Shared by
apache2a
Not sure what my reasoning was on this one but I ended up with a position about 1/3 my regular stop so it wasn't much of a winner, but it ended green. Was a good trade, just position was too small.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-11-09 09:16:43 | OGI | sell | $1.890 | short |
| 2020-11-09 09:16:43 | OGI | sell | $1.890 | short |
| 2020-11-09 13:38:31 | OGI | buy | $1.660 | 0 |
Comments
apache2a
Thanks for the compliment! I have been sick for a couple of years and so I don't trade for a living. I just get in trades when I can. I try to get in and look for trades from 9-930 when I'm feeling ok. I think if I was feeling better I'd be at a place where I could trade for a living. I do post EVERY trade that I take, win or lose.
I try to make it as stress free as possible. If you look at my trades the earliest I'll get in is 8:45 and the latest is 9:40. When I enter I include a profit taker and stop loss. Since it's pre market I have to watch it until 9:30, but once 9:30 hits I'm done. I just leave it until 3:30. At 3:30 I put in a market order to cover my trade and I'm done. Only takes like a minute.
That way I don't have to worry about reading the charts or ticks....I just either have more money at 3:30 or less...I was winning about 70% early in 2020 with a 1:1 win to lose ratio (almost exact). The last couple months I'm winning more like 55 to 60% but the w/l ratio is about 3:2...so the profit factor comes out about the same. Generally I get about 50 to 60 trades a month. I try to make it as easy and stress free as it can be. The more you can act like a computer the better.
marnick-95
That's sad to hear, but you definitely make the best out of it! The fact that you still trade is a sign of true passion!
Sounds smart to me, in that way you winners have a chance to run. But if I understand it right, you transformed form scalper to intraday position trader?
The bulk of my action is mainly pre market as well. I short overextended low float tickers above 3.00 with a bad history.
No, I don't really scalp. Early on I tried scalping...BABA, JD and AMD....but it just didn't work for me. That was when I was just learning. I had three bad trades early on....two were swing trades and one was a series of bad day trades. That series of bad day trades was an eye opener for me. I committed that day that I would have discipline and only trade my plan or I would quit. Mostly I've stuck to it since then and as a result seen success.
I'm scanning premarket as well, but a little different parameters. For a while I was shorting anything up 40%...anything. Haha...didn't matter the reason. I did OK with it, but it was too stressful. So now I'm looking at the charts and if it looks right, I have some minor stuff I look at (news etc..) and take it from there. It should be stress free, but i do watch it more than I really want to. Better to just set it and forget it, but I go back to it to check every now and then. my minimum is just a dollar though...if it is above a dollar and meets the criteria i'll short it. the best success i have is between 3 and 5 buck, probably a lot of the ones you are trading, but i'll do the smaller ones as well and I'll go up to any amount. I prefer under $30, but I'll go above if it looks ok.
So to answer your question, I never seriously scalped. I did some swing trading and mostly now just regular intraday....pre market to close.
Nice to hear! I tried scalping also but it isn't for me as well. The discipline required is too much for me. I want to hold it for a relative big swing, not just a tenth of a dollar. So I started analyzing the big movers and creating strategies to capitalize on them.
Haha Yes it's quite hard to not look at your position if you have one... If have a set of rules for managing open trades and also when to cut them. It gives me a feel of certainty and reduces the stress.
Price of a ticker is not everything to me, I like to look at float, outstanding shares and volume as well. And the relation between does citeria.
My strategy works alright but there is lots of room for improvement! But that lies on me developing as a trader
Very cool stuff bro! Sounds a lot like what I'm doing. Scalping definitely isn't for me...i think i damaged my eyes just doing it for a couple months part time. Haha.
What do you use for your backtesting?
haha :p
I use excel, I basically track everything what I think is important. And separate them in different sections.
What do you track?
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Hey!
I like your trades, you seem very commited. Do you trade for a living?