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Showing content with the highest reputation since 01/21/2020 in all areas

  1. 2 points
    Hello! My name is Hunter. After reviewing loads of free material online and reading several books, I have decided this was a great community to commit my time and money towards to enhance my trading skills. I just recently began on the simulator. My plan is to stay as active as I can in the simulator environment for the next three months. I'm certainly in no rush to pour ample amounts of money into the market, if anything I'm more excited to put to use everything I have learned to see how I do in the simulator. I know when I finally go into live trading that the training and patience will pay itself off over time. A little bit about myself: I currently live in north-central Florida but plan on moving to Washington state in March. For my current full time job I am a Police Officer, which is what I have done for the last five years. I'm getting into trading because although I love what I do for work, it is limited in what it can provide to me in regards to income. I find trading fascinating and challenging, I feel like trading offers opportunity for more economic freedom and flexibility. I would love to devote more time towards things that make me happy, and spend more time with family and friends instead of being tied down to a job with a mandatory schedule working 80 hours bi-weekly. The benefit to my job is that I work rotating 12 hour shifts, which means that I only work half of the month basically. This will give me great opportunity to practice in the simulator. Days that I am unable to trade, I will be devoting a fair amount of time observing live trades and reading anything to help my psychology and trading habits. Without further ado, here begins my journal. 1/21/20: First recorded day on the journal. I've been dabbling in the simulator beforehand and making trades on some strategies, but none have been recorded for me to reflect on in the future. Started the morning like most, big breakfast and coffee. I enjoyed watching the pre-market show while sipping on a hot coffee and dabbing notes. I wanted to start my trading day off by attempting to trade 1m ORBs, which didn't go so well as you'll see.. First trade of the day (SPCE). I tried a 1 minute ORB. This should be the definition of "easier said than done." I found out very quickly that it's not so easy to enter the position where you want to when the price is fluctuating 5-8 cents all over the place. When I hit the key to enter, I entered way above where I wanted to because the price was moving so quick, and the price was so volatile that I felt uncomfortable holding onto it. I got out of the position. Though I didn't lose anything on it, I certainly did not feel good in the slightest being in it. I will stick with the consensus of not trading in the first five minutes.. I then attempted a 2m ORB on that second trade. Little smoother than the 1m ORB lol, but still a little wild. I saw a lot of resistance on the level 2 and saw it was not making a newer 1m high as fast as I wanted or expected it to, so I got out of my position. Second trade on SPCE. I then attempted a 15 minute ORB on SPCE, which was a lot easier to trade then anything I tried during those first five minutes.. This was a lot easier to trade. I got into my position after the pull back to VWAP and once it broke the body of the 1st candle. I set a soft stop below VWAP, right below that pullback. I rode it to the top and watched the Level 2. Saw the resistance pile in and began to scale out of the position on the way to the top of the wick. Felt good with this trade and comfortable with it, a lot of time to focus on level 2 and price action on lower time charts. Next trade was UBER Please disregard that first candle, still getting adjusted to my hotkeys and completed F'd it up a couple times there lol. I was aiming for a 5m ORB. I went back into the ORB trade on the third candlestick when I saw it was making a new 5m high. I obviously left a lot of profit out on this one and got out way too early. I believe it began to lag around the VWAP and pulled back slightly when it hit, so I exited the position. Looking back, I should've took a partial there and see if it continued (which it did). Next trade was on UBER again. I was looking around on the gappers for a good ABCD opportunity and saw one here. After the large push through VWAP on the 5m I saw the price came down and found support at a technical level. I saw it bounced off the level several times (I should have added to my position a little at that point). I saw the bullish break on level 2 and rode it out. I decided to scale this one out and made a pretty good profit! I was very happy with the trade. The stop loss was set below that technical level it kept bouncing off of. My last trade (late day) was AMD. I saw that AMD had a good late day rally at around 1500 hours. I thought it may continue and form an ABCD. I watched it pull back and hit the same level of support on the 2nd candle. I got in long and it failed to make a new high. I saw it was finding support on the 9 EMA and stayed in the position. I thought it was going to push possibly close to VWAP right around 51.30. However, I saw a lot of bear pressure and indecision candles and it was nearing end of the trading day. I went ahead and stopped myself out before it dumped on me, which it did. Small loss. My original stop loss was just below the 9EMA, but as that kept decreasing I decided on where I did because of the level 2. That pretty much concludes my trading day. Definitely going to shy away from 1-2 minute ORBs and stick with 5m and 15m ORBs. It's getting pretty late and I'm ready to get to bed now. I will not be able to trade the next two days since I have to work, but I look forward to trading at the open on Friday. Hopefully I can find some good material to cover on my working days away from the simulator.
  2. 2 points
    Thanks, Rob! I guess I never put too much thought into the previous candle's wick. This is definitely going to be something I put some focus on to see if it helps with my ORBs and do some back testing with this new Quote mode in simulator. Definitely appreciated sir!
  3. 2 points
    Good morning. Decent day today. Took a bunch of trades: AMD, PCG, INTC, ADPT AMD 5 min ORB. The 1 min charts shows a hammer doji and then a doji above the VWAP. Went long on the 5 min ORB but it didn't work out my way. Good trade management so I'm happy. PCG LOL Andrew was cursing at this stock and I felt the frustration as well. If only I kept a cool head, there would have been a great entry right after I was stopped out with 2 hammer dojis forming. I got into the 5 min ORB a little early but when looking at the 1 min chart, there was definitely an opportunity go long when those 2 hammer dojies formed. I then saw the 9, 20 and 50 MA crossing for a long position. I definitely could have had a bigger stop loss, but I am not sure what I was thinking. Should've, would've, could've. INTC Saw an ABCD pattern and took it long and was stopped out when the stock started to turn over. I noticed the 9, 20, and 50 crossing in a downward trend. However, as per my rule, I did not take it short as it was really close to the VWAP. It would most likely bounce back from it. I went long and hit the wrong hot key and got it by accident. I went long again and after some consolidation it did jump up. I was stopped out again as it hit my stop loss. But I did immediately go long again as I saw the 9, 20 and 50 MA cross in an upward trend. Stayed with it until I got stopped out. ADPT This stock was consolidating for quite some time but the 9, 20 and 50 were about to cross. Took it short as I was far enough from VWAP for it to bounce off. I did see the 50 on the 2 min chart and the 100 on the 1 min chart coming in but also far enough to make a decent profit. One thing I regret is not taking enough profit when it did hit 3R or even 4R. Ah well. You live and you learn. Again, learned a couple things and also confirmed some of my findings when it comes to the MAs crossing. Thank you and have a wonderful weekend!
  4. 2 points
    1-23-20 AIS 0820, 3 hours PAT: Over-Trading...... SIM / LIVE ..... Trust Myself.... Notes: LIVE only on A+ setups and for now only past after my break at 1100.... 0925 7/10 JD PB#3 SIM Trend on the 9ema using Tape for confirmation added in and also did not stop out with info from Tape took two partials and all out at BE..... Reentered and out again this time with pressure from Tape, I did not let it go to my stop but instead again from the Tape I took another entry at the previous stop for another scalp and out at BE. +1R NIO SIM PB#2 VWAP false breakout and a nice 15min reversal candle.... main problems with this trade is all the MAs above but it did not respect these levels on the small time frames so I did not put as much weight on these.... again did not stop out when it went a penny below my stop reading the Tape..... took a partial and out at BE.... +0.5R One more on WF LIVE PB#3.... Trending the 9ema on the 5min and a nice ABCD on the 2min... took it once then added in for a second ABCD.... took partials down to 30% shares left for all out at 48.43 +6R Cons: Wanted in a couple times but failed to pull the trigger.... (they did work out) Pros: Used the Tape for entries, partials and exits...... Playbook Trade: WFC Notes: WFC was a perfect setup for me and I took it with size.... Rs: +7.5R
  5. 2 points
    Totally forgot to journal yesterday as I had to leave again after trading. ROKU chopped me up yesterday. I did have some good trades but ROKU was brutal to me. I didn't watch the spread of the stock and I was too far stretched from any MA. This morning I made sure to watch the spread on the stocks and be patient when to take a position. Today, was good overall. Only trade one stock today - LK LK Used Aiman's strategy on ABCD patterns. I was a little early on one of the entries. On the second try, I had a good entry but my stop loss was too tight. I didn't change it from my previous attempt. If I had allowed the 2nd attempt a little more room for the stop loss it would have been perfect. Ah well. I knew it was going to go long so I took it long again and it paid off. Not sure what I was doing afterwards but I did miss some of my favourite set ups. I think I was in the chat. A bunch of 9, 20 and 50 MAs crossing did exactly what they were supposed to do. I took a bunch of screenshots and I am thinking to make a separate thread on specifically that. I'll have to get more examples and data before I make such a post. Thanks for looking and have a wonderful day! So I didn't hit my 1% target for the day. So I decided to trade some more. It was good at first and I actually hit my target. But of course I had to trade some more. And now I'm down to .01%....... BYND Noticed a double top and saw the 9 and 20 crossing on a downward trend. Wanted to go short but was hesitant as due to that 100 MA. But once it dropped below both the 100 and 50 MA I took it short and hit my target for the day. I then noticed the the 50 crossing the 9 and 20 on the 2 min chart and decided to take it short. However, I didn't notice how close I was to VWAP and I got stopped out. LK Now I am a little annoyed as I lost more than what I gained on BYND. Was looking for another set and found LK. Watched the 50 cross on an upward 9 and 20 MA crossing. Went long - too early. The 50 touched the 20 but the candle was still forming. It went the other way. Now I'm annoyed, impatient and long bias. Lost most of it... Perfect example of why not to over trade. I just need a week of an overall gain. Have not have had one of those....ahh
  6. 2 points
    Day 10 - Jan 21, 2019 7 Tickets 1 Symbols Green Day 1. PINS - Short - 1min - VWAP Trend Trade PINS weak from the open, failed to hold above VWAP and then made a lower high which was first bearish sign, however volume was increasing on buying side so I waited. VWAP continued to as strong rejection so I took a short as it moved away from VWAP and broke previous level, with stop just above VWAP. Worked in my favour instantly so I took a few partials (1/4 hotkey) at 1 - 2 R, left 1/4 of full position until 3R for profit target. Good: Had the right idea, high probability setup Improvement: Could have held a little longer in order to let my idea play out. Panic covering too early and reducing my profits because of it. Today's Review Missed premarket research and market open as I am house sitting this week - lots of travel. Trading wise I had good patience by not jumping in on a few plays that seemed nice. Waited for high probability setup. What I Need To Do: Take a look at hotkeys to automate position sizing. (Kyles Hotkeys)
  7. 2 points
    Hello Everyone Was meaning to post earlier but was pretty busy after some trading today. UBER, JD, LK JD Waited for a 5 min . Took it long and road it all the way up until I got stopped out once it went below the 9 MA on the 2 min chart. Roku also had a nice 5 min ORB (better movement) but unfortunately I was looking at JD at the time. UBER Tried trading UBER as a 2 min ORB but didn't go so well. But I had a really tight stop loss so my risk management was good. I then saw my new favourite set up on the 1 min chart and I took it long. I could have gone long soon when the 9 and 20 crossed over but I was waiting for the 50 to cross the 20 MA (one of my rules) for even better confirmation. LK I learned something important about the MA cross over with LK today. Even though, the MAs cross, it didn't go my way. After this happened I watched a couple other stocks with the same pattern and it seems to be the same. Even though the candle is forming below/above the VWAP it does not mean it will go short/long. It seems as if the MA's are close to and are either above or below the VWAP, it will bounce off the VWAP. Now, if we a really stretched from the VWAP, this is not a concern as it has a while to go to the VWAP and bounce off or continue. Good day. Will not trade in the first 5 min tomorrow. Will wait for a 5 min ORB, look for ABCD patterns and will look for MA's crossing. Thanks for the support and feedback!
  8. 2 points
    Hi Huntermac, welcome. I really like the second trade on SPCE. It's great to see setups on two different time frames. It was a good 15min ORB and on the 1min chart a good ABCD or cup and handle. Aimen, one of the moderators, would have taken that trade when the price bounced from the 9MA. I would have done the same as you and waited for the break out.
  9. 2 points
    1-21-20 AIS 0800, 5 hours sleep PAT: Revenge.... Over-trading Notes: First week trading a Live and Sim account together... Only PB#1 and PB#3 for Live all the rest in SIM 0920 How I feel 6/10 LK Live PB#1 .... 15min ORB with ABCD on the 2min.... I jumped the gun and did not wait for better confirmation on the 2min ABCD out at full stop...... -1R UBER SIM 2 trades off of 36.15 Level only.... tight stop on both.... first full stop second took 1/2 off to reduce risk and stopped out..... both times the Tape did a U-Turn on me..... -1R JD SIM PB#3..... Only reason for Sim was because the 5min had a new low..... touched all other points for PB#3.... Looked away from it and it hit my hard stop, I maybe could have saved some if I was watching it better.... -1R TCOM SIM PB#3 ..... trend trade ABCD on 1min should have been in at 1240 on the EMAs crossing also ABCD on 1min..... Took this on SIM because I was scared of what I did this morning..... Took a second trade same play... +6.6 Cons: Did not wait for better confirmation and jumped the gun on my Live LK trade.... Pros: Leaving the desk so I do not revenge trade came back and stayed in SIM for the TCOM trade Playbook Trade: TCOM Notes: Stay focused .... Rs: -1R Live +4.6R SIM
  10. 2 points
    Friday 01/17/2020 I had a well-being score of 7.5/10 this morning. I took 1 live trade this morning both with MU. My watchlist: SNAP, PINS, LK, AMD, TSLA and MU. Stuck with two stocks, on my watchlist, with no shares to short. I see Carlos had shares to short for PINS on CME. But I don’t on Centerpointe. Nothing really exciting on the watchlist so I chose MU by default on my main screen. MU gapped up in PM, but I had no bias. The big print hit only a few seconds after the open (~700k). 25 seconds after the open 3 signals occurred. We had a bearish 1min candle which just broke the 200MA-1min and a moderately sized bearish L2 signal. So I went short. PDC was my target and with $58 as my stop. Since my stop was tight I went half shares. My screen when I entered the trade (note the L2 signal): I was able to get 3 partials in before the price retraced, then due to a bullish L2 signal I exited the trade early. Though I would have gotten more of a drop if I used B/E as my stop I am proud of myself that I exited on the L2 signal which I have been trying to train myself to do. My exit signal: The total trade: What did I do good today? Exited a trade on a L2 signal. What I am grateful from today? Having MU on my main screen. What I should improve on: Was a bit distracted with my swing trades to take another trade though none of them actually needed my attention at the open.
  11. 1 point
    I have read some older posts stating it took 2 months. I was wondering how long it took other members to get their CMEG account up and running. Thanks BobbyN
  12. 1 point
    1-27-20 AIS 0800, 4 hours PAT: Focus.... SIM vs LIVE ...... Notes: Keep my eye on SPY Going to keep it a little more simpple here as I have spending way more of my limited time in my playbook INTC PB#1.1 2min ORB...... 1min setting up for an ABCD but never got there... I jumped the gun on this one...... the second entry was a mistake and covered right away -2R LK PB#1, PB#3 5min ORB with a pullback to the 9ema on the 1 and 5min, broke above VWAP with trend adds after the first partial.... alll partials were 50% and all adds back to original entry..... last entry exit was a second trade that I just took a BE on, this is where I should have called it a day..... +9R TCOM PB#3 .... Trending the 9 on the 5min ... stop was below PMH... three partials, add, partial, add, 4 partials leaving me with tiny share size... added back on twice for a grand total of about 25% of original size (these adds were pure speculation and I was only risking what profit was left which was nil) ... Also took some trades later in the day for a chop fest that ended up decreasing my Rs by 3 and I also let one of my stops run past.... -1R MRNA PB#3 Trending the 9 on the 5min with ABCD on the 2min, stopped out ..... second entry was still a trend that I should not have exited the first time, took two partials , add and all out...... First entry was apx 1/2 size and second entry was full size.... -3R CONS: Jumped the Gun.... Early exit... Over Trading in the afternoon... Let one run past my stop Pros: Had a nice calm morning and felt in control Playbook Trade: TCOM Rs: +3.5
  13. 1 point
    My Wife has been telling me that I have the head for Day Trading for Many years. In the past we have worked hard on a small business in Key West and since have always had Jobs along with some kind of retail business weather it was the Art store in KW, a Donut business, an online retail business that we still operate and recently an Amazon PL business. This last adventure cost us a few bucks but fortunately I was able to get ride of most of the product and not fall too far in the red. I have recouped enough for a small Day Trading Account. I talked to a few people at work about this and they all had the same thing to say "Its tough and no one makes money doing it" after talking with them a bit more I realized that they were willing to put the money in but not put the time in to educate themselves and of course they lost money. Most of them are still holding on to Bitcoin for the long haul. I decided to start reading some books on this and I started with Stock Trading for Dummies and realized that was not the right book for me. I then found Andrews first book and was hooked. I should have listened to my Wife a long time ago. It just so happens that I work nights Sunday - Wednesday as a Poker Manager from about 3:30pm to 3:30am (home to home) eastern time, so I am able to get a few hours sleep before I wake at 7:30am to get ready for my Classes I joined BBT as a Lifetime Member on the 4th of July. I was almost done with Andrews first book. I woke up in the AM to watch the premarket show and at the time I would follow along on Think or Swim. I did this till the 15th of July. From the first day of practice I did keep a journal on paper until now (I think I will still write it as I feel like doing it twice cant hurt help me remember). I showered last night right before bed. I woke today nice and fresh, brushed my teeth, made myself an espresso and ate a protein bar. I had plenty time to do some of my own research before Carlos came on at 8:30. The last 2 days I have been very happy with my premarket analysis as most of what I have is either on Carlos watch list or is a low float (which I can not seem to get the info from the Das Sim platform). 9:34 +MGM at 30.99 (should have been 30.90 but I was slow on the hot key) I partialed out at 31.13, 31.25 and 31.34 and got all out at 31.60. My stop was previous candle 30.89 and Target 31.61 from the daily charts Realized +25.63 I took this Slower moving stock in play as I felt more comfortable with it. 10:02 +INTC 52.62 P - 52.69 and out at 52.56 (again I was slow on the trigger on both) My stop was prev. candle 52.55 and Target 53.00 on 5min VWAP Realized +.50 My total day +26.13 This is at 100 shares of each. If starting with $5000 my 1% rule would have been 500 shares of each for a realized profit of +130.65 The last two days after I have decide I was done for the day I went back to just play around and try to learn more midday strategies I took -TWTR misread what I thought was a drop and lost out along with a reentry +TWTR and this time it fell, LOL my mini Hulk.... I know myself and If I was in for real money I would have never even come back to the market for the day. but I will add this ticker also so maybe I can figure out what I misread.
  14. 1 point
    Hey everyone, Below is the video on how to use the DAS Replay feature. Currently this feature is available on the BBT Simulation Version 5.4.6.0. Which can be downloaded at https://www.dastrader.com/download/fixes/DEMO.5.4.6.0.exe (When the feature is ready for production it will be release to other platform versions like IB, Centerpoint and CMEG.) Thank you
  15. 1 point
    Good morning Good day today. Took 2 trades: INTC and LK INTC 5 min ORB but I should have known that it was not a good idea as it was really wicki. Ah well LK 5 min ORB. Took it long and rode it all the way up until I was stopped out at my moving stop loss. Good day and I did see a lot of 9,20 and 50 MA crossing. I just watched it happen as I had already hit my 1% target for the day. Again, more confirmation of findings, which also feels pretty good. Thanks and have a good day!
  16. 1 point
    Hey, I just opened account with them and it went really smoothly. The whole process was 10 days(counting weekend), including one request of additional information, me responding to it day later, funding and account activation. They send 10 emails keeping me on track whats going on and giving instructions. Fast and easy. In my first email to them i told them that i would like to have demo account and use BBT discount code. They were up and running instantly.
  17. 1 point
    Hello Bobby, It took about a week to get the account approved. It took about 48 hours for the wire transfer to hit the account after I sent it. Biggest thing for the wire transfer is to ensure you follow the directions in your account portal for quick processing. Hope this helps
  18. 1 point
    Yes you do get the DAS simulator with thw CMEG account. Now that BBT DAS simulator has a replay feature, the 3 month SIM with lifetime package is not redundant. You will be able to practice trading anytime of the day. The BBT website still lists the discounted rate codes. I haven't heard anyone mention they are unavailable. I don't see Alliance mentioned anymore so I assume that broker has fallen out of favor. Since I left CMEG they have improved their rates substantially and I hear the customer service has gotten better.
  19. 1 point
    1-21 to 1-24-20 What I did bad this week: I jumped the gun not waiting on proper confirmation After talking about the 9 crossing below the 20 I still took a trade long I failed to get in on a couple trades with too much hesitation Missed a good add opportunity What I did good this week: My pre-market plans (IF/Thens) panned out Used L2 and T&S for adding along with patterns and MAs Left the desk to prevent revenge trading Feel like I found a good small group of 3 traders (including me) that I can relate to and stay calm with while trading throughout the day Changes to be made this upcoming week: Only PB#3 for Live trading Allow all time frame trading in SIM but only with A setups Starting this past week I have lowered my R value to $5 Rules to stick by this upcoming Week: After I call it a day by either MAX Loss, Profit Target or what I am comfortable with, only use the rest of the day for Chat, Journal, Playbook ect. In-Trade and Daily Stops Do Not chase or revenge trade Take only PB#3 Live Only one loosing trade before 1100 Challenges for myself this upcoming Week: Only A or better setups at time of trade No BBT Voice Chat before 1000 Take a planned break at 1100 for other Bus. @ 0905 do some exercise and then meditate to calm myself Stay unbiased Notes: Rules are not to be broken, these will cost money every time My Challenges are almost as important as my Rules, Pay attention to them If I feel overtired I will try going back to bed and coming back to Trend Trades later.... Goals and Rewards: +20Rs or more at end of the month to consider trading with more size in the future two months +21R for the week
  20. 1 point
    Ville, my trades appear on CMEG portal around 2-2:30 am Eastern time.
  21. 1 point
    Hi BBT, Some of you were curious about my workout routine during the SF meetup a month ago, so I thought I would share. How healthy your life outside trading will inventively affect life in the trading room. At the very least, discipline, structure, pain, and patience can transfer back and forth. I work out for 2 hours every other day, unless my day job grinds me to take an extra day off. I did not list abdominals, as I simply do a variety of hanging sit-ups, windshield wipers, and leg raises a few times a week. Also listed are my supplements (I buy raw supplements off Amazon and mix, it's cheaper and healthier to make your own).
  22. 1 point
    Hey, sorry for the late response, I am still recovering from PRK eye surgery, it did stop me from trading but not from working on my gainz. So if you were a beginner, keep your workout shorter, probably no more than an hour each session otherwise you may injure yourself, mostly in your joints by gaining the flexibility and stamina for longer more intense workouts. Over working out will slow your progress and fatigue your nervous system. Do about 4 exercises per session, 2 per body part, and 2 body parts a day. One compound movement and 1 isolation, example would be like a barbell bench press, then a dumbbell bench press or a barbell curl and the a concentration curl, and you're done for the day. Then for the full body lifts like deads or squats, just have that as your workout day, it should take you an hour to do say 5 sets of those with warm ups. DO NOT bother with a personal trainer lol, they will take your money but you will learn best by your own trial and error on what your body tells you and your own research, like youtube, t-nation, etc. Kind of like trading, trade with a community and learn from them, but trade on your own, no hand holding.
  23. 1 point
    1/24/2020 Well, today did not go too well, but that's part of the learning curve. Some of my bigger goals right now are to develop my rules and be consistent with them no matter what. I'm trying to work more on accepting losses and making sure that I stick to those rules so they remain small losses compared to my wins. One positive from today is I sold off where I set my stop losses on my losing trades. It's easy to Monday night quarterback your trades and say "if I just held on it would've eventually gone down for that short!" Ultimately, it kept my losses down and my one win from today was a great return and almost made my day neutral versus red. I found myself not focusing on one or two particular stocks during the open. Because I'm so new to all of this, I find the need to find every trade setup possible for my strategies, which ultimately works against me because I'm missing out on stocks I had been previously watching because I'm too busy watching 4-5 other stocks. Anyways, today I want to go over four trades that I took. Only one of the trades was a winning trade. First two trades: BYND. I tried to take a 5m ORB. I was shooting to take my first partial at or near the high of day and judge from there if I was going to go all out or ride it out. It did not work out, the price (very quickly) shot back at me and jumped below my stop very quickly, I got out with a greater loss than I wanted. The second BYND trade. I saw the stock pulled back to VWAP and struck resistance at it. I took the trade short however, I stopped myself when it began to peak over VWAP, where I set my stop loss. I didn't have another level to really judge the stop loss on. It sucked because the trade eventually did plummet about 45 minutes later. I did not continue to monitor the trade because I felt like I would be getting myself stuck in a range + I already had two losses on it, so I moved on to other tickers. Third trade was AXP. I tried to trade this as a 15m ORB. It broke the body of the previous 15m candle, I went long. The stock immediately turned around on me. I saw the stock go below VWAP on the 5m and stopped myself out. Fourth trade, and the only winner for the day was INTC. I saw a good ABCD pattern in the beginning of the day on both the 5m and 15m charts. I saw it found support at the VWAP. I set my stop loss just above the 20EMA which was close below VWAP. I took partials all the way up to about 68.85. Not real sure what my logic was when I took that first partial at 68.25. I probably should have held longer and started easing out later than I did.
  24. 1 point
    Friday 01/24/2020 I had a well-being score of 7/10 this morning. I took 2 live trades this morning with INTC. My watchlist: INTC, SYF, AXP, TSLA, SNAP and AMD. I liked INTC and thought it had room to run. I was planning to take a 1min ORB or when the price breaks $67, which ever comes first. Then my DAS platform crashes at the open. I quickly restart it. I then hear Andrew complaining about the same issue. But the way I have my platform set up you can’t quickly restart. When DAS was back up I see I missed my entry on INTC. But not by much so I went long. The price immediately stopped moving as soon as I enetered and I was feeling uneasy about the trade. Then I heard Brian say he took INTC. The price then popped up a little and I took a partial and set my auto stop at B/E. My stop was triggered in a few seconds. Then looking at the setup it looked good for a long again, so I got back in. This is usually difficult for me to do. Then I heard Andrew say he went long INTC. My target was $68 with 67 as my stop. I took a quick partial out of nerves than a second one at the 1min high. Then as the 5min mark approached it looked like a great 5min ORB or ABCD. But it’s usually a disaster when I add into a trade. But I could feel it was the right thing to do. Then luckily a L2 bullish signal hit and I added in. The L2 signal when I added: Then I took a partial quickly due to nerves of adding. But then my partialing got better after that. Then all out when the price broke through the 9MA and created a reverse hammer. What did I do good today? Got back into a trade and added into a trade. I usually have issues with both of those. What I am grateful from today? Recovered quickly from IT issues. What I should improve on: I am happy with my trade today.
  25. 1 point
  26. 1 point
    Hello fellow members! Yesterday i had some discussion with a friend and i tried to explain him some trading basics and we came to a point when i needed to explain to him why the scaling out properly plays an important part in the whole mechanism and can make the difference between a GREEN and a RED trader in long term. So here i am providing it to you for further discussion. Lets say we do 5 trades of a stock which costs $100 and we take 100 shares with the stop loss on $99.5 and possible target on $101 and above. So a 1/2 Risk/Reward. Here are some example set of trades you do, the first one being a 1R loss, just to make it more visible and make the point So you do various methods of scaling out and make $300, while risking $250. At least you are green! Right? Now lets take into consideration some bad or good habbits. If you do it once, then you do it twice... You would think that things will get much better if you start scaling out on 1R at least but still the risk and reward turns out to be 1:1 in total. So you start to scale out according to the trade plan - by reaching the 2R Things change dramatically in your favor if you start to do the right thing and trade the plan And this is the case some traders tend to do - take some profit at least to be safe... As you can see, it has no ratio to do this and even with 80% accuracy of your trades you do not get the scale on your side. So just do it right! The above examples counted with 4 of 5 trades to be green which is 80% accuracy and that is quite unrealistic. If you count it with 3 RED trades, the numbers are even worse! See below And the requirement of scaling out properly to keep the green numbers is even more obvious! Even 3 RED vs 2 GREEN (40% accuracy) makes you a profitable trader. If you struggle with it, ask your self: Why can you wait for the stop loss of 1R and not the profit of 2R (at least) you planned in your trade? I hope this helps to understand someone the importance of scaling out properly and not too soon. Now go to see your trading journal and see what you did cheers PeterB
  27. 1 point
    Thanks Mike. Sorry about the multiple questions. And congrats on becoming a moderator. I just noticed you are on the right side of the chat now.
  28. 1 point
    Janaury 23, $PCG I feeling a little behind the markets all day today. Missed a 5 min Orb on $MU, and a 15 min Orb on $JD. I knew coming into today that I was just not on top of my game. I wasn't tired but I could just feel my mind was not operating at the speed it was the past couple of days. I was able to keep myself calm and I got a setup for a breakout on $PCG. I was a little worried about it prior to entering because, I just like the previous trades, I had missed my normal entry. If you look you can tell the entry came on the second time it broke the price level. When I saw it hold the moving average and go for the break, I decided to enter anyways. I should have moved my stop up from my original stop and it would have given me a better risk to reward. I ended up cornering myself and introducing added friction to the trade as I was on a time crunch with taking my daughter to school and I had not gotten the partial yet. I have no plan for this situation, so tonight I developing a plan when this happens again. I was lucky and got the partial prior to leaving and set a range order for my 2R level. As it is a morning trade I only look to get to 2R on this. Overall, a good day and I will take it. I am not worried about the run afterwards, because it in not within my current plan. Maybe later I will start at looking to take advantage of these. Once I get through 20 of these moving average breakout trades, I am going to consider looking at increasing my risk per share. But for right now I need to gather data on this setup.
  29. 1 point
    I usually look on the 1 or 2 minute chart for the touches. Once you start looking for them you will be surprised at how easily they jump out at you.
  30. 1 point
    Mike, Any particular time frame (1min chart?) you look for the resistance/support touches?
  31. 1 point
    Mike, thanks for the explanation. Let me know if this is correct: 1) 9/20 cross on the 1min 2) 5/15min low/high in the wrong direction vetoes trade 3) 9/20 sloping towards 50MA on higher time frames 4) Watch/wait for support/resistance levels. 5) Entry on L2 signal beyond the support/resistance levels. So which longer time frames do you need for step 3? I know the more the merrier. But is 2min enough or you need it on 2/5/15min? Do you look for the min of 3 touches of the support/resistance like Thor? Do you need to see a ascending/descending triangle? How large of a Bid/Ask do you need to see to call it a signal? Thanks again. Due to my recent start in swing trading and looking for a good entry, I inadvertently started taking trend trades. Which I now better learn fast before the bull market disappears.
  32. 1 point
    Thursday 1/23/2020 Internet outages in my area. No intraday trading this morning. I managed my swing trades by smart phone. I hope everyone is having a green day!
  33. 1 point
    Hi Mike, First of all nice trade on MU. Thank you for the hot key script...it worked great today. I had been struggling with order getting rejected from couple of weeks. I had 3 trades on SIM today and keys worked perfect. Good luck for tomorrow.
  34. 1 point
    Hi Mike, great MU trade. I have noticed you seem to be entering trades just before the MA cross over. Which is a great advantage if you can predict it. Is this planned? How do you do it? Do you enter the trade when the fastest time frame has the cross so it preempts the MA cross on the longer time frames?
  35. 1 point
    Wednesday 01/22/2020 I had a well-being score of 7/10 this morning. I took 2 live trades this morning with FB and IBM. My watchlist: NFLX, FB, SPCE, TSLA, IBM and AMD. I didn’t like the watchlist today and considered trading in SIM. IBM and SPCE were OK, but I didn’t have shares to short for SPCE so I had IBM on my main screen. The other stocks were just filler, but didn’t like them. I was watching IBM for a long. A resistance level formed the last 15min of PM and a level at 143.65 looked like a good place to go long. But IBM opened with no volume. Looking around I saw FB with a strong open on volume. When I brought it to my montage I immediately noticed a L2 bullish signal and went long. The price instantly reversed and I stopped out when the price broke the 222.29 tech level. L2 when I took the trade: The trade: The plan I had for IBM was to go long when it broke the 143.70 level that was respected in the last few minutes of PM. But I was trading FB when that occurred. So I went to plan B, which was wait and plan to go long when it breaks the daily level at 155.59. As I was waiting I heard both Brian and Andrew say IBM looks strong. I usually do not get influenced by the chat very often. But FOMO was high missing the entry I wanted, so I went long slightly early. The price immediatley bounced off of the 155.59 and sailed lower. My stop was the 143.91 daily level but it flew through that I got a terrible fill for a -2R loss. I then promptly shut my platform down and walked away. What did I do good today? I did think the FB trade was fine and executed well. It just didn’t work out. What I am grateful from today? I was able to turn off my platform and walk away. What I should improve on: My plan for IBM was fine, but I let FOMO get to me. I need to listen to CB. If I do that again I may start wearing this T-shirt every morning. It reminds me that FOMO is such a childish emotion and I should be able to control it.
  36. 1 point
    1-22-20 AIS 0810, 4 hours PAT: A or better setups..... Playbook Only..... Notes: Only PB#3 Live..... Montage on SIM for first 10 to 15min only..... 0925 7/10 IBM SIM PB#1, Live PB#3 PB#1 and PB#3..... First 5min ORB with an ABCD on the 1 na d 2min Partials and add all the way to 0954 and all out at BE +1.3R .... second trade for trend.... I called out the 9ema crossing the 20 on the 1min and for some stupid reason I still took it long..... hard stopped for -1R + 0.3 R JD SIM PB#3.....Trend with ABCD on 2min, a bit late..... took partials and set a Range for lunch and came back to all out at BE..... +0.6 R Cons: Took the live trade against what I was talking about.... Pros: Playbook Trade: Notes: Rs: +2 SIM -1 Live = +1 R
  37. 1 point
    Mike thanks so much for the heads up. Automating this would really help me out with controlling my position sizing allowing me to better calculate my expected risk and expected P/L. Excited to try this out, think this will make my life a lot easier!
  38. 1 point
    Hey there, 1. You shouldn't have to change to limit. The only thing I notice different is you have no variance in your price. Everything is set to 0. I would try to change it to .01 and see if that helps. I have not had any issues getting filled at the prices I want with the scripts below. 2. Yes definetly change the TIF to "Day". Once you go live if your script or montage is set to "Day+" it will not execute. I learned that the hard way. 3. Here are my hotkey scripts Live Script Long StopPrice=Price-0.01;DefShare=BP*0.97;Price=Ask-Price+0.01;SShare=17/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare;TogSShare;ROUTE=SMRTL;Price= Ask+0.05;TIF=DAY;BUY=Send;DefShare=200;TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0.1 ACT:SELL STOPPRICE:StopPrice QTY:Pos TIF:DAY; Short StopPrice=Price+0.01;DefShare=BP*0.97;Price=Price-Bid+0.01;SShare=17/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare;TogSShare;ROUTE=SMRTL;Price=Bid-0.05;TIF=DAY;SELL=Send;DefShare=200;TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice+0.1 ACT:BUY STOPPRICE:StopPrice QTY:Pos TIF:DAY; SSR DefShare=BP*0.97;Price=Price-Ask;SShare=17/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare;TogSShare;ROUTE=SMRTL;Price=Ask;TIF=DAY;SELL=Send;DefShare=200; Sim Script Long StopPrice=Price-0.01;DefShare=BP*0.97;Price=Ask-Price+0.01;ACCOUNT=TRCME0877;SShare=17/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare;TogSShare;ROUTE=SMRTL;Price= Ask+0.05;TIF=DAY;BUY=Send;DefShare=200;TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0.1 ACT:SELL STOPPRICE:StopPrice QTY:Pos TIF:DAY; Short StopPrice=Price+0.01;DefShare=BP*0.97;Price=Price-Bid+0.01;ACCOUNT=TRCME0877;SShare=17/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare;TogSShare;ROUTE=SMRTL;Price=Bid-0.05;TIF=DAY;SELL=Send;DefShare=200;TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice+0.1 ACT:BUY STOPPRICE:StopPrice QTY:Pos TIF:DAY; SSR DefShare=BP*0.97;Price=Price-Ask;ACCOUNT=TRCME0877;SShare=17/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare;TogSShare;ROUTE=SMRTL;Price=Ask;TIF=DAY;SELL=Send;DefShare=200; Let me know if this helps, or if you are continuing to have issues.
  39. 1 point
    Tuesday 01/21/2020 I had a well-being score of 7.5/10 this morning. I took 3 live trades this morning both with MS, TSLA and JD. My watchlist: MS, TCOM, AAL, JD, TSLA and TAL. I tried my first ever rising devil trade on MS this morning and was stopped out. I have never tried it before so I went half shares. MS gapped down and was heading into the open weak. It popped at the open and I planned to split my shares into two. I would short at the $56 mark and again at the 56.18 tech level. My stop would be at a PM level at 56.36. I stopped out a little early. The good news is I lost exactly the planned -0.5R. So at least the risk management was well executed for my first try at this setup. TSLA was showing its usual strength. I missed the 1min ORB but at 3 minutes it was breaking a daily level (3 days ago close). So I went long at the break. Stop was tight at 537. I took a partial at 1R and set my stop at B/E where it immediately was reached and I was stopped out for a small profit. JD was showing strength but not very good volume. So I went half shares on a 5min ORB. I entered a little early when the price broke the 39.40 level. Shortly after a huge bullish L2 signal appeared on the ask so I added the rest of my shares to my position. My stop was the all the way to VWAP with a $40 target. L2 when I added shares: I tried to take partial profits at the top of each 1min candle. My second partial was taken because I was giving up on the trade, but the price popped higher as soon as I took the partial. What did I do good today? Tried my first rising devil trade and maintained good risk management. What I am grateful from today? A profitable JD trade making my day well into the green. What I should improve on: Keep practicing the rising devils.
  40. 1 point
    Mike, amazing analysis and keep up the good work in 2020.
  41. 1 point
    Hello everyone! Me and the team usually get a lot of e-mails asking for the hotkeys we're using or for some simple hotkeys; Therefore, we created a list of the most frequently used/asked for hotkeys. This is just a beta and short version, and we will keep adding to it depending on your request. This list will be worked on not only by us moderators, but by you as well if you wish! Please share in the comments some of the hotkeys you use a lot which aren't in the list and we will definitely update it, you can also ask for any hotkey you think you miss, and if any member replies with it in the comment it'll be also added to the list! https://docs.google.com/document/d/1zLMOpPymZfydidPuu_e0HXjvMjHCUbUoaWgVWab5DO8/edit?usp=sharing The hotkeys have been tested in DAS trader DEMO account and DAS/IB, still make sure to test them in simulator before trying them live! Thanks all.
  42. 1 point
    1-13 to 1-17-20 What I did bad this week: Rules Broken: Chasing on a few occasions, Over-trading a couple days along with trading more than 1 loss before 1100 on Fri., Listening to Chat on Wed and Fri before 1000. Traded past my max loss for the day. Traded with bad management and did not read the tape on three trades Took too small of size on an A+ setup Pre-Market: Did not do my research on one day, Did not meditate on two days What I did good this week: Took A+ entries on three trades with size Used the Tape for trade management on two trades Planned IF/Then Pre-Market on two trades Changes to be made this upcoming week: Will trade SIM for the First part of the Week and only if the first two days I follow my Rules will I go back Live and with very small size... Rules to stick by this upcoming Week: After I call it a day by either MAX Loss, Profit Target or what I am comfortable with, only use the rest of the day for Chat, Journal, Playbook ect. In-Trade and Daily Stops Do Not chase or revenge trade Make sure I only take PB#1 or PB#3 trades Live, All others in SIM Only one loosing Live trade before 1100 Challenges for myself this upcoming Week: No pre 5min trading unless I have a clear plan in place Only A or better setups at time of trade No BBT Audio between 0945 and 1000 Take a planned break at 1100 for other Bus. @ 0915 do some exercise and then meditate to calm myself Stay unbiased If I feel overtired I will try going back to bed and coming back to Trend Trades later.... Notes: Rules are not to be broken, these will cost money every time My Challenges are almost as important as my Rules, Pay attention to them Goals and Rewards: +10Rs or more at end of the month to consider trading with more size in the future two months -5.7 for the week
  43. 1 point
    1-6 to 1-10-20 What I did bad this week: Took my eyes off of one of my main stocks in play and missed one of my setups Chased a couple trades this week Left the Chat on and participated in a Chat group before 1000 last two days What I did good this week: My pre-market plans (IF/Thens) panned out Used L2 and T&S for adding along with patterns and MAs Feeling better about my in-trade management Getting better about trusting my entries when they present themselves Changes to be made this upcoming week: Make sure I only take PB#1, PB#2 or PB#3 trades Rules to stick by this upcoming Week: After I call it a day by either MAX Loss, Profit Target or what I am comfortable with, only use the rest of the day for Chat, Journal, Playbook ect. In-Trade and Daily Stops Do Not chase or revenge trade Make sure I only take PB#1, PB#2 or PB#3 trades Edit: Only one loosing trade before 1100 Challenges for myself this upcoming Week: No pre 5min trading Only A or better setups at time of trade No Voice Chat before 1000 Take a planned break at 1100 for other Bus. @ 0915 do some exercise and then meditate to calm myself Stay unbiased Notes: Rules are not to be broken, these will cost money every time My Challenges are almost as important as my Rules, Pay attention to them If I feel overtired I will try going back to bed and coming back to Trend Trades later.... Goals and Rewards: +10Rs or more at end of the month to consider trading with more size in the future two months +6R for the week
  44. 1 point
    Hi folks, here is a copy of the playbook template I discussed in the Feb 14 recap. The file is obviously a sample meant for each individual trader to complete with their own strategies, patterns, and setups. https://drive.google.com/a/bearbulltraders.com/file/d/1bmu3XzT_KtzTfya2Fo7Uqc7DZG_N7q-B/view?usp=sharing Please download a local copy as .xlsx
  45. 1 point
  46. 1 point
    Hi traders, I like to discuss in this forum why having a daily profit target is important. Why I am walking away after I made some decent money, and stop trading. Why? I do not honesty 100% know what is the secret in it, but I found myself losing statistically significant after made my daily goal. What is the reason? I read about having a daily goal, but I never learned why. Can you discuss this here? I love to hear your stories and ideas? You might discuss anything you think it is relevant. like: 1 .You do not believe it is true, and since each trade is independent of others in probability it should not have any effect. 2. Psychology plays a role, you look at your P&L more than focus on good trading. 3. Time of the day? As time goes by, market gets choppier. 4. ...... Help me in this discussion as I like to have it my next book on psephology! THANK YOU for being with BearBullTraders!
  47. 1 point
    Not a quote..but still true...
  48. 1 point
    I couldn't login, it was saying Wrong trader. I contacted DAS support and they told me to use FREE as Firm ID. It worked. Firm ID: FREE Then you can press Done and it will populate this info (or enter it manually): Order IP: free.dastrader.net Order Port: 6500 Also: MPID IP: balance.dastrader.net MPID Port: 4001
  49. 1 point
    10 Best Reasons to Quit While Ahead The discussions is whether it is best to stop trading, even very early in the day, if you have made “your money” (whatever that is for you). For me, a relative newbie (just went live 2 weeks ago after 8 months in Sim) the answer is YES - better to stop. Here are my reasons why: Part of Risk Management - right there with setting stops (hard or mental) and putting controls on your account. Don’t let “trading” become an “addiction.” Keep it in moderation in your overall lifestyle. 8. The mathematical laws of probability - even though every trade is independent, odds favor a neutral outcome over a lot of events. Even if the mathematical odds mentioned in 8 are not activated, the psychological knowledge of this likelihood may play on you in the background of your mind. Time of Day - If you have made some money, some time has passed, and the longer you stay in, the more conditions change. So, whatever type of trade you like best will wane as time goes on and you will need to be thinking about a different strategy, which can be challenging and add to likelihood of diminishing returns. 5. If you do stay…. - It is very natural to want to have another good trade, and there is nothing wrong with staying, but if you do, make a change to your rules. For example, only take the very best setups, or for experimenting switch to simulator, or do NOT let yourself give back more than X percent of your gains (I suggest 10%). Then you can still walk away proud and yet have tried to improve on the already good situation. Helps you stay with A+ trades - If you adopt the suggestions in #5, then you only allow yourself to take A+ trades if you do stay because Who wants to give back money? This general concept of cautious selection of trades will spread naturally into the times before you “make your money” - not just after you do it. 3. Minimize self-loathing - If you have not felt this after giving back what you worked so hard to earn, then you are not yet trading - even in Sim. It is universal. But, it does not have to continue to happen. This mistake does not have to be repeated. Try waling away a couple of times with some good early profits and notice how good it feels for the rest of the day. More time to learn - If you love trading, you probably also love reading about trading, watching videos about trading, thinking about trading strategies, etc. So, just because you have stopped trading for the day, does not mean you can not be engaged in other exciting trading activities. Have time and better energy for your journal and other trader improvement activities. AND, the number 1 reason to stop trading after making money is: RESPECT and PROTECT your account and live to trade many more days. Now, if I can only listen to myself….. Regards, Emily
  50. 1 point
    Personally, I have trouble stopping at times because I've had success making significantly more than my goal. So the thinking then is if I stop when I've "only made $500" then how am I going to make that $2,000 that I made the other day. I'm giving up a lot of upside by stopping at my goal...or so the thinking goes. The counter to that is one day I kept trading because I had a very good read on a particular stock and racked up +$3,000 after fees. Because I was trading so well, I continued and went on to give all of that back and end the day down $2,000. So did I really "make $3k"? No, I lost $2k because I didn't stop trading. I'm still in the middle of developing a strategy to deal with this sort of thing but what I'm leaning towards a two pronged approach. First, while individual daily PnL are important, I'm beginning to focus more on the week. I'd like to make $500+ per day so roughly $2,500 per week. This week, I made roughly that amount on Monday and Tuesday so my goal is to not jeopardize that for the rest of the week. If I hit my goal for that day I have to stop. I can't afford to turn a win into a loss because I'm looking at the week, not just the day. The second thing I'm working on is once I meet my goal for the day if I chose to continue trading then I have to cut back my sizes so as to not jeopardize profits already made. If I'm still trading well I'm still making money but if I revert to the mean I'm losing less than I otherwise would. I've been trading live for less than two months and have had good stretches (+7k over 10 straight green days) and really really bad stretches (-12k over three days in one week to give back all my gains and then some). Right now I'm pretty much right at break-even from when I started and I'm tweaking my trading rules every few days as I learn more about how I'm trading and where my problem areas are. Trying to limit the max losses, etc. Ultimately it will be the psychology and my ability to formulate and follow rules that mitigate negative psychological tendencies that will determine how successful I am in the long run.
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