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Showing content with the highest reputation on 12/24/2020 in all areas

  1. 1 point
    That correct Matt, the best approach in my opinion is to work on building skills, growth mindset, proper risk management. Strategies are only small part of the game. The edge is not in the strategy itself, it is you who execute the strategy and here many things come to deal with - emotions, risk, stress, decision making, uncertainty, randomness. Once you start understanding the price action start building your mental capital which is as important as your account capital. There are wonderful materials in BBT Education center on the topic of trading psychology to help you with this part of the journey. Thanks for asking, I have been progressing slowly. First few months were disaster, I just couldn't understand anything although I spend 3 months watching all the lessons and webinars in BBT, read books, taking notes and studying. I went back to the basics and started over and this time slowly the things become more clear. I have embraced Aiman's approach. I trade with 5 $ risk in simulator which is hilarious as many times I will trade 2 shares of Tesla but when I look back it makes sense to me. The goal in this game is to preserve your money and mental capital to trade another day while building your skill and finding your edge. I am consistently green the last 2 months and making 4- 5 R average a day. Now I am increasing my risk to 10$ and planning to add another 5 $ risk every two weeks if I am green. My plan is to slowly transition to live next year, maybe in March. Also considering the option to trade 2 days live in a week and 3 days in SIM for a couple of months and see how it goes before completely go live trading. Merry Christmas and Happy New Year!
  2. 1 point
    Following are actual reports from my account. I had fixed commission rate for few days before I switched to tiered. That's not a lot of trades, on average it's same. Commissions go high for low volume and when you use market or marketable limit orders. There's no one best commission structure, it all depends how one trades. Tiered or fixed, IB does not break down commissions costs. Some of ECN charge pretty hefty fees, there's no single ECN fee value for all executions. Your research further in to this will be insightful. Fixed: Average: 0.00545 Tiered: Average 0.0055
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