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Bailey Nevener

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Bailey Nevener last won the day on August 30

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About Bailey Nevener

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    Bailey Nevener
  • Birthday March 8

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  1. Why does the risk control page not look like what they advertise on DAS Inc.'s website? https://dastrader.com/docs/risk-control/
  2. Ross barely follows what is in his own book anymore, but it’s probably for the best because what he does now is near insane. I think a lot of the beginner material is similar simply because the understandable concepts are still overwhelming at first.
  3. Let me see if I have you right. First off, if the broker you are using has an inventory of shares to short on the current stock you are trading, then it will be a very high amount, like hundreds of thousands of shares. This creates a bit of confusion on the first part of your statement, “Let’s say I have 1000 shares of shortable stocks”. The broker holds the shares to short until you open a short position. Second, now that you know you can short a much larger number of shares than 1000, If you sell 2000 shares, when you currently have NO position in a stock, then you will have opened a short position. This short position will be read as “-2000” shares in the position window. That means in order for you to get out of your short position, also known as covering, you will have to buy back those 2000 shares from the market. These shares are then automatically returned to your broker’s short inventory. And whatever the amount the stock price went down during your holding period, will now be in your realized profit and loss. You will now have a position size of 0. There is no split of 1000 shorted and 1000 sold etc... However! If you have a 1000 share long position and then you sell 2000 shares, you will have sold your original 1000 shares, and opened a short position of 1000 shares. This might be what you are asking, Bailey Nevener
  4. That is exactly what I do with the chart configuration. Putting the Bid / Ask lines on the chart has saved me from being burned more times than I can count.
  5. If someone dropped a huge order on the bid it could have taken out levels all the way to 7.565 with that number as the last fill. This is a relatively cheap stock and I’m only seeing a couple 100 shares at each level. The scenario I mentioned therefore would not be outlandish especially since this is a tad later in the day. After their order got filled, the market makers could have just refilled the gap It would have perhaps been more useful to have the T&S pulled up. Or there might be some type of LVL 1 lag on DAS concerning the last price!
  6. Good afternoon Carlos! Perhaps a good thing to touch on for beginner traders is avoiding ‘flipping’ a position just because they were stopped out. A lot of new traders put their stop beyond an area of ‘no return’ in their minds. This often results in them seeing a ‘huge’ high volume push in the opposite direction of their trade once a stock breaks through their stop. However, a lot of these moves, as I’m sure you are aware, shallow out and continue to consolidate or even continue to trend up after stopping the trader out. This is something of a symptom of a scarcity mindset and impatience. Putting this readily applicable advice into a psychology video is sure to help someone. Just because it is a bad long doesn’t mean it is a good short! Bailey Nevener
  7. If I have an exceptionally funky day I will use the replay feature and trade a stock in real time with no speed up. This is because my poor entries are actually born out of impatience. I think this is true for a lot of people, why? Because it is easy as all get out to see a good risk to reward ratio that doesn’t ‘look’ like chasing when you enter for a reversal. In other words, it’s so much quicker and easier to see a ‘reversal’ pattern. I think it is important for a stock to CONVINCE you it will reverse, but it should be your GO TO for a CONFIRMATION that the trend will continue. This will result often result in less violent stop outs as well, where it will let you see the ‘writing on the wall’.
  8. Where do I go to check when the next competition is, how do I sign up?
  9. How you partial out largely depends on your strategy. For example, partially out aggressively makes more sense with a smaller time frame strategy such as an ORB. However if you enter off of a double top or double bottom, it may make more sense to plan on a possible day trend. Here’s an approach I have adopted that you may find useful: Determine how time sensitive the trade is, and look for a break of higher highs and higher lows trend on the lowest time frame that makes sense. If there is an area of major resistance, like 200 SMA / 50 SMA. Take a preemptive partial at that level when it hits. It might make sense for these partials to be a different percentage of your remaining position than the break of trend partials. I would think of the chart as various channels of trend, and take profits either when that channel breaks or when it hits that’s resistance point. This will give you the ability to maximize profit while reducing that downside risk.
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