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Showing content with the highest reputation on 02/02/2021 in all areas

  1. 1 point
    Hi tardi44, I use 5 sec chart to ensure that there is "order flow", that sometimes you miss on 1 min. For example if there is one large order vs many small orders. For momentum trading you are interested in many small orders. On top of that I use it as additional confirmation for entry. On 5 sec chart you can really nicely see micro-breakouts/micro-breakdowns. Just before it breaks, you can get a little better entry. Patterns (other than this micro-breakout) are not really reliable on this time-frame. I would not trust it. I tried it, but it simply does not work. I had many "ideal" setups on 5sec chart, but they failed and it feels random. So, nope, 5 sec chart is not for patterns. As for the "hot-buttons". I use them without "ACTIVATION". This means that each click requires me to click keyboard confirmation. I have this "Transmit" under letter "T" on my keyboard. This allows me to. Trade as following: 1) Entering Trades: 1a) I click on one of the buttons (red - for short, blue for long) and press "T" to transmit this order. I'm doing quick calculation in my head of what is amount of shares to take. I haven't found a way to do it automatically in TWS. 2) Setting up Stop Loss: 2a) I click on "STP" button and I do NOT press "T" just yet. 2b) With my mouse I move up or down line where stop loss should be. 2c) In the "order" section below buttons I change Stop Order Position size to amount of Shares I purchased. In the drop-down there is "Position Size" so I click that. 2d) I click "T" to transmit the Stop Loss order. 3) Taking partials 3a) I click on one of the red or blue buttons. Which one depends on how much I would like to partial. 3b) I can immediately click "T" for transmit, if I want to take partial NOW. Or I move my order up or down to set where I would like to take my partial. 4) Update of the Stop Loss. 4a) in the "order section" I click on "postilion" and select "Position Size". I then press "T" on keyboard to transmit (update) stop loss order. 4b) If I want to, I can move my stop loss up or down with my mouse to Break Even. 5) "Automatic" mode - preplanning There are some cases where I would like to walk away from my computer. In such cases I create 4 "range" orders for taking partials. Each of the orders has a Limit order and and Stop loss order. This is done using "OCA Group" column. If you want to "bind" two orders (so that one cancels another), simply put same text for both orders. I usually put: HHMM.PartialNumber (e.g. 0933.1). So if I would do 4 "partials" I would have 8 order lines in total: 4 limit orders, 4 stop loss orders, these orders would be "grouped" using following: 0933.1, 0933.2, 0933.4 0933.4. "Limit Order" would be linked with it's corresponding "Stop Loss" order For stops - I use hard stops. Hope it helps. Best regards, Radek
  2. 1 point
    Hi Folks My name is Shannon - I'm from Calgary, Alberta, Canada. I'm typically a pretty shy person - but thought I'd reach out to the community and see where it leads - I'm quite excited to be a part of the BBT community. I stumbled upon Andrew's book last summer and was immediately drawn to his ability to humbly and clearly communicate information that I find is typically made quite technical and confusing. It led me to the website where I lurked around for a week. Once again I was quite impressed with the humility and helpfulness of not only the moderators - but the entire community. I watched a few trading sessions and browsed through the learning material and decided quite quickly that this was the environment that I wanted to learn to trade - I actually did not even look at any other trading communities - and I became a Lifetime Member. I've spent my entire career of 31 years in emergency services as a paramedic and firefighter. I'm eligible to retire in the next 12 months - not sure exactly when I will - and I've thought several times that Day Trading may be a perfect 2nd career. Fortunately - I have a plenty of time to patiently and systematically learn and practice the material. My dream is to become profitable as a trader so that retirement from my current career is a simple decision - and I can spend more time with my wife and family. Looking forward to this new journey!!
  3. 1 point
    I am back.....I couldn't find the time to post here while I was in the Peak Capital Bootcamp. It finished mid December and I have not traded since then. I did not do well enough to earn a spot with the firm, but the experience did a lot to help my trading progress. When I get some extra time I will post some of what I have developed during the BootCamp. The disappointing part is I could not stay away from trades outside of my TradeBook. I don't know if it is something that will continue to hinder my progress, or if it was just the pressure of trying to make a certain amount before the deadline. This graph shows a graph with all trades, then I removed all "No Setup" trades to show my TradeBook setups only. I have 4 TradeBooks that I feel good with right now. 1MinOrbs, 5MinOrbs, MountainPass, and ParabolicPullback. Here is a tag breakdown of my different strategies P&L 1MinOrbUp 1MinOrbDown 5MinOrbUp 5MinOrbDown MountainPass ParabolicPullback Up until around December, I only traded $25 and $35 risk per trade. My final two months of trading before the BootCamp in my live CMEG account I was break even on my trading, but fees and commissions dwindled the funds away. I was only risking $10 per trade, so if I hade entry, exit, and 5partials, that's -0.35R in commissions. I have now reloaded my CMEG account and will be back live once the funds hit my account. I will be risking 25$ per trade, and I will consider raising to $35 once I gain 1k in equity. Very excited about 2021.
  4. 1 point
    Hi everyone, My name is David Zitter, I am 36 years old, from the Netherlands (Rotterdam) and I work there as an occupational health doctor. I have been reading about and orientating myself for roughly 9 months on trading/investing in stocks, and therefore also on day trading. After reading Andrew Aziz’s book "How To Day Trade For A Living" and after that also ""Advanced Techniques in Day Trading", I want to take the serious step of actually being a day trader and am very determined and focussed on being a consistent day trader. Of course first in a simulator, where I am not in a hurry and count on 6 months of training in that simulator before day trading with real money. Further to know, I want to do it next to my work, which is doable on an daily basis because I have a lot of autonomy in my work and because of the +6 hours time difference I can do it after I'm done working. But practically, I think I want to do it 3-4 d/w, but I can also easily see myself doing it 5 d/w. As was the advice I've read, don't trade alone. Besides the part that I very much like the social factor in it, I also value the group effort you can make together. So here I am , excited to meet all of you! Also, if possible, I'll find here a trading buddy or a mentor to guide me and who I can spar with. And I always enjoy meeting like-minded people, new people, possibly future friends and expanding my network, so I’m always in for a videoconference with a coffee to talk some more about it! I would love to hear from all of you and be part of the community. Cheers, David
  5. 1 point
    Aloha, my name is Paul and I live on Maui. I have been interested in trading for years and finally had an opportunity when I sold my snorkel business. I am a single father raising two beautiful girls (4 and 6) and love that I can be done with my trading day usually before my girls even wake up, thanks to the time difference in Hawaii. I read Andrew's book among many other and really liked his style so I joined his classes and got a simulator account. I traded in the Simulator for 4 months and went live December 1st. I feel so fortunate to have found Andrew's book and day trading, it has changed my life. The chatroom offers great support and camaraderie, I couldn't think of trading without it. Many Mahalo's to Andrew and Pez and all the support staff.
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