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Bailey Nevener

YouTube Monthly Recaps - Profit/Loss!

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Date 

  • May 27, 2021

Status (Live/Sim/PCT Sim) 

  • PCT Sim

Performance Question

  • What did I do well?
    • I slept through both alarms, but this trade on AMC was EASY SQUEEZY, so I took it.
    • I didn't overstay my welcome.
      • I made money when I KNEW I could and said "peace" to the weaker speculation.
  • What could I have done better?
    • I could have gone to bed a little earlier.
    • I could have set up my third alarm I just bought.
      • I can't keep sleeping in!  I have been doing so much homework that it has been wrecking my schedule.

Psychology Questions

  • What's your performance pressure out of ten? 
    ( 0 =  too comfortable; 10 = too anxious)
    • 5
  • Is the current way I am trading going to lead to long term success?
    • Yes, but since my bread and butter is at the open I have to be extra cautious to not overstay my welcome or force a trade during this time of day.

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Posted (edited)

image.png.7920e1d07353d8edd1c39e77568ae835.png

Date 

  • May 28, 2021

Status (Live/Sim/PCT Sim) 

  • PCT Sim

Performance Question

  • What did I do well?
    • I didn't hold on for dear life at the open for AMC to go to the moon.
    • I added efficiently.  However, the quotes were slow, so I kind of got burned on one of my heavy partials.
  • What could I have done better?
    • I could have gone to bed a little earlier.
    • I could have stood up and left the computer after hitting goal amount!
      • The second episode of getting in heavy to get back up to 10R on my P&L shook me up.
    • To be clear, in the second video, I never actually hit my max loss. 
      • What I meant to say is, I lost over $250 from my high of $500.  When I was "down down", I was only -$50 on the day. 

Psychology Questions

  • What's your performance pressure out of ten? 
    ( 0 =  too comfortable; 10 = too anxious)
    • 8
  • Is the current way I am trading going to lead to long term success?
    • No, because I have to discontinue trading after I crush goal amount.  I know for a fact this type of behavior leads to my biggest losses.
Edited by Bailey Nevener

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Posted (edited)

WEEKLY REVIEW

image.png.a06ae517b252a92fde1e50aedbaad3d5.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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We've got $8k left to complete the PCT challenge with 68 total days / 47 trading days to go!

That was 20% complete in 1 week and 2 days. 

I wasn't expecting to have this level of accuracy especially with the bugs I was experiencing while setting up the platform before the competition started.

 

I am going to continue to take it easy and book something between $250 - $1250 weeks.  

If I don't cancel my stops and stick to the range break strategy I think we will be fine for the grind.

Good luck to everyone else in the competition.

 

Consistency is key!

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image.png.1036bb5077df30132ee56c3f14741cbf.png

Date 

  • June 1, 2021

Status (Live/Sim/PCT Sim) 

  • PCT Sim

Performance Question

  • What did I do well?
    • I started stopping out after I noticed that I was getting too confident.
    • I didn't freak out when I missed out on the HUGE run on AMD.
  • What could I have done better?
    • I could have used only technical stops for entries premarket in order to avoid the temptation of not stopping out while adding.
    • I could have held onto a partial position on AMD because everything was pointing up. 
      • Sell a significant portion of the position if you have to, thereby moving your stop down.

Psychology Questions

  • What's your performance pressure out of ten? 
    ( 0 =  too comfortable; 10 = too anxious)
    • 7
  • Is the current way I am trading going to lead to long term success?
    • Yes, because stocks like AMC are the exception generally.  Therefore I don't expect this to be a recurring issue with blatantly aggressive adds.

 

 

 

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Posted (edited)

Sorry guys I haven't posted in two days.

I hit max loss two days ago after hitting $700 profit.  

 

Then today AMC was going down so I left my DAS account alone and took a LONG PUT option and went all in on it on my live account.

I was in the middle of a trade in my DAS account though, so after being up yet $700 profit again, I hit max loss.  However I was managing real money, so I didn't care.

 

The trade worked directionally perfectly. 

After I got in a LONG PUT, the stock AMC hit limit down two times in a row.  This is best case scenario.

 

The implied volatility was dropping so fast though that I didn't make any more money than if I would have just shorted the stock.

Long story short I got out at breakeven because there was only a SLIGHT bounce in AMC.  

 

Once again, the IV was going down so quickly that my breakeven was moving down dollars at a time every 5 minutes.

The stock was 20% down from my entry and I still only got out at breakeven.  Insane.

 

So I 'kind of' hit max loss in my PCT account, and I broke even on a PUT option that was correct my direction over 20% when I got out.

 

Next time if I am in this situation I am either going to SHORT the PUT options, or I will go long PUTs deep in the money.

It was extremely disappointing, but I am going to try to refocus.

 

Both today and yesterday are distracting me from the PCT challenge, but I am going to try to take it easy and just get back on track.

My TraderVue chart isn't going to reflect these max loss days because I didn't upload the data.  I am still technically up over 2k on a $50 risk account.

If you counted the trading day in my DAS account that obviously would have been a win (20R+)  if I wasn't managing my live position, then I am probably close to $3k gain.

 

Very difficult psychologically for me, but I am going to just get back on the horse tomorrow.

@Andrew Aziz@Andrew Aziz - BBT

This might be a good warning to the other traders that are messing with options right now because even though I was insanely correct directionally, I barely walked away unscathed.

 

Edited by Bailey Nevener

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The risk controls aren't working correctly with DAS, so I contacted PCT management,

I spoke with DAS directly and had them put a note on my account to not modify my  risk settings. 

My auto-stop worked yesterday while I was killing it in the live account.

However, it did not work today, so I must resolve this because I ALWAYS blow up accounts that do not have risk controls with auto-stop.

I am going to try to call this a scratch week for various reasons and just get back on the horse for the rest of the challenge.

It is about 10 weeks long I think, so this singular week should look easily separable from my past and future performance.

I'm annoyed that my psychology has taken a hit, but gotta give it another shot.  I'm glad this week is over.

 

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Going to take it nice and easy tomorrow. 

Working on walking away if I hit the goal amount regardless of how much I feel like it was a sub-par trading day.

Here's to progress!

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This week is finals week, so it has interfered with my trading quite a bit, but hopefully I can get that next big trade on tomorrow with no issues.

 

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Well I was literally doing my MMW 15 final as a I was trading with zero hours for sleep, which was a disaster.  Submitted it on time though lol.

I also found out that the risk controls only work if the market is open, so I will have to modify the time I come to the computer to be within 15 minutes as to reduce the temptations for entry without accountability.

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Posted (edited)

image.png.b0096e212413580b80dc37795e8ad72b.png

(Forgot to show closed positions)

Date 

  • June 10, 2021

Status (Live/Sim/PCT Sim) 

  • PCT Sim
Edited by Bailey Nevener

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Posted (edited)

image.png.8b01868e958216489f2b7f79cac7c6a7.png

Date 

  • June 11, 2021

Status (Live/Sim/PCT Sim) 

  • PCT Sim
Edited by Bailey Nevener

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WEEKLY REVIEW

image.png.f56a7332f96742214edd1fb83583b0ab.png

RISK MANAGEMENT

Risk per trade (RPT):  $50

Daily Goal: $250

Max Loss : $250

Ratio:  50 : 250 : 250  or  1 : 5 : 5

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image.png.40433d504a3d7826478b3c5d264422b6.png

Date 

  • June 14, 2021

Status (Live/Sim/PCT Sim) 

  • PCT Sim

Performance Question

  • What did I do well?
    • I waited until the open to trade.  (In order that I would guarantee no blow up)
    • I identified a change in price action that allowed me to exit my AMC short before it was squeezed out.
  • What could I have done better?
    • I could have taken off a portion of my position off when AMC rebounded off of the open (while I was short) instead of taking a scratch trade.
      • And then added back through the open if it ended up breaking.

Psychology Questions

  • What's your performance pressure out of ten? 
    ( 0 =  too comfortable; 10 = too anxious)
    • 5
  • Is the current way I am trading going to lead to long term success?
    • Yes, if I trade during the open, I do not have any risk of blowing up because the controls are active.  During this period of time I'm consistently profitable.

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image.png.8bee658ac02a959a99daf7711390da1e.png

Date 

  • June 15, 2021

Status (Live/Sim/PCT Sim) 

  • PCT Sim

Performance Question

  • What did I do well?
    • I recognized that the price action's microgyrations were much too large to place my stops close (and add a lot) after the initial stop out at the open.
  • What could I have done better?
    • I could have NOT traded premarket because my stops don't work!

Psychology Questions

  • What's your performance pressure out of ten? 
    ( 0 =  too comfortable; 10 = too anxious)
    • 6
  • Is the current way I am trading going to lead to long term success?
    • No, because my losses are too big in comparison to the accuracy of my trades premarket.  Therefore I must discontinue trading premarket because my stops do not work or else I will not make money. 
      • Because I get less chances than I REQUIRE at the open to hit goal amount without stopping out

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