Please use this thread to ask Thor your trading questions. Please use the search feature to look for your answers before contacting the Bear Bull Traders Team.

A goal of 4R per day seems a bit of a high goal to me when you are starting out live trading. But maybe that's because I like to use fairly wide stops compared to others (from what I can judge). Your trading style might end up changing a bit when you go live due to the realities of putting real money on the line, how you get filled and so forth. 4R might be fine for you if you have fairly tight stops and it's not uncommon for you to get a 4R run on a winner. When you start trading live you will want to work toward being consistent and having monthly stats that are acceptable to you and reflect discipline and positive progression. At 4R/day, minus a few losing days, that would be a pretty high number. I think that even a 20R month is quite impressive for someone starting out. Heck, even just being positive at all is good news, so keeping the goal modest and within reach on an average day I think is a good way to do it. Good luck!

Hey Teruki, sorry this went unanswered! I think this is what you are asking for, but I can't test it quite properly as the market is closed. StopPrice=Price;DefShare=200;Price=Ask;Route=LIMIT;TIF=DAY+;BUY=Send;TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0 ACT:SELL STOPPRICE:StopPrice QTY:Pos TIF=DAY+; It should allow you to place a stop where you want by clicking and allow you to buy 200 shares at the ask. Of course you can change the qty of shares and ask to bid if you'd like (in bold). Also swap the orange ones if you want to use the hotkey for shorting. Is this what you were hoping for?

Happy to help Teruki! Once last piece of advice though - Practice now with exactly what you will have in equity and what you will risk when you go live. The less variables you have to change the better. Going live is enough of a challenge on your psychology; best keep the technicals as consistent as possible! 🙂

Hey Teruki, While everyone should only risk what they are comfortable with, I will say (from my personal perspective), that your risk is conservative for the goal you want. Ideally you shouldn't be risking more than 1% of your equity (which happens to be $200 in your case), so maybe you could possible risk 0.25% ($50) per trade. Giving you 4 solid trades to make your goal. Even if you are 50/50 for the day and you hit 2R on your 2 winners, that's still $100 for your day. Not bad!

@Brandon As Mike Bellafiore states often, you may not be profitable in the first two years of trading. Year one is usually you are bleeding a bit or you blow up. Year two you are breaking even or making a little. It's not until year three and onward you start making real money. It's about surviving the learning curve as Andrew and others would say! I think your journey is pretty typical and something to be proud of that you have made it this far.

Hi everyone, I was in your seat not too long ago, in fact about 9-months ago, and what I can tell you is if you are not doing the following listed below if that be on your own or with a trading buddy to keep you accountable, in my opinion, you won't make much progress: 1. In addition to the BBT book family, also read: - Technical Analysis Using Multiple Timeframes by Brian Shannon - One Good Trade and The PlayBook by Mike Bellafiore - The Daily Trading Coach by Dr. Brett Steenbarger - work the above into your trading plans 2. Trade in the simulator until you are consistent for a whole month for each setup you want to be proficient with 3. Track all your stats in the simulator (and live) in TraderVue or some other program. Be deliberate trying to quantify as much about the setup as you can. This will provide invaluable data that will greatly reduce your time to reach consistency and keep you disciplined. 4. Only trade when you get enough sleep the night before. This as much as the above has made a big difference for me. 5. Follow your risk management plan and setup controls so you don't loose more than $X/day 6. Keep at it, especially when you start to get some traction. That's when you want to press hard to do your best to really solidify the good habit of trading only X, Y, Z setups, etc. All the above has in one way or another made small or significant contributions to my rapidly progressing trade consistency and confidence in myself that I can trade well. I went live and didn't do all the above and it cost me. In the simulator again for the past two months and it's a whole different outcome for me now and I know when I go live again with day trading (still options trade as that "clicks" for me easier for some reason), i'll be 100% ready for it. Hope this helps!

Maybe CMEG follows these forums... They finally caught up and charged me everything I owed.