Jump to content

Bailey Nevener

Lifetime Members
  • Content Count

  • Joined

  • Last visited

  • Days Won


Bailey Nevener last won the day on September 27

Bailey Nevener had the most liked content!

Community Reputation

61 Excellent


About Bailey Nevener

  • Rank
    Bailey Nevener
  • Birthday March 8

Recent Profile Visitors

1,321 profile views
  1. Should be closing on the house tomorrow. Going to be a month or two until I move though .
  2. All of my accounts were mainly grown with swing trading. Significant advances were made through a few day trades with large R:R as well. I was on-and-off trading for about 3 years (but consistently listening / watching lectures about it) due to being in the Navy and going on deployments the whole duration. After I got out of the Navy, I had a solid 6 months to myself, and during that period I became consistently profitable. The first of the accounts I grew was on the tail end of my time in the Navy, and the remaining two have been considerably easier to make now that I am no longer in that environment. It is also worth noting that I don't use DAS when my account is under 25k.
  3. Essentially I was investing in companies I knew that would do well initially. Anytime that an extremely obvious day trading opportunity happened, I would liquidate my investment position, increase my account balance, and then reinsert my funds into the investment. The purpose of the investment is to keep yourself relatively mentally involved with trading by feeling like you are 'doing something'. This is key because you need to really only be taking high probability ever-so-often trades with a catalyst. There were often weeks at a time where I would not take a trade, but each time I did, I substantially increased my account balance. This was one of my best risk-to-reward trades I've ever had. I was -$50 premarket at the largest drawdown. I had many days similar to this. I would only trade if a catalyst pulled me to the market, rather than trying to trade and looking for a catalyst. This is just how I did it. It helped me make big trades, avoid PDT, and finally get over $25k with stability. I was definitely not perfect with this approach, but you have to find out what works for you.
  4. It is extremely important to do the math (as you are doing) and actively acknowledge the logical barriers to your success. In short, you will either need to risk more per trade, lower your commissions substantially, or get a larger account so you can risk a lesser percentage per trade and overcome commissions. Those that say that commissions should not be considered often are parroting successful traders with huge accounts. Those successful traders that say commissions are not a factor often did not start with a small account (sub $5,000) to build up their current account. The logical way I see it, is to move your account to a commission from broker like TD Ameritrade and swing trade or invest to $25,000. Or at the very least to $5,000 for CMEG. It’s not as hard as you may think. The investing route is easier in my opinion. (with regular, small deposits) With a few high probability ace-in-the-hole swing trades that come along every couple weeks you will build up a comparably sizeable account. Just do your research on the company(s) you invest in. I’ve made two small accounts go the distance to $25,000 so far. This will probably be my last time doing so. The two separate times I made it there was with a $5,000 account and a $3,000 account. (Although once I got the $5k account up to $25,000 I blew it up horrifically with a YOLO options trade) Both of the accounts took a couple months to get there fortunately, but I was psychologically willing in both cases to wait 2+ years. Once I paid off my high interest debt with the $3,000 account, (turned into $37k) I started my current one with $8,000 and am about to get this third one over $25k in the next couple months. The reason I paid off the debt was specifically because it was high interest, and I had big life expenses at the same time that needed attention. Had I been able to keep it, I would be well over $60k by now with the same account only 4 or 5 months later. Oh well lol, won't ever have that problem again. The current one I'm on is at $18,000 after about 8 months,(starting from $8,000) but I was much less aggressive with this account because I am tired from the psychological "freak out" I had to pay off my old debt. Maybe I would have already made it to $25,000 if I had been really aggressive, but for me at this point it’s just not worth the stress. No debt? No rush. The hard route that a lot of people recommend is to become amazing at trading with a small account, harness your iron will, (while you have no money) and use 3 day trades on a rolling schedule in a pure cash account using options or something similar with a margin stock trading account. In my opinion this is substantially harder and frankly, slower, since blowing up or getting locked out 90 days before hitting $25k is almost inevitable. Aiman did this apparently, and I also did this for the first half of my $3k account. But I feel that this was an unnecessary complication for me and an exercise of Aiman’s brilliance. Anyone who says that you should chop it out and pay tuition to the market in the form of learning is masochistic, psychopathic, or unprofitable, but most importantly, they are not thinking about what they are saying, so they are first and foremost, unreasonable. Life is hard enough without knee jerk advice that can affect the outcome of your future.
  5. Hi Paul, I might have to split your question up: If premarket high is a higher price than the high after the market open, which one is the "high of day"? The high of day is the highest price after the market open. If premarket high is a higher price, it is still just "premarket high", NOT high of day. Should I plot premarket high/low? Yes, and better yet you can have DAS automatically plot those levels for you. Right click a Chart > Study Config > select a PriceMarker indicator > Configure to display PreMktHigh and PreMktLow. You can do the same thing for High of Day and Low of Day as well, but make sure your make the line style different from daily levels otherwise you might accidentally think that the high of day bounced off of a daily level when there isn't actually a resistance there etc...
  6. This is stating that if you select a particular route rather than allowing TD Ameritrade’s smart routing algorithm to decide the fastest route for execution, that you may end up selecting a slower route than the best route currently available. Therefore they are informing you that the route you have chosen might not be the best out of all of the routes and might take longer to execute than all of the available routes. Going direct to the market maker is the fastest, but that is assuming that you have selected the best market maker at that time you placed your order. Now the question I also have now is, is there a difference between using TD Ameritrade's algorithm and having direct access? I have a feeling that is yes, but I don't know for sure.
  7. In the period where you aren't consistently profitable, I would suggest staying away from the "avoiding criteria" as you called it. Specifically I am suggesting reducing the amount of requirements to enter a trade. It is a bad idea to draw almost any conclusions when you are starting out. It is better to just foster an environment where you feel like you can follow the rules that you have set for yourself, no matter how basic they are. This is an example of a no-assumptions trading plan: Find a 60 minute range break candidate. (Why you are looking at the stock) Enter at the 60 minute range break with your stop below the nearest technical level. (How you are managing risk) Let the trade go to 2:1 and take 90% of the position. (Giving yourself a reason to exit) Hold onto the last 10% to 4:1 or get stopped out at your original stop or breakeven. (Allowing yourself to become more experienced with the price action) This breakdown is meant to be changed, but only after you "just can't take it anymore". Let the data change your strategy, and keep it as simple as possible until that happens. Good luck hombre.
  8. In terms of "hedging" it only really makes sense if you are betting on two supposedly correlated symbols. AKA longing one symbol and shorting a different symbol to reduce exposure to market conditions. That is, to get beta as close as possible to 0 and make money on the basis of an individual stock's move separate from the overall market. One thing that you technically would be hedging against I suppose is the slippage when you are exiting the entire position. However, the commissions and fees associated with opening up another position likely will outweigh that difference unless you are entering positions with a rebate and exiting with a rebate. Maybe it would actually end up helping in that way if I actually did the math, but I'm not sure. Also as a finish it is important to understand that this is incorrect. The loss is unlimited in this net-short scenario and the potential gain is the net-short shares you are holding multiplied by the stock price. It's more straight forward "hedge" like this with options. (You aren't hedging, your net-short scenario essentially is a short equal to 30% of whatever your short position size is, since it was "offset" by the 70% long position) For example, you could open a long CALL with a short shares position. The long CALL gives you a limited loss on the shares.
  9. I use it, but you definitely don't need it. In my opinion it is less important the higher the timeframe that you are trading on.
  10. I got you Gator. Fortunately I do what you are asking all the time. Here's my hotbutton layout for reference, but what you are asking only needs pieces of it. There are 3 Steps to do what you require: 1) I enter the trade with a double click at my desired stop price, and then I click either of these hotbuttons. 2) If I want to take a partial at a specific price I first specify what % I want to take off of my current position with these. 3) I then double click where I want to take said partial on the chart and click either of these. Here's the hotbutton scripts associated with each step: 1) [L] Ask: StopPrice=Price-0.01;DefShare=BP*0.97;Price=Ask-Price+0.01;SShare=50/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; [SS] Bid: StopPrice=Price+0.01;DefShare=BP*0.97;Price=Price-Bid+0.01;SShare=50/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare;TogSShare;ROUTE=LIMIT;Price= Bid-0.05;TIF=DAY+;SELL=Send; 2) [Pos] 10%: Share=Pos * 0.10; Etcetera... 3) [P] Set Price (Green): ROUTE=LIMIT; TIF=DAY+; SSHARE=0 ;SELL=Send; [P] Set Price (Red): ROUTE=LIMIT; TIF=DAY+; SSHARE=0 ; BUY=Send; See you in chat fella.
  11. SEP 2, 2021 Don't be alarmed, I deposited 5k to catch this rip on TTCF and once it finishes its predictable move I will withdraw it again. Account is actually at 18k. Looks like we are doing pretty good though! Hopefully we are around this amount when I move into the house so it can be a simple transfer. This is waaaay easier than when I was working all of the time. Honestly it has been a joke in comparison. Working and trading is a nightmare, proportionate to the hours and demoralization IMO. SEP 3, 2021 I withdrew the $5k I deposited to catch the run and another $500 went into my auxiliary checking account. Always good to pay yourself if you can. Helps the mental aspect. I locked the TTCF position in today. I sold 300 shares after I saw it rip through and subsequently reject heavily at $25 (which was also just below a daily level), and then I sold the rest after it broke LOD. I caught a huge move on it ($16 - $25) and held until I saw a sell signal. If I would have seen more volume on the daily chart during the overall price push-up I would have probably held through this pullback, but the run was only averaging just a couple million shares a day. For this kind of squeeze thesis I would like to see an average of 3M+ volume increasing each day for me to hold to ATH. Or if I saw a large range expansion day with 5M+ shares traded I would probably expect a gap very close to ATH the next day where I would decide what to do like today. If it runs down to $21.50 I might initiate another starter position.
  12. I’m under contract, so once I get into the new house I’ll be able to set back up with a live account!
  13. Started around: JAN 1, 2021 Currently: AUG 24, 2021 Only 10k more to go until this baby is over PDT! I began with 8k and have been just taking it super easy. My best results come that way. Through recurring deposits it has about $1k that I have put in on top of the original amount, hence the +$6k profits. It has been mostly swing trades and a few day trades to get to this point. The equity curve looks nasty, but trust me it has all been controlled. If this were from mostly day trading it would be that nice x = y line. In this situation I am obviously having to keep my positions rather large and trade infrequently (Robinhood is not exactly speedy), which results in big equity swings. No stress and infrequent trading = profits. Fortunately I am currently the most underleveraged I've been since I started the account, and I'm in positions with very little possibility of running down with very large upside. ================================================================================= Robinhood doesn't really have the trustworthiness for me to take scalp day trades often. I missed out on my playbook trade yesterday on PFE, which probably would have stacked another $500 - $1000 in this bad boy. Unfortunately, if I push it in that regard on this platform I will inevitably get burned if everything isn't working perfectly, so once I saw that Robinhood was bugging out a little, I let it go without me . This is WAY less stressful than being 40k in the hole at 17% interest though lol, so I can wait for that last 10k. On a side note It looks like my offer for a new house is about to get accepted.
  • 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.