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 .
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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