PocketPAT

+1750 (BILL, FSLY) ::: After 20 months since I’d begun tinkering with the stock market, the strategy is now complete. I’d spent the first nine months following Tim’s patterns. They’d work, but I’d come to realize that their extreme volatility and sporadic nature were simply not for me. I’d watched all 5,000 video lessons at the time, 15+ DVDs, hundreds of YouTube videos and even attended the 2019 Trader & Investor Summit. Sometime between September and November 2019, after nine months of garbage trades and back to back red months, I’d decided to stray off of the beaten path to find what would work for me. I had no idea how long it would take and I certainly wasn’t going to start counting the days, but all I could do was build on the things that made sense along the way. It all started with FNMA. I’d noticed how clean and clear the chart was while Tim Grittani traded it on “Trading Tickers”. It was almost magical compared to the choppy and violent low float/low market cap penny stocks that are typically traded in the chat room. How could I find consistent price-action like FNMA? It slowly became clear that I could only find this with slow-moving Small/Mid (but usually Large) Cap stocks. I now filter my scan to only include tickers trading at least three-million shares per day on average, with market caps above one-billion. I am also targeting tickers between $20 and $100. The price-action gets cleaner and safer as the market cap goes up, but the higher prices are the key to their ultra-clear trends. I suspect that this is due to the lack of penny stock gamblers and beginner traders that would typically either scoff at prices that high or simply find their charts not volatile enough for big profits on small accounts; since the volume isn’t even that busy on one-minute candles, yet the price-action is still so easily trade-able. It almost feels like I’m with a smaller, more exclusive group of traders that are shooting fish in a barrel and clinking beers. SIDENOTE: One thing I’ve always heard is that Large-Cap stocks are “impossible to trade”, because of “all the algorithmic bots” that play emotional games to shake out real traders. Perhaps I have never dealt with this due to my not using Time & Sales or Level 2 and now using wide “Dual-SMAs” for customized entry and exit signals. Any shakeout games are typically caught BETWEEN the two SMAs, leaving my own personal entry/exit signals BEYOND both SMA only (more on that later). Then came a CHANCE discovery of Heikin Ashi candles, while perusing YouTube in bed, around 3am one night. These have “turned on the lights” for me. Suddenly, the crappy and unpredictable candlestick charts that I’d been trained to follow now made perfect sense; providing obvious trends which paired PERFECTLY with the slower-moving stocks that I’d grown to love. After figuring out which stocks to focus on and how to read them, I’d now needed proper entry and exit signals. That’s when the third leg of the journey started: determining which indicators to use. I’d eventually settle on TWO SMA lines, buying and shorting only when the price-action was beyond BOTH. While the first SMA was tight enough to provide early entry and exit signals, the second SMA was wide enough to give sort of a “second opinion” on whether or not the trend had truly changed. Making them both the same color, their constant intertwining keeps the strategy consistent for both long and short plays. While I’ve had to tweak them to find which lengths are best, the most consistently profitable signals seem to come from the 100 and 125 Combo on 1-minute charts. The fourth objective was to create a method for finding the tickers which would give me the most profit potential. These past two weeks, I’d dabbled with using earnings and news as catalysts. While both are effective, the most consistent method for MY strategy has been to simply sort my scanner by the Highest Average Daily Range. The logic here is that it doesn’t matter WHY the stock is moving, but only where from, where to and most importantly: how FAR it consistently goes. Sorting by Highest ADR focuses me on the tickers that have consistently PROVEN to provide ample range for big profits on even small share counts. At that point, I can simply choose the charts with the cleanest and clearest trends, following the Dual SMAs for each run. The last objective was to confirm the safest yet most profitable risk-management strategy. Trading the most volatile slow-movers, I’d needed a stop-out that was both comfortable and wide enough to rarely be triggered. At the same time, I needed a share-count that would still provide enough profits to make the trades worthwhile. I’d gone back and forth between sizing-in twice and sticking to single entries; but struggled with deciding on how many shares to use and at what price range. In the end, I settled on using two single-entry positions of 125 shares with a 1.00 stop-out (on two simultaneous Highest ADR tickers). I’ve found that sticking with this static share-count and price range not only provides me with a consistent flow of clean and clear (yet volatile) tickers, but also allows me to always utilize the exact same risk-management approach for every trade. I can always use the same stop-out and expect the same profits for every dollar-per-share that is earned. Also, using the “Dual-SMA” approach and back-testing on multiple tickers, the 1.00 stop-out is almost never triggered before the SMA reversal; meaning that I’ll typically be exiting the trade on the technical signal before the max loss. At the same time, raising the price range and setting the ADR minimum filter to 3.00+ gives me tickers that consistently provide a 5:1 or even 10:1 risk/reward throughout each day. The key has always been and will continue to be focusing on CLEAN AND CLEAR price-action, with tickers that have consistently flowing all-day runs/cracks. Sometimes the tickers provide a few dollars in each direction or all in a single direction, but the “Dual SMA” system has been guiding my entries and exits in a way that avoids both shakeouts and premature profit-takings. Lastly, after 20 months, I’ve finally reached PDT =) ... While I’d known that it was inevitable, my main goal was to confirm a solid strategy that I’d be prepared to fully exploit once the chains were broken. I’m still waiting for the funds to settle, as I suppose that ETrade wants to make sure that I’m good for the deposit before releasing the PDT count. Though, by next week, I expect to be trading on all cylinders and will continue to use day trades until then. After my account is released into the wild, I’ll finally get back to posting trades with charts for review =) #LongTimeComing

Join now or log in to leave a comment
PocketPAT

+2300 (EQT) ::: It's occurred to me that there's definitely more potential in focusing on cheaper stocks (between $10 and $15) with the potential to afford 2000 shares instead of 1000. I'd first noticed this when setting my default size to 1000, but realizing that I was not using all of my equity since the stocks were often between $10 and $15 per share. I typically wouldn't be going "all in"; but with slow-moving Mid-to-Large cap stocks, which only move 1-5 cents per minute, it's almost CRITICAL to use all of my equity with a small account (to realize the most profits). I'll be taking double the gains, with the average single providing $300-500; but I'd have to accept a 5-cent max stop at -100. Stop-outs typically take place on mid and late-day SMA reversals, but I find that I'm typically stopped out on a technical signal well before my actual mental stop. Even still, a -100 stop is well worth the typical gains that most runs seem to provide. I've been tossing around the idea of which method is best for watching stocks. Should I focus on one ticker all day? Switching between a small group of others after SMA alerts? Which time intervals are working best and how many charts should I set up? Should I use the 4-Grid and watch four at the same time? Maybe a 2-Grid? Today, I had a new brilliant idea. I'll pick the "Fantastic Four" during premarket (using TradingView) and set all four 1-Day/1-Minute charts (scaled to show the entire trading day) in full-screen on the LEFT monitor. I'll then shuffle between them using my MacOS "Mission Control" hot corner upon any SMA crack/cross alert. I've been using hot corners for productivity over the years and they're just as priceless as my ability to cycle-click between windows. This allows me to have an unlimited amount of charts in FULL-SCREEN (for ultra-wide perspective) yet easily cycle between them with the flick of my wrist or a single mouse-click. Priceless... I'll also keep all four 3-Day/5-Minute charts on the RIGHT monitor, cycle-clicking between them in full-screen when necessary. This keeps all four charts (eight total) up and ready at ALL TIMES throughout the day; so that I don't have to type or search for watchers after SMA alerts get triggered. I can LITERALLY have both the 1-min and 5-min charts up in full-screen (and pre-scaled) within 1-3 seconds. The only thing I'll have to change is the ticker symbol on ETrade's order entry, as the quantity would always be the same. So, essentially, I can get alerted, pull up the charts, read the play and enter the trade all within about five seconds. Until today, I'd not realized that one could create custom-scaled charts on ThinkorSwim. I was under the impression that the chart views were "pre-sized" only, based on using the magnifying glass. After "pulling" the bottom time-scale left and right, I realized that I could precisely fit the entire trading session of all 1-minute charts in view; meaning that I no longer have to move charts around during the day; I can simply shuffle to the chart in question and immediately see the entire trading day (market open to market close) in 1-Minute ticks... Priceless... Ironically, today was more of an exercise in observation. While I'd thought that I was at the point of "rinse and repeat", I'm reminded that I'll likely always be tweaking my strategy to push the envelope just a little further.

Join now or log in to leave a comment
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 =)

Join now or log in to leave a comment
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

Join now or log in to leave a comment
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

Join now or log in to leave a comment
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. =)

Join now or log in to leave a comment
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.

Join now or log in to leave a comment
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

Join now or log in to leave a comment
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.

Join now or log in to leave a comment
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.

Join now or log in to leave a comment
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

Join now or log in to leave a comment
PocketPAT

Since discovering Heiken Ashi candles, I've decided to try out a new equity split. I'll ONLY trade Support Dip Buys with $3,000 (one entry, no sizing in) for three individual trades at both ETrade and TDAmeritrade. This effectively gives me SIX $3,000 trades per week. Since WeBull allows unlimited sizing into each day trade, I'll size-in over there from $3,000 to $9,000 for three Premarket Gap-Down Shorts each week. Even though ETrade has the most easy-to-borrow shorts of the three, I'll just take what I can find at WeBull, since this equity split gives me the best weekly profit potential. Heiken Ashi candles make these two setups so much clearer than ever before and there aren't perfect short setups every day; so I'll stick to small singles on Dip Buys at support and wait for the perfect short setups to size into full positions. #StrategyandExecution

Join now or log in to leave a comment
PocketPAT

Raising my price-target to $50 after seeing Jack profit $20k this past week. One of his trades was on a stock near $30. My primary goal now is to add as many good charts to my watchlist as possible. The more options I have each day, the more potential plays I can take advantage of. With WeBull having much less shorts than ETrade, especially easy-to-borrow, I need quick access to as many alternatives as I can find. Tickers I can't short at WeBull may have related stocks that have shares to short in a pinch. I've stumbled upon many tickers like CMS during my scans early this morning. Higher priced tickers with CLEANER charts and easy-to-borrow shares available, that I otherwise wouldn't even have been watching. I could have managed $675 in profits had I shorted on the initial crack and held all day til the close. LEAVE NO STONE UNTURNED!!!! Now more than ever, people will challenge your focus on stocks; but stay the path and never deviate from the three rules: wide stop, never chase, take profits. Only the best setups. #KillMeFirst

Join now or log in to leave a comment
PocketPAT

Just discovered that I can view my watchlist in mini-charts on WeBull, instead of lists that I'd have to process through numbers, having to click-through for chart-by-chart..... *sigh* WeBull is sooo awesome in EVERY way--- except for when it matters! I'm bouncing ideas around to see if I can avoid doing the three-broker split...... lol I'm gonna really try to make it make sense. Smh. ----- 9:06AM: I've decided to just suck it up and stick with ETrade and WeBull (still sizing in 1/3 on each from $2,500 to $7,500). It's just gonna have to be part of the process. Keeping one watchlist, where I'll just look for the best plays and see if they're easy to borrow on WeBull. If I do it early enough (like at 9am now, as I'm wasting time), I can still plan ahead. It only takes a minute to determine the shortability of a ticker once I've decided that it's a contender. Perhaps I was just upset that I was so close, but yet, there was even more to learn; as there always will be.

Join now or log in to leave a comment
PocketPAT

I've decided to change my trading format, as I'm still working out the technical kinks of both shorting and using multiple platforms. WeBull doesn't seem to have consistent or definitive rules on which stocks are shortable or which ones are hard-to-borrow, so I'll only be using them once per week. When building watchlists, WeBull showed CZR as "easy to borrow" until I got a "hard-to-borrow" pop-up on a test order. It wasn't until I restarted the program that it updated to now show CZR as "hard-to-borrow". That's unreliable when I'm trying to plan trades, but the software isn't giving accurate and real-time information on what shares are available to short and the terms enforced. The other four days of the week will now be split between ETrade and TDAmeritrade. Both have far more easy-to-borrow shorts available over WeBull and so I'll see how things work with using two trades on Monday, one on Tuesday (at ETrade); two trades on Wednesday, one on Thursday (at TDA); followed by just one at WeBull on Friday. I currently have $16,000 in equity; so I'll leave $3,000 at WeBull, splitting the other $13,000 between ETrade and TDA. I'll size in half/half on Monday/Wednesday with $3,000 to $6,000 and just use $3,000 on Tuesday/Thursday/Friday. Every time you face an obstacle, chances are there's a way around it.

Join now or log in to leave a comment
PocketPAT

Small stop out on an FTI short this morning. Very excited to have shorted for the first time at ETrade =) . My main focus is building a set of rules. I know that it's not an exact science, but it can typically be pretty close. Though the market was red all day, it was predictably bouncing from support. Understanding that almost all stocks follow the market, it could have signaled a long direction to me. But it's complicated, because there have been market opens at SPY support just like today; where stocks like FTI bounced and then fell further. Perfect example is the dump on 03/09, where the SPY rallied from support at market open, but FTI dumped all day after the failed bounce. Perhaps the FED injecting 1.5 trillion this morning made the difference? I'd also considered that, if a ticker is down 20% at premarket, how much further can you expect it to fall? This was overridden by the fact that FTI among others still had the best setups for further downside. I could have easily reversed my direction after the resistance break and taken the full run til 12pm, but...... I decided to observe for the future. Best to only take trades that you've planned ahead of time. This brings me to another thought that I'd considered: maybe I shouldn't enter my first short order at the failed bounce, but instead wait for the failed bounce's support break; where I would normally be entering my 2nd of three size-in orders. I'd be sacrificing maybe 5-10 cents of potential profit, but it would essentially put me in a better position to confirm that the setup is going in my direction. I'll test this method and see how it turns out. Had I went long on the FTI, I coulda woulda shoulda made $405 today. The key to me is figuring out and reinforcing the WHY on price-action. If you can figure out the why, you can see it all coming =)

Join now or log in to leave a comment
PocketPAT

LOL StocksToTrade AND WeBull both locked up!!!!!! Smh Amazing!!! Bloomberg's "expert" sounds desperate on the phone, saying "DON'T BUY THESE DIPS". Sheeeesh. TDA is still alerting, so I can tell that the world is still alive. ---- Short alerts now flooding in as levels are broken, literally 10-15 alerts per minute LOL. STT crashed. ----- WHAT!!! SPXU HALTED BOOOOOOOOOOO #UnAmerican ----- 9:41AM: Oooooooooh, I'm a noob. So everything locked up because of the market circuit breaker trading halt at -7% (Thanks THINKORSWIM for the pop-up smh STT!!! ETrade!!! WeBull!!! :::hiss:::). Wish I was still in the Profit.ly chat for this pandemonium. This is remarkable =) #History

Join now or log in to leave a comment
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.

Join now or log in to leave a comment
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

Join now or log in to leave a comment
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 =)

Join now or log in to leave a comment
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

Join now or log in to leave a comment
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

Join now or log in to leave a comment
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

Join now or log in to leave a comment
Page
of 9