Leaderboard

Andrews video "Averaging Down vs. Adding More in a Pull Back" is an excelent remider of the dangers of averaging down when your trading strategy / idea is not longer valid. Andrew reminds us in this video that "the market can stay irrational longer than one can stay liquid" and provides an excelent example that there isn´t deep enough pockets with Brian Hunter´s case who lost 6 Billion trading natural gas. even you can watch the 1999 movie about Brian Hunter, Rogue Trader with Ewan McGregor.

Hi folks, this is what I use on a daily basis as you see it. I open the chatroom on the right monitor and toggle back and forth in the pre-market. Once the market opens, I usually just listen to Andrew and stay focused on my two tickers I have set up on that right monitor. I have tried many configurations, but after several months have settled on this configuration and it has worked well for me. Left side monitor is for morning research and scanning. Watch list is there on the lower right of the left monitor. Center and right monitors each have 2 tickers for a total of 4 stocks on watch. For each ticker I have level II, time and sales, 5-min chart, 1-min chart and a daily chart. Below are the specifics of my equipment for anyone interested. Cheers and happy trading. HP Spectre x360 Convertible laptop Intel Core i7-6500 CPU @ 2.50GHz 16GB RAM 256GB SSD Windows 10 Home 3 HP Pavilion 32inch ultrawide LED QHD Monitors, resolution is 2560x1440 Connections are 2 DisplayPort (docking station) and 1 HDMI (via laptop port) Targus Docking Station for ethernet and the additional video connections Logitech wireless mouse and keyboard (I know how Andrew feels about these, but I have been using a wireless keyboard and mouse as long as they have existed. Never had a problem. I change the batteries religiously every quarter and get new equipment every few years.) Trust me when I say that any hotkey trading errors I have experienced were not the result of my equipment. Hardwired Ethernet connection to cable modem gets me 200+ Mbps download and 70+ Mbps upload speeds. Have cell phone app open when trading so can close trades in an emergency power or internet outage or a system crash…yes it’s happened! Hotkeys are setup via trading platform and accessed either with my external keyboard or Apple iPad mini. I use an app called “Custom Keypad”. It is $4.99 in the App Store. I connect the iPad mini to the laptop via a program called Tight VNC Server. Easy to set-up and use. The keypad app provides unlimited ability to create custom touch-screen buttons. I have used it since March 2018 and have never had an issue. That’s over 550 entries and exits for me. I’m satisfied it works.

NFLX Reverse ABCD and Double Bottom Reversal - April 17, 2018 NFLX gapped up on earnings and hit new all-time highs. Andrew traded it numerous times in the morning until noon. However, I didn't touch it as I had already hit my daily profit goal trading other stocks. At 3 PM, I came back to my desk and saw that NFLX was selling-off badly. I thought to myself 'I'm done for the day, but this looks like a great opportunity.' I ended up taking two trades: one short and one long. 1st Trade - Reverse ABCD on the 1-minute chart From above, NFLX had lost the 9, 20 and 50 MA's on the 5-minute chart with little resistance. I decided to wait for a pullback and see if there was continued weakness. After the pullback I went short on a new 1-min low at 335. My stop was the high of consolidation area at 335.50. I covered at the 334 level and below during the $2 drop. 2nd Trade - Double Bottom Reversal on the 1-minute chart After closing my short position, I thought I was done for the day (this time for real). But nope, I saw a double bottom form on the 1-minute chart as it failed to make a new low on the 5-min chart. I went long at 334 with a stop below the second bottom of 333.40. The moving averages on the 5-minute chart looked like potential profit targets. NFLX rebounded and climbed back up to the MA convergence area. I managed to take profit gradually on the series of higher-highs and higher-lows. My final exit was just shy of $337 which was nearly $3 above my entry.