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Showing content with the highest reputation on 08/16/2020 in Posts

  1. 1 point
    My name is Jared, but I go by Hobo Trader in the chat. I took on the name because 3.5 months ago my girlfriend and I left Austin, TX and hit the road in a van we built out. I have been trading all along the way with more success than I had in my apartment. After my trade station video I received a bunch of questions about how trading on the road has gone, my setup, and how I do it. I figured I would answer a couple of the most common questions and any additional questions you all may have about trading from the road. My van: We built out a 2013 Nissan NV 2500 HD. There is a lot to talk about here but the main thing regarding trading is electricity. The electric setup, which enables me to keep my laptop and other devices charged plus power the signal booster, includes 4-100 amp hour AGM batteries and 2-100 watt solar panels, with all necessary equipment like charge controller etc. My Setup: My setup is very simple--a laptop, mouse, headphones, a T-mobile hotspot and a cell signal booster. The cell signal booster is very important. I use one called AnyCall. Another popular option is WeBoost. I spend most of my time in beautiful, but remote areas meaning the signal is often weak or nonexistent. A signal booster cannot help with a nonexistent signal, but it can turn a weak or unreliable signal into a stronger, stable one. I would not trade without it, unless you plan on doing all your trading from the road in larger cities. If I suspect where I am headed will not have signal I watch the signal and try to remember the last place I had it so I can commute to that place in the morning if I wish to trade. Internet: There are a lot of options, most of which are really expensive. The best solution for me has been using my girlfriend's T-mobile cell phone as a hotspot. T-mobile has pretty good coverage in the US in the cities and decent coverage in the more rural areas. Verizon has the best service in rural/remote areas but it is also much costlier and when they throttle your connection they slow it down much more than T-mobile. I do not trade on a days I don't feel I can get a solid, consistent signal. I have found the consistency of the signal is much more important than the speed. I have traded with no issues on speeds as low as 2 mbps. My only issues come from connections that time in and out, not matter how fast they are when they are connected. Here is my preferred internet situation: Ping: 75 or less Speed: 5 mbps+ (although I have traded without issue on speeds as low as 2 mbps). With full bars LTE on T-mobile I routinely get 50+ mbps. Service: 3+ bars LTE after turning on my signal booster. The signal booster can usually turn one unstable bar of LTE into full coverage without any fluctuation. On rare occasion it can turn 3G to LTE service. The most important factor regarding internet is consistency of the connection. I would rather have 2 bars LTE meeting the other performance requirements than full bars LTE that occassionally drops to 1 bar or times out completely. Start slow and with small size during remote trading until you get an intuition regarding what constitutes trade-able connection. Fail-safes: On three occasions I have had the internet time out during a trade. Only one of them was a substantial loss (1x max daily loss) by the time I got the connection back. After all of these incidents I put in new measures. The first of which was increasing my service/internet requirements before trading. I speed test the connection before trading every day. I use my girlfriend's phone as a T-mobile hotspot, but I myself have Sprint. Sprint rarely has better reception than T-mobile, but it is nice to have the variety. If the T-mobile hotspot fails and I cannot get it to reconnect, my first fail-safe is to go to my phone and use the DAS mobile app to exit the position if I have service. Having multiple options helps greatly. The biggest fail-safe I have introduced is the use of hard stops. I use market stop orders at my breakeven point for a profitable trade on remaining shares. This is something I used on occasion before the big loss, but made it a rule after. If I have already partialled out most of my position and only have a very small share size I don't always use them, but until I am down to 40% or less I always have an up-to-date market stop order to make sure in the event of a connection disruption I will get out at breakeven. Additionally, if the position doesn't move in my favor immediately but doesn't hit my stop out quickly, I will put in a market stop order for my stop out point to make sure the loss is only as big as I was willing to risk. Performance: I am trading better than ever in the van, which was puzzling to me at first. At my apartment I had three screens and incredibly fast, consistent internet. I have concluded my increased success on the road is due to a few things: lower stress, better sleep, fewer tickers, and better journaling and reflection. Less stress: Before hitting the road I would wake up, trade, spend the next 3 hours building out the van, then go bartend until late, rinse and repeat. I always had a lot on my mind. Now on the road I have significantly less stress. This has had a huge impact. Better, deeper sleep: Because my days were pretty full I was getting home late and waking up early. For most of the 2.5 years I have been trading I consistently operated on less than 6 hours of sleep. Usually 5.5 hours or less. Everyone knows sleep is important, but I underestimated its importance. Since hitting the road I consistently get 7.5+ hours, often getting more than 8 hours. I never realized how foggy-brained I had been all this time on less sleep. The fogginess made it much harder to maintain appropriate discipline and manage my emotions. I believe better sleep is the single biggest reason for my success. I cannot stress this enough. Fewer tickers: In my apartment I had three screens and usually watched 6 tickers. I had all six tickers' 5 min charts pulled up, SPY, all sorts of stuff going on. On the laptop I only watch 4 tickers and can only fit a 1 min, 5 min, and daily chart for one of the stocks on my screen. That has caused me to skim the 4 tickers for what I am looking for pattern and volume-wise, pick the best one, and then completely focus on only that one ticker. This has given me a much better understanding of the price action and personality of the ticker in focus, which has led to much better entries and quicker cutting of loses because it is more clear when the tug-of-war between bulls and bears takes a turn against me. Before I think I tried to watch too many things at once and it led to poor decision making. Additionally, I found I got FOMO when I had a position but could see another ticker making a better move and it would change my trade management. I believe fewer tickers and therefore greater focus on the one with my criteria is the second biggest reason for the increased success. More reflection/journaling: Because of my busy schedule trying to complete the van and working evenings, on bad days it was hard to muster the energy and emotional currency to journal my failures. I always made time on green days, but red ones I used the excuse I needed a break or some time to get my energy back to take on the rest of the day. Since being in the van, I have a lot more time and that has led to much deeper reflection and journaling. Now I journal extensively and post trade recaps to my youtube channel every day. I have gained a much deeper understanding of my trading in the past 3.5 months than I did from the 2 years before. You cannot have success as a daytrader without thoroughly journaling and reflecting on your trades. You cannot find your edge or know who you are as a trader without deep inspection of your trading patterns. I hope this is helpful to some people who are interested in trading while traveling! I answered most of the common questions I have gotten since the trade station video, but feel free to ask away if you have an unanswered question. Safe trading!
  2. 1 point
    Hi Chris, if you right click somewhere near that drop-down list in your montage then click "Order Template" , you should get a popup window with some config of the default settings in the montage. if you play with the settings and make sure to apply it to all the exchange markets it should work. Also try to save it into a Desktop file configuration. Hope that works with you. Cheers
  3. 1 point
    Thank you Peter. I’m looking forward to meeting you all tomorrow. The address is 26 Fallingbrook Rd in the East side. Can you please confirm if you can make it to have a general idea of how many we are? We’ll be serving a “burger bar” with many healthy options, veggies, a fruit salad and dessert. Please bring your favorite beverages. See you tomorrow at 3pm. Leo
  4. 1 point
    I had 5 margaritas with dinner toni9ght, so forgive me if is lur my words. Friday 3/4 +1.6R 2:1? 2/3 4:1? 0/3 RKT.1 Pre Market BS (BullShit) -0.35R RKT.2 Pre Market BS (BullShit) +0.35R I get bored during the pre-market, I think next week I'm goi8ng to workout during the pre-market show to keeop me occupired. 2:1? NO 4:1? NO AMAT 1MinOrbUp (I missed the one minute and ebntered on the 2Min) +1.1 R 2:1? YES 4:1? NO BIDU 5MinOrbDowbn +0.47R 2:1? YES 4:1? NO I tried shorting IQ twoce at 19.01, but it was on SSR, then I remebered BIDU was tied to the bad news so i switched over tho this stock for the 5 MinOrb. I feel good about today becauser I only traded two times after the open, I did a good job of not tring to fprgce a trade. Nothing on my watchlist gave me a good signal to enter. well done pupil;.
  5. 1 point
    Ryan, I will use your specs to guide me in acquiring the equipment, either off-the-shelf or through a custom builder. Actually, I am going to NY in a couple of months, maybe we can work something out. It would demand a lot more time for me to try to build it myself, and I want to focus as much time as possible to trading. Mario, absolutely! I live on Long Island, but if you give me a budget, I can easily build you a trading computer based on the specs I outlined (and within budget). This goes for anybody else that wants a custom computer built. I do this for a living and would love to help out the community!
  6. 1 point
    Hi Mario, Falcon builds really quality systems, but they do come with a pretty high price tag. I am an IT consultant so naturally, I have the skills for this lol. I built my own machine with parts from my local computer store (Microcenter) for around $2,500. Mind you, I went completely overkill because my trading platform (Tradestation) is a real resource monster and you need to have some heavy processing power in order for it to run properly. DAS isn't as nearly intensive as TradeStation, but you do want to ensure you build something that won't become obsolete in the next 2 years. Especially with how frequently Microsoft is updating Windows 10, each update comes with a bit of a hit on certain areas of performance. Also just be mindful that the more monitors you wish to add, the more power you will need. Here's my system: 1x Intel i7 6800K CPU (processor) that is water-cooled and overclocked to 4.2 GHz. 32 GB's of high performance RAM 1x Samsung EVO 950 Pro (NVMe), 256B SSD (Solid State) - For Windows and applications 1x Crucial 525MX, 525GB SSD - For profile data and basic user data 1x Western Digital 3 TB 7200RPM Mechanical drive - for bulk data like image files 2x nVidia GTX 970 video cards 1x Corsair H110ti water cooler (for CPU) 1x Asus STRIX X99 Gaming motherboard 1x Corsair 750 Watt power supply 6x Acer 24" LED LCD monitors mounted on a HEX stand that is mounted to my desk 1x NEC monitor that is rotated for portrait mode and has the chatroom, Outlook and other apps on it 2x Dell keyboards. 1 keyboard is used for normal input, the second keyboard I used a free program called HIDMacros that allowed me to program any key to executed a macro or command. So the number pad on my second keyboard handles all of the order entry commands for my platform. Windows 7 Pro Remember, I went overboard because of my platform and since I am an IT guy, I figured "why the hell not?". Plus, it was a business write-off :) You will often find that "gaming" computers are best suited for day trading, but they sometimes have video cards that are complete overkill. As I mentioned above the specs of my machine, the more monitors you wish to have, the more video processing and hardware power you will need. MOST video cards can support up to 4 monitors on 1 card. If you want more than 1 monitor, than you will likely need 2 video cards. On-board video may be an option, but some manufactures will disable the on-board video if an add-on video card is detected. However, here's a breakdown of the BARE MINIMUM you need for a decent trading workstation: Processor (CPU): Minimum of an Intel Core i7 series processor. Most of these processors are fine and the latest generation (7th generation) is sufficient to handle the load. Ideally you want a processor with a higher clock speed (measured in GHz) as this will crunch numbers and data faster. Memory (RAM): NO less than 16GB's (Gigabytes) of memory. 32 is perfect, but 16 will do the job as well. The more memory you have, the more responsive programs are and the more space a program is given to store instructions that it needs quickly. Storage (Hard Drive Space): Hard Drive capacity is measured in Gigabytes and sometimes Terabytes depending on the type of drive. This isn't super important to your trading computer unless you plan on using your trading computer for other tasks, at which point, you will likely need more space. However, the most important take-away here is you want your primary hard drive (the "C-Drive" where Windows and your programs live) to be a Solid State Drive (SSD). These come in many forms, but the BEST option here is what is called an NVME drive. This type of drive plugs DIRECTLY into the motherboard. These are the fastest drives available now. The other type of solid state drive which is still a good option and good enough for trading is a regular 2.5" solid state drive that connects via a SATA data cable to a SATA port on your motherboard. This isn't as fast as the NVME drive you plug directly into your motherboard, but if you are on a budget it will suffice. The third and final type of drive to avoid unless you need a buttload of space is a standard 7200 RPM mechanical drive. These are the drives that have been around forever and the drives that moving parts (they have discs in them that spin around). These drives are slower and have a higher failure rate. Motherboard: The motherboard is the most important piece to the puzzle here since it connects all of the components and makes them "Talk" to each other. Naturally, you want a board that is compatible with your processor but also powerful enough and offers enough expansive capacity to ensure you will be able to add more memory (RAM), additional hard drives, and most importantly, additional video cards if needed. Once again, most of the gaming motherboards will fit the bill here. If you plan to have more than 3-4 monitors then you will need to ensure the motherboard you get has the ability to add another video card. You will want a board with at least 2x PCIe (PCI Express) x8 slots. Newer boards have x16 slots which is even better (the x8 or x16 signifies the speed at which the port can operate. Newer cards need the higher speed to operate more effectively, but this is more for gaming than trading). Also ensure the board offers gigabit LAN. This is a default on almost all boards nowadays, but I have seen a few lower-end boards that only offer 10/100 speed for the LAN (rather than 10/100/1000 or 'Gigabit'). Video Cards (GPU): I discussed this above with how many monitors you plan to add to your system. I prefer the NVidia cards as they are reasonably priced and they offer lots of power. You do not need the absolute latest $700 video card that has 5 GB's of RAM. This is total overkill (unless you plan to game). Any of the lower-end 10x series or even the higher numbered 9x series cards will do the job. Each of the video cards will be independent. Gamers tend to use what is called 'SLI' to make 2 cards act like one, but that is not the case here since we just need extra monitor space. Just be sure if you want more than one video card you see my notes on the motherboard above. Case: The case is something that you can have a little fun with. This is where all of the pieces of the computer live. People tend to get creative with these and get cases with windows and lights and all sorts of fancy stuff. This is entirely up to you. The most important take-away on the case is that it MUST support proper cooling. Most cases have 2x 80mm or 120mm fans in them. The more fans the more air is moving through the case to keep the internal components cool. If your goods overheat, then your machine will shut down and could potentially fry. So make sure you find a case with decent cooling capacity. Power Supply (PSU): The power supply or PSU is what provides power to all of the components. There are calculators out there that can help you determine based on what you plan to buy how large of a PSU you will need. My rule of thumb is do not go for anything less than 500 Watts. If you plan to have additional hard drives and video cards, then you will likely need a 750-1000 Watt PSU. Also, do not buy a cheap unit here. You want something that is robust and ideally, a modular power supply. These units provide the power to all of the components. If the PSU is providing crappy quality power, then you can expect crappy performance or fried components. Do not skimp on the power supply! Cooling: One final piece I am going to add here and it relates to everything else is that you need to ensure your system is properly cooled. A computer that is improperly cooled will perform poorly and you will end up replacing parts far sooner than you should. Proper cooling primarily comes from the case (discussed above), but other environmental factors such as location of the computer (is it near a heat vent, placed in a hot room, etc) will also affect the cooling. The processor is the most important component that needs to be cooled. Depending on which CPU you get, it will either come with a factory CPU cooler, or it won't come with anything. You DO NOT need to get a water-cooled system. This is ONLY for people like me who are a bit crazy and like to push their hardware to the absolute extreme. For day trading, a simple air cooler is more than enough for the processor. "Tower Coolers" as they are known do an incredible job of keeping the CPU nice and cool even under a heavy load. If you plan to go all out with high-end cards, a high-end CPU and you plan to game, day trade, edit videos and all sorts of stuff, then you will need liquid cooling. But the point of this thread is for a DAY TRADING system. so no overkill needed! I believe I about covered everything here. I probably made your head explode with even more questions, but that's what we are here for! I also apologize for the mess in my office in the pictures above. I need to re-organize my office at some point, but I had back surgery a few months ago, so moving anything is off the table for now. Although they do so that a disorganized desk is the sign of an intelligent mind.... Please feel free to ask any follow up questions. I didn't post links to specific hardware or websites since you can get this stuff from pretty much anywhere for very close to price. I have found that Microcenter is a lot cheaper than NewEgg and Amazon are. But if you don't have a Microcenter near you, you will have to order from elsewhere.
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