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Showing content with the highest reputation on 07/30/2020 in all areas
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4 pointsThursday - July 30, 2020 Futures Watch /ES big movement yesterday breaching the VA High 3245 and immediately falling back into the V POC 3225 which has been climbing slowly in recent trading sessions. I continue to hold Main Thesis that VA Low 3195 needs a test after multiple attempts to break out of Value Area Range. 10D 30M Chart /NQ lackluster move higher into a Volume Pocket and quickly back down to V POC 10600, a test of VA Low 10395 Main Thesis given no new highs in recent sessions. 10D 30M Chart /RTY breach of VA High 1490 and rejection at 1500 back to V POC 1480. Similar structure to /ES, I'd be looking for a test of VA Low 1465 multiple support area. 10D 30M Chart Premarket Review at 9:00 ET Interesting Futures: Silver down 4.5%, lots of volatility during Federal Reserve Meetings and now gapping lower. Energy Futures (Oil, Natural Gas) down 1.5%, weak Energy Sector. Volatility Futures up 5%, VIX up 9%, lots of buying in volatility today. Bonds are up and $TLT breaking 170 resistance and getting bought higher in premarket. Premarket Sectors at 9:15 ET Strong Sectors: None, a few flat sectors (Metals and Communications), but no volume as well. Weak Sectors: Financials down almost 2% due to bond yields falling lower. Energy down 1.5% weakness in commodities and Financial Weakness correlation. Multple sectors correlated with weak Index ETFs, Technology/QQQ down 1%, SPY/Utilities and Cons. Disc. down 1.2% Things to Watch: Silver ($SLV) Volatility Products ($VXX / $UVXY) Short Candidates ($BA Continuation, Banks like $C and $MS)
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1 pointHey Team, I recently opened up a futures account and have started successfully trading Micro E-mini contracts (S&P 500, Nasdaq 100, and Gold) after day trading stocks. Anyone in the BBT community trading these micro-contracts? Advantages are: No PDT rule Can trade accounts as small as $2K The Micro contracts (introduced last year) are suitable for new traders Companies like TradeStation offer no/low commissions on the Micros. Buck
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1 pointTL;DR: Here are some sheets with concise information about strategies members of BBT use. Shoutout to the mods and contributors for the information for these strategies. After watching Peter's amazing presentation about his 'Mountain Pass' strategy a couple nights ago, I put together an information sheet with the setup details similar to ones I had already created for a few other strategies. After putting together the Mountain Pass sheet, I decided it, among the others could be useful for my fellow BBT community members for any of the following reasons: You could use them for your playbook. If you like the layout, you could use them as a template to make your own information sheets/playbook. They could serve as a tangible, concise, introductory resource for beginner traders, who are new to these strategies. The strategy information has all been taken from the education center, success webinars and Andrew's books. I take no credit for any of the theory behind the strategies or any of the images. All credit goes to Andrew, Carlos, Peter and Hiltzy for laying out the strategies so well. I plan on doing more of these as I expand my playbook to include strategies such as Rising Devil, Fallen Angel, 1-Minute ORB, etc. So I will share those in this thread as they are made. If you have any comments, criticisms, or if I have information wrong about any of the strategies, let me know and I can make some adjustments to the sheets. Also, if you have your own playbooks / strategy resources you'd like to share, you can do so in this thread, I'd love to see what you've done. Note: Some of the information, particularly the rules such as "Place stop losses at technical levels." are notes I've made to myself based on results I have found. Some of these may not apply to you individually. Here is what they look like: The files for each strategy will be posted below.
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1 pointHI guys, this is Edwin as mentioned before in the chat i am trying to open a trading group for BBT members that locate in Hong Kong ! Feel free to reach out to me so that i can organize a trading buddy group for HK BBT members!
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1 pointHu Brandon. Definitely yes, you are going to make the most of your time in the simulator. When you're ready, go first for the 14 day free trial of DAS. More here
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1 pointHi Peter, What's the software you're using there for the Setup Performance Reports?
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1 pointNice Day ! I like the $SBUX trade ! Nice catch ! Do you have the 50sma on your chart ? Would that also be Peter's mountain pass ? What a crazy day for $KODK ! People must have made and lost some serious $$.
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1 pointWednesday LIVE +2.35R 5/8 How Many Winners Made 2:1? 3/5 I gave away too much later in the day again. KODK Pre Market +1.0R Would Have Made 2:1? YES TSM 1MinOrbDown -0.39R My original stop was above first candle, I exited when it looked more like an Orb up instead of an Orb Down. INTC 1MinOrbDown +1.6R Would Have Made 2:1? YES Had two adds to this short, it was a nice trade. AMD BODown@Level +0.2R Would Have Made 2:1? NO SBUX Double Top +1.1R Would Have Made 2:1? YES Here is where I lost concentration again today, started firing at no strategy trades again. TSM.1 DoubleTop, But I chased it bad. -1.0R TSM.2 Revenge Short -0.78R TSM.3 Revenge Short Again +0.59R Would Have Made 2:1? NO I took screenshots full screen today on my "2:1 Study Charts" I don't like how they look here in the forum, so I'll go back to the other way I took screen pics. Some good trades today. But I think I need to adjust my late morning trading, either switch to SIM after open session, or walk away for 30 minutes or so after open session to clear my mind before the late morning session. I'll get into tradervue and look at the time of the day and see if there has been a pattern this week.
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1 pointHere is a sheet for the 'Parabolic Reversal'. All the information is from Aiman's most recent success webinar, which was awesome! The photos in this one are pretty small but they work for me. If you would like the word documents just send me a message with your email and I can send them your way. I've never taken a parabolic reversal but I look forward to watching for these as another trade option! Parabolic_Reversal.pdf
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1 pointI had this same problem when I first started out. There's a delicate balancing act between how you handle the ORB trade, and not all ORB's are created equal. Some will only reach maybe 1.5 to 2R before pulling back/reversing. Others will run all day. Many will hit 1R and then reverse (especially on choppy days). What I adjusted was how and when I started to scale-out on ORB trades. If you scale at 1R everytime, you may hit on many (especially if you immediately set to B/E to protect those profits), but it greatly reduces your overall-profit potential. This is why you're "winning" (again, not a good metric) but still losing. If you figure out how far on average these usually run and adjust profits accordingly, you can fine tune your profit-taking to be more efficient. Some metrics to keep track of that assist in this (and I may possibly do a seminar on advanced metrics for optimizing if there's enough interest) are: - Highest / lowest price you saw before the position closed. - Highest / lowest price that was seen before the stock crossed your initial stop price (even after a trade has closed out) before market close (usually doesn't come to that, but sometimes a stock trends all day. I have a timelimit where I cut it off at a 90min window). - **highest / lowest price are not side relative, so they're literally the highest and lowest prices you've seen. For example, I analyzed my ORB trades and figured out that on average they'd run about 2R in my favor, so instead of scaling 25% at 1R and more at 1.5R like I was initially. I started scaling 10% around 1.5R and 20% around 2R. This dropped my accuracy to around ~40%, but my PnL shot up considerably.
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1 pointDifferent brokers sometimes have specific routes you need to use. And some brokers use the generic routes. For example, Interactive Brokers uses the SMRTL and SMRTM routes. CMEG uses the standard LIMIT and MARKET routes. Simulator uses LIMIT and MARKET In DAS, for stop orders, irrelevant of your broker, you still use LIMIT or MARKET. Those are the only options to select in the montage, so they need to be routed that way. What you need to remember is what your broker uses, and then adapt the hotkey to your setup..
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1 point5-Minute Opening Range Breakout (ORB) 5_MIN_ORB.pdf High of Day Break / Low of Day Break HOD_LOD_Breaks.pdf VWAP Reversal VWAP_Reversal.pdf Mountain Pass Mountain_Pass.pdf 1-Minute Opening Range Breakout (ORB) 1_MIN_ORB.pdf Rising Devil Rising_Devil.pdf Falling Angel Falling_Angel.pdf Parabolic Reversal Parabolic_Reversal.pdf
