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Showing content with the highest reputation on 05/05/2019 in Posts
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2 pointsForget 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
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2 points
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1 pointHey guys, not sure if anybody else on here has TraderVue, but if you're interested, use this link to sign up: https://www.tradervue.com/?friendref=8245 and you'll get $10 off your first month! I've used the free version for years and recently upgraded to the Silver plan. The reports that you get are freaking awesome! You can also tag your trades based on different criteria or setups (like VWAP fade, Moving Average Trend, Bear Flag, etc) and you can view reports based on these tags. Here's a screenshot of my tags that I took the other day. Note that I need to modify my tags a bit as they are a little too general. Anyways, not sure if anybody else uses it, but it's definitely worth the $30/month in my opinion! My username on it is rdubz85. I don't normally share my trades, but I may start doing it soon.
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1 pointThis 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!
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1 pointFinding the BBT group inspired me to build my latest PC back in December this past year. Cheers, Liam
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1 pointWeek 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.
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1 pointI 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!
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1 pointRisk 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.
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1 pointConverted 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.
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1 pointFriday 5/03/2019 I had a well-being score of 5/10 this morning. Nerves were OK. Disappointed with my trade management today and this week in general. Took one live trade with AAPL. AAPL looked in play in the premarket again. AAPL was setting up for a “step” setup 2min ORB. Though the volume on the second 1min candle was not as high that I like to see for this setup it was not light either. I waited for the break of the 2min candle. I really liked that the 3rd candle bounced hard off the $211 making a hammer. The 1min chart looked bullish. When the break occurred I went long. Target was the $212 level and stop out was the $211 level for a R/R = 2. And use HOTD as my first target. What the 1min chart looked like when I took the trade: I'll admit checklist look weaker than most of the trades I take: Sadly, the stock immediately reversed the instant I took the trade. Though the $211 was my S/O for some reason I changed my mind and used VWAP as my S/O, which causes 5 issues: 1) That S/O was not my plan. 2) I now have the wrong share size for my risk 3) The price bounced off of the $211 level three times proving it a strong TL and thus the breech of it is the correct S/O. 4) I have found VWAP not a good S/O most of the time for AAPL. For AAPL it tends to bounce before VWAP, if it will bounce. 5) If it breaks VWAP there tends to be an acceleration causing a big slide in your fill price. So I used VWAP as my S/O and paid the price with a -1.5R stop out. What I did good today: I immediately stopped trading after that bad trade. It never crossed my mind to take another trade. I had a bad trade, I am not in emotional control so my trading day is over. How did I challenge myself today? Traded without my Etrade platform today, which I use for news and scanners. I think it is slowing down my DAS at the open so I did not use it. What I did bad today: Didn’t follow my exit plan. Sadly, not the first time this week I did that. What can I do better next week: Since my exits had been good for months I hadn’t placed much importance on them. But like all the facets of trading they need upkeep as well.
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1 pointFriday May 3rd, 2019 Sleep: 7.5 hours. Mood: calm focused and ready to trade. I was feeling really good in the pre-market. i didn't have any worries about losing money and just wanted to focus on good trading. started off looking at X for an ORBU off the previous 2 day low. didn't take the trade on fear and missed a beautiful trade. This has been my go to lately, either i don't take the ORB that would have been great or I take it and it chops around. instead i took SQ on a VWAP breakout, i liked the 5min spinning top with the 200 MA support above it. It turned out to be a false breakout and i went short with 35 shares which was too heavy for my stop with a 1min close above the 200MA. got stopped out for a lose of about $18. GOOD: fine trade idea. RFI: not a setup i trade and should have been prepared for a false breakout. MOOD: conscientiously ok but with pangs of anger. CONSISTENT: yes got out at my plan. So then after missing a good ORB in X and getting stopped out in SQ. i tried to sell the pullback in CTSH. went in too early with too many shares and got auto stopped out for another $18. bad psychology on this trade. Tried to revenge trade and got burned. it did end up going lower as i thought, just without me in it. GOOD: DAS auto-stop out me over my max limit for the day so i can't do any more damage to my account. RFI: right idea on the trade just too early and not at a stop that was logical MOOD: not good. CONSISTENT: no, bad trade all around. worst trade of the week. So that was all the money i was willing to risk on my live trading so it's back to SIM for two weeks, three at most. while i refund my account. i don't plan on staying too long in SIM because it's not my sim trading that's the problem, it's my fear of being wrong that causes me to overthink trades and not be market focused and end up taking bad trades. i would like to work on my entry timing and trading recognizable setups. What i did good today: stopped trading. What i did bad today: missing good trades, revenge trading. What can i do better tomorrow: need to work on my trade setups and psychology.
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1 pointNorm, this one's for you! Ok, here's mine... cobbled together from 2 older machines and a discarded large monitor...but notice all that empty space on the wall? That's where my husband is going to hang a 50" tv if I make my number. I mostly swing trade, so this set up isn't a hindrance currently, but as I develop my day trading skills, this will clearly not work. For those who may wonder about 2 laptops, I am trading 2 different accounts and for the way my brain is wired, this keeps me from getting confused.
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1 pointIs it the job of an owl TRADER to scan for opp ortunities with patience and an open mind?
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1 point
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1 pointTwo 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."
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1 point2.May.19 Today I had $SQ, $AMD, $MSFT & $TSLA. $SQ had earnings and $TSLA some news on Funding. I don't trade $TSLA as it is so voltaile, just watching. $MSFT had gapped up a little bit. I noticed a gap in the daily (check the daily chart below) sometimes price tends to close the gap during the day. I have seen Andrew, Norm and William trade this setup or atleast mention it in the BBT chat before. There was 9MA on daily and once that is broken the price may come down to close the gap. I was short $MSFT at the breakout of 1min candle. Got stopped out. Price struggled to go higher, candle closed below VWAP. I was confident and went short again, got stopped out again. I didn't have any more trades left this week. Later in the day at 10.15AM hanging man appeared on 5 min and then the price dumped to the target level of $125.88. My setup was correct, I felt my entry was Ok too, but the price bounced off at 9MA level (127.13) twice. Then setup occured later in the day. If I was around and had the option I would have traded this again. Good point: Good analysis and follow up. Improvement: Broke the rule that I won't enter the trade in the first 3 mins. Result: another red day. $40 down. I think the candles may not be so much relevant on 1 min at the open (as the volume can override the setup - in otherwords choppy). I should trade ORB quickly and leave the trend setup for mid morning. There is always pullback.
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1 point1-May-19 Like most traders today, I had $AMD and $AAPL on watchlist due to their earnings. $ROKU and $NBRV were also in my watchlist. At the open, I was watching $AAPL and $AMD and felt both were choppy. Atleast that's what I saw. I didn't see any pattern in the first 8 mins, so locked my montage and was checking other stocks. I saw $DIS making very nice ORBD, I felt FOMO. Then I checked $MU, it was setting up for ORB up on 5 min. I went long without checking 1 or 2 min charts. Price went against me and I got stopped out. I made 2 mistakes. I didn't check all the charts before entering the trade. There was a Shooting star on 1 min, just before I went long. It was a clear indication for price to go down, but I went against that. $MU was not at all on my watchlist today and I didn't prepare to take it. but I just jumped in due to FOMO. I should have never traded something that I am not watching. I did all the hardwork premarket to prepare my watchlist and completely ignored and entered another stock. This is bigger mistake. I should remain patient with the stocks on my watchlist. $AAPL, $AMD, $NBRV all traded beautifully. I missed out. I wasted my one trade for today. My share size was 100, and I was down 18$ at the end of the day, including commissions.
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1 pointToday was very tough day for me. Not my worst day, but I didn't follow my 3 trades max rules, not wait for good entries ans didn't be patient to wait the setup to be really good. Today I disapointed myself because I worked really hard and I mentally prepared before each trading session and eveen break my rules and not trading good. Sorry if that sounds depressed, I'm not, but I really struggle and be disapointed, in the last 6 days I dont have any positive days and struggle to get some positive trades, so it's hard times. Tomorrow I go back in sim. For today I will only put the screenshot of my trades, I will go running before I quit for work. If you have any comments or advices I will appreciate.