journal Mike B. Simulator Video Recaps

[Mike B 624]

October 30th on GE and AMD. Hit Max Daily loss today due to not following my own rules.

Trade-1 FOMO GE Short - I entered this trade simply because of all the bad news that was being reported about the earnings. What I failed to consider was at the open there was the possibility that there would be a large buy off prior to the sell off. When the buy off happened I allowed the trade to go past my stop to a new level. Looking back on the trade I can recall my mind seeing the obvious ABCD pattern on the 1 minute chart, but my short bias prevented me from executing the trade correctly.

Trade - 2 FOMO AMD - I had no reason for entering this trade other than I was looking at the chart and let the indicators dictate the trade. Once I entered I quickly realized I did not have a trade, risk, or profit taking plan, so I exited with a small loss but this put me at my daily max loss. 

The other trades you see on the GE charts were me just playing around in sim releasing the frustration of two terrible trades I executed on a stock that I should have traded better.

Daily max loss met

Tomorrow is my last day in simulator before going live on November 5th. 

[Mike B 624]

Last day of Simulator. Oct 31st 2 trades on AMD. Hit daily profit goal even after being stopped out on the first trade.

Trade 1 - S&R Long from pre-market resistance level. I had a trade plan for a long or a short depending on where the stock went at the open. The stock hit my long entry point and head to my first planned out but fell just short of it. It then reversed and I got stopped out. Happy with the trade as I was willing to pay to see if the cost took off at the open. 

Trade 2 - S&R Short from pre-market support level. - Once I got stopped out I went short at the moving average. This was a rare early entry for me as I mistakenly took my stopped out from trade 1 as my planned entry. I took the first out at 1:1; however, this was earlier than I would have liked. I took my second out where I would have like my first cover at around 17.48. I then covered just above my profit target as I saw the stock beginning to lose momentum. If I would have taken the first out this area should have been my second out and then I could have held the remain to the profit target.

Overall I was happy with trading today. After reviewing my analytical data, I am comfortable transitioning to live trading. I plan on posting the data comparison from my September simulator trading to my October Simulator trading this weekend. A couple of the visual charts are interesting and confirm my decision not to go live this month and do an extra month of simulator.