Monday, February 29, 2016
Seven Deadly Sins- Pride, Humility, Conviction
Lust Chastity
Gluttony Temperance
Greed Charity/Generosity
Sloth Diligence
Wrath Patience
Envy Kindness
Obviously some of these don't really pertain to DayTrading but i'll go over the ones that i feel affects my thinking while trading.
Greed -
On hearing a remark from someone and the way she said the remark angered me because i knew for a fact she did not understand what i meant by me being greedy. On a 0-10 scale, i rate my greed at 2or3. Greed so far has affected how much profit i could have potentially gained, i have not lost money because of greed but i have lost potential profits. A much more dangerous greed that i see almost everyone makes is the greed of a very excessive or rapacious desire and pursuit of material possessions (Expensive cars, Brand name clothing). This kind of greed i rate a 7 on a 0-10scale. This type of greed is disastrous financially especially when most americans spend more than what they actually can afford/have leading to financial problems/credit card debt. We do need something to motivate us to work hard, it is not greed to reward yourself of material wealth for hard work. However, i believe it is excessive/greed to reward yourself if it is beyond your current capabilities to pay for it causing fights/strained relationships with others. A consequence of greedy activity may be inability to sustain any of the costs or burdens associated with that which has been or is being accumulated, leading to a backfire or destruction, whether of self or more generally.
As far as losses go, due to Syke's/Superman's/InvestorsLive's/successful trader's #1 rule: Cut losses quickly. My losses have been stuck to either the primary plan or the secondary plan i develop to risk a little bit more to see if the trend would change/i.e.. use another support level (which is a bad thing i need to cut out, but this at least gives me an oh shit point. If this point is breached, i get out without hesitation). I only see greed limiting my profit potential atm.
Pride -
My thought's on pride is that you can have pride but you have to acknowledge when you are wrong. Pride is not necessarily a bad thing like most people make it out that it is. Religions have it as a deadly sin but Aristotle and George Bernard Shaw see's pride as a virtue. I believe our thinking needs to be more refined to fully be able to use pride to our advantage. Religions teach humility to counter pride but i think how people were taught by the church tof view humility is also outdated and needs to be refined.
Humility is not a recognition of one's failings, but a rejection of morality. - Ayn Rand
When viewed as a virtue, pride in one's appearance and abilities is known as virtuous pride, greatness of soul or magnanimity, but when viewed as a vice it is often termed vanity or vainglory.
A more refined set of ideas i strong believe in are:
Kaizen (Japanese: means to continuous improvement): For a person to continuously improve themself, they have to acknowledge their faults/mistakes. First step in solving any problem is recognizing that there is one.
https://www.youtube.com/watch?v=VMqcLUqYqrs
Resilience: Instead of humility. Humility leads to obedience, excessive humility leads to excessive obedience which is prone to abuse. This can severely restrict individualism/free thought in my opinion. Humility as it seems from Christianity/Islam can also be viewed as a surrender/to be subjugated which is horrible when one seeks humility towards another human as it's prone to abuse. I say resiliency is better in times of difficulty because it seeks to be equal to whatever "human" force that is seeking to have you subjugated. You should have humility to GOD, but it does not mean you should have humility to the church or your religion, the church is NOT GOD and are a human organization that has the potential to abuse/subjugate it's followers. Ex: Iglesia ni Cristo in the Philippines practices bloc-voting. Mindless zombies with no brains to think for themselves and vote for the appropriate political candidates that benefits them instead of the church leaders. Cardinal Sin in the People Power Movement, has his mindless followers back up Cory Aquino that has very little political experience other than being married to her husband that was an equal to Ferdinand Marcos. State should have little influence on church, but church themselves should have little influence on state. The filipino masses needs to learn to think a little more in order to help themselves.
to be continued
BLOGS, Twitter
http://averagejoedaytradr.blogspot.jp
Ed Martin - From Warrior Trading
http://nikkoricoo.blogspot.jp/
http://derricktrades.blogspot.jp/
http://tradetheticker.blogspot.jp/
"Trading a ticker just because a setup is there unfortunately won't yield profitable results.
The best way to eliminate this problem is to only trade the stocks in play and keep an eye on them throughout the day. Stocks in play I define as having a catalyst for that particular day as well as valid trigger levels on the daily chart. If you abide by these simple criterion you will find your frequency of trading will drastically decrease and your potential for large winners will increase exponentially. Hence, why you see me trade very infrequently but jump on the big movers when the opportunity presents itself.
One thing to note is I never rely on any single indicator to determine my entry on a trade. However, I will use them all in conjunction to determine the direction of the imminent move. What I'm saying here is that I simply would not rely solely on the 9 EMA cross above Vwap for an entry. I personally prefer the price action to be above both the 9 and 20 EMA as well as the Vwap before entering. - Mike from Warrior Trading
to be continued...
Ed Martin - From Warrior Trading
http://nikkoricoo.blogspot.jp/
http://derricktrades.blogspot.jp/
http://tradetheticker.blogspot.jp/
"Trading a ticker just because a setup is there unfortunately won't yield profitable results.
The best way to eliminate this problem is to only trade the stocks in play and keep an eye on them throughout the day. Stocks in play I define as having a catalyst for that particular day as well as valid trigger levels on the daily chart. If you abide by these simple criterion you will find your frequency of trading will drastically decrease and your potential for large winners will increase exponentially. Hence, why you see me trade very infrequently but jump on the big movers when the opportunity presents itself.
One thing to note is I never rely on any single indicator to determine my entry on a trade. However, I will use them all in conjunction to determine the direction of the imminent move. What I'm saying here is that I simply would not rely solely on the 9 EMA cross above Vwap for an entry. I personally prefer the price action to be above both the 9 and 20 EMA as well as the Vwap before entering. - Mike from Warrior Trading
to be continued...
Friday, February 26, 2016
SUNE, CLOW
Did DD on SUNE, 90%+ down off it's high last year.. multiple negative news throughout the years, fundamentals are whack as they have a huge debt blah blah.. on the positive note 30% plus of the float are short so i'll be expecting a good squeeze in the open..
SUNE
Long overnight 1000 SUNE @ 1.71
Plan is to sell half at open, and sell the rest at 3$ if it tests it or sell all within 10mins of the open.
Sold 500 SUNE @ 2.29 08:00:08
Locked in half profits on a lower high in pre-market. I still had doubt's whether i should lock in profits or not but this is another assurance that cutting my risk in half for guaranteed profits is a much much better strategy. Take profits and move on.
Sold 300 SUNE @ 2.4234 09:41:40
Top was at 9:35-9:36 @ 2.77, i shoulda have at least seen the trend change MACD bearish crossover at 9:38 and stopped out at 2.5. I was still a little greedy and should've locked in 1$ per share profits but i wanted it to hit 3. Since i had already locked in half, I was comfortable with seeing if it will hold the spike a bit.
Sold 200 SUNE @ 2.37 09:43:58
Closed myself out completely when it broke below VWAP, sucks that it ended up being the low but I can work on my exits later, there's bigger mistakes to focus on atm.
If I had traded this ideally, I would've
1) Bought full size 2000 shares instead of 1000
2) Sell half at the same point when i did *** +1 did right ***
3) Closed out at 2.7 if was day trading, Closed out at 2.5 if i wanted to let it to test 3.
I missed the top by 30cents... I still had that "hope" mindset and because of it i missed out on locking in 1$/share profits. I AM A TRADER, I need to stop thinking about getting homerun plays and just bat singles.
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In comparison to how i traded 2 weeks ago:
I've significantly changed the way how i control my greed, Aiming less for big gains and instead aiming for consistent profits playing ideal setups instead. What coulda, shoulda, woulda been a $700-$800 gain ended up just over $600.
However, the big thing that killed my possible gain today was the fact that i only took half my normal size due to:
Impatience: Forced 2 trades AGAINST my rules during midday, instead of letting the play come to me, i tried to make the play happen instead.. 2-3hrs into it the market humbled/beat me down and was eventually scared out of my position. Due to my impatiience, i developed a fear and caused me not to go full size in the afternoon.
Fear: What coulda, shoulda, woulda been a $1400-$1600 gain on a full size position ended up just over $600. Funny, I've seen the top traders get scared out by being too early and you really have to experience it yourself to fully understand how it feels instead of just hearing/reading/learning it from someone else.. Being too early in a trade is SCARRRYYYY... I really would just either miss potential profits/miss the play completely than to be in early. This fear would easily be more compounded on short positions. I think fear here is a good thing though, the core problem here was the impatience, if i wasn't early on my trade, i wouldn't have been scared out in the first place and only went half my normal size.
On a side note: I called out on Wednesday that CLOW Breaking down past 0.35 cents would send it too test 0.30 and if it broke below that, it'd crash huge.
This pump was a gimme and i'd easily rate it a 4*. To help me with impatience, i will start using LX21's system of rating plays and i would only take 3*+.. I woul'd've rated my ETSY/ENOC/1st SUNE trades as 1*, SUNE o/n 3*, CLOW 4*. This would prevent me from going in useless/stupid plays.
I'm seriously thinking about just focusing on shorting. I've seen so many earnings winners fail so much and this overall market just SUCKS for being long. ClOW is now trading at 12cents from 35cents EASY EASY 66% Gain. My biggest problem right now is that I need that e-trade account open to short, and prolly just use TD Ameritrade for longs / Learn NASDAQ Shorting. This is going to be a huge change in my strategy and prolly be a good idea to take a week or two off from shorting to prepare myself shifting strategies from a long to a short seller.
SUNE
Long overnight 1000 SUNE @ 1.71
Plan is to sell half at open, and sell the rest at 3$ if it tests it or sell all within 10mins of the open.
Sold 500 SUNE @ 2.29 08:00:08
Locked in half profits on a lower high in pre-market. I still had doubt's whether i should lock in profits or not but this is another assurance that cutting my risk in half for guaranteed profits is a much much better strategy. Take profits and move on.
Sold 300 SUNE @ 2.4234 09:41:40
Top was at 9:35-9:36 @ 2.77, i shoulda have at least seen the trend change MACD bearish crossover at 9:38 and stopped out at 2.5. I was still a little greedy and should've locked in 1$ per share profits but i wanted it to hit 3. Since i had already locked in half, I was comfortable with seeing if it will hold the spike a bit.
Sold 200 SUNE @ 2.37 09:43:58
Closed myself out completely when it broke below VWAP, sucks that it ended up being the low but I can work on my exits later, there's bigger mistakes to focus on atm.
If I had traded this ideally, I would've
1) Bought full size 2000 shares instead of 1000
2) Sell half at the same point when i did *** +1 did right ***
3) Closed out at 2.7 if was day trading, Closed out at 2.5 if i wanted to let it to test 3.
I missed the top by 30cents... I still had that "hope" mindset and because of it i missed out on locking in 1$/share profits. I AM A TRADER, I need to stop thinking about getting homerun plays and just bat singles.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
In comparison to how i traded 2 weeks ago:
I've significantly changed the way how i control my greed, Aiming less for big gains and instead aiming for consistent profits playing ideal setups instead. What coulda, shoulda, woulda been a $700-$800 gain ended up just over $600.
However, the big thing that killed my possible gain today was the fact that i only took half my normal size due to:
Impatience: Forced 2 trades AGAINST my rules during midday, instead of letting the play come to me, i tried to make the play happen instead.. 2-3hrs into it the market humbled/beat me down and was eventually scared out of my position. Due to my impatiience, i developed a fear and caused me not to go full size in the afternoon.
Fear: What coulda, shoulda, woulda been a $1400-$1600 gain on a full size position ended up just over $600. Funny, I've seen the top traders get scared out by being too early and you really have to experience it yourself to fully understand how it feels instead of just hearing/reading/learning it from someone else.. Being too early in a trade is SCARRRYYYY... I really would just either miss potential profits/miss the play completely than to be in early. This fear would easily be more compounded on short positions. I think fear here is a good thing though, the core problem here was the impatience, if i wasn't early on my trade, i wouldn't have been scared out in the first place and only went half my normal size.
On a side note: I called out on Wednesday that CLOW Breaking down past 0.35 cents would send it too test 0.30 and if it broke below that, it'd crash huge.
This pump was a gimme and i'd easily rate it a 4*. To help me with impatience, i will start using LX21's system of rating plays and i would only take 3*+.. I woul'd've rated my ETSY/ENOC/1st SUNE trades as 1*, SUNE o/n 3*, CLOW 4*. This would prevent me from going in useless/stupid plays.
I'm seriously thinking about just focusing on shorting. I've seen so many earnings winners fail so much and this overall market just SUCKS for being long. ClOW is now trading at 12cents from 35cents EASY EASY 66% Gain. My biggest problem right now is that I need that e-trade account open to short, and prolly just use TD Ameritrade for longs / Learn NASDAQ Shorting. This is going to be a huge change in my strategy and prolly be a good idea to take a week or two off from shorting to prepare myself shifting strategies from a long to a short seller.
ENOC, SUNE
Little rant first before i start off... As if i didn't learn enough from wednesday's stupidity.. I entered 2 trades out of boredom in the middle of the day.. Even though my rule is to buy 2-4pm and NEVER go in at lunchtime because it's hard to assess the trend due to the low volume, and you're not certain how the stock's going to react in the afternooon. I ended up getting scared out, one hit my mental stop loss and faked out/recovered. The other bounced off the vwap yet i got scared out anyways like a retard. I was right however in seeing that they were holding their gains, the main problem i felt was that there wasn't enough volume and i have no idea whether it was going to come back in the afternoon.
ENOC
Bought 500 ENOC @ 6.2 10:42:15
Bought it cause i'm a retard and i like to not stick by the rules. Fading volume, entering into midday, not sticking to the plan and buy at 2-4pm on good volume..
Sold 500 ENOC @ 6.052 12:26:41
Got stopped out and still sloppy on executing on my mental loss.
SUNE
Bought 1500 SUNE @ 1.67 11:13:37
Bought it cause i'm a double retard, if one retarded entry midday wasn't enough.. I'll beat it and make two stupid/impatient trades.
Sold 1500 SUNE @ 1.6001 11:46:51
Stupid entry, got scared out cause of low volume midday and unsure of how the afternoon is going to be.
Bought 1000 SUNE @ 1.71 15:47:32
IDEAL TRADE !! Finally My first ***** One this week.... Since i got scared out twice already earlier in teh day i only wen't half the size i normally would've on this trade.
ENOC
Bought 500 ENOC @ 6.2 10:42:15
Bought it cause i'm a retard and i like to not stick by the rules. Fading volume, entering into midday, not sticking to the plan and buy at 2-4pm on good volume..
Sold 500 ENOC @ 6.052 12:26:41
Got stopped out and still sloppy on executing on my mental loss.
SUNE
Bought 1500 SUNE @ 1.67 11:13:37
Bought it cause i'm a double retard, if one retarded entry midday wasn't enough.. I'll beat it and make two stupid/impatient trades.
Sold 1500 SUNE @ 1.6001 11:46:51
Stupid entry, got scared out cause of low volume midday and unsure of how the afternoon is going to be.
Bought 1000 SUNE @ 1.71 15:47:32
IDEAL TRADE !! Finally My first ***** One this week.... Since i got scared out twice already earlier in teh day i only wen't half the size i normally would've on this trade.
Wednesday, February 24, 2016
PATIENCE
Rating the setups
- * Tradable
- ** Good
- *** Great
- **** BEST
- ***** BEST OF THE BEST
Why not trade all of the setups?
The lower rated setups woulda take up most of my time/energy/ and buying power. But would add very little to my bottomline. Over time, i began to realize that majority of my profits were coming in from the 4* and 5* trades even though they were a small minority of my trades. And sometimes by trading the 1* and 2* setups, i would completely miss a 4* or 5* setup. The distraction of having so many trades would cause inferior entries and exits.I realized the opportunity cost was so great that I could make more money by trading less. I wanna trade only the best setups.
“My track record had nothing to do with me being smarter than him, or better than him. It was because i was being very selective,You wanna win at trading? Then only bet when when you know you’re right. The lesson here is don’t trade just to keep busy. I have to constantly fight that urge and i struggle constantly with it like everyone else. It’s hard to stare at numbers all day long and not act. It’s hard to watch people post trades in chatrooms, all day long, and not act. But just because everyone else is buying waffles, means its a good idea.” -LX21
“Trading to keep busy costs you money, you need to be patient. Patient to wait for the best opportunities. Patient to wait for the best entries. And patient when your in a trade, to let it work. Think of it this way, as traders, Our job is to be patient. Most of our time should be spent watching and waiting.” -LX21
“ I just wait until there is money lying in the corner, and all i have to do is go over there and pick it up.” - Jim Rogers
ETSY
Didn't see any plays worth and was gonna open a paper trading account but instead just traded on my real account.. -_- went against my specific rules i laid out 2wks ago..
ETSY
I knew at the buy that this was gonna be a forced trade and away from the sykes strategies.. I was fine with the risk/loss but what i am not fine with was that i didn't even follow my own PERSONAL strategy that i had laid out. Pure speculation play off the charts with a lot of hope. I knew with conviction i shouldn't trade this but i went ahead anyways.
** Next time no ideal plays are in play, I will switch to the paper trading account option to test my strategies from there and instead of my real account.
ADDED 25 Feb 2016:
... I fell asleep before the market open and woke up at around 1pm market time.. felt like no plays were in the day. WATT was a good one cept i was asleep for it, nothing in the PM looked good and ETSY is failing throughout the day as a possible play. I was too antsy, felt like i needed to trade, was without internet for more than a week and was away from the market for 2wks. I was out of touch of the market yet i forced a trade, a trade i normally wouldn't have made. More mistakes yet again and again it was more emotional than the strategy itself.. I can finally see why some of sykes students had gradually shifted to other plays/strategies to keep them preoccupied. Impatience was my top downfall today and slightly less of a greediness.
Things to work on:
- IMPATIENCE- Today's #1 downfall; If i want to test out my own strategies, it will be using a paper trading account. Forced a trade i normally wouldn't have done since it was not an ideal play.
- HOPE/Greed- Even though i technically chased by a ton and almost bought the top, there was 3 opportunities where i could have sold for a small profit/breakeven. After I entered the trade, I found out that my personal strategy using RSI/MACD told me the trend was already broken after I entered, I still ignored my Personal strategy/checklist and "hoped" the stock would maintain the uptrend, After it failing twice, I still "hoped" it would uptrend when in fact it was clearly in a downtrend/support had broken..
- Preparation- I don't think you can ever prepare enough for the market day. However, i'm nowhere near where i want to be as far as preparedness prior to the opening bell. I still have yet to run my own scans and still using sykes/grittani's watchlist to look at stocks.
ETSY
I knew at the buy that this was gonna be a forced trade and away from the sykes strategies.. I was fine with the risk/loss but what i am not fine with was that i didn't even follow my own PERSONAL strategy that i had laid out. Pure speculation play off the charts with a lot of hope. I knew with conviction i shouldn't trade this but i went ahead anyways.
** Next time no ideal plays are in play, I will switch to the paper trading account option to test my strategies from there and instead of my real account.
ADDED 25 Feb 2016:
... I fell asleep before the market open and woke up at around 1pm market time.. felt like no plays were in the day. WATT was a good one cept i was asleep for it, nothing in the PM looked good and ETSY is failing throughout the day as a possible play. I was too antsy, felt like i needed to trade, was without internet for more than a week and was away from the market for 2wks. I was out of touch of the market yet i forced a trade, a trade i normally wouldn't have made. More mistakes yet again and again it was more emotional than the strategy itself.. I can finally see why some of sykes students had gradually shifted to other plays/strategies to keep them preoccupied. Impatience was my top downfall today and slightly less of a greediness.
Things to work on:
- IMPATIENCE- Today's #1 downfall; If i want to test out my own strategies, it will be using a paper trading account. Forced a trade i normally wouldn't have done since it was not an ideal play.
- HOPE/Greed- Even though i technically chased by a ton and almost bought the top, there was 3 opportunities where i could have sold for a small profit/breakeven. After I entered the trade, I found out that my personal strategy using RSI/MACD told me the trend was already broken after I entered, I still ignored my Personal strategy/checklist and "hoped" the stock would maintain the uptrend, After it failing twice, I still "hoped" it would uptrend when in fact it was clearly in a downtrend/support had broken..
- Preparation- I don't think you can ever prepare enough for the market day. However, i'm nowhere near where i want to be as far as preparedness prior to the opening bell. I still have yet to run my own scans and still using sykes/grittani's watchlist to look at stocks.
Tuesday, February 23, 2016
2/9-2/10 TRXC,THST Recap
My last posts were mostly ranting/summarizing. Ideally, i'd like to give a rundown of the trades on a trade by trade basis but it really depends on how much time i really want to give to the blog. I'll be keeping a diary of it off the blog to keep track of it but as far as the blog, i'll post it if i have time.
TRXC
2/9/2016 10:12:02 Bought 175 TRXC @ 3.85
2/9/2016 10:16:15 Bought 825 TRXC @ 3.8995
Bought into it, felt i was chasing and i almost got scared out of the trade when it started to downtrend. However, using RSI gave me the conviction that it was just correcting itself/finding support of a higher low. After i waited out the correction and the higher low was confirmed, The stock kept uptrending.
2/9/2016 13:13:27 Sold 400 TRXC @ 4.3301
Lower high, locked in some profits, in the future i would lock in at least half.
2/9/2016 17:43:46 Sold 600 TRXC @ 3.43
Was headed to bed when i thought i’d open twitter for the first time in months. Saw a dilution deal news come out and i frantically looked through my broker’s manuals on how to do extended hours trading. Was out for a small loss, I would do the trade over again though. If i held on o/n i’d be up but 1)Cut losses quickly here was good discipline.
2/10/2016 08:49:26 Bought 500 TRXC @ 4.01
Cool, bought pre-market ;) .. solid uptrend will sell at 4.4 resistance or 4.8 retest
2/10/2016 9:57:32 Sold 400 TRXC @ 4.3595
Instead of selling at 4.8 retest as planned, got greedy and held on hoping for a breakout. I ignored the Dilution news and obviously the trend failed and started to crack. I was out once my mental stop loss of 4.4 was hit.. Still profitable but greed caused me to deviate from the plan which is a big nono. Stick to the rules…
2/11/2016 9:32:09 Sold 100 TRXC @ 4.09
Due to fat fingers, I did not sell all my shares the previous day like i woulda have liked. Closed out my position at market open and called it a day.
THST
2/9/2016 15:51:36 Bought 500 THST @ 1.68
Bought the dip from 1.93, Felt good on my entry. Plan was to hold o/n and sell at open if no volume or into a morning spike.
2/10/2016 10:02:16 Sold 500 THST @ 1.48
Got greedy and ignored the fact that there was no volume/interest pre-market so i did not sell at market open as planned. Hoped the stock would gain attention and push higher but i got humbled down and it faded like i thought it would. ***HOPE IS NOT A STRATEGY*** I missed some good exits to be slightly up/breakeven cuz i was too focused on TRXC/Hoping it THST would still break out. I got out once it hit my mental stop loss of 1.5
Saturday, February 13, 2016
Algorithms and a HUGE boost to seeing the trends... It's basically feeling like free money now..
Watched Tim G's End of the month assessment of his personal trades.. Taught me how to setup parameters/template on how i can track/reassess my monthly progress.. VERY VERY Important lesson.
So I've taken Tim's Trading style and mixed it with Tim G's as well using RSI from Connor's style. I just started learning more studies/algorithms and it almost seems like free money now since i can sense the stocks trend and possible trend changes exponentially using the algorithms.
As of now, i'll be swing trading for a good bit since i'm under the PDT rule. But once i break out of the PDT, ill be mostly focusing on day trading as it'll be alot less risk on penny stocks. Once i learn Superman's/Martin Shkreli's trading style + learn how to read SEC filings and properly assess a company's value like a CPA.. I'll go heavy on swing trading i'll have more information to utilize to more accurately assess the risk of holding overnight..
WOW !!!!!!!
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Moving Average Convergence Divergence (MACD)
The MACD-Histogram is an indicator of an indicator. In fact, MACD is also an indicator of an indicator. This means that the MACD-Histogram is four steps removed from the price of the underlying security. In other words, it is the fourth derivative of price.
- First derivative: 12-day EMA and 26-day EMA
- Second derivative: MACD (12-day EMA less the 26-day EMA)
- Third derivative: MACD signal line (9-day EMA of MACD)
- Fourth derivative: MACD-Histogram (MACD less MACD signal line)
The base for this indicator is the security's price. It takes four steps to get from the actual price to the MACD-Histogram. Talk about massaging the data. While not necessarily a bad thing, chartists should keep this in mind when analyzing the MACD-Histogram. It is an indicator of an indicator. Therefore, it is designed to anticipate signals in MACD, which in turn is designed to identify changes in the price momentum of the underlying security.
Exponential Moving Average (EMA)
A type of moving average that is similar to a simple moving average, except that more weight is given to the latest data. The exponential moving average is also known as "exponentially weighted moving average".
This type of moving average reacts faster to recent price changes than a simple moving average. The 12- and 26-day EMAs are the most popular short-term averages, and they are used to create indicators like the moving average convergence divergence (MACD) and the percentage price oscillator (PPO). In general, the 50- and 200-day EMAs are used as signals of long-term trends.
The EMA for a series Y may be calculated recursively:
Where:
- The coefficient α represents the degree of weighting decrease, a constant smoothing factor between 0 and 1. A higher α discounts older observations faster.
- Yt is the value at a time period t.
- St is the value of the EMA at any time period t.
S1 is undefined. S1 may be initialized in a number of different ways, most commonly by setting S1 to Y1, though other techniques exist, such as setting S1 to an average of the first 4 or 5 observations. The importance of the S1 initialisations effect on the resultant moving average depends on α; smaller α values make the choice of S1 relatively more important than larger α values, since a higher α discounts older observations faster.
Volume-Weighted-Average (VWAP)
The VWAP calculation is performed by the charting software and displays an overlay on the chart representing the calculations. This display takes the form of a line, similar to other moving averages. How that line is calculated is as follows:
Choose your time frame (tick chart, 1 min, 5 min, etc.)
- Calculate the typical price for the first period (and all periods in the day following). Typical price is attained by taking adding the high, low and close, and dividing by three: (H+L+C)/3
- Multiply this typical price by the volume for that period. This will give us a value called TP*V.
- Keep a running total of the TP*V values, called cumulative TPV. This is attained by continually adding the most recent TPV to the prior values (except for the first period, since there will be no prior value). This figure should always be getting larger as the day progresses.
- Keep a running total of cumulative volume. Do this by continually adding the most recent volume to the prior volume. This number should only get larger as the day progresses.
- Calculate VWAP with your information: cumulative TPV/cumulative volume. This will provide a volume weighted average price for each period and will provide the data to create the flowing line which overlays the price data on the chart.
where:
is Volume Weighted Average Price;
is price of trade 
;
is quantity of trade 
;
is each individual trade that takes place over the defined period of time, excluding cross trades and basket cross trades.
A trading benchmark used especially in pension plans. VWAP is calculated by adding up the dollars traded for every transaction (price multiplied by number of shares traded) and then dividing by the total shares traded for the day.
Relative Strength Index (RSI)
For each trading period an upward change U or downward change D is calculated. Up periods are characterized by the close being higher than the previous close:
Conversely, a down period is characterized by the close being lower than the previous period's close (note that D is nonetheless a positive number),
If the last close is the same as the previous, both U and D are zero. The average U and D are calculated using an n-period smoothed or modified moving average (SMMA or MMA) which is a exponentially smoothed Moving Average with α = 1/period. Some commercial packages, like AIQ, use a standard exponential moving average (EMA) as the average instead of Wilder's SMMA.
Wilder originally formulated the calculation of the moving average as: newval = (prevval * (period - 1) + newdata) / period. This if fully equivalent to the aforementioned exponential smoothing. New data is simply divided by period which is equal to the alpha calculated value of 1/period. Previous average values are modified by (period -1)/period which in effect is period/period - 1/period and finally 1 - 1/period which is 1 - alpha.
The ratio of these averages is the relative strength or relative strength factor:
If the average of D values is zero, then according to the equation, the RS value will approach infinity, so that the resulting RSI, as computed below, will approach 100.
The smoothed moving averages should be appropriately initialized with a simple moving average using the first n values in the price series.
*********************
Wrote down my strategy here but removed it since I wanna keep it to myself for now...
Wednesday, February 10, 2016
10 Feb 2016
Just a quick post for today...
+ i'm reading the charts very well just not sticking to the plan laid out.
- plan is on point BUT i'm greedy and held on too long/not taking profits/not sticking to the plan
- could do more preparation prior to market open
TRXC
Still fuming about the missed potential this morning (Japan Time) but went ahead and got in pre-market at 4.0 with the intent to sell at 4.4 prior close d/t nice uptrend in pre-market... Reached 4.4 and noticed that RSI wasn't waning and a 100k+ buyer keeps getting hammered. If i had more than 1 day trade, this is where i would ideally lock in half my profits like yesterday and let the rest ride for an easy 10%, but since i only had 1 day trade, i sat in for the ride at 4.8 multi-year resistance... 4.8 resistance being tested and I knew with 100% that i was abusing it at 4.4 but i was jst being greedy at a 4.8 breakout... my head told me to close that position in for a 400$ but i held on due to greed playing off the 4.4 resistance as my mental stop loss... stock crashed from 4.8 > 4.4 so fast i didnt even see how the RSI/Resistance was doing since i wasn't paying attention to the chart and on my phone. Once 4.4 hit, i sold immediately and got filled at 4.36 using a market order for the first time. Even worse, I executed the stupid order for 400shares only, left with 100shares and no day trades left, fml..
On a positive note, it's nice being able to see how shorting would work in real-time.. I'm still too scared to short but from the seeing it from the short seller side, once it crashed to 4.4, I knew the chart was broken and it's a short seller's paradise, I watched it tick by tick... I'd short from 4.4 risking off 4.6, within two minutes and I saw very little support on level II from below 4.4 down relative to the ask size, it was only a matter of time.. This is the sweet spot to short at, Within a minute of it cracking 4.4, the chart crashed to 4 and even dipping thru to 3.87.. it held at 4 for a little bit and RSI is slowly resetting to 50 with almost no upward move on the chart, This is the Ideal time again to lock in half the profits and ride the rest cuz the chart for a short seller is still not broken and RSI shows selling is strong.. chart crashed another to 3.4 til bouncing off and consolidating... Paper trading this I would've easily caught 0.40 - 1.00 of a 1.40 crash 8-22% off a 28%ish crash.. the hard part is handling the emotions through the trade.
1200pm EST: ugh.. im supposed to ignore mid day but once everythings slows down, i get so accurate on seeing trend changes/strengths... Cup and handle forming around 4.. THIS STOCK HAS PANICKED TWICE and still has strength to push up ?!?!?!??!!?! RSI is on its side, I feel like its going to break 4. I wouldn't buy the breakout.. two days in a row i've seen breakouts fail in this horrible overall market, It's really best to stick to dip buying. breakout died just past 4 but slowly a mini-cup and handle is forming to breakout past 4.04.. RSI shows stronger strength.. It's a slow tug and war but every now and then a surge of buyers comes in.. I think if it breaks 4.04 and squeeze short sellers its got a shot to 4.2 and consolidate.
1230pm EST: Lulz.. short sellers got squeezed.. feeling unsure if i would've bought the breakout but i know my mind says not to and stick to dips -_-;; sigh... i need to listen to my head more.. I'd rather buy at 4.4 at a chance at R/G .. but only at a dip after it breaks r/g and if today's volume is going to surpass yesterday's volume... I have no daytrades, but i really, really want to buy in if the opportunity arises... I still can't tell if the emotion of wanting in is a good thing or not.. As long as i formulate a plan prior to entering and sticking to the plan i believe it's worth the risk.
1400pm EST: I love RSI, before if looking solely at the chart i'd be scared. But RSI really lets me where the strength of the chart is in conjunction with support/resistance, Time/Sales, Volume, Level II.. The more indicators i use, the more accurate i am vs the traders in the chatroom.
Plan: If,
1) Volume picks up between 2pm-4pm
2) Breaks out 4.4 going red to green on strong volume
3) RSI shows an INCREASE in strength of buyers
4) Level 2 support shows tons of support at 4.4 on a dip after breaking out
Only then will i buy shares.... sheesh.. this prolly the most strictest requirement for indicators i've had but it feels good since i'll be more accurate. I will normally buy anytime between 2-4pm but since i'm out of day trades, i'd be more comfortable buying closer to the close with strength. Also, I'm still unsure of my position size... sigh.. 2 days worth of screwed up trades due to emotion and i really shouldn't go anything higher than adding another 100shares.. but if this hypothesis falls together, i'd be missing out... but then again, the biggest gain here is not the $amount i'll be making but the lesson and discipline i'm acquiring....
Buy 100 shares @ a dip as close to 4.4 as possible with an exit at tomorrow's open depending on how big the anticipated gap..
....... pfft.. i was typing out exits dependant on how well the stock gaps up but in reality i'd already have profits by then.... i'm getting greedy again.....
My exit strategy should flat out be: SELL AT MARKET OPEN.. For the sole reason that i have no daytrades left tomorow and have no control after the market open... Lock in profits tmrw early AM while i still can...
1430PM EST: Quick note on Volume, I've never really known how to use volume well.. other than hey, other traders say higher volume the better.. But now that i think about it.. Stock has been trending up according to RSI/Support/Resistance BUT.. i always thought of it as leaning towards there are more NEW buyers coming in.. but that's not how it feels like the stock is doing.. It feels like there's LESS SELLERS so the price is moving up... It seems like the same thing but now that i'm looking at it, the small differences/details really make the big difference because having more BUYERS is not the same as LESS SELLERS although they can have the same effect on the price action.... Different catalysts but same result so i always thought of them as the same... Hopefully i can study more studies on what volume really is/shows.. this is interesting.. With this new thinking.. I'm definetly not going to buy this even if breaks r/g and dips down to 4.4 unless strong volume accompanies it..
1430PM EST: Imma call it a day.. This stock doesn't exhibit the amount of volume i'd like in the afternoons this whole month so i'd rather focus on the valuable lessons learned today and call it a day. I'm still long 100 @ 4 and it's currently at 4.3 leaving me positive for the day at a measly 25$ (70 if it wasnt for the mysterious 45$ charge on my account).. It's not the 1000$ in my account feeling that i'd like.. but it feels more like i've learned lessons much much more valuable that 1000$ can't compare to. Don't focus on the profits, Focus on managing your risk and the profits will follow.....
THST
This I even admitted to a friend earlier that i shouldn't have chased this/NOT a stock i was watching since it was from the chatroom and i just wanted to jump along for the ride last night due to the earnings report.. the play is a BUY Earnings winners on DIPS ONLY !! yet i bought to chase the breakout.. so nuff said, i was still up overnight, damage control mode. The plan was:
Gap up big = Sell at market open, lock in profits and get out.
Gap up small = If low volume pre-market, sell at open. If good volume, might wait for a spike
Gap down = Sell at Market open and limit losses
What ended up happening was a Gap down + Non-existent volume pre-market and a downtrend. Instead of sticking to the plan and cut losses quickly, I HELD like a greedy idiot, hoping that the market would go up. I acted on how i THINK the market should treat the stock instead of REACTING to how the market is acting on the stock. What should've been a sell at market open for a 25$ gain which is AWESOME considering it didnt do what i wanted.. I held on and justified a risk at 1.5, the prior day's breakout.. oblivious to how the market was treating the stock.. It downtrended of course and cut my losses once it hit my mental stop loss at 1.5, used market order again, filled at 1.48.
Coulda woulda shoulda been 800$ yesterday became a 40$ loss due to greed
Coulda woulda shoulda been a 25$ profit on THST when i was WRONG on my hypothesis, but got greedy and instead lost 100$ (yet TDameritrade charged me 145$ wth..)
Coulda woulda shoulda been up 20% 400$ on TRXC 4>4.8 but got greedy.. One good thing though is that i stuck to my stop loss and was out at 4.4 for a nice 10% gain.. Shitty part is that I fat fingered 400 shares instead of my whole 500share lot... Sometimes the stupid numbers change in the platform without me CHANGING it.. its annoying and so stupid.. Need to double/triple check my orders prior to sending. So 3 day trades / 1 overnight trade later.. I'm actually breakeven on cash yet TONS of real-time lessons/mistakes learned.. Funny, I was so mad at being greedy earlier that i shut down the platform and was calling it a night 2hrs in.. But something reminded me that hey... i messsed up bad, but i gotta reopen the platform again and review where i coulda done better... Resiliency.. It's getting up there alongside Kaizen..
Lessons learned today in order of greatest impact:
1) GREED IS A BITCH, As superman always says, LOCK LOCK LOCK IN Profits. This past two days specially yesterday just made me a firm believer in locking in half my profits.. I need to adapt to not care if i miss out on potential profits cuz i've felt firsthand what it feels to make big gains but let it slip away due to greed.
2) Don't focus on the profits, Focus on managing your risk and the profits will follow.....
3) Need more preparation prior to the market day and have more conviction to stick to the plan and not how I feel.
In an overall market that's down and the majority of people are losing money... I feel really good being in the small percentage that's made money.. albeit 25$, no matter how small it is.. Gotta Sign off the day on a good note...
** Sykes jst released a really good video abouto TRXC which clears up something i've bn thinking on, what really is causing the uptrend? After a crash, yea there's a chance that people are still very bullish on this damn stock.. but after two crashes? in the same day and still uptrending ?? that's when i started to feel unease at my theory and chances are very slim that people are that naive to be bullish on a stock cause that doesn't make sense unless people are very very stupid which definitely is a possibility but not a higher probability than a "SHORT SQUEEZE" !! That makes so much sense.. i've never seen a short squeeze on a NASDAQ Stock much less in real-time !!.. it makes so much more sense why the volume is trickling down yet it's uptrending... This needs to serve as a reminder than i have to look at stocks from both LONG and SHORT to prevent myself from getting trapped by missing minute details.. funny how earlier i noticed that with the lack of volume there really wasn't an increase of buyers... but a LACK of SHORT SELLERS added with the fact that they have to buy to cover... I've been so engrossed that its a cup/handle or ABCD pattern but it didnt make sense what was moving it with a negative catalyst such as a financing, so i just reasoned that there's alot of stupid people buying the stock.... I'm reading technical analysis of the chart great, but i need to work on unfamiliar catalysts such as news and how they affect nasdaqs.. only way to do so is watch more videos, preferably live webinars. Once i'm settled in my next location, i'll be joining the millionaire challenge for sure..
+ i'm reading the charts very well just not sticking to the plan laid out.
- plan is on point BUT i'm greedy and held on too long/not taking profits/not sticking to the plan
- could do more preparation prior to market open
TRXC
Still fuming about the missed potential this morning (Japan Time) but went ahead and got in pre-market at 4.0 with the intent to sell at 4.4 prior close d/t nice uptrend in pre-market... Reached 4.4 and noticed that RSI wasn't waning and a 100k+ buyer keeps getting hammered. If i had more than 1 day trade, this is where i would ideally lock in half my profits like yesterday and let the rest ride for an easy 10%, but since i only had 1 day trade, i sat in for the ride at 4.8 multi-year resistance... 4.8 resistance being tested and I knew with 100% that i was abusing it at 4.4 but i was jst being greedy at a 4.8 breakout... my head told me to close that position in for a 400$ but i held on due to greed playing off the 4.4 resistance as my mental stop loss... stock crashed from 4.8 > 4.4 so fast i didnt even see how the RSI/Resistance was doing since i wasn't paying attention to the chart and on my phone. Once 4.4 hit, i sold immediately and got filled at 4.36 using a market order for the first time. Even worse, I executed the stupid order for 400shares only, left with 100shares and no day trades left, fml..
On a positive note, it's nice being able to see how shorting would work in real-time.. I'm still too scared to short but from the seeing it from the short seller side, once it crashed to 4.4, I knew the chart was broken and it's a short seller's paradise, I watched it tick by tick... I'd short from 4.4 risking off 4.6, within two minutes and I saw very little support on level II from below 4.4 down relative to the ask size, it was only a matter of time.. This is the sweet spot to short at, Within a minute of it cracking 4.4, the chart crashed to 4 and even dipping thru to 3.87.. it held at 4 for a little bit and RSI is slowly resetting to 50 with almost no upward move on the chart, This is the Ideal time again to lock in half the profits and ride the rest cuz the chart for a short seller is still not broken and RSI shows selling is strong.. chart crashed another to 3.4 til bouncing off and consolidating... Paper trading this I would've easily caught 0.40 - 1.00 of a 1.40 crash 8-22% off a 28%ish crash.. the hard part is handling the emotions through the trade.
1200pm EST: ugh.. im supposed to ignore mid day but once everythings slows down, i get so accurate on seeing trend changes/strengths... Cup and handle forming around 4.. THIS STOCK HAS PANICKED TWICE and still has strength to push up ?!?!?!??!!?! RSI is on its side, I feel like its going to break 4. I wouldn't buy the breakout.. two days in a row i've seen breakouts fail in this horrible overall market, It's really best to stick to dip buying. breakout died just past 4 but slowly a mini-cup and handle is forming to breakout past 4.04.. RSI shows stronger strength.. It's a slow tug and war but every now and then a surge of buyers comes in.. I think if it breaks 4.04 and squeeze short sellers its got a shot to 4.2 and consolidate.
1230pm EST: Lulz.. short sellers got squeezed.. feeling unsure if i would've bought the breakout but i know my mind says not to and stick to dips -_-;; sigh... i need to listen to my head more.. I'd rather buy at 4.4 at a chance at R/G .. but only at a dip after it breaks r/g and if today's volume is going to surpass yesterday's volume... I have no daytrades, but i really, really want to buy in if the opportunity arises... I still can't tell if the emotion of wanting in is a good thing or not.. As long as i formulate a plan prior to entering and sticking to the plan i believe it's worth the risk.
1400pm EST: I love RSI, before if looking solely at the chart i'd be scared. But RSI really lets me where the strength of the chart is in conjunction with support/resistance, Time/Sales, Volume, Level II.. The more indicators i use, the more accurate i am vs the traders in the chatroom.
Plan: If,
1) Volume picks up between 2pm-4pm
2) Breaks out 4.4 going red to green on strong volume
3) RSI shows an INCREASE in strength of buyers
4) Level 2 support shows tons of support at 4.4 on a dip after breaking out
Only then will i buy shares.... sheesh.. this prolly the most strictest requirement for indicators i've had but it feels good since i'll be more accurate. I will normally buy anytime between 2-4pm but since i'm out of day trades, i'd be more comfortable buying closer to the close with strength. Also, I'm still unsure of my position size... sigh.. 2 days worth of screwed up trades due to emotion and i really shouldn't go anything higher than adding another 100shares.. but if this hypothesis falls together, i'd be missing out... but then again, the biggest gain here is not the $amount i'll be making but the lesson and discipline i'm acquiring....
Buy 100 shares @ a dip as close to 4.4 as possible with an exit at tomorrow's open depending on how big the anticipated gap..
....... pfft.. i was typing out exits dependant on how well the stock gaps up but in reality i'd already have profits by then.... i'm getting greedy again.....
My exit strategy should flat out be: SELL AT MARKET OPEN.. For the sole reason that i have no daytrades left tomorow and have no control after the market open... Lock in profits tmrw early AM while i still can...
1430PM EST: Quick note on Volume, I've never really known how to use volume well.. other than hey, other traders say higher volume the better.. But now that i think about it.. Stock has been trending up according to RSI/Support/Resistance BUT.. i always thought of it as leaning towards there are more NEW buyers coming in.. but that's not how it feels like the stock is doing.. It feels like there's LESS SELLERS so the price is moving up... It seems like the same thing but now that i'm looking at it, the small differences/details really make the big difference because having more BUYERS is not the same as LESS SELLERS although they can have the same effect on the price action.... Different catalysts but same result so i always thought of them as the same... Hopefully i can study more studies on what volume really is/shows.. this is interesting.. With this new thinking.. I'm definetly not going to buy this even if breaks r/g and dips down to 4.4 unless strong volume accompanies it..
1430PM EST: Imma call it a day.. This stock doesn't exhibit the amount of volume i'd like in the afternoons this whole month so i'd rather focus on the valuable lessons learned today and call it a day. I'm still long 100 @ 4 and it's currently at 4.3 leaving me positive for the day at a measly 25$ (70 if it wasnt for the mysterious 45$ charge on my account).. It's not the 1000$ in my account feeling that i'd like.. but it feels more like i've learned lessons much much more valuable that 1000$ can't compare to. Don't focus on the profits, Focus on managing your risk and the profits will follow.....
THST
This I even admitted to a friend earlier that i shouldn't have chased this/NOT a stock i was watching since it was from the chatroom and i just wanted to jump along for the ride last night due to the earnings report.. the play is a BUY Earnings winners on DIPS ONLY !! yet i bought to chase the breakout.. so nuff said, i was still up overnight, damage control mode. The plan was:
Gap up big = Sell at market open, lock in profits and get out.
Gap up small = If low volume pre-market, sell at open. If good volume, might wait for a spike
Gap down = Sell at Market open and limit losses
What ended up happening was a Gap down + Non-existent volume pre-market and a downtrend. Instead of sticking to the plan and cut losses quickly, I HELD like a greedy idiot, hoping that the market would go up. I acted on how i THINK the market should treat the stock instead of REACTING to how the market is acting on the stock. What should've been a sell at market open for a 25$ gain which is AWESOME considering it didnt do what i wanted.. I held on and justified a risk at 1.5, the prior day's breakout.. oblivious to how the market was treating the stock.. It downtrended of course and cut my losses once it hit my mental stop loss at 1.5, used market order again, filled at 1.48.
Coulda woulda shoulda been 800$ yesterday became a 40$ loss due to greed
Coulda woulda shoulda been a 25$ profit on THST when i was WRONG on my hypothesis, but got greedy and instead lost 100$ (yet TDameritrade charged me 145$ wth..)
Coulda woulda shoulda been up 20% 400$ on TRXC 4>4.8 but got greedy.. One good thing though is that i stuck to my stop loss and was out at 4.4 for a nice 10% gain.. Shitty part is that I fat fingered 400 shares instead of my whole 500share lot... Sometimes the stupid numbers change in the platform without me CHANGING it.. its annoying and so stupid.. Need to double/triple check my orders prior to sending. So 3 day trades / 1 overnight trade later.. I'm actually breakeven on cash yet TONS of real-time lessons/mistakes learned.. Funny, I was so mad at being greedy earlier that i shut down the platform and was calling it a night 2hrs in.. But something reminded me that hey... i messsed up bad, but i gotta reopen the platform again and review where i coulda done better... Resiliency.. It's getting up there alongside Kaizen..
Lessons learned today in order of greatest impact:
1) GREED IS A BITCH, As superman always says, LOCK LOCK LOCK IN Profits. This past two days specially yesterday just made me a firm believer in locking in half my profits.. I need to adapt to not care if i miss out on potential profits cuz i've felt firsthand what it feels to make big gains but let it slip away due to greed.
2) Don't focus on the profits, Focus on managing your risk and the profits will follow.....
3) Need more preparation prior to the market day and have more conviction to stick to the plan and not how I feel.
In an overall market that's down and the majority of people are losing money... I feel really good being in the small percentage that's made money.. albeit 25$, no matter how small it is.. Gotta Sign off the day on a good note...
** Sykes jst released a really good video abouto TRXC which clears up something i've bn thinking on, what really is causing the uptrend? After a crash, yea there's a chance that people are still very bullish on this damn stock.. but after two crashes? in the same day and still uptrending ?? that's when i started to feel unease at my theory and chances are very slim that people are that naive to be bullish on a stock cause that doesn't make sense unless people are very very stupid which definitely is a possibility but not a higher probability than a "SHORT SQUEEZE" !! That makes so much sense.. i've never seen a short squeeze on a NASDAQ Stock much less in real-time !!.. it makes so much more sense why the volume is trickling down yet it's uptrending... This needs to serve as a reminder than i have to look at stocks from both LONG and SHORT to prevent myself from getting trapped by missing minute details.. funny how earlier i noticed that with the lack of volume there really wasn't an increase of buyers... but a LACK of SHORT SELLERS added with the fact that they have to buy to cover... I've been so engrossed that its a cup/handle or ABCD pattern but it didnt make sense what was moving it with a negative catalyst such as a financing, so i just reasoned that there's alot of stupid people buying the stock.... I'm reading technical analysis of the chart great, but i need to work on unfamiliar catalysts such as news and how they affect nasdaqs.. only way to do so is watch more videos, preferably live webinars. Once i'm settled in my next location, i'll be joining the millionaire challenge for sure..
Tuesday, February 9, 2016
0713 Tokyo time / 1713 EST... Was on my bed bout to head to sleep since i've got work at 1300... Opened up my twitter that i haven't logged in for months to set it up for stock alerts from guys i follow.. TRXC biotech with positive earnings + buyout rumour from johnson and johnson released that it was gonna be diluting $4.35million its stock at a price of 3.39.. I frantically read thru the filing and tried at least 10 times to get out afterhours but spent another 15mins reading up my broker's manuals learning how to execute an after hours trade.... by the time i executed, i wiped all my days earnings amounting to 800$.. soo salty... talk about perfect catalysts and the 1% chance hits you... i'm still breakeven with THST, will prolly sell at market open at a gap up and reassess how i can be prepared for the market better as well as learning all the tools at my disposal... ugh....
1st Trading Day
** Inserted **
Monday i had actually prepared and setup for the market day and babysat for the whole day. There was no ideal plays i was comfortable with so i sat it out... Looking back i hated that i wasted a whole day.. Fast forward to feb 25 when i became impatient and forced a trade, Sitting the whole day out and not making a trade/staying in cash was the best position to have been in....
Had both of sykes/grittani's watchlist on hand. only prepared/researched the watchlist 1hr prior to opening and didn't get the chance to scan pre-market/market open. ** Need to work on preparing for the market day **. Missed alot of the charts, too many charts up on my monitor and not fast enough/no plans set for most of them. Finally focused on TRXC as a potential dip buy, Goal was to dip buy y@ 3.7, bought at 3.9 chasing it due to fear of missing out. Trading more like Tim G for nasdaqs on this one, set risk at 3.8 but was a bad initial assessment due to it not proving itself as support yet. held thru a dip to 3.75 which was a higher low. RSI learned from Connor's DVD helped me stay with my plan and not get shaken out of the trade. Held as long as i could tell that the trend is holding. From the chart alone, at multiple times it seems that the tend is not holding but with the RSI, it gives a better look at where the strength really is. Tim G's way of lessening his risk by moving up support levels helps ALOT as long as i really give support levels time to prove themselves... 4.4 held as resistance and held thru a dip that tested 4.15 which was my support level but it was a 25cent dip that really scared me but i held thru my plan and the RSI still showed as an uptrend. 4.15 grinded all the way up to 3.37 and finally after a long ass hour sold close to half my shares to lock-in profits. ** i'm really glad that this stock is a nasdaq and during mid-day (which i tell myself not to get into since its so slow/non-volatile) but it helped vs being in a OTC since it gave me the time to think out my thoughts/plan. I really need to have a plan setup prior to the market open if i plan to trade OTC because of how fast the moves are compared to nasdaqs. I feel really good that i've locked in profits, hat's off to Superman/Tim.G.. You can't go broke locking in profits, I really had to resist the urge to make it bigger, but it really is about risk management especially once your ahead. I need to adjust to lock-in half the shares faster that way i can have more risk to let the rest of the shares ride. Waiting on 2pm est to hit to see more volume.. The stock is currently going in a higher lows, lower highs channel, ** As much as i'd like to see the stock go up, I'm really fighting to keep remembering that it's not what i think of how the stock should act, but instead REACT to how the MARKET acts on the stock. It's not about what i think that counts, it's what the market thinks that counts. Humble myself or the market will humble me. Downtrend til 4.2 and im fine keeping my support level at 4.15 due to not feeling like there's enough volume yet, gonna wait more til 3pm to see how the stock acts/330pm to see a clear trend. I'm hoping to hold o/n if it closes near it's highs/doesn't break 4.15 in a overall down market, what more if the market opens green tomorrow? Hopinig for a gap-up play/spike.. if i hold o/n... it's gapped up every day the last 5 days however red on the day 3/5.. last few times it's spiked in the year was followed by another green day so i'm hoping for another gap-up/sell at open if the gap-up is alot or sell into a spike if a small gap-up to this multi-month breakout. this 180k seller is at 4.40 still.. Unsure of really what to do, but this is gonna be speculative from here..1453TS: RSI dropped to 50 while staying above 4.3 which is a VERY good sign.. So many people sold with the stock barely moving from the high.. Looking good so far.. 1456TS: RSI at 38 and STILL at 4.3.. cracked 4.3 for a sec but gonna see which support level holds.. the higher it is from 4.15 the better.. numerous support levels at 4.15, 4.2, 4.25, 4.3 but the big ones im comfortable risking are 4.2 and 4.15..
1540TS: the chatroom alerted earnings on THST breakout at 1.5.. chased a lil bit at 1.68 bought on a dip from 1.9.. plan is to hold o/n 1.6 or 1.5 risk and sell half at 2 and ride the rest or depends on how the market opens tmrw / news afterhours - buy on previous day hod.
I'm an idiot for holding 2 stocks o/n .. FML i really have to prepare alot for tmrw and tread carefully cuz i know im pushing my current capabilities..
Monday i had actually prepared and setup for the market day and babysat for the whole day. There was no ideal plays i was comfortable with so i sat it out... Looking back i hated that i wasted a whole day.. Fast forward to feb 25 when i became impatient and forced a trade, Sitting the whole day out and not making a trade/staying in cash was the best position to have been in....
Had both of sykes/grittani's watchlist on hand. only prepared/researched the watchlist 1hr prior to opening and didn't get the chance to scan pre-market/market open. ** Need to work on preparing for the market day **. Missed alot of the charts, too many charts up on my monitor and not fast enough/no plans set for most of them. Finally focused on TRXC as a potential dip buy, Goal was to dip buy y@ 3.7, bought at 3.9 chasing it due to fear of missing out. Trading more like Tim G for nasdaqs on this one, set risk at 3.8 but was a bad initial assessment due to it not proving itself as support yet. held thru a dip to 3.75 which was a higher low. RSI learned from Connor's DVD helped me stay with my plan and not get shaken out of the trade. Held as long as i could tell that the trend is holding. From the chart alone, at multiple times it seems that the tend is not holding but with the RSI, it gives a better look at where the strength really is. Tim G's way of lessening his risk by moving up support levels helps ALOT as long as i really give support levels time to prove themselves... 4.4 held as resistance and held thru a dip that tested 4.15 which was my support level but it was a 25cent dip that really scared me but i held thru my plan and the RSI still showed as an uptrend. 4.15 grinded all the way up to 3.37 and finally after a long ass hour sold close to half my shares to lock-in profits. ** i'm really glad that this stock is a nasdaq and during mid-day (which i tell myself not to get into since its so slow/non-volatile) but it helped vs being in a OTC since it gave me the time to think out my thoughts/plan. I really need to have a plan setup prior to the market open if i plan to trade OTC because of how fast the moves are compared to nasdaqs. I feel really good that i've locked in profits, hat's off to Superman/Tim.G.. You can't go broke locking in profits, I really had to resist the urge to make it bigger, but it really is about risk management especially once your ahead. I need to adjust to lock-in half the shares faster that way i can have more risk to let the rest of the shares ride. Waiting on 2pm est to hit to see more volume.. The stock is currently going in a higher lows, lower highs channel, ** As much as i'd like to see the stock go up, I'm really fighting to keep remembering that it's not what i think of how the stock should act, but instead REACT to how the MARKET acts on the stock. It's not about what i think that counts, it's what the market thinks that counts. Humble myself or the market will humble me. Downtrend til 4.2 and im fine keeping my support level at 4.15 due to not feeling like there's enough volume yet, gonna wait more til 3pm to see how the stock acts/330pm to see a clear trend. I'm hoping to hold o/n if it closes near it's highs/doesn't break 4.15 in a overall down market, what more if the market opens green tomorrow? Hopinig for a gap-up play/spike.. if i hold o/n... it's gapped up every day the last 5 days however red on the day 3/5.. last few times it's spiked in the year was followed by another green day so i'm hoping for another gap-up/sell at open if the gap-up is alot or sell into a spike if a small gap-up to this multi-month breakout. this 180k seller is at 4.40 still.. Unsure of really what to do, but this is gonna be speculative from here..1453TS: RSI dropped to 50 while staying above 4.3 which is a VERY good sign.. So many people sold with the stock barely moving from the high.. Looking good so far.. 1456TS: RSI at 38 and STILL at 4.3.. cracked 4.3 for a sec but gonna see which support level holds.. the higher it is from 4.15 the better.. numerous support levels at 4.15, 4.2, 4.25, 4.3 but the big ones im comfortable risking are 4.2 and 4.15..
1540TS: the chatroom alerted earnings on THST breakout at 1.5.. chased a lil bit at 1.68 bought on a dip from 1.9.. plan is to hold o/n 1.6 or 1.5 risk and sell half at 2 and ride the rest or depends on how the market opens tmrw / news afterhours - buy on previous day hod.
I'm an idiot for holding 2 stocks o/n .. FML i really have to prepare alot for tmrw and tread carefully cuz i know im pushing my current capabilities..
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