Thunder dome

[Michael Sanchez 53]

Hello BBT,

My friend and I (A_aron) are going to be posting our trades on this forum. We will be giving each other feedback in order to learn from one another. However, feel free to post your trades and join us!!!!! The more feedback we get the better. Our goal is to shorten our learning curve and learn from others. Thank you!

Format:

Stock:

Strategy:

Why did you take the trade?:

Long/Short:

Entry: 

Risk:

S/L:

How did you feel after taking the trade?:

What did you do well?:

What can you improve on?:

Questions?:

Edited December 31, 2020 by Michael Sanchez

[Michael Sanchez 53]

12/22/2020

I took this trade because I saw potential for an ABCD pattern on the 5 min chart. However, I made the error or entering the trade prematurely. I should have waited to see what the stock would do and should have taken the trade if/when it broke out. PTON was gapping up on the daily chart so I should have been a little more skeptical about going long. 

[Michael Sanchez 53]

 I took this trade because I saw confirmation on the level 2. I wanted to take this trade as an ABCD pattern (Type3), but I was impatient. FOMO got the best of me. I should have waited for more confirmation and should  not have taken this trade because it was far from the 5 min 9 ema. 

[A_aron 27]

Goals for the day:

-          Get feet wet with day trading.

Set up: Triple Screen Method

-          3 screens (15/5/1 min chart)

-          All have 13 and 26 EMA and VWAP

-          15min= MACD- lines

-          5 min = Stochastic Slow (label as S.S) [ Exit Screen]

-          1 min= 2-day Force Index [Entry screen]

 

Red Trade of the Day:

PLTR

Long

 

15min

 

5min

1 min

 

Thought Process 

-          15min chart: Confirmed the Bulls where in control

-          5 min chart :

                      o   engulfing candle with good volume, possible ORB.

                     o   S.S crossed over showing the Bulls where starting to take control.

-          1 min chart:

                   o   Waited for F.I. to be negative. Then made my entry. Was hesitant and resulted poor entry

-          First Profit target:  pre-market high 26.69

-          Result:

                   o   Stopped out.

 

Edited December 23, 2020 by Aaron McCune

[A_aron 27]

Green Trade of the Day:

FCEL

Long

Entry: 10.46

SL: 10.34

Risk= 10

15 min

 

5 min

 

1 min

Thought process:

-          15min chart: To be honest I didn’t even look at it .

-          5 min chart :

                o   S.S. confirmed Bulls where in power

                o   Indecision candle with good volume

-          1 min chart:

               o   Price action  tested 13 day EMA and acting as a support

               o   Waited for F.I. to be negative. Then made my entry.

 

-          Profit targets:

                    o   I didn’t have any hard set ones. Looked at the daily and premarket and didn’t find any b/c this stock was at ATH.  

                   o   I would take profits out as trend was starting to lose steam.

-          Stop loss was the 26 EMA of my entry candle.

-          Result:

                     -For some reason TOS wouldn’t let me partial out my position. Probably b/c there wasn’t any shares to borrow. So I dropped the entire position. But I was still green.

-          This stock would have been good for 5/15 min ORB.

 

Questions:

Is the set up too busy/ complicated for day trading?

Edited December 23, 2020 by Aaron McCune

[Michael Sanchez 53]

Hey Aaron,

What made you get out of your FCEL trade? 

[A_aron 27]

TOS wouldn't let me partial out. I didnt want to have a major loss b/c of it 

 

[A_aron 27]

Sanchez,

PTON

I can see why you took the trade on the 5 min chart with low volume on the bearish candles. Additionally, it looks like the bulls had taken control via 2^nd 5 min candle that was supported with good volume. On the 1 min chart, an issue I see is that you were going long into 2 EMAs after it had broken down through them.

RIOT,

No comment.

[Michael Sanchez 53]

34 minutes ago, Aaron McCune said:

Sanchez,

PTON

I can see why you took the trade on the 5 min chart with low volume on the bearish candles. Additionally, it looks like the bulls had taken control via 2^nd 5 min candle that was supported with good volume. On the 1 min chart, an issue I see is that you were going long into 2 EMAs after it had broken down through them.

RIOT,

No comment.

Definitely, I did not pay attention to the 1 min 9 ema. That would have been a clear contraindication to not take the trade. 

Edited December 22, 2020 by Michael Sanchez

[MattfromNZ 55]

16 hours ago, Michael Sanchez said:

Hello BBT,

My friend and I (A_aron) are going to be posting our trades on this forum. We will be giving each other feedback in order to learn from one another. However, feel free to post your trades and criticize us if you would like. The more feedback we get the better. Our goal is to shorten our learning curve and learn from others. Thank you!

This is a good idea. Are you guys trading with paper or real money? I am very early in my learning stage so I have no advice, other than I found Aaron's charts difficult to see with only outlines for bullish candles.

[Michael Sanchez 53]

3 minutes ago, MattfromNZ said:

This is a good idea. Are you guys trading with paper or real money? I am very early in my learning stage so I have no advice, other than I found Aaron's charts difficult to see with only outlines for bullish candles.

Hello friend, 

We are currently paper trading as we are also new to trading. Feel free to post your trades so that we may all learn from each other. 

[MattfromNZ 55]

5 minutes ago, Michael Sanchez said:

Hello friend, 

We are currently paper trading as we are also new to trading. Feel free to post your trades so that we may all learn from each other. 

Thanks man, it will be about a week before I'm back to being able to trade, but will keep you guys in mind.

[Michael Sanchez 53]

Stock: AAL

Strategy: ORB

Why did you take the trade?: I took this trade for a variety of reasons. First, while listening to YAHOO Finance, they stated that travel sectors were bullish which made me take a look at AAL. Second, I saw a hammer on the 5 min chart which indicated strength in the stock. Third, I saw that the volume was significantly higher with bullish candles and it was also holding the 1 min 9ema. 

Long/Short: LONG

Entry: 15.83

Risk: 7 cents

S/L: 15.76

How did you feel after taking the trade?: While taking the trade I felt a lot of anxiety especially during the pullback. However, my hotkey automatically sets a range to 3R so I knew that I just needed to trust myself. After taking the trade I felt relived that my plan worked. I need to learn how to trust myself more. 

What did you do well?: One of the things that I believe I did well was setting my stop loss below the previous candle. This allowed me to get to 3R quicker.

What can you improve on?: I need to practice patience and not get anxious when I see a great setup. 

Questions?: What would you have done different if you were in my position? 

[Michael Sanchez 53]

Stock: PLTR

Strategy: N/A

Why did you take the trade?: This was a foolish trade. I took the trade because I saw that the last two 2 min candles were respecting the 1 min 9ema. I anticipated a breakout to the long side, but that did not happen. I messed up by trading based on anticipation and not on confirmation. 

Long/Short: LONG

Entry: 29.11

Risk: 11 cents

S/L: 29.00

How did you feel after taking the trade?: After taking this trade I felt frustrated because I broke my own rules. I should not have gotten in this trade because there was no confirmation that the stock was a long. 

What did you do well?: One thing that I did well, in my opinion, consisted of my resiliency. I was able to come back from this loss with my AAL trade. 

What can you improve on?: I need to improve on my patience and wait for confirmation. I also need to develop a tradebook that fits my style. 

Questions?: How do you guys resist taking a trade that is not an A+ setup?

[A_aron 27]

 

Sanchez,

AAL

I like the heads up play on the AAL. I looks like you had a good entry and an even better exit. And good R:R... Good job.

 

PLTR

Good to see you recognize that you anticipated and didn’t wait for confirmation. It’s a process and you’re not alone.

-Did you consider a 5 min ORB?

Question response:
- Self-discipline. Its not easy but can be done. A lot of people have to work at in, including myself.   
- Try walking away from it or changing the ticker.