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paul ang

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Posts posted by paul ang

  1. Posted

    hey wow!! Finally someone living in asia. I'm in singapore. I think BBT doesn't "focus" on anything, just happens that the founder and most of the traders trade this style.

    Ultimately their trading style might not suit you. (I definitely can't trade like andrew)

    And what is good is that there is lots of material here to get started, especially about understanding yourself. 

    See you around!

    On 11/7/2020 at 7:10 PM, Adam Lewis said:

    Hello! 

    My name is Adam. I'm a 37 year old British expat from Liverpool, England, but now living and working in Hanoi, Vietnam where I've been for seven years. I'm a school teacher by trade (heading up the international department of a bilingual school here in Hanoi). I became a father six months ago and have just started my Education Doctorate, so I'm on several journeys right now I guess!

    I began to practice day trading about four months ago. I was initially introduced to stocks and shares during the Covid lockdown in February when a friend recommended I read a book called Millionaire Teacher by Andrew Hallam. This book is about investing directed at expat teachers around the world. It is very good, and it got me into making some ETF investments as I begin to plan for my eventual retirement. I was excited to begin to purchase stocks! But as exciting as it was, I couldn't help but want more out of my trading investments than the passive average 8% a year ETFs offered. Thus, I began to find out more about day trading and having read Andrew Aziz's books (among others, but Andrew's books were the first and remain the best I've read) and after immersing myself in hours of video tutorials on YouTube, I began to paper trade back in July of this year.

    To begin with I traded low float penny stocks, trying to use momentum scalping strategies and copying the styles of some of the very successful YouTube guys who do astonishingly well (I'm sure I don't need to name names!), but I have to say I found it supremely difficult to master. I've honestly had four months of mostly making losses, and some days, making big losses in my paper trading account. I also then tried to go live too soon in September and swiftly blew $1,000 cash in my new CMEG account. Suitably chastened, I very sensibly came back to paper trading, resolved now to continue to paper trade until I am able to consistently make profit.

    Through October I continued to make losses day trading penny stocks despite my best efforts, and began to grow a little despondent. I finally hit a crossroads a few weeks ago where I knew I had to either invest in an education and begin to really work at this, or else pack it in altogether and spend my time tending to my golf swing (which also sucks).

    Well, the first one won! I decided it's time to get serious. As of Monday last week I am now a BBT lifetime member. Let the journey begin!

    Why BBT, and not any of the other trading communities? Well, two reasons. First is the focus here on a different category of stock. I didn't want to momentum trade penny stocks anymore: they're just too volatile for me, they move desperately quickly and I found I wasn't able to make decisions quick enough. I like BBT's focus on slightly more expensive, higher-float stocks. These feel more stable to me, and I think will be a better fit for my trading style. 

    The second reason is the informed and intelligent approach I see BBT's leading traders take. This feels like a more sober approach to trading, which is what I'm looking for.

    I have a great deal to learn. I became so frustrated the last four months not because I was making consistent losses, but because I never felt like I knew what my strategy was. I often found myself entering trades without really knowing why I was entering them. It's weird to be aware this is happening and yet to continue to do it! 

    There is hope! Yesterday (Friday 6 November) I actually made what I'd consider to be the best trade I've ever made (clearing a low bar, admittedly, but bear with me!). Having read here about opening range breakouts, and then watching Andrew's videos and reading the playbook materials, I watched $NIO at the open last night. The fourth one-minute candle broke out of the opening range at 9.34am. I went long and made a nice win. This wasn't my best ever trade because I won or because I made some money (I've made more on other trades in the past), but because I felt like I had a plan. I knew what I was looking for. When I saw it I stepped in and placed my trade, scaled in, partialled out. It wasn't perfect: I came out too early, missing out on a continuation, but just having a reason for placing the trade in the first place was huge for me (I was thrilled when I woke up this morning to see Thor's own review where he placed the exact same trade! I feel like I finally did something right) 

    The ORB is going to be a critical strategy for me to master. Here in Vietnam we are exactly 12 hours ahead of US ET, so when the market opens at 9.30am and you guys are all sipping coffee and rubbing sleep from your eyes, it's 9.30pm here and I've just finished washing the dishes after dinner! Working my job as I do I really can't trade much past 10pm local time (10am ET) so there is a golden window of 30 minutes when I need to do my trading. It could be argued then that if any one strategy should be my bread and butter, it should be the ORB. I was thoroughly proud of myself last night for that trade!

    So, the plan from here is to paper trade until at least the new year, if not longer. I'm in no rush. I have a great job and I'm very well paid already. I don't need the money. I'd like this to become a very profitable little sideline which can continue to fund my longer term investments, and maybe also pay for the odd round of golf in between. I love being a teacher (you don't start a doctorate in something without loving what you do) and I can't imagine ever fully being out of teaching, but perhaps being able to retire early would be nice one day! Either way, I'm in no rush, and I'll take as long as it takes to learn how to do this, and to do it well.

    Apologies for going on at such length! It's smashing to meet you all, and here's to whatever's about to come.

    All the best,

    Adam

     

  5. Posted

    I'm a happy customer with IB, they deal with a lot of huge institutional traders. Their support is very reasonable, although sometimes they have the high and mighty feel around it.... (like you mean you didn't know that kind of response hahaha).

    I don't see why they should restrict your account. I remember there is a video/chat somewhere talking about using another brokerage for smaller accounts first, then later can move on to IB when your account size is bigger.

  6. Posted · Edited by paul ang

    Hmm i'm assuming your IB account is a margin account (not a cash account).

    I also have multiple open "virtual forex" positions. Where I have cash in AUD , SGD, HKD, USD, where some of these are for my long long positions.

    When I day trade, all the commissions and fees are charged on the USD. (my base currency is SGD by the way) Doesnt seem to have a problem. I also haven't seen any currency conversion problems..

    But maybe that is because all my accounts are in the positive.

    Is it because you are on a cash account? And they had to charge a commission in USD so they converted the CAD for you? And they charge about ?6USD per conversion. 

    Have you tried to convert your CAD cash to USD? 

    Anyway, i'm a happy customer of IB, its a really complex piece of thing, but once you get the hang of it, it just works. 

  13. Posted

    Hi I'm Paul, I'm from Singapore.
     

    I've been doing quite a bit of day trading and has been profitable for the past 10 days with no training. Also there was once my live feed somehow got disconnected, and I almost freaked out. 

    And that scares the sh*t out of me. It's time for me to actually buy/subscribe to all the professional software and take this seriously.

    My main investment style is actually growth investing which is doing very well. I do some momentum trading to earn a few dollars to donate them away for any needy cause.

     

    So please go easy on me. This place is quite overwhelming.

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