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peterB

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Everything posted by peterB

  1. have you noticed that in the majority of your trades which worked you could start to partial at 2R instead of 1R?
  2. nice, welcome back!
  3. it has no development for a year and does not support hot keys tried to run the demo and came up with a java error so for me it is disqualified
  4. Hello fellow members! Yesterday i had some discussion with a friend and i tried to explain him some trading basics and we came to a point when i needed to explain to him why the scaling out properly plays an important part in the whole mechanism and can make the difference between a GREEN and a RED trader in long term. So here i am providing it to you for further discussion. Lets say we do 5 trades of a stock which costs $100 and we take 100 shares with the stop loss on $99.5 and possible target on $101 and above. So a 1/2 Risk/Reward. Here are some example set of trades you do, the first one being a 1R loss, just to make it more visible and make the point So you do various methods of scaling out and make $300, while risking $250. At least you are green! Right? Now lets take into consideration some bad or good habbits. If you do it once, then you do it twice... You would think that things will get much better if you start scaling out on 1R at least but still the risk and reward turns out to be 1:1 in total. So you start to scale out according to the trade plan - by reaching the 2R Things change dramatically in your favor if you start to do the right thing and trade the plan And this is the case some traders tend to do - take some profit at least to be safe... As you can see, it has no ratio to do this and even with 80% accuracy of your trades you do not get the scale on your side. So just do it right! The above examples counted with 4 of 5 trades to be green which is 80% accuracy and that is quite unrealistic. If you count it with 3 RED trades, the numbers are even worse! See below And the requirement of scaling out properly to keep the green numbers is even more obvious! Even 3 RED vs 2 GREEN (40% accuracy) makes you a profitable trader. If you struggle with it, ask your self: Why can you wait for the stop loss of 1R and not the profit of 2R (at least) you planned in your trade? I hope this helps to understand someone the importance of scaling out properly and not too soon. Now go to see your trading journal and see what you did cheers PeterB
  5. i have the same issues with displaying CGC and some others. regarding your freezing i would suspect your CPU capabilities or antivirus software being the cause
  6. IB has its own platform for trading so you dont have to spend money on DAS or other stuff. IB gives you simulator for free
  7. tws is a java based application so any spikes in memory or high memory consumptions are normal any window manager or window organizer you might be using can mess up with the drawing of windows, that is my experience with it, otherwise it never crashed but i am running it on a mac
  8. first reason is that it is unusable as soon as you have 2 positions opened at once second reason is that it is not submitted instantly and have to click on it basically you do not want a feature which behaves differently each time. if you press a key you want an exact action to be taken. same as if you clik BUY or SELL you do not want the platform to ask you any questions because you already know you want to BUY or SELL, right?
  9. that feature above is useless for daytrading. it is usefull only for long term investing with big portfolios.
  10. Hi Bearbull traders! I had a big loss these days beause i was acting irrationaly and to help me out of it i tried to make a picture of what is happening when you average down so you can see how usless technique it is. Actually it is unbelievable that our brain accepts such stupid idea to solve the big problem of being in a bad trade. I put it into a picture, hopefully it is clear to read. For the purpose let's pretend we trade a low float stock which price is around $10. to me now it is obvious that better exiting and entering another trade is always the better option. What do you think? I swear i will never do it again!
  11. peterB

    My view on averaging down

    yes! so far so good. but i still struggle with exiting a non working trade and not accepting the loss
  12. peterB

    Position sizing

    you can use a static table as i do. printed and sticked to my monitor helper_tables.pdf
  13. I personally use LYNX (part of Interactive brokers), however, the branch looks to be located in UK, so it might be a subject to trouble after BREXIT. Anybody has heard anything yet?
  14. peterB

    What brokers are you using in Europe?

    Hi JenniferL, the demo you describe seems to be useless. Also too expensive as everything in Switzerland. I am personally using IB trading platform which comes free with having an account there and the fees are ok, even the inactivity fee is small so there is no problem using IB without DAS Anyway there is a new broker https://www.alliancetrader.com/ promoted by Andrew in his last email which is giving you DAS for free if you are active trader so you can use that one as weell. They do not apply the PDT rule as well which migt be good if you do not intend to start with more than 25k USD Anyway if you use DAS with Bearbulltraders and IB you get the real time data subscription as a discount so also a good thing Just read the latest email from Andrew -Update on new brokers and commission; exclusive to our community
  15. i can confirm the behavior when switching between stocks. It does same to me and also get quite often market data disconnections.
  16. i don’t as i trade on a Mac i was just curious what could be so slow about tws
  17. they will apply the PDT to every margin account. what is the technical reason you think the das shall be quicker as you say?
  18. peterB

    Broker for swing trading

    hi Peter, in CZ you can use LYNXbroker.cz so you get local support in czech, but their comissions are higher than Interactive Brokers you can use the same account for day trading and swing trading, i can see no reason to divide it into 2 accounts
  19. peterB

    Interactive Brokers

    Example 1 - 1000 shares in $30 stock. Scaling 25% out 3 times and then taking 100% out? Tiered: in $3.5 out1 $0.9 out2 $0.7 out3 $0.4 exit $1.5 total $7 Fixed: in $5, out1 $1.25 out2 $1 out3 $1 exit $1 total $9.25 Example 2 - 1000 shares in $30 stock. Stop out, selling 1000 shares. Tiered: in $3.5 out $3.5 total $7 Fixed: in $5 out $5 total $10 the tiered i counted the first one with less than 300 000 shares/monthly. Higher numbers are cheaper
  20. peterB

    Interactive Brokers

    same question same answer - you need to buy DAS separately then use it to trade. https://bearbulltraders.com/request-special-das-package-for-ib-traders/
  21. peterB

    IB for Europeans: some questions

    you need to buy DAS trading platform separately and then use IB account to trade with it. https://bearbulltraders.com/request-special-das-package-for-ib-traders/
  22. Here is my setup with 3 monitors. I use the upper one for chat and browsing/messaging and the bottom 2 for trading. Using the right monitor for watchlists and activity logs, 1min 2min charts. The right side of the left monitor i use for 15min, 5min and daily chart, while the left part ist split to top and bottom both showing miniatur 5min and 1 min charts with watchlist so i can watch 3 stocks at the same time. The machine is a custom built PC using MAC OS therefore i am not using the DAS platform for trading but use the java based Trading Workstation from Interactive Brokers. The monitors are 24" Benq FullHD resolution and i have bought them over the time so each one is different which is not a problem at all. Rgarding the machine it is a core i3 6100 CPU on a Z270 mainboard with 16 GB RAM and plenty of NVMe storage and HDD storage and a Radeon R9 270X GPU. I use it for multitasking work and allthough it could use a stronger CPU with more cores it is a very suitable setup for trading and also some 1080p gaming.
  23. peterB

    Are commissions a deal breaker?

    untill you generate satisfactory profit it is ok.
  24. it was not better trading. it was pure luck picking up crumbles.
  25. peterB

    Are commissions a deal breaker?

    yes 30 trades a day is not trading but gambling or playing. I understand that you want to learn as much as possible in the SIM but that does not mean you need to try this and that 30 times a day because it will grow unhealthy routines in you. So better stick to 3-10 trades max a day and focus on the quality of the setup. You should have been there after 8 weeks of SIM anyway!
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