Great Savings

Thursday, February 4, 2016

Red day $SSO $SCTY $ADBE

 I lost so much money trading and during the years of looking, studying and analyzing my losses I figured there are so many ways to make money  trading as there are as many ways to lose.
I could write about and and trade each day one different trading set up and one year may not be enough to explain them all.  The point being is: to be green a trader doesn't really need to know more then one set up. The challenge is that such opportunity that one set up can give, may not come every day, and when it comes it may be a loser , then the frustration grows. One mistake followed by another mistake than another and so on is result of a frustration of having one good losing trade... Then acct may be easily blown away in one day.  It takes very little small mental imbalance to blow a lot of money. I write this just to remind  myself from time to time , because it can happen to any trader,
For starters: mastering and waiting for one set up for some time is essential. You can go through my blog and find many different ways to trade. They do work for me , anybody can modify them to suite their personality, capability, speed. However  I'd say to a novice to stick to one and to just try to make few bucks each day or week from one set up , just to be green for few months before getting into size that "replaces a daily paycheck". I say this because replacing a paycheck with daytradingincome simply ain't gonna happen very quickly. Take my word for it.

ADBE 
This was very nice trigger on so called parabolic drop of the open , more then 3 large consecutive bars drop with each bar having lower lows and lower highs then the prior bar. The triger is the 5th bar high which was a very narrow bar providing very small and well defined risk at below the low of the bar. I just happen to see it  but it can be easily programmed on TC 2000 to scan and find this set up  ( and many others too)
The problem was I did not hit the order correctly went short by mistake and then till reversed to long I missed it and got just few shares filled, but it could have made my day ...It happens to everybody and interesting thing lately I do not get pissed of from making technical mistakes, I just do not care any more ( or at least for now ).  On a  nice liquid stock I'd try to get filled as much as possible shares just because I know the exact risk. This is different then when I am building and scalping position in the biased direction  explained in this older  post here 

ADBE

SSO
55.50 being major level daily pivot high as per my twit, I anticipated possible rally , just to see it crushing on me after I added little bit more shares on the pull back. Got stopped, and once again GREAT TRADE done 100% per plan , taking the loss properly. 
SSO 

SCTY
This was short of off wicked 5 min candle bar below the down-sloping 20 sma, It tested the 20 sma did not close above , the high of the wick was my risk... when got to 1:2 risk reward just  covered it all
SCTY

Salute 
@DaChopa


GES is just a experimental short swing 33 shares from Friday Jan 29 18.41 short  entry ...., testing something 











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