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Showing content with the highest reputation on 04/03/2020 in all areas

  1. 2 points
    3-30 to 4-3-20 What I did bad this week: Technical Errors: Hotkey error Trade management: Partials too soon and too many times due to fear after loosing trades, Loss focus during the trade from outside, Took too little Risk in A+ setups Over-trading: Chased on two entries, and started to trade in the first 5min Let one trade go past my stop What I did good this week: Respected my in trade and daily stops except the one Took most trades on all of the days that I was calling out Feeling more confidant in my PB#s 3 and 7 Reading the tape well on focused days Kept my losers small on 4 days Changes to be made this upcoming week: Work on playbook trades that I may need to scalp when Tape is slow or not doing what I anticipate Rules to stick by this upcoming Week: 1. After I call it a day by either MAX Loss, Profit Target or what I am comfortable with, only use the rest of the day in SIM unless it is an A+ setup then only give back what is in my plan 2. In-Trade and Daily Stops 3. Do Not chase or revenge trade 4. PB#s 1, 3 and 7 are only to be taken Live unless Rule#1 5. Only A or better setups at time of Live trade Challenges for myself this upcoming Week: On mic trades only with my small group if available Take a planned break at 1100 or 1200 for other Bus. @ 0850 do some exercise and then meditate to calm myself Notes: Rules are not to be broken, these will cost money every time My Challenges are almost as important as my Rules, Pay attention to them Goals and Rewards: +5R or more for the week to increase size. +3.6R for the week +32.4R for the month +4.1R to start April
  2. 2 points
    Today, again, good job sitting and watching the first 5 minutes, I actually didn't see anything I liked once that 5 minutes hit. I didn't trade until 7 minutes in. I still had a few "No Strategy"ish trades, but better than yesterday First trade was TWTR, I thought I was getting a 1Min ABCD, entered at break of prior candle, with stop below VWAP. It failed. When it immediately got bought up below VWAP, I thought it was still a good idea. Entered at the same price, got one partial and stopped out at BE. Uber, I traded UBER well yesterday, I traded it horrible today. My first entry was late, my add was late. I tried short again right after I was stopped out when it dropped below VWAP and MAs again. As you can see, the dotted pink line was acting as support. So this was a bad trade idea. I then flipped long after getting stopped out, no real reason, just an emotional trade. Then I got in long again and got some decent partials. The last long I entered and immediately had doubts because of the 200sma. I thought "This is going to be resistance and and up being a double top. So I just exited the trade. The only good thing about any of these UBER trades is the last one, I realized I was just guessing and not trading and I exited, I also didn't just flip to short because of the double top/200SMA like I do sometimes, I realized I was trading like crap and stopped. The trade did end up running up close to .50 or so, but I'm still glad I wasn't in it, because It very well could have went right back down to VWAP instead of moving up. MU, when I'm down, for some reason, I look to MU or AMD thinking I can just watch the spy and trade one of these depending on that. I chased this MU trade. It was too close to VWAP for a good R:R. I got a partial but still not happy with this trade. When it broke VWAP, I shorted again, got some partials, but I'm supposed to wait for a re-test of VWAP before shorting this setup. ZM, then when I'm close to max loss, I look for big moving stocks in hopes of digging out with one big trade. This is a bad strategy. This was another chase, I should have entered close to VWAP or passed. I was waiting for the break above the prior candle, turned my head for a bit and missed it. I should have passed instead of chasing it. I am very disappointed, but not discouraged, I am committed to fighting my demons and overcoming my weaknesses while building on my strengths (once I find some). Thanks BBTFamily
  3. 2 points
    Friday 04/03/2020 I had a well-being score of 7/10 this morning. I took 2 live trades with APA and AMD. My watchlist: AMD, APA, DAL, TWTR, CCL, and BA. I liked APA in the PM and was respected a 5.40 price level. When a large ask appeared above that price I went long with half share size. My stop was VWAP. The price slowly moved up nearing the open and the plan was to add to my position when it broke above 5.46 daily level. But it popped to quickly to add at the open. I was able to take two partials before S/O at B/E. AMD opened with so-so volume and an indecision candle. The second min candle was a nice hammer. So with SPY moving higher I went long at the break of PDC. $45 target with 200MA-1min as my stop. The price was wild and unpredictable and I took two partials to reduce risk. The price finally popped a little and I got one good partial in before S/O at B/E. What did I do good today? Stopped trading when it seemed the market was too wild this morning. What I am grateful from today? Luckily to be green today. It was very wild price action, I could have easily been red today.
  4. 2 points
    Here is my setup for now. Once I have moved up a couple risk levels I will be adding another 24" monitor on the top as a reward for sticking to my plan. I plan on moving into a new room hopefully within a year but I need to sell out of our online business so I have room. Oh and by the way, My phone is an old crappy LG V20 so a new Iphone is what has been on my list for some time now. LOL Thank you for the opportunity not only for the phone but for opening my eyes up to trading. I follow daily and watch all the videos offered and I know BBT has been the only reason I have succeeded thus far. As of now I watch the PM Show everyday while gathering my own list from what I have learned from Carlos and Norm. I do have a few trading buddy's that I talk to live while trading everyday (that is what the headphones are for) and we try to keep each other in line and this I feel is another reason I am continuing to grow. Trade Safe and Stay Green Glenn
  5. 1 point
    April 3rd - Not a bad day to sit out the open. I came back to the computer a half an hour into the trading and saw how choppy it was. I ended up getting into $MU as the Market started to roll over. For some reason today was the day $MU did not want to completely sell off. I got a partial and then had a hotkey error and exited my whole position while inputting my limit order for the profit target. My second trade was on $JD when the market started to bottom out. I took it long got a partial and then decided to manage the trade differently than my plan called for. I was reward for the bad behavior as I would have gotten stopped out at b/e before it made the run up. Overall a good day to finish a rough week.
  6. 1 point
    4-3-20 AIS 0750, 6 hours, 7/10 PAT: Over-trading. PB# 1, 3, or 7 only and practice small in S&P ETF APA PB#1 PB#3 -1.2R TWTR PB#1 -0.6R OXY PB#3 Partialed too much and too fast PB#7 Did not take enough risk +4R Cons: after taking the first loses I failed to take enough risk and partialed too early and too often out of fear Pros: Kept my loses small PB Trade: both OXY Rs: +2.2
  7. 1 point
    It looks like that option got added in the 5.4.7.0 version Do you know if there is an updated SIM version on the BBT site? I can't find anything. edit: The download you posted works in this version Thanks! -Chris
  8. 1 point
    Day 60 - April 2, 2020 30 Tickets 5 Symbols Red Day Watchlist: ZM (1) - Short - 1min - VWAP Bounce and Reject Missed ZM on the way down, then consolidated, came up into the VWAP and seemed like it had indecision on increased selling volume, Took it short but it stopped me out for what seemed like a VWAP break and go instead. Improvement: Wait for confirmation, this was very strong, [picking up buying power and held VWAP - Decreasing selling vol on the 5, solid volume on the bounce - should be avoiding this and thinking long ZM (2) - Long - 1min - VWAP Break and GO (Chasing) As soon as I got stopped out I realized this was retesting and looking to break VWAP and go..flipped my position on the next candle breakout and took it long with stop just below VWAP - instantly stopped shook me out and then continue on to HOD as planned. Good: Was the right idea on flipping position and going long to HOD as I realized it had strength. Improvement: Terrible execution. Need to wait and fight for price. If I'm patient I can get in on next break and hold of VWAP of at 10:15 when it retest on small volume and hold MA's BE PATIENT. Better entry would have also give me a better stop. CCL - Long - Ascending Triangle (anticipation, Lvl 2) Saw the velocity of LVL 2 getting taken out on the ASK - took it in anticipation of breaking ascending triangle. Target up to previous day close, stop below VWAP. SPY coming up as well so have double confirmation. Didn’t work out, broke down. CVX - Long - Technical Breakout (News - Trump tweet, -1 Adjusted Stop) Really not quite sure what happened here. Emotions got the best of me and seemed like I placed the order without even thinking about it…… Oil up on news Trump mentioned Saudi and Russia looking to play ball. Didn’t even read or look into it much, just jumped on the first name that came to mind without even thinking about this… Improvement: This should not be taken, not even a question I shouldn't be making this play. SPY (1) - Short - 1min - Breakdown (anticipation? -1 Adjusted Stop) Lower highs, thinking we will go lower lows. 1min rejecting off the MA's 9 and 20 crossing the 50 as well. This isn't a great entry…chased and got it on the breakdown vs letting come up and getting a much better fill. Should have waited for it to come up into 250.5 and short the first candle down. Too much strength on the spy right now. Told myself I would take a break after this Break after this. Improvement: No game plan here - just shorting hoping it breakdown. Need to have a specific idea, much rather risk it at the highs for a huge reversal than once were at the lows hoping to break a bit lower. Note: What is the idea here? Taking an extended short into support - this is terrible. SPY (2) - Short - 1min - Failed Pops (3x, -1 Adjusted Stop) Short again, thinking this could be the top - but clearly looks like a flag that will push higher. No reason to be going short here. Got suckered into lower lows and lower highs. Taking off partial as we retest previous level and into VWAP then got stopped out B/E. FOMO again as I felt like I got stopped out at top and tried to go short again, adjusted to breakeven as it didn’t break right away. Final short, I made a hotkey error on profit target and covered right away for half, and the rest on stop loss. Improvement: Over trading here. 1 decent short on the first failed pop but other than that im just chasing, no reason to be stuck with this many ticket while its ranging. LK - Short - 1min and 5 min - Failed Pop Stair stepper all the way down, hit the MA's and rejected like it has in the past. Looking for this to continue down, till take partial at previous level, and hold for LOD. Was kind of wary on this as shorts could be covering into slow, but lots of selling pressure here on the way down. Another thing I didn’t like was 2 green candles in a row on the 5 (first time in hours….) SPY (3) - Short - 1m and 5min - Failed Pop and Breakdown (3x, -1 Adjusted Stop) Overtrading hard. Huge Bias on the short side, just didn’t want to admit I was wrong. Kept forcing the short, over and over. Turned out to be a 3R overall - brutal. Improvement: Need to close the position and step away as soon as I get to obsessed with an idea. Got caught twice on SPY both on upswings…. Trade Review Really not impressed with my trading.. At all. Looking back at my plays, terrible ideas, going back and forth between way too many setups, chasing action, cant stick with plan, trying trend lines and all this new stuff...NEED TO STICK WITH WHATS WORKING. Was pretty biased today which hit me hard. Don’t have a bias, as soon as you feel obsessed with an idea step away - GET THE FCK OUT OF THE HOUSE and take a breather. Notice I am having problems with just stepping away. Things that have been working lately - PLANNED PLAYS, which are thought about in pre-market. Shorting toward the top, once it turns over vs shorting at the bottom. Going long near the bottom of the breakout, vs going long at breakouts toward the top. Cutting stops at my stop loss. Daily Report Card 1. Only Take trades using risk calculated hotkey = 12/12 2. Placing trades with defined risk, and profit targets (No adjusting) = 8/12
  9. 1 point
    April 2nd - Frustrating day as I had a few setups starting to setup today, but then they all broke pattern right before the entry. The toughest was on $AMD and $MU as I had limit orders already set into the market waiting to get filled and both stocks ended up making a new five minute low before my entry, so I cancelled both orders around 1445. Wouldn't you know it both reversed and took off for a nice 4R move. Some days are just not meant to be. Process was followed, executed plan well, market decided I should not be paid today.
  10. 1 point
    4-2-20 AIS 0755, 6 hours, 7/10 PAT: Over-trading in Revenge. PB# 1, 3, or 7 only DIS PB#1 +1.5R MSFT PB#3 BE SDS ETF +1.4R Cons: Took too little risk and missed add opportunities. Let first MSFT trade run past my stop Pros: did keep most of my losers very small Rs: +2.9
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  13. 1 point
    First, it is great that you have been on the SIM for so long. It is a wise thing to do. I wish I stayed in SIM longer. When opening a live account it depends on the country you are from and if they have a PDT rule (Pattern Day Trading). Some countries have a $25000 minimum due to the rule. If you don't have the 25K capital then CMEG would be the broker that the BBT site recommends. I used them for a few months and they were adequate. If your country doesn't have the PDT rule or your capital is above the 25K needed then IB is the way to go. Great fills and great short list. I currently use Centerpoint which I can't recommend and will be switching to IB when the markets calm down a bit. There was some talk of Andrew working with Alliance for a BBT discount but I no longer see it recommended on the BBT site so I assume it fell through or members were not impressed.
  14. 1 point
    Day 59 - April 1, 2020 25 Tickets 5 Symbols Green Day Watchlist: M - Short - 1 and 5min - VWAP Bounce and Reject Getting delisted from S$P thinking this could have a negative impact on M... Came down quick was watching for it to retrace. Rejected VWAP with 2 upper wicks, took it short as it broke back through with stop above previous wick. Took partials off as I was thinking we would fall right away, and another partial as we came to the descending tip - took final off on the huge volume spike. Improvement: Taking partials too quick. Put in my auto targets, but adjusted. Not exactly comfortable trading these low price stocks and don’t know how they move….. CCL (1) - Long - 1min - Double Bottom Took CCL as it carved a double bottom and made tight indecision candles after a big selloff and seeming a little extended. Took it as it broke through previous high thinking we could move back up to VWAP and HOD as these things can really move. Took a partials as we moved into VWAP and MA and took some, and adjusted the rest to break of new 5min low and previous consolidation. Note: Watching the fight on level 2, looks like sellers kept stepping down and taking out the bid. AMD - Short - 1min - Double Top (Not on Watchlist) Not on my watchlist, heard this get called out as it was rallying. Kept an eye on it as it looked over extended on the 5. Got rejected hard a couple times off the 46.5 level and couldnt break through. Took it short on the new 2min low (Parabolic Reversal), with stop above level which kept getting stuffed, SPY was looking somewhat weak as well. ADJUSTED and took partial off once it came down to break even - too much strength, trading ab-normally compared to SPY on a regular day…… Improvement: This isn't one of my setups but I like these reversals - trying something new out. Should do more research on this before implementing. UBER - Long - 1min - VWAP Break and Go (stop 28.09) Had UBER on watchlist watching the 25.5 level as it has been a strong support for past 4/5 trading days. Has come right down to it first hour and then back to HOD…thought same might happen here. Has strength coming off the Double bottom, and paused briefly as VWAP. Took it long as it broke through and continued. Improvement: Need to watch my stocks on my watchlist….Missed the double bottom play here - as I got excited and played AMD after it got called out in chat..Stop watching tick by tick and chasing action vs letting the plays come to me. Hotkey Mistake.. CCL (2) - Long - 1min - Reversal (Fake Breakdown) 13 c risk Haven't really played this setup before….but saw the HUGE bids piling up and get taken out at 10.65 on the descending triangle, looked like a huge fake out on the breakdown with lots of volume done and then coming right back up on strong volume so took it long (chased and cought the top) got stopped out and then watching same pattern for reversal. Took it as it made a new 1min high off the 10.5 hold on Lvl 2 (Huge bid) and sold partials into previous levels and on the way back as it broke through consolidation. Good: Entry was much better on the second play, right out of the break, rather than chasing. Improvement: Chasing this hard on the first one..need to catch the new 1min high, vs buying the top. DO MORE RESEARCH on these reversals. Aslo cant have a bias going into these - was heavily biased on CCL. SPY - Short - 1min - Failed Pop SPY hard rejection of VWAP and started coming down, consolidated but making lower lows and lower highs. Took it short as it rejection MA's and made a new low after the bearish doji. Went my way but I panicked and covered half……instantly dropped and took another partial off, adjusted my stop to break even and got stopped out right before the 3-4$ drop…. Good: Had the right idea Improvement: Terrible trade management, got scared out of my position and covered quickly…then adjusted my stop and got top ticked right before the major move down. Trade Review Happy about my risk management today, for the most part is was very defined and stops were decently thought out. Adjusted my stop after taking partials and got stopped out. Which seems to be an alright strategy in order not to give back profits, however losing out on a lot of profits as the play could still be intact. Noticing I am still adjusting my profit targets a little too much. Need to place them and let the idea play out. This cutting half of the trade is a weird thing I am doing. Panicked and cut half on AMD and did the same on SPY…..if I made a wrong play I should be getting out full position and re-assessing, vs getting out for half and hoping. Been trying to incorporate Parabolic Reversals as I really like this play, but NEED TO STICK TO MY SETUPS until I do research, and incorporate them into my playbook. Questions to ask before jumping in: -What is the bigger picture? What is going on here? -Is this an A+ Setup? -Is this the best entry I can get, if not be patient and let the price come to me. Daily Report Card 1. Only Take trades using risk calculated hotkey = 6/6 2. Placing trades with defined risk, and profit targets (No adjusting) = 5/6
  15. 1 point
    something to keep in mind about ABCDs is that they are trend continuations and your trades from Friday are all trading in ranges except for ZM that could have continued up but ended up not. i'm guilty of the same thing, I was red every day last week trying to take ABCDs on stocks that were stuck in a range.
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