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damien2003gt

New Member With Questions

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Hey Everybody! I've become interested in day trading over the past few months. I've been trying to educate myself as best as possible online. The BBT book kept coming up as recommended online so I ordered that and have read through it. I registered here and have been combing through and trying to go through the beginner vids. I've also been in the chatroom in the mornings to watch the live trading and and follow along. I should mention that I've also setup an IBKR account and paper trading account with data. Here are a few questions I have which I would really appreciate answered.

1) If I have a IBKR account setup already, should I download the DAS simulator through BBT or should I just setup DAS in my existing IBKR account?

 

2) Please tell me DAS is more intuitive than IBKR TWS which seems very clunky and difficult to manage/learn.

 

3) When I sit in on the live trading chatroom in the morning I feel very overwhelmed and can barely follow what's going on. Is this normal, or am I just not as bright as I assumed?

 

4) I think learning several strategy's is likely too much for a beginner. I imagine I should focus on learning one or two strategy's to start with right? If you were to recommend which strategy's what would they be and why?

 

5) I own a small business and have rearranged my schedule so I don't need to engage at work till 11:30 am. This means I can be in front of my trading computer from 7:30am until 11:30am. Can I assume this is sufficient?

 

6) Any suggestions on how to move through the learning resources would be appreciated.

 

Thanks so much in advance!

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1) yes you just need to link the DAS to your IB account https://bearbulltraders.com/request-special-das-package-for-ib-traders/

2) not really but if you set it up it is easier to trade with DAS as it supports so much more automation

3) it will come,  try to watch the room later on the day for a lower tempo

4) any strategy you like from the book which you seem to understand easily, more will come later

5) yes

6) have a plan for each week/month, have realistic expectations, do not try to shoot too far, have a lot of questions, have a trading buddy, journal your trades

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