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Wayne Ferguson

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  1. Hey everyone. Today was my first day where I saw a pattern developing and got really excited for it. Last night I watched the video on Peter's Mountain Pass strategy, and today I saw what looked like a perfect Mountain Pass on TSLA. I'm a beginner who just started in SIM and I'm trying to back off on my chasing trades and trading because "I think it will go up from here." I put together a spreadsheet from scratch while watching the webinar to help me track my performance and stats on these trades. My original goal was to fill this out before taking a trade, but I did not really fill this out at all on TSLA until after I took the trade. Today is the first time I have a trade I was proud of (aside from 1 major mistake which I will explain.) TSLA had a strong trend starting around 446 at 2:08pm and pushing up to a HOD of 461.9 around 3:00. There was a final push with exhaustive volume 3 candles prior to the HOD. There was a slight pullback to 456.15 (~36% pullback) and then a second attempt at a HOD approximately 14 time periods later. The second high only made it to ~460.6 at 3:14. I may have entered ~1 candle too early, but at 3:17:41 I sent a short with $10 risk (5 shares) which executed at 459.15 with a hard stop at 460.93. I probably could have zoomed in a bit before double clicking to set my stop to get it closer to the 2nd peak "high." I took my first partial, ok... so I clicked the wrong button here and "sold 20%" instead of covering (position now -6), I mistakenly did this on my first partial ~2R and second partial ~4R (50% so position now -9). I'm not really used to shorting stocks so I think in my mind I was "selling" part of my position, but I guess this is what SIM is for. I moved my stop to breakeven and was very confused as to why my stop was not at my initial short value - only in hindsight did I realize that I increased my short position thereby adjusting my average entry price. I finally realized what I did as the price was approaching 440 and initially covered 10% at 441.71 (Position now -8). The quick price action bouncing back to VWAP spooked me a bit and I got another share out (10% at 442.50), and then the rest out 5 seconds later at 443.50. I was happy to see a P&L on the trade of over $100 for what started as a $10 risk trade. Obviously me accidentally increasing my short position from 5 shares to 9 shares had something to do with this. If I had taken off 20%, then 50%, then all out this still would have been about a 6R trade. I'm excited to be a part of this community and I'm really hoping that I can start being more disciplined in my trading and continue to work on these strategies. 2020.09.15_TSLA.pdf
  2. @hailchaser2 I may have missed it earlier in the thread, but have you posted a link to your onenote trade journal? I stumbled across your thread and really like how you have yours organized and if you are willing to share it I would appreciate being able to use it. Thanks!
  3. Hey everyone. Wayne from TN here, new LTM. I read Andrews book about a month ago and came over to this community. I still have so much to learn and am currently working on disciplining myself enough to only take trades that match my setup. I’m currently focusing on ABCD patterns but have not had much luck seeing them. (All in the sim). I am very excited about the next few months and hope to one day be profitable!
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