Tradingview as execution platform for day trading

[Marco E 0]

Hi there,

I am a German living in Mexico, trading for 3 months now full time with Tradingview (Paper Trading) and my goal is to go live in January. I have read several books (including Andrew's books) and took all the basic courses here at BBT but considering the short time spent I see myself as a complete newbie. 

At the moment there are some topics I cannot find satisfactory answers. So I thought I'll give it a try here in the forum:

1. Broker & Platform: As mentioned above I am using Tradingview Paper Trading and really like the platform and connected it to capital.com (reasons are no PDT and no comissions). My starting capital will be $10,000 and of course I would like to use the same platform when going live as used in the simulator.

- I am still wondering why no one seems to use TV for trade execution - are the any other reasons for not using TV as a day trading execution platform except the missing hotkeys? 
- Does anyone have experience with capital.com when day trading? Are there better Brokers with low/no commission? My current max risk per trade is $25 (0.25% of $10,000) and in average I exit a successfull the trade in 4 steps. So even a low commission of let's say $5 would be an extra "R" per trade (5 trades times $5).
- Capital.com promotes very low spreads, but after checking it, to me they seem pretty high. In one of BBT's course Andrew said he trades only stocks with spreads lower than 5-10 cents. And e.g. capital.com's spread on AAPL or TSLA is 13 cents and on NVDA it is even 28 cents. Are these "no-go" spreads or in comparison to their stock price/ATR still ok?

2. DOM / Level 2: Capital.com unfortunately does no offer DOM data - I guess it is possible but is it also likely to become a successful day trader without DOM / Level 2 data? Or is Level 2 data a must-have for every day trader?

3. Game plan: Do you guys have a daily premarket game plan for each stock in play? Are you long/short biased on each stock before the market opens or are your day trades only based on intraday price action and patterns? Do you have rules like e.g. "Today I will only go long on AAPL because it gapped up xy% and the 5D trend & catalysts are bullish" and then look for good entries/fitting strategies?

Any advice would be greatly appreciated.

Best regards from Mexico City,
Marco

[CostaCY 0]

Hey Marco, Interactive Brokers provide a low commissions and great fills and this is important when day trading. 

DAS Trader is used in the community because of the features it provides for day trading, the monthly cost seems high for a beginner but it is worth it once you become consistent. 

I have not tried Tradingview view for trading, even though I have a premium subscription. I will look at the day trading features of Tradingview and how it integrates with the broker. For IBKR you need to subsribe to market data. 

I though of sharing some ideas here in case it helps. 

 

 

 

[ktsang91 0]

hi Costa,

for DAS Pro + IBKR trading, do we have to pay around usd300 a month?
like 150 DAS + 150 IBKR data...

thanks!