Robert H

Viet, which version of DAS are you on? This feature was only added in 5.2.0.15. To check your version, go to Help > About To update, go to Tools > Auto Upgrade

FB Over-Trading - March 26, 2018 FB was in play and presented very nice, clean price action for the entire session. I missed the huge ORB that most people caught at the open, but ended up trading the stock 6 times. 5 turned out to be winners. 1st Trade - Reverse ABCD After the huge sell-off in the first hour, I waited for a pullback to get in on the short frenzy. I waited for consolidation, followed by a bearish engulfing candle to confirm that sellers were back in control. The entry was 151.90, with a stop at the 9EMA above ($153). The target was the LOD for a risk:reward of 1.4. I took profit 4 times at the LOD and beyond, with the final exit at break-even. 2nd Trade - ABCD Long After FB squeezed the shorts on a bottom reversal (which I missed), I waited for it to get back to VWAP. I never go long below VWAP unless it is a reversal play. After testing VWAP a couple of times, I entered on a new 5-minute high at 154.59. My target was the 50MA with a stop below VWAP. The risk to reward was 2.2. Again, I sold in 4 steps at my target and kept the last bit for break-even which took nearly 2 hours to hit. 3rd Trade - Top Reversal I'm not very proud of this trade because I missed the new 5-min low on the previous candle. I waited for a pullback to finally short at 156.66. It wasn't the greatest entry and I was forced to use a moving average on the 1-min chart as a stop. I would normally classify this as a chase since a big chunk of the move had already passed. My target was the 9MA and 20MA, for a risk:reward somewhere around 2. The bearish drop continued and I covered in 5-6 steps at my targets. 4th Trade - ABCD Long After closing out my position on the previous short, I saw what looked like an ABCD pattern forming. I jumped the gun and went long before a new 5-min high was being confirmed. Big mistake. The stock tanked on a huge red candle afterward and I missed my stop. FB plunged through the 9 and 20 MA's like a hot knife through butter. I ended up holding for 30 minutes before taking the $1/share loss. 5th Trade - ABCD Long Like the trade before, I saw a potential ABCD forming in the final half-hour. This time I waited for a new 5-min high and volume. Buyers came in like crazy and I managed to go long at 156.08. My target was the 200MA, with a stop below the consolidation area around 155.5. The risk:reward was 2.8. Seeing how volatile the price action was, I took profit before my target but kept some for the moving average. 6th Trade - Scalp to Previous Day Close After watching the momentum train leave without me, I saw a chance to go long an ABCD pattern on the 1-minute chart. I waited for a pullback and went long at 158.80. My target was the PCL at 159.4, for a risk:reward of 1.6. In all honesty, I was only hoping for a 0.50 move, but the price punched through the PCL like Jean-Claude Van Damme in his Bloodsport days (Dim Mak!). I took profit above the PCL and $160. Facebook has been really clean as of late. Despite the negative press and huge sell-off, clear patterns are presenting themselves throughout the day. There are plenty of long and short opportunities for the patient trader. Volume is stellar and spread is tiny. I wish all stocks behaved this way!

It really depends on your trading style. With no scaling in/out on 1k shares, IB works out to be $10 on the fixed plan. With SpeedTrader, it's $5.90. Even if you self in two halves, it's only $2.95 * 3 = $8.85. Personally, I scale out, so IB might work out to be cheaper for me. Also, if you're trading low floats where the position size can be up to 10k shares, then SpeedTrader is a no-brainer. I believe SpeedTrader rebates your platform fee if commissions meet a monthly minimum. WIth DAS+IB, there is no such refund.

Hi Joseph, IB has two commission structures. Fixed: 0.005/share, minimum $1 per order Tiered: 0.0035/share, minimum 0.35 per order Fixed includes all regulatory fees. Tiered does not. Here is IB's commission schedule for more information.

CME is an offshore broker. If you have the $30k required minimum, then SpeedTrader is a better alternative. Take a look at this post where Andrew discusses the different brokers and commissions.

The commissions are very low at $2.95/trade. Andrew mentioned in the chat today he would go with them if they accepted Canadian clients.

Awesome trades, Brendon! Thanks for sharing. I took the VWAP reversal move in between your 1st and 2nd trade. We combined for a hat trick on OMER.

Wesley, it really depends on where you are located and how much you have to open an account. If you're in the U.S. and have more than $30k, then SpeedTrader is a good option. I believe they have simulator if you pay for the SpeedTrader Pro platform. This is just a rebrand of DAS Trader Pro. If you are in the U.S. with less than $30k, then CME is probably your best option. They have simulator with their DAS rebrand: Traders Elite Pro. If you're in Canada, IB+DAS is the best bet. Hope that helps.

Avinash, that is my understanding since DAS--and its licensed re-brands--are the order execution platforms. SpeedTrader Pro should have the same benefits of having servers collocated with NASDAQ, etc. I would ask SureTrader support to see if there is any speed/fill difference between their product and regular DAS. I don't believe there is a DAS+SpeedTrader option, only DAS+IB. Andrew recommends SpeedTrader which he posted here. Gianluca, I believe regulatory fees are excluded (SEC, FINRA, ECN, etc.). Please contact SpeedTrader support to confirm.

Avinash, SpeedTrader Pro is actually DAS used under license.

OMER VWAP Reversal - March 22, 2018 OMER gapped up a whopping 60% this morning. I missed the 5-min ORB to the downside as I was in another trade. At 9:45 AM, the stock failed to make a new low and had put in a double bottom. I went long at 16.20, with a stop at 15.75. My target was VWAP and the MA's above. The risk/reward was somewhere in the neighbourhood of 1.6. The stock was strong and kissed VWAP. I took profit along the way as it began losing steam. The following candle was a shooting star Doji which was also very concerning. I prepared to exit all at break-even. Luckily, it popped again to VWAP. Somehow I missed the exit at 17.15 and I sold my remaining shares on a new 5-min low. This was my first time taking a VWAP Reversal after seeing Brian and Andrew calling them in the chat recently. I may have jumped the gun on the entry as the bullish candle had not closed yet. Andrew went on to take the same trade when the candle closed at 9:50, with an entry around 16.50.

Try this for a short position: Share=Pos;ROUTE=STOP;StopType=Market;StopPrice=AvgCost+0.10;TIF=DAY+;BUY=SEND

Anthony, this is a stop for 0.10 below average cost: Share=Pos;ROUTE=STOP;StopType=Market;StopPrice=AvgCost-0.10;TIF=DAY+;SELL=SEND This is a limit for 0.10 above average cost: ROUTE=LIMIT;Price=AvgCost+0.10;Share=Pos;TIF=DAY+;SELL=Send; Please test them out in simulator to ensure they are working correctly. Andrew also made this post on how to send an automatic stop loss with your initial order.

Abiel, the one day I forget to lock my montage this happened. At least that's what I am telling myself lol. My journal is quite comprehensive and takes effort to update as well. But when you're in the moment, all of that goes out the window. Maybe your composure will carry over to live better than mine has. I went from Dr. Jekyll to Mr. Hyde. Laurie, your positive attitude is refreshing. I agree that hard work and determination are vital to keep fighting this uphill battle. Quitting is the loser's way out. I like venting in the forums; it's therapeutic for me. To all the readers still in simulator: no we're not crazy. You will find yourself deep in this madness soon enough lol. Update for yesterday: I traded FB 8 times. I have a rule to delete a stock from the chart after 3 attempts. This prevents revenge and over trading. It's just so damn easy to add it back and say to yourself 'just one more trade.' Update for today: I only took 3 trades. 1 loser, 1 winner, 1 break-even. I'm finding it easier and easier to be patient and in control of my emotions. It really comes down to the moment. If you can fight the urge and resist the stupidity, then your inner crackhead will be held at bay.

Since everybody has different levels of experience with the stock market, it is difficult to have a one-size-fits all objective list. I am going to try to cover all the areas that you should have a firm grasp of by the end of the 3-months. It is a rough outline of what I have learned after 4 months of paper/real trading. This post will be a work in progress, but here goes. ~IN PROGRESS~ Day Trading is probably the most deceiving profession on the planet. On the surface the concept seems very simple: buy low and sell high. Then why is it that 90% of traders fail at his endeavour? Surely they aren't trying to do the exact opposite of what is profitable. Even flipping a coin has better odds at 50%. Let's take a look under the hood to see what is required to be a successful trader. CLASSES There are four classes in total. Each one runs about 1 hour, except for class 4 which is almost 2 hours. It is recommended that you attend the classes multiple times to reinforce your knowledge, refresh the concepts, as well as stay updated on any new material. It is your responsibility to go over the slides and understand what is being taught. If you have any questions, please ask them during class, in the forums, or in the chat. The community is always here to lend a hand. You should also bookmark the Bear Bull Traders FAQ and DAS Trader Pro FAQ. Some members choose to read additional day trading books, as well as practice trading replayed market data. What you get out of the course is directly related to how much effort you put in. In a sense, the entire 3-months is more of a self-paced learning program than a structured course. There are no quizzes, no tests, no projects and no scoring. It is up to you to wake up every morning and spend time in the chair mastering the trade. Nobody will hold your hand, watch over your shoulder, or monitor your performance in any way. That is how day trading is in real life: absolute freedom to stake your fortune or self-destruct and implode. STOCK MARKET BASICS -Warren Buffet once said 'The stock market is a device for transferring money from the impatient to the patient.' This is true for long term investing and for day trading. Remember that for each transaction you see in the Time/Sales window, there is a buyer and seller. When a stock is down 20% on the day and you short it, somebody is on the other side of that transaction buying. You don't know their hand though. They could be covering their short from earlier, it could be institutions loading up for long term investment, somebody hedging an options contract, etc. Beginners often gloss over this point. Volume represents transactions being filled; a transaction always involves two parties. You are trading against other people, not the market itself. -Exchanges: NYSE, NASDAQ, AMEX -Market Makers -Pre-market and after-hours -High Frequency Trading (HFT), algorithms -Bid, Ask, Spreads -Short-selling. What does it mean. -Short inventory. Why are some stocks shortable and others not -Short Sale Restriction (SSR) -Short interest, or Short Ratio -Share float -5-cent tick programs -Circuit Breaker Halts -News, earnings, and catalysts -Buyouts -Pattern Day Trade Rule >>> Make sure you understand the above prerequisites before proceeding any further. Investopedia is a great resource. CHARTS -Candle Sticks. How to read them. -Understanding Price Action. Bearish vs bullish candles. Indecision candles. -Higher highs and higher lows / Lower highs and lowers lows -1-minute vs 5-minute chart -Moving averages and how they are calculated in different timeframes -VWAP. Why it's an important intraday indicator >>> The above concepts are not tool-specific and apply to all trading platforms MECHANICAL ASPECTS -Knowing your tools (DAS) -Platform, Hotkeys, Scanners, Journaling -Order entry. Limit, market, marketable limit, stops -Level 2 -Calculating commissions and tickets >>> The goal is to familiarize yourself with DAS and be comfortable using it. For some this could take days. For others this requires weeks. TECHNICAL AND STRATEGIES -Finding Stocks in Play -Good vs. bad pre-market price action -Finding Support/Resistance Levels -Day trading Strategies. Master recognizing the patterns, entries, stops, targets. -ABCD / Reverse ABCD -Bull Flag Momentum / Bear Flag -Fallen Angel -VWAP False Break Out -VWAP Reversal -VWAP Trend Trade -Opening Range Breakup / Opening Range Breakdown -Red-to-Green / Green-to-Red -Moving Average Trend Trade -Top Reversal / Bottom Reversal -Time of Day: Open, Late Morning, Midday to Close >>> Everybody will pick this up at a different pace--learning to recognize different strategies, figuring out which one works best for you (at what time of day), etc. MANAGING YOUR ACCOUNT -Risk Management -Position Sizing -Money Management PRACTICE THE PROCESS OF EXECUTING A GOOD TRADE Putting on a trade is more than buying at point A and selling at point B. You need to combine everything you learned to get in and out of a single trade properly: 1) finding good stocks in play 2) identifying chop and staying away 3) identifying the strategy or setup 4) quickly calculating risk-to-reward 5) getting a good entry and avoid chasing/jumping the gun 6) managing the trade based on live price action and new information which the market is providing you 7) taking profit (often overlooked, yet it involves half of the entire trade) 8) you need to do all of the above while keeping your emotions in check and fighting your psychological demons >>> Over the 3-month period, you will repeat this process hundreds of times. This is where the bulk of your time will be spent. Learning to take good trades and improving on your mistakes. This is the only path to consistency. Don't waste time trading unrealistic sizes on low-float stocks because you won't learn a thing. >>>Some of your trades will turn out to be winners, some will turn out to be losers. Most likely you will have a few trades that blow up your practice account (but don't worry, you weren't taking things seriously and would never do it live, right?). GOING LIVE -Choosing a broker -Starting small and gradual position sizing -Returning to Simulator -Peer-to-peer support PSYCHOLOGY OF TRADING -Why do most traders fail here -I'm highly intelligent, analytical and very disciplined. Why this will ruin your trading. -I'm a good poker player. Good--you will be playing against yourself -Revenge -Overtrading -Fear of missing out (FOMO) -Fear of pulling the trigger -Trading scared -Averaging down -Turning a day trade into a swing trade ~IN PROGRESS~

We had a swing trading subforum, but it was removed due to low activity. Brian Pez in the chat is an avid swinger. Wouldn't hurt to reach out to him.

U.S. based. They accept foreign clients but no Canadians. See full list here: https://speedtrader.com/faq/

Over the weekend I read some excerpts from Trading in the Zone and Mastering the Trade. I was prepared to approach the market with patience and discipline. Market opens this morning. I sit on my hands for the first 10 minutes. Missed good ORBs on FB and NWL, but no big deal. Then I see a setup on MFGP. I check the volume, seems good. Bulls appear to be in control. I go long. Turns out to be a strong run-up and I take profit along the way. I check my P&L and am satisfied that I hit my daily goal by 10 AM EST. Fast forward an hour. I'm typing in the chat, answering e-mails, etc. and I see another setup. I tell myself 'No, you're done for the day.' But as soon as the thought of taking that trade popped in my head, it was too late. I hit my hotkey and off we went. Long story short, I lost all my gains from the first trade. Not so bad right? Back to a blank slate but midday is approaching. I take another trade and another loss. Finally at the close, I take one last trade for a small loss. What a turn of events lol. Veteran traders weren't kidding when they said your biggest enemy will be yourself!

Yes, the Montage has to be active for hotkeys to work. There is an option to double-click the chart to make the Montage active. Right-click chart > Config > Double click to trade (bottom right)

Wormser, Speedtrader is a very attractive option if you have the $30k to fund. Andrew recommends them in this post. Sounds like they gave you quite the sales pitch 🙂 1. I'm pretty sure all brokers trade against their clients in one way or another. They know who is a consistent winner/loser and are privy to all sorts of other information. But remember that one single broker cannot manipulate a stock when there are millions of shares being traded in a 5-minute period. If you don't use hard stops, then the broker has no advantage their either. I would be more concerned about HFT's and algos--whose sole purpose is to capitalize on spreads--than my own broker (who makes money off me either way). Lastly, it is a known fact that brokers always hedge CFD bets against their clients. 2. That's a pretty good deal. $25 in commissions per day is pretty easy to achieve if you scale out. IB doesn't offer any rebate for accounts linked to DAS; I'm with IB 😞 3. I recall some members e-mailing IB to get UVXY shares for short. They ended up getting some in their inventory shortly after (not sure if this was driven by market conditions or client demands). But you are right, day traders don't have the time to call intraday--maybe swing traders. As for the off-shore broker comment, that's a moot point when comparing to IB. Andrew discussed the risks in the above link, and many members have done their own due diligence in the CME Announcement post.

Right-click the Volume area of the chart Chart Area > Add new area after Right-click the new area > Study Config Double-click RSI on the left Use Config and ConfigEx to change colour and axis display options Right-click the RSI area > Chart Area > Config Area to modify label, ruler, and additional settings End result should look like this

Great post! Added to the DAS Trader Pro FAQ.

PCL is a very strong level. I've heard Andrew call it a magnet that prices are attracted to. So yes, it can be used as a potential profit target.

Thanks Carlos and fullmoonguru for reading! Update: I've been switching in/out of simulator based on a reward system. I start the week off in sim. If I trade well and don't break any rules, I am allowed to move to live the following day. Each day that I don't exhibit crackhead behaviour, I am allowed to stay live. Otherwise, I have to go back to sim and 'earn' my way out. Seems to working so far--the Hulk hasn't been released in a couple weeks.

Great additional info! Do you happen to know how to set the Panic Hotkey to be account specific?