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Showing content with the highest reputation since 09/25/2020 in all areas

  1. 3 points
    Dear BBT community, My contribution to BBT has been minimal, so I thought I would share my experience which I thought might be helpful to others. I have a maximum loss risk control in place to prevent me from overtrading, but on Friday it saved me from a situation which I had never considered. I presume it may have emptied my account if there was not some form of risk control in place. I am still trading very small and my risk controls are very tight so the numbers concerned were very small, but it made me aware of a situation which could arise at any time in the future. I was in a LONG position of Friday, when I hit my hotkey to exit 25% of my position, this initiated what I can only assume was a keyboard malfunction ( sticky hotkey?) which continued to short 25% of my position. Within 2 seconds (and 58 tickets later) my system has shorted me out of my position and into a new an ever increasing (25% per ticket) SHORT position. My spread costs eventually reached my max loss for the day which automatically initiated the closure of my position and got me out with a loss off 4 X my max loss for the day. As I said above getting into the position took 2 seconds, which then activated the automatic closure of the position which took another 5 seconds to complete. I only became aware of what had happened when it was all over. My point is that even for those who feel that they have their emotions under control and feel that they may not need a risk controls, these controls can cover you in the event of a power failure or loss of internet or in this case a hardware malfunction. Without that or some sort of risk control in place I can only imagine how that scenario would have ended. I am eternally grateful for all the knowledge and experience that is shared in this community that has helped me on my journey. I can only hope that sharing this experience may help someone out there in future.
  2. 2 points
    Hi everyone! My name is Jeremy Olson. I live in Phoenix, AZ. My wife and I have 6 beautiful kids and we love spending time as a family. The kids are great (when they are getting along haha!). I am a CPA and tax director at a large publicly held trucking company. I started out my career as a CPA at Ernst & Young in Roseville, CA back in 2006 after graduating from Arizona State University's Masters of Taxation program. I was introduced to stock trading back around Sept 2019 by a co-worker that swing trades on Robinhood. I downloaded the app and got hooked. The potential to make money in the markets fascinated me but I knew that I had (have!) a lot to learn, so I Googled "best books day trading stock" (or something like that) and found Andrew's book. Then I graduated from RH to DAS and IB. It's been quite a journey so far. I basically tried going it alone for several months. I mean, I read a lot of books and had help in that sense, but I was not in the chat room or trading with anyone else. I had some success, but really more failure than success. But somehow I managed not to blow up my account, which is a good thing! So, I am still in the game, but I have been humbled by the market and I am going back to the basics. I am going to start over and do it right this time. I just finished "Class 1: How to Trade in Simulator and Introduction to DAS" last night. I am going to go through all the classes one by one, skipping nothing. My experience so far in trading reminds me of a similar experience I had in learning to play piano. As a kid, I always loved music and would play my parents old out of tune piano in our house off and on and taught myself how to play a few songs. They were challenging songs. I didn't start simple. I just went straight for the hard songs because that is what I wanted to play. I didn't want to do the boring stuff, I just wanted to play the cool songs right away. So it was challenging, but I pushed through and got to where I could play a couple moderately challenging songs. By the time I was about 38 years old, I never really learned to read piano music very well at all so I could not sight read anything. But I could, through painstaking difficulty memorize songs note by note and learn them that way. I had about 3 or 4 moderately difficult songs that I could play on the piano (or, at least thought I could play lol!), but that was all. Then I met a guy at a church activity that is a professional pianist/performer, the guy is phenomenal, truly a creative genius. His name is William Joseph. (I included a link below to one of my favorite songs he plays on the piano so you can see what I mean.) We became friends and he agreed to give me piano lessons (I had never taken lessons prior to this, well, I think I had 4 or 5 lessons as a little kid, but never stuck with it - I was almost 100% self-taught). At the start of my first lesson, William asked me what level I felt I was at as a piano player. I told him I felt like I was not a novice, but not advanced either, somewhere in between. Then he asked me to play something for him. He was kind to me and said that was pretty good, but I think he was lying because after that he started me on my first song, "Twinkle Twinkle Little Star" lol! For reals, not an embellished version or anything, just the simple one note version, the melody only, no chords, nothing, just the melody. He wanted to take me back to the basics because everything I had taught myself to do up to that point was basically wrong, incorrect technique. I might have been hitting some of the right notes, but I was way too tense, and my fingering was all wrong, etc... He had me simply hold my hand above the keys and let it fall down on the notes and do that repetitively until I gained the muscle memory of being able to play the piano in a more relaxed way. He explained that I would never be able to progress or play very fast if I did not fix my technique and learn to loosen up. So, I had to go all the way back to Twinkle Twinkle Little Star to unlearn my bad habits and relearn new ones. I had to learn all the muscle memory the correct way, so I then had a foundation to build upon. I am now still not to the level of a concert pianist and probably never will be, but playing the piano is so much more enjoyable. Now when I play, I feel like I can make real music, not just plunk out notes. Anybody can learn to hit certain notes at certain times, but not everyone learns how to truly make music and make it come alive I relate this to learning day trading. I do not want to learn bad habits, so I am going back to the basics now and even though I feel like I know some things, I am going to be totally open and humble as I go through each one of the BBT lessons and all the webinars. I am going to keep a journal and make my playbook, etc...do everything the right way taking no short cuts. Let's see how far that will take me! There is something very familiar to me watching Andrew trade the open in the mornings. It reminds in a lot of ways of watching William play the piano, true genious at work. There is something intangible that they both have that is hard to define, but you know it when you see it. It's inspiring. Here is a link to William playing the piano so you can see for yourself how amazing he is! Here is me at my trading desk (The laptop on the far right is my work computer - been working at home since the start of Covid-19. The top right monitor is also shared with my work computer and my trading desktop computer. There is an HDMI switch, so I just hit the button on the switch and the top right monitor switches between being connected to my work computer or my desktop computer. There is also a switch to trade my keyboard and mouse between work and desktop computers, so I have just one keyboard and mouse to use for both):
  3. 2 points
    An update...so I chatted with DAS support last week and they told me that this is for a beta test group right now, but we can request this starting October 15th. The support person told me there will likely be an extra fee in case you want to keep both your current broker set up and the TD Ameritrade. He/she didn't know what the charge will be. Lastly, they if I want to use both IB and TDA at the same time in DAS, I would open to different versions of the platform. My current one and one created for TDA. This is what I found last week, but I guess anything can change when they actually launch this.
  4. 2 points
    Not required, unless u have funds to burn. Utilize BBT scanners and DAS scanners. Once u have mastered trading and want to refine ur stock selection process then u can invest in T.I. scanners. That will be in abt 12 mths, I estimate. Between DAS and BBT scanners u should be good in short to medium term.
  5. 2 points
    I have been using TradeStation for the past year and went to their Masterclasses in Plantation. I used Andrew's book to earn 45% in six weeks and then lost 75% in one month due to the market turning and revenge trading. Since that time I signed up lifetime for BBT and have learned the exact issues that I had. Now I have about twenty years of experience in the market studying Fundamentals, Modern Portfolio Theory, CFP and more, so adding AAs system was a no brainer. However the psychology aspect which is what took me the longest only had one oversight. When I traded during the six weeks I was still working, so I had strict rules. Once I retired I broke all of them. Namely: I sat in front of the console for too many hours. My position discipline wavered. I broke all of the rules and revenge traded. I started to mix styles: Options plus Day Trading without a transition strategy. I have since stopped trading and instituted strict controls around my day: Clear hours just like before. Solid exits and limitations. I now know how to read when the market turns - I have been a business cycle swing trader before so this confused me. Position and R:r risk reward ratios that match. Some examples: risk: Reward, r:R : 1:2 Win:Loss 3:2 Daily max loss: 1% of Total Account Daily risk per trade: 1% Max Security Limits (I had one issue per day during the six week period. I upped it to two near the end. Once above that I started charts and darts!) Simple ranges for quick math: $100 issues: Size: 50, 100, 250 $50 issues: Size 100, 200, 500 $25 issues: Size 200, 400, 1000 All of these limitations promise to return my previous profitability with slow consistent gains. SUMMARY: Restrict the amount of time you trade. Restrict the size of positions, the r:R. Max Daily Loss, Trade Loss NEVER revenge trade. NEVER trade when market direction is unclear.
  6. 2 points
    I cannot watch Success webinars live because of the time shift, but after the recent "re-arrangement" of the video-library, I have not find the recording of this seminar in the member's section. Can you please tell me, where can I find the latest Mark Randall's Success Webinar? Thanks.
  7. 2 points
    I posted a detailed walk through of how the hotkeys work a few months back. You might find it interesting. I was working with v2.1 of kyle's spreadsheet back then. I don't know what version it is on now.
  8. 2 points
    No weekly review this week, I made a playbook update Wednesday and that felt sufficient. I was thinking about making videos on some concepts like price pivots, support and resistance, trends + congestion zones, ect... but I think I'll make those during the week when I see good examples in price action. Going to dig through Anna's book this morning then call it a weekend.
  9. 1 point
    Hey everyone! I thought it'd be fun to make a video a day about 1 or 2 trades I take (or don't take) that I feel have a lot of substance, this is less a journal and more a challenge for myself to articulate my thought process and to solidify concepts I'm still working through. Just a little backstory on myself...At the time of writing this post I am 6 months in to trading sim, I'm 30 years old, I'm an Air Force veteran, and currently a student at UC Berkeley! I read Andrews book once about a year and a half ago, and again about 7 months ago and decided to give trading a go! It's been really fun and also very challenging! Okay ... lets go! June 3rd 2020 $MGM - Hidden Orders / Over Extension June 4th 2020 $AAL - 2 min orb, stop placement, ascending triangle, extension, sick ABCD!!
  10. 1 point
    Please use this thread to post your questions before and after the Success Webinar! Pierce And Fail: Why Lack Of Conviction Leads To Reversals Ever notice how strong reversals tend to happen in a similar pattern? Have you ever wanted to be first in line for a big move off the lows and highs? Some of the best reversals tend to happen in a predictable way: a break of a level that fails and returns back to the starting price. These form our criteria for the most aggressive setups: The Pierce and Fail. I’ll explain how to find these setups, how to enter a position, and how to manage once you’re in the trade for maximizing the potential. Date : Tues, Oct 27, 2020 Time : 8:00 PM ET Location : Webinar Room (Lifetime Members only)
  11. 1 point
    Holy cow...OMG, the commission calculator spreadsheet - my inner math geek is about to take over and my afternoon is shot now! Thank you Abiel and BBT (and make sure to tell William thanks for a GREAT video and spreadsheet resource!)
  12. 1 point
    IB look set to move their London office, eliminating the PDT rule for UK and EU clients. See link for full details but from FAQ, Q: Will I be subject to the U.S. Pattern Day Trading Rule once my account is migrated? A: Accounts maintained with IBUK are subject to the U.S. Pattern Day Trading (PDT) rule as the accounts are introduced to and carried by IBL, a U.S. broker. The PDT rule restricts accounts with equity below USD 25,000 to no more than 3 Day Trades within any 5-business day period. As accounts migrated to IBLUX, IBIE or IBCE will not be introduced to IBL, they will not be subject to the PDT rule. But FAQ also say.. Q: What happens if IBKR does not receive the regulatory approval necessary to migrate accounts by December 31, 2020? A: IBLUX, while approved, it is subject to constraints on the permitted scale of its business and licensing for either IBIE or IBCE is therefore necessary to complete the migration prior to December 31, 2020. If a determination is made that neither will receive licensing in time, clients will be contacted with an explanation as to how their account will be treated at the end of the Brexit transition period. See here for full details. https://ibkr.info/en/article/3515?
  13. 1 point
    I have been trading the open, then working, and for the last 9 or 10 months, then working on a major house project with the rest of my daylight hours so time has been very short. I've tried various forms of journaling, from simple DIY to other people's elaborate spread sheet, software, and web apps. I am very happy with what I'm doing now as a way of getting the information I need while keeping the process short. That last part is important. The less time it takes, the more likely I am to stay on it and get useful information out of it. So here it is. It's really simple but is working the best for me by far: 1st, recording video with audio (the chat and me on a head set). I use OBS to record and VLC for playback. I have the days trades displayed in DAS and it's super easy and quick to move the slider to just before a trade and then watch/listen. The speed is really easy to adjust with hot keys which is really great to study trade management especially (and Andrew is really entertaining at 1.8x speed:-) I also talk my way through which helps while I'm actually trading. And wow, watching video, especially while listening to what I was thinking real-time is worth SO MUCH more than pictures! 2nd, I use a daily spread sheet to enter my risk, Gross $, estimated net $, gross & estimated net R, and gross & net account balances. I only need to enter my risk, gross $, and shares bought to get this info. Here's what it looks like: Date Gross Net R Shares Gross R Cum. R Gross Bal. Net Bal. 09/21/20 14 7 13 158 1.1 0.0 6274 3910 09/22/20 -6 -17 26 598 -0.2 -0.2 6268 3893 09/23/20 17 10 15 168 1.1 0.9 6285 3903 09/24/20 26 22 15 169 1.7 2.6 6311 3926 09/28/20 -14 -22 25 300 -0.6 2.1 6297 3904 09/29/20 16 2 24 694 0.7 2.7 6313 3906 09/30/20 -70 -83 34 1530 -2.1 0.7 6243 3698 I also have monthly totals and average R & win rates over a few time frames: Average R 0.2 Last 5 Average R 0.4 Last 10 Average R 0.5 Last 20 Win Rate 60% Last 5 Win Rate 70% Last 10 Win Rate 75% Last 20 This data also generates charts for cumulative gross R, daily R scatter plot (with 10-day moving average), and a gross & net account balance graph. All of this stuff is based on days, not trades. Then the newest thing, tracking whether I followed the rules or not, the accumulated R for each, and some notes. This is per-trade, not day like above. This has been a huge help to me! I can calculate what I would be doing if I actually followed my stupid rules!!! I can see how much it's costing me not to follow my stupid rules!!! And I can see which strategies might be working better or worse. The big value this has brought me is understanding that my trades are working (if I would just follow my stupid rules!:-) and what my results would be if I did. It means, if those results are what I want, I can focus on what's important (following the stupid rules!) instead of looking for some amazing strategy which will make everything better. And that rule-following data, it's in my face every day: R 3.8 -2.0 Trade # 28.0 5.0 Average 0.1 -0.4 Followed Rules September Yes No 09/21/20 0.7 1 ORB Would have been more but got out late after 1st cover. -0.7 MA 1.4 MA -0.4 MA Shorted just above the 50 on the 5. 09/22/20 -1.1 5 ORB -0.2 5 ORB -0.3 MA Tried reversal w/Brian 1.2 MA Did 2nd cover a bit to early. -0.3 VWAP VWAP before Z 0.4 MA VWAP – Z 09/23/20 -0.1 1 ORB Entered near VWAP for close safe stop but after 1 min. engulfing 1.6 1 ORB In w/Brian -0.9 5 ORB 2nd 1 min. ORB 0.5 VWAP 09/24/20 1.7 5 ORB In under MA Weekend Need to work on: MA rules, closer stops, cut losers sooner 09/28/20 -1.3 VWAP Didn’t sell after low vol. On 1 min. -0.1 VWAP Low vol. 0.6 1 MA Not on 5 MA 0.2 VWAP 0.0 1-5 MA Low vol. 09/29/20 0.0 1 ORB Low vol. -0.1 5 ORB Low vol. -0.1 1-5 MA -0.1 1-5 MA 0.7 1-5 MA -0.9 1-5 MA 1.1 VWAP 09/30/20 -1.5 1 ORB Was struggling & gave me chances to exit near BE. -0.2 VWAP 1.8 VWAP -1.1 Rev -1.0 1 MA I am also experimenting with a dynamic risk calculator which raises & lowers risk based on the average R and win rate over the last 5 days. The idea is that it will pull the risk out automatically when I start veering off the righteous path (like I did in July - ugh...). I think I like it but may tweak the calculator some after I have had more time with it. I hope this helps someone. I'm happy to share the spread sheet with anyone who would like it.
  14. 1 point
    I am super new to day trading. I've read Andrew's first book and have messed around in simulator's but am nowhere near using actual money. I've managed to save up a lot of money working a regular 9-5 and saving hard. Unfortunately interest rates suck and I thought instead of putting it in the bank or giving it to someone else to invest , I should invest it myself. My goal is just to make a bit of petty cash here and there to afford a weekend in away and go from there. I figure daytrading is just a skill like any other skill, it will humble you, but with perseverance and determination you can master it! Hopefully in a year we'll be able to share our success stories
  15. 1 point
    Hello Bear Bull Traders, This TradeBook is a collection of trading strategies that the moderators within our community trade throughout the day. It is designed to assist you in understanding the setups that our moderators discuss in the chatroom. The information contained within each of these strategies can also be used as a starting point in your own journey to create a personalized strategy. It is highly recommended that you begin testing any strategy in your simulator before attempting to trade with real money. Sincerely, Bear Bull Traders Team BBT TradeBook.pdf
  16. 1 point
    And all the ones you might have missed before. I became LT member in February and there have been a lot of great webinars since then!
  17. 1 point
    No other services. Alot depends on ur trader personality. BBT provides nearly 100% of what you need, T.I. Scanners, BENZINGA news / Squawk, Mental support etc. Listen to the moderators in chat, ask questions here and chat room, test different methods and the process....LEARN ur trading platform inside out....DAS, and u will grow slowly. It will feel like drinking from a fire hose, but work through it.
  18. 1 point
    Just as a general suggestion for those posting scripts in this thread, I recommend posting a link to the original thread you got your hotkey from ... a lot of these hotkeys have special instructions and won't work for all users (especially the ones I create, which are mainly Firm dependent). It'll save a lot of new users some headache trying to figure out a problem that may have already been answered. Plus, you're more likely to get help with a hotkey if you post the question in the related threads to them.
  19. 1 point
    I took time this weekend to make some adjustments for my trading after the Open, I didn't have written TradeBook or plans. I made playbooks for Parabolic Pullbacks and Mountain Passes, I also made a DaS layout that was just for observing my 6 stocks on watchlist. There is no montage to trade or anything else, just 6 1 minute charts. This will keep me from entering trades that don't meet the criteria of my ne TradeBooks. It worked very well today. I also recorded some affirmations this weekend that I have been meaning to do since Crede's last success webinar. The app I used is called I Am That I Am.
  20. 1 point
    Hey, thanks a lot for the reply! The #'s I posted were directly from my trade log --- entry was 21.95 short, stop loss set to 22.11, shares purchased were 2083 and stop loss was triggered at 22.12 ---- the risk was actually $333 versus $250 and my total loss stop amount was $354 based on the share size. The script is giving me too many shares for the risk $. Just seeing if my script is whack or if others are experiencing this as well, and just something we all live with.
  21. 1 point
    Ah, but there is... look for the blue "Alternate Formula" in my post "Share = BP *.25 *Price *.01;" That is DAS speak for DOLLAR RISK as percentage of EQUITY (i.e. not buying power). I know it looks insane but my post explains what is going on there. So if you have an account with $30,000 equity, it will calculate shares based on a 1% ($300) risk.
  22. 1 point
    Hi Jeromy, Thank you for sharing your journey (so far), and your plan moving forward, getting back to basics. I love listening to piano, especially when I am driving during the day. I find it very soothing and inspiring, depending on the piece. The YouTube video of William playing is great, will put it on my preferred list. I totally agree you with you, watching Andrew in the "zone" during opening drive is amazing. The way he moves in and out of positions almost seamlessly without any visible emotions, is something to thrive for, and something we all can learn from. Although I believe, it requires a certain type of personality to do what he does and how he does it. But, as he always says, we all have to find the strategy that suits our personality. Personally, I am not very good, or fast enough for ORBs during the opening drive, try to wait out the first 5-10 minutes to see the chart form. Looking at the bigger picture, zooming out little bit more, gives me bigger confidence and chance for a better R:R. Below is one of my SPCE trades during the day. Do you have a favorite strategy, or set up? BTW, great trading station, plenty of screen space.. Have a great week, Karl
  23. 1 point
    This is really interesting info - thanks for sharing!
  24. 1 point
    1 trade, didn't like the volume, felt like the follow through wasn't there. Hind sight 20-20, should have just moved stop to b/e. Whoops! Almost took $CODX for a 5 min ORB here Have a good weekend!
  25. 1 point
    Hey Kelly/Simon thx for reply. I got an awesome trading partner and her and I meet up from time to time in south east Edmonton b/c thats where we live. Would love to do a meet up with anyone YEG sometime. If Simon/Kelly are in perhaps the 4 of us can meet next friday afternoon or something? We can work something out. Wanna start a WhatsApp group chat or something you can PM me your numbers?
  26. 1 point
    Yes Brandon, at the end is trader preference and style, for example Andrew just uses hotkeys and Thor just hot buttons.
  27. 1 point
  28. 1 point
    Ever wanted to swap line styles on the fly and make a rainbow on your chart? You can do that in The hotkey isn't the easiest to understand, so I very quickly made a web utility for you (link below). How to Use: Go to URL: http://kaelmedia.com/projects/das-line-config/ Select a Line Type, default is HorzLine Select a Line Style, default is SolidLine Select a Color, default is Barney Select a Width, default is 1 Hit "Generate" Glance at the preview window and see if it is what you wanted. If it is, hit the "Copy" button and it'll be placed in your computers Clipboard. If you wish to share you creation, press the "Share" button and a special link will be placed on your clipboard to post in the forums. Example: http://kaelmedia.com/projects/das-line-config/?hotkey=ConfigTrendLine horzline dotline:035aab:1; Paste the copied hotkey (looks like: ConfigTrendLine horzline dotline:035aab:1; ) into your DAS Hotkey Configuration. Optionally, bookmark or save the line so you can edit it in the future (it adds the settings to the browsers URI/URL). How the Hotkey Works: The hotkey as designed will swap the DEFAULT config for the Line Type chosen, each type has one default stored for the user. So if trigger a hotkey with a horizontal line with a blue color, your very next (and all following lines) horizontal line you trigger on the chart will be that configuration (blue). Because of this, I have a "default line" hotkey and a series of colored hotkeys, this allows me to toggle back and fourth. Advanced Uses: Go HERE.
  29. 1 point
    Hi Brandon, it depends on personal preference and time of the day / strategy. In the market open (scalping / momentum trading) you want to be quick so hotkeys could be best.
  30. 1 point
  31. 1 point
  32. 1 point
  33. 1 point
    When you hit the button to take your partial you can add this to the end of it to set a stop at break even. This is a 25% partial with stop at break even: CXL ALLSYMB;ROUTE=SMRTL;Price=Ask+0.02;Share=Pos*.25;TIF=DAY+;BUY=Send;TriggerOrder=RT:STOP STOPTYPE:MARKET StopPrice:AvgCost ACT:BUY QTY:POS TIF:DAY+
  34. 1 point
    A lot of members in our chat is looking to find a program to record their trades. I've been using Das recording for a while now. I wanna share with you guys a tutorial video how to do it step by step. If you have any questions or need help feel free to ask.
  35. 1 point
    IMHO try this for a stock and see if u get a better pic 1. Add a T&S widow between chart and montague 2) On chart, config it to show BID/ASK and remove LAST PRICE so its not too much being displayed. 1 min chart only. This will also give u feel of spread easier IMHO. 3) When watching tape focus ur eyes on topline T&S while ur peripheral vision is on chart to left of T&S and montague on the right. Try i c if u get a better feel.....LAST PRICE will be in TS
  36. 1 point
    Hi folks, here is a copy of the playbook template I discussed in the Feb 14 recap. The file is obviously a sample meant for each individual trader to complete with their own strategies, patterns, and setups. https://drive.google.com/a/bearbulltraders.com/file/d/1bmu3XzT_KtzTfya2Fo7Uqc7DZG_N7q-B/view?usp=sharing Please download a local copy as .xlsx
  37. 1 point
    My best and worst HOD break trades from July 1st, 2020
  38. 1 point
    All, I read an interesting thing yesterday, claiming that 66% of AMD's 5-Min ORB strategies work, which was apparently backtested over a number of months (and this 'news' item was several months old). I was skeptical to say the least. However, I decided to test the theory out myself, especially since AMD is in play quite often. It took a bit of work in Excel, and in historical charting software, and I stuck to the following rules & assumptions: SL set just beyond VWAP 25% partial at all R's, SL set at B/E after first R (Tested on 25% at R1, and then 50% at R2+, but it's less profitable in this instance) Based on 0.004 p/s commission structure, with $0.50 minimum per ticket ECN fees are *NOT* included I also only managed to do only 3 and a half weeks of back-testing before my conclusions were becoming a bit clearer. Here is the sheet for your reference (and if you wish to back-test stocks yourself). You can also customize your Risk Amount, and partial % factors. Summary Conclusion: Yes, indeed it does appear you get get 65-65% success rate on a 5-min ORB, at least on AMD. However, the returns based on the above assumptions and strictly sticking by the rules, are quite low. There are a couple of really nice days, but by and large the positive days are just meh. While many may not find value in this, I did want to verify the claim myself and after the work I put into it, felt it may be nice to share for other people's reference. Happy to receive any feedback. Thank You.
  39. 1 point
    Hi everyone, has anyone seen this article? Not sure how factual it is but it does raise concerns for me. It is money that I’m able to lose and I currently have an account with them. Assuming CMEG does go under hopefully they would notify clients prior to allow withdrawals like Suretrader did. I would like others opinions on this! https://www.tradingschools.org/capital-markets-elite-group/
  40. 1 point
    CMEG 3 month Review I wanted to wait a few months before giving my opinion on CMEG. I have been using them since late February 2018 and am one of their initial client accounts. Let me preface this review by saying no broker is perfect but if you are using SureTrader...CMEG is far better overall and a solid choice for small accounts learning to trade with no PDT rule. Their client service is more than happy to talk/email you on any concerns. Who is to say other brokers do not experience the same issues from time to time? I will begin with some issues over the months I have experienced: 1. Orders getting executed (I have experienced times where I could not close out of a position and had to call/email them to manually do it). This lasted for a few hours, sometimes until the next day but usually was fixed overnight. ~2-3 times since February. I was not given a reason why this occurred. Also they do not reimburse any losses incurred for being unable to close out. 2. Changes to their margin policy (without email notification or a phone call on updates to their trading rules). For example, some of my hotkey scrips use % of Buying Power. On a few mornings CMEG had updated their margin allowed and the requirements behind usage. As a result my orders were not getting filled and I had no idea why! Rule parameters could vary from how much margin is allowed with long/short positions/per stock price/maintenance requirement per share...etc. I had to troubleshoot scripts with a real/demo account to understand what exactly was going on...alongside email/phone calls to the broker. A good habit was to test orders in pre-market with the provided demo account. Just because you were able to swing with 4:1 margin without liquidation or use full margin short at the open on XYZ stock priced at X dollars does not mean you can the next day. It's best to check their policy regularly or even better just call to see if there was an update. There was no mass email to clients for rule changes. However, I believe they now inform clients by email for most updates. Excellent! 4. This broker is overseas so be prepared to face international calling charges. However CMEG did help and credit my account for me unknowingly incurring international phone charges. They are not toll-free. They also credited back some of their platform fees that I incurred for the inconvenience of any changes that affected my trading which was very nice. A sign of goodwill and respect to clients. SureTrader refused to credit me back their withdrawal fee $40 after having me wait 3 weeks due to an error on their end to receive my money...I will never go back. 3. Platform software updates - they should inform clients of all manual changes, i.e the Mobile DAS App Order Route had to be manually changed to be able to login on your phone. This had to be changed to route 5016 from 5010 when they released an updated desktop client. Probably just an oversight but I had to take hours out of my day to figure this out, work with DAS tech support, and groupthink with BB members. Also it is best to talk to DAS tech support for any issues related to all licensed DAS platforms, both mobile and desktop. I did not expect CMEG to know everything about DAS as they are a broker and license the platform. 4. Email responses can vary, sometimes less than an hour, sometimes more than a day depending on the situation. Sometimes their phone number doesn't connect through, and I need to call a few times, and I think some of the email signatures use an outdated phone number? Something I'm not sure about that Lee W brought to my attention. I think IB can set up or the direct platform license from DAS has a risk feature you can right click on your account and set up risk parameters, i.e Max Loss, Max Loss Per trade. Not sure on this but CMEG does not offer that feature with their DAS license. Would be a nice feature for new traders to use though. I listed these concerns so CMEG can eliminate them. I am not criticizing their services and am 99% of the time pleased and comfortable using them as my broker. I often email them with suggestions on improvements and compliments. If I am able to work with these issues as a new trader you can as well and should use CMEG. Overall The $2.95 per trade promo that Andrew got us is probably the best you can get out there, unless you scale out 10 times, then IB may be the better choice if you have the account balance, or perhaps Speedtrader. This makes new traders less worried about commissions and breaking even and more focused on trading the setup. SureTrader charges $5 per trade in the U.S. and this makes it very stressful to manage, trust me. Performance has been getting steadily better (orders have been getting filled without issues for well over a month now). Closing positions has not been an issue for over a month as well. Excellent so far. FREE SIMULATOR, when you open an account! SureTrader does NOT offer that. The executions are very fast. Short inventory is excellent (they route through IB and seem to have even more available sometimes) I have not had any crashes of the platform. Windows 10 Pro. They do not restrict margin with many stocks, only in very very rare cases is margin restricted. I think in 3 months I've only seen 1 stock restricted and that was LFIN lol R.I.P. This is a huge advantage to build up small accounts over other brokers like SureTrader and IB. You need at least 5K buying power to make profits over these $2.95 commission fees on most stocks we trade. With 4:1 margin for <2.5K balance and 6:1 for >2.5K that's not hard to maintain and slowly grow on 1-2 trades daily A+ setups. The growing pains of their risk/margin policy changes has settled down. I think they compromised what they can manage and what traders feel comfortable using. It has been over a month I think, since the last big change, and I like what their rules offer! Makes new traders at ease. Rules are available on their website to view. I can pretty much use margin on almost all stocks I trade without issue. I don't trade stocks less than $10 too much and their rules tend to be for very low priced penny stocks. So if you trade from Fernando's watch list you may not be able to use too much margin. Also be aware that in the past you may have been able to swing positions using full margin, that has since been reduced to 2:1 margin, you get an email warning around ~3:48PM and ~3:53PM their system automatically brings you within that limit. When I asked, forced liquidation was not a part of their procedures but came into effect without me being made aware...so it's best to double check their rules weekly or you can learn the hard way. Remember they sometimes update their rules without emailing clients. If you were able to swing with margin in the past, give them a call to make sure you stay within guidelines come market close...if you're caught in a bad trade but like the daily swing. This really doesn't matter because you shouldn't be swinging with much margin anyway right? All in all, I would continue to use this broker and recommend them to new traders wanting to build up their accounts, learn to trade, practice in a sim for free, and use an excellent and tested platform. They are constantly improving and love to receive constructive feedback. It can only get better from here as they develop. Oh yeah wait times on the phone are usually pretty low, couple minutes at most, unlike some other brokers and their service team remembers you! Thanks Andrew for working with CMEG to help us small account holders be able to day trade along side the big boys.
  41. 1 point
    This is a great question. I had the same experience of doing well early and then having more problems later. I am a very curious person and I am a trier. Once I know something can be done I will never give up. This sounds great for trading right? It is, but also it means that I just keep trying things when I should give up and focus on one thing! So I tried opening range brakes, I tried reversals, I tried momentum trading, I tried trend trading, I tried scalping, I tried it all! I tried going live after 6 months in the simulator and it was a total disaster. I reacted emotionally after a big loss and tried to make all my money back on the next trade and lost twice as much. So I went back into the simulator and then I tried going live again a few months later and it was better but still not good. Then I mostly traded in the sim and sometimes when things were going well I did some live trades but I knew that I wasn't there yet. I finally got to the point where I had come full circle. I had tried all the different things I was going to try and I was starting to look back at what had worked best for me and came up with what I really wanted to stick to. For me it was a matter of keeping things very simple and doing very few trades. I decided to do one five-minute ORB. No trading in the first 5 minutes! Had to wait for that first 5-minute candle that close and then look for an entry. Then I would do one VWAP break, usually after 9:45 or so, and only enter on volume. I would not do any trading after 10 am. Working this plan really helped me in a few ways. First, if I had a down day it would be a small down day. Things can only go so badly when you just do two trades. Also, this kept the fees down. So once I could do that consistently and I was getting decent results and, most importantly, it just felt like a normal thing everyday, I went live again and have been live since then. That point of going live was after a year and a half of trading the open before my job of running my small business every day so it took a while! I track my 10 and 20 day averages, focusing on R multiples not money, increasing my risk when my 20 day average is above .5R and now sometimes do another one or two trades and sometimes trade a bit after 10am. So anyway, finally deciding on two simple trades to focus on was what did it for me. And doing just one ORB and then waiting for a volume entry on the 2 min. chart for a VWAP break kept me from making entries based on reactions instead of rules.
  42. 1 point
    This is my favorite setup of them all. I have the same LG 43 Inch monitor and you got that right monitor to fit flush perfectly. You’ve inspired me to do the same. Plenty of great ideas from you all!
  43. 1 point
    Thanks @Robert H! I finally made it further down in the Education Center playlist. Your contributions are still paying dividends. I know now that I am normal and it is fixable... https://bearbulltraders.com/lessons/robert-h-2-17-19-time-frames-and-chart-patterns/ https://bearbulltraders.com/lessons/roberts-rants-patience-and-perspective-pilot/
  44. 1 point
    Decided to make a video on this topic. Enjoy!
  45. 1 point
    Check your studies ConfigEx. It looks likes that PriceMarker level at 41.75 is included in scale.
  46. 1 point
    Thanks Robert for the information. Very helpful. My 2 cents, For step 3, if you are using the Web platform for IB, then you can do the following. 1. Go to Orders & Trades 2. Enter a Symbol - Enter the Currency which you need to convert (in my case EUR -> USD, so I had to enter EUR.USD). 3. Click Sell order 4. Quantity - how much money you want to convert (for e.g 1000 EUR) 5. Order type -> Limit, Time-in-Force -> DAY 6. Submit Sell order. You get filled, when the price hits. You can go to Portfolio to check for confirmation.
  47. 1 point
    Hi Bart, We received your e-mail response. Please note that replies to that automated e-mail address are not monitored. It's best to use the forums (here) to communicate. My solution to your issue is to explicitly state the number of candles in the hotkey. For example: 1-minute chart: MinuteChart 1 3d; NumBar 30 5-minute chart: MinuteChart 5; NumBar 24 You can change NumBar to whatever zoom you prefer.
  48. 1 point
    When you scale out at a .10c move, are you moving your stop (physical or mental) to break even? I ask because I changed scale-out strategies in August (SIM based) and took a huge hit (30% winrate, -$4000 on the month). I wanted to "let the runners run" and wait until it got near my price target. I was able to review the data at the end of August and noticed what was going on (what wasn't working). Like you, my numbers showed that my avg loser was way bigger than my avg winner, per trade expectancy was negative. I think the biggest (good) changes were the scale-out and the risk-based share sizing. Obviously, each person needs to develop their own strategy, but my current strategy is this: 1) Risk Based Share Sizing (see dynamic calculator in DAS area of forum) factored for confidence (e.g. if I'm not confident, I use smaller size than my max-risk allowable). My share size is based upon the stop distance. 2) When the stock reaches 1R (if my stop distance is $0.13 away, it'd need to move in my favor $0.13), I sell 25% and move my mental stop to break-even. I repurposed the Fibonacci tool (since I don't use it) to be a 1R, 2R, 3R levels indicator. 3) During the trade, I scale out some more where I see resistance forming or near known resistance levels (moving averages, half dollar, whole dollar), or at 2R, 3R, or the price target. Using my sell 25% hotkey. 4) My mental stop tends to float, so if a moving average that has been respected recently (bounced off of) is above my break-even point, I'll watch it as an indication for a change of direction (it can go past it a little bit to allow variance) and use that as a trailing stop. 5) Once my shares get down below 100, I usually measure the last two pullback distances, add a few cents to it (as long as it doesn't place it below the break-even point), and set it as a trailing stop order. Move on to the next trade. What really helped me refine this to my personality was a few data points that I record with every trade: - Highest Price in Trade (this is price related, not direction related, so highest price seen for either long or short) - Lowest Price in Trade Those aren't prices you executed at, but prices that the stock reached while your trade was open. From there, I can calculate the average R-movement, updraw%, and downdraw% for every trade. When I reviewed August's losses, the data told me that: 78% of my picks moved in my favor. I was simply not scaling appropriately and letting winners run against me. My position sizing and $risk was all over the place. For September, I implemented the new strategy listed above. Winrate is 76%. It has a lot of "small" wins. I'm working on releasing a few custom tools to the community to help people narrow down their strategy and refine their edge. One is a data-focused journal (does most of the work for you) and the other is a backtester (allowing you to automatically replay all of your trades with different scale out approaches you want to test).
  49. 1 point
    Hey George, This is something we all starting out struggle with, our Losers being bigger than our Winners. Here is my advice and is only based on what I personally experienced. There is no way to really tell you what you can improve on without seeing the details of your trades over a period of time. This is were a mentor or a trading partner you can be a huge help. When I first started I was not getting a good enough entry and was hesitating a lot to get into a move. Sometimes we want firm confirmation that the move is going to happen and we get in too late. Make sure you are trusting your set up and that you are getting in with no hesitation once you spot your signal. Trust your set up and get in as soon as possible. For me setting stop loss by a set amount can sometimes mess with your judgement, I set my stop loss based on a technical level, meaning the low or the high of the previous candle, daily level, LOD/HOD this puts my trading at ease. Based on how much room I need to get the stop loss I decide if i will take a full position or half position. If my stop loss is .30 away on a very active stock i am not going to take a full size. If is .20 cents then I feel more comfortable taking a full position. Once in the trade check out the price action and what is telling you if you see any indication that your is likely not going to happen get out regardless of the stop loss. I used to set a stop loss and sometimes when the price action was not looking favorable I would still stay in the trade to see if it would work out then get out at my stop loss. Instead of losing a .05 I would lose .15 . There is no reason for that, jump out and if the set up becomes active again jump back in. Andrew is great at this, we cannot be afraid to jump out if things don't look good for a small loss and jump back in when the set up is back in play. Easier to make up 5 cents than 15 cents. There are so many variables and other possible areas of improvement but again without knowing what your specific struggling with it's difficult to hit the nail on the head. Others might also have a different answer that can fit better to what you are experiencing, so look forward to seeing responses from other members as well, as we all deal with this differently. There is no wrong answer, just what will work best for your trading style.
  50. 1 point
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