Day Trading Basics
Discuss about day trading basics: price action, orders, candlesticks, indicators.
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RECENT POSTS
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By Michael Kamanda · Posted
Hi dear, I am new to BBT and trying to explore the trading terminal. Is there any video(s) to show me how to use the terminal and the scanner? Thank you😃 -
By Michael Schweighardt · Posted
Final update The results need refining, usually. That's fine. Even with a real life mentor... their feedback is only as good as your input. When i get the results, i usually spot a few errors. For example, if you look at the results above from my last post. Trade #4 show's "+85R". That's obviously wrong. AI said it was just a typo error and offered to redo the results. It kept pulling information off of my handwritten notes and making up trades because i wrote a note about a ticker. i told it to only go by the CSV file for my trades and not my handwritten notes. That's the type of refinement i am talking about. it's not really a big deal. i just review the results and correct AI if it gives me absurd results. Feel free to contact me about any of this! i will continue to use it as my one-on-one mentor. -
By Michael Schweighardt · Posted
Update it's really helping get my mind and routine sorted out and refine what I need to document and journal and habits I need to create. I asked it to analyze my day for April 17. I uploaded the CSV file from DAS that normally exports to an online journal like TradeZella or Tradervue chart screen shots my daily handwritten notes. I just take a picture with my phone of my notes. Here's the full analysis for April 17, 2025: ✅ Executive Recap – April 17, 2025 (Thursday) Net P&L: +$84 Win Rate: 4 wins / 9 trades = 44% Best Trade: AAPL long (filled the 3R range into strength) Worst Trade: NVDA short (stopped before the breakdown) 🔍 Trade-by-Trade Breakdown 🟠 Trade 1 — AMD Long (3R button) Entry: 88.41 (near 50% Fib) Exit: Stopped out Notes: Executed too early before confirmation. Clear violation of patience rule. Risk: 1R loss (-$18) Handwritten match: “Too early. B setup. Stopped.” 🔴 Trade 2 — NVDA Long (3R) Entry: 103.98 (inside upper Avinacci zone) Exit: Stopped Context: Trying to catch reversal. Market still heavy. Result: -$35 Note: You mentioned in your notes “hit wrong button,” suggests emotional instability or rushed execution. 🔴 Trade 3 — NVDA Long again Wrong direction, re-entered too soon. Stopped again -$26 Notes: “STOP PAUSE” kicks in here, you were at 3 trades, 3 losses. 🔄 Trade 4 — AAPL Long (Phil key) Entry: 195.76 area (range support) Adjusted stop based on volatility WIN: Sold in pieces, best fill at 2.73, which hit your 5R target +85R Total = $85 Notes: “Learn to take base hits” — this one was handled well. 🔄 Trade 5 — AAPL short (practice) Small size Practicing short off Avinacci 06 line Result: Stopped again -$18 Not logged in main DAS, but in handwritten notes (“Practice… Stopped again.”) 📓 Handwritten Notes Highlights (Pages 019–022) ✅ Good discipline shown in AAPL 🚫 NVDA: multiple re-entries violate 5-trade rule + emotional impulse ⚠️ “My stops are too tight, need to adjust” — key reflection 🔄 You mention “range setups” several times — these work well for you when you give them space ⭐ Mindset improving — awareness of not touching trades, letting them play out 📈 Chart-Level Insights (By Ticker) 🟩 AMD 8:00 candle showed breakdown through 88.41 → confirmed your early long was too aggressive. Perfect entry would’ve been the bounce near 87.50 then reclaim, but you entered before structure developed. 🟥 NVDA Breakdown through 102.87 Avinacci level with rejection at 103.60. You entered too early, trying to catch the reversal instead of waiting for a reclaim or lower support. 🟢 AAPL 195.76 = clean Avinacci support + 5-min range base. Your long bounced nicely and held. RSI divergence backed the trade up. Execution = near textbook. 🔁 Rule Alignment Check Rule Met? Notes ✅ 5-Trade System ❌ 6+ trades. Overtraded NVDA. ✅ 1R Risk ✅ Each trade followed correct sizing ✅ Max 2/trades per ticker ❌ NVDA: 3 trades (broken) ✅ Avinacci used ✅ Referenced levels correctly in AMD, AAPL ✅ Journaled day ✅ Handwritten notes detailed and reflective ✅ Emotional control ⚠️ Better than previous days, but still needs pause after 2x stops 🧠 Final Thoughts AAPL trade = a model trade. Good entry, solid structure, excellent exit. NVDA trades = classic emotional re-entry loop. 📍 Big win came from staying out after initial stops, regaining composure. ⚠️ “STOP – PAUSE” rule is crucial. You wrote it. Follow it. -
By Michael Schweighardt · Posted
There was an error. My worst day was NOT -$778. It was pulled from my hand written notes i uploaded. i told AI to omit those from the calculation and redo the Executive Summary. Here's the updated version: 📘 Executive Summary – DAS-Only Trade Logs Timeframe: Jan 13 – Apr 10, 2025 Data Source: 57 DAS Trader Pro logs Total Trading Days: 57 (Weekdays Only) 📊 1. Performance Overview Total Net P&L: +$2,128 Win Rate: 56.1% Average Win: $144.78 Average Loss: –$100.20 Best Day: Jan 14, 2025 → +$329 Worst Day: Feb 28, 2025 → –$318 Most Profitable Weeks: Last 2 weeks of March, early April 📈 2. Equity & P&L Trend Steady upward equity slope with controlled red days Best days clustered around clean, rule-followed trades Worst days often linked to high position count or early overcommitment ⚠️ 3. Rule Compliance (5-Trade System) Total Rule Violations: 17 Days (~30% of sessions) Most common: Trading beyond 5 entries or continuing after 2 losses Zero-violation days had significantly higher average P&L 🔍 4. Behavioral Insights Behavior Observed Pattern Impact 🕓 Early Trading Most wins between 6:30–7:30am ✅ Positive expectancy 📈 Overtrading Rule breaks = larger red days ⚠️ Reduced edge 🎯 Hotkeys 3R Button favored for quick scalps ✅ Controlled risk 🧠 Mindset Drift Red days showed increased trade count ❌ Breakdowns tied to tilt 🧭 5. Strategic Recommendations ✅ Hard Stop Discipline Enforce stop after 2 consecutive red trades Limit daily exposure — keep emotional capital intact ✅ Protect High-Win Days Reduce trade frequency after large early wins Let early green trend compound, not collapse ✅ Refine Best Hours Focus most energy between 6:30–8:00am PT This window holds >70% of winning trades ✅ Log Rule Score Daily Rate yourself 1–5 on execution, mindset, and adherence Match outcomes to self-discipline curve -
By Michael Schweighardt · Posted
I'm not moving forward with Grok. At this time, it's capabilities are limited. I had a conversation with Grok about it and even Grok agrees that ChatGPT is better used for this project 😂
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