Please use this thread to post your questions before and after the Success Webinar! Different Days, Different Ways – Identify and Maximize Trend Days Have you ever looked backed at a day and said: “Why didn’t I just ride the trend? I’d be so much better off!” Guess what? We all have! As Day Traders, our job is to find these high probability trends and use them to our advantage, as they offer some of the best directional advantage for a position. In this Webinar, I’ll go over ways to identify likely ‘Trend Days’ in the market and how to begin building different setups to utilize and maximize the price action. We’ll cover some Market Profile, Market Internals, Trade Logic and Timing, Indicators, and enough examples to make anyone salivate at all the possibilities! By: Jarad Date : Wed, July 15, 2020 Time : 8:00 PM ET Location : Webinar Room (Lifetime Members only)

Hi Everyone, For those who don't know, every Friday @Aiman Almansoori posts weekly Simulator training ideas! They are based on trending stocks of the day and stocks that our moderators focused on. He chooses two per day, each have multiple strategies to look for, the time to focus on them, a written analysis, and what the catalyst was for the day. It also includes a watch list for all of our moderators from the past week! Check it out here!

@sawtooth500 Thank you for taking the initiative to pull together the study group. I just found out about this. Looking forward to joining it next week onwards.

We will be updating this every week and announcing once updated here! If you guys have any suggestions or want any more details let us know how to make it better!

Hi Sam, I can tell you what I pay. There is a BBT DAS promo where you get all you need for $150/month. $165 if you want the replay feature. https://www.learningdaytrading.com/partnership/bearbull I am on the tiered plan which depending on the volume of shares you trade is generally cheaper than the fixed at 1/2 a penny a share...and definitely cheaper if you trade over 200k shares a month, but could be challenging for new traders keeping it small. It was for me to get that volume... I use the chatroom scanners and their Bezinga alert service if I am trading later in the day, usually I am not but sometimes. So scanners and alert service are free. I am a Lifetime member as that pays for itself within I think a years' time if you were to get your own TI scanners. So a no brainer there. I would only be a month to month member if I thought I could not do it. I don't have that thought. IBKR Pro is what you want, not LITE for day trading. LITE is more for swing trading. I don't think LITE works with DAS? Total fees = Lifetime charge + $150 DAS/month + your commission structure (a quasi charge) I know I was concerned with charges when I first started trading and many will tell you that is the last thing they think about after they start trading live. It's more about keeping it green because that when you are really tested. Hopefully this helps 🙂

Hello, I've been apart of BBT coming on 3 months now. I'm still a ways off from transitioning from the sim to live trading. However, I'm starting to explore what's needed in terms of subscriptions/software once I do make that switch. Below is what I've come up with along with some questions. Thanks for the help! IB Account - Do most people use IBKR Lite or IBKR Pro? I plan on only day trading US equities account. I will do some trading pre-market, and don't plan on trading options, Forex, etc with this account. Reading the compare/contrast between the 2 plans makes it seem like the Lite version will provide what I need--however, am I missing something? DAS Trader Pro - $165/month for Deluxe Plus Package - Does this include the sim account as well or is that an additional fee? From the DAS website, it looks like there are longer term (6/12 month) sim packages available. Does BBT have any affiliation with these, or is the 3 month for $300 package the only/best discount available? BBT Subscription - Currently $99/month but may up it to the lifetime package in the coming months. Additional Scanners - Are there any "must have" scanners that you feel one should have? I've found the BBT pre-market session, the BBT scanners in the chatroom, and the DAS "Top List" all flag numerous stocks in play. I feel that this generates more than enough stocks to trade during the pre-market and during the open in order to have the opportunity at a profitable trading day. Commissions - From reading previous forums and seeing some discussion in the chat, is $0.005/share still a good ballpark figure of what to expect in the end? Thanks for your time! -Sam

Thursday LIVE +1.9R 5/6 ok trades today, I had an old habit creep in, partialing too soon. I did it 3 different times today, all would have been nice winners instead of very small winners. ROKU.1 1MinOrbUp +0.43R ROKU.2 5MinOrbUp +0.09 These are the ROKU trades with "R" lines drawn, I'm going to consider waiting for 2:1 instead of 1:1 . ROKU.1 ROKU.2 WBA 1MinOrbDown -0.97R This was a bad trade, I chased the entry. FSLY 5MinOrbUp +0.23 Great trade, except for partialing too soon. See below Could have been a nice trade with 2:1, or even if I had waited for 1:1 it would have worked great. looks like my first partial was around 0.6. JD 5MinOrbDown +0.3R JD.2 5MinOrbDown +1.8R First trade was too far from VWAP, second trade was good. I need to be more patient with partials, tomorrow I will try to draw the "R" lines during the trade. It's difficult on 1MinOrbs because things are happening so fast.

Justin, thanks, used all of them yesterday and they work I start with Kyles 20$ Buy/Sell, then partial out, put the Stop Loss to Breakeven after first partial out and finish with the new keys. One step in the right direction. Thanks for your help. Dieter

Glad it's working @Dieter These are the hotkeys for covering short positions. And yes, the BE hotkey remains the same! Cover 50%: CXL ALLSYMB;Route=LIMIT;Share=Pos*0.5;Price=Ask+0.05;TIF=DAY+;BUY=Send;ROUTE=STOP;StopType=Market;StopPrice=AvgCost;Share=Pos+share;TIF=DAY+;BUY=SEND Cover All: CXL ALLSYMB;Route=LIMIT;Share=Pos;Price=Ask+0.05;TIF=DAY+;BUY=Send

Let´s use this thread to discuss Opening Range Breakout Strategy (ORB), a strategy with the potential to make us very happy or very miserable right at the open of the market. Let´s discuss success cases, failed ORBs and how to improve the chances to take a successful ORB in order to finish happy and early our trading days. Opening Range Breakout Strategy according to Andrew first book: "How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology": 1. Monitor the stocks in watchlist for the first five minutes. identify opening range and price action. Look for a directional upward or downward movement in the one minute chart. Look for high volume with many orders going through. 2. The opening range must be significantly smaller than the stock’s Average True Range (ATR). See how to add ATR to daily chart in DAS Trader Pro. 3. See if the stock is breaking the opening range, enter the trade according to the direction of the breakout: long for an upward breakout and short for a downward move. 4. Stop loss is a close below VWAP for the long positions and a break above VWAP for the short positions. 5. Profit target is the next important technical level, such as: levels you identified in the pre-market, moving averages on a daily chart, and/ or previous day close. 6. If there is no clear technical level for profit target, exit when the stock shows signs of weakness (if long) or strength (if short). For example, if the price makes a new 5-minute low, that means weakness and consider selling your position if you´re long. If I you´re short and the stock makes a new 5-minute high, then it could be a sign of strength so consider covering your short position. For examples of ORBs, please post 1 & 5 minute (or longer time frame in case of 10, 15, or 30 min ORBs), with your entries and exits, pointing why it was a successfull or unsuccessfull ORB.

I thought I would take after Rob C. and do a 13 month of trading anniversary recap about my trading journey. In this recap I am including the biggest lessons I learned, what I wish I had done differently before going live, and last but not least my recommendations for new traders, at the end I also added a comparison of November 2018 to November 2019. Hopefully, this help you not make the same mistakes I made, or help you prepare to go live. I figure, it will be best to start with recommendations for new traders, so here I go. Recommendations for New Traders 1. Develop a business plan that has a vision, an overview, a trade plan (Robert H. Template is great), objectives, and an action plan with monthly, quarterly, and yearly goals. If you would like an example, send me an email and I will send you a copy of the one that I use. 2. Trade every type of strategy until you find what you are good at, and then refine it and come up with a playbook before going live. There is a link in my daily journal on page 13 if you would like an example to build off of. 3. Develop a risk management plan, and then seek someone out that has been trading live to give you constructive advice on it. Take that advice and apply it as you see fit, and remember they probably have some past experience that the advice is built on. 4. Number one in my book is “Respect your Stop.” You are going to be wrong, have hotkey mistakes, and make bad trades. One of my criteria’s for going live was to go 20 straight trading days without violating my stop, because if I could not respect my stop in Sim, then how could I think I would be able to respect it when I was live. I believe this is the reason I have been able to not let a stock go past my stop this year. 5. Last but not least, and I am sure you heard it from a lot of traders, it is a process that will take time, so enjoy the journey as you develop yourself as trader and truly get to know what makes you tick. I know I have. Recap of the last year Personal – The one thing I was not expecting once I began my live journey was how much I would learn about who I was. Andrew and all the other moderators talk about how important psychology is in trading. It is not just the psychology while trading, but also getting to know yourself and understanding why you react the way you do in different situations. It took me a couple of months, but I eventually figured out that I hate to be wrong, because in my profession being wrong can have catastrophic consequences. That is why for the last 23 years I have strived for perfection in everything I do at my job. Now introduce a profession where successful traders are wrong 40% of time and you can see I have a lot to learn. Trading live for the last year has made me a more flexible individual, and is helping me to become a better overall person. Technical – My biggest fear once going live was that I would blow up my account and not be able to continue before I could get through the learning curve; therefore, I decided to take Andrew’s advice and treat this like a business. Prior to going live, I developed a 5-year business plan, and a career plan, trading plan, and metrics to achieve over a year. If any of you kept up with my journal, you saw that I approached the last year through baby steps. I would attempt to master one topic first, then move onto the next. Below was the path I took: Step 1: Risk Management Plan – Failed at this until July 2019. Step 2: Stop Loss Plan – Mastered it in Sim, I say this because I made it a whole year without violating my stop loss (full disclosure: 1 time I couldn’t get out a trade due to platform issues, but I did hit the button to exit). Step 3: Entry Plan – This took me a while to nail down on my Orb strategies but by May I was very happy with it. When I introduced an afternoon strategy it became a huge problem and my equity took a hit, because my entry plan did not work, 25% accuracy when I took it live. Thanks to my risk management plan I was able to survive with minimal losses and have been able to readjust the entry to acceptable win rate of 61%. Step 4: Profit taking – By far this has been the most difficult thing for me to deal with. I refer you back to I hate being wrong. I would be quick to take profits, so I could be right, but then would miss the larger move. If I held on longer; however, meant I would get stopped out more, resulting in the dreaded being wrong situation. I am still working on this but having a solid risk management plan has made it much easier to deal with. Monetary – Well, I know I am not the next great trader, nor have I ever thought I would be. I am perfectly happy being the 3rd string quarterback making minimum wage, so over the last year this has not been much of a focus for me yet. The only monetary thing I really wanted out of this year was not to blow my account up. In the end I accomplished that, so after I get a profit taking plan that works with how I trade, I will look at increasing risk. I know it is crazy trading stocks not to make money, but to develop my trading skills, I think I read that somewhere once. 😊 Biggest Lessons learned 1. I hate to be wrong 2. Thinking in probabilities is a must, and I needed a lot of work in that area. 3. I am really good at executing my stop loss 4. I have sufficient discipline to execute a solid trading plan. 5. My risk management plan I developed in sim was crap and caused me to lose more money than I needed to. 1st Risk Management Plan: November 2018 December 2018 - Took same share size per trade with no consideration for equity amount January 2019 – July 2019 – was risking 3% of my equity per day to make 1% of my equity, yeah makes no sense, right? 2nd Risk Management Plan: I now risk 1% of my equity per day to make 2% of my equity. 6. The more I focus on money the worse I trade. 7. Having a business plan prior to going live gave me a road map to follow when things did not go the way I expected. What I wish I had done before going live There is only one thing I wish I had done before going live. I wish I would have had my risk management plan focused around max loss per day instead of focused around what I needed to risk in order to make X dollars. This was a huge miscalculation on my part and I didn’t figure it out until 9 months into trading, when I started to focus on profit taking and why I couldn’t get my winners to outweigh my losers. Once I realigned my risk management into a correct ratio, I started having bigger winners and smaller losers and my net equity curve finally started to move up. Comparison of November 2018 vs 2019 Item 2018 2019 Total Days Traded 15 12 Total Trades 28 9 Average Trades per day 1.86 .75 Profit/Loss % (2.6%) 1.2% Rule Violations Average per day 3.5 .6 Trades outside Edge 5 1 Net Equity Curve November 2018 Net Equity Curve November 2019 I can't wait to see what the next year of trading brings. Best wishes and safe trading to all.