BBT Member 001
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Posts posted by BBT Member 001
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On 3/6/2019 at 5:56 PM, ecadaret said:Hi all,
I saw this article yesterday. The tax is fairly minimal, but what i think is silly is that it taxes all traders and it blames "high frequency trading" for the volatility of the market. We all know that the markets are volatile because of institutional traders making their moves and that is what drives the prices in significant ways. Everyone else joins in for the ride and try's to capitalize. I am not sure if similar bills like this have been proposed in the past (i am sure it has). Curious what ya'll think.
https://finance.yahoo.com/news/lawmakers-introduce-bill-to-tax-wall-street-211353714.html
If this happens i will give up my US Citizenship. This will not pass. it will take a huge toll on mainstreet also, think of all the 401k money that is deployed every week to stocks and etfs that would have to pay .2%. this is higher than a sector fund management fee. This will not pass and she will not even win elections.
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Hi Jean-Pierre,
Interactive Brokers is the most reputable company out of all of them. It is a publicly traded company, it has most assets under management and longest track record. Also, Andrew uses IB.
The other providers are also good but if you have over $25k i would recommend interactive brokers.-
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On 6/17/2019 at 9:22 PM, Lucy L said:So is Lv2 still 100% meaningful without AMEX, BX and BATS.. ? I'm still learning to read the Level 2 data...
Great question, i assume they include more orders so it is better but das has the most important
On 6/17/2019 at 9:22 PM, Lucy L said:So is Lv2 still 100% meaningful without AMEX, BX and BATS.. ? I'm still learning to read the Level 2 data...
i don't believe the difference will affect you trading decision.
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On 7/16/2019 at 11:33 AM, Jean-Pierre Poulin said:Thanks Johan, much appreciated. It looks like its a tossup right now between IB and SpeedTrader. I'll have to do a bunch of reading to try to intelligently pick between the two!
i think both are good, my only reason for interactive brokers was its track record and good fills i get. also they always have shares for short
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6 hours ago, Jean-Pierre Poulin said:Hi guys,
I'm still in the process of setting up the right broker for me and these fees seem quite high! (Especially paying 5% of $50K = $2,500 per month = $125 per trading day.)
More info on your usage please:
Johan: How many full-cycle trades per day? What average share size? Did you find exorbitant fees ontop of regular (low) IB commissions?
Marcel: you pay around $10 per full-cycle trade? Which broker?
What do you think is best for my needs? (Described here)
AMD or MU i normally do 1k, yes i pay about $10 round trip.
$50 per day more or less. Im not proud of it though.
I use interactive brokers -
Just now, Robert H said:Yes. Also, maximum number of charts is 30.
ohh im gonna have to return the 17 monitors i bought yesterday....i should have asked before
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Is 10 the maximum # of montages one can have?
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4 hours ago, RTrader said:Exactly, the pace the of tape is really important. I don't even have L2 anymore. Just watch tape and chart. Chart patterns mean nothing if there is no orders coming through on the time and sales. Traders can manipulate L2 and hide orders, but nobody can hide from the tape
I agree with you. I think the level 2 has some usefulness but the tape itself tells a lot.
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I pay around 2%, of my capital ~$30k, normally about $30-$50/day . i trade around 3-5 trades per day 1k shares for stocks like MU.
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I found a strategy called "Unusual Number of prints" which tells you the stocks whose tape is moving faster than average. I will start using it tomorrow.
Something that has helped me improve my trading is never trading a stock with a slow time and sales, the higher the # of prints the better. -
So it could be an ABCD because it is downtrending but the move is so slow it is just chopping out, the consolidating candles are almost reaching possible entry point so you would get stopped out most of times.
Maybe i'm wrong but when i see this pattern it reminds me of stocks that have a slow tape and just algos trading it with blanket orders wiping everyone out on the long and the short. -
I've used TWS, Think or Swim and DAS and prefer DAS miles ahead.
TD Ameritrade sells order flow, Interactive Brokers does not so fills under IB with DAS should be better
I canceled DAS for one month and tried both TOS and TWS different days and after two weeks I was frustrated as with DAS i can switch between montage and do everything using my keyboard and it is way faster and cleaner.
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volume is also low.
It was not an awful trade, just not either 1) your/my edge 2) textbook setup.
These trades have lower probability of going well as vwap is a very important determinator to if the stock will be green or red for the day -
I took that trade before you. Trading reversals is tough especially at VWAP.
I got stopped out also.
See below:
You nailed it, get in at MA support, not vwap, also go long when it crossed vwap holds it and pulls back.
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Is it true that we can ask DAS to add ARCA order book and remove one of the features
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Level 2 is really an alias to order book for different exchanges> In DAS you will get NYSE and NSDAQ but you have to ask for them to add ARCA. I think AMEX, BX and BATS are not there, not 100% sure.
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I would like to add. Is it possible to have a discord or chatroom where members can chat with each other live via microphone???? It is easier than having to write on a chat when you are so focused, there could be some rules around it. It could even be a text to speech or something.
It would also be great if for analytics purpose to benefit the community, we could link DAS to the chatroom or a platform where trades are recorded so we can gather data and go over trades that many people did, if they don't come up well we can discuss possible reasons they did not.
I think there is a lot of intelligence we can obtain from combined trading behavior that can benefit community as a whole. -
What made me join BBT:
1. Transparency and Honesty - not a get rich quick, trade in sim first, you will not make thousands per day. it takes time to do this.
2. Andrew's personality - humble, with feet on the ground. His reason for trading is a combination of passion for it + the freedom it brings and flexibility. I see money the same way he views it as a tool.
3. Variety - I like Andrew's trading style but I have also learned alot from Brian on swing trading and in general about market behavior; he seems to understand the market in a holistic way which comes from experience. Some people trade at open some at close, some do penny, some mid. Great for all personalities.
4. Mentors and members - combination of professionalism, humbleness with sense of humor. This is not an exclusive community where you have to meet certain criteria to join but Andrew has done a great job in selecting moderators and the team he put together and this is important. Mature, professional people with good intentions.
5. No marketing heavy - Andrew has put a lot of effort in building the community and thank you doesn't pay the bills, there are operating costs and costs of time but Andrew does not abuse of this and he does not push things that are not necessary. His opinion on the products he promotes is always honest. He is a smart guy and knows that growing the community organically in the long run will create a better community.
What would I like to see more? Something I like about Robert H is that he shows his failures and he is not ashamed of it, he has done recaps of bad trades and rule breakings, Andrew does this also, he accepts when his trading was bad and when he broke rules and he shows bad habits he had during the session.
I would like to see
1- recaps of bad days from everyone. I commit myself to doing daily recaps even on red days. I learn more from bad trades than good ones.
2. Does not need to get personal as I respect Andrew's privacy but him explaining his journey in detail will help motivate us more those moments where trading gets hard and we feel like quitting. When he said he has been trading 6 years it makes me realize that I am not doing so bad, that it takes more time than i might think. Learn more about some struggles he had in the process of becoming consistent. Things that went through his mind and how he handled them.-
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After being part of BBT for over a year, and going through ups and downs, i hit a rough patch. I've noticed all my vwap and reversal trades are chopping me and have not been working for me compared to simple ORBs.
84% of my green trades based on my trading journal, are ORBs. 10% are engulfings right after an opening range before 9:40 and only 5% are vwap trades or reversals.
I am thinking of just focusing on ORBs. What are your thoughts? has anyone had a similar experience? -
We can try the techniques learned in trading in the casino, martingale strategy! averaging down all the way lol! just kidding
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Just liked it. Are you near Denver on thursday? we are planning a meetup @ Blue MOon
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This would be awesome. less than 2 hrs from Denver so sounds good!
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On 2/23/2019 at 2:52 AM, robotjock said:Is there any chance of changing it to the 6th??? I will be in Denver on that day.
Whats your phone #? We will add you to the group
On 2/26/2019 at 6:51 AM, dshammock said:Lowriskok I'm usually done by 4:30pm during the week. I am available any day after that time. I may be able to meet earlier if I have advance notice.
what is your phone # we will add you to the txt message group
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On 5/14/2019 at 11:45 AM, schaeferjjay said:I should be able to do either of those times on 23rd or 30th.
What is your cel #
On 3/21/2019 at 8:43 AM, DollarBill said:I am thinking we should meet in April for coffee? Any thoughts?
What is your cel #
What is average commissions amount by month?
in Day Trading Brokers
Posted
I tried each for a month each and then calculated the total commission / the total number of shares traded and noted that i ended up paying less with tiered. It is not a material difference though