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Wednesday, February 25, 2015

BNFT long trade same old boring set up

My motto today was keep trading less and execute well only the simplest and most boring set ups.
So I did only 2 trades long on BNFT

BNFT was just like ANGI  BIOC last two days.
This set up, going long stock ( ABCD called by some gurus) proves great risk reward ratio.
After trading and writing all sorts of scenarios , keeping track of what works and what doesn't, trading size that kept my account safe, a certain thing have been  sticking out repetitively over and over again.
The mistakes become obvious, the good  moves  stick out to the surface.
Writing them and read back is the key.
 I reflect after each trading day , after each trade, by trading  less I gain by far more and more.

To recap what I need for a good trade:
1) Big mover  on big above average volume
2) Obey intra day trend /higher lows, higher highs, vice verse,/
3) Daily major support resistances for  major inflection points to target low risk entries.
4) Defined areas of risk and religiously obeying it

Why I need this ?
I explained here in my email to my buddy that I published it as my first post


Picture is worth million  words  so here is BNFT long trade, comments are all posted on twitter real time

BNFT first long 34.25

BNFT trailing stop 35.00  


BNFT focusing on new entry for long. Patiently waiting to come closer to 34.00 daily support

BNFT long 34.80ish . Id say this is chase in a hindsight , but when I entered didn look like chase Im far from perfect but trying hard , stop 34.00 area

BNFT managet to sweat out this drop having the vision .Experience ?

BNFT trailed stop without emotions today, pure price action at its best. Took decent gain

BNFT daily                                   1 Minute      



Resemblance ? The patience  to wait for same thing to happen over and over again  improved my trading tremendously.
Who cares about the ticker 
Who cares about the ticker 
Who cares about the ticker 

That is my favorite long set up , and this is My Favorite Short Set Up
And I stick to what works the best for me . 

Tip for my buddies:
 If you dont know how to find big mover, research the volume pre market and first minutes from the open or simply trade the ones that have been on big volume a day or week prior, overextended, confirm the vol today to be  as close or higher then the prev days

Rince and repeat tomorrow again the same thing. Boring but it works for me.

Salute !

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