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Bailey Nevener

YouTube Monthly Recaps - Profit/Loss!

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Traded early today because I am taking my beloved to the doctor's at 7.

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AMC has a head and shoulders forming on the 60 minute, so if I could place stops premarket I would still be in the trade short.

Date 

  • June 16, 2021

Status (Live/Sim/PCT Sim) 

  • PCT Sim

Performance Question

  • What did I do well?
    • I stopped trading after I exhausted the scenario that took me over goal amount.
  • What could I have done better?
    • Not traded premarket, but since I was mentally prepared for it (because it was my only option, it was a little different today)

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, my premarket losses are outsized compared to my regular gains premarket.  Today was the exception because I was paying attention to the psychological risks explicitly.  I should definitely stay away from premarket trading.

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Posted (edited)

Nothing too crazy today.  Have to go back to the surgeon today to make sure everything is up to snuff.

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Date 

  • June 17, 2021

Status (Live/Sim/PCT Sim) 

  • PCT Sim

Performance Question

  • What did I do well?
    • I stopped trading after hitting goal amount.
    • I traded early premarket since I had to (which is where I show more consistency during premarket)
  • What could I have done better?
    • Not traded premarket, but once again I don't want trading to interfere with the drive, so I got it out of the way.
    • I could have held onto my size on AMC short through the break of 53, but I saw size on the Best Bid that I didn't know what to look for to anticipate its break (because it was on SSR I didn't know what to expect reading the Level 2)

Psychology Questions

  • What's your performance pressure out of ten? 
    ( 0 =  too comfortable; 10 = too anxious)
    • 4
  • Is the current way I am trading going to lead to long term success?
    • No, my premarket losses are outsized compared to my regular gains premarket.  I should definitely stay away from premarket trading.  If I were live I would have just had to have waited until the open.
Edited by Bailey Nevener

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Date 

  • June 18, 2021

Status (Live/Sim/PCT Sim) 

  • PCT Sim

Performance Question

  • What did I do well?
    • I stopped trading after hitting goal amount.
      • Even after the stock continued to run.
  • What could I have done better?
    • I could have not traded premarket.  Definitely want to avoid this turning into a habit.
    • I could have set everything up to live stream, but I am just taking it easy after these past days with my SO's surgery recovery.

Psychology Questions

  • What's your performance pressure out of ten? 
    ( 0 =  too comfortable; 10 = too anxious)
    • 3
  • Is the current way I am trading going to lead to long term success?
    • Yes, even though I missed out on "lots of profit" I will just develop that over time.  What matters is that I am able to control my losses.  Which I really need to avoid premarket to do that.

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Posted (edited)

WEEKLY REVIEW

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RISK MANAGEMENT

Risk per trade (RPT):  $50

Daily Goal: $250

Max Loss : $250

Ratio:  50 : 250 : 250  or  1 : 5 : 5

NOTE:  On one of the days June 7-11 I was managing a live account and made plenty of money while I let the sim account fall to the wayside, so my accuracy is slightly higher than it looks here.

Edited by Bailey Nevener

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Posted (edited)

image.png.6df1d914f7aef6f5e0adec8312d07684.png

Date 

  • June 21, 2021

Status (Live/Sim/PCT Sim) 

  • PCT Sim

Performance Questions

  • What did I do well?
    • I stopped trading when I could tell I was out of obvious trade ideas at the open.
  • What could I have done better?
    • I could have placed my stop a little farther away on the initial long on AMC.
    • I could have placed my stop a little farther away on the add long on AMC in the third trade as well.

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 my buying power will need to be sufficient for this level of position sizing when I am in a live account.
      • I rely very heavily off of buying power for my adds (and consequently my edge)

 

Edited by Bailey Nevener

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image.png.ef8036702bc0013fda669c61452f8867.png

Date 

  • June 22, 2021

Status (Live/Sim/PCT Sim) 

  • PCT Sim

Performance Questions

  • What did I do well?
    • I didn't lose all of my money during the premarket trades.
    • I correctly read the price action of AMC going through the opening price.  (in contrary to Andrew Aziz's entry long 😛 )
      • Normally I would have entered long, but all of the other factors including the flow of the time and sales did not green light the trade. (getting a little experienced)
  • What could I have done better?
    • I could have decided not to trade since I started the trading day past goal amount.
      • This is generally when I blow up.

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?
    • No, I need to not trade premarket.  Best thing for me to do is to keep DAS closed until I have brought up Stream Labs and am already recording.

 

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Posted (edited)

image.png.80c4d2d61bed1049b222949480a859e1.png

Date 

  • July 6, 2021

Status (Live/Sim/PCT Sim) 

  • PCT Sim

 

Edited by Bailey Nevener

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Posted (edited)

image.png.b681a744cf7457f05840db74cc2733ec.png

Not a lot of energy in these videos lol, but its just a running record of what happened.  One day there will be spark!

Date 

  • July 12, 2021

Status (Live/Sim/PCT Sim) 

  • PCT Sim
Edited by Bailey Nevener

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Hey fellas that concludes my PCT Sim trading. 

I blew up the simulator account twice lol.  Thankfully it was not a live account.

The risk controls kept randomly turning on and off, so I had two large red days. 

I never trade in a live account without risk controls for this reason.

If you take out the two huge red days my profitability was rather consistent.

I missed a couple of TraderVue days, but you can see the overall trend here.  

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I have been looking for a house while this challenge has been going on as well as going to school, so my attendance has been very sub-par.  

When I get the house I will probably switch back to a live account, but until then I will continue to trade in a simulator.

 

Overall the challenge was a nice demonstration that (with proper risk controls) the open range breakout strategy utilized with my style is consistently profitable.

I wish that I didn't have two blow up days, but I don't know if I will ever not need the risk controls to prevent them.  I wake up very tired at least 1/20 days of the trading month, so it is inevitable that on one of those days I will make very bad decisions. 

I acknowledge that I need risk controls to be a profitable trader, fine with me!

Thanks for reading.

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I taught my girlfriend the strategy and she killed it today.  

She accidentally barely had any shares at the low entry, but it was awesome to watch.

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Posted (edited)

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I've been getting in a REALLY bad habit of "entering" several times in a 3 second interval. 

Its from the desire to have massive share size.  Which obviously worked well in this example. 

 

I need to work on sensitizing myself to the correct mechanics in trading again.  I feel very impulsive in my movements. 

One entry, one click.  When I add, one click, press the stop loss button etc. 

Sometimes things just get so fast that I feel very in control, but I certainly am not. 

I am lucky I didn't mess today up. 

 

I only ever had a max drawdown of $200 or so on the day.  So the gain wasn't just massive share size, I did it with very little risk. 

I am just feeling like I am getting reckless.

 

This sensitization can be solved with DAS replay by preforming the known  entries and exits purposefully in a controlled manner.  Several clicks at each entry is something that I cannot work with over time.  I must solve this issue.

Edited by Bailey Nevener

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I was trading PUTs on AMC with my girl's Robinhood account,

so I caught the initial drop with her, and then I made goal on DAS.

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Just waiting to get into my new house to fund the live account again. 

So glad I am not wondering if I will make money or not anymore lol.

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