was not able to catch myself sabotaging my exits before they occurred, afterwards I was able to recognize them and have begun developing a process to prevent it in the future. Bottom Three Bad Trends I was not confident on my entry and sticking with my pre trade routine and execution. I had a lot of hesitation on the entry because of a feeling of being wrong. I had several montage entry issues this week. I would enter the wrong number or flip the numbers. I need to come up with a smooth executable process for executing the entry of the price. This also goes for the excel worksheet which determines the outs My emotions right near the entry point truly ramp up and my mind starts to focus more on the reason not to be in the trade instead of the reason to be in the trade. Focus Areas Next week My psychology right before the entry Self-Sabotaging acts Stop loss placement and why I am choosing that area for a stop loss

Jan 16 Tough day to accept. I chickened out of taking an entry to the long side on $MS. I went through my process flawlessly, felt good and then at the very last moment I listened to my fear and canceled my stop limit order because I justified it by seeing an order down at 56.16 on the level 2. My stop was set at 56.10 and my entry order was set for 56.29. I think these are the toughest mistakes to deal with as you know better, but still make them. It was a total FOBW (Fear of being Wrong) that kept me out of this trade. My number 1 weakness that I confront every day. As I have to drive to San Diego, I figured I would trade between 8:00 and 10:00 which are not my normal hours as I wanted to get a trade in. Well at least my number 1 strength (discipline) reminded me different and I called it a day without taking a trade. Not sure if I will be able to trade to tomorrow, we will see how much sleep I get tonight. Safe trading everyone.

Keep up the good fight and maintain good risk management and you will survive.

Jan 15, $PINS I had an intersting morning as I seemed to just behind the price action all day. I think it is because I am a little sick and just tired in the morning trying to get going after the medicine. Came back in the afternoon and was able to get a trade on $PINS. I made a rookie mistake on my first trade as I entered a stop limit order with the wrong price. i.e I enter 12.91 instead of 21.91, so I got filled right away and than ended up getting stopped out quickly again. I disregard the trade and re-entered my stop limit order the correct way and executed the trade well. I was not over excited or anixetious while in the trade. i was pretty calm and just letting it play out and did not let the previous trade determine what I was going to do. I ended up getting a 1R, 2R partial and than stopping out at B/E.