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Showing content with the highest reputation on 05/09/2019 in Posts

  1. 2 points
    Thursday 5/09/2019 I had a well-being score of 6.5/10 this morning. My nerves were a bit bad, but that was due to the double stop out yesterday. Took two live trades with CVX and AAPL. I was going to take a quick trade in the premarket to test my new layout. It worked fine in SIM, but I would feel better live. I was going to take very small shares to test. CVX was not moving much but had liquidity and a tight Bid-Ask range. I was about to take the quick trade but I noticed it was actually setting up. So I thought I will wait a few minutes and if the price goes down to touch 5min VWAP again (which is aligned with the 9MA) then I will go long on the bounce. It did and I went long with a very tight stop. As usual, the market likes to destroy whatever plan you have. Right after I got my fill the spread exploded to almost double my risk! So that got the heart pounding. The good news was the price was still bouncing. I really like when I take trades with a large gap between the 5min and the 1min VWAP. It seems the one VWAP pulls the price from the other, when you enter in between them. So I went long when it bounced from the 5min VWAP and the price road up to the 1min VWAP. It’s funny, in the premarket, how you immediately stop watching the price action and I was only watching the bids on L1. Shortly after it broke through VWAP the spread went back to normal and I got out. Even with the low shares that was a surprisingly profitable win. That premarket trade calm my nerves and I was fine at the opening bell. Then AAPL broke down through $200, which means it is very likely I will be trading in the first minute of the open again!! Which got the heart pounding once again. I decreased my share size accordingly since I was trading <1min from open. I don’t usually take the reversal back to VWAP trade, but AAPL got really extended. Now something funny happen. I was so upset at myself for taking two bad trades yesterday due to never looking at the 5min chart, that I guess I unconsciously over compensated by taking this trade ONLY looking at the 5min chart!! So after it reversed I saw no levels to choose as an entry or S/O. But if I was looking at the 1min chart I had a daily level at 199.36, which I didn’t see. So I chose the $199.50 as my entry since I had nothing else on that chart. The price shot through that level so I got a bad fill. I essentially lost 30c on my entry by looking at the wrong chart. So another day I traded ~30sec from the open. Now this is where it got interesting. I had almost no levels on my 5min chart to take partials. I just took partials where ever the price stalled. After I took my fourth partial (there I had a level at 200.83) on the 5min chart, I realize I am looking at the wrong chart. But the trade was almost over then. When it broke down and dropped below the $200 level I exited the trade. The reason this was interesting is after the trade I noticed I took partials exactly where I was supposed to even though I didn’t see the levels. So these levels did mean something and it is why the price just stalled there. So I took my 1st partial at 1min VWAP, my second at low of premarket, and my third partial at HOTD even though I did not see any of these levels on my 5min chart. Though I really messed up on the entry, I still got my $1 move from AAPL and that is all I ever ask for. My score card on the AAPL trade is a bit low due to the poor entry by looking at the wrong chart. I lost 6% on the entry. Too bad this could have been a record high score. This is what it looked like when I took the trade: 1min Chart 5min Chart What I did good today: Traded a reversal. How did I challenge myself today? Traded in the premarket. What I did bad today: Very late entry due to looking at the wrong chart, then managed the whole trade when still looking at the wrong chart. What can I do better tomorrow: Two days in a row I made the mistake by not looking at both time frames. I just got lucky today that it did not make much of a difference.
  2. 2 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.
  3. 2 points
    08.May.19 Today is another red day. I was watching lot of stocks, especially this being an Earnings season. I had apprx 15 stocks, out of which I picked 4 to watch at the Open. $EA, $NVDA, $AMD, $LYFT. I think all of them traded decently and lot of traders in the chatroom traded these stocks very well. I didn't. I am still under PDT rule. So 3 trades per week. Today I had one trade limit for the day (I can trade the other 2 only tomorrow). I didn't have good sleep. Also there is construction work going on near by apartment, that is very loud and annoying. It will continue for few more days, I am afraid. I was experiencing different emotions today, I was very cautious (probably over cautious) to put my one trade on the right setup. I missed the ORBU on AMD. $AMD usually moves up 40-50 Cents, today it moved up close to a dollar after the first 15 mins. I was ready for the reversal, a Hanging man appeared on 2 min followed by a shooting star (Marked below in blue arrow). Usually this is a good reversal indicator. I went Short, first target at VWAP, Stop loss 15c. The price went my way initially, but SPY was too strong today, and i got stopped out. Positives: I was Patient, my nerves are calming a little bit unlike the first 2 days Live. I watched the indicators and had a clear plan before entering I didn't partial as the price moved only 10c. Improvement: 1. I was analyzing too many stocks, I am going to cut it down to less than 10, and then 2-3 to watch finally at the open. 2. I had a mindset that today most of the stocks are going to be bearish, after doing the Premarket tech analysis. But one tweet from the president can change the emotions of the entire market. I have to be open. 3. It may sound strange but I was like, i am within my daily loss for the day, so I am going to hold onto my position, till market reaches my Stoploss (like I owe it to the market) 4. My pshychology played me out. As I had only one trade for the day, I wanted to hold on to a losing $AMD trade, although the indications were clear that I was wrong. What indications? The 5 min chart had a clear Higher Highs, I should have stopped before hitting my stoploss (check the 2nd chart), I wasn't watching 5min chart. I have a rule that if my setup isn't working then I should exit (Guerilla trading). I was holding on to my position for full 10-12 mins, with no action. I had already realized during the trade, that the price action was too far away from 9MA (1min) and so any reversal, may only be a pullback, before going up. So far, I have respected my stoploss each day. I feel that I am missing the best part of the market setup due to the PDT rule.I may have to reconsider my Funding plan.
  4. 1 point
    I contacted Alliance Traders today prior to Andrew sending a group email and received this response that may be useful for the group. I also asked if they have a method to import stock transactions into Intuit TurboTax that they answered at bottom. Today I found a company called form8949.com that has integration service for $10 with CMEG and would need to investigate a way to do same with Alliance. That's all I know but thought it worth sharing... Good day, Thank you for your interest in opening an account with Alliance Trader, as a BearBull member you will receive the following special commission and software rates: Commission à $0.99 up to 300 shares (min $0.99 per ticket) (the rate over 300 shares will be communicated shortly) Software à $120 DAS software fee, free after you make over $500 in commissions Margin à 6:1 margin (intraday), 2:1 margin (overnight) on accounts $2500 and over Margin fees: daily margin interest 10% per annum, margin call $25 and overnight short position fee 10% of the value of the position. Funding à By bank wire transfer, subject to a $30 incoming wire fee Withdrawal à By bank wire transfer, $35 for domestic and $70 for international Please use the following link to open an account: https://www.alliancetrader.com/open-an-account (for Corporate Accounts please use the joint account form and provide the required corporate documents listed on our website) Regarding taxes, your back office login will give you the access to generate reports for you to file your taxes. 7 Belmont Road Kingston 5 Jamaica, W.I. Tel: (876) 960-4321-6 Fax: (876) 960-4327 US Line: (786)-267-9745 Website: www.alliancetrader.com
  5. 1 point
    09.May.19 Today is a Green day. It is getting very difficult to choose which stocks to watch, as there are so many in the watchlist. I picked $OXY, $ROKU, $BYND and $AMD to watch. I traded $ROKU. I saw the three candle formation setup in 1min. A White (or Green) candle followed by small red candle (at the top half) followed by another white candle. When the third candle breaks the high, it is a setup for Long. I took it long and Partialed after few cents. The price was too volatile (1min candle was 2$). I didn't like how it traded, so got out immediately. Though the price didn't hit my stoploss, the price swing was too much for me. Of course, after that the price moved 10$, but I am not regretting my exit, I made my target for the day. Entry 72.2, first partial 72.8, final partial 72.54. the first candle on the 1min chart is a hammer. This is after a downward trend in the premarket. Usually this results in a bullish trend. But I was not watching the premarket closely and missed the first candle. May be I should spend the 5 mins before open watching the stocks. Good: I was watching very few stocks as planned yesterday I saw the 3 candle setup and immediately jumped in, no hesitation. I exited the trade, when I felt the price swing was too much for me. No FOMO or revenge trading. Improvement: I wanted to do better partials, but today I couldn't test this. May be even better entry.
  6. 1 point
    I did the 1 trade/day, unless it's a winner, for over a month (in March). It really helped me. It was impossible for me to let go the loss. I am a bit better now if I have a loss , but traded it well. But, like last Friday, had a loss and knew I traded poorly. I couldn't control my emotions so i was done for the day. I think it was Sunday afternoon before I regained control
  7. 1 point
    Thursday May 9th, 2019 Sleep: 7.5 hours. Mood: good, ready to trade. missed the ORBU in ROKU and the ORBD in CRON. was afraid to take CRON to short side because i was afraid of it bouncing off the PDL level so i started watching ROKU. i was waiting for a pullback and when it starting make new highs i thought i missed it and I switched back to CRON it was already too far gone. then i switched back to ROKU and saw i missed an entry! lol oh well. I ended up trying to take a double bottom twice in CRON. the first time i knew i was chasing it, i wanted to get in at around $14.06 daily level but i was getting the FOMO and I just kept thinking if i don't get in i'm gonna miss the push higher. it did what i thought it was going to do and came right down to my initial entry, stopping me out on the way. I know the first step in stopping problem patterns is recognizing them in the moment and i've got much better at that. now i just need to progress that in to stopping me from taking the trades too early. GOOD: got out at stop RFI: FOMO chasing MOOD: fine, logically i knew that was going to happen. CONSISTENT: yes, got out at planned stop. Tried the trade again at $14.10 but got stopped out again. i risked the LOTD and that caused my 2R to be VWAP which it wasn't strong enough to hit and it just stopped me out below the LOTD before moving higher. hindsight being 20/20 i could have got in at $14, risked the LOTD to $14.25 and had one good trade for the day. GOOD: got out at stop RFI: R/R too wide. MOOD: dissapointed but ok CONSISTENT: yes, got out as planned. per my rules that is it for the day. only allowed one trade tomorrow unless it is a winner. Fairly bad day of trading for me but my emotions are much better than yesterday. I chase my entries then get stopped out then journal about not chasing entries and then chase entries and get stopped out! LOL i feel like i'm going crazy sometimes. I'm just going to be patient and keep trying my best every day and slowly i'll get it. What i did good today: stuck to my stops and my rules What i did bad today: Let fear rule my decision making, stopping me from trying ORBs and chasing entries. What can i do better tomorrow: don't FOMO entries you know are going to end up getting stopped out.
  8. 1 point
    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
  9. 1 point
    Thanks Fader for this!
  10. 1 point
    Thanks Andrew for all your help and advice..I am finally starting to take it.This com munity rocks Ive tried a few and this is by far the best value..
  11. 1 point
    I'm going through the same patterns/emotions too. Keep at it, Mark.
  12. 1 point
    Joined BBT and have changed to use DAS trader for my day trading to be able to make more trades, specially in the open which was impossible on ToS. This is a community where you can learn from other traders and moderators to improve your trading.
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  14. 1 point
    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!
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  20. 1 point
    I have been trading with Andrew for over 1 and half year now. The best thing I like this community is the help and education from each other. People here are just sharing the most honest opinions and hard learning experience to help new traders. I have learned a lot from you guys. So, a big thanks for Andrew, and other members, Robert, Carlos, Brian, Norm, William, etc. I did not trade with my current setup at very beginning. I gradually upgrade to what I have today. I have four trading monitors, two are wide screen, which I actually learn from Robert's setup. I have 9 montage, but one montage is mainly for switching back and forth based on Trade Ideas' alert. I mainly trade on my other 8 montages. I have another IMAC to watch the chat room and Benzinga news. My next step is to buy one or two more screens for my current PC, so that I can run everything on one computer.
  21. 1 point
    I joined the BBT community late last year, and it has made my journey to becoming a trader much more meaningful. Learning to day trade is proving to be a daunting undertaking-- a roller coaster ride that leaves me bruised and scathed along the way. BBT has been a source of support and inspiration when I needed it most. Andrew is a breath of fresh air compared to other trading "gurus". He is more than a mentor- he is a "long-distance friend" whom you can joke around with while he doles out invaluable knowledge and experience. The culture he has built around BBT is one of respect and support. I have often felt encouraged rather than intimidated during chats. It is truly a joy plugging in to BBT everyday, and I'm proud to be a member of this community. Edit: I'm Mark A on the chatroom Current Setup: Desk: Ikea Linmon 59"x30" table top, VIVO Electric Stand Up Desk Frame Workstation Monitor: LG 27" 4k, LG 34" Ultrawide 2k, VIVO Dual Monitor Desk Stand Free-standing LCD mount Desktop: Dell XPS 8930 Special Edition Intel i7-8700K CPU 3.70GHz NVIDIA GeForce GTX 1080 8GB 64GB DDR4 Memory at 2666MHz 512GB PCIe M.2 NVMe Solid State Drive 2TB SATA Hard Drive Hotkey: Elgato Stream Deck 15 customizable LCD Keys UPS: CyberPower 1500 VA 900 Watts 12 Outlet UPS
  22. 1 point
    I have been following Andrews daily recaps for a long time, read his books and finally ended up joining his community ... I am a the newbie around here and feel that this is where I belong. Trading is much much more than the P&L at the end of the day !
  23. 1 point
    I have been playing around with my sell/cover hotkeys to see which exit strategy fits my trading style best. I tried exiting in halves (position *0.5), thirds, and quarters. Here is a graph which compares each option and how many shares you have remaining after each press of the hotkey. For example, exiting in halves leaves 50% after the first press, 25% after the second press, 12.5% after the third, and so on. I settled with thirds as I have a tendency to exit my winners too early. Pressing the hotkey twice still leaves me with 45% of the original position. What percentage are others scaling out with?
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