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Bailey Nevener

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Bailey Nevener last won the day on December 16 2021

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About Bailey Nevener

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    Bailey Nevener
  • Birthday March 8

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  1. It is possible for certain, but if that is your mindset rather than “How can I become a good trader?” you probably won’t last. Smart people that are dedicated make a living from this. If you are asking a forum on whether or not you can do it, you probably aren’t either. You can always change that though.
  2. Yes. By putting your money into an S-Corp and paying yourself as an employee and cashing out only what you need to live. Also if you can successfully have Trader Tax Status you can count your losses as regular losses rather than being capped at 3,000 that rolls over every year. I’m sure there’s more, but I’m not sure of what else off of the top of my head.
  3. @GreekTrade If the chat room isn’t mainly a distraction, you probably don’t have a strategy, or can’t follow it.
  4. One screen for DAS, and maybe one screen for screeners and the chat room. However, info overload definitely will kill progress and create horrible habits. I think you might find, like many others, even having the chat room up is too much. Especially at first.
  5. I made about $3,000 on a 24 hour trade the other day using my excess buying power on long call options. That makes my total gain from using call options about $5,000. In other words, my swing trades. Still would prefer for BROS to break up, but it is cool to make some big bucks. I can't really use it though until BROS is way over $50.
  6. I'm in my new house, just got the internet set up, and now I am waiting for my investing account to crest $100k before I take $26k out for the new day trading account.  Tbh it will probably take another 5 months.

  7. Yes I would and have. However since you are more than likely countertrend trading (due to trading against the gap) be careful with placing your stop too close because there will likely be whipsaw price action before it moves in your direction. Also, build a tradebook on that type of scenario over time because it will behave differently than a 60 minute breakout in the direction of trend. (One of the precautions I have mentioned)
  8. A lot of times this beep noise is from alert notifications. The notification may be hidden behind a top layer window when it appears, so you don't actually see it when it appears. Thus it just seems like a random beeping noise. Why would the window be coming up at all? Most likely you are hitting Max Loss with the risk controls or you have set up a price alert. Follow these windows and click on the final "Preview" button, odds are that is the noise you are hearing. I have my risk control page completely blocked off as you already know, but there is an option to disable hearing the noise if you stop out. Enjoy!
  9. I have looked into this a little bit. The most common assumption as to why someone would use a specific route is because there could be an increase of execution speed on a trade. However, unless you are trading low volume OTC stocks or something like that, I am not sure that a custom selected route would outpace the SMRTL algorithm provided by IBKR. There is definitely a benefit in regards to share volume though! Here Interactive Brokers has made links to all of the major exchange rates for adding and removing liquidity. If you scroll down to the "US Exchanges" heading and click on the ARCA link for example, it will open up a window that looks like this: If you add liquidity (by placing a limit order that isn't automatically executed) you will be compensated monetarily via rebates from the exchange you are executed on. In this case, if you were trading stocks that are normally traded on BBT, you would be compensated $2 per 1000 shares of liquidity you add on both NASDAQ, NYSE, and AMEX stocks. Here's the one for the AMEX route: As you can see, AMEX will pay an extra $0.40 per thousand shares over what ARCA will pay for adding liquidity. Unfortunately this is one of the easiest comparisons of exchanges of the bunch listed, but you get the idea. DAS has a short manual on how to add a particular route to your montage here. It is worth noting that this was only written in regards to the tiered commission structure, I don't know how being on the fixed commission structure affects it. Let me know what route you ended up choosing for the maximum rebate because I may just change my "Sell on Ask" / "Cover on Bid" hotkeys to it! And could you like my post so my reputation points can stop being 69? Lol. Enjoy!
  10. I have day traded on a laptop for several years, but the only thing I can really speak on is the screen space. In my opinion you might want a little bit bigger screen space than that especially when you are not sure what your strategy is yet. You will likely need at least 3 different time frames on screen, time and sales, account windows, and level 2. Unless you are going to be sitting extremely close to your screen, you may have an issue fitting it all comfortably without something a little bigger. That is my 2 cents.
  11. I finally was able to deposit a large sum of money into my Robinhood account, and I was able to do it while $BROS was making a large pullback! We now have 1,400 shares in the position, up from the 400 shares we had when we hit $25,000 before! I made a little over $2k on calls when $BROS collapsed to $43.80, took out money from my bank, and now we are in super heavy next to a daily support. In order to have the same $15,000 gain we had before on this account, $BROS only needs to get to about $58.95. DEC 27, 2021 I will be holding this full position essentially until $BROS hits $100, at which point I will have taken the account past 100k, allowing for an easy withdrawal of $25,000 or more for my next day trading account. That will make the position size well over $150,000, so I just may sell a covered call against the position within 1 standard deviation two months out, and hopefully it will add over $10,000 to the account and significantly reduce the amount of shares I will need to sell. I will still be holding onto the remaining shares as an investment after the withdrawal of course. It looks like with 77% probability of profit 2 months out, the account can make $4,900 against our 1,400 shares. That is why I am assuming it with be somewhere around double that amount for the same probability of profit when $BROS gets to $100.
  12. Great idea, I am almost 100% sure I will get this.
  13. Yes. I don't think he wanted to be cornered into options.
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