Neil
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Posts posted by Neil
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7/8/2020: Achieved daily target.Goal: Calm, patient mindset. Wait for the "killshot".Goal: 2 minute/3 minute orb.Goal: Pre-research had great potential movement from SQ and WKHS.Goal: Multiple confirmations from 1, 2, and 5.Goal: Wait for confirmation before moving.Goal: As few trades as possible, one and done or 3 trades max.Results:SQ 2nd 1min candle broke away from the VWAP on the 1 minute, and I took it. Stop loss at VWAP.Partialed twice and set breakeven stop, waited for a run, but took the profit on the potential downturn.1 minute breakouts feel pretty challenging to read, but in this case this was the move I was waiting on before the market went so I took it. If you see a clear pattern you'd like to enter, I think it's OK to go in at the 2 minute. We'll see as I test this further in future trades. -
7/7/2020: Positive, but only 30% of target based on other trades.Goal: Patient mindset: I don't need to make a move unless the setup is excellent.Goal: One and done. Trade in first 30 minutes.Goal: Wait for CONFIRMATION on entry. Don't need to be EARLY to enter. Review the PLAYBOOK CONFIRMATIONS and MULTIPLE SIGNALS.GOAL: Multiple signals: Breaking away from VWAP, Opposite moving averages, no prior big wicks. 1,2 and 5 minute trends.Goal: ORB and ABCD trading strategy. After first 3 minutes, until 10:30am. Look for confirmation and multiple signals.SQ - I should have only partialed at 122, and instead sold 100% to keep that last bit of profit. I went for a false VWAP breakout to make up for it.
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7/2/2020: 3X daily target, one and done.Goal: Patient mindset: I don't need to make a move unless the setup is excellent.Goal: One and done. Trade in first 30 minutes.Goal: Wait for CONFIRMATION on entry. Don't need to be EARLY to enter. Review the PLAYBOOK CONFIRMATIONS and MULTIPLE SIGNALS.GOAL: Multiple signals: Breaking away from VWAP, Opposite moving averages, no prior big wicks. 1,2 and 5 minute trends.Goal: ORB and ABCD trading strategy. After first 3 minutes, until 10:30am. Look for confirmation and multiple signals.Results:What I did for today's successful trade:- Reviewed previous trades from July 1, 2020.
- Looked at 1, 2 and 5 minute chart for patterns, to AVOID false positives.
- Looked at pre-market movement, and understood there could be a continuation of trend after sell off.
- Bought after confirmation right up to MA.
- Should have bought AFTER it moved past the MA for confirmation, it could have been a resistance, and it did hesitate.
- Sold half at target, then another half on next spike, then set stop at level below high VBP in case that was a resistance before another move.
- Today was a VERY green day, which made it much easier. The MA mistake could have cost me on a different day.
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7/1/2020: Did not hit targetGoal: Calm mindset.Goal: Wait for CONFIRMATION on entry. Don't need to be EARLY to enter. Review the PLAYBOOK CONFIRMATIONS and MULTIPLE SIGNALS.Goal: Set a clear target.Goal: ORB and ABCD trading strategy. After first 3 minutes, until 10:30am. Look for confirmation and multiple signals.Watchlist:BYND (possible fallen angel, surge, drop, consolidate, go.)AALFDXUALINOTodo:Traded calmly, waited for setups.Tighter stops, respected them and moved on.Multiple signals: Looked at 1, 2, and 5 minute, VWAP, and MAs before considering earlier trades. Fell off later as I chased.Do more: Look for CONFIRMATION for a safer trade.Learn more about ABCD and VWAP reversal signals.Started chasing after a few trades. Was experimenting a little, but ultimately the goal is to curb this completely and wait for good setups.BYND: Looked for VWAP cross with high volume, high R:R, user error for quick sell, but entered after a bit of movement confirmation over VWAP. More confirmation to wait until it broke above the 2 min OR would have been ideal.INO: WEAK entry on attempt 5 min ORB, didn't double check the 1 or 2 minute, which would have clearly showed potential for a downtrend. Always confirm multiple signals. Big lesson and while I lost on this trade, finally got it.Later I made a few VWAP trend trades that were profitable when we broke the LOD, but high risk, not a great R:R. Was chasing.FDX: Catalyst on earnings. 2 min ORB. Considered candles, levels, set a target for high of day, close to VWAP. A little risky when looking at the 1 minute. Entering at 160.5 would have given better confirmation.UAL: VWAP Reversal, went through VWAP with high volume. Good 2R attempt with tight stop loss.10 hours ago, tntp45 said:I like your rule set !
Thank you. I'm trying to build a foundational mindset and playbook, and then carving it into my habits. My instinct is this is going to take a lot of time. Are you setting up a playbook too?
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6/29/2020: Did not hit target.Goal: Calm mindset.Goal: ORB and ABCD trading strategy. After first 3 minutes, until 10:30am. Look for confirmation and multiple signals.Goal: Move based on the chart, not the P&L.Goal: Wait for CONFIRMATION on entry. Don't need to be EARLY to enter. Review the PLAYBOOK CONFIRMATIONS.WKHSShould have waited for more confirmation here. I sensed a downward trend, it was close to the VWAP, good R:R, but if I had waited for more confirmation about whether it was a false breakdown or not, I could have avoided it. I was greedy to catch the move near the VWAP.Respected the stop loss and exited, closed out the day as I hit daily loss limit.Back to the playbook to study.- 1
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Appreciate this overview, thanks Jarad.
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I've been keeping a journal on SIM for the last few months. Now it's time to share it and eventually ask for feedback on some of the moves.
6/29/2020: Hit daily target.GOAL: Calm, organized, mindset. no fomo moves, look for clear signalsGOAL: A clear ORB move with multiple confirmations.Watchlist:BYND - Near an important levelFB - Catalyst and negative trendBYND: Entered twice at 10% of BP. Need to change that to 20% of BP as I usually take a double position. Target was my level at pre-market review level of 129. InRecap:Did a calm pre-market for BYND and FB to see levels.AVOIDED FALSE POSITIVES. When other signals are indicating choppiness, lack of follow through.Missed some moves and didn't feel FOMO. Stuck to looking for a clear ORB based on several factors including pre-market.Picked a stock I knew with, BYND, FB. Understood their moves.Only 3 trades.ORB is hard to set a target in high speed.Should have sold 50% and set the breakeven.- 2
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