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Showing content with the highest reputation on 06/11/2019 in Posts

  1. 3 points
    I have been a member of several chat rooms including a previous tour with this chat group prior to the name change. I left this group originally because I was a new trader and found Andrew's style was not working for me (My issues, not Andrew's). I had read Andrew's first book and was drawn to day trading but was not finding success with the opening range type plays. At the time, I was still uncertain about my preferred style and markets. I had my journey through the wilderness, and eventually started to become more consistent, utilizing both swing and day trades. I started watching BearBull Trader videos on YouTube again, and found a lot of content that resonated with me and so I decided to join up again. While I still trade opening ABCD and ORB type patterns, I have a preference for reversal/reversion patterns. For myself, the most beneficial parts of the membership are: 1. Educational content: The educational content on YouTube was a big reason why I decided to join the group again. I was impressed by how the contributor list had grown since I first tried the group, and the contributors were knowledgeable and professional. I especially like the emphasis on building your own style and paying close attention to risk management. Also, shout out to Robert H and his rants series. Very well done and something that all newer traders should watch. 2. Pre-Market Analysis: The current pre-market show is excellent, and I like that it starts an hour before the open. Too many rooms only start in the last half hour, and that makes everything feel more rushed. I build my own lists as I am listening, and then compare my list with the presenters. 3. Real-Time Pattern Alerts: While I do not follow trades that others will call out, I do try to listen as the presenter calls out indications that stock XYZ is starting to set-up in a particular pattern. This allows me time to investigate for myself. 4. Forums: I think there is a lot to gain by having structured forums for traders to ask categorized questions, rather than expecting the questions to be answered in chat. A lot of rooms do not have forums (or they are under utilized). I was happy to see the BearBull forums are getting used. 5. It is rare to find a room where members are so encouraged to engage and instruct. I have only been a member for a short time, but find the recaps and educational content presented by other members to be very good. It is great to hear about their personal journey's, styles, and strategies. I think BearBull Traders is doing a great job of building community. Many groups try to incorporate more markets (e.g. futures and options) and trading styles to the mix in order to gain members, but I would not personally advocate for that. I like that the group has a shared focus and find that groups which try to serve to many trading styles often do not serve any of them very well.
  2. 3 points
    This topic gives an opportunity to share our experiences or may be even expectations for any new additions to be considered for trade room. Waiting to read more on this! As I have not been with any other trading communities before, so I can't compare. Can share my experience with BBT Trade Room, though it’s been only 2 months with BBT-Lifetime in my 3 months of day trading experience which started by reading Andrew's both the books(these are not just words in the air as we hear it a lot) I started trading LIVE directly by just reading those books alone, applying the strategies explained and observing the patterns. Not going for any other day trading books till I expertise in those strategies and techniques explained in those books. Consistency is very important for me as I am planning to extend day trading for living. Andrew always say- you don’t need to know each and every strategy, where there are hundreds or thousands of those (which may take full life time to experiment and gain expertise in all those, so no more time left for living lol). Once you find the strategies you understand well (as it differs from person to person, depending on their analytical background) and feel comfortable applying those successfully on a smaller share size and later increase as you build your psychology. Later you may try new strategies or trading approaches etc… Trade Room- I feel it is in a very structured manner based on how the day trading flows in a day and meet everyone’s trading related needs and support. I personally felt overwhelming the first month after joining BBT with all the information, different trading styles etc….Just finding your spot is all needed. Below is how I look at the structure which starts with: Carlo's Pre-Market Show- Finding range of stocks that are gaped up/down and are in play for that day and setting up support/resistance levels and quick news highlights. With the range of stocks starting from low, mid to higher price range to support all different levels of groups in the community. Andrew’s Golden Hour Show- With all his positive energy and his quick trades sharing live and being open to share his P/L(result of the process he goes thru), wakes up everyone in the AM.( Caffeine free lol..) Norm's Golf Trading Show- With his high price stock trading style, supporting those groups is amazing. Peter's Mid-Day Show- As he balances between mid to higher price range with mid-day reversal strategies till closing of the market, which supports those groups is fascinating. Brian's Swing Trades Discussion on Mondays- With his great knowledge and experience on trading, It not only supports ST group, also gives others a perspective of general understanding on stocks from different sectors play with variations and etc… William's Trade reviews (everyone’s favorite) and Robert’s outstanding support with his type of trends/wedges strategies and his support on DAS platform thru the forums is amazing. Besides all those the member’s sharing trade reviews on YouTube are great learning. Outside of the day trading there could be more to explore/expand on Swing, Options puts/calls etc…which is beyond the scope of my knowledge.
  3. 2 points
    Thank you! Please go here for team highlights.
  4. 2 points
    Tuesday June 11th, 2019 sleep: 7 hours. mood: good, ready to trade. I didn't see any ORBDs i liked and i thought the price action was pretty choppy this morning but that may just be due to me not trading for a couple days. I wanted to go long on AMD when i saw it was respecting the 200MA on the 15min chart but i stopped myself because that's not one of my setups and i waited for a double bottom. i got in right at the PPDH and at the time of entry i wasn't happy with my position size because i wanted my stop loss to be the LOTD but the trade did not give me any trouble. i put in my range order for a stop below the PPDH and 3R and got filled at my profit target. happy with this trade. GOOD: waited for my setup. good entry. RFI: position size too big. could have got 4R on the trade. MOOD: good. CONSISTENT: yes. i didn't see any other trades i liked so I called it quits. i want to take another trade to make my daily goal but i don't want to take a trade just to hit a number and it not be a good setup. What i did good today: took only good setups. What i did bad today: stopped trading on fear of losing profits from my first trade. What can i do better tomorrow: keep trading if there are good setups.
  5. 2 points
    So many answers above have me nodding my head in agreement. The highlight of BBT to me is different styles of trading through the moderators. I love the "interactive radio" piece of each day via chat. I can just listen; I can choose to comment if I have the time. One suggestion I have (and hey, you may already have it!) is bios of the moderators, including each one's trading style. I am mostly a swing trader, but do occasionally/accidentally day trade. I credit those happy accidents to what I'm learning here.
  6. 2 points
    10.Jun.19 - DASTrader - Best Trader I had a plan to improve my share size this week and try to find ways to improve gains. My watchlist was $AMD, $BYND, $MSFT and Lowfloat/Lowprice $PRVB, $MNKD. At the end of the day, I was green, but I didn't like the way I traded today. I was very nervous and was hoping for price to go my way looking for a setup. Trade 1&2: I took $MNKD and $AMD Premarket. I took them both Long hoping for the price to reach Premarket High. Both didn't work out. I was in $MNKD for long time hoping for it to give me the fallen angel setup to target $2. Finally I got out after almost 2 hours from the Open taking a loss. As my BP was locked in $MNKD, I could trade very limited and also didn't have time to check out on other stocks for e.g $PRVB (which traded very well today). Trades 3 & 4: Took $AMD long after bounce off from 200MA 1min. Stop 6c. Entry $33.62. Price moved quickly to $33.89 (25c @ 4:1 RR) I partialed once, then added on the pullback, but got stopped out. Instead of 4RR exit I got BE exit, because of the way I managed the trade. I should have taken more partial or get out after the 4RR. The setup always offers another Entry. I added, I never add to my position, it never works. Took another Long $AMD above 200MA on 1 min again (as the candles had long lower wicks indicating buyers in control), but got stopped out again. I was ok with Trade 4, though i got stopped out. Trades 5&6: $AMD reached $34 level (even$) and created a shooting star on 5min. There was also huge wall on Ask at the price of $34. I went short with $34.01 as Stop. Got stopped out, slippage another 5c. I fliped my position and got 2:1 RR Shooting star setup hasn't worked for me most of the times. May be a B-setup, Take lesser shares. Trades 7,8 &9: $BYND, I had 3 Long Trades at the open. Watched the price bounce off of MAs and took it long, waited the pullback and exited. Trade 8 scaled. Trade 9 was ABCD pattern on 2mins towards the HOD. $BYND was crazy strong today. From my entry $155 it moved up to $185 in 10mins. On hindsight, I could have held longer, but I am happy to get out and get in again on these volatile stocks. Entry - $155, MFE price - $185. 15RR (with 2$Stoploss). Fallen Angel setup. I took 3 separate trades within this range. Trades 10,11 &12: $BYND, Also took 3 more trades (1 Loss and 2 Winner - Long on 2 hammer setup on 2min). Good: Despite overtrading in Live and SIM, trade management was good most of the times. When they are bad, they turn out worse. Ended the day Green. Improvement: Too many trades (12) today. I would like to finish one and done, if not maxium 4-5 trades. Almost a Hulkday and felt I was going to give back all my profits till now. if the setup doesn't work GETOUT, don't hope. Don't add to the position, it doesn't seem to work for me Shooting stars are not working for me most of the times, hammer double bottom has very good success rate. Too many partials are not working. All or Nothing is working quite fine .
  7. 2 points
    Week 23 Recap Pretty good week of trading for me. Only got to trade 4 days but almost all green with the exception of my trading on Wednesday. Proud of my trading this week. · Weekly stats o 2.3 R/R (Goal: above 2.0) [Previous Week: 2.3] o 32/48 67% (Goal: above 80%) [Previous Week: 90%] o $12.10 (Goal: $250) [Previous Week: -$9.02] o 8/12 67% trades with the trend (Goal: 100%) [Previous Week: 60%] o 2/12 17% Non-optimal Entries (Goal: 0%) [Previous Week: 10%] o 3/12 25% Letting Losers Run (Goal: 0%) [Previous Week: 10%] o 3/12 25% No Setup (Goal: 0%) [Previous Week: 20%] o 4/10 40% true win percentage (Goal 45%) [Previous Week: 44%] · Highlights o First green week in like 8 weeks so that’s exciting o Good job this week taking 4R, 3R and 2R trades this week. o Great job controlling FOMO on Monday. · Ongoing things to work on o I need to be more consistent with my point convention. o Working on doing only 3R exits with no partials to make up for my 35% win percentage o Need to push myself to take more good setups when I’m trading well.
  8. 2 points
    Live trading summary for week ending 6/07/19. Weekly summary a little late due to very busy weekend. Missed one day of trading due to poor sleep. Made 7 trades this week with a solid score card average of 87.7%. Win% was 57% which is adequate. What I am most happy about is my win$/loss$ ratio is greater than 2. Which made this a very green week. Back test data (for 1min/2min ORBs) from last week shows FB still making very solid 1min/2min for 5 weeks now. AMD showed better data this week so we will still call it in play. Roku and TSLA seem to be in play now, but even with Centerpoint broker ROKU shorts are not readily available. TSLA has a very different personality I haven’t figured out yet so still in observation mode. My thoughts on Centerpoint Securities so far. I have to admit I was a little disappointed the first day when I didn’t see an “S” on the Montage for ROKU. Now there was shorts for SQ, so it is better than CMEG, so I will have to see in the next few weeks how good their shorts are. They do have a “hard to find” short process, but I use to use that with E-trade. Though very effective finding shorts, it is not useful at the open. The other concern is I was just expecting commission costs and no fees on my trades, since that is how the offer was described. Then my first trade I saw the fees cost equal to my commissions! Was quite surprised. The fees were things like SEC fees, which sure sound like regulatory fees that was supposedly wrapped up into the commission costs. I emailed them for clarification. I have not received an answer yet. Here is my plan for this week: Concentrate on process and score card, not on W% and P/L Do not trade AAPL until better data is seen. Make FB your primary focus. Vol min is 100K in the first 20sec. AMD is in play again for the 2min ORB. ROKU is in play for the 2min ORB, but I still don't have shorts so keep as a third choice. MU is not in play for 2min ORB, but it has been looking good for the 3min ORB. So keep MU in mind if you are looking for a trade in that time frame Remember to trade the 5min ORB as a 5min ORB. Trade review shows I am trading 5min ORBs with 2min ORB methodology by reflex. That won't work.
  9. 1 point
    Hello BBT Family, I've been trading now for a little under a year and must admit I've only been with Bear Bull Traders from the beginning. After reading Andrew's book I tried the room out, liked it, and never looked back. Now that I'm approaching a year. I thought it would be a fun topic to see what everyone else was looking for in a chat room when they came to Bear Bull Traders. Your experience can be from any chatroom, actually I'd really enjoy hearing about other rooms as well, however please no negative stuff. Just looking specifically for things that drew you in to a particular room. For example: One of the things that drew me to BBT was the structure of that Chat. I like that they have a premarket show, then Andrew trades the open for all the opening range traders, then other moderators with varied trading strengths come on throughout the day to help during specific time frames. So I knew I'd have activity and guidance all day. Hope you all enjoy the topic. And stay Green. Thor Young - Lifetime Member @ BBT
  10. 1 point
    The Day Trading Plan discussed in this YouTube video is now available for download here. Supplementary resources: Sample Playbook Template.
  11. 1 point
    Hi Guys, I wanted to share a hotkey command / script I got from @Robert H that I find very useful. Let me tell you a short story about my frustrations in covering a position. There were times that I'm in a stock just right at the open and it shoots super fast and in favor of my direction. Ofcourse your initial reaction is in shock for few milliseconds. And Instead of covering my LONG/SHORT position, I always end up adding half or full at your target. Imagine how stressful that was! So I've always been curious if there's a magic hotkey to cover either a LONG or SHORT position without worrying which side you are in. And believe or not, @Robert H has the answer! Not sure if some of the guys in our BBT forum has this command already but Let me share it anyways and see if we can tweak it for our favor. ROUTE=SMRTM;Share=Pos*0.5;TIF=DAY+;SEND=REVERSE (for half position Long/Short) ROUTE=SMRTM;Share=Pos;TIF=DAY+;SEND=REVERSE (for full position Long/Short) The only issue I think with this I guess is, it's set as Market order. Meaning, you can get filled at any price (blank cheque) and this is bad if you are trading non liquid stocks or stocks that has huge spreads. This is probably only suitable for smaller trade sizes or with liquid stocks that has tight spreads. If someone has an idea to convert this into a LIMIT order to Hit the Ask when you're LONG and Hit the Bid when you're SHORT that would be great! Hope you find this hotkey useful somehow. Cheers, Ryan (ryan_pdt)
  12. 1 point
    I would love to see Trade Reviews everyday instead of just 2 days a week. They are soooo helpful.
  13. 1 point
    that was... a-aaawesome!! Thanks Robert. Works beautifully!
  14. 1 point
    I will try to add something new to this thread (so many great comments): 1. Access to Benzinga, the scanners and real conversation about what we're seeing and potentially how to interpret them (thanks Carlos and Norm) 2. Fairly in-depth coverage of financial news and some suggestions about how stocks have traded in the past (thanks Norm) 3. I have read three or four books on patterns and technical analysis. I have learned more from William than everywhere else combined. 4. The videos are worth the price of admission alone. 5. There are some fundamental differences in approach to trading by the moderators. I truly appreciate and have learned from each and every one of you. 6. The ability to ask quick or in-depth questions no matter how simple or complex, and get answers. This last thing is particularly important: The absence of Bro Culture. Learning how to trade can be very stressful at times. I sincerely appreciate the commitment to inclusion and diversity. In the past, I have made the mistake of trading like Andrew while on sim. I figured out I was being influenced by his behavior, so now, while trading live, I listen to him until the bell, then I turn off the sound. When I am done trading, I turn the sound back on and catch his recap. That has made a world of difference. I still get to learn, I still get to make my own decisions, and I don't feel alone. I really appreciate being part of this group.
  15. 1 point
    Finding a chatroom/community fit is a very personal decision. Does a room match your objectives and trading style enough to spend the time there on a daily basis. For me, I was looking for and found the following in BBT: Camaraderie - Like minded, but diverse group of traders that never fails to put a smile on my face. Insight - Live trade reviews, pattern recognition, market movements, ticker/trade callouts Support - Access to educational resources and real-time question answering I found all of these elements in the BBT community and that is why I am a lifetime member, thanks to everyone for making it so.
  16. 1 point
    I have zero experience in day trading, but am desirous to learn. I started off taking online classes in order to better understand the glossary of terms and basic strategies. I read Andrews book and began poking around in the community resources - the classes, the chat rooms. Thus far the experience has been an invaluable learning experience. I would have never been able to crack the software set ups, nor been able to simulate the strategies I have read about without seeing the strategies traded in real time. If you are starting off in day trading I believe this is the right place to go. In the last three months I have learned an incredible amount.
  17. 1 point
    Hi, I look forward for Premarket show with Carlos and Norm. Brian's great insights of the market, swing ideas, and calm relaxing approach to a day trading. Andrew's knowledge, and awesome trading with a precise risk management. Peter's, William's , Robert's, Kurt's thanks for sharing knowledge and experience. I love your educational videos. I would add a chart voting for premarket watchlist!!! Thanks.
  18. 1 point
    Great questions Thor; While I have looked at other communities, I like this community because they educate us all on a daily basis as a positive note. On the other side I like BBT bc they are not trying to sell us stuff all the time. Other communities are in the sales business and are constantly trying to sell members their stuff, programs and materials. I think Andrew is an authentic person, and his support staff is also genuine! The community is constantly growing, expanding and getting better on a daily basis. In my notes, I have a section labeled: what I learned today and most days I pick up at least one new tidbit from the community. Thank you!! I am in this community to LEARN! I want to learn and become a better trader every day and I believe this community (BBT) is the best place for me to be on a daily basis. Keep up the good work.
  19. 1 point
    June 10, 2019 - $AMD (Partial) I was a little worried about the choppiness of $AMD at the open and I was a little over cautious today due to my performance last week. I had to remind myself that each trade is independent of the last trade. I entered a little late, which caused me to worry that I was chasing the stock. I should have evaluated the stock completely before exiting the trade. The indicators were on my side. I didn't have much time this weekend to work the analysis on the last sample set as I had some family commitments, but this week I will post the analysis as well as the adjustments I did for the next sample set as my entry point has changed a little. Sample Set Results, P P 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
  20. 1 point
    For me, it's not so much the chatroom and all the services they offer, but moreso, the people within it. I believe one of the most important parts of a chatroom is to have people participating who are willing to share their experiences and offer mentorship to those who are just starting/struggling. You can call out stocks to trade all day long, but unless traders understand WHY it's being called out, it doesn't really do anyone any long term favors. Sure, you can take the same trades as a more experienced trader, and you might make some money -- but making money following another does not make you a successful trader. That's one of the reasons I prefer BBT over a few other chatrooms I've been in. Andrew and Co. are not only willing, but INSIST on teaching strategies, psychology, etc. to the new/struggling traders and they almost force you to become educated. Oh, and did I mention he doesn't charge me an arm and a leg to learn from him?
  21. 1 point
    I read Andrew's book and actually meant to join Bear and Bull Traders, but I accidentally joined the bullish bears trade room. The names sounded very similar and I was so new to things that I had no idea how many trade rooms there actually were. So I rolled with it. Bullish Bears What I liked: They discussed options in real time. My only experience with options was for exams and this was different. There were several very astute, veteran, technical traders that impressed me. I learned a lot about psychology, especially because the majority of trading was focused on penny stocks. These can be a nightmare to trade but really have some powerful price action to learn from. By seeing such an extreme representation of the market, I am really able to appreciate less manipulated price action. Really nice people. I felt a lot of love and respect their. Except once- this guy blew up and went nuclear in the chat room. He was promptly removed. They always answered my specific questions and commented/discussed my market calls. I guess I was there long enough to make some good ones so a small group notices that. Small group allows for more individualized attention and you don't get lost in the flow. I respect that the group emphasized that they were not interested in orchestrating pump and dumps. (not commenting on the actual ability to make those happen). Met a trader that I brought over to BBT with me and we communicate daily. Could Be Better: I could tell the moderators wanted to discuss mu/amd/aapl/options more- but catered to their audience (largely rookie penny stock traders looking for a cheap chat room to give them an edge). So the result was, they were talking about penny stocks, but actually taking options trades on AAPL/AMD/ROKU/MU etc in their accounts. No live trading shown at all. Feels like they could maximize their gifts and teaching by expressing themselves through the trades they are really passionate about. A lot of the technical charts they were showing us were so overwhelming with so many indicators and colors. It was unreadable and I couldn't maximize it. Ultimately, the way they were teaching things beyond the basics was just not my style. I did not find the video library very useful since it kind of catered towards heavy indicator usage and crowded charts. It may be good for options or swing trading. Warrior Trading Observations. Trial of 7 days. Ross Cameron feels genuine to me and I think his story is inspiring. Lose it all down to your socks and rise up from the ashes like a Phoenix. I don't want to be disrespectful, but this is my feeling- pure pump and dump with guru leadership. At one point things were not really working out for him so he just called out a totally RANDOM (not discussed at all in premarket. 0 mention of it on any watchlists I noted) $1 stock with no prior action and a TINY float and it immediately spiked and he was like ok i made my profit. Honestly -using great speed, I think I could make money following this guy because he has such clout in moving the market, but I would never feel in control of my destiny. I am not sure I learned anything to actually use in my trading though I did not have access to their course materials. Warrior Pro costs $7000. Conclusion: Not my thing. Investors Underground I never joined the chat but I studied a lot of Nate Michaud's materials and I really appreciated the price level trading he did. It was simple and beautiful and so graceful in identifying the backside of moves. I did not join because the chat was all sorts of hectic. It was just constant comments like "PLUG is at all time highs, ww"...."DRYS out of gas, covered @4.50." Not very cohesive. Like a rough rider, let's trade whatever is moving type of feel Pricey at around 2000/year being the best value option. Bear and Bull Traders I initially joined BBT for a trial a while ago because Andrew's book left a powerful mark on the beginner me. Unfortunately (for me), I was still enamored with penny stocks so I went back to bullish bears. I Joined BBT Lifetime because: I could not find a true consistent edge in trading penny stocks (aka. I lost a bunch of cash trying). Andrew's trading is inspiring. He is genuine. He expresses when he is tired and he gets mad at himself when he over trades or gets chopped up (which is not often). Seeing/Hearing a real professional trader go through some of the same emotions that I do is reassuring and comforting. The Style of trading fits my own...and it is such that I will improve it with more screen time. There are moderators talking trade for most of the day. I can literally sit there all day and practice trading different styles and learning from various people in real time. There are trade recaps live and then posted on youtube. Moderators and people in the COMMUNITY are very helpful and receptive. So many quality individuals that are looking to share and help others succeed! Cost efficient Most people are using the same Das Trader platform. We are all speaking the same language. Hope this helps guys! I look forward to getting to know you and making consistent profits with BBT!
  22. 1 point
    Thor, we are glad you chose Bear Bull Traders! I would also like to encourage traders to give feedback on this topic. I know there are many other trading chat rooms available to all of us traders. Whether you have researched other rooms, joined for a trial period of had been members for any significant length of time, we would love to hear any insights you have so we can improve your experience here with us at Bear Bull Traders. When I was first starting out trading, I joined a couple different rooms, and found things that fit my trading personality in all the communities I found, but there were also major drawbacks from the type or securities traded, live trading support, educational content and the overall environment of the room. So again, will love to hear what you all think about this topic.
  23. 1 point
    Thanks Thor for posting it. I am keen to learn about these. Although most people probably are part of bear bull traders, but it is interesting to know what are the criteria for the best trading chat room? What are the other communities doing well that we can do better?
  24. 1 point
    After much experimentation (still ongoing!), I've settled on one main 32" monitor for scans, internet, and admin, with three 27" monitors above for charts and level 2. The hotkey pad orientation is also still evolving. A view can also add to one's composure during the trading day Andrew's book was the first piece of trading literature I read and helped me tremendously in getting through the difficult, and often painful, learning curve this pursuit requires. Besides focusing on the clear and simple strategies that many in this community share, I've benefited most from watching Andrew and the other moderators show up each day with a consistent, balanced, long-term approach to trading. Simply being reminded each day by example of how to avoid FOMO, take profits, cut losses early, and come back again tomorrow has done for my growth more than hundreds of hours of studying charts, patterns, indicators, techniques, etc.
  25. 1 point
  26. 1 point
    I've studied ABCD's extensively, analyzed charts and watched hours of live recordings of my trades. What I've discovered are three low risk entries and three high probable exits. Before trying this strategy, it is recommended that your psychology is resilient enough to add-on to a negative position. The goal of this strategy is to anticipate a developing ABCD's pattern, which happens to occur very often in the market. So that you can scale into a position that reduces risk and maximum profits at the same. Mastering this strategy will make you look like a day trading Genius! Entries: 1. Opening range breakout: Enter your first entry on a 2 or 5 minutes ORB. 2. Flag: Add to your position after a break of a flag. 3. Pullback/Retracement: This entry requires a little bit of faith and a strong boost of mental psychology to pull off because adding on the pullback is essentially adding to a negative position, so take precaution. I use these three strategies to find the bottom of a pullback which all appear to work: fibonacci retracement, reversal/engulfing pattern, and support/resistance/L2. The safer and lowest risk entry is adding on the reversal/engulfing pattern. Exits 1. Whole number: Always obey whole numbers. 2. Towards newer highs: The majority of new highs fail so why not profit into them because the stock liquidity is at its peak. 3. Counter pattern: Never hold a position if a stock is developing a strong pattern in the opposite direction. There are exception to this rule such as the stock price not violating the pullback criteria. If the stock flips from red to green, it's highly recommended that you take the lost to reduce any further damage. The goal of this strategy is to scale into your position using the three entry criteria described above. Scaling into your position reduces your risk because if the first entry fails to show continuation, your lost is only limited to that smaller position size. Upon each add, you are essentially adding to your position with confirmation of the price continuing in your direction. With the only exception of the third entry criteria which requires good psychology, practice and experience to master. The exits criteria are based on high probability locations where possible opportunities can occur to exit the trade. Study 1) AMD: First entry 2 ORB, Second entry Bull Flag. First profit take at whole number, Exit into newer highs. 5/29 Study 2) AMD (Failed ORB): Long 2 min ORB failure. Reversed Short 2 min ORB, Added on pullback, Added on flag. Exited into newer lows. 5/23 Study 3) AMD (Trading very fancy!): Added on pullback using multiple timeframes, Added on first flag failure, Added on second flag failure, Added on third flag from another timeframe. Exited into newer highs. 5/22 Study 4) AMD (Trading ABCD's with my eyes close, not recommended): 5/17 Picture 1: 2 minutes ORB using stop limit orders and price=HIGH hot key. Entered limit orders using fib retracement and support/resistance to guess the pullback before walking away. Picture 2: Violated profit taking opportunity 3 because I wasn't around to see it. Instead I entered limit orders to my profit targets before walking away again. It appears I also added near the whole number as a little revenge trade. Picture 3: Missed an add opportunity on a flag. Took profit half way up into new highs failure, and missing the profit opportunity on the way down on exit criteria 3 because I wasn't in the room. Returned a little after 10am to exit near the whole number. Picture 4: Final. Long channel trade between support and resistance. (Which is another strategy I use but I won't go into details in this discussion) From my experience, ABCD patterns have an extremely high probability of occurring in any stock. For example, AMD had ABCD patterns formed almost every single day last week. Conclusion: Please note, I don't recommend trading any stock with your eye close. Use precaution and common sense because day trading is extremely dangerous so manage your risk wisely. In fact, I trade AMD almost everyday, so I am very comfortable trading this stock. As a disclosure, I trade with my own money, and this strategy is not for everyone so your results will vary. This strategy was created after watching hours and hours of my live trading video journals and combining with other strategies. This strategy will not make you a Genius at day trading but it will increase your odds of becoming profitable and a consistently profitable trader.
  27. 1 point
    I read "How to Day Trade for a Living" over a year and a half ago, I join the chatroom while I was still reading the book. The chatroom has been an invaluable resource for learning not only good trading habits, but the psychology of trading as well. After a year of trading my husband joined me and now we trade together everyday. Thanks to the BBT community!! Michelle and Nathan
  28. 1 point
  29. 1 point
  30. 1 point
    This 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!
  31. 1 point
    Forget 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
  32. 1 point
    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!
  33. 1 point
    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.
  34. 1 point
  35. 1 point
    My elaborate setup with my new favorite movie .. based on a true story. No that's not my real setup, I use three watches. But seriously, I can't share my setup (currently building a new desk), so I thought I'd have some fun with this. I'll show myself out.
  36. 1 point
    Anthony, this is a stop for 0.10 below average cost: Share=Pos;ROUTE=STOP;StopType=Market;StopPrice=AvgCost-0.10;TIF=DAY+;SELL=SEND This is a limit for 0.10 above average cost: ROUTE=LIMIT;Price=AvgCost+0.10;Share=Pos;TIF=DAY+;SELL=Send; Please test them out in simulator to ensure they are working correctly. Andrew also made this post on how to send an automatic stop loss with your initial order.
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