PocketPAT

Since my last strategical update, I've returned to using 2-Minute charts. It dawned on me that if the 1-Minute charts are clean, the 2-Minutes should be even cleaner. I've also decided to watch just two stocks instead of four, since it's more focused and a second perspective will be enough to judge overall sector momentum (if I can find two top stocks within the same sector). I've realized that TradingView's Stock Screener is pretty on par with StocksToTrade (the same filters provide the same results), so I'll refrain from subscribing to STT every four months as recently planned. I've nixed the idea of trading the same stocks every day. Instead, I'll now have the pleasure of scanning every morning, choosing the two with the best charts and highest Average 14-Day Range (0.75 minimum). Unless I come up with some wild and wacky scanning idea, which required complex filters, I really don't see myself ever using StocksToTrade again =/ ... It was definitely a wild ride =) . All-in-all, STT has a phenomenal scanner, but the overall functionality of the software is VERY subpar. It took using other charting sources to realize how crappy STT's charts are and the constant crashing/overall sh*tty performance is a terrible handicap to what would otherwise be a great product. To use STT, I find that you either have to get USED to the problems or find ways to get around them for an actual usable experience (likely both). Once I got past that stage, STT was laughably awesome lol. It's amazing how expensive it is though ($200/month with Level 2), given the major issues and the fact that (aside from the endless scanner filtering creativity) it's fairly easy to find comparable or in many cases BETTER technology elsewhere for FREE!!! It's amazing that I paid them for a year, but you live and learn. There will always be a special place in my heart for STT; but my new combination of TradingView for scanning, ThinkorSwim for 2-minute charting, ETrade Pro for executing orders and WeBull for extended charting (5M-4H) has slowly but surely settled into the greatest setup I could ask for =)

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PocketPAT

lol 9:25am... Ready to go, all screener results reviewed, two main watchers chosen, biases created... 9:29am... Charts set, plans built....... 9:30am... No opening bell on ThinkorSwim.... "Is the internet good?", "Is it Saturday?", "Is there a holiday today?", "Is it day light savings?", "Should I restart my programs?", "Is WeBull showing price-action movement?", "How about ETrade?", "No 5-minute countdown on WeBull either???", "Somethings wrong, search Google"................. "Markets closed, July 4th observed today"...... Then that sudden feeling of the world being dead fills the air. It's like that time when I showed up to the office in 2016 on New Years Day lol. Lights off, no one but me, holding my things. All you can do is laugh. "Damn, the roads WERE clear as hell this morning, weren't they??? LOL". Sucks that there's no opportunities to practice, to further my strategy today; but then I remembered....... ThinkorSwim OnDemand =) #TheSagaContinues

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PocketPAT

+1040 (EB, TEN, MTDR) ::: I'm considering sticking to only the big moves at the open, instead playing the reversals through 12pm. I have four solid and predictable setups, with each providing two movements in one; but $900 in today's profits were on the very first play. A few chops and scratch losses came thereafter and while it could be just how the market is moving today and it could just be worth the reversal grind profits and while it's possible that my small frustration with the moves after the first could be attributed to my having to settle for late entries (and therefore easy stop-outs and smaller gains, instead of ideal entries on t----- ok, actually, I'll stick with both the first and second moves; but ONLY if I can enter NEAR ideal entry for the reversals. If I miss it, I'll just have to sit on the sidelines. I've decided to stick with my STT scan, including a premarket news scanner for contracts, COVID-19, earnings and offerings; but I'll be looking to join Investor's Underground within the next year. Until then, I'll rewatch the Textbook Trading DVD. I've also decided to revert back to sizing in by 1/4; but I'll size-in only on higher lows, lower highs, level breaks and I'll trade with four entries max. With ETrade set to "Last In, First Out", I'll only sell later entries on potential reversals. This allows me to reenter additional shares if the stock continues to crack/bounce, for higher gains on the original lots. Tomorrow is yet another day. =) #Progress

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PocketPAT

Kicking myself for not swinging ALLY sooner, as I’d be up about $5,500 in premarket this morning from 18.50 (fully-sized). It’s very likely that I’d be up $50,000+ from swinging in both directions from late March, but all you can do is use what you know now and move forward. I’ll be looking for a dip at the open for continuation on small size, even though it’s vastly overbought. Ideally, I’ll be watching for the short signal overall. ------ 1:44PM: Make that roughly $7,000 I coulda woulda SHOULDA been up on. Not at all kicking myself anymore though. The strategy is clear and I'm excited for the future. Got a solid short entry at 23.75 and I've decided to only size-in by 1/3, once per day; unless the stock runs beyond an extra dollar in my favor (then I'd size in only once more that day). This will lower the risk for stop-outs throughout the day and lower my overall risk overnight, should it run back towards me for even a potential loss. I was skeptical about holding overnight in this market (which is the reason why I'd shelved swing trading as the market crashed) (also knowing nothing about any of these slow-moving stock companies) but after researching a bit on ALLY, while understanding the long-term chart history and volatility potential based on market cap and float, I feel comfortable sizing in over three days with overnight positions. It's not likely that the stock doubles or halves in one overnight session and with sizing in only taking place as it runs in my favor, my risk will always be low. Time will tell =) . I've also decided to begin using ETrade's "Specific Lot" selection method when executing and managing trades. My current stop for a 1/3 entry on ALLY is -90 and I'll be monitoring each entry as a separate lot on ETrade Pro. This is going to be SOOOOO awesome, because I can see when a particular lot (there will only ever be three) is reaching the stop-out maximum for a cut. Though, I'll very likely just set Hidden Stop Orders for each lot to automatically stop out after reaching it's peak (-90). I'll also set an alert for one dollar beyond my latest entry, so that I can simply monitor the trade for an hour or two, set any stops and alerts and simply move on with my day. If I get stopped out on an entry for a $100 loss, it's not at all a big deal. I can reevaluate the overall trade and go from there. If I get alerted that it's run beyond a dollar, I can size in from my cell phone, set another hidden stop and review the finer details when I return to my computer later. =)

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PocketPAT

The saga continues.... I've realized that ALLY and all slow-movers are better for swing trading. I've redabbled with trading the fast-moving penny stocks from Tim's watchlists and discovered that ThinkorSwim is actually really dope when you customize it. The biggest thing there was realizing that WeBull's "real-time quotes" are actually delayed by about five seconds when compared to ETrade and ThinkorSwim. SMH. I thought of resubscribing to StocksToTrade for charting, but looking through the chat history over the past month, I see that MANY people have been having technical issues (specifically at market open). It's a shame, because I love STT, but no one can really justify $180/month with all the glitches. I'll still use it for finding new tickers to watchlist, but TOS seems best for fast-movers on 1-minute charts. ETrade's charts were laggy AF, but maybe it's my installation. I also gave TradingView a try and while it's actually really nice, WeBull (even with it's slight delay) is perfect for SLOW-movers (especially with swing trading). Giving fast-movers another go with just a few days left of my Profit.ly subscription, I can see that slow-movers REALLY are my preference. With the chat buzzing and Tim's alerts filling up my inbox at 20+ per day and his commentary spazzing out my desktop notifications and trade alert sirens screaming non-stop lol... I'm better with the silence. I've been trying to figure out the best way to swing ALLY for multi-day runs. Should I take two days? Maybe three or four? How should I size in? How wide of a stop should I use? I've been putting many things into practice and success has been super spotty; but something recently clicked. First, I'd decided to swing ALLY for no more than three days, sizing in on higher lows or lower highs by 1/4 entries. Pretty solid plan and it was beginning to work until today when ALLY RIPPED unexpectedly; instead of crashing down to predictable support. That's when I (frustrated) decided to look around for some reminders on how to successfully swing trade. I had my own methods, but I was desperately open for new ideas. I'd remembered this guy on YouTube (J Bravo) who primarily swing trades and makes funny videos about coronavirus and news hype. I watched one of his videos today on swing trading TSLA and was reminded that using the RSI indicator can help guide you on ideal entries and exits for swing trades. I'd never found much use for it before, but it made perfect sense to test the theory out now (I'd first been introduced to RSI by ZipTrader). Looking over ALLY from the initial bounce after the crash in March, I adjusted the RSI settings to capture each ideal bounce (that I'd already been playing) and quickly realized that perfect entries and exits were extremely clear. Each run would have been about 3-4 days, usually providing roughly $2400 in profits each way. Going forward, I'll make entries over the 5-period SMA, using the 15-minute chart at clear support or resistance, with a 30-cent stop, sizing in by 1/4 on each 50 cent price cross and only exiting after the first red candle on the 2-hour chart. I'll map out the overall trading path with the 4-hour chart and incorporate the weekly chart to see long-term key levels (which are now needed since ALLY has ripped into higher ground). I'd known that ALLY would eventually break the trend either higher or lower, but my main concern has always been on whether or not it will continue to provide volatile swings after regaining a price above $20-25. I have six other solid tickers to swing in the case that ALLY no longer moves enough, but I'll be resubscribing to STT this weekend (for just one month) to run scans for building the watchlist (specifically for tickers between $5-20 for plenty of volatility). My goal was $2k/month, then $4k, then $6k as I refined and built consistency with my strategy; but it seems that $8k and beyond is definitely within reach now. Still, I'll take it one trade at a time =) . Never give up, never surrender.

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PocketPAT

-34 (ALLY) ::: I've abandoned the "third candle confirmation" idea, as well as the 10-15 minute wait period at market open; opting instead to trust and WAIT for KEY LEVEL entries on 1/4 size, as securing that early entry will (as I've seemed to have forgotten) make avoiding shake-outs MUCH easier. I've also extended the Spread Box from 15 cents to 25. This is, again, to account for high volatility at market open. It'll be best to lean on the side of caution before sizing in on such high movement after the bell. I've decided to ONLY focus on tickers between $10 and $20, as these seem to have much cleaner overall price-action than cheaper stocks; and I've also refined my order flow technique. I'll leave ETrade Pro's quantity at 1/4, turn off "Preview Order", turn off "Show Submit Button" and click the order button once for initial 1/4 entry, once for the second 1/4 entry and TWICE (double-tap) for the 2X size in. This way, I don't have to fumble with changing the quantity and can focus solely on the price-action. Exiting trades will be just as easy in the opposite direction (1-Click in pieces). It's the closest thing to a Hot Key scenario (I don't want to use Hot Keys just yet). The speed and liquidity of these stocks make "Preview Order" boxes unnecessary. I'll continue to keep MARKET ORDERS, as using them in combination with the 1-Click orders make trading MUUUUCH more seamless. I'm also considering using "Last In, First Out". I can't find anyone on YouTube who's discusses the potential for smaller losses and better averages. Wouldn't it make sense that, if I get shaken out on a second size-in entry, my small loss on those most recently added shares will be worth keeping the original shares for a better average? This way, if that shakeout was wrong and the stock keeps going in my direction, I can easily reenter and still maintain the great average of the original shares (for bigger gains). THIS MAKES SO MUCH SENSE lol. Am I the only one??? I'm going to test it out in a while, but for now, I'll stick to First In, First Out. Baby steps, baby steps. Today has felt like a sideways day from about 10:30AM and I've made the decision to not play games on flaccid moves. I could scalp each way, but I'd rather save my sanity and move on til tomorrow. If stocks end up running or cracking in the second half of the day, after sideways action, that's perfectly fine. No need to (what's the saying?) squeeze water from a stone? Tomorrow is another day =) #ProgressProgressProgress

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PocketPAT

Over the past week, I've switched from using $100 per trade to $1k; which will be my max equity until reaching $20k. At that point, I'll use $3k and switch to $5k after reaching $27k in equity. Let's see... I've eliminated the Support Bounce, but have fallen in LOVE with the Gap & Crap. Very easy, very predictable, high odds setup for sure. I've toyed around with the PMGD Short, removing it only to bring it back. Tweaked it and figured out that perhaps I'll stick to tickers that ONLY gap down 1-3% premarket; with much more room to fall. The huge gappers sometimes have plenty of continuation, but it's best to have it close to resistance for an easy wall to risk off of. BUT!!! The greatest thing discovered over the past week has been my reintroduction of the intra-day swing play. I've previously toyed with the thought of simply playing price-action back and forth; potentially all day. The problem was that I'd only had a small number of day trades and therefore was unable to take advantage of this HUGELY profitable setup. That was back 6-8 months ago; but now, with my recent discovery of both slow movers and Heiken Ashi candles, the intra-day swings have been VERY solid. I've only been paper-trading them so far --- BUT! It's ultra-realistic since the tickers are moving at slow (real-time) speeds, I'm using realistic position sizes and overall because I'm taking it seriously (as previously done with paper-trading last year). If anything, WeBull's laggy paper executions make it HARDER to paper-trade, as ETrade's real orders will be instantaneous and these tickers trade at least 20-100x my position size in each candle. My new schedule is to scan my watchlist of slow-moving and clean charts during premarket, choosing two Gap & Craps or 1-3% PMGDs to short simultaneously at market open; also dip-buying the reversal bounce on Gap & Craps to resistance; then switching to ONLY intra-day swings after 10:30AM and trading the FULL day until 4PM. Using 5-minute candles, these swings are literally easy money, as I simply correlate Time & Sales with the change in direction to pinpoint the ideal entry (which is typically after the first or second Doji candle has completed). If you look at how these charts move, they almost never go back and forth in direction, so it's VERY easy to simply secure the entry and ride the move. After the move reverses direction, you can simply exit your position, flip your bias and trade the opposite direction as well. You can literally do this back and forth for hours, on MULTIPLE tickers at a time (I find two to be best) for endless profits in both directions. The key has been 1) slow-movers (typically small-to-mid cap stocks) but with 2) volatile price-action (which is why building a list of go-to stocks is key), 3) HEIKEN ASHI CANDLES (the gift from the gods!!!) and 4) the ability to go both long and short (which should be easily available with these huge stocks). I've been doing less trading this week and more observing, as I'll be suspending my subscription to StocksToTrade on Saturday morning (only to resubscribe every January to March, only for building the watchlist with new tickers each year) and want to spend as much time as possible both confirming the strategy and building both my primary setup (Gap & Crap and 1-3% PMGD) and 5-minute Swing watchlists with the time I have left. I've been growing them both very quickly since Monday and am currently at 91 and 48 tickers on each respectively. The "5-minute" in the Swing name is only a mental reminder to use 5-minute candles. Many of these intra-day swings can last 20-30 minutes; but in trading them for only two hours, I easily collected $300 on slow-moving price action both ways. Had I been able to trade from market open, I could have easily (potentially) made $800 or even $1200 today and I've finally built a strategy that can be used day in and day out; in any market, at any time.

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PocketPAT

Over the past week, I've been really pulling back on trading to build, refine and confirm my trading strategy; with quite a few changes. I've dumped the 2nd/3rd Red Day Premarket Gap-Down and expanded the Reversal from Support/Resistance to now the Gap & Crap and Support Bounce. The Gap & Crap is (for me) a premarket gap-up that is resting at key resistance just before market open. Once the bell rings, it typically craps out down to key support. I'll short at the open and cover down at support. The Support Bounce is the opposite: premarket gap-down to key support, for a bounce after the opening bell. Buy the dip, sell the rip and move on. I'll also play the reversals for each setup, effectively turning two setups into four. After PDT, I'll still plan to trade two at-a-time, since these slow-movers are so easy to juggle. Over the past week, I've watched time and time again as these two setups provide numerous opportunities every single day. Perhaps that's due to the market consolidating, but my focus is still to master setups that I'll be able to continue using when the market stabilizes. I could keep the PMGD Short for the occasional perfect play, but that seems to have only been a great setup while the market was tanking. When everything stabilizes and we get a consistent pattern of consecutive green days to short after the First Red Day, perhaps I'll reintroduce the PMGD Short as a third solid setup. ----- As a matter of fact, I'll make that official now. Its truly a repeatable and highly profitable setup and so I'll bring it back when the time is right... I've also decided to completely eliminate sizing into plays. Instead, I've expanded on widening my stop-out on small size, to avoid not only being stopped out too early, but being stopped out altogether; as an ultra-wide stop is often far from the point for where a pattern would be broken. This gives mental clarity and focus for the price-action, since I'll never have to worry about being stopped out. I can simply cut the position when the pattern is broken. Using small but respectable size, with the ultra-wide stop, I'll replace sizing in on ideal price-action with DOUBLING my position ONLY IF the stock rips/blows or cracks through my sell/cover target. If it goes beyond my ideal exit point, it's proven itself as more than a single and would then be worthy of higher equity. I can now essentially focus on taking singles with respectable size, while still having the ultra-wide stop and maximum focus for every trade; with two highly effective setups to trade with. This also means that I can reintroduce TDAmeritrade for nine potential trades per week (ETrade, TDA, WeBull), which I very well may use with all the Gap & Craps and Support Bounces taking place nearly every day. I've also removed my Unrealized $ Profit/Loss (Tim Grittani-esque), replacing it with the Unrealized % P/L instead. I'd rather not remove it altogether, as I feel comfortable seeing the position moving (just to know that it's active on the platform). This has already proven to provide much more calmness during trading..... That's about it =) --- oh.... I've also reduced my max equity to just $100 per trade (yes, $100 max) until I confirm two weeks of consistent profits between these two setups. I was using $1000, but for the purposes of testing the strategy; there's no need to lose more equity than needed. My max loss going forward will be 10% (which I'll rarely hit with the ultra-wide stop beyond pattern breakage), so currently I am risking $10 per trade for which I would have to be TERRIBLY wrong to achieve. My typical stop by pattern breakage will be 4-6%, well before my max loss. I'll use the 10% rule forever, as I am COMPLETELY in love with the ultra-wide stop-out.

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PocketPAT

Decided to take yesterday and today off. I've been stumbling upon many pieces but still needed to put the entire strategy together. I resubscribed to Tim Alerts (over PSSilver), but just for a month; to see what Tim and the chat were doing. I needed ideas, because I didn't have any real direction. With no premarket gap-downs, I started forcing trades. After reading a few recent watchlists from Tim and perusing the chat, I reconsidered speculative longs on sector hype and premarket breakouts on news; but the best breakthrough came after remembering how powerful StocksToTrade's scanner is at finding ideal setups. I've tried using WeBull for this over the past week and it's not even close. I had my mind made up to cancel StocksToTrade after this last billing cycle, but I'll keep it without their Level 2. There ARE many hype plays right now and the potential is crazy, but even after getting a glimpse of the profits everyone seems to be making, I'm even more excited to stick to my own setups. My problem this week was not having ideal setups, based on my shorting strategy; but that was because I was looking in the wrong places. My watchlist is only 50 tickers deep and WeBull's scanner wasn't cutting it. Firing up StocksToTrade's screener and setting up a scan for both First Red Days and Premarket Gap-Downs, I see now that 1) there were plenty of plays this week (over 45 last night) and 2) StocksToTrade is what I need to be using to find them. I've expanded my setups to 2nd/3rd Red Day Shorts, Premarket Gap-Down Shorts and Flip & Dip Longs. A great Flip & Dip is PBF this morning. After shorting the dump to clear support, I'll flip my bias and dip buy it for a single to immediate resistance above. I'll save this setup for after PDT though, since I only have so many day trades and would rather save them for high probability shorts (over speculative longs). I've been back and forth moving funds around this week, as my strategy has been all over the place; but this is one I can stick to. I'm back to focusing on ETrade and WeBull. #NoFOMO #ShortsOnly

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