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Showing content with the highest reputation on 12/10/2020 in Posts
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2 pointsHello Bear Bull Traders, This TradeBook is a collection of trading strategies that the moderators within our community trade throughout the day. It is designed to assist you in understanding the setups that our moderators discuss in the chatroom. The information contained within each of these strategies can also be used as a starting point in your own journey to create a personalized strategy. It is highly recommended that you begin testing any strategy in your simulator before attempting to trade with real money. Sincerely, Bear Bull Traders Team SEE BELOW THE UPDATED VERSION..... BBT TradeBook.pdf
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1 pointFew users asked about this in chat, posting here so everyone can see how I do my ATR chart. 1) Create a new "Daily" chart 2) Download the linked .zip file and unpack it. --> https://drive.google.com/file/d/12JJGdg_SOeQVM-avM7_N-pNbDRQfN2wz/view?usp=sharing 3) Right-click the chart you created in DAS and select "Import Settings" --> Select the "ATR-chart-setup.cst" file you unpacked in #2. 4) You may need to select the chart and zoom all the way in for the effect to work. 5) Move the chart and place it where you want it. As a side tip, you can right-click the border and choose to hide the title-bar (making it smaller). I do it like this to fix a few issues .. DAS's ATR study doesn't allow you to hide the line on a chart and a chart must have either a volume or price study. If the chart is small, it'll make all of these lines behind the study info, making it hard to read .. if you make the line color white, it'll make the study color white. So I use the Volume Study with the same color as the background placed above the ATR studies to "hide" the lines. You then just need to zoom all the way in (should stay), and you'll end up with just the Study Info in the upper corner. Screenshot:
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1 point100% YES. This is similar to what I have done. I am a swing trader, but joined BBT to learn scalping in equities. However I use top down analysis ..........from Monthly to 1 minute timeframes. This allows me to see potential upcoming BIG swings but scalp into AND add on pull backs as the big swing plays out. This process will also help with intra-day swings also and capture 25R to 30Rs per trade. Tighter stops bigger profits once u find the right entry levels and add (scale in and scale out) as the price moves toward the big picture target.
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1 point1) Overtime you'll learn how to read the price action and how your position size equalized to the $risk will be different based on the stock price and your stop distance. It gets easier. I use $50 risk hotkeys as well .. the key to understand is that the position size doesn't really matter (assuming there isn't an issue with the hotkey or your buying power), if you think in factors of R. When I enter a position, I think of a) how far do I think this will run and b) what is the current price / ATR / spread -- this allows me to think in factors of R (e.g. I think it'll run 2.5R). You can still return $100 (2R) on a position with 4 shares just as you can with a position that has 400 shares. Just keep in mind: - The closer you click the price-action (last price) for your stop, the more Slippage Risk you take on. A stop distance of 0.02 cents has a lot of risk, because it's not hard for many stocks to slip that 0.02 more cents on your fill (thus a $50 risk becomes $100). In contrast, a 0.10 cent stock distance with a 0.02 slippage is only slipped from $50 -> $60. You don't want to drag a stop further away from your entry point because you're increasing risk at that point. To help with the figuring out your current position risk (based on StopPrice), put a hot-button on your montage with this script: Price=AvgCost;Share=Price*100;Price=StopPrice;SShare=Price*100;Share=Share-SShare;Share=Share;Price=Share/100;Share=Pos;Price=Price*Share;TogSShare;Share=0; ^^ This will populate your montage's Price box with the current $Dollar risk factored from your StopPrice and AvgCost. So when you first enter a position with a $50 risk hotkey, this should show ~$50.00. This hotkey script is a calculator only and should be used for information only (checking your current $risk), don't use it to do anything with the orders. - Think of the optimal Stop Distance as a function of the symbols Average True Range, current price, and spread. A $10 stock with an ATR of 0.50 cents and a spread of 0.01 can have a 0.05 cent stop-distance and be relatively safe, because it moves in small increments. In contrast, a stock at a $600 price with an ATR of $30.00, and a spread of 0.60 cents can sometimes have a stop-distance of 3.00 or more. 2. I'll have more advanced hotkeys to help automate this stuff in (hopefully, knock on wood) the near future. But the way I do it is I: - 1) Drag the stop order on chart to adjust the level price (e.g. if I'm trailing a Moving Average). - 2) Double-click the "qty" on the chart stop order's flag, this will load the order into the montage. I then use a hot-button on my montage with the following script to replace that order with the new position size. DAS SIM users: TogSShare; Share=Pos; REPLACE; Share=Pos; ROUTE=LIMIT; TogSShare; IBCO SIM Users: TogSShare; Share=Pos; REPLACE; Share=Pos; ROUTE=SMRTL; TogSShare;
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1 pointI have created a combined Playbook and Trade Planner that may be of use for some fellow members. I use it myself as a kind of cheat sheet to refer to prior to entering a trade. The idea was to store setups / strategies with picture examples in a single file that can reveal that example with the click of a button. An example of a cheat sheet is shown in the picture. In addition to the pictures of setups I have also defined some indicators / rules for each setup which refresh with the setup selection. I define the indicators on the "Strategy_definition" sheet and add pictures in the (hidden) columns on the "Plan" sheet. When a strategy is selected in cell D8 and the button is clicked, it refreshes the table of indicators and unhides a cheat sheet example picture for that setup / strategy. It is a bit slow to refresh. In addition I have added a trade planner table. I enter my intended STOP and entry price and the intended trade direction (Long / Short) and it refreshes the R:R table which provides me with the price levels that would need to be met to deliver a 2R trade and beyond. I like to compare these price levels to support / resistance levels I have marked on the stock and other technical levels and moving averages to assess the potential roadblocks at various prices. In addition I may throw in a rough trade management plan on a simplified level with Partials planned out. I include some other useful info like RVOL, the direction of the overall market etc whilst planning the trade. As a pretty new trader still in SIM I have found this has helped me to be more disciplined / patient. It also helps journal later as it gives an idea of what I was expecting before entering a trade. I just copy a new "Plan" sheet for every new trade and have one file for the trading day with several sheets. The setups I have included are my interpretation of setups mainly from the moderators success webinars. On that basis, take it as a disclaimer to check that you agree with my interpretation and test in SIM if you plan on using this. The file is an excel document and can be accessed via the Google drive link below. It needs to have macros enabled in order for the button to unhide the cheat sheet pictures to work. I have left some blank fields to allow a longer list of setups to be included. Any feedback, tips or suggestions for improvement are most welcome. https://drive.google.com/file/d/1wm5YohE7wgNn69IEGJrUBwBn1x52zPoW/view?usp=sharing
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1 pointHi fellow traders. I would like to share with anyone who may find this useful or perhaps provide a helpful ‘head start’ into the world of Hot Keys. When I began to learn day trading and the importance of using hot keys, I created an editable PDF file which I would refine and develop as my trading progressed. To this day I still refer back to this chart as a constant reminder of my complex hot-key layout. One very nice thing about the PDF I am providing here is the fact that all the comment text boxes and red square boxes are ‘live and editable’. You can use this file as a head start to customize your preferred hotkeys vs. creating one from scratch. (Bit of a time saver) You will find that as you evolve your hotkeys, you will revise your PDF on the fly continuously making it more detailed and accurate for your desired use. Just a note; All I did here was take a photo of my actual keyboard and added some black space around it. I then saved a .jpg file and converted it to a PDF file. A few things I would like to point out here in hopes to answer some possible questions. This layout I am providing here is simply how I ‘personally’ have found to work for ‘my’ for my trading style. Yours can of course differ. - The text boxes Highlighted in ‘yellow’ represent the very active hotkeys I use most commonly - The colored stickers on the keyboard (purchased from a dollar store) are something I did to help me learn with clarity/confidence under pressure. Once you have used them for a while you will most likely find that you do not need colored stickers. Your hotkeys become natural to you. That day will come. - The hotkey scripts I am providing are based on using DAS trader version 5.3.0.5 (and in particular IB as my broker). Please note to ensure that you test out all your hotkeys in simulation mode before you go live. Make changes as necessary. - From my understanding and experience using hotkeys in DAS Trader Pro 5.3.0.5. Hotkeys associated with ‘stop order’ like actions DO NOT work in pre-market environments. (I do not know why). So use at your own discretion and ensure to test out all of them in the simulator environment. Perhaps now that I have done this, it might be nice for other fellow traders to share their hotkey layout and what works well for them. Be nice to see other trading styles. Happy trading everyone! And good luck! Uploaded; April 20 2019 Revision: 0 DAS HotKey Layout and Shortcut Scripts REV0.pdf