tntp45 52 Posted July 1, 2020 Always like the video recaps ! Awesome trades on AMD and CCL ! Well done ! 1 Share this post Link to post Share on other sites
Christopher 129 Posted July 1, 2020 (edited) @tntp45 Thanks! Fun day today .. interesting price action, really nice play on $PLUG though didn't manage it that great, i give myself a B- xd 2 different ascending triangle plays on $PLUG today, notice how in one price action runs, and in the other it comes back to test the level it broke entry Edited July 1, 2020 by Christopher Patterson 1 Share this post Link to post Share on other sites
Valentin 84 Posted July 1, 2020 Love the $PLUG trade - picture perfect. Looks like 3+ touches to the penny, right at VWAP with volume validation. Beauty. 1 Share this post Link to post Share on other sites
Christopher 129 Posted July 1, 2020 1 hour ago, Valentin said: Love the $PLUG trade - picture perfect. Looks like 3+ touches to the penny, right at VWAP with volume validation. Beauty. Thanks! This was a trade where I should have just entered and then left my house for like an hour haha, with no moving averages above, such a great entry, and a bullish daily, there was a really good chance it'd run, I didn't internalize that until after the trade. Enter trade -> partial 20% and 2:1 - > move stop to break even -> take my dog for a hike that was the play : P Share this post Link to post Share on other sites
Christopher 129 Posted July 2, 2020 (edited) I think the volume tells an interesting story here 1. Lack of bull sentiment, we broke out of a resistance and the increase in volume wasn't all that significant 2. Bears jump in to push the price back bellow the resistance to re-test bull sentiment 3. Bears pushed price down which would give the bulls a better buying opportunity, however, the lack of volume is an obvious tell that the bulls aren't interested. 4. Having confidence there is little to no upward force on price, bears re-enter to push price lower again Also, a bear flag entry i noticed with similar volume confirmation, an obvious tell that the bulls aren't around R.I.P Reckful Edited July 3, 2020 by Christopher Patterson 1 Share this post Link to post Share on other sites
Kendrick C. 7 Posted July 3, 2020 On 7/1/2020 at 10:41 PM, Christopher Patterson said: @tntp45 Thanks! Fun day today .. interesting price action, really nice play on $PLUG though didn't manage it that great, i give myself a B- xd 2 different ascending triangle plays on $PLUG today, notice how in one price action runs, and in the other it comes back to test the level it broke entry Hi Chris, May I ask you a question? I can understand risk management, I can understand setups. But most of the time I cannot find the right stock and the right moment to trade in real time. I think the golden period for entry is less than 1 minute, and we have to attend to it at least 5 minutes before and stare closely at it. Very often, I pay too much attention on a stock that finally fail. Then I start to browse other stocks for trade and sadly find that I have missed many opportunities. Even worse, I browse around 10 stocks and still cannot find a setup I recognise, then I don’t know what to do during the day. So the question is how can you search for the proper stock like $PLUG, and execute at the right moment? And how do you spend your time to prepare for a trade during the session? Share this post Link to post Share on other sites
Christopher 129 Posted July 3, 2020 (edited) @Kendrick C. What Up Ken! First, I want to say that I'm still learning too and there's a lot to say on this topic, so the following is my opinion... To start, I spent around 30 minutes just watching the market before I took that triangle play on $PLUG, and in that time a lot of plays went without me, you just have to accept this, even plays that I am 95% sure are about to happen I'm okay going without me if I can't limit my risk, there are a lot of times that I need a stock to pull back to a resistance/support, retest, then I can enter with a tight stop, if it just goes, it goes, it's not worth chasing, even if you did enter and it did work, you're just reinforcing a bad habit that'll bleed you out as time goes on. You don't need to hit every trade you see, if you can trade the first 1 hour the market is open and take 1-3 A+ setups, and you get very good at managing your trades, you can make excellent R's per week, I'm talking 15+ R's per week which is actually amazing if you extrapolate it out for even just a year. So, with that out of the way, I believe that a first principle of price action is that VOLUME moves PRICE, i.e if nobody is interested in buying and selling shares, the price is not going to move, notice $SPY during the covid breakout Larger volume => large price moves When a stock has a catalyst day traders get excited because the volume for that particular day should be significantly higher than previous days (this is called RVOL) and.. increase in volume => more significant price movement. 7 hours ago, Kendrick C. said: So the question is how can you search for the proper stock like $PLUG, and execute at the right moment? And how do you spend your time to prepare for a trade during the session? So, all that being said, i look for stocks that have a significant catalyst (downgrade/upgrade, some novel news, maybe earnings, anything i feel is significant) OR are trading with high volume in the pre-market (more on that later) Typically stocks that have a strong catalyst are trading much more than usual in the pre-market, but it's not always the case. I pull my stocks from 3 different sources, the first is a list I keep on hand of around 20 stocks that typically have moves intra day, have a pretty good spread, and decent float. Here is that list... Second, I look at the BBT pre-market show on youtube and go through EVERY single stock myself, I look each stock up on finviz.com, I look for a catalyst, I look at float, I generally look at ATR (I just want to see it .50+ really), I look at the level 2, and I look for daily levels / pre-market levels myself ( this is so important imo, in the beginning you can rely on carlos / norm, but you should really be finding your own levels and making your own game plan) Third, and one that I'm really surprised more people don't do...I have a volume scanner that I run right when I open up DAS, here's what the settings are ... Typically I get about 5-15 stocks to pop up and I sift through those, the ones that have good, tradeable levels, or just insane volume, or just anything that I think is interesting I'll look up on finviz and add them to my list of potential stocks for the day. After adding the BBT stocks I like and the ones from the volume scanner I have a list of maybe 10-15 stocks, and I go through all those more carefully to see which ones i'm interested playing intra day, and which ones I think are good for an opening play. For an opening play I'm looking for a level in the premarket that's trading near where price is that has acted as both a significant support / resistance, and I want to trade off this level in the first 5 minutes, for example $GE yesterday gave such a sick 2 min orb off a really obvious level .. So I get hopefully 3 stocks to watch at the open, looking specifically for a 1 / 2 / 5 min orb, and after about 5 minutes, I start going through all the stocks I have, which is quite a bit, and looking for anything setting up. I want to add here that not everyone, and probably even most people don't trade like this, they like to just watch 3-5 stocks throughout the day, you gotta find what works for you I wake up at 4:30, get a workout in, get some food in me, take a shower/shave, I'm at my computer right around 6am, and I spend 30 minutes doing all the things I just mentioned, and try to maybe take a few minutes sometime prior to the open to take a few deep breaths, maybe step outside and just get away from the screen in preparation for a solid hyper focused hour of trading. In terms of "executing" you just gotta trade a lot man! No way around that one, I feel like I have a pretty high hit rate for opening plays in the first 5 minutes, and that's because I'm very meticulous about finding levels in the pre market, if I can't find a stock with nice tradeable premarket levels, I probably wont touch it the first 5 minutes. As for the ABCDs / Triangles / range plays / parabolic reversals, just trade! Cut yourself some slack, don't worry about P&L, worry about identifying trades, entering trades, and managing trades! Learning is always priority number 1, always. 2 things to conclude... After writing all this, i would image it seems like a lot, and it definitely is, but you get better at finding what you like and don't like, and you'll see a lot of the same stocks pop up day in and day out and have a sense for whether you're interested in them or not. Lastly, Make sure you have an idea of what spread is and what's a nice looking level 2, for example... There is a ton of liquidity and a 1 cent spread, if the price has a very deliberate move in one direction, the spread still isn't going to change much, so if you get a stop out there wont be much slippage, and if you enter, you should get a good fill. Good luck man! You don't have to figure out everything in one day, just everyday try and give a really good 1-3 hours of solid learning, then go live your life! (the only one you're probably gonna get :P) -Chris Edited July 3, 2020 by Christopher Patterson 3 Share this post Link to post Share on other sites
Christopher 129 Posted July 3, 2020 (edited) Weekly Review/Optimization! Not too proud of R count this month, but I learned a ton and feel like a way better trader going in to July, these videos have been so helpful! Edited July 3, 2020 by Christopher Patterson Share this post Link to post Share on other sites
Kendrick C. 7 Posted July 4, 2020 @Christopher Patterson Thanks for long reply, your comments are always inspiring. To enlarge the search space, I have created a custom formula, ATR%, in trade-ideas and screened around 50 top rated stocks that look familar. Theme Symbol Name Price ATR % Float (M) Aerospace SPR Spirit Aerosystems Holdings, Inc 24.02 11 104 Aerospace BA Boeing 186.4 7.8 564 Aerospace SPCE Virgin Galactic Holdings, Inc. 16.12 7.4 175 Aerospace RTX Raytheon Technologies Corporation 62.46 4.7 863 Airlines and Cruiseline NCLH Norwegian Cruise Line Holdings 17.72 12.1 213 Airlines and Cruiseline AAL American Airlines Group, Inc 13.82 10.9 419 Airlines and Cruiseline CCL Carnival Corp 17.19 10.8 401 Airlines and Cruiseline UAL United Continental, Inc 36.97 9.9 246 Banks WFC Wells Fargo 25.86 5.4 4,087 Banks BAC Bank of America Corp 24.02 5 8,666 Banks JPM JP Morgan Chase & Co. 95.48 4.3 3,024 China GSX GSX Techedu Inc. 55.12 8.1 83 China IQ Iqiyi, Inc ADS 23.36 7.6 315 China PDD Pinduoduo, Inc ADS 84.51 6.3 588 China BILI Bilibili, Inc ADS 46.87 5.2 240 Energy OXY Occidental Petroleum Corp 18.48 8.6 899 Energy OKE ONEOK, Inc 33.62 8.4 412 Enterainment PLAY Dave & Busters Entertainment, Inc 14.01 12.9 30 Enterainment DKNG DraftKings Inc. - Class A 34.81 10.1 240 Enterainment PENN Penn National Gaming, Inc 32.95 9.5 116 Enterainment MGM MGM Resorts Intl 17.34 7.8 469 COVID-19 VXRT Vaxart, Inc 8.01 17.5 46 COVID-19 INO Inovio Pharmaceuticals, Inc 21.7 16.6 142 COVID-19 NVAX Novavax, Inc 77.77 9.6 58 COVID-19 MRNA Moderna, Inc. - Common Stock 59.68 6.9 272 COVID-19 DVAX Dynavax Technologies Corp 8.5 9.1 77 COVID-19 SRNE Sorrento Therapeutics, Inc 6.11 8 177 Others ENPH Enphase Energy, Inc 47.13 9.2 118 Others ACB Aurora Cannabis, Inc 12.7 7.1 109 Others BYND Beyond Meat, Inc. 148.72 7.1 57 Pandemic VIAC ViacomCBS, Inc 23.81 7.3 351 Pandemic ROKU Roku, Inc 119.5 6.2 101 Pandemic PTON Peloton Interactive, Inc. 57.97 5.7 176 Retail M Macy's, Inc 6.89 9.2 309 Retail GPS Gap, Inc 13.04 8.9 205 Social Media TWTR Twitter, Inc 30.86 4.5 767 Social Media SNAP Snap, Inc 23.76 4.3 863 Technology SQ Square, Inc 110.17 4.6 357 Technology AMD Advanced Micro Devices, Inc 52.28 4.4 1,164 Technology MU Micron Tech, Inc 50.62 4.3 1,106 Vehicles WKHS Workhorse Group, Inc 14.68 12.4 70 Vehicles CAR Avis Budget Group, Inc 23.65 11.3 57 Vehicles PLUG Plug Power, Inc 8.58 8 320 Vehicles NIO NIO, Inc 7.86 7.6 754 Vehicles LYFT Lyft, Inc. 33.11 6.1 238 Vehicles UBER Uber Technologies, Inc. 30.76 5.2 1,249 Work From Home FSLY Fastly, Inc. 82.88 8 71 Work From Home CLDR Cloudera, Inc 12.63 7 255 Work From Home NET Cloudflare, Inc. 35.38 6.5 150 Work From Home WORK Slack Technologies, Inc. 30.66 6.1 396 Work From Home CRWD CrowdStrike Holdings, Inc. 101.53 5.5 149 Work From Home ZM Zoom Video Communications, Inc. 251.25 4.2 165 2 Share this post Link to post Share on other sites
Christopher 129 Posted July 4, 2020 @Kendrick C. Yep, those look like all the usual suspects lol! Just a final note, make sure you give much more weight to the 2-3 stocks you have deemed "in play" for the day, good luck man! -Chris 1 Share this post Link to post Share on other sites
Christopher 129 Posted July 6, 2020 (edited) Yo! Max loss day for me, some not so great trading, but not awful, and definitely learned a lot. I made 2 longish videos going in to detail on all my trades, but I didn't realize that obs wasn't picking up my audio. I don't have time to re-make. Hope y'all had a good day! -Chris *Edit..* had some downtime Analyze!!!!!! AHH!!! VPA !!!!!!!!!!!!!! OP!!!!!!!!!!!!! Edited July 7, 2020 by Christopher Patterson 1 Share this post Link to post Share on other sites
Christopher 129 Posted July 7, 2020 (edited) Not much to report today, watched the market super closely for an hour, was thinking about a fallen angel play on $NIO that would have worked nice, but there were too many heavy bids below and I didn't think it worth the risk. I also saw a nice ABCD on DVAX but was late to the party blah blha blhjablajsdflj;aldfj I also saw a nice PR on $NIO, the hammer is too long but it would have worked out well Also took some PR's on SQ, technically after my trading session, I only go till 7:30 my time, I'm gonna cut myself some slack on that one and just chalk it up to throwin some trades out to practice. I had great discipline, I didn't see anything I really liked, so i just didn't take a trade. The premarket price action on almost everything has felt really sloppy the last couple days and that's messin with my early game, as for the ABCDs / pennants really nothing i saw today that was all that clean, except maybe $DVAX. Good luck! Edited July 7, 2020 by Christopher Patterson Share this post Link to post Share on other sites
Christopher 129 Posted July 8, 2020 (edited) Analyze sesh Edited July 8, 2020 by Christopher Patterson Share this post Link to post Share on other sites
Christopher 129 Posted July 9, 2020 (edited) https://youtu.be/d7_P4qOZZJg The rough week continues ! 5.5R PR, that stopping volume on the 2min, so cool! Edited July 9, 2020 by Christopher Patterson 1 Share this post Link to post Share on other sites
