PocketPAT

Top Short Watchers: CPG, HBAN, NAT, PK, NBR. All have recently broken key support and have room to fall. Think I'll just watch today, instead of paper-trading (still using TOSOD this afternoon). I feel most comfortable shorting on ETrade, while ThinkorSwim would be my second choice and WeBull the third. WeBull doesn't seem to have many ETB stocks on hand and I'll ONLY be trading easy-to-borrow on all three platforms. This is why I've been focused on building a short watchlist with tickers that are ETB on ETrade (my primary platform after reaching PDT). Currently, I have..... 46 short tickers, all with solid charts and easy to borrow. My main watcher criteria (outside of fundamentals like price, float and market cap) are that it must have clean chart history, just closing on a solid first red day and it MUST have broken a key support level either on the first red day or IDEALLY during a premarket gap down on the second day, for maximum panic and a solid resistance level to risk off of. Let's go baby!!!!!!!! #AdaptorDie ----- 3:44PM: After today's observations, I've critiqued my short watchlist from 46 tickers down to 18.

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PocketPAT

Always be ready for every situation =) ... I stayed out of the market to load up ETrade's day trades for tomorrow. My new strategy is set (3x size-ins each day/position). Tomorrow, I will have all three day trades at ETrade to start it up fresh. Then WeBull Tuesday-Thursday and three day trades at TD on Friday. BUT!!! I saw CNN reporting the market tank from the gym this morning. I was so excited!!! Perfect time to buy into TZA, but SPXU (currently up 10% on the day) is better since it's cheaper. You could EASILY use full-size since it moves VERY slowly (also being expensive). I've just counted the potential gains on each dip bounce over the 5-period SMA on SPXU from market open til 2pm (right now) and the total for a $12k account (using full-size on every dip) would be $500-600 on the day. Also, nearly every stock on my watchlist is red. Some are over-extended, so it would make sense to short those all day. The worst ones are down 10-15% on the day!!! All slow-movers, too; so safe to size into for max risk/reward and huge profits. If the recession hit, I would switch gears immediately to shorting these slow-movers and dip-buying SPXU every day. Wonderful opportunities abound =) #ReadyForAnything

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PocketPAT

Just had THEE GREATEST epiphanies this morning. I've reconsidered sizing in three times, mainly because I LOOOOVE the low-risk factor that it provides. I basically have to be TERRIBLY wrong on a play to get stopped out for a small loss, because my loss-limit for the 1/3 initial entry is often far down the chart. Last night, I was listening to the "Chat With Traders" podcast on YouTube and going through the "Risk Management" compilation video. FuturesTrader71 was talking about getting the most out of the market while losing, to understand the market flow. Make the market work to take your money. My only issue with sizing in at WeBull is that I don't want to accidentally lock up my ETrade or TDA accounts, getting their "one-size" day trading rules mixed up with WeBull's "unlimited size-in" day trading rule. This morning, it dawned on me that I could technically size-in THREE times at WeBull on a single day trade. THEN! It dawned on me that I could actually size-in three times EVERY day, using all three day trades at ETrade and TDA on single positions. I could size in 3x at ETrade on Monday (all three trades), 3x at TDA on Tuesday(all three trades), and 3x at WeBull Wednesday, Thursday and Friday (each day using a single trade). I could still trade every day, but with the lowest risk-level and with my stop being so wide (from the 1/3 entry) I could just get out early once the trend is broken and save the other two trades for another play! On this other play, I would only size in twice though (two trades left) and I could continue to keep losses extremely small. I've also decided to add TZA to my daily watchers as I can simply get in with full-size (because it's so expensive and slow-moving) and make back those potential losses on the third trade (if stopped out on the second) or collect small gains in the event that the markets are down. This was a FANTASTIC day for progressing the strategy =)

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PocketPAT

Was looking to re-fund my Interactive Brokers account for three additional day trades (to make nine total per week = two per day Mon-Thu and one on Friday) but was disappointed to see that IB closed my account a week prior. They did this apparently because not only did I withdraw all funds to stick with just two accounts, but I also unsubscribed from their Level 1/Level 2 data plans. I could have "requested" that they reinstate my account (only after resubscribing, of course), but I was put off by the fact that they went so far as to CLOSE the account........ I've been looking into WeBull, given that many traders that I follow on YouTube love and speak highly of it. I decided that this was a grand opportunity to finally check it out for myself. After all, I really only need a third broker until I get over PDT (which should be the next 6-8 months). After that, I would stick to ETrade for day trading and later on TDAmeritrade for swings as well. I'm fully invested in their platforms. Today was my first experience trading with WeBull, using the $1,000 that they give you while your deposited funds clear. At first, I was going to only use one day trade. This way, I would still have two trades left to use with my full equity in that account when funds clear tomorrow. But with FCEL running so nicely, it occurred to me that only using $500-1000 per trade was enough given it's volatility during huge run-ups. Yesterday, I'd only felt comfortable using $500-1000 on FCEL and it turned out to be the right choice. FCEL is the only fast-moving slow-mover that I'd be willing to trade. Long story short, WeBull is fantastic, but the slow P/L updates during trades was definitely not my cup of tea. Executions were.... pretty quick, especially for fast-moving FCEL; and I've decided to keep WeBull as the temporary third broker. Even after I stop using them for trades, I'll continue using the free tools to watch up to six tickers in the background. BUT--- one critical thing that I'd noticed today was that after sizing in on FCEL (and exiting the trade) I still apparently had two day trades remaining. With the sketchy P/L lag, I chaulked this up to them needing more time to account for the second day trade. On both ETrade and TDA, two entries (even into one position) sold on the same day count as TWO day trades. I've previously heard from Kyle Williams directly that Interactive Brokers allows sizing into trades to still count as one day trade, though I'd never gotten the opportunity to test it out for myself. Apparently, this varies from broker to broker and I suppose that WeBull is one of those that count multiple entries into one position as a single trade. This changes the game for me, as it sunk in about ten minutes ago that I could now size-in twice all five days of the week on the same account. Previously, the plan was to use two trades for ETrade and TDA on Monday and Tuesday, two trades from the third broker on Wednesday, one of two SEPARATE brokers on Thursday (not sizing in, just different trades) and just one left on Friday. The limitations in this strategy were that for the 4th and 5th days, I would not be able to size-in on trades. As a result, I would simply trade with either half or full-size on those days; but if WeBull is counting multiple entries as one trade, then this means that I could size-in with them for the last three days of each cycle. This takes my low risk/huge reward strategy to an everyday level. In the end, I only typically trade 2-3x per week anyhow, but with this new ease of entry, I may be willing to speculatively enter more trades; not to mention the fact that my new 1/3 to 3/3 sizing method makes achieving 5 to 1 or better risk/reward much easier than ever. Trading FCEL today, my small-loss stop-out for the 1/3 initial entry was 20 CENTS down. For FCEL, that was so low that it wasn't even visible on the chart--- for a SMALL loss. #StrategyandExecution #BrickByBrick #Ninja

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PocketPAT

After a few hours of tinkering, I've figured out a way to have all my order drafts accessible without saving them on both ThinkorSwim and ETrade. There is almost always a solution, if you have the patience and MacGyverism to figure it out =) ... It's crucial for me to have my finger on the trigger of ALL potential plays at ANY GIVEN TIME... TOS is still better, but ETrade will live on, for now... Now, I can see exactly what I want to see on ThinkorSwim, without 75% of the unnecessary clutter... Fantastic!!! Tomorrow is another day =) #DoItRight #DoItYourself

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PocketPAT

Got in NIO on the double-bottom with extra small size due to the choppiness, but got shaken out after seeing huge sellers on the Ask with low buying pressure. Turns out I could have held as it's bouncing a bit, but the bigger lesson is to continue considering speculative dip buys using extra small size; instead of taking them off the table completely. I'm also sadly giving up on ETrade Pro (likely), because ThinkorSwim is just way better when it comes to saving orders; and it's just not feasible to have 5+ potential plays, constantly changing the order entry trying to decide which one is the right one to get into. ETrade Pro's process for accessing/editing/submitting saved orders takes like 3-5 clicks where TOS is 1-2. I'm seriously considering moving all funds from ETrade to TDAmeritrade under a second cash account and using it for T+3 as needed. Sad, because I love ETrade Pro's setup and HATE how cluttered TOS is (not to mention the lack of customization), but I've made it "tight" and made the font smaller in the settings; so TOS feels MUCH easier to navigate. With my now deciding to jump in on smaller panics with smaller size, more potential plays are opening up. Excited =) #PanicsOnly #TilPDT

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PocketPAT

Best practice for me seems to have become skipping alerts altogether and instead having all tabs of my watchlist open on StocksToTrade. Before, I was uncomfortable watching more than 2-3 tickers at once. Now, for some reason, I feel extremely comfortable scrolling calmly between 10-15. I build the watchlist the night before, with in's, out's, position sizes and profit potentials; keeping all tabs open so that all I have to do the next morning is mark the chart-levels (since STT wont save them when I close it). I've been building a trading process for about nine months and the flow is pretty seamless now. During the market open, I simply click between the tabs, looking to see which tickers are fulfilling my prophecy by entering the ideal entry region; with ETrade open at the ready for order entry. It's like I have 10 tabs open on Amazon, trying to decide on a product. Once a prophecy is fulfilled, bang. Enter the order and focus on the price-action =)

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PocketPAT

This morning, I used my penny-by-penny "stalking method" that I'd begun to practice recently, where I have my chart markers set, but stalk the panic on the way down in ETrade's "Order Entry" box 1-3 pennies above the current price. This way, when the panic finally turns around for the bounce: BANG!!! LMAO Instant execution (like I'm following it down a dark alley). Setting my buy a couple of pennies above the panic in motion and following it penny-by-penny as it panics to the bottom ensures that my order gets executed when the panic turns around for the bounce. BANG!!! Don't greedily attempt to get in at or within the wall of buyers, execute your order price just ABOVE the wall (1-3 pennies). Don't worry about getting that extra penny or two for the exact bottom, take the MEAT OF THE MOVE. If your order is set just above the wall or just below (when it's time to sell), your order will be fulfilled before the 90% of greedy losers who become bagholders. This is key, because many of these bounces tend to move a bit fast and trying to secure an order within the wall of buyers/sellers will lessen your chances of getting executed at all. Just ensure that it's close to the ideal entry level and not far above it on a fake bounce.

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PocketPAT

Sidenote, ThinkorSwim is jumbled as f***. *SIGH* I haven't used it in a week or so and I was like a ninja, closing this and minimizing that during my trade this morning. Heart palpitating "MOVE, WHY ARE YOU SHOWING ME THIS NOW!!!". WAY too many menus and sections to navigate through. ETrade Pro is SOOOO much easier to use. I have it setup so that it's literally ONE SCREEN that shows everything..... meanwhile, TOS has NO CUSTOMIZATION. Terrible. I can't WAIT to get over PDT so that I can dump TDAmeritrade/ThinkorSwim. Smh, but it'll do for now =) #Patience

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PocketPAT

Hmmmm... Conversations on the way home from the gym: I’m starting to reconsider sizing in. It makes perfect sense once over PDT, but with 3-6 day trades, sizing in with two trades per ticker may not be worth it. I currently have two trades left on ETrade til tomorrow and one at TDAmeritrade til Friday. I’d feel more comfortable with more bullets in the chamber. I think I’ll use $2k til I’m consistently profitable, then raise my positions to $3k til I've doubled my account size; then I’ll increase positions again to $4k til I’m over PDT. This way, I’ll have six bullets in the chamber each week and can still practice great risk-management =) ------ I'll save size-in's for when I'm in a ticker that REALLY spikes and I'm up from way down below. At that point, a size-in would be super profitable. Other than that, I'll stick to singles (technically sizing in would take my position from a single to a double).

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