IB look set to move their London office, eliminating the PDT rule for UK and EU clients. See link for full details but from FAQ, Q: Will I be subject to the U.S. Pattern Day Trading Rule once my account is migrated? A: Accounts maintained with IBUK are subject to the U.S. Pattern Day Trading (PDT) rule as the accounts are introduced to and carried by IBL, a U.S. broker. The PDT rule restricts accounts with equity below USD 25,000 to no more than 3 Day Trades within any 5-business day period. As accounts migrated to IBLUX, IBIE or IBCE will not be introduced to IBL, they will not be subject to the PDT rule. But FAQ also say.. Q: What happens if IBKR does not receive the regulatory approval necessary to migrate accounts by December 31, 2020? A: IBLUX, while approved, it is subject to constraints on the permitted scale of its business and licensing for either IBIE or IBCE is therefore necessary to complete the migration prior to December 31, 2020. If a determination is made that neither will receive licensing in time, clients will be contacted with an explanation as to how their account will be treated at the end of the Brexit transition period. See here for full details. https://ibkr.info/en/article/3515?

I couldn't personally tell you if it's worth it, but the Benzinga feed (click the benzinga logo at the top of chat) that you have access to in chat costs a WHOLE lot of money especially because it has the squawk feature. I used to subscribe to the free benzinga morning email, but I didn't find nearly as much value in it as something like the pre-market show. If you like to do a lot of studying before the open, it might be worth it; maybe try it out for a month and see if you like it? This is all if you were talking about getting your own subscription. The squawk is great for fresh headlines...

Holy cow...OMG, the commission calculator spreadsheet - my inner math geek is about to take over and my afternoon is shot now! 🙂 Thank you Abiel and BBT (and make sure to tell William thanks for a GREAT video and spreadsheet resource!)

Abiel - Awesome - well not really, but you're awesome answering all these questions so quickly - thank you!

I'm not particularly good at it myself, so take this with a grain of salt, but I've been practicing at it pretty regularly and a couple things I'd suggest: - Trade very small share sizes. Think about your normal comfortable share size and halve that and maybe even think about halving it again. Even with small share sizes the slow moving "start/stop" nature of pre-market can drop or boost a position you've been staring at for 5 minutes with no action in a split second. - There's usually one or two "stocks in play" but they tend to be low float stocks and you should plan accordingly. It's definitely possible to make money on them, but again keep those share sizes to a level your very comfortable with losing money on. Oh, and AAPL always seems to be in play in premarket, but with the lower volume the price action is often very erratic and confusing. - Generally I find the 5 minute chart more useful. On the one minute even with stocks in play the price action can be all over the place, but the 5 minute can give you a better idea of where things are going. - Maybe plan on only making 1 good (small) trade in premarket, and if it doesn't work, oh well and wait for the bell. An issue I consistently run into is taking a few too many trades premarket, and then I come into the market open hot and start overtrading there as well, which almost always leads to a red day for me. - As far as strategies: I've noticed that generally stocks tend to spike at the open of premarket (when I'm sleeping, Pacific time here), then tend to slowly sell off until 20-10 minutes before the opening bell, then start to pick-up again until a couple minutes before the opening bell, at which point they either spike or sell off (seems like a crapshoot more often than not which way they go). My best pre-market trades have generally been in that 10-15 minute rising window with me getting out of the trade around 3 minutes before the bell. Otherwise the same strategies you apply to normal hours should apply pre-market as well, just with much lower volume numbers. - Don't hold trades through to the bell unless your in a very good position. If they don't sell off right before the bell, they often sell off right after. Will you sometimes miss out on the last minute pre-opening bell spike? Yes. Is it worth getting caught in fall? No. - Trade with small share sizes! Not to re-emphasize that too much, but it really is the most important rule in my limited experience with pre-market. And good luck! Know that I'm out there experimenting in the pre-market with you!

My best and worst trades from October 14th, 2020

Anthony, I agree, it can be a humbling experience. It appears so easy. I mean, anyone can buy or sell a stock with just the click of a mouse button or hot key. But knowing what stock to buy and sell and when and how many shares, that's where it starts to get a bit more complicated. Also, once you really get into it, you start to see that there is so much more to it than meets the eye at first. Level 2, Volume Price Analysis (VPA), etc...I feel like for me right now, I just want to focus on learning the basics, coming up with a workable business plan and focus on the long-term. I mean, anybody could get lucky and hit a big trade and make a ton of money at once, but you could also loose a ton of money gambling this way. I want to learn a skill set that I will be able to use long-term (i.e. trade management, risking the right amount, trading a strategy/setup not just willy nilly taking trades on gut or my "instincts"-at least not at this point). If you just make a 1% return on your money each day on average, that is huge! For a $25K account that would only be $250 on average a day, but similar to compounding interest, it would become $1 million in fairly short order at that rate. That is my hope and dream, yes just a dream at this point, but I have hope. I am taking action to hopefully turn that dream into reality. What draws me to the idea of trading for a living is the freedom to not have to answer to a boss (other than the market, right lol?!), having more free time to spend with my family, having cash to do good in the world (i.e. serve and help others), and being able to be completly financially independent. If I can accomplish those goals through trading, then all the time and effort it takes to learn to trade successfully will have been worth it, even it if takes me many years. I mean think about it, imagine it takes 10 years then I finally learn to be a profitable trader. I say it would still be worth it! To me being a profitable trader means essentially the sky is the limit. If you can read the markets, you can see what direction it is going to take before it goes there, and you learn good trading habits like risk management, well, you will become a millionaire, it's just that simple. Not many people make it to millionare in their lifetimes, so even if I am 53 years old (10 years from now) before it finally all clicks and starts to come together for me, it will still be worth every cent and every bit of effort because I will then be a millionaire by the time I am 55 or 60, or whenever. The point is, if I even make it there at any age, then I am going to be doing much better than most people ever do in their entire life. Then I will be able to retire comfortably and leave my kids an inheritence, that is my vision and dream. That is what drives me to become a sucessful trader. All that being said, I am expecting and hoping to become profitable much sooner than 10 years. I am just simply saying worst case scenario, heck, even if it took my 10 freaking years, it would still be worth it lol! Anyway, enough rambling for now. This morning I am working on developing my Business Plan. I just got done wathcing the webinar by Mike B. called "Creating a Trading Business Plan" and I am now going to work on my personal Business Plan, set S.M.A.R.T. goals, etc...

Sooo many thoughts go through my mind after reading your post. I agree with much of what both Bailey and Paul have said. I have to say that the opening bell has definitely become more of a distraction for me than a help. I agree with Paul that having two (sometimes more) moderators speaking is an issue. For those who are in the room to watch Andrew trade and learn from it (NOT FOLLOW IT), it is an unnecessary distraction for anyone else to compete for airtime. I say this in the most constructive way possible. BBT has been great for me in many ways. The biggest is being able to talk with fellow traders who are serious, and in many cases, very talented. These are people that you are not going to meet in places like StockTwits. As the community has grown, the chat has become less focused, but this is something that is natural, and trying to over-moderate it would end up hurting the newer traders. One of my biggest suggestions for BBT has been making it easy for members to communicate outside of the chatroom. I understand that there is this forum, but I don't think it is the best for back and forth communication. Being able to communicate with others, whether it is trading hours or any other time, is critical for new traders and experienced ones alike. I understand this is a major challenge, because it is difficult, if not impossible, to moderate. For myself, I have chosen some of the brightest and most active people I could find to invite to a small focus group in Slack. Some accepted, some didn't; and that's fine. But, this small group has been life altering for me. And, to a certain extent, has taken me away from the chatroom. I believe that a truly interactive, 24/7 forum such as Slack, Discord, MS Teams or Google Hangouts would be a good place to start. These are great platforms to develop more communication between members. These rooms could be moderated by contributors. I know this may be taken as me being critical. I do not intend it that way. I would not be where I am as a trader had it not been for BBT. I sincerely want to see the community flourish and help many traders in the future. I intend to do what I can to contribute to that end. I think it is vitally important for traders who have improved and grown more experienced to find a way to give back to the community.

Here is my experience, Andrew Aziz has gone from making 1k - 2k a day to making 7k-10k a day. The amount of moderators, as well as their roles in the community, has become increasingly more valuable. The overall size of the community has increased drastically from my view. Carlos and the premarket show are much more polished than they use to be. The chatroom has significantly more issues as far as 'going down' or having issues, probably due to the increase of members. The forums are now very useful, and the success webinars and downloads are honestly a 'cheat' in terms of understanding how to approach trading effectively. The chatroom has become more impersonal as a direct result of the increase of members, but that isn't a fault of the moderators. Andrew Aziz exposed most of us to day trading mid cap stocks rather than penny stocks like Ross Cameron, so the suspicion of moderator manipulation and 'pump and dump' discredit are all gone. I would like to see Andrew Aziz play back a full week of his trades during the open with commentary. An unedited starting and pausing the intraday trading video of himself, not using screenshots, using full video beginning to end. It would be very helpful for him to say which trades were impulsive, and which trades were not. Through this deconstruction it would demystify why he taught a completely different way of trading than he employs in his books, even though that information was valuable. Overall this is still a growing community, and as a final comments, Andrew called so many stocks 'garbage' that they now call that 'dogs breakfast', He use to wait 5-10 minutes to trade, now he waits about 1 minute. His winning day percentage has always been ridiculously high. I was on a US Navy deployment in the South China Sea when he came to San Diego for a meetup, so I still haven't met him. Looking forward to it.