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Showing content with the highest reputation on 12/23/2020 in Posts

  1. 1 point
    I am 8th month in SIM. My advise is study, start with the foundation section and give yourself time to learn DAS, just get super familiar with the platform. Watch risk management, position sizing webinars. Get some screen time and practice hot keys and execution. Meanwhile learn the strategies and patterns and try to see them on the chart and in real time. You can go trough Ayman's replays and practice them as he has the entry time and the strategy. It is very useful to study market structure to keep you on the right side of the trade. Don't limit yourself to one strategy, practice all and see which one suits your personality. Once you are familiar with the strategies start journaling your trades to find out which strategies, what time of the day, which type of stocks you are doing better. Focus on these strategies only and perfect them. Start building your playbook. My advise is to practice in SIM during the real session as much as possible to recreate a real feeling for the market and make it as real as possible. Something super important is to practice in SIM every day with the size of the account you are planning to go live. It's a journey and takes time to find your edge. There is lots of valuable information from the moderators in the room, education center is amazing, ton of valuable webinars, Thor's mentorship session are great. As to ORBs, focus on price action, Level 2 and executing precise entries. You must be able to analyze a lot of data in a second, and quickly take a decision to place a trade or no. You also have to look at your internet latency at the open. The open is violate sometimes you don't get filled or you are filled at a very high price. In my opinion to make good money with ORBs, you need quite large account to put on size. And bigger size comes with experience and mental resilience. Wish you success!
  2. 1 point
    Welcome Matt, I'm in Australia so in a similar situation as the market opens at 1:30am at the moment so can only trade for the first hour or so on a consistent basis during the Australian summer. I think it depends on who you are, if you listen to the moderators they will tell you to find your edge or in other words what suits you. All the moderators trade differently and have different strategies because they all have different strengths. For example Andrew trades the open but Peter says it's not his strength despite wanting to do it better, they are both consistently profitable traders, you don't need to be able to trade every situation/strategy in every minute of the day to be an excellent trader. So while ORB will be difficult for some it's childs play to Andrew and a favoured strategy for many. It might be you like the idea of the open but it might not be your trading edge so try out different things before you settle on a style to try and nail down. We all have different characteristics and abilities in life, I'm in finance by trade, if I'd decided to be an artist, author, tradie or something like that I wouldn't have been very successful, I'm not good at it and was never good at it whereas numbers came relatively easy to me. If you're suited to later in the day then it's better to spend the 3 weeks trading strategies that your good at rather than all 6 weeks on stuff you're not. If you are more suited to the open then great it's suits your availability more. Personally I'm not very good outside the first 30 minutes, I've tried and I don't have the attention span to sit for hours waiting for a setup, I get bored and start taking bad trades to cure the boredom. The fast pace of the open suits me but for others it's chaos and they can't process the information and make decisions fast enough, luckily that works with the time I have available to spend in the market at the moment or I would've had to undertake a much slower process. In terms of strategy I didn't want to limit myself to one specific strategy so I focussed on time of day, for me that's the first 30 minutes and so my trade book is ORB (1&5 minute), Fallen Angel/Rising Devil and ABCD predominately. I don't think there's one best approach for everyone but the advice I took while learning was to spend time overtrading in Sim, investigate and try out different strategies at different times of the day and find out what works for you, develop your edge and trade book, once developed treat the Sim as if it was live (while refining your trade book) and become consistently profitable in Sim before going live. As others have said the education centre is an excellent place to find resources on strategies, trade books, risk management, psychology and all other different aspects of trading, it's a great place to start your journey by working your way through that. Spend time in the chat room listening to the pre market show and during the trading day even if you're not trading, the moderators will often give out nuggets of information about what they're looking at so it's great to just sit and look at what they're looking at to help your development.
  3. 1 point
    Since u asked directly. If it appeals to ur eyes and mind, YES learn it in SIM and master it b4 going live . Could take u 6 - 8 mths of daily screen time. With ORB u need to understand.... 1. Levels.....premarket and higher levels..... 2. Tape reading....L2 and T & S............. 3. Candle stick patterns .....read patterns on D, 60M, 15M, 5M, 1M. If u can see a 10 sec or 15sec chart tht can be helpful to an advanced trader. 4. Risk Management..... 5. Hotkeys........makes u faster and reduces the stress
  4. 1 point
    Check out the below link: https://bearbulltraders.com/course/strategy/ Go down to the below section: ABCD's and ORB's
  5. 1 point
    ORB strategy is IMO, one of the harder strategies for a new trader to learn mainly due to the amount of volume and price that a stock can move in a fast amount of time. It takes more time to learn what to do for this strategy since you are pretty much playing the open and don't know the direction of the stock. There is a ORB video or 2 in the Education Center that you can watch to try to understand it as well as Andrew has put a couple of recap videos on Youtube. I've noticed that if you wait until after the first couple of minutes you will have a better understanding of where the stock might go but again it could be a false breakout but you need to keep an eye on the volume as that is the tell all of what is happening.
  6. 1 point
    LTM is the best option as u have done. U get out wht u put in, I suggest the following : 1. Ask questions in CHAT and FORUM.....over and over if u dont understand 2. Search FORUM for ur topics of interest ..... I do it everyday and I have been trading for yrs.....learn something new or re-enforce something every time 3. Learn ur trading platform inside out...... 4. Manage RISK.....this will save u for the long term Welcome and Good luck
  7. 1 point
    Hello BBT, I joined here about a week ago and just trying absorb as much as possible. Many years ago I started off on this journey trying out the Better Trades program, I attended the 3 day live session and then practiced a bit but I was still kind of lost. I was up and down and never developed a consistent process, I ended up in the red when I threw in the towel. Since then I've mostly stayed away from the market and just stuck to my day job but in the last 6 years I got married and now have a 3 year old and a 1 year old daughter and would really like to work toward a future where I'm not dependent on an employer for providing for my family. For now the plan is to learn and paper trade for a few months and hopefully in Q2/Q3 of 2021 start live trading part time in the mornings. We'll see how that goes, looking forward to meeting everyone.
  8. 1 point
    I have a prototype that I haven't completed. It's in a batch of hotkeys I have to create videos and instructions for that I plan to release next month. That particular hotkey will be called "Scale-In w/ Refactored Risk".
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