Shared by
space_junk
This was a nice gap and go trade off the open. I entered about 5 min after the open. It was taking off and I bought next candle after it cracked the pre-market high. It was looking like it wanted to put in a big wick and reverse. The follow through just wasn't there. I sold really quickly (about 15 seconds) and the stock retraced the whole move, going back into the pre-market range.
I've seen so many stocks I've been in do this I'm afraid I might just end up as a piker and taking 15 cent profits on every stock I buy and missing out on the ones that move 2 to 3 points on a day.
Something to work on - even though it did pay off on this one.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2018-07-30 09:31:24 | SSLJ | buy | $2.350 | long |
| 2018-07-30 09:31:52 | SSLJ | sell | $2.500 | 0 |
Comments
space_junk
Hi GeniusGG. No, I'm not in Ross's group but I actually do watch his YouTube videos every day. If his trades are legit he is a phenomenal trader.
Are you in there? If so how do you find it?
GeniusGG
yes i actually took one of his course's, it was okay... he is really a good at what he does.
i see you make some good trades on here, how long have you been doing this for? and what is your accuracy. also are you trading in a sim or live?
I've only been trading for a few months. I'm pretty much just treading water at this point...I guess I should post more losing trades. I have more winners than losers but the problem I have is it seems the losing trades I have just move so quickly against me and wipe out a week of good trades. If I could fix that I'd be on the path.
Did you identify the mistakes your're making to cause those losers? and if so, have you come up with a plan/strategy to minimize those loses, or to not make those same mistakes again. I myself have a lot of winner's that turned to losers because of not taking profits off the table and ultimately holding too long.
So my quick fix was to set tight stop losses, bail out if the trade takes too long to work, and i have also set automatic take profit targets since i have an issues taking profits... it works. however stop losses can be a pain cause sometimes you get stopped out of a trade when you got the right entry, then it immediately pops back up and surges like 20-30 cents even more; as if the trade is mocking you.
What's your style if I may ask? Looking at your shared trades looks pretty similar time frame.
I think my issues are looking like I get into a trade too early or I feel like I'm just trying to force something.
I'm not blaming my broker, but on so many days the best trades are short and with SureTrader you can only short the big stuff and stocks that move 5 cents a day.
But my 3 biggest has been trying to pick a top or bottom and it tore my face off in seconds. If I could just delete those 3 trades I'd actually be profitable.
Do you use DAS? I'm thinking about setting up some hotkeys to handle SL and TP points. I normally have a mental stop and I have been good at keeping those like I said the big ones happened fast.
my style is basically momentum trading, yeah sure trader sucks.. i switched to CMEG ELITE, better commissions also they offer direct access routing which will get your orders filled faster, cheap ecn fees. yeah they use DAS also.
i always use hotkeys, it's a requirement for my style of trading; if you wanna be profitable that is. i don't use mental stops, i am afraid 10 cents will become 20 then 30 then 40, thinking in the back of my mind jus give it a sec to bounce lol... so i set a hotkey for stop loss and profit taking (OCO).
I've been good at using mental stops so far, it's just my choice of what and when that needs tuning.
No, I haven't taken any. I've read quite a few books, traded simulator, I'm just using a very small account now and my positions are small. I'm giving myself a while to get this sorted. It's hard though. Living here in Australia sometimes after a day of work i'm just too damn tired to stay up to 11:30pm when the market opens in the winter here. I'lll have to start sleeping in the summer here when the market opens at 1:30am and then I have to go to work. No mentor either, unfortunately.
If you've got any good course recommendations I'd appreciate it. It's hard to get objective opinions.
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Are you in the warrior trading group? awesome trade by the way