Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Recommended Posts

Hi folks,

I will be posting my stock setups that I will be taking from 1:30p to 4p EST M-F. My trading is heavily influenced by Thalestrader, who has left a treasure trove of knowledge here at TL. My stock setups will target gapped stocks (S&P 500 constituents priced over $20) that consolidate and continue in the direction of the gap in the afternoon. Entries will include 123s and pullbacks to the 5 min 21 EMA. Please note I am currently on demo mode.

I believe the keys to success in trading are really just a few simple things:

  • Embracing the probabilistic mindset, which includes taking every valid setup regardless of how I feel about the outcome and not changing strategy based on recent results.
  • Cutting losers quick and letting winners run. 
  • Unconditional self love and acceptance. This is probably the most important thing and the ONLY secret there is. By being ok with making mistakes, being wrong, taking losers, giving self money, one can finally learn to trade without fear. This is probably where most people take the most time to learn (10 years for me).

Here we go. Blue line denotes entry, red line are my stops adjusted to as close to real time as possible. 

Today: -41c, +13c, +0

 

Best,

J

 

 

 

 

20190129 XRX.png

20190129 HOG.png

Edited by jfw215

Share this post


Link to post
Share on other sites

Today was the first full day I started with this method. I learned quite a bit. First, I realized that the criteria I had set for this batch of mechanical trades were too loose and is too subjective to emotional bias. After reviewing the charts, I realized it is much easier to mechanically test by buying intermediate consolidations above the MA followed by new highs. If I miss the initial entry, I can take a secondary entry if at least a box of 4 bars have formed (thank you Darvas). I will then use a volatility stop indicator for exits. Up to two trades per instrument per day. No trade if price is right below R for longs and S for shorts. I'm in the first stage of becoming a consistently profitable trader (as described in Mark Douglas' books). In this stage, I will focus on taking mechanical entries and exits to strengthen awareness in probabilistic mindset. 

Second, I'm surprised looking at the charts that buying new highs actually work on average. Every new high break of the intermediate consolidation gave a nice running start. yet during the actual breakout, my mind was filled with doubt. Fascinating mind. By using volatility stop, I can make this exercise easier for me. The goal is not to focus on making money but focus on mastering the skills of execution without hindrance of memory based mental bias, also known as hope and fear. 

Third, I'm surprised that no shorts triggered today. Looking at the NQ, I can see it was all day up. It's also fascinating how NQ danced around the S/R lines I had drew in from the previous days. I already miss watching NQ but I'm going to stay focused on my stock strategy. 

Fourth, in the afternoon, when NQ rocketed, all of my Nasdaq stock trades made large moves at the same time. Amazon, Apple, ADP. Going forward I'll make sure not to have more than 2 units of risk exposure on at the same time. So only take a new trade after stop have moved up for protection.

Fifth, my discretionary stop movement can really be improved. I'm going to use volatility based stops for now because I'm going to focus on taking entries for now. The actual trading results (in units of risk based on stop size) today would be -.2, -1, -.5, -.5, +1.1, 0, 0, 0 for a total net of -1.1R. 

Tomorrow is going to be great day. I'm looking forward to testing this system and develop consistency in being a successful trader.

Best,

J

 

20190130 AAPL.PNG

20190130 ADP.PNG

20190130 AMZN.PNG

20190130 BA.PNG

20190130 HP.PNG

20190130 KLAC.PNG

20190130 RCL.PNG

20190130 NQ.png

Share this post


Link to post
Share on other sites

Today was the first day on the revised mechanical strategy. At one point I had 7 orders in the books ready to go and market ended up triggering zero trades. I was very calm for most of the part of the session and did not stray from my trading plan. I'm extremely proud of my execution of my trading plan today even though no trades executed. Happy Trading!

Share this post


Link to post
Share on other sites

I was not well prepared today. I felt like I was too distracted with looking at longer term swing strategy at the same time as trading intraday. Ended up having 1 entry on AMZN. There were about 3 other trades that netted in small losses but were not taken. 

20190201 AMZN 5min Post.PNG

20190201 CE 5min Post.PNG

20190201 PWR 5min.PNG

20190201 VLO 5min.PNG

Edited by jfw215

Share this post


Link to post
Share on other sites

Just 1 entry today, Saw the previous day's R flip to S, with room from the gap to run up. Waited 3 mins, price was stalling few pennies below entry. Took me myself out of the market. Good trade.

 

20190204 GD 1min Post.PNG

20190204 GD 5min Pre.PNG

Share this post


Link to post
Share on other sites

I woke up for the opening today and learned quite a bit. The strongest stocks at the open tend to get the most attention and therefore give you a nice pop. I didn't trade them but watched. I ended up taking 5 trades. 4 scratches and 1 went all the way up all day. I can see why this method is really tough on the normal psyche. You have more losses than gains on average and you gotta let the winners run. The result was actually fantastic. 

20190205 AKAM 5min.PNG

20190205 BA 5min.PNG

20190205 BKNG 5min.PNG

20190205 NFLX 5min.PNG

Share this post


Link to post
Share on other sites

First day back from Fiji. 2 small losses today. Nothing much I could have done differently. Good trades, good exits. There was a second trade on ANET (blue line). I skipped that trade by mistake. At the time of entry, I thought it would not work because the first one didn't work. That is a classic prediction error. I cannot know what will happen next. The goal is not to predict but to execute properly. 

20190215 ANET.PNG

20190215 MCO.PNG

Edited by jfw215

Share this post


Link to post
Share on other sites

1 trade today. +137bps. I missed another big runner by 10 seconds. It's all good. posting both charts. I'm glad to be back. I do notice I made a mental error on my exit. I was focusing on how the last 2 trades I had were small losses, which made me want to tighten my stop on this trade just a tad too soon. I then said oh its been 30mins since open so I can tighten my stop now. That is me trying to make up a rule on the spot. Next time this comes to mind, I will actively disconnect the two. Overall, I am feeling pretty good about it. I'm excited that I'm near complete of collecting sample of 20 trades for the first batch. 

 

20190219 FCX 5min.PNG

20190219 ROKU 5min.PNG

Share this post


Link to post
Share on other sites

Today had 3 trades, + 73 bps. The 2nd red dot on ALB was an error, somehow 1 share got executed at the lower price. I started new batch of trades today. The tweak was the exit is now based on trailing exit instead of manually calling it. I found it to be extremely uncomfortable as I sat through each retracement on DPZ. To see profit retrace back to zero or negative is associated with much pain. It feels as if it's a permanent loss. My goal is to execute my trading plan and not trade based on my emotions. I am very proud of the 2nd exit on DPZ for 170bps. I will do my best to continue this work. I do notice I may be giving back a bit too much on my losers, I will not change anything until the next batch of trades. 

5c6ee636c527c_20190221DPZ5min.thumb.PNG.033ee47091c4a7f62f2e523cf86fcf55.PNG

 

20190221 ALB 5min.PNG

Share this post


Link to post
Share on other sites

I traded alot today. 9 trades, 8 losers and BEs, 1 runner that paid for them all. Gotta keep swinging! totaled 240 bps before commission. The first winner on W, I did not count - it was a mistake that led to profit. I felt like a machine, kept pulling the trigger, watch the 1min chart, see it doesn't go anywhere, take my small loss... over and over... then one takes off... Let it run... the whole time I was thinking I hope that the one winner will pay for all the losers. I was tempted to close out the winner early. I had no idea that the payoff distribution for this strategy would be so extreme - 8 tiny losses before hitting a big win. Pays to keep the losses tiny and keep swinging. 

20190222 CAG 5min.PNG

20190222 HST 5min.PNG

20190222 KEYS 5min.PNG

20190222 KHC 5min.PNG

20190222 ROKU 5min.PNG

20190222 SJM 5min.PNG

20190222 W 5min.PNG

20190222 Z 5min.PNG

Share this post


Link to post
Share on other sites

While at the gym today, I remembered that I passed on 2 trades this morning that both turned out to be high runners. I literally had the thought "this one is no good" as if I would know the future.  It's easy to overlook it but this is where the awareness and probabilistic mindset comes into play. I realize I have been trying to filter out losers instead of taking the setups. Next week, I will focus on taking all trades instead of filtering. 

Share this post


Link to post
Share on other sites

Today started out really auspicious. I was in 4 trades that started to go in the direction of my trade. I ended up with 5 BE/ tiny losses that resulted in -38bps. That's less than 1R of actual risk. I feel remarkably good with the way I traded today. I completely followed my entry and exit plans. I let the trades run according to plan. I did notice on WDC as it was coming down to stop me out, I felt pain of loss, thinking I should have moved stop up. I'm becoming very intimate with this feeling of loss as price goes in my favor and comes back to tag me out. It's the price I'm willing to pay to let my winners run. I also notice I was more aligned with stopping myself out early if the trade is showing no progress. In the past, I would give it a bit more room from the perspective of hope. Do not hope price will move in your favor, let the market prove you right immediately or get out. That is the way this strategy works. 

20190225 ALGN.PNG

20190225 GE.PNG

20190225 MU.PNG

20190225 NVDA.PNG

20190225 WDC.PNG

Share this post


Link to post
Share on other sites

5 trades today, all small losses amounting to -136bps. I notice all the trades were going into s/r areas that have failed. I will make an adjustment for this for the next batch. Execution wise, I felt a bit frustrated to see nothing worked for a second day. I notice the feelings of disappointment and associating that this trading style "does not work" entering the mind. This is a normal drawdown. The mind likes to extrapolate into the future based on very recent memory and emotions with the intention of avoiding certain emotions and chasing others. I will stay the course for this batch of trades. I also notice I slept late last night and was easier to get to frustration. 

20190226 DISCA 5min.PNG

20190226 HD 5min.PNG

20190226 JWN 5min.PNG

20190226 MAT 5min.PNG

20190226 SJM 5min.PNG

Share this post


Link to post
Share on other sites

I took 5 trades today for -73 bps. I made a mistake on BBY that I want to further explore. You'll see this as the 2nd long entry. Up to this point over the last 60 trades, I have never allowed myself to take a loss greater than 50bps. This has helped me to keep my net positive. During this trade, I saw price stall after entry on the 1min, instead of tightening stop or closing out, I was hoping for it to work. I also skipped a trade that would have worked well. I thought "this one is no good". I will remember to remind myself that I can't know which ones will work. It was the 1 out of 5 that would have worked lol. 

20190227 BBY 1min.PNG

20190227 BBY 5min.PNG

20190227 DHR 5min.PNG

20190227 MXIM 5min.PNG

20190227 MYL 5min.PNG

20190227 PSA 5min.PNG

20190227 CPB 5min.PNG

Share this post


Link to post
Share on other sites

Here's the actual results for Batch 5. It's slightly above water. The best part is even with 25 roughly BE's just having 2 decent size winners keeps you in the positive. This game is all about impeccable defense.

20190227 Batch 5 Results.PNG

Share this post


Link to post
Share on other sites
Posted (edited)

3/1/19

Took 7 trades for -105 bps gross, avg loss was 15 bps. After the morning was over, I was quite happy with the way I executed today. I was tight on risk control, yes, there was one that ran but that's ok. If I start to loosen on risk control to catch that one, I'll fall back into the trap. As I was driving to work, thoughts of doubt if this method works entered my mind. I reminded myself that I'm looking backwards to make a deduction of the future that I do not know. I will keep consistently execute in this manner. Also, SP is at a major R area on the daily and PA has been very compressed. The nature of this may be attributable to lesser number of my trades working out. Do I know when PA will move in my favor again? Nope. Does it matter? Nope. I am starting to see the genius and simplicity of the underlying principles more and more -- focus on keeping avg loss small and let the winners run. Don't worry about your win rate, that will fluctuate but do keep a running average of the last 100 trades or so. Focus on consistent daily execution and gratitude. It's simple, don't over think it, don't change strategy after losing days. Focus on if the method is sound. 

20190301 XRAY 5min.PNG

20190301 CPRI 5min.PNG

20190301 EBAY 5min.PNG

20190301 GPS 5min.PNG

20190301 LB 5min.PNG

20190301 MU 5min.PNG

Edited by jfw215

Share this post


Link to post
Share on other sites

1 trade today, -.78 bps. I read more of Thales logs over the weekend and realized I was totally not paying attention to S/R when it comes to morning trades. I started to draw them in as soon as the day start. The idea is to wait for price to clear S/R areas before buying/selling. This is quite an intricate task as you're looking at micro price swings as price moves through S/R. I attached a few chart examples from this morning. I'm starting to see that without S/R, I'm basically breaking even. With S/R, I would like to get this to a positive expectancy.

20190304 AMAT 5min.PNG

20190304 DHI 5min.PNG

20190304 DISH 5min.PNG

20190304 ETN 5min.PNG

20190304 FB 5min.PNG

20190304 FTI 5min.PNG

20190304 GE 5min.PNG

20190304 GPS 5min.PNG

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Similar Content

    • By lebnooni
      Hello I am interested in starting day trading, I have been trading the last year in long term investing but lately I have been getting really interested in day trading. I am from Canada and would like some pointers on where to start and what softwares, screeners, platforms etc to use here in Canada. Thanks in advance!
    • By fuqs
      Let's assume I was able to imply dividends from liquid options for the next 3 years, but I want to price an option expiring in the 4rd year from now. How would practitioners normally extrapolate implied dividends? From what i've observed there is a significant risk premium in implied dividends far out (implied divs are sold at discount). Actually the dividend term structure is declining. Therefore probably it makes more sense to extrapolate implied dividend rather than historical growth
    • By ritika1124
      Want to explore world of stock and commodity market
    • By RedJoker81
      Hello, I wish to get into trading(maybe day trading).  But my question is what should I focus on learning, stocks(btw I know about the $25000 limit but I don't know if I am going trade that many times a week) or Forex, atm I plan to start with 500-1000$. My background would be that I have taken an economics class in which one part was stocking as we had to play a stock market game for around 3 months. Also if you are wondering I don't plan to start real trading for at least a few months(I Plan to practice with demo accounts first and find a profitable strategy first). Thanks for the help! 
  • Topics

  • Posts

    • HotForex: Upcoming April 2019 Webinars Part-2. Power your trades with industry tips and knowledge from our forex experts by signing up to our free weekly webinars. Our webinars are designed to improve your FX knowledge and help you hone your trading skills to give you the confidence you need to trade the markets! Whether you are a beginner or an experienced trader, our seasoned market analysts will guide you through key forex strategies and concepts. Every live webinar is followed by a Q&A session, giving you the opportunity to put your questions to the presenter! We are committed to being with you every step of the way in your forex trading career, and by providing valuable forex education, we can give you a solid foundation to begin trading. Registration is FREE but you need to hurry up because places are limited! By joining our webinars you can: *Watch our experts analyse the markets live. *Strengthen your trading skills and knowledge. *Ask questions and get the answers you need. *Access past webinars to refresh your memory. *Get valuable training that is not readily available online. *Discover industry tips and tricks from the pros. Places are limited*, so book your free place now! View our webinar lineup for April 2019 Webinars Part-3: 23 April, 11:00 AM GMT: Live Analysis In this live analysis webinar, our market expert Stuart will analyze forex, commodity and stock markets. Traders of all levels of experience can learn from this opportunity to ask questions about analysis, trading, risk management and future trading setups. In this webinar, you will: * Watch Stuart analyze the markets in real time * Learn how professionals approach their analysis and trading * Get your trading questions answered live Instructor: Andria Pichidi , HotForex’s Analyst  24 April, 11:00 AM GMT: Trading the Continuation Patterns Join Andria as she explains some of the most popular Continuation Patterns that more experienced traders like to use, including Triangles, Wedges, Pennants and Flags. Advance your chart reading with live demonstrations of how to identify each one and what each pattern signals: * Triangles – Symmetrical , Ascending, Descending * Wedges - Rising & Falling * Pennants - Bullish & Bearish Instructor: Andria Pichidi , HotForex’s Analyst  25 April, 12:00 PM GMT: Money Management Strategies Money management is an essential skill for traders. Learn how to manage your capital and risk effectively in this informative webinar with senior trader and forex researcher, Oto. This webinar will cover the key money management concepts all traders should know, such as: * Price action vs. mean reversion in risk management * Setting risk levels in forex * Currency trading dangers      Instructor: Oto , BlueSkyForex 30 April, 11:00 AM: Live Analysis In this live analysis webinar, our market expert Stuart will analyze forex, commodity and stock markets. Traders of all levels of experience can learn from this opportunity to ask questions about analysis, trading, risk management and future trading setups. In this webinar, you will: * Watch Stuart analyze the markets in real time * Learn how professionals approach their analysis and trading * Get your trading questions answered live Instructor: Stuart Cowell , HotForex’s Head Market Analyst If you have any questions, comments or feedback, please do not hesitate to contact our dedicated Customer Support Team via myHotForex, live chat, or by email. Best Regards, The HotForex Support Team *Please Note: Places are limited and we cannot guarantee availability. On the day of the Webinar, make sure to dial in or login on time using the instructions in the confirmation email you receive following registration. When the maximum number of attendees is reached, no further registrants will be able to join.
    • Date : 19th April 2019. MACRO EVENTS & NEWS OF 19th April 2019.FX News Today Wall Street was higher overnight, with the Dow up 0.4% and outperforming on the back of strong retail sales data and better earnings from Travelers and American Express. Core European bourses were mixed, with the DAX up nearly 0.6%, the CAC 40 up 0.3%, and the FTSE slightly underwater. Japan released its March national CPI, which as expected remained well below the 2% BoJ’s target. The overall rose to 0.5% y/y from 0.2%, and the core is at 0.8% from the 0.7% y/y. The Japanese inflation supports once again the BoJ’s large-scale easy monetary policy. The US, Canada, the UK and several other European and Asian markets are closed for Good Friday, with Europe remaining shut for Easter Monday. Only Japan is open from the Asia trading centres. Charts of the DayTechnician’s Corner EURUSD is still trading below the 1.13 level, retracing nearly 23% of yesterday’s losses. The April low of 1.1184, then the March 7 bottom of 1.1177 will be in the cross hairs in the coming sessions if we face a move below 1.1220. GBPUSD has been stable at the upper 1.29 level, still unable to break through 1.30, fluctuating between the 1.3006 and 1.2960, which are Resistance and Support (PP) level respectively. Indicators are giving negative signals. Main Macro Events Today Housing Data (USD, GMT 12:30) – Both Building Permits and Housing Starts are expected to have increased in March, by 1.299M and 1.230M respectively, up from 1.291M and 1.162M in February. Support and Resistance Always trade with strict risk management. Your capital is the single most important aspect of your trading business.Please note that times displayed based on local time zone and are from time of writing this report.Click HERE to access the full HotForex Economic calendar.Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • XRP trading: Still Bearish, Ripple May Bounce Up After Testing a Close Support   Ripple (XRP) Price Analysis – April 16 Regardless of the current green market, XRPUSD bearish sentiment moves in a descending channel with a slow price action towards close support. XRPBTC, on the other hand, has further fallen in a new direction. Still, XRP market is falling.   XRP/USD Market Key Levels: Resistance levels: $0.35, $0.37, $0.39 Support levels: $0.30, $0.28, $0.26   Looking at the medium-term chart, Ripple appeared bearish as price trades within a descending channel in since early April. While sitting at the lower channel, XRPUSD market has been consolidating for the past five days as a swing high is expected at $0.35 resistance level. A further push above the mentioned resistance may resume XRP on a bullish trend.   Meanwhile, a possible swing low could plummet price to $0.3 support and beyond. Evidently, the trend lines are still a defensive line for the bulls and the bears.   Viewing the 4-hours RSI, a gradual buying momentum is compounding as it points upward. More importantly, the 4-hours Stochastic RSI pressure nears overbought territory. A slight drop is likely once the indicator reaches the overbought zone. Nevertheless, XRPUSD market is still respecting a descending channel pattern.   XRP/BTC Market Ripple, as a hedge, is on a downtrend trend. The massive sell-off in early April has led the sellers to more significant downward movement as price faces 6000 SAT low.The coin’s value is dramatically depreciating as a new low is yet to be established. The bearish scenario is now revealed to be strong; following a new purple line.   Since the drop, the 4-hours RSI has positioned trading below the 50 level; currently swinging on the oversold line. A clear breach above the purple trend line could fly price to 6600 SAT resistance and above.   The current 4-hours Stochastic RSI faces the oversold zone; showing an ongoing selling pressure. A long position may switch the Oscillator on an upside trend. At the moment, the sellers are gaining control of the market.     Please note: insidebitcoins.com is not a financial advisor. Do your own research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.   How to trade Bitcoin successfully:  https://insidebitcoins.com/trading/bitcoin       Best cryptos exchanges:  https://insidebitcoins.com/cryptocurrency-exchanges  
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.