WinAtTrading
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Had on nice trade on PAY on Friday morning, picked up $1
Guess the US is on Holiday on Monday, and I've got a lot of work on the rest of the week so, wont have much time. its difficult to fit daytrading around other businesses. Seems to get you out of the rhythm of it. Anyways its just another challenge that need to be overcome. I'm looking forward to the next time I can trade.
Guess the US is on Holiday on Monday, and I've got a lot of work on the rest of the week so, wont have much time. its difficult to fit daytrading around other businesses. Seems to get you out of the rhythm of it. Anyways its just another challenge that need to be overcome. I'm looking forward to the next time I can trade.
robocop
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Had on nice trade on PAY on Friday morning, picked up $1
Guess the US is on Holiday on Monday, and I've got a lot of work on the rest of the week so, wont have much time. its difficult to fit daytrading around other businesses. Seems to get you out of the rhythm of it. Anyways its just another challenge that need to be overcome. I'm looking forward to the next time I can trade.
Nice trade, good low risk entry and nice exit at the Low of the day. You didn't used the ema as an exit, what did you decide to get in/out the trade?
Cheers,
Robocop
WinAtTrading
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Hi Robocop
I closed the trade based on 2 reasons.
Firstly, there was a big Bar down, larger than all the other bars in the chart. This normally leads to a reversal or at least a pullback. Secondly, I had hit a nice profit on the trade, and wanted to keep it, it was also coming close to lunch time and I dont keep trades after 12noon. When the price moves far away from the moving average, a lot of the time it will be pulled back.
This one worked out well.
Winattrading
robocop
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Out @ 28.46 (risk of return in one bar red)
robocop
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Out @ 68.77 (few seconds before close market)
Last edited:
robocop
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Daysummary
I had some time to trade the last hour of the Tuesday afternoon.
CELG - Bad entry, should have waited until confirmation. It did go in profit, but reversed due the general market was continue to go higher.
SCSS - Good entry, It did got in profit the second I entered the trade, but it didn't showed any continuation. I got out for no good reason than the fear of a three bars trending up, and one bar giving it all way back. It didn't happen now, but I have seen it before.
I did have TROW on my watchlist for the afternoon. This was the only one that should give a moderate profit of ca. 20ct.
Month summary
Near the end of the month I am wondering if I am doing well. I have plotted my P&L in an Excel graph. I have drawn two lines, one including commisions and one without.
I started using a money management technique of risking $200 risk per trade at trade 35, and adjusting position size accordingly. This was the point where I have started to become consistently profitable. I did scale out from the start already (which is another type of money management technique), so the drawdowns were already somewhat flattened out.
Scaling out of a trade does cost more in commissions, but is a trade off between a smoothed equity curve by letting profits run as far as possible and commission costs.
As you can see on the graph the commisions are really eating more than half of my profits! Everything that I can do to lower commissions will raise my profits immediately.
I have also made a scatter plot. A scatter plot plots the P&L of every trade.
As you can see the maximum losses are kept at around $ 200 (when starting to use mm at trade 35), while the profits are not limited.
The maximum drawdown including commission costs is $ 857.
Cheers and wish you goodluck!
Robocop
I had some time to trade the last hour of the Tuesday afternoon.
CELG - Bad entry, should have waited until confirmation. It did go in profit, but reversed due the general market was continue to go higher.
SCSS - Good entry, It did got in profit the second I entered the trade, but it didn't showed any continuation. I got out for no good reason than the fear of a three bars trending up, and one bar giving it all way back. It didn't happen now, but I have seen it before.
I did have TROW on my watchlist for the afternoon. This was the only one that should give a moderate profit of ca. 20ct.
Month summary
Near the end of the month I am wondering if I am doing well. I have plotted my P&L in an Excel graph. I have drawn two lines, one including commisions and one without.
I started using a money management technique of risking $200 risk per trade at trade 35, and adjusting position size accordingly. This was the point where I have started to become consistently profitable. I did scale out from the start already (which is another type of money management technique), so the drawdowns were already somewhat flattened out.
Scaling out of a trade does cost more in commissions, but is a trade off between a smoothed equity curve by letting profits run as far as possible and commission costs.
As you can see on the graph the commisions are really eating more than half of my profits! Everything that I can do to lower commissions will raise my profits immediately.
I have also made a scatter plot. A scatter plot plots the P&L of every trade.
As you can see the maximum losses are kept at around $ 200 (when starting to use mm at trade 35), while the profits are not limited.
The maximum drawdown including commission costs is $ 857.
Cheers and wish you goodluck!
Robocop
WinAtTrading
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In reviewing this strategy, I believe that one of the fundamental factors for profitability is the watch list you use to select the shares to trade.
From previous experience and educational resources, I have a choice of watch list from the following sources...
News announcements
Earnings misses / increases
Scanning
I am in the process of testing which source is the most profitable. Until this month earnings releases where providing the best moves. However since may they have been less effective. So this strategy using earnings releases may be cyclical.
This last month a indicator on tc2000.com has identified all the major morning market moves. Called Volume Buzz. I need to test this indicator for this strategy over the next 3 months to see how it performs under more time.
Other factors that make this strategy profitable include..
Time of the day
The movement of futures
The volume of the share at the time of breakout as indicated by time and sales.
The impact of whole numbers and other major minor resistance support areas
Once you have mastered these skills. The main factor in your success will be the watchlist you are using.
Your watchlist needs to have a finite number of stocks at around 20 stocks. This is enough to not overwhelm you with choice when the trades are setting up. You need to have stocks in this watchlist that have the most chance of making a major move.
Winattrading
From previous experience and educational resources, I have a choice of watch list from the following sources...
News announcements
Earnings misses / increases
Scanning
I am in the process of testing which source is the most profitable. Until this month earnings releases where providing the best moves. However since may they have been less effective. So this strategy using earnings releases may be cyclical.
This last month a indicator on tc2000.com has identified all the major morning market moves. Called Volume Buzz. I need to test this indicator for this strategy over the next 3 months to see how it performs under more time.
Other factors that make this strategy profitable include..
Time of the day
The movement of futures
The volume of the share at the time of breakout as indicated by time and sales.
The impact of whole numbers and other major minor resistance support areas
Once you have mastered these skills. The main factor in your success will be the watchlist you are using.
Your watchlist needs to have a finite number of stocks at around 20 stocks. This is enough to not overwhelm you with choice when the trades are setting up. You need to have stocks in this watchlist that have the most chance of making a major move.
Winattrading
robocop
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@WinAtTrading
Thanks for you comments.
I have done backtesting with news a while ago and included the result in an Excel sheet (see attachment). My conclusion was that it is too much work for little to no edge.
View attachment TradingJournal Nasdaq - backtest with news2.xlsx
And I have done backtesting with ProScreener a while ago.
View attachment TradingJournal Nasdaq with proscreener2.xlsx
My conclusions at the time was that it would not work to trade every breakout, but to use some discretion and to to trade only stocks that are in a real trend (therefore my proscreener filter with ADX), volatility and high ATR. These stocks shows good moves every day, even if you use them for a few days they give good result.
I have included the high ATR filter to trade stocks with good range, so you can start with small blocks and increase blocksize when I becoming better.
The list of stocks is small sometimes, then I lower the AverageTrueRange to have more choice.
A few posts ago I have showed some stocks that tend to do well with this strategy. I like to figure out why that is.
Hope you can help me.
Cheers,
Robin
Thanks for you comments.
I have done backtesting with news a while ago and included the result in an Excel sheet (see attachment). My conclusion was that it is too much work for little to no edge.
View attachment TradingJournal Nasdaq - backtest with news2.xlsx
And I have done backtesting with ProScreener a while ago.
View attachment TradingJournal Nasdaq with proscreener2.xlsx
My conclusions at the time was that it would not work to trade every breakout, but to use some discretion and to to trade only stocks that are in a real trend (therefore my proscreener filter with ADX), volatility and high ATR. These stocks shows good moves every day, even if you use them for a few days they give good result.
I have included the high ATR filter to trade stocks with good range, so you can start with small blocks and increase blocksize when I becoming better.
The list of stocks is small sometimes, then I lower the AverageTrueRange to have more choice.
A few posts ago I have showed some stocks that tend to do well with this strategy. I like to figure out why that is.
Hope you can help me.
Cheers,
Robin
WinAtTrading
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Thanks for the excel files. I'm away on business today, but will take a look at them later.
Some charts that made good trades yesterday from VOLUME BUZZ scan on tc2000..
TEVA
EBAY
CTSH
XRAY
VRSN
CTXS
DTV
AVGO
EXPE
MNST
These are just a few of the from the Nasdaq scan.
You can get access for free (with adverts) to tc2000, give it a go and keep an eye on the volume buzz. It has consistently generated some good trades.
Have a great Day!
robocop
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Stopped out @ 64.51 (is now trading @ 64.63)
robocop
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robocop
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sold other half @ 54.87
robocop
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Sold complete position of 500 shares @ 14.98
