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Christopher

Chris's daily trade talk!

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Hey Chris, are you tracking your trades with software? I wish I had started doing that from day 1 . It's the only way to find out which strategies are working and which aren't. I was surprised what the data told me about my strengths and weaknesses once I started tracking stuff. TraderVue and ChartLog are the two most popular ones with BBT members.

One of the biggest things that jumped off the page at me was the majority of my losses were in the category of "No Strategy" I was just taking trades on feeling and not looking for criteria for an actual setup.

Keep up the good work, have a good weekend.


If you don’t have a mountain to climb, find one.

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13 hours ago, Christopher Patterson said:

 

 

I see your tecnique is good, most of the entries breakout soon or later.

Maybe you started with a regret trade on GPS that messes up your psychology.

 

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9 hours ago, Kendrick C. said:

 

I see your tecnique is good, most of the entries breakout soon or later.

Maybe you started with a regret trade on GPS that messes up your psychology.

 

@Kendrick C. hey man! I appreciate the reply! The thing about GPS is the level i traded off wasn't validated in the premarket so I didn't have much confidence in it, plus it already made a huge move just before the open, that trade for me was basically a gamble which made me get out at the first sign of indecision. There was a decent bear flag entry on a 5 min orb .. 

image.thumb.png.f0668dfad33a9fc26fac732e69c809c9.png

 

Here was my entry...

image.png.4c8f6f70fd1a079bb31d745d161fb0f0.png

actually looking at my entry now it wasn't as bad as i thought, lots of volume, clear respect, did break out of PMH, confirmation from the tape...idk i just don't have much experience with stocks that run like this 

and here was the move it made premarket ..

image.png.89d8db81effe10b616575ceb95553bb4.png

and... here is an awesome entry in the premarket you could have taken just off supp/resistance i think it's justified on a catalyst stock and so much respect for the level

image.png.f951c88fa89518e6417fa56debefeebd.png

I've been racking my brain on this trade on whether it was good or bad, still not sure lol! I had a really long week and was mentally pretty beat up thurs / friday and ya after the GPS trade I felt myself lose some focus, I think you're right, here is my review for the week ... Thanks again! 

 

Edited by Christopher Patterson
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18 hours ago, hailchaser2 said:

are you tracking your trades with software? I wish I had started doing that from day 1 . It's the only way to find out which strategies are working and which aren't. I was surprised what the data told me about my strengths and weaknesses once I started tracking stuff. TraderVue

@hailchaser2, do you track the strategies utilizing the tags ? <Tradervue> ?

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17 minutes ago, tntp45 said:

@hailchaser2, do you track the strategies utilizing the tags ? <Tradervue> ?

Yes, I have all the strategies as tags, so I can do a tag breakdown and see what my stats and performance are on each one. It helps my discipline as well, because it jumps off the page that my "No Strategy" trades kill my total "R"'s and profits. 

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If you don’t have a mountain to climb, find one.

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55 minutes ago, hailchaser2 said:

Yes, I have all the strategies as tags, so I can do a tag breakdown and see what my stats and performance are on each one. It helps my discipline as well, because it jumps off the page that my "No Strategy" trades kill my total "R"'s and profits. 

ok cool, i need to utilize that feature !

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1 Trade today then watched the market for a while

@Kendrick C.

Yo! So Aimen has 3 types of ABCD's he talks about, type 1 is a gap then sideways consolidation, 2 is a "W" or "M" shaped and 3 is a slower pullback to some level then a gap up

This is a good vid, hope all is well! gl

 

 

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Nice recap, I shorted MU at the open same candle you went long, I got stopped out too, even though we were on opposite sides, lol.


If you don’t have a mountain to climb, find one.

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