Here is a trade I made yesterday

deaddog said:
If you really want to help new traders, show them an example of that set-up where it takes out your stop then reverses. That's what they are going to experience. Then show one where it keeps going down.
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Thats where “ trader intuition” comes in and that is hard to teach. In my original post, i stated traders need to be aware of false breakouts.
 
brass_trader said:
Thats where “ trader intuition” comes in and that is hard to teach. In my original post, i stated traders need to be aware of false breakouts.
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I'm not sure of what trader intuition is. All I know is that you'll run into all types of situations that will tempt you to give a trade a little more wiggle room and that sooner of later it will cost you more than you want.

Have plan going into your trade and stick to it.
 
brass_trader said:
Thats where “ trader intuition” comes in and that is hard to teach. In my original post, i stated traders need to be aware of false breakouts.
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People should learn options. Trading from far away from the current price with spread trading will make life easier than this 1980s day trading.
 
Good trade there, thanks for sharing. Good to close when you did, people can get so caught up chasing more profit that they can end up losing. Nicely set up.
 
brass_trader said:
Not sure if this is for the trading forum or technical forum but I think it applies to both.
I traded XOM. I had 800 shares and bought at 60.31 and sold at 60.84. Here is why I bought. I bought when it broke the intraday high after a pull pack. I sold not long after as it leveling off and looking toppy. It did go higher after I sold but only by about .20. The respective arrows show both my buy and sell points as well as a line i drew that showed resistance on the daily. This was an easy set up.
Some times this can lead to a false breakout but as long as you are focused, these set ups are great.
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so you basically risk $48,672 to make $424. that's 0.8% ROI. did you have a plan before you enter the trade? what was your stop loss if it didn't go your way?
 
vincentnyc said:
so you basically risk $48,672 to make $424. that's 0.8% ROI. did you have a plan before you enter the trade? what was your stop loss if it didn't go your way?
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You can do the same thing by risking $50 in options spread trading:)
 
newwurldmn said:
DONT BE A HATER BRO!
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don't put words into my mouth. i'm just stating facts. one thing i learn is there is no sure thing in the market. just curious if the op had a plan and a stop loss before he place his bet.
 
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brass_trader said:
Not sure if this is for the trading forum or technical forum but I think it applies to both.
I traded XOM. I had 800 shares and bought at 60.31 and sold at 60.84. Here is why I bought. I bought when it broke the intraday high after a pull pack. I sold not long after as it leveling off and looking toppy. It did go higher after I sold but only by about .20. The respective arrows show both my buy and sell points as well as a line i drew that showed resistance on the daily. This was an easy set up.
Some times this can lead to a false breakout but as long as you are focused, these set ups are great.
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it seems like you did not track / monitor
reward : risk ratio.

and it seems like you are just being content with a meager profit.


RR ratio ought to be better than say 3.
 
i actually traded xom today....thx to you. don't worry i didn't buy xom cause of you. i traded xom so many time in the past and it hit my signal today 10/8/21. if you have been watching oil stonks these last past weeks, you can see the trend that big money is moving back into oil company stonks. you may ask why? i don't care the reason. i just follow the money. watch and learn.
 
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