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Showing content with the highest reputation on 03/08/2020 in Posts
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2 pointsCouple thoughts: Taglines shouldn't have a negative slant in them: Don't / Mistakes / Not / etc. Taglines should be built around a prospective customer's problem and your solutions for them. Problems: "I want to make some money on the side" "I'm currently trading but not getting the results I expected" Solutions: Join a community of experts and like-minded traders Education through webinars and expert interviews Tools that will help you become more efficient (Kyle's hotkeys) --------------------------------------------------------------------------------------------------------- You can then build taglines around that: Header: Welcome to Your Trading Community Sub-header: Get access to essential Support, Education and Resources (I would put something similar like "to make yourself a consistent day trader" on the end, but I know @Andrew Aziz is understandably apprehensive about making any promises.) --------------------------------------------------------------------------------------------------------- After a short and concise header @PilotFish is right - you can then add some details: Expert moderators Dedicated psychologist Education center Meetups Weekly webinars Benzinga Trade reviews Special hotkeys Resource sharing
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2 points
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1 pointStarted day trading and learned a lot of bad habits counter trending Andrew and all of the other good mods in the room for some reason. Who knows why except in real life I tend to go against the grain so to speak. Anyway, I have spent the last two years undoing them and let me tell you what that is a pain in the butt. Recently Das gave us the replay feature and with journaling/recording trading days I have been able to better identify the good and the bad. Obviously the replay lets us go in and replay the previous day or week but I believe the best part is you can speed it up. For instance, I have been playing the whole previous week of given stocks and I discovered a few things such as time frame entries based on pre-market action, how time and sales slows down and speeds up around breakouts, and lots other things. Most importantly I don't have to spend hours correcting my bad habits because I just speed forward and see how my entries workout. Otherwise back test them quickly and stick them in the journal.
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1 pointYesterday I had an interesting discussion with a few trading buddies about planning the trades. I was baffled to learn that most of them didn't actually try to predict the move a potential stock in play could make. I always find at least 2 stocks that I like and, try to predict the move. Basically if it could turn into a nice 1-min ORB if it rejected a level or a 5-min ORB if it held above a certain level etc. Let me know how you guys plan out your trades and if it helps to release some of the stress that comes with trading. Kasper
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1 pointI'm not sure why it is doing it automatically, but in Safari in the Smart Search field you can click and hold the blue Audio button and select "Unmute Other Tab"
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1 pointIn your scenario if your stop was hit you would now be short 50 shares unfortunately. There currently isn't a way to have a stop order set that dynamically updates to your position (POS) unless you use a range order. But that means you can't have multiple profit targets set up. Just one. I know Kyle has sent in a request to DAS for this feature.
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1 pointMarch 2 -6 Here is my weekly recap. Missed last week because I had a file error and spent the weekend fixing it. Top Three Good Trends I was able to take 2 trades per day regardless of the outcome of the first trade. My goal is to get to three trades a day where I am comfortable regardless of the first two trades. My entry process was great this week. I executed smooth and confident entries on each of my trades. I had limited issues worry about whether the trade would work or not work. My risk management was good as I was able to keep my losers smaller than my winners. I was able to remain calm during the first part of the week when I had some issues with profit taking and holding trades. By the middle of the week I was able to bring myself back to normal trading comfortably. Bottom Three Bad Trends I can definitely tell this week was not one of my best week's at managing the trade. I had some major issues with discipline and patience this week that was troubling. During the trade I was not sticking to my trade plan and was taking profits too early instead of letting them go to my plan target levels. This was the root cause of my anxiety, which lead to mismanagement of the trade, followed by poor discipline. I am interested this week to know if increasing risk correlates to a small draw-down until your mind is comfortable with the new level. Most of these mistakes or errors in my profit taking and psychology I remember from when I first was trading. When I increase risk the next time, I am going to pay particular attention to this area. As the week went on I became more and more comfortable trading. Most of the mistakes were early in the week. Focus for Next Week Taking 3 trades in a day that are good setups. I do not want to trade 3 times, just to trade. Here is the plan. Enter the first trade, set limit orders, start scanning for a second trade. Enter a second trade, set limit orders, once one of the previous trades hit 1R partial, then start scanning for a third trade. Managing the emotion upon entry and executing my plan to remain calm, so that I stick to being disciplined and patient. This week I am not going to trade the first 30 minutes live. I am going to be in sim to begin testing a new pre-market level breakout strategy for my tool box. In order to do this, I will have to take a break at 9:45 and refocus my mind for live trading. I am going to have a new display setup for the open. When I switch displays that will be the time I go live.
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1 point@Mark D. good idea, thanks. After showing this to Peter Friday afternoon in chat, he pointed out that on the JPM trade I could have left my stop at BE longer instead of moving it to the 20EMA so soon, the trade was only 10 minutes long.
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1 pointi think the 20 ema on the 1min is good but maybe wait until it closes over instead of just breaking it? you would have stayed in your last piece on JPM. 9ema on the 5 is good too
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1 pointSkip this post if you don't have a StreamDeck and / or aren't comfortable doing custom macros in your SD config. Advanced Uses: If you're adventurous and own a StreamDeck, you can do the swap automatically (so place once and then return to your default). In this example, I have the following DAS Config: Default Line: ALT+D (this is: HorizontalLine, DotLine, Black, 1px) Green Line: ALT+G (this is: HorizontalLine, DotLine, Green, 2px) Horizontal Line Tool: CTRL+ALT+L Using a StreamDeck extension "SuperMacro" (by BarRaider), I setup a "Super Macro" (type) hotkey in Stream Deck with this script in the Short-Press Macro box: {{CTRL}{ALT}{L}} {{ALT}{G}} {{LBUTTON}} {{ALT}{D}} Now, when I'm on the chart, I hover my mouse pointer over where I want to place a special line (like Moving Averages on the Daily Chart), I can simply hit my GREEN-LINE Button and it'll: Trigger the Line Tool --> { {CTRL}}{ALT}{L} } Set Line Config to Green --> { {ALT}{G} } Send the Left Mouse Button --> { {LBUTTON} } Set Line Config back to my Default Line { {ALT}{D} } Thus, it's a one key operation to place the special color line.
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1 pointHi all, Having a journal is a must. I feel like I have learned so much about my trading in just the 2 weeks trading live because of this journal. For anyone starting out like me, if you are serious about this business, take the time to have a detailed journal. How else can we improve something we are not tracking? I focus more on the details of the trade and what I was thinking at the time, IB has tons of report performance reports that I can pull later if I want to see the numbers crunched. Here is a screenshot and detail of my journal, I have 3 main sections on my recap: Screenshot Link: Click Here Section 1: In this section I record how I feel Physically and Mentally in the morning before I start my trading day. Comment if I was able to get my morning routine done as planned. (My mourning routine is gym, sauna, get to my station and write my Journal Intro, review previous day recap, then build watchlist) Section 2: Here I add a screenshot of my Das Trader Account Report, with the me a summary of what I traded for the day. At the bottom of the page I also have additional screenshots of the detail transactions. Section 3: In this section I track some information of the stock like float size and how I found the stock. I also note down details of the trade like the strategy, position size and details of the price action shown on the screenshot. The best part about this section is the “Well Done" and "Improvement Notes”. I read on “The Daily Trading Coach: 101 Lessons for Becoming Your Own Trading Psychologist” how important it is to track what you did well on a trade. This way your recap is not all negative but also highlighting the good things that you should continue to do. Software: Just some information on the software I use, I track my Journal on Microsoft OneNote. As you can see on the pages tab I track all my Trading stuff like highlights of the book I am reading and any training course notes. If you have not try this software please give it a shot. It has a lot of great features, syncs with all devices and is completely free. Thanks. Carlos M.