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Bailey Nevener

YouTube Monthly Recaps - Profit/Loss!

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Posted (edited)

image.png.eb36d73fced918decf1754f90cea77ef.png

  1. Date 
    • March 5, 2021
  2. Status (Live/Sim) 
    • Sim (It's going to be Sim until PCT is over basically)
  3. Net P&L (w/ECN Fees)
    • +287.40
  4. Current Equity
    • Sim Equity
      • $25,434.85
  5. Quality of Life (Kept Short)
    • Bedtime: 12:00 p.m. / 6:00 a.m.
  6.  Direct Questions
    • What did I do well?
      • I did not impulsively take profits at LOD on NCLH even though it had thrown 1 minute candles that looked bullish.
        • I was watching Time and Sales and volume to give me the confidence to hold.  
        • Kept in mind the bigger picture trade, looked for places to add.
    • What could I have done better?
      • I could have added to NIO short, and upon realizing I size incorrectly, I could have taken some off until my stop was behind the lower high.
    • Is the performance pressure I feel increasing or decreasing?
      • Decreasing slightly.  I did finish the week green.  However, I did not hit the weekly goal amount of 500 because I took a day off.
        • And I didn't hold onto my NIO winner for the psychological sizing reasons of course. (That would have made me hit goal amount)
        • Who knows, it could have been a red day anyway!
    • Is the current way I am trading going to lead to long term success?
      • Yes.  I believe as long as I take it day by day and don't sweat the losing days and try to get better by just 1% everyday, I will continue to progress into even more consistency.

 

WEEKLY REVIEW

image.png.9bd4dac7d9fe07e3b7cb7ec0b8acb08a.png

RISK MANAGEMENT

Risk per trade (RPT):  $50

Daily Goal: $250

Max Loss : $250

Ratio:  50 : 250 : 250  or  1 : 5 : 5

Edited by Bailey Nevener

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Posted (edited)

image.png.e4c2b519063f9df32cbeb2ba567a12d5.png

  1. Date 
    • March 8, 2021 (My Birthday)
  2. Status (Live/Sim) 
    • Sim (It's going to be Sim until PCT is over basically)
  3. Net P&L (w/ECN Fees)
    • +209.42
  4. Current Equity
    • Sim Equity
      • $25,644.27
  5. Quality of Life (Kept Short)
    • Bedtime: 12:00 p.m. / 5:45 a.m.
  6.  Direct Questions
    • What did I do well?
      • I didn't let the EV sector chop destroy my trading day.
        • It was flat while SPY was heading up.
    • What could I have done better?
      • I could have waited for the BID to cross over the 1 minute range at the open because it never recharged off VWAP prior to the break.
        • In other words, the break never happened and I should not have anticipated it under those conditions.
      • I could have held my longer timeframe trade on NIO work out after selling the initial partial.
        • The trade isn't worth the risk if I don't let it run to 3/5ths up the 5-minute pennant at least.
    • Is the performance pressure I feel increasing or decreasing?
      • The pressure is decreasing because I am invested in DBX and my accountability circle is increasing.
    • Is the current way I am trading going to lead to long term success?
      • Yes, I believe it will lead to long term success because I am making use of directionality in my trading, not accuracy %, which is our edge as discretionary traders.
        • Today was choppy, so my early exits were beneficial, but I need to keep in mind that might work against me on more directional days.

 

Edited by Bailey Nevener

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Posted (edited)

image.png.e536701296500ed346da6cd2761e7e0c.png

  1. Date 
    • March 10, 2021
  2. Status (Live/Sim) 
    • Sim (It's going to be Sim until PCT is over basically)
  3. Net P&L (w/ECN Fees)
    • +13.69
  4. Current Equity
    • Sim Equity
      • $25,657.96
  5. Quality of Life (Kept Short)
    • Bedtime: 10:30 p.m. / 5:45 a.m.
  6.  Direct Questions
    • What did I do well?
      • I didn't take any trades in the first minute, and I stopped trading before hitting goal.
    • What could I have done better?
      • I could have stopped entering twice at range breaks. 
        • I need to be adding onto original trades only if I had an early entry (mid range) with the add at the range break (top of range).
      • I needed to let my stops hit.  The setups looked so good at the open and immediately didn't work, so I have to let myself get stopped out.
        • I averaged down worse than any trading day in a long time.  I just made sure my risk controls were inputted.
    • Is the performance pressure I feel increasing or decreasing?
      • Decreasing.  DBX position working.
    • Is the current way I am trading going to lead to long term success?
      • No.  I have to let my stops work regardless of how good  a setup looks.
        • We make money as day traders from directionality, not accuracy %, so I should stop trying to be right more than in a good R:R setup.

 

Edited by Bailey Nevener

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Posted (edited)

image.png.0c70a1bd15bc637bd8fad3e622707f69.png

I woke up late, so no video unfortunately!

(It was my wife and I's birthday week lol)

  1. Date 
    • March 12, 2021
  2. Status (Live/Sim) 
    • Live (I got my IBKR account connected again!)
  3. Net P&L (w/ECN Fees)
    • +154.72 (Probably higher, but the Option entry fee was like 6 bucks)
  4. Current Equity
    • Sim Equity
      • $25,812.68
  5. Quality of Life (Kept Short)
    • Bedtime: 11:30 p.m. / 11:00a.m.
  6.  Direct Questions
    • What did I do well?
      • I took my money and ran!
    • What could I have done better?
      • Woke up on time.
    • Is the performance pressure I feel increasing or decreasing?
      • Decreasing.  DBX position working.
    • Is the current way I am trading going to lead to long term success?
      • Yes.  Just don't trade late in the day too much buddy.

WEEKLY REVIEW

image.png.0d71efadcdc565a6521f118a0ff6d5c9.png

RISK MANAGEMENT

Risk per trade (RPT):  $50

Daily Goal: $250

Max Loss : $250

Ratio:  50 : 250 : 250  or  1 : 5 : 5

Edited by Bailey Nevener
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Posted (edited)

image.png.ce37de865f53537082c20ee60c8e1046.png

  1. Date 
    • March 15, 2021
  2. Status (Live/Sim) 
    • Live 
  3. Net P&L (w/ECN Fees)
    • +202.40
  4. Current Equity
    • Sim Equity
      • $26,014.40
  5. Quality of Life (Kept Short)
    • Bedtime: 2:00 a.m. / 5:45 a.m.
  6.  Direct Questions
    • What did I do well?
      • I stopped trading after getting extremely close to my goal amount.
      • I waited until 9:28 a.m. EST passed and avoided getting chopped out on the influx of volume while we were still rangebound.
    • What could I have done better?
      • I could have held a portion of my UAL trade to at least the ATR or beyond because we just broke a daily range, so an expansion was expected.
      • In the future I will open multiple positions, but for now I am accepting my wins 'as is' and am not trying to catch every move.
    • Is the performance pressure I feel increasing or decreasing?
      • Decreasing.  DBX position working.
    • Is the current way I am trading going to lead to long term success?
      • Yes, because I am waiting for my entries and not adding over aggressively in consideration of micro-gyration sizes.  
        • This was evident in how I refrained from adding aggressively in UAL because of the spread.
Edited by Bailey Nevener

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Posted (edited)

image.png.21c36d815cf4cded88d5e27d2a41cda7.png

  1. Date 
    • March 16, 2021
  2. Status (Live/Sim) 
    • Live 
  3. Net P&L
    • $-299.21
  4. Current Equity
    • Sim Equity
      • $25,715.19
  5. Quality of Life (Kept Short)
    • Bedtime: 2:00 a.m. / 5:45 a.m.
  6.  Direct Questions
    • What did I do well?
      • I switched positions on AAL after getting stopped out to the long side.
        • HOWEVER, I only got executed with 2 shares short!
      • I didn't blow up without risk controls.
    • What could I have done better?
      • I should have identified the retest area on AAL and took a partial at it, rather than adding aggressively into it.
        • This would have made my day positive at that point.
      • I also got to the computer late, so I was a little less prepared when the market opened.
    • Is the performance pressure I feel increasing or decreasing?
      • Decreasing.  DBX position working.  
        • I don't want to make a habit of losing days, but I will give a little bit of the pressure to the market condition.
    • Is the current way I am trading going to lead to long term success?
      • Yes, however, not discontinuing trading when my time limit of 10:00 a.m. EST hits, especially when I already have a loss, will exacerbate my losing days.
        • Therefore I need to make sure that I am making a point to 'walk away' even with a loss at that time.
Edited by Bailey Nevener

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I went to bed way too late last night, so I skipped trading today.

You don't make money by losing money!

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Posted (edited)

image.png.87909e53a9646f40945e5fd1a0245ddd.png

image.png.5a0915f1fa6a9fa85d283c12a63cc024.png

I couldn't fall asleep last night at all, so I decided not to trade again!!!

I saw that my DropBox position was plummeting on low volume, so I added 400 shares when I saw the major volume increase at LOD.

In theory if this comes to my profit target, ~43, that will add an extra $6,700 onto the gain.  

 

It was probably short covering before the close, but I still feel like we will get a nice bounce off the daily 9 EMA.

 

I also bought to close my covered calls, so when it inevitably bounces I can move my strike further up the option chain.

I made about 33% of the maximum premium from that position in my main account, and about 45% in my smaller account.

Not bad considering I opened the covered calls when DBX was still below 25!

image.png.0d3163a860e4aa303f749bd4bacc9881.png

Edited by Bailey Nevener

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Posted (edited)

image.png.efcbf706fac3ce0f5d013a5c52d6e05e.png

image.png.9c43c7273460c41bb113bfa4f1108474.png

  1. Date 
    • March 19, 2021
  2. Status (Live/Sim) 
    • Live 
  3. Net P&L
    • $-225.51
  4. Quality of Life (Kept Short)
    • Bedtime: 4:00 a.m. / 5:45 a.m.
  5.  Direct Questions
    • What did I do well?
      • I traded conservatively in the morning after having no progress in the chop environment.
    • What could I have done better?
      • Stopped at 10:00 a.m. and entered "position closing mode".
    • Is the performance pressure I feel increasing or decreasing?
      • Decreasing.  DBX position working.
        • Work on getting better 1% from one day to the next.  This next weeks goal, time limit!
    • Is the current way I am trading going to lead to long term success?
      • Yes, but I become emotionally tired the longer I trade, so I must abide by my time limit rules.

 

 

WEEKLY REVIEW

image.png.47fcd1dd8529fb0b163fe5e295825c14.png

RISK MANAGEMENT

Risk per trade (RPT):  $50

Daily Goal: $250

Max Loss : $250

Ratio:  50 : 250 : 250  or  1 : 5 : 5

Edited by Bailey Nevener

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Posted (edited)

image.png.540de13050018864046fae26c0959989.png

image.png.e089924561ca265b23b718ea631d09c3.png

  1. Date 
    • March 22, 2021
  2. Status (Live/Sim) 
    • Live 
  3. Net P&L
    • $125.28
  4. Quality of Life (Kept Short)
    • Bedtime: 2:00 a.m. / 5:45 a.m.
  5.  Direct Questions
    • What did I do well?
      • I held Facebook until it got to my profit target despite the unfamiliar waiting time necessary for later day plays.
      • I anticipated the hammer on Facebook at LOD and took advantage of the bias I had on it to have a sizeable winner back through the open.
    • What could I have done better?
      • Still needed to stop at 10:00 a.m.
      • Not taken an impulsive trade on NIO twice.
        • It was only motivated by the 1 minute chart, and it had no higher timeframe backing.  (Think bigger picture to capture bigger moves with higher % accuracy)
    • Is the performance pressure I feel increasing or decreasing?
      • Decreasing, DBX is working, and my accountability structure is increasing.
    • Is the current way I am trading going to lead to long term success?
      • Yes, but I need to reinforce or come up with a way to ensure trading will not continue after my time limit.
Edited by Bailey Nevener

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I reviewed my trades, and it seems that eliminating bad trades should be my main focus right now.

I took over 150 in losses on NIO from 1 minute entry, forced trades.  I took a 60 loss on PLTR instead of 25 because I hit 1R stop loss instead of 0.5R.  I also missed out on 100 gain from FB on one of my long trades because I hit the Panic Sell button on accident instead of the Set Price hot button.

I am going to focus on trading my strategy calmly and being cognizant of the bad trades that are bashing my edge in.  I am also going to double check that I am hitting the correct hot buttons.

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Posted (edited)

image.png.a5a9cccd8290f502515ef054e0ec4c24.png

  1. Date 
    • March 22, 2021
  2. Status (Live/Sim) 
    • Live 
  3. Net P&L
    • $238.88
  4. Quality of Life (Kept Short)
    • Bedtime: 3:00 a.m. / 5:45 a.m.
  5.  Direct Questions
    • What did I do well?
      • I cut my losses quickly on BABA.
      • I stuck purely to my strategy.
      • I quit while I was ahead on my P&L and early!
    • What could I have done better?
      • I could have had MSFT on another screen so I could have taken the range break.
      • I took an impulsive entry on BABA back through the open despite the worse R:R.
        • I need to reign that in so my psychology isn't at risk for a couple of dollars.
    • Is the performance pressure I feel increasing or decreasing?
      • Decreasing, DBX is working, and my accountability structure is increasing.
      • I have also defined my trading strategy a little better.
    • Is the current way I am trading going to lead to long term success?
      • Yes, I need to get more screens and get good sleep!
Edited by Bailey Nevener

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Posted (edited)
  1. Date 
    • March 24, 2021
  2. Status (Live/Sim) 
    • Live 
  3. Net P&L
    • $21.58
  4. Quality of Life (Kept Short)
    • Bedtime: 1:00 a.m. / 5:45 a.m.
  5.  Direct Questions
    • What did I do well?
      • Reviewing video.
    • What could I have done better?
      • Reviewing video.
    • Is the performance pressure I feel increasing or decreasing?
      • Decreasing
    • Is the current way I am trading going to lead to long term success?
      • Yes, I got a new screen
Edited by Bailey Nevener

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Posted (edited)

image.png.cf48fb66b239e9279ed3df4e5964d4ad.png

  1. Date 
    • March 25, 2021
  2. Status (Live/Sim) 
    • Live 
  3. Net P&L
    • $193.65
  4. Quality of Life (Kept Short)
    • Bedtime: 3:00 a.m. / 5:45 a.m.
  5.  Direct Questions
    • What did I do well?
      • Reviewing video.
    • What could I have done better?
      • Reviewing video.
    • Is the performance pressure I feel increasing or decreasing?
      • Decreasing, my consistency is doing well, however I feel very committed to getting green days, so I need to be careful about trading past ten, especially if my P&L is negative.
    • Is the current way I am trading going to lead to long term success?
      • Yes, I got a new screen, but I still need to get better sleep!
Edited by Bailey Nevener

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