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Showing content with the highest reputation on 07/05/2020 in all areas

  1. 1 point
    2020-7 - 1 & 2 Tough day overall on 7-1. But I made some nice positive trades in the afternoon by watching the scanners in the BBT chatroom. Felt pretty good since my watch-list had gone stale, I felt the scanner gave me some good additional trading opportunities. Green Day on 7-2 I ended up 1.1R but was as high as 3.5R. Kept trying to go for my goal of 5R for the day... One of the things I read on Andrew's book was if a trade was not going your way to exit it right away. I felt I did a great job of this on 7-2. This has been a big change for me as I have really have been trying to let trades run all the way to goal or stop. Also trying to swing for the homeruns. It feels different to be quick on the exit trigger, but I think it is making a positive impact. Will keep monitoring the strategy.. Really only traded one symbol $PFE all day and also took one SPY trade. Just a few trades to share: Trade 2 $PFE +1.55R Took for a reverse ABCD at 9:34 in and out... 11 AM Trade $PFE -1R 1/2/5/15/ORB and HOD This was a trade I was excited to take. I had alerts on my PC and my phone for this this stock to reverse and come back and break this level. (34.62) I got an excellent entry with 2000 shares, ready to make the homerun of the year. You have to ignore the 34.85 line on this graphic, since I clipped that later it is reflecting the high of this trading day. There was no sign of resistance on this trading day. I was convinced that it wasn't going to slow down until it hit 35 and would have the opportunity to continue. Well....It rose pretty good but then gave two back to back indecision candles at 11:34 and 11:35. Had I been able to exit (or even partial) at this point I would have closed another 2.5R. I wanted the homerun so bad I stayed all in. Then my house got crazy and I had to take my daughter. Stopped out for a 1R loss. Still hurting. How would you have played this ? Afterthoughts: Feeling great about having a green day. Feeling great about bailing out on bad trades with zero or close to zero loss. Still pushing trades as opposed to waiting for perfect setups. Traded the SPY for a +1R. Thinking I should add this in my game when the signals are there. Good use of the TI scanners in the PM yesterday. Happy 4th to All ! Weekend Goals: Study double bottom setups. I have two books that were recommended: Market Wizards and Volume by Price. Need to put a dent in both. Practice in Replay with the homework posted from BBT. Study commission structure and impact for IB. Add 10% partial buttons. Add Kyle's HotKeys to "Laptop" setup
  2. 1 point
    Thanks for the printouts as I've downloaded a few of the ones I wanted to try first and so far I think I've been able to understand them and use them to trade better since I've been able to take better entries and exit at the proper time.
  3. 1 point
    Martin, welcome to BBT! I was just talking about Melbourne last night with my wife. We were both saying how much we'd like to return (we lived on Roslyn St in Brighton from 2007-2010) and see our friends again. Love Melbourne. Good luck in your trading and don;t be afraid to reach out if we can assist you in your trading journey in any way. Peter
  4. 1 point
    I was watchin it in the morning, I think the spread was a little too large and I ended up dropping it, normally I stay away from stocks that are $100+ I don't have that great of a reason other than it seems to be that stocks that trade sub $100 have a lot more respect for whole / half dollar amounts /shrug. Hope all is well man, keep it up!
  5. 1 point
    @RTrader thanks a lot, I will look into them. I have two books on the way and I have been cramming YouTube videos. I have seen some of TradePro videos on YT, so again thanks.
  6. 1 point
    Hi Stephen, I would probably say you should check out TradePro Academy. I don't actually have a membership with them, or ever learned from them. I've traded futures since 2012 or so, before they were around. But their content on YouTube and courses and information is really good. They are actually trading real money and have approaches to the market that work. Some of their traders trade CL, (oil) which I do not do so I can't speak to that market. The biggest problem most people have in futures is the leverage; it was my issue too for a long time. Since you can start with very little money, doesn't mean you should. In futures the reality is you need more (150K+ for e-minis) and divide it by 10 for micros. If you don't have enough, you might be OK for a while, but when the algos and volatility kicks in you will get cleaned out real quick. I actually trade the micros now, because they have so much volume. A lot of the NQ volume has moved to the MNQ. Even with the micros, you can push around so good lot size. Jason
  7. 1 point
    I joined the BBT community late last year, and it has made my journey to becoming a trader much more meaningful. Learning to day trade is proving to be a daunting undertaking-- a roller coaster ride that leaves me bruised and scathed along the way. BBT has been a source of support and inspiration when I needed it most. Andrew is a breath of fresh air compared to other trading "gurus". He is more than a mentor- he is a "long-distance friend" whom you can joke around with while he doles out invaluable knowledge and experience. The culture he has built around BBT is one of respect and support. I have often felt encouraged rather than intimidated during chats. It is truly a joy plugging in to BBT everyday, and I'm proud to be a member of this community. Edit: I'm Mark A on the chatroom Current Setup: Desk: Ikea Linmon 59"x30" table top, VIVO Electric Stand Up Desk Frame Workstation Monitor: LG 27" 4k, LG 34" Ultrawide 2k, VIVO Dual Monitor Desk Stand Free-standing LCD mount Desktop: Dell XPS 8930 Special Edition Intel i7-8700K CPU 3.70GHz NVIDIA GeForce GTX 1080 8GB 64GB DDR4 Memory at 2666MHz 512GB PCIe M.2 NVMe Solid State Drive 2TB SATA Hard Drive Hotkey: Elgato Stream Deck 15 customizable LCD Keys UPS: CyberPower 1500 VA 900 Watts 12 Outlet UPS
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