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11/18/24-11/22/24 Daily Trade Recap: Share your wins and lessons
Hey Trash Panda Traders! Let’s build a strong community by sharing our daily trade recaps. What did you trade today? What strategies worked, and what didn’t? Let’s learn from each other and refine our skills together! Drop your charts, insights, and any lessons learned in the comments. 💹🔥
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New comment 1d ago
11/18/24-11/22/24 Daily Trade Recap: Share your wins and lessons
Trade Idea #3 For the Week: Full Truck Alliance (YMM)
Trade Idea: YMM Trade Type: Small Cap Gap Grade: C (25% of normal position size) Entry Criteria: Price opens at or below 9.94. Buy stop limit order at $9.95. Target 1: $10.44 Target 2: $10.94 Target 3: $11.44 Target 4: $11.94 Target 5: Trailing Stop Hard stop: 4 hour close below $8.89 Trail stop after the first price target is hit. Rationale: YMM gapped up today on a positive earnings report and a stellar earnings call. Their income increased 81.4% year over year. Their revenue is up 33.9% year over year. Demand for their logistics solutions has increased by 22.1%. Their monthly active users went up by 33.6%. Comments: With this entry below $10/share this is an executable trade for a smaller account and only needs to be checked on once or twice a day with a casual glance at the 4 hour char. To learn how to execute this trade with precision and how to size the trade accordingly, I highly recommend watching my free tutorial on how to trade this specific strategy.
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New comment 2d ago
Trade Idea #3 For the Week: Full Truck Alliance (YMM)
5 Things You Need to Be Able to Be a Successful Trader
Thought this article was well written and highlights some of the most important stuff you need on your trading journey! https://www.entrepreneur.com/money-finance/5-traits-you-need-to-be-successful-as-a-day-trader/482250 Comment your takeaways below!
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New comment 3d ago
What I'm Watching Tomorrow
XPEV (XPENG car company) is dropping their earnings and guidance in the premarket tomorrow so it's on my radar as trade idea #2 for the week. If you want to know how to trade it on your own, make sure you've watched the earnings reaction trading video I've posted. That's the best way to make sure you don't miss it and know exactly how I'll be trading it. The key is to wait for market volume to come in for the first 15 minutes and allow the important levels for the day to be set during that time. I'll post the entry/exit/stop levels and grade around that time. Notifications on over on X if you want immediate notice. If it takes off immediately after the first 15 minute candle, and before I can get an X post sent out you might want to wait for a pullback to the ideal entry level or lower before attempting to jump in so that you aren't chasing. If it goes to the first profit target before retracing, I'd probably just avoid the trade altogether. Again, this is why it's best if you know how to trade the setup yourself according to the SOP laid out in the course so you don't have to wait on a notification or post. Whatever you do tomorrow, trade smart. ✌️- Derek
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Market Overview 11/18-11/22
SPY and QQQ hit all time highs last week but it's been almost constant selling since then. Friday had a significant gap down. I'm still bullish on both SPY and QQQ despite the dips so far. Even if the gaps fill, we are not out of the uptrend just yet. Watch the most recent daily lows as the support we want to hold. This week's economic calendar is lighter than last week but there's still some action to be aware of. Watch for Fed speakers that could potentially introduce some volatility intra day throughout the week. Tuesday and Thursday have some critical premarket data drops that you are going to want to mark the highs and lows of as you day trade. The energy sector is outperforming currently with 8 days above the 5 SMA, a new high on Friday, and has been in a daily uptrend since September. --- For those of you looking for a trade idea, here ya go: SITC Sell to open $15 puts for December 20. Shoot for a minimum price of .40/contract which will net you $40/contract in cash flow. You'll need $1500 in your account per contract to bring in the cash flow and a willingness to hold on to 100 shares the stock if you get assigned. If you want details on how to trade the strategy for this idea and why I like it, watch the video I uploaded last week for you here. Let's have a great week, everyone!
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Market Overview 11/18-11/22
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