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Showing content with the highest reputation since 09/12/2020 in all areas

  1. 2 points
    I'd love a webinar dedicated to the journey of our mods. It could be structured as: 1.Backstory of how they got into trading 2.Their path from SIM to Live, 3. The grueling first year 4. The intermediary phase where they became more profitable 5. All the unique pitfalls they faced along the way 6. Where they currently are at now. It doesn't have to be a webinar, but could even be a dedicated spotlight section on the website, interviewee/sleek editing style. I think it's interesting to see how far people have come, and in their stories there are always nuggets of truth that help other traders along the way. Sorry for calling you out mods! But you guys rock and love to learn from you guys.
  2. 1 point
    DAY – 9.18.2020 Trades: 3 Symbols: 3; 5 (DT: AMD, SPY, DKNG; Swing: IBM, WKHS, BA, APA, WDC) Psychology: Slept well, routine breakfast and preM show paired with PreM preparation. 1. Did you take 20-30 deep gut, clear mind breathes? – PASS 2. Did you review your Daily Psychology Dose? – FAIL 3. Did you prepare your pre-M checklist for ORB? – PASS a. Did you rehearse long and short possibilities? – PASS 4. Did you review your Big Picture document? – FAIL Goal for the day: Day Trades – Work on 2-min ORBs and find one or two PRs and CRs; Swing Trades – Manage partials/exits and average downs according to pre-set plan Daily Market Wrap-up & Week in Review: SPY has fallen below the 50 SMA on the daily, not a good sign for bullish sentiment. It was range bound and moving upward from 1:30 - CB but did so on low volume which also does not bode well for bullish sentiment. The Energy sector (XLE) ETF was at the bottom of the list with Health barely ending the day positive. In terms of weekly performance, Healthcare and Industrials lead the way, Financials and Energy in the mild and Communications Services leading the 'red' pack. WL: DAY TRADES: SWING TRADES: WKHS Broke $30 today, I am still holding some shares for the break out above $30. IBM: Added to my position on yesterday's PB. Holding this as big money rotates into 'safer' equities as elections approach. AMD Entered a swing at the low of day to hold over the weekend . Final Review Goal for Day: 8/9, PASS 1. Only trade the opening 5-mins if consistently trading symbol and confident with its move – FAIL 2. Partial/average down or exit swing positions (according to pre-plan) – PASS 3. Work on better entries – PASS 4. Reduce amount of premature entries due to not waiting for strategy set-up to 'occur' and 'confirm' – PASS 5. Only trade the symbols on your WL, BBT pre-market stocks in play, or TI scanner – PASS 6. Do not trade without P/L on screen or in mind – PASS 7. On green symbol stop trading it for the day if lost any amount of green P/L – PASS 8. 3SYO – PASS 9. Enter trades with small position, upon confirmation of ‘move’ add to position on PB – PASS #6 and #9 are game changers for my confidence and trade management. Things I did well: Stay patient with a trade where I had to average up on waiting for the move. I did not chase any entries at the top of a range or at the D position of an ABCD pattern. I did not break my rule of only taking 3 trades today, outside of my ORB. Things I did poorly: Broke a rule set-up yesterday - I was playing a game: Take a trade in the morning and if I 'won' the trade then I could take a second trade. broke the game rules. Needs Improvement: Last few weeks I was doing a good job of performing comparative VPA checks – before entering a position I was comparing similar volume/candle bodies others previously formed during the day (1-min and 2-min chart). This was helping me get better entries. I NEED TO GET BACK TO DOING THIS CONSISTENTLY.
  3. 1 point
  4. 1 point
    Has this been done? If so, where can I find it. Thanks!
  5. 1 point
    hey everyone, My name is Jesse and i live in vancouver canada. i have been swing trading and theta based options strategies for the last year or so with good success and now im looking for something more active like day trading. hopefully after a couple hundred hours or so i can transition into a live account. I have been working as a paramedic in vancouver for the last 8 years but i have recently quit so ive got lots of time to read and learn about day trading!
  6. 1 point
    What up Kev! The top T&S only shows orders greater than, or equal to 2000. The bottom T&S shows all orders strictly less than 2000. Here are the settings... top bottom The top gets ride of a lot of the white noise, for example I took a trade on $NKLA yesterday when I felt the bulls were gonna rally, and here is what the tape looked like after it broke $29.00 (from the bottom) The top T&S tells me if the bigger players are interested in the move, and the bottom one gives confirmation by the rate at with which orders are being processed. So if price is pressed up against some key level, lets say $29, and some large orders starting going through the ask at 29$ , and my bottom T&S lights up green, it's pretty fair to assume we're gonna break that level with a lot of momentum.
  7. 1 point
    Hi everyone, I am in Southwest Louisiana. I am a registered nurse, I have been in home health for 20+ years and I have been wanting a change but didn't know what direction to go where I could still make a comparable income without having to start all over again. I have always been interested in the stock market but it was never as easily accessible (internet, free broker accounts, no fees, tons of literature). I read a few market books and discovered Andrew's Day Trading for a Living which also got me to BBT and all I want to do now is learn more. I haven't been this motivated about anything in a long time!!! I love the format of the education and community here. I am in the intro membership now, I haven't committed to Lifetime....yet because I am extremely cautious with money, I will not be the one who "loses it all in the market" lol. So now I just have to make a plan and execute!!!!!
  8. 1 point
    Hola compañeros hispanohablantes ! @Abiel me comentó que sería buena idea enlazar aquí el video que hice para explicaros cómo uso las teclas rápidas en TWS con chart-trader, que es la herramienta de trading directa en el gráfico que provee la aplicación. Es bastante más potente que DAS y me pareció interesante compartirlo. TWS es una herramienta muy potente a mi parecer, que sólo se queda atrás en DAS para el scalping. Espero os guste ! Saludos, Pablo PS: @Andrew Aziz @Thor if you consider that this video might help others, we might try to translate it into English too
  9. 1 point
    See chart and table attached comparing CMEG standard rates for small/medium/large trading volumes versus BBT discounted rates. I wanted to see how good the BBT discount was compared to CMEG standard rates and fees for an Active Trader account. And also see how this changes with respect to number of shares traded. Turns out the BBT discount is pretty substantial. (Thank you @Andrew Aziz) Especially if you're a low volume trader. For example, compare $5/trade VS $1.55/trade at 200 share trade size. That is, assuming my data is correct... Please let me know if you see any errors here. Fee structures are from 7-12-19. CMEG fee structure varies based on monthly share volume. I call them "small" (<350k shares traded per month), "medium" (350k-1M), and "large" (>1M). References: CMEG Active Trader Account Pricing CMEG ECN, SEC, and FINRA Fees CMEG-BBT Promotional Rates CMEG Standard Rates - "Small" Active Account (<350k shares monthly volume) Commission Rate: $3.95 up to 1000 shares/trade or $0.007 for trades > 1000 shares. ECN Fee = ~$0.004/share (rough estimate) CMEG Standard Rates - "Medium" Active Account (350k-1M shares monthly volume) Commission Rate: $2.95 up to 1000 shares/trade or $0.005 for trades > 1000 shares. ECN Fee = Same as small CMEG Standard Rates - "Large" Active Account (350k-1M shares monthly volume) Commission Rate: $1.95 up to 1000 shares/trade or $0.0035 for trades > 1000 shares. ECN Fee = Same as small CMEG-BBT Promotional Rates (when using SMART LAMP route) Commission Rate: $0.004/share ECN Fee = $0.0025/share SEC and FINRA Fees (same for all account types) SEC Fee = Stock Price * # Shares * 0.0000231 FINRA Fee = # Shares * 0.000119 ($5.95 max)
  10. 1 point
    Could you consider doing a webinar on scanners in the BBT chat and examples of how traders are using them?
  11. 1 point
    Hey folks, My name is Gar and I'm from Ireland. Happy to say that as of September, I can finally give day trading the time it deserves and see if it's something that suits me. I work as a pharmacist and currently have the luxury to pick and choose which days I work which frees up my weekdays to trade. Can still work at weekends and whenever else I need to. Would love to make trading my main source of income. It's good to dream! But i'm well aware of the challenge before me and the next few months will tell a lot. I plan to trade in sim until the end of the year at least, probably longer. Trying to focus my learning on VPA and learn from the master himself @Thor . I also really like @PeterD and @Aiman Almansoori trading styles but to be honest I can see myself learning bits from everybody in this community. Looking forward to getting to know you all!
  12. 1 point
  13. 1 point
    IMHO try this for a stock and see if u get a better pic 1. Add a T&S widow between chart and montague 2) On chart, config it to show BID/ASK and remove LAST PRICE so its not too much being displayed. 1 min chart only. This will also give u feel of spread easier IMHO. 3) When watching tape focus ur eyes on topline T&S while ur peripheral vision is on chart to left of T&S and montague on the right. Try i c if u get a better feel.....LAST PRICE will be in TS
  14. 1 point
    Here is a sheet for the 'Parabolic Reversal'. All the information is from Aiman's most recent success webinar, which was awesome! The photos in this one are pretty small but they work for me. If you would like the word documents just send me a message with your email and I can send them your way. I've never taken a parabolic reversal but I look forward to watching for these as another trade option! Parabolic_Reversal.pdf
  15. 1 point
    Hello, Thank you all for the positive comments! I've made a few more sheets in the same style for three more strategies. Here they are: 1-Minute Opening Range Breakout (ORB) 1_MIN_ORB.pdf Rising Devil Rising_Devil.pdf Falling Angel Falling_Angel.pdf I personally have taken very few Rising Devil and Falling Angel trades, but they are strategies I want to practice. So bare that in mind and use these sheets as supplementary, "at a glance" information, to the content provided on the BBT website and YouTube. Here are the videos I grabbed the examples for the Rising Devil and Falling Angel strategies from: Meir Rising Devil Recap: https://youtu.be/uhgZ7ohqExI Thor Falling Angel Recap: https://youtu.be/Q1oCiT1hOug
  16. 1 point
    @Kendrick C. What Up Ken! First, I want to say that I'm still learning too and there's a lot to say on this topic, so the following is my opinion... To start, I spent around 30 minutes just watching the market before I took that triangle play on $PLUG, and in that time a lot of plays went without me, you just have to accept this, even plays that I am 95% sure are about to happen I'm okay going without me if I can't limit my risk, there are a lot of times that I need a stock to pull back to a resistance/support, retest, then I can enter with a tight stop, if it just goes, it goes, it's not worth chasing, even if you did enter and it did work, you're just reinforcing a bad habit that'll bleed you out as time goes on. You don't need to hit every trade you see, if you can trade the first 1 hour the market is open and take 1-3 A+ setups, and you get very good at managing your trades, you can make excellent R's per week, I'm talking 15+ R's per week which is actually amazing if you extrapolate it out for even just a year. So, with that out of the way, I believe that a first principle of price action is that VOLUME moves PRICE, i.e if nobody is interested in buying and selling shares, the price is not going to move, notice $SPY during the covid breakout Larger volume => large price moves When a stock has a catalyst day traders get excited because the volume for that particular day should be significantly higher than previous days (this is called RVOL) and.. increase in volume => more significant price movement. So, all that being said, i look for stocks that have a significant catalyst (downgrade/upgrade, some novel news, maybe earnings, anything i feel is significant) OR are trading with high volume in the pre-market (more on that later) Typically stocks that have a strong catalyst are trading much more than usual in the pre-market, but it's not always the case. I pull my stocks from 3 different sources, the first is a list I keep on hand of around 20 stocks that typically have moves intra day, have a pretty good spread, and decent float. Here is that list... Second, I look at the BBT pre-market show on youtube and go through EVERY single stock myself, I look each stock up on finviz.com, I look for a catalyst, I look at float, I generally look at ATR (I just want to see it .50+ really), I look at the level 2, and I look for daily levels / pre-market levels myself ( this is so important imo, in the beginning you can rely on carlos / norm, but you should really be finding your own levels and making your own game plan) Third, and one that I'm really surprised more people don't do...I have a volume scanner that I run right when I open up DAS, here's what the settings are ... Typically I get about 5-15 stocks to pop up and I sift through those, the ones that have good, tradeable levels, or just insane volume, or just anything that I think is interesting I'll look up on finviz and add them to my list of potential stocks for the day. After adding the BBT stocks I like and the ones from the volume scanner I have a list of maybe 10-15 stocks, and I go through all those more carefully to see which ones i'm interested playing intra day, and which ones I think are good for an opening play. For an opening play I'm looking for a level in the premarket that's trading near where price is that has acted as both a significant support / resistance, and I want to trade off this level in the first 5 minutes, for example $GE yesterday gave such a sick 2 min orb off a really obvious level .. So I get hopefully 3 stocks to watch at the open, looking specifically for a 1 / 2 / 5 min orb, and after about 5 minutes, I start going through all the stocks I have, which is quite a bit, and looking for anything setting up. I want to add here that not everyone, and probably even most people don't trade like this, they like to just watch 3-5 stocks throughout the day, you gotta find what works for you I wake up at 4:30, get a workout in, get some food in me, take a shower/shave, I'm at my computer right around 6am, and I spend 30 minutes doing all the things I just mentioned, and try to maybe take a few minutes sometime prior to the open to take a few deep breaths, maybe step outside and just get away from the screen in preparation for a solid hyper focused hour of trading. In terms of "executing" you just gotta trade a lot man! No way around that one, I feel like I have a pretty high hit rate for opening plays in the first 5 minutes, and that's because I'm very meticulous about finding levels in the pre market, if I can't find a stock with nice tradeable premarket levels, I probably wont touch it the first 5 minutes. As for the ABCDs / Triangles / range plays / parabolic reversals, just trade! Cut yourself some slack, don't worry about P&L, worry about identifying trades, entering trades, and managing trades! Learning is always priority number 1, always. 2 things to conclude... After writing all this, i would image it seems like a lot, and it definitely is, but you get better at finding what you like and don't like, and you'll see a lot of the same stocks pop up day in and day out and have a sense for whether you're interested in them or not. Lastly, Make sure you have an idea of what spread is and what's a nice looking level 2, for example... There is a ton of liquidity and a 1 cent spread, if the price has a very deliberate move in one direction, the spread still isn't going to change much, so if you get a stop out there wont be much slippage, and if you enter, you should get a good fill. Good luck man! You don't have to figure out everything in one day, just everyday try and give a really good 1-3 hours of solid learning, then go live your life! (the only one you're probably gonna get :P) -Chris
  17. 1 point
    5-Minute Opening Range Breakout (ORB) 5_MIN_ORB.pdf High of Day Break / Low of Day Break HOD_LOD_Breaks.pdf VWAP Reversal VWAP_Reversal.pdf Mountain Pass Mountain_Pass.pdf 1-Minute Opening Range Breakout (ORB) 1_MIN_ORB.pdf Rising Devil Rising_Devil.pdf Falling Angel Falling_Angel.pdf Parabolic Reversal Parabolic_Reversal.pdf
  18. 1 point
    You bet, the rules of trading are a 'click' type learning curve, you either get it 100% or are completely lost, but we all get there.
  19. 1 point
    First let me applaud you on the discipline I see in your trading everyday. This is the toughest part of trading and when you have it the rest comes a lot easier. My first question, are you making trading decisions on the 1min and 2min chart only? They are a little close in time frame. The 1min/5min or 2min/5min or all 3 is better. So the first MU trade looks OK on the 1min. The MAs are moving up. Looks like an ABCD is being created so its OK the volume dried up a bit which it does commonly on the "C" part of the setup. I also like that it retested VWAP and still bounced higher. The only issue from the 1min chart is the 45.10 level is a REALLY powerful on being the PDC. But you have labeled it the same as the 45.05 level so it doesn't seem so strong. Sometimes I do enter a trade before the break of PDC so I can catch the move after, but only on volume. But here you were hovering under the PDC with low volume. Then on the 2min chart things didn't look as good. The 200MA, which is heading downward is a strong resistance level. Unless your stop was tight and the 200MA is your target. Then on the 5min chart there wasn't a new high after the VWAP break, not giving you an entry point. So I see why you took the trade, especially when looking at the 1min chart. I do recommend you have the PDC (previous day close) labeled a little different, unless you can still track it. I can't so I have it labeled differently. And I made the mistake of still using the 1min chart, as my primary well after the open. It took almost a year before it became comfortable using the 5min as my primary and the 1min/2min for confirmation and entries. Especially after 9:45am. So hopefully you won't make the same mistake as me and get comfortable using the multiple time frames early in your career.
  20. 1 point
    Since everybody has different levels of experience with the stock market, it is difficult to have a one-size-fits all objective list. I am going to try to cover all the areas that you should have a firm grasp of by the end of the 3-months. It is a rough outline of what I have learned after 4 months of paper/real trading. This post will be a work in progress, but here goes. ~IN PROGRESS~ Day Trading is probably the most deceiving profession on the planet. On the surface the concept seems very simple: buy low and sell high. Then why is it that 90% of traders fail at his endeavour? Surely they aren't trying to do the exact opposite of what is profitable. Even flipping a coin has better odds at 50%. Let's take a look under the hood to see what is required to be a successful trader. CLASSES There are four classes in total. Each one runs about 1 hour, except for class 4 which is almost 2 hours. It is recommended that you attend the classes multiple times to reinforce your knowledge, refresh the concepts, as well as stay updated on any new material. It is your responsibility to go over the slides and understand what is being taught. If you have any questions, please ask them during class, in the forums, or in the chat. The community is always here to lend a hand. You should also bookmark the Bear Bull Traders FAQ and DAS Trader Pro FAQ. Some members choose to read additional day trading books, as well as practice trading replayed market data. What you get out of the course is directly related to how much effort you put in. In a sense, the entire 3-months is more of a self-paced learning program than a structured course. There are no quizzes, no tests, no projects and no scoring. It is up to you to wake up every morning and spend time in the chair mastering the trade. Nobody will hold your hand, watch over your shoulder, or monitor your performance in any way. That is how day trading is in real life: absolute freedom to stake your fortune or self-destruct and implode. STOCK MARKET BASICS -Warren Buffet once said 'The stock market is a device for transferring money from the impatient to the patient.' This is true for long term investing and for day trading. Remember that for each transaction you see in the Time/Sales window, there is a buyer and seller. When a stock is down 20% on the day and you short it, somebody is on the other side of that transaction buying. You don't know their hand though. They could be covering their short from earlier, it could be institutions loading up for long term investment, somebody hedging an options contract, etc. Beginners often gloss over this point. Volume represents transactions being filled; a transaction always involves two parties. You are trading against other people, not the market itself. -Exchanges: NYSE, NASDAQ, AMEX -Market Makers -Pre-market and after-hours -High Frequency Trading (HFT), algorithms -Bid, Ask, Spreads -Short-selling. What does it mean. -Short inventory. Why are some stocks shortable and others not -Short Sale Restriction (SSR) -Short interest, or Short Ratio -Share float -5-cent tick programs -Circuit Breaker Halts -News, earnings, and catalysts -Buyouts -Pattern Day Trade Rule >>> Make sure you understand the above prerequisites before proceeding any further. Investopedia is a great resource. CHARTS -Candle Sticks. How to read them. -Understanding Price Action. Bearish vs bullish candles. Indecision candles. -Higher highs and higher lows / Lower highs and lowers lows -1-minute vs 5-minute chart -Moving averages and how they are calculated in different timeframes -VWAP. Why it's an important intraday indicator >>> The above concepts are not tool-specific and apply to all trading platforms MECHANICAL ASPECTS -Knowing your tools (DAS) -Platform, Hotkeys, Scanners, Journaling -Order entry. Limit, market, marketable limit, stops -Level 2 -Calculating commissions and tickets >>> The goal is to familiarize yourself with DAS and be comfortable using it. For some this could take days. For others this requires weeks. TECHNICAL AND STRATEGIES -Finding Stocks in Play -Good vs. bad pre-market price action -Finding Support/Resistance Levels -Day trading Strategies. Master recognizing the patterns, entries, stops, targets. -ABCD / Reverse ABCD -Bull Flag Momentum / Bear Flag -Fallen Angel -VWAP False Break Out -VWAP Reversal -VWAP Trend Trade -Opening Range Breakup / Opening Range Breakdown -Red-to-Green / Green-to-Red -Moving Average Trend Trade -Top Reversal / Bottom Reversal -Time of Day: Open, Late Morning, Midday to Close >>> Everybody will pick this up at a different pace--learning to recognize different strategies, figuring out which one works best for you (at what time of day), etc. MANAGING YOUR ACCOUNT -Risk Management -Position Sizing -Money Management PRACTICE THE PROCESS OF EXECUTING A GOOD TRADE Putting on a trade is more than buying at point A and selling at point B. You need to combine everything you learned to get in and out of a single trade properly: 1) finding good stocks in play 2) identifying chop and staying away 3) identifying the strategy or setup 4) quickly calculating risk-to-reward 5) getting a good entry and avoid chasing/jumping the gun 6) managing the trade based on live price action and new information which the market is providing you 7) taking profit (often overlooked, yet it involves half of the entire trade) 8) you need to do all of the above while keeping your emotions in check and fighting your psychological demons >>> Over the 3-month period, you will repeat this process hundreds of times. This is where the bulk of your time will be spent. Learning to take good trades and improving on your mistakes. This is the only path to consistency. Don't waste time trading unrealistic sizes on low-float stocks because you won't learn a thing. >>>Some of your trades will turn out to be winners, some will turn out to be losers. Most likely you will have a few trades that blow up your practice account (but don't worry, you weren't taking things seriously and would never do it live, right?). GOING LIVE -Choosing a broker -Starting small and gradual position sizing -Returning to Simulator -Peer-to-peer support PSYCHOLOGY OF TRADING -Why do most traders fail here -I'm highly intelligent, analytical and very disciplined. Why this will ruin your trading. -I'm a good poker player. Good--you will be playing against yourself -Revenge -Overtrading -Fear of missing out (FOMO) -Fear of pulling the trigger -Trading scared -Averaging down -Turning a day trade into a swing trade ~IN PROGRESS~
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