My Trading Stats (Live)

[nandoo89 19]

Thanks for the recap Nas,

Like we discussed before $NIO and $PBR never really offered a good range to justify any of the trades if you are trading low floats, but if we look into the technical aspect we can see some goods and bad.

$PBR  Great short on the ORB and below the double bottom at 15.39$. Entry was good, but could've been better right at the low of the previous candle or even back at the "double top" that actually failed to make new highs. (Been a perfectionist here, don't mind me). Would be great if you can post the 5m chart as well next time.

$PBR reversal was a great trade, really good, besides the exit where you bailed too early. I often tell people to keep the stops tight and cut losses early, but there are a few things to consider at this trade. First you got a good entry and on a very clean setup above vwap and a "bullflag". Your exit should've been below the vwap, now was support or at worst the low of entry candle. Secondly, the nature of $PBR. This thing dosent move much, has millions of float so the max your really risking there was .6 cents. I would say hold a bit longer ONLY when the float is high. But on this specific case you have no reason to bail. 3 trade you FOMOed, nothing there at that point maybe, later when it conso a bit.

 

$NIO first trade FOMOed, cant see a F.A set up there. Again, would be nice to have the 5m chart so we can compare it better. Second and fourth trades on $NIO were very valid, both after a decent move and PB creating a bull flag and well defined risk, its all interesting to wait for a pb, even if a micro one on big moves. Great execution on the 1st but very poor on the 4th, maybe sell 3/4 when profit is decent. 1st and 3rd trades, there's no technical backup there. Avoid it and focus only on clean setup like 2 and 4.

On 1 you FOMOed and on 3 there's nothing, a hint of that is the lower highs trend.

 

Great trades on the good set ups and even better, self control and keeping loss small. When market dosen't offer you anything, dont trade. stick to your niche/ strength. You can lose money on good days/ set up, but you will lose more when you trade and should have actually sit on the side lines.

 

The most important thing to do you did, which is the recap, journal, log and the work after hours. Thats how you get better.

 

Keep it up.

 

Best,

Fernando.

[nassarsyed 82]

23 minutes ago, nandoo89 said:

Thanks for the recap Nas,

Like we discussed before $NIO and $PBR never really offered a good range to justify any of the trades if you are trading low floats, but if we look into the technical aspect we can see some goods and bad.

$PBR  Great short on the ORB and below the double bottom at 15.39$. Entry was good, but could've been better right at the low of the previous candle or even back at the "double top" that actually failed to make new highs. (Been a perfectionist here, don't mind me). Would be great if you can post the 5m chart as well next time.

$PBR reversal was a great trade, really good, besides the exit where you bailed too early. I often tell people to keep the stops tight and cut losses early, but there are a few things to consider at this trade. First you got a good entry and on a very clean setup above vwap and a "bullflag". Your exit should've been below the vwap, now was support or at worst the low of entry candle. Secondly, the nature of $PBR. This thing dosent move much, has millions of float so the max your really risking there was .6 cents. I would say hold a bit longer ONLY when the float is high. But on this specific case you have no reason to bail. 3 trade you FOMOed, nothing there at that point maybe, later when it conso a bit.

 

$NIO first trade FOMOed, cant see a F.A set up there. Again, would be nice to have the 5m chart so we can compare it better. Second and fourth trades on $NIO were very valid, both after a decent move and PB creating a bull flag and well defined risk, its all interesting to wait for a pb, even if a micro one on big moves. Great execution on the 1st but very poor on the 4th, maybe sell 3/4 when profit is decent. 1st and 3rd trades, there's no technical backup there. Avoid it and focus only on clean setup like 2 and 4.

On 1 you FOMOed and on 3 there's nothing, a hint of that is the lower highs trend.

 

Great trades on the good set ups and even better, self control and keeping loss small. When market dosen't offer you anything, dont trade. stick to your niche/ strength. You can lose money on good days/ set up, but you will lose more when you trade and should have actually sit on the side lines.

 

The most important thing to do you did, which is the recap, journal, log and the work after hours. Thats how you get better.

 

Keep it up.

 

Best,

Fernando.

Thanks @nandoo89 Fernando!

[nassarsyed 82]

I had a really bad day today..., down $1k. started with a large loss ($230) on a stupid chase and spiraled downwards..., Revenge took over, FOMO, greed, Fear, Over-trading, Chasing everything. 

I feel bummed. This is the worst day.. of recent. For the week I am down like $752 net of commissions. I guess with Low Floats this happens, but this was fully and utterly self inflicted and I take ownership of it.

I NEED TO RESPECT MAX LOSS, the -230 after a +20 on the day was my sign to walk away, but since I had a loss yesterday as well, this for me. 

I will own it - I have the desire to be right and straight away start earning an income, I guess that wont work. it will take its dear time. 

Yesterday I was down 20 and said i needed to walk away, i should have....

 

[Brendon 146]

Hey Nassar! I almost took the exact same trade on $NIO with you, reason I didn't is because I have been burned on trying to catch those reversals. Rob H has solid experience with these as well. We must wait for more confirmation, reversals by nature tend to fail a lot more than flag setups imo. I remember Fernando saying he likes to see at least one or two 5-min candles consolidate then have a new 5 minute high be made on higher volume before taking a reversal. (the volume on $NIO was quite decent @ 10:45, but that was just one indicator) After I ignored his suggestions I paid the price for it. There is no risk in waiting for more confirmation but a lot of risk when you force a premature trade. Ideally, I like to also have the moving averages pierced/closed above as well or that can be a first exit target i.e 9ema then 20ema if they are far away. AMD had a similar bull trap today as well Rob pointed out. If you can try to do some video sim recaps and post a link to your google drive here, it would be a little easier to follow your entries and exits with your other trades.

 

-B.   

[nandoo89 19]

Thanks for the recap Nas,

 

First of all thanks for the honesty and the diligent work you been putting. Days like days will happen but is up to you to make sure you learn from it, the difference from a good and a bad trader is the ability to not make the same mistakes twice.

A well defined max loss for the day is a must, so you dont make it worst trying to make up for your initial loss. 

!!FOLLOW YOUR RULES!!

Into the trades.

Besides ASTC around 9:38and entry around 3.48$ for the break of half dollar and pb on the flag I cant see any other clean setup honestly, even than was a bit choppy.

 

$NVCN:

If you will trade PM highs break you need to scalp faster, have HK on the keyboard and aim for less profit;maybe 10.c? The reason why I dont trade this set up is that there is no clear risk and reward, its not defined at all and it haven't shaken up yet too see which direction is going, its literally 50/50. You could have scalped that move for a couple of cents but the risk involved its too great for me to even consider it, thats why I deleted from my playbook. A PB is almost mandatory in any trade; keep that in mind, but if you want to keep this set up maybe consider a faster execution, that will not be your "trade of the day" but it can be a small scalp to give you cushion.

All other trades on $NVCN were pointless, there was never a higher low and higher highs for a reversal to be consider.

IMPORTANT POINTERS THAT APPLY TO ALL TRADES OF TODAY:

Reversal trades work better on higher floats and mid floats

Low floats set up to the long side need to be above all resistance levels; daily, previous close; and specially VWAP. Of course thats a overall look to it but we dont want anything caping the MOMO.

$NIO:

The idea was good, actually really good. But lets break down what you want to look for on a reversal:

We need to identify a level where the reversal would start. The previous LOD was where the next support level was and thats where we should start paying attention to it. If it bounces back from there and makes a decent New High we should still wait to see if it will make a new higher low and than from that point on take a starter; around 11:00am with a stop at LOD. 1st target at pole high and second at EMAS or vwap depending how realistic it is, and thats exactly what happened. Again, if you want to trade reversals you need to kill your "low float emotions" and switch to a longer term mindset. I will try to do a reversal strategy breakdown soon for our members into more details.

Good idea, just need to refine the strategy and mindset for that play.

$IDT FOMO chase and desperate short.

IDT actually offered a good entry on a ABCD pattern around 9:53 and a confirmation on the 5m chart bullflag. Let me tell you something right now, its better to not make money than to lose money, so stop chasing a huge move. you might be lucky and make money once or twice if the thing keeps going but thats not trading, thats gambling. After the pb happened it offered a safer opt to get in.  Also the daily Vol was prob not enough just by looking at the charts. Only A+ setups.

$ASTC

Good chart, but bad timing. Once again, chased a bit. Play close attention to the volume profile on the 1m chart. First move we had decent vol and a very shallow volume on the pullback, after that we had a crescent volume as we make a 1st candle to make a new high. Thats where you get in at 9:38 - Pb held the vwap sort of, volume came in on the break and we have a ascending volume pattern. Maybe 10c. there would be great.

$ANBEV

PM trade, I dont recommend PM trades at all.

 

We should be grateful for days like this so we can learn. Dont fell bad about it, we all have been there. Lets learn form it.

Key concepts for today

DO NOT CHASE

PULLBACK

MAX LOSS

REFINE AND ELIMINATE SOME PLAYS.

Best regards,

Fernando.

[Meirlandau10 13]

@nassarsyed,I love the way you post every last thing,great work ethic. I’m trying to emulate your hard work and work ethic. As far as your loss,I’m sorry to see that happened ,days like this is part of the game.

[nassarsyed 82]

13 hours ago, Meirlandau10 said:

@nassarsyed,I love the way you post every last thing,great work ethic. I’m trying to emulate your hard work and work ethic. As far as your loss,I’m sorry to see that happened ,days like this is part of the game.

Thanks Bro! I am thankful to all the folks who came to support me..!

[nassarsyed 82]

Took a break for trading, was watching, only AMRN setup today, would buy on break of 17.68 break of last PM High after micro-pullback. Nice Pop. DID NOT TRADE.

This was my class ic 

[Abiel 475]

@nassarsyed ... we need to keep our mindset on check on / after winning days / streaks too... overconfidence is a common pattern on winning streaks that leads to loses, often bigger than winners. Good luck man.

[nassarsyed 82]

22 hours ago, Abiel said:

@nassarsyed ... we need to keep our mindset on check on / after winning days / streaks too... overconfidence is a common pattern on winning streaks that leads to loses, often bigger than winners. Good luck man.

Thanks Bro. Monday will be the start of anew week!

[nassarsyed 82]

After a beak, I am going live again tomorrow!!, will post progress

[Meirlandau10 13]

Nassar,all the best. Good luck. I’m looking forward to your recaps.

[nassarsyed 82]

 Actually got stopped out today (Automatic Daily stop at $250.00) -$260 commissions were $21so about -$280

I made several mistakes

1. AMD wrong long to start on a downtrend, paid the price
2. Exited YNDX quickly
3. Averaged down and did not scale out properly

One thing I need to figure out is if a 1% daily max loss is too tight. Or should it be per trade?, I will ask Andrew

Andrew - I got stopped out today at $250 based on a $25k account. I could not take anymore trades because of automatic stop.

 

QQ - is this a good idea to have a daily stop? - and is 1% a day a reasonable target? I am trading like a 1000 shares on AMD on a typical trade.

 

While it protects me, it also does not give me oppty to recover. I called IB twice and hung up as I wanted to honor my rules.

 

Anyways, all 3 for 3 losers, so I would have exited based on 3 strike rule anyways.

 

One more thing, the 3rd AMD trade. I did make $80 on half exit but than stupidly ruled and I added to the position 500, than I got stopped giving me a net loss of $50 hmmmmm.... so i lost $130...

 

learnings while at this stage, 

- make sure both charts align on a trend and you respect the HH/LL or LH/LL rule..

- Let stocks run...

- Don't get into a stock you are unfamiliar, I was following AMD than jumped in YNDX as a FOMO . Not good....

- Don't add, scale out and than respect B/E for balance

 

 

Edited October 22, 2018 by nassarsyed

[nassarsyed 82]

Traders Journal Oct 22nd, 2018

Kind of a mixed day for me. I gaged myself on 3 things:

1) Entries 2) Risk Management 3) Trade Management

Entries

I don't see any serious problem on the entries, even the first AMD, although I could/should have waited for reversal confirmation and going with the trend. Stopped out well. The second one was also a good entry short on YNDX. The last on AMD was also good, it moved in the right direction. I could have caught it earlier when it broke down VWAP but I fumbled as I exited the AMD Long at Stop so the Shares box in DAS was empty and I had to refill it.

Risk Management

Did well on this front, I got stopped out on max loss set with IB at $250, the platform shut me down from taking new trades. I called them and was hung up while on hold. Good I did not increase the limit... This worked well, I honored a rule. Having a tight stop like $250 also encourages me now to be more selective on trades....

Trade Management

This I did poorly on. YNDX was a good short, I cut it too soon..., I need to make my own decisive decisions. AMD 2nd play, I took half off than added before being stopped, I should not have added at this early stage of my going live. 2 of the 3 plays could have been profitable had I followed exit criteria rules.

Tomorrow, rather than increase my daily Stop loss, I will reduce my share size exposure enabling me to take more trades. My target now is 100 - 200 a day (0.5 - 1.0%).... 
I need to be more picky. ORBs are working well, I missed them. I am staying away from low floats till I have at least $1500 cushion... New target size is 500 shares

Tomorrow is another day!! objective is to end green or as tiny red as possible this week.

@Carlos M.

[nassarsyed 82]

Some recover today..., made +$213 but over traded. Down -$42 without commissions for the week..., Down -$130 for the week with commissions...

I did over trade but walked away, my target again is just 0.5 - 1.0% for the day. I also avoided my max blowout automatic freeze/stop of $250 today.

The issue I am having that again this week..., all my money was made on Low Floats, but I want to learn to trade Mid Floats due to account size..., AMD has been consistently killing me this week especially on the short side may avoid it altogether.

Will post details in my nightly Traders Journal here.