Shared by
Mance_Trader
Conclusions:
Action:
Bought 1 min HoH just after Price Bounced off Bottom of Triangle $3.8, Stop to Low of Triangle $3.59, FPT $3.95
Scaled out at FPT, Stop to BE
Stop to Low of Current Candle, Stop to Low of Previous Candle
Stopped Out
Analysis:
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-10-23 10:22:10 | SCKT | buy | $3.790 | long |
| 2020-10-23 10:22:10 | SCKT | buy | $3.800 | long |
| 2020-10-23 10:22:14 | SCKT | buy | $3.770 | long |
| 2020-10-23 10:22:14 | SCKT | buy | $3.770 | long |
| 2020-10-23 10:22:14 | SCKT | buy | $3.770 | long |
| 2020-10-23 10:22:15 | SCKT | buy | $3.770 | long |
| 2020-10-23 10:30:17 | SCKT | sell | $3.900 | long |
| 2020-10-23 10:30:18 | SCKT | sell | $3.850 | long |
| 2020-10-23 10:30:18 | SCKT | sell | $3.880 | long |
| 2020-10-23 10:33:45 | SCKT | sell | $3.920 | 0 |
Comments
Mance_Trader
I am training too, all my trades are simulated.
Generally, I trade between 50 and 200 shares. I set my FPT (first price target) at the same time I set my risk (stop), and I usually set my FPT equal to my risk.
When my FPT is reached, I scale out Half of my position, and hold the rest for a valid exit indicator, like a new Low.
I'm still refining my system. Best of luck to you!!
What resources do you use to train yourself?
anilkumardesai
Thanks for the response. I am currently following different youtube resources. Lost a good amount of money so now trading carefully. Everyday is a learning in the market.
SamuelAIsaac
Dont forget every trade you make there is a new learning experience.. Take your time and always trade the same way.. The more you trade the more robotic it becomes.. I saw where you said where you lost money.. Dont let losing money get you down I went to college and that cost me thousands.. Your getting an education each time you make a trade.. Good luck in the future.. and happy trading..
anilkumardesai
Thank you Samuel. Doing trading is the best experience you can get rather than learning through all the theories/videos.
I am trying to mitigate the loss as much as possible, even if that means I dont make good earnings for the day.
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I see that you traded only for few cents, may I know how many shares do you buy in general for such setups? What's your profit taking criteria? I am trying to learn to avoid losses.