Updated: NOV 4, 2024(started in February)

Strategy Bootcamp- Level 1 & 2

TRW User Name: Mrobbins

$10,000 trading account

Swing Trader

Updated: Oct 28,2024

Hello Prof,

         I wanted to start by thanking you for your time and want to know if there is any way I can show my appreciation. You have been guiding me down the path of where I want to be in the future and what I have dreamed to be. I have learned so much and can’t wait to see where this journey takes me. I started stocks last year in December and started trading in January. I started the boot camp in February and we haven't been able to connect. I know you have had a crazy busy year and when you did respond, I didn’t have my google doc open for you to edit. Hopefully we can work together and complete the bootcamp before you start your next journey. Even without completing the bootcamp I have been doing well trading and hopefully finally getting the opportunity to complete it, I can officially feel like a successful trader and continue to grow my account. I apologize I haven’t been very active in the chats and sharing my wins due to working 2 jobs, farming, and having a kid this year.

Strategy Bootcamp level 1- Defining Objectives

        I classify myself as a momentum trader.  Finding breakouts and ride trends. I have the patience to ride the trend out and follow through with a plan/strategy. As I am still a little new to the markets, I am working on being more big picture oriented and not worry about the little details while riding the trend. Therefore I am becoming strongly opinionated, with that said, being passive.

        The time availability is what my schedule currently allows me to be a swing trader as I would like to become a day trader in my future(possibly this year) if I can get to the point where I can quit my day job. I have a family and currently working 2 full time jobs as I plan to cut my work back and focus on trading as I become more successful. I have on average 2-4 hours a day I am dedicating to trading and courses with at least 1 hour of that being inside the trading hours and 4 hours on sunday.

        My risk would be in the middle because I currently have other incomes and cash saved. I can afford to take losses but my plan is not to take any huge hits with tight stop loss. If my stock is down and my big picture as it will eventually come back, I will ride it out until my stop loss is hit. If I had to choose, I would put myself more under the risk tolerant category versus risk averse.

 Lastly, I want to stick to the stocks asset class. Trading the underlying!

Strategy Bootcamp Level 2- Defining the Strategy

Entry Parameters-

Momentum trader and box system. Find boxes^[a] and squeezes using my stock screener. Base boxes, 21ma, and 9ma box.  I will set alerts at the top of the box to notify me. The daily candle needs to close and hold above the box for breakout and will need to be above all the moving

Averages (9ma,21ma & 50ma on the daily time frame) for me to enter the trade. My entry will be the opening of the next daily candle. Lastly, I will look for any major possible new events that can be volatile before entering the trade.

Setting Target Price-Finding the take profits will be subtracting the price of the top of the box from the bottom to find the range of the box(example: top is 125- bottom is 100=25)the range of the box would be 25.

The FINAL target will be what the range amount is plus what the price is at the top of the box(example 125+25=150). The target would be 150.

The PARTIALS will be dividing the range by 2 plus what the price is at the top of the box. (example 25/2=12.5. 125+12.5=137.5) The partial would be 137.5.

*If not at ATH look at resistance points and make any adjustments if needed.

STOP LOSS- The stop loss I set for when I place a trade is 5% below my entry price or the recent swing low.

Exit Parameter- Ride the trend while being above the 9MA, exiting the trade if it falls below the 21MA. I will Take partials at the predetermined level which will be half of my trade(example if I have 20 shares, I would close 10 of them) but if the trend still has a lot of strength(the candles are staying well above the 9ma, I will keep ^[b]riding the other half of the positions. I will keep increasing my stop loss to 21ma during the trend.

Risk Per Trade-

I currently have other cash flow but my future goal is the switch to full time day trading once my account is large enough I can take out weekly to live off of. I do have additional cash that I will be moving into the account to help build it also.

* I have been trading since January and have been doing well but I noticed my biggest mistakes are managing my risk. I either make too tight of a stop loss or too low of a stop loss and end up losing/missing out.

Thanks,

Matt

Mjrobbins1994@gmail.com