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Rob C

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  1. Live trading summary for week ending 9/20/19. My best score card week since I have been tracking it at 91%. I took 9 trades with a win% of ~44%. Since I don’t look at my P/L anymore I am unsure if I am positive for the week but I think I am. I will look at it at the end of the month. Again I had one of those trades that would make my month and I stopped out early by pennies. I also had an issue forgetting I can take 3 trades per day now (with limitations). Though my partial profit taking is still too often the 1/8 share sell/cover button has helped mitigate some of the damage. I took some SIM trades (5/10/15min ORBs) which were pretty good. My trades this week were with AAPL and BABA. Both of their daily charts look interesting so I think there could be another week of trading them at the open. Back test data shows AAPL, BABA, and MU all in play at the open. So I have ample good stocks to trade at the open. Here is my plan for this week: P/L will be closed and not looked at until the end of the month to help focus on process and score card, not on W% and P/L AAPL and BABA both look good at the open. Try to look at both at the open. Keep a close eye on the volume with BABA. Wait for the 100k to arrive before entering a trade. MU is also still in play at the open. It can be become a primary focus if PM volume is there. Keep $30 risk per trade. Even though my score card allows me to increase to $42. I need to keep my risk more constant until I fix my partialling issues. Remember to take an aggressive partial profit if the price reaches the target. Try to exit at B/E after a 1st partial. Don’t look for the rebound. Keep trading 5/10/15 min on SIM Don’t add to any trade, even winners. Continue with the Van Tharp’s Peak Performance Course for Traders. Remember you can take a third trade in a day. Try and take partial profits on the way down as well if you lose faith in the trade. Instead all out at B/E or exit too early. You may take a live trade on a 5/10/15min ORB if you see a good setup.
  2. Friday 9/20/2019 I had a well-being score of 7/10 this morning. I took 2 live trades this morning, with AAPL and BABA. So I am still long bias on BABA with its break out daily chart and good PM. I also have a small long bias on AAPL with its long steady move up in PM. Just before the open AAPL fell 50 cents on good volume. Then recaptured the 50 cents right after the open on enormous volume. The price broke the HOPM and stalled. I don’t take these trades any more at the open. They are essentially ABCD patterns using seconds instead of minutes. But the volume was so high I went long. My stop was an issue. There were two choices. 200MA-1min which was too far away or the 50MA-1min which doesn’t seem to have any strength in the first minute. So I did choose the 50MA but I went half shares because the stop is too tight and not strong. My target was the 222.50 level. The price did pop and I took two very small partial profits. I was waiting for the 222.39 daily level where I was planning to sell half my shares. The price just missed that level and retraced, just enough to stop me out. Then it sprang back and reached my target. Actually, with a little slippage on the exit I did get a tiny loss on this trade. As I said yesterday just a slight change in trade management would have made this slight loss into a solid win. What that change is and how do I get there I do not know yet. Though not right away, volume did arrive for BABA. The price moved up $1 and I was waiting for a pullback. It did arrive and I went long after the bounce from VWAP. There was no good target or stop. So I chose a long stop to the bottom of the previous candle since BABA usually doesn’t respect VWAP for a few minutes after the open. The price moved up and I took a very small partial at 183 and tried to take another partial at 183.20 but got a bad fill. So the third partial was just to make up for the bad fill on the second. But all 3 partials were very small. Then the price reached the 183.38 daily level where I took a large partial profit. Price dropped quickly after that. Then I saw a HUGE sell at the bid in the time and sales window and I exited immediately at 183, well above my entry. I took two SIM trades on MU. First one S/O and second one an OK win. So I am flat for the SIM trades. Score card (live trades). AAPL BABA 91% 96% What I did good today: Wow, really good score cards today. Good watching volume. What I am grateful from today? That time and sales signal on BABA really saved me from that big drop. What do I need to improve on: Nonlinear increase in partial size is working out OK. I just need to keep at it and improve on it.
  3. Van Tharp Institute Peak Performance Course for Traders While I am trying to finish the monster chapter 3 in this course (looks like this chapter may take me a month) I will give an update on my goals. In a previous chapter the course asks you to sent up some short term goals with an ECD. Here are the goals and progress. 1) By end of September get a consistent 6.5 hours a sleep a night (with a min of 3.5 hours of deep sleep). Last week I obtained 6.35 hours average with 3.2 hrs of deep sleep. 2) By October 15 achieve a VO2 Max of 48. My VO2 Max was 44 at the time I set the goal and for the last week I hit a VO2 Max of 46. 3) Improve trading score card monthly average, every month to the end 2019. So far so good, but it has been a close one. 4) Spend 20 full days with family by EOY. So far I have spent 3 since the time this goal was set. But that is actually a lot for me and I am on route to accomplish the goal. 5) Finish the Van Tharp Course by before Thanksgiving holidays. I thought this was attainable until I hit one chapter that will take me a month. Now I am not so sure.
  4. Rob C

    CS - Day Trading Journal

    I am with Centerpoint but unsure if I can recommend them over IB. But you will learn more about your style of trading soon and then you can choose the correct broker for your style. SSR means it is restricted so can only short on an uptick. So if the price is dropping continuously will probably not get a chance to enter. I live in the US pacific time zone. So the market opens at 6:30am for me. So I can trade, drive my daughter to school and head to work.
  5. Thursday 9/19/2019 I had a well-being score of 6/10 this morning. Little bit of a scratchy throat. Kids are sick, so probably fighting off what they have. I took 2 live trades this morning, with AAPL and BABA. It is interesting to see this month and especially today that just minor nuisances can separate you from being consistently profitable and being flat. I control my risk. I keep to my stops and choose appropriate stops. I am usually very accurate with share size. I have been pretty good lately trading good setups and getting good entries. I have tried to focus on the process, I haven’t looked at my P/L all month. But, I have been flat for over 7 months and I can tell, without looking at my P/L, I am flat so far this month. I just need to improve on the trade management. Psychology of course is preventing me to perform the correct management. I have two major issues: 1. It’s difficult to admit that I am wrong a. So I take partial profits to early and often. Thus locking in a win. b. I don’t bail out of trades quickly with terrible fills (R/R is destroyed). Can’t admit I am wrong until I hit my stop. 2. Self sabotaging a. Do you realize how difficult it is to remain exactly flat for over 7 months? It must be unconsciously controlled. b. If I see 4 good days of trading and it’s all given back on Friday c. If I see I am very green after 3 weeks and give it all back on the last week d. The one month I was actually green (+5.6R) I had to trick myself by suddenly choosing to stop trading the last two days of the month to lock in the green month e. Guess what, the next month after my green month was my first red month since January. Guess how red? -5.8R essentially cancelling out the previous month keeping me amazingly walking exactly on a tightrope of being flat. The journaling of today will read the same story. So finally, the setup that I have been waiting for the past two weeks, with BABA finally arrives. In the PM the price breaks through the resistance level creating a huge wedge on the daily chart. I was REALLY long bias on BABA today. Any sign in the long direction and I was going long with BABA. BABA almost immediately created a small hammer with large volume, a few seconds after the open and I went long. Since it was so soon after the open I kept a reasonably large stop at the 180.41 daily level. There was no target. All tech levels were no below the price. The price moved up a little bit and I took 2 very small partials. The price dropped to test VWAP again and stopped at B/E. there was some slippage so I think this trade was a small loss. Stopping at B/E is in my trading plan now. I was giving my stops some room, if there was a strong tech level below it, but after collecting data for awhile it was deemed unprofitable. Now I try to keep the stop tight on B/E. The price bounced and I could have gone long again. I am not sure why I didn’t. I guess self-sabotage. I missed a 7R move. Later, after my AAPL trade, I took a 5min ORBU with BABA in SIM. I am allowed to take a 3rd trade live now, once certain criteria is met. So I could have taken it live. I have a post it note on my screen reminding me of this. I read my daily trading plan a minute before the open to remind me. So did I do it? Nope forgot again….. I told myself it was too bad I am at my limit of two live trades and I took it SIM. I had a long bias with AAPL today as well. I like that it created a hammer on the daily chart with the PM price movement. I liked it was opening just under PDC. I went long on a 2min ORBU when it broke the 50MA-1min and the HOTD. My stop was tight, so I took a lot of shares. Stop was at the 222.39 daily level and my target was the 223.04 daily level. I took 3 partials, all really small. The plan is always take a substantial profit (at least half the shares) if the target is reached. I didn’t and took another small partial at the target. The price dropped quickly after that. I also planned to start taking partials on the way down as well. I didn’t. And with a majority of shares still left the price shot through my B/E for another small loss. Score card (live trades). It is surprising to see how high the score is on BABA trade since it was such a disappointing trade. But, the real mistake was not entering a new trade after the S/O. BABA AAPL 95% 87% What I did good today: Recognized good setups and entered the trade right on time. What I am grateful from today? Seeing the bright side, that I am almost there. Just need to get over this last hurdle. What do I need to improve on: 1) Need to get use to keep partialing as you lose faith in the trade. I seem to always want to take partial profit only on a new high. 2) Remember you are allowed to take 3 trades if the criteria is met. Don’t forget! 3) Take a large partial at the target. Don’t forget. 4) Deal with the self-sabotage 5) A losing trade doesn’t mean you were wrong. It was a statistical setup with proper risk.
  6. Rob C

    CS - Day Trading Journal

    Your welcome. I am going to split the knowledge of getting shorts filled into to two time frames, pretrade and entering the trade. The reason I am providing a distinction between the two, is I know very little about the latter. As for the some of things to look for before the trade I know a little and will mention them here. I know at least short fills (and availability) will be dependent on: Broker, platform, clearing house, route, availability and restriction. From what I have seen IB and Centerpointe seem to be the best for short availability, though they approach it differently. IB has a lot of available shorts. Centerpointe splits their short availability into easy and hard. Their easy list is not impressive. Easy means you can just make a market order and short. The hard list means you have to use their hard to short app. This app takes a few more clicks and is not easy to use near the open. It also charges extra commission and has a 100 share minimum. But using the hard to short app will be bit better than IB for shorts. So if you want to short near penny stocks and are not rushed for time, that is the way to go. For me it killed me that one day I watched ROKU and CGC both taking a nose dive and I had no shares to short on Centerpointe. The platform can make a difference. Hopefully you are using DAS and checking the number of short shares available in the premarket. If it is anything but max I usually don't place it in my watch list. And I assume you already now about the SSR. The clearing house can make a difference in short availability. Please ask you broker about your options. Though some can be better with shorts it may have a trade off like overnight margin restrictions. The route can make a difference, again you can ask you broker for your options and which is the best for shorts. I am paying higher for a route that is very aggressive getting my fills since I trade at the open. Hopefully there was something useful in the list above.
  7. Rob C

    CS - Day Trading Journal

    Great trading day. Good discipline on keeping the number of trades low. Yes getting your shorts to fill is its own skill. If you wait for confirmation of the move there may not be any shorts to fill. It has happen a lot to me since I like to wait for confirmation.
  8. Wednesday 9/18/2019 I had a well-being score of 7/10 this morning. I took 2 live trades this morning, with AAPL and BABA. So AAPL and BABA were on my market open watchlist with MU, AMD, ROKU and FDX on my 2-5min ORB watchlist. Yes I am saying the same thing all week about the open: The setup is the same. The daily charts on both AAPL and BABA still looks interesting, maybe on the verge of a break out. I watched AAPL and BABA at the open. I had a small long bias on AAPL since it commonly has a ~60 cent pop at the open when it has some positive movement in the last hour of PM. AAPL opened above all the support levels and I was waiting for the hammer to form. I tried to go long the moment it turned white, but I saw the pop just after I clicked buy. The order delay cost me about 10 cents, but that’s OK. I already assume that slide and already added 10 cents into my stop when I calculated the share size. My target was the 222.39 daily level with the 200MA-1min as my stop. But the R/R ~3 which I know is a bit unrealistic at the open. But I like the strong levels just above my entry to help pull the price up. The price reversed immediately after I took the trade. But for 3 minutes the price held to a really strong support level above the 200MA-1min. Too bad I have a no add rule to my live trades, because that looked like a great ABCD setup. The price finally started to move up and I took very small partials at the first two levels HOPM and the 221.51 daily level. After that I tried just partialing at the 1min highs until I ran out of shares. BABA actually got volume at the open, but a lot of it was one big buy. I liked the first 1min indecision candle with good volume. I liked all the support levels were already below the price. I tried to go long when the 2nd 1min candle broke above the wick of the first candle, but I got a lot of slippage. But again this is OK I already assumed that in my share size calculation and went long with a 50 cent stop, knowing there would be some slippage. So my target was 180.41 daily level with PDC as my stop. My first partial was very small because it was out of nerves. My second partial profit was larger since it reached my first partial profit target. Then I took another small partial because I was losing faith in the trade. Exit was tricky because the price found support just above my B/E. So I want to make sure I don’t miss the bounce from support but I don’t want the price to fly through my B/E (like yesterday) and turn a small win into a losing trade. Looks like I exited OK for a small win. Score card (live trades): AAPL BABA 91% 91% What I did good today: Good score cards What I am grateful from today? Managed two trades at once at the open. What do I need to improve on: Getting better at the partialing, but need to get use to keep partialing as you lose faith in the trade. I seem to always want to take partial profit only on a new high.
  9. Rob C

    CS - Day Trading Journal

    There is a lot of good about your SNAP trades. The first one is a continuation of three red 5min candles and a test of VWAP break. And you took the trade on a reverse hammer with vol increasing. Your second trade is a long after the price tested VWAP at least 5 times and finding support. And absolutely great stops. With stops like that you can trade for years while you increase your skill level, with little impact to your account. The issue is mainly risk to reward. I only trade after 10am on SIM so I don't have too much experience, but the trades become much less tolerable to low R/R than the live trades I take near the open. For the short there was a strong level forming at 16.30 that really reduces your R/R. And for your long you already have the 16.42 level marked which also gives the trade a low R/R. In general your trades look like you are on track, just need some fine tuning. I would say it took me about 5 months of trading live before I reached your level.
  10. Tuesday 9/17/2019 I had a well-being score of 7/10 this morning. I took 2 live trades this morning, with AAPL and BABA. So AAPL and BABA were on my market open watchlist with MU, AMD, SQ and KHC on my 5min ORB watchlist. Yes I am saying the same thing all week about the open: The setup is the same. The daily charts on both AAPL and BABA still looks interesting, maybe on the verge of a break out. I watched AAPL and BABA at the open. No bias on AAPL or BABA. Both were toying with red to green. So they either punch through for a long or find resistance for a short. Volume actually arrived at the open for both. Both went red to green and then rejected it. So both looked like a short. AAPL set up first with a nice reverse hammer. I shorted as it turned red. My target was the 219.32 daily level with my stop at HOTD~220. I did get 3 small partials though 2 were bad fills. Then the price spiked higher. I was worried about a red to green move and I got out quickly. The price flew by B/E with most of my shares. So this was a small loss. Then AAPL did setup again for another short but I no longer trusted it. Too bad because it did reach and go past my target. My second trade was with BABA. The price rejected the PDC strongly and made a nice 2min reverse hammer. I tried to go short when it broke down through the 200MA-5min. But, didn’t get a good fill but that is common on BABA. So I made a mistake from the beginning. Since I was watching BABA for about 20 seconds I lost track of the time and entered the trade at 9:31:59. I don’t like taking trades close to the end of a candle. If I saw that I would wait until the candle finishes and if the next candle breaks through the body, which it didn’t. So I was immediately stuck in a trade that wasn’t as good as I hoped. My target was the 175.30 level with my stop at PDC. After my bad fill my R/R~1.5. But I really like the 200MA-1min and 176.02 daily level are in the way making it a strong level to pull the price down for a partial profit taking. After 2 minutes I took off a little to reduce my risk. After 6 minutes the price did reach my first partial target, but I don’t like to sell/cover on BABA without checking the spread. But by the time I checked at the spread the price jumped back up. I think in this situation I probably should have just taken the partial. I held for awhile, then there was one last attempt to break VWAP and go lower. It failed and volume was gone so I exited early. Which is good, because I realized after the trade I took too large of a share size. So with the early exit I kept the loss to about -1R. What BABA looked like when I took the trade: The entire trade: Score card (live trades): AAPL BABA 91% 80% What I did good today: Exited early from a trade. What I am grateful from today? Stayed in a trade for 17 minutes. That’s really long for me. What do I need to improve on: Watch the clock and share size. These are tasks I usually don’t have to worry about, so always need to keep those near perfect.
  11. Rob C

    CS - Day Trading Journal

    I think its this one. But I haven't watch it yet. Though I definitely plan to. https://bearbulltraders.com/lessons/week-12-thor-price-level-breakout-strategy/
  12. Rob C

    Jens' Trading Journal

    I have actually forgotten how many 5 day losing streaks I have had since I have gone live. And I have had at least two 10 day losing streaks. What I realize now, it was only small nuisances in trade management causing my losing streak. ROKU always has chopped me up. I see other traders making good trades, but I was just getting chopped. I am still trading ROKU SIM only. Only once I get profitable with a stock I take it live. I am finally getting better with ROKU. But I really needed to watch the spread. Sometimes it explodes without warning and I get a bad entry. Then I usually get wicked out right before it pops/drops in my direction. So I do give it a much larger stop now. Once I was patient enough to wait for the wick out, then I entered the trade. It seems to move after it wicks out the weak handed like myself. Still trading it in SIM but getting better at it. Last year a BBT member wrote up a good analysis on stocks that the "C" in the ABCD pattern can get too tight and it is actually a reverse signal not an ABCD. Though I am terrible at reverses so I have not used that info as an entry signal, it has kept me away from taking some ABCDs that reversed just after I would have entered. Your AIMT trade reminds me of one of those examples. The 5 minute chart was staying in a tight range and the last three 1min candles got REALLY tight. So there is a chance it found very strong support and may reverse back to VWAP enough to stop us out. I will try and look for that post, it was really useful.
  13. Monday 9/16/2019 I had a well-being score of 5/10 this morning. Two nights of poor sleep and caffeine withdrawal headache. I took 1 live trade this morning, with AAPL. And 3 SIM trades. So AAPL and BABA were on my market open watchlist with MU, AMD, ROKU and SLB on my 5min ORB watchlist. Yes I am saying the same thing all week about the open: The setup is the same. The daily charts on both AAPL and BABA still looks interesting, maybe on the verge of a break out. I watched AAPL and BABA at the open. I had lots of bias on AAPL. I like when AAPL drops >1% in PM then recovers at least ½ of it before the open. It tends to pop up the remaining part of the gap at the open. I also liked the last 5min candle before the open was a nice hammer. So any excuse to long I would take. AAPL quickly created a small hammer and I went long the moment the hammer turned white. PDC was my target and the 200MA-1min was my stop. R/R~2.5 which is perfect. R/R>3 don’t seem to work at the open. I took my first partial at the HOPM/Daily level, but then the price started to stall so I took two more partials before the price dropped. I have been burned lately hold to B/E as the price seems to accelerate through my stop and I turn winners into losers. Since I still had a lot of shares left (43%) I exited when it broke through the daily level. I forgot about my plan to partial half my shares and hold to B/E. In the middle of a trade I always forget I am trying to optimize my exit. The price bounced before my B/E and made it to my target without me. The second trade on the chart above was on SIM. My wellbeing score was low, so I was happy to call it a one trade day. The candle bodies made a nice wedge and I went long on the break to the PDC. I also took 2 SIM trades on BABA and yes I forgot about the spread on the first trade and was chopped up. Then I remembered and took a winning trade. Score card (live trades): AAPL 95% What I did good today: Really good score card. What I am grateful from today? My AAPL long bias was correct. What do I need to improve on: Need to remember my trading plan. Exit only half shares if still not near B/E. And watch the spread on BABA and ROKU.
  14. Rob C

    CS - Day Trading Journal

    It's funny I have heard wedges discussed in both directions. As for the example you shown above I have read that type of wedge as buying pressure tightening the wedge as buyers are winning. Or as sellers are holding the resistance and sooner or later they may win. Honestly I am not experience enough to know. So I take wedges like pendants and wait for a break. If the break is in a direction I had a bias from other technicals, great and I would trade it in that direction. Aiman and Thor has created a video on that topic. I haven't had a chance to watch it yet. I am sure its more informative than anything I can bring to the table.

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