Shared by
amd2709BOWS
Max Order Qty 200
Symbol nvgn
Setup orbd
Price Tnd, Agmt flat 1
Support $4.75
Resistance $5.00
Volume low
Stochastics 43flat
News
Concerns, Comments
Order Price $4.78
Stop Loss $5.03
Target Price 4.25
bad trade. should have waited for confirmation.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-12-16 13:11:40 | NVGN | sell | $4.780 | short |
| 2014-12-16 13:46:09 | NVGN | buy | $5.260 | short |
| 2014-12-16 13:46:09 | NVGN | buy | $5.270 | 0 |
Comments
Boloan
2014-12-18 12:14:56
Good stuff Tombro: Dat Sh*t really works!
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If by "orbd" you mean Opening Range Breakdown, I think you need to look in the book for clarity on the setup.
Also, I think in general, from looking at a few of your trades (so I may be wrong on this) your stops seem to be really loose. Take this trade for example, your stop is (if my math is right) over 5% away from your entry. Yikes! I would be happy to make 5%, It's not like I'm trading CANSLIM with these setups.
And I really don't understand why you took your stop 30 minutes later after your stop was hit for a 10% loss...But I can guess, and its only because I've done the same stupid sh-t too!
Enter your stops into your platform. If they get hit, take a deep breath. Maybe later if it looks good, you can re-enter.
Try to come up with little tricks and techniques to make you do the right thing.
As an example, for me I want to take profits too early like everyone else. but I have come upwith what I call aJedi Mind trick to help me stay in longer. If I am long, Ilook to see if the 5 minute bars are making a succession of higher highs. If they are, even tho it would feel really good to close the trade-i sit tite. So what I am saying is... and I am NOT talking trading here...come up with some little technique that helps you do what you really want.
Another example,For me, I need to enter my stop into the platform. If I tried to do mental stops, I would get the "hope" disease when it got hit & "hope" it reversed, which of course most of the time it doesn't. I know that about myself and accept it. No big deal. Maybe someday I'll master mental stops, but right now it's too much mental baggage, especially with trying to learn everything else.
Anyway, hope this helps even in the smallest way...Good luck