Sudipta - Day Trading journal

[sudipta2510 2]

I trade only at open and I am trading only one setup 5 min ORB, Our mentors always tell at starting learn only few setups that is enough to make money. I am following the same.

Simple Rules:

• Trade only 5 min ORB
• Entry and exit based on 5 min trend lines
• No low float stocks
• Volatility < 10-11% [ Reason I am trading with very small risk hence small qty Kyle's htk, for volatile stock >10% I need to have wide SL hence I will get very very small qty and risk to reward is not favorable for me] 
• Partials based on Fibonacci levels [ It's really useful as I am trading with very small risk and qty hence I can partials at important levels in order to make most of the profile with less qty, and as all we know fib numbers are natural numbers and we can find most of the levels based on fib numbers. I am using fib numbers for my swing trade as well]
• Stocks should have good order flow
• Stocks  ranges $10-80 [ I am unable to manage risk outside this range, it's my comfort zone and I have a good edge in this range as per previous records]

5 Min ORB trade[INTC] Aug-20-2020: For this trade I saw weakness at premarket 15/30/60 min chart. I was planning to go short and was looking for 5 min break down.I went short after waiting for 2-3 min at open. I got a pullback and drew fib levels for partials. Eventually I closed all my position at 5 min trend break.

 

 

 

Edited August 22, 2020 by sudipta2510

[sudipta2510 2]

On 8/22/2020 at 11:58 AM, sudipta2510 said:

I trade only at open and I am trading only one setup 5 min ORB, Our mentors always tell at starting learn only few setups that is enough to make money. I am following the same.

Simple Rules:

• Trade only 5 min ORB
• Entry and exit based on 5 min trend lines
• No low float stocks
• Volatility < 10-11% [ Reason I am trading with very small risk hence small qty Kyle's htk, for volatile stock >10% I need to have wide SL hence I will get very very small qty and risk to reward is not favorable for me] 
• Partials based on Fibonacci levels [ It's really useful as I am trading with very small risk and qty hence I can partials at important levels in order to make most of the profile with less qty, and as all we know fib numbers are natural numbers and we can find most of the levels based on fib numbers. I am using fib numbers for my swing trade as well]
• Stocks should have good order flow
• Stocks  ranges $10-80 [ I am unable to manage risk outside this range, it's my comfort zone and I have a good edge in this range as per previous records]

5 Min ORB trade[INTC] Aug-20-2020: For this trade I saw weakness at premarket 15/30/60 min chart. I was planning to go short and was looking for 5 min break down.I went short after waiting for 2-3 min at open. I got a pullback and drew fib levels for partials. Eventually I closed all my position at 5 min trend break.

 

 

 

 

5 Min ORB trade: AMD Aug-24-2020 : I was looking for 5 min breakout, entry was late, booked partials at fib levels. At 5 min trend breakout I don't like the hammer candle closed all position. I prefer to use Fibonacci levels for my all trades I feel it's really useful to get good levels.

[tntp45 53]

Looks like a winner !

Nice Trade !

I admire how you are focusing on one strategy...

[sudipta2510 2]

On 8/22/2020 at 11:58 AM, sudipta2510 said:

I trade only at open and I am trading only one setup 5 min ORB, Our mentors always tell at starting learn only few setups that is enough to make money. I am following the same.

Simple Rules:

• Trade only 5 min ORB
• Entry and exit based on 5 min trend lines
• No low float stocks
• Volatility < 10-11% [ Reason I am trading with very small risk hence small qty Kyle's htk, for volatile stock >10% I need to have wide SL hence I will get very very small qty and risk to reward is not favorable for me] 
• Partials based on Fibonacci levels [ It's really useful as I am trading with very small risk and qty hence I can partials at important levels in order to make most of the profile with less qty, and as all we know fib numbers are natural numbers and we can find most of the levels based on fib numbers. I am using fib numbers for my swing trade as well]
• Stocks should have good order flow
• Stocks  ranges $10-80 [ I am unable to manage risk outside this range, it's my comfort zone and I have a good edge in this range as per previous records]

5 Min ORB trade[INTC] Aug-20-2020: For this trade I saw weakness at premarket 15/30/60 min chart. I was planning to go short and was looking for 5 min break down.I went short after waiting for 2-3 min at open. I got a pullback and drew fib levels for partials. Eventually I closed all my position at 5 min trend break.

 

 

 

 

5 Min ORB trade[RKT] Aug-25-2020: Same setup again, went short on 5 Min orb, booked partials at Fib levels. Closed all position after seeing hammer candle on 5 min chart.

I placed a limit order to book partials at 161.6% which stands on 27.06 but stock touched 27.11 and bounce back. I prefer to book partials at most of the fib levels.

Next trade was long got stopped out, it was not good idea to go long as it was trading below VWAP and 15/30 min chart was bearish.

[sudipta2510 2]

NCLH 5 min ORB: Same setup over and over again.I went short at 5 Min ORB. Booked partials at fib levels.I should have hold the remaining position as 15/30 min chart was still bearish,but got out after seeing indecision candle on 5 min chart.

[sudipta2510 2]

NCLH 5 min ORB: Went long at 5 min ORB, closed all position as it was unable to make new high on 5 min chart, as it was momentum trade I was not planning to hold till break even. Next trade was not good entry was bad due to slippage, stock was holding that level on 2 min chart so it was not a good idea to go short. 3rd trade was a long trade I went long and stopped out, again went long booked partials, closed all position when I saw a rejection on important fib levels, then stock dropped.

 

[sudipta2510 2]

WKHS 5 MIN ORB: Pre market 60 min chart I saw EMA crossover and in MACD there was a crossover. Sometimes if I used MACD when I see crossover at 30/60 min chart just for extra confirmation.

I saw a rejection on 50 MA on 5 min chart after open along with extra confirmation on pre market hence I went short and booked partials at important levels. Closed all position when I saw 5 min trend break and unable to make new low on 5/15 min chart.

[sudipta2510 2]

NCLH 5 MIN ORB: 1st trade entry was not good stopped out. Next trade went short again booked partials staring 2R. Got stopped out with bad slippage.

 

UAT 5 min ORB: Went short but stopped out did not enter again as I don't like the wicks, usually I avoid any stocks having long wicks as I am unable to manage risk for those stocks.

[sudipta2510 2]

NCLH  2 Min ORB trade: I went short when I saw weakness on chart in all timeframe. After entering when it went in my favor I added more then booked partials started from 2R. In 15 Min chart when I saw indecision candle I closed all my position. 

 

[sudipta2510 2]

WKHS:  2min ORB trade:

I went long when I saw it's taking support on 60 min chart at the open and 1st 2 min candle with high volume. Usually as per my rule I wait for first 2-3 min at the open then I went long, started taking partials.

Then I saw a pullback with light volume on 1 min chart hence added in the 1st pullback. After few partials again I got another pullback with light volume and at ASK I saw large orders hence added more and started taking partials. last I got out at BE.