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Everything posted by peterB

  1. you need to find out which works for you. and checkout this
  2. you need to find a trading buddy who suits your style and personality. i am trading one and half year and am still in a big loss generating more and more loses. i feel i understand it all but i struggle with sticking to the rules. you learn every day and some people say that you need to experience a big loss to make the final move. every good trader i know has experienced a huge losss.
  3. i like it because it makes the keyboard combinations easier and windows proof. on a mac the keyboard works just fine but on windows you are gonna have a lot of trouble with function keys
  4. there are always some stocks in play and if not there are some "usuals" like AAPL, NVDA, ROKU, SQ, TWTR, AMD etc. many of these just trade with SPY if there is "nothing" happening
  5. StopPrice=Price-0,01;DefShare=BP*0,97;Share=DefShare*0,25*Price*0,01;Price=Ask-Price+0,01;SShare=Share/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare;TogSShare;ROUTE=LIMIT;Price= Ask+0,05;TIF=DAY+;BUY=Send;DefShare=100;TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0.3 ACT:SELL STOPPRICE:StopPrice QTY:Pos TIF:DAY+; i am getting "Invalid Operator" in my DAS what is wrong?
  6. and you can always have a wired keyboard and mouse ready lying around or even being plugged in at the same time
  7. i never succeeded with the bracket orders so i keep it an open trade with stop loss only and when partialing out i just edit the stop loss. i also change the stop loss price using the graph and T button instead of changing it in the orders page
  8. can i use DAS risk controls while still trading in TWS and not use DAS for trading?
  9. my suggestion is not to look at comissions at all and try to get to the attitude where you think about good trading instead. do not take big possitions so that the comissions are still around the 3.34 and build up your account and risk so that commissions will not matter anymore. If you end up down $100 for few weeks or months, that is the price of the learning.
  10. that looks like good trading, i wish i did the same on that day
  11. hi Kyle we all have been there, so you are at the right place Welcome
  12. max loss - it depends on your style and account size. good practice is not to have bigger max loss than 1-2% (if you are starting do not even think about 2%) of your account and If your max daily loss is $200 and you usually do 3-4 trades then a $50 stop loss per trade makes sense. quick calculations - for me it helped to do trades around $10k then you easily calculate the risk - 0.5% is $50 so if you watch your P/L then when you see -$50 you know you are 0.5% down on your trade and shall exit the trade. also it is easy to calculate that holding a $100 stock means you are risking a $0.5 move and look for more than $1 move to start covering. for $50 stock a $0.25 move risk and look for $0.5 reward etc. you get the idea
  13. imagine you will post all your orders as stop or limit orders way away from the current price. how would you know which one of your orders will be filled first? exactly! you will never know. so the buying power limit needs to be applied to the whole account. the platform/broker does not know what you want to achieve by that order therefore it applies the buying power limits to your account. i do not consider it as a bug, it just has to be this way from the other side perspective.
  14. hi hamza_hs, i am happy to share my settings with you if you want
  15. first of all please post also 5min charts to your trades for better view (consider also 15min) ROKU Trade1: you started to scale out before 1R, this means that you are under stress and do not accept the 1R loss you intended. You need to enter the trade with the risk you are absolutely fine to accept if it goes against you. I took the same trade ROKU Trade2: shorting a strong stock - i do not understand these trades why are you willing to risk it. I can not see any sign of reversal so it was a 50% chance with no edge in your favor ROKU trade3: 106.80 was an obvious level but i can not see a double bottom, you took it long but check the volume column, it looked more like a pullback not a reversa, so better wait for confirmation, it looked like a reversal 4 candles later but it could not break the MAs. So it was a valid reversal trade which just did not work as expected, after being in the trade for 8 minutes you should always reconsider if it is still a valid trade and should have exited on B/E on the drop from the MA to your B/E point. But it is now easy to say AAPL trade1: 400 shares looks like someone went rogue... AAPL trade2: I think all ok, regarding the scale out you can always put a limit order to cover but in chops like this i would not recomend to do it as the first partial and keep it manual because you need to react quickly, if you scaled out already some and you want to reach certain level, then it has more meaning to me to put a profit target order but everybody is different and you need to find out what best suits you
  16. i think you started to scale out too quickly on the first one but ok as a trade. if your risk was 1R then your scaling started before the 1R was reached (you want to start to do that on 2R preferably to maximize profits on working trades) the second trade was a pure bet on reversal which i can not see on the charts the third was a revenge + bet on something which had no clear risk/reward ratio and no strategy - you just got lucky and on the scaling out it is seen that you were quite stressed do you know on what technical criteria you entered 2nd and 3rd trade? i just cant see that
  17. or said in a different way: if your entry was 17.50 and you have not exited at 17.30, then your stop loss was more than 0.20. with 1000 shares you were risking more than 1000x0.20=$200. 1% of $5000=50 so you were risking more than 4% in this trade. to get back to 1% risk with this you would have to take 4 times less shares so only 250 shares i took the same trade, it was not an A+ because the moving average being in the way UP on the 1min (or 2min) chart which also caused some bounce back IMHO you scaled out nicely
  18. does it work for you with a hotkey? for me i always get a screen with a form to submit which is non-sense
  19. i think you are overthinking it while she keeps it simple to the important things. Even the fact that she plays only longs means that she is more disciplined than you are. You need to be honest with yourself and try to see things you do not want to see. Are you having bad entries? Bad R/R ? Not honoring stop loss? Overtrading? FOMO? Too excited and you see a good trade on every 1min candle? You just need to see where you lose the money.
  20. have you noticed that in the majority of your trades which worked you could start to partial at 2R instead of 1R?
  21. 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
  22. 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
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