✅ How I Scalped 1000 Shares of AMD | Trade #143

22 i’ve got my bracket order out the low right here was 88. 32 so i was going to go 10 cents below this level and just to clear it up a lot of people are asking me how i know that i want to get short and my answer to that is i only get short right now i’m only taking short plays so i just set it up if i don’t get triggered then i just i don’t trade for the day but if i do get triggered then obviously i take my one trade for the day so i’m going to hit play on this and you’re going to see volume come in and you’re going to see us get triggered right there so right now i’m short a thousand shares today so as you guys know i’ve been progressively working my way back up to full size ever since i switched from think or swim i went 100 shares 200 shares 500 shares 800 shares and then today is a thousand shares tomorrow i’m going to go 1200 shares and that’ll be full size for me as i’m risking 30 cents on a 350 r value if you don’t know what r values are and you don’t know how that can be part of your trade plan check out this video right here that’ll kind of clear that up for you but right here you can see i’m now short and i’m watching this trade develop and i’m figuring out when i want to move my stop loss to break even because i like to do that once i see 40 cents so i was trying to figure that out i thought okay let’s go ahead and and get that moved and so i didn’t move it yet i’m still kind of watching and waiting really don’t know what i’m doing over here i just was kind of fiddling with some numbers and anytime you touch that box you have to update and i need to be better about that because right now my stop-loss hasn’t been transmitted so you’ll see me transmit that here in just a second but we’re just getting a lot of back and forth price action albeit we are short we are moving in the short direction so we’re profitable right now so watching this and i’m starting to look at these numbers and make some calculations in my head and i made this horrible mistake i looked at 8849 and i quickly subtracted 73 cents and then i looked down here and i saw 87.

44 and just to show you exactly what was going through my head i’m going to do the calculation so with 88. 49 i took it minus 75 cents because that’s my take profit target and that’s 87. 74 okay and i’m seeing 87. 44 and i thought to myself wait a minute why is this at a dollar three target it should be at 75 cents so because the platform’s new to me and because i guess it was early in the morning i just sort of panicked i think i just went wait a minute this isn’t right i should have already oh i should have been to target almost like what happened so i’m trying to figure out why it’s at a dollar three instead of 75 cents and as many of you may see the answer right now is this isn’t my entry this is my stop loss i’m going 75 cents target from my entry which is right here at 88 19 was where my fill came in so i calculated my target it’s already on here but i just did a recalculation based on the stop loss and not the entry and i just decided to mark it out and just close the position and it’s the most pathetic thing because you’re going to see this we’re getting a move back down volume still great we’re still below our entry everything’s perfect and i’m trying to figure out wait a minute do i just miss my full fill should i be out now and because i had so much profit because i was such a large red candle i just punched that button transmit that and it took me out i thought oh good wait what wait what did i do and then i flipped the summary button and let me show you my summary button so here where my trades are summary button realize p l i made 201 dollars today 1 000 shares so this should have been a 750 dollar winner but instead i punched out because i thought my bracket was screwed up and took profit at 201 dollars so i get it green is green i’m totally fine with it it’s one of those things when you’re learning a new platform you’re going to make some funny mistakes but oh my gosh can you believe i did that so as you can see as this plays out and i’ll show you the the candle right here as this plays out you’re gonna see this came all the way down to the 8733 so i would have been at full target 80 at 87.

44 and it came down to a low of 87. 35 so it went well beyond my target i would have had the full 2. 5 r but instead i panicked that my bracket was broken or something was weird and i took profit early and man what an unfortunate mistake because when you get winning days you’ve got to get your full r values so that when you have losing days you’re only losing a single r so it just happens it is what it is but as you can see on amd um you know it had it played out really nicely to the downside so lots of opportunity in it this morning and i do want to talk about why i was watching this this morning so if i just kind of come back here i like this little slide feature on ibkr because i can kind of erase the candles but if you look at this candle this was the 915 candle so i was watching this one as i was looking to place my order this morning so around 9 25 in the morning i start looking to click my button which gives me my order and then i’ll hover and i’ll wait for market almost to open like i think it was 9 29 and 50 seconds i went ahead and placed the order and then i just let it play out i’m still getting used to the platform but my goal is to watch this last 15 minute candle so that i can put on my closing range breakout strategy which just means i like for the pre-market to close and then i use this 15-minute candle range as my breakout range my metrics over the last couple hundred trades has indicated that i make most of my profits for the year based on short positions about 82 percent of the time i win on my short positions or 82 percent of my profit sorry are from short positions my win rate is closer to 60 percent on the short position so i’m only going short right now i’ve been getting a lot of questions about that because if you watch some of my older videos i had been doing both long and short videos and short long and short plays and right now i’m just going short so stick with me on this i’m going to see if my metrics will play out but right now it’s kind of been the best bet for me so i’m watching this candle the low on this is 32 and i like to get short putting in a stop limit sell at 10 cents below low so at 22.

08:18 - so if i put my order in at 22 and then you can see my average sold position was a little a little over 19. so i got about 2. 8 cents in slippage which i’m i’m 100 good with because it’s as you saw in the video it’s a very quick fill um if i show you back here again you’ll see in the very beginning that this first flash down hit 23 and then bounced away so i actually technically was not filled right there that wasn’t a delay that wasn’t anything weird you can watch it in real time here it was just a quick flash down to 23 and then it went to 21.

breached the 22 line and that’s what triggered me in it was pretty volatile this morning you can see it really whipping around so i think that 30 cent stop cushion has been a good idea i upgraded from 25 cents up to 30 cents for my stop loss so that’s been a good thing for my trade plan but ultimately just looking to take it short i’m going to move this slider over now you’re going to see the next candle comes in right here and this was the candle where it took me all the way down to my profit target i bailed early and then it reclaimed and pushed all the way back up so kind of an interesting candle to put in there and this shows the power of even though you’re short even though i’m short it doesn’t mean i think amd’s going lower it’s just i want to play off the morning volatility to catch a wave down before it maybe goes higher i don’t really care if amd goes up or down i just want amd that if it commits to one side or the other i want it to go in that direction for at least 75 cents and if i keep moving this forward you’ll see how everything played out and it is kind of interesting because i hit my profit target then it came all the way back up and would have stopped me out if it hadn’t gotten to my profit target it came all the way back and then decided to drift lower so thinking back to my older strategy of playing bar by bar this one would have not worked this would have would have dumped me out and then been a nice bar by bar so you win some you lose some the whole goal of this day trading game is just staying consistent whatever you do just do that every day is what i do that’s my recommendation because you have to have a consistency piece because you need to kind of back the trade in a corner you have to sort of commit to one side or the other of it because you’re just looking for a 50 50 win rate if you can win half the time and each win is slightly bigger than your loss then that’s a money-making strategy so right now you know i’m typically winning anywhere from 53 to 57 percent of the time at 2.

5 r to 1. so every time i win i’m making two and a half days of units like 2. 5 units and every time i lose i lose one unit so if i have a winning day like if today would have been a normal winning day it would take two and a half losing days to get me back to break even so you want to take two to three steps forward one step back two to three steps forward one step back that’s that’s the whole strategy it’s not i don’t want to be fancy or complicated about a bunch of indicators or oscillators all i’ve found is this little place in the market where price action moves and it tends to move in a decent amount of pennies it’ll typically move anywhere from 50 cents 75 cents in the first few minutes of the day a dollar and i just want to take part of that move collect that profit and then close out and be cash overnight come back in the morning and just repeat the process so that’s all i’m doing here is just scalping scalpy can be based off of anything you could play the break out upward of this candle you could take the first candle of the day and play the breakout you could play the breakout of this first candle high or low you can do any type of combination of of breakouts it’s just committing to that and then not changing and making sure that you have a hundred to two hundred back tests so that you know what your win rate is based on your reward to risk ratio because your win rate will change fairly drastically based on whether or not you’re trading three to one two point five to one two to one even one point five to one those things all change your win rate but the key is to find the sweet spot where can you get the most bang for your buck and still maintains by abiding by that 50 percent-ish area nobody’s it’s hard to believe if any if someone says they’re winning 80 of the time it’s hard to believe that because it’s such a 50 50 thing and no one knows what’s going to happen i’ve seen support and resistance levels get breached half the time i’ve seen them hold half the time everything seems 50 50 to me in the markets and i don’t mean to be going on this improv rant here but um it’s it’s just hard to have a goal of trying to be right 75 80 85 percent of time unless you’re just taking very quick profits and that to me shows some inconsistency because if you just take a break out and take profit immediately and you were making 500 800 500 600 and then what about that one loser where you lose three grand you know you have to be able to control both the win side and the lose side i have to guarantee that i can’t lose more than one r or else that my whole system doesn’t work i can’t just hope that something’s going to move massively one day and then beat me just by a little the next day i just need to stay very consistent win two and a half units when i win and only lose one unit on days that i lose and just take the same trade day in and day out if your day trading gets boring that’s when you know you’re on to something if your trading is boring and you’re making money you’re on the right path if your heart is racing and you’re sweating and you and you’re you you’re frantic every morning you’re flying all over the place and you’re kind of choppy and inconsistent you’re probably having too large a size and your your trade plan and your strategy is probably not consistent you probably don’t have all the details lined out or ironed out so the goal is to make your strategy as boring as possible that way you can put it on in your sleep you know say you wake up late and you rush to your computer you need to be able to just open up your computer and punch a button and just put it on you shouldn’t have to have two hours of prep and all these things because if that’s the case you’re just opening up yourself to more inconsistencies you can do it that way i know people who do it that way but you just want to keep things in my opinion as simple as possible now again i’m just one guy and again don’t do what i’m saying just just see what i’m doing and see if anything i’m doing can help you understand the markets even a little bit better that’ll make me really happy so today’s trade was was amazing it’s unfortunate that i didn’t catch the full move but tomorrow’s always another day and remember today’s trade does not affect tomorrow’s trade that’s one thing people get confused just because you win three or four days in a row does not mean you have to lose the next day every day is an independent event so with that out of the way i want to talk about this weekend saturday morning at 11 a.

m eastern time i’m gonna have a live stream like we did before we had them they were massively successful we had a bunch of great people show up i want to invite all of you back feel free to bring a friend if you want we’re going to tr we’re going to talk trade plan trade management that’s the topic that i think is super important if you have a trading strategy that you like bring it to this saturday’s live stream at 11am eastern time and i’ll answer questions from my experience if you want to learn how to hone your strategy you want to sharpen up your reward to risk ratio you have questions surrounding the psychology of the trades how could you become more consistent what steps can you take every morning to make your trade plan and strategy more simple i want to talk about that if you don’t have anything to bring but you just want to come in and watch and hang out you’re more than welcome it’s totally free live stream we’re just all going to hang out and check things out so if you’re new to this channel feel free to subscribe if you like hit the like button if you got any value and then if you want to join us in our group come over to the facebook uh we have a private facebook group that you can get the link through the banner on the youtube channel or in the description below come over there and join us it’s about 220 of us and we just love to talk the stock market strategy anything indicators we get into whatever anybody wants to talk about so really nice group of people there come join us come join us on saturday at the live stream at 11am eastern time we’ll have a really good time it’ll be an hour hour and a half two hours however long you guys want to go but i’m free saturday and would love to do that so i hope you found this video helpful i hope my mistakes uh either made you laugh at me or maybe helped you with your own trade plan and trade management about how important it is to have things ironed out and understand your platform which is the reason why i’ve been slowly increasing my size because i knew i’d run into an issue i knew i’d have you know i’d stumble around and fat finger something or do something weird so it’s good to be slowly getting back into this but tomorrow 1200 shares we’ll be back to full size i will hopefully not make this same mistake tomorrow but i am happy because 200 is 200 so it is what it is but if you have questions drop them below i really appreciate you stopping by and if you want to track your trades in an awesome software platform go to tradervue.

com in the link below in the description use the my link and it’ll help support the channel and you’ll get signed up for a pretty inexpensive platform for tracking all your trades so that you’ll know exactly what your metrics tell you to do so you can improve your trades moving forward alright thanks for stopping by and we’ll see you tomorrow bye.