Shared by
Doug_Kenline
ok so not a terrible trade i would say.....messed up on risk management......changed to watching the 5 minute candles but that kind of cuts my day short as i need to be on my way to work at 10:15 AM........so maybe go back to the one minute candles but try waiting for the first 1 minute pullback instead of going in right away on the first candle....i think i will try that.....
so on this one today i was watching the 5 minute candles......and it just seems like that makes the game a bit too slow for me.........we'll see.......all depends on if you can work the strategy.....i think i'll go back to 1 minute candles but wait for first pullback.....all the while reading, watching, and studying....
don't know how i ended up with 3 executions....still trying to understand the difference between trades and executions.....
Thanksgiving weekend! Time to eat!
and now i see ABIL is turning around and heading up strong...4.83...dang, just missed it......oh well, back to the drawing board.....keep at it....
.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2018-11-21 09:50:51 | ABIL | buy | $4.370 | long |
| 2018-11-21 09:52:13 | ABIL | buy | $4.520 | long |
| 2018-11-21 10:00:10 | ABIL | sell | $4.340 | 0 |
Comments
Doug_Kenline
umarB
Hey Doug. Nice entry. The 5 min candles can be slow,but they can be slow enough to were you could slow your decision making down enough to make the right decisions. I switch my times back and forth from 5 min to 1 min, but mostly base my decisions off the the 5 min candle as for me the 1 minute candles can be too choppy. . I even some times use 15 min candles. I would try using the same time frame you use to scan for stocks. Which ever one you use to scan, stick with it.
thanks umarB!
the gap scanner is ross' gap scanner displayed live in the chat room. I don't think the scanner has any 1 minute or 5 minute time frame......i don't think gap scanners have time frames do they? and then if there is nothing showing up on the gap scanner he will watch for something to show up on the high of day momentum scanner......
i like the idea of slowing down the thinking and decision process from the 1 minute time frame to the 5 minute time frame.....the only issue i see there is that i have to have a hard stop at 10:15 AM to leave and go to my day job.....and it seems that my chart pattern may only be beginning to appear by then.........
seems like i will need my chart pattern to develop more quickly so i can enter and exit my trade before having to leave for work at 10:15.....
Well, Doug I'm not in Ross's chat room so I can not answer that accurately. I do know that gap scanners pick up stocks that have gaped in the opening and that is when I pull the stocks up on my charting software. It is my charting software (tc2000) where I change the time frames around to plot entry, exit, manage risk.... I understand if you have limited time in the morning. I also do not know what time zone you live in and how much market time you have. If I had a limited amount, which I do sometimes, I would use looser stops while managing my risk of course.
i am in eastern time zone united states.........i have until 10:15 am hard stop.......
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Hi Doug, the reason you may see multiple executions for a single trade is because your broker will sometimes fill your order (say sell 500 shares) in pieces as matching orders come through. For instance, you may get out of a 500 share position in three executions if there was a 150 share, a 50 share and a 300 share order to buy sitting at that price. It shouldn't effect your commissions. Hope that helps and happy Thanksgiving!