Jump to content

Brendon

Lifetime Members
 View Profile  See their activity

  • Content Count

    266

  • Joined

  • Last visited

  • Days Won

    29

Posts posted by Brendon

  1. Posted

    Margin allows you to have a larger position size, say for expensive stocks like +$200 with setups that the stop is only a couple cents away from your entry, you will have to take a large position and you will need the leverage, but your risk (stop) will still be 1% regardless. Your only risk is your stop, not the cash you use to enter the trade.  

  2. Posted

    6 minutes ago, Sapperstien said:

    Lol then whats the point of margin. Who would take on a trade 3x the size of their account? Thats just... I mean were to work with 1% per trade so I dont see the need. 

    That 1% is how far away your stop is from your entry in a trade (stop is where the trade no longer makes technical sense). So if that's 10 cents away from your entry, you better make sure your share size times 10 cents equals 1% of your acct.  Hopefully that helps, I know it can be confusing with these terms at first. 

  4. Posted · Edited by Brendon

    Hmm I think I heard of them, I still would trade on your own with BBT. I wouldn't join a trading firm, period, and they pay next to nothing. Honestly trading is more discipline and a firm can't teach you that. As for the technicals and setups, you can learn that here or on your own. The last thing you want is your career under the gun of trading, while you're learning at least. 

  5. Posted

    Trading is not natural, this is mentioned in many many books. If I were to draw a primal analogy it would be like hunting buffalo, most of the time you fail, but you don't keep chasing the buffalo when you lost the initiative. I would assume a lot of young hunters did and either got killed like in the movie 'Alpha' or let other potential catches get away.

    Point is, plan your attack and even the best planned hunts fail most of the time. But the important thing is you survive to hunt another day and learn from your mistakes. When you make a catch it more than makes up for you failures. Food for weeks.

    Commissions are cheap as Andrew says. Sometimes you need to break a bone aka blow up your acct to learn this lesson. 

    • Like 1

  7. Posted · Edited by Brendon

    Eh most prop firms require you to use your own capital, i think min is like 10k or 5k, i called and got contacted by a few shops in NYC (T3 was one) when I was living there. They provide you with their platform and tools and 'show you some ropes'. mostly a gimmick if they are posting jobs out there or sending random emails to you. stick with learning on your own and use other resources like BBT. Once you go bear bull, you never go back, unless you're a Vancouver trader 😉

  8. Posted

    First week back! annnnd the result is GREEEEN on all 3 day trades....PDT rule. Will do some sim trading for the rest of the week. IB commission structure makes taking partials a breeze without regret or FOF (fear of fees). 

    Just want to shout out to Kyle, AdventureDog(great video), and Aiman for helping me with the auto risk management hot keys. Been trying to get everything to work in live. First trade I had no trade arrows lol, that was interesting, thanks DAS auto update...

    Took 3 live trades this week, some small winners, some large, some green that could have gone red (saved by my stop at b/e after partial), and now I can trade $300 stocks ($BA) with proper risk management. Can't ask for anything else, it just looks like it may be many months under the PDT rule until I grow my account.

    BTW - not sure exactly when Andrew started rockin' the beard but I am a fan, Beard Bull Traders.

  10. Posted

    What's up BB Traders, so I decided to go with IB and pull out of CMEG for a number of obvious reasons. Convenience of an onshore broker just can't be match. That being said I needed a larger account balance as IB provides less margin, especially on the short side. Almost there saving up, another week or two! 

    I will follow along Aiman's path as I will restricted by the PDT rule for quite some time.

    See you all soon.  No mistakes. 

  11. Posted

    Hello fellow BearBull Boss Traders!!!

    In short, I AM BACK!

    In long, I will tell you my journey and rather than have you read multiple paragraphs. I will use bullet points, short and sweet as a trader's time is too valuable.

    *2014-2015 - My co-workers were talking about penny stocks, I tried the all too tempting penny pumps by email alerts and stock twits using web clients i.e. TD and Scottrade. In the end I lost most of my capital (had no real education, no mentor. Left trading for a few years but saw the potential).

    *Feb - June 2017 - Tried again with web clients and eventually found Andrew's book among other technical reads on Amazon (reason I chose his book and community was that Andrew trades mostly non-low floaters aka no penny junk, also most other big chat rooms trade too many pumps). The BearBull community is not ridiculously advertised with false hope. I felt 'it was the real professional deal', and have not been disappointed.

    *Oct 2017 - Jan 2018 - Became a member and joined the chat room after the 1 week trial, started watching Andrew trade in the morning, joined his classes at night. Practiced in sim for a few months on my laptop, did not really have much risk control but was able to learn DAS and identifying setups to actually trade with some logic. Decided to then go live (too impatient).

    *Jan 2018 - Apr 2018 - After initial failure of almost losing my 5k starting capital due to high fees and poor risk control '''looking at you SureTrader auto liquidating my positions''', down to $1200, I was so 'good' at setups I eventually turned that into over $17,000!!!    My average position size was between 50K and 100K worth of stock, risk management was non existent for my account size. Then I rolled 'ONE BAD TRADE' in good old WalMart (went short at the open, ran against me all day). Over the next several months I never recovered and slowly lost it all but a few hundred dollars. I was so focused on saying 'that can't happen to me, I can quickly get that back'. Lesson here is to manage risk and never revenge trade to make it back. It is not sustainable. 

    *May-Nov 2018 - Began to revert to sim for many months and then move living locations from CT to CA. I decided to day trade before work, living in the PST zone. The pressures of trading are greatly reduced when you have cash flow, and can separate your career work and trading at different times of the day. I traded the first hour before leaving for work. I also developed and finally accepted risk control, share size, and hard stops at technical levels where the trade no longer makes sense, STICK TO YOUR PLAN. This was attempted with a small account but later switched to sim. 

    *Dec 2018 - August 2019 - After plan was established and my risk control was priority over gains, my capital was too small to be profitable with fees. Left trading to focus on my career and to raise funds for trading. 

    *August 2019 - Returning to trading for supplemental income and trade for the love of trading. I want to be the best I can be at it. Perfect setups and trades are more satisfying than seeing gains. It is all about how you get there. If you are going to be a trader part time or full time, make the decision to not give up. Problem solve your weaknesses.

     

    The goal continues to trade before work PST time, wake up at 6AM - do PM analysis until open - trade until 7:15AM head to work at 7:45AM. Do recaps at night and repeat!

     

    Just thought I would share my story briefly in case some of you are at similar stages in the journey to being a trader full time or part time. 

     

    There is no better feeling than executing a perfect trade that you planned out and stuck to that plan. When that works out it's like getting a mental high. 

     

    Feel free to message me with anything, see you all in the chat!

     

     

     

     

     

     

    • Like 4
    • Thanks 1

  15. Posted

    Hey Kevin, yup that looks good for hard stops on the long side, you can add, ACCOUNT=(enter your sim account), into the script to test these keys before live just because there are so many you may of fat figured one. 

    What I want to add next is a [Short SSR] folder for scripts that short on the ASK and not the BID side, it would look exactly the same as my SHORT folder just with different scripts.

    Let me know how it is going, I'm still working on a more polished tutorial but it seems you have the gist, great! Yeah the Deck is really a life saver, it makes the process mechanical and removes 90% of the emotion out of trading so we are trading the technicals and not our 'hopes it will turn around'. Not all of us have the boss's discipline nailed down. 

     

    "Changing your stops on the fly is the most dangerous decision a new trader can make."

     

  17. Posted

    Hey nostalgiaguru, I am not sure if closing out SSR positions has improved, word on the street is that it is still an issue. So I just dont trade SSR with CMEG too often. I haven't had an issue in many months with closing out positions since. I guess I found my own solution 🙂

    Hi, Jramosent, I use Chase as well for wire transfers to CMEG, just did a transfer last week with no issues, if you want to post a s/s of your recipient information here I can see if it matches mine. I set it up online not at a branch. 

     

  20. Posted

    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. 

  21. Posted

    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.

  22. Posted

    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.

    • Like 1

  23. Posted

    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.

  24. Posted

    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.

    • Like 2
    • Thanks 1

  25. Posted

    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. 

    • Like 1
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.

  I accept