Lenny 2 Posted March 19, 2020 Dear BBT, First week papertrading. Apologies for the basic questions I am asking, but I feel that , learning now when I am just starting could send me way faster in the right direction. Even though they were two winning trades. I feel like I was a bit weak in my reasoning to enter. Stocks were definitely in play, we were above the moving averages, and both stocks at the seemed to be strong, What factors would you consider before entering here? Share this post Link to post Share on other sites
Bailey Nevener 83 Posted December 15, 2020 One thing that I would definitely consider is posting the higher timeframes, specifically the 15 minute and 60 minute chart for each stock. The trends and levels shown on the 60 are invaluable. Both charts show higher highs and higher lows for the immediate 5 minute candles. That is great for considering a possible ABCD entry on the lower timeframes. It looks like you got in for the premarket high break on both UBER and CCL. Both had good volume on the day, so I wouldn’t expect a sideways reaction. That is, it would either reject, or move higher. It moved higher. The question about whether it was luck really comes down to where your stop loss was placed and what your profit target was. If you took extremely heavy partials initially in your trade, then your long term results are going to be significantly more statistic intense because your margins will be thinner in exchange for a higher win rate. However if you let the trade go in your favor 2R or more before getting all out intentionally, then it is likely that this will be sustainable over time. The only way to ensure this is by sticking to your stops and having a reason to exit with full size either for a loss or gain. The community would need the higher timeframes as well as your plan to truly and fairly analyze this trade. Share this post Link to post Share on other sites
