Hey everyone, I think I’ve got this thing working. For anyone interested I’ve built a tool/model that lets the user who wants more certainty on where to set your call and put strike prices for an iron condor. the user inputs the stock ticker, current price, number of trading days and probability of risk to take on ( can adjust based on implied volatility in the market like fed decisions or earnings). if you zoom in to the top right (example) of the attached photo you will see the price range to set on an iron condor trade considering how much the given stock moves historically within your set trading days. i built this in open source R studio so this is ready to go and only requires a few packages to be installed (free). let me know if your interested cheers aaron

Is there a way to deal with double fake breaks when trading parabolic reversal? My parabolic reversal trade book is: Wait for consecutive candles, extended from 9EMA Climactic volume Reversal candle Wait for fake breakout Enter at the new 1-min high/low But sometimes there are double fake breaks, is there a way to anticipate that? Thank you.

I'm new to BBT, and have been simulating 5-min ABCD for the past month. Hope someone could help me with these questions, thank you! If a stock has been trending up on the daily chart, but trending down on the intraday chart but you see consecutive green candles, can you still trade ABCD going up? If there are multiple green candles going up but one red candle in the middle, where do you start counting A? Regarding confirmation, if the candle pushes past D, do you wait for the 5-min candle to finish before entry or do you enter right away? What if D is close to 9EMA but extended from VWAP, do you still enter this trade? ~ Nick

I've recently started practicing this strategy and am noticing there aren't that many set-ups, according to John Hiltz's webinar on BHOD. He said he usually finishes trading in the first hour meanwhile, I'm not even finding a set-up in the first hour. Is anyone else finding this to be the case? Maybe I'm looking at the wrong tickers or the current market isn't great for this particular strategy. Maybe I just suck at recognizing a good set-up. Any thoughts?

Hello, I trade mainly extreme reversal on small-caps and mid-caps on the short side. I was wondering if someone in this forum has a similar strategy and would be willing to discuss her/his strategy. It could be about scanners, entry points, brokers for short locate, how to identified the stocks that are not suitable, etc. I have my own approach and strategy but I'm always looking for improvements. Oli

Hi all, I am quite a new member, just finished going through the Intro and Essentials course. I have spent time before joining BBT trading in a demo account on TradeZero with realtime data, found it not to be the best platform, especially the charts . Now I want to practice some stratergies and build my tradebook, not sure weather to just stick with Thinkorswim and use the onDemand and simulator features or I should get a 3 month subscription and get really familiar with DAS?? I was thinking maybe DAS because I have been trading momentum in the past and would need very good hotkeys which Thinkorswim does not provide nor does TradeZero for that matter. Any comments/advice more than welcome. Thanks.

Hi everybody, For those that use TWS TraderWorkStation and are interested in the FreeRoll Strategy but are not using DAS platform, download the attached file and rename the extensión to .XLSM After openning the file with MsExcel, activate the macro that execute the lookgoal code. Completely safe. Here is the code: Sub Goal_Seek() Range("B7").GoalSeek Goal:=Range("B5"), ChangingCell:=Range("B9") End Sub Mod Mentions: @Thor @Alastair @KyleK29 @Abiel @PEPE-BBT free-roll-calc.txt

Hey BBT family! I am looking for someone that wants to collaborate with me in backtesting promising day trading strategies. So far, I have developed a script that fetches historical data (10+ years) for tickers that fulfill certain criteria (eg. gapper criteria), performs simulated trading according to a strategy, and displays a graphical representation of the trades alongside the return from the trades. All is very customizable as I am coding everything “from scratch”, not relying on any all-in-one platform with limited options of customization. Below is an example of a graphical representation that the script returns for each trade (very customizable - in this case it backtests a simple version of the opening range breakout strategy). If you have a promising strategy that you want backtested, and believe you can help me in improving my backtesting script (theoretically, no coding knowledge required), then I would love to get in touch! Also, I would be happy to share results with everyone here if I come across something good. Let me know if you are interested in collaborating! - Haakon

Hi BBT, New to DT (~90+ days) but have been swing trading for several years. I am excited t o go on this journey! I would like to welcome everyone to my DT-ing Journal where I will summarize my trades, thought process, ideas/potential trades, psychological state during trades, and overall grade for the day. I am here to learn so I would greatly appreciate your feedback (harsh or not, I am here to learn so do not be cordial, LOL - I welcome constructive criticism). Thank you in advance for your support and willingness to help. I am excited to be a part of this amazing trading community! DAY – 1 (7.13.2020) Trades: 6 Symbols: 4 Psychology: Planned on not trading, reason #1: did not sleep well and woke up late, reason #2: have several swing trades going. I broke that plan. Goal for the day: Manage swing trades, take profits, average down or add shares on PB's according to plan. Market: Strong finish on Friday 7/10/20. COVID19 cases at all-times high in many states. Q2 earnings season starts today, will banks will be a major indicator for bullish continuance and overall market sentiment? WL: TRADES: DKNG Catalyst: Friday, 7.10.20 Doji on daily chart, at the bottom of a daily chart trading range, voluntarily delisting warrants (SPAC) due to low volume (negative news). I have been looking to take a long position for a swing trade at the bottom of the range, last attempt. Strategy: VWAP break-out Long bias, opened weak - entry at 9:34 after indecision and hammer testing the 9 EMA, holding VWAP and the 100 SMA. Stop was the loss of 9 and 20 EMA at 100 SMA, secondary plan was if it held 100 SMA to re-enter, failed. Overall plan has been to take this long for a swing trade, however the news of delisting warrants reduced my confidence. This was one last attempt at this ticker. Stopped out at 100 SMA, removed from future WL until scanner shows more volume. Overall grade = A. Good recognition of weakness, entry was fair, and SL was not adjusted. TM was well executed. NI – Remove bias in a stock and read the technical. MRNA Catalyst: Buy rating upgrade, continuation on strength from Friday, 7.10.20. Strategy: Break of HOD Long bias, chatroom call-out. Poor execution of entry, FOMO. Did not wait for a proper PB. Too extended. Stayed in this trade on willingness to hold for swing based on the strength and catalyst. I have been watching and analyzing this ticker, recently sold swing position. Good job of not averaging down on PB to VPOC support (although averaging down would have been acceptable, based on my plan and risk level). If VWAP was lost I would have ‘bailed’. First partial was at R-level, $74.56. Second partial was at $76.00, good job of being patient to partial later rather than sooner on overall strength and L2 orders. Third partial was at new HOD, $76.90 (Good recognition of time of day, common time of day MRNA turns over). Overall grade = D. Entry was poor (F), partials were good (A), overall TM was a fail with a R:R = 1R. I see the consistent pattern of chasing and entering too extended. My afterhours analysis of this ticker kept me confident to risk/reward. However, I will not be so calm if I start trading 500+ shares of a ticker priced like this, max risk on this trade was 1.8% of total account value whereas my profit take was ½ that amount – too much! NI – Better entries, stop chasing extended tickers with FOMO. Learn to manage R:R before I blow up account. VXRT Catalyst: Buy rating upgrade, $90MM capital raise for COVID19 R&D Strategy: Break of HOD Long bias, RVOL high, heavy trading volume, similar strength to MRNA. Did a poor job of assessing entry (common theme), rush in to two entries and bailed - FOMO. E3 was after assessing price action and EMA/SMA tests/retests, etc. E3 was good, first partial was at R-lvl, too many shares, still panicking on partials to avoid going red. Plan forward – remove profit window and trade for levels and by technical not P/L. Partial 3 was good, at intraday level, ceiling becomes floor. Final partial was at new HOD but I was not at station, set it and forget it (ticker hit HOD = $13.53, my profit take was = $11.90) Overall grade = B. Too many entry/bail, poor (D). Partials were good (B), overall TM was a C grade due entry/bail however R:R was excellent (13.9R). GREAT add-on at 20 EMA re-test, partials beyond this were (B), held 15% shares to reach $12.00 new HOD. NI – Better entries, assess price action and technical before entering trade. Establish a R:R strategy such as: 20/30/50% on strong stocks. SPCE Catalyst: Strong stock on daily, recently sold off, Strategy: Support Hold (after 1st 15-min sell of on trend day) Long bias, Entry at support level $19.46 after exhaustive volume trend with consolidation, PA tested this support for ~30 (yellow box). P1 at VPOC R-lvl, P2 at floor turns to ceiling intraday level, P3 at some random level (poor take), P4 at new HOD. Held 100 shares and added 200 shares (cum = 300) for swing trade because on daily chart this ticker sold off HARD and has been strong 7+ days. Overall grade = A. Good trade over all, could have waited a little longer to enter the trade at 100 SMA test, P3 was on panic? poor partial, P4 was slightly early but L2 was iffy. NI – Better entries, recognize the strength of the market and "trend day" - take larger position to maximize P/L to make week goal, instead of a daily P/L goal. Final Review: Goal for Day – FAIL, DT-ed instead of only manage swing positions. Day was GREEN (7X Goal). Am I being to hard on myself since I am new or did I just get lucky? I think its the latter, if MRNA wouldn't have worked out I would have ended RED (-6X Goal or 1.8% of account value). Things I do well: Wait to partial at higher Rs, however this is with limited amount of shares, need to work on partialing strategy. Things I do poorly: Bad entries, chasing FOMO, too extended. TM is poor due to unbalanced R:R

Hi Guys, Pretty new here. Really enjoying the learning curve. Although it is overwhelming at times. If any newcomers are interested in starting a WhatsApp group to share ideas and learn together feel free to add me: +97470243682 Interested in sharing strategies and discussing trading with some like minded people. Anyone a little further in their journey feel free to get in touch. I'll set up the group as people get in touch and we can take it from there. Let's limit it to 3-4 I think. Look forward to talking trading.

I will explain the strategy that is beginning to give me consistency in trading after almost 2 years between simulator and real. Basically it is a well-known strategy and well explained by Andrew in his book, I sometimes mix it with other strategies for entry and exit. According to the data that the daily trades throw me, the concepts written here could change. This topic is created with the purpose that we interact and learn from each other. I am open to any type of comments, whether or not they are in accordance with the concepts issued here. Other topics to be taken into account to day trading consistently: 1- Choose stock in play (earnings are the best gaping 2% or more) 2. Wait at least 7 min to determine the correct setup. 3. Keep your losers smaller than your winners. 4. Watch for 2: 1 ratio. 5. Define your daily goal (1-2% of your equity), maximum loss per trade, maximum loss for the day (if you have 3 erroneous trades in a row take a break). 6. It is good to watch at the price action. With time you get to realize how the price should behave in the setup. This is important to get out with the least possible loss. As Andrew always says "Commissions are cheap, you can always exit a trade and enter again if the setup continues". I will put several examples of the setups and I will classify the best ones, the regular ones and not so good ones. These setups start in March 2019 (below you can see the date), they have marked trades but they will not be taken into account for the explanation.

candlesticksmadeeasy (1).pdf Hey guys, my friend, a very happy options trader, sent me this book on candlestick analysis. Some of what is in here is covered in Andrew's videos, and some of it is new -- and he goes into a "how and why it works" explanation when discussing candlestick patterns. A few people in the chat wanted to read it so I am posting it here. Enjoy