Well it's been a while it would seem. I didn't post here in november, but i'm still going, and i'm feeling like i'm onto something with this trading thing, I havn't really come on here because i'm in a hard point this time. really mostly so i can look at my trade's so i can write them down onto my spreadsheet. I've given up on panic dip buy's, if i'm bored and that's the only thing on my watchlist then i'll play them, but otherwise they are less than a D tier play. I still want to see if i can make an edge out of it over time but that's not gonna be my top priority. the most recent big thing with my trading has been joining john pappa's webinar's, this guy... In the last year i've taken 3 pages of written note's since march. then in 7 webinar's i'm suddenly taking enough note's to get sore wrist's. (my main education rule is that anytime i hear a trader say something i don't currenttly understand i'll take note's on it on paper, or will look it up/ research it on google.) one day i asked a question that got a great response, and glossing over the detail's i'm actually willing to take trade's on pattern's that i don't have any data/chart time on. so that's gonna be scary. the three that i chose to experiment on are overextended gap down, reversal long, and otc first green day. based off how terrible i was at panic dip buy I'm pretty sure that these pattern's will all match my personality wayyyyyy better. I'm currently working on updating my own personal trade log, so that's fun. well toodle's, i'm gonna do it, to fucking hell if i don't!
since september i've been getting more and more frustrated with panic dip buy's, currently i find that i'm hesitating 5-10 seconds before i'm pulling the trigger which is why i'm not getting fill's. so i've started to learn a few new patterns. i've got grittany's doji day one on standbye. i've backtested it this past week and now have enough samples to be willing to trade it, and i should have my money in tradezero so i can actually locate stock's to short. also now that we are going into earning's season i've started and am prepared to learn how to play earning's winner's... there is a surprising amount of trepidation in me about actually learning a pattern that require's the front side of the move. i don't even know how i should track it! like i'm thinking that i just track the stock's that gap 5% day one on earning's and use the open price as my entry and risk estimation's while also using the high's of the second morning as my exit price. but from there, i've no clue what data might be interesting or fun to collect. right now i'm expecting to shut down this account so i can afford a backtesting service next month so i can just test a few pattern's all at once. well mabey i just downgrade to trade alerts so i have the chat room. but i don't know what to decide yet, overall though i think syke's has me oriented the right way, and all i need is a small monthly resource of backtesting to get me to the next level. this has been a journey. right now i'll say that my emotions have basically been hopefull almost every morning for the last 2 or 3 weeks and i'm excited each day to a certain extent. though i just looked at my bank account yesterday and it was looking really stark cause i've been pushing money around so i can open these new account's for shorting. though i still had a great day overall. i don't know who's reading these, but if it give's you mindset on someone who's succeeded at the game in the future. great! if it show's you the thought's of just another loser? well that's probably good insight too. goodbye.
well a lot's happened since my last update. essentially i went on a long streak where i was in one of my more recent addictions from about a year ago... minecraft. i essentially wasted a decent chunk of july and half of august on it. though the addicition wasn't nearly as bad as the first time i got it.... that time it was a six month stretch where i could do nothing but play minecraft. Ironically i got out of that addiction the same way as i got out of it this time, which is planning to move out of my parent's house. surprisingly when i devote some time to figuring out a plan and budgeting to move out of the house it get's me extra motivated to stop wasting my time. so basically the thought that i had last night was what do i need to see in my trading to prevent me from needing a job to pay for my move out? well first off it'll take me at least 2 month's to prove that i can be consistent enough to prove that i can size up enough to pay for a small 1k monthly budget to move to and live in mexico. if i donn't have a consistent streak over 15 trade's on panic's within the next two month's i'm gonna haftah get a job. if i'm not consistently green over those trade's then i'm gonna need to get a job to pay for the move. so i'm essentially planning to be ready to move by december 31st. though it probably mean's absolutely nothing to anyone reading this, to me this is my motivation i've found and since asking these question's i feel no desire at all to waste my time on minecraft. and overall feel hopefull about trading again. a big focus of mine for my panic's right now to make this happen is that i just NEED to pop a viagra and grow a pair. i think i'll adopt grittany's risk management structure to get by this fear of trading i have. perhap's if i define my fear and keep to it i'll show me that being scared to trade a setup that i have quite a bit of experience in is pretty ludicrous.
so this wall has alway's helped me get my thinking together so i'm posting today about how my motivation has been flagging a little *cough LOT *cough. lately. i'm still working at becoming a consistent trader, but i'm just finding it really difficult to keep studying, or to keep looking for pattern's amongst the panic's. which is the only setup that i'm looking either at or for. i'm starting to get to the point where it is only refining on my ability to read level two and read the t and s. and getting to the point where i'm confident with clicking the button. granted the last point is nowhere near yet. i'm still very nervous half the time to click. last friday i had a good trade opportunity which i didn't take despite it being a great setup on a multiday runner just like i like. and it was mostly me being nervous about taking a setup within a daily chart pattern that i havn't explicitly seen before. granted that this is a decision that is often well regarded amongst other trader's. but back to the point at hand. I wonder if this modicum of successwhere i'm buying at reasonably decent spots is hurting me in that i'm not getting optimised (by learning from and mostly analysing) chart's to generate new trading idea's. beat's me. i have been thnding to think that it's a temporary thing though due to my decision to drop my polytphasic sleep schedule this last week, which could be it very easily. we'll see though.
ahhh i remember that last post, simply put, i wasn't so certain that i should give up on the morning panic's quite yet, so i took a few day's to see what a few other trader's were saying about the concept of abandoning ship on a pattern that you're close on. well kellogg mentioned that he would move on to learn another play, and i almost did, by the way he has some great video lesson's here on profit.ly i would recommend checking them out, but also i was going through some video's on youtube, and i found a interview of kyle william's with tim bohen, and it was a ray of sunshine. kyle talked about how he actually traded these thing's and bohen asked him how he set his risk? just the low of day crack? and kyle agreed! so i discovered that i needed to mess around with how i'm setting risk and planning before i'm entering a trade.(before i would mannually analyse all the different support and resistance level's the chart's revealed so i could determine where all the good buy and sell points were). so i decided that this month's goal would be to refine a intraday, daily, monthly, yearly review process, including a concrete process on how stock's move from scanner's and into my watchlist's, and developing a separate, specific process to explain what i'm doing while i'm watching a stock panic, which i later dubbed the button process cause it give's me the permission to click the button. button process: 1. chart: do i like the daily and 1 minute chart pattern, does it match the price action i've seen from good panic's and bounces in the past? 2. set the plan, how far down has it panic'd? set risk reward, set a buy price? (this is done at some point while the stock is panicing.) (lately i've been experimenting with different way's of doing this, i've tried manually checking to see if the risk reward is good, but it take's too long, so today i've tried eyeballing it, and it seemed to work ok, and i was freed up to look closer at the different support ressistance line's. ) 3. how do the volume candle's look? i have been using this to confirm my theory, if it's not perfect i will still buy. 4. get my order ready on schwab so all i have to do is click, or slightly modify the order if i have to. 5. level two, is the bid stacked? 6. emotion, is my mood in a state where i can respond to what the chart's gonna reveal to me? 7. click the button. i can already see the promise of doing it this way, and i've been practicing going through it on my screenshotted charts. it can be done pretty quickly. the review process for going from scanner to watch list isn't important nor novel so i didn't include it.
i've been attempting to learn morning panic's since the start of march. something tell's me that i'm chasing, but also i'm not so comfortable with trading morning run's, but i also acknowledge that i'm way too comfortable with staying within my lane and that is hurting me too. though i can't say that i regret focusing for these past 3 month's , cause that focus is what is needed to learn a new pattern. although perhap's what i need to do is get to a "closing point" where i can stop with morning panic's so that i can go back to them at a later date. that would be pretty simple i think, i would just need to get my panic's screenshot's taken all 173 of them -__- but if that's what it take's for me to move on... also this would probably be more of a delay tactic than anything else. i think what i truly need to learn is the breakout price action. as far as whether that is in a morning spike or a earning's breakout or a contract winner or a new's play. i don't know. but so far i'm doing pretty good with downside play's. and i'm not interested in shorting. so i need to learn an upside play. simple. though i would rather not learn another momentum play cause i've sucked at this last one what would be a innefficiency play that happen's intraday? well it doesn't, innefficiency play's are pretty much defined by o/n. so that would probably mean a earning's o/n play. yes let's look that up. we are absolutely approaching into the earning's season. so i want to get stat's on how often they gap after their first green. not to mention that i would need to actually get a read.... well i think that i've decided to very simply move on to breakout's and even more simply to answer the question, what does certain catalysts do for the markup periods for these stock's? how often do they gap up and is there an edge there? what do the chart pattern's look like overall? allthough if you have read thus far i would be amazed at your resolve to read through the rambling's that i myself find irritating to read.
i've been having a harder time getting the motivation lately, these last two week's i've been doing the bare minimum, of just entering in data, and working with the only few play's that are worth my eye's. studying has gone to a standstill, and it's kinda irritating. but at the same time it seem's like i'm looking at all the play's that are actually doing anything. after GGII has gone down to nothing it's been rather boring as there's not much else, mjwl while being decent has been a weird play in it's own right. though not in a bad way, just behaved a little differently on it's first few day's and panic's. today's panic did behave perfectly though as it had nice cracking action, didn't go down as far as i wanted, but if i didn't feel like crap i'd have my trading software open and ready to go, but wheni saw thit it was the perfect panic it was allready too late. these momentum play's are irritating, and i'm not sure i'm gonna be able to keep watching them forevor. i want to start focusing on more innefficiency play's which i can be by far more relaxed on timing. the only one i can think of is a earning's winner. i'm still not trusting otc gap up's cause i just don't like how many of these thing's are gapping down on day two. i've thought of morning spike's, but i've also no way of finding the new's. i'm not willinng to spend 300 on stt breaking new's. so earning's play's are the only thing i can think of. which mean's that i'm gonna need to get some data real quick cause earning's season is only a week or two away. i knnow that's the right thing to do, but i still find myself watching youtube for hour's a day and not getting it done. it's a steep contrast to previous time's when i've needed a break. i think the allure of otc gap up's kept me interested. cause they were a fun little pattern.
i've been researching GGII today and so far i can see why it would be interesting to be just researching these stock's. it's like a major who-done-it. lately i've been bashing these people on twitter that seem like promoter's to me. this guy Full P3NNY Alchemist he has been pumping ggii since at least the third before the big run up and i'm so certain he's a pumper, but i can't prove it... either way i bashed him for thinking that the stock was out of date with the SEC. We had about 6 text's spaced over an hour or so. but it's interesting. cause i alway's thought that the SEC'S were the only disclosure's that mattered and otcmarket's disclosure's were nonmaterial. because i tried to bash him on this i learned something that i hadn't even thought to research. and found out that disclosure's are a big thing that otcmarket's does. and that they are also essentially supervised BY the sec. and that they are held to the same standard's of accuracy. though they need far less information total. i'm still 80% certain that GGII is a pump, it's too convenient that two month's ago the reserved share's owned by this craig fischer opened up, and now it's up soooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo much. it's just a coinqi-dink if not. but it's something. otherwise it's been nice, trading again. yeah. that's where i'm gonna leave it. bashing people on twitter i think are promoter's is gonna continue, because i think that their certainty will allow them to enjoy a friendly argument, and i'll both be forced to ask certain question's i've never thought of before, oh, not to mention i enjoyed it too. less so when I realized that i made a bit of and ass of myself. again. but oh well. that's trading. meditate and accept it as part of the process.
soo i finally figured out how to update my trade's today, so up to date. the only difference is that i made a trade of a ETF when covid hit and made 2k on it selling a year later. i believe i had $3500 in the trade so it's roughly 30% in a year. the reason i don't want to add it to the trade's list is cause i want to look like a rookie in chat cause that's what i am. these trade's i show are all what have been really short term really handa's on trade's. well other than the etrade trade's. those were not truly truly real. cause i was just trying to get to my limit needed to get etrade pro. but i suppose they count enoughcause i added them anyway's. fidelity for free otc's is my main.
I have done my FIRST TRADE, TIPT(Tiptree Inc.) of NASDAQ, was not on my watchlist. Just from price action I decided to buy today April 21st 2021 around 1:22pm of 100 shares @13.75 and Sold around 1:30pm for 13.95 for 0.20 c profit. About 8 min from 100 shares got $17.98 profit. It was scary and exciting both on my nerve. I am happy to stay green so far on my first trade. Long way to go.
nice! i've been fallowing right behind you in the video lesson list, so i know how hard you've been studying!
Great. Thank you.
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