FB Trade on Dec 19, 2018 10:21 from MarcoG: Tradervue User Stock Trades.

This is my "temporary" EDGE :D

Now I have to work on this!!!
I am soo happy that last days I have been breaking the rules for the sake of improving those that actually are bad. You have to set your rules and stick with them, but what if your rules with the time come out not be actually those they suit your approach? I have applied from the 29th of November strictly the rule of if green/red I am done for the day. I have tried to apply it getting nice results to be studied. But what I have noticed is that mostly I start the day red and take back all the loss arriving in green with trades that I make after 10 o'clock. I trade at the opening strategies that really don't suit my personality. I put love and dedication in each trade I place and I hate being profitable when I haven't basically done anything. I want to make good, excellent trades, I wanna get satisfaction by reading the price action dictated by volumes change, by tape reading, speed lines, getting most of the move the stock will do cause able to don't panic and let it go until it shows signs of continuation. Have clear the catalyst on the stocks of the day, menage perfectly order type and their execution. I have done in 3 weeks trading 3 mistakes in placing orders due to lack of focus closing positions with wrong loss/profit order. Other thing that I have noticed is that the day I have taken the greatest and sole loss being that high has been when I just applied the rule of not trading if already red after 2 trades. Once I have found strength in believing that this could be wrong specially when you still don't have an edge, I have finally understood which could be my edge for the coming months. If I would have stayed on "2 red trades ergo I am done", I would have never understood that I am red due to the wrong trading strategy/rules.
In this trade it's clear how I have started with the right approach and attitude and waited for the whole dollar profit to add. I have with patience followed the SPY and most of the major stocks we use to trade and FB was one the few to respond to my setup. Most of the stock were following the SPY trend while FB had a huge sell off due to the catalyst on it. I was not aware of the catalyst but from a strategy point of view it was a top quality stock for me to trade. I have entered only on fade down of ema20 with the vwap on the 5 min chart. I have been helped by following price action and speed lines on the 24sec chart to spot a good entry only on validation. I am disappointed though how I menage it after have taken out most of the trade with an average of 1$ per share. I have entered in a different mind set and even if I have got already a wonderful result I didn't give the price the opportunity to really move up to the dropping point, I have immediately stopped it once 12 cents against me. 2 mistakes due to mental panic: first add with no space to move at all and as consequence other add that didn't have again space. At this moment the eMA had even crossed down the VWAP as a confirmation of the heavy down trend falling all the way to 133 :O Here I had to heavy size up instead of closing. Another great lesson on how to payback all the work and sacrifices I am taking since started trading, just be patience and ride the wave, a little win won't give me the same feeling such a big one, so I will aim for few big wins and many small losses!! From my reporting tables I can underline of having reduced the loss per share in red trading days to an average of 0.06$. When I am red in the day I lose 0.6 cents while when I am green I have an average of 0.17 cents of dollar. Improving my accuracy so avoiding the trades at the opening up to 10 o'clock will immediately show me if I have to keep investing on the practice of such edge or discarding it to aim for another setup of rules. I have definitely to remember what I am writing now when trading again tomorrow hoping to face again another scenario in which I will be able to practice on how to handle the panic. To don't trade up to 10 o'clock it's an easy job, just watch the clock, while the handling of the panic it's something takes considerably my attention. Yoo!!!
Little Recap on the strategies making my edge:
Major downtrend failing the retest upward entry: 5min chart on price crossing down VWAP with eMA20 already testing from below the VWAP and failing. You can also use on the 3min chart the eMA13 crossing down the VWAP as confirmation or signal
In down trend