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nickyang07

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  1. That's really awesome! Andrew, can you also suggest them to add Daily moving average in the price marker? It will save lots of time to draw it in the premarket. Sometimes, I also need to manually update it during intraday., since it may change if the price and volume surge.
  2. I can share some of my experiences. I have used TWS for over 6 months. At beginning, it does not have VWAP, which is a big problem. Late last year, it includes VWAP, which is awesome. However, TWS has some big issues: 1. Unstable, very heavy CPU and memory consuming. It is written in JAVA, which is no wonder to be slow. I used MAC, it regularly froze during the premarket. 2. Although the data subscription is much cheaper than DAS, by default you can only open 3 market depth trader (level 2, just like Montage). If you want to open more, you need to buy the data boost package. It depends on your commission per month. They have a formula to calculate how many market depth trader you can open by default based on your monthly commission. Currently, I have 7 montages in my PC, if I want to have the same number in TWS, it will cost more than DAS. 3. TWS has hotkey, but it does not have hotkey for selling or covering a certain portion of your position. This is very useful feature to scale out your trade. Besides, TWS does not have hotkey for chart and other feature. Every time I switch from 5 minute to daily, or other timeframe, it's very inconvenient. 4. TWS sometimes has random number in the Times and Sales window. I don't know if it's caused by the same issue as market depth trader, it's really annoying. 5. It does not have price marker (YY high low, Y high low, etc.). This is very bothering to draw level before the market open. Good thing of TWS compared with DAS: 1. The watchlist is synced. Every time you input a symbol in a watchlist, all other watchlist is updated. In DAS, you have to input one watch list by one. 2. The chart trend line is also synced per symbol. You draw a horizontal line, it will also appear in other chart if you switch to the same symbol. In DAS, you have to save it first, and load other chart. This is also very bothering... 3. In my opinion, TWS chart is prettier than DAS. The UI is also better. DAS does not have good UI, but it's really lightweight, and fast. 4. TWS has a completely different login for DEMO account. You will never make mistake on switching between DEMO and live account. I just switch to DAS less than one month. Just like other people, I also made mistake on the account once. LOL. 5. It has Mac version. To use DAS in MAC, you have to either use Parallel, or Vmware Fusion. I use Vmware fusion. But to be honest, I think day trader should buy a windows computer. I have Windows laptop, but for desktop, for some reason, I only have a iMac. Summary: I think DAS is much better for day trading. It will be perfect if it can automatically sync the trend line among charts and watchlist, and also add daily moving average in the price marker! BTW, I have used Active Trader Pro from Fidelity. It's a nightmare!!!
  3. nickyang07

    How to improve patience in a trade

    That's a very good advice. I did that before, but then forgot sometimes. I will certainly try it more.
  4. nickyang07

    How to improve patience in a trade

    Carlos: Thanks so much for your reply. You are right. That's the two sin for day traders. Many of my bad days are because I want to break even. I have to find a way to overcome this psychology barrier. Sometimes I just felt like my performance is doing a consolidation, every time trying to break the resistance, it got rejected, or have a false breakout. LOL. Regarding those two trades, I agree with you. Most of time I don't want to trade AMD, it's very slow. AXON is choppy. Should be more conservative on trading these kind of stock before becoming consistent. You know, I am really amazed how Andrew did on the profit taken. When he is in the right trade, he can always maximize the profit. That's the how he can always be green even with bad loss right at open.
  5. Hey guys. I am really struggling in the consistency. I have major two issues. So far I can have more green days than red days, but I lose too much on red day. I have worked on stop revenging trading when I am in big red. It's getting much better now. But I still did not good in terms of patience. The only time I am patience is when the stock is really in my favor, and it starts to move immediately. Like ORB, I will take some profit in the first or second drop, then I will feel safe to let it run. Most of my good days come from this scenario. However, when stock does not move in my favor very soon. I tend to be nervous, and get out position too early, either with very small profit, or stop out prematurely. For example, today I also made the same trade in AXON (ORBD), and AMD (ORBU) as Andrew. The entry are very similar, but the outcome are very different. (My exit are marked as blue line). As you can see, I took my profit too badly. The pullback of AXON made me a little nervous, so as soon as it give me some profit, I feel like want to take it. For AMD, after I got in, it's in the consolidation for 2 or 3 minutes. Because it's a little bit extended in the 5 minute chart, and there are some levels around 14.90$, I was afraid it will have a big pull back to the EMA9 in the 5 minute. Then I will be struggling whether to add more or prepare to get stop out. Sometimes, I saw Andrew will add more in the pull back. I think it's a right method when the market is a little bit choppy, as long as the stock is still in the right trend. But I will definitely take out my position if it break the EMA9 in the 5 minute chart. I am really curious about the thought process during these two trades. What I can do to execute them better? How should I be more confident to wait for the 5 minute candle to unwind itself. If I am only be patient for couple of minutes, both of these two trades can turn out to be big wining trade. Then I can close my day. Unfortunately, I did not hit my goal, so I kept trading, then it turns to a small red day....
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