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Everything posted by Mike B
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Live Journal Exercise – Learning to Trade an Edge like a Casino
Mike B replied to Mike B's topic in Day Trading Journals
September 16, 2019 - 1 Stop, 1 Stop due to market close All I can say is that I am ready for this sample set to be done. Win percentage 41%. Worst yet. Oh well, still have to calculate the % on the equity account with ECN and commissions to see how it turned out, but I know for sure it is way better than I would have been trading the previous way. All day trading today was nice. I did not get anything at the open. I almost went long on $OXY, but it just was not within my setup. I had $OXY, $GM, and $AIMT on watch at the open. I almost went long on $GM on a moving average cross but I got interrupted right as I was planning the entry. I stayed on until around 8:00am and decided to go for a run and come back around 10:30am. By the time I came back, a few stocks $HAL, $WLL, and $SQ all made good moves off of a moving average cross. Let the FOMO begin. I eventually found a good setup on $HAL and $WLL around the exact same time. I choose to go with $HAL and got stopped out because I placed my stop too close to the 50 SMA. A mistake by me, I should have had the stop a few cents higher. I got another entry opportunity shortly afterwards with a valid independent setup. It did a move but it just did not go for the second leg. I stuck it out through a strong pullback that never quite reached my stop, but eventually had to get out as the close was approaching. I end trading around 12:40 no matter what and the price action at that time was right around my entry. Sample Set Results, S 2 3 P 5 6 P G S E E S P P E S G S G S E -
Live Journal Exercise – Learning to Trade an Edge like a Casino
Mike B replied to Mike B's topic in Day Trading Journals
September 12, 2019 - 1 Goal, 1 Stop I took a 5 min Orb on $BHGE and got stopped out. It was a good setup with a good risk to reward. I exited before my planned stop loss but it was because it closed above VWAP and 5o SMA. I than transistioned to 15 min Orb and did not have any good indicators, but I did see the moving averages on the 1 minute on $BHGE about to cross, so I switched my platform and started looking for my MA-S setup. I got it and I did not chase the entry and waited for it pullback and break on a 5 minute setup. Entry was excellent on this trade, but my trade management was lacking. Probably a little to do with the loss before this trade. I was a little late on my range order and limit order entries, so it caused me to miss my 1R out. I canceled the order and just took a partial near 1R. Then I repeated the entire process to include missing my 2R level and canceling the orders again and taking a second partial a little short of 2R. I than changed my profit target and ended up getting stopped out at my 1R level. I should have let it run as the stock never tested my entry and eventually ran to my profit target of 3.7R. Oh well, still a green day. Better management tomorrow on Friday the 13th. Sample Set Results, S 2 3 P 5 6 P G S E E S P P E S G S G 20 -
Rob C's Trading Journal - starting Feb 1 2019
Mike B replied to Rob C's topic in Day Trading Journals
Very nice Trade -
Live Journal Exercise – Learning to Trade an Edge like a Casino
Mike B replied to Mike B's topic in Day Trading Journals
September 11, 2019 - 1 Goal I was still able to get a good hour of trading in before heading off to work. I had $PLAY, $MU, and $ATUS on my watch list. I did not plan on trading 5 minute opening range because they just have not been giving me the setups I like, but I did make the decision that if I got a great setup I would trade it. I got it on $MU, although it was a little later than a 5 minute Orb. I took an entry after it rejected VWAP/50 SMA and broke the previous candle, moving averages, and a resistance level. I got a little worried as it started chopping around the VWAP and even more nervous when Andrew decided to exit his position around the 0944 time. I almost got out, but made the decision that I would hold to my stop at 50.26 or a close below VWAP. It was reassuring that each time the price action touched VWAP that it quickly rejected it. I took my first partial around my 1R level and I stuck with my trading plan A of exiting my full position at the profit target. I did have an issue as I inputted my range order but it did not fill and the stock began to reject the 51 level, so I removed the range order and decided to exit with the hotkey. Overall I was happy with this trade. I did start looking for a 15 minute Orb, but nothing was there so I switched to my afternoon setup and began looking for a moving crossover trade. I did not see anything I liked so I called it a day and started journaling as I knew I would not be able to trade the afternoon. Sample Set Results, S 2 3 P 5 6 P G S E E S P P E S G 18 19 20 -
First day is always hard and if it is not it can defiantly do some damage even though you may not think so. Just ask William H. What was the % of your lost to your equity account? That is the number you truly want to focus on, keep it below 1-2% and you will survive.
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I feel you. the opening range breakouts are not producing good results now. I stopped trading the 5 min Orb until I start seeing the continuation on them. Today it seemed all the 1st 5 minute candles got engulfed.
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Live Journal Exercise – Learning to Trade an Edge like a Casino
Mike B replied to Mike B's topic in Day Trading Journals
September 10, 2019 - Short day Pretty quiet day for me as I did not want to force a trade anywhere. I had $T, $CTRP, and $WEN on the watch list. I would call today a day to take a position in the opposite direction of the 5 minute candle. I think only $ROKU gave a good Opening Range setup. Everything else was momentum or taking a position before or after the cross of VWAP. I almost got into $WEN short around the 9:45 mark but the 5 minute was way to choppy and the 15 minute candle was white and above VWAP. Not a good indicator to take it short. It was a good day for anyone trading engulfing patterns though. I switched over to my afternoon station for about 15 minutes before having to leave for work. There was a nice setup on $ACAD, but it happened before I switched over so I missed the entry. Oh well better luck tomorrow. I am trading for a good solid hour in the morning before having to go to work. I am hoping to find something to trade. -
Welcome, Good trades today
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Live Journal Exercise – Learning to Trade an Edge like a Casino
Mike B replied to Mike B's topic in Day Trading Journals
September 9, 2019 - 1 Partial, 1 Early Stop, 1 Stop Today was an emotional roller coaster. Ended the morning session happy with a partial and an early stop, took a run around the neighborhood, and came back for the close. Got stopped out on $MU with a hotkey. I was happy with my entry, but very frustrated at how $MU acted at the end of the day. Came right to my stop, filled my order and then went on run to the long side. Just frustrating sometimes. All of my trades today I was happy with, just frustrating at the outcome of them. To make matter worse the two stocks I did not take in the afternoon moved perfectly for me. Again frustrating at the outcome, but happy with my trading. 1 Partial, 1 Early Stop, and 1 Stop w/Hotkey error. The best thing is looking at the streak of Red, I am still just down commissions with the new risk management plan I put together. Sample Set Results, S 2 3 P 5 6 P G S E E S P P E S 17 18 19 20 -
Live Journal Exercise – Learning to Trade an Edge like a Casino
Mike B replied to Mike B's topic in Day Trading Journals
September 5, 2019 - Nothing I had $MU, $SIG, and $CIEN on my opening watchlist and did not get my entry with any of these stocks. It did feel good to watch the charts all morning without the FOMO because I knew my entries were not preset. I switched my display after 30 minutes and started looking for moving average cross-overs. I did not get any to appear in the time I had to trade. I was planning to come back for the afternoon, but work over took my lunch so I ended up not getting to trade. Better luck tomorrow. Sample Set Results, S 2 3 P 5 6 P G S E E S P 14 15 16 17 18 19 20 -
Welcome to the community
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Live Journal Exercise – Learning to Trade an Edge like a Casino
Mike B replied to Mike B's topic in Day Trading Journals
September 4, 2019 - Partial & Hot key Error Today I had $MU and $BOX on my watchlist for 15 min Orbs. I decided not to trade 5 min Orbs until I start to see some stocks continue trending after the orb. Right now I am 1 for 6 on 5 minute orbs. I almost got into $MU after the 15 minute mark, but the risk to reward was not there. $BOX did met my setup, but the volume and the price action where not smooth, so I decided to stay away from it. It did make a move but I would have gotten stopped out before the move. After 0700, I switched my display and started filtering through my Moving average crossover stocks to see if anything look promising. $FB and $AMD both looked promising, so I started watching them. They both met my indicators and confirmation, but $FB did not break the 50 SMA, while $AMD broke, so after a little battle with my emotions I entered it at a good level. I set my Limit Order for my 1R partial and set my Range Order for my stop loss and profit target. I got my partial and then made a hotkey error when adjusting my range order and covered all of my position. I am going to have to work on that. Overall though a good trade and I was happy with it. Sample Set Results, S 2 3 P 5 6 P G S E E S P 14 15 16 17 18 19 20 -
San Diego Meetup October 26, 2019
Mike B replied to Andrew Aziz's topic in Members Introductions & Meetups
I am in. I will start organizing the venue and details for October 26, 2019. Date: Saturday October 26th, 2019 Time: TBD Location: TBD Attendance: Open to everyone including Non BBT Members. Please sign up using the attendance sheet link below. https://docs.google.com/spreadsheets/d/1uRsXyylg8nVaIXEDV_3Cm39R2abmfD15/edit?pli=1#gid=781022680 -
Nice trade on $SNAP. I took the same trade, it looks like you got in right before me. I think my stop was at the same level or pretty close. I got out when it was having trouble pushing past the 16.35 price level with a lot of bids. I think it tested it 3 times before finally popping up and just barely touching the high of the day before reversing on us.
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Playbook is the key that way you can evaluate yourself and see what is working and what is not working for you. It also helps with improving discipline and dealing with trades that just do not work out even though they are good setups.
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Live Journal Exercise – Learning to Trade an Edge like a Casino
Mike B replied to Mike B's topic in Day Trading Journals
September 3, 2019 - E-Stop & E Stop I did not get any of my setups to appear last Thursday and well Friday CMEG had some issues with the platform at the open, so I decided not to trade after that. For today though the question of the day is - Can you have a great trading day still be red? Well I think you can. It may not be the best for the pocket book, but for the psychology it is great. I have had a rough couple weeks, but the new risk management plan still has me in the gross and slightly red net. 4 Green days and 6 Red days or 4 green trades and 8 red trades. My old risk management plan, I would have taken a hit to the account. So I took 2 live trades today. 1 5 min ORBO on $SNAP and a moving average crossover short on $AMD. Trade 1 – I did not get in during the first pull back towards VWAP, because it broke before the close of the 1st five minute candle. I eventually took it on the second pullback and rejection of VWAP. A little higher entry, but it broke the previous candle, a moving average, and a resistance level so I was happy with the entry. It popped up but did not quite make a new high of the day for me to get a partial. A new rule I have is I do not exit within the first 2 candles after my entry unless it hits my stop, after that I re-evaluate the trade and decide either to stay in to the stop or exit at a different point. I exited after 5 minutes when the stock just could not break above 16.35 and lost the 9 moving average. It did make it back to the high of the day, but I would not have gotten filled and eventually would have gotten stopped out. Trade 2 – Between 0700 and 0730 I look for the 9/20 moving averages to cross the 50 SMA on the 1 minute with the slopes of the 9/20 moving averages looking to cross the 50 SMA on the 2 minute. My entry is a break of the 50 SMA on the 2 minute. Today I missed the entry and entered late, causing me to not get a 1R partial and eventually stopping out. I exited early again once the stock closed above VWAP and the 2 min moving averages rolled over. Except for the entry this was not a bad trade. Sample Set Results, S 2 3 P 5 6 P G S E E S 13 14 15 16 17 18 19 20 -
Live Journal Exercise – Learning to Trade an Edge like a Casino
Mike B replied to Mike B's topic in Day Trading Journals
August 28, 2019 - Stop & E-Stop Terrible day at trading after coming back. I must of been a little rusty or over anixious to trade. My first trade was not to bad, except that I entered early and did not let the trade come to me. I contribute this more to I wanted to trade and did not want to miss the move. I got stopped out. Second trade was total revenge, FOMO, or crappy trading, who knows. All I know is I should not have entered, but was happy that I realized it and exited. After that I called it a day. No need to keep digging my hole just to dig. Sample Set Results, S 2 3 P 5 6 P G S E 11 12 13 14 15 16 17 18 19 20 -
Live Journal Exercise – Learning to Trade an Edge like a Casino
Mike B replied to Mike B's topic in Day Trading Journals
Thanks, "Trading in the Zone" was a great book. I read it a couple of times. Trading in sample sets has assisted tremendously with building confidence in my trading edge. I am so looking forward to adding my next trading edge as I have been working on it for a couple months now. I just have to confirm that my entry signal is viable and produces the results I am looking for. -
Live Journal Exercise – Learning to Trade an Edge like a Casino
Mike B replied to Mike B's topic in Day Trading Journals
August 27, 2019 - Had the opportunity to trade today that I was not expecting. I decided after being away for about a week, that I would trade Sim today and prepare for tomorrow. All I did today was work on my entry criteria for my moving average cross-overs and my routine for the afternoon. I was watching $MOMO and $AMD at the open but I did not see any opportunities that I liked to entered. Overall a good day to get back into my routine. Live trading tomorrow to finish out the month. -
Live Journal Exercise – Learning to Trade an Edge like a Casino
Mike B replied to Mike B's topic in Day Trading Journals
DAS became sluggishness, which caused me to look over ta my network delay. Something with Verizon happened today around 1130. I have not been able to get my network speeds back up. -
Live Journal Exercise – Learning to Trade an Edge like a Casino
Mike B replied to Mike B's topic in Day Trading Journals
August 21, 2019 - Nothing I had work today that prevented me from trading the open. I tried to take a trade on $ROKU in the afternoon but ran into some Ping Rate issues followed by internet connectivity issues, so I had to call it a day. The life of a trader on Wifi. Hopefully tomorrow afternoon will go better. Sample Set Results, S 2 3 P 5 6 P G 9 10 11 12 13 14 15 16 17 18 19 20 -
Live Journal Exercise – Learning to Trade an Edge like a Casino
Mike B replied to Mike B's topic in Day Trading Journals
August 20 & 21, 2019 - Profit Target ($AMD) I did not trade on Monday as I had only 4 hours of sleep. Well got an extra day of trading that I was not expecting to get. Actually about an extra 20 minutes. I had $KSS, $TJX, and $CGC on my watch-list today. $KSS and $CGC both opened up well below the VWAP and I was not going to get my edge, so I stopped looking at them. $TJX did not have volume at the open and was choppy around the VWAP, so around the 3 minute mark I decided to take a chance and looked at $AMD. It had just started selling off and eventually have me a pullback towards VWAP. I got my B+ rejection of VWAP setup, so I took an entry. I got a 1R partial and almost got the 2R partial. It touched it, but bounce off it quickly. I decided to take the partial anyways a little above it since a lot of Bids started coming in. I set a range order for the profit target and I decided to set the break-even amount my entry instead of the 1R because the moving averages were above the 1R. I figured it would test the moving averages and either break down again or go back to VWAP. I could have exited one candle before my entry, but I decided that I would let it test VWAP as VWAP was below my break-even point by this time. Sample Set Results, S 2 3 P 5 6 P G 9 10 11 12 13 14 15 16 17 18 19 20 -
Live Journal Exercise – Learning to Trade an Edge like a Casino
Mike B replied to Mike B's topic in Day Trading Journals
August 16, 2019 - Early Stop, Stop, and Partial ($AMDx3) A pretty bad week overall. Out of 4 days, I only met my daily goal of trading within my edge once. I had an issue of getting into the trade before my entry appeared. I seemed to be a little more eager this week than in the past. Overall it was a messy, messy day today. I took 2 trades way outside what I normally trade. 1st one had my entry pattern, but lacked all the indicators and other criteria. I got out when it didn’t drop. I should not have been in this trade. 2nd trade similar to the first. I was forcing my entry plan to meet and entered too early and got stopped out. Where I got stopped out was my indicator to start looking for a good 15 Min ORBO entry. I put the trade behind me and took another trade when the entry appeared. I got a partial at 1R, 2R, and stopped out at 1R. 1 cent lower on the range order and I would have survived and hit my profit target. Oh well. The best thing about this week although, I traded horribly and outside my edge, was that all of my loser were within 1R or less and the 2 winners I had covered the majority of losses. I was still down on the week but last weeks winners still out performed all of this week’s losers. Sample Set Results, S 2 3 P 5 6 P 8 9 10 11 12 13 14 15 16 17 18 19 20 -
Live Journal Exercise – Learning to Trade an Edge like a Casino
Mike B replied to Mike B's topic in Day Trading Journals
August 15, 2019 - Stop and Partial ($AMDx2) Not too bad of a day. I missed my perfect setup on a 5 min ORBD at the open. Man it was perfect, I just hesitated a little bit because the five minute candle was above the VWAP. This lead me to take a bad 1st trade on a pullback towards VWAP. I managed the trade well, it is just not my normal entry. Gave into FOMO. My 2nd trade was much better. Allow I got stuck in chop, it was my entry I like and I stuck with profit taking plan. It eventually hit 1R and I got a partial, and then stopped out at breakeven. The stock never hit 2R before hitting my original stop. Overall a good trading day Sample Set Results, S 2 3 P 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 -
Live Journal Exercise – Learning to Trade an Edge like a Casino
Mike B replied to Mike B's topic in Day Trading Journals
August 14, 2019 - Stop and Partial ($BAC, $AMD) Not too bad of a day today. I got stopped out on $BAC. I had a good entry and decent setup, but I did not manage it well once in it. I noticed the price action was bouncing off the 50 SMA and not breaking it several times. I should have exited near it and then re-entered if it could have broken the level. I exited at the stop but the squeeze filled me a little higher. I than took a short on $AMD for 15 min ORBD and had another good entry. This trade I did not manage the profit taking according to my plan. I took an all out before the 1R level, mainly because I lost confidence in the trade. If I would have stuck to my plan I would have gotten a 1R and stopped at break even. It than gave the exact same entry as before and did the move I was looking for. Not too bad of a day, very comfortable just not happy with how I handled the trades once I was in them. But for a middle Wednesday, I will call it a win. (biggest losing day of the month) Sample Set Results, S 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20