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NinjaTrader last won the day on August 11

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About NinjaTrader

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    San Diego, California, United States

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  1. In aggregate all those factors (thanks spoTT for a great explanation of each) make this a "high conviction" trade. I wouldn't necessarily get hung up on one thing. Decision making in trading requires the ability to factor in a lot of different variables in synchrony. Good traders like Andrew can "read" all this while watching the price action and make really fast decisions and nail great entries and exits like none of us could. In addition, MU and AMD are his goto stocks that he ccould probably milk his daily goal even when they are treading sideways...which brings up an important point. It pays to keep a watchlist of stocks/ETFs that are always gapping a bit on decent volume like FB, AAPL, NVDA (Norm), MU & AMD (Andrew) ROKU, NUGT (Brian). I keep separate lists for staple stocks and then also IPOs like LYFT, UBER, ZM, PINS that seem to rear their head every now and then. I trade MU and AMD now and then but the low price also requires large position sizes for scalpers so on a day where many "staple" stocks are gapping with SPY I prefer trading AAPL, FB or ROKU.
  2. SpoTT on....lol Looks like a perfect entry on a weak stock that had some short covering on the 2nd 1min candle...whether I take this trade depends mostly on whether I see the bounce (short cover rally) completed or at least 75%+ complete...I can live with a bit more bounce but unfortunately many times in the first 5min these bounces can also get pretty ugly...now as SpoTT nicely lays out the odds of that happening are not very high...one way of hedging against continued bounces is to take 25-50% of your full position..if the stock continues to push up you can add more to the position..now this can backfire too and it all depends on your risk tolerance and assessment of the price action...which can become difficult to view objectively once you enter the trade. Maybe Andrew cares to explain this trade as he saw it....
  3. Does CenterPoint offer a Per-Ticket-Plan as opposed to the per/share pricing tailored to BBT members? It seems they offer it to other customers.. https://centerpointsecurities.com/stock-broker-dealer/pricing-brokerage-fees/ Per ticket pricing would be useful trading larger position sizes where per share pricing can get expensive once you scale up >1,000 - 2,000 shares. Any info appreciated... Thanks Marek
  4. NinjaTrader

    Podcast with Dr. Brett Steenbarger!

    Trading can become addictive...the good news is that you reflected on this addiction...take note and act upon to counter the tendencies/demons that drive us to make bad trading decisions. This is basically the same type of addiction anyone who gambles, binge eats, smokes or drinks heavily suffers from. It gets gas lit by all the tools that are at our disposal online to fuel these bad habits. I think this is a big problem for many of us. Watch Andrew how he steps away from the trading desk. You need to override the urge to repeat..b/c what worked well for a little while will become your downfall if it's consumed in an overdose...it's the same phenomenom in trading.
  5. That's probably the best one..there's a few more..:)
  6. How about dog friendly beaches....:)
  7. Should be a great meetup so have fun! Just a bit too far for me with over 100mi. drive from San Diego..and LA traffic... Be fun to do one of those workshop style meetups here in San Diego. It's a cool idea William had. Maybe you guys can entice him to come to join us next time in San Diego....:)
  8. NinjaTrader

    Elgato Stream Deck

    Whow, that's a steal...I should probably get a second one!
  9. NinjaTrader

    Bonjour from sunny Florida!

    Spend at least 3 months in SIM and save your capital for later....just trying to be realistic..after 3mo in SIM u will have a much better idea about all the mechanics of day trading. That will give you a bit more time to figure out the broker that works best with strategies you mostly trade. Good luck and as an engineer I would think trouble shooting should be a part of your DNA that could work in your favor but there's a lot of other pitfalls that could still trip you up.
  10. NinjaTrader

    Intelligently choosing between IB, SpeedTrader and CenterPoint...

    Others you might want to consider w. per ticket commissions are CenterPoint Securities (geared towards high networth individuals) and E-Trade. I have accounts with Fidelity and it's $4.95 per ticket too. I don't have a margin account and cannot say anything about shorts availability with them. Fidelity does have a nice charting (WealthLabsPro) and trading platforms (ActiveTrader Pro) I just have not gotten around to swing and options trading which I plan to do with Fidelity eventually. I am looking at adding an account with per ticket commissions eventually for day trading when I get to the size that you are proposing on a more consistent basis and have grown my current account sufficiently. From what I have heard from other traders CenterPoint or E-Trade is the way to go if you are looking for shares to short a fair amount.
  11. NinjaTrader

    Ergonomic Hotkeys Layout

    Awesome work ...very creative and empowering SpoTTTrader! Will definitely need to adopt some of your ideas..
  12. Great stuff True, you are da man!
  13. NinjaTrader

    Podcast with Dr. Brett Steenbarger!

    I have watched a fair number of traders talk about how they constantly have to watch their psyche that it not get the best of them so "As of right now the winner has to be carefully monitored as to not blow up my account." is not something very unusual it seems. Having that level of self reflection is an insurance policy...I am going thru the same phase right now where I am scaling up position size while being profitable and I can only confirm...it's a tight rope act...where you need to stay humble all bewhilst capitalizing on some of the knowledge base that you have built. It's fun but there's a lot of things that go wrong so you constantly need to rein in the mustang that wants to go on a wild run.
  14. NinjaTrader

    DAS Trader Pro FAQ

    This is definitely NOT how you create a scanner in DAS. This video is kinda misleading...I kinda stumbled across this mistake..DAS Trader Pro actually has built in scanners that run like mini apps. I use them now every morning side by side with my TI scanners. There's no stock on the TI gap scanners that I cannot pick up using DAS scanners so the most important take home message here for those under budget constraints is you can actually find the same stocks for free using DAS built in scanners. The caveat is that it will spit out a lot more than TI simply bc the scanners main variables are volume and price change (%). So what I usually do is have a montage thats tied to minute, daily, weekly and monthly charts and then flip through each of the stocks that shows up on the scanners. Even though I have TI scanners set up I like to cross validate each stock and as an added benefit when a day opens dry like this holiday Friday I will find a few more stocks I can put up on watch. To setup the scanner...go to Tools>Scanners and that will open up a window that you then can work through the configuration variables. How to configure...you can ask for a specific volume or price change..e.g. this is a separate topic I have brought up with mods here. Hopefully, they one day move that up on their priority list to empower traders by teaching them how to configure scanners to meet various needs. That's a separate topic that could last several hours of educational videos.
  15. NinjaTrader

    Workshop Wednesday are here!

    Configuring scanners...going over the important variables and implementing them in TI would be something of interest. This may be a more advanced topic though....at the most basic level going over the current scanners Andrew set up for the community in more depth explaining how and why they were configured in a certain way.

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