Jaxettew

On a 5 min chart, Do you buy close to/just above a specific level (vwap, 9EMA, Support) that way you can place your stop pretty tight, limiting your risk for the trade?

I have been using Thinkorswim now for few months. I am a fairly new trader and have never used DAS or any other platform/broker, so I do not know what the benefits of those platforms have over TOS. TOS seems very clean and charting is great, but does anyone have any input on the level 2 on TOS compared to DAS? It seems when I watch the recaps DAS has a lot more market depth and can see the large big/ask orders, making it a little easier to trade the momentum trades.

Yeah, I typically trade the break of the body. Basically if the 1 min moving averages are going up and 5 min moving averages are going up, I trade the break of the 1st 5 min candle. I feel like sometimes the trade goes in my favor and sometimes it doesnt. I get not all trades are 100%, but maybe Im doing it wrong? Not sure.

I typically trade the 5 min ORBs but have had them reverse on me and get stopped. When is a stock extended to the point where it wont continue the ORB and instead reverse?

Kind of a hard question, but what percentage would you say these patterns actually work?

I primarily trade ORBs in the morning at that is it. How do you decide if you are going to trade the 1 Min ORB or the 5 Min ORB? Also, when is the 5 min to extended to trade the 5 Min ORB?

Sounds like such a noob (Which I am), but what does 1R, 2R etc?

When I am in a trade, I find myself constantly watching my P/L instead of seeing what the trade is doing, which is terrible. I am thinking about getting rid of my P/L so it doesn't pop up while I am in a trade. How do you guys scale out of a trade? Do you start taking profits at a certain percentage? Certain Prices? Certain levels? Thanks!