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Norm last won the day on January 26

Norm had the most liked content!

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  1. Norm

    Austin Texas Meetup

    Guys, if you haven't yet take a look at the TX club and join. Let's try and get some good meetups together this year.
  2. I tried to organize a few meetups last year, but they seemed to fall apart for various reasons. I'd like to see if we can get some groups together as we get closer to nicer weather. If you know of any other Texas based traders that are part of BBT, let them know to join this club. Let's work together to get some nice meetups this year. Hoping to make it to meet you all and also get Andrew down here! Feel free to email me with any ideas or thoughts - norm@bearbulltraders.com
  3. Nice to meet you! Hopefully we get a good amount of members in here and can organize meetups and such.
  4. Norm

    Venting plus big loss

    Keep your head up, Fernando. We've all been in that place at one point in our trading careers. You have the right thoughts moving forward. Reduce size and goals as you get a feel for trading live money.
  5. Norm

    Introduce Yourself!

    Welcome, Steve! Glad you're here and I look forward to seeing you in the chat.
  6. Norm

    DFW BBT Meetup?

    Checking in to see how many might still be available. This would be an informal meetup if you are interested.
  7. Norm

    DFW BBT Meetup?

    Just doing a recount on how many might be interested for a meetup on 12/1? Been hard to get a good group together since we are all so spread out.
  8. Glad we could help, Todd. Lee's answer above should solve your shortcut issue, let us know if you need any more help.
  9. Todd, Is it just the buttons that you're missing? If so, is it possible the montage style got changed? Right click on the grey part of the lower part of the montage and see what style is selected.
  10. Norm

    Introduce Yourself!

    Welcome! I look forward to seeing you in chat.
  11. Norm

    How to go Live Psychologically?

    Let's start with the agreement that the career or activity of day trading comes with inherent risk. As noted in Andrew's book, a large percentage of the total people that attempt to trade will fail. This is due to the fact that it is a deceptively difficult activity. For example, anyone watching Andrew's many recaps on YouTube sees something that has become intuition and from an outside perspective, he is "easily" making large sums of money day after day in the market. What they are not seeing at first glance are the years of training, mistakes, and struggles that it took for him to get to that place. He persevered through the learning curve, as any successful trader has, in order to become consistently competent in his trading. I'm yet to meet or hear of a successful trader that said they did not experience a good sized draw-down of their capital (or complete blow up of an account) before becoming successful, yet most starting out think it will never happen to them. Proper education and practice can drastically increase your odds of success. In order to do the same and make it through this training period with minimal losses we take actions to protect us from ourselves, because in this field we are the only one that controls our destiny. There are many layers of protection for new traders; the most obvious that come to mind are sim trading, trading with small size, and risk controls when all else fails. While trading (especially the way in which we currently operate today) is a uniquely modern task, it triggers some of the most primitive brain functions we posses as humans. From "fight or flight" (losing money/exiting a position too soon), to the rush of neurotransmitters produced causing us pleasure (clicking hotkeys/winning trades). Trading successfully is often in direct conflict of these pre-programmed instincts common to all of us. It takes time and practice to fight these forces. We often use sports analogies to make our point, but I'll go a different direction: Learning to become a pilot has parallels to becoming a trader. While theoretically after months of study and work in a professional simulator, one could perform the tasks needed to complete a full flight on their own from taxi to takeoff, navigation, communications, and landing. However, one would never think it sane to allow a person to make this leap. In order to bridge that gap you must spend many hours with a competent flight instructor by your side ready to take over the controls in an instant (risk controls). Additionally, you don't go from ground school to the controls of a 777. Instead, you spend hundreds of hours in a 2-4 seat, simple airplane at first (small size). The reason is the inherent risk, which is in this case death. From the moment your wheels leave the ground until they safely touch down, you are fighting one mundane, insurmountable force - gravity. Markets work against a trader in the same way as gravity works against the pilot. Both are unchangeable forces far greater than that of the individual. At any given moment there are millions of participants in the market and each and every other person trading is working their hardest to take your money to put it in their pocket. You are doing the same to them. But, you need not be smarter, better, or faster than the entire market, just part of it. Similarly, if you and your friend are being chased by a bear, you need not be faster than the bear, only faster than your friend. Losing in trading, unless stopped early, results in a financial death. At some point you must leap from the simulator to trading real money. The only way to do this and maintain some control over the amount of risk your are exposed to is by trading in smaller sizes. Sizes smaller than what triggers your ingrained fight or flight instincts, while you work out how to deal with the primitive, natural response to a dangerous threat. Once you learn to deal with this stress, you can safely increase your position sizing over time to what your capital is fully capable of. Andrew, or any successful trader, has rewired his brain to diminish the fight or flight instinct that stress causes and in turn produces irrational thought. He's done this by building confidence in himself with the knowledge he is capable of producing positive results over time. This is only accomplished by a track record of hundreds or thousands of successful outcomes. Continue to safely notch those successful wins on your belt, with small size one at a time, until you have the confidence to trade to your full potential Now that I've described the reasoning behind why we feel this way, here are some thoughts on how to trade with a relaxed state of mind: 1) Trade with small size - This does not mean 10 shares, or 50 shares, or 100 shares. By small, I mean small size of risk. 50 shares of MU trades vastly different than 50 shares of TSLA. If you lock yourself into the mindset of a number of shares, this can be disastrous. You can lose $500 in a minute on a low float or TSLA with as few as 50 shares, this is extremely unlikely with MU. 2) Work from the bottom up, not the top down. - By this, I mean before entering a trade determine a reasonable stop with enough room that normal gyrations in price won't stop you out. Then ensure that your reasonable profit target has the appropriate 2:1 risk to reward. Once that is confirmed, decide how many shares you can buy based on the dollar amount of risk you have decided is comfortable to potentially lose. If my max loss is $20 and I need a .30 stop, then the MAXIMUM size I can take is 66 shares. No matter what, I know if I stick to my stop I will only lose $20. This will not hurt me. This enables a relaxed state of mind. **All too often, new traders base share size either on some predetermined number (as I discussed above), or they base it on how many shares they have to take to hit a profit target. Base the share size on maximum risk, not profit. 3) Know that you are going to lose and accept it - We are human, and as humans, we feel a need to be right in the decisions we make. It causes us emotional pain when we have to admit we are wrong. Disengage from this type of thinking and know that there is not a trader in the world that is right every time, this is just something you have to accept in this profession. Fortunes have been made by traders with win rates under 50%, but they had great risk mitigation techniques and exceptional risk to reward in their trades. 4) If all else fails, use external risk controls. - https://bearbulltraders.com/lessons/das-risk-controls/ I wish you the best of luck in your transition from sim to real money! If you find yourself in a bind, always feel free to reach out to any of us that have been trading real money for a while and ask. We are here to help.
  12. Norm

    DFW BBT Meetup?

    Ok, let's give this another shot. Who would have interest in having a BBT DFW meetup on (or around) December 1st, 2018? Please "follow" in the top right part of this forum page so you will receive email updates.
  13. A huge thank you for posting on this. I use the Finviz hotkey dozens of times a day and half the time have had to type the symbol manually because of a dead page. This is really helpful!
  14. Isaac, If IB is available in Israel you might contact them and ask about PDT rule for non-US residents. We've been hearing reports recently that they are not holding non-US residents to PDT rule, but please check for yourself.
  15. Norm

    Introduce Yourself!

    We try to keep the bro talk to a minimum, as we have quite a few female members. Let us know if it is ever out of hand.

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