rogerstt2020

My goal is to refine my process so that I can comfortably use contingent and conditional sales orders to execute my trades and set stop loss and target. I want to be able to let these play out. I create contingent sales orders (to execute buy) and conditional sales orders (stop limit and target) and I have been letting them play out unless I feel that I have an obvious loser and I cut. Don't laugh but I use only a 1 to 1 RR ratio and I use a tight risk based on Oracle S&R. The market doesn't generally yield much more lately. On a month to date basis, I have made 70 trades. I had 42 (60%) green trades and 28 (40%) losing trades. I was stopped out on 20 (71.4%) losing trades and I cut losses before I was stopped out on 8 (28.6%) other losing trades. I had 42 winning trades. I hit my target on 23 (54.8%) and my limit sales order executed at my target level. I also had lesser profit on 19 trades (45.2%). I have been day trading since November 2020. By September 2021 I had managed to lose $5,100. I took TraderBryce['s suggestion and sized down, maintain a spreadsheet, keep a journal and enter my trades in Profit.ly. I became a Challenge Student in November 2021. I have also been a member of the Steady Trade Team since November 2020. Both Tim Sykes and Tim Bohen are awesome traders with their own styles. Both are straight shooters, give you no BS and have absolutely AWESOME work ethics. Their chat rooms are also an excellent source of information and inspiration.

Received 2 Karmas
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rogerstt2020

My goal is to refine my process so that I can comfortably use contingent and conditional sales orders to execute my trades and set stop loss and target. I want to be able to let these play out. I create contingent sales orders (to execute buy) and conditional sales orders (stop limit and target) and I have been letting them play out unless I feel that I have an obvious loser and I cut. Don't laugh but I use only a 1 to 1 RR ratio and I use a tight risk based on Oracle S&R. The market doesn't generally yield much more lately. On a month to date basis, I have made 70 trades. I had 42 (60%) green trades and 28 (40%) losing trades. I was stopped out on 20 (71.4%) losing trades and I cut losses before I was stopped out on 8 (28.6%) other losing trades. I had 42 winning trades. I hit my target on 23 (54.8%) and my limit sales order executed at my target level. I also had lesser profit on 19 trades (45.2%). I have been day trading since November 2020. By September 2021 I had managed to lose $5,100. I took TraderBryce['s suggestion and sized down, maintain a spreadsheet, keep a journal and enter my trades in Profit.ly. I became a Challenge Student in November 2021. I have also been a member of the Steady Trade Team since November 2020. Both Tim Sykes and Tim Bohen are awesome traders with their own styles. Both are straight shooters, give you no BS and have absolutely AWESOME work ethics. Their chat rooms are also an excellent source of information and inspiration.

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timothysykes

MUST READ NEW BLOG POST: https://tim.ly/karan featuring a very special student named Karan, please congratulate him and retweet him here too: https://tim.ly/3H7uau7

rogerstt2020
rogerstt2020 Dec 23, 21 1:29 PM

Congrats to Karan. I don't short stocks. I'm still learning how to buy long. Plus, low float stocks with unusual volume are very volatile. Some are up several hundred percent in one day. Not a good time to short.

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rogerstt2020

Not a great week. S&P down almost 2% and sustained spikes were rare. I trade very small to limit risk while learning. Made 13 trades and lost on 11 (unusual). I ended this week with a loss of $228. Lack discipline to have the patience I need to enter and exit at key levels. Probably was a tough week for a lot of traders. I continue to update and improve the process I use to trade. Learning how to leverage Google Sheets with Pivot tables to help track data. Watching and re-watching webinars. I feel like I am improving but my P&L doesn't show it yet.

Received 2 Karmas
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rogerstt2020

I joined the Millionaire Challenge the last week of October 2020. Today, I experienced my first day of profit over $500. My account is now green. I made 477 trades and I have and continue to learn how to be a better trader. I realize I didn't make bank but at least I know that I can make $500. I am slowly increasing my size. I am also trying to do a much better job of letting the trades play out according to my plan. I am learning how to accept losses if my mental stop loss is reached. I didn't realize that day trading would be such an emotional roller coaster.

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rogerstt2020

I feel like I am actually starting to climb up the learning curve. I was amazed when one stock spiked up on news that the stock price and market cap were too high. They go up when there is news that the company is being investigated. I am learning to accept reality and react properly.

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austinharley

Not sure if I'm looking at this correctly, but it seems that there is a dip buy almost every drop in $SLS today around Dec. 15th, Dec. 14th, December 11th. It increases about $1.5-$2 each time. Could someone confirm I am looking at this pattern correctly?

rogerstt2020
1
rogerstt2020 Dec 16, 20 5:28 PM

@austinharley I joined our team in October; however, usually set the vwap indicator to on to make sure that the stock is above vwap. Also, your stock is trending down and I personally would not make a dip buy while the is descending in price. We do have some "REAL" traders on our team. Watch tons of Tim's videos. Welcome to the team.

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rogerstt2020

Today was another frustrating day. I trade the right stocks however I accidently purchased 1,000 shares of FPAY instead of 100 shares. This increased my loss over $65. I also failed to follow Rule #1 and I sold two stocks at a 15% loss each. The choppy stocks are difficult for me to trade. I felt confident that the stocks I traded like NNDM, EVK and LIZI would be up for the day; however, they dip more than 5% and I exit early. I am learning from my mistakes and stupidity.

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rogerstt2020

Today was very frustrating. I spent the entire weekend listening to videos and taking notes. I rated the stocks on my watchlist and spent more time preparing for the day. I started the day with several losses and I should have gone back to studying. I did take a break for a couple of hours to l listen to more videos. However, I reviewed our chat room and I did trade based on a couple of these alerts. My very last trade was OBLG and trading was halted and when trading resumed the stock tanked. I won't give up. I believe that the time I spend studying will pay off in the long run.

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