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Showing content with the highest reputation on 07/15/2019 in Posts
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3 pointsMonday July 15th, 2019 Sleep: 7.5 hours, Mood: good ready to trade. Too busy with work this morning. didn't get a chance to go through my watchlist and mark levels before the market opened. i didn't see anything i loved but i ended up taking a trade in $C. I was not thrilled about the hammer on the 5min at 9:35 but i did like the rejection of the previous- previous day low and the indecision on the next candle. so i got in short risking a new 5min high and hoping it would break the day low. it moved in my favor about 40 cents but then it found support at 70.50 and i got out before my stop at a new 5min high. it looked to me like the volume was coming in on the buy side and no momentum to the short side. It was a good decision to get out, i would have been stopped out anyway. hindsight, i could have used the 9:35 hammer as a signal to get a long entry and then got in on the long side where i got out of my short position on a new 5min high. GOOD: waited for a new 5min low to get in, positioned appropriately RFI: should have played this as a long. MOOD: fine CONSISTENT: yes. What i did good today: saw i was in a losing trade and limited my losses. What i did bad today: saw that 9:35 hammer and still went short hoping it would still break the LOTD. what i should have done was waited for a new 5min high to get in on the long side because of that candle and played this as a double bottom. What can i do better tomorrow: don't hope for trades to work. use all the information available and make the best decision. Other comments for tomorrow: can't trade tomorrow and Wednesday is iffy/i'll be rushed if i do have time to trade. frustrated i haven't had a full week of trading in a long time.
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3 pointsAs I am working my profit taking methodology, I decided to log all of my trades for 2019 and see where they ended up on a scatter plot. I take my share size based on $ risk per trade, so the R variable is the same throughout. The first 9 trades are the outliers as they were fixed share sizes, but I think it is still valuable to include. The goal now is to keep the losers in close proximity to where they are now, but increase the distance from 0 for my winners. I.e. get the winners to be closer to the 2R line instead of consolidated between 0 and 1R. I think I have come up with a method, but we will see at the completion of the month. Due to work I am only going to be able to trade tomorrow and possibly on Friday if all goes well. I will be back the following week though. Safe trading to everyone.
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2 points15.Jul.19 - Live Trade (I have fully funded my account and lifted the PDT rule). Rules: Risk per trade - R Maxloss - 3R Profit Target - 6R I stop for the day once I have 3 Losing Trades. Max Loss day - 4 Trades today. 2 Losing and 2 Break-even. Watchlist: I had $MU, $TEVA, $NVDA, $TWTR and $CAPR on the watchlist. Added $X later. Was watching $MU and $NVDA at the open. $MU, I noted Double Top, so was Short biased. Wanted to take short below $44.89 $NVDA - noted Shooting star on daily, was Short biased. $TEVA - daily below all the tech levels, was Short biased. Harmonious $X, $TWTR - Harmonious $CAPR - Gapped up premarket, candidate for Fallen angel setup. Trade1: $X. It was William's Harmonious chart, above all MAs. Took it long after the price popped above VWAP and open above. Price turned and I got stopped out. Also noted the shooting star forming on 2 min after my entry. Price was choppy thru out the day. Trade 2: $AMD. 2 Trades. Was bullish at the premarket. Bounced off 200MA-1min. Could have taken this entry. waited for the price to offer pullback near VWAP. Took it long, but got stopped out. Only 7c stop, below VWAP and 9MA. Got in again, after price bounced off 50MA on 1min. Took some partials, and then got stopped out again to the penny. Price moved close to 20R, after I got stopped out. Trade 3: $TWTR. $TWTR was bullish along with $MSFT at the open. Again waited for the price to pullback to VWAP, Took an entry after it opened above VWAP. Gave it good stop, put in a Range order, got stopped out again. Good: Premarket analysis was good and worked out mostly. I didn't chase the entry for Fallen angel setup on $CAPR. Chasing was my mistake last week. Improvement: I was rushing thru my trades today, I took all 4 trades within 30-40 mins, as I had to take care of some work later. I need to be patient. Today was a day of FOMO for me. I was fliping thru stocks so quickly that I keep missing all the good moves. $MU had a shooting star on 5min, I missed it. $TEVA was dumping at the open. $CAPR had a very good Fallen angel setup. Missed it too. All these I had planned during premarket, but missed it at the open. Need to evaluate if I am keeping my Stop too close, I got stopped out to the Penny atleast 2 times. Usually VWAP is my level. But now, the price seems to come down to 9/20MA before bouncing off. Need to re-evaluate. Because of getting stopped out, I missed the Big move on $AMD, could have been one and done today. I should have traded my main watchlist $MU, $TEVA & $NVDA. I moved away from it.
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2 points15/7/19 spent the morning moving my trading station to somewhere more comfortable and eager to get into it today aaaand that was awful Trade 1 and 2: went for a 5 min ORB NVDA once volume started increasing, got stopped out below VWAP. Saw volume increasing in the other direction, got stopped out again above VWAP. Trade 3: saw volume increasing after a bounce off VWAP and this time i was right and got some good profit, almost back to break even. Trade 4: This was a stupid trade was hoping for a continuation but had a crappy entry, very frustrated by this point so then got in again for a reversal and stopped out AGAIN.. Trade 6: tried to get into NVDA again for a bounce off the 20 EMA, got stopped out. Trade 7: Tried AGAIN once it came back... got stopped out and took a reversal without any moving average crosses, and got stopped out AGAIN. Really really terrible day, was 1 for 9 and my worse loss yet. gonna go away and come back and try to look for some proper set ups. took 2 more trades on NVDA, first a moving average trade, then took the reversal after the double bottom formed, making profit on both, slightly reducing my losses for the day but still a really bad day. lots to work on tomorrow
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2 pointsMonday 7/15/2019 I had a well-being score of 6/10 this morning (had a headache). My nerves were a little negative. Probably due to trading full shares today (first time in two weeks). I took one live trade today with MU. I also took two SIM trades, a 5min ORB and a 15min ORB. Both SIM trades were stopped out. I am only journaling the live trade. According to back test data I was expecting MU, FB and AAPL to be in play. FB looked better in the premarket so I made MU and FB my two focuses at the open. I was short bias on FB but had no bias on MU. As usual I was creating my mental opening scenarios. But I was uncomfortable trading FB to the upside at the open. MU dropped and bounced off the 44.63 daily level and I went long a little before the break of the 44.79 level. I didn’t wait for the break since I saw a big ask. . I didn’t have a set R/R because I had no levels after the 44.88 daily level and MU doesn’t usually respect dollar levels much anymore. My S/O was the 200MA-1min. I took my first partial at the 44.88 daily level, then I had no more levels so I partialled with the only aim that my 4th partial would be at 2R. Which it was. I finally exited when the price dropped below VWAP. I also saw the largest ask I can remember during this trade. Score card for my live trade. MU 92% What I did good today: Took a good setup, even though it was very close to the open. How did I challenge myself today? Swapped out AAPL for FB to focus on at the open. That took some resolve. What I did bad today: I can’t remember the last time I wasn’t stopped out on any trade besides the 1min/2min ORB. SIM or Live. I definitely have only one play in my playbook. What can I do better tomorrow: Keep working on the other setups.
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2 pointsLive trading summary for week ending 7/12/19. Traded half share size all week as I slowly get myself back up to speed after a painful 3 days of terrible trading at the end of June. So first week of July I traded SIM only, then this week at half shares. Next week I will trade at $25 risk per trade. My score card for the week was OK at 86% and win% was also OK at 56%. I was green for the week, which always helps my mood going into the weekend. I analyzed my last 50 live trades to determine a new method of taking partial profits. I was surprised by the data. I was assuming the data would show that I should use range limit orders or I should decrease the size of my first partial. But, it actually said the opposite. I only have a 22% success rate of reaching my target. It seems that my targets look reachable, so it is probably my setups/time frame I trade in. But, this means taking partial profit is vital. 29% of all my 1min/2min ORBs reach my first partial price and retrace to get stopped out. Thus, the first partial profit is vital and I should not change it. But, there always seems to be at least one (if not two) extra partials on the way to the target. Those are the ones I need to work on. I will start to make an effort to reach my target with in 4 partials (it usually takes 5). I may try and use a limit order on the 4th partial. I traded almost entirely MU and AAPL this week. There was only one other stock (BABA) where I unsuccessfully tried a 10min ORB. There were a couple of SIM trades trying other time frame ORBs. All were unsuccessful. Back test data shows nothing looks very in play at the open for next week. Though MU, AAPL still look OK. JD was not in play last week so it’s removed from the watch list. FB was definitely in play last week, though the previous two weeks it was not. So I will plan the two primary focuses each day based on premarket data. Here is my plan for this week: Concentrate on process and score card, not on W% and P/L AAPL is in play at the open again. So is FB. Decide by premarket which should be higher focused. JD had a poor week. Assume it is no longer in play at the open. AMD is no longer in play for the 2min ORB. Do not focus on it at the open. MU is in play at the open, make it your primary focus for the week. Go back to full share size next week, $25 risk per trade.
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1 pointI'm from the UK and joined BBT about 2 weeks ago after reading Andrews 2 books and have been sim trading since, mainly had red days due to overtrading and not taking proper set ups, I've since worked on this and am currently on a 2 day green streak. People have spoken about the importance of keeping a journal so I'm giving it a go. At the moment it will just be a record of my trades and and some notes about why i took it, the plan, entries, exits and how i thought it went but may add some more detail to it if necessary, especially once I go live. I typically take buy/sell in 100 shares with the aim to enter trades with a maximum loss of $10, so risking 10c, but will take less shares if the risk is clearly higher. I try to practise a variety of setups but always have my main focus on volume price action. So here goes. 3/7/19 Mood is pretty good, feeling nervous to try to keep my streak alive, as well as knowing I'll be posting the results online.. Things to work on today: Only taking proper setups that are verified by volume, and waiting for a good entry with a focus on not chasing and then getting stopped out on a pullback. trade 1: 5 min orb on BUD, momentum seemed to be bearish, after the pullback, volume was gaining as price decreased so i entered. entry was decent on a slight pullback, waited for at least 1 R before my first partial. shouldve got all out earlier but was convinced it was going to be a false breakout so kept my original stop loss and lost most my money gained. Trade 2: MA trend on NVDA, in hindsight I should know this is a bad time for this strategy so shouldnt have taken this. even so entry was OK not great but i took half shares, got one partial before i stopped out. not good MA trend on AMRN: already held the 50 on the 1 min and bounced right back, so my entry was good i think. took a partial slightly early as i got nervous followed by a hotkey mistake before i went all out. starting to get a bit frustrated but was only slightly red so still okay. trade 4: reversal on FB, saw a double top had formed at an even 197, so took this trade early before any moving average crosses to minimise my risk with stop above the top. think i shouldve waited for the cross and didnt stick to my stoploss so lost a fair bit on this. trade 5: VWAP false breakout, saw it broke above VWAP twice and formed a double top at 2 resistance levels. my entry wasnt good, almost got stopped out because i thought it was about to run. waited a good amount before i started partialling and eventually got stopped out with a good profit. Trade 6: MA trend, stock bounced off the 50 on the 1 min chart with increasing volume so got it, entry was OK for stop losing the 50. tried to take a partial at 1R and ended up buying more... almost got stopped out then another hotkey mistake. luckily once PCL broke the stock ran so i made a nice profit. definitely time to stop after this since i was making stupid mistakes. overall almost hit my target but stayed in the green... did brake rules though. going to set physical stop losses for reversals to minimise losses. still need to work on entries and thinking about is this a good setup.
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1 pointHey Phoenix, I am planning a Phoenix meetup for the evening of Friday August 2nd!! I am suggesting Culinary Dropout as the location because it is centrally located and a really fun place. https://www.culinarydropout.com/locations/phoenix-az/ Location and time are flexible at this point, so please reply to this post if you are interested. Please include your preference on time (I am thinking around 6 or 7) and if the location works for you. If you have any other suggestions for location, please include that info as well. We might have one or two BBT moderators join us as well. Happy Sunday all, Michelle
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1 pointPrime Day sale - $99 for the 15 key https://smile.amazon.com/Elgato-Stream-Deck-Controller-Customizable/dp/B06XKNZT1P/ref=sr_1_1?crid=3U031FJNIZCTR&keywords=nas%2Bplex%2Btranscoding&qid=1563228004&s=gateway&smid=ATVPDKIKX0DER&sprefix=nas%2Bplex%2Caps%2C181&sr=8-1&th=1
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1 pointI with you on that this past month has been terrible for me. It is the summer, I not suppose to be this busy.
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1 pointI feel you on the $AMD Trade today. Got stopped out too before the big move.
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1 pointJuly 15, 2019 - $AMD (Stopped Out) $AMD today just wanted to play with me. I got a good entry, held through a couple of pullbacks and then it finally lost VWAP, moving averages, and a support level so I got out a few cents above my planned stop loss. I would have gotten stopped out regardless. Then of course it took off to the 52 week high and never looked back. I was pretty frustrated after the trade. I think it was the accumulation of last week and knowing that I won’t be able to trade the rest of the week. I really just wanted a good trade to work out today. I got half of that. I took a good trade, executed it well, and managed the profit taking appropriately. Only part I did not like was the outcome, I think if it had continue downward instead of popping back up I would have not been as frustrated. Anyways after that trade, I looked at the P/L so I was done for the day trading live. I decided to trade sim. Did not go well in the morning, but after a run and a couple of stabs at a moving average cross over I got one to work for me. Still a lot of work to do on this strategy before I can trade it live though. A good productive day on advancing my psychology and dealing with a losing trade when I truly wanted a winner. Sample Set Results, P E E E P E P P S S 11 12 13 14 15 16 17 18 19 20
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1 pointYes, I tried Shift+Esc and Esc. I think it had to do with the update CMEG had to their trading platform. I keep "Day" in my montage only now.
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1 pointWas the Panic key Shift+Esc? It's scary if the Panic key didn't work, that's what I rely on in case if something goes awefully wrong. I thought PANIC key closes all the positions irrespective of the Montage or DAS settings. Looks like that's not the case. It's great that you were calm enough to figure out the issue and sort it out. Also, I have Day+ on my Montage all the time and it works.
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1 pointThank you so much for leading this Michelle and that restaurant looks amazing! How can I not come out to visit? I will officially be attending and so excited to meet our Arizona based members. Never been to Arizona before @Greg D I will be sure to wear some Duck gear so there is no confusion William ADog
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1 pointThanks for taking the time Abiel, I see with SpeedTrader that it all depends on the expected number of trades per month... To get $2.95 rate I'd need to make about 25 trades per trading day but their $3.95 reduces that to 10 trades per day which could be more feasible. Lots to think about!
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1 pointWeek 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)
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1 point12/7/19 didn't sleep well last night so feeling a bit rough and anxious for some reason. Feel like i'm going to make mistakes today so going to try extra hard to only take proper set ups. Trade 1: 5 min ORB on NVDA - first 5 min looked bullish with alternating high vol large white candles and small low vol red candles. almost got a perfect entry but the price moved as i went long. took partials along the way but was patient with my final exit for a huge profit. definitely my best trade yet. just because its friday and i doubled my target in 1 trade im gonna call it a day. Feeling good
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1 pointJuly 11, 2019 I am emotionally drain after today. The last time I felt this helpless an unable to control something was in a very different kind of environment. I am so glad I was able to breath and start problem solving my way through it. Well I hope you enjoy the read. I tried to take a long on $AMD around 9:41 mark. My plan was a little different today with $AMD as I figured it would sell off at the open pullback to VWAP and if it broke above would test it again and then try to test the 52 week high if it could break through 34. I got a send reject order similar to yesterday. No big deal figured my hotkeys didn’t save, so I went into the setup saw I was correct and changed my entry hotkeys like I did yesterday. At 9:45 candle I entered just below the 34. Extended from where I wanted to enter but I was willing to risk the money just to make sure my hotkeys worked in my live account. When it could not break the 34 level and drop below the 50 SMA I hit my hotkey to sell all and that is when all heck broke loose. My cover button that worked in sim yesterday did not work in the live account. I hit my panic button, rejected I opened my trade section in the montage and hit the sell button, rejected At this point the stock is dropping, I have no idea how to get out of the position and I felt absolutely helpless. Stock was past my stop loss, I could not get out and the only feeling of comfort was that I had the risk controls that would limit my loss on the day, which would have been triggered if I didn’t figure it out. At this point, I just took a breath and went into problem solving mode. I knew I had a problem and the only thing I could do is take it one step at a time. I identified that the issue yesterday was the “DAY+” had to be changed to “DAY”. I than realized that on the montage it had “DAY+” instead of “DAY”, so I changed the montage and hit the sell button. Finally, order filled below stop loss but still manageable. Problem was that I did not change the order template to “DAY” so all of my hotkeys that process through the montage were being rejected. Well at least I learned that lesson today. A tough lesson but still valuable.
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1 point10/7/19 Didn't trade on Friday, Monday or Tuesday because I was at a music festival but now I'm back and just about recovered-ish. I feel like I've had a fairly long break and not feeling 100% so going to try to take it a bit slower today. Trade 1: 5 min ORB ROKU - seemed very strong at the open with very bullish volume, took some profit at 1 R, then stopped out below VWAP. Trade 2: kinda ABCD/trend trade NVDA - saw a pullback with low volume on the 1 min and seemed to have support at a daily level. Trade 3: ABCD on MU: shouldn't have taken this trade, the volume on the pullbacks suggested a reversal but i stayed in it and took some profit before being stopped out. Trade 4: Reversal NVDA - Saw a very high volume bearish candle after some resistance at 162ish so put stop above the 9, almost got stopped out but waited to see if it lost the 9. target was VWAP and took profit along the way. Trade 5: ABCD NVDA - looked like it round some support at 160, got in on a low volume pullback with stop below 160, took some profit at vwap and the 50 but started to lose faith when the volume started increasing with the bears so got out at break even. overall I doubled my target, maybe I should've stopped after I hit it, but I was feeling good and generally was obeying my rules and trading well... I think.
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1 pointHi guys! I finally got my trading station ready! First of all I really want to thank everyone posted here, I read every comment, every detail and everything you posted, in conclusion I could build my own trading station! I actually lost all my trading capital building the station and hopefully becoming a life time member, but after thinking about it and reading @Andrew Aziz book I learned that it's an investion I've to do in order to become a successful trader. First lose money! Then make it :D, I'll be in simulator until I save money for trading So, let's go to the details! 1)Graphic card ASUS GeForce GTX 1080 8GB ROG STRIX Graphics Card (STRIX-GTX1080-A8G-GAMING) I wanted to buy the MSI Gtx 1080 gaming 8 x8gb but it wasn't available in my country, so I went with this 2)Mother board GIGABYTE H370 AORUS Gaming 3 WIFI (LGA1151/Intel/USB3.1 Gen 2 Type A,Type C/HDMI/M.2/ATX/DDR4/Motherboard) 3)Ram CORSAIR VENGEANCE LED 16GB (2x8GB) DDR4 2666MHz C16 Desktop Memory - White LED 4)CPU Corsair CX Series 750 Watt (2017) 80 Plus Bronze Certified Non-Modular Power Supply (CP-9020123-NA)I actually got 100w, but couldn't find it in amazon, you actually don't need 1000w, 750 is more than enough! I think even 650 will work, but I couldn't find 750 in my country as well 5) Cooler ARCTIC Freezer 33 eSports ONE - Tower CPU Cooler with 120 mm PWM Processor Fan for Intel and AMD Sockets - for CPUs up to 200 Watts TDP - Silent and Efficient (White) 6)Processor Intel BX80684I78700 8th Gen Core i7-8700 Processor 7)SSD, ADATA SU800 256GB 3D-NAND 2.5 Inch SATA III High Speed Read & Write up to 560MB/s & 520MB/s Solid State Drive (ASU800SS-256GT-C) 8)Hard disk 2tb WD Blue 2TB Desktop Hard Disk Drive - SATA 6 Gb/s 64MB Cache 3.5 Inch - WD20EZRZ you'll need an ATX box I believe but it depends on your style :DD With the box this whole setup cost me 1450$ from a local store, I also have 4 philips monitors 24 inch each cost 100$+ a cheap desk xD 60$, gaming mouse and keyboards because I love games, both cost 80$, and a stand for 6 monitors which cost 120$, 3 hdmi cabels, 1 adapted from vga to display port, another from hdmi to display port. I believe that's all!
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1 pointThere are a lot of great trading setups!! Too many to reply to all individually, so nice work everyone! It is interesting to see what everyone is trading with. I built my station similar to Andrew's. I have six 23 inch ASUS monitors on the Vivo Hex LCD Monitor Stand ($104). I got a standing desk from Evodesk (about $700 great company, I love this desk and the ability to stand and sit with a push of a button.) Below are the specs, prices (at the time I bought it), and amazon link incase anyone is interested in building their own machine: Motherboard: MSI Arsenal Gaming Intel Z270M ($118) Processor: Intel i7-7700K 4.2 GHz ($329) Processor Fan: Cooler Master Vortex Plus ($29) Ram: Crucial 16GB Single DDR4 2400 ($149) Memory: Samsun 960 Pro Series - 512GB M.2 Internal SSD ($289) Graphics Card: PNY NVIDIA Quadro K1200 ($302 - installed 2 support 6 monitors) Operating System: Microsoft Windows 10 Pro 64-bit ($125) Power Supply: Corsair CX Series 450 Watt. ($47) Case: Rosewill Micro ATX ($20, this case is small gave me a bit of challenge getting everything installed.) Optical Drive: Asus 24x DVD-RW ($21) Carlos M. Skype ID: c_moreta (Feel free reach out to me at any time via Skype)
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1 pointHere is my current setup. Though not built intentionally for day trading, it's getting the job done. PC - Wonderful little computer for productivity, media consumption, and even light gaming. The machine is barely audible from 2 feet away with the silent Noctua fan. It literally fits in the palm of my hand. ASRock DeskMini (Barebones) Intel i7-7700 Integrated Intel HD630 Graphics (no video card!) 32GB DDR4 RAM Samsung 960 EVO M.2 250GB NVME Drive Crucial MX300 525GB SATA SSD 1TB Samsung Hard Drive Noctua NH9-Li CPU Cooler All that performance is crammed into a package that is smaller than Andrew's book! Monitors - Two ultrawides really limits the cable clutter/additional hardware required for a multiple monitor setup. However, there is some ergonomic drawback as the overall height requires quite a bit of vertical neck movement. LG 34UM88-P 34" Flat Ultrawide (top) LG 34UC88 34" Curved Ultrawide (bottom) Mounted to a Vivo STAND-V002T Dual Monitor Vertical Desk Mount Desktop/DAS Layout - I am able to fit 10 montages in DAS which includes: 8 x Stations with 5 min chart, L2, Time/Sales 2 x Stations with 1 min chart, 5 min chart, L2 Time/Sales Central "hub" showing Market Time, Top List, Open Positions, Open Orders, Watch List, Windows Calculator Bear Bull Traders Chat and Andrew's Trade Idea Scanner Most of the time I am watching 5-6 stocks and just keep some low floats up top to avoid any FOMO! Keyboard - MechanicalEagle Z88 RGB Backlit. Fully customizable down to each individual key colour. I use green for long hotkeys, and red for short. Desk - Ikea Malm White Chair - Vertagear S-Line SL2000. Very comfortable for extended sitting. Includes a lumbar cushion and neck/head pillow. I may consider getting a standing desk in the future. Miscellaneous Glorious Extended Gaming Mouse Mat - keeps the white desk nice and clean ALED LIGHT 5050 LED Strip for ambient backlighting behind desk/screens Let me know what you guys think!