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Magna

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Posts posted by Magna

  1. Posted

    On 9/10/2019 at 6:34 PM, Mark D. said:

     

    996283654_149-CTRPNOSETUPA.thumb.png.fb4f813b88d69d40f3bb51535c877239.png

    4434529_149-CTRPNOSETUPC.thumb.png.48e446a1d16670a2496f8af63c973632.png

     

    i was pretty frustrated with myself, looking at pretty much 2R loss 10 minutes in to the trading day, wishing i was in SIM and not live. looked down at my trade log and noticed i was in sim! forgot i switched my montage over to sim yesterday. it became clear that this was turning in to a descending wedge in CTRP (3/4) so i got in on the short side risking a new 2min high. bought 75% at about 2R, which was a mistake, i meant to buy 25%. then another piece at 3R, one bad buy seconds before another down move. got all out at the moving averages on the daily. 

    GOOD: setup, R/R, risk level

    RFI: selling

    MOOD: good

    CONSISTENT: yes. 

     

     

    Hi Mark, 

    Not trying to sound like a jerk or anything, but I a disagree with your short on CTRP. Even though the trade works out in your favor, we shouldn't analyze the trade based on a single outcome. CTRP opened very strong, it broke pre-market high (a level at $34.5 if I'm not mistaken), VWAP, PCL and other MAs. On the 5, we can clearly see a bullish flag candle. There had not been any real pull back yet from your entry. CTRP was not very extended from VWAP. In addition, CTRP is on an uptrend on the daily making higher highs and higher lows. It seemed to be ready to go up to test the resistance at $35.68.  Usually for stocks that open this strong, we would see a pull back to VWAP then push higher for an ABCD pattern. The said don't short strong stocks as it is very dangerous... Personally, I think that we should wait for CTRP to test VWAP and if it hold VWAP then we should go long for the break of high of the day.

    • Like 1

  2. Posted

    8 hours ago, Mike B said:

    I trade $AMD a lot. If it does not have around 800,000 shares in the pre-market by the open it is not worth watching. If it has around 450,000 a hour before the open I consider it if I have nothing else. 

    Yeah AMD used to be my best friend... Nowadays, it's my worst enemy

  3. Posted

    8 hours ago, Mike B said:

    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.

    About 4%. I will lower the risk today. Thank you for your words Mike. Let's hope for a good day!

    • Like 2

  4. Posted

    I considered taking the same trade on DOCU at around $56.36 when Andrew called it out in the chat, but something about it made me not wanting to take the trade. Now that I think about it, there were so many MAs in the way on the 1 minutes chart. Especially when there were a 200 SMA in the 1 and 50 SMA in the 5 which can be very strong resistance. Andrew probably realized that this was a quick scalp because I saw him scaling out most of his positions quickly at that $56.80 area. If I remember correctly, the thought of holding towards high of the day wasn't even there for him. Perhaps he had a feeling that the stock is weak? I don't know, just wanted to share my observation on how Andrew took the trade lol. 

  7. Posted

    1 hour ago, David Furlano said:

    Awesome, thanks for the reply. I think i will be switching over to CMEG. How have the commissions and executions been on the LAMP route ? Have you run into any issues in general with the platform or support from CMEG ? 

     

            Thanks !

    No major problems so far. Executions are fast. As for the platform, it is good. Very fast when loading charts and so on. However, there was an issue with the screen recorder tool. Well, occasionally, it would crash... No idea why, but you can reload it so it's not a big deal. Commissions is decent for an offshore broker. CMEG commissions are based on # of shares, so you can scale out as many times as you want. This is much better than the flat rate commission structure for scalp traders like me. 

  8. Posted

    2 hours ago, David Furlano said:

    Hey. Great posts ! I had a quick question. Overall are you happy with CMEG ? Do you use the LAMP route ? I’m considering changing brokers. 

     

       Thank you ! 

    Yes, I'm happy with CMEG. I live in the U.S. and don't have 25k so CMEG is probably the best option for me especially with a 6:1 margin. 

  12. Posted

    On 6/27/2019 at 1:55 PM, Rob C said:

    Yes. It took me two months, with numerous phone calls and emails, to get my CMEG account activated. I find phone calls a little bit more effective but still poor. But after using them for over 3 months (before I switched to Centerpoint) I found the [email protected] email MUCH more responsive than the new account email. You may want to try them. Hopefully they won't kick you back to the stagnate new account department.  

    Can confirm that [email protected] is much more responsive. The new account email usually take 1-2 days to respond to my email. Sometimes, they ignore my email and I have to call in. However, the above email is very responsive. This morning I emailed them to set up risk control for my account and they responded within 40 minutes! We emailed back and forth and the issue was resolved less than 2 hours. 

    • Like 1
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