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KurtLoeblich

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Posts posted by KurtLoeblich

  1. Posted

    5 hours ago, Lane_S said:

    Kurt,

    Thanks for the input.  I don't really want to try to scalp and trade the 1-min chart starting out.  However, I do understand how important it is to watch it  to get better entries and stops.  It seems to just be a psychology issue right now.  I have to get used to seeing price action happen in real time and not let the lower charts affect the patience I need on the higher charts.  I just wondered if anybody else suffers from the same problem

    Does a stock tend to respect the same MA in certain time frames over multiple days or weeks, or is each day a new ballgame?  I'll notice on the pre-market that it is said of some stocks that they "don't trade very well".  Is that in part because they do not seem to respect any levels or averages?

     

    Its very much day by day.  When we say trade very well, its typically from past experience. Some stocks just have a tendency to not make large or predictable moves so we tend to "blacklist" them unless they've shown that they are going to trade nicely. It just comes from personal past experience and it is impossible to know how a stock will trade before you get into it. 

  2. Posted · Edited by KurtLoeblich

    If you're going to trade off of the 1 minute chart, you really do need to be in and out very quickly.  As soon as the price starts to roll over OR if the price isn't moving how you anticipated, you need to be very quick in your decision to stay in or get out.  That's why I personally prefer using the 5/15 minute charts for trades, because I'm just not very good at the whole "scalping" trading style.  

    I personally feel that for momentum stocks that are moving quickly, you can use the 9/20 ema for pullbacks.  However, if it has lower volume/slower price action, I prefer to focus on the 5 minute and 15 minute chart emas.  The 20 moving average slope is what I find to be the most significant of all.  I try to take all trades (excluding reversals) in the direction of the 20ema.  Ultimately, I try to use the moving averages that the chart has shown are the important ones.  If a stock is bouncing off of the 9ema, then that's the EMA I'm going to use for entries.

  3. Posted

    Hey man -- we all face bumps in the road in our trading journey. I lost over 30,000 dollars before I decided to face the music and do things the right way. As long as you realize that day trading takes time, education, and practice, and you're willing to put in the effort, you're all that more likely to be part of the small group of traders who make it. 

    If you need anything, feel free to reach out. I'm always available. 

  5. Posted

    Couple of things:

    1)  Never trade with scared money. If you're trading with money you cant afford to lose, it's going to have a negative impact on your overall trading because of how it will interfere with your emotions and psychology. I know it's likely not what you want to hear, but it's the honest truth. 

    2) Andrew was a successful trader for years before he finally quit his day job. Theres nothing wrong with working while you're in the early stages of trading. With an account your size, its going to take time (and consistency) before you would likely be able to have a sufficient income solely from trading. 

    3) If you decide to continue trading with real money, and you're sticking to the smaller size but still having issues, I highly recommend going back to SIM. You need to identify what your issues are and work them out in paper trading. Its VERY difficult to learn proper trading strategies and techniques when you're trading with real money (especially as a newer trader).

    4)  You may want to connect with other members of the community to help you identify where you are struggling and what tools and tricks you can implement to help you overcome your problems.  BBT has a great community and I'm certain members here will offer assistance if you're willing to hear from them. 

     

    • Like 1

  6. Posted

    Rules looks good!  Try not to risk more than 1 percent of your account per day until you're comfortable with your strategies and psychology/emotions. 

     

    I may recommend trying to also find a strategy that doesnt necessarily rely on reversals. ABCDs on the 5 minute chart are fairly easy to identify and typically offer great reward to risk.  As always, before you start trading a strategy, make sure you learn it in SIM first. 

  8. Posted

    Hey Paul!

    So, when we discuss daily goals and things like that, we do tend to talk in either percentage of account or in terms of R:R ratio (reward to risk ratio).

    Typically, when talking about the percentage, we do not include the buying power that comes from having margin.  So, if your account is a 50K account, a 1% goal would mean 500 dollars, not 2K (assuming 4:1 margin which would put total buying power at 200K).

    That being said, depending on how new you are to day trading, I wouldn't stress daily goals and trying to achieve them. I usually use daily goals as a "stopping point" if I've hit it, but I don't go out of my way to force trades in order to get there. 

     

    Hope that helps!

     

    -Kurt

  13. Posted · Edited by KurtLoeblich

    Right click on your scanners and make sure that under the "Time Frame" or "History" you have "Live Always" and "Real Time" selected.  You will need to do this with all of your scanners individually.  If that doesn't work, I recommend e-mailing Trade Ideas and see if they can walk you through trouble shooting.

  16. Posted

    Daily charts make up the backbone of our trading strategies. Understanding what the daily chart provides you with proper entries and exits.  Knowing where support and resistance levels are can save you from taking a trade at the wrong time and help you maximize profits on another. Definitely take the time to understand them!

  21. Posted

    On 6/30/2019 at 6:54 AM, NinjaTrader007 said:

    Configuring scanners...going over the important variables and implementing them in TI would be something of interest. This may be a more advanced topic though....at the most basic level going over the current scanners Andrew set up for the community in more depth explaining how and why they were configured in a certain way.

    That's on my to-do list for August!  Stay tuned and keep your eye on the calendar!

    • Like 2

  23. Posted

    For me, it's not so much the chatroom and all the services they offer, but moreso, the people within it.  I believe one of the most important parts of a chatroom is to have people participating who are willing to share their experiences and offer mentorship to those who are just starting/struggling.  You can call out stocks to trade all day long, but unless traders understand WHY it's being called out, it doesn't really do anyone any long term favors.  Sure, you can take the same trades as a more experienced trader, and you might make some money -- but making money following another does not make you a successful trader.

    That's one of the reasons I prefer BBT over a few other chatrooms I've been in.  Andrew and Co. are not only willing, but INSIST on teaching strategies, psychology, etc. to the new/struggling traders and they almost force you to become educated.  Oh, and did I mention he doesn't charge me an arm and a leg to learn from him? 😉

    • Like 5
    • Thanks 1

  25. Posted

    Andrew -- why don't you go ahead and shoot me an e-mail so I can get your shipping information. I have no problem sending some stuff to you to check out. Just let me know what size/which designs you like.

     

    [email protected]

     

    I'll be recreating the designs so I'll also need you to send me the artwork for the BearBullTraders logo (vector file preferred but a high res PNG with transparent background will do).

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