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Showing content with the highest reputation since 02/14/2019 in all areas

  1. 2 points
    Wednesday February 13th, 2019 Sleep: 7.5 hours. Mood: good, ready to trade. first trade was an ORBD in TEVA. was thinking it was going to be an ORBU but then it lost the VWAP. took it short with a 10 cent risk at $17.10 for the daily level at $16.64. it broke the even dollar but only for a second. i got out after it bought right back up over $17 for a small loss / break even. i did not like the price action GOOD: got out before my stop when i saw the trade wasn't working RFI: i should have waited a little longer to make sure it was going to break lower. also, i could have taken this on the upside after getting out of the short. MOOD: ok. CONSISTENT: yes. Last trade of the day was a double top in ATVI. i liked the rejection of the daily level on the five minute chart at 9:50 and 9:55. took it short on a new 1min low risking the HOTD to the VWAP. i knew that 20MA on the 1min chart was going to be resistance so i was patient after my entry but i could have waited for the pullback to $45 to get in and i would have got way more shares. sold my first piece too early and the second piece right as expected. GOOD: good setup. RFI: entry could have been better. selling first piece could have been better MOOD: good CONSISTENT: yes. What i did good today: took only planned trades. What i did bad today: selling still needs work. use limit orders when you're in a winning trade. What can i do better tomorrow: maximize your winners. Other comments for tomorrow: Keep up the consistent trading.
  2. 2 points
    A Day so bad you gotta journal twice. One thing that I noticed today is that I missed out on 3 wining trades because I set limits that I either pulled or were a penny off and didn't fill. I've had this problem for a while, and I usually have one or two trades a day, where I actually have my limit set, and it doesn't fill or I take it off. I get real close, but I miss out on the trade. I'm not sure why or when, but it must have been a few months ago where I just started doing limit orders and then I gradually switched all my entries to limit orders. Today it happened 3 times and each one would have been a day maker. I would have been done with the day if I got in any of those trades. Today I missed out on multiple $100 trades because I was trying to maximize $1 or $2 on the entry. That is a bad Risk/Reward! I am showing some of my missed limit orders for the day. I didn't have any limit orders today that I cancelled before it hit and would have lost on. I tried my best to place my pointer on the right price to show where the limit was set, but the gray line is very faint. $EXEL - I had a limit set for $22.95 and pulled it fairly quickly. The stock did touch $22.95, but I am usually last to get filled anyways, so there was a chance I wouldn't have gotten in this trade even if i didn't cancel the limit. And after I cancelled I placed a higher limit that didn't come close to filling. This was a killer as I took a lot of shares and it moved almost $1.50. My stop was a few cents above $23, so the R/R was probably 10/1 or even greater. $CRON - I had every opportunity in the world with CRON. It floated in the .96 to .98 range and I just didn't take it. I was in, then I cancelled, in then I cancelled, and in then I cancelled. I was so hesitant on this trade. Would have been a nice 30 cent move. $ATVI - Missed this one by literally a penny. It was an easy short for me. I would have sold most at VWAP for a 50 cent gain. 3 Times today, I missed out on winning trades because I was trying to penny pinch. I try too hard sometimes to be penny perfect on my entries. The funny thing is, I am so relaxed about it on my exits. For instance if VWAP is at $44.10 for ATVI, I would sell anywhere near VWAP. I dont need it to hit VWAP. I don't care about the pennies on the exit, just on the entry. I've had this problem for a while. I usually miss out on at least one trade a day because of this bad habit. A couple of questions arise because of this, 1. Should I be market ordering on all my trades? 2. Do I feel so confident in a trade sometimes, that I try to even be perfect to the penny in order to maximize gain? 3. Am I scared of winning? 1. Should I be market ordering on all my trades? I dont know when I made the transition to limit orders, but there was a point a little while back where I felt the same way that I do now. I am missing good trades because I am not taking market orders. Any one of those trades that I missed on today, if I took them, I would have had a +$100 day instead of a -$141 day. I think I need to start taking market orders on trades with reasonable spreads. If I were to trade TSLA or NFLX then a limit is necessary, but otherwise I dont need to penny perfect. Take the market order! 2. Do I feel so confident in a trade sometimes, that I try to even be perfect to the penny in order to maximize gain? This happens to me often. Obviously if the trade goes against me, I will get filled along the way, but it seems that I try too hard on these winning trades. I think I know when I see a winner, and I want the perfect fill to go along with it. I need not to be scared of the market order. If I like a trade so much that I am trying to get a perfect fill, then that means, I just need to get in on that trade. The those few dollars extra I would lose on a loss, do not outweigh the missed gains. In many of these cases, they are winning trades. 3. Am I scared of winning? The biggest question of them all. Am I scared of winning? As dumb as it sounds, it is a serious question that I must answer. I have been trading very poorly lately, and everyday I wonder, why did I barely miss my limit order fill on a big winner, but I had no problem taking a loser that wasn't a clear cut setup. From what I am reading, the answer maybe that I am fearful that I may not be able to replicate success tomorrow. I can take a winning trade today, but if I don't do it tomorrow, am I telling myself that the winning trade was a fluke. Is that what I am scared of? I play quarterback for a flag football team 2 times a week. I think we are far and away the most athletic team on the field, but we don't always win. I've thought the same there, am I scared of winning? Is is always easier to be the hunter than the hunted. It is easy to have a goal to be #1, but harder to achieve the top spot and hold out while everyone else is gunning for you. The target is on your back, is that something that I am scared of? Do I not want the pressure of being the best, of always having the pressure to perform. Is that what is holding me back here? Obviously there are a lot of things that I need to work on, but am I afraid of taking the next step and then having to always trade at this leveled up stage. If I have some success for a few weeks and then go on a losing streak, am I scared that it was all a fluke and I didn't deserve my success? I guess the second lesson that I am going to try and get today is that I need to develop a winning mindset. I want to do well and I want to succeed, but is the fear of pressure of constantly performing holding me back? I did say full transparency... I've actually had a real rough start to the 2019 year. I've posted all of my trading says since I started this journal here. You will probably notice that I have a lot of losing days. It hasn't been pretty. It may be time to get back into sim, there is no shame in that, but is something that I am trying to avoid. I feel like a day in Sim is a day I can't make money, but looking at my numbers, I might need to see it as a day as not losing money. Two winning days in February. Both were probably break even or near it after commissions. I am not trading well. I think we can all agree on that. I started my 6 trade lifestyle change on 2/7. Its been 5 days and I broke the rule 3 times already, still much better than before. A couple of things have happened with how I approached trading since that day. The benefits are that I am more selective with my trades, and I pay less in commissions. One of the side effects is that my win % has gone down significantly. My trading volume has gone down. You can see where I was trading freely, then trading with a 4000 share limit, and then trading with a 6 trade limit. I have won 7 out of 35 trades with one break even trade. 20%. Right away that looks terrible, but I think it can be corrected. I see a minimum of 5 trades that went enough in my direction that I should have taken profit and stopped at B/E. You could even make the case for a few more that could also fit this category. I also see about 4-5 more that have minimal losses -$5. These trades I am ok with. They are part of the game. The issue seems to be that I am trying to make every trade count as I should, but I am also trying to make every trade be that big winner. I'm not settling for the $20 gain or taking enough profit when the stock moves my way. I need to adjust my mindset so I accept a winning trade as a winning trade. I don't need to force my ideals of what I want on to the trade and instead I need to take what the trade gives me. I need to be ok and very happy taking a $40 win. I am also avoiding trades where the reward would equal $30-$40. Those are good trades and I need to take those. Winning trades are winning trades. I don't have to always have a preset reward of $100 plus in the trade. Or take a trade just because it is far from VWAP or the next level. If I see a trade that will move and I am confident I should be taking it. Don't pass up on it, hoping for a riskier $100 trade later on. The second issue with my trade selection seems to be that I am not waiting for confirmation, I am trying to increase reward, while also decreasing my edge. There have been times where I have taken a trade right at VWAP before it is signaled its direction and given confirmation. I impart my biases on the trade at VWAP or a significant level and hope the trade does what i want it do. I don't need to be controlling the trade and trying to make it do what I want. TLDR Take Market Orders - $1 isn't worth missing out on $100. Keep the winners as winners - Small winners are better than small losers. Wait for confirmation on trades - Don't need to be forcing out the directions, just go along for the ride. Be ok with winning
  3. 2 points
    Hi All, my name is Carlos M. I am 32 and live in Northern Jersey, few minutes from the NYC. After 12 years of working as a Senior Operations Manager, I was laid off this past December. My company purchased GE Appliances and moved to their headquarters in Louisville, Kentucky. I thought I would be more upset about the layoff but I had 12 amazing years, and I was ready to move on and try something new. The company gave us almost a year and a half notice, that was more than enough time to prepare. (Plus a nice $$$ for years of service and sticking around until the end :) ) As my work started to transition to the new company, I found myself having a lot of free time during the day. I always had an interest in trading stocks and this was the perfect time to start practicing and getting ready. I did another online course and trading that did not work out (that’s a story for another time), and then I found Andrew’s Book and Chatroom community. Signed up for the Platinum package, I did the simulator for about 4 months and when live this month (January 2018). Looking forward to possibly meeting up in the near future with others traders and continuing being part of this amazing trading community. Carlos M.
  4. 1 point
    Hello Everyone, I just finished three months of live trading this past Friday, and about two weeks before finishing I came to the realization that something had to change if I was going to make it through the learning curve. After reading “Trading in Zone” and watching Mark Douglas’s “How to Think Like a Professional Trader” on YouTube, I decided I would create a 20-trade sample set to work on three areas of my trading. (1) Thinking in probabilities (2) Discipline to not give into FOMO (3) Holding my winners longer I figured since this is basically testing out a theory presented in one of the recommended Psychology books, I would make the results public so everyone in the community can see it. The desired outcomes I am looking for at the end of the sample set are: (1) Getting away from thinking trade to trade, and start thinking in a series of trades (2) Taming FOMO, so I do not get over excited and enter a trade too early (3) Confirm my profit taking plan is profitable over a series of trades. All of my indicators, confirmations, and risk analysis that defines my edge is based on information obtained in Andrew’s book and the lifetime Webinars. Edge Defined Strategy: 15 Min ORB – I chose this strategy specifically to force myself to deal with FOMO each and every day. I will caution that my edge does not appear every day, so there will be days that I do not take a trade. While tracking 5 Min ORBs and 15 Min ORBs for the last three months (total of 165 Stocks), I was surprised to see that 15 Min ORBs that meet my criteria appear more frequently than 5 Min ORBs. The percentage of them working is almost the same. 5 Minute ORB Pullback Met Parameters - 52 of 164 Total trades within parameters that have worked - 41 of 52 (78%) 15 Minute ORB Pullback Met Parameters - 55 of 165 Total trades within parameters that have worked - 41 of 55 (74%) Stocks for Watchlist: I select up to three stocks to watch based on the following criteria % Change – Gapped at least 2% but not more than 10% Catalyst – Needs to have fundamental news of sort. Vol – >100,000 Float – High or Medium float (> 50 m) ATR - .50 to 2.00 Trading – Must be trading higher than normal volume Exchange – I prefer Nasdaq over NYSE Edge Criteria: I have three parts risk analysis, indicators, and confirmations Risk Analysis: 1:2 or Greater Indicators: Must meet 2 of 3 Trades within the ATR Small share size with high volume Has a direction upward or downward (higher highs, higher lows, lower highs, lower lows) Confirmations: Must meet 3 of 4 ORBO closes above VWAP/ORBD closes below VWAP No large wicks/candles (wick cannot be larger than body, candles body not larger than ½ ATR) Closes near VWAP (needs to be within $.30) Has a pullback prior to breaking the opening range (cannot go past planned stop) Profit Taking Plan: As I am with CMEG, I have found you have to be very selective on when to take profits otherwise you are giving the money you make back in commissions, so I developed strict criteria for taking profits. Plan A – 1/3 out at just a little above 1:1 (this allows me to be at break-even if the stock moves back to my entry point), all out at profit target (+/- $.03) Plan B – 1/3 out at just a little above 1:1, 1/2 at profit target, all out at technical level or my first out Plan C – 1/3 out at just a little above 1:1, 1/2 out near the profit target if stock stalls near it, all out at the profit target or my first out. Share Size: I am taking share size based on a fixed dollar amount. Thanks to KyleK29 & fjmocke for the hotkey setup. Daily Trading Goal: My daily trading goal is to trade only within my edge, stick to my profit taking plan, control my emotions, and be disciplined. If I meet these then it is a green day regardless of what my P/L says.
  5. 1 point
    I'm a pretty heavy user of trading sim, and there only seems to be a bit of scattered info on it in the forums so I thought I'd post a detailed thread here along with some recent improvements they've done. For those who don't know, TradingSim (www.tradingsim.com) is a dedicated replay paper trading platform that runs in the browser. One can choose any date, setup a watchlist and playback stock data. There are buttons for play, pause, step to next candle, speed up, slow down etc. You can set your account size, buy, sell, short, limit and stop orders are all there. The advantages of using such a platform: Trade outside of market hours Drastically increase the amount of practice trading for a given time of day (for instance the open) Trade in different market conditions Use it as a research tool to study historical data, refine patterns and strategies, etc. One of the main drawbacks that people have commented here on the forums here is that it does not have pre-market and post market. They have since added this a little while ago. I'd say the only key thing that's still missing is level 2, although they do have order flow; and that also shows the current spread. There is obviously no premarket gapper scanner or anything like that. For trading practice I simply look up the respective recap from Andrew on youtube in order to get a watchlist. I spent quite some effort getting this das-like, and I'm relatively happy with the result. Take a look for yourself, and note that my DAS setup is slightly different than Andrews (I use green candles, different thickness MAs). Like DAS, there are a lot of options, it takes a little while to find everything you need. One rather critical option that vastly improved it for me was the 'Scale series only' under the 'Scale' of the chart settings. This stops the chart zooming out to fit the 50 and 200 SMA when they are out of screen. Just like DAS you can mark your charts with relevant levels from the premaket or daily, levels can be moved across charts via one by one via a copy-paste type functionality, but given the amount of clicking involved it's just as fast to draw them again. Some of the drawbacks the platform still has: Calculation of the VWAP in the pre-market is incorrect (I am currently in contact with them about this) No level 2 Hotkey functionality is a bit weak compared to DAS For active trades, it shows your average price on the chart, as well as relevant limit/stop orders, which is pretty cool, however once a trade is closed, there are no triangles to show you your orders. This makes it difficult for reviewing trades. This also facilitates overtrading or scaling out too quickly in my mind as you can't see the array of triangles you are leaving behind. During my usage of the platform I have found some bugs or oddities and sent them feedback. They have been fairly responsive about addressing all the feedback I have sent them, and a number of things have been fixed thus far. A word to pricing and competition. I tried both NinjaTrader and ThinkorSwin in the beginning, both of which are free. Ninja trader didn't work at all, replay only seemed to work for futures and forex. ThinkorSwim is also free but requires an ameritrade TD account. Based on feedback I heard from others from the community that it was rather clunky and not really usable, I didn't bother trying it out. TradingSim is $300 a year, and they offer a 10 day trial. Compared to the cost of DAS I personally think this is totally reasonable, particularly for people with jobs, or in other time zones who need to practice out of market hours. To conclude I want to emphasize that whilst I am happy with using this software, it is clearly no replacement for the DAS trader simulator with real time data and participating in the chat. Personally, I find I take tradingsim less seriously than the DAS sim, something about the fact the things are not happening real time really takes the pressure off. Therefore it is essential to participate in the market daily to practice in realtime market conditions, and on the platform you will go live with. I'd be interested to here from other members using tradingsim and what they think. Anything to add or any questions?
  6. 1 point
    This is the podcast Andrew recommended today in the chatroom, TRAINED By Nike. # 6 is about sleep. https://itunes.apple.com/ca/podcast/trained/id1414073313?mt=2#
  7. 1 point
    February 14, 2019 - $MU (Stopped Out/Outside Edge) 2 days in a row I have traded outside my edge. Items in Bold are my analysis done during lunch. After reviewing the trade and getting it ready to post, I noticed I was making a fatal error unknowingly to myself. I was forcing the trade to be within my trading edge, because I have not had the week I wanted. I originally determined this trade was within my edge; however, it did not meet risk analysis, so I should not have taken the trade. Sample Set Results P G S G S 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
  8. 1 point
    Im up for the meetup! we will meet at the circled place in the photo and decide the bar again. See you guys there tomorrow.
  9. 1 point
    February 13, 2019 - $MU (2 Trades Outside Edge) Today is one of the days I lost my battle against FOMO. Three 5 min ORBs all of which had awesome setups feed into my urge to trade. $MU met my trade criteria, but pasted my stop loss before providing an entry point, which usually means I do not trade it because the stock is choppy. Instead, I decided to trade outside my edge when I saw $MU consolidate at the 9 SMA and start moving back up. When it broke the open of the previous candle on the 2 min chart, I entered, but forgot to move my stop loss to the new point I wanted resulting in my $ risk being more than I wanted. I decided just to exit the trade, reset the stop and move on from there with my plan. I took out a portion at the high of the day, I then took out another portion at another Resistance level, I exited when the stock engulfed on the 2 minute chart. After pondering the day and reviewing the trade later, this was good trading with regards to risk management and profit taking; however, this was not within my edge and my plan for the day. Sample Set Results P G S G S 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 
  10. 1 point
    Wednesday 2/13/2019 A bad rule breaking day. Broke my 1 trade/day max rule today on a revenge trade. I was already shaky since I have been having an issue taking the correct shares lately. I have been cutting them in half at the last moment. This issue culminated yesterday by it help caused a wining trade to become a losing one because of the wrong share size. Today my well-being score was 4.5/10. That is lowest I allow myself to trade live but it must be half size. There was a 1min ORB set up on TEVA. This is unusual, I only have one 1min ORB setup so it’s unusual to see. But, it matched the setup criteria and I took it. Don’t you love when the stock reverses the millisecond you place your order? But this is still all OK. It correctly match the setup, I had the correct share size, my entrance was exactly where I wanted it and I had my stop out price planned. But, I was caught in the headlights and WAY over shot my stop out point. This is highly unusual for me. Since I have been live I have been very good about stop outs (which is odd since I was really bad about it on SIM). Taking the correct shares and stopping out right on queue was my two strong skills I had. Which really shocked me today now that I may be losing both. When you have just a few skills losing two can really knock you down. After my one trade a day (win or loss) I always step away from the computer for a couple of minutes. I just need 2 minutes to reset. Today I didn’t step away. I took a revenge trade on AMD very soon afterwards. It had no setup and would you know it I took the full share size. And again I let it go well past my stop out. After that I was able to pull myself away from the platform for a few minutes. I came back with huge FOMO and really wanted to revenge trade more but I kept control until 10am (EST) where I turned off the platform. I thought I was making more progress than that and was planning to allow more trades a day next week. Now I will stay at 1 trade a day for a while longer. At least I didn’t lose it or hit max loss. Live to trade another day.
  11. 1 point
    Yes a Garmin watch. Its helped my sleep tremendously. I bought it for running (has a very good GPS), that after a couple of months I happen to find a really good book on sleep improvement. I would try something in the book for a few days and the watch would let me know what affect it had. Took a couple of months but I got my sleep back in order. Though with demands of family life I can only get 6 hours a sleep a night (I rather have 8), I am usually in deep sleep for >60% of the night. Its also really good on the days you wake up really groggy and think you had a bad sleep. Then the watch informs you you had a good sleep but you accidentally woke up (by alarm) in the middle of a deep sleep cycle. Thus I know in 1 or 2 hours I will feel back to normal.
  12. 1 point
    Thanks for sharing your experience, Mike! I will adjust my trading as from today (at least, that is my plan. You never know with us traders hahaha). I don't have a straight plan yet, as you have, but I think I will at least look for a setup (ORB, ABCD, VWAPreversal) that meets all the criteria. And I will also downgrade my size and risk, thanks to a post from Kurt. And yes, I am now also on the point that I am trading just to trade. And it starts to get bored. No pleasure when I make profit, more by luck than by a good setup!! Trade well and safe today!
  13. 1 point
    Monday February 11th, 2019 (SIM) Sleep: 6.5 hours. Mood: feeling good despite the lack of sleep. ready and excited to trade. I've been thinking a lot about my trading after Friday and it finally sunk in that i need to write out my specific setups in order to get in to a trade and only take those setups so i spent the weekend writing out my first pass of my qualifiers for the trades that i want to practice. the first trade i took today was an ORBU in EA. it met all of my citeria so i jumped in. my selling was not to plan, i got out only half too early and then held the last half to b/e. had i stuck to my plan this would have been a better trade. GOOD: setup met all qualifications. RFI: botched the selling. MOOD: good CONSISTENT?: yes. only took one other trade. i took a 1min MA trend trade in MA. it came up over the MA on the 1min chart but couldn't hold and fell below. i saw a good R/R per my setup so i took it. i wanted to get filled right at the new 1min low but it went down so fast i got a bad fill. sold 75% at my profit target and the rest at the next level. i stuck to my plan which i'm happy with but my first profit target really didn't make any sense. i should have shot for the daily level and then sold if it wasn't going to break that recent low. GOOD: saw a setup and took it, followed the plan. RFI: first profit target was too close. MOOD: happy the trade worked out. CONSISTENT: yes. What i did good today: traded well today. stuck to my plan and only took trades in my plan What i did bad today: did not do a good job of exiting my trades. What can i do better tomorrow: stick to the exit plan. pay better attention to potential profit targets. Other comments for tomorrow: keep practicing the trading plan.
  14. 1 point
    Friday February 8th, 2019 Sleep: 7.5 hours. Mood: ready to trade first trade of the day was a long in COTY. I think that my fear of losing money is holding my trading back so i'm working on getting in and out of trades with less resistance. with that in mind, i got in long on COTY with no setup. i thought i would just get out for a couple cents loss if it didn't go my way. it did not and i got out immediately. now that i'm typing this i have no idea why i went long in the first place. i pretty much just got chopped up in COTY in the first 15minutes. taking small losses and gains but really getting nowhere. GOOD: accepted the risk RFI: no setup and gave it no room. MOOD: ok CONSISTENT: no setup Then COTY looked like it was going to do an ORBD so i got in short and took a bigger loss than i wanted GOOD: was a setup RFI: took too many shares from my risk level MOOD: ok ACCEPTED RISK: yes Went long in COTY, hoping for a pop above $9 i used the 1min MA as resistance and got in. it bounced off that 9 for about 5 minutes and i got out at b/e. GOOD: got out when i saw it wasn't going to break even dollar RFI: not really a setup MOOD: ok, glad i got out. ACCEPT RISK: yes Last trade in COTY was an engulfing 5min and i knew it had resistance at the $9. it broke down to VWAP and i got out once i saw it wasn't going to sell off GOOD: nice setup, good reason to get in the trade. RFI: i could have gave it another minute and saw that the trade probably wasn't going to work MOOD: ok ACCEPT THE RISK: yes. Tried to take an ABCD in MAT that failed immediately. glad i got out when i did but that was a dumb resistance point to trade off off and it was trending down on the 5min chart. GOOD: got out with a small loss. glad i got out because it tanked after that RFI: kept making new 5min lows and didn't show any sign of buying MOOD: good ACCEPT THE RISK: yes. that was all my trades for a max loss day in the first half hour. i did not want to be done trading so i got rid of my max loss risk control and kept on trading. thought i could get in on a downtrend in MU. got stopped out twice and then i made a buck/be on one trade. then after that trade went my way i tried to get back in on a pullback and then averaged (down) and got stopped out for a $36 dollar loss. my risk controls are there for a reason and i really blew it by bypassing them. so that's it for my live trading. i'm going back to SIM for a while until i can figure out how to consistently make money. What i did good today: decided i'm not ready for real trading and decided to go back to sim What i did bad today: virtually no setups. i need to marry my risk acceptance with patience for good setups. i will work on that in my trade What can i do better tomorrow: practice setups and only taking setups Other comments for tomorrow: it was foolish to blow up like that. but i think it was bound to happen. lost all of the $250 i gave myself to lose. paid my first round of tuition. going back to sim until i'm making consistent money.
  15. 1 point
    After getting my CDL license I finally started making real money and my savings added up over the next four years. I wanted to use the savings to create an opportunity for myself to escape the average day job. Searching for ways to do this I came upon many ideas and heavily read about real estate investing. It didn’t feel like the right time for that, but a few times I heard about this day trading thing. Did some research and found Andrews book in the fall of 2018. Ever since then I’ve been hooked and doing everything I can to learn more. Fast forward to January and my wife wants me to quit my job so she can have a break from our new born son between work shifts. This also gives me a chance to practice day trading full time. So just this last week I have left my job for an estimated six months to help my wife with the kid and try to turn day trading into a career. I think Andrews style is the absolute best because I love how much he stresses risk management. Since January I am trading live with 100 to 500 shares. As expected, I have been going sideways with wins and losses. Studying my trades and making adjustments. I am in this for the long run and know that being a part of this community will help me reach success.
  16. 1 point
    Welcome to club Dirk! Yes buddy system is beneficial. Does not have to be one on one it can also be a team, I have found that messaging app like What'sApp is really convenient. What does everyone else think?
  17. 1 point
    Hey Everyone! We should starting putting some possible dates together. Maybe March/April? What do you guys think? Looking forward to seen familiar faces and new ones!
  18. 1 point
    I purchased a 17" ASUS ROG Model GL703GE-IS74 currently $200 off at Costco....1TB HD, 250GB SSD, 16GB RAM, GTX1050 GPU, 8th Gen Intel® Core™ i7-8750H Processor 2.2GHz. It's a gaming laptop with fancy colors on the keyboard and comes with a gaming mouse. The main reason I purchased this (besides the current discount) was that it has an HDMI plus a Mini Display Port so you can add 2 external screens. So in addition to being a solid travel trading setup this can double as a home work station if/when my regular PC crashes or fails or needs some repair. https://www.costco.com/ASUS-ROG-Gaming-Laptop---Intel-Core-i7---GeForce-GTX-1050-Ti--1080p---Bonus-Gladius-ll-Gaming-Mouse.product.100416051.html
  19. 1 point
    I picture/visualize it for myself this way: we harbor two creatures in us...one mostly controls decisions that get made "on the fly" the other is responsible for "deliberative thinking" but that creature is also lazy and easily overrun by the impulsive creature in us. We need to retool/train the lazy creature not to be overrun by the impulsive creature. I recommend this book by Daniel Kahneman....Kahneman won a Nobel prize in behavioural economics for research on the two major forces in the brain that dictate decision making....intuitive vs deliberative thinking. It's very useful to understand the brains impact on impulse and biased trading. Daniel Kahneman: Thinking fast and thinking slow https://www.amazon.com/Thinking-Fast-Slow-Daniel-Kahneman/dp/0374533555/ref=sr_1_3?ie=UTF8&qid=1547156870&sr=8-3&keywords=daniel+kahneman Another good read is a book written by Anni Duke ... Anni Duke is a professional poker player who talks about how to think in terms of bets and statistics of making good and bad calls. Those who play poker might agree there's a few "decision making" similarities between poker and trading. Like traders poker players have to quickly make decisions (fold, call, bet or raise) when confronted with complex decisions. They too have to learn to tame the impulsive creature they harbor... Anni Duke: Thinking in bets https://www.amazon.com/Thinking-Bets-Making-Smarter-Decisions/dp/0735216355/ref=sr_1_1?ie=UTF8&qid=1547156844&sr=8-1&keywords=annie+duke
  20. 1 point
    Here's what I have. I had built the computer with my son... just because... maybe a mild amount of gaming. 8th Gen Core i5 8600K ROG STRIX Z-370-E Gaming Motherboard NVIDIA GTX 970 Graphics Card 16 GB DDR4 Ram Corsair H60 Water CPU Cooler LG 24" LED Monitor (Center) - Brand New Samsung 21.5" LED Monitor (Right) - Kinda New Samsung 20" I-don't-know-what-kind Monitor (Left) - Old family friend that got repurposed Cord control program has not yet been implemented!
  21. 1 point
    Hi guys! I finally got my trading station ready! First of all I really want to thank everyone posted here, I read every comment, every detail and everything you posted, in conclusion I could build my own trading station! I actually lost all my trading capital building the station and hopefully becoming a life time member, but after thinking about it and reading @Andrew Aziz book I learned that it's an investion I've to do in order to become a successful trader. First lose money! Then make it :D, I'll be in simulator until I save money for trading So, let's go to the details! 1)Graphic card ASUS GeForce GTX 1080 8GB ROG STRIX Graphics Card (STRIX-GTX1080-A8G-GAMING) I wanted to buy the MSI Gtx 1080 gaming 8 x8gb but it wasn't available in my country, so I went with this 2)Mother board GIGABYTE H370 AORUS Gaming 3 WIFI (LGA1151/Intel/USB3.1 Gen 2 Type A,Type C/HDMI/M.2/ATX/DDR4/Motherboard) 3)Ram CORSAIR VENGEANCE LED 16GB (2x8GB) DDR4 2666MHz C16 Desktop Memory - White LED 4)CPU Corsair CX Series 750 Watt (2017) 80 Plus Bronze Certified Non-Modular Power Supply (CP-9020123-NA)I actually got 100w, but couldn't find it in amazon, you actually don't need 1000w, 750 is more than enough! I think even 650 will work, but I couldn't find 750 in my country as well 5) Cooler ARCTIC Freezer 33 eSports ONE - Tower CPU Cooler with 120 mm PWM Processor Fan for Intel and AMD Sockets - for CPUs up to 200 Watts TDP - Silent and Efficient (White) 6)Processor Intel BX80684I78700 8th Gen Core i7-8700 Processor 7)SSD, ADATA SU800 256GB 3D-NAND 2.5 Inch SATA III High Speed Read & Write up to 560MB/s & 520MB/s Solid State Drive (ASU800SS-256GT-C) 8)Hard disk 2tb WD Blue 2TB Desktop Hard Disk Drive - SATA 6 Gb/s 64MB Cache 3.5 Inch - WD20EZRZ you'll need an ATX box I believe but it depends on your style :DD With the box this whole setup cost me 1450$ from a local store, I also have 4 philips monitors 24 inch each cost 100$+ a cheap desk xD 60$, gaming mouse and keyboards because I love games, both cost 80$, and a stand for 6 monitors which cost 120$, 3 hdmi cabels, 1 adapted from vga to display port, another from hdmi to display port. I believe that's all!
  22. 1 point
    Hello all, I'm Josh (Joshua L in the chat). I have recently started my three month DAS simulator trial. I am wondering if anyone has created a week by week goals list. For example, week one - learn this, week two - learn that. So by the end of 12 weeks we are proficient traders (at least as much as possible). I think this would really help us new comers get the most out of this program. Also, I wasn't sure where exactly to post this thread. Thanks!
  23. 1 point
    Hi Everybody! My name is Ryan (Ryan W in the chatroom). I live on Long Island, NY and I'm an IT consultant with my own business. I have been in IT for about 15 years now (I'm 32 and got started when I was 15). I have Bachelor's Degree in Business Management with a concentration in Information Systems. I have always been interested in trading. One of my best friends is Jesse Colombo (look him up). He introduced me to trading and finance in general while we were in high school, but of course I was only concerned with girls at that time lol. As I got older, I realized how interesting the markets are. I love staring at charts and trying to understand the underlying sentiment and what is happening on the screen. I started swing trading more actively in 2010 and was basically just treading water. I wasn't a fan of the overnight risk and after having awoken to several of my positions being down due to news or earnings, I realized swing trading wasn't great for me. I started to look into day trading. I got involved with Trading Education company here in NY and provided IT services for them. I was exposed to day trading more and was really enthralled by what was happening. Of course, this particular company wasn't known for the most honest and realizable trading education, so I took what I saw with a grain of salt. I received some exposure to some really great traders and mentors though, but their strategies and styles never really worked for me. After almost 4 years of day trading and having whipsaw emotions and losses, I am happy I found Andrew. I bought his book and was literally on the verge of giving up, but seeing how he trades and understanding his style and strategy has helped me immensely! The IT field has changed dramatically from when I first got started, even when I was in school (seems like a million years ago) and I am just sick and tired of it. I have been wanting to switch over to full time trading for years now, but the strategy I was trying to make work never worked. The person that taught me doesn't trade this style (even though he teaches it) and it just ended up costing me a lot of time and money. Now that I am on the right track with Andrew, I really hope to move over to full time trading sooner than later. Since I work for myself, I am able to balance trading and my clients. Of course, some days that's not always the case, but it does give me the opportunity to have the exposure I need. I look forward to working with everybody both here in the forum and in the chat!
  24. 1 point
    I built my computer specifically for day trading (and gaming!). I share a home office with my photographer girlfriend so I wanted to make sure I kept everything quiet and contained. My corner of the office is a standing workbench I custom designed and built myself to contain the tools, electronics, and gadgets I use to build "stuff". My 3d printer is also pictured. I built a Core i7 based PC on an Asus ROG Maximus IX motherboard, 32gb of RAM, and a Vega 64 graphics card. I have a Noctua CPU cooler that operates almost silently, and the machine itself is down in the corner so it's near silent. The iMac on our desk behind is actually louder. I installed an Ergotron arm to mount the monitors (a 34 inch wide screen and a very old 24inch monitor) to my standing work bench. I have gaming mouse and keyboard because I like the feel and I'm left handed so having an ambidextrous mouse is great when I switch to right-handed to game. The last part of my setup is a Stream Deck, a customizable keypad with LCD screens on each key which I've set up to trigger hotkeys for long and short positions. Each icon is custom color-coded so I can't mistakenly short a long position when I'm trying to sell, or something similarly boneheaded.
  25. 1 point
    Here is my current setup. Though not built intentionally for day trading, it's getting the job done. PC - Wonderful little computer for productivity, media consumption, and even light gaming. The machine is barely audible from 2 feet away with the silent Noctua fan. It literally fits in the palm of my hand. ASRock DeskMini (Barebones) Intel i7-7700 Integrated Intel HD630 Graphics (no video card!) 32GB DDR4 RAM Samsung 960 EVO M.2 250GB NVME Drive Crucial MX300 525GB SATA SSD 1TB Samsung Hard Drive Noctua NH9-Li CPU Cooler All that performance is crammed into a package that is smaller than Andrew's book! Monitors - Two ultrawides really limits the cable clutter/additional hardware required for a multiple monitor setup. However, there is some ergonomic drawback as the overall height requires quite a bit of vertical neck movement. LG 34UM88-P 34" Flat Ultrawide (top) LG 34UC88 34" Curved Ultrawide (bottom) Mounted to a Vivo STAND-V002T Dual Monitor Vertical Desk Mount Desktop/DAS Layout - I am able to fit 10 montages in DAS which includes: 8 x Stations with 5 min chart, L2, Time/Sales 2 x Stations with 1 min chart, 5 min chart, L2 Time/Sales Central "hub" showing Market Time, Top List, Open Positions, Open Orders, Watch List, Windows Calculator Bear Bull Traders Chat and Andrew's Trade Idea Scanner Most of the time I am watching 5-6 stocks and just keep some low floats up top to avoid any FOMO! Keyboard - MechanicalEagle Z88 RGB Backlit. Fully customizable down to each individual key colour. I use green for long hotkeys, and red for short. Desk - Ikea Malm White Chair - Vertagear S-Line SL2000. Very comfortable for extended sitting. Includes a lumbar cushion and neck/head pillow. I may consider getting a standing desk in the future. Miscellaneous Glorious Extended Gaming Mouse Mat - keeps the white desk nice and clean ALED LIGHT 5050 LED Strip for ambient backlighting behind desk/screens Let me know what you guys think!
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