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Showing content with the highest reputation on 07/14/2019 in Posts

  1. 1 point
    Hey BBT family! On Thursday (7/11) and Friday (7/12) you might have noticed on your platform some orders were routed via ARCA instead of LAMP. Even though you send the order correctly using LIMIT or MARKET as your route, the system was having some issues and caused this mistake to happen. Please review your statement with CMEG for Thursday (7//11) and Friday (7/12) to make sure everything looks correct with the route LAMP and with the new commission structure for BBT members. If you do have some orders that were transacted with ARCA and commission fee of $3.95, you can email me your [email protected] just full name and I will add you to the list of names we are sending to CMEG so they can fix the issue accordingly. You can also work with CMEG directly, and if you have already emailed them about the issue they will address. CMEG is aware of this issue and is addressing it to prevent it from happening and they are committed to adjusting all statements that were charged incorrectly. Thank you all!
  2. 1 point
    Week 28 Recap Pretty good week for me. I was right on the direction of all my trades, just need to work on sticking to my plan. · Weekly stats o 3.0 planned R/R (Goal: above 3.0) [Previous Week: 3.1] o 20/24 83% (Goal: above 80%) [Previous Week: 88%] o $21.00 (Goal: $150) [Previous Week: -$24.81] o 6/6 100% trades with the trend (Goal: 100%) [Previous Week: 0%] o 1/6 17% Non-optimal Entries (Goal: 0%) [Previous Week: 50%] o 1/6 17% Letting Losers Run (Goal: 0%) [Previous Week: 0%] o 1/6 17% No Setup (Goal: 0%) [Previous Week: 50%] o 3/6 50% true win percentage (Goal 45%) [Previous Week: 0%] · Highlights o 100% trades were in the direction of the trend o First live green week since March · Ongoing things to work on o Stick to my range orders/plan at the beginning of the trade o Get more sleep next week: minimum 7 hours per night o Realistic profit targets on bigger stop losses (2R instead of 3R)
  3. 1 point
    Just a quick update, what I've learned so far: Just finished my 5th month in sim and no improvement. In fact I feel I am getting worse over time. I know Andrew often says some people just cannot do this and I am seeing why. I have spent over 40hrs a week full time on this and have nothing to show for it. I have learned so much and could teach a course on it but cannot get it to work in the real world. Most of the time the patterns and strategies fail. It is easy to cherry pic setups after the fact but in reality I find most setups fail miserably. ORB's go the wrong way, ABC's fail, VWAP breaks are false, bull and bear flags go the wrong way. Support and resistance are non existent. For every setup that works I can find 10 that don't. The instructional videos are great but they are cherry picked stocks that the setup in question worked beautifully. Why not post a video on the 10 that failed . My wife who knows nothing about trading just picks a stock because she likes the name, goes long or short and has a better win % than me. This tells me trading may come down to dumb luck and is just gambling. You really have a 50 / 50 chance of success on each trade and patterns / setups are meaningless. Andrews style confirms this because his accuracy is only 50% or less. He jumps in and at the first sign of failing gets out and tries again and again till he gets it right. Random! He gets it to work because he takes a big size and can make good profits on a .12 cent move. For most traders this strategy will not work. Even with 1000 share position you need a .20 cent move to make it worth your time and in this market that is very difficult. It is frustrating because I do have a passion (or maybe obsession, same thing I guess) for it and would love to con't but after 5 months I would think some improvement should be evident. I have recently started intraday trend trading and having some limited success but still no better than 50 / 50 guessing. I tried a coin flipping experiment and my trading reflects the same outcome, about a 30% accuracy rate. Sorry for the long rant but I think most traders are going through the same thing and It's good to vent. Thanks everybody.
  4. 1 point
    Just a few recommendations: 1) never base your stop loss off a dollar amount (ie: a $0.10 cent move) Use technical levels (patterns, moving averages, areas of previous consolidation, high/low of previous candles, etc...). I have a saying directly related to this, which is: "TRADE TECHNICALS, NOT P&L'S." $0.10 cents as a stop trigger is arbitrary, unless it coincidentally lines up with a technical area. 2) always aim for a minimum of 2:1 reward/risk ratio. And if the risk to a technical level (as mentioned in point 1 above) is too much to stomach, then take a smaller position, or find a different trade. Again, find a technical area for your stop (not an arbitrary dollar amount), then take a position commensurate with the amount of money you're willing to risk if things don't go your way on the trade. A 2:1 reward/risk ratio only has to pan out slightly more often than 1/3 of the time for you to make money. If you've read Andrew's book, and/or studied other technical literature, you can easily be more accurate than this. I would guess that my accuracy is well above 80%. 3) stop trading all day. 90% of "day-trading" money is made from 9:30-10:00. From 09:30-09:45 there is a significant amount of opportunity, but it also comes with more risk. From 09:45-10:00ish, there is still plenty of opportunity, but less risk... From 10-11 you'll find plays worth taking, but the movement will rarely parallel the opportunity you had from 09:30-10:00. Frankly, trading between 11:00-14:00 is, in my opinion, the source of many Day-Trader's demise. It leads to overtrading, which leads to giving profits back, as well as overspending on commissions. If you insist on seeing as much action as possible (for learning and repetitions), yet being efficient in the process, trade from 09:30-11, then again from 14:00-16:00; but leave during "chop," which is the window between. And just a little nugget for ya: The best moves/pivots are at 09:45, 10:00, 11:00, 12:00, 14:00, 15:00, 15:30. 4) learn to trust yourself. I'm willing to bet that there have been MANY trades that, had you just stuck with your intuition rather than stopping out -- you would have made money (cuz you were correct on the move). You must trust yourself in this game..., and back to a previous point - a $0.10 stop is taking control (trust) away from yourself, and basing said control on arbitrary metrics (as opposed to the education/wisdom you've acquired). 5) The final point I'll make is this: the more repetitions you get in, the more comfort and wisdom you'll develop. Trading is much like everything else in life, in that the more exposure you get to it, the more repetitions you experience, and the more practice you employ -- the better your acumen will develop. Nothing in life worth anything comes easy. If you want to be a successful trader bad enough-- the only person in your way is the person you see in the mirror. Keep your head in the game, keep persevering, and you WILL develop into the Trader you want to become. Gl; STAY GREEN!
  5. 1 point
    Robert is correct. Jason, here's what you do. Log in to the IB Acct Management page. Go to Statements. To the right, you'll see Create Custom Statement. Click that. On the next page, give the statement a name (maybe Commissions and Fees). Under "period," choose Daily. Then, in the "sections" at the bottom, click Commission Details. A check will appear showing you've selected that one. It is the only one you need to select. Next, mark any of the "Section Configurations" you want. You don't have to choose any. Click "continue" at the bottom right. You'll then get to review you choices. Click "create" at the bottom right. Next page, click OK. Next you'll be taken back to the Statements page. You'll see the custom statement off to the right. Click the little arrow to the right of the statement name. It will run the statement for whatever date is in the field (in the list of fields). This report will show you the total commission as well as the breakdown of broker charges and third party charges. Hope that helps!
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