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Mike B

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Mike B last won the day on February 19

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  1. February 21, 2019 - Nothing today I had $CAR, $CGC, and $MU on watch; however, nothing met my criteria. $MU had a nice Bearish engulfing crack and $CAR had a great double bottom. Sample Set Results P G S G S 6 7 8 S S 11 12 13 14 15 16 17 18 19 20
  2. February 20, 2019 - $BHC (Stopped Out) & $BHC (Stooped Out) Very interesting learning day today. The stock met my trade plan and entry criteria 3 times. I took the the trade the first 2 times and got stopped out both times. I packed it in for the day and the third entry and move in my direction right to the profit target happened even before I took take a screen shot. Although it moved in my direction, I had to remind myself that I traded well, executed my risk management well, and up until I saw the move on the chart, I controlled my emotions well. Additionally, I had to remember that this time it moved in my direction; however, it was just as plausible that the stock would have broken all the moving averages and gone to the long side for the same big movement resulting in my account being blown up. No matter how painful the past 2 weeks has been, facing these back to back to back losing trades is exactly why I wanted to do this sample set. I pretty sure I heard somebody say Day Trading is not easy, I am finding out that might just be an understatement. See ya tomorrow. Sample Set Results P G S G S 6 7 8 S S 11 12 13 14 15 16 17 18 19 20
  3. February 15, 2019 - Traded in Simulator February 19, 2019 - $JD did not meet a 15 min ORB, but it had a great setup for a 5 min ORB. Sample Set Results P G S G S 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
  4. February 14, 2019 - $MU (Stopped Out/Outside Edge) 2 days in a row I have traded outside my edge. Items in Bold are my analysis done during lunch. After reviewing the trade and getting it ready to post, I noticed I was making a fatal error unknowingly to myself. I was forcing the trade to be within my trading edge, because I have not had the week I wanted. I originally determined this trade was within my edge; however, it did not meet risk analysis, so I should not have taken the trade. Sample Set Results P G S G S 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
  5. February 13, 2019 - $MU (2 Trades Outside Edge) Today is one of the days I lost my battle against FOMO. Three 5 min ORBs all of which had awesome setups feed into my urge to trade. $MU met my trade criteria, but pasted my stop loss before providing an entry point, which usually means I do not trade it because the stock is choppy. Instead, I decided to trade outside my edge when I saw $MU consolidate at the 9 SMA and start moving back up. When it broke the open of the previous candle on the 2 min chart, I entered, but forgot to move my stop loss to the new point I wanted resulting in my $ risk being more than I wanted. I decided just to exit the trade, reset the stop and move on from there with my plan. I took out a portion at the high of the day, I then took out another portion at another Resistance level, I exited when the stock engulfed on the 2 minute chart. After pondering the day and reviewing the trade later, this was good trading with regards to risk management and profit taking; however, this was not within my edge and my plan for the day. Sample Set Results P G S G S 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 
  6. February 12, 2019 - $MU met my trade criteria, but I did not get a pullback to enter on. It popped up right after the close of the 15 minute candle. Rule 15 for me is that if I miss the entry cut my losses at $0 and move on. In the past my biggest losses have come from chasing a stock after I miss the entry, which then messes up my risk/reward ratio. I had to fight the urge to stay out of the trade but managed to do it. Instead I dealt with the should have, could have, but did not. To manage that I just went back in the journal to my biggest losses and said to myself that is why you did not enter. Sample Set Results P G S G S 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
  7. Peter, After a few months of finally getting tried of trading just to trade, I have been able to develop a solid set of criteria that must be met before entering a trade. I wish I had done this in Simulator. It has definitely cut down on my FOMO, calmed me down while in the trade, and has allowed me to focus on developing my trading skills. Once I can get to a spot were I can trade both 5 minute orbs and 15 minutes in the same day, I think I will be at a spot where I can start to increase my risk per share.
  8. February 11, 2019 - $AMD (5 of 20) - Stopped Out I held on to my loser too long. I should have exited before my planned stop when the stock failed to make a new 5 minute low. Although you should not alter the sample set after starting, this is a rule that should have been in there before I started. New Exit Rule - If after I enter the trade the stock moves against me in the area between my entry and stop, I will exit if the stock fails to make a new 5 minute high/low. I will re-enter if goes back in my direction. Sample Set Results P G S G S 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
  9. Peter, I remember doing the exact same thing in sim. Jumping from one strategy to another as I saw things pop up, always having a fear that I would miss the trade. If there is one thing I could recommend to you before going live is to clearly define your Edge (trading strategy) that works for you. The emotions you will deal with when you go live will only be compounded if you do not have full confidence in your entry and exit strategies. If you find yourself having issues with FOMO, I recommended facing it head on by limiting yourself to more extended time frames. You can always go back to shorter times frames once you have it under control. Once I get through this sample set, I am looking to incorporate the 5 min ORB back into my trading. My end goal is to trade 5 min ORBs, 15 min ORBs, followed up by "Robert H the great reversal", as all these build on another.
  10. February 8, 2019 - Did not get to trade today. Below is an image of the post trading analysis of two stocks I had on my watch list prior to getting pulled into work early. Sample Set Results P G S G 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
  11. February 7, 2019 - . $MU (4 of 20) - Hit near profit target. Sample Set Results P G S G 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
  12. February 6, 2019 - No Setups on my Watch List. Sample Set Results P G S 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 I was watching $ATVI, $GM, $SNAP. My trade analysis that is off to the right is based on these three stocks. I have $MU on the chart side as it did met my trade criteria, but due to not being on my watch list I did not trade it. I added to show that the setup produced a trade that would work.
  13. Thanks Carlos, I got a second part above that portion that tracks my morning/evening routine, rule following, and how I feel each day. I am check box kinda person as it keeps me on focused and on track.
  14. February 5, 2019 $AMD (3 of 20) - Stopped out Sample Set Results P G S 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Picked the wrong stock to enter today out of the 2 that met my edge. Not getting a full night's rest definitely made it hard to focus this morning.
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