Stock market, Stock, Trader 2020 Had Taught Me TheseDay Trading, Penny Stock Trading
So i think it’s also important to you as well and before i start this video make sure to click the like button and subscribe and let’s get into the video. So the overall process will be split in three different parts. The first part will be of the losses and mistakes you made second part, will be all of the consistent winning trades that you made throughout the year. The third part, which is the most important part for beginners, is you want to select all the trades that belong to scalping or small trades you made about 500 or a thousand dollars, and these are considered to be small trades for your account. Now you want to identify them. Does these small trades fit any type of pattern? Now, if it’s not fitting any type of pattern or some of the pattern you want to potentially test, then those trades counts. You are over trading in this market, so once you can filter that out as a beginner, then it will be a very good step for you to become a consistent, profitable trader in this video. I will be go overing all the mistakes that i made. Some of the trades that stands out and i’m very stubborn about and sizing way too much, and also some of the biggest wins that i made throughout the year. So you can kind of see that how do i really react if i’m winning big or i’m taking a huge losses? So in this way, you can get used to the mindset that you are winning and also, if you are losing, you will be able to find out.
Okay. This is something that i did before. I will try to avoid it into the next time uh when i’m trading in real time so that’ll be uh of the concept i’ll give you guys let’s get into uh the recaps all right, so there’s going to be two tickers. I want to talk about uh obon. This one will be i’ll, say one of the biggest mistakes that i made. I caught losses way too late. Let’S look at the yearly chart. This sticker had over 200 minute resistance around two to three dollars. The major consolidation area is between 2.5 to 2.7. In that day, when i talk about shorting into resistance, i always avoid stocks under three dollars, so on obln it’s, stuck between two to three dollars: it’s on the high twos and the low 3 area. So it barely qualified the criteria of shorting into resistance, which i still sized in full amount, risking the 3 dollar area. I think the stock opened over 3 opened around 3.4. It traded about the 100 million shares before 10 30.. If you are trying to estimate the entire day volume, if, in the first hour already traded about 100 million shares, it’s, definitely going to trade more shares throughout the day and it’s also going to overwhelm the 200 million resistance that was made in december 7th in 2018. 2019, we never get any resistance that is close to 200 million resistance, so i sized in about, i would say, 500 000 worth of positions.
I think i took around 15 20 losses so that’s like a hundred thousand one hundred fifty thousand losses on this specific ticker. So in the future, what i can improve on is if the stock is trading. Over 100 million shares before 10 30 and it’s definitely going to trade more than 200 million shares throughout the day, and i will try to size down, because sometimes the stock decides to do a massive pull and actually consolidate around the resistance, then drop. So, in that case, if the volume is too much try to size down as much as possible, i would recommend 20 percent of your regular size for this type of shorting strategy. So for wnw this is another massive wing that i did. I was very patient on the sticker because during that time there is a massive ipo hype in that two months, so the stock did when very overextended went from seven to 160 uh in three days. Let’S, look at the intriguing chart, so we’ll be able to tell where the entry is and where is the exit. So, first of all, when the stock is spiking in the afternoon, there’s always a really good chance. That stock tends to perform a massive morning spike. So for wmw, because it is a very fresh chart and they attracted a lot more volume after the open, the stock went from 50 to 160, pretty much in 30 minutes once it formed the top. It dropped another 50 percent from the 160, so it dropped all the way to 80.
So in this case, when people are buying around 160 they’re down way too much, so they want to sell into some type of consolidations or balances, and the consolidated about 2 million shares around 100, so that’s about 2 billion in terms of dollar block, which i decided Sizing around 120 covered around 102 then because of the borrow fee, was way too expensive to hold overnight assassin again into the next day morning. Average is around 103 covered on the low of the day, close to 72.73, so that’s, the two trades that i made on wnw both of the trade i made over 20 from my original investment. So i think that’s a decent gain and also one thing to keep in mind that a multi day runner tends to fade anywhere between 50 to 75 percent. Now, 80 percent of the multi day runner tends to only fade about 50 percent. Now the rest of the 25 percent doesn’t really happen, not often so for wnw, specifically, it covered when the stock faded around 50 percent. But in some cases that this type of ticker tends to fade 75, which you can see that when it dropped it to the low 30s that’s in total about 75 of the entire game, oblan is one of the biggest losses that i made in 2020 and also Wnw is one of the biggest game that i made last year. Uh. Hopefully you guys can learn something new about my thought process on obon and wnw.
Overall, i think the market is going into a bigger volume sector. So what you have to do is go look at your losses and to see what you can improve on and also look at your wins to make sure that what you can do to keep your consistency, so that will be all for this video. Thank you very much for watching.
Comments
Post a Comment