Shared by
Mance_Trader
Held Properly, didn't get scared and sell early, I waited for a proper exit indicator
Might have sold sooner after the pullback to a lower low, but the stock was halted just before I exited
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-08-19 09:37:20 | BDR | buy | $2.110 | long |
| 2020-08-19 09:37:20 | BDR | buy | $2.100 | long |
| 2020-08-19 09:37:21 | BDR | buy | $2.110 | long |
| 2020-08-19 09:37:21 | BDR | buy | $2.110 | long |
| 2020-08-19 09:37:41 | BDR | sell | $2.280 | long |
| 2020-08-19 09:37:42 | BDR | sell | $2.260 | long |
| 2020-08-19 09:44:06 | BDR | sell | $2.690 | long |
| 2020-08-19 09:50:06 | BDR | sell | $2.590 | 0 |
Comments
Mance_Trader
@rando - Thanks, and no problem. I entered this trade because BDR looked good premarket, it was gapping up, and was consolidating around the PM (premarket) high, coupled with he fact that it had a nice, low volume pullback a few minutes in.
I bought the first candle to make a new high (vs the previous one), that was my entry, in fact, that is usually what I look for in an entry.
As for an exit, I usually wait for a new low (vs a previous candle) to be created on either the 1 min or the 5 min chart. These are standard Momentum Trading rules.
I'm actually new too, I started paper trading in late April. If you're interested in learning more about Momentum and Gap & Go Trading, I recommend reading "How to Day Trade" by Warrior Trading.
You can get the book for free by doing a Google search for:
"How to Day Trade" filetype:pdf
Good Luck!!
randomidk
@Mance - thank you for getting back to me! I will check it out. I did do some paper trading about a month ago so I'm still really new. I wish I had started looking back in April but either way.
I'll definitely look into the book and article. I have seen his YouTube channel but the content to review will be helpful.
Best of luck to you too!
@Rando, for sure man, I hope my commentary helps in some way. Personally, I really like the teaching style of Warrior Trading, but I'm not interested in paying for their courses right now, especially with their book available for free online.
By the way, I tried to find their book yesterday with the prompt I gave you, and I couldn't find it on Google, but it is out there. Just keep digging.
In fact, here is a link to one of their similar pieces. You can actually use this link to get basically the whole course. Just change the "Class1" in the URL to "Class2", then "Class3", etc, when you're ready to move on. -- Still try to get "How to Day Trade", it's easier b/c its all in one place.
LINK:
https://media.warriortrading.com/2014/09/WarriorTrading-DayTradingCourse-Class1.pdf
Don't worry about the past (starting in April). You start when you start, you will do fine if you stick with it.
Best of luck to you too!
randomidk
@Mance, I'll look for it for the book but thanks for sharing the link man! Much appreciated.
Got a bit of reading to do but yes all worth it in time.
Take care.
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Looks like an awesome day, congratulations! Would you be willing to share what you look for on entries and exits? I was in on this but had my stop and sells in place but took it too early on the sell and so my profits could of been greater. I'm new to day trading and trading under PDT so making use of my 3 trades per 5 rolling calendar days is essential.