Thursday - August 13, 2020 Futures Watch /ES has been steadily building value in the upper range of recent sessions such that the 10D 30M Volume Profile has moved; currently, the recent highs are now the new VA High 3380. Due to the fact we are in the VA Range and have touched the VA High, our Main Thesis is a pullback to test the V POC 3320, around the lows of Tuesday's session. If we break above VA High, we will begin a new round of 'Alternate Thesis' where we should return to the range, but may continue higher and causing additional trending days. 10D 30M Chart /NQ has remained inside the new VA Range 10875 to 11180, consolidating around V POC 11100 and currently testing VA High. A break above the range will target recent highs around 11280, or conservatively 11250 with a higher volume node as a target. Otherwise, we'll look to return to V POC on a pullback. 10D 30M Chart /RTY has a wide VA Range with numerous volume 'pockets' below; ideally staying near V POC 1585 can lead to moves higher to recent highs and VA High 1605; however, we're currently below and have some risk to reject V POC for moves lower to different volume nodes (1560, 1540, and VA Low 1500). 10D 30M Chart Premarket Review at 9:00 ET Interesting Futures: Silver up 2.5% after a large selloff Tuesday and bounce around 23.50, target 27.50 on bounce as it provided support during the rally. Watching Gold, but currently tight consolidation and trying to hold 1920 area after a similar bounce as silver. Watching Natural Gas, Gas Report out at 10:30 ET Premarket Sectors at 9:15 ET Strong Sectors: Technology and BioTech up after strong days yesterday, continuation may occur and hold up QQQ Weak Sectors: Financials down again after starting strong yesterday and selling off most of the day. Other sectors starting slightly lower. Things to Watch: SECTOR ROTATION - Keeps occurring where usually One/Two sectors are strong while One/Two are weak. Usually a back and forth between Technology, Financials/Energy, and Health Care With Financials earlier this week, Technology and Health Care yesterday, and now we'll see which one matters or if they all are range-bound, leading to a choppy market. Watching: $AAPL, $RVLV, $SRNE, $FAT (Low Float) Secondary: $SLV, Natural Gas after Gas Report at 10:30 ET

Did you watch this video by Carlos?

Thanks! That’s awesome feedback. It’s easy to get frustrated, but that’s when we learn the most!

Your job in SIM isn't to make money, it's to learn as much as possible. Your confidence will fluctuate, pay no mind to that and just keep grinding away. Challenge yourself to learn the most on red days, so in a sense they become your most profitable days down the line. If you have a max loss day, or a string of max loss days, all that is is the market telling you you have more to learn, so ... learn and feel good about it! Wake -> lift -> market prep -> trade -> review -> enjoy your life -> repeat : p gl!

Wednesday +0.41R 4/5 2:1? 3/4 4:1? 3/4 BOXL, SIM pre-market trade +0.88R MSFT 1MinOrbUp +0.15R I second guessed myself after entering because of that crazy wick on the 2nd candle. So I took a quick partial, then got stopped at B/E 2:1? YES 4:1? YES WFC 1MinOrbUp +0.23R I had a bias long because of sector rotation into banks yesterday, this is not my 1MinOrb setup, so again I realized this after entering and took a quick partial and stopped at B/E 2:1? NO 4:1? NO MGM 5MinOrbDown +0.16R My uncertainty from the first two entries stuck with me on this one. 2:1? YES 4:1? YES MRNA 5MinOrbDown +0.91R 2:1? YES 4:1? YES ROKU BOUp@Level -1.0R Not a setup I should be taking. I did do a great job not revenge trading this one. I wanted to short when it lost VWAP, then go long when it regained VWAP, then long near HOD, then short after double top. I kept telling myself, "Look at that shitty 5Min chart, there is NO TRADE HERE, MOVE ON" So I guess that is a big positive! My uncertainty continues to haunt me. 11/12 winners would have made 2:1 before hitting my stop, I don't know why this psychological hurdle is so difficult for me to conquer. Hell, 9/12 have hit 4:1 before hitting my stop. I think I'm going to put an order in at 2:1 tomorrow for 50% and see if that helps at all. I've even considered the 100% 2:1 or stop range order to help with this issue.

DAY – 16 (8.12.2020) Trades: 2 (Red) Symbols: 1; 5 (DT: BA; Swing: IBM, WKHS, SAVE, APA, WDC) Psychology: Slept poorly, did not trade until 2 pm. Confident in BA selling off Goal for the day: Day Trades – Look to short BA on big sell off – went to bed at 3 am so DNT. Swing Trades – Manage partials/exits and average downs according to pre-set plan. Daily Market Wrap-up: SPY had good constant gains all day, tested YTD high set back in February. Gold made a move back up in AHs yesterday and sold-off today to yesterdays LOD, it should bounce back once overbought RSI is balanced out. All sectors green although MRNA, INO, VXRT and most COVID vaccine 'players' were red for the day. WL: DAY TRADES: BA Overall grade = C, Loser, Potential 5R Catalyst: Extended, expecting it to sell off. Strategy: Daily Level Test on Weakness T1: Short bias, expecting this to sell off and sure did! FOMO – ‘Set It and Forget It’ (SIFI) trade, entry on 9 EMA rejection at daily level, targets are marked in image at two daily levels. Got stopped out. Trade Management: Overall, ok. In hindsight I see low volume test wick (yellow box), should have reversed position. However, this was a SIFI trade so could not do that – had to go to an appointment. NI – I ‘knew’ (speculation) this would sell off and could trade it, but tried at 2 pm. SIFI trade means it could go either way and today it went against me, was not at trade station to assess VPA, PA and L2. SWING TRADES: WDC No change. Entered position on this symbol after gap down due to ‘bad’ earnings, has spent that last 3 days trying to climb but being held down, has held $37 for 3 days. IBM: No change. Still holding 33% of position for the break of $130. Catalyst: 2 upgrades: Argus Research (buy from hold, $155) and Zacks Investment Research ($134 from $131, remains neutral). WKHS No change. Holding my position as institutional investors are still holding for long-term growth story. Daily volume is low but PA holding $15.15 support level. SAVE No change. Still holding with average price above $20, poor decision to buy and hold overnight on parabolic move (daily chart) back in early June. The upside is that SAVE is one of the strongest airline stocks in the current climate. Their cash burn rate is significantly lower than other airlines and their niche of catering to domestic vacation travelers should help them come out better once a COVID vaccine is announced and airlines get to flying again. I like SAVE for a hold until the end of 2020 (depending on November elections). APA No, change. Still holding for move above $20, entry below $10 (5.14.20). As a former O&G engineer I ‘know’ (speculative) that Apache is one of the best companies in their industry, with clean P/L, low debt and strong potential based on diversity of assets – onshore and offshore, domestic and international. Final Review: Goal for Day: 8/9 - PASS 1. Only trade the opening 5-mins if consistently trading symbol and confident with its move – PASS 2. Partial/average down or exit swing positions (according to pre-plan) – PASS 3. Work on better entries - PASS 4. Only trade the symbols on your WL - PASS 5. Trade without P/L on screen or in mind – PASS 6. On green symbol stop trading it for the day if lost any amount of green P/L – PASS 7. 3SYO – PASS 8. Enter trades with small position, upon confirmation of ‘move’ add to position on PB – PASS 9. Keep track of each trade on Daily Trade Log (action, entry $ or P-%, chart, notes) – NA #5 and #8 are game changers for my confidence and trade management Things I did well: Stick with stocks I prepared on ahead of time, I was expecting BA to sell off and it did, was down as much as -6% at one point, finished -2.60%. Things I did poorly: Revenge trades after deciding on BA trade that failed, 2 revenge trades that also failed. Major observations to work on: Bottom Reversal o I want my entry below the daily level o When I thin kits time to enter, it’s still too early – wait.

HI 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!

Hey Everyone, I'm a relatively new trader and currently practicing daily in SIM. I've had streaks of green for a few days, but then I'll have streaks of red and I'll lose all my confidence. What are some ways that you guys reset your confidence when you are going through a bad streak? I know live traders go back to SIM, but what about for a new trader who is just in SIM? Is it back to the books for more learning? Or take a day off to reset? Or just keep practicing? Thanks for your help!

Thanks for sharing your battle with the psychological aspects of being a beginner trader Robert. I just read through and am wondering how it's going now, 2 years later? Have an update for all of us still learning the trade? And have any advice to your less experienced self re: the psychology of trading or just trading in general?

Up to you sir! You can always just go in with small size, worst case scenario you have a few bad days, lose a small amount of cheddar, then jump back in SIM. I'm thinking i'll do the same here pretty soon 🙂

My advice is to journal your trades. This allows you to go back and reflect on what went right, what went wrong. The general advice is that you need to spend at least three months in SIM. It sounds like the more time spent in SIM the better you are for the long run. I have been journaling in the BBT forums. Sometimes you get feedback from people. But it is an excellent exercise either way. Additionally I would highly recommend using something like TraderVue. www.tradervue.com They have a free version to try and it is inexpensive to use if you commit to it. BBT is currently recommending ChartLog. This was created by some BBT members but I have not tried it myself. Red days are tough and tough for the ego. But as everyone has said, I have learned the most by going back and analyzing them. Again the forum is a good place to get feedback as well. Good Luck ! Keep at it !

2020-8-13 <SIM> One and Done ! Was planning on trading the first 90 minutes, put decided to call it a day after one trade 🙂 TRADE 1 $AMD 2 Minute ORB +2.72R A little proud of this one as it did not make a breakout at the one minute mark, but it did move a little later and I caught it. I was a little off of the rest of my watchlist as the other stocks went on SSR. I have to admit I was partialing heavy because my p&l was doing good and I wanted to capture the profit. I got a lot of shares with my entry and it moved fast. Since there were no levels where this stock was trading I wanted to lock in the dollars... Afterthoughts: Green day, Green week, Green month ! Good discipline today. Contemplating the thought of Live trading the early morning and then switching to SIM after the first 90 minutes. Thoughts ?

All, Trying to 'anchor' a watch list with an auxiliary 'pop-out' chart that I use to monitor ETFs and major market indicators, such as QQQ or SPY. Can this be done with out having a montage for that chart?

Hi, I am a new member from Hong Kong. I've been doing LT stock investing and options for a while but still learning to daytrade. Do let me know if there is a group of hk / people who trade in this time zone so we could learn from each other.

Loved the webinar. Thanks so much. Is there a file with the spreadsheet template to collect the data? Thanks!

5-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

June 22 Update: Today I violated rules and paid the price. My 11-day green streak is over. The good news is that it wasn't max loss. Took some low quality setups trying to finish big green, rather than small green/black. That desire and greed ended up in the opposite result: a red day. Next week I will focus on the patience and mindset that started the winning streak in the first place. No relapse. Here is my equity curve since I made psychology my #1 trading priority.

I was inspired by Robbie W to analyze 5-months worth of data that I have accumulated in my trading journal. Check out his awesome infographic here! My presentation does not compare aesthetically to Robbie's, but the exercise was very insightful nonetheless. The following is a comparison of how I traded in 3 months of simulator vs. 1.5 months live. STRATEGY LEGEND JUMP and CHASE are considered impulse trades. JUMP is getting in before signal/confirmation, while CHASE is where a stock is extended and/or reward-to-risk is terrible. NUMBER OF TRADES Accuracy has declined by 24% since going live. Facebook accounts for 22% of total live trades. This is a very high percentage over the time period. For comparison, MU accounted for only 11% of trades during simulator. TRADES BY STRATEGY Since going live, I have been taking ABCDs and Reversals twice as often. I have been taking less ORBs and VFBs which can be very profitable. Impulse trades account for 20% of all trades. Bad. ACCURACY BY STRATEGY Accuracy has gone down across the board. Impulse trades turn out to be losers more than 70% of the time. Only 1/3 of Reversals are winners compared to 55% in simulator. VWAP False Breakouts are pathetic. Probably because I stopped waiting for the price to test VWAP at least once before entering. LONG VS SHORT TRADES In simulator there was parity. Now long trades far outweigh short trades. So much for calling myself a 'short-biased' trader! I suspect this is due to excessive ABCD's and Reversal trades (which turn out to be wrong). LONG VS SHORT ACCURACY Despite lower win percentage in live, short trades are still more accurate than longs. AVERAGE REALIZED RETURN BY STRATEGY This statistic is slightly advanced. Going into most trades, I have an intended reward-to-risk of at least 2. I call this figure R-Target. However, the outcome is often different due to scaling out, selling before target, exiting after stop, etc. The realized reward-to-risk is called R-Real. R-Real is calculated as: P&L/Max Loss. For a winning trade, anything greater than 2 means you returned more than twice of what you risked. This is called WIN-R. For a losing trade, anything less than -1 means a loss greater than was defined by the stop. This is LOSS-R. For both simulator and live, WIN-R is returning only slightly more than the dollar amount risked (1.1). This is bad in the long run. Since live, LOSS-R is less than -1 for majority of strategies. This means I am holding onto losing trades longer than my stop. In simulator, I would often exit before my stop and had a more favourable LOSS-R. EQUITY CURVE Mirror images!