Wanted: Trading Buddy

[Wanted: Trading Buddy]

Hello BBT,

I hope all is well with you all.

my trading journey to date is as follows. I quit my job in Sept last year as I was miserable and depressed and started to pour my focus into learning all I could about day trading and I joined BBT in Nov '22 after reading Andrew's books, probably like most people on here.

This year I have gone self-employed and I am able to trade regularly 2/3 times per week whilst supplementing my income by working for a local brewery and I am much happier for it.

I am currently at the stage where I have been trading live for about a month now, my first objective is to have a break even month having just had my first profitable week (albeit a very modest one with the limited risk I am putting on). I'm currently reading "The disciplined trader" which is great and have "trading in the zone" & "Volume price analysis" lined up after that.

I would describe my trading style as a trend trader who likes to use multiple timeframes and market alignment to give myself the best chance of a profitable trade, mainly using SMA's as my trading indicators. I also like to trade on higher timeframes, as I find the shorter timeframes quite noisy and distracting.

I have attached an example of my DAS platform set-up for anyone who is interested.

I am looking for someone who trades in a similar style to myself to share trades & ideas with and provide some sort of constructive feedback in order to gain a different perspective and hopefully learn from one another. I also like the the idea of providing mutual accountability and support to each other when things aren't going so well.

If you are reading this and think we would be a good fit as trading buddies then I would love to hear from you. Please feel free to get in touch via e-mail with the subject line of "BBT Trading buddy" or something like that

Define your risk & keep it green!

Alex from Leicester, UK.

[email protected].

 

[IBKR Cash Deposit Issues]

Just wondering if anyone else has experienced issues making cash deposits to their IBKR account?

I made my first cash deposit on the 3rd Jan via wire transfer from my HSBC account and I'm still waiting for the funds to show in my account.

I called them up this morning and was put through to an Indian call centre which wasn't much help as they just advised me to raise a ticket via the online portal.

Has anyone else experienced delays with this?

In your experience how long doesn't it take to fund your account from a UK bank?

Would be interesting to hear what your experience has been

[Profit Sniper hotkeys]

On 6/6/2022 at 9:15 PM, Miah said:

Just wanted to share my hotkeys with the BBT fam. These hotkeys are made for speed and built with a range order to take profit of your choosing at an R/R of your choosing. 

So the examples below are of a long and short with a $100 risk, a 10c stop, and sell 20% at 2:1. I'll break them down so you can edit for different amounts to your needs.

• The Share=100/.1; is your risk in dollar amount, so $100 in this example with a  10c stop. Change the 100 to 50 for $50 risk (or whatever you want). If you change the stop change the .1 accordingly (eg. .2 for 20c). 
• The AvgCost2-.10 and AvgCost-.10 are your 10c stop. So if you change these to -.20 (20c stop) then also change Share=100/.2; as noted above.
• The :AvgCost2+.20 is the (in this case) 2:1 profit target, so 20c reward. If you make one with a 20c stop then this one could be .40 for a 40c reward.
• The QTY:POS*.20 and QTY:POS*.80 determines how much it sells at the profit target. In this case we are selling 20%. You could make both numbers .5 if you wanted to sell half at the profit target.

Long 10c: 

Share=100/.1;ROUTE=LIMIT;Price=ask+.05 ;BUY=send;TriggerOrder=RT:STOP STOPTYPE:RANGE LowPrice:AvgCost2-.10 HighPrice:AvgCost2+.20ACT:SELL QTY:POS*.20 TIF:DAY+;TriggerOrder=RT:STOP STOPTYPE:MARKET STOPPRICE:AvgCost-.10 ACT:SELL QTY:POS*.80 TIF:DAY+

Short 10c:

Share=100/.1;ROUTE=LIMIT;Price=ask+.05 ;BUY=send;TriggerOrder=RT:STOP STOPTYPE:RANGE LowPrice:AvgCost2-.10 HighPrice:AvgCost2+.20ACT:SELL QTY:POS*.20 TIF:DAY+;TriggerOrder=RT:STOP STOPTYPE:MARKET STOPPRICE:AvgCost-.10 ACT:SELL QTY:POS*.80 TIF:DAY+

 

Enjoy!

Heh Miah!,

Thanks for sharing these hotkeys I've just been trying these Hotkeys out today and they're great for my strategy!

Just noticed that the Short Script wasn't working so I've had a play around and I think I've managed to get something that works

Short 10c:

Share=100/.1;ROUTE=LIMIT;Price=bid-.05 ;SELL=send;TriggerOrder=RT:STOP STOPTYPE:RANGE LowPrice:AvgCost2-.2HighPrice:AvgCost2+0.1ACT:BUY QTY:POS*.50 TIF:DAY+;TriggerOrder=RT:STOP STOPTYPE:MARKET STOPPRICE:AvgCost+.50 ACT:BUY QTY:POS*.50 TIF:DAY+

I hope that helps,

Alex, UK.
 

 

[2023 Meet-Up in London, UK Jan 5th]

2 minutes ago, t0rdn3 said:

Hi Alex,

The commissions are on their website and are the same if you trade from the UK.

https://www.interactivebrokers.co.uk/en/pricing/commissions-home.php

Just make sure you know the PDT rule, so you must have more than $25k on your account, else you will be limited to the amount of trades you can do a week.

https://www.interactivebrokers.co.uk/en/trading/margin-stocks.php#:~:text=Overview of Pattern Day Trading ("PDT") Rules&text=Pattern Day Trader%3A someone who,subject to the PDT restrictions.

hope that was enough to help you out.

Christopher

Thanks Christopher,

Yes that's great! I thought the commission were based on residence which is where I was getting confused.

From what I can gather the commissions are dependent on the market traded and are the same wherever a person is based which is reassuring as the UK commissions seemed a bit steep!

Yes I know the PDT, my plan is to mainly trade in SIM for next few months and then take 2 or 3 live trades a week to stay within the rules.

Thanks for your swift response its very much appreciated.

Hopefully if it all works out I can attend one of the UK meet ups in the future as well!

Cheers, Alex.

 

 

[2023 Meet-Up in London, UK Jan 5th]

Hi All,

Sorry to go off topic here but I'm struggling to understand this fully and I'm hoping that you guys would be best placed to help.

I'm at the stage now where I am looking to open an account with interactive brokers and I wanted to understand commissions for UK account holders.

Are there any IB account users on this thread that would be happy to share a screenshot of their commission charges as an example at all?

All the best,

Alex,

Midlands, UK.

[Recommended Brokers]

Hi everyone,

New member here based in the Midlands UK.

Are there any active traders in the group that are happy to share what brokers & accounts they use for trading US & also European stocks?

BBT traders seem to go down the IBKR route but I'm just wondering if that's also the best route to go down if you are based in the UK.

Cheers!

Alex.