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Aiman

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Posts posted by Aiman

  1. Posted

    6 hours ago, Stuart said:

    Aiman,

    Thanks for the reply! Yes it's different than the mornings for sure! I will be training the mornings when I can get time off from work. I will be careful at the last hour!

    Thanks again,

    Stuart

    Wish you best of luck!! 😄

    • Thanks 1

  2. Posted

    I'm facing the problems of taking the profits too early and I'm on sim!! And I let my losers hit my stop loss and sometimes even 5 cents below it.. This ruins my winners and I believe it's a terrible way to manage the account. I'm on my way to improve that, let the runners run and cut the losers. Your post is really helpful! it's good to know that most of the newbie traders face the same problems, the better is having advises from those who went through those problems 😄 Thanks a lot! 

  3. Posted

    On 6/27/2018 at 11:05 PM, nicka02 said:

    I know Andrew goes over his strategy of an Opening Range Breakout, ORB, but this strategy only applies to early morning. I live in Hawaii Standard Time Zone where 9:30 NY time is 3:30 AM here, very early, so sometimes it is hard to wake up and instead I've been practicing trading the last hour of the market in simulator with some success. Just today I was watching the candle previous of the very last candle on a 5 minute chart of some stocks and noticed there might be a pattern for a 5 minute Closing Range Breakout. I'm excited to test this out more as I love trading the normal strategy of ORB. Does anybody have any experience or knowledge of Closing Range Breakout? Thank You

    Wow that's interesting :DD I haven't paid attention to that at all! I'll  give it a try

    • Like 1

  4. Posted

    4 hours ago, Stuart said:

    So I have been limited to trading the hours of 2-4 pm EST in the first month of sim. I call them the "Sour Hours" based on the looks on Brian P's , and Andrew Aziz's faces when posed the question on strategies for these hours in the mentor-ship forum. lol

    I had a couple of green days this week, and on Friday I used a simple strategy of looking at the overall trend of the stock from the open, and going with that direction. It worked 2 of 3 trades that day, and I wondered if this thought process seemed valid. I traded stocks from Andrew's watch list in this way, and put a range stop on them so I could step away and not stare at it. I took profit too early, and could have been more patient with my winners, but I was good at being impatient with my losers. I don't know if anyone else in the BBT chat is in a similar situation with trading hours, but if you are, come join me as a "Sour Hour Trader"!

    Thanks to all of you at BBT!,

    Stuart K

    Hi Stuart! I actually noticed the same thing, and I tried to trade that way a few times and it actually works nicely! I was just doing something a bit different, when stock is trending between 1:30 and 3:00 I was buying close to the 9 or 20 ema on 1 min chart or close to the 9 ema on 5 min chart and scale out, and buy again close to the moving averages,  sometimes when I was not in mood I was waiting for the stock to go close to the moving average then go with the trend + spend time reading the chatroom) I'd say I'm a bit cautious about the last hour of the market since it's also volatile, I believe traders come to cover, or sell, or maybe buy more to hold overnight, so the trend usually breaks out after 3 xD I'm trying not to follow this strategy after 3:00 pm. 

    It's good to know you're practicing this :DD Let us know how it's going with you! 

  6. Posted · Edited by Aiman Almansoori

    Hi all, I've been planning to buy  MSI Gaming GeForce GTX 1080 8GB GDDR5X SLI DirectX 12 VR Ready Graphics Card (GTX 1080 GAMING X 8G) , I've a question hopefully someone helps me before I ruin everything 😛

    Will I be able to connect 5 24 monitors using this graphic card or maybe 5 22? If not, will it be possible to connect 4 27?))

    Or someone has any other suggestion

    thanks in advance:D

  7. Posted

    Honestly, for me 1.5 or 2 hours after the market opens aren't the best time for trading, but hey! It's still possible to have good greats even after 2 hours of trading :D, it's just different from the opening. I've been trading last 3 weeks on all the times possible and that's to figure out my own trading strategy and the time that fits my personality. You won't get as much huge movements as you'll the first hours, but you still going to find some, so that's a plus if you are willing to trade those huge moving stocks. However, most of the stocks that time are moving slowly, but it's also good on the other hand because mostly they're movement is trending, it's easier to anticipate their movement after and hour and + from the opening. You still need to find a good entry to go with the trend.

    Anyway, to trade in the late market hours the stock needs the same requirements as the open, it should be in play, it needs volume, it needs to be traded by retail traders, and it shouldn't be choppy. Later on the day I trade the same stocks I traded in the morning btw, most of which are from Andrew's watch list, not all of the stocks traded in the morning are good to trade mid day anyway, check the volume, maybe they lost the interest, and they stopped moving enough to make profits.

    Choosing a stock isn't so difficult, mid day or market opening, I think the requirments are the same)

    • Like 1

  10. Posted

    It could've been worse if we think about it, imagine it kept going down and down after you averaging down the stock? You could've got with much more loss, but it went higher, which was unlikely then, I mean especially after it broke the VWAP, I would have done the same thing you did btw. I mean going long, then averaging, then it breaks the VWAP which is usually a stop loss, luckily the stock bounced back! Time to get out before it drops again! You did well going out I think:) However,  Looking at five minute candle made it pretty clear that it's bullish. I face the same problem with realized and unrealized amount, and my scaling depends on the number written there, I'll try to disable it tomorrow and see how it goes) Thanks for your post 😄

    • Like 1

  12. Posted

    I honestly believe you can't figure them out)), You'll need access to information retails traders aren't allowed to view, for example, how many shares were shorted today? It'll be great if we knew that, wouldn't it? xD I believe I read somewhere before that we can get that data but it's way too expensive, more expensive than its worth))

     

  13. Posted

    On 6/14/2018 at 5:45 AM, boris shalomov said:

    Hey Guys I am still learning on how to trade...

           Why do professional day traders Look at daily charts? What are they looking at, how are they identifying what they are looking at? Can someone show some examples please

     

    thank you

    I'm still learning as well, I'll tell you what I believe is true, hopefully someone corrects me if I'm mistaken

    A daily chart is very important to find support and resistances, I believe you know what support and resistance is. If you use Andrews DAS setting you already have some levels for support and resistance which is yesterdays low and high and two days ago low and high. Then you can set to more levels which are pre market high and low. Now let's go to the daily chart, first supports and resistances you can take are the moving averages on daily charts especially if they're close to the current price action because the stock is highly reaching it and you can make that level you target for short or long. Secondly, let's say the stock is moving between 7-9$, and you need to find supports and resistances in that area or maybe above it or below it, you'll go through the daily chart searching for the period the stock was trading between that range or above it or a bit below it, find a level at which the stock bounced from, and mark it as a support or resistance to use it as your target later maybe. Traders also look at daily charts to know if the stock was a former runner, if the stock was a former runner, it means it has the possibility to run again if it gets the volume or news! It's also good to know if the stock in all times high or not, and if the stock is trending up or down for the past few days weeks or a period of time.

     

    • Like 1

  15. Posted

    14 hours ago, KyleK29 said:

    I'd say it's not worth it. For way way less you can do a DIY one with an old HID Numpad, some free software, a printer, and some glue (you'd have to print the button icons anyways). They're charging a heavy premium for having translucent key covers over what's just a glorified USB number pad.

    This video breaks down what's needed for a DIY approach: 

     

     

    Also, didn't mean to post in a new post, but still trying to learn the new forum software.

    That's really helpful!!

  17. Posted

    On 4/5/2018 at 11:38 AM, Robert H said:

    I'm with IB and currently trade 100 share sizes. My commissions are 0.0035/share, with a minimum of 0.35 per ticket. This is considerably less than CMEG, but maybe my scaling out strategy could provide some insight.

     

    I exit 1/3 of my current position at a time. So starting with 100 shares, I exit the first 33 shares after a 0.25 to 0.30 cent move. This leaves me with 67 shares. If the price action is choppy, I may exit another third (22 shares) at this same level. The remaining 67 or 45 shares I hold onto until my profit target. Here I usually tap the hotkey 2 to 4 more times and try to maximize profits. I keep my last 10-20 shares until break-even or new 5-min low/highs. Since I am mostly out, there is no rush to exit and I watch for bullish/bearish signals. A typical round-trip trade is usually 5-7 tickets.

     

    This exit strategy isn't feasible at $2.95/trade on 100 shares. Perhaps you could exit in 2 steps. First half after a sizable move in your direction, and the last half at your target. This way you can lock in some profit and move your stop to break-even.

     

    Trading low floats in an attempt to minimize commissions is a very risky strategy. With a smaller account, I would recommend that you focus on surviving the learning curve until you can grow or add more capital. Breaking even after commissions in the first few months is considered success in my books. My two cents.

    Hi Robert, Thank you for this explanation.

    I do have a question anyway.

    I'm trading in simulator now, but I don't use break even as my quit target. I always try to trade 5 cents above a moving average or technical indicator so I can set a stop loss 5 cents below that technical indicator. This way my stop loss usually hits after 10 cents in the opposite direction. I try to make my profit target 20 cents or more above my entry point. But 20 cents sometimes is a big move I can't expect, so I usually take half position profit when I reach the 10 cents profit, and leave half either for break even or for the stock to move higher. This way I cover the IB commission and 3$ next to it if I take 100 shares minimum.

    Now the problem is, with this strategy my risk to reward becomes 1:1 if I hit my final target, and even less because I take only half of the profit most of the time, and then  if the stock moves against me I quit at break even with 3$ profit after the commisions while I was risking 10$, if it hits my final target (2:1) gets hit, with this strategy it becomes kind of 1:1 because I scaled out. It's not that bad in the end but what I don't like with this strategy is the following:

    It's typical that after entering a trade one starts with -1/2$ because of the spread, depending on size of course, if the stock goes against me right after I enter it I end up losing 10$ after hitting my stop loss, which isn't so favorable considering I take full loss and scale out of a winning trade, this way my losses are equal to winnings. 

    I think this strategy will work better with more shares maybe, I'm not really sure..

    I was thinking of something but I don't know, would you recommend I set my stop loss at break even if the stock starts moving up? I mean it starts -1/2$, if it gets +4, then falls to 0 I just have to quit? Or I should give it 2/3 cents below it? This way there won''t be a technical indicator for a stopp I believe.. Or I should just try to take better entry points? 

    I've been green in the simulator for like 10 days out of 12, I don't average down and stick to the rules, but still this is a simulator, that's why I stick to those 10 cents stop losses and give the stock time to adjust, I don't know if I'll do that with real money 😕 I'm following the strategy only because I've to follow rules, it pays of for now, but the risk to reward isn't favorable

    Sorry for making this way too long -.- hopefully you've time to help me with this))

  18. Posted

    On 1/6/2018 at 12:46 PM, Ryan W said:

    Hi everybody! I just wanted to share a piece of software that I found recently. It's called HIDMacros: http://www.hidmacros.eu/ The developer has stopped working on it, however it works just fine with the last release.

    What HIDMacros allows you to do is connect another keyboard and program ANY of the keys on that keyboard to perform any type of function (macros as well). I use TradeStation for my platform/broker and I created a number of order entry hot keys and macros (for TradeStation) that I would execute from my primary keyboard. The problem was, I had to do a lot of Ctrl + or Alt + and I could ONLY use SOME of the function keys (the 'F' keys at the top of your keyboard). I couldn't use any other key since those keys served some other function in Tradestation. This became rather cumbersome and I ended up encountering WAY too many order entry errors as a result. I was looking into Stream Deck: https://www.elgato.com/en/gaming/stream-deck but it only works under Windows 10 (I am running 7). There are other hardware alternatives like X-Keys Xk-24 http://xkeys.com/xkeys/xk24.php but they are rather costly.

    So, with the help of HIDMacros and a second USB keyboard (a regular 104-key keyboard, nothing special), I was able to program the number pad on my second keyboard to execute the hotkeys I programmed in my trading platform. I then used tape and different color paper to tape over the keys with the function. So red for sell x amount of shares or sell the entire position, Green for Buy x shares. Blue for Short and Orange for cover. As well as cancel open order and "Emergency" exit position buttons as seen in this picture: Custom Programmed keyboard

     

    It wasn't very difficult to do at all and it saved me some money until I decide to upgrade to Windows 10 and get the Stream Deck. What I also like by using the second keyboard is I am NOT limited on the number of keys I can program. I theoretically have 104 keys that I can program to do anything in my trading platform.

     

    I used this guide to get me started: http://www.instructables.com/id/Making-a-powerful-programmable-keypad-for-less-tha/

     

    Please note, I am using Tradestation. I am not sure how hot keys are mapped/programmed in DAS, but I am sure it can be fairly easily done since it's essentially the same premise.

    Hi Ryan, Does this still work if I try to do it now? Or it's impossible to use that website anymore..

  20. Posted

    Hi guys, I'm still buying some stuff to build my PC, and I really need a suggestion here.

     

    Currently I've this ready to buy.

     

    1)Intel Core i7-8700K Desktop Processor 6 Cores up to 4.7GHz Turbo Unlocked LGA1151 300 Series 95W BX80684i78700K

     

    2)MSI Arsenal Gaming Intel Kaby Lake Z270M DDR4 HDMI USB 3 CrossFire ATX Motherboard (Z270 GAMING PLUS)

     

    3)Samsung 250GB 970 EVO M2 Solid State Drive

     

    4)Corsair Vengeance LPX 16GB (2x8GB) DDR4 DRAM 3000MHz C15 Desktop Memory Kit - Black (CMK16GX4M2B3000C15)

     

    5)Hitachi 2TB 7200RPM 64MB Cache SATA III 6.0Gb/s (Heavy Duty, 24/7) 3.5" Internal Desktop Hard Drive (For PC, Mac, CCTV DVR, RAID, NAS) (Certified Refurbished)

     

    6)Cooler Master Vortex Plus - CPU Cooler with Aluminum Fins and 4 Direct Contact Heat Pipes (RR-VTPS-28PK-R1)

     

    7)Corsair CX Series 450 Watt 80 Plus Bronze Certified Modular Power Supply (CP-9020101-NA)

     

    8)ASUS Internal 24X SATA Optical Drive DRW-24B3ST/BLK/G (Black)

     

    9)ASUS GeForce GTX 1080 8GB ROG STRIX Graphics Card (STRIX-GTX1080-A8G-GAMING)

     

    10) x 6 Acer KA220HQ bi 21.5" Full HD (1920 x 1080) TN Monitor (HDMI & VGA port) or x6 ASUS VS248H-P 24" Full HD 1920x1080 2ms HDMI DVI VGA Back-lit LED Monitor

    As far as I read, it won't be possible to connect 6 monitors to Geforce GTX 1080, will it be possible to do that somehow? Or I better buy another one? If I've to buy something else can you reccomened something? I'm also up to suggestions) it's my first time building pc, I've no big experience, but I did some research and I don't really know how good it's

     

    I also thought about using maybe 4 instead of 6 screens but bigger ones, or 3, I don't know)

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