Teruki, Thank you for getting back to me on this post! I will address what I think I can add to from your previous reply. "I did not think about the time frame (afternoon) and, especially as a newbie, to think the 5 minute chart as the new 1 minute chart is a great way to understand the pattern." I'm glad that you were able to take something away from that, and here's another way to think about it. The lower the volume, the more you should "zoom" out in terms of transcribing one timeframe and treating it as its higher timeframe. This is a self-fulfilling prophecy as volume almost always is lower in the afternoon. If volume starts to pick up, like right before the close, it may be time to "zoom" back in. You will notice the lower time frame's moving averages will start to be respected again. This will allow you to dynamically analyze what 'minimum' time frame to watch. If you're in doubt which time frame to watch, I would advise looking at previous price movements. Look at how far 'whipsaw' movements can go at the stock's present current average volume. This is a good idea: whichever chart's 20EMA it respects, treat that as the new 1 minute chart. For example, that first test of VWAP on $AMD shot back down to the 5 minute chart's 20EMA and it wasn't on any exceptional volume in comparison to its neighbors. This can help you disregard the 1 minute chart for any meaningful information. (in regards to how we have learned to trade) Unless volume starts to pick back up, any stop you place under short term 'support' (e.g. under a 1 minute chart higher low that can't be seen on the 5 minute chart) may get absolutely destroyed without warning and no volume! This is not a rule, but it will help you make better decisions based on the stock you are trading. I'll go more in depth on your reply if you'd like, but I feel like that was a fair piece of information you can take with you. Also, there are a ton of valuable things that can be gained from watching the recaps of traders, but the thing they are verifiably good at is trading. Therefore the BEST thing you could do in my opinion is watch Andrew and the gang trade live. Professors, athletes, and the like, lose touch with what their 'secret sauce' is when they've been in the game for so long. A coach that has a proven track record of making winning NFL teams is probably going to teach you how to play football better than a NFL player. These 'NFL' traders are teaching us how to play, but I have 0 clue how many people are profitable compared to how many are not as a DIRECT result of their teaching. This is NOT to bag on anyone. We can't all be GODs at everything! They are two separate things. Watch them in the act, and it will teach you more about what they DON'T know they are doing. This is that information that they can't articulate to you. See what I mean?

Hello, a narration of my play on $SPCE for a breakout of 21. I am sorry if it is too lenghty. My idea was to pass a couple of messages on what I see in Level 2 + Time & Sales. BIG PICTURE Market moving sideways, with no big prospects of big moves: INTRADAY FUNDAMENTALS Not a great catalyst but a catalyst nonetheless: TECHNICAL ANALYSIS The stock trended nicely over VWAP since the open. Plan was to enter for the breakout over 21. 21 as daily high and also a multiple resistance point when looking into the daily chart. I also marked the 21.50 as important resistance, used for profit target READING THE TAPE As expected, Big push at 21. I got filled at 21.04. It consolidated sideways for a moment before moving higher. Tape was holding the BID at 21.05, after a big test lower: 3 Seconds later: Continued sideways for a while but with rising BID and multiple prints taking down the ASK. At 21.20 Big seller appeared: It was taken down: The stock moved rapidly with prints reaching 20.30. A test on BID came at 21.27: It holded and start move higher breaking the ASK on 21.30: Took a first partial (30%) at 21.32 locking some profits. Then end up closing position once the stock started to show it couldn’t break the accumulated positions at 21.35/36: It eventually dropped to .20s where it seem to hold the bid (remember the big seller? Resistance turning support!), my prediction was that the move was not done yet as we had some room to .50s: It flushed once below .20s but got bought in very fast, showing strenght. Then after a period of upwards consolidation, I got in at 21.30 with stop on low .20s (the entry was late. I got bit hesitant on those moments and was enough to lose the chance to get an entry on 21.25 which would give a much better R/R ratio. Time is key on these momentum plays). The idea was to capture a move towards .50s. But the momentum was not that strong and felt weakness once the stock tried to push into the .40s. See how all those green prints on the ASK did not move the ASK above: I as a matter of contrast see how the prints on ask moved the ASK up by .02 cents, 3 seconds earlier: followed by a further take down of the big ASK at 21.36: I ended up closing the position at 21.40/21.35. The stock made another attempt before falling all the way to 21 again. PS: Played the stock to the short side in the below 1min set up with hanging man on top:

@mlestina Matt, here is another one. Listen to how he interprets the aggressive orders compared to the passive orders in a T&S. (No fluff str8 to the point info, he is a good teacher). All he used here was filtering of larger orders in T&S, reading larger aggressive orders in TS while watching Demand/Supply zones. (I call them support/resistance, we split hairs on tht) Again remember this is scalping, BUT personally I use it to help me start my swing trades coz I get better R:R. I prefer to swing my trades. Hope this adds / helps with ur knowledge base so u can conceptualize better strategies and trade plans. NOTE: in DAS, orders inside the spread are shown as white.......this adds to confusion as the trader is hiding his/her true intentions......I make an educated guess based on proximity of price / size to S/R level, time-of-day (i.e. TOD) and prior info from TS. This will come with experience watching TS at ur defined S/R levels.

Hey folks, My name is Gar and I'm from Ireland. Happy to say that as of September, I can finally give day trading the time it deserves and see if it's something that suits me. I work as a pharmacist and currently have the luxury to pick and choose which days I work which frees up my weekdays to trade. Can still work at weekends and whenever else I need to. Would love to make trading my main source of income. It's good to dream! But i'm well aware of the challenge before me and the next few months will tell a lot. I plan to trade in sim until the end of the year at least, probably longer. Trying to focus my learning on VPA and learn from the master himself @Thor . I also really like @PeterD and @Aiman Almansoori trading styles but to be honest I can see myself learning bits from everybody in this community. Looking forward to getting to know you all!

Bailey, Thank you SO MUCH for this again. Everything you wrote is so helpful/useful, but "This is a good idea: whichever chart's 20EMA it respects, treat that as the new 1 minute chart. " this sounds like a really great idea and I will observe stocks this Monday with this in mind. Yes, I am in the chatroom every single day from the pre-market show to the end, ever since I joined the BBT in April. (I don't work now for personal reasons, so I am focusing on trading.) I have learned so much, but sometimes things happen so fast and it's hard to follow them, especially after the open. That said, I definitely understand what they are doing more, so hopefully I keep learning and I become better at it myself. Thanks again!

@mlestina Hey Matt, I have not found any one location with comprehensive info on reading lvl 2 and T&S tape but try the following: 1. Thor did video on Lvl 2 and Tape, it may be in BBT YouTube Channel. If ur in chat room during his daily one hour session ask him to explain he will be happy to explain. I neva watched his vid bcoz I listened to his take on the subject during the daily chat sessions. I found BBT videos by Carlos here https://www.youtube.com/watch?v=EasUXtRAqk8 while BBT William is here https://www.youtube.com/watch?v=cJO4tlZpzNE 2. The SMB Capital YouTube Channel (Bella is founder) has some great tape reading content in the past 18 mths. Bella and Andrew are friends. SMB videos r great for new and experienced traders. 3. Read all of the following thread, I made a comment in this short thread on BBT forum which could be relevant to you knowledge search ..... 4. Watch these two videos they r very helpful on how to read tape and also a short term strategy. Listen careful to wht he says, watch multiple times. Different trading platform but same principles. 5. If u need more help after doing the above steps we can setup a ZOOM voice call. Tht way I quickly gauge/clarify anything ur missing. However I think the above plus experience will get u over the knowledge hump. Good luck.

Hello there, I am trying to figure out when there is profit taking after the open when the stock gaped up and where there isn't. Likewise, I'm trying to figure out when there is buying/squeeze after the open when the stock gaped down and where there isn't. For the squeeze, I believe this is the "rising devil" and it seems like it is more predictable. But for profit taking it seems more random to me but for the moderators it obviously isn't and they often warn us when there will likely be profit taking after the open. I believe the "falling angel" happens because of profit taking but according to Andrew's book it is mostly for low float stocks that are less than $10. I see gaped up stocks both sky locket after the open and go down a bit for profit taking before going up. Of course, sometimes the stock keeps going down for some other reason and we cannot predict everything but I am talking about what typically happens. Is there any guideline(s) for this? Something like "when a stock gaped up this much and the activities in the pre-market is like this, then it typically happens" etc. As for the rising devil type of movement, I believe it happens when the stock gaped down and having a steady decline below the VWAP up to the open. But I know only this one as a typical movement (and the "falling angel" for low float stocks). Thank you.

Good evening Teruki, First off, these kinds of questions are what this site needs. Also, the video you linked is actually a recap of $ANF. Here is the video you meant to link based on the screenshots you provided. Analytical thought and true deconstruction of a trade is what really makes us all better traders. As far as your question is concerned, I am not Thor, and I cannot speak for Thor. However, I have spoken with Thor in the chat before with a similar deconstruction, and I have an idea of where he is coming from. I will now answer your questions directly. ------------------------------------------------------------------------------------------------------------------ 1: Why is it more of an ascending triangle than a VWAP false break out? In other words, how can you see that the stock would go up where Thor placed his initial order? This is an excellent question. It is basically asking, "What is the deal with pattern recognition ambiguity, how can we make a decision with two different available interpretations of a trading setup?". Obviously a moderator-esc approach to this question would be to tell you that two people can take two different trades on a stock and it isn't guaranteed that either strategy will work out 100% of the time, so therefore having opposing interpretations is the 'name of the game' and cannot be avoided. This is true. However, I believe that you have at least 3 brain cells, so let's actually think about what is happening here on a technical level. A. VWAP False Breakouts, as outlined in Andrew Aziz's book, happen in a specific Time Frame. That time frame is directly after the Open, a.k.a. Midmorning. Therefore it cannot be a VWAP False Breakout trade in line with that strategy. B. Let's think about it from a price action perspective. Before we get into the weeds of the individual candles, we have to think about the trade as a whole. First consideration: Is $AMD currently in an uptrend, or a downtrend? Uptrend. How do we know it is in an uptrend? Because it has been making higher lows and higher highs. As a general rule, we should prefer continuation instead of a reversal. This means we should have to be CONVINCED the trend will reverse, rather than have to be CONVINCED it will continue. This is also a later day play, where stocks tend to trend. So it is already a more attractive long. Second consideration: What has the price action been doing? On the five minute chart, the price has clearly reversed from the lows, but when it hit VWAP earlier, it did a nasty drop. However, the drop was on fairly low volume, so I would expect a retest of VWAP. This kind of low volume, large range, drop tells me I should be cautious on placing my stop super close after any entry. Third consideration: Heavy wicks on the 5 minute chart. Obviously huge wicks pointed against your trade direction is a huge No-No to go long into during the morning session, but remember, it is 3 p.m. at the time of this trade. The five minute chart essentially becomes the new 1 minute chart at this point. With this in perspective, you would expect to see some kind of pushback at VWAP, which could give an excellent entry to go long if it comes down to a decent distance from a support. If these 5 minute candles are treated as 1 minute candles, this pullback would be a joke. It can now clearly be seen as a preferable long with a stop placed under that higher low. Remember to perhaps space it down a little bit so you can hold onto your position in the event of something like the previous chop. ------------------------------------------------------------------------------------------------------------------ 2: Without the level 2 and tape information, are there more signs of the stock going up than down where he added? The only thing he has going for him here is that this is a late day play, he is EXPECTING a trend continuation. He doesn't know if he will get it. Once the price flew down he was nervous he would get stopped out, but what did it do? It traded flat above a support. Once he saw it was probably the bottom of that short term range, it broke up slightly and he added Risk to his position from the bottom of that range. At that moment it was very possibly ANOTHER higher low. If he was expecting continuation, then it would make sense to add at the bottom of the range, rather than at the area of his original position, which was obviously closer to the breakout region of the range. These are considerations that can help you have a preference on a trade and exactly what your options are for stop placement. This is not a complete strategy or a fool proof ideology, but it is a useful way to organize the chaos. Here are the items of importance I have laid out: 1) The Trend is up, try to go with the trend if you can, but if you are CONVINCED it will reverse, then check to see if an equal amount of signals point to continuation, and then choose the continuation trade if they are equal or don't take a trade until the chart develops hammer candles and stars that provide more information. 2) The Time Frame suggests that current trends will continue. 3) The Price Action is not respecting the 1 minute chart at all, so treat the higher timeframe (the 5 minute chart) as the new one minute chart, and seldom place a stop below any higher low on the 1 minute chart that is not dually represented as a higher low on the 5 minute. (If you see a bunch of 1 minute hammer candles at the base of the 1 minute higher low, you could consider a stop under them as valid, even if that higher low is not represented on the 5 minute). This is how I view it. Rate me if you dare lol.

Thor taught this strategy in yesterday's morning session and I was able to put it to use the very same day, thanks @Thor! I'm sure I missed some details, but the gist is to use levels of support/resistance combined with volume supported bounces to go short or long in the other direction. Thor said he was planning on doing a video around this idea soon, but thought I'd share what I gathered first. After further thought about it this type of trade, it has similarities to @Peter's Mountain Pass strategy, but with more emphasis on volume. It worked out pretty well for me on SQ yesterday. Setup: When a stock hits a level of resistance and then rejects with volume that's the "Top of the Volume Range" The stock then bounces off a support with volume which sets the "Bottom of the Volume Range" The long position should be taken as close to the "Bottom of the Volume Range" as possible The target is the "Top of the Volume Range" I'm sure there's more to it than this, looking forward to learning more when Thor's able to put something more detailed together.

If your willing to take partials using market orders you can, just change LIMIT to MARKET and leave out the 'Price' bit, as here you don't need to specify the bid or ask, the script below for instance will partial 25% of your position whether you are long or short. CXL ALLSYMB;ROUTE=MARKET;Share=Pos*.25;TIF=DAY+;Send=Reverse; I'm very new to BBT and trading in general, so maybe I'm missing something, but it seems to work fine for me. On a different note, thanks Kyle for your dollar risk hotkeys they've helped me alot.

Hard to say without a little more detail, but in general you're going to need your winners to run longer before taking a partial. I remember finding it hard to trade ORBs when trading with a size that small. Because it's harder to scale out with any significant impact on your P&L and your commissions will kill you. Your mileage may vary, but one thing you could try is when your entry breaks in your direction, move your stop up to break even without taking any partials. This way you can protect yourself if it reverses before hitting 2R or whatever level you're looking for.

Since everybody has different levels of experience with the stock market, it is difficult to have a one-size-fits all objective list. I am going to try to cover all the areas that you should have a firm grasp of by the end of the 3-months. It is a rough outline of what I have learned after 4 months of paper/real trading. This post will be a work in progress, but here goes. ~IN PROGRESS~ Day Trading is probably the most deceiving profession on the planet. On the surface the concept seems very simple: buy low and sell high. Then why is it that 90% of traders fail at his endeavour? Surely they aren't trying to do the exact opposite of what is profitable. Even flipping a coin has better odds at 50%. Let's take a look under the hood to see what is required to be a successful trader. CLASSES There are four classes in total. Each one runs about 1 hour, except for class 4 which is almost 2 hours. It is recommended that you attend the classes multiple times to reinforce your knowledge, refresh the concepts, as well as stay updated on any new material. It is your responsibility to go over the slides and understand what is being taught. If you have any questions, please ask them during class, in the forums, or in the chat. The community is always here to lend a hand. You should also bookmark the Bear Bull Traders FAQ and DAS Trader Pro FAQ. Some members choose to read additional day trading books, as well as practice trading replayed market data. What you get out of the course is directly related to how much effort you put in. In a sense, the entire 3-months is more of a self-paced learning program than a structured course. There are no quizzes, no tests, no projects and no scoring. It is up to you to wake up every morning and spend time in the chair mastering the trade. Nobody will hold your hand, watch over your shoulder, or monitor your performance in any way. That is how day trading is in real life: absolute freedom to stake your fortune or self-destruct and implode. STOCK MARKET BASICS -Warren Buffet once said 'The stock market is a device for transferring money from the impatient to the patient.' This is true for long term investing and for day trading. Remember that for each transaction you see in the Time/Sales window, there is a buyer and seller. When a stock is down 20% on the day and you short it, somebody is on the other side of that transaction buying. You don't know their hand though. They could be covering their short from earlier, it could be institutions loading up for long term investment, somebody hedging an options contract, etc. Beginners often gloss over this point. Volume represents transactions being filled; a transaction always involves two parties. You are trading against other people, not the market itself. -Exchanges: NYSE, NASDAQ, AMEX -Market Makers -Pre-market and after-hours -High Frequency Trading (HFT), algorithms -Bid, Ask, Spreads -Short-selling. What does it mean. -Short inventory. Why are some stocks shortable and others not -Short Sale Restriction (SSR) -Short interest, or Short Ratio -Share float -5-cent tick programs -Circuit Breaker Halts -News, earnings, and catalysts -Buyouts -Pattern Day Trade Rule >>> Make sure you understand the above prerequisites before proceeding any further. Investopedia is a great resource. CHARTS -Candle Sticks. How to read them. -Understanding Price Action. Bearish vs bullish candles. Indecision candles. -Higher highs and higher lows / Lower highs and lowers lows -1-minute vs 5-minute chart -Moving averages and how they are calculated in different timeframes -VWAP. Why it's an important intraday indicator >>> The above concepts are not tool-specific and apply to all trading platforms MECHANICAL ASPECTS -Knowing your tools (DAS) -Platform, Hotkeys, Scanners, Journaling -Order entry. Limit, market, marketable limit, stops -Level 2 -Calculating commissions and tickets >>> The goal is to familiarize yourself with DAS and be comfortable using it. For some this could take days. For others this requires weeks. TECHNICAL AND STRATEGIES -Finding Stocks in Play -Good vs. bad pre-market price action -Finding Support/Resistance Levels -Day trading Strategies. Master recognizing the patterns, entries, stops, targets. -ABCD / Reverse ABCD -Bull Flag Momentum / Bear Flag -Fallen Angel -VWAP False Break Out -VWAP Reversal -VWAP Trend Trade -Opening Range Breakup / Opening Range Breakdown -Red-to-Green / Green-to-Red -Moving Average Trend Trade -Top Reversal / Bottom Reversal -Time of Day: Open, Late Morning, Midday to Close >>> Everybody will pick this up at a different pace--learning to recognize different strategies, figuring out which one works best for you (at what time of day), etc. MANAGING YOUR ACCOUNT -Risk Management -Position Sizing -Money Management PRACTICE THE PROCESS OF EXECUTING A GOOD TRADE Putting on a trade is more than buying at point A and selling at point B. You need to combine everything you learned to get in and out of a single trade properly: 1) finding good stocks in play 2) identifying chop and staying away 3) identifying the strategy or setup 4) quickly calculating risk-to-reward 5) getting a good entry and avoid chasing/jumping the gun 6) managing the trade based on live price action and new information which the market is providing you 7) taking profit (often overlooked, yet it involves half of the entire trade) 8) you need to do all of the above while keeping your emotions in check and fighting your psychological demons >>> Over the 3-month period, you will repeat this process hundreds of times. This is where the bulk of your time will be spent. Learning to take good trades and improving on your mistakes. This is the only path to consistency. Don't waste time trading unrealistic sizes on low-float stocks because you won't learn a thing. >>>Some of your trades will turn out to be winners, some will turn out to be losers. Most likely you will have a few trades that blow up your practice account (but don't worry, you weren't taking things seriously and would never do it live, right?). GOING LIVE -Choosing a broker -Starting small and gradual position sizing -Returning to Simulator -Peer-to-peer support PSYCHOLOGY OF TRADING -Why do most traders fail here -I'm highly intelligent, analytical and very disciplined. Why this will ruin your trading. -I'm a good poker player. Good--you will be playing against yourself -Revenge -Overtrading -Fear of missing out (FOMO) -Fear of pulling the trigger -Trading scared -Averaging down -Turning a day trade into a swing trade ~IN PROGRESS~

Hi All, my name is Carlos M. I am 32 and live in Northern Jersey, few minutes from the NYC. After 12 years of working as a Senior Operations Manager, I was laid off this past December. My company purchased GE Appliances and moved to their headquarters in Louisville, Kentucky. I thought I would be more upset about the layoff but I had 12 amazing years, and I was ready to move on and try something new. The company gave us almost a year and a half notice, that was more than enough time to prepare. (Plus a nice $$$ for years of service and sticking around until the end :) ) As my work started to transition to the new company, I found myself having a lot of free time during the day. I always had an interest in trading stocks and this was the perfect time to start practicing and getting ready. I did another online course and trading that did not work out (that’s a story for another time), and then I found Andrew’s Book and Chatroom community. Signed up for the Platinum package, I did the simulator for about 4 months and when live this month (January 2018). Looking forward to possibly meeting up in the near future with others traders and continuing being part of this amazing trading community. Carlos M.