Thunder dome

[A_aron 27]

Date: 12-29-20
Stock: AMD
Strategy: Directional
Long/Short: Short
Entry: 91.83
S/L: 91.93
Risk:  0.10

Why did you take the trade?:

-          2 min chart I saw multiple shooting star candles. The volume was below average but the last shooting star candle had high volume.
-          5 min chart I saw shooting star candle with above average volume. Then b/t 6:50-6:55 candle was: 1) engulfing bear 2) anomaly [ low volume and big candle]
-          Shooting star candle  with high volume followed a indecision candle at the open.
-          Additionally the EMAs where turning negative

How did you feel after taking the trade?:
-          Confident that the stock turned Bearish. I did not expect a large drop.

What did you do well?:
- Partial out
- having a plan.
- Not trading to trade. I waited for the right trade.

 

15min                                                                                                                                                                    5 min                                                                                                                                       

2 min

2   

[A_aron 27]

Date: 12-29-20
Stock: AAPL
Strategy: There was none
Long/Short: Long
Entry: 138.24
S/L:  138.10
Risk:  0.14

Why did you take the trade?:

              - I took the trade just to trade. There was no plan besides going long. 

How did you feel after taking the trade?:
                 - Doh!

 What did you do well?:
         - having a stop loss. 

What can you improve on?:

Don’t trade just to trade. Wait for the right set up.

15 min                                                                                                                5min                                                                                                                   2 min  

[Michael Sanchez 53]

1 hour ago, A_aron said:

Date: 12-29-20
Stock: AMD
Strategy: Directional
Long/Short: Short
Entry: 91.83
S/L: 91.93
Risk:  0.10

Why did you take the trade?:

-          2 min chart I saw multiple shooting star candles. The volume was below average but the last shooting star candle had high volume.
-          5 min chart I saw shooting star candle with above average volume. Then b/t 6:50-6:55 candle was: 1) engulfing bear 2) anomaly [ low volume and big candle]
-          Shooting star candle  with high volume followed a indecision candle at the open.
-          Additionally the EMAs where turning negative

How did you feel after taking the trade?:
-          Confident that the stock turned Bearish. I did not expect a large drop.

What did you do well?:
- Partial out
- having a plan.
- Not trading to trade. I waited for the right trade.

 

15min                                                                                                                                                                    5 min                                                                                                                                       

2 min

2   

Hey Aaron, this was a great trade. Your entry was perfect and you managed the trade extremely well. Great job reading the price action before your trade! 

[Michael Sanchez 53]

1 hour ago, A_aron said:

Date: 12-29-20
Stock: AAPL
Strategy: There was none
Long/Short: Long
Entry: 138.24
S/L:  138.10
Risk:  0.14

Why did you take the trade?:

              - I took the trade just to trade. There was no plan besides going long. 

How did you feel after taking the trade?:
                 - Doh!

 What did you do well?:
         - having a stop loss. 

What can you improve on?:

Don’t trade just to trade. Wait for the right set up.

15 min                                                                                                                5min                                                                                                                   2 min  

This was also a pretty good trade. I mean AAPL looked like it was going to break above VWAP wat the open. Great job managing the trade and getting out at your stop.

[Michael Sanchez 53]

Stock: BABA

Strategy: ORB, and N/A

Why did you take the trade?: Well, the first BABA trade i took was an ORB LONG. I thought that the price action would bounce off of the 60min 9ema and breakout to the longside. That did not happen and i made the mistake of going long while the stock was trading under the VWAP. I realized my mistake and got out  just over breakeven. The second BABA trade, I anticipated a RABCD pattern. This was a horrible trade because I traded based on a GUT feeling. 

Long/Short: LONG

Entry: 241.87

Risk: 64 cents 

S/L: 241.23

How did you feel after taking the trade?: After my first trade I felt happy that I was able to recognize that I was in the wrong and got out immediately. 

What did you do well?: Getting out of the trade while i can to reduce damage to P/L

What can you improve on?: My ABCD pattern fundamentals 

 

[Michael Sanchez 53]

Stock: UAL

Strategy: ABCD

Why did you take the trade?: I took this trade because I saw an ABCD appearing on the 5 min chart. The price action was respecting the 5 min 9 ema and I knew that a potential breakout was imminent. The pullbacks were on low volume and the candlesticks seemed to indicate that this stock did not want to break below VWAP. It took my a total of 3 tries to get into this position. I stopped myself out the first time. Got stopped out the second time, and finally got it on the 3rd try. 

Long/Short: LONG

Entry: 44.03

Risk: 10 cents 

S/L: 43.93

How did you feel after taking the trade?: I felt bad after I took this trade because my first entry was perfect. It had a great S/L and R/R. I would have caught the breakout at 1025 if I would have stuck with my original entry. 

What did you do well?: I liked how I was able to recognize the ABCD pattern and be patient.

What can you improve on?: I need to stop second guessing myself and have confidence in my training. 

Questions?: What would you have done differently? 

 

Edited December 30, 2020 by Michael Sanchez

[Michael Sanchez 53]

Stock: MSFT

Strategy: RABCD

Why did you take the trade?: I took this trade after Aaron called it out and stated that MSFT was consolidating. I wanted the stock to reach the 5min 9ema so that I may take this trade. As soon as it made contact with the 9ema on the 5 min chart I took it to the short side with a tight S/L. the stock broke down and i decided to get out just under 3R because i saw a hammer with above average volume. I figured the move was over since there was a daily MVA just below it. 

Long/Short: SHORT

Entry:  222.22

Risk: 88 cents 

S/L: 223. 10

How did you feel after taking the trade?: Great! This was an A+ setup

What did you do well?: Patience, patience , patience 

What can you improve on?: I need to improve on my psychology. Specifically, self-doubt. 

 

Edited December 30, 2020 by Michael Sanchez

[A_aron 27]

8 hours ago, Michael Sanchez said:

Stock: MSFT

Strategy: RABCD

Why did you take the trade?: I took this trade after Aaron called it out and stated that MSFT was consolidating. I wanted the stock to reach the 5min 9ema so that I may take this trade. As soon as it made contact with the 9ema on the 5 min chart I took it to the short side with a tight S/L. the stock broke down and i decided to get out just under 3R because i saw a hammer with above average volume. I figured the move was over since there was a daily MVA just below it. 

Long/Short: SHORT

Entry:  222.22

Risk: 88 cents 

S/L: 223. 10

How did you feel after taking the trade?: Great! This was an A+ setup

What did you do well?: Patience, patience , patience 

What can you improve on?: I need to improve on my psychology. Specifically, self-doubt. 

 

- Good job at recognizing that the three hammer with high volume!
                - Did you see the other two on the trend with the high volume or just that one? 
- Good Job to stick to the plan for your entry and not forcing anything.
- Overall good trade!

[A_aron 27]

8 hours ago, Michael Sanchez said:

Stock: UAL

Strategy: ABCD

Why did you take the trade?: I took this trade because I saw an ABCD appearing on the 5 min chart. The price action was respecting the 5 min 9 ema and I knew that a potential breakout was imminent. The pullbacks were on low volume and the candlesticks seemed to indicate that this stock did not want to break below VWAP. It took my a total of 3 tries to get into this position. I stopped myself out the first time. Got stopped out the second time, and finally got it on the 3rd try. 

Long/Short: LONG

Entry: 44.03

Risk: 10 cents 

S/L: 43.93

How did you feel after taking the trade?: I felt bad after I took this trade because my first entry was perfect. It had a great S/L and R/R. I would have caught the breakout at 1025 if I would have stuck with my original entry. 

What did you do well?: I liked how I was able to recognize the ABCD pattern and be patient.

What can you improve on?: I need to stop second guessing myself and have confidence in my training. 

Questions?: What would you have done differently? 

 

- Good job at sticking with the trade. 
-  Do you watch the 5min chart for weakness/ strength to determine to get out/ stay in the trade? 
 

[A_aron 27]

9 hours ago, Michael Sanchez said:

Stock: BABA

Strategy: ORB, and N/A

Why did you take the trade?: Well, the first BABA trade i took was an ORB LONG. I thought that the price action would bounce off of the 60min 9ema and breakout to the longside. That did not happen and i made the mistake of going long while the stock was trading under the VWAP. I realized my mistake and got out  just over breakeven. The second BABA trade, I anticipated a RABCD pattern. This was a horrible trade because I traded based on a GUT feeling. 

Long/Short: LONG

Entry: 241.87

Risk: 64 cents 

S/L: 241.23

How did you feel after taking the trade?: After my first trade I felt happy that I was able to recognize that I was in the wrong and got out immediately. 

What did you do well?: Getting out of the trade while i can to reduce damage to P/L

What can you improve on?: My ABCD pattern fundamentals 

 

- Since you recognized that you where wrong after you entered the trade. Could you just reverse/ flip the trade?

 

[A_aron 27]

Date: 12-30-20
Stock: AMD
Strategy: Scalp [ going for directional  but Hotkeys pulled my entire position]
Long/Short: Long
Entry: 90.89
S/L:  90.81
Risk:  .08
 

Why did you take the trade?:

-          I saw that the price action pushed through all the EMA and was just under the VWAP.

 How did you feel after taking the trade?:

-          Disappointed I showed up late for the squeeze.

 What did you do well?:
              - managing my risk. I only risked .08 b/c it had not broken through the VWAP  yet.

             - If my hotkeys had not been acting up this would have been a red trade.

 What can you improve on?:

-          If you look at the 2 min chart you can see that the bullish candle that you made the trade on was only had average volume. Where the bearish candle 4 min ago was about the same size and had high volume. This should have been an immediate red flag that the upward movement was possibly weak. Which it was, as the price moved up the volume decreased.  
                                        - I did not look at these things I was super focused on where the pirce action was in relation to the VWAP. 

-          Don’t get tunnel vision on one-time frame.

-          Volume price analysis.

 

Questions

Would you have taken this trade?

 

Edited December 31, 2020 by A_aron

[A_aron 27]

Date: 12-30-20

Stock: MSFT

Strategy: Directional 

Long/Short: Short

Entry: 223.25
S/L: 223.42
Risk:  0.17

Why did you take the trade?:

-          Weak stock, holding the 9 ema on the 2min chart

 How did you feel after taking the trade?:

-          Good.

 What did you do well?:
               - I thought my entry was good considering it wasn’t on my watchlist. Additioally taking profits at 2R instead of 1R.

 What can you improve on?:

-      Fix hot keys. It continues to take the entire position out instead of partial out

 

[Michael Sanchez 53]

1 hour ago, A_aron said:

Date: 12-30-20

Stock: MSFT

Strategy: Directional 

Long/Short: Short

Entry: 223.25
S/L: 223.42
Risk:  0.17

Why did you take the trade?:

-          Weak stock, holding the 9 ema on the 2min chart

 How did you feel after taking the trade?:

-          Good.

 What did you do well?:
               - I thought my entry was good considering it wasn’t on my watchlist. Additioally taking profits at 2R instead of 1R.

 What can you improve on?:

-      Fix hot keys. It continues to take the entire position out instead of partial out

 

 

1 hour ago, A_aron said:

Date: 12-30-20
Stock: AMD
Strategy: Scalp [ going for directional  but Hotkeys pulled my entire position]
Long/Short: Long
Entry: 90.89
S/L:  90.81
Risk:  .08
 

Why did you take the trade?:

-          I saw that the price action pushed through all the EMA and was just under the VWAP.

 How did you feel after taking the trade?:

-          Disappointed I showed up late for the squeeze.

 What did you do well?:
              - managing my risk. I only risked .08 b/c it had not broken through the VWAP  yet.

             - If my hotkeys had not been acting up this would have been a red trade.

 What can you improve on?:

-          If you look at the 2 min chart you can see that the bullish candle that you made the trade on was only had average volume. Where the bearish candle 4 min ago was about the same size and had high volume. This should have been an immediate red flag that the upward movement was possibly weak. Which it was, as the price moved up the volume decreased.  
                                        - I did not look at these things I was super focused on where the pirce action was in relation to the VWAP. 

-          Don’t get tunnel vision on one-time frame.

-          Volume price analysis.

 

Questions

Would you have taken this trade?

 

Great trades man!!! I really liked the trade you took with MSFT. The entry was great and your stop-loss is super tight. If it was not for your hotkey you would have probably been in that trade all day since it was trending downwards. On the AMD trade I can tell you had the right concept. Usually after huge moves on the candles there is a pullback . I usually wait for it to come back to the 5 min 9ema. If it goes without you it goes without you do not feel like you are going to miss out on the move. 

Edited December 31, 2020 by Michael Sanchez

[Michael Sanchez 53]

1 hour ago, A_aron said:

- Good job at recognizing that the three hammer with high volume!
                - Did you see the other two on the trend with the high volume or just that one? 
- Good Job to stick to the plan for your entry and not forcing anything.
- Overall good trade!

 

1 hour ago, A_aron said:

- Good job at sticking with the trade. 
-  Do you watch the 5min chart for weakness/ strength to determine to get out/ stay in the trade? 
 

 

1 hour ago, A_aron said:

- Since you recognized that you where wrong after you entered the trade. Could you just reverse/ flip the trade?

 

1) I did see the other hammer. But what I have noticed, and Thor says this alot, is that it takes time for the trade to reverse. Of course, those hammers were making me more and more anxious but they were just warning signs. However, when the hammer formed close to the technical level (Low of Day) on high volume I told myself to get out. I also saw another new low on the candle right after that which gave me a little more confidence in my trade.

2) I am starting to implement the 5 min chart more and more. I am so use to using the 1 min chart that I tend to get hyper focused.  On UAL I focused way too much on the 1 min chart and on MSFT I did the right thing and focused on the 5 min chart. It was legitimately night and day.

3) I do not flip my trades because I force myself to only have 3 trades total or 2 max losses in a row before I cut myself off. So if i fail once I will just wait for another setup. I know I broke my rules today when I tried to get into UAL 1 MILLION times. But I just do not like flipping my position because I can have two losing trades at the open and them im screwed. 

[Michael Sanchez 53]

Format:

Stock: TSLA

Strategy: ORB

Why did you take the trade?: I have no idea but I will never do it again.

Long/Short: LONG

Entry: 702.95

Risk:  A dollar something 

S/L: 700.26

How did you feel after taking the trade?: Frankly, this was a stupid trade!! I felt guilty that I took a trade with no plan at all. However, I was able to come up with great trades to make up for my error.

What did you do well?: Resilience 

What can you improve on?: I should not take trades at the open these days. I need to be patient and wait for an A+ setup. 

 

Edited December 31, 2020 by Michael Sanchez