Bailey Nevener

Hello Rob! I see you are one of the most active members on Bear Bull Traders forums. I was wondering if you have had success in making a ‘living’ from trading yet, or what you feel is the distance between yourself and that. I personally have not hit this level by any means. I would also like to add most of my consistent success with day trading has arisen from my own strategies and I have found very little consistency from any moderator’s thought process other than Aiman. Appreciate your thoughts. Bailey Nevener

That is what is referred to as a “Round Trip”. That would take away 1 of your day trades available. While I was using TD Ameritrade they would also consider partials a round trip, so whenever I took 20%, 50%, and then 100%, I unhappily saw that all of my day trades were taken up.

Skye, If your account balance drops below 25k at any point you will be locked out from placing any more trades. I have personal experience of this through the DAS platform. Intra-day, if your balance drops under 25k, you will receive an error message that basically says, "Dear trader, because your account balance falls under the PDT minimum you cannot place anymore trades". You will have to bring your account balance over 25k to even place another trade. Your account will not be closed however. Bailey Nevener ============================== My YouTube Trading Journal https://www.youtube.com/channel/UCkK2SWIsYGuWm1gtlbD2C4w

One thing that I would definitely consider is posting the higher timeframes, specifically the 15 minute and 60 minute chart for each stock. The trends and levels shown on the 60 are invaluable. Both charts show higher highs and higher lows for the immediate 5 minute candles. That is great for considering a possible ABCD entry on the lower timeframes. It looks like you got in for the premarket high break on both UBER and CCL. Both had good volume on the day, so I wouldn’t expect a sideways reaction. That is, it would either reject, or move higher. It moved higher. The question about whether it was luck really comes down to where your stop loss was placed and what your profit target was. If you took extremely heavy partials initially in your trade, then your long term results are going to be significantly more statistic intense because your margins will be thinner in exchange for a higher win rate. However if you let the trade go in your favor 2R or more before getting all out intentionally, then it is likely that this will be sustainable over time. The only way to ensure this is by sticking to your stops and having a reason to exit with full size either for a loss or gain. The community would need the higher timeframes as well as your plan to truly and fairly analyze this trade.

Due to the preference of mid cap stocks for the BBT community and the small cap stock preference of the StockTwits community, I believe that several traders intentionally avoid it to reduce FOMO on stocks outside their trading strategy.

I would certainly focus on trading for “time” in the first 2 months. 9:30EST fo 10:30EST at least. However, once that explore period is complete, I would focus on an ‘R’ multiple goal for the day. A minimum R multiple that I would do if I were you is 3 for the goal. A minimum max loss R multiple you should use is also 3. I personally have a ratio like this, 50 : 5 : 5 That is $50 risk per trade, 5R max loss, 5R goal amount. Even more ideal might be 50 : 5 : 7 It is necessary to not have your goal be close in Rs because your max loss would also have to be close. It is counter intuitive, but you really don’t want one trade to matter too much in regard to your overall day. What I mean is, if you make each trade worth so much in your day if you lose, then you are probably going to swing for the fences more to take the pressure off. If you can ‘afford’ losing one or two trades before getting nervous, it will enable wiser trading decisions. Not to mention even good trading setups may not work several times in a row. My ratio use to be 200 : 2 : 2 I was so inconsistent from day to day it was insane, but it makes sense. I was banking on one of my first two trades being a winner or I was done for the day. That level of accuracy is simply put, out of a traders control. Give up the quick gains, become a consistent trader.

I purposefully discontinued using hot keys, as well as a number of moderators, explicitly because it made me more impulsive with my trading. Hot buttons were a catalyst for my success. I stopped making hot key errors, and I certainly took less stupid trades after I stopped using hotkeys. The trigger finger is no joke, better to see what you are clicking. If you can’t take your eyes off of the price action for 1 second to click a button, you are trading way too low of a time frame for your experience level IMO.

Yes you can, but DAS won’t know that you have made trades through IB directly until the next day.

It depends on the type of trades you are doing. Are your trades scalps, how do you manage those? Are your trades trend trades, how do you manage those? Are your trades reversals, how do you manage those?

Do you mean that you have an open long position, and that you can’t sell that open position? If so, do you keep any stop losses open while you trade?

Why does the risk control page not look like what they advertise on DAS Inc.'s website? https://dastrader.com/docs/risk-control/

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.

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

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.

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!

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

If I have an exceptionally funky day I will use the replay feature and trade a stock in real time with no time acceleration. This is because my poor entries are usually born out of impatience. I think this is true for a lot of people.

Where do I go to check when the next competition is, how do I sign up?

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.