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Sanrith Descartes

Sanrith Descartes

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Shonuff said:
Green at the top on ToS means real trades, brown means paper. $873 on BABA today in about an hour.

I really shit the bed my first two trading days back from vacation. I review the tape, and I would have made the opposite trades. This is why I don't trust myself yet. The tape says I traded like an idiot on Tuesday and Wednesday. If I showed you my trades those two days, and you had a rudimentary knowledge of TA, you'd ask me WTF I was thinking.

All I can do is log WTH happened. I tried to trade from the hotel room with a bunch of screaming kids, and got very little sleep the next day (plane came in late and I had to be up early to meet Employees). I couldn't find shares to short until I got on the HTB program (I can now). I tried to scalp in windows that were too tight. I was impatient.

So I lost about 3,700 (real money) my first two trading days, but made 3,100 since then. Trying to be very careful about revenge trading. I am being more aggressive to get out of a hole, but that can end in disaster. Next week will be more chill. These last two days, I've been trying to hit home runs to make up for getting shut out the first two days of trading.

I haven't had a two day stretch like that in maybe six months. Kinda wanted to make me throw in the towel, to be honest. I think I've corrected my mistakes.
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Honest question. You own a business. As do I. I know the time required to not be an absentee owner. Do you consider the opportunity cost to your business when you are delving into day trading? I am not being "anti-day trader", just looking at it objectively. I know I have missed trades/entries/exits because the phone rang and I picked it up when everyone else was occupied and I wont let my customers go to voicemail if I can help it. Speaking just for me, I "invest" but don't "trade" specifically because all aspects of my business come before the market. Its one reason 80+% of my portfolio is invested in long term buy/holds. It can and does run itself without my assistance.
 
Shonuff

Shonuff

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Sanrith Descartes said:
Honest question. You own a business. As do I. I know the time required to not be an absentee owner. Do you consider the opportunity cost to your business when you are delving into day trading? I am not being "anti-day trader", just looking at it objectively. I know I have missed trades/entries/exits because the phone rang and I picked it up when everyone else was occupied and I wont let my customers go to voicemail if I can help it. Speaking just for me, I "invest" but don't "trade" specifically because all aspects of my business come before the market. Its one reason 80+% of my portfolio is invested in long term buy/holds. It can and does run itself without my assistance.
Click to expand...
I have Employees that have worked for the company pre-dating when I bought it. I'm going to be 51 here in March, I've been training them for years to be able to run it. And my wife works the Office. And I have three brothers that work well together, one is the Main Lead, and the other two are Crew Leaders.
I show up in the AM, go over the paper work and job schedule. I go back to my office and trade for an hour. Then I do check my ad schedules, ad copy and tweak social media metrics. I'm really down to working on the business 20 hours a week anyway.
The main thing I did was run estimates, and I've trained the guys well enough where they are closing at the same rate. Hell, the Lead guy closes at a higher rate than I do now.
I can do this, because they get paid bonuses based on how the company is doing. If they aren't following through, they get no bonus.
My opportunity cost is the cost of having one more worker to pick up the slack. I carry one extra worker to free up the Crew Leaders' time, and he's making $14 an hour.
I experiment paper trading in the last hour, but the reality is I'm done trading by 10 AM CST.
 
Sanrith Descartes

Sanrith Descartes

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Shonuff said:
My opportunity cost is the cost of having one more worker to pick up the slack. I carry one extra worker to free up the Crew Leaders' time, and he's making $14 an hour.
Click to expand...
Fair enough. the area I would question is this statement. My assertion is opportunity cost goes beyond a low skill $14 an hour body and instead gets rolled in to the time I am spending not grinding for additional revenue. That is my #1 gig at this point, driving the revenue growth. As with you, I have employees doing their parts of the business. When I am shitposting on FOH I am between calls to grab more customers.

I was just curious.
 
Sanrith Descartes

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There is a small bright spot in the markets today...

1641583684797.png
 
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Rangoth

Rangoth

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Anyone using Fidelity Active Trader Pro(the desktop app for Fidelity) able to place a contingent(conditional) trade order that is "GTC" good till cancelled on the trigger and action?

I just tried to set one up for a price trigger and then a trailing stop sell and it says "trade service error". Then the exact same trade with the exact same prices using a TIF of "Day" works :(
 
Sanrith Descartes

Sanrith Descartes

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Rangoth said:
Anyone using Fidelity Active Trader Pro(the desktop app for Fidelity) able to place a contingent(conditional) trade order that is "GTC" good till cancelled on the trigger and action?

I just tried to set one up for a price trigger and then a trailing stop sell and it says "trade service error". Then the exact same trade with the exact same prices using a TIF of "Day" works :(
Click to expand...
They changed the whole way trade armor worked and rolled it into conditional trades and I am not a fan. I had that trade armor shit down pat for trailing stops and shit. I havent seen the error you have gotten though.
 
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Shonuff

Shonuff

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Sanrith Descartes said:
Fair enough. the area I would question is this statement. My assertion is opportunity cost goes beyond a low skill $14 an hour body and instead gets rolled in to the time I am spending not grinding for additional revenue. That is my #1 gig at this point, driving the revenue growth. As with you, I have employees doing their parts of the business. When I am shitposting on FOH I am between calls to grab more customers.

I was just curious.
Click to expand...
I'll answer it in my business thread, so I don't derail here.

tldr version: My competitors are brainless. Here is the google impression share for my area, with 200 competitors

Google Nov.JPG
 
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Blazin

Blazin

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Shonuff said:
Green at the top on ToS means real trades, brown means paper. $873 on BABA today in about an hour.

I really shit the bed my first two trading days back from vacation. I review the tape, and I would have made the opposite trades. This is why I don't trust myself yet. The tape says I traded like an idiot on Tuesday and Wednesday. If I showed you my trades those two days, and you had a rudimentary knowledge of TA, you'd ask me WTF I was thinking.

All I can do is log WTH happened. I tried to trade from the hotel room with a bunch of screaming kids, and got very little sleep the next day (plane came in late and I had to be up early to meet Employees). I couldn't find shares to short until I got on the HTB program (I can now). I tried to scalp in windows that were too tight. I was impatient.

So I lost about 3,700 (real money) my first two trading days, but made 3,100 since then. Trying to be very careful about revenge trading. I am being more aggressive to get out of a hole, but that can end in disaster. Next week will be more chill. These last two days, I've been trying to hit home runs to make up for getting shut out the first two days of trading.

I haven't had a two day stretch like that in maybe six months. Kinda wanted to make me throw in the towel, to be honest. I think I've corrected my mistakes.

I really have not wanted to look at my mistakes. I wanted to bury my head in the sand and move on. But then I'll make the same damn mistakes. You have to look, no matter how painful it is.

View attachment 391698

View attachment 391699

View attachment 391700
Click to expand...
Bored enough to make a table but not bored enough to note them on a chart. Trying to look at trades in that way is annoying. Profit won't exactly match up with your stated due to transaction costs.
Capture.PNG


If your size grows in the future, and a lot of round trips you are going to find yourself filling out form 13H just as a FYI you might not be aware of.
 
Shonuff

Shonuff

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Blazin said:
Bored enough to make a table but not bored enough to note them on a chart. Trying to look at trades in that way is annoying. Profit won't exactly match up with your stated due to transaction costs.
View attachment 391745

If your size grows in the future, and a lot of round trips you are going to find yourself filling out form 13H just as a FYI you might not be aware of.
Click to expand...
That 10th trade tho

I thought I was going to get stopped out. I know I'm not supposed to show emotion, but I was screaming and cussing. Until I can get rid of that, I can't really trust myself.
 
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Blazin

Blazin

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Shonuff said:
That 10th trade tho

I thought I was going to get stopped out. I know I'm not supposed to show emotion, but I was screaming and cussing. Until I can get rid of that, I can't really trust myself.
Click to expand...
IMO you're overtrading even for day trading.

Two Trades:
Buy 131.44 Sell 132.64 Profit $960.00
Short $132 Cover $130.70 Profit $1,040.00
REASONING: We have selling out of the gate that stabilizes and fails to make a new low from 9:32-9:35 it then goes and sets a new high for the day triggering the long scalp. At this stage we are watching 130.77 as our mental stop. Movement remains healthy move up consolidates and moves up. From 9:41 to 9:48 we will have moved our mental stop to 131.78. Minutes 9:47 and 48 would really be ready with finger on the trigger to sell. Instead it holds and moves higher by 9:54 we are moving our stop to 132.65. The bar at 10:01 likely scares us out and we sell @ 132.64.

Now the next 30 mins is tricky, I personally would sit on my hands day trading it. To me you can't get long at the 10:06 bar because you havent set a higher price since the decline 10:03 decline bar. 10:11 to 10:16 is healthy action as it holds $133 but volume is waning. The high of the day is a fakeout and there would be a danger here to get long since it set a new high but I look for 2-3 bar confirmation of higher highs and higher lows we don't get that.

The next 10-12 mins has us start looking for a short and at 10:38 we set a lower low from the 10:05 decline to 132.09. So we short @ 132. There is not a single challenge to this short. We have a stop at $132.60 when we enter the trade and after just a few minutes would move that to our entry at $132. We don't get a single higher subsequent bar. Now you could close at any point below $130 but there the technical reason to cover doesn't occur until the third consecutive green bar at 10:56 so we cover at $130.70

Capture.PNG


This is not a cherry picking narrative, I noted realistic entries and exits that were contingent upon what was happening not on what followed. TA is an art and a science of course and there is no one set way of doing things. There are certainly fake outs and difficult set ups but I think you could have made a lot more money while still being realistic and overall taking less risk. I see nervousness in your executions, I may be wrong about that I admit but the frantic 8 sec scalps are not TA.

I think the biggest thing (especially if coming off some previous losses) is the willingness to take the loss ont he stops I noted. The first trade would have been a $536 loss and the second trade had a potential loss of $480.

Thank you for sharing and good job going home green.
 
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Shonuff

Shonuff

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Blazin said:
IMO you're overtrading even for day trading.

Two Trades:
Buy 131.44 Sell 132.64 Profit $960.00
Short $132 Cover $130.70 Profit $1,040.00
REASONING: We have selling out of the gate that stabilizes and fails to make a new low from 9:32-9:35 it then goes and sets a new high for the day triggering the long scalp. At this stage we are watching 130.77 as our mental stop. Movement remains healthy move up consolidates and moves up. From 9:41 to 9:48 we will have moved our mental stop to 131.78. Minutes 9:47 and 48 would really be ready with finger on the trigger to sell. Instead it holds and moves higher by 9:54 we are moving our stop to 132.65. The bar at 10:01 likely scares us out and we sell @ 132.64.

Now the next 30 mins is tricky, I personally would sit on my hands day trading it. To me you can't get long at the 10:06 bar because you havent set a higher price since the decline 10:03 decline bar. 10:11 to 10:16 is healthy action as it holds $133 but volume is waning. The high of the day is a fakeout and there would be a danger here to get long since it set a new high but I look for 2-3 bar confirmation of higher highs and higher lows we don't get that.

The next 10-12 mins has us start looking for a short and at 10:38 we set a lower low from the 10:05 decline to 132.09. So we short @ 132. There is not a single challenge to this short. We have a stop at $132.60 when we enter the trade and after just a few minutes would move that to our entry at $132. We don't get a single higher subsequent bar. Now you could close at any point below $130 but there the technical reason to cover doesn't occur until the third consecutive green bar at 10:56 so we cover at $130.70

View attachment 391755

This is not a cherry picking narrative, I noted realistic entries and exits that were contingent upon what was happening not on what followed. TA is an art and a science of course and there is no one set way of doing things. There are certainly fake outs and difficult set ups but I think you could have made a lot more money while still being realistic and overall taking less risk. I see nervousness in your executions, I may be wrong about that I admit but the frantic 8 sec scalps are not TA.

I think the biggest thing (especially if coming off some previous losses) is the willingness to take the loss ont he stops I noted. The first trade would have been a $536 loss and the second trade had a potential loss of $480.

Thank you for sharing and good job going home green.
Click to expand...
Thank you for that. I am nervous, I opened the month with shit days. I have had to get over being pissed at myself. And in general, I don't want to lose on a Friday. It eats at me all weekend. So I get skittish. I don't care if I walk away with 100, I want to end the week green, and it makes me more conservative. I guess, I will end a trade early on a Friday, even before confirmation that I should.

I did take smaller trades, because I'm still experimenting. My OCO bracket orders are set for .025%, .05., .1 and .2 profit per trade, with a stop loss of 1%. I have little self control (I've found), I have to program every thing, or I get greedy, or don't know when to get out. When you see that the average AI trade is like .0001 cent, I wonder if I should do smaller trades like the big boys do.

In general, I prefer to scalp scalp scalp my way to profits.

I'm open to any suggestions you have on books.

I am 100% open to critique. I wish there was some sort of service where I could send my trading day to someone, and they could analyze. Like I had a second set of eyes on my trades.
 
Shonuff

Shonuff

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Trend bot has added so much to their app while I was on vacation. I can't even tell what I'm reading any more, and they didn't leave a tutorial.
 

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Kiroy

Kiroy

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go on a very expensive two week vacation and wall street leaves you behind

them the breaks
 
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Big Phoenix

Big Phoenix

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Possibly important semi related news;

Update fire incident at ASML Berlin | ASML

7 January 2022 - ASML Holding N.V. (ASML) provides an update today on the fire that occurred inside a part of its factory in Berlin, Germany on January 3.
www.asml.com www.asml.com

Apparently ASML, the only company in the world making the equipment fabs(tsmc, samsung, intel) use to produce high end semiconductors had a fire in their plant.
 
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Sanrith Descartes

Sanrith Descartes

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Big Phoenix said:
Possibly important semi related news;

Update fire incident at ASML Berlin | ASML

7 January 2022 - ASML Holding N.V. (ASML) provides an update today on the fire that occurred inside a part of its factory in Berlin, Germany on January 3.
www.asml.com www.asml.com

Apparently ASML, the only company in the world making the equipment fabs(tsmc, samsung, intel) use to produce high end semiconductors had a fire in their plant.
Click to expand...
Reading their release, it sounds like a short term price shock at best. Assuming they are telling the truth. I think we are in a state where supply chains are so fucked up that a few weeks of disruption here is just another drop in the bucket.
 
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