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Showing content with the highest reputation on 05/04/2019 in all areas

  1. 2 points
    Converted a typical closet into a trade station. I added a 'peel n stick' wood wall paneling and installed a 3 pot-light lamp above with dimmer switch.
  2. 1 point
    Hi there, I have a clean account with $50.000 at my broker and will start day trading the BBT strategies from Andrew his books live on Monday 6th of May 2019 for 1 month. This thread will be a log of my journey into preparation to it with struggles and hopefully, somebody can learn from my mistakes or help me to be successful. If anybody wants to help mentor a bit I'm willing to reward if needed or donate to charity. I will post broker statements every day and describe all my trades. Basic rules will be: 1. Only trades with strategies from the books from Andrew. 2. Maximum loss per trade $250 - (0,5% of account) so size will be positioned accordingly to this rule 3. Maximum loss per day $1000 - All trading of the day stops when I'm down $1000 4. Daily target will be $500 - Trading stops when hit. 5. I can only enter trades between 9.3am and 11.30am NYC time So maximum I'm willing to lose here is $20.000 in this experiment in 1 month. I'm not a beginner in trading and I have 100% free time to trade like this full time. I'm mentally prepared to lose 20k, I see this is a worst-case scenario and I accept this fate. I will do everything I can to prevent this from happening. Wish me luck and let's see how I will do! I'll appreciate all advice and comments! Cheers Vic
  3. 1 point
    Finding the BBT group inspired me to build my latest PC back in December this past year. Cheers, Liam
  4. 1 point
    Week 18 Recap Rough week of trading for me. Only one trade this week was a winner, win rate of 11%. That trade that was a winner was pretty good and I got out right at my planned profit target. I started missing entries this week on perceived fear of the price going against me causing me to miss good trades. I’m too focused on my P&L and worrying about losing money and not being market focused enough to get in to good setups. Back to SIM for a couple weeks to reset and get my mind focused back on price action. · Weekly stats o 2.0 R/R (Goal: above 2.0) [Previous Week: 2.5] o 12/36 33% (Goal: above 80%) [Previous Week: 54%] o -$97.43 (Goal: $250) [Previous Week: -$46.59] o 4/9 44% trades with the trend (Goal: 100%) [Previous Week: 57%] o 7/9 78% Non-optimal Entries (Goal: 0%) [Previous Week: 36%] o 1/9 11% Letting Losers Run (Goal: 0%) [Previous Week: 0%] o 5/9 56% No Setup (Goal: 0%) [Previous Week: 17%] · Highlights o Great trade in JD, good planned R/R and executed exactly as planned. o Only let one trade run past my stop. · Ongoing things to work on o Still way too early on almost all my entries. o Not trading my setups hurt my performance this week. o Starting to get fear entering good positions.
  5. 1 point
    I had been interested in day trading for a number of years, but never knew how exactly to start. That all changed when a friend recommended Andrew's first book. It gave me a solid roadmap and understanding of what it means to day trade, and also introduced me to the amazing BBT community. I feel like Andrew is in a league of his own in terms of his authenticity, transparency, and honesty in an industry full of self proclaimed "gurus." I have been slowly learning in the simulator for about a year while of course watching Andrew trade every morning, and I couldn't imagine a better way to learn. I'm excited for where my day trading journey takes me. Thanks Andrew!
  6. 1 point
  7. 1 point
    Well, then I'm the first, I trade extremely bad in Sim not caring about plans because it's fake money anyway, but when i have some money on the line I follow the plan better. Thanks! :-)
  8. 1 point
    I have been doing that for a while now. I don't start from zero. Simulation trading is a great thing, but it's absolutely not working for me. I have zero emotion when I know there is no money on the line. I would even say that if my positions are too small I don't feel anything at all. Simulation trading is teaching me bad habits, it's putting me in a wrong mindset. Did you ever read about people who are profitable on sim, and then they go live, blow up massively or are all of a sudden in a huge loss? This is exactly why I would say it's better to learn to trade with a small size with real $ on the line compared to sim with fake money. But that's just me.
  9. 1 point
    Hi, what you are referring to is a DOM (Depth of Market). For example, Tradestation has a DOM (or 'ladder') called 'The Matrix'. It shows the total number of bids and asks at each price level on both sides. Visually, it's easier to see when there's a large order a certain price level (always at whole numbers and usually at half dollar increments). The Montage or Level 2 (Market Depth) window, presents the same information, but in my opinion, are better. The reason is the Montage (level 2/Market Depth) window, shows each market maker at that price. Rather than aggregating everything at a price like the ladder/DOM does. This is vitally important when trying to understand what market makers/participants are trying to do a different prices.
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