(binned per thread starter's request) Market bottom rotation trad

Didnt come into play, no takeout. Looking for EA now.

EURAUD overall 0.5 R loss on this one. Bounce bidders tried but failed.

I think you had said something about not getting filled on a certain trade so I was curious if you ever enter at market or always try to get filled on a limit

GJ took some, bad management on this trade, should have set BE TP on order after dip and loaded new positon on micro shelf lows, and also Tped too quickly, 3 / 10 for performance.

Yeh it really depends on market, pattern, quallity of setup many factors. If all lines up perfectly for high A grade play ill always enter with market order because i dont want to get left out, but never doing that if asset has spread. On spreaded currencies or stocks always limit order, no exceptions. On bounce trade also usually limit order.
On stocks on shorting trash stocks its almost always a market order because i watch the tape / level 2 and when huge flush of sellers come in thats when ill start to scale in size, so market order is used because position is filled in chunks it does have however comission costs impact (5 bucks per each market order scale in) but then again it all matters how much meat to the bone setup has if its worth doing that.
On futures always market order, there is no need to use limits there unless its a bounce fill on retrace.

On TP side again it totally depends on play, i trade different patterns that have totally different behaviour so the way you manage your limits or markets has to fit to behaviour. For example if i short trash stock after short squeeze on backside of move and i short on support then ill always have limit TP set because the way that pattern behaves is that once support breaks it will wash very heavy and after that wash there is always bounce due to shorts that cover into dip so its a must to have limit order TP set ahead. While for example in supply takeouts its not that necessary because price behaves different on there usually giving you enough time to route out order with market order exits, especially since in FX you dont pay extra fee for doing that while in stocks you do.

Whole point is that you need to study the pattern you trade how price behaves on successful plays and then fit your order management to that, worst thing to do is to force management just because your broker has certain extra costs to that.

ABIL was offering news play, trash stock which was yesterday pumped on bidder that was swallowing everything that was thrown at him from sell side. Those bidders usually liquidate and dissapear after first day of pump, and second day is when trash company will use the opportunity to release offering of additional shares to gain some capital, which eventually increases supply on stock by many folds and it crashes down. Frequent pattern on trash, and thats what got ABIL. Shorted small pre market, didnt add on market open was looking for larger up retrace to add.

GBPUSD took bounce trade, a bit asymmetric structure this one.

EU last play of the day most likely.

1 R overall, takeout and bounce. Thin market and equities closing, nothing more to play today.

This month biggest miss ACST short, completely missed the news and move. Some tips on what and how to play those trash names on backside. This is similar to short squeeze play but more of a long term hold with overnight short positions.
-company with bad financial (revenues year on year are droping compared to previous year, little avalible cash, lots of debt)
-biotech/pharma sector or Chinese mumbo jumbo companies that trade on NASDAQ
-company with single product, or no product at all (product in development)
-bs news or weak news with over-reaction on bullish side
-extended long term U shaped down trend on daily and weekly chart

Once those variables are combined, usually when such stock will have upwards run for few days on bullish news, generally those runs will fail and selloff completely, mainy due to bagholder effect. Assets with such long term down trend have masses of retail bagholders that will sell on first opportunity when up spike begins, this is very common thing that happens in underperforming assets that have for long time idle price or slowly down moving price which makes bagholders impatiently sell into any break even opportunity after period of DD or idle. So ergo, once up spike begins, the asset will have strong demand due to bull news, but also very strong supply from bagholders, and thing is demand will eventually dry off within days while supply will not, which causes at the end complete fade.
100s of assets in global markets that have that kind of situation / behaviour.

Some grabs from fellow trader from Italy, whole round numbers do matter. In FX, futures and equities. Level 2 and bookmap very often show a large orders stacked there from institutions. Something that i thought its only a hokus pokus thing that people just assume , but was proven wrong in last 2 years of trading with plenty of examples.
The main point however is to know overall dirrection of asset because orders will usually only be stacked on the general direction. Placing orders in front of those could be good entry point as long as the stack is not eaten, if eaten get out, small loss.





And the one i caught on AAPL few days back.

Some tips on trading stuffs on FX (futures data), futures and low cap equities. Volume needed and reading the tape, the setup is relatively easy, extended trend / leg (if parabolic its plus), then a very quick and strong pop with instant rejection and flush of large orders coming trough the tape. So for short quick pop in direction of bull trend / leg and then flush of large sell orders , and then waiting for price to retest the high of pinbar and trade around it few minutes without breaking it, identifying that bulls cannot mark up the sellers. The volume on stuff candle has to be substentually higher than any previously traded volume in whole leg.
This is strictly M1 play, no higher TFs, because there has to be fast exchange of price to identify stuff. I play those mostly in equities but dont have much setups screens saved so ill post some from futures market.
The point is not to jump head on after stuff appears on first candle, its to wait so that price bounces confirm that stuff is relevant, and that fresh orderflow cant trade trough it, then waiting for some demand to establish and long around it (or short supply for bear setup).

Volume has to dry off slowly after stuff, if its still strong then its a no play.DAX (DE30) is good asset to play this one, since one can read futures data but execute trade trough FX broker on MT4 especially good for smaller accounts.

MT4 cant be used for this since the volume data is gathered trough brokers and is only half reliable, but if futures data is used and then cross used in FX its good enough, for example gathering 6E EURO futures data / setup and then at same time applying it on EURUSD pair on FX MT4.

A tomorrows to do list. I make those every day, based from report card of under-performance in trading for that day.

To do tomorrow (due to underperformance in previous days):
-record tape full day on low float runner (if anything pops in Monday) and go over after market close, focusing on flow ahead of wash
-increase risk by 1% in FX and futures due to strong performance previous week
-check recap of SevenPointsCapital Katz or Stans, see if anything usefull pops up that i could add to my style
-use slightly wider stops on low floats since previous week got quite a few last tick stopouts and then turns, futures/FX unchanged
-read at least 30 pages of Dalios principles to improve on performance
-go trough historical charts and save at least 50 setups in review folder on FX
-try to improve at least a bit on one rule in one play
-scale more aggressively on A quality plays, under-performed size on those previous week, should have went 1% extra

dollar

Dollar long covered, 2 R.

GBPUSD pullback leg long.

GBPUSD long covered, 1 R gain.

GJ B quality play.

EURUSD took some, no bounce entry on this one its too thin structure.

US30 last play today, end of the day breakout on supply absorption.