Learning
IF ONLY I Checked the Pre-Market... Daytrading RECAP 04/13/20Hi traders,
Hope you enjoyed the holidays as much as the lockdown allowed you to! Let's take a closer look at one of my Monday trades.
*In my ID trades, I risk 1% of the account per trade and go for 2% (2:1 RRR ). Sometimes I adapt a little bit as you can see in the description.*
SPY was down for the first 1.5 hours and then retraced, spending the better part of the day in a range.
Four trades today:
1) RCL - SHORT @34.83, closed just before the close after it ranged all day together with the SPY for +1.43%
2) SABR - SHORT @5.59, did a couple of mistakes I discuss in-depth in the video. -1%
3) PAA - LONG @6.31, a nice cup and a handle formation, albeit a little extended. It pulled down with the SPY before finally taking off without me. -1%
4) MU - LONG @45.49, initially a short idea, MU turned quite strong later in the day. Similarly to PAA it shook me out before making the anticipated move. -1%
Total PnL for the day: -1.57%
Total PnL for the week: -1.57%
Good trades,
Tom | FINEIGHT
What I Think About TA, And Why I Love ItJust wanted to do a short video on the Bitcoin chart about how I feel about TA - what I think it is and also why I find it interesting. I hope someone finds this video interesting as well, and I'm curious to hear people's thoughts.
This is not financial advice. This is purely an educational video, and it's based on my own observations, assumptions, and opinions.
-Victor Cobra
Phase Changes & Events So at one point in this video I get a bit mixed up in my thoughts. I think most publishers would delete it and not share it; but I'm not interestedd in protecting myself. I go off on a pretty long rabbit trail about Support and Resistance areas creating the phase changes that we're looking for. It is an important concept; and I think despite me mixing myself up at one point - I think I should share it with you
I hope you feel the same way. I hope you learned something with me!