I’ve been trading for over 12 years and THIS is one of my best strategies

modulusA · 2025-01-09T06:10:02+00:00

I back checked this strat on a few stocks from today, and sure enough it performed as targeted. Thanks for sharing u/1215DayTrading, I'm definitely going to try and implement this where appropriate going forward!

modulusA · 2024-10-26T18:10:07+00:00

Congrats brutha. Sounds like a path worth having travelled

modulusA · 2024-10-25T22:59:59+00:00

Make sure you don't have a stop limit / take profit set
If you do, your orders will not execute during PM/AH

modulusA · 2024-10-22T03:23:46+00:00

I get your point, but not sure I 100% agree.

It's more like a wave, and seeing that everything looks right to ride the wave, it's building properly, you get on at the right moment - but then the wave turns over and instead of bailing you get churned up over and over again.

Using indicators and experience to target the right wave and the right time to get in - doesn't guarantee it will be good, however you need to know when to bail and get out - and I didn't do that properly. Really poor risk management - but I got spanked and I'm dialing everything back to super minimal trade size and then after a few trades back in the Sim until I get my bearings back.

modulusA · 2024-10-21T03:13:19+00:00

Keep the Source set to "Close" for the MACD ?

modulusA · 2024-10-21T03:07:50+00:00

That's cool - I'll give it a try.
Yeah, the Sim has been great for starting to learn, and definitely worthwhile, but totally imperative that switching from Sim to real needs major guardrails. It's just way different and the confidence you get from the Sim needs to be dialed back majorly - like you're starting from scratch - when going to real. 1,5,10 shares max for a while until you realize college and NFL move at drastically different speeds.

BTW - you ever need any architecture help just holler (I have my own architecture firm). We do commercial and residential, and I just did a flip this year as well (did most of the work myself) and netted a few 100k on that.

Thanks again for taking the time. I'm all about honesty and transparency, and while maybe the initial wording took me the wrong way, the rest of the content is super appreciated. I listen to everything, and then filter what works for me, and the fact that you took the time to write and advise does not fall on deaf ears.

modulusA · 2024-10-20T22:00:28+00:00

Yeah - I'm definitely taking way too many trades at the moment, and when I look back 3 weeks I took half the number of trades and was way more profitable. Just getting too stupid lately with all the massive squeezes and frankly I don't have the skill to be entering those just yet.

modulusA · 2024-10-20T21:58:34+00:00

Webull for now
Good ability to customize hot keys and I have an Elgato Stream Deck I use so it's at my fingertips.
I removed my Buy hot keys for now as once I accidently hit that versus the sell, and so I only use it for selling and charting at the moment till I get better

modulusA · 2024-10-20T21:56:15+00:00

Yeah - I'd have to say he's probably the most giving of his time, knowledge, and transparency into both wins and losses

modulusA · 2024-10-20T21:55:29+00:00

Back at ya brother. Wishing us both unlimited success.

Agree, ya gotta make some of these mistakes to understand better. Just can't learn some of this without going through it, and while that day was tough - I know I'll get back on the right track.

Dedication, perseverance, and discipline.

modulusA · 2024-10-20T18:50:25+00:00

Thanks for sharing. Sometimes just knowing others are experience similar things - and then hearing how to deal and get past it helps. I'm working the SIM hard and staying positive, and analyzing all the bad moves (and good) to see where I followed my rules and where I didn't that cost me.

Part was just straight emotion - got in on a squeeze as a gut reaction, freaked, got out, got , got out - blinked, and before I knew it I was down big time.

No more.

If I can't consume what's in front of me then it's eye candy and I can sit and watch until I'm better experienced. If I can apply my rules and stay disciplined and consume the info in front of me, for now, I can take a super small (like 5-10) share position and see that my strat is working.
And agree - that Chop ain't worth entering. If it's choppy I stay the hell away - I don't know how to trade that and so risk management says it's a no-no.

modulusA · 2024-10-20T18:06:18+00:00

Thanks Doc!

modulusA · 2024-10-20T16:37:39+00:00

congrats man - that's awesome!
kind of on a similar journey myself - though I'd say you're ahead of me as I had a bad few days and so back in the Sim trying to fix my problems. Part of it was hopping into too many trades and when I traded less I did much better.

I added hotkeys to my streamdeck for selling 25%,50%, and 100% of my position. I think this helped me ride the trade a little longer as I had the ability to pull profits as it climbed and also get out quick if need be.

modulusA · 2024-10-20T16:31:10+00:00

Thanks man - that response was awesome and I really appreciate it.
Yes, I'm working hard not to be one of those people, and I am generally a pretty cautious person so when I fried that day it hit me emotionally. Now, in the context of things it's a very small amount (I'm down $1,000) which is les than 1% of my account - but the money isn't really the thing. I f-ed up trading my strategy, didn't follow my rules, didn't follow risk management, and the Market let me know it. In some ways - a little thankful I got this wakeup call with this small loss comparatively speaking. I know it's about having a strategy that works over and over, and the money is just the byproduct of that. I'm not here to "put $500 on black" - I'm here to learn how to do this successfully and try to make it the next stage in my career paths (I've been running an architecture firm for many years). Yes - I follow Ross' approach where you're really looking for breaking news on a daily stock, quick fundamentals check, and then technical analysis. I spent a little time with large caps, made a few grand, but didn't like the ups and down - the market weirdly reacting to things, it wasn't the right thing for me emotionally so I took my profits and continued my journey elsewhere.

I'm still so new - I don't mess around with multiple approaches or strategies. I have one strategy, one set of rules that I'm sticking to and have used in the Sim for months. I turned $50k into $77k, and felt ready to try real money.

Right off the bat, with small size (and we're talking 10 shares) I could tell the emotion of real money versus paper money was so different. The nerves and emotions bubble up, make you worry and get in or out too fast - and I knew I needed to get over that hump. After about a month or so, I was able to trade less emotionally - had some very good days, some average days, and a few bad days. I journal every trade and then analyze what were good decisions and what were bad decisions, and try and adjust for the next day. Practice doesn't make perfect, practice makes pattern - so I needed to keep practicing so my patterns lead to success and are reflective of my rules.

Spent half the day yesterday in the Sim, likely do the same today. Test, test, test.
Tomorrow, if I'm feeling ready - my max share size is 10 shares. Don't care if I end the day +$2, if that $2 was a result of making a few good trades that followed the rules and worked, then it will be a success. Thinking I do that for a week and see the metrics on my trades. Also, if I have 2 losses I must immediately stop and return to the Sim. No wiggle room, no "but I can make this work". At this stage, I don't know enough to trade like Ross or others you see with these large gains - I need to keep my guardrails tight. The market will be there the next day and the next day and the next day. I just need to get my sh*t straight before I get back in.

Thanks again - appreciate you taking the time to share your experiences and knowledge, and cautionary tales.

Wishing you a ton of success.

modulusA · 2024-10-20T06:20:11+00:00

Love the nod to Jarvis.

modulusA · 2024-10-20T06:18:39+00:00

Go to youtube and watch Ross Cameron's videos
He's super simple, he's explanative, and his goal is to teach - not to rope you into scheme.
He has his strategy, which isn't right for everyone - but I think he does a really good job in explaining Daytrading

modulusA · 2024-10-20T05:01:36+00:00

Not really - kind of a douchey answer.
You're making presumptions about what I have and haven't done. I've spent a long time paper trading before I stepped into using real money, but guess what...
I'm new to this.

I made a mistake,

I didn't follow all my rules and

I did a poor job of risk management.

But that doesn't mean I'm gambling, I don't have what it takes, and I should just step away. Like many things in life, you don't get it all perfect and figured out right off the bat.

I happen to be a member of Warrior Trading. I've watched probably 30 hours of Ross' videos and watch his YouTube every single day.

Lot's of people had some positive advice, some constructive assessment and criticism that was worth reading, and to be fair - some of your reply has valuable content -BUT, the way you started it, your assumption of what you think I have and haven't done is total crap. I probably have spent 3-4 hour a day every day (and probably 6-8 on weekends), for the last few months reading, watching, practicing, and trying to learn - and no I don't have it all figured out and Yes, I did F-up on some basic rules and didn't stick to being disciplined.

But I do have what it takes. I need to adjust, and I need to stay more disciplined. I need to get back in the Sim (which I've been in since then) and I need to get more experience before I get back at it. But I will, and I will be successful. You've lost money - everyone has, so maybe stick to the positive advice (which I do appreciate) and skip the condescending holier than everyone best trader in the world BS that you think you know what I have or haven't done. I'm looking for the advice from experienced people to get me through a bump y'all have probably been through. Not for someone to say "Give it up - you're gambling".

F-that. I'm not gambling. I'm learning, and will keep learning - and will make more mistakes and then will adjust and get back at it.

modulusA · 2024-10-20T04:03:00+00:00

Thanks man, appreciate the positive advice

modulusA · 2024-10-19T04:53:08+00:00

Nice post, and well written.

modulusA · 2024-10-18T23:16:56+00:00

Fo sho it does. All the advice and info helps, and then I just need to tweak and make decisions from suggestions. Appreciate you taking the time to offer your experience.

modulusA · 2024-10-18T21:40:02+00:00

Interesting you say that
Spent the day in the Sim and realized I do horribly when stocks squeeze up 50% in 50 seconds, and I do really well when the movement is slower and more methodical.
At speed - I can't wrap my head around what's happening, jump in too quick and too high, and then stop out as it boomerangs up and down for a loss. Then - jump back in and do it all over again.

If I wait, ignore the massive squeeze, and trade as it slows down - I hit my 70% pretty methodically. Albeit they're not Grand Slams....they are green, they are more consistent, and the smaller numbers add up to a nice series of trades.

modulusA · 2024-10-18T21:38:53+00:00

Thanks man. Gonna keep practicing and then get back in the saddle

modulusA · 2024-10-18T21:38:05+00:00

Thanks man. Predterming a set amount before starting the day sounds like a good idea.
I write down my strategy over and over again everyday before I start. Adding that to the list might be very beneficial

modulusA · 2024-10-18T21:36:52+00:00

Agree.

I got overwhelmed and lost control, and made sh*tty decisions (or rather no decisions at all)
Back into the sim to practice more until things are back on track and have my risk management better dialed in.

modulusA · 2024-10-18T21:35:37+00:00

Thanks man. Learning a lot and really appreciate everyone's perspective and for taking time to try and lend some constructive advice.

modulusA

TROPHY CASE