Leaderboard

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.

Hi there, I have a clean account with $50.000 at my broker and will start day trading the BBT strategies from Andrew his books live on Monday 6th of May 2019 for 1 month. This thread will be a log of my journey into preparation to it with struggles and hopefully, somebody can learn from my mistakes or help me to be successful. If anybody wants to help mentor a bit I'm willing to reward if needed or donate to charity. I will post broker statements every day and describe all my trades. Basic rules will be: 1. Only trades with strategies from the books from Andrew. 2. Maximum loss per trade $250 - (0,5% of account) so size will be positioned accordingly to this rule 3. Maximum loss per day $1000 - All trading of the day stops when I'm down $1000 4. Daily target will be $500 - Trading stops when hit. 5. I can only enter trades between 9.3am and 11.30am NYC time So maximum I'm willing to lose here is $20.000 in this experiment in 1 month. I'm not a beginner in trading and I have 100% free time to trade like this full time. I'm mentally prepared to lose 20k, I see this is a worst-case scenario and I accept this fate. I will do everything I can to prevent this from happening. Wish me luck and let's see how I will do! I'll appreciate all advice and comments! Cheers Vic

Finding the BBT group inspired me to build my latest PC back in December this past year. Cheers, Liam

Week 18 Recap Rough week of trading for me. Only one trade this week was a winner, win rate of 11%. That trade that was a winner was pretty good and I got out right at my planned profit target. I started missing entries this week on perceived fear of the price going against me causing me to miss good trades. I’m too focused on my P&L and worrying about losing money and not being market focused enough to get in to good setups. Back to SIM for a couple weeks to reset and get my mind focused back on price action. · Weekly stats o 2.0 R/R (Goal: above 2.0) [Previous Week: 2.5] o 12/36 33% (Goal: above 80%) [Previous Week: 54%] o -$97.43 (Goal: $250) [Previous Week: -$46.59] o 4/9 44% trades with the trend (Goal: 100%) [Previous Week: 57%] o 7/9 78% Non-optimal Entries (Goal: 0%) [Previous Week: 36%] o 1/9 11% Letting Losers Run (Goal: 0%) [Previous Week: 0%] o 5/9 56% No Setup (Goal: 0%) [Previous Week: 17%] · Highlights o Great trade in JD, good planned R/R and executed exactly as planned. o Only let one trade run past my stop. · Ongoing things to work on o Still way too early on almost all my entries. o Not trading my setups hurt my performance this week. o Starting to get fear entering good positions.

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!

Well, then I'm the first, I trade extremely bad in Sim not caring about plans because it's fake money anyway, but when i have some money on the line I follow the plan better. Thanks! :-)

I have been doing that for a while now. I don't start from zero. Simulation trading is a great thing, but it's absolutely not working for me. I have zero emotion when I know there is no money on the line. I would even say that if my positions are too small I don't feel anything at all. Simulation trading is teaching me bad habits, it's putting me in a wrong mindset. Did you ever read about people who are profitable on sim, and then they go live, blow up massively or are all of a sudden in a huge loss? This is exactly why I would say it's better to learn to trade with a small size with real $ on the line compared to sim with fake money. But that's just me.

Hi, what you are referring to is a DOM (Depth of Market). For example, Tradestation has a DOM (or 'ladder') called 'The Matrix'. It shows the total number of bids and asks at each price level on both sides. Visually, it's easier to see when there's a large order a certain price level (always at whole numbers and usually at half dollar increments). The Montage or Level 2 (Market Depth) window, presents the same information, but in my opinion, are better. The reason is the Montage (level 2/Market Depth) window, shows each market maker at that price. Rather than aggregating everything at a price like the ladder/DOM does. This is vitally important when trying to understand what market makers/participants are trying to do a different prices.