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Brendon

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Brendon last won the day on October 8

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About Brendon

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    Brendon D.

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  1. Hi Bart, I haven't used your journal yet but am very excited to do so. Question, so we should use that same link http://daytradearcade.com/trading-journal2/ to get the latest version every 3 months? Also if it expires with our data in it, is there a way to migrate that data over to the new journal or do we need to start a new one? Thanks!
  2. Brendon

    SF Bay Area meetup?

    Hi All, I am not sure if I can make it over there tonight, I thought it was Friday Between getting up at 5:45 and hustling to the cube all day it may just be too much during the week. Just got back from the East Coast yesterday actually so a little beat up. If I don't make it I hope you all have a great time and post pics.
  3. Brendon

    Price action of Stock match the Market

    Hey Nick, I will drive into what Rob H. said in chat. When the market has serious momentum in one direction or is volatile it tends to push other stocks around, now this is not always the case. But when that does happen the stock is no longer in play and trading independently. You have to use extreme caution if you decide to trade stocks that follow the overall market. They are susceptible to erratic swings due to any type of press releases throughout the day (i.e Trump burps). So keep MSNBC on in the bg. A strat to use, really the only one I can think of is paying close attention to historic and intra-day price levels on the SPY or whichever indices the stock is following...and scalping. You can definitely trade them but don't overstay your welcome. Some of the time a stock will run towards it's own significant level that syncs with the market, say a 50sma daily with the stock, and a 20ema with the SPY, that can happen. Keep those charts up and glances your eyes back and worth. More or less double the work and riskier by nature. -B.
  4. Brendon

    ‘Reading the tape’

    Hi Gordon, I have not read the book yet, but have heard good things about it. My thoughts on reading the tape are this: The tape shows what actual orders have gotten filled vs looking at the L2 which are the limit orders that are there waiting to be filled. So the L2 is a before picture and 'the tape' is the after picture. Let's say you are looking at the L2 and orders are stacking on either side, say 10,000 shares are at the top of the ASK side, you would see the number '100' sitting there. If it decreased to now 50...just by looking at the L2 you do not know if aggressive buyers were buying on the ASK or those placing those 100 sell limits orders jumped to sell on the BID side before the priced broke down. Thus the term Andrew uses in his classes 'Aggressive Buyers' buying on the ASK or 'Aggressive Sellers' selling on the BID side (not sure if he uses the later term). Now you can have sellers on the ASK that believe the higher price will come to them and are in the middle of the L2 and not aggressive buyers who believe the price will come to them on the BID side bringing the price down. I keep my tape color coded to show Buy and Sell orders filled AT, ABOVE, and BELOW to show if those are aggressive buyers or sellers. In short it helps show who is in control. Also shows that were is order flow with the ticks of every order. You do not want to trade a stock with no order flow, so look for a tick of an order filled every second or so (shows good order flow and liquidity). Hope this helps! -B.
  5. Brendon

    SF Bay Area Meetup

    Hi All, Looking forward to this meet up! I am a couple hours away in Sacramento, do you think we can push this out by an hour, say starting at 7:00 PM. I am still on the 9-5 grind out here and can't really squeak off work too early. If not no big deal I will try my best to make it. Thanks, Brendon D.
  6. True, 500ms is a little high for bounces, im in Sacramento and usually don't spike over 100ms too often (Xfinity). But then again I am not constantly checking my ping... DAS does freeze for a second or two from time to time, freaks Andrew out lol, and that could be what you're experiencing as well, we all get that (just DAS hangs) or that could be something different. Sorry not much help here. I don't know if bootcamp helps any either.
  7. Brendon

    Show us your set-up!

    Hey guys, I will try to make a tutorial video on my hotkeys for the streamdeck asap. I have updated the software and had no hiccups. I plan of making a combined video showing how I manage risk, share size, hard stops, all with hotkeys on 'deck'. The only time my strategy starts are become difficult is when the stock is moving too quickly to place appropriate stops (takes about a 1 or 2 second delay) at the technical levels so I am selective in what I trade.
  8. Brendon

    Help! Losers way bigger than Winners!

    Hey George, I was in your shoes not too long ago...actually worse shoes because I often let the trade run against me until it came back so I could get out. Worked 95% until it doesn't and your loss cripples your account. Anyway you should at least look for 1:1 R/R 2:1 is optimal. I don't so much have a fixed $$ or cent risk per trade but a max loss of 1% of my acct per trade. Say $50 risk out of a 5k acct. That 1% potential loss determines my share size I can take. Carlos is right about working on entries, you can so easily be stopped out on a great setup but your entry is just off, especially in an ABCD pattern, be patient and try to get a solid entry on a pullback so you wont stop out as often. If you miss the pullback, let the trade go. Catch the next one. Pass up other setups that just don't have the reward. Take 2-3 trades but fish for the best setup you can. If it helps post your trades in the chat and some of us can give feedback. Try that and see how you do after a week.
  9. Brendon

    Day trading journal (MadsFromDK)

    Wow Made Dane, you put a ton of effort into all this. You know we need to convince Elagato company to release a larger StreamDeck to allow for more custom hard stop keys...maybe 5 across, 5 down. I use hard stops of 5c but run out of room with 1 device and have to make folders for additional keys. I agree stick with the 1% perhaps 2% account risk per trade and if you want to make more money, you will need to grow your balance not risk more...always remember that. Remember to log the days you break your rules and review them so you do not relapse. The way I am doing that now is living the cube life 'outlook and excel' all day long at work. Never again am I going to blow past my stops. I'll make a post about that sometime for anyone here not respecting proper risk management. Your trading is so dependent on your external life factors, so make sure nothing will interfere with your performance, i.e. sleep, stress, money, bills, kids, wife, hubby, etc...all of that WILL affect your performance to some degree. Very unlike other jobs and things we do during the day. Thanks for the detailed post bruh.
  10. Brendon

    Journal Templates

    Hey Rob, Carlos, Have you guys made any updates to the s/s you use for journaling? I find video re-capping trades is excellent for the thought process but you also need the hard stats from an s/s to find out what actually works in the long-term? Would love to have a BearBull custom template so we can compare our perf. Maybe something like a trader of the month award.
  11. Brendon

    SF Bay Area meetup?

    Hi All, I am wondering why we can't have a meetup on the weekend? I think we all can make plans around that no?...even with family, bring them!! I would love to help set up a gathering on the weekend but during the week I am currently working (aka outlook and excel bs) so unless the meetup was in the evening, say around ~7PM...I don't think I could attend for this one...or be an hour late. If we can confirm a slightly later time in the evening or the weekend I'm down...I'll bring the beer and pretzels
  12. Brendon

    CME Group - Review After 3 Months

    The platform is pretty much identical. The only difference I know of is the 'Risk Control' feature when you right click your account in the acct window. CMEG doesn't seem to have that so you better watch your max loss per day. Since I use them I just keep my max risk per trade so low I usually run out of trade setups before max loss anyway...if I was red on each trade. I emailed them about it a while back. Also I don't think the global trend line update that Lee W. was working made it to the release of DAS that CMEG uses. Perhaps in the next update once it's finalized with DAS.
  13. Brendon

    Changes in Chatroom!

    I absolutely wholeheartedly approve of the 3 or at lest 2 separate tabs in the chat. Although chat volume may decrease after the morning session...during peak trading hours we need separation for questions on tech analysis and just random information. Thanks for bringing this back to how the old chatroom was. All that is left is to fix the video lag of Andrew, I want those lips sync! *side note - we have some of the other mods come on and talk to us...I vote for a webshow not just audio, looking at your Rob for that entrainment. I plan to do this full time and want to be entertained while I'm losing my shirt.
  14. Brendon

    CME Group - ECN Fees

    Hi Andrew, I confirmed today that SureTrader $4.95 flat free does include ECN fees. That screenshot is from CMEG's simulator so that may be why the rate is different...their Trade Fees used are based on the routes off their website and a simulator cannot know the route executed. Thank you for pointing that out if that is the case! I know Brandon C. was trading live today so he may be a better resource to help confirm the ECN cost. I have to revised my conclusions on CMEG and ECN charges. For the purposes of using CMEG as a 'gateway' broker they fill that niche very well and are competitively priced better than the competition and SureTrader. I will revise my above post. Thanks Andrew for checking into this!!!
  15. Brendon

    CME Group - ECN Fees

    I deleted my previous post, in short my calculations were incorrect due to testing the ECN rate in their sim. Thanks Andrew for helping!! --- For all traders that don't go over a $25,000 position size, take ~4 trades a day + scaling out ~3 times (a normal scenario for a new trader). I would like to point out if you are trading let's say 5K shares a day (~average share price you are trading of $20) with an ECN rate of $0.004 per share you would pay $20 in ECN fees. Let's also say you take 4 trades and scale out 3 times. 4x3 = 12 tickets x $2.95 = $35.40 in commission plus ECN of $20. A total of $55.40 of fees for trading that day. Now if you use SureTrader at $4.95 per ticket (including ECN fees) that's 12 tickets x $4.95 = $59.40 A total of $59.40 of fees for trading that day. Overall winner = CMEG, +1 for CMEG also because they do not restrict margin on most stocks like SureTrader does. *if your average share price is ~$15 is may be slightly cheaper for SureTrader, but only by a few dollars... If my above calculations make more sense this time use CMEG! If you are trading lower priced stocks (under $10 primarily, either trade less shares (under 5K) or consider another broker like IB. Fernando may have more insight on that. Thanks Andrew for helping me rethink their free structure and providing us with a good junior broker for new traders to use. Hopefully my above scenario can help new traders decide on their broker!
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