Learning to trade. My path.

[Willy 25]

Hello. I have been trading since March 2017 with up and downs  (sometimes in a real account and sometimes in the simulator). I was member of Vancouver traders (now BearBullTraders). I have started to be more consistent in the last month. I am a part time trader.

This is my contribution for new traders so that they can learn from my mistakes. I recognize that everybody has a different path but you can learn something from everyone.  Andrew has teach that to us in this community and it is very true at least for me.

Keys for my success:

1. When i find Andrews' book. That one change my day trading from low float stocks to medium or high float ones. Besides introduce DAS. I read the book twice and never understood the basic strategies that he explain very well but for some reason took me years to learn them in front of the screen. It is very important to understand those strategies and learn the best entries (For me the best entries are close to a MA, daily or Pre Market level and VWAP. For this levels at the opening works at the close of the 1 minute candle, later in the day is better to wait for the pull back)  https://www.amazon.com/gp/product/B012C4AU10/ref=dbs_a_def_rwt_bibl_vppi_i0

2. The hotkey script for always risk the same amount of money. This script change everything for me because i was calculating live the amount of share that i have  to take to meet my risk but a lot of time i was buying the wrong amount . 

 3. Class 5: Risk Management. https://bearbulltraders.com/lessons/class-5-risk-management/

Mainly the part  where it shows that you can make a lot of money with the 1% or even 0.5% of your equity.

4. When i really understood 1,2 and 5 min ORB and that i have to get an entry close to a level or MA or VWAP for better risk reward.

5. When I learn from Thor Young (Thank you so much) that you can earn a lot of money with only one or two stocks. His introduction to us of the VPA  and VAP helps a lot too. 

6. This video of naked price action helped me a lot  

 

 7. to be continued...

 

Edited June 16, 2020 by Willy

[Willy 25]

Today Trades 

I like to scalp the opening because i don't have a lot of patient. I risk $200 in every trade and my goal is to make ~$300 every day. Max loss ~350 to 400

6 minutes total trading today. (3 de 4)

First trade. 1 min ORB but i didn't like the price action and got out only with a $26 loss. I learn that from Andrew, in a 1 min ORB i expect the price goes down fast. In this case there was a pull back and I get out but keep my attention if is heading lower again I get back in. But here the stock crossed the VWAP  then is a long but after that i saw the MA up there and get all out. Them when it crossed the VWAP again went short, took 2 parcials and the cover all at the 200 MA.  

 

 

2nd trade: This one was making a pullback or a reversal in the 4th minute. I was waiting if that minute close over VWAP and the next minute is going up is a long for me. If that minute close below VWAP is like 1 min ORB based on the prior candle. I went short and cover all at daily goal and more.