Daily Gaps & Breakouts with Ken Calhoun
- Thread starter KCalhoun
- Start date
I won't ask the P&L of the other trades as they were not mentioned this morning.
Better than 1 to 1 risk to reward on TVIX (almost 1 to 2) not quite as good on TZA.
Thanks for taking the time to post.
I'm waiting for loser. Best way to judge a trader is by how he handles his losing trades. Maybe next week
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Better than 1 to 1 risk to reward on TVIX (almost 1 to 2) not quite as good on TZA.
Thanks for taking the time to post.
I'm waiting for loser. Best way to judge a trader is by how he handles his losing trades. Maybe next week
.I won't ask the P&L of the other trades as they were not mentioned this morning.
Better than 1 to 1 risk to reward on TVIX (almost 1 to 2) not quite as good on TZA.
Thanks for taking the time to post.
I'm waiting for loser. Best way to judge a trader is by how he handles his losing trades. Maybe next week
Right, I'm sure I'll have some next week. True re learning more from stops. Will post notes, thx
I can only comment on the trades you posted.
All 7 were short bias, yet you took different position sizes, some 100% greater than the other.
I don't want to assume anything, can you explain why?
Can you comment further on when and why you took your stops? Did you take all 7 positions off at once, or one at a time as they hit a pre-planned exit?
All 7 were short bias, yet you took different position sizes, some 100% greater than the other.
I don't want to assume anything, can you explain why?
Can you comment further on when and why you took your stops? Did you take all 7 positions off at once, or one at a time as they hit a pre-planned exit?
Hi,
Different sizes as function of share price, relative strength of chart and number of shares already in overnight
Stops were hit from preset levels
Lessons learned:
- Stop premkt buying because they often reverse in market by 10
- Monday chop, in-market setups looked fine but slow moving market
- I correctly decided to trade long bias TNA 10am twice, as hedge for inverses
- Stop trading weak inverses SQQQ SOXS LABD SPXS, instead trade hedge pairs TNA/TZA GDX/DUST UCO/SCO and UVXY
- Got good testing done for the money, several dozen trades for under two hundred
- Best daytrade was eod bounce in UVXY, small 50share in near lod sell top of bounce
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When I refer to position size I'm talking about the dollar amount. It doesn't matter what the share price is. You had position sizes ranging from $113 to $365, how do you determine how much to allocate to each position?
Could you explain how you use Relative strength to determine position size. I couldn't see any correlation.
Does number of shares already in overnight mean you had positions not shown in the blotter you posted?
How are preset stops determined? They didn't show up on the blotter.
Big picture, I'm moving away from this inverse swing strategy and instead getting back mainly to daytrading.
When I decide on initial share size it depends on strength of the chart pattern, premkt futs bias and strength, time of day, many other factors.
Favorite pattern is gap continuations slightly above prior days high, none of these had that hence tiny size.
Yes I'd been in very small positions overnight, as most nights, I'm moving away from that. The fidelity orders and activity page doesn't show open positions, that's on a different page.
When I set stops they're anywhere from large 1point trailing to tight 30cents depending on the chart and strategy, scalp vs swing I'm using.
I'll have more focused examples moving forward as I shift away from hybrid day and swing approach towards pure daytrading . Ok done for today, great questions
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