Shared by
TianYu_BOWS
When the price poke through 20.00 first time at 10:00:00 am.
I clearly remember right before that there is a whole bunch of passive buy order sneaky buying around at 20.03 20.04 20.05.
When it poke it through the lowest price was 19.97.
And normally, it should follow by a bunch of stop sell order refresh the time and sale.
But this time, there is no panic seller.
I sense maybe it is a trap.
So,I cover all my short position and buy 2 lot hoping for a short squeeze.
But it hold at 20.10.
Consider it is still a down trend I sell it all.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-05-03 10:00:29 | STX | buy | $20.020 | long |
| 2016-05-03 10:01:11 | STX | sell | $20.090 | long |
| 2016-05-03 10:01:45 | STX | sell | $20.031 | 0 |
Comments
TianYu_BOWS
I got your point.
Actually,before I took the BOW course my p&l keep red red red red red every single day.
I begin live trade at oct 2015.Almost every day is red.
And after the boot camp,things turn better.
Today I was trading STX with BOW setup at the beginning.
But I break my rules and turn it into a scalp play at last.
https://www.tradervue.com/trades/4555976
It was the first time I see so many green day at a row with my p&l,
even though it's sim trades and even though it's just a few cents every time.
Deep down,I don't want to give back any single penny.
So,I think that's why I can't help scalping.
Maybe one day, I consider myself a profitable trader like you guys.
And have the confident to not haggle over every penny.
I'll feel more comfortable to hold the trade more longer instead of scalping around.
Thanks for the advice anyway!
LPeriman_BOWS
No worries, my friend. That's why you share your trades .. to get other eyes on it with a different perspective. But, only yours can see what's going on in your own perspective.
I traded terrible these two week.Even weekend on the replay simulator I'm still losing money.
Once the first time I break my rules in the trading plan I wrote when the BC finish.
I got more and more discretional. Now my system it's completely change compare to the origin one.
And of course the result is terrible.
Though, I'm still in the sim trade phase so I didn't lose any money.
But my confident is breaking down.
So,I think you are right.
From now on,I should stick to BOWS setup only.
If you would like another perspective on things for your consideration, send me email at l.periman63@gmail.com
Leave a comment about this trade!
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!
There is something to be had by watching the Time in Sales and level 2. (Unusual) Held bids/offers, hunt orders, etc are great ways to help in scalp. But, if you pay for the BOWS training, why try to take advantage of it? I used those scalp techniques too, but only as a way to time my entries and exits. My trade decisions are made using BOWS system. STX is a great example. Your habits meant you had a winning trade of 7 pennies. But, if you traded the BOWS ORB setup and VWAP pullback, you'd still be counting dollars http://screencast.com/t/WUcB8Z9xW
Again, NOT meaning to be critical of another system. Only suggesting that if the other system didn't work for you by itself and you pay for another system... then give this new system a real chance. I can pretty much promise that if you master EITHER system, you'll make money. I like BOWS because it is, relatively, low stress trading.