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Everything posted by choonsiang.ong
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18 Oct 2019 I took 1 trade today and I decided to take a break after numerous losses for the past few days. 1) $ETFC - I saw a few confirmations in various chart and decide to SHORT 5 min - Sitting below 50 MA (serving as a resistance) and a hammer. [This graph takes precedent] Daily - Sitting below 50 MA (serving as a resistance) [This graph takes precedent] 1 min - Trending downwards and candle movement all below VWAP and 50 MA. 2 min - Trending downwards and candle movement all below VWAP and 50 MA. In the end, I got stopped out (referring to 5 min chart) when it move upwards. Take a break and have a Kit Kat. I think I need to go back and study more..
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Dear @Glenn Budde, Thanks for dropping a comment! Yes you are right on $NTRA 5 min where it is still moving up. I have been watching WilliamH videos and let's learn together! Too bad I can't attend William H's live trade review due to my timezone (at 3am). Appreciate your help!
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15 Oct 2019 Today was a disastrous day for me. I took 3 trades today and I hit my max loss. 1) $NTRA - I saw a few confirmations in various chart 1 min - Sitting on 50 MA 2 min - Candle sitting on VWAP and saw a hammer (previous 2 candles) sitting on the VWAP. I am thinking of a reversal. Yeah. 5 min - Candle sitting on VWAP Took 2 LONG trades at around the same points but in the end got stopped out (refer to 1 min chart). I think I have traded correctly. Self consolation. Lol. 2) $PAGS - I saw a few confirmations in various chart 1 min - Located below VWAP. 2 min - Located below VWAP. 5 min - Located below VWAP. I went SHORT and took a small profit to cover my huge loss today. Today is a RED Day and I am glad I am on SIM. Live to trade another day
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I have the same problem. The thing that has helped me out is developing exiting rules, just like I have entering rules. Dear @Mike B and @Rob C, I usually set my exits below / above the MAs when I long / short the trade. And for this trade, I place my stop loss below the orange (200 MA). Hope it helps.
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14 Oct 2019 I only took 1 trade today on $X and I should stop as I am done with my daily goal. On 1 min chart, I saw an hammer (may turn uptrend) sitting on the 200MA. My profit target is on the 200MA on the 2 min chart and I am glad that it went over it and I manage to exit after that. Today is a Green Day and I am happy. Live to trade another day.
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Dear @Rob C, Thanks for sharing your experience and definitely a great enlightenment for me.
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14 Oct 2019 Took only 2 trades on our best friend, also know as $MU. First trade - I saw the candle bouncing on VWAP and thought it may take off and I went LONG. I was on the wrong direction where I got stopped out. On my second trade, I saw it moving downwards and bouncing as a resistance in 2 min chart. I immediately took the trade SHORT and manage to exit at one of the lowest point. Today is breakeven for me. My learning lessons should be not to LONG the share if there is a MA above the trade (in 2 min chart). Any bros who would like to contribute 2 cents worth are most welcoming! Thanks!
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Thanks @WilliamH for your great encouragement!
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11 Oct 2019 Today I took 3 trades (2 green and 1 red) . Overall still green. 1) $MU - Took SHORT when it is bouncing off VWAP and the share took a sharp upward turn and I got stopped out. I realized that I am shorting towards 50MA. Bad move and didn't check my chart clear enough. 2) $FAST - Many traders in the chartroom heard Andrew saying to take a LONG and I took it but he didn't. It is a very good move upwards and my biggest win for the day! 3) $ROKU - At 2 min chart, I saw the candle bouncing off the 200MA and it serves as a strong resistance. I took it SHORT and covered all of my positions before it went back up. It was a very small move but I was lucky to cover everything. 2 green days in a row and I am happy. Hope to continue to maintain consistency when in LIVE account.
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Thanks buddy for always been there to encourage!
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10 Oct 2019 Today is the MOVING AVERAGE day for me. Took 2 trades and both are green. $BBBY - Saw 2 red indecisive candles at 1 min chart. Once I saw it moving above VWAP, I took a LONG position. I move my stop to break even and I got stopped out. If not it will be a very good upward move. $DAL - Saw a inverted hammer at 2 min chart and 1 min chart moving downwards from VWAP. I immediately entered the trade to the SHORT side and managed to cover all positions before it bounce back to VWAP again. Very happy with my performance today. I should stop trading now to prevent over-trading. All the best guys!
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7 Oct 2019 Traded on 2 ORBs and one trade on AMD. ORBs for both RNG and SPWR. But for AMD, I think I have guessed it wrongly. I thought it is going to pop up due to the constant pullback towards the VWAP. In the end it move strongly towards VWAP and I got really scared and I exited the trade. After I observed the trade, I still got stopped out. Hope to get better each day.
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27 Sep 2019 I saw 2 trades at around 10:30pm. Managed to get in one and didn't for another. 1) CTRP - I LONG the trade with my several thoughts in mind At the 5 min chart, I thought I saw a bull flag and seems like the stock is pulling back Saw some big buys coming in green and seems like the stock is going to take off. Eventually it didn't and I got stopped out from this trade. 2) ROKU - I saw it retracing back to the VWAP (serve as a support) and set a limit order at 100.2 for a better entry and risk reward. In the end, the stock took off without me. If not I will be able to get at least 80 cents profit for this trade. Today I am in Red. Hope I will do better next week.
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24 Sep 2019 I came online rather late today (10:30pm) as I am running some errands. Saw NFLX and all charts (except 15 min) stay below WWAP. Wanted to go SHORT at the arrow indicated in 1 and 2 min chart but in the end only got filled below 50MA. A bad entry (yucks) and managed to take some profit for this trade. One green trade and taking rest now.
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Yes I am trying to trade SIM as similar as trading live What I am referring is the difficulty in entering into a trade. When I trade ROKU on SIM last night, I find it so hard to enter into the trade. When I heard Andrew trading live and when he said, "I am shorting ROKU", he is already in the trade. Is there a real difference in terms of the speed and timing of entering/exiting a trade in SIM vs LIVE? Do you feel any difference when trading LIVE vs SIM? Thanks!
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Thanks for your great encouragement, @Rob C. I guess I am the slow trader who tends to catch trades/confirmation slower as compared to others. And as I am trying to trade yesterday, it really took me a while to enter into the trade when I short. As I am not in LIVE environment, does it happen to you the same when you are trading live? Do you actually feel the difference when you are trading LIVE vs SIM? It's really frustrating when you can't get in and out of the trade as and when you like it. But you still need to pay the commission for a bad entry/exit.
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23 Sep 2019 I took 2 trades today on the same stock, ROKU. Both are not fantastic. 1) FOMO and went short but with a very lousy entry but managed to get some profit. Pure luck and no trading strategy. 2) Saw harmonious chart and candle sitting on all MAs. I took long but I got out as when the next candle start to retrace on 1 min chart. In red today and decide to stop trading for today. Peace.
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20 Sep 2019 I took 2 trades today. CRC - I took this trade when I saw harmonious charts in different timeframe. Especially in 2 min chart where it crosses above the MA. I entered into the trade without enough time to put in a stop loss. I should be have been stopped out but in the end the stock moved back up and I took a small profit. Mistake : Trading into the MA on 2 min chart and didn't put in the stop loss on time. PCG - I took this trade when I saw it sitting on the MA and WWAP. I took a long but got stopped. I took a long again and this time round, the stock did took off and I took profit from the trade. MIstake : I experienced FOMO AGAIN and did not let the winners run. The movement of the candles can be really scary.
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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. @Rob C You mean you can recommend me to IB? I don't mind if this is possible. I do hope that you can earn some referral fees out of this! Thanks for explaining on SSR. I will go and have more read on that. Oh great....Fresh mind trades the best. Unlike me, the market opens at 9:30pm on my side. I finished work and already half dead. Lol.
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19 Sep 2019 Today I started really late (11:30pm SG Time) and thinking to practise my trade. I took a losing trade on MSFT. I saw 2 and 5 min chart where it is sitting on WWAP, where it act as a support. The trade went against me and I got stopped out. I guess I am too tired physically to focus. The trading volume is actually decreasing and I shouldn't went long for this trade.
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Thanks buddy for your prompt reply. As I am still on DAS (SIM), I will then check it out with Centrepoint when I am ready to go live as how does the hard to short app works better. Pertaining to SSR, what does it mean and represent? Currently which broker you are using? I am located in Singapore and hence I got no choice but to sign with Centrepoint (non US resident). Bro, do you actually sleep? Which timezone do you belong to? Really appreciate your kind response and it will definitely accelerate my learning growth! Cheers!
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Thanks @Rob C buddy for your comments! Would you mind share me your skill on how to get your shorts fill?
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18 Sep 2019 I told myself not to overtrade and only take trades which are considered good RR. I took 2 trades on CHWY - On 5 min chart, I SHORT and thinking it is a WWAP reversal. However it went into consolidation mode and didn't break down to the low of day. So I decided to exit with a small profit. - On 5 min chart again, I LONG this time where I saw it sitting on WWAP. Some goes the 1 and 2 min chart. I could have let it run but really FOMO and I exit the trade and took profit. OSTK - When I saw that all charts are harmonious and staying below WWAP, I wish to SHORT below WWAP on the 2,5,15 min chart (arrow pointed). However it is a missed trade where I keep on pressing the short key but didn't get filled ROKU - When I saw that all charts are harmonious and staying below WWAP, I wish to SHORT below WWAP on the 2, 15 min chart (arrow pointed). However It is a missed trade where I keep on pressing the short key but didn't get filled Overall it is a green day for me and I am happy. However also a bit sad when I didn't manage to get the last 2 trades. Do members here experienced the same issue as me where you tried to for short but didn't get filled?
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Thanks @Rob C buddy for your analysis and confirmation. Just hopping that I will continue to learn and get better each day. One thing that I didn't take notice is the volume increasing. Thanks for pointing that out. Appreciate your kind inputs and keep these coming! Cheers!
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17 Sep 2019 Overtrading Day 1) GLW - Took 2 trades on this. I short the trade and thinking to let the winners run. After it touched 27.43 , it went back up and I got stop out. I should have partial out / move my stop loss to breakeven. I took a LONG trade when I saw it taking off from WWAP at 5 min chart. Not the best entry and R:R. Sold off at 28.2. 2) SNAP - I took 2 trades. I SHORT in my 1st trade when I saw the candle crossing WWAP in both 1 and 5 min charts. In the end, I got stopped out. 2nd time, I went LONG, thinking that WWAP serves as a support in 5 min chart. In the end, I got stopped out again when it starts moving downwards. For SNAP, I think I am not good in waiting for confirmations / too much FOMO within me hence I done really bad in this trade. Hope someone can enlighten me on this. Thanks .