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Showing content with the highest reputation since 12/24/2020 in all areas

  1. 3 points
    Hello everyone, My name is Tyler. I'm 29 years old and live in Nebraska. I'm a police officer and have been doing that for 8 years. I've always had an interest in day trading. I started off researching day trading about 6 months ago and read a lot of articles and watched a lot of YouTube videos. It took me a while before I came across the BBT Community and read Andrew's book but after reading the book and looking into BBT I knew this was the type of community and program I was looking for. I'm currently still working my way through all of the education sections and hope to start with sim soon. I look forward to meeting and learning with you all! Tyler
  2. 2 points
    Please use this thread to post your questions before and after the Success Webinar! High of Day Break Strategy John has been trading the High of Day Break strategy almost exclusively since early 2020 and he credits it with turning his trading career around. In fact, he has traded it over 1300 times in the past year with great success. In essence, it is a very simple strategy and great for beginner traders. But it can also be easily adapted to add specificity and complexity to account for things like stock price, time of day, nearby levels, etc. The beauty of the strategy is that it provides a very basic starting point from which a trader can begin to develop their own unique edge. Date : Tues Jan 19, 2021 Time : 8:00 PM ET Location : Webinar Room (Lifetime Members only)
  3. 2 points
    Check this nasdaq screener, you can get a csv file and import it to DAS Trader watchlist(s), just be mindful of DAS max limit of 1K tickers. Then every morning sort by gap ($ and %) and volume to find what is in play. https://www.nasdaq.com/market-activity/stocks/screener
  4. 2 points
    Hello. My name is Scott - my username does not give away my age but I'm not MUCH younger than that. I'm here because I have a vision to transition to trading to provide at least 1/2 of my income in ~2 years when I choose to (or am force to) retire from my current company. I am blessed that I have time between now and then to learn and practice at night - once I'm able to go live I'll have certain time limitations until I do leave my company. I believe trading suits my personality - I'm disciplined and I'm comfortable with risk and I want to be home with my family and live flexibly (location / land). This community seems to be the right place for me. Right now I'm a few videos into the "education" section. I'm a brand new trading baby and really don't know much at all yet - my brain hurts with everything so far :). Scott
  5. 2 points
    Hi Folks My name is Shannon - I'm from Calgary, Alberta, Canada. I'm typically a pretty shy person - but thought I'd reach out to the community and see where it leads - I'm quite excited to be a part of the BBT community. I stumbled upon Andrew's book last summer and was immediately drawn to his ability to humbly and clearly communicate information that I find is typically made quite technical and confusing. It led me to the website where I lurked around for a week. Once again I was quite impressed with the humility and helpfulness of not only the moderators - but the entire community. I watched a few trading sessions and browsed through the learning material and decided quite quickly that this was the environment that I wanted to learn to trade - I actually did not even look at any other trading communities - and I became a Lifetime Member. I've spent my entire career of 31 years in emergency services as a paramedic and firefighter. I'm eligible to retire in the next 12 months - not sure exactly when I will - and I've thought several times that Day Trading may be a perfect 2nd career. Fortunately - I have a plenty of time to patiently and systematically learn and practice the material. My dream is to become profitable as a trader so that retirement from my current career is a simple decision - and I can spend more time with my wife and family. Looking forward to this new journey!!
  6. 2 points
    Few users asked about this in chat, posting here so everyone can see how I do my ATR chart. 1) Create a new "Daily" chart 2) Download the linked .zip file and unpack it. --> https://drive.google.com/file/d/12JJGdg_SOeQVM-avM7_N-pNbDRQfN2wz/view?usp=sharing 3) Right-click the chart you created in DAS and select "Import Settings" --> Select the "ATR-chart-setup.cst" file you unpacked in #2. 4) You may need to select the chart and zoom all the way in for the effect to work. 5) Move the chart and place it where you want it. As a side tip, you can right-click the border and choose to hide the title-bar (making it smaller). I do it like this to fix a few issues .. DAS's ATR study doesn't allow you to hide the line on a chart and a chart must have either a volume or price study. If the chart is small, it'll make all of these lines behind the study info, making it hard to read .. if you make the line color white, it'll make the study color white. So I use the Volume Study with the same color as the background placed above the ATR studies to "hide" the lines. You then just need to zoom all the way in (should stay), and you'll end up with just the Study Info in the upper corner. Screenshot:
  7. 2 points
    yes please do let us know. do not get me wrong. i am not discouraging you from doing your own thing. i am just advising you to use your time wisely. it is like going into a gym taking some weights and starting doing something you have in your mind instead of doing some actual effective excercises plan listed right in front of you on the wall.
  8. 2 points
    If time is an issue, I would learn the 5-min ORB. Carlos taught a very good class on it. Here's the link https://bearbulltraders.com/course/strategy/lesson/abcds-orbs-2/topic/trading-a-5-minute-orb-2/ In my opinion, the 1-min ORB is too dangerous for beginners, the 5 min can be fast too, but very effective when practiced and having a strong foundation on how everything else works. I tossed my other strategies, and strictly trade 5 min ORBS. I wish I would of started with them since the beginning. I've been having a high success rate with it. Good Luck on what you decide to do.
  9. 1 point
    so my account has been migrated from IBUK to IBIE and the PDT limits are gone. I will test it later today and post. Anyway my buying power is twice the size i had in IBUK too. Be aware that the protections of your account is also very lower. only 20k is protected. it was 500k in IBUK. edit: so no PDT for EU citizens. yay!
  10. 1 point
    Missed the first hour of trading today, had a Doctor appointment. Nasal/Allergy checkup only, nothing serious. Again today I was very disciplined with the "No Strategy" problem. I watched all day long and only took one trade! WFC Mountain Pass I did not like the lack of enthusiasm (Volume) after the second bottom, so I took a partial at the 50SMA. then the lack of enthusiasm once it crossed the 50 was another sign that this didn't have the juice that most of these setups have. I exited before BE once it lost the 50 a second time. Here is a trade I should have taken, but when I typed NKLA in chat, Aiman flipped to it and said "Nothing is happening here". I have to remember, this is my TradeBook setup, other traders have different setups and indicators they like.....this looked good to me and I should have taken it. Would have easily reached 2R on this trade. maybe more. Aiman doesn't care much about volume, he is a candle pattern genius though. I really liked the Volume spike at the bottom and the long lower wick. then when the next low happened, another long wick. Lesson learned. Solid first week back to a LIVE account. I had one bad day of "No Strategy" but have put some tricks into place to help with that. For the week I was -0.43R. Excited to take my new discipline trading into next week. See you all Tuesday.
  11. 1 point
    Hi HC2, I took that exactly same BABA trade with the same result A powerful hammer on a million shares volume. A good trade that just didn't work out this time. That double bottom NIO trade was awesome. I just took a screen cap of it to add to my playbook examples. Rob C
  12. 1 point
    @Skye You can trade with under $25K on a cash account. Just "play" with half your account value every day so your money has time to clear. I.E. if you have $15K, use $7.5K per day to trade with and you will have money cleared to play with every day (because it takes 2 days for funds to clear when your account is a cash account instead of a margin account).
  13. 1 point
    Right, I meant locked, not closed. Thanks for clarifying, that's what I needed.
  14. 1 point
    After checking the European and US sites it appears that the fees are the same. I put below the Tiered prices, which are the same in both places. I hope this is what you meant. United States - Tiered VOLUME (PER MONTH) 2, 7, 8 IB COMMISSION PER SHARE US STOCKS, ETFS, ETPS AND WARRANTS MINIMUM PER ORDER MAXIMUM PER ORDER <= 300,000 Shares USD 0.0035 USD 0.35 1.0% of trade value 300,001 - 3,000,000 Shares USD 0.002 USD 0.35 1.0% of trade value 3,000,001 - 20,000,000 Shares USD 0.0015 USD 0.35 1.0% of trade value 20,000,001 - 100,000,000 Shares USD 0.001 USD 0.35 1.0% of trade value > 100,000,000 Shares USD 0.0005 USD 0.35 1.0% of trade value
  15. 1 point
    After that trade, I'm pleased to say that I sat at my station all day, and did not take another trade in SIM or LIVE. I consider that a good sign that my discipline to stick to TradeBook setups only is improving. Let's go 2021.
  16. 1 point
    First, every trader is unique, so if this works for you then I say go for it. However, I think you are potentially opening yourself up to big potential losses. My guess is after several sample sets you will have more winners than losers, but your average win will be much smaller than your average loss. You will most likely take a lot of trades and not make a lot of money (at least not enough to justify the time invested). Hopefully I'm wrong, but that would be my guess based on my own trading experience. Second, I would recommend you take a good hard look at your playbook first. I think I understand where you are coming from though. I have often thought about a similar strategy to what you are describing, especially with my BHOD strategy. On slower up moves toward the HOD (not punching up) I still get the break, but they don't always move a lot higher, and if they do, they do slowly. Sometimes they break, move back down, then move higher. My plan is to take a 2r size at the break with my normal stop. Take half off the trade when the price stalls after the initial break and move my stop up to break even on the trade (no risk of loss and no gain if it falls) or my entry (to lock in profit). Then play it like my normal BHOD. I may still play with this in sim, but for now it's not my focus for one reason. My problem is in my playbook and/or execution of it. Once I started trading live most of my trades were around break even (+/- less than 1r). I was making a little money and my win rate was super high (80%+), but I was stopping out of most of my trades within 5 minutes. A lot of trades I stopped out in less than a minute. After listening to Peter talk about how he would make more money by letting his winners run, but it would drop his win rate I decided I needed to work on letting my trades play out. I lowered my risk and tried to do just that. And it worked. My win rate dropped, but my average win increased. This also brought up a bunch of other trade management issues I was unaware I had. I have been correcting those issues over the past few months. Now that I'm doing a better job managing my trades I have noticed something else. I'm getting a lot of 1 partial then stop at break even trades. I'm in the process of going through all my data again, but what I'm gathering is I need to work on my playbook. My setups are ok, but I think they are too broad. I like to take trades, so I tend to see setups even when they aren't the best. Or they have some, but not all of my criteria. I've eliminated quite a few plays from my playbook that just were not working for me for one reason or another. Now I have 5 plays in my playbook which is about half what I had before. If I only take those plays when they are good setups and I follow my trade management rules I make money. Sorry that was a long post and has more to do with my trading than your question, but I hope that helps you. I guess my main point is take a look at your playbook before you try a riskier strategy. Maybe there's something in your setups or management that is causing the results you are getting. If you do try this live be very careful with how much risk you take. Don't blow up your account trying to add a couple bucks to your trades.
  17. 1 point
    just use normal hotkey script but change the BID to ASK or ASK to BID depending if it is a short or Long trade
  18. 1 point
    I use TechSmith Capture. I am quite happy with it. You can save it as an image, link or video.
  19. 1 point
    @hailchaser2 Thanks for the input and info. I started using ChartLog when I switched to IB/DAS about 4 months ago, so hopefully I at least have that hurdle covered. Good luck going live again and post updates on how it's going for you!
  20. 1 point
    WOW at the difference between All Trades and Tradebook Only trades. I'd love to hear your thoughts/see what you developed during the PCT Bootcamp, I'm doing it on this next go around coming up. As for your not being able to stay away from trades outside of your Tradebook - how long had you been trading before you did the Bootcamp? I'm coming up on 2 years trading and for some reason I don't understand, I've found this calm and have started only letting myself trade "my trades" (playbook in my head, I don't have a real one...yet). Depending on how long you've been trading, I'm thinking the change finally comes along when you've lost enough money and get sick of telling yourself every night "tomorrow I'm GOING to do it this way!"
  21. 1 point
    Hi Fahad, These scipts wont cancel or put in a new stop loss. Script for Selling 50% ROUTE=SMRTL;Price=Bid-0.10;Share=Pos*.5;TIF=DAY+;SELL=Send Script for Buying/Covering 50% ROUTE=SMRTL;Price=Ask+0.10;Share=Pos*.5;TIF=DAY+;BUY=Send You can change the percentage after Pos* to whatever you like. I made them for 100%, 50%, 25% and 10% partials. Hope this works for you, Jeff
  22. 1 point
    Some users asked about this in chat a while back and as I was writing up the documentation on how to do a dual-copy of DAS Trader Pro -- one version for Sim and another for Live -- I realized that it had some complexity which may have made it difficult for some end-users. So to remedy this, I wrote a script to do it for you. I did this with batch / powershell commands (it's been awhile, so not eloquent at all) so that users can see what is going on (no tomfoolery with your accounts). What Does It Do: It's a Windows 10 (if Mac users exist, your mileage may vary) script that will: Makes a mostly symbolic copy of your DAS Trader Pro install (it'll copy over the Config.cfg file, since we need to change a few things) --> If your DAS install is C:\DAS Trader Pro\ it'll create a C:\DAS Trader Pro_Sim\ folder. By default, only the theme folder and .exe exist in the new folder install (the SIM version will check for a version change on the .exe and copy it over as needed for when updates occur), the rest is symbolically linked via the file-system to the main install. This is done so that items carry over their settings (Trendlines, Desktop Layout, Hotkeys, etc.). This is beneficial because if you use the default config then all layout, chart, trendlines, hotkeys, and other options stored outside of the Config.cfg file will be the same in both versions. You can change this behavior with options (more on that in setup below). Right now, options exist for: Desktop Layout (default.dsk), and the Hotkey File (hotkey.htk). Change the background of the simulator install (for better visual recognition). [optional] Add A Sound Alert for the Simulator version when a LIVE account trade is made in it [auditory recognition]. [optional] Add a Sound Alert for the Live version when a Simulator account trade is made in it. Example Image Notes / Prerequisites: If you set your account via as part of hotkey scripts (e.g. "ACCOUNT=U#######") you will want to change those values in your hotkey.htk file and also toggle the config.ini setting for separate_hotkey_file to "separate_hotkey_file=1" (instructions below). I assume most users won't need to this do. How Do I Use It?: Glad you asked. Download the zip file linked below and then follow the instructions here. As a precaution, I recommend you make a backup copy of your DAS install. Easiest way is to go to the folder that contains your DAS install, right-click it, and select "Send to Compressed Zip" .. if your install is in C:\, you'd right-click the "DAS Trader Pro" folder there. Unzip the downloaded file to a directory. If you use the DAS default install location of "C:\DAS Trader Pro\" - and / or - wish to have the defaults, skip to step 3. If you don't use that location, continue reading this part. Go into extracted directory and edit "config.ini": Config Available: ⓐ directory=C:\DAS Trader Pro This is the location of your DAS install. By default, it's C:\DAS Trader Pro as that is the DAS default. ⓑ separate_desktop_file=0 This is if you want to have separate Desktop.dsk files for SIM and LIVE. By default, it's the same layout. To use separate desktop files, set this as: separate_desktop_files=1 ⓒ separate_hotkey_file=0 This is if you want to have a separate Hotkey.htk file for SIM and LIVE. By default, it's the same file. To use separate hotkey files, set this as: separate_hotkey_file=1 ⓓ add_sound_alerts_sim=0 This is if you want to have a sound alert added to your DAS SIM, for this to work properly there will be additional setup (see section "Sound Alerts - SIM Account"). What it does is add an audible alert if you trade with your LIVE ACCOUNT in the SIM ACCOUNT. To use, set to: add_sound_alerts_sim=1 ⓔ add_sound_alerts_live=0 This is if you want to have a sound alert added to your DAS LIVE, for this to work properly there will be additional setup (see section "Sound Alerts - LIVE Account"). What it does is add an audible alert if you trade with your SIM ACCOUNT in the LIVE ACCOUNT. To use, set to: add_sound_alerts_live=1 Right Click "Setup.bat" --> Run-As Administrator a) On Windows Admin Prompt Click "Yes" b) On the command window that opens, make sure it does not give an error. If prompted, type the letter "Y" and hit enter. c) If no error messages, hit enter again to close the command window. Launch DAS using the shortcut created on the desktop as "DasTrader - SIM Account" --> Under ... Blue w/ S is the SIM account. Yellow w/ L is the Live account. You're not done ... go to Additional Setups section. Additional Setup: There's some brief changes we need to make within DAS for this to work properly. Open the "LIVE" version of DAS (the yellow icon). Login and on the top menu bar select "Setup" -> "Order Templates" On the "Account" box, select your LIVE account (for IB users it's likely something like U#######). Hit "Apply This Setting To All Exchanges." [optional] If you enabled the SIM trade in Live Account alert in config.ini, read the next line, otherwise skip to #5. For the Alert to work, go into Top Menu Bar -> Tools -> Alert & Trigger -> Double Click "WARN-LIVEACCOUNT" -> Double Click the "Value" box next to the "Acc" item (it should say "U1111111") -> Set this to your LIVE account. Image helper here. Close DAS. Open the "SIM" version of DAS (the blue icon). Login and on the top menu bar select "Setup" -> "Order Templates" On the "Account" box, select your SIM account (for IB users it's likely something like TRIBT####). Hit "Apply This Setting To All Exchanges." For the Alert to work, go into Top Menu Bar -> Tools -> Alert & Trigger -> Double Click "WARN-SIMACCOUNT" -> Double Click the "Value" box next to the "Acc" item (it should say "U1111111") -> Set this to your SIM account. Image helper here. Close DAS. Download: v1.00 - 1/14/2020 - outdated .. v1.01 - 8/7/2020 - DAS_DASSim_Separation_Script_V1.1.zip Changelog: v1.00 - 1/14/2020 - Release of initial script. v1.01 - 8/7/2020 - Quick rework of the script to be in its own .EXE, this may help with any issues for permissions. Known Issues: v1.00 - 1/14/2020 - My father never really played catch with me as a child, but besides that, there doesn't seem to be any that I'm aware of with the script at the moment. /joke
  23. 1 point
    Yes it's generally meant which of the existing strategies or variations of those. I can't think of anything that sounds closer than high frequency trading (high volume, small moves, quick. Only difference is frequency) which I'm not aware of any individuals doing or at least individuals without a bot (2010 flash crash) It's very difficult for us to give you good reasons because other than the fact it's a large size to get a mini move in your existing strategy direction we don't really have the information to break it down and pinpoint X,Y, Z as a potential problem and so all people can really say is, don't know of other successful traders doing it so probably a bad idea without actually processing what it looks like and whether it could work. I know how you feel, if I'm confident I'm right then until I see the data that proves my thesis incorrect then it'll just bug me no matter what other people say and I think that's probably the case with you here. Because we don't really have any detail on what you're planning just some questions that came to my head immediately that I'd ask yourself before you spend a lot of time testing: - What R are you going to get from this strategy, 1R requires 50% before commissions and 0.2R 84% before commission just to break even. Those are vastly different trades, with 1R I'd give it a shot in Sim as many partial there anyway so if you're seeing that 90% of the time then that's much more sustainable than 0.2R, personally I wouldn't even waste my time trying 0.2R on an ORB extension strategy with someone else money. - What size are you going to take to make this worth it and what type of stock? What if you get stuck in a news halt or volatility halt in a low float, will it blow up your account? Is there enough liquidity in the stocks you're trading to do what you're planning e.g. Andrew can only really trade certain stocks because of his size. Does the size mean slippage is going to become an issue because you're only looking for a tiny move? Is it a scalable strategy even if it's viable with your current size? What is commissions going to do to your strategy, if you're looking for $0.05-$0.10 moves with a low R could be issue as it could eat 10% of your profit on a strategy that doesn't have that flexibility (e.g. 0.2R needing 84% before commissions). What is your basis for taking the partial if you're not doing it at a resistance point and that you're not going to do it too early/late, R? - What is wrong with your existing strategy that's making this a strategy you want to look at? As someone new, if tried and tested strategies aren't working for you whilst working for others my first question would be why rather than looking to develop a new one? For example chasing entries, lack of patience to wait for a good entry, low volume, lack of price battle resolution, entering into a logical resistance point (prior resistance, pivot points, half/whole dollars etc), stock selection etc. Is this new strategy going to negate that issue because experienced traders are already getting 70-80% success rate with their relevant size so whats the pro of looking for a strategy with a small move? It's easier to stick roughly to what other people are doing because day traders are looking for similar things and so it can become a self fulfilling prophecy at times. As Peter said it's not to discourage, the market is tough enough for a new trader without trying to reinvent the wheel. As you said it's probably not completely unique so if it's legit then why not try to find a successful trader who does something similar and take learnings from them rather than putting in the many 1000's of hours hard yards that have gone into the strategies that traders here use. I'm always looking to improve so would be great if you have found something, best of luck if you decide you must travel that path.
  24. 1 point
    Me too, and that we never post P/L screenshots on social media! Be quietly successful is my aim.
  25. 1 point
    Those questions you oped there are very interesting, I am afraid I haven't got the answers for them, though if you found out for yourself I would really appreciate if you could share that information with us too. Thank you @krooto! Cristhian Arce
  26. 1 point
    Hey guys! I am Cristhian, I work and live in London, just got started on my trading career, I read Andrews's book "How to day trade for a living" witch I loved and really got me exited about learning all about day trading. Its comforting to know that there are other traders in the UK, for a moment I even wondered if it was possible, as I don't know yet how easy is the process to activate your trading account with a broker from here, how to deal with taxes, etc... I would be happy to have a meet up in central London once this pandemic and the restrictions are over here. Cristhian Arce
  27. 1 point
    Hey MattfromNZ! I'm still learning. That being said, My watchlist is focussed on both small/low floats with (blah, blah, blah) and known stocks with well known Range-Of-Day price action (of course with setups, news, etc). It is both for the quick and fast (scalping) and long haul stocks (those stocks I don't mind holding for the next 3 months or more). If I am going to hold a stock once I leave my home office, it can only be a stock I am comfortable with as an investment stock. Otherwise, I take a loss and leave for work ready to focus on my work. Strategy wise, I focus on levels, and chart pattern for confirmation of entries. BUT, I am not the one to ask about proven strategies and whatnot. There are others far better at this than me. This is just my decided approach to learning, trading, etc. Scanner wise, I use the gappers list from other sites as I get up to start trading at 7:30EST. If there is nothing there, I have some faithful stocks that consistently move during the day.
  28. 1 point
    Hi all.. I am very new to this, despite years of interest. I have just spent the 4 week UK lockdown studying, researching and processing what I want to do and have landed on this group having read all of the books and crammed in as much information as my brain can take! I can see quite clearly the path ahead , but in terms of next steps, but I would appreciate it if any UK members could give me some pointers - about the tools side of things and any set ups that have worked technically speaking. It seems that we in the UK have advantages/disadvantages to deal with - I just would appreciate any member helping me to understand the best way to get started with UK-centric resources (platforms/brokers/technicals). I realise that things are quite different here in the UK from the USA/North America... I work freelance on a fairly permanent basis, but this is flexible and I plan to structure an educational plan alongside this activity until I feel that it is time to trade live... I am in no hurry to do this, I'm more interested in learning the skills and practising them well. I'm lucky as I will be able to scale up or down my other job, according to time requirements and/or (eventually) profitability. Any UK groups/members input would be hugely appreciated - I live in Milton Keynes (originally from London) if that is of any relevance! Many thanks Alex rebeldoggmct@gmail.com
  29. 1 point
    The minimum specs to run DAS are very very low... https://dastrader.com/docs/hardware-requirements/
  30. 1 point
    Date December 29, 2020 Status (Live/Sim) Live Net P&L (w/ECN Fees) +$328.50 Current Equity $26,041.82 Quality of Life (Kept Short) Bedtime: 1:10a.m. / Awake 6:00a.m. Living with parents / income situation stabilizing Building a buffer on the account, I would like 10 max loss days between me and the starting balance (~$2,500) Direct Questions What did I do well? I did not chase stocks premarket close to the open. I let my stops hit or not without canceling them impulsively. I also moved my stop up on a bad trade on $AAPL. THE BIG ONE: I took a partial at 2R or 3R and then put my stop loss at breakeven. This allowed a very smooth equity increase throughout the day. Took it easy and waited for a more obvious trade. What could I have done better? Changed the color on the upper horizontal level on $AAPL to indicate that it was the beginning of the wicks on the 15 min chart. I may not have taken the second long if I remembered I was going long into tweezer tops. Is the performance pressure I feel increasing or decreasing? Decreasing, I am going to be cautiously optimistic as much as possible as I work my way to the goal buffer ($27,500). Reimplementing the profit taking at 2R or 3R and moving my stop loss to breakeven really works for my psychology and trading style. I stopped taking mandatory partials previously and only moved my stop to breakeven when I hit a 2R amount, but I find that it is super tempting to move my stop or not place the stop at breakeven at all if I don't take any profit on a trade and it comes back to breakeven. The best rules are the ones that you follow! Is the current way I am trading going to lead to long term success? Yes, with a partialling strategy in place, placing my initial stop behind a technical level, and position adds. I feel like my trade management is congealing with my directional interpretations appropriately. What can I improve about my process? Make weekly recaps and identify my favorite days as well as my trading style / market conditions on that day.
  31. 1 point
    Hi everyone, I'm Wayne, from Delaware. I'm 49, single father of two teenage sons, prior active duty US Marine Corps officer in the 1990s, and a federal civilian for the past 20 years. I survived a battle with Hodgkin's lymphoma in April 2020, after six months of chemotherapy and 20 sessions of radiation, so I feel like I'm just getting started on Life Part 2. I enjoy getting outdoors as often as possible and traveling with my sons, and I'm so grateful for the doctors and modern medicine that have allowed me the additional years to do so. I've read four books on trading so far, including two of Andrew's, Brian's, and one other, and spent countless hours on the internet in pursuit of trading research and education. I like to think I have a very good BS detector, and after scratching a lot off of my list, this community looked really good to me. A few days ago, I decided to become a BBT lifetime member, and have begun the training progression and dabbled with the DAS simulator. I watched the live chat room through market open the past two trading days and can already see the immense value this community provides. I'm really looking forward to being a part of it!
  32. 1 point
    That correct Matt, the best approach in my opinion is to work on building skills, growth mindset, proper risk management. Strategies are only small part of the game. The edge is not in the strategy itself, it is you who execute the strategy and here many things come to deal with - emotions, risk, stress, decision making, uncertainty, randomness. Once you start understanding the price action start building your mental capital which is as important as your account capital. There are wonderful materials in BBT Education center on the topic of trading psychology to help you with this part of the journey. Thanks for asking, I have been progressing slowly. First few months were disaster, I just couldn't understand anything although I spend 3 months watching all the lessons and webinars in BBT, read books, taking notes and studying. I went back to the basics and started over and this time slowly the things become more clear. I have embraced Aiman's approach. I trade with 5 $ risk in simulator which is hilarious as many times I will trade 2 shares of Tesla but when I look back it makes sense to me. The goal in this game is to preserve your money and mental capital to trade another day while building your skill and finding your edge. I am consistently green the last 2 months and making 4- 5 R average a day. Now I am increasing my risk to 10$ and planning to add another 5 $ risk every two weeks if I am green. My plan is to slowly transition to live next year, maybe in March. Also considering the option to trade 2 days live in a week and 3 days in SIM for a couple of months and see how it goes before completely go live trading. Merry Christmas and Happy New Year!
  33. 1 point
    Following are actual reports from my account. I had fixed commission rate for few days before I switched to tiered. That's not a lot of trades, on average it's same. Commissions go high for low volume and when you use market or marketable limit orders. There's no one best commission structure, it all depends how one trades. Tiered or fixed, IB does not break down commissions costs. Some of ECN charge pretty hefty fees, there's no single ECN fee value for all executions. Your research further in to this will be insightful. Fixed: Average: 0.00545 Tiered: Average 0.0055
  34. 1 point
    Hi Joerg, Your converted logo is awesome! I also have a stream deck and have set up hotkeys for the DAS simulator. Unfortunately, the hotkeys don't work all the time. Sometimes yes and sometimes no. Not sure what the issue is. I also went out and bought a programable mechanical keyboard, set up hotkeys and they don't always work either. Do you have any experience or knowledge of how the stream deck works with the DAS simulator vs the full pay version of DAS? Any knowledge would be helpful. Thanks, Chris
  35. 1 point
  36. 1 point
    Curious to know if others here are running DAS Trader on a Mac. I am (Macbook Pro), and currently using a trial copy of CrossOver. DAS crashed last Friday -- it could be disastrous if this happens with a position open, so I'm not happy about it. In the aftermath I discovered that DAS won't support issues related to CrossOver. Their customer support was great, but in trying to understand the crash, they'd go only so far. Another issue I've encountered is an inability to span the main DAS window across monitors (this is possible with native Mac apps, and DAS states that this is a capability on PCs). The consequence is that the hotkey that focuses a montage associated to a chart works only when in my main DAS window, which is on my primary monitor. It will not function on secondary monitors, where i need to place DAS charts, montages, etc. that have been popped-out of the main window. While in this early phase with DAS, and still in the CrossOver trial period, it makes sense to also test a virtual machine. VMWare's Fusion gets high marks and has a 30-day trial, but I need to purchase Windows OS, which is available for $110 (or less on 3rd party sites where I won't use my CC). Considering this cost, thought I'd ask for feedback from others here who use DAS on a Mac with a virtual machine. If you're out there, please let me know if you've encountered any issues worth sharing.
  37. 1 point
    Hi, Sorry I should have followed up on this thread too. (I think) I figured it out and replied on the other thread about it that is linked in my OP. Essentially, we borrow USD every time we trade if we don't have enough USD in our account, but the exchange rate has nothing to do with it (At least it is the explanation I got from the IB chat support). Let's say you borrow $100US to buy a stock, and if you win the trade and get $110, then now you have $10US in your account. We borrow $100 in USD, you give back $100 to IB in USD, and have $10 extra. If you lose and sold the stock at $90, now you have negative -$10 USD in your account. There will be interest for this (negative amount - the same as credit or line of credit etc.). You could convert the negative amount of USD from your CAD easily. You could also convert entire CAD to USD but it is not really necessary and actually this would be more risky because of the exchange rate if your base is Canada and your goal is to have more CAD in the end. What seemed to have been an issue with the other thread is that your asset in USD (and it shows in USD in your statements if your base currency is USD) fluctuates depending on the exchange rate. Let's say you have $1,000 CAD in your account and it is about $750USD. If the CAD drops a lot against USD then it might become $730USD by the end of the day. In this case, even if you make $10USD, your statement in USD will be less than where you started (drops from $750 to $740USD). But what you have in CAD would actually be growing ($1,000 CAD plus $10USD equivalent in this case). At least this is my understanding. Anyone please correct me if I am wrong.
  38. 1 point
    I chatted with an IB representative who was very helpful. In short, it seems like there is nothing to worried about when it comes to the exchange rate. I don't think you have to convert everything to USD (or deposit in USD) either. Here is an example. If I have $1,000 CAD and $0 USD and I want to buy a $100 stock, then I am borrowing $100USD from IB. At this point, I have -$100 balance in USD. If I have a winning trade and now I sell the stock at $120, then I have a $20 profit. My USD account balance now will be $20. If I lose and sell the stock at $80, then now I have -$20 balance in USD. For -$20, I will have to pay some interest to IB or you can convert the amount from your CAD balance. As you can see, there is no place for the exchange rate to come in because I would be simply trading in borrowed USD, not CAD that is converted to USD. However, the exchange rate changes every day and when it comes to the total balance shown in USD it changes every day even if you don't trade at all. With the $1,000 CAD scenario, if the USD/CAD exchange rate is 0.8, then your balance in USD is $800, but if the rate drops to 0.78, then the balance will be $780. You would still have $1,000 Canadian. If the CAD value drops significantly, then the total value of your balance in USD drops significantly too and even if you win some trades (in USD), you may have less USD equivalent (as your base currency) at the end of the day than when you started trading in the morning. I think it is what happened to the OP. But I believe you would still have your original CAD balance in your account (plus the positive USD won in the trades).
  39. 1 point
    Hi fellow traders. I would like to share with anyone who may find this useful or perhaps provide a helpful ‘head start’ into the world of Hot Keys. When I began to learn day trading and the importance of using hot keys, I created an editable PDF file which I would refine and develop as my trading progressed. To this day I still refer back to this chart as a constant reminder of my complex hot-key layout. One very nice thing about the PDF I am providing here is the fact that all the comment text boxes and red square boxes are ‘live and editable’. You can use this file as a head start to customize your preferred hotkeys vs. creating one from scratch. (Bit of a time saver) You will find that as you evolve your hotkeys, you will revise your PDF on the fly continuously making it more detailed and accurate for your desired use. Just a note; All I did here was take a photo of my actual keyboard and added some black space around it. I then saved a .jpg file and converted it to a PDF file. A few things I would like to point out here in hopes to answer some possible questions. This layout I am providing here is simply how I ‘personally’ have found to work for ‘my’ for my trading style. Yours can of course differ. - The text boxes Highlighted in ‘yellow’ represent the very active hotkeys I use most commonly - The colored stickers on the keyboard (purchased from a dollar store) are something I did to help me learn with clarity/confidence under pressure. Once you have used them for a while you will most likely find that you do not need colored stickers. Your hotkeys become natural to you. That day will come. - The hotkey scripts I am providing are based on using DAS trader version 5.3.0.5 (and in particular IB as my broker). Please note to ensure that you test out all your hotkeys in simulation mode before you go live. Make changes as necessary. - From my understanding and experience using hotkeys in DAS Trader Pro 5.3.0.5. Hotkeys associated with ‘stop order’ like actions DO NOT work in pre-market environments. (I do not know why). So use at your own discretion and ensure to test out all of them in the simulator environment. Perhaps now that I have done this, it might be nice for other fellow traders to share their hotkey layout and what works well for them. Be nice to see other trading styles. Happy trading everyone! And good luck! Uploaded; April 20 2019 Revision: 0 DAS HotKey Layout and Shortcut Scripts REV0.pdf
  40. 1 point
    Thank you man you just helped make trading easier!! If you ever in brooklyn new york and need a drink hit up this forum . Cheers!
  41. 1 point
    Since this subforum is by far the most active, we've stickied this FAQ which contains links to individual posts. This post will be updated regularly. [Last updated: Jun. 18, 2020] DAS Trader Downloads DAS Trader Pro Production Releases for Interactive Brokers DAS Trader Pro Production Releases for CMEG BBT DAS Simulator Production Release (ONLY IF YOU GOT DAS SIM THOUGH BBT) When doing an install of a new version, it is always a good idea to back up your settings! DAS Trader Pro references, education and support OFFICIAL: DAS INC DAS TRADER PRO - DEMO Tutorial - How to Correctly Use DAS Trader Pro User Guide and Manuals DAS Trader Official YouTube Channel DAS Weekly Free Q&A Webinar DAS Trader Pro Knowledge Base DAS Trader Pro Risk Control explained in Knowledge Base. Common DAS Trader errors No More Order Server to Connect’ error message ‘Wrong Trader’ error message “Lost Connection to Quote Server” error message General Where can I subscribe for DAS Trader Pro live account for Interactive Brokers? How to Change Your Equity and Buying Power in Simulator How to Switch Between Live and Demo Accounts Update/Upgrade DAS To Latest Version Understanding the DAS Account Report DAS Deluxe Package - Switching Options L2 for ARCA Book DAS Trader on MAC OS also see DAS Trader FAQ > 5. SYSTEM REQUIREMENTS How to link symbol selection in Trade Ideas to DAS How to set a price alert in DAS How to add Audio Alerts in DAS How to Configure DAS Mobile for Android or iPhone Definition of Time and Sales Flags How to use the DAS Risk Control Page List of Index tickers (SPY, DJIA, NASDAQ, RUSSELL, etc.) How to Make a Pre-Market Scanner in DAS DAS Trader Videos Playlists in YouTube DAS Trader Tutorials (basic DAS Trader configuration) DAS Trader Pro Instructional Videos (Advanced DAS Trader Features) Market Replay Mode How to use new DAS Trader Market replay feature Montage, Windows, and Layouts How to Make Your Custom Layout Load as Default on Startup How to link Montage to Time&Sales and Charts? How To Setup Multiple Monitors in DAS How to Duplicate a Montage, Chart or Other Window Montage / Level 2 color and shade settings How to Quickly Add Rows to Watchlist (Market Viewer) How to Change Order Button Colours (BUY, SELL, SHRT, CXL, RPL) Select Active Montage to Trade Definition for each of the Level 1 (L1) fields at top of Montage How to select the montage before placing a trade Charts [VIDEO] How to configure charts in DAS Trader Pro: Education Center How to Add Index Tickers for SPY, DOW, NASDAQ DAS Trader Tutorial – Make Your Chart Look Like Andrew's How to Add Average Line to Volume Study How to Drag and Drop Horizontal Lines How to Transfer Price Levels to Another Chart Drawing Support and Resistance Lines in DAS How to add previous day close (PCL), high of day (HOD) & low of day (LOD) How to Prevent Chart from Zooming out When Switching Symbols How to Add/Remove Trade Icons on the Chart Show trade info on chart (triangle click) How to Increase Y-Axis Scale to See More Price Levels / This can now be done with the newer versions (5.4.0.0+) of DAS using hotkeys Change Default Number of Candles How to add Relative Strength Index (RSI) to Chart How to Draw a Diagonal or Sloping Line How to Change font size in Chart How to add separator line for Pre-Market (Open) and After-Hours (Close) How to correct short/small candlesticks by excluding Studies from Y-Axis Scale (Y LOW, YY HIGH, etc). How to Zoom in on Specific Area of Chart Why is VWAP sometimes different between 1-minute chart, 5-minute chart, and/or Montage? How to add vertical lines on 1-minute chart to show each 5-minute period How to add Average True Range (ATR) to DAS Daily Chart How to add and use Volume by Price study How to add bid & ask to your charts How to add RVOL in DAS? Order Entry Advanced Lesson: Stop Loss in Your DAS Trading Platform Trailing Stops How to Lock Your Montage Placing Both Stop Loss and Profit Target in DAS How to set a Bracket aka Range aka OCO order (includes hotkeys) Hotkeys and Hotkey Buttons - Always test your Hotkeys in simulator Most frequently used hotkeys Terminology Clarification: Hotkeys vs Hotkey Buttons Programming hot key for stop loss Buy/Sell Hotkeys for Automatic Stop Loss How to Create HotKey Buttons on the DAS Montage Level 2 Window Hotkeys for Flipping Position Hotkey for buying based on a percentage of Buying Power How to Adjust Montage Hotkeys Button Size What does the Panic hot key do? How to set up hotkeys for trailing stops Hotkeys for adjusting share size How to create hotkey which launches Finviz page for a selected stock Hotkey for automatic share size based on max dollar loss Hotkey for automatic share size based on % loss of account How to short stocks in SSR: see here and here Thor´s Freeroll Hotkey DAS Trader Pro Support Live Chat Support Das Trader contact page to send messages DAs Trader Support Email DAS Hotkey Line Style Configuration tool.
  42. 1 point
    Yes, you need and active montage before placing any trade. You can use that script as follows: Name: select activate montage trading window Key: END Command(s): SwitchTWnd if you are using Andrew's hotkey file, it should already be there (End:select activate montage trading window:SwitchTWnd) Test how it works when using multiple montages.
  43. 1 point
    @KyleK29 It does look like there is a bug in the spreadsheet. Changing the short to Short-SSR doesn't change anything for dollar risk. It does work as intended for Equity Percentage. Dollar Risk - Short: StopPrice=Price+0.01;DefShare=BP*0.97;Price=Price-Bid+0.01;SShare=150/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare;TogSShare;ROUTE=LIMIT;Price=Bid-0.05;TIF=DAY+;SELL=Send;DefShare=400;TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice+0 ACT:BUY STOPPRICE:StopPrice QTY:Pos TIF:DAY+; Dollar Risk - Short SSR (The highlighted red part is not happening on the spreadsheet) StopPrice=Price+0.01;DefShare=BP*0.97;Price=Price-Bid+0.01;SShare=150/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare;TogSShare;ROUTE=LIMIT;Price=Bid+0.01;TIF=DAY+;SELL=Send;DefShare=400;TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice+0 ACT:BUY STOPPRICE:StopPrice QTY:Pos TIF:DAY+; Equity Percentage Risk - Short: StopPrice=Price+0.01;DefShare=BP*0.97;Share=DefShare*0.167*Price*0.01;Price=Price-Bid+0.01;SShare=Share/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare;TogSShare;ROUTE=LIMIT;Price=bid-0.05;TIF=DAY+;SELL=Send;DefShare=400;TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice+0 ACT:BUY STOPPRICE:StopPrice QTY:Pos TIF:DAY+; Equity Percentage Risk - Short-SSR (The highlighted blue part is working in the spreadsheet) StopPrice=Price+0.01;DefShare=BP*0.97;Share=DefShare*0.167*Price*0.01;Price=Price-Bid+0.01;SShare=Share/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare;TogSShare;ROUTE=LIMIT;Price=Bid+0.01;TIF=DAY+;SELL=Send;DefShare=400;TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice+0 ACT:BUY STOPPRICE:StopPrice QTY:Pos TIF:DAY+;
  44. 1 point
    All credits go to Jamie N. Great work and thanks again.
  45. 1 point
    I created this Google Spreadsheet to help myself with position sizing, and I thought I would share it with you guys. I always have this printed out and laying on my desk while I am trading. I did take this a step further and created a custom keyboard with hotkeys, but I will share that info at the end. With this spreadsheet you are able to calculate your position size on the fly, just by knowing the distance to your stop loss. By default, the risk is set to 100. This means every single trade that you take, you should lose no more than $100. An example would be, if my stop loss is 0.30 away, my position size for that trade would be 334 shares. You are able to change the default risk to what ever you are willing to risk, and your share sizes will automatically be calculated. Here is the link: https://docs.google.com/spreadsheets/d/1iD0qiPLulbYSFri9r38SG1Ke7eNiZdFHNg8MldGwSng/edit?usp=sharing To use this Spreadsheet: make sure you are logged in to your Google account, so you are able to copy the spreadsheet to your Google Drive go to File -> Make a copy... -> Then save it to your Google Drive Once you have copied the spreadsheet, you can now edit the default risk of 100, and your share sizes will be calculated accordingly A step further... The Keyboard Having this printed on your desk does help you easily calculate your position size, but it does have one drawback. You have to enter your position size in manually, which does eat up precious time. I wanted the idea of the chart used as hotkeys, so my solution was a custom keyboard. I have attached the proof I got back from http://www.wasdkeyboards.com, as well as a photo of the physical keyboard. How it works As you can see from the images, the distance to stop loss is printed on the alpha keys. If I have my hotkeys set up to risk 100 per trade, Short+Modifier+E would short the stock with 667 shares: Risk: 100 Distance to stop loss: 0.15 100 / .15 = 666.6 (667 rounded up) Conclusion Having the spreadsheet printed in front of me while I trade really helped with my position size. The keyboard really helped me execute my trades faster.
  46. 1 point
    I think this is just personal preference. At least it is for me. I only highlight the top bid and ask. All other prices below are one color so it's all easy to read and not too much flickering. It's good to set it up so it's easy on your eyes. This is what mine looks like in Lightspeed.
  47. 1 point
    Yes, those routes are specific to IB. Use LIMIT and MARKET in lieu.
  48. 1 point
    A Alert: brokerage trading platforms offer an alert feature that can be set up to advise a client by text or email that an event, such as a stock hitting a specific level, has occurred. You may be watching this stock and wanting to enter a trade once the specific event has occurred. Algorithm: a proprietary computer program that executes trades based on programed inputs. The inputs could be technical indicators such as moving averages or they could be newswire feeds where computers will trade off of key words or phrases. Ask: the price sellers are demanding in order to sell their stock. It’s always higher than the bid price. Average daily volume: the average number of shares traded each day in a particular stock. I don’t trade stocks with an average daily volume of less than 200,000 shares. As a swing trader, you will want sufficient liquidity to be able to get in and out of the stock without difficulty. At times this term will also be referenced as “average volume”. Average relative volume: this is the number of shares traded in a stock compared to its average daily volume. I like to see stocks with an average relative volume greater than 1.5, which means the stock is trading more than 1.5 times its normal daily volume. This would likely be due to heightened interest by traders and investors in the stock. At times this term will also be referenced as “relative volume”. Average True Range/ATR: how large of a range in price a particular stock has on average each day, taking into account gaps that occur between market sessions. Averaging down: a technique that some traders employ which involves adding more shares to a losing position in order to lower the average cost of that position. They hope the stock will eventually move back in their favor enough so that they can sell and break-even. I do not average down because this may magnify losses. I stick with my trading plan and sell when I hit my stop out price. B Bear: a seller or short seller of stock. If you hear the market is bear, it means the entire stock market is losing value because the sellers or short sellers are selling their stocks. In other words, the sellers are in control. Bearish candlestick: a candlestick with a big filled body demonstrating that the open was at a high and the close was at a low. It tells you that the sellers are in control of the price for the period represented by the candlestick and it is not likely a good time to buy. Figure 7.4 illustrates 2 bearish candlesticks. Beta: the amount an individual stock will move in relation to the market or underlying asset. High beta stocks or ETFs will move more on a percentage basis than the market or underlying asset. Bid: the price that traders and/or investors are willing to pay to purchase a stock at a particular time. It’s always lower than the ask price. Bid-ask spread: the difference between what traders are willing to pay to purchase a particular stock and what other traders are demanding in order to sell that stock at any given moment. It will change throughout the trading day. Traders will refer to a “wide spread” when the bid and ask are far apart. This spread is partly a function of the stock price. For example, a $300.00 per share stock might have a bid-ask spread of $1.00 versus a highly traded $20.00 per share stock where the bid-ask spread would be $0.02. Broker: the licensed company that buys and sells stocks on various stock exchanges based on instructions taken from investors and traders. These instructions can be placed online and directed to the exchanges or taken by an employee at the company which executes the trade. Having an employee place a trade is much less common today versus 30 years ago when it was the only way to buy and sell stocks. Using an employee is also a much slower process compared to trading online. Bull: a buyer of stock. If you hear the market is bull, it means the entire stock market is gaining value because the buyers are purchasing stocks. In other words, the buyers are in control. Bull flag: a type of candlestick pattern that resembles a flag on a pole. You will see several large candles going up (like a pole) and a series of small candles moving sideways (like a flag). After consolidation, the price will break higher. Bullish candlestick: a candlestick with a large body toward the upside. It tells you that the buyers are in control of the price and will likely keep pushing the price up. Figure 7.3 illustrates 2 bullish candlesticks. Buying long: buying a stock with the expectation that its price will go higher. Buying power: this represents the capital in a trader’s brokerage account. Buying power will vary depending on the type of account you have, the broker’s rules on lending if you have a margin account and what you hold in the account such as cash, shares etcetera. C Candlestick: a very common way to chart the price movement of stocks. It allows you to easily see the opening price, the highest price, the lowest price and the closing price value for each time period you wish to display. Chasing the stock: chasing happens when you try to enter a position and the price keeps moving away from your desired entry. For example, you want to go long on a stock at $4.50 per share and the share price keeps moving higher above your bid. As the share price moves higher, you keep entering a higher and higher bid hoping to get filled. This will negatively affect your reward to risk ratio if you chase the price up too far from your desired entry price. Chatroom: a community of traders. Many can be found on the Internet. As a reader of this book, you are welcome to join the BearBullTraders.com chatroom. Choppy price action: occurs when the price of a stock cycles up and down in a range with relatively small movements of price within the cycles. You should try to avoid stocks with choppy price movements and wait for signals that the stock price is ready to move outside of the trading price range. Churning: this refers to a specific type of price movement where a security will not be trending in any direction. Instead, there are small waves of erratic buying and selling with no significant price movement in one direction or the other. Close (“the close”): this refers to the last hour the stock market is open: 3:00 to 4:00 PM ET. Higher levels of volatility or price movements can occur in the last hour of trading. Consolidation period: consolidation usually happens after a sharp move up or down in the price of a stock. Some traders are getting out of their positions while others that missed the move are entering. This fight between the buyers and sellers causes the stock price to pause before resuming the original trend or reversing. D Day trading: the business of trading stocks based on very short-term technical signals. Time frames of 1 minute and 5 minutes are commonly used to find trades. Day traders do not hold any stocks overnight; any stocks they purchase during the day are sold by the end of the trading day. At the close of every trading day, a day trader holds all cash in their accounts. Death cross: occurs when an uptrending stock changes to a downtrend. The death cross event occurs when the faster moving 50-day simple moving average (SMA) crosses the slower reacting 200-day SMA. The 50-day moves from above the 200-day to below it when the cross is made. Doji: an important candlestick pattern that comes in various shapes or forms but are all characterized by having either no body or a very small body. A doji indicates indecision and means that a fight is underway between the buyers and the sellers. Double bottom: a “W” pattern that occurs in a chart when a stock price drops to a low, bounces higher temporarily, and then drops again back to the previous low. On the second dip lower, the buyers take control again, thus moving the price higher. This creates a strong level of support and is an indication that the stock price will likely continue to move higher. Double top: an “M” pattern that occurs in a chart when a stock price rises to a high and then drops back temporarily. The price pushes higher again but fails to make a new high on the second run higher. The sellers then take control again, moving the price lower. This creates a strong level of resistance and is an indication that the stock price trend will likely continue to move lower. E “Either or” order: this is 2 orders that are entered by a trader. The orders are linked so that as soon as 1 of the orders is filled, the other order is cancelled. This allows you to both set a stop-loss to protect from excessive losses and also enter an order at a profit-taking price. Entry point: when you recognize a pattern developing in your charts, your entry point is where you enter the trade. Exchange-Traded Fund/ETF: an investment fund traded on exchanges and composed of assets such as stocks, bonds, currencies and indexes to name just a few. There is a huge variety of ETFs that are available today where you can play almost any sector or tradable asset. Exit point: this is the price where you plan to dispose of all or part of your position in a security. It can be the profit target price or it could be the stop-loss price. You make a plan before taking an entry and you stick to your plan unless there is a good fundamental reason to change the plan. Exponential moving average/EMA: a form of moving average where more weight is given to the closer dates in the moving average period. The EMA will respond more quickly compared to the simple moving average where all prices over the period are given an equal weight. F Flag pattern: a chart pattern that resembles a flagpole and flag. Flag patterns can be bullish or bearish and represent a strong move, followed by a period of consolidation (which forms the flag part of the pattern) and then there is a continuation in the trend. Float: the number of shares in a particular company available for trading. Forex: the global foreign currency exchange market where currencies are traded. All currencies are traded in pairs, such as the US dollar against the Euro. Forward guidance: refers to comments made by a company’s management that is related to how they see business prospects in the future. The companies may provide earnings projections for coming quarters. These remarks are usually made during an earnings report conference call and can have a significant impact on the stock’s future price movement. Fundamental catalyst: some positive or negative news associated with a stock or a sector, such as a US Food and Drug Administration approval or disapproval of a medicine, or a series of hurricanes in the Gulf affecting oil and building supply prices. Futures: futures are a contract that requires the buyer to purchase an asset at a specific price and future date (such as oil, lumber, wheat, currencies). A seller of the futures contract is contracted to deliver that asset at a specific date and price. These financial instruments are highly risky, only used by sophisticated traders and big companies, and often as part of hedging strategies. G Gap down: occurs when a stock closes the previous day at 1 price and opens the next morning at a lower price, leaving a gap between the 2 prices. Small gaps will often happen between trading days and large gaps will happen if there has been some negative news regarding the stock, associated sector or market. Gap up: occurs when a stock closes the previous day at 1 price and opens the next morning at a higher price, leaving a gap between the 2 prices. Small gaps will often happen between trading days and large gaps will happen if there has been some positive news regarding the stock, associated sector or market. Golden cross: occurs when a downtrending stock changes to an uptrend. The golden cross event occurs when the faster moving 50-day simple moving average (SMA) crosses the slower reacting 200-day SMA. The 50-day moves from below the 200-day to above it when the cross is made. H High-Frequency Trades/HFT: a type of trading done by the computers on the various exchanges. These trades are being executed at a very high frequency and often to make tiny gains on price movements in stocks. There’s no need for swing traders to be concerned about this activity because swing trades take place over days, weeks or even longer periods of time. I Illiquid stock: a stock that has a very low volume of shares traded during the day. These stocks can be more difficult to sell and buy and therefore you may not get the price you had hoped to get on entry or exit. The bid-ask spread can also be wider in the absence of higher daily trading volume. Indecision candlestick: a type of candlestick that has a small body and similarly sized high tails and low tails. They are referred to as spinning tops and they usually indicate a fight for control of the price between the buyers and sellers. It’s important to recognize an indecision candlestick because they often indicate a pending price change. Indicator: an indicator is a numeric value produced from a mathematical calculation. The calculation can be based on a stock’s price or it can be based on both price and volume. These numeric values can be used as a gauge of trader and investor sentiment toward a stock or security and are often used to scan the market for trading opportunities. Understanding these indicators can help you find and execute trades. Institutional trader: a trader who works for an investment bank, brokerage firm, mutual fund or hedge fund. Intraday: trading all within the same day, between 9:30 AM and 4:00 PM ET. Investing: investing involves purchasing some asset and expecting it to grow in value in the short term or the long term. Investment account: a regular brokerage account that allows you to trade stocks up to the maximum value of the cash in your account. L Lagging indicator: lagging indicators are indicators that provide you with information based on activity that has already taken place, but they do not provide any guidance for a future event. Leading indicator: leading indicators are indicators that provide some information about what the future could hold. For example, an increase in building permits filed likely indicates higher levels of construction activity. Level 2: a tool commonly used in day trading that will show you buying interest and selling interest (bid and ask) at various price levels. It is not applicable to swing trading. Leverage: the margin your broker provides you based on the capital in your account. The leverage varies between brokers, what you are holding in the account (cash and securities) and share price. Limit order: an instruction you give to your broker to buy or sell a stock at a specific price versus a market order which is filled at the best possible price at that time. There is a chance the limit order will never be filled if the stock price moves away from your order. Liquidity: liquidity means there is sufficient trading volume in a stock for you to be able to enter and exit a trade around where you target. You always want to ensure you can easily get in and out of a trade. Long: being long or “going long” means you have purchased stock in the hope that it will increase in price. For example, “long 100 shares Tesla” means you have purchased 100 shares of Tesla in anticipation of their price increasing. Low float stock: this is a stock with a low supply of tradable shares. Usually, this means less than 10 million shares available for trading. When there is a large demand for shares in low float stocks, their price will rise dramatically due to the shortage of shares available to own and trade. These stocks are typically lower-priced shares and can represent good trading opportunities. M Margin: the leverage or borrowing power your broker gives you to trade with based on the assets (money and stock) that you hold in your account. Margin account: an account that allows you to buy and sell using margin or leverage based on assets held in the account. Margin call: a notification you receive from your broker that the assets in your account no longer meet their lending requirements. This will happen when you have trades that are going against you and the account value is decreasing. Immediate action needs to be taken by adding more cash to the account or exiting some current stock positions. Marketable limit order: an instruction you give to your broker to immediately buy or sell a specific stock within a range of prices that you specify. This helps you to get a fill but not to overpay for an entry. Market cap/market capitalization: a company’s market capitalization is the total dollar value that investors consider a company to be worth. It is calculated by multiplying the share float by the price of the shares. A company with a float of 50 million shares that trades at $10.00 per share is considered to have a market cap of $500 million. Market maker: a broker-dealer who offers shares for sale or purchase on a stock exchange. The firm holds a certain number of shares of a particular stock in order to facilitate the trading of that stock at the exchange. Market order: an instruction you give to your broker to immediately buy or sell a specific stock at the current price offered on the bid or the ask. You get an immediate fill on your order but the price could be subject to volatility and there is a small chance you may not get the entry price that was expected. Medium float stock: a stock with a medium-sized float of between 10 million and 500 million shares. Mega cap stock: a stock with a very large number of shares. For example, Apple Inc. has over 5 billion shares available for trading. Micro-cap stock: a stock with a low supply of shares available to trade at a relatively low price. The market capitalization of the micro-cap stock (also called small cap) ranges between $50 million and up to about $300 million. Mid-day: 11:00 AM to 2:00 PM ET. During this time the market trading volume often drops off a little and then picks up again into the close. Moving average/MA: this is a widely used trading indicator that is calculated by taking past closing stock prices for a certain period and then averaging them over that time. Two commonly used MAs are the simple moving average (SMA), and the exponential moving average (EMA), which gives more weight to more recent prices and therefore reacts more quickly to changes in sentiment. O Open (“the open”): the first one hour the stock market is open: 9:30 to 10:30 AM ET. Trading volume is often higher during this period. Options: a specific type of vehicle for trading. Options are a contract that gives a purchaser a right to buy or sell a security at a certain price by a specific date. They can be used in a number of different trading strategies and are considered to be a more sophisticated trading vehicle. Over-the-counter (OTC) market: the OTC is another venue or way to trade different securities such as less regulated stocks. P Paper trading: this is a technique that can be used by new traders to develop and test their skills before risking their money. You start with an imaginary account and go through the process of scanning and finding stocks for trading. You record the trades that you would take on paper with a plan for an exit (profit or loss). You then monitor the stock and record the profit or loss on the trade after one of your exit points are hit. Penny stock: the shares of companies that trade at lower prices. The share prices are typically under $1.00 per share. Position sizing: refers to how many shares you buy or sell per trade. Recall that you should not risk more than 2% of your account in any one trade. Pre-market trading: regular trading on the stock markets starts at 9:30 AM ET and ends at 4:00 PM ET. Some brokerages will allow traders to trade before the official open and after the close. This is called pre-market and after-market trading. During this period, liquidity is often lower and volatility is much higher. This is not a good time for swing traders to trade. Previous day’s close: this is the closing price of a stock on the previous day. If a stock closes on or near the high of the day, then it may be an indicator that the stock price will continue higher on the following day. Price action: a term that is used by traders to describe the movement in price of a stock. For example, if a stock price is dropping, price action is considered poor and likely a good short opportunity. Profit target: this is the expected exit price of a profitable trade opportunity identified by a swing trader. It is based on reviewing your charts and identifying the reward and risk in each trade. R Real-time market data: real-time market data allows you to see current bid and ask prices as well as last trade price and volume of shares. You need to ensure that you are using real-time data as some sources offer data that can be delayed 15 minutes or longer. Relative Strength Index/RSI: a technical indicator that compares the magnitude of recent gains and losses in the price of stocks over a period of time to measure the speed and change of price movement. Your scanner software or platform will automatically calculate the RSI for you. RSI values range from 0 to 100, with an extreme RSI below 20 or above 80 definitely catching my interest. Retail trader: individual traders who do not work for a brokerage firm or manage other people’s money. Risk management: this is one of the most important skills that a successful swing trader must master. This is done by only entering trades with a good reward to risk ratio, risking 2% or less of your capital on any trade and following your trading plan with stop-losses and targeted profit gains. Risk to reward ratio: this ratio is determined by assessing how much you expect to profit in a trade versus the most that you would be prepared to lose before exiting the position. Good trades offer at least 2 times the reward compared to the risk. For example, if you expect to make a $2.50 per share gain and are prepared to stop out if you lose more than $1.00 per share, then the reward is 2.5 times the risk and it is a good trade from a risk to reward perspective. Rotation: refers to a process where investors and traders move their money from one sector to another. One sector may fall out of favor with investors and they will move their money to another sector that they consider to have a better opportunity for a return on their investment. S Scaling out: a process you use to take advantage of a longer-term trend in a security. Instead of selling all of a profitable position at a target price, you will sell a portion of the position at the first target and hold the remainder for more gains. You should move the stop out price up to a level that is close to the first targeted sell price so gains are not given back. Scanner: software that you program with various criteria in order to find stocks that could be setting up for a profitable trade. Scanners are available on the Internet and are also supplied by some brokerage firms as part of their trading platform. Sector: a sector is considered to be a group of stocks that are all in the same business. For example, the financial sector refers to banks and other financial institutions, with companies such as Wells Fargo, Toronto-Dominion Bank and JPMorgan Chase in that sector. Short: an abbreviated form of “short selling”. It occurs when you borrow shares from your broker and sell them. You are expecting the price of the shares to drop and you are hoping to return the shares by buying them back at a lower price. If you say that you are short IBM, for example, it means you have borrowed and sold IBM shares and are hoping their price goes lower. Short interest: this is the number of shares in a stock that have been reported to be sold short by the brokers. Brokerages are required to report to the exchanges how many shares they have loaned out for short positions. A very high short interest (greater than 20%) is an indication that a lot of investors and traders hold a very negative sentiment toward a stock and the consensus is that the share price is going to go lower. It can also cause a “short squeeze”. Short selling: this occurs when you borrow shares from a broker and sell them with the expectation that the price will go lower and can be bought back at a lower price. You return the borrowed shares to your broker and keep the profit. Short selling restriction/SSR: a restriction placed on a stock when it is down 10% or more from the previous day’s closing price. Regulators at the exchanges place a restriction on short selling of a stock to prevent short sellers from continuing to drive the price down. The restriction only allows a short entry when the price of the stock is going higher. Short squeeze: occurs in a stock where there is a significant short interest. If some positive news comes out about the company, the price may move aggressively higher. Traders who are short get very worried and start buying shares to cover their positions. Combined with the investors and traders buying on the good news, this can create a frenzy of buying which will drive the stock price higher and higher. Short squeezes are bad to be caught in and good to ride higher. Simple moving average/SMA: a form of moving average that is calculated by adding up the closing price of a stock for a number of time periods and then dividing that figure by the number of time periods. As the time period moves forward, the oldest price is dropped and the newest period price is entered to calculate a new value. Simulator: some brokerages offer simulator accounts that start with a set amount of “fictitious funds” or “imaginary money”. You can use the simulator to trade with the imaginary money, allowing you to develop your skills and build experience in trading. This is similar to “paper trading”. Size: the bid-ask information on a stock order page will also likely display the “size” or number of shares being bid for (wanting to buy) and the number of shares being offered for sale. This will change often throughout the trading day on an actively traded stock. Spinning top: a type of candlestick that has similarly sized high wicks and low wicks that are usually larger than the body. They can be called indecision candlesticks and they indicate that the buyers and sellers have equal power and are fighting between themselves. It’s important to recognize a spinning top because it may very well indicate a pending price change. Split adjusted: after a stock split the price will drop in relation to how many new shares were given to current shareholders. A stock may be split more than once if it keeps going higher over time and, with each split, the price will drop. A split-adjusted price is the price a stock would have been before the split or splits. Standard lot: a standard trading size is 100 shares. The “size” column on the stock order page will indicate how many standard lots of shares are being offered for sale or purchase. For example, a bid size of “4” means there are buyers waiting at the bid to purchase 400 shares at the bid price. Stock in play: stocks in play are shares of a company that are being actively traded by traders and investors. They are characterized by higher than normal trading volumes in the shares being traded and by more price movement than previously experienced. Stock split: on occasion a company will want their share price lower to allow more potential investors to buy and own their stock. For example, a stock that trades at $300.00 per share may be too expensive for many investors to own. To address this issue, a company will split the stock so all of the existing shareholders own more shares. In order to do this, they could perhaps offer another share for every one a shareholder currently owns. With twice as many shares in the market, for the value of the company to remain the same the stock price will drop by half. In our example, the share price would drop to $150.00. Stock ticker: short abbreviations of usually 1 to 5 letters that represent the stock at the exchange. All stocks have ticker symbols. Apple Inc.’s ticker, for example, is AAPL. Stop-loss: prior to entering a stock position, you must determine what is the maximum you are prepared to lose on a trade. This level could be based on an indicator or pattern. You enter a position hoping for a profitable trade but if this does not occur then the stop-loss is used as an exit point to protect your capital from greater losses. Support or resistance level: these are areas in a chart where share prices often reverse or pause. There can be areas where resistance to further price increases occur and there are areas where the downward price pressure ends and the share price pauses or moves higher. These areas often repeat, as if the share price has a memory. Swing trading: the serious business of trading stocks that you hold for a period of time, generally from 1 day to a few weeks. Swing trading is a completely different business than day trading is. T Technical analysis: this is an analysis method that is used to forecast the future direction of prices by studying past market data. The data used is primarily price and volume. Trade management: this is what you will do once you enter a trade. You will monitor your position and be prepared to take a profit or get stopped out and take a loss. Trade plan/trading plan: the plan you develop before entering a trade. The plan includes determining an entry price and an exit strategy with a profit target price and stop-loss price. The plan concludes by closing the position and then recording and reviewing the result. Trading platform: this is the software that you use for sending orders to the exchange. All brokers will offer a trading platform. Trailing stop: this is a technique used to stay in a position as it continues to move in your favor. As the trend continues, you move your stop price to trail the move so that when the trend does finally change, you capture most of the profit in the trend. V Volume: the number of shares that are traded during a period of time. The period could be daily, weekly, monthly, etc., or the current volume during the trading day. W Warrant: a right to purchase shares in a company at a specific price. Warrants have an expiry date so they can expire worthless if the actual share price does not move above the purchase price on the warrant. Watchlist: you may build a list of stocks that you are interested in taking a position in. You may very well not be ready to enter at the time the stock first catches your interest and, instead, you are waiting for a confirming event like a bounce off of a double bottom. In this case, you build and maintain a watchlist of potential future trades. The brokerage may also offer an alert feature on their platform so you will be advised when the confirming event occurs.
  49. 1 point
    I opened an account with IB Canada (separate entity), and here is what I have been doing to trade US stocks: 1. Funded account in Canadian dollars (CAD) 2. Set base currency to USD in Account Management (only for display and reporting purposes) 3. Converted a small amount of CAD to USD to cover initial losses. This video tutorial was very helpful 4. Each day, my Buying Power in IB/DAS is converted from CAD to equivalent USD 5. I day trade only US stocks and close out all positions at end of day 6. I stay well below my BP--again, calculated in USD in DAS 7. Profits and losses are settled in USD automatically 8. Commissions are deducted from USD balance 9. USD balance increases/declines with profit/loss at the end of each day Note that the majority of my equity used for buying power and margin is still in CAD (+90%). When I am profitable, I plan on converting the USD gains to CAD on a monthly--maybe even weekly--basis. This way I am not exposed to long-term currency risk. Not sure if any of the above is helpful at all, but I've documented it here for future reference. Best of luck!
  50. 1 point
    Sean, I had the same exact issues you are listing above when I tried to use my MacBook Pro with Parallels. It works great for all other windows software but it just does not play nice when using Das Trader Pro with multiple screen and multiple Montages. When I was using just one screen (the laptop screen) it was more stable. Once I added other screens it just didn't perform well. The default template would sometimes not stay on the multiple screens so I would have to set it up to fit correctly. In rare occasions the software would freeze or not respond. Once this happened several times when I was on the simulator, I called it quits. I did not want to go live with a system that was not stable. My suggestion is to invest in either a PC or a laptop. PC are cheaper and give you more bang for your buck, easier to set up multiple monitors and easier upgrade in the future. I took some of my capital I had saved up for trading and invested in a good PC system. Hope you find a good stable system! One less thing to worry about when you are 100% focus on trading. Carlos M.
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