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Marek

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Marek last won the day on January 8

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About Marek

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    Marek Liyanage

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    San Diego, California, United States

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  1. Marek

    Your Favorite Trading Quote !!!

    “The minute you think you’ve found the key to trading, I promise you the markets will change the lock.” Linda Raschke
  2. Marek

    Tommy's journey

    Agree with Mike, I focus on a higher floats, occasionally I will sprinkle in a trade on a low float but I am very cautious about this as I have a very bad record trading them. The reason I keep trying is b/c I would eventually like to expand the scope of stocks but I have found it's best for confidence to stick within a framework that I have the best track record in.
  3. Marek

    TrendSpider

    TrendSpider might be a useful alternative to commonly used charting platforms like Trading View, Chart Mill, Bar Charts etc.: https://www.trendspider.com/ I mostly use Trading View and then also ChartMill and Bar Charts on and off..Brian Pezim can probably better point out the differences between the different ones. I think e.g. ChartMill's scanner offers features to incorporate company fundamentals. Maybe some of these basic things can also be discussed in one of the upcoming Swing Trading webinars. Seems it's a fairly new piece of software that aims to automate the process of technical analysis. Here's a video explaining:
  4. Just wanted to highlight why Fidelity might be a viable option to active traders. They may not be the goto broker for day traders but they offer a few features that some day/swing traders (in combination) might consider very useful: "ACTIVE TRADER PRO" trading platform: This is Fidelity's proprietary platform for active traders....you get time and sales as well as Level 2 data. Here's a comparision to ToS: https://topratedfirms.com/comparison/thinkorswim-vs-active-trader-pro.aspx https://www.fidelity.com/trading/advanced-trading-tools/active-trader-pro/overview ToS wins slightly but read on ... "WEALTH LABS PRO" Charting platform : This may be the kicker...it's more suited to swing traders using drawing tools and indicators etc....and it's free for customers unlike other charting tools that could cost you $30 or more per month. Read more here: https://www.wealth-lab.com/ WealthLabs also maintains it's own forum for swing and day traders where you can learn more about the s/w and the strategies use and how they research and implement them using the s/w. https://www.wealth-lab.com/Forum/WealthLab/ Fees: $4.95 Yes, this is more on the high side than e.g. IB but if you trade larger share sizes it's somewhat competitive in the package with the trading tools. If/when I am able to take bigger positions I will use them rather than an off shore broker. Margin trading (margin settlement): I am considering using them for trading out of an IRA. You can get margin with Fidelity but I am not sure whether that includes margin settlement which is important for frequent trading to avoid the 3-day settlement rules (e.g. IB offers IRAs with the margin settlement feature). Still need to research that or maybe someone knows about that already. The fee structure makes it such that it's more useful for trading large positions either with margin or larger equity in an IRA. Keep in mind shorting stocks in an IRA is not allowed but there are inverse instruments that you can short many ETFs/tickers with. If you already have a Fidelity account like myself you might consider adding the trading tools for occasional long and day trades that fit the bill. They also have an education center, e.g. go to this link for more videos etc about ActiveTraderPro: https://www.fidelity.com/learning-center/tools-demos/active-trader-pro-platforms/overview News: Fidelity offers a lot of news feeds, e.g. Bloomberg TV is included free. It's a nice benefit that many day trading brokers won't give you for free. Fidelity does not do very much to advertise those trading tools since they cater more to investors...but they are available. You may need to dig around a bit on Fidelity.com to research more about the tools.
  5. I agree, there's only so much you can learn in SIM..how much that is varies from person to person... however the risks you state (willing to lose 20K in a month, 250 per trade and 1000 on a day) seem very high. You should focus on surviving the learning curve without destroying your self confidence. That process on average takes a lot more time... There's a balance between too low and too high of risk levels...some traders never graduate from one level to the next bc they are afraid of losing...and then others who are over confident and end up blowing up accounts....so ultimately you have to bite the bullet to give yourself a serious shot at progressing but remember come Monday you are competing with amongst others the best traders who have years to decades of experience in taking others money and running. Just my 2cents.
  6. Marek

    Swing Trading Ideas

    After a bad earnings call yesterday with missed EPS and revenues TSLA stock dropped broke through down side support back into it's pre Brexit 180-280 trading range from 2013 - 2016. It's post Brexit tradin range has been 280-380 and it has tested this range a few times both to the upside as well as to the down side. To the downside this happened end of March, June, September and then again in October 2018. Each time it bounced back into the upper trading range. Today's dive looks like a deeper plunge into the 2013 - 2017 trading range indicating weaker sentiment among previously bullish traders and investors now more motivated to take profits. In my mind two things can happen: a) a short term bounce back into the upper trading range 280 - 380 over the next week or so or b) a consolidation back into the previous trading range 180-280 from 2013 - 2018. TSLA is an interesting stock where technicals and fundamentals play into the price action so it's difficult to predict what might happen just based on technicals. My bias is it's not going to bounce b/c bullish investors' patience with promises by Elon Musk has been worn down quite a bit so the stock is going to stair step down a bit. I would look to short on weakness in a failed attempt to break back into the upper trading range. An entry around 260-280 would look good with lots of downside potential to 160 or so. Also, check out these articles: https://www.businessinsider.com/tesla-stock-price-closes-lowest-in-2-years-2019-4 https://thereformedbroker.com/2019/04/26/why-tesla-is-a-better-short-at-lower-prices/
  7. Just wanted to highlight why Fidelity might be a viable option to active traders. They may not be the goto broker for day traders but they offer a few features that some day/swing traders (in combination) might consider very useful: "ACTIVE TRADER PRO" trading platform: This is Fidelity's proprietary platform for active traders....you get time and sales as well as Level 2 data. Here's a comparision to ToS: https://topratedfirms.com/comparison/thinkorswim-vs-active-trader-pro.aspx https://www.fidelity.com/trading/advanced-trading-tools/active-trader-pro/overview ToS wins slightly but read on ... "WEALTH LABS PRO" Charting platform : This may be the kicker...it's more suited to swing traders using drawing tools and indicators etc....and it's free for customers unlike other charting tools that could cost you $30 or more per month. Read more here: https://www.wealth-lab.com/ WealthLabs also maintains it's own forum for swing and day traders where you can learn more about the s/w and the strategies use and how they research and implement them using the s/w. https://www.wealth-lab.com/Forum/WealthLab/ Fees: $4.95 Yes, this is more on the high side than e.g. IB but if you trade larger share sizes it's somewhat competitive in the package with the trading tools. If/when I am able to take bigger positions I will use them rather than an off shore broker. Margin trading (margin settlement): I am considering using them for trading out of an IRA. You can get margin with Fidelity but I am not sure whether that includes margin settlement which is important for frequent trading to avoid the 3-day settlement rules (e.g. IB offers IRAs with the margin settlement feature). Still need to research that or maybe someone knows about that already. The fee structure makes it such that it's more useful for trading large positions either with margin or larger equity in an IRA. Keep in mind shorting stocks in an IRA is not allowed but there are inverse instruments that you can short many ETFs/tickers with. If you already have a Fidelity account like myself you might consider adding the trading tools for occasional long and day trades that fit the bill. They also have an education center, e.g. go to this link for more videos etc about ActiveTraderPro: https://www.fidelity.com/learning-center/tools-demos/active-trader-pro-platforms/overview News: Fidelity offers a lot of news feeds, e.g. Bloomberg TV is included free. It's a nice benefit that many day trading brokers won't give you for free. Fidelity does not do very much to advertise those trading tools since they cater more to investors...but they are available. You may need to dig around a bit on Fidelity.com to research more about the tools.
  8. In this video Mike Herman discusses various aspects traders need to consider when trading the market open (as opposed to midday which are less volatile): Also, another interesting video on how he traded the earnings "gap fade" - one of his main strategies - on FB yesterday:
  9. Hey Kyle, thanks for all your input....I just got a refurb Elgato Streamdeck from Amazon for $119 and installed it on my PC. I am on the latest version of DAS 5.3.0.10 and also downloaded your compressed file with your configuration. It will probably take me a few weeks/months to learn how to use and configure and so I will probably also have a few more questions.
  10. This 15" MSI gaming laptop rig is a steal at the $829 price point on Newegg....if you prefer Amazon go to MSI's website and have yourself redirected to buy it at Amazon for $20 more https://www.newegg.com/Product/Product.aspx?item=N82E16834155111&bc_pid=TjgyRTE2ODM0MTU1MTEx&utm_source=Bluecore&utm_medium=BehEmail&utm_campaign=Cart_Abandon_1&cm_mmc=EMCCA2-042019-_-ASC-_-Bluecore-_-Content&obem=5muQwh4lvm2JSygphSsyzJ24as7o_8gIQz6hVj3ysEw%3D&bc_lid=18 MSI GF63 8RD-088 15.6" 60Hz IPS Intel Core i7 8th Gen 8750H (2.20 GHz) NVIDIA GeForce GTX 1050 Ti 16 GB Memory 256 GB SSD 1 TB HDD Windows 10 Home 64-bit Gaming Laptop GeForce GTX 1050 Ti 4 GB GDDR5 Intel Core i7 8th Gen 8750H (2.20 GHz) 16 GB Memory 1 TB HDD 256 GB SSD 15.6" 60Hz 1920 x 1080 eDP IPS-Level 45% NTSC 14.13" x 9.99" x 0.85" 4.10 lbs. 1 x HDMI (4K @ 30Hz) 1 x USB 3.1 Gen 1 Type-C 3 x USB 3.1 Gen 1
  11. Marek

    Suggestions for BBT Challenge 2

    a curved point system has some key advantages..it stretches the field and provides more incentive to work towards a higher absolute PnL. At the same time it penalizes busting your account b/c you are guaranteed a bottom spot...this is similar to how poker tournaments reward players... e.g. if you have 10 players a linear system would assign points 1, 2, 3....10 for each place. A curved system e.g. 1, 2, 5, 10, 20, 50, 60, 75, 90, 100. A linear system rewards the average more than a curved system. The curved system incentivizes players to not get comfortable but also to avoid gambling. Obviously the shape of the curve can be modified according to what the commissioner thinks it should look like or wishes to achieve so it also offers more flexibility to reward or penalize certain kinds of strategies.... Just my 2c..
  12. Agree with Ecaderet....market tops can take a while to form but the triple top (technically the third top is still forming) shows that the market is getting "exhausted" every time it tries to rally to a new high. Anyone feel like the market's been frothier in 2018? VIX has been jumping up and down quite a bit...increasing volatility could be part of the market's exhaustion/toppiness. For us as day traders that's nice...as an investor not so sure how much volatility I can stomace...2018 had at least 2 larger corrections and a bunch of retracements that came after the big drops. I recommend reading a book on the "the big debt crises" by Bridgewater Associates hedge fund manager Ray Dalio which dives deeper into how market and business cycles are effected by debt levels and how you can use that to possible anticipate what might be ahead of us the next few years: https://www.amazon.com/Big-Debt-Crises-Ray-Dalio/dp/1732689806/ref=sr_1_1?crid=2GYV3553PFOYW&keywords=ray+dalio+big+debt+crises&qid=1554419613&s=gateway&sprefix=ray+dalio%2Caps%2C200&sr=8-1
  13. I have been reading up a bit about day trading in IRAs, so thought I would share some info here. Below is a 1 hour video about this topic from which I have summarized the main pros and cons. DISCLAIMER: I am not providing investment or tax advice. You need to consult with an expert to get proper information. https://www.youtube.com/watch?v=qsLqsL9X-To&t=3064s PROS: - Zero taxes if you trade within a Roth IRA. Monies that go into Roth IRAs are already taxed so the IRS gives you the big break on all the gains you make. - No taxes on gains until you withdraw at retirement age if you trade within a regular IRA. Then you will probably be taxed at a lower rate than currently depending on your income requirements to cover your expenses. Monies that go into regular IRAs or are rollovers from 401Ks are funded with monies that are deducted from your income pre tax. That's the tax break you get at the time of funding but then you are taxed once you take out monies later at retirement age. CONS: - no withdrawals until retirement age (or with a penalty) - only long positions can be taken. No shorting stocks - no margin leverage, buying power is limited to the cash equity in the account. - for unlimited day trading within buying power you will need a broker that provides an IRA account with "margin settlement" (e.g. IB and TDA, most other brokers commonly used by day traders don't). NOTE: you need to clarify with the broker that he is giving you settlement margin, i.e. will let you access funds immediately after you close out a trade and they are not subject to the 2 day settlement period that applies to regular brokerage and retirement accounts. E.g. if you don't have margin settlement and you use all your BP to buy and sell AAPL shares in Trade #1, then you won't be able to use those funds again for Trade #2 until the trade is settled which normally takes 2 days. - PDT rule similar to regular margin day trading accounts applies: you are required to maintain an equity balance >$25K for unlimited day trading. This is the same rule that applies to any margin day trading account. If your balance is below $25K you are limited to 3 day trades within a 5 day rolling period. Note: each exit counts as a trade so if you scale out 3x on the same initial entry trade (e.g. you bought 1000 AAPL shares then sold, 500, 250 and 250 on the same day that counts as 3 trades. - there's an annual limitation on contributions to IRAs ($6,000 or $7,000 if you are over age 50 in 2019) so if you already maxed your contribution you won't be able to make an additional contribution. e.g. if you already have an IRA with 20K and then add 6K to break above the 25K limit for day trading and then lose 2K you won't be able to day trade until the year after when you can make another contribtion. Note: you can still make 3 trades within the 5 day rolling period so potentially could get above the 25K limit again. As you can see you need to carefully asses whether this makes any sense but for a few traders it might. Trading in an IRA makes more sense if you already have sufficient income to cover your living expenses and you believe you can grow IRA savings at a higher rate than by regular buy-and-hold investing in the markets while deferring some or all of the taxes to retirement age. From all this it should be clear that you need to be adequately capitalized and have a clear plan how this will work based on your current day trading success rate. Once you have decided this is for you and open an IRA with margin settlement e.g. with IB it's easy to add a second account to the DAS platform ($50 monthly for additional account). You can then chose the IRA in the montage whenever you decide you want to use funds in that account to take long positions.
  14. Marek

    Trading Journal - Marek

    After bouncing around various formats of journaling during 2018...this is what I have settled on in 2019: DAILY (usually evenings so there's been time for me to relax a bit from trading): - TRADE REVIEW with charts, entries, exits, support and resistance etc at then end of the day on DAS trading platform. I mostly focus on trades that were poor for one reason or another and make some mental notes on what I need to improve. - Upload trades to TraderVue: I use IB's report feature to download a text file that can be imported into Tradervue. This allows me to capture trades with commissions and ECN fees in my trade log. - Then I annotate the trades in Tradervue with the notes I made to myself in the trade review earlier. I also create "tags" and the "notes" feature, e.g. will create a tag "bad entry" etc. which makes it easier later to find trades with bad entries later. - Finally I export all trades daily with the notes into an excel file that I can further use for accounting and monthly, weekly and daily analyses together with the notes and tags I created in Tradervue. This way if I later decide to change an online service I still have a log of all my activity together with my trade review notes. WEEKEND: - Go over the week and months activity. I have about 15 trades generating about 45 tix daily so that's probably a bit more than many traders might have so I tend to focus on the few bad trades and not spend too much time analyzing average trades. The trades that went well I know I need to scale out a bit better to capture more of the meat of the move. Then also usually my entries are not the best since I tend to be more on the "chasing" side rather than get in on the base that might have formed on a pull back. A lot of what I need to improve is not identifying setups but improving execution of trades and then also reducing the number of trades overall that I take.
  15. Storage prices (DRAM, SATA and NVM M2 PCIe SSD) are falling fast and furiously...not sure how much longer though, so it might be a good time to make those upgrades you have been putting off... e.g. 16GB RAM DDR4 2666Mhz (specs for my PC) $79 on Newegg or $89 on Amazon: https://www.newegg.com/Product/Product.aspx?Item=N82E16820232766&Description=16gb ddr4 2666&cm_re=16gb_ddr4_2666-_-20-232-766-_-Product https://www.amazon.com/Ballistix-Single-PC4-21300-288-Pin-Memory/dp/B01N7RQ882/ref=sr_1_9?keywords=16gb+DDR4+ram+2666&qid=1552952080&s=gateway&sr=8-9 SATA SSDs: e.g. 480GB Teamgroup SATA SSD on Newegg for $49 https://www.newegg.com/Product/Product.aspx?Item=N82E16820313866&Description=team group ssd&cm_re=team_group_ssd-_-20-313-866-_-Product NVM M2 PCIe SSD: e.g. Samsung 970 EVO Plus 500GB on Amazon for $127 https://www.amazon.com/Samsung-970-EVO-Plus-MZ-V7S500B/dp/B07M7Q21N7/ref=sr_1_2?keywords=nvme+m2+500gb+ssd&qid=1552957910&s=electronics&sr=1-2 NVM SSDs are much faster so probably the way to go...Samsung provides s/w to clone your drive or there's Macrium's freeware that does the same: https://www.macrium.com/reflectfree
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