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Showing content with the highest reputation since 05/20/2019 in all areas

  1. 17 points
    I read "How to Day Trade for a Living" over a year and a half ago, I join the chatroom while I was still reading the book. The chatroom has been an invaluable resource for learning not only good trading habits, but the psychology of trading as well. After a year of trading my husband joined me and now we trade together everyday. Thanks to the BBT community!! Michelle and Nathan
  2. 11 points
    Converted a typical closet into a trade station. I added a 'peel n stick' wood wall paneling and installed a 3 pot-light lamp above with dimmer switch.
  3. 9 points
  4. 9 points
    My elaborate setup with my new favorite movie .. based on a true story. No that's not my real setup, I use three watches. But seriously, I can't share my setup (currently building a new desk), so I thought I'd have some fun with this. I'll show myself out.
  5. 8 points
    Traders from Venus: Loses are fact with no escape. One said " When you know what not to do in order to not to lose money then you will begin what to do in order to win" so trade smart with no fear! Money will follow you Above is my laptop work desk converted into trade station. Had it setup this week! Went with basics what was recommended in the BBT community site which is good enough to get the job done:)
  6. 8 points
    Two computers with eight monitors. My primary unit has six monitors and the laptop has two screens. I usually watch 8 stocks that are in play and six secondary possible continuation stocks on the overhead 2K 37" screen. I have three montages. One screen for watching the $SPY, market clock, and network connectivity to DAS. The outermost right Dell monitor is for the chat room. The laptop is my hot backup with CNBC and other news feeds. I have a Bluetooth headset and a wireless mouse. I custom built this workstation. It is basically a gaming machine. Here are the hardware spec: Intel i-7 6700K @ 4.00Ghz 64 GB of DDR4 3200 RAM 500 GB SSD NVIDIA GTX 970 with two additional USB to VGA ASUS Maximus VIII Hero ATX motherboard Intel 10/100 NIC TV stand:: Amazon ASIN: B07581Z9SM Two monitor stand:: Amazon ASIN: B07MC9YX63 I believe Andrew Aziz is a very rare person because at his core he is a teacher first, daytrader second. He is passionate about changing people's lives for those who would apply his knowledge and instructions. He is the second person I have met in person that operates his business at an incredible level of integrity. The other person with strong integrity is Dave Ramsey. Every morning, when Andrew is not summiting a mountain, he shares transparently over 15 years of knowledge only gained from an unforgiving market that does not hesitate to trap money from an unsuspecting new trader. I have watched for over two years, an excess of 500 videos of Andrew and his team's trade recaps. Andrew and his team's success is that they trade the same set of strategies that are described clearly in his book. You can be suspicious of a strategy if only one person is successful at it. You could still be suspicious of his team that trades the same strategy. If you want, you still can be suspicious when members are successful using Andrew's strategy. However, when you combine the number of trades taken by all the traders over time, the evidence is demonstrating counter to your belief. Bruce Lee said, "I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times."
  7. 7 points
  8. 7 points
  9. 6 points
    If you are consistently red, it makes no sense to be live. Don't think of it like you are missing out on good trades; you are saving yourself from further losses. My tips based on your journal: 1. Don't focus so much on the 1-min chart. It takes many years of experience to play price action. Beginners should stick to patterns and setups off the 5-minute chart. 2. Try using the 2-min as your smaller timeframe. Here's an example of where the ABCD was much more clear. 3. Overtrading and impulse trades. Read "The Daily Trading Coach" by Dr. Brett Steenbarger to kick bad habits. 4. Trading pre-market involves low liquidity, bad spreads, and unexpected moves. Stay away unless you have a working strategy. 5. Setups and patterns: define them in your playbook. Know what you are looking for everyday. This will help with the impulse trades. If it doesn't meet your setup: don't take the trade. 6. Prove you can trade consistently in simulator before going back live. Good luck.
  10. 6 points
  11. 6 points
    Risk and uncertainty is part of trading the markets; however, I am certain that deciding to become a Bear Bull Traders Lifetime Member was the smartest investment I've ever made. As a new or inconsistent trader, joining the Bear Bull Traders community will too be the best investment you make for your trading career.
  12. 5 points
    Updated: 11/19/2018 @ 8:20am (PST) Finally out of the alpha stage and releasing this to the community, I've been using it with success. Because I had to do some musical chairs with memory I made a configuration utility as the script itself is very ugly. This is more of a BETA release for this, so if anyone wants to try this out in SIM and let me know if you have any issues with the configuration sheet or the hotkeys themselves. It's based on the work started by @fjmocke here: https://forums.bearbulltraders.com/topic/469-das-calculate-shares-based-on-account-risk/ . What it is: It's a hotkey command script that can be used to dynamically alter the share total based on: Available Buying Power (capital) Stop Location (Risk) % Account Risk OR Fixed Dollar Amount The script includes purchase power protection and won't send an order that you can not afford, it does this by calculating two factors: A - Shares You Can Afford B - Shares at Risk Parameter (e.g. $25,000 account equity, 1% risk = $250 risk, $250 * a stop distance of .10 = 2500 shares) min{A,B} = 0.5(A + B - | A - B | ) But, why male models? I just told you. /Zoolander reference You'd use this to calculate your share total based on what you're willing to risk. So instead of blindly throwing 500 shares at every setup, you can dynamically alter risked amount based on the per-trade setup. I use it on my StreamDeck (will also release the icon packs soon) with modifiers of 100%, 75%, 50%, and 25%. 100% is the A-Plus setups I see, those I have HIGH confidence in. Alternatively, if a stock has a large spread or is low-float, I may only use the 25% modifier key for those. Instructions for Configuration: Go to this link: BETA: v1.46 https://drive.google.com/file/d/1p1J5sFOXjEE1B9HOkaxtfc3cXSO2fnrV ^^ Requires DAS version 5.2.0.34 or above (current BETA branch as of 11/19/2018) for the physical stop portion to work. If you don't use the physical stop, you don't have to worry about it. v1.2 https://drive.google.com/open?id=1v45q-BJ86oaD3cXi0DAPeLraE2AojQ80 NOTE: Version marked as BETA should be thoroughly tested in SIM to make sure it's doing what you expect it to do. Choose: Either "Download" [Excel Users] or "Add to My Drive" [Sheets Users] On "Setup & Instructions" configure your settings. Account Leverage (default for DAS is 4), this is the margin your broker gives you. Some off-shores give 6. It needs to match what is configured in DAS for proper calculations. Max Account Risk %. This is the maximum percent of equity you're willing to risk on every trade (default is 1%). You can always risk lower (more on that later). % of Total Buying Power. If you don't want to calculate based on the total buying power of 100%, you can set this to a lower percentage (example: 100,000 buying power with 60% here equals $60,000 maximum position size) Route. LIMIT, MARKET, SMRTL. Default is LIMIT. Order Bid/Ask Offset. This is the offset you use when you send the price for order, e.g. "Ask + 0.05" (meaning fill me up to 5 cents above ask) Time in Force. Default: Day+ Default Shares. This is the amount of shares you want to set as the DEFAULT SHARES for all trades (e.g. when you click a Symbol and it loads, this is the share total). You can see why this is here in the technical breakdown section below. Minimum Stop Buffer. This is an offset to the stop distance. If you set this to 0.05, it'll add 5 cents to the stop distance calculation (so if your stop distance is 0.05, it'll be calculated on 0.10). Switch to the "Hotkeys" tab. Choose your preferred style. % Risk of Equity (Dynamic) or Fixed Price (e.g. $150 risk). %Equity Risk: Use the drop down to select what you want the value to be % equity. NOTE: This is a modifier AFTER your account risk maximum %. So if you have 1% account risk, and set this to 50%, your effective account risk is 0.005 --> 0.5%. $ Fixed: Use the drop down to select what you want the value to be for dollar risk. Select "long" or "short" to flip the script's direction. Click the cell that contains the start of the command (E column) and Ctrl + C (copy). Paste it into DAS. It should look like a sample command below. Instructions for Usage: First, you must have "Double Click to Trade" turned on in Chart, Right-Click --> Configure --> Settings --> Double-click to trade. Double click the chart where you want to set a mental stop (it does not place a stop order, you can always put one in after). Hit your configured hotkey. Sample Scripts: LONG: DefShare=BP*0.98; Share=DefShare*0.25* Price * 0.01; Price = Ask - Price + 0.02;SShare = Share / Price; Share = DefShare - SShare; DefShare = DefShare + SShare; SShare = Share; SShare = DefShare - SShare; Share = 0.5 * SShare; TogSShare; ROUTE =LIMIT; Price = Ask + 0.05; TIF=DAY+; BUY=Send; DefShare = 500; SHORT: DefShare=BP*0.98; Share=DefShare*0.25* Price * 0.01; Price = Price - Bid + 0.02;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 = 500; Technical Breakdown: DAS has basic scripting. Montage commands have access to very few read/write variables, basic operations, and only operators of addition, subtraction, division, and multiplication. To do this calculation we need additional operators (min function, and absolute function) and more memory for storage of variables. This command gets around these limitations by using user-writeable areas of memory in the program. Since DAS is written in the C++ language (from what I can tell), it's strict on what can be done in these existing memory locations. The hotkey uses the following items (plus the usual Price -- FLOAT): (Assumptions on Datatypes) DefShare -- INT (Used as a temporary variable for storage) SShare -- Unsigned INT (Behaves like an Unsigned INT in certain situations. Used as a temporary variable for storage) Share -- INT (Used as a temporary variable for storage) With the 3 INT variables, objects are moved around in memory so that we can calculate and compare with our variable limitation (be much easier if we could assign our own). To facilitate the ABS() function, we use a trick --> When a negative value is placed into an Unsigned INT it loses it's sign (thus, it becomes a POSITIVE value in memory). A more detailed technical breakdown (step by step) is located in the Configuration spreadsheet up above. Future Enhancements: If need be, I can make a step-by-step video of this entire process. I have a version that uses an AutoHotKey macro to drop a line at the stop location, I can upload that as well if people want it. ^^ Update, I discontinued this as it was too cumbersome. You had to have two sets of hotkeys for each command. I may someday revisit it if I can build out a configuration tool for it. TLDR: It does the math for you so you can risk a known amount (% or $) based on your per-trade risk position (stop distance). And yes, I'm a bit of a tech nerd. Also, longest post .. ever. Would not read again, 0/5 stars. --- KNOWN ISSUES: %Account Risk gets smaller and smaller when subsequent open positions Reason: No Equity variable, we reverse calculate equity using Buying Power. On subsequent positions, the % (e.g. 1%) calculation will be based on the available buying power and NOT the account equity. Workaround: Precalculate the %risk and use it for the $risk versions. So 1% of $25,000 equity equals $250. SSR rejection on LONG position when scaling out; rejection message (e.g. "Short marketable limit order disable due to SSR!") if using the automatic STOP trigger. Reason: DAS calculates that the position will drop below the open stop order position and reject as this can cause the position to "flip" if it was triggered. Workaround: Have a hotkey to clear the open orders (CXL ALLSYMB), clear it, scale the position (e.g. 25%). Either replace the stop or switch to a mental stop. Alternatively, you can add "CXL ALLSYMB;" to the front of the scale-out hotkeys. You just have to be cognizant to replace the stop order. Equated position size if very small (e.g. 4 or 5 shares when expected is hundreds). Reason: Wrong side was used for the order. E.g. a long hotkey is used when trying to go short. -or- Stop Distance was calculated to be a negative value (clicked too close to current price). Workaround: Be cognizant of the hotkeys used and the stop distance clicked. Clicking too close (a really tight stop) can be very dangerous if you do it inadvertently. TriggerOrder for automatic STOP placement not being sent (no stop order placed). Reason: Montage is not set to a style that doesn't allow TriggerOrder input. Styles not compatible are: Default [DAS's, if you changed it], Basic, OCO, Option, Full Fix: Use a style that is compatible, they are: Stop Order, Detail, Trigger -- I recommended using the "Stop Order" montage style. To change this, right click the montage area around where you'd enter a price and select Style --> Your Choice. --- UPDATES: 10/17/2018 - Added v.1.1 link, you'd need to use the new version to change anything. - General cleanup of the script. Added instructions for the IB issue (discussed in this thread) - NEW FEATURE: Added a new section to the Hotkeys sheet, it will now create a set up for Dynamic Scale-In hotkey commands. You'd use these by setting a scale value (say you want an additional 50% of your current position size). The hotkey will calculate the maximum share you can afford (how much you can afford at the moment) and the scale value, choosing to take the least amount. So if your current position is 1500 shares (@ $50.00) and you want to scale in at 50% your current position, it'd check if you can afford an additional 750 shares, if you can't, it'll buy the maximum you can afford. For this example, you can't afford it (if Buying Power is 100k), so it'd buy roughly $25k worth (500 shares). - CLEANUP: Cleaned up the $Dollar Risk version and removed unnecessary steps. Don't really need to replace yours if they exist, but worth noting. 10/30/2018 - Added @Michael P's suggested fixes for Excel. Configuration tool should now work in both Sheets and Excel. - NOTICE: This was a configuration tool change, no changes were made to the hotkey scripts, so no need to change any existing hotkeys. 11/19/2018 - Shortened some of the commands so we don't hit any hotkey character limit, makes them less readable, but shorter. Couldn't get them low enough to fit the montage buttons though (although removing the portions for the buying power rejection protection would likely do it). - Added a section for SELL/COVER buttons for people who just need to create those. E.g. "Sell 25% position" or "Sell 33% position". - Added @Robert H's stop suggestion. New fields on the setup page for enabling physical stops. If enabled, it'll place a MARKET or LIMIT (settings included) trigger order to go into the market once the initial order is fulfilled, these are placed at the location you double-clicked on the chart. 11/20/2018 - Added a stop-order setting to set an additional buffer for the stop price (for those that want to include or exclude the double-clicked price). - Added conditional formatting to subdue the stop settings that aren't required if you disable sending a physical stop into the market. 12/10/2018 - Added a known issues section to this post and the spreadsheet (for when a new version goes up). 12/12/2018 - Updated known issues section to include the "Montage Style" issue for TriggerOrders. 12/13/2018 - Updated to new version 1.46. Fixed a bug in the Trigger Order script which could cause it to not be interpreted by DAS's command parser on certain user settings. - Added "modifier" extra hotkeys. See instructions next to these on how to use them. - - - Set Stop to Breakeven - Long or Short - Stop Limit or Stop Market (cancels any pending orders for SYMB) - - - Set Stop to Breakeven - Bidirectional - Stop Market (cancels any pending orders for SYMB) - - - Stop - Update Price - Long or Short - Stop Limit or Stop Market (cancels pending orders, double click chart where you want stop before firing hotkey) - - - Stop - Update Price - Bidirectional - Stop Market (cancels pending orders, double click chart where you want stop before firing hotkey) - - - Stop - Update Position - Long or Short - Stop Limit or Stop Market - Replace (requires you double-click the original stop in the Orders window) - - - Stop - Update Position - Bidirectional - Stop Market Orders Only - Replace (requires you double-click the original stop in the Orders window).
  13. 5 points
    20.Mai.19 Green day, after 3 consecutive red days. I didn't trade on the 17.Mai, it was a No trading day, after 3 consecutive red days. Not my Rule, but just wanted to take a break. On the 20th May I had the following on Watchlist. $MU, $TWTR, $S, $PINS AND $OTLK (which I traded in SIM on 17.Mai). But I traded $PDD, after it came up in the TI scanners. Shooting star on the 15 min and I took short below VWAP. As always, I tried to put in 2 Range orders and move out. But a mistake happened, may be I typed the price wrong, and 300 shares got closed immediately for a small loss. I closed the remaining 200 shares after a small move (after a new HH on 5 min). I think I just wanted a Green day today to change the trend Entry- $20.65, Stoploss - $20.75 (above VWAP) Profit1 - $20.4 (RR - 2;1), Profit 2 - $20.2 (RR - 4;1), Size - 500 shares, Good: Very good A+ Setup. The price also reached my intended final target ($20.2), so reading price action was good. Didn't panic after first mistake on Range order. Improvement: It was a great setup, that I messed it up due to my error. I would not have profited early, if not for my first mistake and a small loss. P.S: Ignore the first trade, that can be seen on 15 and 30 mins. This was a reversal I took on SIM, after $20 support wall (which was also great setup) and worked well for me.
  14. 5 points
    I feel a little uneasy giving advice since I am struggling so much on my own. Plus, I am sure Mark can explain things better than me. But what I thought I would do is list the changes I made that helped me and maybe you can find something useful in the list. My first 3 months of live trading I had 6 hulk days and 16 max/loss days. Since I made these changes 3.6 months ago I have had zero hulk days and zero max/loss days. 1) Switched brokers to CMEG so I could reduce my account size so blowing it up is not as much of an impact. 2) Added risk controls from CMEG/DAS. Realized max so it would prevent me from going hulk and unrealized in case I lose internet in the middle of a trade. 3) Made a simple goal for 3 months. Don’t go hulk. I could trade terribly but as long as I never went hulk I reached my goal. 4) Started with 1 trade per day max. I tried the 3/day rule during my first three unsuccessful months, but I kept breaking it. 1 trade a day is very much an on/off switch with very little gray area. It was REALLY painful and FOMO was high, but after a week it got easier. The satisfaction of having enough discipline to stop at 1 trade was enough to be proud of myself. After about one month I switched to two trades a day allowed if the first trade was a winner. If the first trade was a loser, I am done for the day. I use to trade terribly after a loser. 5) Remove the unrealized gain window. This was tough, but surprisingly after a week I got use to it. So that worked for me. Hopefully that helped.
  15. 5 points
    Just started to day trade in January this year. Got to say, Andrew’s books are like a torch that clarifies the world of daytrading for me. Along with all the videos made by members and contributors of BBT. Thank you so much for being so open about sharing your knowledge! God bless! Here is my VERY humble trade station. There isn’t enough time to juggle a day job, trading and workout when US market opens at 830pm local time. Hopefully the only thing I’ll be losing is the extra pounds.
  16. 5 points
    I've been a member of Bearbulltraders since October 2018. I read Andrews first and second books in September along with a few other ones and I am really glad I did, his books are well written and well thought out and really gives you the tools and basics and most importantly rules and setups. I then wanted to join the community and see what real trading was like, I didn't even have a platform or setup yet, it took me about a week to realize this was not fake or a money making scheme. I then knew it was going to be something for the long haul and so it made sense to get the lifetime membership and so I did and I have not regretted it since. This is definitely not a get rich quick type of deal, it takes hard work day in and day out, but the people in this community are there to help and make it easier and they have! There is so many people I want to thank from Norm, William H, Robert H, Carlos, Brian, Abiel, I'm sure I'm forgetting people and of course Andrew who of course without him, none of this would be possible. Thank you guys so much! -Seth Aldrich
  17. 5 points
    Joined BBT community in September 2017 after day trading 9 months on my own. Wish I had found Andrew’s book and the community earlier, but since then the knowledge gained and support of BBT has been amazing!
  18. 5 points
    Family that trade together stays together. First day trade for the pups. Whatever it takes start 'em young.
  19. 5 points
    This is my humble set up as of now. Currently trading on Simulator. Very grateful to have come across Andrew's Book and the BBT Community. I am a lifetime member, so it'll be my pleasure working with you all during this lifetime! Andrew's book is important but so is that Coffee Maker!
  20. 5 points
    Forget about the goal, work on your process and results will come. My setup, kinda improvisation desk, still just 1 extra monitor. My seat is a second hand embody chair, I like that one
  21. 5 points
    I had been interested in day trading for a number of years, but never knew how exactly to start. That all changed when a friend recommended Andrew's first book. It gave me a solid roadmap and understanding of what it means to day trade, and also introduced me to the amazing BBT community. I feel like Andrew is in a league of his own in terms of his authenticity, transparency, and honesty in an industry full of self proclaimed "gurus." I have been slowly learning in the simulator for about a year while of course watching Andrew trade every morning, and I couldn't imagine a better way to learn. I'm excited for where my day trading journey takes me. Thanks Andrew!
  22. 4 points
    May 21, 2019 - $AMD (Partial) I took 1 live trade on $AMD a couple minutes before the 15 minute candle closed, but I saw the pullback towards VWAP, rejection of VWAP, and a break of the previous 1 minute. Along with this the moving averages were above on both the 1 and 5 minute charts, so I entered. I got a partial and was looking for it to go to the 200 moving average on the 15 minute for a second partial and let it run to the profit target, but it pullback and I got stopped out at the breakeven. Unfortunately, I could not trade longer than the first 30 minutes due to work, but looking at the price action this evening, that is probably a good thing. Sample Set Results S P P P P S P P 9 10 11 12 13 14 15 16 17 18 19 20
  23. 4 points
    Tuesday 5/21/2019 I had a well-being score of 7/10 this morning. My nerves a little bit negative, already feeling the AAPL FOMO since the plan was not to trade AAPL at the open until more favorable data is collected. But seeing Andrew’s T-shirt got me in a better mood and eager to trade. I took two live trades, one with FB and one with MU. The plan, based on back-testing, was not to trade AAPL and have FB as my primary focus. FB quickly got the minimum trading volume for its setups (>300k in under 1 minute is the minimum for FB). FB had a OK setup bouncing off the 184.25 support level. I didn’t want to go long at the VWAP since the PM high and the $185 level was just above it. So I was waiting for the break of those levels, but thinking it would be above the Boulinger bands and extended at that point. So I was a bit on the fence on this setup. Then a large ask appeared on L2 and went long. Actually the stock moved so fast I had a 15c slippage and not a great fill. What it looked like when I took the trade: 1min 5min FB moved higher quickly and I got 3 partials in the next minute, each time when the price stalled a bit. Then volume really dried up and I exited on weakness. My next trade was with MU. I was waiting for the 5min candle to finish, but then I saw a really strong bounce from the 9MA and punched through VWAP. I did see that AMD was continuing its slide so I made it a tight stop but I still went long. Price reversed and I got out as fast as I could, but it was dropping fast so had a bit of slippage. I probably shouldn’t have taken the trade since MU may follow AMD. Even though setup no longer looked like a flag I took the trade since it bounced so strongly. I was wrong. At least the 1min ORB on FB paid for my learning on MU. My score card for today: What I did good today: I like I was able to utilize L2 for the entry on FB. How did I challenge myself today? Traded a new stock at the open. Controlled the FOMO on AAPL. What I did bad today: MU was too weak to go long, more than half of the bull flag pole was already lost. AMD was falling and I ignored that signal. Plus I should only trade the bull flag/ABCD. What can I do better tomorrow: Keep learning the 5min ORB.
  24. 4 points
    This is an amazing setup!!! Love it! Nice touch with the clocks up top, I also have that same Classic Chart Patterns! Now, who is the better trader?? Just kidding Best of luck to you both!
  25. 4 points
    Hi Andrew, I am really benefiting from the community you and your team have established. I like the morning chat room and the educational videos. Keep up the excellent work. -Devin
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