Title,Score,URL,Comments Crossing 1 Mil Profit. Never Thought I Would Able To Get Here This Early. But I Just Want To Says Thank You To Everyone In This Forum Who Supported Me.,6101,https://i.redd.it/kfjbdg38buo61.png,"Incredible job! Congrats! I’m sure a lot of the sub would love to see a break down of some sort of your approach towards this lofty goal! Yeah let’s get a strategy breakdown on this beauty. Damn. You’re making it look easy. Wow - congrats! Looks like you started with circa $10k? A lot of his earlier posts from years ago have been deleted but this dude was scalping like 500 orders a day on highly volatile low floats. A lot of haters but he found a strategy and setup that worked for him and is probably the most successful scalper I’ve ever come across. Good job. Also everyone asking what is his strategy he simply looks at the level 2 and scalps non stop. Sitting infront of the computer for 8 hours blasting away orders, cancelling, closing. His percentage profitable was extremely high like ~90% if I remember. This is however the strategy I remember from over a year ago so he might have refined or changed it. Fuck you. Congratulations. ""Trade like Machine gun"" I swear I'll never forget the post you made lmao. Congratulations 🎉 what starting capital amount did you begin with? Best/worst trade youve made? Congrats. Care to share any insight on your strategy? Congratulations! Well done. Some intel on how you got there man? Congrats!! Wow.. within 1 year You became a millionaire. Congratz ! What app is this? [https://www.youtube.com/watch?v=GEY1Oe2Ywhs](https://www.youtube.com/watch?v=GEY1Oe2Ywhs) He is in this video, this may be a similar strategy for what he does. I would like for his comment but he seems to keep his strategy private, having as much cash as he does I imagine he can move a lot of volume in penny stocks and create his own sell and buy channels. Also used to reply to comments a lot more often, a lot of people are rude to him and I can see why he doesn't care to reply to people. Check it out on a tanking stock... dude is a machine. Started with sub 30k I believe it was. [https://www.reddit.com/r/Daytrading/comments/husmnb/for\_those\_who\_keep\_asking\_why\_dont\_you\_just\_buy/](https://www.reddit.com/r/Daytrading/comments/husmnb/for_those_who_keep_asking_why_dont_you_just_buy/) I've been following your progress for a while and this is great. U and Madaz are doing quite well catching knives :-) congrats! question, do you think you will have any issue with withdrawals/ taxes? Congratulations.... fuck you! What platform is this??? Can you share what strategy you used and how much you started off with? Also any advice for someone just starting off? Congrats man. ​ How did you get to this point? Nice work man!! That’s impressive! You’re either a quick learner or one lucky son of a gun! In this case probably both! Congrats, I’m happy for you! How many monitors do you use? Wow congrats!!! What an achievement! What is your strategy and stats? Did you paper trade first? Any tips on how you made the journey? This was my goal starting out. Congratulations bud! Well deserved I remember being at work seeing your post about quitting your job to trade full time. Congrats kyle 👏 Congrats OP! Been lurking your account for a while now and seeing u grow is awesome! :). Just wondering, where did u learn how to scalp and do u think bear bull traders is a good chatroom to buy? Hey Congrats u/Phihix Great work! Would love to hear about what worked for you and what did not. Really curious what platform op was using? that UI is really nice There are record markers we must pass, 1k, 3k, 5k, 25k, 250k 500k 1mill. this far along I have gone through 25k - 250k a few times. If a dumb aaa ape like me can do it, you can hit 1millie np I absolutely love this guy. I've been obsessed with reading his old posts and watching his youtube. Insane, crazy returns with such a level headed, clean strategy. And he does it all by hand, no AI, no team, no algos. I'm glad he doesn't comment anymore, too many people trying to leech off him and criticizing. Fans will continue watching regardless. Enjoy your gains Mr Vu 👊 Why do people get so excited looking at someone scalping like this that shares 95% results, and 5% of the strategy. Get excited about people that have better returns than this, don't take 20+ trades a day, and have a scalable strategy that doesn't require hours of trading each day, and that offer to help people by showing how they trade. There are people out there that do that, but everyone here gets tied up with this stuff. There's no real benefit for you at all. Any chance you wanna tell us what you end up paying in taxes lol Congratulations pecker! Where’s the dips! Jesus Bruh. What is your strategy. Id love an in-depth post on how you trade. Congrats hope you get to 2 mil. What platform is this? Hey congrats! Can I ask what software your using there? Good work. Mind me asking what you started with and what you look for when investing? That's awesome! What did you start with? Nice, what was your daily/monthly goals or was it just to finish in the green every day? Nice work Kyle - always love seeing your progress posts and really enjoy when you and Eric hop on John’s livestreams. Let me know when to drop my wife off Is it true you got kicked off TDA for a exceeding their no-commission threshold for number of trades? From your previous posts I see you are still using TOS. What software or interface is this? If you’re going to photoshop a graph, at least space the bars out evenly. Teach me? How do you generate a quality strategy? Freaking awesome! Congratulation, up to A LOT more millions! 🚀 thats amazing! congrats. Great! Congratulations! Any breakdown on your journey till there? Nice work! You doubled your account in less than two months😱 I will get to your level. I’m sure you had dedicated a lot of time on your strategy and discipline. I will get to your level because I don’t doubt the possibility what so ever. Nor do I want to compare myself to anyone. It is the greatest joy to see some doing what I want to do. Not so much with the amount you make but the consistency you have. And congratulations man. Not that my props do you any good or harm. And thank you for not sharing your strategy. It’s bullcrap that people want an easy way out without true innovation of their own. You are no different than an Elon Musk or a Bill gates. Just in your own realm. I can’t wait for Sunday for futures to open! Happy trading everyone. Heys, you haven't posted in a while. Provide an update dude. The last month and a half has been pretty bad. Curious to see what you up to and how you doing. Kinda enjoy your posts too. Amazing. I would love to watch your video recaps. Pity they are all gone. I hope there's someone out there who saved the youtube videos? Please send me a message. I have been looking to learn trading for months. Thanks What's about 2022? You lost everything again? What is the secret? So this is just a bragging post, since you wont deign to discuss your strategies? Nice. How long have you been trading? I just started 6 months 8 months ago. Congrats! Great shot, I find it interesting the total of losers you had vs winners, long vs short etc. but the old say rings true. It takes money to make money. If I see another fake post on profit . Tired of all the lies and building up of stocks . You tube is filled with this crap . u da man congratulations man! hoping to get started this year! any hot tips for new traders or care to weigh in on some strategy? Yo does anyone know a good group or anything I can join to learn day trading? Wow congrats and a big salute to you. Please share some of the strategy with us apes. 🇺🇸 Gotta say this is not really a very helpful or insightful post without any discussion of your strategy. Just kind of a brag post. Congrats though. How much did you start with and how long this take? Something about this just seems sus. Started at 10k? Genuinely curious If legit, wow - a rare bird, and congrats. You can finally tell your wife's boyfriend to get lost. You can probably dump the wife also. Congratulations! Congratulations... very 👍 [deleted] [deleted] Thats dope man congrats! What's your next target to hit? Would love to hear some insights in your journey to a million Boy I really wish I knew how to trade options and how to make some extra cash trading like this. Congratulations man that’s huge. Congratulations!! Was that day trading stocks, futures, forex, crypto? Keen to understand your most common plays. Nice work! Congrats 🙌 Wow! I need to learn what you started with and do the same! Congrats 🎉🎉🎉 Teach me! Hi, buddy good job. I followed you ever since you started your journey. Congrats and best to you and your family in Vietnam. Congratulations. Great to see such success. Why no response from OP on how they got there?? Any advice on winners and losers?? Would love to know how you trade ! Absolutely incredible job well done and congrats on hitting 6 figures ! How much you started with? Does anyone pay taxes anymore? Not to take away from this feat thou! Congratulations! Congratulations! I just started a few weeks ago and I’m struggling to get out of the value trader mindset. I only need to double my holdings 5 times and I’m right there with you! 😂 [deleted] Great job! 👏 For a description of his trading, read his prior posts. Crazy Congrats 🎉 Badass man. Great going! 💪💪💪 Congratulations!!! congrats bro! Congrats. Such short time in 7 months. Amazing since one doubles since Feb 2021. Must practicing shorts. Fuck ya. Good for you bro. Since you posted this, could you list your top 10 rules/ ways/thoughts how you did this? Goals ! That’s what’s buddy, the best is yet to come! Great job 👏 No idea what this guy is even doing but I want to do it Awesome job! You've made it you absolute Chad Wow. That’s the stuff of dreams. Congratulations. Pod? What scanner do you use to find trades? LIT Congrats! How much did you start with and do you invest in stocks or do you use puts and calls? awesome Congratulations dude. What a milestone Winning like Charlie Sheen!!! This is amazing! In one year? Can I ask what you started with?? Seriously, Congratulations! u/Phihix Congrats! :) Soon you´ll be able to open a proprietary trading group and multiply that! Congrats!! How much did you start out with? How much did you start with? Congrats can you support me now? 😂 enjoy bro! Wow. That’s incredible, congradufuckinlations!!! Nice man, nice. How much did you start with? 👏🏾 Growth looks pretty steady and then jumped in Feb of this year. Did you change your strat/become more aggressive or was that just the market? Nice work... 1000%%%% 🚀🚀 Well done buddy you deserve it ! CONGRATS [deleted] Awesome. Love to see people win. Dont forget your taxes ;-) Congrats man ! I've been following your posts for sometime. you've evolved a lot and from thousands of scalps to few for a day but more profitable than you were. ! ​ Good luck on your next multi-million milestones... Dude you said like a year ago if you ever got to 1 million you would stream for a day! Nice one, the best thing is not the amount but the consistency, no huge pnl swings 300k to Uncle Sam. So you are saying buy low and sell high actually works Congrats and f*** you 🥳 Dope, can’t wait to make my million Amazing. Congratulations! Congrats! I remember you saying you would do a live stream video of you trading and your strategy once you hit a million. You still plan on doing so? What's ur strategy ? And how much was ur initial account balance ? Congratulations! I enjoyed following your trading journey the past year. Here's to your continued success. How Options or Cash? Excellent work. Ad astra What service do people use for all these trades? How do you start trading. I only have cash in a few stocks that I just hold onto That's one superb graph! You are a VERY consistent trader, looks great Nice! May I ask with how much capital did you start? Magenta. Leading the way mate. Saving for later Wow that's amazing! Congratulations Congratulations! Can you please direct us on HOW to do it???? Idc about the strategy I enjoy the journey. Just wanted to say I'm proud of you and I am sure you're proud of yourself! Holy crap congratulations! Congrats...instead of saying I'd love to hear your approach to this and blah blah blah...here take my money and just do it for me haha! Enjoy the fruits of your labour. How do you scan/ find stocks to scalp? fantastic! How. The. Fuck. 😅 that’s awesome! Congrats! Love seeing this type of win. What software do you use to track your numbers like that? What a fuckin beast. Would love to buy you a beer and pick your brain, man Awesome man. Congrats. What, may I ask, is your age? You mother fucker I'm in! But I can't find the ticker for that graph. Well, no reply from OP. That's a shame. What software is this ? Or is it the broker ? I would love to track my activity like this Wait till you see what that’s gonna be after taxes. Nice man! For the rest of us idiots who will probably never see this number in their account, lol, what are some tips that helped you get there? This really means nothing without knowing your starting capital. What do you do for a living outside of trading? Or, what did you do before to get to this point? Congrats on that amazing achievement bro. In my country half of that amount is enough for you to retire young and live the rest of your days comfortably. thats awesome, how? im barely breaking even what is this screenshot from? like what platform/app? ​ my trading-experience would be SO much better if i had an interface like this What platform can you make this many trades on? Just out of curiousity, I tried the machine gun strategy the OP apparently does. Sht actually worked - much easier to predict a .05 cent move than .10/.25/.50 and so on...gonna keep trying to see if I can get some consistency. What asset do you trade? Stocks, options, or futures? Thanks Congrats! What a great feeling that must be! I’m just really getting serious with my own investments and have a heck of a long way to go, but it’s inspiring to see when people hit the mark, so thanks for sharing! So basically he is like an algo hft trader in human form and speed? What did you trade? Tickets? Options? Congrats. A major milestone I hope to cross sooner than later. How much is your starting? You did good man, we should all give this man a round of applause! Congratulations 🎈🍾🎉🎊🥃🥃🥃🥃 Just wanted to comment to say that you're definitely an inspiration! Thanks for sharing your progress with us! Realy cool👏 What ever happened to ToS did the kick off you or charge you? u/Phihix shoutout to your success. Congrats. Any plans from hereon? How much taxes did you pay? since you play in and out same stock ticker, does Wash Sale rule applicable for your trades? I’m curious what program is he using that produced this graph? Grats but taxes are gonna be a big oof Can anybody tell sich platform he is trading on? in awe Go baby boy go Congratulations dude. Smashing it. I have a question, I have around 3500$ in stocks, I’m not getting myself discouraged but how can you fathom the price of 1 million dollars because I feel like I’m YEARS out, just trying my best to get there, any tips with how to cope with losses on a major scale and just how you can bounce back and recover? Thanks and congrats! (Also what application are you using? Covid quadrupled so many stocks after the wallop, I started April 2020 with the minimum 1500, grew it to 32000, but now down to 23000, that discipline you speak of? I lost it and am bagholding a couple stocks. PLL @69, SOL@12, SOS@5.8, wwpd? What would poster do? What platform is that? Also, can I ask what was your starting balance? I too want to build my account to $1MM Do you have any long positions at all? 👀 I hate your guts! <3 I Just got a remindme about this What’s seems almost impossible is that there are no drawdowns Huge congrats man! Congratulations! How much did you start with and how long did it take you? Hey how has your trading been going since your posted this 3 months ago? Hope all is going good with you and the family! Enjoyed watching your progress, give us an update! Is there any good courses one could take for day trading? Something that will give you a basic understanding? If anyone has any pointers or has taken a course or read a certain book and point me in its direct I’d greatly appreciate it Nice Which tracking program is this? The fact that he did this in just over a year blows my mind. I’ve been trading for 4 months now and have lost 7 grand. I know exactly what I’m doing wrong and see the strategies that make me money and see how I’m losing money so I’m going to call that 7 grand my market tuition and keep moving forward. Hopefully a year from now I’ll be able to post some gains like this even if it’s 1/10th of this I’ll be happy. Motivation and hope Omg this is a huge accomplishment, congratulations Why does it only go up I don’t understand lol its funny you got awards,weird to think that people gave money to a millionaire Dude or chick your graph goes up 97 times and down like 3 times, what are you doing? good job u can be pround! It seems that you have experience and I will just go into this, any advice or where to invest first? What program is this? Nice man! What is this software and does it allow you to add forex accounts Could you please share your discipline strategy? Congratulations friend!! I have always wished to be good at market and trading; last year I lost 40k however I have still kept those junks stocks in my account but don’t do any activities since their values have gone around %70 down. Since you did such a superb job, could you let me know what to do, where you learned …? I’ll appreciate it! In this economy? 👀👀👀 Update? That is amazing! Congratulations. Im currently learning as much as I can and hope to achieve this some day. Becoming a trader as a full time job would be a dream for me. Any advice for someone starting from a small account? Fuck these comments bro. You are amazing! Good Job! Has anyone ever used TrustFinance? Nice! How much did you start with and how long did it take you to start getting more positive confident trades hi guys what will you expect from CPI data ? is USD will be stronger? I just short GBPUSD at 1.20845 on Monday😭 Does anyone know what data visualization OP is using here to graph the results? Looks really clean… Congrats 👍🏻 Shall appreciate your help to be where u are. I know this is an old post but does he trade, futures? stocks? forex? https://preview.redd.it/7ejswhxzj56b1.jpeg?width=3024&format=pjpg&auto=webp&s=948ef6116a4b327277642b6f7dd35c13bff30a47 Congratulations this is dope to see How do you pay taxes on this? Serious question. You never pulled cash out , you carried the money over the year. Don’t you owe like 200k plus come February and stuff then I assume after this pic some was pulled out for taxes or? 2y passed, how’s the journey? Congrats bro Wow, that's incredible! Congratulations on crossing the 1 million profit milestone in trading! It's truly inspiring to see your hard work and dedication in trading paying off so well. Keep up the fantastic work, and here's to even greater success in the future! 🚀💰 Came here to say the same. Would love to hear about your setup/strategy. But, also, congrats! He is involved in this video, maybe something similar and since he has a lot of cash he can move a lot of volume and possibly set up his own buy sell walls? Previously mentioned they do penny stock candlesticks. ​ [https://www.youtube.com/watch?v=GEY1Oe2Ywhs](https://www.youtube.com/watch?v=GEY1Oe2Ywhs) \- edit never added the video lol [removed] he shared in the past a video of 36 minutes (with 2x speed or something like that) of trading in a normal day, > 95% explicit or more... 3 or 4 days later the video as removed... [https://i.imgur.com/CGHWetx.jpg](https://i.imgur.com/CGHWetx.jpg) (old print, I don't have the video) ^(\*) Yeah Raymond would like to follow the steps of trades he does! Too. Covid 2020 bull run made it easy. Edit: for the love of god to you sensitive people, my bad on the piss poor wording of choice. I get he worked his ass off scalping ass loads of trades per day to get where he is. He did a fine job no doubt. And realistically speaking, from my poor observation with no prior knowledge of OPs trading skills before hand, he dropped his bags AFTER March 2020, without a doubt, the best time in stock history probably to have dropped your cash in. Anyone and anything would have likely done very well, this no doubt likely enhanced OPs trading to get to where he is now. Quit whining and saying I’m an ass or saying why am I not a millionaire?!? I’m not competing or comparing it’s a simple fact covid 2020 definitely made things a lot easier for everyone if you had cash. & had $250K 6 months later If one can average 2% compounded *every* day, that's enough to bring $7,800 up to $1M in a year (250 trading days). Not remotely easy by any stretch, but not impossible. [deleted] https://www.reddit.com/r/Daytrading/comments/hovv5x/for_me_to_trade_like_a_machine_must_be_in_my/fxo73qo?utm_medium=android_app&utm_source=share&context=3 1900 trades per day 😱😱😱😱 500 orders a day? by hand?? damnnnnn He also said he would love stream his strategy when he hit a million. If I may ask, as a beginner, what does scalping mean? So he’s a hardcore disciplined scalper. Good for him. Your DD on OP was amazing to read, thanks for digging. What a story. OP’s starting to flex on family members and it’s great. Wanna see videos of their reactions He must be buying the bid and selling the ask. No way he could make profit with how slow TDs execution is. Go to hell, I'm very happy for you. Probably $2 mil Asking the important question. 25K. But he burned a couple of accounts before, so you could probably add that as an ""investment"" About tree fiddy He does tons of ultra short-term scalps around longer positions from what I've seen. Basically a scalper. Which is why it's hilarious that people think this guy is only profitable because of the bull run. He's scalping, he'd probably make money during black monday lul I’ve seen quite a few of his posts in the past and a few videos. He does very high volume scalping. Very similar to Madaz Money on YouTube. He won’t share his strategy Judging from his title I'd say Starting With Capital Is Key Covid 2020 bull run, anyone who put down a couple bags in march2020-Jan 2021 made off solid. Not saying that’s the only reason, skill takes place too but it certainly makes it stupid easy with a huge bull run after everything tanked. That was my goal last year. I’ll make it happen this year. :) how do you set that remindbot? Tradersync From what I've seen people are partly rude due to his hesitancy to talk about his strategy. it seems to come from a fear that his strategy will no longer work, or at least become less effective, if some know about it. Unfortunately I'm too new to the game to know whether or not revealing even partially one's strategy would be enough to reduce its profitability Madaz? Tradersync I think he’s hooked into the Matrix directly. xD yeah i agree this strategy he does is basically pure price action and Level 2 reading skill. Its insane. I actually think this strategy is one of the most legit types... no astrological ""double dildo harmonic convergence indicator"" reading and shit like that. Just price action reading. At least that's how i understood. I kinda want to learn this strategy and have been watching some of his vids but he makes it look easy when it's really hard. 1. Some of us *like* trading for hours every day. 2. Very few ppl with an actual edge are going to just give it away. 3. With a little bit of research you can figure out what he's doing. I have and I'm in the process of implementing it with extremely small position sizes. 4. Stop gatekeeping Then who are some guys that have better %returns, take a low amount of trades and who don't have to trade all day with the strategy also being scalable? Writes > investing in > /r/DayTrading subreddit. Why do you think it’s photoshopped? Sold soul to Satan Borrow 2 million Yeah, he does this all the time. Very humble person. The dates are on the chart Why do you think it’s fake? He used to share his strategy before but then everyone started copying so he took all his YouTube video off the net and stopped positing. Dm and ill send you his YouTube username he's got few videos online scalping high volatile stocks Can you please post your update and your journey in Thailand and Vietnam like you said in your videos- please **beautiful, this is.** *-baimeigui102460* *** ^(Commands: 'opt out', 'delete') I’m not the OP, but thought I’d give my technique which may or may not work for others... I have about 15k in stocks that are expected to do well and are found in many long term portfolios, but when given the opportunity, I also day trade them... I know the usual up-down range and buy extra shares when they are on the low end of the wave to resell hours or a few days later when they reach the high end or close to what I expect as the high end (of course I’ve kicked myself a few times)... I’ve made as much as a 20% profit in one day, amount of course depends on what you put in. If you’ve got a few $$ to play with, my two main ones are FLGT $90-$103 buy/$107-$120 sell & LMND $95-$100 buy/$110 sell .. they have high volatility but still maintain a high long term value so even if you make a buy when they’re at the top end, you won’t lose as long as you don’t lose your head. I should also say that I trade only with my own savings, I won’t play with margins or anything like that, and I won’t touch options... too risky. If you use your own cash, you have no way to make a mistake that you can’t jump back out of. Hope this helps give ideas Lol people always assume profitable traders have some secret formula. Fact is there is many many basic strategies that can make u money. The problem isn't strategies, the problem is emotions. Agreed Ditto Do penny stock candlesticks? What’s that mean? Trading according to the price action? Or do it like a MM controlling the candlestick direction? I get that scalping penny stocks is what worked for him the most part. Holy shit why is everyone hating on you for simply stating facts lol Man u re salty... commenting on every praise OP get... those returns looks like 10K to 1M, which is around 100x bagger... JFC some people will never be happy... just say “congrats!” and be happy for others. Holy fuck dude. So how well did you do? Idk that I would say *easy*, but it definitely jumped out at me that the account starts at more or less the bottom of the crash Except OP is scalping and taking [thousands of trades per day.](https://www.reddit.com/r/Daytrading/comments/hovv5x/for_me_to_trade_like_a_machine_must_be_in_my/fxo73qo/?context=3) The bull run has little to do with it. He’s made money on downward trending stocks. He’s just a scalper. Trades like a machine. You make good points, but I posted in March 2020 about the market ending the year higher than it started and got lit up for being a buffoon. In hindsight it's easy to see that was the right call, but at the time it was not prevailing thought & was nudging $500k 3 months after that - seems like a decent business model 😬🥸 Looking at his history, he’s a machine - may/ May not be genuine? Compound interest/ profit does add up though! What does compounded mean in the context of day trading? [deleted] You may well be right He did reduce the number of orders though. He definitely refined his process, as we all should do all the time. Tda will shut you down if you trade that much more than a week or so. Are those red sections where he shorted, or just sold his shares? I think the most impressive thing is that he could sit in front of a screen scalping little profits for this long. But if he is following rules with technical analysis and he has a profitable strategy, then yee-haw. I could not have a job and also make 1900 trades a day so I assume he did it full time. Its also a very non-efficient tax strategy, assuming he had $1M of gains he will have to pay probably $450K in taxes depending on where he lives. If I remember correctly it might have been in the thousands LOL. Yup all manually. He got kicked off TDA because they have a 390 order a day limit for commission free trading. Commission free really helps when you’re scalping as commissions can really eat into profits on scalps however you can use a direct access broker and get rebates from exchanges as well which I believe he switched too at some point. However if I was to go out on a limb I would bet that most of the profits have been from recent meme stocks blowing up 10x and such. The more volatile the market the more profit opportunity and this man is taking advantage of it beautifully. kys, ily Kind of the only question I would hope he could make money on a black Monday scenario since that's basically the easiest and fastest way to make money. Crashes are the best Is this guy actually legit? His returns seem too good to be true. he won't get to 10M if he does... Lol if it’s so easy why don’t u show some pics of ur account with the million dollars u made? People are such haters in this sub lol, then go ahead and make your millions on the 2021 bear run Yes please remind us if it happened! I'm new here so don't know how You set a remind me 😂 He used to be much more chatty, a lot of people insulted him and he even had youtube vids up they talked shit about. I believe it can effect his strategy because he has the money to move the volume and sell buy walls as he wants and not rely as much on luck. Moving 100k in a penny stock is a shitload of volume you have control over for example. YouTuber Madaz Money. He's a scalper. OP based his strategy on Madaz's with a few tweaks apparently. Wow, i try to give some actual advice based on real experience, and the fool decides to call it gatekeeping. But naivety is a fool's blessing! Moreover, you've made this process so overly complicated, traders and market makers like me feed on your bones daily. How much have you given us over the years trying to implement BS, code, indicators, learning options and futures, begging for edge, using every scanner under the sun. Last bit of advice, take it or lose. Drop all the complicated crap. Trading is very simple. 99% of people fail because they think it is complicated and they are looking to chase shit that people like this guy post. How many more times are you going to chase? You won't have any legs or money by the time you're done. The vast majority of professionals that learned how to trade at real firms. They might put on 5-7 trades a day. You might argue that they have more capital, but they also make much more in % returns as well. Most people I am with in a current trading room take MAYBE 3-4 trade per day MAX and have high returns and win averages from 70-90%. Sitting on your ass all day trading scalps is ridiculous. I mean daytrading is still investing money... Maybe I could used a better word, but I’m subscribed to a lot of stock reddits, and randomly saw this. And I don’t really see the point in derailing the thread just for a simple terminology. gave his ass to @catchpen Because I for fun made some screen shots and you can doctor these screens or paper money account , ect . It could be real , but let’s agree to disagree that maybe 50% of these posts are real . IIRC, this is the same guy who used to post like 200-300 trades per day. If that's his strategy, I can't think of many people who would have the stamina to copy it. I hate you fake Yoda Bot, my friend the original Yoda Bot, u/YodaOnReddit-Bot, got suspended and you tried to take his place but I won't stop fighting. -On behalf of Fonzi_13 It does definitely help in ideas of what to trade into, but I was leaning more towards software, right now I use Robinhood (despite everything for convenience) what do you use for the day trading? Not looking for secret. That assumption is like saying I asked Lebron James his workout routine bc I'm looking for a secret. Hard work is the magic formula obviously, but practicing correctly is powerful. You ask people who are successful what their habits are not because it's a secret formula, but bc they have habits losers aren't willing to adopt. Don't put down people asking smart questions with assumptions. Not helpful. and timing, arguably one of the most important factors I agree, but it is reassuring to see how successful traders do it too yeap, risk management is huge. I see traders self destructing all the time because they refuse to manage risk Ain't that the fucking truth [deleted] 💯 Absolutely. Took the words right out of my mouth. Happy cake day But I disagree. Strategies that are successful are valuable. Emotions only trigger with drawdown and most strategies that are profitable don’t have significant drawdown. Nah, they keep it a secret if everyone knew then no one would make money. Their is a deep state of investors thag rule the world . And when you figure out the formula to make money off of others and the government. They forcibly recruit and brainwash you. I know I escaped people say I got schizophrenia but I say NAY It seems that you have experience and I will just go into this, any advice or where to invest first? Thats some golden words You are so right, emotion is maybe 90%. I've said before that you could flip a coin and go long on heads and short on tails and be profitable with good money management. At 1M you can probably do both. Did you watch the video lol It's not facts though... If you actually *look* at the graph, you see that the past few weeks since mid-February where everyone was crying about BeAr mArKeT have been some of his most profitable. It's literally just a demeaning comment playing down the insane amount of skill and hard work OP put into this. It's funny how people assume things about OP without even looking at the post properly. Probably his followers or something idk lol My bad wasn’t trying to sound salty, I was just trying to imply that almost anything bought after March would have done well. The cash I had did 300% and calls I played that year did fantastic too. The rest I had to sit on and hold. This is a graph of profit, not balance. If he started with $1m, he could have put it in anything for 2020. Fantastic year with calls, most positions I had to hold since they were pre-2020. The cash I did have on hand after March did about 300%. I didn’t mean to sound critical, just saying almost everything did well if someone put cash in after March 2020. Bro just type in any stock you like and look at it from march-now. He’s not joking lol. it's not worth spending effort informing these guys. very low iq here. How does one scalp ? I love that growth triangle, so linear, he would make pythagoras proud Ehh post covid has been a huge consistent market wide bull run. OP certainly is a good trader (hell look at these profits) but the stratergy OP used would probably be less profitable during any other period. It means you keep making profit on your trades which allows you to then have more buying power which then allows you to make bigger trades which then allowed you to make bigger profits and so on until you have a shit load of money 😏😳😳 Compounded just means that if you start with $10k and make 2% one day, you end the day with $10,200. Next day you're trading with $10,200, make 2%, end the day with (10,200*1.02=) $10,404, which is the amount you're trading with the day after that, etc. Basically it means whatever you make trading each day is added to the amount you're using to trade the next. IRL it wouldn't be exact like this, but as long as you average about the same % gain each day (easier said than done), the math holds. I think it would be scaling position size as your account grows. Of course not. But I doubt OP was using the full $1M on each trade, unless they were trading something like SPY. You can also make more, smaller trades at the $100k level.. It's what he said. Idk man. Talk to him. I have 0 clue of which broker he's using but assuming he trades from 4 am to 8 pm, its ~2 trades/mins, it obviously has to be more than a full-time. 8 hrs would brings him to ~4 trades per mins which I don't think that's possible. It definitely sounds tedious and boresome, but trust me, me and heck tons of people would do it without hesitant for this return rate of 1M+ USD/yr I'm a noob, what's meant by scalping in this context? Worth it for sure A lot of it had to be some of the meme stocks. But again, like I posted above, he is doing it full time, and they are all short term gains, so he could owe the government hundreds of thousands of dollars. Still nice to make a a few hundred g's in salary but its basically the same as having a full time job. How the hell does anyone do 4 trades per minute by hand? It feels like if any strategy would work during a bull or bear market - it would be scalping. Assuming you are going long and short, and know how to play both sides. how can you tell when a black monday is happening? like any sort of ""indicators"" before it happens or does it usually catch everybody by surprise? why are crashes good? wouldn't stuff be short halted anyway? idk how it works just asking. Phihix is legit Imo. I've seen a lot of his videos. He doesn't sell anything and just does what works for him. His strat is definitely not for everyone. Madaz on the other hand sells courses and comes across as too hype. To me he's just another furu. I don't quite understand how letting some people know how he does things could blow up this strategy's profitability. Is it really that critical to keep your strategy a secret? 😂 >It was easy = hating lol wut? I didn’t say it’s easy or hating? I made off well too, spite having to sit on the majority of my bucket and wait. I even said skill is involved. All I’m explaining that is OP dumped a bag after March 2020 after literally everything tanked. It’s not meant to be an insult or jab, it’s simple facts, it was very easy to buy calls and buy everything on sale and let it rocket if you had cash. Not everyone had cash either since everyone also freaked out and jobs were closing or going remote left and right. I love when people see this and they’re like yeah it was easy. Why the hell didn’t you do it then? You must be super stupid I guess. Ive made millions just the cameras weren't on... If you dumped any amount into any major airline this time last year, you literally over doubled your money. So please /u/clarkymlarky , chill a bit and realize the pandemic lowered the bar for a lot of new investors and made it a field day for seasoned ones. I gotta work on the putting game lol Haha I think it’s !remindbot RemindMe! June 30 2021 RemindMe! June 30 2021 He mentioned that he started with sub 30k and used Madaz Money and Investors Underground I believe. My apologized I didn't put Madaz and youtube together for some damn reason. For a million fucking dollars, no it's not Yeah I use Merrill Edge, and I recently opened a Schwab account to get the $100 bonus, but it’s not as user friendly When I get my hands on that Secret Formulerrrr... Habits wasn't the question. He asked what his startgy or set ups are. Those don't matter much. Anyone with half a brain can learn trading strategies and patterns that work. But few people can learn to be disciplined enough to correctly control themselves to rationally execute those patterns entry stop out and profit taking. False- steroids are the magic formula. Here here Assuming despite your avatar you’re not diamond handing haha Don’t believe everything you read here . This snake oil and people hyping stocks has been on for years . Many people are losing and these fake posts about gains . Would you be on Reddit posting daily if you were a millionaire? You should ask Paul Tudor Jones what he thinks of that. Emotions trigger with every trading action whether a loss or a win. The most common time for a big drawdown is after a series of wins and the trader feels ""unstoppable* There is always money to be made in the market. Even if the bear is in your sector. Seriously. I threw $150 into a shitcoin six months ago and woke up to a $9500 surprise this morning. Nothing makes sense anymore. Enjoy what profits you can reap. He was at a $400k return in January... Agree ofc, u re not wrong, completely agree. Where's your announcement that you just broke a million then? Scoffing at something being easy when you've not been able to do it yourself is a weird way to respond to someone. 300% might have been easy - which is why you were able to achieve it. OP has done orders of magnitude more than that. And probably could have done better ... Dumping a million bucks on SPY in March gets you damn close to 2x. It’s not critical. If anything it shows op had a good enough understanding of the market and foresight to start then. That’s better than most. I have a watchlist from back in March when I knew near nothing about trading. My family and friends told me I was an idiot so I never invested. Now I keep it as a reminder to have conviction in my own ideas. Good job, congratulations. I know what has happened within the last year, my question is how well did he do since you know, it's so easy, right? Except OP has 10,000% gains over that time period which I think is a bit higher than the average stock increase over that period. Honest there’s so many different ways to scalp. I recommend checking out videos on YouTube. TraderTV has some great tutorials. But the way this guy (Kyle) scalps is that he does something called tick trading. So he buys and sells within seconds. Buying off the bid and selling on the offer almost instantly. If that’s something that works for your trading personality, then I’d recommend getting it a try. Personally, I found that it developed bad habits on my end and used a lot of “mental” capital. One thing you have to be aware of with tick trading is the fees. I believe he still uses ToS which is zero commission. If you don’t have zero commission and do tick trading, you’re gonna pay a lot of fees. Hope this helps man. Have a good one. Lol he's literally been the most profitable during the past few weeks when everyone was crying about RED MARKETS Also, bigger losses Yep, bootstrapping your way up. It's not hard to make smaller profits in ES , but as your account goes up, the small profits get bigger, though to you, you are playing with alot of house money at a certain point which will allow you not to ignore risk, but push it out a bit more than you normally would in the correct situation. And seems like OP is really good at recognizing those situations. All good looks like other people already called out this isn't legit. You cant trade that volume on tda. Maybe a few times but he isn't using this strat on a long (or medium) term basis. Yeah I mean this is a day trading thread. The amount of trades just seems insane, and you would have to do it full time 100%. That and you better keep some cash lying around for Uncle Sam and whatever state you live in. But I am assuming he knows that as a professional day trader, if he is an American. If he lives in Luxembourg then he doesn't pay a dime I think. Small quick profits. Essentially trying to hit the bid and selling as soon as it moves a few points. How? Scalping is directional play Crashes cause extreme volatility. Volatility is key to making a lot of money while day trading. Halts only last for 15 minutes anyway so that doesn't really affect things much Ya I was speaking about Madaz. I've seen him on Twitter and his gains just seem surreal. Either he's the greatest trader on earth or something is up it seems like.. Probably in some cases... if everyone has the same strategy, it might become less effective... [deleted] >...it certainly makes it stupid easy... > I didn’t say it’s easy... >...it’s simple facts, it was very easy... Okay then, put up some actual proof. Lets see some pics of your account progress. Also if you followed this guy at all you’d know that he primarily scalps small cap stocks. So it’s not like he made this with a few lucky plays. He grew this account steadily by being a great scalper/day trader. You don’t even know what ur talking about so why are you talking at all? Because if you put ANYTHING in 3rd week of March 2020 you are up nicely. I say that having done so and just letting it sit. Not enough went in to turn it to a million but make due with what you have to enjoy gains in the long run. Wondered if you were referring to options or golf. Realized it didn't matter. I will be messaging you in 3 months on [**2021-06-30 00:00:00 UTC**](http://www.wolframalpha.com/input/?i=2021-06-30%2000:00:00%20UTC%20To%20Local%20Time) to remind you of [**this link**](https://www.reddit.com/r/Daytrading/comments/mbog18/crossing_1_mil_profit_never_thought_i_would_able/gs1u5c1/?context=3) [**1 OTHERS CLICKED THIS LINK**](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5Bhttps%3A%2F%2Fwww.reddit.com%2Fr%2FDaytrading%2Fcomments%2Fmbog18%2Fcrossing_1_mil_profit_never_thought_i_would_able%2Fgs1u5c1%2F%5D%0A%0ARemindMe%21%202021-06-30%2000%3A00%3A00%20UTC) to send a PM to also be reminded and to reduce spam. ^(Parent commenter can ) [^(delete this message to hide from others.)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Delete%20Comment&message=Delete%21%20mbog18) ***** |[^(Info)](https://www.reddit.com/r/RemindMeBot/comments/e1bko7/remindmebot_info_v21/)|[^(Custom)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5BLink%20or%20message%20inside%20square%20brackets%5D%0A%0ARemindMe%21%20Time%20period%20here)|[^(Your Reminders)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=List%20Of%20Reminders&message=MyReminders%21)|[^(Feedback)](https://www.reddit.com/message/compose/?to=Watchful1&subject=RemindMeBot%20Feedback)| |-|-|-|-| How are you doing ? You rich? You’re missing the point. Getting good at trading specifically is not supposed to be about making money. It’s about making the most money in the shortest amount of time. You’re number one goal is supposed to be freedom. Not sitting on your ass taking hundreds of trades a day. It’s about taking a few trades, trading for maybe two or three hours, making more than $1 million, and enjoying your life and having extraordinary freedom. Until you’re making that kind of money you’re not gonna ever understand and you’re just gonna be chasing a profit and you won’t be successful. Ok plankton True. There are many elements to trading. However, I still maintain strategy and discipline is an art that is replicable and therefore can be learned through sharing and/observation. My second point is if you want people to listen to the wisdom you personally are bringing to the table, you may want to stop using phrases like ""half a brain"" and ""emotional"". That in and of itself is an emotional response to a valid question, and you may have a valid point, but ironically you just sound like a blowhard when you use emotional and judgmental language encouraging level headed and logical thinking. Yeah? They still sit on the toilet, so they still use reddit I mean yeah. The whole point of daytrading for me is to work from home and make money sometimes only working a few hours a day. Obviously I'm still in the learning stage and will start paper trading soon but ideally even with a million $ I'd have even more time to fuck around on reddit lol I do nothing but sit at home now in days after doge went parabolic and I still use, post, respond and comment on reddit, millionaire or not I'm still the same broke guy that worked construction and likes staying up to date on shit or should I say current events since I'm a millionaire? By the way I had 33 million dogecoin and sold this year at .62 if ur wondering. Ps. I don't trade stocks grandpa.🎤 Yes I DEFINITELY would post it. Such a stupid argument. People who make a shit ton of money are bored off their asses. They are usually type a people who need to keep doing things to feel good. Like make videos or post things on Reddit. I seriously don’t understand why it’s so hard to believe someone could make money trading. You know if you study Medicine for 8 years you can print money at the hospital. We’ll study trading for 8 years and you can print money at an exchange. It’s no fucking different. Exactly, it would be ultra easy to fake that screenshot Yep. Somehow the dopamine messes with the analysis. That’s why a strategy that is written down in wood is typically easier to reproduce than some electro-chemical transistors in the brain. But even then, emotions can be dealt with. Logical reasoning fundamentally is separate from emotion. And logic rules are what strategies consist of. Which shitcoin? I’ve heard of bit coin, dogecoin, milf coin but never shitcoin where can I buy Let me guess, filecoin? Was this pure luck or was there some reasoning behind your purchase? People have such a hard time reading clearly labeled graphs And when I see a profit graph that looks linear I assume initial investment was significant. If this started from ~$0 I would expect an exponential graph not one that roughly matches the overall market. I agree, the best thing I’ve done for myself in my life is to listen to myself and have confidence to pursue what I believe in. It helps to educate yourself too along the way. Well said, that was the intentions of my comment, I guess maybe it was poorly worded, but essentially any good investor and trader with skills would have killed in 2020 and any novice traders would still have done reasonable. A bear market, like potentially this year, is the real challenge. I’m not personally comfortable enough with putting and shorting my way to financial freedom so I’ll probably attempt a few but hold and wait. this. dyor not just for trading. Ignore these people, no stock besides fuckin gamestop did a 100x expectedly... Thanks Yes true, but if you have a good R/R ratio and high win percentage (like he does) then it still equals compounded earnings. The only thing that’s different is that it’s harder to move bigger volume in and out of positions, so there’s a limit to your position size eventually. I don’t see any losses on this graph. I’m so confused. According to one of his previous posts, he's currently in Thailand and his has Thai accent, I'm assuming he's Thai, could also be dual citizens. Even for foreigners, you still have to pay this tax, don't you? In Lux you must hold 6 months to avoid taxes Ty for explanation, that is fucking crazy to do manually. I cannot imagine doing that honestly I'm a software developer for my job so I was thinking of making something to trade for me somehow but I don't trust myself/know where to start. Would you know? Not if you're scalping option premiums. To me he ticks all the boxes of someone that trades on sim claiming its live and makes money on the courses/chatroom. That is absolutely unreal. I didn’t know anything about OP prior to making my half ass comments, which I will stand by on any other trader who made out half way decent, but I’ll check into his technique, from what you are saying, would he have potentially used a bot or anything to enhance his trades? So unreal perhaps it isn’t real. God I turned into Donald trump I don’t follow him so probably why I didn’t know his method. I said again in my comment it takes skill not doubt, but again anything would have done well post March 2020, idk why that’s so hard for you to understand? I’m not here to swing dicks, or prove anything, just trying to pass on simple info for new traders that 2020 was a very very unique bull year. You do know he never trades large caps? All his trades are closed out each day. So no he actually made his money go watch his youtube video >Because if you put ANYTHING in 3rd week of March 2020 you are up nicely. Maybe so, but you are likely not up 10,000% as OP is. Options with a golf pun, but you are right, none of it matters. Nope not yet 😂 getting there though. Dude, the market is open 6.5 hours. I currently work 10 in the sun for far less than a million dollars. We're not the same. I totally support someone putting in the hours for the extraordinary FINANCIAL freedom, to enjoy life... Damn straight I don't care. If someone gets offended by that I would use that as a early warning sign they're far too sensitive to handle what the market is gonna give them. Double here here Yeah I never got that argument this whole idea that rich people dont use reddit. You think rich people don't want to use social media or stay up on current events? On what planet lol? Apt Wow, well done, what did you buy them for? Sure . Funny very few people talk about loses . I’m sure you always win . And your a millionaire. Why not do live real time videos , how ever you can do that . I’m old so I wouldn’t know . Send me a real time video sure you can do that now that your a millionaire…… So a year later let’s see , not so many AMC POSTS OR GME. I just hit a million is securities . So I haven’t posted or been on this site in a long time. I keep a quick log on all the silly things people post or tell me in my travels . The latest one was xrp if I took the advice I would be down 20%. The market is the market it doesn’t always move the way one might think . Covid made people money , and they invested in a market that just went up . Too bad no one gets back to me about how the last year or so have been . I hope your making lots of money . Exactly Harmony. [deleted] No joke, my friend made [shitcoin](https://www.dogshit.network/). I’m definitely selling if you are buying. Safemoon, sell out before it pyramids. You could go 1000% before then. Or pop and -90%. Harmony ONE I bought at 40 sats when bitcoin was around 10k. Yes and no. I had watched it for a long time before I jumped in. Bought low, and had forgotten about it until I heard people mentioning it like they were shocked. For real though. The ""but but but... bEaR MaRkEt"" period has literally been his most profitable xD Happy cake day! Its incredible considering his 800k of losses during this time The graph just represents his gains over the time period, it’s not a graph of all gains and losses. Losses are noted below - nearly $879k I don't know. I think it depends if the U.S. has a tax treaty with the country. It can get very complicated. Normally you would pay taxes in the U.S. and get a credit back from your home country, although again the rules are different for different countries. Being that he is foreign he would probably have to submit a w-8 to whatever broker he was using so they may end up withholding it from him at year end. Not sure that it applies to capital gains though. I'd use some of the cash to retain a tax attorney in the U.S. thats for sure. Because they will want their piece if they can get it. That’s awesome, factor in US <-> Thailand—the exchange rates, purchasing power parity / cost of living—and the payoff must’ve been much greater for OP. Even if super-taxed, OP earned more from home than ER docs throughout COVID. Fellow software dev here, have had the same thought. I looked into a few api docs before I thought, “this is what the big trading corps do” I’d be willing to hack something together though. I’d throw a couple grand at an experiment I’ve bedn practicing a similar strategy with paper trading snd I’m pretty good at it but I’m way too chickenshit to try it with real money only way I’ve squirmed out a couple times was having enough buying power to average down a huge loss fun as hell with fake money though Im a software developer and run a prop trading shop with all automated trading strategies. There is nothing too complex. I run 4 different strategies including opening gap fades & follows for the first 15 minutes of trading, a pair deviation trading strategy on stocks that are cointegrated, a 0DTE credit spread strategy on leveraged ETFS and a pivot scalping system similar to what op is doing. I started 5 years ago and worked as a dev at an investment firm prior so I had some knowledge going into trading. To get started pick a broker, develop a simple mean reverting or momentum trend strategy and run it, you will improve as you go along. My systems place close to 1,000 orders a day with over 250,000 being traded a day in stocks and crypto. There are a ton of good books and also learning about market microstructure is also helpful. [deleted] They actually already exists, and you can purchase them if you are trusting. I don't have enough money to trust lol How? Ok so if you don’t know, why are you making assumptions? And again if it was so easy, let’s see some pictures of your account statements. So many people talk big but very few show the amount of success and transparency that this guy does. So I just don’t like when faceless dickheads on the internet with no showing of any of their accomplishments add their unneeded 2 cents. Do you have the link by chance? what about now bro Depends on which market you’re trading. But the market I trade is not open for 6.5 hours. Neither is the New York Stock Exchange. I have my freedom and I can’t stress what I’m saying enough. Look at my profile. I almost never comment on here. Might do it a few times every few months. My mentor was a blue collar laborer for 15 years. I can assure you, he’s never tried to treat like this either. Discipline is freedom. Over-trading is not the way. If the legitimate professionals don’t do it, what makes you think it’s the right way? Bottom line, without the strategy, and the handle of emotions, you'll not make much. No good strat and education? Prepare to make very little. Good strat and poor emotions? Prepare to make very little. They go hand in hand. Some strats need more discipline and emotion than others. No hard in asking about the strat, especially since this poster shows results all the time...for a reach-around? For congrats? For what... I have a saying at work whenever I work with C-Suite: ""everybody poops"" Everything follows cycles. From decade to minutes you can spot them. Im still waiting for 2025. I sunk everything into crypto and was up 100fold. never sold, cause I'm an asshole. Lol. Anyway, I don't see me stopping reddit if I get rich. Im not a millionaire but I make 3 times what I used to at my job now, and still post. Haha. No but for real, why would I stop going online just because I have a big house and a nice bmw? Congrats on your success, Ill be there in 2025. See you then. :) Arguably not a shitcoin, but it sure did hit, didn't it? Nice Ask your mom. (I'm so sorry... But it was right there.) Only-coins.com coming soon Dark Web Brilliant! Not a bad turn around, nice! Congrats! Not really, the best traders aren't necessarily better at making money than the average person, just better at losing it Just backtest it with a paper trading account first. I was thinking do a fantasy portfolio for months before I give it real money. Tbh I'm most sketched by all the oauth and password storing and everything I'd probably do horribly unsafely. Now that I think about it idk why I've been thinking that... I'll just manually give the account money lmao, as long as I don't teach it what shorting is I can only lose what I put in manually... I should work on this hm. Idk anything about TA tho, I was thinking make a thing that buys shit social media talks about, but it's a lot of filtering if I want something I actually trust. There are hella websites analyse reddit stock info, so I'm hoping I can use their api LOL, idk if I'm being wishful. I know there are so many websites for it so it feels silly to recode that just so my bot can understand the info and then actually act on what they've already solved. I guess worse case I web scrape the info from those websites... Shit idk what I'm doing I'm in my young 20s lmfao Another software dev here who worked for NYSE Euronext in the financial trading department, we made feed handlers and algos that would do trades for people, we sold these to JP Morgan and Goldman sachs and so. Writing one of these algorithms and having it be successful requires a team of about 5 -10 mathematical geniuses and about 20 autistics programmers, shits high level. How are your profits? Here's a sneak peek of /r/algotrading using the [top posts](https://np.reddit.com/r/algotrading/top/?sort=top&t=year) of the year! \#1: [NEW RULE: Anyone found pumping stocks or bringing attention to individual tickers will be perma-banned. We are not WSB. This is an algo trading subreddit.](https://np.reddit.com/r/algotrading/comments/l9k2pl/new_rule_anyone_found_pumping_stocks_or_bringing/) \#2: [Would anyone be interested in a beginner series of posts?](https://np.reddit.com/r/algotrading/comments/i7fu9r/would_anyone_be_interested_in_a_beginner_series/) \#3: [Some of my algotrading/trading book collection](https://i.redd.it/x2jnbmtaz5h51.jpg) | [108 comments](https://np.reddit.com/r/algotrading/comments/ia6wrv/some_of_my_algotradingtrading_book_collection/) ---- ^^I'm ^^a ^^bot, ^^beep ^^boop ^^| ^^Downvote ^^to ^^remove ^^| [^^Contact ^^me](https://www.reddit.com/message/compose/?to=sneakpeekbot) ^^| [^^Info](https://np.reddit.com/r/sneakpeekbot/) ^^| [^^Opt-out](https://np.reddit.com/r/sneakpeekbot/comments/joo7mb/blacklist_viii/) Oh they definitely exist aha, but I don't wanna pay. Plus this would be good for my resume lol You can buy and sell the same option calls or puts at the same strike price to make profit (as long as the buyer is there, which is why I only scalp on high volume stocks). With the benefit of not having to worry Theta decay. Sounds like someone is salty they lost money during the greatest bull market of all time Maybe that's the difference here. I'm not striving to do it the ""right way"" according to others; rather a better way for myself is all.. I love sharing our perspectives though, this is cool I’m not trying to be snarky, how long have you been a dev? Late twenties enterprise dev myself. Oauth and token exchange and storing credentials doesn’t have to be sketchy I was thinking something similar but also including a running list of the tickers pennystocksDD, WSB, And this sub talks about most and investing proportionally there with a trailing % stop in the top talked tickers Yep. I figured. I know enough about this field and have been around the block enough to know my idea smelled That being said, I’d still be interested to just get my hands on but really only for that purpose. Hence why I used the word experiment Edit: am drunk and made some spelling grammatical errors I’ve only had 3 days this year where I was in the negative. My focus is on risk management. None of my trades risk more than 2% of the account. I withdraw all profits at the end of the week and keep churning the same account balance. It did take me several blown accounts and years of trial and error to build these systems and processes. My profits are enough to pay me a salary of more than I was making as a senior engineer at this point. How do you sell it for a profit if the stock price is not moving?? I think they just mean they know some coding, that's it lol Yeah my first job out of college fucked me for 1.5 years so I barely programmed, I actually didn't learn shit for real. Finally got out of there and got this new job like 2 months ago and I was dealing with that and it is fine/not sketch, it's just a lot of power to trust myself with lol . My 1st job was non experience, just a resume booster, so I sneaked my way into this job and it's hard dude Very cool. Any recommended books? Also how do you set up your exit logic? Is it a trailing stop loss? Fixed limit order for set period of time and then stop loss? No profit if it doesn't move, but if you're scalping the goal is to find the swings. If you can find a stock where the Bid/Ask isn't too far apart, and you see the numbers fluctuate to your comfort level, I see it as you get $1 for every 1 price tick, per contract. So, buy 10, you're watching your money drip and rise $10 every time that premium moves. They explained in another post that they’re employed as a dev, but are very early on in their career If you guys are software engineers, and not in a FAANG or top tech company yet, the quickest path forward for y'all for good $$ is to leetcode your asses off for a month (or more if you suck at it) and get a $200k+ yr job. For late twenties dude you could make $400k+ if you land a senior level job. For reference, I am 34 yo Sr SDE and pulling in $400k this year, I started my SDE career at 25 with shit companies though. Once you get your big dick software job then build your trading bot with a fun money bankroll. I’m making mid 300 as a backend lead now (EM) after following a similar path and I 1000% agree with this advice. Sage wisdom friend I could make more, but I really dig the company I’m at and the benefits are hard to beat To be honest I’m finding it hard to allocate time to pet projects because I’m really enjoying spending the time I didn’t have before on video games and my gf/our pets Meh I don't need to grind that hard. I'm happy with my salary and the job I'm at has really good growth. Life isn't all money, I've got more than enough, I just want to capitalize on what I have and what I'm doing with it before focussing on getting a higher salary. It's all the same strategy to invest you know what I mean? I mean.. you aren't wrong but you ARE on a day trading reddit sub :) Yeah, for day trading. Not to max out my salary asap" Share your Trading Rig?,5280,https://i.redd.it/j8px49exymm61.jpg,"This rig is worth more than my portfolio [deleted] This is so funny. Badass retail day traders 🤣😂🤣 I'm trading off an iPhone 6 with a cracked screen. Edit: Wow, thanks for the up votes and the award 🙏🏼 can you execute trades from the steering wheel? I got an iPhone 7 screen. Fr tho, dope setup I have an old dell running windows 98 Two monitors and a backup laptop.. More then enough.. Really In this guy's defense, he has what is probably a $6k-$8k racing simulator, and is also using it to trade. I have an almost identical setup. A phone does work just as well tho 🤣 The Market rally Dude you’re getting a dell Tell us more about your components, prices, and mounting hardware. Anything you would do differently if you could do it all over? Any time/money savers? Anything to avoid? Bro that's enough to save Zion.... This guy def doesnt fuck! Only Hentai 🤣 Looks pretty basic to me. Meanwhile children in Afri.... When the markets close soon but you have a F1 race to win at 5 Talk about driving up stock prices. I'll see myself out now All that and i’ll still lose money ;-; Idk how OP can expect to make any money with only 4 screens. You need at least 6. The envy in the comments is too rich. Sick set up. Would love to play some super Mario kart on it Do not forget your Sparco Driving shoes! A must! I'm more of a quant, should I send a photo of my VPS provider server room in Seoul? Direct drive trading :v I don't see the needs in this. I trade with 2018 laptop and still making money. This is remind me of the ricer cars that make a lot of noise and go nowhere My guy, go outside. ✌🏼 Can I ask what you invest In mostly if u don’t mind me asking? I take it you’re just casual? Thats hard core. I have a laptop and am gonna upgrade with an extra monitor. Watch out! If you don't mind me asking, what programs are those? What clothes do you wear when u sit behind all those monitors ? I.... uh.... does my iPhone count? 😅 Dell laptop to the the left, ipad to the right, and a sammich on my lap Do you sit on the joy stick when you make a bad trade? I can't take a picture of my own phone. What seat is that? It looks like it has speakers built in the headrest. I would like to get one for my sim racing setup. Red days to be giving you PTSD with this rig Link the wheel to buy and sell and pedals to quantity. Play iRacing and profit!, avoid ovals ;) Just reaffirms my desire for two Samsung G7/9’s landscape one above the other. If that’s a Corsair K95, I see you are also a man of culture. Nice rig! Which macros do you have programmed on G Keys / extra mouse buttons / pedals Why? It won’t be as good as yours... Grats friend 🥴I wish you nothing but gains in the future! Big rig just to trade GME [deleted] Iphone 8+ with a cracked screen too omg can you build me this im in New Jersey Oh you trade trade. Nice Easy to make money when you already have money. Beautiful I’m gonna get there one day Wow, that’s nice. The gas petal better be the buy button Now all you need is an IV Drip all this just to yolo gme @ 400 😭😭 Plot twist: the rig is worth more than op’s portfolio. MacBook, 11 pro max, s9+ A truckstop bathroom stall and my cricket wireless Are you making any money The amount of hate in here is unbelievable. Sweet set up man, shits awesome! If you posted this without the charts on the screens I would have assumed you’re a virgin. Sweet rig though. And a sim racing guy!? Nice Nothing like purchase stocks while piloting an F-18 Literally have to borrow my gf‘s boyfriends iPhone 7s to do my trades That’s the sickest racing/stock watching setup I’ve seen!!! Thanks for upping my goals Bet that stress pug got a lot of mileage last week Adios, turd nuggets Think or Swim. Iphone 12. Capital $1000 ( not gonna lie it was $5000. To start with. Amazon options over earnings took a chunk as they missed earnings ! I decided to follow the smart money najarian bros on half time report, somebody bot a gazillion call options why not buy 1 call ? You guessed the rest ! Been trading for over ten years and work as an analyst. I still don’t understand why people need more than 2 screen. Me and one of the IT guys were talking about it at work the other day and how unnecessary it is. I’m holding mine Looks more like a hardcore porn setup Day trading...the Ultimate Video Game. [deleted] 4% annual gains? how do you fend off the avalanche of pussy with that impressive (douchey) set up? Holy shit bro one can only flex so hard Uhhhhhhhhhhhhhhhhhhhhh I can guarantee this dude never made any real money. Every time I see people posting setups like this they have like 10k all time and think they're doing something. Cool ass load out, but the boring color of the room would make me blow my brains out. It’s like sitting at the dentist office... Lol why the fuck would you need this?? I truly don’t know. Someone please enlighten me. u/knarfny_ Please explain in detail all the specs of your setup there, including software, hardware, and cloudware, and your current portfolio performance stats, if you might be so kind. Many of us may want to emulate this opulent and obviously prosperous nerd throne. Tbh this looks like you took your dope racing setup and threw some charts on each of the screens....trying a bit hard but nice setup. Just going to assume you have a 7+ fig account (at least) to merit such a setup. Very cool btw, do you also run a F1 / flight simulator ? Seriously though, main reason for this post is about executing trades. I normally trade on my near $4K iMac using WeBull. From the point of hitting ‘confirm’, takes 14-18 seconds for the trade to appear in my ‘positions’ list. While I can’t stand sitting in my racing rig to trade, I can execute trades instantly on this setup. What’s even worse, my iMac is hard-wired, this setup is on Wi-Fi. 🤷🏻‍♂️ Damnnnnnnn!!!!! holy shit dude. bru-tal moneymachine Do you day trade for a living? If you don't mind me asking Two monitors... but I really only trade a few things these days. That looks so awesome!! I need an office just like this!! What a GameStop changer!! I mean game changer. 😂🤣😂 [deleted] How much did that setup cost? I admit, that'd be fun, but just a phone and 2k predator Amazing! How much have you lost? Turbo Trader. How do I take a picture of my cell phone? Lenovo M10 laptop to read stories/look at charts and Samsung Galaxy Note 10+ to trade What a difficult setup I wanna have this one day. LMAO this is wiiiiiild! I've just got a couple of monitors and my fidelity ATP app open Could’ve gone for vr and have the same experience. I day trade on an iPhone 7 that’s been dropped on the floor more times that I care to admit and am doing quite well. But, pretty awesome set up you have! Specs or ban Just 2 macs and an iPhone 11 here I trade on an old Samsung galaxy note 9. cat uses peddles to trade...thats some next level sht Buy and sell on the flappy paddle? Have you heard about webull? I use ToS mobile on a galaxy s9+ while at work. Made 684% realized gains last year and killing it this year so I'm not changing a thing. How much money do i have to lose to get rig like this ? What’s your lap time around Monza? I can't figure out how to take a picture of my phone with my phone without using a mirror.... so just imagine I am posting a picture of a phone and a lazy boy. This guy is ready for the moon take off! That's ridiculous That seat 👀 Become one with the matrix would trade that chair out in a hot second! Comfy chair *runescape rig whats holding those monitors what is the website on the left monitor? dumb question As a gamer i love this. Only have 2 monitors tho but i very much feel the aentiment of wow this guy as i trade on my cracked phone on the shitty app Full fanatec and rig just to lose to drunk rednecks with Jerry rigged G27s they found in the dump My iPhone 😂😂😂 My phone won’t let me take a picture of my phone and mirrors are to expense so I can’t show you a reflection. More screenz = more gainz if I'm not mistaken I just transferred out of Robinhood to TOS and considered Webull. Would you happen to tell me why you chose Webull over others? Also care to share some of your main strategies as a day trader since I read in a comment you have done this for twenty years. Seems more like an expensive gaming setup, but gotta tell your wife it’s only for work. It’s looks cool though. Not gonna lie, I love this. Looks comfortable as fuck. When you upgrade to a setup like this, how much more revenue does it help bring in? Are space ships required for moon travel? Gotta go fast! Out of interest - what is total cost of this set up? Gas - buy at bid Brake - sell at ask Clutch - liquidate everything How much was todays P/L? Do you brake late into your entry points? Day trader / Star Citizen twitch streamer 😆 Are you the pilot of our ship? This looks something you'd fight to get out of, not use willingly. Whoaaa imagine playing the game Abzu on that. That would be awesome. Wait was this supposed to be a flex of gear using day trading as an excuse? Perhaps, but I still am envious. Dang. For fucks sake, with a set up like that dare I ask but ..... Are ya winning son ? Where is the bong? i came. No. Share your pnl AND your trading rig. iPhone 12 here. How did you mount the topmost screen OP? Is it on a stand or mounted to the wall? Neo, this has to be done 11 year old iMac here. Meanwhile I'm over here on a regular laptop staring at 1 futures chart like ""Why corn go down"" What is the advantage of that joypad? and do you stream your trading? Dude this is a gaming ring not trading I’m using my phone. That’s it What type of virginity protection device is this? Why the hell do you need such a setup anyway? Do u make trading videos? Overkill? Give us an overview of the software you use? Lol! Amazing... what trade app are you using? 👏 You probably could have invested that money and make a few thousands a month You have foot activated triggers.?! You ape 🦧 driving fool!! What trading platform do you prefer..? Map your trading shortcuts to the racing wheel Needs 6dof so you can really feel the dips jealous so jealous My cellphone smeared with shitstains because I dump and trade without washing my hands Goals This looks like Microsoft Flight Sim gaming rig to me. Just saying. I knew all simracers are day traders in disguise Anyone else think this is J.P.’s rig from Grandmas Boy? I want to learn how to trade well enough to break even on a setup like that. That SPARCO racing seat 🔥🔥🔥 My iphone 8S and my work PC. Nice!! Two months ago I didn’t get why people need 4 screens for trading. Now I literally use every screen available to be to trade Impressive! This is awesome lol! Do you trade all day? I’ve learned since working at home I can just check into my computer like once an hour That’s bad-ass impressive! https://youtu.be/0g0h9LOfWUs Sweet 🔥 Should i take a picture of my phone? This dude isn’t a trader. He’s a gamer. I just came... By this point wouldn't a single Oculus Quest 2 with ImmersedVR or Virtual Desktop be better? Trader by day, killer drone pilot, at night xD I just get DD for flipping a coin, in the red its now long term, in the green I wait till it goes red then hold long term Straight up Mission Control. Trading on a Nokia and playing snake. Trading on a Nokia while playing snake Very cool, 10/10 setup. To be honest though, whenever I see a gorillion screens like this I just want to ask one, single, simple, question: Y'all ever heard of multiple tabs? Samsung S9 works as long as i have internet. look like a spaceship control room Imagine Mario kart on this Bro are you day trading or bombing syria? Dope rig Did you buy the rig with trading earnings?? Are those pedals to take the stock to the moon? LMFAO gtfo Insert picture of iPhone here Holy shit!! Nice! A little over kill for me...but then again, I fucks with it! iPhone 11 and learning! Homie turned his car racing simulator into a stock haven My phone is much less sophisticated. Nice setup Looks like a gaming rig lol Ready for some rally with this rig 🙌 That’s so hot Just an iPhone The rig looks nice but are you making profits?? I have so many questions Anyone else casually pulling in thousands of dollars off a broken phone > post your gaming rig and pretend it helps you trade FTFY when I learned photography before digital..... there were fashion magazine photographers using disposable cameras and making insanely awesome images. it isn't the tools (and there's absolutely nothing wrong with nice tools) ....It's the person using them. I really don’t like it, but that’s because I’m jelly af 😆 Sir has a 20th floor private office at wall street with a custom gaming chair and a assortment of g-fuel Red Bull and monster energy drinks in a mini fridge while I’m trading off a iPhone 7 Nice. I use your mom's wifi. 😂😂😂😂😂😂😂😂😂😂😂😂😂😂 sorry it popped into my head and I had to... I just figured out hot keys....i feel so behind the times Yeah uh, I have 4 monitors. Some really expensive computer. Etc etc. I pretty much trade 100% from my iPhone 12. :| Love the lighted keyboard. Gaming rig that moonlights as a day trader 😄 Fanatec DD with V2 pedals? Wtf 😂 Does someone trade in VR? That would be cool, futuristic style What’s the scaffolding stuff holding it all together? Would be dope for my Elite Dangerous setup Lol my iPhone More like racetrading ha That’s a sweet masterbation station A fellow sim racer. Hats off to you sir, clean clean rig. I want the fanatec so bad. Gas for Buy, Brake for sell? Dude is definitely going to the moon I have a 2014 laptop :/ is this what a futuristic jerk off station looks like? Do you place trades with your pedals and steering wheels? So much 80/20! Can't really look at them all at once like that though I can smell the virginity and i am jealous Why Fake. 4 screens and not a single Reddit window I just creamed myself More curve in that setup than my penis This is awesome. A bit much, but totally fucking awesome. Good for you man. That’s epic. I would share mine but it’s embarrassing lmfao iPhone 10 All that for some retarded technical analysis I still call my friends Randolph and Mortimer when I want to place trades on commodities. My phone. Mf got pedals and shit for when he needs to speed up his holding Formula v2 and DD1 nice! I have the same rig as you but just a single 49” ultrawide 240 hz. How do you make the monkey throw the darts at the board? Wish my poor ass could day trade but I don’t have 25k Is that speaker at the top for the closing bell? Super Want! Somehow this seems like some version a productive hermit or galaxy gambler. 12 year old all-in-one HP with a real noisy fan. Does this help? Speed trading This guy’s trading starships! 🚀 Bro, you better be pulling in millions. Holy shit, Batman! Someone plays Gran Turismo. Something is happening in my pants!😍 How much do you make daily? I used to be on 4x LG GN850 monitors (combined total of 5K resolution across 55"" worth of space, though instead of 2x2 mine were 3+1 like OP's), but i now have arthritis in my neck so i downgraded to the LG CX 48"" OLED. In terms of my previous setup, it's like i now have 4 24"" 1080p monitors. So it's just over half the ""pixel"" real estate (which is what actually matters when you go multimonitor) i used to have, but it's WAY better on my neck and the picture quality of glossy OLED vs matte IPS is just ridiculous. Im loving it. This is the best thing I have seen all day. Fanatec gang in the building What platform do you race on? Is that a gas pedal down there? Is trading good for someone with ADHD? My phone. iPhone XR & Apple Watch Stock car racing sim. Very nice. Sir what the fuck Danger Zone!!!! If I sold CCIV before the big drop mine might look similar. Nice set up , all I have to work with is a laptop at the moment. Very inspiring... You know if you don't want to be able to look away from a screen you could just buy a VR headset Cant tell if you're trading here or flying to mars? Rig or Spacehsip ? POV: Woman are not worthy of your touch Not trying to rag on OP's sweet rig, I'm honestly jealous, but as a new trader I have to ask: does this accomplish anything, or does it just look cool? Edit: just noticed this doubles as a racing sim rig. Now I'm REALLY jealous. This as a rally racer makes me moist Pug! Wow!👌🏽 Not even sleggin... this is gangsta 😎 Is it strange this gives me a woody?!?? You on that GT and FlightSim? CTFU Do you use the wheel to make trades? because I def would all the colors confuse my smooth ape brain. Forget the rig. I just started trading myself and could use help on entries and exits. Also finding good swing trades. Mainly entries and exits Holy fucksickles that’s bad ass cringe when gamer meets trader My poor laptop gets wired into 3 extra monitors it has no business handling at once, when the charting gets real. Trading on a galaxy. Love the stylus for charting on phone when I'm being lazy. Wtf. You are f’n kidding me. Similar to mine. I run 3 48"" OLEDs and the GPX F1 wheel on an accuforce. HPP pedals. Sounds like we love the same shit! Poser I like the rig! I just use my phone to loose all my money. Are you controlling the GME rollercoaster? This would be a sick setup for a flightsim Why do u need pedals? You just put charts up on my porn set up.... That Rig is freaking awesome! Awesome setup OP, Im planning on buying some Fanatec with my AMC gains. I want that chair I'm curious what they keyboard is on Tradeing? Don't you mean gaming?!? Awesome set up BTW! Noice. Where's GME you fucken retwrd Damn, that’s 3 simultaneous different views that I can watch of my wife getting fucked by her boyfriend as I scroll WSB I use multiple screens - my phone, my wife’s phone, my daughters phone to avoid pattern day trading restrictions - started with $250 up to $16000. Almost at the mysterious 25k Are those pedals and a steering wheel? Lol did you map out your controller buttons with buy and sell? that would be sick Ready to launch. One IPhone XR with the fidelity app... the best money can buy How much money do you loose on that thing? so I got this app, on my phone A laptop with a tv for a second screen. Account details and watch lists on one screen, yearly, monthly and daily charts for one stock on the other screen. Some day maybe I'll put together a real rig, but this works for now. Does pressing those pedals buy GME? You're the farming simulator guy! This just looks like the iracing UI i hope you’re at least on iRacing I tried getting into trading but I don't have the attention span for it, let alone the disposable income or the patience. It feels like something only someone who already has wealth can get into. I'm sure there are plenty of rags to riches stories but the mental gymnastics and tenacity it takes is crazy. I have limited myself to using Acorns and robo investing. Any tips or encouragement to give it another try? Also, I will never use Robin Hood or the other one which I can't remember again. What car game do you play? Looks like a balling ass gaming rig that’s been converted lol sweet set up. I cant take a picture of my phone but its an iphone 12 or some sh!t 😂😂 I can’t even log into my brokerage without my phones face scan. If I got on a desktop I wouldn’t be able to trade I don't see r/wallstreetbets pulled up anywhere? Yeah I like to drive my charts to... My question is, how does one practically put 3 monitors to work, most ive ever found a need for is 2. Holy crap „Trading“ with pedals... nice My trading activities has been awesomely good ever since I've started using the structured BBS product to leverage my trades with a suitable knock-out level I bet your neck hurts like a mf Why do you need all this? If green sell, if red buy. Up or down. Do you always look at it in code? By portfolio might cover the middle screen and the stuffed dog. Actually no, just the dog. Please tell me you've linked the foot pedals to buy and sell If this is a setup for day traders, I have to wonder how much money they are gaining? I made $100 yesterday and lost $50 today, all from my phone. OP must be racing home with big bank everyday on this meaty rig What's it like in the Matrix? i only see redlines point down there...this seem a primal primate, a wealty one, optimus prime. [deleted] Christ on a cringe... Nah its bullshit, i can see you use it for flying weaponized drone to fuck up some iraqi kids Why? The break and accelerator - are those used for stock speed? “If you’re ain’t rubbin’, you ain’t tradin’!” my oh my that is spectacular I have an acer laptop from 2010 And to think I can do 90 percent of the things he does from just one phone 🤣 Even one phone screen, two big trades a day are sufficient enough when you have experience. But this is a pretty dope gaming setup Does it i prove your trading to get your alerts in surround? Thinking of adding of adding force feedback to gain those extra gainz for my self. damn, is that real? and I thought I had a really nice laptop lol Phone and Reddit jesus! pow! And honestly is that rig making you more than 1 Phone and computer would? Just asking, i certainly hope you are doing better than me! The dog is a good luck charm? But are you profitable? That’s a big phone, much bigger than the I Phone I use to trade on. Oh eemm gee... that’s epic Save some pussy for the rest of us Whenever I see setups like this I always remember there’s dudes on their iPhone 8 making more What do you even put on the extra screens when you’re trading? I only know how to use bollinger bands and RSI This rig even makes me horny. ✔️ You can use this for McDrive It.... would just be a picture of my MacBook Air Reminds me of this [South Park](https://southpark.fandom.com/wiki/IT?file=ITSP.jpg) [deleted] Nice gum! Do the pedals do anything? Like hit the gas to buy and brake to bail? Love the green. Rockets 🚀 away I want to be this good You want a pic of my old IPhone? Strange request. Meanwhile...outside the sun is shining. Wait. Maybe it’s night time. Never mind. He’s literally going to the moon Install a refrigerator and I couldn’t think of one good reason that I would ever need to leave that chair. but can it run crysis Holy Shit! forget about trading how good does F1 play on that thing? That's a lot of fire power just to watch one share of GME bounce around. 🙄 This is the setup of a guy who averages -3% annually Same but in VR using VSpatial and those HDMI virtual monitor devices. Nice setup! Love the keyboard List please! This dude is really going to the moon for real. He has a whole dame cockpit in his room. Can you buy me a car? Serious question, not even joking a little bit. Mine is closer to a potato sack than to this. Still good enough to loose money quickly tho What does all of those screens tell you? Seeing shit like this makes me feeling like I'll never make money off trading stocks. My little $100 can't compare to the chair in this picture. Wtf I see those racing pedals I'm trading on ToS with a 17 inch laptop. I need to get a monitor for more room. Any recommendations? The GPU is a gtx 1060. Does it run linux? That’s sick. Looks like you could run a pretty cool flight sim with that set up. Cool build OP Looks lika car simulation to me. How do you drive it everyday ? The IMAX of all trading rigs! Getting off the phone and now setting up first rig! Now I can justify to the wife what I’m doing vs. sitting on couch on the phone lol Saweeetttt A laptop lol Day trade by day, drone pilot by night. What a nice setup!! I'm a bit newer, but using 2 50"" displays, gaming setup doubles as trading, but now no time for games. Awesome!! I have no rig!! I’m a part time hack trying to learn as much as I can.. the guy who said the rig is more than his portfolio made me laugh!! Awesome comment Inserts picture of iPhone 7.... 🤷🏻‍♀️ GETTING THERE💯 This reminds me of Charles Xavier's Machine Cerebro. Guess I’ve been doing it all wrong with my iPhone 🤣 Mine would be a labtop , phone and a beer 😂😂😂😂😂 I share a office with my wife ‘ that would never fly 😂 nice rig My man doesn't even need stocks to take him to the moon, he's got a full space shuttle set up in front of him 🤣🤣 “Trading Rig.” I see what you did there. I assume that all good “trading rigs” have steering wheels and foot pedals. S7. Maybe if $NAKD ever hits I can buy half of that. Does your rig come with blue light glasses? I made really cool diamond hand shirts and decals for my car. How do I share with all my brothers here ? I get all I need from my iPhone 11. 💥📱💥 Did those rig make you a millionaire I am humbled, this is beast mode... I don’t always trade stocks, but when I do it is from the cockpit of a flight simulator. Old school abacus, fingers and coffee checking in to say ... wtf is all that shit for ? This image is copied over and over why all the rewards lol. I just upgraded from a 7-year old iPhone. iPhone works great 😊 hows the air turbulence while flying? 🤪 Holy hell, J.P. Is real. Do you steal video game concepts and talk like a robot too? So that’s what you need when diamond handing GME....interesting Plane cockpit I just wanna know what did you sell, how many shares and for how much? I see the word “Fanatic” on what I think may be a gaming controller. It’s got more buttons on it than my new 2021 loaded suv! Picard to the bridge! So you're driving the market? Stupid as fuck Fancy! What's the price tag on something like that? With all the beautiful equipment send me some option ideas and short term strategies with that machine right there and let’s make a little guy have some money in his packet lol nice trading rig Ape in awe nice setup! Now my question is how do you set a rig up like that and whats a good stock program to use to be able to read charts and such. I feel bad for whoever races against you That's a gaming rig with a couple of 08/15 charts Samsung galaxy s21 Nice set up. Now Buy some WKHS. It would take me 120 years to make a profit after building this set up. Thats a nice racing seat and steering wheel you got . I hope your playing iracing with that. People are trading futures, while this mans trading peoples futures with this rig Nope I’ll trade you my wife for that rig!!!!!!! Sick setup, I'm jelly! When you are having sex and later during orgasm, do you see green candles? Damn dude. Loos like you’re in the Enterprise and about to yolo into Klingon airspace as a 1 man army. At first I thought it was only for day trading. I assume this person plays video games. That's really good set up for racing or flight/space sims. Holy starship Batman! Wow, but what about the shit bucket? I love it, I am just curious about what the gear box does for stocks. 😀 What do you think about LGVN? 231% HTB, low float and I believe 80% of the float is shorted probably higher now. It was 120% then came down to 80% Tuesday/Wednesday. If the stars align could pop to triple digits. Thoughts? brings a whole new meaning to stock market crash Enter trade. Set stop and limit order. Do some laps until you hear the position close. Me with my one computer and cell phone: 👁👄👁 I have 1 monitor: Samsung 49"" odyssey G9. 1 keyboard: ducky one 2 mini 1 mouse: Logitech G9 Lose money just fine on that. You know you can just use a mouse, right? Has anyone ever used TrustFinance? This is so overkill. I made my first million on my phone. https://preview.redd.it/1r52ztxix0qa1.jpeg?width=3024&format=pjpg&auto=webp&s=41018716057cad2f32fc36ce7823f4acbce4aafe # Watchporn - the custom Nixon is only in there because it’s massive and it’s gold so why not but Rolex, Gucci’s, Movados all in a fiber case with auto kinetic spinning, lighting, etc. If you haven’t made over 70% profit Year-To-Date in 2023, you’re just not trying hard enough….. I would but its my handheld What is your keyboard sitting on? It looks like it's floating Dude uses this primarily for his F1 racing simulator. The floor pedals and F1 race car steering kind of gives it away. 🙄 Same 😂 I’m up 100% this week and trading on a phone worth more than my portfolio 😂 Me too I’m right there with you Screw trading, I want to masturbate in that thing. Keyboard\* Lmao, came here to comment this Is that you Stanley Jobsen?? This rig is worth more than my home That damn thing is worth more than my house. Once you start to buy and sell with pedals you never want to go back. Yeah if you put speed holes in it, stocks go for 2x more “It don't matter if you gain by a point or a hundred points. Winning's winning.” He’s a stock car driver *shake n bake* “I take each set up a quarter trade at a time. For those 10 seconds or less that I’m scalping, I’m free” Got to have controls to pilot the rocket to the moon. IPhone SE, sluts. If I trade while I’m in front of the bathroom mirror, I got that dual monitor shit going. Edit: Thanks for the award, stranger! I'm on an old galaxy and killing it Way better than mine, I'm over here working with chewed up crayons, a note pad and a team of messenger pigeons. Not sure how much longer though, the pigeons have been talking to the squirrels about unionizing - apparently they want dental now. 🤦🏾‍♂️ I use my kindle fire when my two monitors are occupied and its crunch time lol I can’t even use computer to place a trade lmao... but I at least upgraded to a 12 No cap I just started trading what brokers/apps would you suggest to pick up for mobile trading? Cracked Huawei Screen here. I recently bough a Xiaomi Poco X3 and this is my main trading ""rig"" lol. Not that I'm complaining, it's just that this setup looks hela nice. Me too . I’m trading with only one old iPhone 6s on Webull. On a toilet none the less! I’m on the iPhone 12 mini. Thank god for the zoom feature I guess you can label me a 'retail' trader. I don't play with meme stocks, only a few puts here-and-there. Label me anything you feel comfortable with. 👍🏻 iPhone 8 with horrible battery life here 🙋🏻‍♂️ I still read the WSJ, call my broker on my rotary phone and stay on hold for 30 minutes. It’s a gaming rig with stocks on screen. Don’t confuse it Lol. Different accounts with different investment companies, for myself and my wife... All managed on a Moto Z3. what app do you use? Same Same 😂. This is the way Last year walking through city of Como, Italy with the wife. Wife: what are you doing on your phone the whole time? Me: one second .... yup, ok. just made 2 grand day trading AstraZeneca. Pick out anywhere you want to eat. We’re getting the menu. Look, that store looks like it has designer handbags. Well im using an iphone 7 with an offbrand screen i got off ebay i had to borrow money from my wifes boyfriend. The screen glitches out constantly making my yolos that much more exciting This isn't a retail day trader. Its a kid with more money in his rig than in his portfolio. I think I know you in real life...does your name start with a j? Haha I trade off an iPhone 6 with a recently cracked screen , does that make me not as cool? 🤣🤣🤣🤣🤣 Dude, that's genius. I have to see if the WeBull hotkeys will pick that up. Can't believe I didn't think of that. If not I can try to use my button-box, that might work. FUCK! relatable, just my iphone 11 and a macbook. I don’t daytrade but i like to lurk around. iPhone 7 here too. Old trusty keeps us humble. I doubt they trade with it, it’s for racing sim setups. Nice. I still have my first Gateway from 1999 I think. Still has AOL 2.5 installed on it. Agreed, that's what I was working towards, just tossing a second display on my iMac, until I ran into the issue with trades being delayed via WeBull. I can't wait nearly 20-seconds to buy or sell when I'm trying to scalp pre-market. Closer to $20K with everything, not including all my camera gear, and secondary streaming rig. I don't use it to trade though, I only used it today because WeBull wasn't trading fast enough on my main system, figured I'd give it a go, posted a picture in the process, and spent nearly half my day dealing with haters. Feel like I'm in an AOL chatroom from the nineties. This is really my racing rig. Explanation below on why I'm using it. It's an Alienware Aurora R9, 2080 Super, 36GB DDR4, 3 x BenQ EX3203R 31.5"", 1 x MSI 31.5"". Naturally everything else isn't needed, unless you're racing, or streaming. **""AND WE ARE NOT AFRAID!!!!!""** Actually just regular porn in VR. Boomer setup, actually. The boys in Bulgaria are starvin’ brother! 🤣🤣 Children in Africa is the least of OP’s problems I’m a child from Africa and we definitely would be better off if OP hadn’t bought this I can afford this setup but it makes me claustrophobic and its wayyyyy overkill, too much distraction is bad too. All you need is two screens and a laptop but whatever works for OP more power to him, but it's not envy from a lot of us saying its ridiculous. I just have socks but I do wear my gloves when trading. Stock cars. Who knew? I wanna c Do you know what’s outside? People are outside, hard pass Under desk treadmill? You got it! Lmaoo seriously , came on here to try to flex, no one really gives a fuck. An iPhone still does the job, plus You can carry it around on the go The stereotypes are hysterical. Nothing specific. I look at what's moving and scalp. I started doing better when I tossed more money in the pot. I lose more than I win, but, my wins are larger than my losses. TradingView, WeBull, OBS on the top display. Birthday suit only I hope Why would he reward himself for a bad trade? Subscribe to their OnlyFans and find out! Mirror mirror Sparco EVO. No built-in speakers. That's the lens of my camera that you might see? Speakers are mounted to the rig with speaker brackets from SIM-LAB. It's an Alienware mechanical keyboard, which I absolutely love. Nothing at all programmed on the mouse. Button-box I actually use for iRacing replay controls. Wheel all the basics; exit, talk, windshield, black-boxes, and a few other things. I've seen a lot nicer! Thanks though! Buying my gme trading setup as soon as I move in May! Extra panel of monitors 4 monitors and a new desk. Super excited! Nice setup! If you want. Message me, I'll tell you how to build it. But if you don't race, I wouldn't put it on a racing rig. agree. Even using TOS you could be fine with just one. Nokia 3210? [deleted] No need, I'm married. Jesus. Lol. Man, you got it. Dude looking at your post history its obvious you come from a lot of money 😂😭 good for you bro not hating. You have a very nice set up yes super slick. So basically you showing a picture of a setup that looks dope but is bad for working.. With WiFi.. Extremely bad for your body with that position and you don't even trade from this setup but instead you use a laptop (or what ever an iMac is) What's the point in posting this anyway I'm a developer and started day trading a few years ago. I trade more than I work these days so yes, I'd consider this my living at this point. I'm up at 2AM every day doing research prior to pre-market, which all goes out the window once 4AM rolls around. I generally scalp until around 8AM, then come back around at 10AM once things settle down a bit, and go for another few hours. Took this picture with my iPhone. That's my Sony A7III connected via capture card for streaming. I stream and record my races. I don't think I want to say. Too much hate will be thrown my way. I'll be accused of all sorts of stuff, starting with all the starving kids in Africa. Cause you know, I have not been working eighty hours a week for the last twenty years. 😏 Have VR but don't like it. Was too uncomfortable. Plus, recording and streaming is much nicer with displays, I can use all my overlays and whatnot. I'm a shit driver. Lol. Mostly Skippy for the last few seasons, all I really have time for. The twenty years was just working in general, unrelated to trading. Trading only a few years. Someone else asked this same question, answers above somewhere. I picked WeBull because I love their UI. I've used TD for investing for years but using it for trading just doesn't work. I tried TOS, I just can't do it, I don't like it at all. I also have an account with TradeStation, which I use through TradingView, but I have not gotten used to it yet. TD also has their 'Next Gen Website', which is much better than the original TD website, but, still not really for trading, it's more for investing. Not for trading, it's awful. I generally don't trade on Friday, plus, I spent half my afternoon responding to hate comments on Reddit. My safety rating is outstanding. But yes, I do. I'm working on it, been working on my trail-braking, but not easy breaking old habits. The company that sells the racing rig equipment SIM-LAB has a 'Quad-Monitor Stand' add-on, which gets attached to their 'Triple Monitor Stand' product. It's all aluminum profile, you can mount nearly anything to it. You can even just buy a regular monitor arm mount and mount it directly to the profile. You right Every time I spend money, my Dad says the same thing to me. Been going on since I was a teenager. You have to be involved in sim racing to understand. I have VR, don’t like it. It’s too much for an hour at a time. It’s something you either love or hate. Plus, more importantly, lap times are better for me this way. You lose a lot of time switching tabs. Plus, real-time news is updating every few seconds. Can’t miss anything when I’m scalping. Those look like V3 pedals to me. V2's don't have the red accents that the V3's do. **definitely going to the moon, dude is.** *-lainylay* *** ^(Commands: 'opt out', 'delete') Doth thee lodging trades with thy pedals and steering wheels? *** ^(I am a bot and I swapp'd some of thy words with Shakespeare words.) Commands: `!ShakespeareInsult`, `!fordo`, `!optout` As a new trader, it does nothing. As you get good and actually know what you’re looking at and things make sense at lighting fast pace, yeah it’s a big difference. Hi curious what they keyboard is on, I'm Dad! :) Somewhere in this mess of comments. Short story, Alienware Aurora R9, 2080 Super, 3 x BenQ 31.5"", 1 x MSI 31.5"", and that's pretty much it outside of the racing gear. This reminds me of Deb from Dexter when she used to say 'Christ on a Cracker!'. Then hither's me w/ mine own laptop and mine own $40 profit. I'm still very much new though *** ^(I am a bot and I swapp'd some of thy words with Shakespeare words.) Commands: `!ShakespeareInsult`, `!fordo`, `!optout` Uh, shitting? Chair? Bro that's a Sparco that's like 2 grand alone. [Here's my battle/trading station. ](https://imgur.com/gallery/mbICCdZ) Same A Nokia flip? Im 500% on my phone too You should try VR Experience with double bass drums will help a lot for scalping. Foot on the gas > slap the ask that is fucking genius Plus the wheel to select and clutch for options Lmao, I saw that too and I was like, ""ok, buying and selling with pedals would be pretty nifty"" I use phone and a small laptop, works fine but no doubt if I win lotto or that nigerian prince comes through im buying a rig like that. What do the kids say...so jelly? LMAO!!! *EOD trading bell rings* Me : smiling😃 My portfolio : what are you smiling for? Me : Dude I ALMOST had you😄 My portfolio : You almost had me? You never had me - you never had your gainz... Granny trading, not double downin’ like you should. You're lucky that hundred calls of MU didn't blow the YOY on the Roth IRA! You almost had me? My beanie baby collection : You Tell him stock portfolio! Get out of here My portfolio : Now, me and the mad scientist got to rip apart the gainz ... and replace the expired OTM calls you fried. [closes TOS] My portfolio : Ask any trader. Any real trader. It don't matter if you win by a point or a hundred points. Winning's winning. [Crowd cheers in agreement Now this is an underrated comment if I ever saw one Boom boom tish Nice. If you ain’t first you’re last Lmao I thought you were going to trade while you take a shit in the bathroom. That's all that matters! Pigeons have teeth? ooo, did you say dental. you hiring i can fit in a tree Edit: thanks for the award man Do not fuck with the squirrels Morty! https://m.youtube.com/watch?v=7w-YQwMOxfk All you need is a good laptop. Spend about $700-$1200 and you will have all you need. DENTAL PLAN!!!! ...Lisa needs braces DENTAL PLAN!!!! dental premiums are outrageous on squirrells Are you suggesting an 5oz bird could carry a 1lb box of crayons? You should prevent your monitors from being occupied when it's possible it can become crunch time! Think or swim. Hands down the best commission free platform. Even their web based and mobile platforms are good. I will mention if you trade OTCs they will charge 6.95 per trade. I’m with this guy. Between trying to use screeners, charts on websites and my broker it’s a nightmare to navigate quickly Charting on tradingview is pretty sweet but I don't use it for trading. It can hook up with a bunch of brokers by the sounds of it, I can't speak on the integration iPhone 11 Bro we're all retail traders by definition. I'm not throwing shade at you. You certainly not an institutional trader Every 2in turned right buys 100 shares long. Brakes to flatten position. Left to reverse and/or short. Accelerator just makes a ""vroom"" sound. Clutch in and shift selects the amount of stocks you want to action in 100s (1st gear 100, 6th 600), gas puts a buy order on the books and the breaks a sell order in the amount of the current gear. Reverse will reverse your position, pulling the E-brake flattens your position, turning the wheel scrolls through various order types. Search on reddit. I remember some guys did it already Me: maps HOTAS eject button to ‘instant dump all sell’ script. Can you set up webull or any other platforms so that you can hotkey ""buy"" or ""sell"" and it already knows you want to enter a position worth 20K and buy at ask/sell at bid, or it already knows you mean sell all the shares you have? WF you have to manually select margin vs cash, type in how many shares you want to sell, select limit vs market, select day vs good til cancelled, and for securities under $5 you have to use a limit price no matter what. Then after all this you hit preview and only then can you hit submit. Fortunately the trade itself usually executes instantly once you submit it (provided your limit price is on the right side of bid/ask) Upshift- buy, downshift-sell, breaks-sell GME shares(backstory, it is broken), and gas to close all positions. Same here. iPhone SE2 here Teach me to trade on an Original Nintendo and I’ve got you beat! Commodore 64 300baud modem 12” b/w tv. How many disks do you still have? What platform are you using, if you’re not using Webull? Just curious. I still see Webull on one of the screens Your Webull trades are delayed? ASL So what I learned just now is never, ever post rig porn here. Thats kind of a relief, I wondered for a second if this was just the standard setup and thinking I had such a long way to go 🤣 Myspace Pretty bad ass racing rig! I saw the foot pedals and wondered if that's how you place orders 😆 Do you take chemical substances while racing in that time machine you are trying to pass off as a gaming computer? I mean, I definitely would. Is the rig itself custom? I’m looking to build something similar for a flight sim. 8020 gang! 2080 noob A man of culture. Who will think of the hedge funds! It's an expensive-but-fairly-normal sim racing rig that he threw up some charts on (triple monitors for driving, and a 4th on top to do desktop stuff). I'm sure he doesn't really use it like this for trading. THIS is the way! Love just socks on pedal, I feel like I can trail brake a bit more accurately The only ""Outside"" I get is delivering packages in Death Stranding on my 65"" TV. How's the temperature in your mom's basement? Comfortable down there? [deleted] How much would you put in a trade for example ? I started with 5 k, and now trying to put in 10 k per trade so I can see either some profit or loss Also was wondering do you only day trade or have some long term investments too Brain too smooth Oh Okay, Thanks for the info. Awesome ..-an yes not a racing set up more stand an sit motorized chair with desk Don't listen to this dude... It's fuckin awesome. You should post it on r/homecockpits my dude. I 'come' from money? That's funny. Dude doesn’t know what he’s doing. I would just ignore him Just curious, what would be a good position / setup for the body? To read comments from haters like you? Jeez when do u go to sleep? What sites do you do research on? Nice one! Cheers So you’re gonna let internet haters influence what you say or won’t say? Who cares about them, if they talk shit they’re jealous. I like to know numbers Ahh gotcha I felt the ui was better at webull but a lot of people say TOS is good but hard to get used to only at first. I’ll try it out and see if I need that Webull transfer. Thanks for your thoughts Well glad we are in America, cause I hard disagree. I'd kick back and learn and research everything, my two screens can't handle all my thoughts at once. TC cut helps me a lot, doesn't let me turn slip into slide so easily. Even when you're in a groove it's hard to be consistent. We need to do something new on NIO stock means new applying new strategies what’s you guys think You should read or listen to the book [Rich Dad, Poor Dad](https://www.youtube.com/watch?v=I9EKN06V6A4)... Think about assets. Oh oops, I didn’t even see the racing controls. I thought you just got a racing seat and made it for stock investment uses only hahaha. If you’re using it for racing sims then that’s just flat out amazing :) You know what? Fair enough, that's reasonable. Godspeed and good luck to you! I think a better answer is that yes, you can probably fit multiple charts and real-time news on 2 screens or even just one, but this is a gaming rig you posted up for fun. True, hard to see the bolts of the front plate without zooming to the max. Then it's fine. I ended up pretty upset with V2s... Had like three sets(due to work) and in all of them the sensors ended up spiking and it was undrivable. I hate you fake Yoda Bot, my friend the original Yoda Bot, u/YodaOnReddit-Bot, got suspended and you tried to take his place but I won't stop fighting. -On behalf of Fonzi_13 Good call!! It’s whatever the new iPhone is, 12 I think? I only trade with $500 of my own money. If I exceed $1000 I take profits, I took out $375 this week and I’m sitting at $1200 give it take, $700 in stocks and options and the rest is cash. I will likely take the other $200 out to buy some weed while the dispo has 20% off concentrates this weekend lol. I’m not a professional, I don’t even know how the stock market works in all honesty. $500 i can lose overnight and not give a shit, so that’s the maximum I will gamble with lol. Not as too as yo mama *** ^I ^am ^a ^bot. ^Downvote ^to ^remove. ^[PM](https://www.reddit.com/message/compose/?to=YoMommaJokeBot) ^me ^if ^there's ^anything ^for ^me ^to ^know! Lol Ask, Grass, or cash. Nobody rides for free. I mean, what is the point of a cel phone if not that? What was your P/L for last year? https://twitter.com/fullfrontalsamb/status/1225263420779487232?s=21 I should say I view and trade with my two monitors, but keep my app open on phone and tablet too as I’m in a few brokerages right now trying to figure out my favorite option for fully committing. And charge you for trading options. WeBull options are free... WeBull 100%, has it all in one place. Thought you were. All good, my bad. Handbrake for dump all positions You have never lived until you traded on a Tracfone. An apple that fell out of a tree That's what I use, WeBull. That was my main reason for posting, to talk about trade execution times, to try and sort out why it took so long on my iMac, and instant on my racing rig. Then this whole thing went sideways. 🤣 In the meantime though, I figured out what the problem was on my iMac, so it all kinda worked out. It's explained in the mess of comments. I use Chrome on my iMac and the WeBull web UI. Once I'd hit 'confirm' on a trade, it would take roughly fifteen through eighteen seconds to appear in my 'positions' list. That was really screwing things up for me. With that, I figured I'd try my racing rig to see how it worked out. That's Windows and I was using Edge and everything would appear in 'positions' instantly. At some point yesterday, I figured I'd try Safari on my iMac, and sure enough, it was instant as well. The issue turned out to be the WeBull UI using Chrome on MacOS. 12 yes here Gas for buy, brake for sell. Yes, trying to 'pass' off as one. (In my coolest voice possible) “Sam Bridges must brave a world utterly transformed by the Death Stranding. Carrying the disconnected remnants of our future in his hands, he embarks on a journey to reconnect the shattered world one step at a time.” Lmao projecting much ? He made a simple post and ppl started shitting on him lol. He is just responding That depends. Depends how early I caught it mostly. Example, if something is up 5% already, I'm likely 5% too late. My main thing is the low so I don't risk losing too much. Example, XYZ's lowest was $1.00 in recent days and weeks, not likely to go below that. If it's at $1.15, went as high as $2.00, I'd buy a few thousand shares with a VERY strict stop. I am by far a skilled trader. I'm just doing what has been working for me and the days it doesn't work, I don't lose all that much. It's not an insult. On the contrary I meant it as a compliment. Your family are real OGs and manged to set you up for a dope life. That's literally what everyone in this planet is trying to do but 99% fail. Sorry if I offended you, wasn't my intention. Yeah I figured that out after his answer as well. Would be a waste to argue with people like that I'm usually standing, that's the best position in general I just bought a add on for my desk so that I can make it a standing desk when ever I like Standing has various benefits for you, we are sitting way to much anyway. Just Google benefits of working standing Dead. Can’t get any worst. I down-voted myself too. Thanks! I sleep plenty, like six-hours a night, and some extra on weekends. I'm just an early-riser, always been that way. That's what got me involved in trading. I'd wake up so early, finish all my work, and sit around doing nothing until the sun came up. I'd end up in some weird YouTube holes watching videos of dogs talking. I just follow the 'news' for the most part. Mostly health sector recently, anything 'COVID' related seems to do pretty well. With the rig and everything else, upwards of $25K. I think it's because I'm so used to racing in it, I just can't get a feel for it when trading. If I made some adjustments, it would be much better, but it's a bit of a pain to adjust on-the-fly. not a professional.. could've fooled me.. Its not gamling my guy, big mistake Yes take profits for pot They aren’t all winners are they yomamma? Cash, ass, or grass is what I always used lol I know hahaha Phone trader here. 78% for year ending today. But I only got started in December. Before that I was negative on positions that had been just sitting there for years. That's what I would like to know. Oooh. I can see that clogging the works for sure! Do any brokerages allow for hotkey buy/sell and know to use predetermined position sizes/to use bid/ask prices/to sell all owned shares at once? Nah bro it's a dope setup I'm jelly beans. 🙏🏼🌸 Hand brake evacuates all positions and injects whiskey directly to the brain, and penis of the user. The result is a trading and sim driving superhuman. pffft, i manage my portfolio using smoke signals from the deep wilderness What was the issue with Mac? I guess I’m still curious, since I’m on a Mac, also. (new trader) Why use webull to scalp? They reroute the order. Would not a direct access broker be much better? Such as IB? You're scalping on WeBull? I tried on robinhood but it takes way to long to send orders and their execution time sucks Super cool. Didn't answer my question. 😭 I see now, thanks for sharing brother. By the way I must say incredible trading setting 🤩 I aspire to have a similar one soon 🙏 Doesn't seem that way with some of the comments posted. Seems like people think I'm trying to show off, which really was not my intention. Having a 'rig' is popular in the sim community, I've seen some cool trading rigs on YouTube, just wanted to see what some of you had, that's it. With people like that? LOL. Dude, you're a fucking loser. You probably have your pants around your ankles right now. Go suck a dick. I appreciate the reply and will look into it, thank you! Wait, dogs can talk? Sick dude. I like the setup. Now start helping African children Literally hard now Ah, gotcha. I can understand that. True, but to be fair it did say they don't know what they're doing. If you don't know what you're doing then it is sort of a gamble. I assume they really mean that they are willing to lose 500 to have fun with it and to take the chance to learn how it really works. For a lot of people, that works better than just reading and watching videos and even paper trading. Options trading? I think so. I’m one of the people jumping ship from Robinhood it’s holding all my GME while the rest have my normal plays. Currently I have ETRADE, WeBull, and fidelity. I want to love fidelity but it’s just too much for me and the pro trader UI runs like shit on my MacBook Pro. I absolutely love WeBulls UI, but from my research they seem to be frowned upon for various reasons. ETRADE seems to be the compromise so far and I believe you can hotkey with their power pro app too. Open to recommendations and insight if you have any! Leading top scientists to say “My God, what have we done?” I was using Chrome on my iMac. Aside from the obvious hardware differences between my iMac and Alienware, I realized I'm using Edge on Windows, Chrome on my iMac. With that, I figured I'd try WeBull on Safari on my iMac, and trades are instant, no delay at all. Really odd because in general, Chrome on my iMac is much faster than Safari, especially when managing videos on YouTube. Good to know. iMac here. I think everyone re-routes a certain amount of their orders. There was a chart somewhere. some more than others, of course. Fidelity? Nice setup dawg. You got a couple ppl real jelly in here and it shows lol Lmao this mf is like Lester from GTA, setting up heists and shit from his computer 😂🤌 It's cause you have a super fucking awesome dream rig that basically nobody can afford. It triggers a lot of people who are poor and won't be able to get that rig until their 70s. Thinks that's why people are mostly jelly beans bro that's it. I mean I admit I'm jelly beans. I wish I had that rig 100%. Yeah... Exactly people like that :-) I don’t even know how to do that. I just started. WF has instant executions but a few, er, i'll call them ""homeowner"" limitations: - cant short most penny stocks without calling on the phone - have to preview before submitting - must use limit price when security is below $5 - sometimes cant buy stocks, such as SNDL - my account cant buy options but that may be a phone call away (can still see them) So, you don’t use the Webull app that you can download from their website? Trading through a web browser? Chrome is a data collection tool for google. It’s free because you are the product google is delivering to its advertisers when they buy an ad to serve to you on google platforms such as YouTube. They prioritize data collection ahead of user experience. Good find and good decision to move to a browser that isn’t a snake in the grass. If they do not charge commissions they re-route. I know, sorry I posted. It’s not too expensive (depending on how much you use it and enjoy it). DD2 is 1.5k Shifter like 250 F1 wheel like 350 P1-X like 700 And this guy’s monitor set up is nice, but always inferior to VR. Definitely expensive, I have exactly the same set up other than the seat, but it’s worth it right if you use it tonnes Some sim rigs are far far in excess of the cost of this one Interesting thank you. Stupid question but what is WF? No, I don't do any trading whatsoever from a mobile or tablet. I feel like I can't see enough or move quick enough, makes me too nervous. Ehhh fuck em Of course you're right. Haha I have to admit I don't really understand what you are talking about 🙈🙈 could you please explain it to me? What's a F1 wheel and a P1-X? Sounds pretty complicated l 🤔 Wells Fargo Must be a pain to cart that entire rig into the bathroom with you Oh, I completely agree with you on the iOS apps. I am talking about the Webull app for Mac OS. You can download their app for windows pc How do you avoid wash sales? Do you ignore? Or avoid positions you’ve traded for 30 days? Haha no worries at all, I was talking about the racing simulator part of the system. Basically simlab p1-x is the product name of the metal frame of the simulator itself. The F1 wheel stands for a formula 1 wheel rim, mimicking those you find in real F1 cars (an open wheel racing series). Shifter is the gearstick thing. DD2 is the name of the wheel base, which basically is the big cube attached to the F1 rim. This is the most important part and provide the power and force feedback, so you feel the virtual track through your wheel. Tbf you are right, it is a very expensive set up (but worth it if you get lots of time in it). You can get some very good sim rigs which are much cheaper which can provide most of the performance though! If you are interested in sim racing specifically, check out r/simracing and r/simrigs Thought so but wasn’t aware they had a trading platform. Appreciate the input I tried that once, didn't like it at all. I think I'm just so used to the WeBull web UI, it's hard for me to switch. Partly superstitious too. Sometimes when something is working, I don't like to switch. Ohhh ok that makes a lot of sense. Holy shit that's a whole other rabbit hole for me to go down. Thank you for explaining it I'm going to look into it! That’s fair. Again - just curious. I don’t see many Mac users on here. Ive recently been using the desktop app as well - one thing I can’t find is the asset allocation widget for ETFs. It’s easily accessible via mobile, but it becomes super annoying to pull out my iPhone every time I want to check that. Have you found it on the desktop software? No worries, it’s slippery slope, but a hobby you can get into for a few hundred! Don’t feel obliged to go all in I'm on a mac and this specific thread had me nervous, haha. It's interesting that OP uses the web app on Safari. I should actually look at it, I'm so used to using Webull's app. I just opened the MacOS WeBull desktop app for the first time in months, went through a quick update, and honestly, I think I'll be switching to that. I have to see the trade execution time and so long as it's instant like WeBull web UI on Safari, I will stick with the desktop app. The only thing that really bugs me with the dark theme whether desktop app or web UI, is the highlighting around the widgets." How To Become a Consistent Profitable Trader (My Favourite Set Up),5137,https://www.reddit.com/r/Daytrading/comments/lag8zs/how_to_become_a_consistent_profitable_trader_my/,"Any resources you'd recommend for more reading and training on this method? Surely if holders are in the green and think an asset is over valued they might cash out before it drops back down, adding selling pressure. I have been slowly trying to learn more about day trading over the past several months, and man, this was the most concise, simplified write up I have seen. Thank you! Just a quick question, it sounds like you hold positions overnight in these situations? I thought that wasn't common due to potential problems outside if trading hours? Obviously, as you said, you should analyze and try to improve upon strategies. Thanks again!! If you didn’t understand keep rereading over and over til it sticks. His explanation is simple I think you can search at finviz for near ATH. I'll have to check when I'm on my computer. So you're simply just trading a break out? Thank you for this, as a fairly new investor and new follower of this reddit I’m looking for all the solid advice I can get Yes, this is a good method, and is also known as a base breakout. ""The longer the base, the higher in space"" What I'm curious to know is how you handle false breakouts. Stock goes up, gets met with huge resistance and comes back down. I find it actually happens quite often. How do you navigate this? Sorry I've been so busy recently but I haven't forgot about you all and I'm just working on the update now 🙌 Well put. That's a really interesting approach and your thesis is very solid. Keep at it man! What would you say is your average win/lose trade ratio? Not $’s, just trades. How does this setup play with day trading? Sorry if previously answered. Hi billy mays here You should try Fibonacci retracements to find entry and exit points. Works well with this strategy This is amazing thank you. Any advice for resources to learn more about this for a noob? This is the type of content we need floating around the trading communities. Great right up! This wheel was invented (or at least heavily promoted) by Bill O'Neill at Investors Business Daily. CANSLIM. His classic book is How To Make Money In Stocks. Nice discussion and details anyway. What does the volume and RSI have to be at for you to like it? What’s your instagram For everyone stumbling upon this recently, including myself, just look at OPs post history and compare his suggestions to what happened to the stocks in the days following. This guy knows his shit and I’m actually struggling to find a bad example. It’s pretty remarkable. I just wish I found this 5 days ago before $FSR 😂 Nice work dude - keep it up. We appreciate the help! Thanks for the explanation on your set-up. If you have a Twitter account, I would definitely follow. CN you please share more on your TradingView screener settings I have been toying with different settings in the finviz screener recently trying to find consolidation for any breakout potential. It seems as though you could set the 52 week high/low to \_\_\_% below 52 week high to catch the stocks potentially consolidating for this very breakout. You can also set it to screen individual sectors. The relative volume could be set at ""over 2"" with a current volume over \_\_\_\_\_%. Just kind of thinking out loud here.... I don't know, but I do like this post. Thanks. Nice write up. It would be great if you showed some of these potential breakouts on a chart so we can get used to what it looks like. This was an extremely insightful read. Thank you sincerely from someone with barely any trading experience and just dipped my toes in during this whole GME thing. Hope to see your watchlists on here more often! Thanks for the info. Very helpful for a beginner like me. My question is: once you've creating a list based on volume, RSI and proximity to ATH, how do you parce out the stocks worth taking a risk on? Or how do you judge how big a risk a stock is worth? couldn’t have said it better myself👏🏼 Do you ever do options in a similar pattern during consolidation? If so what time(s) frame(s) do you typically use and how much higher a strike price than the current ATH (10 in this example to avoid confusion)? Thanks for the post! I’m brand new to this but is there a way to easily screen for ATH on Webull? I tried googling to no avail This simple yet an amazing write up, I'm a novice myself and I want to keep improving my game. I know this is much more complex if broken down into, but man this is cool! I also followed ur IG broskie. [removed] When the stock is still under the ath are yoy just buying and setting a stop and waiting for a move ? Or are you watching the level 2 for the perfect moment to get in ? Do you have a stock selection criteria as far as market cap or float ? What is your average holding time ? What is your criteria to exit the trade fully in a good situation and in a bad one ? This is exactly the set up strategy I am currently programming with my algo. What % stop loss do you typically set from the starter position? And if I read one of your other responses correctly, your target gain is 10% or better based on this setup...what is your success rate with that and how long do you hold each position on average? I often see tickers pop up on my screener (within 0-5% under ATH, among other filters) due to a recent catalyst to bring them near ATH, but fail to breakout. The “everyone in the green” do have a reason to sell: to lock in profits. This entire analysis is predicated on a sloppy thesis. Buying overbought securities is risky. If you’re just hoping to ride the last little sputter of momentum, take a moment to consider Fibonaccis and stochastics before pulling the trigger. Is there room to climb, or are you buying at the top. This is freaking amazing. Comprehensive as all hell - and from the ath breakouts I have noticed in my short time observing markets, all of this does truly seem to be the case! Thank you for sharing Thank you for your insight and rational explanation! Awesome tips! I am looking forward to trying to master this method! Found you on insta to follow you as well! thank you for sharing your knowledge, new trader here love to learn more What is your instagram? Now in the green = no reason to sell?? How about to make money? Lol This is far and away the most valuable trading advice I've yet seen on Reddit. Will be studying this for some time to come. THANK YOU. Yes, please post your watch list here! “We move our stop loss under PM support and go to focus on the next set up. The same set up. Something we can measure. Something we take day in day out.” What is a stop loss under PM support? Great write-up, thank you. But this is swing trading and not daytrading. How do you compare this approach to inrtraday scalping? The problem I personally have with the latter is the fact that lots of money needs to be pain in both commissions and live market data ($150 DAS trader+Trade Ideas for a good scanner around the same amount per month). Not to mention the immense stress during the day, all just to be able to sleep well at night knowing you don't have any open positions. I wanna know what the catch is that so many people take this appraoch and not what you mentioned (swing). Perfect strategy 👏 this is great, thank you Very insightful. Do you day trade or swing trade? If day trading, what timeframe do you use? What kinds of returns do you see employing this strategy? great post I learned a lot. I’m quite new but I was wondering how you know where the PM support is to set the stop loss? Does this work inversely? I prefer to trade CFD's on margin. When you say you buy stock when it’s near to its ATH, do you also check it’s recent performance as well? Because a dip could be better for profit margins and allows you to pull out at a lower value if all goes south, but there’s no guarantee it’s going to break its ATH, and could even crash down. What about all time lows? Thank you very much. 🙌 So are you just saying you buy when it consolidates near ATH? it cant be that easy... This is a good post, thanks. Just wanted to have your opinion about bag holding for years and then getting into ATH. Wont that trigger sell behaviour for those stuck with the stock for years and just waiting to get out of it? This is so helpful and easy to understand. Thank you! Thank you for this post, a very interesting concept. Following your IG, looking forward to seeing you at work! Looks like a great post. Saved to read later Neat I appreciated your write up Do you use a tool to scan for these stocks approaching ATH or do you do it manually? Very helpful and informative. Thanks for the post! Thank you so much for this. Following on insta and Twitter Jared from LiveTraders would say: TRADE THE VOID This is very interesting and makes sense. Thanks very much for sharing! Would like to see a list of your watchlist to get a feel for the companies you are interested in? All the best to you. That is an awesome post, I'm following you now. Do you think this method holds true for btc? How much was your starting capital for trading full time? Cheers. This silver propaganda machine isn’t working. Silver is already starting to retreat and will continue to do so. Want the next big money maker? Buy ZSL, it is a leveraged 2x short (bear) ETF. As for contracts... buy HL, MUX or any mining company puts (either for late Feb or March). Get it in when the market opens & you’ll make 5x easy Honestly they make this shit to easy. Enjoy making money boys I started a couple of days ago trading with etoro, and man oh man, in etoro you can't have profits with this techine, you are forced to buy at higger prices than what the current market price is. I want to move to another platform. I already use TradinView, do any of you use the TradingPanel from TradingView + OANDA, Gemini, TradeStation etc. Can you give me a review ? This is amazing. I am new to all this and it's refreshing to read a simple, measurable yet effective approach. I do have some questions for you though (using your $STONKS example): 1. A year ago STONK went up to its ATH @ 10.00/share but went down after and it took almost 12 months to get back to the $10 range. What are the signals that would raise a red flag for a stock hitting its ATH but then plummeting down in the future? In other words, what gives you confidence (and how do you measure it) that STONK will go up now during its second ATH and that some 'bad news' will not make the stock sink again? 2. Once you get in with your starting position ($500 in your example) how do decide when to buy in with the rest of your capital. You mention a press release as the catalyst. Is this always the case? Can there be other 'catalysts'? Do you rely just on the news/catalysts itself or you wait that the catalysts somehow is reflected in the charts? If so, what are the things (signals/indicators) you look for to confirm your buy-in? 3. Similarly to the above question, when do you know when to get out? Is it simply a % profit target you set in the beginning or there are other things you look for? Then I have some more general questions too: \- What is your average holding period? I understand you don't day trade. Would you avoid investing in something that you think won't give you a return in, lets say less than 4 weeks (or any other timeframe for that matter)? \- What are your main parameters to shortlists stocks for your Watchlists once you scroll through them? ​ Sorry for the long post and thank you again for sharing your strategy, you are amazing! What numbers do you generally look for in the volume profile and RSI? Do you also still do the research and DD for the stocks you trade with in this manner, or do you purely just go by the numbers and graphs? This might be a stupid question but: >I use trading view, I create a list of sectors such as EVs, Solar, Tech, AI etc etc and I scan through each day. Literally just flick through. Is the stock near it’s ATH? If not, I go to the next and the next. how do you determine that it's near an all time high from the list? Do you just open the chart for each one and look through them or is there a way to know from the information given on the tradingview lists? Your post was just a few days ago and is already the most liked post ever on this sub mate, congrats! I really loved the explanation, kind of opened my eyes regarding the fact that i am in fact just completely gambling and don´t really know what i am doing apart from hoping the stock goes in a certain direction. I love this! Just read and digested the entire post, and took notes. I obsess about a number shown in Moneyball (if you haven’t seen it, I suggest you watch it. Exactly what this is all about) where the players with the most potential had the highest on base percentage. This is it. Such a simple, yet elegant solution to my burning question. To OP: still reading through this, but wanted to ask--Does this work for penny stocks or lower priced stocks? ​ thanks I am very very new to trading, literally decided to get into it the day before GME skyrocketed so I obviously got caught in the hype and lost half of my money. I realized what I did was gambling and since then I've tried to study and try different set ups. In the last week, I noticed that I am emotionally bag holding and keep losing more and more with no profit! I am so thankful I found this post before I lost all haha I read your post last night and spent a good time searching and coming up with a list of about 10. I am currently up 2% and it keeps going! I feel so much more confident with tighter risk too. I just set stop limit sell and am going to leave it until 10min before close. Thank you so much for sharing your wisdom! I would love to follow that on Instagram. I made a couple thousand this past week and want to try strats people share on here. This is by far the most involved I've seen and sounds fun Thanks a lot, sounds like a solid strategy :) I forgot to ask, how often do you trade with this strategy? Once a week or less? This guy is a hf lackey trying to distract from gme and amc. All his posts are about silver and other shorted stocks that aren’t gme and amc. 44 day account first post in December suspicious user name. Stonkgang LMAOOO. buy low, sell high. i have a watchlist of tickers i've done background check on. i sell when the price is high, then scan through my list and find the lowest performer and review the trend. if it's just a dip i buy that. u/Stonkgang_ Can you share how you find these stocks? Every screener I have seen will either tell me that a stock has hit its ATH, or it's within x% of the 52-week high. What does ATH mean? thanks alot for this. [deleted] [deleted] Black swan events are accounted for how? I’ve been trading for 12 years and ever have used ATH set ups. That’s typically where I look to short for the fast <10 min trade...However, thanks for opening my eyes to the other side of this trade. I’m going to use this, as I spotted this in multiple stocks(GS, TSLA, etc) recently that I kind of kicked myself for not going long. Thank you for your insight. RemindMe! Next week. Remind me Just started Investing Friday. Spent the last few months learning the technical lingo and concepts of investing and still didn’t get it until I actually started doing it (I’m one of those FOMO buyers due to last weeks events) but this is a godsend for someone like me! I want to learn more and try this out but one thing I don’t understand is what do you mean by (move our stop loss)? !RemindMe 2 days So just to make sure my non English ass understood it all, basically buy around the breakout as, more likely to keep up {people here for a long time having rode the previous atls will hold until profits thus kinda protecting from a serious dip beside consolidation}? Thus, the striking point is actually being able to differentiate between a company about to break out and Fomo right? Anyway, thanks for taking the time to educate people, I'm coming from an economic background so i understand the basics values and stuff but, I'm a mega noob as far as trading strats are concerned! So thanks again What do you consider good volume and RSI on a stock? Williams alligator? saving! nice post How do you know when to place your starter position? The $500 at 9.2 in your example. Also, what time do you look at your watchlist? At market open? Oh I like this article. It’s very similar to how to trade like a stock market wizard. He goes a little more in depth with reading fundamentals and volatility contraction and phases of a stock. Love it. This is my trading style for swings and I momentum breakout trade in day trading Do you look for low rsi and high volume? Or high rsi and volume? I always thought low rsi means a reversal coming. Save What’s your winning percentage and avg % gain and % loss. I trade the exacta setup for swing trading. I am at 26% win-loss. With 17% avg win and -4% avg loss. Need to work on my batting avg. This was incredible info! Thank you so much for giving us this advice. I really want to become a better day trader and have been putting in hours of research (and that has helped me as well) and this has to be among the best advice I've read. Thank you! How much average volume do you usually require to execute this type of trade? I’ve seen a lot of people not execute these daily trades on less than 1m in volume. How do you narrow the universe of stocks to consider? Is there a filter you use? Hey I’m interested in any watch list and further lessons you put out. Good breakdown! Great write up, could you expand on what exactly you are looking for in regards to volume? What time frames are you using to check for the ATH? Daily? Weekly? This is the kind of post I’m looking for. Something I can work with and learn a new skill. Thanks Could you also talk about tax strategies? How to qualify as a day trader? Should one set up a LLC to deduct expenses? Enjoyed reading this. Thanks! One of my favourite reads on trading so far. Any resources for scanning stock nearing all time highs? Awesome, thank you for all the replies! How often do you find setups like this? Especially stocks aren't usually trading at ATH most of the time. Excellent! Thanks for sharing. There is so much to learn! It's hard to know where to start. It seems there's a lot more bad information out there than good information. Thanks for sharing, this is definitely a strategy I’d like to learn more about! One question I have if you have time to answer. In your example you it took a year to reach the new ATH. Does it have to take that long? For example DraftKings hit its ATM of $63 in October and than dipped to 35ish. It is now back to $60. Would this be a similar setup to what you are talking about? I won’t be trading DraftKings, just trying to learn and see if this would be a potential setup. Thanks for your help! This is great what’s the insta account Really fantastic write up. Thank you! SPCE Brilliant and well written! Thank you for sharing your strategy and your philosophy with us! Is there an easier way to get to see ATHs? What is PM support ? It seems like if the price has stayed steady for a week or so, and maybe there will be a breakout at some point, that could be either up or down, feels like a complete coin flip? Also when reducing your position you mention “stop loss under PM support” - not sure what you mean by PM? Is that an acronym, or do you just mean support that afternoon? This is 100% bookmarked, very very useful information and I look forward to combing through other resources to support this - thanks for putting it together! Maybe a stupid question, but how do you keep track of your ‘profit taking points’ in the chart for example? If I sold 1/2 at 5% profit, and I’m also trading ie 50 more stocks, how do you keep track of your previous selling points? What’s your @? Wondering how you go about finding these momentum plays? Not sure how to structure the filters I place on scanners. Any advice helps! I’m relatively new to daytrading and am not sure where to turn to in order to learn these things. Yo man as someone who just got into stonks in general I want you to know as a newbie I was able to pretty much get what you where saying. Thank you only question is what charts work best in conjunction with this? Gonna read this again soon. Thanks a lot. Answered so many questions that other sources only teased at. Thanks for sharing, very insightful. Was wondering What proportion of the money in your trading account would you put on a single trade ? This is great, thanks. Do you set up RSI in a screener? I have never screened for it before, but I imagine you would set it at like RSI from Close below 25? And then set a minimum volume? Thanks for the write up, was a good read. Very simple explanation and simple set up, if you control your emotions correctly like you state. Just to confirm, I would assume you are referring to 52 week ATH’s? I can't wait to see your list and see your trades. Thank you for going in depth, It sounds like a pretty reliable method. Are you able to make a living using this strategy alone or do you use several methods? Don’t most brokerage accounts have a feature that you can set so you receive an email when a particular stock on that List gets to a certain price? Thanks. Gotten lucky with day trades following random people around the net for a while but today I got Uber lucky on sava and need day trading advice. thanks for the breakdown and I know you mentioned your working on compiking a list of books to read so I look forward to that drop. Gotta make an IG account now to follow u on there lol What's your Insta? Hi there, followed your insta! I have a question on your ATH breakout strategy. You mentioned on your insta that you took a position in SKLZ waiting for a breakout. I checked the chart and it looks like it has a lot of ATH breakouts: [https://imgur.com/oTQM57J](https://imgur.com/oTQM57J) Am I ""spotting"" them correctly? Would you have entered at all of these green arrows? Also, if a stock has so many ATH breakouts, would you sell after a nice profit (say 20%) or keep on holding for more ATH breakouts. Also another question: you mentioned you missed the CCIV breakout. How can you keep an eye out for these kinds of moves, and not miss them again? Other than staring at a stock chart for 8 hours. Great post nice Great information! I like that this takes the emotion out. Just wanted to say thank you for taking the time to write this up. THANKS FOR THIS MAN! would love a follow up if it's not too much of a request! do you think you can show how to find the hot sectors and how to set up a scanner to find ATH setups? appreciate this post ! This is great thank you very much Very sorry for the noob question i'm a beginner, what are you trading? Do you buy/sell stocks? Or is it CFDs? Or something else? How do you overcome the urge to go back into a stock after you've exited feeling like you exited too soon and the stock seems to have more legs? I should know the answer, i have been burned already doing this but damn it is so tempting You really did a nice job here. It would take me 30 pages to write what you wrote in 1.5pgs. 😂 What’s your insta, op? Also thank you for the information. I knew some of this but seeing it written so eloquently really help solidify it. On trading view, how can do I find the stocks which are reaching their ATHs and create a watch list for them? I would like to follow your strategy Thank you for sharing your process! RemindMe! 3 days ""day trading tips"" 2 questions. 1. What do you use to monitor the stocks? I'm using webulls desktop app right now. 2. Who do you use as a broker? RemindMe! Next week I'm a beginner, and I wish I could understand even half of this. I really want to get my technique right from the get go. How do you think this plays out for Forex? I don't have enough capital for daytrading stocks and think many beginners are the same. This is very insightful. Thank you. how do you use tradingview This was informative. Can you dm me your ig I’m looking to add more people that trade like me so I don’t scroll thru bullshit lol Thank you for this!! I’ve been trying to learn but everything is so crazy right now it’s hard to find legit help. Thank you for the wisdom! [deleted] This thread should be stickied So what about a 52w high, would you apply the same set up? That is a lotttt of words to tell us to buy at all time highs. this was so clear I’m a little bit confused and if anyone could elaborate it would be extremely helpful. So for this method, would you always have to find stocks that dropped in price and then appears to be back at its previous all time high? And this time around, you’re betting it will reach a newer all time high? Saved I’m guessing same can be applied to FX? Whats your IG? Sounds good 👍🏼😌 I want in!!! Stupid question, what you say ATH do you mean literally all time? Past 6 months? Have you come out with a video or post about how you go about finding these? Or you just click a sector and just look at everything. Also, in your post are you always banking on a catalyst or just in that example. hey what do you use RSI for if you don't mind me asking? Heard of some people using it in some wacky ass ways on this sub so you never know Thanks for sharing. 💎👋🦍🚀🌙 If I understand this correctly, your advice should only be applied to stocks that we've owned for one year? Thanks for sharing! As part of strategy looks like is important not to enter when is already at a NEW all time higher but a bit before and be ready to enter. Looking for some filter at market screener like Finviz, any advice? Would you say this is favorable for larger cap companies I.e Amazon brk.b aapl tsla? Very useful and comprehensive strategy. As others have mentioned, I am new to investing as well. Started a couple of months ago with a small cash account and I haven't busted it yet. How do you decide your TP level, and how does that factor into when to invest the remaining 75% in your example or does it? When placing the SL at PM support levels, does it make sense to use a trailing stop $? Thanks for this mate - really helpful. Do you trade shares or options? This helpful, i am a beginner and this helps a lot. Thanks for the great post :) Ive got a question of ""shooting stars"" on a chart. Are you saying follow the ath at day close or intraday? I'm looking at a year of Apha and there's one day we're it jumped. Do you include that in your analysis or discount it? Thank you in advance. 🏝🥥🥥🥥 What I didn't understand: How do we as traders recognise the stock is setting up for an ATH breakout ? Very interesting setup I’ll research it, any articles or books you recommend as a starting point? This is definitely a paradigm shift for me. Ive only been soing this for some months and have had success with my ideas but, since market has shifted suddenly my strategy doesnt work. ""As a professional trader you need to trade strategies not ideas"". No kidding. The premise I used was a background in investing and simply waiting on the sideline for when you absolutely knew things werent sitting right, then betting against it. It doesnt necessarily have anything to do w fundamentals either(failing to move above a 200 DMA)I adopted this because I started with a small account and knew 100-200$ trades werent going to sit well. It doesnt take a genius to know long puts on meme stocks is a very high likelihood to succeed. But now that a lot of retail investors arent chasing these stocks anymore it is difficult to suddenly come up with ""new ideas"". Definitely going to be looking to reallocate funds. Thank you! Is it correct that 75% of the breakouts fail ? What RSI figure do you want to see? High mid or low Thank you so much for this! The sentiment of diamond hands, apes, and moon are not really working for me. I caught a few rides up, then believed the hype of holding forever. I think there is a time to hold and a time to sell. I've seen about $20K slip through my hands being a diamond handed....loser. :-) I also lost tens of thousands at the beginning of 2020 in my 401K and private account. Your strategy, though takes time and patience, looks incredibly logical. I'm not a day trader, but I do want to increase my earnings, and take advantage of some of the swings. We would all love to see more of your strategies, ideas, and trades. Obviously, we would not take or give financial advice, but I am certainly following you and looking forward to your next post. So after all this, it appears $spce may be getting setup. 38% gain on Friday, and up 4% PM. AWESOME!!!!!! THANK YOU. This strategy would seem to be fine for a swing trader as well. Good work. You made a very good scenario, but it better to practice this method with someone who already have experience, rather then trying it yourself. Bought* not brought Anyone truly wanting to become a trader, I have a manual for $100. Full in depth guide into price action and reading charts. It's the same manual that helped me go full time. Dm me or reply for more info. Save This explanation kind of sounds like SoFi right now… I see consolidation at 19-20. I see a near term catalyst such as bank charter and Q3. Maybe a push up to 25…. Thoughts? Wow,thank you What's your insta Wow great trading advice. Followed Well put. Commenting to find this later. Just saw your post in WSB, clicked on your profile, and found this write up. I like this idea a lot. Thanks OP! Love the info! Very informative Thank you Question, are we looking at all time high 52 weeks or for the day ? When looking for new stocks to trade ? Hey, I am compiling a list and will update the post with it. I had no idea this post would get so much interest so bare with me and I'll explain in a lot more detail. Thank you for all the love. Second this one! I would love to get a recommendation for a good book and/or a series of articles. My 2 cents yet again. Just trade a handful of stocks over and over and over again. Forget the rest. I would also love to read more on this! Following. Great question. keen on these recs too A very small percentage do. However most people who hold through the consolidation just below ATH have no intention of selling the moment it enters price discovery aka breaks ATH For years I never held positions over night. Due to the potential of a gap down, manipulation etc. However as we’re trading break outs, if the trade “works” the closing price will usually be quite far away from your entry. For me I like to have a 10% buffer from my entry. If 10 minutes before the close the stock has only moved 3 to 4% I’ll take loads off the table. I hope that makes sense. One more thing is never, ever hold BIO techs over night. Those are the ones prone to massive gap downs on bad news so stay away. I am so glad it helped! Most things in trading we tend to over complicate. The hardest part is controlling your emotions not the set up! Best of luck with your trading journey. just make sure to trade on a platform that allows you to trade the full range of market hours (IE Webull) Thank you Gater! I tried to make it as digestible as possible! I believe you can but I would definitely recommend building out your own lists. The reason being you’ll start to get an “idea” of how the stock works. I also only focus on momentum stocks and hot sectors. Reason being is it’s another thing in your favour. Always thought it was just 52 week? They have an ATH scan? Mind replying when confirmed? Your phone IS a Computer braaaa Yeah I'd like to know too. Did you happen to find out? Exactly, it’s literally that simple! You’re welcome and best of luck with your trading journey. False breakouts are part of the losses. Once a stock begins to breakout I usually take risk off I.e. moving my stop to entry or simply moving it just beneath. Thank you! Thank you! As of the past 12 months it’s 71% Average win to loss size is 8 to 1 It's the same however you'd obviously not be holding over night. I totally understand people not wanting to have the anxiety of after hours and pre market haha. Yet in all seriousness this is why it's important the closing price is a good percentage away from your entry to act as a buffer. Got any blow???? Thanks man, I tried them but just couldn't get along. I literally hardly use indicators anymore but I know some pro's who swear by the fib. Second this Thank you and I'm glad it helped. All the best with your trading. Nice, never heard of that but I'll take a read thank you Thankfully their instagram and reddit usernames are identical, so it was pretty easy to find: https://instagram.com/stonkgang_?igshid=44xg6tlpbckp I would like to know too! I don't use a screener. I literally build out lists on trading view of hot stocks and then flick through each morning. I only pay attention to the daily time frame. If it looks ready to break out then I'll mark it and look into it further. Interested in this too Hey Man, I'd highly recommend building a big arse watchlist of hot names. Start with like 50 and keep growing it. Trust me once you have like over 500 names on watch you can still flick through in a morning super quickly. I'll show some examples. I'm just writing a more in depth follow up. Thank you Nick! I am glad it helped. I hope you didn't get too hurt in GME. I have almost the same amount of risk per trade which is between 1-2% depending on the volatility of the stock. Remember trading is a game of mathematics and you need to put the maths in your favour. Thank you 🙏 I literally have no experience with options I'm afraid. I'm sure you can but I just use leveraged shares and spread betting. Considering the sectors he was scanning there are going to be a lot that are at their ATH. It’s finding one consolidating for a time that is more difficult. Most that I find are already into their breakout and I don’t plan on buying fomo. I would personally build your own list out of hot stocks. I use trading view and create a list for each sector such as EV's, Renewable energy, AI etc etc I am glad it helped Carbine! If you're new to trading I'd definitely recommend just focusing on one set up and if you're using leverage don't use more than 10% of margin on a single trade. haha thank you mate! I have had this question a lot so I'll put together a resources list over the next few days and add it to this post :) I used to use level 2 a lot but for this strategy it's not as necessary. I don't like micro caps too much for this as I hold overnight and they're way more prone to random moves, offerings etc which can cause big gap downs. My average holding time is 2 to 3 days. I'll exit the trade into the rally on the second/third today depending how strong price action is. If the daily RSI raises over 92 then I'll be fully out. You're welcome! Yeah it's a pretty simple idea and concept. Don't get me wrong it will take you a while to get got at spotted when the stock is ready but that comes with time. You're welcome You're very welcome I hope it helps. Yeah most people don't realise you're best mastering one set up than trying to catch every move the market presents. Best of luck!! You're welcome Francis! Best of luck matey. Lol 😂 the trade I took yesterday was $FSR which was an ATH breakout. I will do! PM meaning Pre-Market. If I’m interpreting OP correctly - basically, in the session that the stock breaks through the all time highs, after he has closed the majority of his position he just sets a stop loss below the level of pre-market support. So in this example, if there was a level holding strong at $9.75 before the market opened and the stock ripped through $10, then after he sold 75% of his position then he would set a stop order for the remaining 25% somewhere below $9.75. Hope this helps. You can most certainly day trade with this strategy and just play the initial breakout. Which is what I used to do. However after a few years I realised that most breakouts last multiple days hence holding positions for longer. I'll quite often take some profit on the first day so it falls into day and swing trading. Thank you Hunter I am glad it helped. You're welcome I am glad it helped. I do both but most of my positions are 2 to 3 day holds (roughly). I use the daily to find stocks then I use the 5m when entering and the 15m/1 hour for monitoring positions. My average win rate on a monthly basis is 70 to 73% (average) My risk to reward is usually around 8 to 1 The only big losses I take are on gap downs which are rare but do happen. You want to be looking where most of the price action happens. I use trading view to analyse the charts. When I say I buy a small amount prior I mean when I think it's about to break out. I am not a fan of buying the dip on this strategy as the whole purpose of this set is to trade momentum. So I would only be focused on the ATH break outs that are either in hot sectors or have some sort of hype building around them. That's a different strategy. I play low volume accumulation plays which are insanely profitable but harder to predict when it will move. I don't want to be sat in a position too long as the capital needs to be at work. You're very welcome I get a small position when it's consolidating at ATH and has a reason to move. I.e. it's in a hot sector, good catalyst etc etc. Most of trading isn't as hard as it's made out, it's controlling your emotions that's most people fail with. As a trader we of course don’t want to be bag holding. We only want to get into the trade as well feel it’s about to break out. This is the part which of course takes some experience. The whole reason for the consolidation just below previous ATH as it gives those people a chance to get out. If you’ve been bag holding for 3 years and you’re then given say 2 weeks to sell for break even but choose not too then you’re likely not to sell when I starts ripping. You're very welcome I am glad it helped. Thank you man best of luck with everything! Thank you! Thanks man You're very welcome I build a list of hot stocks which I add to daily. I segregate the stocks into sectors. I then manually flick through in the morning. You're welcome Ziggy thank you! Thank you for the love Jack! I'll be sure to keep them posted :) I also use etoro, (im from the uk) have you found anything better? etoro sucks man - use something real like TradeStation (my personal fav) or something similar like Interactive Brokers. Thank you! I’m glad you found it helpful. Honestly I never expected such a warming response. I’m currently working on a much more in depth update and will post here once it’s done :) You're welcome, it will of course take time to get a feel for when stocks are ready to move but that comes with experience. Everyday usually. Distract people from GME and AMC? If you're trading those I wish you the best of luck. In regards to silver I took the ""break out"" of 26 and sold a lot of the position. You're correct my account is new and I like the word stonks. Where's your post bro? Let's see some gain porn lol Hey! So I don’t use a scanner I simply build a list in trading view of hot sectors and all the stocks. My list is around 800 atm It takes around 30 minutes in the morning to flick through and see which are setting up. I regularly add new ones All time high You're very welcome mate Feel free to ask any questions and I'll try my best to answer them. Of course it won't, I think you misunderstood the statement. You trade a set up not an idea. The all time high breakout is a ""set up"" Buying a stock breaking all time high on good news is completely different to buying a stock just because of good news. Breaking in ATH quite often sets off a reaction. A lot of the time a break out won't even have news behind it, it's purely technical. Good morning guys! Wow I wasn’t expecting this post to be so popular!! Thank you for the love! I’m just about to start going through the comments and questions now bare with me 🙏🤗 I will be messaging you in 7 days on [**2021-02-09 03:33:37 UTC**](http://www.wolframalpha.com/input/?i=2021-02-09%2003:33:37%20UTC%20To%20Local%20Time) to remind you of [**this link**](https://np.reddit.com/r/Daytrading/comments/lag8zs/how_to_become_a_consistent_profitable_trader_my/gloto9d/?context=3) [**17 OTHERS CLICKED THIS LINK**](https://np.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5Bhttps%3A%2F%2Fwww.reddit.com%2Fr%2FDaytrading%2Fcomments%2Flag8zs%2Fhow_to_become_a_consistent_profitable_trader_my%2Fgloto9d%2F%5D%0A%0ARemindMe%21%202021-02-09%2003%3A33%3A37%20UTC) to send a PM to also be reminded and to reduce spam. ^(Parent commenter can ) [^(delete this message to hide from others.)](https://np.reddit.com/message/compose/?to=RemindMeBot&subject=Delete%20Comment&message=Delete%21%20lag8zs) ***** |[^(Info)](https://np.reddit.com/r/RemindMeBot/comments/e1bko7/remindmebot_info_v21/)|[^(Custom)](https://np.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5BLink%20or%20message%20inside%20square%20brackets%5D%0A%0ARemindMe%21%20Time%20period%20here)|[^(Your Reminders)](https://np.reddit.com/message/compose/?to=RemindMeBot&subject=List%20Of%20Reminders&message=MyReminders%21)|[^(Feedback)](https://np.reddit.com/message/compose/?to=Watchful1&subject=RemindMeBot%20Feedback)| |-|-|-|-| Learning about stop loss orders is not too hard ... just Google it. It's going to be something you use frequently. !RemindMe in 4 days Presumably high relative volume. A lot of screeners let you look for that specifically, i.e. if a stock is doing X% more volume than its 90-day average, where X is a number you define. Would you be able to share his Instagram? Looking to follow as well! You can day trade options in a cash account and it settles by the next day. Sorry but I don’t have a course so can’t help you there 😂😂😅😅 Yeah. I'm confused by the example where the all time high was a year previous. So is the strategy to look for stocks that are approaching their previous ATH? Or looking for those that have just recently hit their ATH? Would thee sayeth this is favorable f'r larger cap companies i. e amazon brk. b aapl tsla? *** ^(I am a bot and I swapp'd some of thy words with Shakespeare words.) Commands: `!ShakespeareInsult`, `!fordo`, `!optout` I agree. Thanks so much mate, this was a perfect read for a newcomer like myself. Look forward to seeing your future posts! Any ETA on when you update the post? Thanks! Thanks looking forward to the update! Just wanted to say I'm looking forward to this :) I'm also interested in learning more! Bro did you update yet? Somewhere Thank you!! How far into the list are you now? I’m actively seeking resources like this so I’ll third this! I have been doing this for sometime, it cuts a lot of the work of looking for new stocks every day/week I am actually using this strat for over a year and because watching those few stocks makes you kinda understand the momentum and emotions on the ticker, bringing higher odds of profitting with the peak and troughs. I kind of agree. I might take it to an extreme sometimes and watch only one pair or two stocks if I'm already profitable enough trading them. Hey Op, we here, can you advise please Exactly. If you've waited potentially months to break even, you're going to want to wait out SOME kind of profit. Could you share your evidence that only a very small percentage of people will sell the ATH? [deleted] Except when you have double tops This dude is right. Fucking hell, that was the one of the most effortlessly understandable posts. Thanks for broadening my understanding! Learned the BIO lesson the hard way I am a beginner and your original post is very helpful. What is BIO? Yeah, emotions suck Np and thank you fir giving back education Here's the list that OP probably uses from Tradingview: https://www.tradingview.com/markets/stocks-usa/highs-and-lows-ath/ Finviz has 52 week high, but not an all time high. Dell It's 52 week. You can search by 52 week high. You set it to within 2% of high. How do u play earnings if at all? Seems like stocks go up before but holding through is hit or big miss Sweet. I printed your post. I understand it does not cover everything and, in my experience with stocks, anything can happen to upset a trade but it’s a great primer and I thank you for posting. How’re you tracking this if I might ask? Great strategy btw Are you willing to share your total annual return, net of fees? Oh and trade count for the 12 months? Thanks!! First I want to say thank you for your brake-down. I've been educating myself with stock terms, charts, and understanding the candle sticks(I guess technical analysis) and trying to understand fundamental. This explanation has me breaking easier. I have etrade and aren't we allow to just day trade 3 times out of the week? Or is their a way where I can go on trading w/o any violation? Also this strategy can be effective for swing traders? Third this It's like 10 days old, guy is trying to distract you all. What do you categorize as hot and momentum stocks and how do you find them? Thank you Exactly and this is why it's important to build a large last. Once you get the hang of it you'll find you flick through a list of 200 stocks in literally minutes. Not trying to ask the obvious here, but what's your criteria for a ""hot stock""? Not for the set up part, but for initially being added to your list. Thanks for the reply! Lots to learn Yes this is correct, once a stock has broke out it will keep running until it doesn't. Sounds stupidly simple I know but once a stock breaks below it's consolidation area of pre market it's statistically less likely to rebreak high of the day. Therefore we exit. I really like this approach! Do you pay for live data at all? i feel that. What do you consider ""reason to move""? sounds very subjective no? also, do you ever swing into earnings? I did not change yes but I might be using ameritrade in the future Edit: Ameritrade = thinkorswim Or also interactive brokers, I have to make some more research. So you only care about the stocks which consolidate right under the all time high? You know, some people like engaging in conversation? It’s what this forum is for. If you’re too good to offer advice that may be easier to understand for a novice, feel free to keep scrolling. !RemindMe in 14 days [deleted] Update will be posted middle of next week. Sorry been so busy and it’s taking a while to type up haha 🙏🙏 it’ll be worth it Hey, don't worry I haven't forgot. Still typing things up :) What stocks would you recommend with this strategy? don't underestimate the relief of no longer being wrong. these people cannot objectively see the current situation for what it is and will invariably get out early. the ones that wouldn't get out early but can ride for more profit? well by and large they would not ever be holding a bag for months and wouldn't be subject to this feeling of relief of being wrong and tricked into thinking they're finally right. they admit they're wrong asap and move on a long time ago - enter this breakout trade with the outlook that OP has. It's always ""profit taking"" until it becomes ""a correction"" and then it either ""consolidates"" or ""sells off"". Not to say you can't develop a feel for what's going to hold and what's going to break but to say it's going to advance through an ATH consistently seems unlikely in my experience. Very curious to see the evidence you're asking for. I'm wondering which of you makes more trading this setup? The one quoting academic studies or the one in the arena? As an amateur I can tell you a stock making a new all time high is way less likely to immediately pullback because there is no more overhead resistance. For all I know individuals may be net sellers of stocks in this case, but retail tends to be ""dumb money"" and can't really move markets anyway. So I don't think it matters. New all time highs are not bearish. Biosciences such as pharmaceuticals. I'm crazy old school, I track every trade in excel. Don't ask why I still use excel as I don't know There is PDT (Pattern Day Trading) law that all brokers have to comply with that limit how many times you can day trade in any 5 day trading window, UNLESS you have an account over $25,000, which then let's you day trade as much as your heart desires. ❤ Fourth thistle Distract from what Luker? I'm not some ""guru trying to sell a course"" or ""sign you up to a broker"". I just thought this simple explanation would help guide people. So far example lets say I see NIO and Tesla making big moves. Higher than usual volume. I build out a watchlist that just has EV's in it. My main watches are EV's, AI, Bio (daily plays), General Tech, Space, Ecom, Africa Names, China Names There is a 4 hour delay fetching comments. I will be messaging you in 14 days on [**2021-02-25 01:45:33 UTC**](http://www.wolframalpha.com/input/?i=2021-02-25%2001:45:33%20UTC%20To%20Local%20Time) to remind you of [**this link**](https://np.reddit.com/r/Daytrading/comments/lag8zs/how_to_become_a_consistent_profitable_trader_my/gmw0xo7/?context=3) [**CLICK THIS LINK**](https://np.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5Bhttps%3A%2F%2Fwww.reddit.com%2Fr%2FDaytrading%2Fcomments%2Flag8zs%2Fhow_to_become_a_consistent_profitable_trader_my%2Fgmw0xo7%2F%5D%0A%0ARemindMe%21%202021-02-25%2001%3A45%3A33%20UTC) to send a PM to also be reminded and to reduce spam. ^(Parent commenter can ) [^(delete this message to hide from others.)](https://np.reddit.com/message/compose/?to=RemindMeBot&subject=Delete%20Comment&message=Delete%21%20lag8zs) ***** |[^(Info)](https://np.reddit.com/r/RemindMeBot/comments/e1bko7/remindmebot_info_v21/)|[^(Custom)](https://np.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5BLink%20or%20message%20inside%20square%20brackets%5D%0A%0ARemindMe%21%20Time%20period%20here)|[^(Your Reminders)](https://np.reddit.com/message/compose/?to=RemindMeBot&subject=List%20Of%20Reminders&message=MyReminders%21)|[^(Feedback)](https://np.reddit.com/message/compose/?to=Watchful1&subject=RemindMeBot%20Feedback)| |-|-|-|-| Oh haha yeah that’s very common! Yeah I give away 90% for a free to help as much as I can. My number one advise would be to just focus on one or two set ups. Like the ATH set up or the daily breakout set up and literally trading nothing else. It’s literally the only way to become consistent at trading. Also don’t get suckered into indicators etc as most are trash. I literally only use volume and daily rsi that’s about it. Must be really good since it already took you a year Thanks! :) Unrelated question, do you know why your EVGN post got deleted? Thanks The real hero 🙌 RemindMe! 9 Days Been busy getting money!!!!! Lol thanks for posting this I realize I was trading on emotion and news instead of a solid plan Thanks for the post and additional write up. As someone still trying to define and refine my plan, I'm always looking to find another angle to explore. Did this write up ever happen? I’m curious! :) I never stated consistently, around 30% of my trades lose and my win rate for this is approx 70% - My total r/R is between 6 to 1 up to 25 to 1 I posted today that I took SKLZ, PDD and MVIS (daily breakout) before market open. All 3 hit Besides Google Sheets, what else is there to use besides a notebook or a spreadsheet? Fifth whistle Fifth this! You sell a trading group for $50 a month though.... I will be messaging you in 9 days on [**2021-04-14 23:56:14 UTC**](http://www.wolframalpha.com/input/?i=2021-04-14%2023:56:14%20UTC%20To%20Local%20Time) to remind you of [**this link**](https://www.reddit.com/r/Daytrading/comments/lag8zs/how_to_become_a_consistent_profitable_trader_my/gtih4du/?context=3) [**CLICK THIS LINK**](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5Bhttps%3A%2F%2Fwww.reddit.com%2Fr%2FDaytrading%2Fcomments%2Flag8zs%2Fhow_to_become_a_consistent_profitable_trader_my%2Fgtih4du%2F%5D%0A%0ARemindMe%21%202021-04-14%2023%3A56%3A14%20UTC) to send a PM to also be reminded and to reduce spam. ^(Parent commenter can ) [^(delete this message to hide from others.)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Delete%20Comment&message=Delete%21%20lag8zs) ***** |[^(Info)](https://www.reddit.com/r/RemindMeBot/comments/e1bko7/remindmebot_info_v21/)|[^(Custom)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5BLink%20or%20message%20inside%20square%20brackets%5D%0A%0ARemindMe%21%20Time%20period%20here)|[^(Your Reminders)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=List%20Of%20Reminders&message=MyReminders%21)|[^(Feedback)](https://www.reddit.com/message/compose/?to=Watchful1&subject=RemindMeBot%20Feedback)| |-|-|-|-| haha thanks guys" The only thing you need for day trading,3793,https://i.redd.it/kfnc00l1y1h61.jpg,"I'm doing it all in VR now. Infinite screens. Where do you put your cocaine Damn that mousepad tho Ok rainman This is a beautifully grotesque monstrosity. I love it. I would never, ever do this myself, but I love that you did. And you still lose money. Looks like you're about to call in an artillery strike. this would be great for pornhub This is not even my final form You want to day trading or nuke Iran? Is that the new day trading transformer? Daytradeathon Only to get outperformed by a young kid trading with a cracked phone screen. What a beautiful piece of worthless shit! [https://www.youtube.com/watch?v=VvUN12gNfew](https://www.youtube.com/watch?v=VvUN12gNfew) [https://www.extremetech.com/computing/319803-the-aurora-7-is-an-amazing-26-pound-laptop-with-7-displays-zero-purpose](https://www.extremetech.com/computing/319803-the-aurora-7-is-an-amazing-26-pound-laptop-with-7-displays-zero-purpose) "" Battery life is for the whole system is somewhere between 28 minutes and an hour, "" "" This is a laptop that can do everything except function as a laptop without causing pelvis fractures. The creators note, a tad apologetically, that it’s not yet legal to carry on a plane due to the size of the second battery. And again — gloriously — it weighs *twenty-six* pounds. "" "" Displays 5, 6, and 7 are all 7-inch 1920×1200 panels in 16:10 mode. I am charmed by the decision to deploy 16:10 on a 7-inch panel, ensuring that while I won’t be able to read the text, I’ll love the aspect ratio. "" ​ ​ [https://www.windowscentral.com/aurora-7-laptop-has-seven-screens-because-why-not](https://www.windowscentral.com/aurora-7-laptop-has-seven-screens-because-why-not) ​ [https://www.tomshardware.com/news/expanscape-aurora](https://www.tomshardware.com/news/expanscape-aurora) ​ ​ Lots of pictures - [https://expanscape.com/the-aurora-7-prototype/the-story-of-the-aurora-7/](https://expanscape.com/the-aurora-7-prototype/the-story-of-the-aurora-7/) ​ Noticeably absent is a video of the thing being carried around and set up for use! What is this? Where do I buy one Things a damn monster. He better be getting them profits in fr lol Just came. Twice. Pretty sure I got engaged, too. Loving the mousepad Pass Big flex with a stock photo. A physical firewall for protecting your virginity. and here I am with an ipad I just use my phone. It is an LG V60 Dual Screen though so it's just as good as that setup. name ? Niiiice battlestation! Jacking off* That’s a lot of things And to hack into the CIA mainframe. Jesus Christ... Wtc Bloomberg? i need to get me one of these lol What are you using for the monitors? how is this a thing You sure do need a new flat clicker Now THATS a battle station! I just use my laptop with no extra screens. Am I doing it wrong.. #screengains When you need to daytrade during World War III This dude got an autobot or something lmaoo Ummm. Wow...Could you actually list the description of all that hardware and software you're running????? I could use that for web deigning. Seriously. [deleted] perfect for loss porn. Shouldn’t this be in r/nextfuckinglevel ? What year is that laptop from? 🧱 This looks like an 80s cyberpunk set up, It’s just Missing some mini disks scattered across the desk and some old pink neon. I love it. That looks like the setup of the temporary bad guy for the first 10 episodes in a season of 24. What is each screen’s function? Looks like a piece of shit tbh Is there a tiny ass screen on the lower right of the laptop??? Is this what they mean by Bloomberg Terminal? >/s This monster gets 8 miles to the gallon Lol what the fuck is that? Just buy a few usb monitors You need balls not this bull crap I’m too poor for this sh1t lol Where’s the rest of the screens Is this a power I can learn? But it can run minecraft? like.. a desktop works too and is just as heavy/hard to carry around haha I’m just picturing all the porn I’d have up on all those screens And still you couldn't buy a mouse pad lol The latency in the wireless mouse will delay your orders! I honestly don’t need all that for day trading. I can day trade on my phone and iPad just as well. You really only need two screens. Any more and you're only fooling yourself into thinking it's going to make you a better trader. This like like some missile launching interface lol Love the mouse pad, I have the same one I’d love to whip this out in a Starbucks Wtf is this? I have a cracked screen phone with a button that barely works. Who makes that? Apple? So a thick 1997 laptop and some shit monitors taped to it? Wth is that!? I want one!! 😈 This isn’t even my final form. This is the way 🙌🏼 All that and a $15 Logitech mouse what kind of wack-ass computer is that? It looks like a monstrosity. A science experiment gone wrong. I like it. Just wow Prototype???? Nice but will it run Crysis? That's a whole lotta screens for some pr0n my guy Which transformer is that? Wait, are you sure that’s enough screens though? EZ PZ I need more What am I looking at lol. But if it works then don't fix it. Ok, so I’ll hold then. But but.. does it lap on my top? I mean top on my lap? Do you actually lug this thing around? Maybe I have bad eyesight but I would have a really hard time reading the stuff on those screens Seems legit Is that a little pull out screen on the vertical ones? Wtf is this thing lol Does that thing actually close? I only need the retards in reddit :D And yet you can’t even afford a mouse pad. This is something I’d imagine Inspector Gadget would transform into Oh is that all? Why are none of these screens on reddit? Save some for the rest of us. Great for the holidays. Why go to the beach when you can stay inside your hotel room, watching your mobile Bloomberg terminal. Thank god for the wireless mouse. Trackpads are responsible for billions lost in misplaced orders (the pad in fact doubles as a mouse 1 input, leading to a lot of misclicks). I have more life advice if anyone needs! Try going to bestbuy or walmart and casting your extended desktop onto the smart tv display models. Worst case scenario you are asked to leave, best case scenario you can see the candles in 4k and scope out the maximum price every time Sick Faptop computer Amazing Man...looks Top!!!! Autobots, transform and roll out! Day trader, Night hacker. Like it. I really want to start a firm now and send all employees a vr set, and just have a giant virtual trading room yelling at each other lol I can hear the fans running from here When your computer cost more than your investments Et ""Portable"" That’s it? Looks like my Gameboy SP at my peak of coolness. WANT. Well, not really... Is that Megatron? Honestly this looks like something straight out of Batman’s cave. What the fuck is that I want one!!! More screens = more power No other way to say it..... Heck Yea!! Screen Porn ..... That is a lot of video cards. And all I use is my iphone... I firmly believe that there is an inverse relationship between how many screens you use for trading vs how profitable you actually are What the heck is that What the fuck That shit looks like a transformer I need this Any reccos for beginners software? Free or paid versions - would likely do my own training on them I want this so bad. Where do I get a transformer? I can only afford bumblebee r/battlestations Fucking Overkill 😂😂 Yea bro but you profitable I have a chubby. And a pair of these... https://images.app.goo.gl/eL5b42Rj4V5B3E7p8 Papi or goon? Hey always wondered and have been curious, what’s the function of each screen? Do you just mix it up as you see fit for the trading day (for e.g., one screen has news, one has list of stocks you’re researching, one charts, etc.) ? Or does each screen run some sort of specific program(s) ? Regardless, it’s an awesome looking setup! Squawk on the street is major trading desks are pushing long positions in ABBV this month... fast money to be made. This is great because it’s not even his! Yolo it instead! Let the stock gods do the work! Plug the setup and where to buy And money which afford loss. The most efficient and portable set up I’ve seen This is amazing!! Dude what kinda war relic is this? Is that desk sturdy enough to hold this thing much longer? what computer and monitor accessories? What even is this? Lul Has anyone ever used TrustFinance? Lmao nice VR trading is going to actually just bring us back to a bunch of dudes all together yelling in a giant room like things used to be, but virtually. Is this actually a thing? I could imagine myself running down a corridor of screens setting buy and sell orders, loosing money at an exponential rate You have ascended Hey I just got an oculus quest 2 and saw that I can Remote Desktop You serious?i have a vr Headset but thought people were joking I jack in like the matrix. ""I know stonks"" ""Show me.."" I've been considering this, but I always figured there would be an issue with screen resolution since most VR headsets don't have good resolution yet. How's it working for you? You’re goin full Minority Report aren’t you What are you using exactly? Been thinking of trying this? VR Greendale. https://youtu.be/z4FGzE4endQ Lol Nah ar would be better Is it possible to learn this power? Where do you go in VR chat or?wich room? plz hook a brother up,! What set up do you use? Whats the setup? Seriously? What headset and stuff? I have an Oculus Quest 2 and would love to trade on it. What do you use my friend? I'm a big fan of VR and trading. What program in VR? What’s a good link/ app Make a video! And Jesus wept, for there were no more world's to conquer. Not enough pixels or FoV for me yet. When I'm looking at one of my screens I can still see what's on the other in my peripheral vision, alerts etc. I can lean back and look at it all. Once we're closer to human acuity and FoV, then I'm in. (And I do love VR, but I can't work in it yet. Simply doesn't compare to my 4x array at home/work, especially when dealing with lots of text.) App or platform? how can i do this on my vr pc? Yup it’s amazing watching stock videos on a huge VR screen Up his nose I believe that tiny screen in the bottom right doubles as a coke mirror 🤷🏻 He might sit on it.... same place all my money goes It's got a department attached for that lol They always hide the pile under the keyboard... Where it can’t be found. And then u forget where u put it I'm not addicted to cocaine, I just like the way it smells. Have a visit around your neck, buy flip it upside down. Inside my cigarettes, like everyone else He bought it with the money he had left. All that expensive equipment and they put a piece of lined notebook paper there lmao 🤣 Raymond\* *PREDATOR MISSILE INCOMING* Does it come with a dude who carries it on his back? They always get shot so it's hard to find people to fill the vacancy. AC 130 INBOUND!!! quadruple tab 480p blowjobs baby *xvideos Yes Watch out, it's the Shorticons! Investicons, bull out! TWO MEGAPIXEL WEBCAM [The Aurora 7](https://expanscape.com/the-aurora-7-prototype/the-story-of-the-aurora-7/) Have you more than 20k to spent? the best part is that's the official mousepad they use in the promo pic (aurora 7) for the site lmfaoooooo absolutely something i wud do and have done as a boujie impoverished person Which platforms do you trade with? How is the battery life? Aurora 7. It's a prototype as of now. YOU SUNK MY BATTLESHIP! I saw an article for this. It is called the Aurora 7 laptop. /r/pcmasterrace *Where do I get a* *Transformer? I can only* *Afford bumblebee* \- XXX-JewLiveCrew-69 --- ^(I detect haikus. And sometimes, successfully.) ^[Learn more about me.](https://www.reddit.com/r/haikusbot/) ^(Opt out of replies: ""haikusbot opt out"" | Delete my comment: ""haikusbot delete"") Yes, many people have scanners, news, chat, and one screen as a overview of a set of stocks to watch, and then ability to trade 1-2 charts live. Human nature is just one big circle. It's all coming together now. Just imagine the pit in VR Chat but everyone can buy stonks there Except ...I will be rocking a Minotaur avatar. Oh fuck yes The first people to successfully create AI trading will amass most of the money in days, leaving the rest of us in poverty. Did people used to fight on the floor of the stock exchange? I imagine emotions used to run high. Genuinely curious. Plz Except we’ll all be knights and wizards and mages and shit You should have a pile of money equal to your account value and anytime you want to take a trade you have to hand over that amount and vice-versa. Imagine that The Weeknd gif but also imagine that I edited it to look just like what you're talking about. Hahahahahaa this is good Thanks for seeding that into my subconscious' dream bank. This one's gonna be fun... It is, or was… there’s lots of folks writing about it but the site has been down a while… https://www.pcgamesn.com/seven-screen-laptop I don’t think they are joking though is the thing ... Jacking inside of VR Also have to consider that the headsets are heavy and will make your face sore - so once a high resolution, lightweight headset hits the market? All in oculus rift s. there are higher res headset options that would probably work better for this Like the Lenovo ThinkReality glasses. NOT from a Jedi. 😂 P.s. I don't like sand... 😅 Consider it done Pimax 8K might be worth looking at if it's something you'd ever consider Safe place Not up his ass? so close. the real answer is up your ass aka ""boof the floof"" $20k computer $19 mouse $0 mousepad Not to mention all of that screen glare. I couldn't work like that. I'd just sell it all at a loss and go work as a farmer. Not after this season. what what what what are are are are you you you you doing doing doing doing step step step step bro bro bro bro Lol, this is almost perfect. Lol, the slogan is ""A laptop with zero compromises"". Like there's no imaginable downsides to this thing. Not at the moment give me a couple months ;) maybe sooner but looks like 20 large Does it cost 20k? It better print money for me (if I ever get that cash) [deleted] Ty m8 > big circle > coming together Wait a minute Circle jerk 🍆 Group of Uganda knuckles running around yelling, you got to buy and hold my brudda. I think this is the start of something revolutionary Yes, apparently the gradual digitization of trading actually slowly eliminated the number of fistfights happening in the pits. This, but the pile is all in $1 bills or change. > and anytime you want to take a trade you have to hand over that amount and anytime I want to take a trade I pull out a lighter and just light that amount on fire haptic bitcoin... /stressful haha And how do they trade ? Just a browser application on the vor headset? Same It's promising...the FoV/peripheral vision is a big one for me too. I know its 150+ is pretty dang good, and I haven't tried the Pimax yet...so I could be a convert once I do. :) That and I'm super spoiled by wireless. I love my Quest 1/2 (for games) especially when streaming higher-res PC games too it. Or playing Tea for God in my backyard literally running around in VR. Even if not now, it'll get there. And we do have team meetings in VR sometimes these days... This is the way. Chugging?? Boof gang stand up $9.88 Walmart folding table Haha I I got to the 4th line and realized what I was reading and died laughing! Haha this this this this is is is is so so so so wrong wrong wrong wrong 😂😂😂 I mean it is.light weight and 7 monitors can’t be compromised.so for what it is it’s phenomenal.that it can run just from Batterie is already big Notice they don't mention battery life, just ""easily replaceable"" batteries. I wonder how many spares you'd have to carry. It says you need to contact them directly and sign an NDA just for pricing, but seeing as they have 4 4K screens, 6 core 5Ghz processor with Nvidia GTX card, and a ton of other computer jargon I don’t understand, I think 20k is a fair estimate 20k T.G.H. (Too Goddamn High!) White Shoes! Calm down! 👋 The evolution of the circle jerk I laughed for too long at this. Have my upvote good sir. Come together Right now *over me*. Apes. together. jerk. You *puts sunglasses on* BEAT ME TO IT. *YAAAAAAAHHHHHHHHH* r/suddenlygay Sounds like a circle jerk to me! Hmmmm this sounded a tad umm naughty 😉?? Due u kno da way?!!? Making it rain on someone with every lost trade... virtually. [deleted] Run 9-18+ pages in separate browser windows in VR. Someone posted a video on it here in the subreddit. *😂 I wouldn’t call 10KG “lightweight” for a laptop I am not saying it isn't phenomenal, but I can name a few things other laptops definitely have it beat, like portability, aerodynamics and ability to blend in in a public place. Dis is dah way Set up a vr room the size of a room in your house. Empty the room. Cover the vr walls with screens. Boom, trading room. Bonus points if you have hand tracking so they can all be vr touchscreens. I meant it in a different way.you can’t make a laptop with 7 monitors like 2kg light.it’s as Good as it gets.you can’t have a gasoline engine with 500 horse power that only consumes 2 litres per 100km. And they are only 60% towards it being 10kg max so does that mean it is currently 16kg? Imaging taking this thing out in a plane No! Luk aht me! Dees ees de way! Haha omg. That's some next level mr Bean shit." I just hooked up my PS4 controller to buy and sell quickly on the stock market using button remapping software and hot keys. 🤟🏾🎮,3513,https://v.redd.it/5ehacg7k7oh61,"that´s what they mean, when they speak about gamefication of stock markets. I love it. Imagine a mate coming over and grabbing the controller to play fifa whilst you're taking a shit Yolo it and see if that would make u a profit. ""Playing the market"" “Day trader was so preoccupied with whether or not he could, he didn’t stop to think if he should.” This is why Boomers are gonna lose the market game, they're probs slowly clicking on Blockbuster on their 2001 Macintosh. Hey youtube, it's ya boy MadCactus, and today we're gonna be speedrunning bluechip tech stocks Prepare yourself to be made famous on boomer media outlets in the coming weeks after some journo finds this and writes a market watch article... “Proof that millennials on Reddit think the stock market is a game: TheY ArE NoT InvEsTing TheY aRe eNgaGing iN GaMiFiEd GamBLinG!!” I can't put my controller down during a movie without fast forwarding through half the film... I would make terrible terrible mistakes with that Triangle, R2, Left, L1, X ,Right, Triangle, Down, Square, L1, L1, L1 Unlimited Money Cheat code Genuinely wondering. I’m a game developer, would people play a gamified version of this on your PS4/mobile device if there were social features such as multiplayer charts (where everyone trades using the same chart) and leaderboards? Don’t know a clue about day trading, do you guys really trade so quickly? Here I am thinking I'm Mr. Robot because I reinstalled a driver to get my printer to work when I come across this dude who hooked up an Xbox controller to trade stocks like he's playing GTA V. Now I am depressed. Anyways awesome job, that is amazing. Smash those buttons and make that money. Takes gaming the market to a whole new reality This is dope. I saw someone using VR to trade and I’m not gonna lie it was pretty OP. This dude has a 360 view of as many charts and indicators as he wanted. Could buy and sell with a few clicks. It was so cool. I love how creative humans are. Keep being awesome! Can I use a gaming steering wheel with shift, pedal everything? That would accelerate the stocks processes 2? 😂🤣😂oh no they gonna accuse you of “gamifying the stock market”🤣🎱🤣😂 When people ask ""Is this a game to you?"" 👀 Boomer gamification rambling intensifies This is brilliant 🤣🔥 🤘 This is awesome Trade execution at it's finest. Well done. What brokerage/software/platform, you using? I thought about doing the same with my Xbox controller and remapping :) This is awesome! Im also with CMEG but not using Sterling. Will this remapping software work with DAS, really want to try it. Why though? 2 questions : What trading platform and any additional software used to remap the keys? Are you winning son? Wtf is use of this? You could’ve clearly mapped it to guitar player guitar but why a controller? I've been researching and am about to make a dedicated hot key board with only 9 large buttons, for daytrading. When I'm staring intently at my screens and using hotkeys, I have hit the wrong key more than once...not good. I'll post pics when done. Next I'll be testing trading stocks with a guitar hero controller. Is this for speed? Less clicks ? I’ve though about this and it could work well if you have your stocks set up before the open. LEFT trigger + A buy ask Left trigger + B join Bid Right Trigger + A Join ask Right trigger + B sell bid Y - would cycle through the 4 or so level 2s you have up X - cancel order bumpers + X - PANIC (cancel all, exit at market) D PAD - changing share size in selected montage Something like that. These would be Xbox buttons 😂 madlad This is so awesome. Congrats!! Controllers have input lag. PC Master Race. This is awesome! Rages and throws the controller Dang... that’s dedication... and genius [deleted] Dude I envisioned the same thing! Wish i had the technical skill to implement like you did! Thats freaking awesome Status says cancelled, is that just cause this was for show or will it not allow the program to run the way you want? you're gaming the market you bastard What type of wizardry is this? Wow you've gamified bankruptsy. Very cool! This is the way I hope you don’t have a cat. This is so ridiculous. I fucking love it. The stock market is a perfectly balanced game with absolutely no exploits.😂 Whats the 3rd column where it says ""Status"" with all of those listing ""Canceled""? Are you just ""erasing"" each canceled row with the controller? Lol. gamification to the max /r/wallstreetbets Market buying last week's meme stocks on a PlayStation controller. Literally can't go tits up Drop the controller.... OH HOLY COW!! Is this the casino? Excuse me sir, this is an arcade. Shit I need me one of these This is the GAME we all have been waiting for Looks in retard* >.> you better put a patent on this before..... too late That's the 🔥 This is not a game son! But the status all says cancelled You have been banned from r/SNDL we do not sell /s The true Meta game What trading platform are you using? Super dope That's rad! Now you can lose money even faster!!!! I would def fuck up a transaction doing that lmao. Really innovative though The stock market isn’t a game! Oh. Fuck. I’ll see myself out. Wth. That’s amazing Illuminati: Wait right there.... They say robinhood is making trading a video game. You’re really making trading a video game thats sick. i need to learn how to set that shit up with hot keys for rapid fire trading. What program is he using to trade? But can you spawn the helicopter and rocket launcher into your brokerage account? Please make a trading video game! Power to the players Power to the player. That’s high frequency as fuck. The algorithms have nothing on this Heard this was the limited edition PS5 controller available at GameStop. Lol I guess trading is a game thats awesome Never drop your controller Scalpers run 'Day Trader'.. now on Xbox. **Commisions go brrr** cool you are crazy :) You better be holding that SNDL. broooo how Ps5>PS4 Elon Musk - It’s like running the engine with no resistance. Those taxes though One day I’ll be a day trader making hundreds in a day easily 💵💵💵 This sub is turning into an absolute piece of shit I... don't see how that is more efficient than a mouse lol. Never heard of hot keys? Dude can this be done on a windows laptop? ...but why? I don't see how using a PS4 controller has any benefit to just using a mouse and/or hot keys. I can only see downsides with little to no benefit. ""this isn't a game!"" op- 'oh really ?' Is this actually faster? Have you bought any SNE stocks/options with it? That would be kinda cool This man here is revolutionizing how quickly you can lose your money. Imagine the buttons get jammed or sensors lock in like those turbo button mashers. I'm guessing this comes in a Mad Katz controller option as well? I did this during my early stages of daytrading and it’s quite useful, however i didnt like to associate daytrading as a game since im dealing with real money. It’s good for paper trading though, but i wouldn’t recommend it if you’re serious Faster? Is it? Goddamn I hope Robinhood isn't watching, don't give 'em more reasons to trick us youngins into playing games with the stock market! Whatever the fuck you do, don’t drop that controller down the stairs! The new stock simulator game. On XBOX/PS5/PC. How Has anyone ever used TrustFinance? Wouldn’t a gaming mouse with multiple buttons suffice/be faster? I think this is exactly the kind of thing people were imagining when they coined the term GAMESTONK. Target down! Winner chicken dinner! 😂 Devastating 👍 Now that’s gamification! With great power come great responsibility 🤣 “Did you ever hear the tragedy of N35TY The Wise? I thought not. It’s not a story the Jedi would tell you. It’s a Sith legend. N35TY was a Dark Lord of the Sith, so powerful and so wise he could use the Dual Shock Controller to influence the stock market to create wealth… He had such a knowledge of the stock market that he could even keep the losses away. The Dual Shock Controller is a pathway to many abilities some consider to be unnatural.” Lmao Open AOL Click on Yahoo News Search Yahoo for ""Google"" Google ""DOW Jones"" Click on etrade suggested link Click Forgot Password Click on Hotmail.com mail icon in 3rd row of browser widgets Get forgot password link Highlight link and right click Click copy open Word 98 Right click then choose paste highlight link Right click, choose copy Open IE9 Right click address bar and click paste Die of tuberculosis Nah algos click faster [deleted] Bro you have no idea! Boomers are calling in there orders lol 😂 Haha I lol'd That would be epic Buys AAPL like a boomer and holds for 15 years. LMAO I can see it happening. I cant wait Yep I nearly quit every game just putting mine down... but it’s got those little paddles so I can slide and crouch faster. I do the same but just with the Xbox remotes PS4 doesn’t do it as often Maybe make it a 2 button required thing. While holding A press left or right trigger. So then you aren't accidentally buying or selling with a quick bump. There is marketwatch, which already has a “game” mode. There is always room for improvement though! If you do develop it, lmk and I’ll play it. Good luck I would play the fuck out of this, lose all my money, and have fun the whole time. I would play over the weeken when markets are closed or on days when I feel ""off"" and can't trust my self with real life decisions. To play/trade through real life historic events would be great. Scalpers can make trades in as little as 60sec. $0.20 gain X 2,000 shares adds up fast. Takes money to make money though. This boomer does exactly that. All trades usually under 60 seconds. I use anywhere between 500-3000 shares typically. Daily avg is about $350 I scalp futures and if the market is very volatile sometimes I'll only be in a trade for a few seconds. Futures are heavily leveraged though so during extreme volatility (like the covid crash) 10 seconds might be $1000+ with a single contract Some do, depends of how volatile the trades are. When I'm right it can go so fast that I'm scrambling to sell in case it disappears, other times it can take minutes to even a few hours For me even though I don't day trade so much, this looks great because you can enter and exit trades quickly. Most broker interfaces are cumbersome and require many button presses to get in and out of positions. On the other hand it seems that this is doing market buys and sells which I generally don't use. 🤣💚 That sound like a dream setup! You as well good sir. 🤜🤛 Yes, You could!! 😂 shit you can link a Wii remote to trade with air gestures if you wanted. Ahhh what a beautiful time to be alive! The trading platform is sterling trader the brokerage is CMEG. The controller remapping software is reWASD. Yep! You can use reWASD to trigger any keyboard combo/hot key with any program. For trading quickly in and out of a position with having to fumble and not get out the position at the price you intended. Without* Because why not? It’s slightly faster and easier plus it probably feels pretty cool Sterling Trader using CMEG Brokerage. reWASD to remap the controller. Just got it hooked up this morning, I’ll know if it’s effective when the markets open tomorrow morn LMAO imagine trading with a guitar hero controller. You mean like the Elgato stream deck? Yep All that said it’s still probs easier to just use hot keys on keyboard cause you’ll have you hands on keyboard for typing tickers and such 🤷 ✊🏾 Yes. The markets are closed today. The trades are instantly cancelled when the markets are closed. *Achievement Unlocked* Hey I know some great cat traders. The orders are automatically cancelled when the markets are closed. Gamification is de way Never! 😂 Because the markets are closed today. 🤣 for a sec I thought I was actually banned Sterling Trader with CMEG Brokerage Sterling Trader with CMEG broker. Lol I wish Lol hold SNDL would be a good idea but I like scalping 😉 The trading platform is sterling trader the brokerage is CMEG. The controller remapping software is reWASD. 💩💩💩 How many clicks do you think it takes to execute a trade with a mouse? Def not one click. Wat? The trading platform sterling trader is offer by CMEG brokerage when you register and fund your account . The controller remapping software is reWASD. Just set the button on the controllers to the hot key keyboard shortcuts. I personally think it gives you more control and immersion for executing some of the basic frequent commands. In comparison to what? He’s living in 2030 . Thots and prayers And great electricity bill! You forgot to wait 2 lines after opening IE9 I love and hate this. I love it cause it’s funny and it’s true, and I hate it cause it’s true... Reading this gave me that same feeling you get when you're in a rush and get stuck walking behind someone really slow and you wanna walk around them but you're in a mall and your social anxiety stops you from trying just incase you accidentally cut someone off or almost hit them and you have to deal with the social interaction of apologizing. Tell me more about these algos please. Betcha his mattress stuffed with money and a few shoe boxes with filled with cash in his dusty old closet. Lol Don’t judge a book by it’s cover. A lot of people that age (who had parents grow up in the Great Depression) are like that. I’m in Texas where there’s a ton of millionaires who you would have no idea by looking at them. I mean, hell, Sam Walton drove his 1979 F150 just about until the day he died. Granted this guy is in a corner store... There’s millions of people out there still like that, not just in finance but who swear by not using any new technology. I’ve worked in a phone/pc store and I had dozens of people walk in like that. Many elderly but people in 40-50s too that use an old flipphone or don’t have dataplans and only text and call, write everything on paper I know someone who is rich as ffffuuuuuckkk (happen to have known them a long time) and acts like anyone else making 50k a year and just sorta scraping by. Multi millionaire. If they do, just ask them how this is different from what other scalpers have been doing for decades. Or hedge funds installing a fucking radio antenna network to decrease the signal latency between their algo machines and the exchange by a few microseconds. Hahah we know it’s coming lol 60 seconds? Go back to r/investing Ok boomer! Lmao Sterling works on MAC or do you have parallels? You deserve an award buddy! Wondering how you did it though. Did you upload the hotkey script of Sterling is to reWASD? I used both Sterling and DAS and they have different scripts. What I like with DAS is CXL ALLSYMB script that you can put in any script which will save you from another key entry if you want to send a cancel of an open order and then let you buy/sell order at the same time all in one keystroke. Why not just use keyboard shortcuts? Interesting! Went and looked. Yah, pretty much. I'd like bigger buttons if I can find them. $150 seems steep for a usb keypad though. I'm not a gamer so maybe I'm missing something... Why not both🤷🏾‍♂️ I’m dumb dumb. Forgot 😂 I've just done this. Using AntiMicro (free - for remapping), and my old Xbox One Controller, with Wireless USB PC Dongle. Working flawlessly! Thanks for the sharing the idea bud. Fair enough, we knew the drop at $4.20 was expected due to the volume of sells. I just don’t try and time the markets myself, I’m in it for the long run. This screams bubble Like, 3. Lol That’s mad! Props to you OP! A keyboard w/ pre-set functions R/algotrading AI trading Ask ChatGPT to make you a pinescript code to enter on tradingview. All you need is the right strategy that's performing well. gold I work with tons of clients like this. One of my clients is worth over $100M and lives in like a $400k house driving a Lexus. It’s pretty amazing seeing the difference between clients like him and some of my other clients that barely have around $250-300k saved, but they wear all designer clothing and drive Aston Martins and Ferrari’s. It's rich people... The rules are that you can't make fun of rich people. Rich people are eccentric. Poor people are crazy. lol...I was gonna say. Yes as little as a 60 seconds. Boomer making bank kid. U just a gme diamond hand ape I use shadow cloud computing because my MacBook is from 2010 and it can’t run VMs too well eventually I’ll just dual boot my Mac half OSX half windows. I just mapping the controller to execute the default Sterling hotkeys using reWASD. I would love to learn more about the scripts for more descriptive commands. Does DAS have a bigger script community than Sterling? I do. but I primary use the controller for basic, most often used functions. 1. You’re in r/daytrading where to point it to time the market 2. SNDL is possibly the worst investment for long term. They have deep negative cash flow and just flooded to market with billions of shares in order to pay bad debt. 3. If you knew the drop was inevitable... why didn’t you sell lol definitely a respectable strategy. ✊🏾 That’s how the markets work. Inflation and Deflation. Yes the dominoes with collapse again at some point in time. Then they will rise once again. And when they do they will call it a “Bubble” again. It will always expand and contract. Such as most things in this reality. So chill with your fear mongering bubble talk and get with the program. Let’s get this bread my dude. Yeah, but not by much. It's one button press instead of two. And I find them easier to remember. So for example the left trigger is programed to output ""Ctrl - B"" for buy and the right trigger is programed to output ""Ctrl - S"" for sell"" r/algotrading What’s the point? Why have all that wealth if you’re not even gonna spend it. An Aston Martin is the difference between passing down generational wealth and living your best life. Hmmmm does your client live in Minnesota? all I want is a 90s Lexus. Betting 10k to make $400 lool lmao. +Upvote for boomer. Thanks for this, I'm planning on joining cmeg this is a great set up. Thanks for clarifying, I believe DAS has more but I could be wrong. I moved to DAS because they allow trigger orders in the hotkey script and also being able to buy/sell at mid spread scripts. Wait “Deep Negative Cashflow” 🤔 aren’t they projected to have positive cash flow in a quarter or two based on their past previous earnings reports. I think they’re poised for positive growth in the next two years. Fair enough, I didn’t realize this as I’m not a subscriber. This came up on my timeline. Take care. “Fear mongering bubble talk”. No not really. But by bubble I’m referring to the fact that millions of new investors have been brought into the markets over the past year, millions more were pulled in through the mass media attention GME and others got this and last month. New money tends to be not so smart, and not so smart money is where I tend to categorize VR trading and PlayStation controller trading. It’s just excessive and unnecessary. Just general shittery tends to contribute to pushing it all over the edge. And it’s just another karma whoring to follow the VR one. Here's a sneak peek of /r/algotrading using the [top posts](https://np.reddit.com/r/algotrading/top/?sort=top&t=year) of the year! \#1: [NEW RULE: Anyone found pumping stocks or bringing attention to individual tickers will be perma-banned. We are not WSB. This is an algo trading subreddit.](https://np.reddit.com/r/algotrading/comments/l9k2pl/new_rule_anyone_found_pumping_stocks_or_bringing/) \#2: [Would anyone be interested in a beginner series of posts?](https://np.reddit.com/r/algotrading/comments/i7fu9r/would_anyone_be_interested_in_a_beginner_series/) \#3: [Some of my algotrading/trading book collection](https://i.redd.it/x2jnbmtaz5h51.jpg) | [108 comments](https://np.reddit.com/r/algotrading/comments/ia6wrv/some_of_my_algotradingtrading_book_collection/) ---- ^^I'm ^^a ^^bot, ^^beep ^^boop ^^| ^^Downvote ^^to ^^remove ^^| [^^Contact ^^me](https://www.reddit.com/message/compose/?to=sneakpeekbot) ^^| [^^Info](https://np.reddit.com/r/sneakpeekbot/) ^^| [^^Opt-out](https://np.reddit.com/r/sneakpeekbot/comments/joo7mb/blacklist_viii/) I think a big part of it is peace of mind. If you know you have $100m in the bank, you basically don’t have to give a fuck about anything. It’s beyond materialistic items at that point - you are just completely immune to a massive amount of bullshit and stress. For those who don’t need the biggest and best and flashiest, this is plenty. And even as someone who is admittedly materialistic, there’s something to be said about that. Nope. He’s in Georgia. But I wouldn’t be surprised to find people like these all over the world. Your stop loss is super tight Last quarter they reported a net cash flow of -$15mm. A net operating cash flow/sales of -163%. And a net income “growth” of -215% https://www.marketwatch.com/investing/stock/sndl/financials/cash-flow/quarter I still encourage you to read up on the fundementals of SNDL. I mainly invest long term myself. There’s many other high quality companies you could better allocate long term capital to. Yep it’s called a paradigm shift. The markets are more easily accessible now for pretty much anyone with internet and a device. Who knows what to expect in this day and age. All I know is I wanna get in and out of this volatile unpredictable market with maximum efficiency and make profit in the process. but I’m turning this sub into shit right? You only need 5 million for all your nursing home needs for 20 years, you and a spouse (That's a beach-side resort one, no less) It’s not decreasing each quarter? I could’ve sworn they were out of debt. I have my hand in a lot of stocks, especially in the weed sector. My portfolio in the weed sector is up almost 250% this month even after the pullback. And that’s only my first month of trading weed stocks . Again, I don’t try to time the markets, especially when I’m already up in an industry that’s only set to get bigger, and you locked yourself in at some of the lowest trading prices. I’m sure I could have sold at $4.20, but I don’t support Pumping and Dumping just to make a quick buck. I’m sure I could have bought more as well, but again my cost average is so low, that it would be stupid to sell off. I’m not trying to support a P&D everyone’s so active to try and hype on. I always do my DD before putting my money in, but I think I’m doing ok so far. Thanks for the tips. No I just like to think it’s a shitpost, that doesn’t contribute much to the sub, ya sure its cool but it’s not viable. If you really wanted to get in and out you’d use hot keys like anyone else lmao not a controller, you can’t tell me it’s about efficiency. Idk man I just think there’s so many better weed companies you could invest money into. Sndl is a penny stock for a reason Dude get a life. You’re really arguing the viability of my trading method just because your opinion is that you prefer that trading with hot keys is more efficient for you. Well maybe trading with a controller is more efficient for me. Bruh stop hating 😂 The only shit I smell on this post is your negative disposition toward how I would prefer to trade. As you can see, other people would like to know how to trade like this. I think it’s an effective method. You think it’s an inefficient method thus you deem it a “shit post” yet I doubt you’ve EVER traded this way so you’re only speculating. Thus you sir are a disparaging hater. I just resent the same message a deleted because it had spelling errors. Good day sir. U/phatphuk is just a troll who bought 500 shares of GME at 450 with his hotkey. Nothing wrong with innovation and nothing wrong with sharing it with Iike minded people on a forum. Trolls will be trolls. Oh ya delete the whole paragraph you wrote before just to rewrite it that’s so fuckin jokes. Imagine stating somebody doesn’t have a life just to type 100 words, go back 10 minutes later, delete it, and than go type another. Hop off my dick. Speculation this, speculation that. You don’t have to be a genius to assume that a keyboard and mouse, with hot keys, provides more than a controller with 18 buttons. Ya no, because I read it, you completely shifted it and that alone proves how invested you are into this banter. ✊🏾 Actually, with a little bit of setup, any key combo could easily be mapped to the controller. The controller ergonomics shit all over your crusty keyboard too. I think this is great. You seem stale and stuck in your own bubble. Good luck to ya. How about you hop of my penis sir. You are the one who decided to poopoo on my post. So its physically impossible that I was riding on your penis." Is anyone trading while holding a 9 to 5 job?,3419,https://www.reddit.com/r/Daytrading/comments/lhk49b/is_anyone_trading_while_holding_a_9_to_5_job/,"I'm in a VERY similar position; I'm also a dev in my 30's looking to break into day trading. I don't have much to contribute other than an upvote to help with visibility. I'm here for the comments =) I recommend mastering swing trading over 5d,1W, 1-3-6M and learning algo trading to program the same into an automated strategy,I found python and associated libraries to be useful ( software consultant turned algo trader with modest monthly earnings) Yes and my 9-5 is costing me money Research and build watchlist and have it ready in the morning At 10-11 I watch my phone closely for buying opportunity. At 12-1 I look closely for my sell opportunity. Once I buy, I put a stop loss and a sell limit. Do my thing, sometimes they sell by the time I check, if they haven’t, I readdress the chart and momentum.. most of the time I just sell and call it a day as long as I have enough profit there. Not financial advice, but an easy way for me to handle it. I could profit more, but I’m comfy. 8-6 but yes I’m an electrician, and everybody knows Kris is going to check something at any minute. 1) Don't let your boss catch you day trading 2) Do your DD after hours. Get a game plan for what stocks you're going to play on a given day. I place after hours limit buys that I know won't fill and then I either fill them pre-market or I take a ""bathroom break"" at 9:30 for my OTC's. 3) Set up stop losses as soon as your order fills. I will allow myself to lose 10% in any position, but no more. That's my personal cutoff. 4) check your positions as you have time to. If you know you're going to be absolutely slammed in a given week, look for mid-long term plays, or just dump all your funds in QQQ/ SPY/ ARK until you know you'll be less busy and pay more attention to it. I've been day trading since mid January, and it really is a damn good feeling pulling in more in one day than I make in a whole week at my 9-5, but if my boss knew how much time I was messing around on TDA when I'm supposed to be working, he would shit an absolute brick I'm a university student in the UK with a 4 day a week pizza delivery job from Tuesday - Friday that goes through pretty much all of the market hours bar the first hour. I'm more of a swing trader than a daytrader though so I'm not jumping in and out of stocks multiple times a day. Sometimes I have to make trades in between deliveries and maybe miss the best exit point but it is what it is I've been making bank in the markets though and if I keep it up for another few months will probably quit my pizza delivery job even though I kinda like it. Yesterday I made 3x what I make from a week of pizza deliveries in one day from the markets. Crazy times Use thinkorswim for research. Start to become familiar with building studies. Set up a chart that compares the 20 day EMA with the 50 day EMA; when the 20 is higher than the 50, that’s a buy sign. Watch for high ADX in stocks trending upward. That’s a buy sign. Ask me any questions. I recently became a stay at home mom but have been more then restless about not bringing any money into the family. I’m slowly getting into day trading learning little bit here little bit there I unfortunately don’t have any advice but i wanted to throw a comment in for visibility. Do it the easy way...sit on the throne for an hour everyday from 9-10...use your phone to trade, look at charts right at open, set some alerts to make it easy on you...alert dings, look at chart, if you like, buy...if it is just a spike, wait. I work nights, single dad, in my 40s, after i get my kid to school(yes i have custody) i look at charts, so far i have turned $200 from christmas eve into $19,000...mostly options...i have only held a few longer than 1 day. I made around 2,900 today. I am going to bed now, so i can get my kid at 3. Best of luck to you! Let your phone make you money while you keep your day job, if i can do it, really anybody can, that has the will. I have the 8 to 5 job, as for learning I think it is actually a benefit. I am mainly do paper, but will occasionally buy a stock. But I do my trades and then I focus on my real job and try to keep from watching the market flux. Helps teaches me to keep my emotions out of it. I do set up times to check where I am at and see if there is something special. But I am learning to trust my orders and when I do make spot checks. Then after 12, I know what I have done is enough for now and just focus on regular work. I’m trading while looking for a 9-5 In my upper 30s here and been working remotely but it's still a soul sucking IT call center job so I definitely wanna stay remote post COVID and not go back so I am wanting to break into trading as well. Finding myself having to be careful because I don't want to get distracted while at work and make a bad move/trade. That's been my biggest issue. I found that if I was in an open trade it was nearly impossible to continue being productive in my day job as a software developer. But everyone is different. Turns out I’m also a horrible trader, so it all worked out lol I have a full-time job so I can't really day trade. I'm more of a 3-7 day trader. So I try to look for something that grows more gradually but faster than this APPLE bullshit. (eg UPWK) I look for stocks that went up quickly then down the next day when there was nothing wrong with the company and people are cashing out. I find that those tend to grow. (GEVO, ZOM) work 630-3 as an aircraft mechanic and fortunately I have union breaks that happen right at peak trading hours . Your plan to build positions in a 3-5 year span is right imo. We are on a very bullish market that somehow someday will stop. I started paper trading during first confinement and now I've got a new job and it is more difficult to prepare trades because of my schedule. I'm european so the market opens at 2:30 pm for me and closes at 9. This gives me some room to work in my positions at the end of the working day. Opening has been a bit wild too but if I have some project to deliver and cannot make sure I'm at the computer right on time I prefer to lean on my safe bets and be happy to gain 1 or 2% and lose that 20% spike of more volatile tickers... I am currently working in the field as a construction worker in Texas. I am 23, have 2 kids, a wife, and attend school full time and I find the time to look into stocks and do my research because I truly believe this will be the only way I’ll have financial freedom and enjoy life with my family. The more I get into stocks the more it is consuming me. I hope I can do this for a living. If I can do it anyone can! Good luck!! Every one in the news talks about ""retail investors with stimulus checks are driving up the market""... I find that highly unlikely. I think it's more of people like us... 30's, WFH, nothing to spend our salaries on bc of lockdown. I wonder what kind of long-term trends this will create 🤔 I'm lucky enough to work nights, so when I get home I can prepare for market open and have a day of trading before bed I will suggest using theta strategies to make some solid income. You won't have to be looking at stocks all the time and limited risk(depends on the strategy). You could even live off of it if you're good enough, although you will most get bored at home doing nothing all day. get a job at chill place like bank, insurance company where you can work 3 hours a day. put your work laptop next to your trading monitors and just be ""present"" I’m a physician. I make about the same number of trades per day as patients I see. And I see about 15-22 patients per day. If you live on the east coast it will be very challenging to day trade while holding a 9-5 job. I’d recommend trading futures or swing trading since they can pair with a job relatively easy. (Futures before or after work since they’re open 24 hours) (swing trading throughout work assuming you can go on your phone every few hours to look at the candles or enter/exit a trade. Make sure to set alerts in different places like price targets, stop losses, area where opportunity will strike, etc..) I’m a superintendent on a construction job. I work from 6:30 til 5 or later. In my early 30’s. Work full time as accountant. I tried day trading but it’s just too much to worry about while at work. I started swing trading and haven’t looked back. Just start by leaving yourself 1-2 hours a day for trading (you could start with 2-3 days/week. During the first weeks only observe. Get into some filters, check the most active stocks, check different price ranges (you could change those ranges every couple days). Try to find patterns during those hours, understand the market activity, how different stocks behave. You will eventually find them. Once you got a couple of these patterns and had an idea about how to trade them, make 1 trade a day with that. Only one, and study what happens. Why it went right, why it went wrong, what changed along the way, what could be done better? , maybe another entry point, maybe an early exit, etc. When you got like a month with that, you can increase your trade number to 3, then to five, and then to 10. Always analyze every single trade like a battle. Always trade during the same hours, with no stress about your main job. Once you got it right and started having a good win/lose ratio, extend those hours, make it half a day every other day, and so on until you feel that you are getting good results constantly. Don't get into swing trading unless you have money to spare specifically for that, it's riskier since you not gonna have all the time in the world for exiting in time and cutting your losses, you gonna get screwed more often. At least not until you found multi-day patterns that you think are worth trying. I worked In consulting for a federal contractor. And it was Meetings all day galore. So one day I switched over to selling monthly options on dividend stocks that I don’t mind owning. I earn a few extra $hundred per month but it’s taken my eyes off staring at the screen all day. I have a lot of tips: - Be an investor or a day trader - but not an emotional gambler. - Buy 1 or 2 stocks max. Make bigger plays, with less stocks, more often. (If daytrading 1% is big. If swing trading 20% is big) - Watch your stock charts. Watch them until they speak to you. Use candlesticks. - Mitigate your losses as much as possible. - Don’t get greedy. Remember - Hogs get slaughtered. Good luck! You dont need 3-5 years, to make money in the stock market, trading is difficult at the beginning , but not quantum science, Practice on demo accounts, learn from other traders on YouTube, or whatever source of information catches your eye, don't listen to the classic idiots who always make up the ""90% failure story"", and have your goals well established, I was able to do in the futures market, in less than a year, today I am profitable, if I can, you too, by the way, we are the same age. I'm 32 in Mechanical Engineering. I'm at the ""mid"" level myself. At this point I can advance to senior design, or management. But I personally like trading more than engineering. I'll be doing both for awhile and see where things go. I work in IT. I automated most of my job with scripts so that I can spend my time at work ~~losing~~ making money. Your are literally me. 32, software developer, day trading while also working a 9-5 from home. To just put out some figure. Since Jan 1st I've made about 6-8weeks equivalent in pay from trading. Granted I work a shitty job but still. When you factor the amount of hour I put into my group then it becomes opposite side of the spectrum but oh well. Gotta do what you gotta do for the boys. Yep. 32 sales rep working from home and day trading at the same time. Love it. I work 50-60+ hour weeks and trading using an option selling strategy. Takes quite literally 2-3 minutes of actual trading per week and the income rivals what I get from my job. Can’t see myself trading any other way Do not daytrade while working a 9-5, I recommend swing trading instead. I tried day trading and it's hard trying to focus on that chart with no interruptions. I always got interupted because of meeting and helping. Swing trading allows you to focus on your work without worrying about missing your day trade. Hope it helps GL! $UWMC to the moon! 🚀🚀🌚🌚 I am quarantined for the last week because I got a positive covid test, and it has given me the time to trade like crazy. Turns out I made more money this week than I ever do in a week at the job. I know this is a historic bull run, but the thing is I only take home around 1600 every month from the job, and Im pretty sure that with the right trading strategy I can make at least that much selling pretty low risk credit spreads. I'm still bound by the PDT rule, but I don't think I'll still be at the 9 to 5 once I get the account to 25k. It really depends on your time zone and industry. If you're based in the pacific timezone then you can wake up extra early and trade the opening hours before you have to clock into work. If you're like me, someone who worked in high volume sales in EST, then it's virtually impossible. You might wanna master swing trading first, if that's the case. You definitely want to have enough money saved up for rent, bills, food, etc. as well as extra capital to re-inject your account as you most likely will pay, as we like to call it, tuition to the market for a good while before you become consistently profitable. [deleted] Set limits on when to sell, and be willing to lose money. Unlike daytraders who do it as a career, we can't keep a constant eye on the tickers. I myself am a groundskeeper, I don't have unlimited data and I can't have my phone out all the time like my buddies who work desk jobs do. Also do your do diligent research and don't get swept up into fads and frenzies. That was my number 1 rule when I started, I broke it once when the who GME thing exploded. I sold my entire portfolio for 5 shares of GME when it was at one of it's highest, thinking I could make a quick buck and rebuy my original standings. Unfortunately it dropped down to 70 when I decided to jump ship and now I'm trying to rebuild after losing A LOT of money. Your best bet is to take it slow, invest into secure companies at the beginning, then when you have established yourself start taking riskier chances but always have and exit strategy and always be willing to lose money. Yes I work daily and am totally addicted to trading and investing. 👍 Edit: sorry m8t. I forgot to tell ya my career is transportation, I am a truck driver. When I have sit still time is when I trade. I know by time news is on news it's old. But that's all I have right now. I try to keep up with y'all for tips and listen to news. I just bought toyota shares as they have three electric vehicle coming out. 😉 I have 2 jobs at the moment and still find time to trade a bit. I can only buy leaps... basically anything that doesn’t require my full attention, and I try not to check on it obsessively, but make sure it’s on track. On my days off, I spend time researching stocks that interest me or teaching myself how to use new indicators. I have the same problem as you in that I feel stuck in my current positions... I’m finding more and more every day that my degree is useless to me (anthropology...ya...) so trading sort of offers me this little sliver of possibility. I’ve only been doing this for about a year now so I’m nowhere close to the level some people are at here, but I just try to keep learning every day. Maybe one day it’ll pay off. Good luck, friend. The world is your oyster :) Totally doable as a swing trader. Scan stocks at night or before work, identify the entries and exits you want to do the next day. Depending on your time zone you can make trades in the morning and/or at lunch. Daytrading can be a bit more difficult and is highly dependent on time zone. I live in the mountain time zone allowing for a solid hour of trading before meetings start in the morning. I will also trade during the lunch hour on some days. But most of my profits come from swing trades. I wish I was a dev... I lack the social skills for just that lol Director at big corp managing EMEA, Europe based. I study the market an night and sundays and leave my orders to be executed during my night time, when markets go up/down bubble style. I'm in the exact situation. 30 y old, programmer and trader. I have a slight advantage as I am on the west coast. I use pre market and the first hour of open trading to set alerts and limit orders. Then I time my lunch to close so I can set after market orders. I've had some good returns but nothing I would be able to quit over. I trade and work. My boss probably doesn’t like it lol. But whatever. I don’t get paid enough to not try and make more $$$ I have an unfair advantage living in Hawaii. I can trade from 0430-0630 and still make it to work with breakfast in my tummy. One thing is recommend for employees but also business owners is trade the 4-hour charts. You will almost never get stopped out on news or rollover/end of session volatility, and you don’t worry about any alerts or positions during your work day as you will “only” be away from the charts for 2 or 3 candles. We have found this to be not only productive and profitable, but it makes trading “care free” as you don’t have to hover over the charts all day. Hope this helps. Trade well! -Anthony Similar situation here too. Feed me with your knowledge people! Samesies Yeah. But I live outside the US and markets open at 5:30 pm just as I leave my day job. I go home and day trade until about 10 or 11 pm at night. 30+ Random tech lead here 8-5, I started investing two years, mostly long term holding and swing trading which fit my time. While accumulating more knowledge from the swing trading started to sketch up some kind of algo to give me signals for more frequent trading after half a year what I can recommend: - Get the basic knowledge on bigger time frame. - Either create a signal generator algo (best was python for me) or just use tradingview's function for this. - Choose a timeframe which fits your response time (I've tried 5m but when I get the notification during a meeting I'm doomed) - Don't try to automate the trading itself from the beginning, you will need to sink a lot of time to be profitable of a completely off hand algorithm. I switched from direct corporate employment to contracting in ASIC design. When I'm not contracting I'm taking time off to enjoy life and trading when the setups are right. While working direct I would try to trade with some success. It's much more difficult to put your attention and trades on time constraints. You'll lose a lot trying to fit trades into your availability and trying to force trades you shouldn't be taking because you have some time. Especially when you're starting out. On contract I'll trade the right setups when I can take my attention away from work for a while and there's nothing urgent that could possibly distract me or pull me away. Certain trades I can work while having my trading display in my peripheral. Regardless if I'm 100% on trading or doing it on the side, I've learned not to look for trades and instead to find the ones that shouldn't be passed up. Between contracting and trading I can make 2-4X my direct annual salary, but I can do it in 6 months. It's not something to assume you'll be pulling off from the start. It takes a lot of learning, discipline, and conditioning. All of that usual comes with significant losses and fuck ups. And the market is always changing, so having a good streak on a strategy isn't good security for betting your future on it. Completely unrelated and probably unwelcome advice, but have you considered going freelance? I work in the recruitment industry (not a recruiter), and I'm CONSTANTLY seeing software developer roles here there and everywhere for big money. Might be something worth looking into. ​ Freelance = short term contract = no need to work on them social skills ;) I'm trading while working part time. Single dude who lives modest on my own. My trades are all done in between games of PUBG or Call of duty. It's pretty chill Also a developer who works from home, side hustle is day trading. Just remember that you’re going up against the most sophisticated computer system’s the world has ever known. It’s almost impossible to profit on any large scale and involves a lot of your time learning strategies and techniques just to be able to see returns. With that being said.... get it!! 💸💸💸 I sell covered calls n cash secured puts weekly Not as much active trading though Not technically day trading yet as I'm not at 25k in my account, but I work as a custodian at a university and run a cannabis delivery service. Most of my trading is done on the clock at the University since I've got so much spare time. Best advice I have is schedule your morning poop to be the same time the market opens. A little younger at 26 but still very much interested in thisssss. I’m a professional portfolio manager and I do a little bit of personal day trading on the side, mainly options. My clients are more long term (more or less buy and hold types) but I get access to paid research that’s hard to come by on my own. I have to report my transactions to my firm but I’m able to do both easily. I’m trading while in school (7-2) I work 3rd shift. 7pm-7am. I stay awake for a bit to trade before going back to bed. New to all this to but I’ve made some decent cash recently so ima keep at it. Yup. Well, not exactly good. I work a job we’re I work 40 hrs in the winter and 50-100 in the spring through fall. I got into stocks last December. I try to watch learn stocks from subs and then do more looking and reading through comments on yahoo finance to see if I should buy. I still have no idea what I’m doing and have stress sold a couple times that was dumb as hell. Luckily ZOM was just getting brought up and I got like 400 shares and it’s kept me going. I just don’t know how to find stalks before that are already rocketing. Yes. Started with $500.00. Add $100.00 weekly to my cash account and invest it. Haven't sold much yet, except losers. I'm up 130% on my investment in about 9 months. Do your research on the weekends I trade with a 9-5...corona WFH helps with that ;) . My advice would be to be VERY PATIENT with your entry points. With much more solid, good entry points you can be away from the 'trading desk' with much less stress and less distraction from your actual job. Basically, your trades will take care of themselves. Other than that, ALWAYS use a stop loss (protects from big losses and helps with distraction/stress) & let your winners run! GL - Keep us updated. I deliver for Amazon, i trade at set time during my day with alarm on my phone to check in the apps and view movements... I do not own any Amazon stock thou hahaha I’m a union carpenter I’m only 23 but definitely not looking forward to doing this all my life. On top of that I work graveyard. I just started trading using a platform called IM Academy a little over 2 months ago. I pay for the service monthly but it’s worth it. The platform also gives you access to the same analysis that the educators are given access to so they teach you how to use them. You get to go live w Educators who take trades and explain why they took those trades. Took me a minute to get the hang of it but towards the end of last month I started to get the hang of it and had my best week making about 700? So now I’m got to the point where the platform pays for itself on one good day if not then 2 days. If anyone’s interested in joining feel free to comment or DM we have a group chat to help all our new comers along the way w the journey. Since I do have a well paying job I’m hoping I could just let my broker stack and be financially free by 25. We stick to script of trying to gain 8-20% of whatever in your account a day whether it be $100,1000, or $10k the goal stays the same. I'm a Wind Technician and work 50ish hours a week. I sell and rebuy in the morning and then check the next day. Research in the evening and just constantly cycle like that. Works well enough for me! The thing is, any trader needs a stable income to supply their trades with capital Yup. pot stocks. I day traded whilst working and it isn't easy. My suggest is to swing trade where its over more days and make sure you use stop losses and take profits set up so it does it automatically for you. Trailing stop losses are a must at times. Otherwise just trade long term. 9-5 software developer too! I tried day trading, but found I couldn't get both done well (the job and the training). I have since changed to swing trading. And seem to be having more success, because I can invest an hour here or there as my schedule allows. Swing trading is your ticket :) I work a 11-11 job in engineering. I day trade while working a regular job. I work from home though so it makes easier. I have my trading platform and screeens at my desk next to my corporate set up. I try to make one or two good trades a day with a profit target of $600 to 1200 a day. I can usually do about 1k a day but today im underwater 1.6k. Bummer. I scalp in the morning when the market is hot for the first hr or so then get back to work. Edit: also a dev. Yes but it’s not easy. You really need about 30k in play to keep the ball rolling day to day. Start small and keep small objectives. Mine was to see if I could pay for my lunch every day while building enough reserve to day trade. The important thing to remember is that trading stocks is effectively gambling. Don’t play with more than you’re willing to lose. Similar situation in healthcare. Giving you an upvote for support! Dev here, 9 to 5 and trading. Watch out my dudes. Follow your dreams. Also day trading takes a different kinda motherfucker. So many developers in their 30s trading. I'm in the same boat. Basically dick off trading the first half of day and do your job in the second half. If you do scrum/agile like I do, it's pretty easy just to stay ahead of your sprint work and trade when u got free time. Also I recommend options over day trading. Then u don't have to babysit ur positions as much. But I suck at day trading and it's been mostly red for me. Lol. 32, divorced, kids...work as a sales manager for a car dealership. I started trading 2 months ago, just during slow days and days off and it's become an addiction like everything else that produces even a hint of dopamine in my aging adhd brain. Invested about 2k in 200 to 500 dollar increments over the first 2 weeks and then things started going very well. Just under 2 months in and finally broke 17k today. Lots of reading posts from reddit and stocktwits, siphoning through what I judge to be horseshit based on absolutely nothing except my own gut feelings and incessantly googling companies that spark my interest. I didn't have any GME or AMC. I lucked out on Jan 28th and got into some doge literally as it skyrocketed. Took profits of 1000 dollars twice and then moved it to the shares I had. Biggest players in my gains have been ZOM, CTRM and the aforementioned dumb luck with Doge. NAK played out very well me over the last 2 days, once again, just happened to throw some money at it under .90 and timed it right as it started to climb, again, dumb luck. The biggest thing I've tried to remind myself of is that what happened probably isn't normal and I need to avoid letting myself get too expectant of massive gains every day. It seems like the market we are getting into is in an unfamiliar state to everyone involved and should be perused cautiously by those of us with more to lose when it comes to red days...or just throw money at whatever shares you see that have the most 🚀🚀🚀 next to them on social media posts...although , for me, that method has just led to more of a 🚀🚬🚀🚬🚀🚬🚀 pattern. Maybe I should invest in Phillip Morris... Be careful, newbies. We’re at the absolute peak of a bull market where everyone looks like a genius. Don’t gamble too much. Reddit is being data mined on a minute by minute basis by hedge funds looking to cash in on your DD’s. They don’t care who they send to the poor house. I day trade at my 9-5. I have a desk job with two monitors. I do most of my hw before and after work. At work I set up multiple yahoo finance tabs with the tickers I’m interested in (tickers show up on the tab) and then put the window behind my work. After that it’s just set your limit buys and sells and keep an eye on your tickers. It’s been working well for me and I’ve been able to balance it well although I should point out my boss is aware and doesn’t seem to care so that’s helpful. In for the advise as well Teacher here, I got three screens. One for Zoom, one for screen sharing, one for Webull. No I quit. I trade during the day and work nights and I love it You should look into swing trading for now and see what happens. Play small. And on the topic of trading for a living, im trying the best I can to make it a reality ATM because the thought of just working til I retire and then being that old guy with money and just buying gifts for family and being a stick in the mud is not worth any of the wealth. I rather be average and day trade vs. financially above average and depressed. 30's noob here, like most people I just want to achieve financial freedom and the idea of being able to generate income from anywhere in the world without having to slave away hours of my day is why I'm here. I have become passionate and enjoy the market. Currently swing trading since June started with £8k now at about £60k and have a goal of hitting triple digits this year. I have recently decided I want to get into day trading and quit my day job. I'm not really a money motivated person, but I am time and freedom motivated and money is just the tool to give me that. I wish you all the best, let's go achieve our goals! I have been day trading off and on for 3 years holding a 9-5. I try to organize my calendar to know when I can and cannot pay attention to the market, my goal is 500/day with 40k contributed. I wanted wiggle room on the 25k liquidity for PDT rules. My general rule of thumb is get out of the market before meetings. I lost about 18k holding options long for the week, my exit point during meetings would've been 4k profit, but couldn't get out and held to expiration. Stocks wouldn't be as worrisome. I typically buy in small increments. 100-200 bucks per purchase leaving a lot of room to average down/up depending on short/long position. If I end up with too much money in the market as it reaches BE I'll reduce my exposure back to 1-2k dollars. Limits risks, but limits gains as well. As a coder, I recommend getting familiar with websocket programming to do streaming. You get far more exposure to stocks and opportunities that fly under the radar. If you cannot pay attention to the market, you are at the mercy of whatever the stock does, that's what a 401k is for. Hope it helps!! Hi, I’ve been wfh since March 2020. I basically neglect work until after lunch time then get caught up. Nazi’s want us back in the office June 6 though. I’ll need a plan for then. Maybe swing trading. Trading is a full time job. I trade while at work. I don’t perform my actual work task until after market close lol. READ UP ON TRAILING STOP ORDERS. They will save your patootie hole. did this for a while, helped a lot by watching the money shows on cnbc Sndl 🚀 🚀 🚀 Yes. Check out The Stock Whisperer Stefanie Kamerman; Stansberry Research (they've got a trading service you can subscribe to); and if you want to be a great investor, follow Matthew McCall. FT job as engineer here. There seems to be volatility in the early hours of trading. You can make quick plays there and be done for the day. For example, I got in on a certain weed stock at ~60 and got out at ~67 within minutes. The profit was enough to cover a few days of my daily profit target. Good luck. You can try swing trading first. This is a more hands off approach to trading that allows you to enter the market without having to be tied to your computer screen all day. This is a good way to get introduced to the markets and have your money grow while still maintaining your 9-5. You can also spend your off hours working on your day trading strategy by back testing rather than paper trading. I also believe there are simulators that run a simulation of that days market, you can enter paper trades in what feels like a live environment. This is just something I heard of though, I don't have much information on it. I actually go to work at ~4am and usually leave at 9 right before market open, very convenient. No advice to give, good luck YUP ! Who’s asking? Dave? Is that you, I swear that reports already done, also did you approve my request for another monitor? I know, 3 is already a lot but, a 4th would just maximize my workflow. Very similar situation here. 28 years old, getting into investing. Background in IT and Entrepreneurship (software/solutions architecture). I’m currently developing my trading plan and have started experimenting with algorithmic trading. For me, it’s the creative part and looking for ways to extend my reasoning to other fields. I’m looking for a possibility to make algo trading more accessible for retail and am currently setting something up on MS Azure/serverless to make this functionality available as a platform (API). Think of Quantopian as a service. Please ping if you’re also interested in this field. Would love to share some ideas. I've been doing a similar thing for the past few years but as a university student so my hours are a bit more flexible. Something that helped me was focusing on a specific strategy and sticking to it. Whether you're looking for gap ups on the open, longer term swings, short-term scalps, that's all personal preference. I think in trading mastering a strategy is more important than knowing how every possible strategy works- but if you're inconsistent with what strategy you use you never become fluent in one. You'll only learn the nuances if you build experience and stick to it- even if that means getting bit a few times I found momentum trading the best if you don’t want to be stuck to a screen. TechnicalTraders.com is good There are 10000s of people doing this. It's tough but you can make it work! Yeah, I am a SQL and website tagging specialist too. I get up at 6.15am every morning to trade the open and then again trade the close during my lunch. Come out to the Silicon Valley or Silicon Beach and you can get the best of both worlds. Living on the west coast is optimal for trading and having a 9-5 Remindme! 2 days I am in the paving industry and I love to trade Ha! My workday starts at 9 and ends at 20.00 And I'm into trading (not everyday) I’m not getting big gains In money but percentage I’m killing it. I started learning about a year ago, doing lil tease arch here and there. And now I’m up about 180% of my money. We’ll make it eventually! Let’s keep this up and get closer to the million! I work from 9 till 5 and trade on the USA market that opens at 15:30 till 22:00. Just trade in a different timezone and you will be able to daytrade as well. I'm also in my 30s, working logistics 9-5 and trading I work at a software company and take calls, while I’m not taking calls I’m betting my paycheck away on Webull LOL I'm 25 Yeah but I don’t consider myself super active though I average around 5k monthly, so nothing insane but good overall I think. Mad that I miss out on some major gains cause I take profits a bit early but at the same time I have a 20% loss maximum for a trade so there’s that. I work in cyber security so most of my job is relatively easy once you know what you’re doing and really the only days I stay out are the days I have a ton of work so I try to catch up. At the end of the day I don’t think I’d be successful doing this long term as it’s my side gig while I prepare for grad school. If you’re looking for jobs to hold while doing this on the side tech is where it’s at, gotta be careful you’re not customer facing though cause if you are then you’re expected to get back to your customers super quickly, for me I get back to them within the day/week. So I’d suggest cyber, dev, maybe cloud ? But I don’t think going for like net, or sysadmin positions are gonna give you good free time. Yes, the market opens about an hour before I work. I make sure to be there at open. Most good plays happen in the first hour or so. I joined a group that signals and learn from their strategy. I am in early twenties and never held a day job I started with this and I am successful I teach at a university, so not exactly 9-5, but still a professional job that isn't finance. I'm also in my 30's. Unless I get a doctorate I'm more or less at the end of mh promotion potential. I'm working on another master's now with the goal of getting said doctorate after that. Trading is something I like to to to try and make extra money. It beats publishing papers. I am a project manager working 6:30am - 3pm Trading off and on the whole day. Making money pre-market...and giving it all back by 3pm! I'm in a similar position to you, I am a software engineer who works 9\~5. I'm in my early 20s so maybe I am naive and this will never work, but here is my plan (hopefully this helps you): \- Develop an automated trading system (I've modeled mine so far off of QuantConnect, so using a blend of C# and python... I'm a big C# fan and python is the datascience king, plus if I ever really feel performance is an issue on something C# does a good job of interfacing with native code) \- Develop a Web Dashboard [Asp.net](https://Asp.net) hooks into C# nicely and makes a lot of this simple This is key, my plan is to have a lot of my algorithm's be semiautomatic. If you go to r/algotrading there are about 1000 people there that will happily tell you none ever makes money doing it. Sure, not everyone will, but its possible. My thinking is to start, use software to help me identify setups to trade, and then basically have them come across my dashboard in real time. For example one trading strategy I've been watching is the 3 bar play which is a movement on stocks. My goal is to notify myself when there is an opportunity for one, and let myself execute the trade. The reason I bring up the dashboard is to me that is going to be key in working (and doing good work) and allowing myself to make trades when I can. I don't want to be watching charts all day when I should be working. So my TLDR is you are in the perfect field to maybe make this work. Especially if you are going to 'daytrade' and be in and out of positions a lot 4am - 2pm but im right there with yall. Soon as 930 hits i take a lunch now lol Buy low. Sell high. Shortly before New Year's this year I decided I would finally get serious about getting into day trading stocks, something I've wanted to do for years. So I've gone half-time, working my regular job for 4 hours after lunch and day trading in the morning. I even came up with a [transition plan](https://www.reddit.com/r/Daytrading/comments/jz3v44/looking_to_transition_from_regular_work_to_day/). And so far, so good; 1.5 months in and I'm actually achieving some semblance of consistency and profitability. (I'm still paper trading, will gradually ease into real-money trading maybe in another month or so.) At this point I'm also developing an interest in forex. Forex trades most hours of the day so it might be more suitable for people who'd like to keep their full-time day jobs. I also find forex to be a bit more predictable in the entry signals. (Currently using a MACD strategy.) The downsides are that I'm not making as much on each trade ($40-50 on one $100k lot vs. $100-ish on a $10k stock trade), and qualifying for live forex trading with TD Ameritrade has been a pain. Good luck on your trading journey! I mostly do swing trading with my account, but I have a secondary small account I trade futures with. Most of my futures trades start & end 1 hour into the market open, and they usually can be automated. (x stock is going to go up 0.1%, then back down on open, etc). So most of the time, I get in and out of trades in minutes. So for a list of actionable tips: 1. pick a stock, index, etc, do your research. Know when it's going, where it's going and why. By looking at history, you can kind of know what to expect from the future, if the same event were to happen twice. There are patterns you can spot and take advantage of in short time frames. 2. Set stop limits, stop-losses, alerts, etc. I usually enter my trade manually, but exit it automatically, just setting a stop limit order that gets filled when my expected move is met. So I set the trades up, the broker knocks them down ;) 3. Use your strengths to your advantage. Use a paper trade account to practice patterns, then automate it, have an app/bot do your heavy lifting. That way you don't have to choose between your job & trading. It'll suck because you'll be using free time to code an algorithm, but it'll be worth it when you can just cash out. 4. Depending on your timezone, the options available to you change a lot. as many others said, consider swing trading /buy & hold, or shares + covered calls. Yep. If you do not handle the rollercoaster well, I suggest go with swings. Talking to someone about a nonsense issue on TEAMS after you lost a grand is a mentally taxing process. So make sure you are mentally strong enough, and even better, your risk tolerance is strong enough. I make sure I cut myself off during projects. So set yourself up for success. The last thing you want is to be dealing with a group project and the market tanks, and..you forgot stop loss. Be patient, take your gains, don't be greedy. Yes, but I have 2 weekdays off each week. That's when I trade. I tried mobile while working a couple times but didn't like risking not being able to get out.of the trade at the right time. Happened once, instead of making decent profit I missed the gains and it came back down and hit my stoploss. Decided not to do that anymore. Yes. Even seasoned trading pros would not suggest leaving 9 to 5 job to become full time trader. Profits and income will always be inconsistent on the market. Stick to your job for as long as you can until you figured out a solid strategy in trading to make more profitable trades vs losing money. Don’t be fooled by growing portfolio; it can disappear in a day. For real! I work in the auto industry. What is a 9 to 5? More like 7:30am till 6:00pm! I’m 38 looking for a life change! Similar here. Going to be watching this I am. Probably a safe thing to have a job when you’re just starting out. Study a Lot. Swing trades and algo trading yup I mean, during this pandemic I've been able to set my alarm earlier to look at early morning trading. Nothing crazy. The 7am-8am EST range. Make some premarket moves and briefly check around 10am to see if there is anything I want to put my liquid cash in -- especially after a HUGE bump in a stock causes a HUGE dip the next day. I see opportunity at the 10am window and I buy into that hoping it will have a rebound effect of \~3%. I'll take the 3% profit and run with it after the stock I will not name incident. At night, after dinner and before I get rid of all my screens, I browse the socials, Yahoo finance and Reddit to see what it being talked about. If i see a serious rumor floating -- I'll explore that for legitimacy and put a watch ticker on it. If it's something that intrigues me or I get a good vibe after some DD on the stock, I'll put in some money on it buying the rumor and hoping for news. Yes, and I work from home, it perfect for me. I'm working and trading right now Middle school band director, 33. It eats up my waking hours now. Haha But I’m determined because my pay raises come on an annual scale and it will be a long time before I make what I would consider good money. I wish I had gone into technology back in the day! It would have been a much easier road. But it’s ok, I’m good at what I do so I continue to come back each year. And now I can supplement the income as I get better at this. First off you don't have to go the manager route. Those guys might be doing it because they think it's the normal progression buy I assure you there is a need and a market for top tech talent that decided to stay on the tech side. You can eventually easily make a director salary with no manager expirience being the tech side. Oh I’m trying Ever thought about becoming a quant for a hedge fund? I'm a PM for a Dev Company(don't hate me). I trade all day. Some tips: I have an iPad that I only use for trading during the day. Only if I am planning on actively making multiple trades will I pull it up on PC during work hours. Try to swing trade over multiple days. Take profits when they're there. It's easy to miss a drop, so I don't get mad at the money I didn't make so long as I made money. Work is still important. We have good jobs. No reason to lose them over making an extra 25 bucks on a trade. All of my gains came from transferring parts of my paycheck into my account. It's literally where all of my money came from. That said, I'm careful of risk. That money could be in a bank and shitting it away is not the goal. I'm wary of fad stocks. Too hard to do good work and pay attention all day. If you’re a software developer it could be more profitable to get into algotrading. From least time commitment to most would be something like Numerai -> QuantConnect or Collective2 -> Alpaca -> custom sources and InteractiveBrokers API. I’m a developer 9-5 (more like 996 tbh), but spent a total of <100 hours setting up some algotrading stuff last year and now I just check on it when I’m bored. I have a screener setup on stockcharts.com that sends out an alert every morning. Plus i am subscribed to unusualwhales. Both these combined give me trade ideas. I try to close weekly. More like a 5 am to 1 Pacific time job. Scalp at open, trade for 5-10 minutes, make 1% Yup. Started a few weeks ago and still go in 9-5 every day of the week. Just doing it for a little extra money to have fun with, not as a main source of income. Don't limit yourself and do what you enjoy doing.. . Seems like most SW dev ppl enjoy coding. trading with part time job and classes Ft dev in my early 20s, my dad is a broker so I’ve been modestly familiar with stocks my whole life. The GME rollercoaster really piqued my interest in investing though, especially the algotrading parts. With some basic trade automation, what kind of profits do people see? Obv it depends on the stocks you invest in but for someone who’d just be getting into the basics, what kind of money can you make on it? I’d be interested in algotrading as a side venture if it’s worth doing Ofcourse!!! And it is fun. Money growing both ways Feels like that is the typical trader these days I do better seller options to the traders. Getting paid passive income while at work making bank I am able to only because I work in an office/warehouse environment with multiple computers where I can access whatever/whenever. It has worked out so far and I am making almost exactly what my bringhome pay is each month. But that doesn't include taxes yet. Yes, working from home at my own desk Im unemployed and want to make a living only having to trade for an hour per day Yes I'm trading while holding a regular job. Thing is.... it's not going well. YES, delicate balance indeed. If you ""like"" your day job and it pays well then learn macro and live your life. I recently started swing trading crypto again. Just shy of doubled my initial investment this morning. I DCA into stable coins my extra profits, then a % of my weekly pay check as well. Saw an average of 23% ROI over a years time in 2018. Projecting a solid 45% ROI this year with the bull market. Look at this guy asking precovid questions. Used to work at a boutique fund, but what’s funny is that i realized i’d be making more money if i just traded with my own account so i quit. Lmao, yeah. I hate meetings these days. Just let me fking trade in peace! I’m in my 30s starting to learn day trading and swing trading as well, I have a hard time right now identifying which stocks to buy, I have a small account and idk of penny stocks are the way to go or how to go about. Right now I just go by what people are recommending which is terrible but any guidance would be helpful. I would love to day trade for a career but I just don't have the account size needed to trade effectively (and as a rule I don't use leverage). If there was a sure fire way to cover my current salary every month I would quit my job tomorrow. Same,31 here and I’m new to trading. I’m still trying to understand and formulate some sort of strategy into trading. I left my job 2 weeks before the virus without realising how serious it was so trading and freelance (music and modelling) work is my only source of income. We millennials are all in this together. I’m just doing this in my free time. Hoping to make enough in the next year or two to shed my student loans. I’m a 30 year architect. We don’t get rich, ever... But luckily my job is relaxed enough I have time to trade in the morning, at lunch, and afternoon. I don’t make big fuck you trades, but I’ve been growing my account slowly and staying disciplined and don’t fomo. My account isn’t big at all, but I’m up 48% overall Yes I work for APPEN from home 8-10 hours a day. I make my own schedule working for this company and I just started trading in OCTOBER. i don't have tips to share, just wanted to say hello. I am soaking up all the books,videos, and reddit advice as I can. I started at 30 have a cushy desk job in a lab so a lot of time to do charts. I've been investing myself for a few years but after the covid crash I got into options. Made a shit ton on the recovery and then lost half of it on the june correction. Decided then to learn how to read charts, trendlines, moving averages, basic shit like that. Woo it helped, finally got a cash account. Yay now I can day trade, traded myself flat for a month or two and felt like I was doing 4x the work and 10x the stress. Decided to go back to swinging options or finding stocks that sold off and buy calls 6 months out. I honestly don't see how day traders do it with a 9-5 and be that much more profitable than trading swings or buying Buffet style. Plus if you get pulled away at work it can fuck you, like one time I forgot to set a stop loss and got wrecked while in a meeting. I get the appeal of going to bed with less stress and even swinging options I've been fucked. BABA xmas eve morning guh. Anyway I dont think day trading is for noobs, it seems fucking hard to be good and consistent and a ton more work. If you wanted to work your way into it then cool, try it out I still day trade some stuff here and there, like when weed was flying yesterday I got in for a bit and got out. I think in that way it can be good, some people seem so dead set on trading only one style or being into one type of asset, being pennies, blue chip, crypto, fx. Fuck it id trade hazardous waste and shoelaces if I thought it'd make me money. Don’t go crazy thinking you missed out on a trade. Make your plans and stick to them. I’m in the same boat. after doing so well for months I deviated from my plans and now I basically have added months to my next goal. Be patient!!! Following. WFH and new as well Yeah my guy in 29 working in HVAC refrigeration and construction... Trading crypto and stocks... It's tough trading and working physical labor but so is staying poor. I live in Toronto and the average house is about a million dollars, so I don't think I have any other choice Kind of a 9-5. Working from home but billing about 5-8hrs a day give or take. Not exactly day-trading stocks, I'm trading the equity futures, basically making what I lost in hours so it's good fun. I day trade and am a software engineer in my 30s. The main benefit I have is my company allows flex time. So I fall behind from time to time on work but can make it up in the evenings and weekends. I also only look for 1-2 trades a day, and for the most part just watch the SPY. This allows me to multitask while keeping tabs on the market. How to make money with 1-2 trades a day? Options.. I personally wouldn’t recommend trading but most likely just invest passively until your investments can handle you. You can start with ETF’s or maybe even possibly create your own with 50 stocks in all sectors. Day trading requires a lot of attention and I can’t see it be something someone with a 9-5 job could do to their full potential. Best of luck man! Started around an year ago. Job and trading parallel. 25yrs old. 31, reporting in. I actually quit my day job to do this full time. I however spend months backtesting and building a strategy and a plan. I have 3 strats that I trade, I'm now working on the mental game. Hey I've been trading for almost 6 months now with a full time job. It's only doable for me because I live on the West coast so I just get up early and trade for and hour or two before work. My schedule is typically: 6AM: wake up, check premarket on my phone, throw Bloomberg on the TV in the background, fix my kid breakfast, and make some tea for myself. 6:30AM: when market opens I go to my computer and open ThinkorSwim and pull up my charts and start watching more closely. 7-7:30AM: Start entering trades 7:30-8:30AM: Closing my trades, taking my gains/losses 8:30AM: Get ready to leave for work. In the beginning I was doing a ton of options scalping, getting in and out within the span of 2-5 minutes for quick $50-$100 trades. But since then I've slowed it down paying more attention to the 5m chart and only making maybe 2-3 30 minute+ trades a day with the goal of 3R per trade. Same bro 30 yo turd in the making Hey yes of course that is possible! Either 9 to 5 and swing trade or work part time in mornings and trade in the afternoon. If you successful in trading you can choose to trade whenever you want. I’m 27 and currently trading while working 8-5 mon-fri. I manage a vehicle collision center. I started in 2018. Since then my average yearly return has been 122% I’ve been able to make triple what my normal weekly paycheck is on average. My performance has completely fallen off and I do my job with as little effort as possible while spending all my time at work researching and making trades. I could be fired at any moment and would be completely okay with it. I planned on quitting this year to trade full time but I’ve basically decided to double dip for as long as I can. I’ve even started studying for the SIE exam and plan on taking my series 7 after to become a legal financial advisor. Currently working from home, keep one workstation set as trading station and do work on my laptop sitting at the same desk. Watch my positions and trade if needed, while working. More of a swing trader then a day trader though.. Yeah im a 26 yr old Automotive mechanic. Its a good side gig. About to quit my job honestly as im making more a week from trading . When you see posts like this, its time to sell. 9-5? Doesn't exist in my industry(industrial automation). But definitely add to my income by trading. Try to do research and set up your list of interests for the week. 8am - check the tickers you're interested in and set your buy/sell orders. 10 or 11ish, quick check on your positions and watchlist 2ish, quick check on positions and watchlist 4:25, last check of day Repeat Don't be afraid to take small profits and move on. When you can't watch all day everyday you will miss peaks. That is perfectly fine if you are still securing those profits. Automate as much as you can. Set your stop losses and stop sell limits. As a software guy, look into algo trading and crypto. Tip: no matter what you do, whether you ""beat the market"" is 100% luck-based. The market is efficient, that is every way you could cheat the average by whatever strategy is quickly canceled by the market; certainly as a single individual with very limited funds. Even if by it were possible to write an algorithm to beat the market, there are companies who work on this full time day-in, day-out, with huge budgets compared to you, and other huge benefits. You can be 100% sure that everything you come up with has been tried and done plenty of times before. So treat it as what it is - a game; a gamble; a fun exercise. The best you can do is to enjoy the hell out of having success, and to ignore when you lose everything. Which you \*will\* do. I'm 31 and also a noob looking to get into this. I made it all the way to COO and I still hate what I do. I've been reading up on day-trading for about 4 months now saving money to open a US account. Yep! I’m in a sales position and make moves in between stops. The extra income is nice and it makes the day go quicker. I work a 9-5 job and trade market opens from 6:30 AM - 7:30 PM PST. It’s very possible to do both. I would suggest looking into market open strategies that you will be able to manage during the time you have available to trade. Just got into it 3 weeks ago. Same story except different profession. I work over night as an exterminator.. its difficult Day trading is very difficult with a 9-5 unless you have windows where you can get away. The middle of the day is usually boring but if you can spend some time shortly after the open and shortly before the close focused on stocks then you can still get your money's worth from your time. Jigsaw trading. Thank me later. Winter is coming. I try with little and sometimes no cell service. Only down 4k so it's going pretty good Hahaaa, I'm also a dev in my 30's in exactly the same situation! You're not alone by any shout. Everyone should learn how to execute trades using phones. Once the pandemic is over and you go back to your desk, you’ll understand the importance of trading from your phone. Same here, except that I have already started trading and losing money consistently... Fortunately it’s a desk job...is that double dipping?! WFH remote 9-5.... mainly trade es futures. I check out the situation in the morning and have a plan of attack to implement and watch through the day. I spend about an hour in the morning blowing off work to get ready. The rest of the day is basically autopilot minus any chaotic swings. Clear a couple hundred daily. I’ll get to the point where I’ll stay at home to trade when I reach a 100k fund, the house paid off and the wife has better health insurance than I have through my job. Same..early 40’s work way too much and generally suck at trading...most of the time. there’s a bunch of us in our 30’s I’m not a dev just a financial analyst down by Wall Street lol I’m one of the good guys lol still red on GME 🤷🏻‍♂️ My ideal would have me retire within 5 years before I turn 50. Been trading on the sly while holding a day job for a few years now. I try to set myself up the night before, but I get up at 3:30 every morning to catch premarket action and adjust accordingly if need be. My typical hours are 6-2, but I often work longer hours than that. My kids are grown or all but grown, and I’m single, which helps me focus. It’s hit or miss for me. I’ve recently discovered the value in penny stocks and was shocked to make in the month of January nearly my entire 2020 gains. I invest on average $5000/position unless I feel very strongly about it, and utilize trail stops to limit my losses, but my phone is always handy and on when at work so I can glance at it and keep up on what’s going on. I semi day trade Apple Watch really helps out and I can be on my phone pretty frequently also. Still miss out on the swing trading but I can day trade I work full-time but have an odd schedule which allows me some days to focus mainly on day trading. The days where I am at work, I have most of my trades or tickers im interested already planned out and will try and execute those 1st and last hour of the market. I also set a bunch of price alerts etc which sync to my smartwatch so I track the days activities and jump on my phone for a quick trade / adjustment if needed. Swing trading might be easier to do in the 9-5 setting as you won't have to monitor the charts most of the day. Mailman here. Also in my 30s So I basically put large amount into a stock I know will rise after a dip then I trade it for profit. Then add it again . Is that making me a day trader Yes. I just started like 6 months ago. Only thing I can think of is set stop losses for volatile stocks you're in in case it drops while you are working. Personally I have some money in stocks I favor but 80 percent of my portfolio is in a range of ETFs. I am in my 30's with a full time job and own two local businesses. For those who asked on my last post to follow my progress on my strategy for stocks here is the post. [reddit thread to track progress](https://www.reddit.com/user/Some-Facts-For-U/comments/lhwx7s/testing_my_stock_strat_tracking_progress_for/?utm_source=share&utm_medium=web2x&context=3) \- Recap: I am taking the best DD's from reddit. Doing my own DD and Picking the best moves. I am a mechanic but I have a computer that is for me only. Prior to work I do some dd and get an idea of what I want to watch during the day. When I get to work I open my top 3-5 picks in different tabs in yahoo finance. Throughout my workday those tabs display the current price next to the day gain or loss. I can easily glance at the tabs often enough to know if I hit my entry ot exit points. I have a ""9-5"". In quotations, because it's flexible and I rarely actually start right at 9 or end right at 5. I like to scalp and be in and out of positions within a few minutes max. Since I'm on the west coast, markets open at 6:30 AM my time. I wake up maybe around 6:15 to look at the stocks I'm interested in during the pre-market and draw out my support/resistance levels for the day. I'll watch them a bit after market opens to see what happens and spend the next 1-2 hours actually trading (which is mainly just waiting :P). The first 1-2 and last hour of the day are really the most volatile times anyway, and you can often catch some of the biggest moves during those times. I've been paper trading /ES futures recently so that I can eventually trade that after working hours as well. My boyfriend also has a 9-5, but prefers to swing trade so that he doesn't have to be as active as I am. He'll find stocks that have nice technical set ups and/or some fundamental catalysts, and he'll plan out his entry at least the night before he plans to enter a position. He'll then set up an alert to let him know when the price is approaching his target entry and more alerts for when to get out, so he's not looking at the screen too often. Yeah I work an office job and have been trading since 2017. Short term is hard. If you have time away from the trading desk you can get caught out of position Stop losses, trailing stops and take profit points are your friend. As is appropriate risk management. Same with any other trading I guess. I look at 3-12 week time horizons now and check in on portfolios a couple of times through the day. I spend more time reading through stock reports and running TA on potentials now. I've been learning how to swing and day trade for the past two years... Here are some of my tips for new traders: Patience. You seem to already have this in mind but learning how to trade is the same as any other profession - it takes time. You don't get rich over night 'trading' as a noob unless you're getting lucky. The luck will run out and you won't have a system to save your money. There is no secret formula (hmu if anyone has the secret krabby patty formula) so don't pay much attention to youtubers claiming it. You'll be successful by putting in the work. Educate. Read or watch educational content as much as you can. Learn about the different methods traders use to time entries, exits, and how to calculate risk. Some things will work for you but not for others. Its not necessarily about copying someone's winning strategy - but finding YOUR winning strategy. Having every tool in your tool-belt to build that strategy is ideal. You can start by just looking at general videos about technical analysis and patterns. If you're more advanced I would recommend reading about Elliot Wave Theory, Harmonic patterns, or The Wyckoff Method. There are many others these are just 3 popular styles. Psychology. Your biggest obstacle will likely be your own mind. Entering a position just a bit out of your comfort zone and the trade taking a move you didn't anticipate so you exit with a loss. Then, those losses compounding themselves through revenge trades. Learn how to control your emotions and how they work against you when trading. I control mine by being prepared for every circumstance up or down BEFORE I enter the trade and let my system take care of the rest. Test. As you build out different strategies you should always back-test them with smaller position sizes or by paper trading. Such a small amount of money that it doesn't matter in the slightest what happens to the trade but you get data on how profitable it is. Consider paper trading as an alternative to doing it with real money. I tend to like real money even if its irrelevant sizing as it can still work on your emotions. Stop. Stop your losses. Learn how to implement stop-losses into your trades. It takes some effort and losses to learn where they need to be placed but the money you'll save in the long term will be worth the initial learning curve. There are just things you can't imagine happening and stop-losses are there to keep your trades strict to your plan before entering the trade. You should be out of a trade if you don't understand what's happening. Hopefully this helps put you on the right track along with the other fantastic comments in this thread. It took pain for me to realize how important it is to have a sealed system and abide by some of these principles. You can make plenty of profitable trades being lazy with your system but what happens that one time you you get caught with your pants down? If you trade consistently its bound to happen more than once. Be prepared for those times. Some favorite tools- Elliot Wave Theory, Fibonacci extension, Fibonacci retracement, RSI, MACD, Moving Averages Small folio of only 2k but college student, working 35+ hours a week. But I’m obsessed ha Some traders slag off using a demo account because it's all about the gainz, but if you're learning, it can be a valuable too, to begin with. Edit : Being into coding and software development, look into MQL and build a robot. I'm a flooring installer (mid 30s) working 40+ hours a week, trying to support a family. I play aggressively as a noob with money I can afford to lose. If I ever hit a 10x return then I can finally afford to take my family someplace special. Some people buy lotto, I think my odds are better in the market. swing trade- it the same thing just with overnight risk I do swing-trading and some long-term buy-and-hold. Most brokers make it easy to place a limit order in the evening and will send you an email with your fills in the morning. If you want the fast-paced action of day-trading for the adrenalin rush, I recommend trading financial futures, the S&P e-mini or similar. Those trade 23 hrs a day. Create an algo trading system. If you have a solid understand of mathematics and SWE it’s pretty straightforward haha i am also in this positon!! shall we set up a Whatsapp Trading group to share tips etc? Trade on East coast time, but work on West coast time. Best tip I have to offer. Yes! invest you won’t regret it. But first educate yourself on trading before you start, I wouldn’t want you to go bankrupt Better to swing trade in your position Yea I am almost. I started out following this dude on [Facebook ](https://www.facebook.com/groups/636098170420968/?ref=share) my friend introduced me to his group for beginners. I was afraid he’d be another guru but he’s been pretty helpful with providing insight for me in the beginning. But Like he said the best thing to do is to not try and grasp everything at once break it down into parts. It takes the average successful trader 2-4 years to be consistently successful to break even. the best time to trade is before our 9-5 jobs, lot of volume and quick micro bursts to jump on. Also a good way to plan and set orders for the day. I always check in to make sure nothing wild is happening. Also be happy with the half percent gains days. those are good days! Try not to hold too many assets at first, one can trade on a single volatile ticker for their life if they get good enough. Also try not to hold overnight, when work gets crazy, its easy to forget about the day trading. Thats why I set my sells immediately after buying unless i know I'm trying to hold for a specified period of time. Same. I’m just eat crayons all day I’ve been trading for 2 years while holding a full time job. I own my own business, and still find the time. I only hammer out 4-6 trades a day average, but if the market gives it, I’ll take more. Most I’ve done is about 33 but I was in and out in 2-3 minutes each. First piece of advice - trade one share at a time. Get a feel for the flow. The anxiety used to kill me, and I didn’t trust the trade. If you want an 8 cent goal, let it run. If it gets stuck at a 4-5 cent movement and you want that 8 cent, hold and let it get to your goal. It’s difficult when you’re in the trade, and easy to say. But. Trading one share at a time made me realize that if I trust what I’m doing, then it doesn’t matter how many shares im trading. Some other advice that has benefited me : Follow 2-3 tickers at most at a time. Charts and graphs start to bleed together and then you miss trades when you’re out searching for them. Patience is key. Let the trade come to you This is debatable per trader - but I hate stop losses. It seems any time I ever set a stop loss, the MM finagle the ticker to my stop loss and then goes right back to my initial goal. They are Definitley good in different situations, but depending how you’re trading, it could be detrimental, especially if you keep it close to your entry point. Others will comment otherwise. Any loss is a lesson, and take it that way. You’re paying for your education, no different than school. Document your trades. Entry point, exit point, any info that you can look back on and see why you lost or gained on that trade. Have a goal every morning. Make $10 a day, make 1% of your portfolio, trade 3 successful trades even if it’s one share at a time. You HAVE to have goals, if not you’re going in blind. Most importantly, HAVE FUN!!!! There’s a million other things I can list, but with anything, you have to get your feet wet. And remember, every single person trades differently, so trade with what fits your style. 2nd point to remember - there’s a buyer and seller (winner and loser) to every trade. No one is out there trying to make you money, only You. I do it as a hobby but if you have a 9-5 it’s hard to watch the stocks and we usually don’t have the funds I’m an air traffic controller with a ridiculous schedule. Some days I am off a whole week day, and some days I only have a few mins at the computer. I buy shares of ETFs (ARKK mainly) and sell covered calls against them as my main strategy. When I have the chance to actually daytrade, I do...but I tend to make more money on the days that I don’t have access to the computer! End goal is to replace my income as an options seller. The gains in the underlying are nice, but the premiums I sell are $$ in my pocket....aka r/thetagang Nursing family here, still doin it Of course. Foolish not to Ahaha dev in my 20s doing the same 1. Definitely keep your job. 2. Start off investing in stocks you can trade day over day as opposed to within the same day while you learn — this means trade stocks that have a solid base and have potential to move up in the short and long term, that way you are gambling less while learning and if you are losing some money on it, you know it will go back up in a couple of days. 3. Play with money you are comfortable losing. 4. Clarify your gain and/or loss exit price before entering a trade and stick to it. East coast or west? If west coast then it’s easy. East don’t know I’ve been trading during the day while holding a 9 to 5. It’s been about a year and it does take some time and patience but I have been profitable each month. I have been able to supplement my income but not replace it. If I could spend all of my time trading and not work a 9 to 5, I think I could do it. Find some great videos on YouTube, ready a few books and open a trading account to learn how the interface works and how to trade. I hope this helps Software designer, 50, yes I trade, mostly just scalping 9:30-10:30 unless I have meetings. Work remotely. Same here guys. I’m mid 30’s. I have dabbled in stocks off and on since my early 20’s. Started with a TD Ameritrade account paying almost $9 a trade (talk about hard to profit with total of $18 a move). That all changed when I came across Robinhood. In fact I was one of the first 100k to join Robinhood. Since then I have put money in pulled out and back again. Wasn’t until my early 30’s I kept my money in. It’s been my experience day trading is extremely hard unless you have major capital to work with. These threads I see where guys are wanting to start with $500 and end the year with 100k I say good luck but that’s about a .01% of happening. I’m just being honest. You are much better off seeking high dividend stocks or staple stocks of the future when they are on sell. Maybe keep a little gamble money on these stocks with possible high returns but the key is to stay in. I get sick when I see stocks that I held 10 years ago that were maybe $20 and now they are 100+. I’m not saying you can’t make a few hundred bucks a day trading but when the economy turns south and it WILL get ugly (cycles) how do you keep making money? Dividends!!! Even if the stock goes down and you are at a loss just hold and reap the dividends until the bulls are let back out. Personally I keep my main funds in mostly REIT’s with some dabble money on the side that I risk with potential jumpers and put my profit back into my high dividend REIT’s. Only other advise I can give is do your research, invest in companies or industries you like and know, look for stocks of the future and those that are not going anywhere. And seek dividends. Good luck. 👍🏽 Husband is a 47 year old software architect. I am a 44 year old son care formulations and business owner. Our oldest son is 18 and works as the warehouse manager for my son care line. I home school our 11 year old and then he works with the family in the warehouse and office. The first 3 hours of our day for all 4 of us is spent on trading (the boys have their own accounts and make their own decisions). We trade together but we trade differently. As soon a we make our minimum percentage we close down and start the rest of our day. Remember if you day trade always close out your position by the end of the day. If you go long- go long. If you swing, swing. Go into the market with a strategy. Don’t go blind. If you work a 9 to 5, you would be better off trading options instead of day trading. You have to watch the market much more with day trading. Not a software developer, a small business owner. Also in my 30s and starting to delve deeper into day trading world I swing trade as a chef. It can be really hard on the rough days. But overall, it's just pretty hard lol. You probably want to be swing trading while you have less time available. Maybe do some really small crypto day-trades on the weekend so you can familiarise with chart patterns a bit more tangibly. If you find a good crypto you don’t really want to be trading it though Nope because at least 2/3 of that time is spent in a secure area lol I only try to invest in things where the attention window required to execute my exit strategy does not involve watching the candles and graphs on a minute-by-minute basis. Typically once I am happy with my profits, I will setup a trailing stop with a reasonable trail percent and generally forget about it. Additionally, thanks to the perma WFH, and my job being fairly flexible with my hours, on crazy days where I think there is action - I take the morning off, start at 6, and wrap up positions by noon so that by the post-lunch session I am productive and can get enough stuff done. Bonus if these action days (GME squeeze days etc), are on light meeting days, but work always wins over trading because one I need to pay my bills (for now at-least). I personally feel it’s easier to trade with a job. I have a 9-5, I’m in marketing for medical clinical trials. But was a former sales assistant at a wealth management firm. It allows me to not really take the huge risks that I see some take, cause let’s face I do it to grow what I would consider dormant money. Also allows me to funnel in funds from checks so I can spread it around so I can be in many different companies at once. Same here..I used to be a sw developer.but lost my job during the housing downturn when my company moved to another state. Now I work as field tech suppport which does not pay as much but I don't get to sit in a cubicle all day with the boss going around. Now I have more time to day trade without fear the boss is lurking around. I started in 2016 daytrading by reading on the internet and watching tutorials on Youtube. You will option trading and spreads. There are a dozen of strategies like vertical, calendar, butterfly,.condor, etc. But the most common is vertical and straddle. 30 year old teacher. Day trading between class periods. To be honest, it is good because work distracts me from my stocks and from selling lol. I am working on being more logical and not emotional when it comes to the market. My advice is by towards the end of the day, sell buy 10am the next day. I have made a killing this week on meme stocks this way. I also do stop losses as soon as it made an amount I'm happy with. So if it grows, cool. I keep adjusting my stop loss. But if it doesn't, fuck it, mull again. I don't ever sell at the top, but I don't have to. Make 10% for 10 days in a row and you double your money. Do you give a shit which stock its in? I look at the news, reddit, stocktwits, etc. Buy the rumor, sell the news. I knew marijuana stocks were going to pop the second I saw it on the news. And it did. Went straight to hell, but I cashed out at 400% profit. I'm so glad I didn't spend more money on it this morning. Look for who is going to benefit from a current situation. Volkswagen and Ford are hurting because they don't have microchips? Invest in microchip companies. Job unemployment is up? Buy gun and alcohol stocks lol. Yup Lucked out working a job that I start at either 9am central or 11am central 4 out of 5 days a week. Perfect for pre-market and market open trading. Now if only I could get TDAmeritrade to let me control my money again.... Yup. Its a lot easier when working from home and im getting better and better. I started really small with like a $20 dollar account now its grown to around $1,000 and im proud of it. I hope in a few more years I can shift gears and give a full go. Get an easy job without a lot of oversight. Seriously, if you want to make trading a career and your 9-5 is distracting you too much from *active* trading (daytrading, scalping, etc.), you'll want to consider finding a job compatible with your lifestyle. If that's a no go, you'll have to consider markets that are open outside your job hours. That usually means forex or crypto. Barring that, you're mostly left with swing trading and will have to rely on setting up screeners or scripts to filter for trading opportunities. Nah everyone here is a rich, funded by our dads. Who the fuck works 9-5? SW engineer in my 30s watching stonks.. Yup I work fully remote as a dev though and have three monitors. Have one with futures on it and the other for swing/day trading. Yeah man it hard as hell trying to focus on both I try to just keep a lot of alerts on at all time on td and in my work computer I’ll have the Nasdaq live trade page on with all of my stocks running at the same time so I can go back and forth while I work Yea I'm a final year medical resident that has been working through covid times and trading very heavily too on a daily basis. Limit orders are my best friend! Haha I’m a bad emotional trader who’s fared fairly decent. Not the returns I want. But I’m unfortunately pretty glued to my phone at work for the first bit of the day. I’m a mechanical engineer, so fortunately in a professional job where I can kinda go at my pace, but my productivity drops off so sharply during trading hours unless things are slow. Yeah, 99% of everyone subscribed has a real job. Full time military (which means I have extremely little free time) I do most my research late night and weekends. Also have a strong network of fellow stock nerds at work. Between those two avenues I’ve had a pretty damn good year. Just gotta know that just because the ticker is red doesn’t necessarily mean panic. And any win no matter how big or small the percentage is still a win. Take a step back and look around you, what products/services are surging (think Etsy custom mask sales when COVID ultimately started, take a look at their chart) as well as Shopify (everyone stuck at home and forced to buy products online). Then we get a Dem president and weed stocks and EV stocks start rocketing (part of their platform). Don’t even need to deep dive financials etc, just look at what is going on throughout the world and the hot topics. Good luck out there! Side note: take everything on WSB, yahoo finance conversations etc with extreme grains of salt. Don’t get caught buying into the peak of a pump and dump (which is what they want). I’m a software engineer and I’ve been day trading for 2 years now! I have the stocks on one monitor, Visual Studio on my second monitor, and my user story on my third monitor and just go about my day as I normally would! Maybe try this out first. [https://www.investopedia.com/simulator/](https://www.investopedia.com/simulator/) If you have a chill boss and your senior, you can fuck around for a few hours a day looking at the trends and doing your DD, that’s what I do, but I’m a manager so kind of do my own thing I have a reverse 9-5 shift, and basically scan the market for potential candidates before market open, keep an eye on whatever's on my list and the potential trending for trade opportunities. If I hit my daily target I can then sleep earlier before market close, otherwise I'll be on and off scanning for trades. But what's important is that I don't feel the need to trade every day, I try not to force a trade. Stop losses helps me manage SOME trade risks. Position size matters, A LOT. Never go all-in, regardless of how tempting and sure fire something is. As a beginner in the game, understand that you will blow up a few accounts before you get the hang of things, that's a part of the learning process. You sit up straight, eyes peeled, ears ON, you do those things ONLY when you have skin in the game. I've blown around $15000 before I really knew what discipline meant. Your goal is capital preservation first and foremost. Wins, regardless of how small, are wins. Don't allow 1 loss to shadow over your last 10 wins, if so you need to readjust your attitude and reset your strategies. Don't look back, no what-ifs on both wins and losing trades, what's done is done, move on to the next opportunity. It's a mental game, you are your own worst enemy. Investing and trading can be fun, even better when you get good enough that you can consistently secure profits. There's lots of materials and videos on youtube to guide you. ​ Something like only 20% of traders actually make money long term. So you ready to lose some money? Go get them Tiger! :P Am dumb economics monkey trader. I don't really recommend anyone to actually believe daytrading is a realistic option as a career. For every gainporn poster, there are a lot of people that have had their asses handed to them. Work sucks, but honestly being a professional gambler is not the way. Put like 20% of your assets in this game, and have fun. Don't rick what you can't lose. There are actual other ways of making money that, while no sexy, do work. Put money into a farm. Buy a rental property. Don't see trading as an out for a suck life. Tons of people get wrecked, but they don't post. Good Luck. Same 8 to 6 job but I managed to be up 2000% gains. Playing with house money now, it's not much but it's fun seeing the gains. One tip DCA and Buy low, Sell high. I’m also in my thirties and I’m day trading (actually more swing trades most days). I work in IT where I’ve been for many years, and I enjoy my job, but I’ve gotten to the point where my proficiency leaves me with a good chunk of free time most days. I can handle the day job while still keeping an eye on the market and making a few trades as needed. A typical trading day for me starts in the evening after I put my daughter to bed. I fire up my favorite filters on FinViz, and make a handwritten list of stocks worth investigating. I read news, SEC filings, Reddit, and even flip through TikTok and Twitter. The list continues to build. I research the companies and cross off any that have any kind of reason I might doubt their performance. I pull up charts on TradingView and draw trend lines and analyze indicators and candlesticks. I look up terms and concepts on Investopedia to broaden my knowledge base. Finally, I get on Fidelity and place limit orders for the next day. I set alerts at my exit points above and below to get notifications on my phone when each stock is nearing either end. In the morning, the market opens after I start at work, so I set aside some time after the necessary work at the start of my day job, to watch the market open. I adjust my orders and alerts as needed, and see how it plays out. For trades that are successfully completed, I immediately set limit orders at my targets and adjust alerts as needed. If I have a chill day ahead, I set the limit orders to sell at my goal, and set alerts to warn me of losses approaching my lower limits. If I know my day is going to be busy, I set limit orders to sell at the low end and alerts for upward movement. I can’t tell you if trading is right for you, but I’m happy to share my experiences. Like most things, you can be lucky or unlucky in the short term, but long term it’s a matter of skill and dedication. I happen to enjoy spreadsheets and numbers, and I think that’s probably a prerequisite. There is always more to learn, and I definitely believe that anyone trading stocks needs to be willing to dedicate themselves to perpetual research and learning. If you have the time and dedication, you can day trade, but it’s a commitment for sure. Volatility and high risk are unavoidable. If that sounds like too much, it might be better to stick to long term holds of less volatile stocks with good long term growth and dividends. Otherwise, a Roth IRA is a good idea for anyone else. Here’s my personal rulebook: 1. Listen to everyone, and trust no one. Every person, company, or analyst has an angle. Literally no one is looking out for you except you. If you get a tip and it works, that’s great, but don’t rely on any person or tool or algorithm 100% of the time. A broken clock is right twice a day. Always do your own research. 2. You are responsible for your decisions. Own your successes and your failures. It annoys me that every person has to say “this is not financial advice” on every statement they make, as if I would otherwise do exactly as they told me and blame them later if it goes sideways. I don’t allow myself to blame anyone or point anger toward anyone other than myself. (And I bask in my own glory when I win!) 3. Every loss is a learning opportunity. Every gain is a learning opportunity. Always seek to understand what went right or wrong and why. Invest money with the assumption that you might make a mistake and wake up tomorrow with a zero balance, never stake anything you can’t afford to lose, and never allow yourself to wallow in regret or fear. 4. Opportunity knocks repeatedly and indefinitely. There will always be an endless array of opportunities that you’ll miss, and that’s fine, so don’t get hung up on that. Look for the next one, because it’s always out there. I’d always rather avoid a trade and miss a rocket than allow myself to make a trade out of the fear of missing out. 5. Emotion is the enemy. I constantly fight the urge to be just a little more optimistic, and to bend my own rules. Set goals, targets, and limits, and stick to your strategy. (My wife jokingly says I’m good at trading because I’m a psychopath. There’s probably a grain of truth to that.) 6. If you don’t love the game, stop playing. This is the core of my entire trading philosophy. Obligation will not provide the motivation required for success. While I do dream of the day I can earn enough through trading to quit my day job, I know that I won’t be successful if ever stop enjoying the game. At this point I realize I’m writing this more for my own benefit, and you may not have made it this far, but if you did… one last suggestion: Screw the rules that you ‘must do’ anything, that you need ‘this many hours’ to be successful, or that you need a specific amount of money to start trading. Make your own damn rules. You don’t need to explain yourself to anyone. Start where you feel comfortable, even if that’s with $10 on fractional shares. (But maybe consider a real broker like Fidelity, rather than one of these trendy new apps.) Enjoy the ride! Surgeon here. Just finished up an emergency at midnight... rather be day trading [deleted] I do. And I’m always multitasking :) Not a traditional 9-5 but a bartender. I am fortunate enough to see opening market and make trades according by mid afternoon. Still working while the market closes. In a similar boat. Mid 30s, work in IT. I don’t want to go into management either, which is where most tech jobs seem to lead once you get into your 40s and 50s. Planning to build up my trading skills over the next few years with the eventual goal of doing it full time maybe within 5 years. I don’t expect to be successful right away. I work from home full time so this gives me basically infinite flexibility to trade and learn during the day. I do my research outside market hours then I’ll usually keep an eye on stuff from 9:30-1 as I’m doing other things. I haven’t been very active in the later hours. But I’m mostly doing paper trades while I learn technical analysis. The plus side is in our fields, we’re used to continuous learning and skilling up (at least in IT, assuming it’s similar in development) so it’s just another skill for us to learn. :) I don’t really have advice but good luck on your journey. Ok ill bite...been there done that bad move for day or swing trading. I have a lot of down time at my job and would pull in avg ~$100/day extra from my phone. Some days would be great 3k days some would be horrible days but I had a good system...then shit hit the fan at work. I got busy for a few weeks straight and was in middle of a few swing trades that kept getting pushes off...destroyed my portfolio. Lost a large percentage of what i had in my play portfolio I started switching over to value investments instead...still do some swing trades once in awhile but really only when i get caught in a gambling mindset and I usually lose out. Day trading requires real research and time Check this guy out he’s legit. He help How to trade & learn about the stock market Let goo🚀 https://youtu.be/qWrPOkzHYE8 I have a simple idea that needs software engineering. We can build this idea together or with a team. I have no tech skills my experience is in business and entrepreneurship. Let’s work. Also dev, turning 30 soon and lookin for tips :p Same here. I don't see promotions happening ever, as I've been told by my current employer, a company I previously interviewed with, and my former employer that there are too many white men in leadership roles and they will not be considering me for growth or hire unless they absolutely can't find a person of color or a woman to promote. I was doing well with daytrading until I got greedy and went all in with GameStop and lost everything. My advice: Don't look for get rich quick opportunities. Take it slow, make wise investments, sell high and reinvest when the market dips. Same I just got into trading and I’m also trying to start my Constuction company. Luckily I’m on the west coast so I wake up early and watch pre-market. Do some trading until 7:45 get my guys headed to a job. Watch the market, set alerts, then am out the door between 8:30-9 and then check back in on market right before close. R u assuming most people here are pro traders or just jobless !remindme 1 week I’m not a developer but a business analyst, works 9-5. We have lots of meetings (depending on the methodology). I am not sure if you can do daily trading. If you can ALT-Tab quickly, then maybe there’s a chance. But with daily trading, you have to monitor the chart at a lower timeframe 1 min, 5 mins and check all your indicators whether there is a buy/sell signals. Maybe you can be a position trader? With position trading, you dont have to check the performance of the stock frequently. I am thinking you can check etoro (copy trading) if its available in your area. I would like to suggest to read books by William J. Oneill (orange book) and Mark Minerveni. There are also youtube channels that can help you understand technical analysis. It will help you identify market trends, understand volume, watch out for support and resistance, moving averages, rsi, obv, macd, candlestick, etc. Im also a newbie. I tried trading while working but its too risky. Youll also feel bad that youre doing it while working when everyone else is too busy. Trade CFD contracts and learn to scalp. Bull or bear market doesnt matter. Market moves in same patterns at short timeframes all the time. You can make a living by trading the first minutes at EU open and US open everyday. First 30 min and you are done for the day. If you are at work you just use the toilet same time everyday 😄 Same here. Android Dev in my late 30's who learned how to trade during the work from home lockdown. God forbid when we have to start going back to the office, I won't be able to trade like I want to. I'm not a 9 to 5 more of a 5 to 1 I work construction. But I got my foremans into stocks so we usually take lunch at 10 and make our trades Yes, but it hasn't been easy. Long ass days starting at 5:30am. Daytrading is quite stressful as well. I am making consistent money but am not making life changing money. Also I am not really beating some of the best performing funds so there is that. It sounds like you are in this for the long game (gains over 3-5 years). For someone new ""Day-trading"" over that time span will certainly wreck your finances. I'm not sure of your WFH situation, but you better get a doctors note explaining all the WC breaks to your boss. While this strategy is feasible (after you get off work, spot opportunities on finviz, or message boards, then have a plan and execute during the next work day) more than likely you will not beat the average. If you're dying to day trade, why not start with Bitcoin or Dogecoin, price movement in the cryptos might be suited for a beginner (not FA). Just buy the index, then some good companies you believe in and are excited about - and let it ride! Your practice will be much more successful, remember it's easier to blow up a portfolio or have a significant loss than have slow consistent growth. Same boat from someone in healthcare. What usually works is that I use my sick days when I feel somethings going down in the market. Other then that, its playing both pre-market and after-hours, lunch breaks day trades (which most of the time doesn’t work), but it ends up being swing trades. One advice I was told, why not take an LOA or a vacation for 2 weeks and see if its possible. I will trade with up to about $80k. Typically about $25k to 50k. Whatever it takes for me to get into a 1000+ share position and scalp a half point to a point on any given stock. Yeah, I started learning about 3.5 years ago. Day trading is really off the table. For me the combination of swing trading with stocks and options and selling premium has done really well for me. It's been difficult. Just know that you will take losses because of work that would have avoided if you had been able to get to your account. On that same note, you will also have some unexpected gains for the same reason! So, manage your risk. My plan is to go from the edge of poverty to financial independence and freedom from a job in a total of 7 years. I spent a year saving, learning and paper trading before I traded real money. Learning to successfully trade has an associated tuition. The more you learn on your own, for free, the lower your tuition. Have fun and good luck! I trade in the mornings 9-10 . Mostly day trading and the occasional shift of my long positions. I’m an executive chef and I day trade. Be careful bot to look at charts at work, it’s distracting lol I just started 2 weeks ago, been reading non-stop, watching u tube videos learning about charts. Lost 20 percent on gme. Currently down 7 percent from original investment. I also work 6 days a week 12 hours a day. I'm not even trying to get rich. All I'm trying to do is make 200k over the next 5 years so my house will be paid off at which point I will divert my mortgage payment into dividend stocks and try to get my dividends to 50k a year before I retire or die so my wife will have some support. She hasn't worked in 8 years because our disabled daughter needs 24 hour care. Turned 40 in November. So I've got roughly 29 years to make a million bucks to leave my family. OKAY... so this is super long and it is supposed to be helpful and it comes from a place of working with industry as my 9-5 for the past 4 years/going to college for finance (that part doesn’t much I know I know) but anyway personal experiences in trading and those people I know too all factor into these tips. NOT FINANCIAL ADVISE I AM MERELY GIVING INPUT ON MY EXPERIENCES FOR EDUCATIONAL PURPOSES ONLY CONSULT A FINANCIAL PROFESSIONAL FOR YOUR SPECIFIC NEEDS AND SUITABILITY Okay now that’s over with, just read through this essay I wrote for you. Hope it helps, sorry if it seems juvenile but they’re the basics and I have no idea where you’re at in your education on the matter 1) look into options trading, don’t wast time on shares unless you’re buying then selling some to let the rest ride after covering initial cost 2) don’t day trade... swing trade. It’s a couple days to a few weeks, gives more time for movement and lets you employ more strategies (also you can focus on your normal job but keep notifications on your phone or listen to CNBC of YouTube streams etc. for stock news to trade off of) 3) research, research, research: I’m guessing software development took time to nail down (I sure don’t develop software in my free time,) so get busy in your free time reading financial statements, learning trading strategies, watching videos on YouTube about companies business structure and earnings reports, and develop a niche. 4) the aforementioned niche: you work in software? Don’t reinvent the wheel!!! Some of the best companies to trade options on are software companies. You probably can look into their sales and revenue and how their business is run, along with what their product is and how well it performs, all while better understanding the facts and figures than the average folk. So use that! Learn about your industry first, master the knowledge of how these companies perform, and how their stock moves. They have patterns, and some LOVE to react to news... others, on the other hand, well they’ll move along slowly up and down the chart over the years and are better as a savings vehicle than a trading vehicle. 5) PRACTICE: DO NOT YOLO WHEN YOU ARE NEW. Biggest mistake I see all of the time. Don’t run before you can walk, it’s easy to get excited and try to. Try practicing by paper trading on thinkorswim or another similar program of your choice. You’ll thank me later, it will cut down the number of “why did I do that” by A LOT. When I started I skipped this step and made my salary the first trade then lost it because oils collapsed and I had over leveraged my account in oil company calls. 6) CASH IS KING: They are just numbers on a screen until you move it to your bank account. Make the money, take some out. Leave some for taxes, it’ll add up. Like I said above, I made a bunch then it went away because I didn’t leave enough in cash... if it’s in a play you’re signing up to lose it if you’re wrong. 7) don’t go on Twitter: this one is simple... don’t listen to Twitter lol. It’s all pumpers and you don’t want to get sucked into it. If you ignore this, just be careful and please do the paper trading first so if you follow people on Twitter you won’t lose real money on their pumps and “DD” 8) please don’t use Robinhood: no other information here just don’t do it, it hurts my souls when people use it. Consider Etrade, fidelity, TDAmeritrade, or something else 9) find a community: it’s fun to find friends or a community of people who value long term investing and learning solid strategies to make profits without over leveraging. They should be supportive, and not make you feel scared to lose out or that you’re missing on something when you need to make the smart investment choices. Basically, have people rooting for you and giving you new ideas that maybe you haven’t thought of while you can also teach them new perspectives on the market and life! 10) “don’t quit your day-job!”: the age old saying we’ve probably all used or heard bears significance as I’ve heard (and felt before tbh) the words “I’ll just trade for a living, I could’ve made $1,000,000 last month.” Now this is all good and fair, but you didn’t make that last month. And even if you did, can you do that each year? Have you done it more than once? Basically, unless you can consistently make your current income or better trading (or close enough that requires expenses and life style costs etc are covered) for 2+ years IN A NORMAL MARKET then don’t kid yourself, your salary in a stable job is much more important. 11) (almost) EVERYONE IS WINNING: I hate to say it, but almost everyone is winning right now and thinks it will continue... ehhh 🤷🏼‍♂️ the market is fickle and I’m not ignorant enough to say it has topped out and needs to correct, but some people are ignorant enough to say so... so just be careful and keep in mind this is not a market like we have ever seen in the history of the market... things are really weird, and don’t expect consistency 30-something System Analyst (IT) here. I day trade small chunks and use the following rule with my disposable income... 1/3 - Savings (emergency fund) 1/3 - Short-Term Brokerage account (quick flip day trades using WeBull) 1/3 - Long-Term Brokerage & IRA on e-Trade. (Stuff I plan to let mature and grow with Divd stocks and established companies). This income is very small and each 1/3 split is barely $100. So I am moving slooooow and steady. I work 3 jobs. Two are full time, and one part time. I get two days off a month if I am lucky. But I am able to monitor things at work most of the time. I have missed out not being able to check while I am at work, but for the most part I make it work. Id be okay with it, as long as I have the goal of getting out soon like you do. Right now I’ve done Uber/delivery services but my younger brother totaled my car rip 🪦🤦🏽‍♂️ But actually that’s what pushed me towards trading. Though now I don’t have a car, using most of my money to trade and now save, aiming for a Tesla next You can get those experiences of course you have to do trading.. and do your job as well together.. start investing in tesla, nio, aitx, blsp, ozsc etc etc DD for sure :) Yes, Im in healthcare. I try as much as I can throughout the day. I setup a lot of swing trades. First I should say you basically described me and I've been trading for around 2 years now. I setup positions after my daily scrums and I usually pull out or hold 30 minutes to market close. I make a lot of trades slightly after open, 1 hour later, lunch, and slightly before close. I research things early am and after market close. The hardest thing is not constantly checking on things. Don't stare at your investments. It's just numbers. I never use stop losses or limit orders. Make the trades yourself during market hours so you can see exactly what price you got for something. Setting a stop loss that gets triggered during a drop always sells at the bottom of the dip. Never use stop loss or limit buys on volatile stocks. You'll never predict exactly how far a price will rise or fall. But you can probably guess when bot trades are adjusting a price and line up with them for some easy money. That being said, they work great on boring stocks. They perform exactly as expected when the stock slowly grows or falls. Don't invest into anything you don't believe in. If it's a meme stock you want to play, take the day off and be the day trader. Builds your technical analysis skills in these days. If you are panicking about a decision you made, it was probably a bad one. I'm not saying you won't be wrong, but most of my losses are from panic selling. Sometimes I just have to believe in why I bought a stock in the first place. If you don't have a trading journal, now is a great time to start. You should be writing down why, expectations, results, entry and exits. This also reaffirms your decisions when things are dropping and your in the red for 2k that day. The best feeling in the world is spending 3 hours making a decision that turns into thousands of dollars later. Id don't really care if anyone argues these points, this is what's working for me. I'm not a financial advisor and you should not take this as financial advice. I'm a Sr. UX/UI Designer in my 50's and I'm just getting started in learning about day trading. I need a supplement to my income so I can reach my goals sooner than waiting 10 years. Being on the west coast i wake up at 6am every morning to see how the market is feeling and make my trades. Im also a software developer and feel its pretty easy to find time during work to manage a position. I go from day trades to swing trades to theta plays depending on how i think is best to react but maybe pure day trading would be difficult but doable if you have the will i think. Same here but in the natural gas industry, but Joe Biden is making me do some research Yes I trade actively while working, but I’m fortunate to have a job where I make my own schedule so if I see a good setup for a day trade I can jump on it and take a 15-30 minute break and just stare at my phone. I don’t look away when im in a day trade, and I don’t look at the market if I’m in the middle of something I can’t break away from so I don’t feel like I’m missing out. 3 times I’ve thought I was about ready to quit my job and live on trading gains, but then I’ve had a setback in trading that makes me appreciate the security of a regular paycheck. One day. I have been trading for 4-5 years and build a trading system and collected price action movements and how moving averages behave when the meet and cross...etc I want to build algo system that can automated a lot of what i do. I dont know programming and willing to work/partner with software developer where I can teach everything i know and the developer can build a trading system (Python or any other language). If anyone is interested, please PM me I’ve been doing it for a year :) I’m leveling up in my experience. While working a full time remote job. I love trading. i do. I'm similar age of you 9 to 5 makes it hard to be a day trader. My advice being a full time trader is in your free time do your homework. There is so much information out there for you. Take advantage of it. The trading platforms have most of the tools you need to be successful. I have probably read most of the investment books on the market. The one that helped me the most was "" Understanding wallstreet "". As you all know trading is a full time gig it takes alot of your time and effort. Put as much time as you can into it. Over time with each success you can slowly move away from the 9 to 5. I hope something I said helped you. Good luck! 22 m Just getting into trading while also working healthcare. I made like 600 on GME today but that was luck. I have no idea what I’m doing lol and therefore contribute nothing to this conversation Sure you can, don’t try to fight the machines swing trade instead of day trade , you got the right mind set 3-5 years probably faster if you find a strategy that works and back tested to make sure it works. Stick to your strategy don’t be bouncing from one to the next give it time and trade volume to work. Manage your risk reward nothing less then 2:1. Take time to have fun shit is lonely and stressful and your the only person responsible of your results , good luck!🍀 12/31/20 was the last day at my corporate job. #Day trading for a living. It was too hard to work and trade. Can’t do both at same time and trading needs to have priority bc that’s your dough. Any burned out physical therapists in group who are planning to take trading as a new career? I’m a noob in my thirties too! I trade US treasuries from the U.K. market opens 1.20pm my time so I trade 1pm to 1.45-2pm. Works perfectly for me and fits into my day job. Just got to find what works. I’d have to be earning £100k+ trading for me to consider quitting my job. Same here.. I'm a clerk.. Still in demo account and watching youtube learning Reading lots of health care workers here. Seems like covid has really open eyes to see that Healthcare jobs don't give shit. Work endlessly as an RN for chicken change. The pay vs. Job responsibilities just don't make sense. Getting burnt out, already getting some funny pressure feeling in my brain from lack of sufficient rest and I am cared. Seriously looking into trading full time and need to learn all I can. The WSB forum has been working on a Bloomberg alternative. Being a former employee and client I've been helping them. Could be a nice side project for you guys. They are in need of some more pure developers. DM if you're interested I can facilitate the intro to the lead developer via discord - great guy. Definitely, I’m a tattoo artist, and I trade from my 📞 Yea information analyst burned out in corp world. It was a a lot easier to day trade working from home, but back to the office. I was day trading during COVID like a mad man. Best advice I can give is 1)Get a Webull account you can do pre market trading 4am up to the opening bell. 2) Pick a few good trades to day trade on until you can hit your $25k to unlimited day trade. 3) Look for a group with good due diligence. 4) Kenny Rogers said it best. Know when to hold, when to fold em and when to run. If you're a software developer learn pine script for trading view. Will allow you to configure a custom indicator and enter the world of algo trading. With a little python you can setup webhooks and do some auto trading with a custom bot. Literally building a program that prints money. Best thing for me since I to still hold a job. How have you been making out trading and working full time? I have taken it seriously since Jan and trade pre-market before work. It’s working great. I took my time learning the ins and outs of trading but found what works for me. Most days im done trading before 7am and prepare for the rest of the day ahead. That’s impossible. Trading like a professional requires full engagement. Post of the decade. I'm in the same boat. I’m a teacher. I day trade the open, look for a good entry, set an opening and closing stop then walk away and don’t give it a second thought. Starting off slow is amazing. The position sizing you want will be yours in time, if you have the patience and stomach for it. Im a trucker and daytrade in AM b4 i roll. I do more coin but ive only done this around 6 months never been a numbers or money guy and I am also a Sysadmin and frankly don't mind 9-5 cause of the freedom but money sux!!! However, I decided to try my hand on crypto and started to move toward trading but one specific I learned is don't get your excitement to overtake your emotions trading it'll cost you more in the end I learned that too many times. Also don't ever pay attention to the Google articles muchless anything. I'll say look at reddit over anything. I cannot tell you how many articles that seemed to know what prediction etc etc B.S. 75% are wrong or it's some company backed marketing. Remember the economy is shaky right now. Maybe bad advice buttttttThat's my 2.2 cents. I am but it’s challenging I keep telling my self once. I’m able to earn m, profit and save a year and half salary I’m putting in my two weeks notice I have been day trading for a year while holding a job, I am noticing I’m more interested trading and most my time out of my work day is trading. My boss and owner at my company is catching on, they can tell I’m distracted but I just say work has been stressful lately, need to ask if anyone can give me some advice on excuses as to why I’m not as productive at my job- they have no idea I’m trading. Also 30’s dude here who started trading 2 years ago. Same here man. Feels good to know I’m one of many noobs in my 30’s. I’m a workaday 32 year old. I’m on the same path as you guys. I want to start small and contribute a few hundred dollars a month and steadily grow. I think with this epic bull run this last year has drawn a lot of attention from a lot of people. Just remember everyone's a genius in a bull run. Everyone's getting great returns and thinking ""hey, I just have a good intuition for this. I could do this for a living at this rate."" It's easy to get modest returns just buying stocks and selling a couple of months later right now. Once the bull run ends though it's a lot more challenging to make money and requires a lot more knowledge of bear tactics. I'm not familiar with it myself but I'd imagine hedging becomes much more important, shorting, option trading, risk management, technical analysis, etc. I think a lot of people are going to be disappointed when this bubble pops, they lose 25% to 75% (depending on how cocky they got) of their portfolio, and have no clue how to get it back with this new market where nothing magically doubles every month. Just keep this in mind when you consider tossing your career to the side to chase the gravy train. This bull run could last another 5 years and you could become a millionaire. Or it could crash next week and you lose everything. Just trying to manage expectations. I'm the same (except early 20's) we should all create a chat group or something. Edit: Ok a lot of DMs and replies here. People seems interested. What's the best platform to create a group chat on? (...I assume reddit doesnt have this feature). there are dozens of us... dozens... in the EXTRA... similar position I’m in the same boat. I work for a very large beverage company that is widely recognized throughout the world. But, my territory is small and I don’t see any advancement coming anytime soon. I am starting out small with trading and trying to grow. I’m an unemployed dev investing minimal amounts of EI into trades lol I’m 39 though. Same, software support, in 30s Not a dev, but just a normal guy. I renrolled in college thinking I might have a career change, but have been trading stocks as a hobby for the past few years. I'm of the mindset of not doing college, which cost me money, and switching to trading for income, which is making me money. I just need to get better and more disciplined, which only takes time and practice. I've been reading books on stock trading lately and it has serious helped my approach. The more money I've made from investing, the easier it is to continue making more money because I can make bigger moves. I'm hoping one day I can have a sizeable portfolio to use as a base trading amount and live off the extra generated from it. Good luck on your journey. Hop, me too, jumping on the train. Can you turn how you trade by hand into code? r/algotrading IMO works best for already successful traders that don’t come in thinking their one good backrest is a magic pot of gold. (Semi-automatic is also an option along that path. Build a console that helps and manages your trading style as much as possible.) Noob here about to turn 30 in a week. Left my career to help my dad run the family business a few years back. Trying to learn day trading to maximize my time and money. Same boat. General contractor in my thirties. Have some money to play with, would LOVE to figure out how to do it on the side. I’ll hop on this train too! Attorney knocking on the door of thirty and looking into the same thing! Best of luck to all my fellow brethren :) Lol also a developer taking up day trading in 30s In my 30’s working in software, and I manage to actively trade and maintain my job. I am not someone who is trying to enter/exit positions on the same day though and generally hold positions for several weeks to years. 30 truck driver, here for the comments too Teacher working another job after class to keep wife on health insurance. Any advice greatly appreciated. Uh yu III is you you can tell immediately if you want to 28 year old noob here. I’ve been learning how to day trade and I lost 10k, made it back after four months and lost it again earlier this month from GME but I made most of it back in a little over a week. Eventually, I want to quit my day job but for now I’m still learning. I thought my boyfriend how to scalp today. Best of luck to everyone. Same here! I’m also the same. I work from home. I trade a lot. I’m in the same boat friend. I’m a 32 yo crane operator and I make good money but I work stupid hours, I’m looking for freedom. I don’t wanna sit in a glass box for the rest of my life and have to work til lunch time on the day of my funeral... 37 also a developer, but I don’t have a day job. I sell my own software which leaves me more time to study. I tried to ignore trading for a while but my brother in law kept bugging me about it. I’m totally new but can’t deny my fascination with the craft. Really enjoying the challenge so far. Same lol. Similar situation. Working professional looking to pivot or earn supplemental income. Mid-30s. Ok you're speaking my language. Programming I can do, it's everything else that's greek to me. But I can learn. I didn't know it was called swing trading! This is where I live. With a full-time job. You don't have to obsess over the stock too much but it's fun to keep the ticker open on a different screen This. Personally, I can’t effectively manage positions intraday with a day job - even being at the desk all day. Some may be able to - but it doesn’t work for me. Certainly not to the level that makes me comfortable. Swing/momentum trading fits perfectly where I can do position management when the market is closed (including managing both buy and sell stop losses) and focus on my day job - during the day. If I have time to tune into the market during the day - I do. But I don’t hesitate to shut it off to focus on my job - which is technically the most critical part to my investing (money, duh). And some times I need to turn off the market for a few days when work is crazy - I needed a strategy that could handle this requirement. Swing/momentum seems to more closely hit that for me. It also ensures you have well defined/thought out entries and exits ahead of time and prevent emotional decisions intraday - which are all good practices. Early on I missed an exit because of a meeting where I was the primary presenter. That was the last time. I now follow a bit of a longer time horizon/practice where my winners average around 14 days on the books - but that’s an evolving metric so it’s just an example. Good luck. Edit: not doing any algo other than the fact that I have a defined algorithm that I execute manually. My inbox is exploding with requests for a discord channel. Here is the link: discooord.gg/NGMadRhpGK Put some time into it. I automated my trading in International Brokers with Python and I spend an hour or two everyday to research, analyze patterns and improve my algorithm. Been doing this for a while now and I'm doing an almost regular 4-4.5% a month, aside from any manual trades I do which are just a couple a week MACHINE LEARNING TRADING !!! SOUNDS LIKE WALL STREET !!! CHIEF Algo trading will cause brokers to flag you as a “pattern trader”. Can I ping you for a chat u/Rationally-Flawed ? Not today but whenever you got time? Does Algo Trading refer to using algorithms to develop strategies to trade or using algorithms to place trades or EITHER or BOTH? [deleted] I was an electronics technician in the Navy some time ago. I think I have my work cut out for me here learning algo trading. I want a computer to be my ox, plowing the fields, I want my computer to do all my work for me. How is this not the way–algorithm trading set on cruise control. [deleted] I'd love to be included in the chat, I'm a 34 year old engineer whose starting to get into ML. You're speaking my language. :) This is exactly what I was gonna say. I’m not working a 9-5 but I’m pretty busy, so I swing by combining technicals with valuations I made from an api. Buy an undervalued stock before the momentum, use technicals to monitor Hi. I wanna learn automated trading. Do python enough? if so where do I start to learn python? Hey do u mind adding me to the group too? I’m new to trading and I’d be all ears for any information:) This is exactly what I have been studying to start doing. Setting auto stop and buy orders in the morning just don’t work. I need to setup an algo that follows indicators instead. What software do you use to execute your trades from the algo? Do you mean you're missing daytrading opportunities (where you'd make more money) due to your 9-5? I get asked a lot ‘why don’t you day trade and have a career so you can make more money’ and hunny it does not work that way lol I wish! I see my regular job as a way to get more buying power for daytrade. Haha so true This is what I'm going for. Smaller profits but consistent over a long period. Us working moms do the same thing. Check the morning, place the limit buys/sells. Check at lunch and then follow up work while the kids are at practice. Not gonna hit retirement soon but a slow steady build that may blossom to an early retirement one day. Ps. Soccer moms rule I have built a strategy around work as well, and a stop loss/sell limit (sell limit for half my lot) will help protect profits and limit your downside for sure! Underrated comment and such great advice. I spend way too much time watching charts like a hawk and 9/10 it's not worth it and I would be better off having buy/sell windows and limits like you and then just let the market do it's thing. Any tips on learning to build a strategy? I'm assuming people are going for tickers with decent but manageable volatility, high volume, and try to time the peaks and valleys? Do you make the sells an OCO order so that you don’t take profits then short after it drops? What % do you generally aim for with stop loss and sell limits? Quick question, does your broker UI let you set sell limit and stop loss on the same set of asset? Let's say you just bought 100 unit of asset Alpha, are you able to set sell limit and stop loss on the entire 100 unit of them simultaneously? Coz I know some brokers won't let you do that, meaning you'll have to do 50 unit stop loss 50 unit sell limit which defeat the purpose of using the strategy you mentioned. That effin kris, always checkin stuff 6-4 plumber checking in. It took a little boredom yolo fun to finally get me to open an account and buy a stock... and then lose it all on GME. But I'm taking the opportunity now that I'm ""in"" to learn all I can, start slowly and build up a base, and hopefully get myself out of construction before my body gives out. Late start in my late 40s. I wish there were trading apps and such back when I was 18-25 and had all the cash in the world and just blew it on chicks. This is me it is costing me thousands having to work but I don't have enough capital yet to quit my job and trade full time That's great. What are you studying? I'm also in Europe. Nice ... but the flip side is you never LOSE money delivering pizza ;) I’m in the same position, trading while doing uni at the same time. I should really get a job to add to my funds. Im a uni student in the UK too! How did you learn to swing trade? Anywhere in particular you could point me that was useful to you in being consistent? What is ADX? Sorry I’m new to this as well I recently added a 50 and 200 day EMA to my chart view and my confidence (right or wrong) on trade decisions of researched holdings doubled overnight. There are so many indicators to choose from, I dont even know where to start. Any help with a slow and steady path of education on indicators/technical analysis would be greatly appreciated [deleted] I had a moment reading this where I thought I was reading my mind! I'm a mom juggling home school, a sporadic creative career, and an active volunteer life and all that busy-ness equals no real income! ""More than restless"" is spot on. So much great advice here. It can be overwhelming but once in awhile you find comments that make things a little more clear. Thank you all! Appreciate your comment. RIGHT ON !!! CHIEF [deleted] Moms rule I also a mom learning to trade! I'm starting to get a little profit here and there. Gonna nickle and dime my way to success 😂 Awesome, dad! How did you learn about options trading? Which apps/tools do you use for charts? what expiration date you are buying? what strike price? What did you buy with $200 to make 19? Don't the premiums on options alone usually cost more than that? You have a 10,000% return in 4 months! Whatever Job you have is probably the wrong one. What was the trade that made $2,900 today? This needs more visibility. Setting windows to watch and buy/sell is critical. Prevents unnecessarily watching the charts and also allows for productivity in job #1. Are you me? This is why I just trade the first 1-2 hours of the day then go to my SWE job. Still hinders you mentally a bit from the intense focus, but I live on west coast so can take a nap in between trading and the day job still. How do you set a screener for that? I have a full time job so I trade early morning and at night around 7-9. Took me bout 2 months to get the hang of it but now it’s starting to look worth it WHAT TYPE MODEL AIRCRAFT DO YOU WORK ON !!! CHIEF Also an A&P, tho no union breaks. But I'm working on doing my research at night and trading when I can during the day I'm also in Europe so I'm trying to translate all these comments to my situation. Same goal as far as financial freedom. I’m a 27y.o IBEW electrician working in a hospital that’s slow. My day starts at 4 am so I get to see pre market. Figured instead of looking at memes on my down time why not start investing. My wife is into it now and does the same in the morning. This life is consuming me and my regular day seems boring AF without it. Do you have any resources about this to get started? How did you get your trading computer/monitor setup? If you use the bank WiFi, you may be asking for trouble. Aye nice I’m a Carpenter! Just started day trading a few months ago so I don’t have to wait till I’m like 60 w a worn out body to retire lol How successful are you at trading given the time constraints? Construction manager here. I’m more of a night DD and keep the group chats with the boys goin for any hot picks. You’d be surprised at how many of your coworkers are either interested or already in the same boat as you. Yeah ive done both. I like swing trading because i can focus on more quality stocks whereas day trading requires volatility. However, i still get nervous about overnight action with swing trades. How did you get started? What's your strategy? Hey same. I'm stuck in a lot of meetings too. How much dividend stocks do you own? Don’t automate yourself OUT of a job Ferda >d trading using an option selling strategy. Takes quite literally 2-3 minutes of actual trading per week and the income sweet options seems awesome on paper, but are quite dangerous for newbies. Got any author or material to recommend? videos perhaps? Where is that.Thx Second This. Dont try to force trades into your schedule. I just started a few weeks ago. Had a few really good trades and then lost my gains trying to squeeze in a trade before work started. Wait for the ones that align with your principles. yeah but sweet compound interest isn't gonna build by it self on that job. Yes, this is one of my concerns. Almost every field where there's money to made, far smarter people than me have already have already been entrenched. This is what kept me away from trading for so long. any recommendation for learning options? authors? books? Sorry for your loss. 1k with how much invested? So you haven't been trading even a full year and already made 8K to 60K? Damn dude, what's your secret? Haha me too There is a 36 minute delay fetching comments. I will be messaging you in 2 days on [**2021-02-13 14:44:13 UTC**](http://www.wolframalpha.com/input/?i=2021-02-13%2014:44:13%20UTC%20To%20Local%20Time) to remind you of [**this link**](https://np.reddit.com/r/Daytrading/comments/lhk49b/is_anyone_trading_while_holding_a_9_to_5_job/gmxxc1q/?context=3) [**CLICK THIS LINK**](https://np.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5Bhttps%3A%2F%2Fwww.reddit.com%2Fr%2FDaytrading%2Fcomments%2Flhk49b%2Fis_anyone_trading_while_holding_a_9_to_5_job%2Fgmxxc1q%2F%5D%0A%0ARemindMe%21%202021-02-13%2014%3A44%3A13%20UTC) to send a PM to also be reminded and to reduce spam. ^(Parent commenter can ) [^(delete this message to hide from others.)](https://np.reddit.com/message/compose/?to=RemindMeBot&subject=Delete%20Comment&message=Delete%21%20lhk49b) ***** |[^(Info)](https://np.reddit.com/r/RemindMeBot/comments/e1bko7/remindmebot_info_v21/)|[^(Custom)](https://np.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5BLink%20or%20message%20inside%20square%20brackets%5D%0A%0ARemindMe%21%20Time%20period%20here)|[^(Your Reminders)](https://np.reddit.com/message/compose/?to=RemindMeBot&subject=List%20Of%20Reminders&message=MyReminders%21)|[^(Feedback)](https://np.reddit.com/message/compose/?to=Watchful1&subject=RemindMeBot%20Feedback)| |-|-|-|-| Could you tell me what broker you use? I use hargreaves lansdown but they don't allow stop loss sell stops etc for cross index. Its fine with LSE. You can phone them but thats going to be a pain. what about power outages? it may be far fetched but you have to take measurements even on pc. Did you have any previous knowledge of this trade? I do like my day job. What is macro? lol. Hindsight and all that jazz. *skin care formulator* Do you recommend crypto or forex for starters with a few hours each day and weekends? I’ve been told forex because it’s a little less obscured I suppose when it comes to fees and is more mmmmm “predictable” (probably the wrong word...) Sure, depends on what you wanna do. If you just want to be a code monkey then watch youtube tutorials on ML. On the other hand, if you want to really understand ML then you need a solid understanding of statistics & probability and linear algebra which given your background I assume you already do. Then start with statistical learning, ml and dl and convex optimization. Has it been profitable for you? How did you get started? All the material available are for people who have at least some experience of trading? Aye same here, except I'm in healthcare. Burnt out from covid Noob in my 30s here to I'm a software engineer in my 50's. There's still plenty of room to move up in engineering if you have talent and curiosity. Just FYI. 30’s noob checking in I am 40 and i just started in October 2020! Same, day trading noob in my 30's and in the banking industry. Burnt out from corporate america i’m also a noob, but younger & in the last month made more on robinhood than my software job. there is hope! Also a software developer in my 30's lol are you guys building your own solutions? Late 30's web dev checking in. Are you all Matt Esparza? 31 noob here. I used to write code and I’ve ran small businesses. Giving the stocks a few years 🙏🏻 SMART !!! THAT'S HOW I DID IT !!! NOW I AM RETIRED AND TRADE FOR A HOBBY !!! CHIEF i have been able to put 500$ in per month since October. I lost quite a bit on GAMESTOP, but i am still holding it. i refuse to take such a big loss LOL. I have learned my lesson on getting caught in the hype train so late in the game. I think i am going to only put a few hundred per month in stocks and the rest in ETHEREUM. If so, VTI or VTSAX, set and forget. The fact that we’ve had such a strong market for so long despite the issues we are facing with covid, stimulus packages and historically low interest rates for so long makes me think it will fall sooner rather than later, but I’ve been saying that for 2 years now. The fact that the market is crushing my expectations makes me afraid to start day trading. this is a really great point. I do plan to leave my job to day trade/explore other side incomes that im passionate about but we are in a strong bull market and things will get much tougher in the coming years. However, if you’re like me and spend more time dedicated to trading than working, then it might be time for some kind of career change anyways. I personally don’t see an issue with quitting your job and pursuing trading if you’ve made a financial plan and have a backup option. Better to try new things that you like than stuck at a job you hate. I agree with this. I am a business owner, a successful one, who got interested in stocks when my 3,000 bucks of TSLA went to 9 grand. Then decided to put more money in and now with continuing education, even a noob like myself can see that we are on a nice bull run, that will not continue forever... I'm fairly aggressive right now, as that isn't so risky when you're always winning lol. But the time is coming when wisdom will need to be put to use. My goal, my #1 priority in these easier times is to learn for the bear... I feel like the next bear market is in the next 2-3 years (thought it was going to begin in March 2019, but it didn't last). When that day comes I feel like it's better to liquidate assets, breath deeply for a second, and come up with another game plan. I’m sort of hoping for a correction and at the same time just seeing a ton of new investors and a larger economy... when will it be corrected? As long as capitalism exists, it will be a bull market. Anything you have read that is good for researching bear market strategies? I want the market to stabilize so gains are more predictable. This is true. When the bubble pops kinda like crypto in 2017 when everyday you were closer to a beach chair in bahamas then you were to your office chair. And then slowly it went to shit and you were left with a 28k hole . It feels like the same time and though am out of the hole, I feel like I'll.be back in it. Just don't know when to pull out Early 20’s here too. If you make a gc add me. I’m new to Reddit so idk how to lol Discord *exact...I wanna blame autocorrect, but I really can't spell Can you elaborate on this topic of scalping, I mean I'm going to Google it, but would like to read about your experience with this tactic. Hehe, ping me if you want an overview ,we can have a hangouts chat , I have been pursuing algo trading for 3 years because of my exposure and love for mathematics, robotics , ai and economics/business models given my work and research over the years . Systematic investment/trading more so helps me focus on other activities without focusing on the monies all the time Wait til you learn about the greeks in options trading. There is an Algo trading sub-reddit. Check it out πρόβλημα? greek you say - options trading it is then! Would you like to work together for building a strategy? Day trading I can do, it's programming that's greek to me. Also see r/algotrading ...but the trading part is more important than the tech. It’ll pay to get decent by hand. https://youtu.be/J4y19UdTA9A I just grabbed the first hit on 'thinkscript tutorial' You might like this If you think that’s greek you should check out options Try r/algotrading You gotta learn the greeks, too. Go to ##TheStrat on twitter, super easy strategy to program and it makes sense. I was thinking about doing it previously but have been busy with school would love to see someone do it. True, also there is a law in probability ( u prolly know it) called law of large numbers. This essentially means, for High frequency trading or very short term trading, u need large capital given the shifts. For the same dollar invested in swing trading over a larger yet short time period, your returns are deterministically bound to be greater than hft over a time period because the signal info will exceed duration of short term noise/ chatter which can be confused for a logical consensus based move :) I started doing similar thing. My trades are automated. Either it hits profit target or stoploss. The problem I face is picking the stocks. I have limited time in a day and I can only research few stocks per day sometimes only 1 and If I don't Like that stock then I research next day. How do you pick stocks? Nice, may the force be with you :D, hft/very short term trading is best left to computers posing as hamsters as the really short time periods allow for highly deterministic calculations and projections to optimise the squeeze only given adequate capital Wall-E street.... Wall Street is way too into capital intensive strategies, machine learning interestingly is just Newtonian era statistics made friendly for computers if you observe closely ( I taught Machine,deep learning and data science to software professionals for a living sometime back) This is only an issue if you have less than 25K in your account. If we do it super duper often in a day ,yes.i look at algorithmic trading as an other name for systematic trading algorithmised, what's in a name ei :) ....and will enable 4x margin for you. :) Sure , ping as u see fit :) Algo trading means two things which aren't the same 1) u find a replicable process for choosing stocks and placing orders 2) u code this process into a program for it to go brrrr while u do other stuff We can have a chat if that helps, ping me :) Nice way of looking at it , if computers could automate away the process of making the monies :), it is happening as we speak. Your signal processing and analog electronics chops might come in handy too, my undergraduate degree was in electronics and communication engineering :) with emphasis on robotics and game development Good question, algo trading means high frequency trading/ swing trading/long term capital management automated by a computer program through a replicable process/the algorithm. In the case of hft/very short term trading ,hedge funds will win anyday over retail because of proximity to exchanges ,speed of transactions and the highly likely odds of deterministic predictions succeeding in a very short time period ( like curve plotting prediction basically,where does the line go next in the next two milliseconds) In case of swing trading and LTCM however,the speculative odds are equally stacked in favor of retail as well as institutional algo traders. I recommend (some or all of these might be known to you ) 1) understanding how to choose stocks based on just sectors which would be used in the near future (like drones, cannabis, electronic vehicles, alternatives to meat production, cigarette consumption, fossil fuel replacements for example only) 2) understanding how to sort stocks based on technical analysis of price and volume. RSI,mfi,obv are good to know here 3) understanding modern portfolio theory to then assign amounts to these stocks assuming them as winners for a certain period of time (5d,1M,3M,6M for example) discoooord.gg/NGMadRhpGK discooooord.gg/NGMadRhpGK not a discussion,just using discord to free up my reddit inbox post yesterday's surge :) I wrote a python program which automates my customised logic based trade execution using interactive brokers python bridge for its desktop application among other things . I plan on sharing some of the useful snippets and alert mechanisms shortly via a discord server setup for the same based on demand from folks , the short link of this discordgg server ends with /NGMadRhpGK Yup. I have a couple days off in the middle of the week and there's definitely days I make more trading. I'm a tattoo artist, so there's no guaranteed money anywhere. I'll make between $50 and $900/day tattooing, usually 2-300. My best day trading was significantly more than that, but I've never gone in the red with tattooing. Yes. I work in trading environment in the back office but when systems go down I as supervisor have to coordinate with IT and the PM's to get things investigated and resolved and just Thursday alone we had issues with 3y and 10y spread overs showing the wrong price so j was busy all day with work arounds to make sure trades got out to traders without screwing up their risk and I almost missed moves in AMD & PENN calls to get out with profit...sounds weird but it is what it is...my job is my buying power yes Same Good!:) Risk management and emotional control. I determine buy price, sell price, and stop loss immediately. I don’t watch my stocks closely due to emotional reactions. I believe in my numbers, but sometimes momentum isn’t in your favor, so losses need to be cut. Don’t chase profit with revenge trading, you developed a lower risk tactic that way you CAN eat the loss, don’t build a buffet plate of losses you can’t eat. I risk 2% max of my account per trade ( don’t follow my numbers, find safer ones for starting and scale up) lots a new traders choose sell at a 1% loss or 3% gain. then you’d only have to win 1/3 of your trades to break even. How do you eat an elephant? One bite at a time. I was inspired to start trading by guy I work with. He's been doing light swing trades/day trades for about 20 years now. He's set to retire VERY COMFORTABLY from a blue collar job at 47. He never got greedy. He would set everything to sell after a 10% profit, no matter what it was. Diligently did this over two decades and now he's retired next to a lake in northern Wisconsin. THATS WHAT THEY CALL A SOLID INVESTING STRATEGY !!! CHIEF At what percentage do you decide to sell for profit? I but plug power at $35 and sold at $45. I made a profit but if I held I could have made more but it was a volatile stock. So do you have a percentage or anything before selling? Expose yourself to all types of trading techniques, not just day trading. Low on time and want smaller but consistent profit? Check out dividend investing Learn trends, but you will find often that buying st the end of a trading day and selling at the beginning of the day is a lot more profitable on average than the reverse. this account feels like cosplay Yeah, don’t walk away without a limit though! They’re essential part of trading for me. Lost my ass when I started because my risk wasnt limited ( I could lose 5%-20% then panic sell because I didn’t notice and didn’t have time to see what was happening) but my gains were limited( I’d sell at 3%ish profit). I had the numbers turned against my favor and it took a month for the realization to click. To be honest, watch clay traders free videos. It will expose you and I personally don’t think he’s an idiot like 95% of others. Personally wouldn’t pay for the class though. Lots of different methods/ things to look for. I like volatile and make most my money working off gap ups. You’ll try them all and see what you grasp that fastest, best, easiest. Some people sell in 12 seconds, others sell in two hours. Up to you and your decided strategy style :) It’s an oco order which will cancel the other if one is executed. Good question that I didn’t think about addressing. I split them up in my mind and it’s a given that it’s an oco lol. I can imagine terrible mistakes with that misunderstanding. Good thinking for following up. name checks out at least I'm doing a masters in finance, finding it incredibly hard to care though with the current online learning environment. Feel so disconnected from it all. I read some books and learnt while trading. First month was slow but after that it took off. I’d recommend profiting in bull and bear markets by Stan Weinstein, probably the most helpful book I’ve read The [average directional index](https://www.investopedia.com/articles/trading/07/adx-trend-indicator.asp). ADX above 40 indicates trending movement; ADX under 15 indicates little movement. I found I had better luck learning thinkorswim by random videos I found on YouTube. Study everything. Focus on compartmentalizing what you’re looking at into regions. So look out for things like trends, retracements, and breakouts. Look up more information on market geometry. This is so helpful to hear. I have been day trading for a few months and either breaking even or having small losses. I hear the newbie success stories and wonder what I am doing wrong. I will keep at it. U tube, market moves, in the money, and others like these two. These guys have a ton of informative and educational videos. I primarily use webull on the phone, to me it is easier to navigate than the desktop...but im just a redneck, not so tech savy. My screeners are simple=price$5-25, volume 2-365 mill...there are usually about 50-200 tickers...if i like the chart, i draw cute little support and resistance lines...and i might get fancy and draw a diagonal..then set an alert for price. If i dont get an alert, i dont do it.(not all of the time, lol) i did watch an hour long vid from rightwayoptions heikinashi trading strategy. Pretty simple. Heck one guy at work just looks at his line chart on RH and makes a freaking killing, i still dont know how the heck he does it. Btw, i am not giving anyone here advice, this is entertainment for me only. Usually, 1-2 months out...especially with a low acct. Now that its multiplied quite nicely, i have been getting in on some weeklies, and it varies on strikes, depends on tickers, volitily, volume, delta, theta, gamma, how much it went up or down for the day, where my lines and candles meet or dont. When you start with a little account, you dont have an option to buy calls itm or even near it...an example is pltr...looked good, bought contracts way out of the money for 25 each, 21st of january,..for the feb 19 45 calls(got 3 of them).i started by selling 1 to pay for 3, then the next one, i think for a hundred, then they got up to almost 600 each...and i missed that one, but still sold for 170 i think..this happens alot, i dont have good timing down yet, because if i buy in the mornings, i have to sleep, so i buy, and set the stuff to limit sell, (within reason) then go to sleep, if it hits, cool, if it doesnt, i do it again the next day, just so you know, i have left a whole lot of chips on the table, doing it this way. I dont care and cant dwell on it. Its a game of hot potato with options. Dont get caught holding it last...fun stuff...once you figure it out. Think about this for a sec, i made 375 yesterday in 15 minutes,(bought and sold, just to see if i could do it) if that happens every trading day (just once a day)for a year, thats around 90,000, eoy. Not bad for 15 minutes a day... Multiple contracts...30-60 days out...stock ranging from 5-25 $ started with 4 calls then sold 1 to pay to 2 and the third so the fourth one was free and rode the last ones out for more profit...rinse repeat Lol, thanks! Maybe when i build my account to 7 figures i will go full time. I just sold some calls i had been sitting on for a couple of weeks. Can you expand on ""setting windows"" options? ELI5 maybe? [deleted] NASA WB57 big pimpin I like to go and see what other people that know more than me do in r/thetagang, they also have a couple good resouces on their sidebar. Also, the internet is your friend. work from home, buddy. “Successful” is not a term I’d describe my trading record, it’s more like random chaos. Of course I’ve really just started, so, check back in 5 years. Yeah send me a message and I can give you a few links. Not sure what the rules about posting links here are r/algotrading Your back round is software correct.? You’re definitely way ahead of me so use your knowledge and write code to mine stocks that are emerging. One thing computers can’t equate as easily is the human psyche. It’s obvious most people follow trends so use that to your advantage. My loss? I've made over 2k sir, I don't know what loss you heard of. Of course, I use DeGiro and Lynx both really cheap, but not sure if it’s available in all countries. Hope this helps, cheers! Power outages are far less likely than getting pulled away from the trade while trying to trade on mobile at work. If power goes out, I still have mobile to use and stop loss in place as backup. Of machine learning yes, of finance not really. I myself am only a few months into learning about trading. I’ve been considering but haven’t taken that step yet. I started with crypto. It’s a bit of info to figure out at first but it gets far easier to understand after a little while. But trading crypto is a lot more volatile, I can’t claim to be sure if historically established patterns and chart analysis is as reliable with crypto. I do really small trades atm to familiarise with the process and with the main aim to accumulate more crypto to hold, by shorting on local peaks and buying the bounce. Most people wouldn’t really encourage crypto trading because of it’s volatility but it’s worth noting that such volatility can offer great % changes and is less unpredictable when already in a clear trend over a decent period of time. TL;DR Trading forex might be a better start if you really want to trade, most people just hold crypto. I’m not sure trading crypto is as manageable as trad stocks/forex Im aiming for 5k a month but averaging 10k a month right now I got started dec 2019 after studying all about the forex market etc. I don’t get the rest of what you’re asking? I’m on the same boat. Not just burnt out from covid but from corporate America. I do want to put an effort to learn trading! Same but in my 40s Me too! 30s, healthcare, tired of not getting paid enough. Bout time we little guys make our own ways. Been adding to my 401k and seen minimal to zero gain. No im on reddit researching next TSLA and AAPL [deleted] Same here on that COVID burnout 😅 Same man. Been watching stocks on my “breaks,” wanting to eventually formulate an exit plan out of healthcare. That shit steals your soul. Hang in there! You’re amazing!! I feel this in every level man. Working in the hospital, while listening to the cult. Followed by nursing school in the evening. Burnt out is an understatement right now. I’m only alive thanks to my adderall, and the hope that one of my plays will hit big one day. same boat here healthcare worker getting tired of the same routine thats why im here still learning trading. Which area of healthcare? I am so burned out and feeling so low I feel like an ass to say this but I am also burnt out from covid but I have been wfh for one year now. Daytrading is not exactly ""Relaxing"". If you mean moving up into middle management? I don't recommend it. I hate every minute of every day dealing with people. I feel like a glorified babysitter or everyone's personal Linda, the HR lady. If you have alternative ideas, please share. Lost my job to Covid. Had to sell my home. Too old to start over so I jumped into trading. Made $50k in 2020. First time luck. Thanks Chief!! How much down? Trade purely off of technical analysis and it doesn't matter what the fck the market is doing, you can make money. I am like you. I know when I see green lines and get thousands of dollars on a trade it's pure euphoria. I do the bare minimum at my job so I can check prices, read DD, watch charts, etc. in the hopes of finding that next trade that will give me 100% return. I'm well aware this is a subconcious effect. My brain getting that serotonin and convincing me ""This is fun. This is important. You're good at this. You're part of the 1% successful day traders"". I keep my self down to earth by imagining that if I did quit my job to pursue it and then logging on one day and seeing my self picked stocks drop 50%. I pump myself up. ""This is where you prove you're actually good at this. This is what separates the new guys that don't know what they're doing from the real traders."" I start trading to recoup. But the stocks just aren't moving. Even worse than not moving, most keep going down. It doesn't matter how much DD I do. Everything is red. Only 20% of stocks are improving instead of the 80% I'm used to. I'm dipping into my savings. Cutting cost. Taking larger risk. Having to risk $100k to just get 10% return and still not making as much as your old day job. Constantly stressed. It's not fun anymore. It takes serious capital to day trade in a normal market. So ask yourself if you enjoy and spend time doing it because you're winning? And when push comes to shove do you have the risk tolerance to put your life savings on the line to get enough return to make ends meet each month because you're only getting a 5% return every month (which is probably considered good in a bear marker). I'd rather just keep my day job, spend a few thousand on risky trades as a hobby, and have most my networth in ETFs so I can sleep at night. Keep my job, buy, and hold. That's about as far as my plan has gone for a bear market. I plan on buying a house this year to rent as a way to diversify. And reinvest the funds from the house into a second house. I hope to do that a few times as my main retirement vehicle. Ideally hit a point where I get high 5 figures a month while also building hundreds of thousands in equity. Between that, a Roth in all index funds, a 401k with a target date mutual fund, and a regular brokerage account with ETFs and personal stock choices, I hope to be financially independent long before the normal retirement age. Thats the theory at least. We'll see how well it works in reality. I think it's better than YOLOing my life savings at the current ATH market hoping to retire next year. You can manage risk in your portfolio to stay in the market and be more protected against a crash. Just don't get too greedy. Can I get in on the chat? I am a teacher, trying to make some extra on the side since my job is not what it used to be. HAVE FUN !!! AND ENJOY !!! CHIEF have you generated money doing this? I come from a similar background haha. Some people on r/algotrading love to say you'll never make a dime doing it Very interested in this. Did you use Quantopian in the past? I’m delving into ML enhanced strategies and the infrastructural part of setting up an algo trading platform. Background in cloud computing/entrepreneurship. Very eager to delve deeper into maths and find the sweet spot. I’m curious about your tips. I will definitely take you up on the offer. Thanks! Would you mind if I picked your brain too? I’m a long time firmware/software engineer but my degree is actually in Applied math and I even took classes on pricing options etc. it would be interesting to explore melding these things. What platform do you trade with? Robinhoods api looks easy to integrate with. Is there room for one more? [deleted] If you're setting up anything I'd like to listen/chime in. A Discord would be ideal but Hangouts is fine, too. I am basically a newb to daytrading BUT I am a programmer as well and I have found it invaluable to analyzing data and spotting trends. I guess the thing I struggle with the most is causation and correlation. Just because I find a trend doesn't necessarily mean that it correlates to the underlying causes. That's a VERY important concept. [It's like betting on the winner of the Presidencial election based on whether the Redskins win or lose a football game](https://en.wikipedia.org/wiki/Redskins_Rule). I need to do some digging on the math side and make sure my statistical samples are high enough to make the confidence that something is going on HIGH. Same. I’m in. Even if it’s to learn an algo strategy manually before programming. Hello, I’d also like in on this. I’m in the middle of developing a large graph db/timeseries database plugged into high throughput Kafka streams for real time ML. Been doing it by myself, would love to trade ideas. Is it too late to get in on this chat?? Would live to be in. Mostly JS getting into PY for ML/AI and diversity That stuff tickles the brain just right Is this another way of saying: high frequency trading tends to lead someone to over manage their positions rather than to let them play out? I’ve been using TradingView for my analysis (Fidelity for my broker though). They (TradingView) have a great screener loaded with more technical based filters. I have a saved screen that matches a few basics I want to look for (e.g. 20MA > 50MA). That seems to give me more than enough to pick from if I don’t try to make the screen do all the work - it usually has upwards of 100 companies in there at a time. I’ll look through the screen maybe once or twice per week and pull the ones that fit the pattern I’m working on into my Watchlist. From there I do additional analysis - mainly using Fib Retracements. Edit: unclear pronoun reference Thanks boss - same to you. AWESOME !!! Not if you trade with your own cash. This is exactly what I've been researching to do but I want to use futures not stocks. I guess I'll check out the /r/algotrading subreddit but do you know off the top of your head what brokerages or APIs or methods I can use to PLACE the trade? I haven't seen much information on that. I was planning on manually using Tradovate until I could figure out how to do it automatically. Also, do you know if you can PAPER test the automatic trading process too just so you can make sure you don't screw it up 😂 You far exceed my level of knowledge, I humbly admit the service had a dandy way of inflating us, our heads, until I went to do the same job as a civilian. Then talk about imposter syndrome. Navy taught me how to solder, called it 2M for micro and miniature electronic repair. Think microscope and circuit card assemblies and printed circuit boards, did miniature and didn't get too far into micro. I mean, I can speak the language barely. And have some level of understanding of electromagnetism and RF theory, etc but i don't have any knowledge about programming. I applied for a coding bootcamp in hometown, USA, but VA funding ran out. Which is OK. I don't know what I want to be when I grow up I like trading stocks. Dont think it works anymore, mind sending anew link? I can relate. I was a successful fulltime photographer for almost 20 years and then the past couple years it went down to $100-200/day then $100-200/wk, so I finally gave in and took an office job. It was perfect timing as it was just a couple months before the pandemic and everything shutting down. But I'm DYING sitting in an office all day which is why I want to learn all this. I have no delusions or aspirations of getting wealthy, I just need to replace this office income, and that it's a high bar. > I don’t watch my stocks closely due to emotional reactions. This. Working a 9-5 helps me to mitigate those emotional reactions. It helps me to keep my mind occupied on others things to diverge from wanting to be over-aggressive. I acknowledge it could work the other way too, and induce a need to panic buy. But developing risk tactics and setting limits, doing DD on the weekends, or during boring-ass Zoom meetings at work helps. Analysis. Analysis. Analysis. I can't stress this enough. I always thought of approaching it with a similar rule. My reason for not doing so however is that there are only so many companies to invest in and if I sell at a 10% on one company and then return to it 6 months later and buy back in I'm left wondering if that was just a stupid move to sell... I know you shouldn't see it that way but that's what would play in my mind I look at premarket highs and lows. I don’t get greedy and happily hop out at 6% profit. Sometimes it takes off, but if I did my dd and I said “yeah I not only want to daytrade this, I like this stock” then I’d probably just buy it in my other portfolio for safe stocks. Yeah . My dividend growth is pretty insane. I should be paying all my bills with dividends in 10 years.(if I don’t upsize) Yeah, online learning sucks the joy out of it. Half of the reason people go to graduate schools is the networking. That’s really helpful thank you! Thank you Is it a pretty good and recommended indicator to use? Couldn't RSI basically tell you the same? I guess that could just tell you if its a good entry point. But an 9 vs 21 day EMA would tell you if its bullish or not right? Which is basically what ADX tells you? In the money is such a great channel. I like the Humbled Trader as well. Both give such honest advice. Thanks for the reply. Makes sense. I'm going to check out that rightwayoptions video. very good, I am learning about options and this sound interesting. Are you saying ITM would be better? How'd you find them? That's awesome congrats. I am new to options and learning them with paper trading. Any tips? Not op but probably talking about windows of time to check stuff instead of all day Thanks for the advice OK, GOT IT LOCKHEED ORION HERE !!! CHIEF Dude that's rad af. I'm just working on king airs right now but would love to work on NASA shit one day. How'd you get into that? *Reddit has a 43 minute delay to fetch comments, or you can manually create a reminder on Reminddit.* **What_U_KNO** , KMINDER 5 years on [**11-Feb-2026 13:54Z**](https://www.reminddit.com/time?dt=2026-02-11 13:54:13&reminder_id=72c0b75727ff464983b442b9dd63611d&subreddit=Daytrading) > [**Daytrading/Is_anyone_trading_while_holding_a_9_to_5_job**](/r/Daytrading/comments/lhk49b/is_anyone_trading_while_holding_a_9_to_5_job/gmxr8om/?context=3) > Of course I’ve really just started, so, check back in 5 years. [**SEND PM**](https://reddit.com/message/compose/?to=remindditbot&subject=Reminder%20from%20Link&message=your_message%0Akminder%202026-02-11T13%3A54%3A13%0A%0A%0A%0A---Server%20settings%20below.%20Do%20not%20change---%0A%0Apermalink%21%20%2Fr%2FDaytrading%2Fcomments%2Flhk49b%2Fis_anyone_trading_while_holding_a_9_to_5_job%2Fgmxr8om%2F) to also be reminded. Thread has 1 reminder. ^(OP can )[^(**Update message, Delete reminder and comment, and more here**)](https://www.reminddit.com/time?dt=2026-02-11 13:54:13&reminder_id=72c0b75727ff464983b442b9dd63611d&subreddit=Daytrading) ***** [**Reminddit**](https://www.reminddit.com) · [Create Reminder](https://reddit.com/message/compose/?to=remindditbot&subject=Reminder&message=your_message%0A%0Akminder%20time_or_time_from_now) · [Your Reminders](https://reddit.com/message/compose/?to=remindditbot&subject=List%20Of%20Reminders&message=listReminders%21) · [Fuel Me](https://paypal.me/reminddit) Where did you start? You're kidding me. 5-10K a month while holding a day job? I'm trying for 30-$50 a day as a beginner and most people tell me it's unattainable. Do you have background in finance? I just want some financial freedom, I cringe at the thought of having to work till 65 to die right afterwards. This ^ Fudge corporate America Right there with you. We're all burnt out on making someone else money. Which area of healthcare? I am so burned out and feel low that I am having so much negative thoughts and doubts Same same same lol Respiratory therapist here, travel contracts are lucrative but who knows what you're getting into. Covid just really showed me how fucked healthcare is and how no one gives a shit. I took a major CARES act withdrawal last year, gonna use it as capital They trick you with that 401 mess that’s just for 5 percent of your income to saving BS ITS GOOD but you need to open a brokerage account and deposit what you can. Same bro, same. Stocks have given me new life Trading steals your mind Respiratory therapist, perfect time for a pandemic to hit No, I mean continuing to be an engineer. Experience and proven skills are valuable. Good companies will recognize and pay for that value. It's not for everyone. Some people can't keep up or aren't interested enough to stay focused. Some people, honestly, aren't that good in the first place. But if you are, there may still be bigger money to be made in your future. My salary doubled about every 8 years, and it didn't stop when I was in my 30's. Management doesn't interest me. Solving hard problems all day does. I know you *think* your employer would never pay you more than they are now, and you may be right. But they're paying *someone* more than you and a different employer will often pay *you* more to get you to move. AWSOME !!! CONTINUED GOOD LUCK !!! CHIEF Ok how u make that How much did you invest to make that back? YOUR WELCOME !!! HAPPY TRADING !!! CHIEF Just over 1K! Correct. Made money today trading APHA. Going long. Man sounds like you need to get some help... Not saying trading is for everyone but if you like it and are focusing more of your time and energy on it, why not try doing it full time. Worst case, you’re not good at it and you have to get another job. Sure,ping me if a chat would help U too :) Here's a sneak peek of /r/algotrading using the [top posts](https://np.reddit.com/r/algotrading/top/?sort=top&t=year) of the year! \#1: [NEW RULE: Anyone found pumping stocks or bringing attention to individual tickers will be perma-banned. We are not WSB. This is an algo trading subreddit.](https://np.reddit.com/r/algotrading/comments/l9k2pl/new_rule_anyone_found_pumping_stocks_or_bringing/) \#2: [Would anyone be interested in a beginner series of posts?](https://np.reddit.com/r/algotrading/comments/i7fu9r/would_anyone_be_interested_in_a_beginner_series/) \#3: [Some of my algotrading/trading book collection](https://i.redd.it/x2jnbmtaz5h51.jpg) | [108 comments](https://np.reddit.com/r/algotrading/comments/ia6wrv/some_of_my_algotradingtrading_book_collection/) ---- ^^I'm ^^a ^^bot, ^^beep ^^boop ^^| ^^Downvote ^^to ^^remove ^^| [^^Contact ^^me](https://www.reddit.com/message/compose/?to=sneakpeekbot) ^^| [^^Info](https://np.reddit.com/r/sneakpeekbot/) ^^| [^^Opt-out](https://np.reddit.com/r/sneakpeekbot/comments/joo7mb/blacklist_viii/) Yes,more than a dime for sure lol I used ml-dl for building an automated team of soccer robots,a HR/Bank query chatbot, automated captcha recogniser and a self flying drone. In case of trading however,I wanted to use classic mathematics with minimal local DL as computers are really dumb at processor level to ensure maximum reliability and performance . I used quantopian briefly,but have personally found tensorflow and pytorch running locally with optimisations to be much more reliable and useful. Given we mostly work with usually only 30 years of historical data which is already available , I highly recommend a completely localised setup which should be more than capable.Think python script as a distributed job execution engine with rules provided by either an ai inference engine or good ol maths/technical analysis. The maths and tradonomics involved are worthy of a separate discussion altogether :) Hehe Sure, ping me :) Interactive brokers because their desktop application has a python bridge which allows my python script to place orders/ read data ( For data however,I use yfinance and Google real time scraping to keep costs close to minimal) 😂, just ping me yow, we chat based on feasibility No group chat perse,just chatting 1-1 with people who pinged Libraries used: Python - ibsync, beautiful soup for real time quote scraping from Google search, pandas-ta, yfinance, not so secret sauce of trade execution is custom coded to ensure reliability. I used tensorflow earlier for a reinforcement learning approach using modern portfolio theory and market sentiment, found it to be too computation intensive though from an architecture standpoint :) Ping me for a 1-1 chat :). As implied, consensus is king I recommend (some or all of these might be known to you ) 1) understanding how to choose stocks based on just sectors which would be used in the near future (like drones, cannabis, electronic vehicles, alternatives to meat production, cigarette consumption, fossil fuel replacements for example only) 2) understanding how to sort stocks based on technical analysis of price and volume. RSI,mfi,obv are good to know here 3) understand modern portfolio theory to then assign amounts to these stocks assuming them as winners for a certain period of time (5d,1M,3M,6M for example) Sure,ping me via Reddit chat discooooorrrrrrrrrd.gg/yh5GcZk2 Yup, be it humans or computers, in this case we waste more computing power than needed which would be viable if the amount invested and expended by the process would be worth the same What? Can you elaborate on this? Interactive Brokers api is reliable. Yes, by getting your program to make estimates of returns in real time and compare them with historical returns in a period of time,you can do one form of paper'trading.my program uses Yahoo finance data directly saved as csvs instead of relying on third party or paid paper testing Ping me via chat if I can help u :) ( link: discooord.gg/NGMadRhpGK) I hold a safe portfolio also. Also a dividend portfolio. Edit to add: Dividend portfolio is being built to cover my bills, even if the market tanks, I have my dividend payouts that will not change. I pay for simplysafe dividends. 300/year, worth every penny. Safe stock portfolio holds majority of my capital. I expect it to double every 5 years and that’s okay. I have 25k in cash savings in case of a market crash( buy the fuckin dip). Personally think everything is a bubble, but that’s a debate. Day trade portfolio is actually tertiary to both of these, and I often move profit over to the other two. Oh cool gotcha. Relatively how many stocks would you say you trade per week? If you don't mind me asking. I'm just curious at want realistic amounts someone day trading makes. I try not to get fomo but don't have a couple grand to waste which I know is a red flag. But I've made some profit from pennystocks so I'm just curious. Please let me know what you think, after you do. Lets all make some money! In the money is always better, (until it isnt) as long as the stock is still moving up(for calls)...you can still lose money, if it trades sideways and you paid a high premium, theta can be your worst nightmare..learn the greeks, and implied volatility, learn what happens on the option chain when volume upticks, or drops, when price rises and falls, when it goes sideways, etc. I know there are a few platforms where you can see the price diff on an option, like the ticker chart. I like watching that if i am about to get in on something, i might not be really good like alot of people here, and i dang sure dont have a big account by any means(yet). And also, i do not trade with all of my money in my account...right now i have 17,400 just sitting, and 3,000 being used, and i am not on the winning side on it that is in right now.(but that is part of it) example 3/19 $16 call for microvision i bought on the 9th, i was down 270 on my micro vis calls after i bought them(3 for 400 each)and sold them all for a little over 2,200.) I am not greedy, i am just happy i am finally figuring some stuff out. I have a long way to go still Youtube helped me. Look up some screeners to use, like i stated above, and then adjust volume to your liking, one thing that might help everyone, if you buy multiple contracts, there has to be enough volume on the contract for you to get out quickly...it is all a game of hot potato. Dont be the last one holding it Definitely doable but it took time and capital to learn how to trade and make profit consistently, still learning and seeing other do way better then myself with less capital which i might start adapting their strategies in the future Nope :) completely new to trading but I love it. I started with 200 and now at 2700. Tomorrow, I’m aiming for a 50% profit increase with my method. And then repeat that daily for this week. I have blown accounts 3 times since last year as well. 😂 for full transparency Same here, mid 30's looking to get out of corporate supply chain. Do not want to hate my life until I'm 59.5 years old Same. I have been working 80-100 hours a week for the last ten years and I am over it. I probably don’t need to, but we got accustomed to a certain income. At this rate I will be working until I am dead. And if I get to heaven, they will probably just give me a damn job there too. Die right afterwards? Are you in poor health? God bless us..🙏 I know you're right. I'm really burnt out having to be social all day. I was happy to find a company that wasn't stagnant and I'm making 90k more than I was a few years ago. But, it's definitely time to get back to what I love and excel at. To be honest I started watching the stock channel and researching what they recommend- then mostly went with my gut. Also I tried to read the economy and what I thought would do well during Covid. Don’t go with the chatter - you need to research or you may be taken down a bad road. 35k Could you elaborate a little on your financial path? Ive just started trading this past year and would like to know how you operated the beginning stages towards retirement. Oh that's nothing I lost 10k on the flush Should of went to Vegas would had free drink and food So, you shorted APHA today and now you're going long the next trading day? I don't think that is worse case though. Worse case is setting yourself back a few years from risking money trying to do something that very few succeed at. Going to day trading is not the same as a career switch. I would be very concerned for anyone who treated it as so. Also in a fairly similar position! Mechanical engineering with an upcoming masters in CS. Need to start branching out before I get stuck in my job. Can I hop in and listen to what you have to say? This guy is awesome.sorry I’m too poor too award you so 🥇 awesome haha It’s hard to do, there are so many variables involved in the price and deep learning only looks at past data to make a prediction. Past performance in never a good indicator for future prediction. You can instead try to come up with a convolutions neural network and learns the patterns of a graph as an image. That might work. Damnit. I wish I was smart. All the smart kids are getting together to smash it. On that note, for what it’s worth: all you IBKR users (at least the Pro ones) should check out [Capitalise.ai](https://www.interactivebrokers.com/en/index.php?f=35735). Algo trading, somewhat, using fairly natural language. I use IBKR, but have never touched Python (Java, Objective-C, C++ experience). Got any links or documentation? [deleted] 1 and 2 are pretty much covered. For swing trades, I’m mostly in tech. For long positions, cannabis, ark funds, and some tech stocks. I’m not really into day trading yet but I’ll definitely read up on MPT to see where I stand. Thanks! Edit: I’m not a developer but I am technical so python programming a strategy is of great interest to me especially in swing trades. I’ve been day trading with my own cash for at least 6 months, multiple trades per day on TD Ameritrade. Have always used my own cash, never used their margin funds. No limits or restrictions. ETA my balance is around 3-6k ysusally. Nice! I'll check out their API. Do you know if they offer mini futures (the currencies)? Or at least where I could check? I was looking at Tradovate and they DO offer them: https://www.tradovate.com/resources/markets/margin/?group=Currencies But now I am much more interested in Interactive Brokers and this API. ARe these mainly with the same broker? Do you have one that lets you set multiple accounts like this? I'm thinking about a long term investing account, a swing trading account and a dividend account. 10ish round a day, 5 days a week. If I don’t have anything to do I might sit there and momentum trade using the momentum indicator. I can trade 50 times a day and make much more profit doing this, but it’s effort and time consuming. Every now and then you find a $3 stock that just flops like fish with the $.50 spread in that peak and trough. Normally risky business, but extreme profits to be made. For example, sndl was doing this yesterday and I made 3% every 5 minutes on every trade for an hour. I could have just bought and held, but then I would have made less. And let’s thank god I didn’t try it today. I purposefully didn’t touch a weed stock today because the hype got so loud. thanks man, that really helps, I'll get on learning all the greeks and how the price moves, yeah keep up the good work! well, good luck. Just curious are you also married with children? Nope, but you can die at any moment. Seen it happen in kids even. STARTED OUT SLOW AND EASY !!! I USED TO READ MONEY MAGAZINE ALOT BACK IN THE DAY !!! RESEARCHED COMPANIES I HAD AN INTERST IN !!! BOUGHT STOCKS IN SMALL BLOCKS INSTEAD OF LARGE CHUNKS !!! BOUGHT WHEN EVERYONE WAS SELLING !!! IE LIKE TODAY !!! AND SOLD WHEN EVERONE WAS BUYING !!! HAPPY INVESTING !!! CHIEF LOL! No I bought APHA yesterday and sold into an expected bounce diiiiiscord.gg/NGMadRhpGK :') comment is priceless though, thanks True, given the random walk hypothesis, long term speculative predictions based on past performance= crap, I hate the reasoning of DL given the black box approach of the nets optimisation even though I had to use the same for some of my professional assignments diiiiiscord.gg/yh5GcZk2 https://github.com/erdewit/ib_insync Problem with using ml or dl or rl here is, market landscape keeps changing every five days or so (don't take my word for it), so you will have to keep retraining your model lol. Recommend an algorithm based on technical indicators combined with consensus and value investing/near future demand based sectors Steps 1 and 2= your winning Alpha :), to each his own Give them a call. They have a plethora of services. I like ibkr because they are reliable and they have a stock ticker lol Oh wow haha I don't have that kind of time. I guess I'll just stick to my 3 or 4 a week. Make a profit hopefully. But I can't do what you do working all the time. I usually can't check my phone long enough for that. You as well! Married but no kids. My wife and I both work long hours. She is a nurse at an overrun hospital. We both work minimum 6 days and 65 hours a week. We just don't have the time to think about children now 33 married 2 kids just started and learned a hard lesson with the GME frenzy. Ouch Good shit 👏👌 Sounds like a great opportunity you are offering the general public. Can you share an open link to the group chat?? 😉 Is it possible for me to hop in and listen to you guys? Also very interested in trading and would love to learn more! [deleted] Just curious, sounded like you were in a hole.. your expenses must be high.. sorry for digging I'm not judging 30's married with 2 kids myself, but paper handed GME near the top. I guess 3rd time is the charm on knowing when to pull out. EDIT: Thanks for the gold! My wife did not find this as funny as we all have. What happen on GME? 😂 no group chat because it is exhausting, Just ping me :) for a 1-1 query session( edit: discordDOTgg/yh5GcZk2 given number of requests, accomodating the same) Same, I am slogging my ass in the day job, would love to be part of this chat. discoooord.gg/NGMadRhpGK, my inbox was beginning to explode I’d love an invite to the group chat as well! Group chat is kinda nice, would love to have an invite diiiiscord.gg/NGMadRhpGK diiiiiscord.gg/NGMadRhpGK We are not in a hole.We paid off all debt. I'm not very smart but I was raised in trailer and I only know that hard work pays off. We live with the philosophy of giving to others what they need despite themselves. This deserves gold but I'm too fckin cheap, anyone else???? Ayyeeeeeeeee I'm a retard. I dont pull out And I don't sell 40 years old with 7 kids... I'll never pull out! Its called a pump and dump, if you're new here don't worry you'll see many more Fellow redditor, I commend you for extending out like this. Giving others the chance to expand their knowledge is priceless in my book. As taxing as it may be, you are helping others your efforts. Well done! Am I too late for the chat? 😁 Can i join as well Don't know enough to ask the right questions but just wanna say people like you are what made this sub and the site so great. Just volunteering knowledge may not seem a lot but the potential effect it has on people's lives is uncapped. Thank you. Got it ✔ I already know that... diiiisssscord.gg/yh5GcZk2 Just ping me with your queries :) via reddit chat :) all for one and one for all discooord.gg/NGMadRhpGK , exploding reddit inbox :l RIP to your ping box :')" "I've been successfully trading since the late 90s. All I have is a single cheap 27"" HP monitor. What gains did I miss out on by not having 6 monitors?",3286,https://www.reddit.com/r/Daytrading/comments/lowvnw/ive_been_successfully_trading_since_the_late_90s/,"Most people confuse activity with accomplishment. They confuse complexity with productivity. I trade on my 13” MacBook lol. Haha love it, going to upvote you...I have traded since 1995.. I have 1 monitor but it is 32 inches but I find it hilarious when I see 3-10 monitors...the only thing I'd say with that is you can have the monitors focused for chart's, news or specific stocks.... Occasionally I'll take out a laptop and use my phone also... actually I use the phone alot Idk. I do FTMO and I feel like I only need two screens, and that’s mostly just so I don’t have to alt tab to check for conditions while I’m gaming. I use 4 monitors. I have 1 for actual trading, 1 for chat room, 1 for my scanners, and the other for monitoring whatever stocks I have on watch for the day. Maybe its overkill, but there it is :) I came from IT (programming, security) and I can really appreciate these multiscreen setups from a convenience point of view. But for trading I’m pretty comfortable using only a tablet and a phone. [removed] For me multiple screens just make it easier watching charts and doing research. But I’m also the kind of person who has like 200 tabs open in my phone browser. Would you be willing to share a bit more about your trading pattern? You mentioned just working opening and closing time frames. I’d love to hear more about what you’re doing! Idk I actually ditch the computer once we are well into session and just use the phone for most of the day. I know of some prop traders (futures markets) who have 6 or more screens. Most of them are watching price ladders on 1-3 screens, some longer term charts and market profiles on other screens, and Bloomberg and Reuters terminals on others. Many of those traders are focused on geopolitical events, assessing whether the market is more of a risk on or risk off environment and trading market correlations. Personally I mainly use a single screen but I do move some windows to my second screen when needed. Those screens are a way to maximize dopamine levels while looking at charts. Also, it looks more.like you're working when looking at 6 screens vs looking at your phone. Wait y’all use computers? I use my iPhone? What am I missing? Lol There will always be play to miss out on. I don't really need to watch them all in real time. You missed out on lots of YouTube and Reddit likes in our consumer porn culture. Two displays is the ideal IMO. One for a grid of charts you are day trading, the other for research/watchlists/chat. This is funny you say that I was just thinking about this last night when someone posted a 6 monitor set up. Then I was like I wonder if there is a correlation more monitors more money ? And I was also like well the only good action that happens is 2 hours into opening and 1.5 hours before market close. Would be a cool study Multiple time frames. Watch 3 stocks on the 5 30 2 hr chart at once for an example. Not saying this is a good method or anything. Just an example I'm trying to convince my husband to allow me to get one of those fancy desktop setups with 4, 5 maybe 6 monitors!! He looks at me as if I'm crazy and just asks how many of the monitors will I be using for porn 🤣 Only 2 I tell him hmmm😉 I only use two. One for trading and the other for a browser/Discord/anything else. I only use two screens and that's just because I like to have other stuff open while I work. Anymore than two screens and I don't think my ADD could handle it I trade insults with my neighbor over the fence. The bigger the setup the bigger the boss. Maybe you need to consider how hard core you want to be and get six or twelve monitors like a real boss trader. I don't think its about ""need"". Any of the traders that have several monitors trying to claim that is what is required to profit are simply wrong, but some have their preferences which is fine. For example, if you've been profitable for years and have the money to spend on a sick looking setup without worrying about the costs and that's what you wanna do, then why not? While away from home for a few weeks, I traded using my iPad Pro and my phone. It was liberating. TOS is actually pretty slick on iPad Pro and having the touch screen changes everything . Here’s why I have 6 monitors. I trade the open only for 45 minutes and only use 2 while trading But researching and inputting data after hours makes work 100x easier rather than flipping through tabs Monitors are only a couple hundred extra. Not a big deal. Whatever makes you money I trade on my iPhone that’s mainly it. Rarely I’ll open thinkorswim on my laptop I trade on my Apple Watch Series 0 I trade on my phone and avg 700-1000$ gain on a weekly basis. Monitors are overkill. Helps to view many stock at the same time I suppose. I've used ipad as my primary device on and off for a year, and get asked all the time whether it can really replace a laptop for most trading-flow. The answer is generally yes having high speed connection of 500 mbs much better then 90s Motorola beepers with 3 inch size chart They do it for the Gram I'm rich and have poor eyesight. Who cares how many monitors people have lol. Use whatever works for you My TRS80 still kicks ass except it’s monochrome so it’s hard to see red and green. Other than that it’s 2k of Ram is all I needs 10 monitors are for those who haven’t found the zoom out button on a chart yet 🤭 I trade on my cellphone You aren’t missing out on anything except possible convenience. I have a multiple monitor set up, but only 1 of them really gets used for trading. The other 2 are for my day job and if I switched to full time trading they’d be of no real use I'm curious what ur average yearly return is. Not being a wisea$$ here, I'm genuinely curios. Please let me know. If ur even close to mine, I'm over thinking this. I'm watching things from 4am central time, until 10pm. I also get up at 1am, for 5 minutes, to check futures. Thanks. It’s important to have at least 5 monitors so when you go to make your sales pitch on YouTube young people who don’t trade are like “whoa he/she knows what they’re doing”. But in all seriousness I’ve been working in accounting for the past 4 years, and it does provide an efficiency boost having multiple monitors, and makes it much easier for comparison/analysis. However, I feel like no matter how many more monitors you have efficiency plateau’s at some point. So having 6 monitors may be just as good as only having 3 for some folks. Depends on the type of work. At least three fiddy When someone asks why I have 6 screens I just show them *this:* [https://www.youtube.com/watch?v=BZZQVVQUg08](https://www.youtube.com/watch?v=BZZQVVQUg08) Right now 4 is the best number, but you can do 6: Top left would be technicals on daily for main indicators like vix sp oil etc. top and top right would be watch list and charts for chat room announcements, items on scanner. Bottom left would be account summary, scanners, alerts. Bottom centre is trading screen, execution, chart of main stock. Bottom right is streaming, ping, email, social media, discord, news website. The government says its legitimate expense for day traders. Smart phone and literally single hand placing buy and sell orders, been profitable for years. 6 monitors is hilarious I am new to trading over the last year. I lost an embarrassingly large amount of money (that I already had built up from investments in my non-retirement individual account) until relatively recently. Now I have my own very simple setups and edge that are consistently working. I learned them almost entirely from one of my repeated mistakes before. Anyway, I largely agree. I mainly use a desktop and monitors that are years old (sometimes a years old laptop) and dual screens. Purely for my own kind of logistics, though, I would like larger and more screens. Would just be easier to watch the streaming order book and otherwise quickly move between the opportunities I am searching for without constantly hunching over in front of my screen. That’s all. We live in a condo, though, and I don’t really have space for them. And they are in a space visible to visitors, and I don’t like to talk about trading with others (who are not into it) and don’t want to explain a bunch of screens, so there you go! One very high tech suggestion I have for people is a Purple (or something similar) seat cushion for your butt. What are you missing out on? A E S T H E T I C S I use 5 screens total, 3 monitors, my laptop screen, and an iPad. Monitor 1 - My actual trading platform Monitor 2 - TradingView because my actual trading platform lacks in charting capabilities Monitor 3 - Flexible/Used for research/email/personal stuff Laptop Screen - Scanner iPad - Trader chatrooms/discord I mean i use my iphone I use 2-3. 1 for searching and looking things up, 1 for active trading/notes taking, 1 for procrastination/social media/netflix/twitch/YouTube/whatever. I’d love to know what you trade. You mentioned having only 3-4 you normally trade? I trade on a 3x6 screen using my thumb. Get with the times old man. I use my MacBook Pro and just swipe left and right from one desktop to another. One has charts and the other has discord/reddit. If I’m putting an order it’s usually thru my phone lol. I trade on my Pokédex I use 2 monitors but only because I had those for something else I use two monitors for. I have positions and tools on one side and charts on the other. Doesn’t make me more money. Just streamlines feature access. Lol I just use my phone get with the times old one I trade using my Zune Most of those people with 6 monitors arent even profitable traders. To impress people. **Monitor 1 -** Ticker #1 I'm trading **Monitor 2 -** Ticker #2 I'm trading **Monitor 3-** Quad-chart with SPY, QQQ, XLF and XLV I reference for taking trades in the same direction as the overall market if the ticker is correlated to it --- If I had more monitors they would be the following so I wouldn't have to alt-tab as much **Monitor 4 -** Chatroom I subscribe to. Occasionally I'll find setups on tickers I wasn't watching through it. **Monitor 5 -** Ticker #3 I'm trading (happens on occasion) or other time frames of a ticker I'm watching. I usually make entries off of the 2m but the need 5m-1h to look good as well. Right now I alt-tab to it and my quad-chart **Monitor 6 -** Tri-chart of VOLD, ADD, and TICK to again try and have the overall market going in the direction of whatever I'm trading I game, trade, and stream. 3 monitors plus phone. Fucking. The whole Call of Duty series, man! Get that second monitor up. You’re not too late to jump in on Borderlands V. I personally can't imagine running everything I do on one screen since knowledge is power and coming from the tech world, I DESPISE having to click through various windows. I run 3 main monitors + a laptop screen (27"", 32"", 27"", 16""), all 4K. I'm generally running the following: -3/4 charts across different time frames, across 4-10 stocks each. -Scanner -Watchlist -News streams - text(1 for main stock I'm trading and 1 for my watchlist) -Options panel for 1 stock -Finance news video stream or squawker I also run two different brokerage platforms for various reasons (different commission structure mostly). Its not enough screens and I will be scaling this up in the near future. Also, given the relative cost of screens, its hard not to justify having additional knowledge. The all tend to pay for themselves in an average day of trading also. Seeing as no one else has asked, do you have time to be my mentor? I don’t trade I hodl I work on a small laptop screen. It would be nice to not have to manage the space as much and have other charts up simultaneously. Some people trade different styles than you that require more spread out attention. How can you be trading since the 90s and not know this? Assuming this post is satire. Same here had 2 monitors at the most. As of right now I'm on one. Never saw the need for more. Guy I know who couldn't trade to save his life ""had to have at least 3"". Weird. if you need 6 monitors to trade youre a fucking nerd iPhone is more than enough if you know what are you doing Been trading since last year. I use my phone exclusively, and I can't imagine trying to set orders based on what 3 screens say. A lot. You missed out on a lot of gains. You’re being a little snarky, no? I have doubts about someone successfully daytrading for over 20 years. If you've been successful, you should be on a beach somewhere. As a young dude who was born in the computers, you are literally handicapping yourself by having only 1 monitor... No matter what you do on your computer, a 2nd screen will always be worth it, unless you are a computer illiterate who doesn't want to learn how to use a mouse and keyboard efficiently. Mostly just for keeping a close eye on prices. It makes things only a few seconds faster than opening up a window after receiving an alert, but sometimes those seconds can matter. Or sometimes I'll use one screen for TV and news. I use two monitors, one for my chart/trade window the other I'll use if I want to look at footprint, depth of market, financial news or just browse the web. I could see using only one monitor but the occasional switching between windows would be annoying. I think it depends on the style of trading. For my swing trading positions a laptop is just fine to flip through charts and identify positions I want to take. When I’m daytrading / scalping options I use 1 1/2 monitors (27”) on one monitor is what I’m actually trading and it’s charts and the other is for the market internals and chat screens. I think the other factor is that today monitors are cheap. I could fit everything into a single screen but why. In a bit older than twenty years ago when I started trading and my eyes appreciate running things a little bit bigger. I was a professional commodities market maker and had 9 monitors--all just for TT ladders How do you use that monitor, though? And at what resolution? That night be equivalent to having 2 monitors. I prefer using 3 because I don't like switching between windows (alt+tab) or desktops (i3). imo, amount of screens will depend on what youre trading style, if ur trading 3 tickers, then you won't need a lot of monitors, once i have a large acct, i would like to daytrade trade a handful of the same large caps, till then, im trading the high premarket/market gainers which requires me to have more monitors. that's just me This doesn’t have to do with trading, just working in general, so take it with a grain of salt. I used to work on one monitor, but now that I work on two monitors I’ll never go back to just one. I tried it for a while and just got frustrated. It’s not that I need to work on more than one monitor at a time, it just makes it easier to organize information while I’m working. Maybe 6 monitors is excessive, maybe not. I’ve never tried it. Personally, I could see myself getting more monitors for work. Not because I *need* them, but because I want them. I wouldn’t have to switch between things I want to stay in my view. I would have more “room” to organize my thoughts. These days i use a laptop and sometimes even the phone to put in trades . When I worked tech for a large bank there were traders that had six monitors, but that was usually because they were managing multiple computers running algos. I am thinking about adding a fourth, but I wouldn't need this if I didn't stream. I would probably be fine with two monitors and a desktop manager otherwise. Since you're experienced trader, do you have any advice or tips for beginners like me? Would be glad if you could answer some of my question 1. Do you trade everyday. 2. Which one you could suggest : daily trade, swing or position trading 3. Since you've been trading since 90s, do you think in the near future there will be a massive correction after a super bull run started from march last year Your advice would be much appreciated 2 screens max. One for each eye. Anything else is just for show. What are your entry and exit criteria? I started following stocks in the 80s but due to living overseas was unable to open a brokerage account. I’m not American. I am investing now and use well worn strategies so it’s just a matter of keeping up with news on favoured stocks. I have been wanting to do a little trading with options. Absolutely agree there is tons of information that is unnecessary. I am in the process of reducing my area of focus to a few stocks and one or two types of trades. Focus Focus Focus. I have only been trading for 4 years and recently asked this same question. They just do it for aesthetics. Its like the kids who think they can run faster if their shoes are cool. I work full time on my main monitor. I use 2 other monitors for monitoring charts of stocks i am watching that day. With focus on work I really don’t think i can watch more monitors. I read that you only trade few stocks. Do you mean few stocks for that day or you always trade the same stocks? If its the latter then you mind sharing what they are? Really curious. Stimulation for me. I love having the ability to watch several items on my hot list and scrolling though news sources, and of course Reddit. You can loss money on 3 screens. 😎 LOL try zero monitor, between this year and last year, I profited about a quarter million dollars from swing investment and all I used was my phone to trade. Not a single trade was created on the computer and for the life of me I think the website for E*TRADE along with their pro trade app on desktop is way too tedious, I prefer to stay their simple phone app. Most traders now have a monitor strictly for social media. That's one source of information. Oh shit, they're on to us! Quick, sell all your HP monitor parts manufacturing positions. ~ WSB, probably I can trade on just my phone. But my setup at home has 3 27 inch monitors. It makes it easier because 1 has my broker with whichever stock I’m most likely to trade next. Then my middle monitor I usually have another broker open (TOS typically) with my charts and I research and scan on that monitor. Then my third monitor has my group chat up with callouts, scanners, etc. You Sir, have just saved me the expense of 5 monitors 🙌 depends guess what kind of trading you do. I use a laptop and 2 monitors. 1-2 monitors have charts and the 3rd one just for me to browse reddit :D. Trading is boring and watching ticks up and down is stressful lol how many markets do you trade, and how many (average, range) trades per session? Theres no reason other then it looks cool. You can fit like 6 windows on one screen, theres absolutely no reason to have 6 screens with maximized charts I use a 6.2"" screen size... 🚀 I sell weekly options on my phone while laying in bed on Monday mornings. Maybe give us some pointers on how you trade? Apps, brokers, etc. I have a 38"" monitor that I use but also for various things. It's basically like having 2 monitors. I also don't get why some traders need more than 2 monitors. I usually just focus on 1-3 stocks and scalp them. I also do my homework the previous night and early morning so I just stick to what I'm going to trade for the day. Watching more than one option at once.trading cryptos and on hype some crypto’s move nearly identical for a few minutes before one goes up and the other down.so 2 screens 2 wait for them and a 3rd one to move for another option to trade at the moment.maybe a 4th screen for news tickers or something like that and a 5th to put on some 15m diagrams.at the moment I only trade with one screen or my phone but I see the benefits after missing a trade here and there because I was busy in another one Do you think people in general overcomplicate trading? Im looking for a vertical monitor. Or, one which I can flip vertically... suggestions? What desk is this? I’ve seen it everywhere. You say you’re “not being sarcastic” but it’s so obvious you are. Your question is hilarious, and I appreciate it : “what gains did I miss out on by not having 6 monitors?” ROFL. Come on man, just own that sarcastic humor, let’s not pretend. I think 6 monitors is an overkill for trading unless you have a poor vision and need everything enlarge. Or maybe 1 monitor is for playing, 1 for social media/news (Reddit, Twitter), and the other is for porn. Nothing. I have one screen. I also have 1 set of eyes And I’m just making trades off my phone hoping the options play goes up a dollar I have one to watch the markets and another to watch tv or movies on. Like you been trading since the early 90's and after I've hit my trades I am done for the day. They work great for porn multitasking. Been trading since 96. Used to have 5 monitors. I now use my phone only. Best thing I've done is move to phone 2 years ago. I’m guessing you have a defined niche. Those of us that learned from YouTube and what not are all over the place with strategies and ideas. I have 2 monitors, on for the stock want to trade and another for thumbnail charts (like Jared Wesley from live traders). Left monitor for my zoom classes right monitor for TOS. 1 monitor for scanners, 1 monitor for charts n lvl2. third for spreadsheet or video game You are missing basically some unnecessary expenses. I like having four - chart, broker app, web browser/discord chat and CNBC/foxb. This way I can be lazy and not have to tab around. Plus it looks cool You really just need a 2nd monitor. The benefits are huge being able to have extra charts open on the 2nd monitor to monitor many stocks at the same time. Especially now with the insane volatility, so much to watch every day. Also helps to be able to have the chatroom I'm in open on the 2nd screen. Not as much benefit when adding more than 2 screen, only thing I can think of is maybe having a tablet and seperate keyboard dedicated for a chatroom use. Wow, what kinda setups do you look for with that? You mentioned the lifers and opening gaps? Sorry complete noob here, still in the paper trading stages. So far I've been trading on my 6"" Nokia..... Simplest answer? It's cool. It's an inner nerd thing. Wanted to get into trading, but I also do GIS a which use dual monitors a lot. So I decided on a 34” ultra wide. At least my productivity went up. One is for straight porn, obviously. Another one for gay porn. Another one is for the robinhood video game. Another one is TD, and then the last one is to zoom with my mom. It’s is imperative to screen share carefully More screens = Analysis Paralysis for me. I stick to two screens max and usually one or a phone. My best due diligence is done on my phone at the gym, not when I have a bunch of screens in my face. Highly agreed with the opening / closing one hour , and you really don’t need to trade the whole time ! Over trade is actually be the reason you lose money lol Totally agree. I’m fine with my laptop most of the time and phone apps are great nowadays. But, multi-screens are great. No one “needs” them. Just gives more space for more windows. For instance, I prefer my office dual screen setup when I want to do my analysis work in Excel. I will have spreadsheet open and options trends and pricing in another window and some historical charts of 3-5 key stocks. Much easier to see all together rather than jumping around. I have 6 30” screens at work that are hooked up to 3 computers and sometimes I wish I had more. I don’t use anything like that for trading, but I also don’t do much trading yet. I assume some folks have a lot of tabs and programs open where it’s just a lot more convenient (and to a degree, faster) to look up than it is to click around The cost of screens is so low, so why not? I have 4, I use one to watch the news, one has email/chat rooms and two for trading. LMAOOOO LOVE THIS POST. I don’t see a single fucking reason to have 4 monitors just to make max $80k a month. These people are half weebs only thing i remember from the late 90s and early 2000s is my mom blowing her trading account bcuz of Nortel mostly Two monitors for me. All depends on the trading style, and on what do you use to base your trading desitions on! Some people trade only charts and need no more than 2 monitor for them. Some people trade based on Level 2, and need to see a dozen levels to find moving orders. They use 2-4 monitors. Some people track multiple stock different parameters including indicators etc. 2-10 monitors easily. Some people trade multiple instruments and ned space for all the required info. Again 2+10 Some love to multitask and do other work or watch movies, or communicate or browse while they wait for their signals. Having an extra monitor for those is a lot more practical than lost opportunities for playing with the windows. And some people just want either the cool look and really only use 1/3 of one monitor out of 40 for actual trading. Or are micromanagers and control freaks that just need to have everything possible in front of them lol. I have one fair priced 27” monitor as well. Have been a single monitor trader (SMT) for a few years now. I used to have two, but one broke and I never replaced it. I found that during the summer months, the second monitor just added more heat to an already very warm room, which made me tire a little quicker. I use just one monitor now, with the occasional help of my iphone to monitor some chats. The multiple desktop feature on Mac OSX is what I use to maximize screen real estate - works great! Mine is a Simple DELL laptop with my Ipad. Would love to have that setup, but then I would have to learn how it all worked.lol I hear you, on the phone 📲 theres studies that show the average person can only retain 3 to 5 pieces of info anyway. I trade on my wife’s boyfriend iPad IMO, people put a lot of value in having easy and fast access to information to make decisions. That's the PRO. The CON is that some people over estimate their ability to be able to take in all that information. You're potentially increasing both the signal and the noise so it depends. It depends on what you're dong as you've proven to yourself you don't need them. I trade on my phone. So..yeah lmfao All the gear no idea in most cases I send messages to my broker through fallopian tubes I'm in the womb as I type this Buy stonks eat tendies First monitor to trade, second monitor for “LOFI music to lose money and trade stocks to” I would find myself interested in about 10-15 tickers on my morning gapper list but I only have 4 monitors right now. It would be nice to have 2 more to put more tickers on the screen so I could watch it setup throughout the day. I do tend to miss them because I have to replace existing charts with stuff popping up on scanner. In what way do you (and lifers) trade the opening gap? I'd like to learn more please I trade with my phone and and iPad. :) Best part of the post is reading all the old war stories from the 90s and 2000s. Old windows 7 laptop with 8gb ram i7 and IPhone XR I trade on my iPhone SE I think some folks just don’t like having to move windows around or worry where something is if they have a whole bunch of stuff open, plus monitors are so much cheaper these days than they used to be, especially if you aren’t trying to play some super high-res game and you just need to read charts. And you gotta have a dedicated monitor for playing Netflix while you trade obviously. I use 3 monitors at work and 2 when I work from home. At the office, one has my email, one has teams, and the middle has what ever I am working on. At my home office I split the left monitor with email and teams and what I am working on to the right. Not having to constantly switch between windows is the reason for multiple monitors. I guess for traders, being albe to see the trends for what ever stocks and bonds they are trading are essential. Same. I use one or two monitors depending if I’m at work in the office or working from home. I set my price alerts and execute trades as planned. Im currently trading on my compact mirror I tried to message you privately but Reddit doesn't seem to allow that these days. I was wondering where you get good data besides just watching the tickers during the day. I look at openinsider.com for recent inside purchases and whalewisdom.com to see what big guys are invested in but I'm always 1 step behind. I trade on a shit hp labtob that was made 3 years after I was born so.... just preference man, multiple screens let you look at multiple things without having to tab around. If you're only looking at 1 or 2 charts completely focused on price action in your brokerage platform you don't need much else. If you're looking at things in multiple applications (browser tabs, running scripts) then its a no brainer (and why most desk jobs use multiple monitors). Plenty of money to be made outside the opening / closing hours. I only use 2 monitors, i could use 1 monitor but it would be frustrating and less efficient. I could see myself having a 3rd one be useful sometimes. number of monitors would have almost 0 effect on my P&L though. Wow you’ve been trading for so long. What’s your strategy? I use six, it's not at all like I need them, but I do utilize them a LOT and get frustrated when I have to work from my laptop. You’ve missed out on at least 6x gains. Is it realistic to set a goal to trade enough to not have to work a day job? You could've been Warren Buffett, instead your u/civgarth I trade on my phone All I use is my phone, my tablet, and my 49"" Samsung G9. Totally minimal setup. Trade exclusively on my iPhone and am doing fine 🤷‍♂️ Most of my trading I do on my phone.... someday I hope to have six monitors though I use a 34 in and just screen split I actually took away one of my screens because it's distracting. Day trading requires sustained focus/concentration more than anything else I've done (i'm not young either). I've been using 2 27"" monitors for the last 2 years. I'm an options scalper and avg around 50 trades a day. The layouts on my screen cover everything I need and will never go back to 3 or more. Couldnt survive with just 1 tho. I'd have to wear 20x reading glasses... or binoculars to see everything 😂 I made $50k on my phone lol I have 2 x 32"", really just makes it easier to manage everything. Watch list, order book, level 2, charts, trading block all large and easier to see and navigate. I wouldn't want more than 2 monitors. 4 monitors just seems overwhelming and waste of efficiency. Maybe have 2 with just charts to watch different markets or something. 1 screen is fine, I just like 2. Feeling like Batman at work. Thanks for posting this, I’m just dabbling as a hobby and was feeling a little inferior using my single iPad screen. There are a handful of six, eight, twelve, monitor setups I've seen but the vast majority of financial professionals use two monitors, at least when I was doing research on this for a financial services company. There is a fair bit of academic research showing that some tasks are faster with more screen space. In this case, one example would be to display occasional information. If there's some benchmark or exchange rate you use occasionally it's faster and less cognitively demanding to place that information in your peripheral vision and rely on spatial recall to glance at it rather then think about what tab/window/bookmark/URL you need to use, open it, and then close it again. For one thing, that adds several seconds of clock time, which may be significant for certain kinds of traders. More importantly it has the potential to fall on the ""critical path"" which means you have to mentally suspend your current task, keep the state in memory, look up the new information, keep that state in memory, then resume the original task. If you can just glance at the information it's less likely to derail your train of thought. If your tasks have you going back and forth between tabs/windows then it can really add up. They're also not particularly expensive. Say your day trading earns you $40k/yr then a $400 monitor that makes you 1% more effective will pay for itself in a year. (Maybe a little more given electricity costs.) I appreciate this question. I'm beyond new to this world, and in addition to trying to figure out where to start my DD and what metrics to look at, I'm intimidated by these multi-screen set-ups and the controllers. They look badass and I've found myself shopping around for them, but I don't really know if it's necessary. Judging by op's post and comments, I'm guessing not? I trade on my phone and I turned 1k into 5.4k since September. I'm pretty sure picking the right stock is much more important than timing that same stock to the penny or whatever. I've been trading since the 90's. Never traded well with three monitors. Now I use a laptop work stand one USB monitor. The simpler, the better. I have one monitor. It’s just fine. My old boss had the 6-8 screen setup, plasma x, cooling tower x, special surge protector/ back up power x, special secret esoteric software x, invitation only broker account x. Only traded E Minis with it. Lost all his money because he didn’t want to evolve and work at studying patterns every day. Now is retired living with a roommate. Probably because, it looks impressive and cool! 😁 I just use my cell phone! Usually, I just write it on a piece of paper and hand it to the next person and say pass it down but, someone would always return with a McDonald's bag and say, ""Here's your order!"" 🍔🍟 😦 I've just been using my phone and laptop. I don't really understand the need, either. I think this comes from a generation of people who were in front of screens majority of their time. 1. Wake up and pick up a phone (screen time) 2. Go to work (majority the sectors deal with monitors) - (screen time) 3. Come home and play video game or watch TV 4. Go to Frnd’s house (you watch TV or play games) ....etc All this and monitor prices have gone down like crazy - this combined with trading setup people show case pulls people + the cool factor - just my opinion. I think it gets boring after a while. I use a series a clicks and whistles for options and guttural grunts and moans for OTC and PennyStocks pics or gtfo It’s sooo funny you posted this, because just like two hours ago I was talking to my husband about all the posts with the monitors and CPs and how expensive it looks just to get into day trading. May I ask what your trading strategy or patterns are? Its about how you use the tools. Others just for display to look cool. I trade on my etch a sketch. I have two, I wish I had 3. I'm a stock day trader My main screen is the stock in question with a large graph, level 2, volume, news. Larger area helps me digest the information. Second screen is the same stock on multiple time frames. 1 day 5 minute, 5 day time frame, 30 day, and 180 day. All these time frames help digest the over all picture. Over direction on the 180, 30 day how it's been trending last month, 5 day how it's going last week, and 5 minute chart for calming my thoughts when I'm staring at the 1 minute on the main screen. I want a third screen to monitor my stocks of interest as the day progresses because sometimes opportunities accelerate faster than I assumed they would. I look in the premarket for 4 stocks that fit my overall trading philosophy, and is the right opportunity unfolds, I enter a high probability trade. Been working great for my trading career but I know I've missed good opportunities focusing on one where as if I had the third monitor to look at from the corner of my eye, I would have switched gears. So how do you watch your stocks for opportunities? Or do you just have one stock you focus on in the day? What I like to do is have a few stocks in smaller windows on my screens and trade the ones I see are doing best. I am always on the go at work so I trade on my Samsung Galaxy phone with trading view app to check charts, simply wall st for rapid company dd and stock twits/webull for news/comments haha. I've made it work with 500% gains in the last 3 months while combating covid at work (doctor) I trade on my phone You missed out on 6x the gains Some people day trade almost solely on TA and are visual people... if you showed them just numbers they wouldn’t understand what they were looking at (unless it’s on a “visual” which some companies provide) I'll bite. I have 3 monitors, but I also actively doing something else while looking at charts. Sometimes homework, sometimes online gaming. That's the only thing I can think of. mid 40's checking in - ​ > I was also a professional ***derivatives*** trader. So you're the guy responsible for '08! I'd like my ESOP value back, thanks! I dont understand having so many monitors personally, I like to keep my laptop opened up watching a few charts and execute trades on my Samsung note 🤷‍♂️ I died from laughter! Killing me. I see most of that as toys. I use my desktop (two monitors) for my bs version of research/watching the most important stocks I have and my phone for trading. Then again I trade off of monitoring social excitement across as many platforms as I can and searching for DD on those to see if the window is still open for me to get in for a little cheddar. Having said this, wise one, am I stupid? Dude, do what works for you. I use my cell now solely. Everytime I change my pattern, I lose out. Ipad and laptop doesn't seem to help just distract. Looking cool? I trade on my Speak & Spell The only things you’re missing out on is comfort, convenience, and getting man-puss. The only one on that list that matters to me is comfort. At the end of the day, the new young-bucks that think they are badass with their array of monitors probably feel small and humbled when a seasoned vet such as yourself out-trades them on a tattered, smaller monitor. My phone only has one screen I trade with my banana 🍌 hammock Honestly, you have old school Knowledge of how things were done. You can have all the screens you want but it ain't gonna streamline you faster if you don't apply it the right way, maybe have different people on those computers, you orchestrating every click and decision that's taken, an extension of you and your prior wisdom. I trade rocks I never understood why people do this, hahaha. I have two screens, 1 for the stonks 1 for the memes... Karma for pics of your sweet rig I think the answers may vary. A lot of the ones with big set ups also have other interests. Gaming or perhaps they are streamers...multiple reasons as to why...maybe they like the better resolutions etc. How do we know if the additional screens don’t generate additional income? There are so many outlets of information now days compared to 10+ years ago, not everyone has access to a Bloomberg terminal. I trade with a TI 85 calculator I don't even have a monitor. I trade on my phone. What kind of trading do you do? Price action? Technical? Descriptive? Fundamental? Sometimes it is cheaper to buy 2 smaller used monitors The flex I thought people did it just to look more important and cooler. Thanks. I've only been day trading during this bull run but it's good to know I'm not missing out on anything by not having 15 monitors set up following a specific stock on each one lol. *3 days later the market crashes and I miss it because I was busy watching cat videos on reddit* I trade on my iPad and phone lol. Webull for order flow and scanners. TD for the trades🤷🏽‍♂️ I traid on my ps-vita I trade on my penis I trade with a Teddy Ruxpin with a radio antenna wrapped in foil on it's head. You good. Fantastic bro! I'd say it's just people flexing but I'm just a pleb who trades on my phone Im barely learning and I can see my VR headset being of use. lol I have 25k to start day trading. After maybe 20 hours of videos and information I made a demo account. I made profit in 18 out of 20 trades. from a 10k account to 15k. I need guidance. It isn't a lack of information, on the contrary it's too much information out there. thanks I trade on my tamagachi. I trade junkies rocks for paper 4.5 in iphone screen Don't have 6, but my response would be ""I don't like to use Alt+Tab too often"". Equipment dirt cheap today. So why not? Use any setup you feel comfortable with. Lol I trade on my OnePlus Nord and I have been a pretty successful day trader and I honestly believe that I don't need so many screens because a large number of screens will make me more confused and would likely lead me to take wrong trades so, I just keep it simple, set alerts for my levels on Trading view and if the direction is in my favour, I take the trade, if it isn't I let it pass. I prefer 2 monitors purely because I like my scans separate from my charts. If you truly ""need"" more than 2 monitors, you're not focused on the right things to succeed in trading, lol. When I travel I use the phone for my scanner and charts on the laptop..... but even that isn't necessary.... just a comfort thing. Can't imagine having just one screen. 2 is ideal, 3 is unnecessary. For me it's because I use TOS for charting and other brokers for execution. Also I like to have multiple charts pulled up to see overall sentiment and its also fun to have news on another screen. Yeah it can be done all on one with smaller windows I guess... But it's just easier I was trading on a cheap tablet for a year, and I had my best results in five years of trading. I use two monitors 2x32"". I use one for reading, research, which is full of open tabs to different reports and financial information. The other I use for charts, opening new links, videos or discord. I find it quicker to get through information, and it's easier to organize information over 2 screens when cross-referencing. I've tried using one screen, and it becomes a mess quick. I'll end up with 20 tabs, switching around looking for whatever I needed (which costs me time). With the other screen I can move things to one or the other depending on what I'm doing. Double screens are more efficient for the way I do things. Sometimes I use just one screen if I'm not doing much, but I'll put youtube on the other screen, so it's not dead silent here. 2 screens just works for me. What do you look at on your one monitor? Do you have Bloomberg up? What execution platform do you use and is that up too? Why do you feel old when you’re in your 40’s ? There are unlimited ways to make money in the markets. That means many styles of trading. I have 3 monitors: Primary one is for 1 chart and order windows and positions tab. The second one I use a scalper / LVL 2. The third one I have more charts to look at how a sector is doing / correlation stocks. Depending on the stock. Each 🚀 requires one monitor. Using 2 monitors which I consider the bare minimum. Main for trading platform and stock 'm focusing on. Secondary for my scanner and other stocks to track. For me 2 more monitors would be ideal, for my trading log, calculators and more elaborate company info to quickly check for news. Alt-Tabbing is annoying during trading. I’m not a pro trader, but I just switched to 3 screens and it helps with almost everything I do on the computer. It’s just more real estate, less fumbling through tabs, makes the experience simpler. I usually only use 2. It’s a positive, I don’t see more than 3 being that helpful though I have multiple screens, but only 2 for trading, week maybe 3 of you county ny phone. I just like to be able to glance at certain charts without having to alt tab etc I work in a large investment banking (country with no Volcker rule) and all traders have three monitors (some 4, but smallers) and with Outlook open in one of them most of the time. It may make sense for brokers, but I don't get either why having Times Square style setups. Well I’ve been trying to learn since the 90s why don’t you teach me some skills LOL Watching porn while looking at charts You are kind of like me. I trade on a cheap (bought for less than $350 new) laptop. I think it's a celeron? I have a second screen but I have two eyes and they can only look at one screen at a time. I cannot multitask. My ""brains"" are not the screen but the algos I tweak. As long as the laptop can compile and run them and handle the computation necessary, I'm all set. I don't think we miss anything by not having 6 screens. If I did, I'd probably keep my email open on it. LOL News for me, research, risk management & setups ( charts across multiple time frames). The trading aspect, you are right, I only use one monitor. My background is in fixed income & every trading desk that I was on the min was 4 monitors and a average of 6. Majority of the desk managers have been trading as long as you & they always used every monitor. I like having a second screen so I can be doing something else while day trading. Other than that I do everything on one screen. Unless I am going for a more complicated trade where I need to do some market research. Even then it's just a bonus not a necessity. Only time I feel like an extra screen will be nice, is once my portfolio gets over a certain ammount and I have the margin to be entering multiple trades at once. having 10 monitors is like having a big house , and having one pc is like having a normal house. you don’t sleep better or feel more comfortable in a gigantic house, but it makes you look cool I have use 6 screens total and I’ll give you my perspective. I am the most ADHD person on planet earth I believe, always been that way since a young child. More recently in my adult life I’ve put this attribute to good use (sales job, highly active cyclist, whatever). Well one of the things my brain LOVES is just my entire fucking life on the screens all at one time. Especially when I’m trading and working at the same time. So, one screen has open all of my communications, discord, Xbox chat, slack, MS teams, my personal notes. One screen is my main driver with web pages, trade executions occurring here, main screen basically. Another screen has open 6 charts, 4 primary stock market indices and 2 for crypto currency. 2 other 22” screens link to a work laptop that is solely for emails and viewing PDFs and other contract documents. And finally the last screen is my focus analysis charting screen for my focused trades or just another focused watch. This all being said, I hate having tabs closed. I like it all open at one time right there in front of me, my trading, work, life stuff, 3D printer build, solidworks files. WHATEVER. My ADHD brain absolutely thrives off of this chaos and I wouldn’t have it any other way. It makes me happy. Nothing. Wow. Im successful on a monthly basis. I just use my phone😊 Has anyone ever used TrustFinance? I like money!!! Only 2 monitors needed to be profitable. Going to tell my dad this who has 3 computers and 9 monitors and is waiting for another computer with 3 more monitors and is actively missing/losing trades every day I love this and it reassures my tendency for the path of least resistance 1 monitor for trading, the other 5 for porn I trade on my game boy I trade on my Samsung Smart Fridge I trade at the banana exchange down at the local zoo Samsung smart fridge traders rise up ✊ I trade on my Tamagotchi. In fact, it's a better trader than me...if I remember to feed it. I just fax The NASDAQ after I circle tickers in the newspaper I trade by calling my friends Randolph and Mortimer on the floor of the commodities exchange. I trade via telegraph, then I jump in my DeLorean with my wife's boyfriend and we go feed bananas to the gorillas at the zoo in the year 2069. I trade strictly by voice commands through my Amazon echo, screens are for suckers. I trade off the reflection of my neighbour's boy's tamagochi reflection in my window lol. I trade on my Cyberdyne Systems Model 101 I'm ballin so hard with a 15"". Would like a second monitor tho..... I trade with snails I trade on my phone lol I trade on my Atari 2600 Samsung smart fridge here I trade on my iPhone. Same. The three-finger swipe for diff desktops is the 🍓 Same. It’s great but Active Trader Pro is super chuggish. Same, until I made my first bag last week. Was trading on a late 2008 MacBook aluminum 13”. Just bought a 2015 MacBook Pro for 1100 CAD. I trade on my WebTV Same I trade on my phone I trade on a Nintendo gameboy I trade options on my iphone 6 LOL 13 inches.. not supposed to measure from your butthole I trade on my old word processor Lols my dude. I just checked. I'm also a 32"" and it's not even an HP. I'm that clueless. Again, I'm not trying to be a jerk. I see battlestations posted frequently and I just had to ask. I guess if you're on the f/x desk or trading something you can arbitrage by the second it makes sense. I was in diapers in 95. We out here! 32 inches is 81.28 cm so i have a question for you and /u/civgarth ...most of the pros that have been in it for a long time that i've read say they mainly work 1 hour pre-market, up to an hour after market opens and sometimes at power hour (like civgarth mention in his op). What do you guys look for or do to try to take advantage at market open/gapping hour? Do you play a dip before market open or do you wait for opening dip and ride it back up? How do you decipher which stocks will do what? Haha trading and gaming same time...you brave soul Same here, usually in borderless window mode so I can quickly adjust my trailing stop loss / take profit. Any recommendation for a scanner(s) for a beginner? I’m looking for a screener to help me with the following: Option trading that tells me in the next 3 weeks, anything within a strike price of like $10-30 that has a volatility of 30-50% with no nearby earnings dates, last trade happened within a couple days. Any help would be greatly appreciated. Also prefer free for right now if that’s a possibility Hey, to be honest, to each there own. I’m a preference guy. If your preference is 10 monitors and you’re successful, than you do you. If you like your one screen, your phone, and maybe a tablet and you’re successful...you do you. Everyone has a preference for their success. Exactly. It's called multi tasking guys. One for trading view one for trading platform. One for chat and one for videos or whatever. what chat are you in what chat room? I see we are both from the same sub that cannot be named. Ur an alpha male sir This is the way Don't get me wrong. I'm not criticizing. I'm just not getting what information is being looked it. If it a comfort thing, by all means. I trade 3 different companies. That's it. A few bucks a day on a couple of thousand shares is what folks I know do and have done for decades. We're still MM at heart even though we're not employed to do it. You don't need that many monitors to know the general patterns of a something you've been trading for a decade. Folks who do well trade as few stocks as simply as possible with as little noise as possible. At 3pm to 4pm, I decide to go long or short or decide on an options setup. 9/10 it's a straight forward call or put that I close the next day by 10:30. Then I go do something else. This is supposed to be boring. Lols. I guess I'm a dinosaur. Shout-out to the 200-tabs-open-in-my-phone-browser gang 1/3 of my trades are made on the can after my morning coffee nowadays. I'm up over a million dollars over the past two years with my 4 year old phone. I wonder how all these kids on tiktok with 8 screens are doing. The sad part is I work in IT with a $20k homelab with 6 monitors. I just don't use it for trading because I find it hugely inconvenient. I think there was a study that demonstrated that a lot of price movements after hours. The internet has definitely magnified those moves. You can definitely do well just trading those gaps at the open, up or down. Haha all you need is 2 to do well with trading really! Good luck I use two monitors and my phone. Got a gaming computer just to feel legit though. How much difference it makes, I don’t know. Just saw a lot of day traders with battle stations and wanted one too😆. Underrated comment I was waiting for someone else to mention this! Idk if I could handle that 6 monitor setup I saw last night. Yeah it looks cool, but my iPhone or iPad Pro does just fine. My ADD would be all over the place and I would go into analysis paralysis all fucking day! Wilson? [deleted] I laughed way too hard at this thank you ! Wait, what? How is TOS slick on iPad? You can’t even view multiple charts. I’ll agree touchscreen is almost as handy as hot keys, and a lot more intuitive. Dang dude nice! What are you strategies if you don't mind me asking Enough not to work for the next ten years. Not enough to not work for eleven. How do you like accounting? Does it help at all with trading? Just wondering as I’m a business student in college and I’m considering accounting as opposed to finance *What are you missing* *Out on? A E S T H* *E T I C S* \- too\_lazy\_2\_punctuate --- ^(I detect haikus. And sometimes, successfully.) ^[Learn more about me.](https://www.reddit.com/r/haikusbot/) ^(Opt out of replies: ""haikusbot opt out"" | Delete my comment: ""haikusbot delete"") Recently it's been AI, SPCE and XSD. If you really want to get granular, you can very comfortably trade AMD or TSM. I love the semis because even if I'm wrong, it's completely ok to be stuck in a position in the sector for a little bit. Marvell, Micron and QCOM are also good to look at. A few bucks move a day is absolutely the sweet spot. But I've had a great time trading XSD the most. The big guys are desperately looking to increase capabilities. Any of the the smaller guys can be the next Xilinx. I know a lot of folks will call these boomer stocks but I shrug. Crypto, AI, Robotics, Genomics, IoT, phones, missiles, cars, you name em... Chips in every single thing for the foreseeable future and we're in a global shortage. Ive done a million things wrong but the one thing I did right was trade and hold the sector. I also hold a lot of Ark funds which for ETFs are volatile enough to cycle and safe enough to hold. The only meme positions I currently hold are NIO, PLTR and BNGO. Honestly I have no idea what their futures hold but I bot these during the BG era (Before GME) on WSB a few months back and am sitting in profit so I just let them ride. I bought 5 Zunes for multiple monitors. Haha so funny How can one not be profitable when stocks just go up due to fed policies? I’d guess more than half are, but whenever the bear market returns you’ll be correct. I loved 3 but hated all the space stuff in 2. All the power to you. I find excess stimulation to work against me. You seem equating monitors with knowledge. I think you meant extra monitors are convenient. *Seeing as no one* *Else has asked, do you have time* *To be my mentor?* \- juanjo47 --- ^(I detect haikus. And sometimes, successfully.) ^[Learn more about me.](https://www.reddit.com/r/haikusbot/) ^(Opt out of replies: ""haikusbot opt out"" | Delete my comment: ""haikusbot delete"") Correct. Not satire. If you see battlestation posts, it's 6 screens of charts. Perhaps I've been doing wrong all along? Yeah. It's sounds like that. Wasn't the intention though. I wasn't able to edit title. Lol. Ok. > unless you are a computer illiterate who doesn't want to learn how to use a mouse and keyboard efficiently. I use a single monitor way more efficiently than I would multiple monitors. With a keypress you can pull up charts, the brokers, your trading log, whatever else, without needing to rotate your neck at all. Nothing wrong with using multiple monitors, but to say *that's* efficient use of the keyboard and mouse is silly. I'm still using the crappy little desk I had 20 years ago :) I actually run two monitors but most of the time, the other one is just some YouTube video about a video game. This I can see. But I'm not sure about the folks at home though. How much do you made monthly or annually as pro trader? TT ladders? Can you write me for the abbreviation challenged? I'm not an expert so here are some thoughts from a rando. - you don't need to trade everyday. I think there are studies that show the more you trade, the more you lose. -daily/spot trades for fomo trades on meme stocks. For fun so I alleviate the fomo. These would be my windfall positions if I do them correctly. -swing/position for stuff you know well and don't mind sitting on so you catch both the up and down trends. I usually swing trade half my long term positions while letting the other half ride untouched with covered calls. Currently it's semis because at the moment, I can't find any other segment for the same risk profile that consistently returns. Key is to get a decent critical size account. $1 average daily move on several thousand shares total is a very comfortable living. Most people don't lose money on the initial position. They lose money after they add to a winning position they didn't take profits on. My goodness, how is 30% in an afternoon not good money anymore?! Re: correction. Not a clue my dude. Yep. Ive always liked semis The same here. I see people with huge setups, and I'm an ""old guy."" I recently needed either a new laptop or a new I pad. So I ended up getting an iPhone 12max and screen is big enough and E*TRADE mobile is so good. I do have a new laptop and monitor which I do use to set up a lot of orders and I can trade off the chart but I love using just my phone. swing is different, this is daytrading sub I trade the same 3 stock for months. The same 3 tickers. I don't even look at other stuff. This may seem silly but a few dollars a day on several thousand shares per stock is a very comfortable living. As most have mentioned, all you really need at this point is your phone. I do mostly semis but AI has been great the last few months. Low volume with predictable swings Most importantly, it's a not ever likely going to be a meme stock. What type of doc? My wife's also a doc. I'm all for more participants and the market as a whole is smarter than any one person. I'm sure there are a ton of kids out there who do better than me. Price and volume ie. Sentiment trading. I also look at unusual options activity to get some sort of confirmation. Nothing is certain that's why I don't try to min/max anything. Literally just my phone. Truth be told, my teenage kid is probably more mature than me. 45 might not be old in a temporal sense nowadays but the sheer exposure and processing of information younger folks are capable of in comparison to my marked mental decline makes me feel like I'm 80. It's like they're playing ranked Apex Legends and I can only play turn-based games. Also I put on 5 pounds during the pandemic as the gyms are closed. Buy SPY and never sell. He just needs one more monitor then you’ll see who’s laughing Yeah see... This is why I asked the question to begin with. There has got to be a point of diminishing returns. Sorry but I laughed from the heart like i haven't in ages. Is impossible for me to imagine your father's set up. This is how you drive yourself insane Am... am I your dad ? I trade on my Ti-84 and play doom, at the same time LEGEND! I trade by asking my cat for advice I trade on my Nokia 3310 Underrated comment lmaoooo 👏👏 Suck it, Jin Yang. Ditto but porn hun fridge “Hey Alexa - buy Mar19 TSLA Calls” There's always money in the banana exchange. I use a banana for scale, when trading. I think my mates Valentine and Winthorp beat your mates What are future bananas like? Hahahahaha omg It can't be bargained with. It can't be reasoned with. It doesn't feel pity, or remorse, or fear. And it absolutely will not stop, ever. My friend we are old school we don't even care, we make trades and profit on most of them.... outside of wsb we don't care as much...on here people are asking me what I make a day, a week, a month, a year in average, how much I put in each trade.....I'm old school I just make profitable trades and it adds up...I don't need each detail ,26 years of this.... I think its just generational. People get use to the multi monitor setup, I've had a single monitor throughout my life, and the occasion when I hook up a second monitor I honestly don't know what to do with it the majority of the time lol. If you want to explain your strategy would be nice. I like the simplistic approach. I only have a 27” monitor but it’s 144 hz so my graphs get redrawn at more than twice the speed! As a new trader, can I ask what your must-have screens/charts/indicators are for your setup? Does size matter? A lot of us are younger and trading for less years therefor having the information available at a glance with multiple screens helps. Whereas most the information is probably in your head. Just an assumption. I think it just boils down to feeding your ego. The more screens you have the more important you look to people that dont know what you are doing. 1 screen with a grid of maybe $DXY and different index futures+ bond yields. 1 for trade confirmation/ active positions. 1 screen for news and maybe Bloomberg. Sometimes people will use another one to monitor tape or watch live orders while tracking ask/bid to try and analyze trades as “buys” or “sells” I use 2 screens but I can see why people use 4-5 if they’re extremely active in short term/ day trading Hey I was just 15!! I started with 2000 in the year 1995. Each trade was 50 dollars and over the phone. true story But this isn't some get rich quick scheme. In March of 2000 when the nasdaq crashed I was down 70 percent of everything...I was sad upset and was just thru the dot com bubble...hard lessons learned...but it's what we learn from our mistakes I'm not sure about my friend but i actually work full time. So for me I'll focus to the first 5 minutes 9:30 to 9:35 and last 5 minutes 3:55 to 4... But I'll keep an eye out the entire day..but I won't be glued to it unless I'm about to make a play.. by 8am I'll have about 3-5 stocks I'll focus on.. I have like 5 main watch lists for a total of 750 so stocks I actually monitor daily, so I'll pick them from there. I don't take off for the day but those 10 minutes are crucial...I do after hours but not to often. I've only been able to post for 2 weeks, so since I started I've posted a daily play every morning around 8am...and you can check the track record...I'm actually 10 for 10...though this week I will allow readers to vote what I am going to do, because Friday on 1 of the forums I really got a whiplash if you read the comments and I lost maybe 50 points.. Good luck I look for the premarket gap up or down on the positions I entered the previous afternoon at 3. I aim to sell half the position during the first few minutes on target stops and let the other half run a bit with trailing stops. Opposite if I'm buying. Sometimes it's a fake out so I have to make a decision if I'm staying or if I'm going. I have no idea what my actual win/loss rate is after all these trades. I feel like it's slightly better than 60% but I have no proof. I only track new dollars per day as my KPI. Despite all the YouTube gurus, most of it is intuition, guessing and protecting the downside, esp when you're opening a position. TA just helps you get to a decision faster but it's not necessary the right decision. Also, those YouTube videos are aren't half bad. Sign of the times when a young dude without a CFA can present a bull thesis as well as some old dude in a dealer roadshow. This is a good thing for everyone. I like to distract myself with something else while trading as well, usually games. The distraction keeps me from overthinking things and making bad decisions. It’s easier to stick to a plan when I’m not constantly trying to rationalize my way out of it. The key is to choose games that can be walked away from on a moment’s notice and that don’t require so much concentration that you can’t keep an eye on another screen. Lol I mean, really once a setup exists for me it’s SL or TP Unusual Whales 🐋 Wall sraaAARGH. \*dead\* Nah wife's bf is alpha That sounds pretty great to me. I’m actually older than you but only recently started trading. For me it’s mostly Reddit stocks I’m trying to time in and out and watching them for signs of momentum switches. Some are longer term holds but mostly they are stocks with hype and dramatic moves. I haven’t started options trading yet. Still learning. I’m up or 30% since I started in October. I’m still at that stage where I’m not sure what all to pay attention to so I’m probably taking in more info than I need. Thanks for the reply! Yes I only trade companys with fundamentals and I target 3-5 Every day since I've been able to post...I actually share a play of the day with anyone and for free! You can read my posts and check the track record Just wanted to say this has been one of the most helpful comments I’ve seen, as dramatic as that sounds. You don’t see a lot of people recommending looking at only a few stocks for an extended period of time You said patterns so I take it your doing this based off TA? I enjoy trading but my current way of going about it requires way too much daily involvement to do it as a side hustle. This sounds like a fantastic way to go that would suit my personality far more than what I am currently doing... To your question I'm not much of a day trader, but I have a ""battlestation"" from.before ever looking at trading. You see this same thing in programming and other high tech fields. I think it is a bit of a generational thing... Older programmers rarely use more than one monitor and if you give them two, the second becomes a catchall or they never use it. Younger programmers who have grown up using them find them indispensable... I can't imagine doing my day job without at least 2 monitors... I'm sure trading styles has a ton to do with it as well... Edit: found answers to my questions in comments Well you kind of answered your own question, you say you only trade 3 tickers. Many people are watching a basket with 2 dozen+. Does 3-4 monitors really sound that crazy to keep on eye on your daily watchlist and have a monitor for execution without having to click around on different windows? I like your approach on things. I'm a bit like you actually. Wich companies are you watching? I have 3 monitors and only 2 plus my phone when traveling, my 24 inch at home is just nice to have but I don't need it. I mean, if you're profitable and have 10 screens, COOL. But I don't really need more and I tend to trade the same stocks over and over. And my system works for me, I'm profitable. This is the answer to everything in trading. Does it work for you? Are you profitable? Lol. That's all. I needed to read this. I recently started trading only 1 stock and have been getting serious fomo. Good to know the pros don’t trade a lot of different stocks lol [deleted] How do/ did you select which 3 companies you wanted to be trading in? Have these changed over the years or have you been trading in the same 3 companies for a decade plus? I love your strategy and really appreciate your posts / insights into things. I needed to hear a lot of that. Out of curiosity, what are the 3 companies? I trade futures, and only ES, never liked picking stocks Only have been swing trading (buy/sell) for almost 2 years. How important are options to daytrading and or profit making in general. I don't yet know the meaning of options/call/put. I don't yet have 25k (currently 16k portfolio) so still limited to 3-in-5 pdt rule. An extra $500 a month even would be life changing so I don't mind slow simple boring repetitive etc. Thanks for any reply. when you run out of tabs, then you know you have to add the next latest browser Wondering about the monitors too. Like how much more does a trader with 6 screens make vs one with 1-2. I would get so confused 🤷 of what I am looking at it. I suppose if you have 10 charts to look at and if they all line up it is a buy then sure might be good. But I'll need to those 2 monitors to watch ummmm oh NVM 🤣 Yep, when I analyze it's one chart, full screen, or else I won't get anything done haha. Spoilers are for down force, more monitors provide up force for the chart Well, sure, it’s small compared to a large monitor system. I think it’s slick because the app design works exceptionally well given the small screen. I find the mini-charts on the right side useful for monitoring multiple positions. I wouldn’t use it all the time, it doesn’t have all the features of the desktop ToS. No scanners, for example, and none of the complex technical features, but I don’t use those. I’m not at all keen on the idea of being surrounded by a wall of monitors, so for what I do and my needs I think it’s impressive. Very fair answer. I hope I can get to that point, but I'm greedy. Congrats to u. 🍻 I always enjoyed Math so Accounting was a natural fit for me. In regards to Accounting vs. Finance, and which one helps with trading I don’t think there’s a straight forward answer to that. To be honest I think both will help you tremendously when it comes to trading and making sounder financial decisions—what it ultimately boils down to is what your preferences are. For example, it’s my opinion that accounting is more based on a standardized set of rules (e.g. GAAP, IFRS, etc.), and you need to apply those sets of rules correctly to real life situations—plenty of analysis involved as well—but that’s the underlying idea. Whereas with Finance there’s a little more emphasis on analyzing trends and financial data, and less emphasis on applying a set of accounting standards/principles. Maybe others feel differently, but again just my opinion. Now, no matter which route you commit to studying I wouldn’t worry to much if you dislike it b/c in the real world there are people who’ll start off in Accounting roles, but they’ll end up switching to Finance roles and vice versa. You’ll also find that in a lot of companies the types of responsibilities assigned to Accounting and Finance people tend to overlap and be relatively similar depending on the position. So yeah not sure if that helps or not lol, but in short either one isn’t a bad decision. Thanks! Yeah. I gotta agree with this guy. I've done exceptionally well last year not because of ability. I was able to be more aggressive because the timeframes are so compressed. This can't last forever. The last two corrections took a decade to recover. Hopefully I'm wrong and this is the new normal. Yeah— 2 was........unfortunate. You asked why we have so many monitors... WOuldn't clicking between chart to chart to streaming prices to different window all on ONE SCREEN be excess stimulation vs sitting back just watching it all in front of you? The question is why we think extra monitors are helpful so don’t presume to know what works for me. I can't take you seriously sorry. Oh yeah--it's 100% for professional market makers and would have very little utility for guys at home. Ironically it got to a point I wouldn't even look at the screens but just move (muscle memory) to lift/offer prices. I was a market-maker which isn't really something you can do retail/ at home, but overall most professional traders are paid a base (low to mid six figures) plus a bonus (based on some % of PnL generated) Ah my apologies--TT is (Trading Technologies) which providers ladders (market bid/ask/volume/depth) for most futures. [https://www.tradingtechnologies.com/blog/2014/09/19/trading-technologies-supports-yield/](https://www.tradingtechnologies.com/blog/2014/09/19/trading-technologies-supports-yield/) Uses same equipments, only difference is the trading strategy. So to me it seems you like to trade support and resistance with low volume? I used to trade like that. I'd trade with support and resistance and try to buy at support and sell at or close to resistance. Now my mentor and I like to trade high volume, most of the time on the news (unintentionally).. we just look for high volume stocks because they move alot. We make one or two trades and call it quits for the day, but we use a different system. Hospitalist That response made me all warm and fuzzy inside. :p Humble guy. Yeah, there will always be people of all ages and experience levels that will be better than the last or next. Take Care amigo You can never hide volume. Interesting. Thanks for the response. Haha! Oh man, I would gladly be wrong. It’s a shame watching his trading psychology trick him into missing or as soon as something goes back pulls out only for a trade to run. Wish I could get through to him, but if those extra monitors help I’ll eat my words! I agree entirely. I work from my laptop and phone and have turned a $500 account into a 3k account in a month. Doing something similar to what you said, first hour and last hour. But my dad, with his infinite monitors, sits there watching the minute charts all day long. Pretty sad Can you link me with some learning materials or your strategy? 5% of traders actually last so I like to let’s ask Been trying to find a polite way of telling him this. Hasn’t worked thus far, gonna have to resort to blunt, brutal honesty soon [deleted] I trade from my Casio CA23W calculator watch! I trade on my HP-48sx when I am not playing Joust on it. If by trading you mean drugwars, then yes. That’s cool I can type boobs on the TI-84 80085 This comment done got me 💀 I read this out load and my Alexa responded “showing results for 19 testicles” “Fucking legend” I must be doing something wrong, all I get is more bananas 🤷‍♂️🍌🍌🍌 Banana good. Yeah but they're back in the game after receiving a sizeable charitable donation from the Prince of Zamunda. Taste like chicken, shaped like cock Nice. I was licensed in 95 and done by 2002. Nortel broke me. We obviously can't front run retail. By the time it was done, I was curled up in a ball and crying on the floor. I was only in my early 20s then. And I only had to use two monitors to lose a shit ton of money for my myself and the bank 😃😃😃😃 I think there were CRTs. Edit: I think I messed the dates up. I think I was industry 99 to 04. Either way, I was one of the posers who thought I was big time in the early days of the internet. We knew jack and the results were evident. Level 2 absolutely...for me.. it's everything then I use a chart that has macd candles and rsi...it's to try and buy dips and sell ...entry and exit I recall using a rotary phone at the end of each day to check closing prices on dozens of symbols using two numbers for each letter in the symbol. Damn I love technology and just can't get enough of it. i was like 5, and i still didn't bought my first stock, and i feel old. Whats wrong with time in this world, jesus. As a computer science major... It is awesome to hear about the ""before"" time. I feel like it was alot less stress full with a ticker in your face. [deleted] Thanks man. I appreciate you taking the time to reply and for your insight! Agreed. And I've been trying different things recently and for the most part, playing bounce swing plays seems to work for me. But I know I can improve and know there's so much more out there to learn so I'm always trying to get more info. If you're able to get money off of everything you're doing, then you're winning.. That's the main thing that matters. Thanks for the info! I play vr while trading So much this. I trade daily. On days like last week, it sucks, you can't commit to anything for long periods, and you need be able to pivot back into trading on a moments notice. Sitting on your hands is the real challenge. I hate relaxing when im working so its hard for me to game when I should be working. Even though, ironically, part of the reason I got into trading was so I could have that extra time, but learning about value and productivity, has made me dislike taking time off or relaxing when I could be doing x or y. SL? TP? Can you say more for the abbreviation challenged? How long have you been using it and your experience with it? Castle of camarrrrggh Hey man. It's the greatest job in the world and you can do amazing if you remember one thing: you cannot control anything except how much you are willing to lose. Your success in this is far more dependent on when you sell rather than when you buy. Anybody can buy anything. Knowing when to sell, whether at loss or in profit is important. Use stops and if you get stopped out, don't rush back in. You won't get it right all the time. If you're older than me, you're probably in your 50s and have way more wisdom than I do. Hope I didn't offend. Also don't buy into that diamondhands crap. Do not day trade Reddit stocks. You will get absolutely crushed. Vengeful hedges targeting absolutely every Reddit stock using very modern technology, just to face rip them out of spite over GME. I'm almost entirely in semiconductors for my actively traded stuff. Intel, AMD and NVDA and QCOM for the most part. Spot trades for other stuff based on news and sentiment. Just pick a segment and know it well to make a living. You don't need to make all the money. You just need to make some money. AI, SPCE and XSD hey man - thanks for the kind words. The 3 or so regulars have changed over the years but have largely remained in semiconductors for me. How I chose was I asked myself, ""If I'm wrong on the next trade, am I ok with it sitting a week/month/year?"" Semiconductors made the most sense in the 2000s. I'm not smart enough to know what's next so I couldn't tell you where I'll be next. But seeing that there's a chip in literally ever single product on the planet, I'll probably stay in semis. The main reason people rush to sell is because 1. they want to lock in profits and buy back cheaper or 2. they think if it drops, it's going to drop forever. If you base your decision on #1, you won't likely panic if the market turns for a few days or weeks. In fact, you welcome such corrections. If you buy a stock that was shaky to begin with, #2 will drive your decision making and that's generally bad. Now I just trade the semi ETFS. There are so many opportunities as well as corresponding risks that it's difficult to pick the right horse. I just buy the sector. I trade half my positions, buying when it drops more than 10% and selling when it rises more than 10%. apparently disclaimers are necessary now lols. just shooting the shit, not an advisor. If you don't have a lot of capital, options are a quick way to grow your account fast or lose it all fast. You need to be right about direction and size of move within a specific time. I wouldn't use options unless you understand the math. There are a lot of resources online. In your case, if you have enough underlying stock, you can write a covered call against them for some premium but you'd be locked out of selling your stock until expiry unless you close out the position.... Or unless your brokerage allows naked writes. (This will make sense of you read some stuff about calls and puts) So to answer your question... It's not super important if you have a long term account growth plan. Options are used as hedges and enhancers. For short term explosive wins, short term options are great. But like all gambles, it can go horribly wrong as well. I am the dumbest guy I know. I wouldn't know what to do with all the extra information. Ya got issues foreal. The other guy plays games and trades!! You can do it...just don't get everything to sticky Lols. I deleted my comment because it was pretty dickish. You can make a decade's gain in one year but you can also lose a decade's gain in one month. Most the time I was doing this it was long periods of nothing punctuated with brief periods of joy or agony. Just remember to take a portion of your gains right off the table into something with lower risk every so often. Despite what people say, it's not gambling. It's risk management Buying weeklies is gambling. Thanks man. Appreciate the insight The last two corrections did not take a decade to recover, it was like a year, two years max. What are you talking about? I meant Borderlands. They're at 5?! Helpful and works both mean convenient. What does that have to do with power or knowledge? You should get familiar with Windows key plus a number, you can use one hand to alt tab directly to a specific window. If you pin the apps to the taskbar they're always on the same number. Then in chrome, ctrl plus a number switched to tabs too. It's almost like working at the speed of thought, you should try it out. For someone like me that wants to get a job as professional trader to learn their end and out of market, how or were do we apply for such job? FYI I'm actually a mechanical engineer lol and I want a change of career since mine is boring. Yep. Honestly, it's a really good time to be in the market. Outside of the regulars, I trade volume momentum. I don't even really use TA. I don't assume I'll catch the top or bottom. I just need a buck on a thousand shares per position in either direction. It's difficult to consistently make great money but it's easy to consistently make good money. Once you have the share count, it's pretty straight forward. The mistake people seem to make is their trades are too large compared to their total portfolio. Yolo is not a good thing. That said, I have admit I'm waiting for the other shoe to drop. I'm finding my self tucking in those stop tighter than usual. Thanks man. Good luck tomorrow if you have positions. You should really get him to read Trading in the Zone by Mark Douglas. It’s the trading psychology boot camp he needs. Would you mind sharing what separate tasks you have going on your phone vs your computer? I just started fucking around with this stuff, have really only had TOS up on my laptop, only following one or two stocks a day. [deleted] This is the best! Actually laughed out loud. Thanks! I trade on my civic infotainment system How did we make it all the way down this line with no mentions of a Commodore 64? THIS is what's wrong with America today!!! lol Damn, you’re digging deep in the archives. My comment is about 2 years old lol At least you didn't have enron.... unfortunately I had worldcom But my 2 major bad bets were cmgi, icge Priceline now bkng...I sold to lose money at 9 and now it's 2300 Maybe if you had 6 monitors you wouldn’t lose as much 🙄 [deleted] Not a professional but lost plenty in 2000dot com bubble. Glad to see other GenX on here too. Too many youngins on here think they are financial geniuses in this ridiculous market bubble. They have no clue how it will all crash and burn and take them all down. Life will teach them a good lesson just as it taught us. I predict 90% of these amazing 19 year old traders will be getting a real job in a year. Interesting, in my sifting through ground-up learning material, that hasn’t come up. Glad to have yet another rabbit hole to dive into. Thanks for your response Ahaha in 1996 in high school I had a stat tac motorola... When the phone rang in class it was so new the teacher and kids didn't even know what to think, the very first time she asked if I could put it on speaker.... I used to have friends send me stock prices to my beeper. Using stock symbols..and we had a fraction system so I told them for 5 1/8 just say 5.08 Mainly to check the last 3-4 earnings reports..is the company profitable...why, or why not...is sales going up, down, why or why not... My rule...and these are my rules is to never pay more than 60 pe for a stock unless top line growth is 50 percent..top line is sales...I will be losers (companies losing money) but the top line must be much higher... I made my last big mistake in 2017 with moviepass hmny..the growth was 10,000 members to 5 million...my mistake is that this didn't result in sales growth..just member growth You can follow me, read my posts for very good fundamentally sound insight and plays...my comments are educational...but I get bashed alot.. especially for saying anything negative about gme amc tsla nio, Good luck Stop loss and target price. Stop-loss Target Price? My paper hands make money!!! Right on Great info thanks! This is my biggest problem not knowing when to sell when in the green. Slowly been getting better, because as my dad says it’s not a win unless you sell. Then his favorite slogan, “Bears make money, bulls make money, but pigs get slaughtered” lol. Quick question, do you have a certain percentage increase you will sell when in the green? Yes, I’m in my 50s. I did study finance in college and did an internship at a brokerage. But at that age i just couldn’t see myself working as a broker. So I’ve been starting and running businesses since my junior year in college. Made most of my money in real estate. And in that game, the money is made when you buy. If you over pay you’re fucked unless you are holding long term and can cash flow or at least break even while you wait for values to rise. I am in my late 30s and just started dipping my toe into trading (week 3 of papertrading and learning). I really wish I would have done it much sooner, but hindsight and all that... I've had a 2 monitor setup for as long as I can remember and have gotten used to it. I am looking for a third monitor now so I can put it above my ""work/main"" monitor so I can watch trading more consistently. Primary center monitor: Main office work monitor. (I work in advertising so lots of after effects, photoshop, illustrator, etc) Secondary monitor is vertical: Split into 3 windows. Top 1/3 right now I am using for main trade window. Middle 1/3 is either chrome or outlook(have to monitor office emails). Bottom 1/3 is chats/discord etc. 3rd monitor that I am hoping to get would be placed above my main one and would be dedicated to trade so I don't have to keep overlapping my chrome and outlook windows. +1 this was me. Was up a lot, got greedy, then lost it. I have noticed it seems all my Reddit stocks are doing poorly lately, even the holds. you sound exactly like my mother. shes also been trading for decades, says just take little nibbles like a small fish here and there and thats good enough. Once you're watching a sector, what exactly are you looking to learn in order to spot effective trades? Are you looking for patterns or any specific indicators? Or just lvl 2/price action after following them for a while and 3:1 RR? Thank you very much for your reply. I will definitely look into it. The one thing for sure that I know is I'm great with the emotional side of things and good with logic, math, puzzles. I just need to learn all the moving pieces available. I figure the more I can make on the side with trading wisely, the more I can defer into my 457/401k into etf like VT, VTI, VXUS (or equivalents). I've got the long game covered but would like to try and catalyse things if possible in the short term. As for my taxable, I'm only holding 1 stock at the moment SNDL. I have a long position but like to swing about 10% of my position here and there. Up roughly $1,100 ytd. I would not know what to even put in the other monitors. Too much trading can sure be harmful as well Thank you. Am I remembering incorrectly? I could be. Dot.com crash didn't see nasdaq return to the same values for a decade. I could be wrong but too lazy to check. Same with '08 crash. It scared participants right out. I could be wrong but it's what I remember. What are YOU talking about? Sorry I meant Battlefield V. Sunday brain.......doesn’t stark working again until Monday mornings at 9:30 😂 Piss off with the pedantic English lesson if you couldn’t infer that’s what I meant. I know all about that already, thank you. Learn to program (Python, Julia, C++) and try to get a job in trade support/quant development or go back to school (MBA, MS Stats/Math/financial Engineering) and get a job at bank Thats cool! So you're scalping a little bit more in a way? Likewise! Done and done! I’ve gotten him one book before about overall ownership of decisions (Extreme Ownership by Jocko Willink) but I’m gonna look into this one for myself and send him a copy as well, Thanks mate! So I’m only actively invested in a maximum of 3 trades a day, just feel like it’s easier to keep track of while trying to build a small account. My phone is chat rooms, Reddit, basic research, etc and my laptop is for putting the trades in and stocktwits. I reallyyyy try to avoid staying in positions for multiple weeks unless I feel like it’s going to really make a run for it, but so far so good. Only been doing it since last month and haven’t lost my shirt yet.... yet. [deleted] 😂 I don't trade, I barter. Can we both agree Pets.com best represented the 90s?🤣🤣🤣 I took a peek inside Enron’s paperwork. Funny story, actually. I knew Dynegy had a garbage balance sheet, so when everything was just starting to head south, my grandpa and I poured over all the filings. He worked for Dayton Power & Light and knew his way around filings for energy companies. Shorted a week before Skilling resigned. That was conformation it couldn’t be saved. Made money on Enron, got hung out to dry shorting banks during the mortgage crash. I keep mega leveraging on each position I entered and exited. Planned on retiring Monday with the latest over-the-weekend bankruptcies. Friday they suddenly suspended short selling for 2 weeks, announced TARP, and I got hung out to dry. $2.8M to $872 before I could get everything unwound. I have no regrets. Without TARP I’d have been deep in the 8 digit club. I started the campaign with $2500. my contribution to the thread: bought worldcom +++, bought Allied Capital --- Actually I have 6 monitors for 6x the losses John Roth is currently living with his cat and wife in retirement in Orangeville, Ontario, Canada. - Wikipedia While hundreds of thousands lost everything. Hahaha I traded that and lucent!! Any tips on how to avoid major losses when it does come down? Any early red flags to look out for? I've heard that before.. Failure isn't a call to quit, g. It's a call to smarten up. There will be younger and better informed people-- old timer games will fade away, as does every cycle. Without level 2 I don't want to make a trade you need to see if their is support or selling pressure...it's crucial Yea Stop Loss or Take Profit the only gray area is Friday afternoon closing early for FTMO rules Everybody's different based on their goals and tax situation. Im in maintenance mode so preservation of capital is key. For me, I start my trailing stops after 9% up. -3% down and I'm out. On some up days, I never get stopped out. 9% might have taken a while a few years ago. Today, it's within hours or within moments after the open. The opening gaps are nuts nowadays. Keep in mind alot of those opening numbers are based on small volume to suck in the fomo. That's what you should be selling to. Anybody's who's been doing this for a while will you they've done better this year than almost any year in the past. You might say, ""hey man, that's nuts. You'll get stopped out every hour if there's volatility."" The answer is ""yep. Sometimes. But I'm not trying to be famous. If you've made your week by 10:30 on Tuesday morning and you're not happy, then it's just greed."" My biggest regret is missing out on real estate investments. We just traded up our primary residence a few times. Yeah i remember that stuff...i was happy go lucky buying up 'what i thought were good investments', in hindsight a monkey could have made money buying when people literally were worried about the end of capitalism. People get really negative when they see their investments drop 50%+....understandably, but guessing this new generation of investors with BTC and GME are going to be different...YOLO! Assuming they arent all doing options anyway You remember very correctly. The Millies didn't go through these massive, crushing busts in their investments. Could you help me understand how using multiple monitors is more efficient than that? I know c++ so yeah that would help but I don't see what's the use of that for a trading job. What type of job at the bank should someone start with to get into a trading career? I’m halfway through Trading in the Zone and its spot on regarding the mental aspect of trading. Definitely read that ASAP. Extreme Ownership is fantastic well. Both books complement each other No prob! I’m currently reading it and even though I still have stuff to work on, I’m very, very aware of it now. There is also a free 4 part video series on YouTube by Mark Douglas pattered after a lot of what's in the book I've been told. This is the first video of those 4: https://youtu.be/QgaTlTfQnZI Same here. And I think I use the phone for the reddit stuff, discord, etc because it alerts me about the people I follow having made a post. And then my computer is just easier to see MACD and other indicators on. I trade using smoke signals Your mom runs my stocks straight to wall street. I'm glad I finally found one of the other 10 people on the planet who read and laughed at that RFC! Luckily I traded it but it didn't take me down...etoys I lost 50k!!? I remember calling my broker from a payphone in 1988 to buy calls. I literally had no clue what options were either other than a good gamble. All I knew was my broker (a really cool person and we used to hang out at bars and drink after big trades lol) told me that the fastest money on the street was buying calls on popular stocks. I had just walked out of a jam packed Circuit City store and was like ""hmmm, I keep hearing about this stock flying..."". I bought a grand worth of calls and tripled my money is less than 2 weeks. Instead of stacking my gains I took 2 grand out of my account and went to my buddy's beach house for 2 months. All drinks were on me to ""pay rent"". Damn I drank a lot those 2 months too... what a time to be alive. Man, it's what we learn from our mistakes that makes us...I didn't have any position in Enron..I watched from the sidelines... but bernard ebbers with worldcom killed me..I was a kid...lost 50k on worldcom....so to me elon is a snake...but he is selling shares into this new crowd.. we have been here for this...seen this story...I spot pump and dumps right away.. Yes I remember tarp...I didn't even knew they stopped shorting for 2 weeks...I shorted but only slightly....but it's what we learn my friend This gme and amc and short squeeze was absolutely epic and can't happen again because everyone is alert now...they keep waiting for another one.... Listen boys and girls this is not the first and last short squeeze...there will be more but this is epic...tsla was a short squeeze that took place over time not 3-5 days...this isn't the fainso though it's glorified..if you got rich quick on gme and amc congratulations...I'm sorry for the rest of the bag holders...this is not a new story Did you ever see the documentary, ""Smartest Man in the Room""? Excellent retelling of the Enron implosion. Bread crumbs everywhere. Problem is not blocking things out, seeing the market on multiple levels, not falling in love with a position and not falling in love with yesterday's play. I do best when I am in-the-moment and reading the market as it is behaving 'right now.' My losses come when I am trading the market as it was yesterday or trading an opinion of a stock that I had last week. Don't be afraid to be out of the market or to deleverage. There will always be another trade tomorrow. Have a recovery plan. What are you going to buy in with after the crash? You can't depend on catching the top. Too many independent variables. It's better to have a buy-in plan for the dip. This applies to short time scales as well as medium and long time scales. Not having a buy-in plan is a red-flag indicating a case of FOMO. I've been through the crash in '87, lost count of Dot Com busts, Lehman and the mortgage meltdown and now the beer virus. My big loss was the Macano well blowout. Diamond handed RIG hoping for a comeback that never happened. Now days I would bail as soon as it happened and preserved my cash. In each crash you just had to have a solid portfolio in reserve and diamond hand that until the market recovered. The longest recovery for me was the '87. Took 8 months as I was in some garbage fund in my work forced on me. That's why I trade. I'm not going to go hands-off on my money ever again. You can't avoid drawdowns if you trade. You will get drawdowns. Acknowledging that is a key to trading well. I trade better if I am uncertain where the market is going. Long term it's better to grind small trades vs chasing big plays on memes and hot stocks. Watch money flows, know where the money is coming from that is fueling the rally. ( Hard and expensive to get good data there. ) Know the exposure of your sector. You tickers are going to follow their sectors. Check the futures in the morning. ( In this new era watch Asia like a hawk. ) Asia is going to see anything before we do. Watch VIX like a hawk, it tells you what the MMs are thinking. Be aware that VIX can drop when the market is moving the direction the MMs are comfortable with ( as in the market dropping when the MMs think it should drop. ) I watch the SPXA200R. Percent of stocks in sp500 above 200 day. It's been moving down some and diverging from prices, but not chaos yet. When it breaks 70%, it'll hurt. If it breaks 50%, look out below. You can also watch the put call ratios. Practice catching falling knives in the back yard. Just take a kitchen knife hurl it into the air and catch it. I am not the best one to ask. Maybe some experienced pro traders can answer your question but imho just get out fast. Thinking a penny stock or small cap stock will recover fast or reverse a huge loss will only lead to more losses. My biggest problem was and has always been not cutting losses. Better to cut a little or even half if it tanks than to lose it all which is totally possible. Hope you all get lots of tendies. I’m not hating on any smarter/younger investors. More power to ya:) I’ll begin the journey of articles and YouTube videos to start understanding. Thanks for giving me a path. Quite a lot of methodology and setup info to navigate when starting out, I appreciate your patience with a noob! Very interesting to read about your perspectives, thanks! Just curious, do you scale in and out of your trades or are you all in-all out? Thanks for these comments, it's helped with my trading. I was doing some of this intuitively, like trailing entry/exit, only thing is I never viewed it in terms of percentage, just by looking at the chart and assessing where I think it could get to. And you're right, so much of trading in this manner is just the gap up first thing in the morning. I shouldn't just sit and stare at the screen all day, it gets annoying. Half the time I could just wake up, put in my orders and go back to sleep. If you’re in your 40s it’s not too late. The game has changed and it’s more competitive than in the past but you can still do okay if you put the hustle in Yeah. I just checked. Money left the market for a decade both times. There was no buying the dip. Folks just left and bought Tbills with the scraps they had left . Starting to really feel uncomfortable... https://www.netstar.co.uk/why-two-monitors-are-better-than-one/#:~:text=The%20main%20benefit%20of%20using,on%20productivity%20even%20more%20important.; https://www.maketecheasier.com/do-dual-monitors-improve-productivity/ « Productivity Research Increases in productivity are often touted as the main advantage to running a multi-monitor setup, and the science backs it up. A 2012 study originally published in the Proceedings of the Human Factors and Ergonomic Society found that dual monitors were measurably more efficient and less frustrating than a single monitor. Additionally, 98 percent of the participants chose a dual monitor configuration as their preference. » Most professional trading, in my experience, is algorithmic, market-making, high frequency or some sort of order flow, which requires a familiarity of programming/technical expertise. Most traders on the street are more programmers than old school pit traders. ​ Depending on your age, you'd want to do an internship (summer) at a bank in their sales & trading division. I trade using pigeons on coke I trade telepathically. Trade on my pager >Avian Carriers lol, ol' 1149 Fucking epic convo 🙌🏻 Don’t mind the young buck listening on in awe as the grownups speak. Lols eToys!! OMG so I’m not the only one who lost in etoys? IT was a great concept. Lost 3k. As someone starting out recently as a trader, I keep hearing a lot about how this isn’t a “normal” time in the market. What are some differences you would say between now and a normal bull market? I just wanna say, I'm really enjoying the sage wisdom to be shared in a thread about why TF anybody needs more than one monitor 😂 I was in on GME, but the trade halting destroyed me by setting off my trails. I’ll definitely be in on the class action. Can’t fault E*Trade, but Citadel is garbage. Bernard Ebbers always spooked me. He always gave me an uneasy feeling. Ol’ Dennis from Tyco gets a bad wrap, but if Tyco hadn’t purposely divested what he built, they’d be sitting pretty today. Ahaha love it my friend Absolutely..I hate taking losses but that is 1 of the hardest decisions. Since January 1st 2020....up until now, and I'm not lying I've taken just 1 loss...and I day trade, some of my trades turn into swing trades but that's because I trade fundamentals..you can read my post for daily plays...in any case I bought TLRD formally men's warehouse January before pandemic at 3.50...10,000 shares...I was up 10 cents right away and I ws waiting for 20... Slowly it shot down...all of a sudden before they announced bankruptcy,1 week before it bounced to 2.50 my ego...I never take losses..and I ended up selling in December at 25 cents...my luck this didn't trade in January like expr...and become a short squeeze reddit stuck...but I took a 32,500 hit because taxes and my ego I scale in. Folks will argue that you leave a lot on the table that way and they are right. However, I don't need to make all the money. I just need to make some money. That said, it depends on your investment capital and what your goals are. Not losing money is more important to me than min/maxing. I'm interested in hearing your experience though, as someone who knows about keyboard shortcuts and believes that not using them is specifically the better way of using your keyboard effectively. I trade with cup-on-string directly to the NYSE I trade with Morse code I trade! I’m trading on my microwave display I trade on my juul Same here. Trades I can only dream of doing. I started trading before computers in 87. Lol. A friend of mine was a broker and we would sit in his office drinking and smoking joints and making trades wall st bets style. I used to call him from freeking payphones to find out how my options were doing. No level 2. No charts. No live quotes. Nothing but cash and wild ass guessing. It was wild man. Seems like 2 lifetimes ago And also henry blodgett told me don't worry etys is going back up...I spoke to him in a market makers office over the phone...I was going to sell for a 20k loss....and it was him that said stay the course....and I lost 50!!! Was he telling me to 💎 🧤 this in 2000...21 years ago...the inventor of diamond hands was henry blodgett? My friend it was amazon before amazon...when amazon was books...they did gaming and toys..just couldn't get capital...but listen I was going to take a 40 percent loss and I'd still be mad..I was on the phone with henry blodgett for 10 mins he diamond handed me...and I lost 50.. it was and still is 1 of my worst losses ever... Cmgi Icge Plcn (now bkng) Worldcom Etoys Kmart the first time into bankruptcy Mainly and I'm sorry to say this, but the influx of new traders that don't know any better... commission free trading...social media...they hw e artificially inflated a ton of stocks... The pandemic kept tons at home... everyone is home trading and sure they are a genius Wow that’s a great winning streak. Maybe I should just follow you. I stink at this but I’ve only been a long term investor and I’m learning how to day/swing trade now because this current market scares me for buy and hold strategy. I lost $157,800 the other day because my brokerage wouldn't let me sell. I bought 20K shares of SCKT at 23.47 and 10 sec later went to sell at 24 and got told ""Pattern Day Traders need 25K in equity to trade""...market was closed by the time I got off of hold. Wound up selling the next day at 15.60. Stop loss wouldn't have even helped me. That one hurt. Reading a lot of your comments have given me some good food for thought. Not familiar with how scaling works though. Does this mean if the stock drops at open you buy on the way down expecting it to reverse after volatility subsides? Thinking about buying drops at open but also concerned with the macro environment of a possible shift from tech to cyclicals that may limit my upside in the coming months (even if just day trading). I like the idea of just trading a few reliable stocks. I tried buying the open dip on some more volatile stocks but they had peaked their weeks long run and I tried to catch a falling knife. Much prefer the idea of doing this with stable stocks for less gain but less risk. Cool, yeah I scale in and out as well. Do you scale into positions that move against your entry as long as your premise is still valid or only into trades that are already going your way? Agreed, the simple rules I try my best to adhere to in this regard are: 1. don't lose money. 2. try to make money. 3. try to make a lot of money (and this is the least important). My experience? Having 1 screen slows me down. Doesn't get much more simplier than that. You can ignore the science and the studies all you want tho, don't care. Have a good day. I trade on my 1990s car stereo I trade on the global trade station in Pokémon Diamond Why use many words when few words do? [deleted] Totally thought it would be like AMAZON. It was too much ahead of its time. Not enough retail shopping being done online back then. That sucks. I'm putting a daily play everyday for the past 2 weeks... I'd say 90 percent of my holdings are day/swing trade..10 percent long.. 1 of my longs, Ge, I can't wait to sell at 15...I bought it in 2008 for 12...where is it now? Under 12! And no dividends garbage Read my posts all my plays make sense. 10 plays in 10 days and profitable in that day. Tomorrow I will let readers vote...because my posts are getting bashed https://www.reddit.com/r/stocks/comments/lnewh4/yesterdays_play_was_absolutely_amazing_while/?utm_medium=android_app&utm_source=share Very odd...I mean 20k shares should suffice for the 25k that doesn't make any sense...I'd try and fight that..... Yes those speculation and momentum stocks are dangerous I'd only put a small amount of capital in them How does it slow you down exactly? I'm probably doing something slow without realizing it then, which is good news because I'd be able to speed up. I exclusively invest in lobbys on the grand exchange. Best (Charlie Brown Voice) I got a rock 🤷 Jokes on you losers... ​ I trade demo I trade using punch cards This is gonna get buried, but it was done with sweet haircuts and phone calls. https://youtu.be/-tP7nXjjg1c?t=431 I already follow you. I did try and fight it but apparently my dog shit of a brokerage uses the previous day's close for equity calculations...paid 235K cash and 235K margin to wind up with 65K in equity, so the system thought. It's the dumbest shit I've ever heard. I own the stock, *let me fucking sell the stock.* Give me any BS penalties or fees or restrictions or slaps on the wrist AFTER. 🦀$11 🦀 And Paul died of a heart attack at the age of 34. LMFAO Edit...I just looked further in YouTube. he is still alive and probably still on coke Did you make any plays or you just joined? Some people took advantage of flws, virt and pltr...they were amazing..the other plays 50 cents but for me that's good enough Haha! And worth 5+ billion, too. Maybe he's born with it. Maybe it was the Coca-Cola. (that's what we're talking about, right?) Just joined Absolutely;)coca cola. I don’t know how anyone could have done those jobs without it. I’m not in the biz but watching it made me anxious. If my day stock is down .20c I’m freaking out." "Today I made my first $70 bucks from the market, & promptly logged the fuck off.",3191,https://www.reddit.com/r/Daytrading/comments/lvon5a/today_i_made_my_first_70_bucks_from_the_market/,"No thats awesome. Congrats. Keep it up and keep your head in the game and never get emotional, only analytical. Your future will be bright. Seems not so long ago my daily benchmark was $100 unrealized gain. I logged $7k in realized gain today. There will be growing pains and losses but if your truly invested (pun intended) you will succeed! If I only knew you were allowed to stop after that first win... Just remember the process should drive happiness not the result. I made $1k today but in the last 5 days, if I add it up, I made zero. That’s $17,500 annualized! Great job! Congrats brother.....I am just starting myself. It's been an exciting 4 months! SOOO much to learn. Knowing when to take your profits is just as important as knowing when to cut your losses. Once you hit your targets, take them and get out. Don't get greedy. Congrats bro! Stay disciplined like that. $50 every trading day for the year is $12k. My goal is always $50 at a minimum. I trade options, and have long positions. But I shoot for at least $50 in scalps. I made $675 last week, which is almost 3 weeks worth of goals, got greedy and lost $291 on TSLA options. It was green for a few min, but went red, and I doubled down, then quadrupled down lol. Stay disciplined bro This is the way. The learning curve is a long bumpy one, but very rewarding. Keep it up! congrats! I started an account with $500 in it almost a month ago and I'm at close to $900 already. at this rate, I should be a billionair within 6 months... assuming my math is correct You should get a trading psychology book. I recommend the daily trading coach. You WILL lose money at times, especially starting out. It will likely take at least a year before you can find consistent profitability. Don’t get too high or too low. $70 is just the start! Keep at it and you'll see more and more zeros added on ;) I am also very new, green and ignorant as to the finer points. I started in November,promptly lost $3,000 backed off, went in with small positions and as of today I have made my losses back and I'm a little bit ahead. It takes a lot of dedication, discipline, emotion control and the ability to admit your mistakes and to learn from them to be successful. I still have a long way to go. Thank-You for your post! It's great to know that there are a number of novices going through this. Wishing you great success in 2021. I don’t want to be a downer but today with the market being up over 2% the odds were definitely in your favour. Congrats on the first win but be careful! Great job! Now I’m saying this purely out of love... get ready for the market to eventually pull your pants down and take you to funky town. Doesn’t mean you are overall going to lose... but you will 100% lose some profit at one point or another. That is great! Keep reading and keep sane with your trades. But also keep reading. And watching Youtube videos from qualified people. This is amazing! I can totally relate. Discovering my passion for day trading turned my life around too...from feeling like I had no purpose or direction to feeling excited to wake up every day. I am so happy for you!!!! Congrats and fuck you. Attaboy. Did you start because of all the GameStop hype? Congrats bro, now do it 20 times ... You will come back for more. There is no escape. You will be hooked This is my exact story. Thanks and keep on keepin, on. You are not alone. Congrats. I remember when I made my first few wins. Amazing feeling. Made over $27k today (69 trades) Stick with it and remember that a win is a win Be careful and conservative and learn. Read read read. I have been trading for years and am not a professional by any means but I have grown my little tiny day trading account from a few hundred dollars to 30k+ and my long term investment accounts into the low six figures. This took time and patience. I made some mistakes here and there but also made some great plays and gains in other areas. Just make sure you know what you can risk on each trade and make sure you trade with money you don't need. I started with my dividends from my stock from the company I worked for. It was 60$ a quarter and that was enough to start. Find your strategy and stick with it. I like to sell at a particular profit point and move half to another stock and rinse and repeat. I leave some gains on the table but I average up and have few true losses. Many of us here started in the 20, 30 or 100 dollars in a day and it takes time to increase those gains. I cannot stress enough the learning and reading aspect. Lastly congrats bro! Welcome to the fun! :) Congrats man, after loosing $5 over the course of my two week investing career, I made $2 today and i am estatic! Yeah I’d be careful as f with this, sounds like a recipe for disaster for your mental health Awesome 👍🏼 I know how you feel I made three day trades normally I’m a long position individual. But lost $70 first trade. Made $780 second trade and made a $1.80 on third trade 🤣 I accidentally messed up my sell limit order I started about a monthish ago... time flies when all the days are basically the same... I made 300 one day, lost 500 the next, made 50 bucks the next, etc. It's been a rollercoaster. The thing is, no matter how low the stocks I have drop, I had the faith to purchase them to start with, did the DD on most of them...hey, I'm new, so sometimes, you get talked into buying T&A stock, because who doesn't like boobies...then you go to their website the next day, and find the owner talking smack about little guys like you buying their stock, and basically cutting their own throats. The point is, a stock had value to you, at a time. So, don't panic sell. Most will tell you to set a stop loss strategy, and I say that's a smart play. Me, I go balls in, and like Michael Jackson sang...I don't stop till I get my nut... oh wait...that's not how the song goes. But anyway, I toss a 100 or two at a stock, and see where it goes. I'm not rich by any stretch of the imagination, and used my stimulus money to get started. I wasn't afraid to cash out, when I got a stock, like DPLS that went up 300%, and then I reinvested that ""house money"" into other stocks. Some did well... some are laughing at me with their dying breath...freaking Lingerie Wrestling Stocks, I'm looking at you... Just do you. Never play with more money than you are willing to lose. If you take a loss, think about the gains you made, not the losses. Just like in Bangkok, never be afraid to pull out if something doesn't feel right. That's how it's done. You are smarter that I am. What resources did you use to learn? Congrats, that takes great discipline. Those small gains really add up over time. Congrats Friend! Things will always get better. Knocked down but never knocked out. Keep grinding. I try not lose anything I am uncomfortable losing...so if I do see red all day it’s not that big a deal. Congrats and keep it up ....we are all helping each other out in the long run! Congrats! wish you all the best on this wonderful journey. Always use percentage! [deleted] As a new day trader aswell where did you look to find information 🤣💦 VERY WISE MOVE Glad you’re stoked, but be wary of relying on your dopamine fix through the stocks. No jumpy trades you fucking retards! I love you! now go add zeros to that bank account!! Congrats. Fair warning, depression and day trading don’t mix well. You gotta stay zen af. honestly one of the best titles ive seen in a while How are you gonna feel when you lose $70? I’m just saying don’t base your happiness on your gains because they won’t always be there. Congrats. Though really, from all the metaphors...""sh**ting into my creal"" is way to graphic! ಥ‿ಥ I made some of my first intentional, live day trades today, and I ended up down a little bit...but I stuck to my plan and that felt weirdly freeing. There's a lot less stress in a stop loss than anxiously watching and trying to guess the next tick. The only negative is I was overly optimistic in my exit target and missed out on a gain as a result. Going to revise my ranges down to focus on even smaller wins and losses as I get more practice. this got more traction than i thought it would i can’t reply to everyone so i figured i’d add more context for those interested or have questions (other newbies etc). today was my first day of live trading i have been doing my job as a sponge and absorbing as much information as i can (doing my best to ignore the noise) which alone was a tedious task. however i figured at some point i’d need to have my trial by fire & decided today was the day to put my knowledge to the test. i have paper traded using both a stop loss & without. as some people have pointed out the market was on an uptrend today & i decided to test my conviction & confidence in my position. i’m currently trading macro futures & my risk is pretty small & i was ready to take my losses to the chin. i just wanted a raw experience as i tend to learn more from mistakes. the market tested my mental fortitude for sure but i believed in the reason why i bought in & held till i was validated. for those of you concerned about my mental state & how it might affect me as a day trader, just know that this has become something very positive for me & a source of motivation & drive which is really what i have been searching for. i’m not desperate or just bored i’m respecting the trade. no pun intended 🤙🏽 I make $5k-$10k a day dude Keep it up man 😎 Just remember - Always set stop loss, and book your losses the same way you book your profits. And keep note of your trades. It gets better over time and will help you identify a pattern of profits/ losses from your trades. Congrats on your first profit. I’m in the exact same boat as you. Only up from here You'll always remember your first. :) Well done. Thanks for the post. Same here....you definitely not alone. Congrats bro! Remember to stay disciplined! first ones always free You did better than I did. Currently I'm down $95 because of FOMO and miscalculations. But I'm doing better and I can't wait until I have actual gains because I applied what I have learned. Thanks for the insipiration. Happy trading. ""Promptly logging off"" made me a better day trader. Congrats, keep going!! Lost 500 on options today if that makes you feel even better. Congrats. Take profit when you can! Nice to see:) Congrats, take the market $70 at a time.........set rules, be disciplined Good luck to you on this new journey. I just started mine today as well on webull. Made a decent $183 return on my first day :) very happy and excited Everything takes time. This takes way too much research time. But the pay out is worth it. Hope to learn a lot from fellow redditers. I’m in the same situation. Still learning, so not risking much right now. Walking away with a small profit does the same for me. I just figure it as I could have spent the whole day at some crappy job to earn the same amount. That’s all the motivation I need. Lol Good job and keep it up!!! Keep winning, and when you lose, don’t dwell on it too much. Logging off is one of the hardest things to do. What app is everyone using? I’m tracking a lot of the tickers that come up on penny stocks and a fair percentage aren’t trade-able on Webull. Should I be using a different broker? Enjoy this high! Are you reading books on it? If so which ones? I want to start myself You smart! Me not! Not shmart at all! Me new too! :) Made 67 bucks in the morning and decided to learn clicking faster and experience the middle of the day. Stared at the screen learning to use the mouse and got caught on the downhill. Hey. It’s a good feeling. Enjoy and embrace it. This is the way Congrats, but building your ego around daytrading is a dangerous move unless you want to have it completely destroyed fight club style Congrats 🎉 A winning day is a winning day. Well done! Aaaand, it’s gone. Don't log off, hang around if only to observe and learn 70$ is great. Do not ever think bigger that’s my advice Congrats i had to learn to do that the hardway Nice job! I’m very proud of you Come on buddy you are somebody you're making an effort and you realize that life is painful and you're trying and that's more than most people do God dang it hang in there keep chugging away. God bless you God bless America. That’s fantastic! You never forget your first. Don’t be surprised if you win the first ten times or more in a row. As long as you learn to take the money and run you’ll be ok. Keep going to the moon 🚀🚀👍 Much love bruv. Wishing you all the best on your new adventure. Welcome to the cult I made .01 on my first day. Your doing a lot better than me. Good for you Congrats! I started an account with $130 on it and grew it to $870 in a month. Then got knocked down back to $400+! Remember to not get discouraged winning is awesome and rewarding but take losses as learning experience. That's awesome broski! A win, regardless of the amount, is still a win. I've had many instances where I thought I was having a good day by winning hundreds but I got greedy and over-trade and eventually make a huge loss instead. Still learning from this problem! Good job my friend! 😂 Realist shit I’ve heard. Reach your numbers and get the fuck out. I’ve been stalking litecoin for about week and I figured out my game plan. I set a buy price point at $165 or lower and sell price of $175. Once I hit my number I’m out. Sunday was a good day to buy crypto low prices everywhere. What resources did you use/read to start learning how to day trade? Any specific apps? lOVE YA!!!! R U CEREAL? WE ARE ## r/DaWallStreetBetsStock COME N SHARE dont let depression get to you when you have a losing day. Congrats on your win! WARNING! Wholesome threads on this post!!! I'm new too, what were some resources you used when you first started? Congrats!!! I'm right there with ya! Don't let the red bother you so much. Almost not at all. Every penny is a learning lesson and red is a very good teacher!! Also try to use what I call ""play money"", that twenty bucks I would have spent on a month of cod mobile, my secret chicken nugget addiction, stretch a pack of smokes, it's more fun to me to put it into the market to see what I can do with it now. This has become my newest addiction, I watch it like I've got thousands in on it, no shit. If I lost it all now, I'd be out less than a hundred bucks of my own dough plus what I've gained and for the few months I've had of learning so damn much, reading these wild, funny ass subreddits, lurking in these cool communities, the excitement of it all, the money was worth every damn penny. I wrote down my first deals in great detail: what I felt, how I reacted, why I decided to enter a trade, why I left the trade. How much I got from the trade, what I bought with my first earnings from a month of trading ... So interesting now to read about those emotions! Now there is a completely different sense of trade, more intellectual. have a daily target everyday and stop once you hit it. once you can hit it consistent, level up. GL Nice, now please describe for the new people the difference between paper trading and the real thing. If your emotional or weak minded trading and investment will not work for you Hey op if you don't mind what was your capital for that 50$ gain? I'm thinking of day trading too. Thanks. Which is exactly what you should do That's one strategy. Can build each day for that. This is something. You are someone. Profit is profit. Not letting it get to your head is wise. 1% additional account value per day is about 900% gain per year (assumed 220 trading days per year). I was completely obsessed when I first started, it was the first thing I thought about when I woke up, most of the day, and as I went to sleep. It’s a great feeling to have something come along and make you excited about things again. Welcome and good luck to you I've done the same LOL Well done for such positivity. Its become very popular in these pandemic times and is a side hustle in itself. also You can make a little money too, find out about new companies and new industries developing, flying cars, weed, space launches etc. Keep going and remember there will be losses too - Green and red days.. Motivation, I just started in stocks a month ago...ultimately hope can start day trading and gain some independence from my job.. Your awesome! Be careful. Nothing will amplify emotions that money. Youll ride the highest highs when you make the right call and your depression will amplify when you fuck up and make the wrong one. This will be unpopular here but if you were severely depressed I would strongly encourage you not to day trade. You need stability. Day trading is not that Hey bro! I feel the same way man. When I made like 50 bucks when I first started I was freaking out and it made me feel good. But remember don’t get too addicted to it like gambling. But instead, read as much as you can up onto it. It’s really cool to learn and be confident on what to buy ! Congrats and keep pushing bro! The sun falls and rise again! Aloha What’s a good amount to start with ? Can you tell a bit about your methods so far? I’m interested in day trading but I’m just a mood at this point. What was the trade on? How’d you discover the company? How did you conclude that the stock was a good buy? Grab the small gains!! They add up!! Cash is king in a volatile market. Good for you! Congrats, dealing with depression is difficult and day trading can actually cause extra stress so be mindful and hope you continue to have fun and hodl /r/gambling That’s what you want to do!! Good job Are you actually a brand new *day trader*? Did you toss 25k into a brand new account not knowing how to trade a lick? That is a VERY slippery path broski. Congrats all the same. Like the great K. Rogers said. ""You got to know when to hold em, know when to fold em, know when to walk away and know when to run."" dont get discouraged when the market takes that 70 and then some right back Did you figure taxes? Good on you I’d have so much more $ if I did this more often Upstart stock is going to the moon Buy Kohl (KSS) First one is free Congrats! Remember not to get bummed when you lose it. It’s a marathon, not a sprint 😉 YAAAASSSSSSSSSSSSSS Congrats biiotch! Much love to you fam. Congratulations! Sometimes I think of it as a puny mortal seeking to pluck a scale from a huge violent dragon. It does not seek to take my life necessarily, but it most likely will if I am careless. If I can manage to pluck a bit from it, I call it a win. Small scale, (sorry), but for my aptitude and abilities at present, it has kept losses to minimum. I racked up $70 in profit but didn't cash out. Excuse me while NIO fucks me dry Great job! Start with a small risk because staying in the game long-term and not blowing up your account is like 75% of the trade. The first of many wins to come. Welcome aboard! have you had a red day yet ? Market giveth, market taketh Keep up the good work. Remember it’s not the number that matters but your decisions. Make the right calls and you’ll do okay. Congrats! Awesome job. Keep it going. I made $16 today and did the same. All gains are positive. little bites here & there, keep safe, you will get there with hard work, keep learning. Been trading for 3 yrs and found the right person in august to help [https://www.reddit.com/r/Daytrading/comments/lj6738/new\_broker\_recommendations\_for\_over\_25k/](https://www.reddit.com/r/Daytrading/comments/lj6738/new_broker_recommendations_for_over_25k/) If your stocks start getting depressed, just know they’re working on their self love and they’ll glow up again soon. Upstart stock got 66$ price target from analysts its 56$ today easy money 💰 😀 👍 i was in the exact same position. as a college student i felt like i was in college for no reason and wasting time because i didn’t know what i wanted to do. once i found the stock market everything just clicked. i’ve been daytrading options for about 2 weeks now, so far on a green week profiting around $30 per day You can paper trade on think or swim to get stated Same thing here. I saw what happened last winter and was like-this..this is metal. The “stick it to the vile pigs” who’ve been manipulating the market, manipulating lives, for too long. This is my bag. I decided I’m in. Went full retard and figured if I didn’t put my money “here and there” it would go to silly shit like healthy food. I’m much happier, a bit thinner in the pants but thicker in the wallet. I’ve still so much to learn but not doing too shabby for a 40 year old lady truck driver lol. I’m hooked. Keep the gains coming in homie So many people are stuck in the mindset of broke, and learning a new possible career path like trading gives me realization that all we need is knowledge, determination, and dedication and we can do some amazing things. Stay strong and stay blessed. Starting out that’s exactly how I’ve been with day trading. Make my money and kick back on a green day. did the same, fucking forget about change rate You should supplement your trading with a lil cocaine. Brings the mood up and keeps ya sharp between the ears. Today was my very first day. I bought a penny stock and made 42 cents. I was so thrilled i stopped. $70 seems far away for me so congrats to you :) thanks! and for sure, people always said the live markets are always different & that really slapped me in the face today. the market seemed to ferociously dip as soon as i bought in, i felt confident in my position & held but it really tests you mentally when you see yourself go red. so i’ll definitely embrace those hard learned lessons I eagerly await the time I log thousands in gains in a day. I had a day before the slide that was 700 in gains and I felt like the Queen of the market. XD I did 2 swing trades this morning for the first time (on purpose anyway, I've swung trade the wrong way before lololol) and gained about 40 bucks combined. Nothing great but it was on about 200 bucks worth of spare change in my account, so I'll take 20% any damn day. Just gotta get more confident and comfortable to lay down 1000 instead of 100. :3 My slave wage job makes swing/daytrading really hard some days (and impossible on occasion), though, I'm almost never at my desk and it's because I'm usually working on something with my hands which makes it hard to do anything on the mobile apps. Does anyone have any suggestions/tips/tricks to make it easier to do a swing trade every now and then when your job makes it difficult? Or am I kinda just at the mercy of whenever I have free time? Curious parties would like to know how long you have been trading? As a new trader I'm overwhelmed with the education options out there. Can you recommend some good resources, paid or free to learn day trading? *you're Amen 🙏🏼 good work Please teach me thank you how long it take you to go from 100 day to a 7k day? The house always lets you win a few, to keep you in the game. really 🔥line. i like that a lot thanks for sharing Thanks to whomever give me some award. Idk what you do with them? But thanks lol Poetry my friend! Odd you should say that. I'm an adrenaline junkie and it really pisses me off when I wake up in the morning and nothing looks promising. Can it be both? :P It’s the thrill of the hunt Saving your comment. This is the way. Agreed. I had a penny stock up over 100% and got greedy, left it all on the table. Then the last 2 weeks happened, and I cashed out while it was only about 5% up. Bought back in after 3 days of sliding, thinking it was over. And then it lost for another few days... After today, I am miraculously back up in the green a few % and just hoping like hell it keeps rising the next few days so I can get to a point where I can sell off some shares to ensure I've made my money back. I should've taken half off the top the first time, so it would've been all ""house money"" so to speak. Then it wouldn't have mattered if it dropped like shit the next day, I have the monies to just get more while it's on discount. I feel like I've seen people explain this exact situation before and somehow I still did it instead of heeding the advice given. Whoops. edit: I'm new to daytrading as a strategy so this was all longer play stuff, but I think the general idea kind of applies anywhere. Averaging down has yet to work out for me on those short trades. It gets out of hand quickly. Also I'm just 3 weeks in. But that hoping for a turn around can get ugly. How do you even start? Where do you start!? I wanna start doing this but don’t know shit about the initial process... Math checks out. See you on the moon, friend. Interestingly enough, I also started with $500. Got up to $1500 from Jan to end of Feb Currently? $459 😢 I buy you a pint when you get to your billion in a year You got extra six months free to get there ! What’s the difference in being a day trader? Are more/different taxes involved? [deleted] Lost 720 to gme and now making my way up. Make 53 dollars this month from little positions while I keep learning and watching. Very, very careful. Today was a straight ramp upwards loool Thanks glad someone said it. Read it was the best day since June for s&p 😳 If you lost money you’re doing something wrong Not OP but I did... guilty lol. At least, being far more active in the market because of it. Before GME I just picked a few stonks to go very, very long on. I knew there were things called options, though I knew literally NOTHING about how they work (now I know just enough to completely lose my ass on them), I had never heard of a warrant. No clue how to read a chart that wasn't just a line (like robinhood >\_>)... But when I saw the absolute MADNESS that can happen, and why, I became enthralled in figuring out how this here ""market"" thing works. The last month or so, I think I've missed my self-imposed bed time literally every night, because I'm reading about some company or analyzing a chart or something and next thing I know, it's 3am. Totally . Great victory but consistently doing it is a whole nuther level ""My computer contains a disease for which there is no cure"". How are you picking 60 plus trades? That’s amazing. How long have you been trading? R you spread betting or r you doing cfd ? Sounds like the second one made the entire week. I use WSB and smashing my head against the wall. Am I doing it right? I made a fortune on gme baught n sold at least 5x I love you both It’s easy to log off. Then I log back on. Then off. Then on. Off. *Are you reading books* *On it? If so which ones? I* *Want to start myself* \- itspinkynukka --- ^(I detect haikus. And sometimes, successfully.) ^[Learn more about me.](https://www.reddit.com/r/haikusbot/) ^(Opt out of replies: ""haikusbot opt out"" | Delete my comment: ""haikusbot delete"") ##This Is The Way Leaderboard **1.** `u/Flat-Yogurtcloset293` **812** times. **2.** `u/OverDoneCactus` **319** times. **3.** `u/UglyWaffle27` **224** times. .. **17807.** `u/Market_Crash` **1** times. --- ^(^beep ^boop ^I ^am ^a ^bot ^and ^this ^action ^was ^performed ^automatically.) **going to the moon, upstart stock is.** *-Nice-Pop-6645* *** ^(Commands: 'opt out', 'delete') I have a post it note on my laptop that says ""No Jumpy Trades Fucker!!!"" ...meant to remind me that if i made the trade it was for a good reason and as long as I know where I want the trade to go, be patient. Perfect timing is impossible sometimes but if you did your homework just trust it and let it play out. [deleted] After the last 2 weeks, I have learned that red is just temporary and to just laugh at how bad it looks at times. Embrace the crazy, is what I'm saying. ""...but it really tests you mentally when you see yourself go red."" I resort to verbal abuse, calling myself a coward and much worse names in those moments. Does wonders. Only hold your position confidently as long as your stop hasn't been hit. Just remember day trading has the same addictive quality as gambling, an endorphin hit can alleviate depression... One more from me, I have found that live market with your own money at actual risk brings in having to contend with emotionality that paper doesn't do, and you have the opportunity to learn how to manage that as well. Set sell limits.. Limit sells, have a mental estimation on where you think the stock is going to go. 2-3 years. Read ""Making of an American Capitalist"", or any quote by Warren Buffett. Dont take it as gospel but a framework to build your own style and strategy in. Know the fundamentals of company and stock evaluation first and foremost. Cannot stress that enough. There is tons of different resources out there. Use many. I'm also looking for advice on this. Then they offer to comp you over at the craps table... Legit, if I wake up and the pre market is just a sea of blood, it can really ruin the day. Literally same lol. I am super exposed to TSLA, as I hold a lot of ARK. So when TSLA goes red, I play puts to hedge. Was working great all week until Friday lol. I averaged down just to see a quick 10% in option movement to get out but it just wouldnt give, kept throwing good $ at bad $. Emotions got the best of me smh. Cost me $300. Rookie mistake smh I am using ThinkorSwim so I started watching the how-to videos for the app. I figure, the better I learn the program, the better I'll understand stonkz. I started with support and resistance. then learned about market cap and volume. then watched videos on MACD, VWAP, RSI, SMA... so i pretty much know everything now. that's why I assume I'll be a billionair in a couple months. plus, my smooth brain can't accept anymore information I haven’t done live trading yet, but I use Reddit to find reputable and non scam youtubers that explain concepts, and EVERY SINGLE time I hear a concept I don’t fully understand, I write it down, then I find articles or videos to explain those concepts, and within THOSE explanations, I write down anything I don’t fully know, so I am basically able to build up lots of understanding about the general concepts. Get schwab and then order the books technical analysis for dummies and swing trading for dummies. Scale up from there! Sign up for brokerage account, put money in account, buy stocks with reckless abandon. Kidding but yes, you need a brokerage account to trade in the market. Then you can buy shares of companies you think will do well. As for overall day trading procedures, definitely read into that. Edit: not sure what country you’re in but in the US, some brokerages people use include TD, Fidelity, Charles Schwab. Day trading? Or anything dealing with the market in general? this is the way but see, you bought stinks. you should only buy stonkz. Thank you, but I don't need the extra time. I'll be on Mars before you know if!! [day trading ](https://en.m.wikipedia.org/wiki/Pattern_day_trader) I have a number of different watchlists for different sectors, On any given day, some sectors will be stronger than others. That is where I start. Also look at news and chat to see what others are thinking. My dumbass was scalping short positions on meme stocks on very obvious up trends, it worked out but god I felt dumb when I could have just traded with the trend You know enough about options to be dangerous... to your portfolio lol meanwhile i’ve been getting up at 6am regularly for the first time since... ever? west coast probs same here. And I just bought RKT options yesterday and watching it go crazy today. It’s really not... buy at support lines and sell when your up... don’t buy resistance or don’t play in between the lines... recycle your shares if your wrong. Later, learn how to be patient to get bigger profits. What matters now is to just be green.. even if it’s 5 or ten bucks or whatever your account (can handle) is. GL I have scanners, but in this case I did multiple “scalp” trades on GME, AMC, etc About 5-6 years of investing then 2-3 years of day-trading. Past two years have been great to me! Neither. I’m not sure on the lingo as I’m very new to day trade but I was observing the stock and entered a buy after I saw the stock hit the same bottom twice and placed my limit order for were the stock had peaked twice before that day as well. The second trade did make the week. That's the big trick: patience. No jumpy trades, fucker. Seriously though, at what point do you differentiate between a worthy trade taking longer than planned to realize and a trade that will collapse in a few minutes and that you should exit now at a smaller loss? Isn't it holding in both cases? Mine says “ sometimes the best trade is no trade at all” I'm new, but what I've learned is to set it just below the previous low candle. Meaning find the previous low before you bought in and then set it just below that. You can then measure that distance in price from your buy in to the stop loss. Then take the most you want to lose on a trade and divide that by the price distance. That gives you the number of shares to buy. If you hit the stop loss it will stop you out at the most you want to lose on a trade. For instance if the your buy price is 12$ and the stop loss is 11.50 the difference is .50. If the most you want to lose on a trade is $10 divide that $10 by .50 and you get 20. That means you can buy 20 shares and if you hit the stop loss of 11.50 you would be out the $10. Having said that, if the stock is swinging a lot I might give a wider gap and buy less shares. But I've found more than not that getting stopped out is a good thing. I amount I've missed gians on is nothing compared to what I would have lost if I had stayed in. I'm also new, so this is just my observation so far... Chrisvirgo makes good points, I'd also point out that if there's no news and it's dipping, but not quickly, it's likely just temporary. Happened to me this morning with ASRT. I bought some this morning during pre-market, just in hopes that it would have a quick spike because of the chart setup. And when it did I took my profits and stopped looking at the ticker for the rest of the day. It ended up closing the day 9 cents higher than my exit point, but it dipped in between and I wasn't sure it would keep rising after such a big jump in the morning, so I played it safe. I could've made roughly double what I did on that one if I held until days end, and I could've lost money if I sold after it dropped and stayed down for a while. I started making real money on the regular when I set my loss exit at -75%. Setting to the previous low candle was mentioned and I've found that works better on the 5m and up charts more than a 1m chart. When I first started I set 10% or 20% stop losses and did nothing but lose money yet most of the time I'd end up watching the play I was waiting for pan out anyway, but later. Once I accounted for volatility in my approach, the green days and weeks started to become a regular thing. Be analytical, learn the difference between no new information and real indicators. If you get into something make sure you don't just have a good reason, have a few. Stocks move up and down for a million different reasons and most of them don't matter in, but what does matter is that your original thesis hasn't been proven wrong or it's no longer worth your time to keep your money illiquid. I personally decide where my exit point is before ever entering a trade, and I have a rule to never lower that exit point. If I miss or lose, I just move on to the next one. Also, you should be deciding that exit point based on a combo of 1.) how much account risk you can tolerate(what percent of your account are you willing to lose today? For example I’m not willing to part with more than 1% on any day. 2.) how much volume there currently is. 3.) what the closest resistance point is. Ironically I also logged $74 today. Woop! I'd say that is as different as the individual making the play. Like, if you go long on something, just forget you bought it, and don't let the day to day bother you...look at the quarter to quarter. Set your stop loss up where YOU are comfy, and just let it ride. If, on the other hand, a 50 dollar stock is too pricey for you, as it is for me, because I am the cheapest of cheap arses... and then suddenly you see it dip 10 bucks, it's probably time to pull out. I'm just an ape, who flings poo, and has about a month of playing this game, and is up 2500 bucks...would have been 3000 if last week hadn't made me its byotch and didn't even bring the lube... but seriously, it's all about your comfort level, what you can ""stand"" to lose, and how long or short your position is. You have a plan. Always follow the plan! It leaves no room for error. Stop loss is your friend. put it an ATR below the last swing low (low point) of whatever timeframe you're in I originally stopped using them because Robinhood triggered them at market open sometimes without it ever getting close to the limit I set. I do set some (now that I'm on Fidelity and Charles Schwab) when there's already a decent gap from where I'm comfortable selling and where it is, but it definitely feels like sometimes it will dip just below for a little while and then climb up and the auto trigger would get me, so I gotta figure out how to navigate that. Wow excellent work! How did you go about learning? I have been dabbling for the last month just using YouTube to learn most things [deleted] A free buffet can really change your outlook. I also trade with an incredible amount of emotion. Really makes my boring life more interesting if I treat every trade as a measure of my self worth That sucks. We work so hard to get up that hill. Then trip and roll all the way back down. If I give you $18.53 can you make it into a billion too? Just one is fine with me. Congrats in advance on your first billion, I’m so proud of you! [deleted] to find time is the real problem for me i think I already tried signing up to eToro but still waiting for verification process to be completed. Then I guess I’ll see what I can do! Thanks a lot! I'm not even up to $1000 yet. but I'm trying to be aggressive well day trading looks to be more like it as considering that i could trade only around market open and close hours which would (in theory) make me a relatively comfortable life. 😀 Indeed, I know that they cost money, and are basically a guess as to where the price will up being by a certain date. Beyond that, still kind of a mystery, so if I did try and play some with my current knowledge I would very likely screw myself out of money. lol I've been tempted to stay up until 4am to get in at the very start of premarket. Do I have a gambling problem? D: lol Nice. Congrats, dude. Week made on MONDAY, no less. Time to retire, amirite? Hahah so damn true 1. Don’t buy when it’s going up thinking that it might go even higher. Most of people sell after some gainz 2.Try to identify the resistance point, most people make a buy limit so it buy automatically when it hit that point. 3. Don’t get greedy on your gainz and don’t forget the stop lost or the trail sell 4. Sell before market close if your broker don’t allow you to trade after market. Most of the earnings are before or after market I'm new to trading and this sticks out to me. I've had a few days where through crap analysis (still learning the game). I couldn't find a stock to buy into. So I didn't for two days. It was difficult to fight the urge not to play the game as a newbie. You can get a position size calculator. Helped me a ton. [deleted] [deleted] [deleted] [deleted] Lots of people set limits that get triggered on market open, happens to everyone...That's one of the reasons the market is kinda crazy when it first opens. I kind of even wonder if there are bots intentionally trying to trigger them. Maybe there's a way to capitalize on that, but just being patient is what works best for me. What an ignorant statement. I agree entirely. XD Honestly smh. Humbling week though. I was non-stop green from Jan 27th until Presidents Day. I needed the reminder that stonks do in fact, sometimes, rarely, go down yes. but I'll keep it. thankyoubye!! that's very sweet of you. thank you man, that's the same for me... the first week, I did very decently (and I mean after playing with a paper account for a while)... I was able to look at the charts and I could ""see"" it... like the matrix... but then PAF!! it was info overload and I forgot everything and just screwed everything up... so, I started over with various videos, and so now I'm just trying to slow down and really learn one thing at a time. so far, I've learned one thing. LOL Yeah same. Do you do school or work? I usually do my research at like 8:00 or later cause i dont have time because of schoolwork the rest of the day. And during dead time during the day i compile videos to watch, or knock things off my research list. [day trading ](https://en.m.wikipedia.org/wiki/Pattern_day_trader) Thank you we will see if something looks good I will probably jump on it. Thanks! Do you have any tips on how to set an effective SL Just advice because you say your new , pick 5 stocks with volume and some volatility and stay with those.if those arent moving, then you stay out of it for the day.Or trade micro mini futures, the same one every day. You need baselines to make picks against. A new stock everyday is asking for trouble because you have no history with it and no real DD time , just TA, and with stocks and options, you need the DD , not just the TA like you can do with futures. > position size calculator Excel (or libre calc) formulas on a custom trade sheet template. That way you're automatically recording the trade too. I try not to trade the first 10 to 15 minutes of open. But I know there are people that love trading that. Maybe with more experience I'll try it, but right now to me it seems too unpredictable. It's really helped me since I started reminding myself of it during red days. My overall panic was COMPLETELY absent the last few days. I was more depressed, not gonna lie, but I wasn't panicking... and as someone riddled with anxiety, that experience makes me more confident than ever that I can do this shit. :D >SmokyTyrz Musk\* I try to get in when they are LESS than a penny, and ride them until they hit 5 or 10 cents or so. DPLS was one I bought at .001 and it popped to .03 and .04 it doesn't sound like much... but I made 800 bucks off of it. I bought like 20k shares of it at .001 I sold half to recoup my investment, invested it in other stocks, and sold half of that to get profits, and still hold about 7500 shares... watching them grow, and fall, and grow, each day. DD is for suckers. I just Yolo on the reddit stock I see mentioned on reddit. step 1 - reddit step 2 - profit i am not a financial advisor. But first you need to understand the graphic, every candle have a meaning, candle that goes up and candle that goes down. Second you need to understand what’s a resistance and what’s a support, people put order on the support so when it reach out a lot buyer buy in the same time so volume goes up and price to I’m new as well. That first half hour is a blast. So far, I’ve had overall success trying to find deals on things I’ve already been following or ill sell / take profits on portions of my positions that seem to be going through a larger than expected bump that exceeds the trend lines without any news or fundamentals that support it. Then, when it comes back to earth, I might reenter because it’s still something I believe in for the long. If it doesn’t, I’ve realized some profits and can take more when things slow down. Bulls make money, bears make money, pigs get slaughtered. This has been a good reminder for me. * not profession financial advice. Personal amateur observations [deleted] How do you find these penny stocks? I didn't get into anything new, but I did keep buying into positions I already held. Makes getting back to green and overall profits that much sweeter." Bullish at Resistance 💰,2954,https://i.redd.it/owpqxdhbppi61.jpg,"[deleted] What programs are you using to run this type of charting? You could be watching Tai Lopez on so many screens 🥶 Nice cable management! Never in my life I’ve thought i will find something like this beautiful and here we are. Amazing dude! Beautiful setup you’ve got there! What kind of specialised equipment do you need in order to run six monitors? Do you need a beefy graphics card? And what is that device under the monitors to the right? can we appreciate how OP has hidden cords My (swing) trading setup is the Robinhood app on my phone, going on Stocktwits and counting the number of rocket emojis something has in the morning, and an iron stomach to buy or sell with no ragrets. Beautiful! Specs? Clean This picture makes my OCD happy and anxious at the same time haha What’s ur net worth? Thanks What is the profit per screen ratio? hey brother, amazing. finally have enough $ from trading profits to upgrade my trading workstation. what size monitors are these and what is the monitor arms that you are using? Sick and chic!! With so few sceens, how are you making any gains? Just analyzed those charts you have up there. Looks like you should buy some more GME and then hold it. Awesome setup!!! How many millions a week does this setup yield? I wish I knew what all of those graphs and data meant and how to profit with them. But nonetheless I shall upvote it because it looks fuckin dope. *single tear rolls down cheek* I like that desk. Care to share where you acquired such nice desk? Hi, can you share what software/trading platform/web service are you using for each monitor? YouTube channel? Great setup. Never thought of using a work top as a desk... nice! 👍 It’s gonna be even better if they make an 8K ultrawide, no more bezels. Best thing about this.... Those UK 3 pin plugs/sockets 🙌🇬🇧 Seriously tho, sweet setup 👏 Would love to know what mount you use to keep them positioned perfectly. Great setup! Amazing setup super clean - you should post this on /r/battlestations Are you consistently profitable? And more profitable than buying and holding spy or nasdaq? I saw the pic and the voice in my head immediately said “ you are now entering the trading Thunderdome” well done this setup is great My man's still rocking SLI cards in 2021 I think 6 screens are overkill. I have 5. Too much distraction. Is this really necessary?!? As a new guy, can i ask, are these screens for tracking multiple trades, or for maximum data on one trade? Like, briefly, what am i looking at here. All these does is wasting electricity ⚡️ *Drools* This is so...clean, tidy, perfect, efficient...ocd! And I want it. Do you have any supports at the middle (for the slab)? I have a similar desk setup (I used a door as surface, to get the size I wanted) and even with metal rebar on the long edge, it sags. Do you make any money? Man...I don't know how you guys do this shit. All I use is a Jigsaw DOM while sitting on the couch on my laptop. Like -- you have a Footprint Chart....but your Jigsaw dom is essentially the same thing. You've got volume profiles up....but your Jigsaw DOM already has a volume profile. You've got multiple candlestick charts up...but why do you even need them? How can you pay attention to all that stuff? Or what is even the point? The price is just going to go up and down. It's not going to do cartwheels and backflips. I'm guessing karlby countertop? That thing sagging on you at all? Just got mine up and nervous because I didnt add middle support, somewhat like yours. Happy trading Keep it up and one day you’ll be able to afford something better than IKEA! [removed] What are alllll your sites/tools you use for knowing what’s going on at all times and having insight? How do you get charts like that $PRON What do you trade and do you do it for a living? How long? I just started, finished year 1....2021 is tough! Nice setup tho. Can you tell me where you got the things to put on your Alex drawers to raise the top Get that PC off the carpet. Is that an IKEA desk cos damn that looks good Ok this is gonna be my next setup 😅 what’s the desk unit on the right called?? Nice setup! What gear you using to link all those monitors up? I would get so much done here. What'd ya use to mount all those monitors? Nice set up! Can you provide any details on what you use to mount up your screens? I have a dual mount and want to add a few monitors but can't find the right mounts that are also adjustable (I'm kinda tall so it helps if I can raise their height) Thanks! [deleted] Every 13yr olds dream pc set up.. including mine 😆 congratulations its amazing!!! Nice setup bruh 🤟 Damn that’s a nice setup This is......absolutely gorgeous. You’re missing your Reddit tab open. Where did you get the desk? I want it. Love the desk and the whole setup...looks so seamless. Fuck this is impressive. I bought a new mac mini m1 this year thinking I was going big with three screens. Damn thing caps me out at two and I'm pissed! This looks like a great set up Dude that's beautiful How so you stack to monitors? Sexy as fuck Wow setup goals! speaker and sub placement worries me, but ok Is that a custom made board? It fit perfectly on that space I love your Mic boom arm and how you have it mounted. What brand/ where’d you grab that? Nice setup. What type of notebook is that? beautiful setup, but don’t you get analysis paralysis from all this data? is it easy for you to consume and make decisions from it? Desk fits perfectly in space, screens fit perfectly on desk, clean setup. It’s an OCD dream What I think I look like when I’m charting on TradingView on my phone in bed at 3AM😂😂😂 You should consider getting the LG CX 48"" hehe I see those line breaks. You’re fucking smart, just like me. How does not every other trader use line breaks! 😍😍😍😍😍😍 Wow that is a lot of screens to monitor. I can barely keep track of one chart and one level 2 stream. love the soft background lighting. I’m getting a new computer because currently I’m using a 2007 Mac and my iPhone and both are laggy. Any recommendations? Those speakers look dope. Randy Marsh doesn’t need that many screens to blow his load on spy calls What gives? 👀 yo set up 🔥🔥🔥 Explain to me the graphs that look sideways What are the charts in the middle of each screen? I’m more impressed at the cars 👀 When ever I see setups like this with tons of data displayed all I can think is “RGB make PC go faster” Like, maybe if I had this setup I’d make more money. Clean as fuck. Nice set up! don't think you human sensory system can multi-task with six screens, even though it's fun. can imagine if you play games with that. also, do consider if you ever need so many screens, perhaps it's good time to consider using algos and bots to work for you. Nice setup Awesome setup.....very cool. If a trader wanted to mimic the setup, where did you buy your computer, desk, etc.? Looks amazing Is that all coming off two powerstrips? Living the dream, man What timeframes do you trade? I just love your set up. That's what I want to do eventually If i had 6 monitors would i be successful trader ? I’m very picky when it comes to workspace setups, but like everything is on point!! Love your setup Newbie here, can somebody explain what exactly is the benefit of reading so many graphs? Are they all related to one companies stocks or are you monitoring several stocks at once? I have been studying how to read candle graphs recently and have made minimal progress, but progress nonetheless. Now I’m looking at this picture and thinking, boy do I got a long way to go. I love your desk. Where’d you find that? Nice setup by the way. If you use hue lights, I’m usually blue in my office. How does one need this many charts at once? Nice! How did you get your volume profiles to overlap the market profiles? I've been using Sierra Chart for a few months now to trade futures and I absolutely love it. Do you trade stocks as well? If so what broker/data service are you using? I'm still using TOS for my swing trades but it has me at my wits end and I'm not sure I can stick with it much longer. Warzone FPS or ban 🤓 Nice setup. Jeez I thought I was doing something with 2 screens Do you like Playing Minecraft on at least one of those while trading ? could those hanging pictures be converted to screens, possibly to maximize the number of graphs? Mannnn, this is sexy More screens = more gainz!!!! Very clean and inspiring look. Lighting is awesome What are you using to raise the tabletop? (the cylinder thingies between the drawers and the tabletop) Why speakers dont point at you? [deleted] Beautiful setup. I have the same Kanto speakers. Shockingly good for the price. 🙌 You left a tab open on ""Pornhub"" ????? Is this a sit-stand desk!? If yes, where did you get it? I love this look and my college kid just asked for my desk. Gorgeous! Never thought about carpet being an issue. I’ll order a mount/tower raiser now I think Lol I couldn’t help but be in awe with OPs setup and then you pointed this out and now I can’t unsee. Cmon OP whacha doin!? He's trading stocks, not playing Battlefield 2, Master Yes, do that op Agreed. I had a sweet set up and the pipe burst in the wall and I'm so glad my mentor told me to never have the computer on the floor. Saved me thousands Sierra Charts, I use it mainly for orderflow, profiles, doms etc It's all about the KNOWLEDGE. Here's some knowledge: take a look in his videos sometimes... the supercars are day-rentals (keychain gives it away). The mansion was for rent long or short term as well. I came here to say this lol. Thank you 🙏 Which screen is the porn screen Looks like a mixer of some description. Probably runs that microphone and some other midi equipment through it. Keyboard or drum pad maybe Pretty sure that’s a sub for the two desktop speakers. Frankly I’m just surprised that the desk is a perfect fit. Thank you Nothing crazy, this is 2 x 1070 GTX FTW2 cards. Don’t need mega specs, additionally running 64gb ram, i9 9900k, m.2 SSD, water cooling etc. Device to right is GOXLR which I use with the Shure sm7b mic. Used for streaming, recording videos etc Simple answer is yes multiple graphics cards. GPU are scarce right now due to mining operations. Thank you This was my main goal Are you me? Good to see I post quality comments in my sleep i9 9900k 64gb ram 2 x 1070 GTX FTw2 2 x Samsung Evo m.2 1200W PSU Watercooling kit but dont ask me what, i forgot Retired before 30. LG 27UL600 27"" IPS 4K UHD FreeSync Gaming Monitors. The mount is a 6 stand HFTEK arm system. Pricey but much better than the typical pole ones you can get on eBay/Amazon. I’m not Reddit worthy enough to buy GME yet :( IKEA Kitchen worktops. I use either Karlby or Pinnarp! Alex IKEA drawer system and ebay/Amazon “stainless kitchen unit feet” (spacers) Sierra charts (top screens) mainly for orderflow, tpos, doms etc. Bottom left simply TradingView for candle stick charts. Far right is Ctrader which I use for execution. None. Not yet. Did host free training + daily war room break down but stopped with kids being at home (covid). Will resume in March Yes. And yes. Damn straight Someone is trading on their phone and outperforming this guy. Probably a lot of people are. Showing off money for no reason. You can acquire the same functionally with one monitor. Thank you. Surprisingly enough these solid worktops don't sag. I have an identical setup to this at my office which has been up for years and still no sag. My freind used a chipboard worktop and within days it was bowed in the middle. I do run a small bracket bolted into the wall though in the center, I've just hidden it so you can't see it. Answered below. But I trade forex. I chart orderflow for FX futures and base my spot fx trades from that analysis. I would be trying to do 6 pornhubs https://www.amazon.co.uk/MP260C-N-Monitor-bracket-control-monitor/dp/B01BGZRWHG https://www.amazon.co.uk/MP260C-N-Monitor-bracket-control-monitor/dp/B01BGZRWHG Fully adjustable! There is support brackets, I’ve just done a good job hiding them with the cables. This setup has been up for 9 months, no sag in worktop I love you both Yep, no reason for this at all. It is way slower to pan your head than it is to switch the content with the keyboard. It looks cool, but it’s less functional. *I just love your set* *Up. That's what I want to do* *Eventually* \- Political\_Piper --- ^(I detect haikus. And sometimes, successfully.) ^[Learn more about me.](https://www.reddit.com/r/haikusbot/) ^(Opt out of replies: ""haikusbot opt out"" | Delete my comment: ""haikusbot delete"") I love you both I use the top screens to monitor orderflow and Doms for FX Futures and then focus on use the center or right screen to execute my spot fx trades. I don't use the top screens, they are just live charts I can look up and browse especially when I'm playing xbox. At first it's analysis paralysis but I've bene doing this years so I know exactly what i'm watching. IKEA worktop. Lights on rear flick to purple but white suited a picture better ;) No comment But yes https://www.amazon.co.uk/BQLZR-Furniture-Cabinet-Adjustable-Stainless/dp/B00WWPVXK2/ref=sr_1_7?crid=CTKMKJJIM4YP&dchild=1&keywords=bqlzr+stainless+steel+kitchen+adjustable+feet&qid=1613939487&sprefix=kitchen+feet+stainless%2Caps%2C153&sr=8-7 Because I normally have headphones on Alex drawers - Pinnarp/karlby ikea worktop from IKEA, kitchen stainless feet spacers (Amazon or eBay) [deleted] You can just sit it on a board or something Made a new mount this morning for tower! No longer on carpet! Ordered 4 x 3000 rpm Noctua fans for more cooling as this sent me down the rabbit hole! How much was this set up >eddit for heads up. > >Ordered 4 x 140mm Noctua 3000 rpm fans for extra cooling Now fixed! I'm no PC builder/expert, I tried my best! [deleted] [deleted] Noob here. Is this something else than MetaTrader trading platform? Thanks! Appreciate that. I’ve been searching for a better get up. Yup. He's also a co-founder of REV, holding company that bought out Pier1 and RadioShack... oh wait. What has your p/l been like? Asking the im porn tant question All 6 when no one is at home ;) Haha - this is a pre cut IKEA kitchen worktop (Pinnarp). Comes pre cut to 2.8m. Fits like a glove, was a nightmare to lift into room without denting walls/roof > Frankly I’m just surprised that the desk is a perfect fit. Maybe he cut a slab of wood himself “Nothing crazy” *two graphics cards* *i9 processor* *64 gigs of ram* [deleted] What level Robinhood account are all those graphs unlocked? Thanks for your reply :) sounds very fancy Amazing! How much does that require? Thanks thank u - can't find hftek here in the states? I’ve been looking for a new desk and this one looks like it would do the trick. Any chance I can get measurements? Any reason you prefer ctrader? At the center, you trade 3 stocks at the time? Cool man, the set up looks like goals. And how long did is take you to become consistently profitable? I think people see the set up and your profits and assume it happened overnight... Holy crap. That's hardcore. Thanks for the link! Yes. There is a gap but admittedly not great. Just ordered a stand/mount It is also backed up against the wall, usually the power supply fan exhausts air out the back of the unit. Mine is literally on a piece of cardboard Ballpark £8-10k for the lot at the time of building. Another big reason is the amount of dust it sucks up. Went to hardware store this morning and build a mount. Now raised on floor thanks to reddit for heads up. Ordered 4 x 140mm Noctua 3000 rpm fans for extra cooling Yes. We tested jigsaw and frankly didn’t rate it. Sierra just has so much customisation once you get the basics learnt Quest trade has a web based platform and it's good their app on the phone sucks I still use MT4 and Ctrader for my trade execution but use sierra charting + tradeview for analysis + orderflow Oof All the profit went on buying this setup. Well put it this way; Euro trades put close to 6 figures in the bank this week. That’s the same setup I use to play Minecraft. Lol, glad that struck someone else funny. Literally all super overkill ahaha The mic cost more than the two graphics cards. **Honestly, I'm just a degenerate piece of sh\*t that likes wasting money.** *Plus Covid lockdown boredom and fancied a challenge for a home build.* Correct. It's a blue yeti boom. Shure SM7b Mic Blue Yeti Boom GOXLR Audacity D1 Its a bidet I think 17 [removed] Depends on how long you plan on living, where you’d like to live, and what you’d like to do with your time. Either 2.5M or 1.8M. See specs here [https://www.ikea.com/gb/en/cat/thick-veneer-worktops-46457/](https://www.ikea.com/gb/en/cat/thick-veneer-worktops-46457/) He's in UK I'd say from the switches I can see. In UK you don't have access to TD or any American brokers. Ctrader is alternative of TD or any other major broker. I didn't find ctrader that good compared to ToS and IBKR. FX Future top left right (Euro Future + Swiss future). Center is FX spot pair I’ll be trading (eurchf) for example. I've been trading full time since 2014. Blown many accounts. Tested every strategy, indicator, EA, Bot, algo, your mums sisters aunties uncles PAMM account. And nothing ever came close to just understanding the mechanics behind the market and pure chart time/trade time. Majority of guys I speak to still don't understand how the market moves, the basic mechanics, auction theory etc. I've traded from laptops away from home just as well as I can with 6 monitors. [deleted] [deleted] lol damn good thing, imagine being in the middle of a trade and that shit short circuited. Don’t forget to open it up and clean out the dust with some compressed air once every couple months. I think that’s fine. Idk why people stress over this. I get that it hinders airflow to the psu through the bottom but does it matter? My gaming computer as a kid made it like eight years sitting on carpet and never once did I clean it out. It didn’t even die I just replaced it lol All those pips hard at work. Nice, what kind of positions do you trade with to get that high returns in a week? Is that like an updog? Mother of god 😲 I’ve been trying to get to the margins bonus content but can’t get past this “checking account suitability” mini-boss Yeah, I primarily use ToS. How good do you find the executions on it? Also, any major difference between the 2 in terms of Time and Sales/ Level 2? I meant in the bottom right monitor you have 3 doms, so you are trading 3 FX at the same time? May I ask what resources you found useful to get you to where you’re at today? Did you pull from many, or was there one main source that you were able to grasp the mechanics of the market from? Probably a loaded question, but I appreciate any response. Huge fan of the desk setup. Looks awesome. That’s great to hear and congrats to you. I appreciate those who put the time and effort into their craft to achieve their goals. I feel like a lot of folks are looking for the get rich scheme and fail to appreciate the actual work (research, analysis, strategy, back testing, etc.) that it takes to become great. During the week when I’m trading I literally close everything off except charts, fxnews/ransquak. Sometimes I do suffer from analysis paralysis at which point I just walk away. Most of my positions are intraweek and I tend to spend most of my time just monitoring and adjusting as opposed to spending all day drawing on charts etc Shouldn't this have been started in a new comment thread? I mean let's keep things nice and structured, mad man.... I run 2 x 1070 GTX FTW 2 Cards (3 display ports each). Every cable has been custom-sized and made locally (Braided Display port, very sexual). No need to hide the extra cable. I had an electrician fit new power sockets behind screens so no need to run power cables to the floor. The stand was a bit pricey (HFTEK 6 mount) but in the past, I've run the tubular cheapos from ebay and find the screens end up sagging or sitting tilted. This mount has adjustments to square all screens up and sits off-set to accommodate for this. [https://www.amazon.co.uk/MP260C-N-Monitor-bracket-control-monitor/dp/B01BGZRWHG](https://www.amazon.co.uk/MP260C-N-Monitor-bracket-control-monitor/dp/B01BGZRWHG) Nvidia will let you run two graphics cards in parallel with a jumper connection between them. I presume other manufacturers will as well. You could have (8) monitors if you wanted. As for mounts: in lieu of a 6-monitor mount, you could pretty easily do 6x (1) monitor mounts. They would also give you significantly more single monitor adjustability than a (6) mount, and presumably not require a crazy amount of blocking. I only have (3) of my (6) 27"" monitors so far and I use (2) laptops docked to the bottom surface of my table. I am using a Logitech keyboard and mouse to flip between laptops. For the stand, I am using ([6 Monitor Stand](https://www.amazon.com/gp/product/B086WR9P86/ref=ppx_yo_dt_b_asin_title_o05_s00?ie=UTF8&psc=1)) and I highly recommend it. Same questions here too. I'm looking for a 6-monitor wall mount. I run an entire backup of my charting + trade terminal on a hosted VPS thats live 24/7. I can just log straight in via laptop or phone and be fully functional in seconds. I also use this for when traveling and want a central hub for all trading Glass front so I'm very aware of when it's getting dusty, she gets cleaned often! Underrated comment So whats the point of getting all the screens when you can be done with one single wide screens? Will this overwhelm you? [deleted] [https://www.amazon.co.uk/MP260C-N-Monitor-bracket-control-monitor/dp/B01BGZRWHG](https://www.amazon.co.uk/MP260C-N-Monitor-bracket-control-monitor/dp/B01BGZRWHG) You can find it via other retailers but some have it listed for like £1000+ I paid £700 iirc I possibly trade like op and would also love that setup. Probably not even out of need. Maybe even just because it's rad and justifiable because it captures your mind to earn money? I have an 8 screen set up at my office downtown. When covid hit I fancied the challenge to make a fancier version for home build and because I'm a degen piece of sh\*t that likes to waste money. https://www.reddit.com/r/deeplearning/comments/insgub/multigpu_seven_rtx_3090_workstation_possible/?utm_source=share&utm_medium=ios_app&utm_name=iossmf Hmm, this thread might give some clues? You would be running (2) GPUs in parallel. Exactly. Like I explained above. Most of my positions are intraweek, or even longer. I don't sit here crunching through charts all day, mainly monitoring (watch tower i call it) and adjusting those positions. This week I didn't plot a single chart, but managed a laddered 60 lot overall position for EURUSD and EURCHF. Extra monitors mean I don't need to keep clicking around and can just play xbox on the center screen (xbox hidden in cupboard on right) when you sit at a flight deck it gives you the chills and makes you not want to fuck up / kill people / destroy property/plane. so definitely some mental trickery / office psychology involved. but once you're aware of these things there's always ways to psych yourself into serious business & 'the zone' without them. ah I thought maybe that was the beer fridge. Spot on!" My mom’s birthday present to me! She knows I enjoy day trading,2867,https://i.redd.it/f8dyunn6b7s61.jpg,"I bought on that last green candle as is tradition. That last candle giving anxiety to anyone who looks at your shirt 😂 Higher highs higher lows 💪 What is the green for? Good support area in that last bar - probably buying. Why did they print it upside down? Happy bday bro 🔥 What's with the sweet VHS... thing... in the background?? Awwwwww go mom! coolest mom How sweet! Too much green for me. Got one cool mom Awwww, your mom’s cute! What's that green stuff? Oh fuck I like that. I might have to grab one. Know where she got it? nice, its great gift, respect [deleted] I would love shit like this but my wife literally never buys anything I’m interested in unless I tell her haha can’t say I don’t do the same though. Lol. That is a short setup. #btfd I've got the same shirt upside down though. A little bit realistic. Looks like a penis. Kinda too basic design but a nice gift So your mom support your gambling habit? How is it going up? Nice M formation here 😂 Your mom is awesome!!! That is awesome! Hahaha where can I buy this shirt? My brother would love this and so would I Where did you get this shirt?! :) I guess it came down to a choice between the t-shirt, a brothel, or a doob. Good choice ma! Happy B Day!! What are all those things between the red candles, and why is the chart upside down? Im shorting the up trend because of the bearish engulfing candle I would long that Hahaha my girlfriend got me a similar shirt for Christmas. Happy birthday man! Where can I get this shirt? All pipes! It’s my bday too! DMX and Prince Philip went out on this the day of our birth. I still haven’t got mine yet. Happy birthday Amazing! Needs more red. Love the loss at the end. Moms are the best. That last candle got me worried... Your Mom rocks 👍 Calls on that chart. Very nice channel. If you reverse it, it looks like my BB chart All you need on there is ""To the Moon"" and you straight. Proud parents always encourage their children to excel. 👏📈 Such a cute gift! Love it, want one. I wish my mom loved me... Do you also enjoy giant sized home movies with mom? Imma wear this upside down to better illustrate my portfolio during last Q Would have been better if she bought a downtrend lmao wait ... that a downward trend ... I wanna draw support/resistance lines on your shirt while youre wearin it as a covert way of stimulating your nipples. Omg I love your bed cover where can i buy it? Omg I love your bed cover where can I buy it? Mom knows whats up! Hell yeah She gave you a 3 wave up. I bought calls at middle green candle and premiums got killed. I bought middle green sold halfway red bought back in at peak green then held. If you don't sell you dont lose money Here is [source for crazy person](https://theboxtees.com/limited-edition-oo12-1) You're just doing your part This is the way. This is the way That’s where your butthole clenches Symbolic. Highs and lows, but still trending up! Definitely isn’t a picture of my positions No way, it’s falling off a cliff That doesn't look like a good long to me, I'd be going short right about there Because just like when you wanna short a stock you just flip your monitor upside down It's the right way when you look down at your chest while your wearing it...............the shirt is a symbol of perspective of how they see it vs how you see it while wearing it of course Thanks ! Bed comforter I’ll ask tomorrow - no clue Same Hardcore short. Bearish engulfing with the loss of momentum in each swing. She going down. And? Idk what kinda peens you’ve been looking at, but you might want to get that checked out! Lol I don’t remember asking for an opinion Any investment of capital is a gamble. Property, assets, or otherwise Opportunities are always there That’s how the really really smart people loose money, I hope to get there some day 😂 Shadow gang Thanks for the link. $22 USD is too much for me now... because I keep losing money. But one day I'll make a few bucks and grab it as a trophy. Who makes these and where did the deaign come from? I checked link and it seems like some bogus India scam artist ##This Is The Way Leaderboard **1.** `u/Flat-Yogurtcloset293` **475708** times. **2.** `u/max-the-dogo` **8426** times. **3.** `u/ekorbmai` **5506** times. .. **76237.** `u/mr-nefarious` **1** times. --- ^(^beep ^boop ^I ^am ^a ^bot ^and ^this ^action ^was ^performed ^automatically.) 475k you flat yogurt fuck, put your phone down and go outside. That's where you double down.......the first time. Haha. If I was going to pick a pattern for a shirt, it would be a deep cup with ONE bottom point and a very even and predictable growing candle size on the up side with 0 pullbacks. Double top Yes sir! Bullish pattern was engulfed by bearish candle, confirmation candle being the last candle signaling short momentum, selling until atleast the support from previous low. Lmaoooo I need one, Googling. Awesome thanks! You got people in the thread saying they would long that. Day trading is extra gamble comparing to other type of investment [removed] Anyone can make them. It's probably just print on demand like printful 475k?? This is the way. Followed by bearish engulfing Bro you can buy a comforter at Target. Ah. Guess it depends on your strat lol. It’s just a shirt so I didn’t look too deep into it lol Sooo you came to this sub why? Ah thank you for that makes sense, no offense to India Yes. This is the way With VHS spines on?? Shit, my hobby has been coopted by the mainstream again fuck" "+10k month. After a rough start to the year I decided to focus on ending days green over big dollar amount gains. 18/20 green days is a mental milestone that I crossed today worth more than any amount of money to me. This was a huge adjustment, helped me regain my confidence and self control!",2825,https://i.redd.it/4u1bhksazw171.jpg,"That's amazing man congrats! How much buying power do you have? [deleted] Should just take Wednesdays off. Question - Do you hold any positions overnight? Do you day trade options? What’s your position size? Congratulations on the consistency, that’s huge! That’s the problem I’m trying to fix, some Green Day’s, but some bigger sporadic red days. green is green no matter how small. way better than red no matter how small hey congrats! this looks like my calendar except I am in the live testing phase of a new strategy. It looks exactly like yours if you move the decimal place left by 3 digits :) Yo! I saw this screenshot in a trading chatroom today. Great to meet you outside of the chatroom & great work on an awesome month!! My month went very differently than yours, but I'm ready for an awesome June! Congratulations that's awesome! And I'm pretty sure that's my $10,000 that you took cuz I'm down that much for the month 😂😂🤦‍♂️🤦‍♂️🤦‍♂️ What is this trading journal you have I would love to use somthing like this Great to see the progress! As a tip, I'd suggest a day stop amount to prevent losing too much money in a single day - you stop trading once you hit that amount in red; side benefit is you will have a defined risk per trade to allow you to trade till day end. Also, the 3-strike rule could be useful. If 3 consecutive trades in a single stock are red, you don't touch that stock for the rest of the day. First off congrats!! 18/20 green days is amazing And was also wondering, I’ve seen people use this same calendar to track trades. What app is that? Very similar experience this month here, started focusing on just getting out of each day in the green instead of making up yesterdays losses or last months losses. I also had one big blowup day as well that really ruined my month when you factor compounding, but still super stoked that I am getting >75% winning trades and >80% winning days. Switching to cash trades instead of margin also helped with limiting over trading and being more selective. If I can limit the losing day amounts if not the frequency, I’ll be doing great next month. This is exactly the reason I can't wait to get my account back above 25k. Started with 30 in April of last year. Ran it up to 52k, then a slow bleed down, down, down. I made some half assed efforts and changes along the way, but I was all the way down to $4700 before I was honest with myself about the problem. Lack of self control, the need to be in a trade at all times, over trading, non-existent risk evaluation. Basically, the problem wasn't my system, my prep, or my understanding - it was just me, unable to control myself making impulsive, bad moves - especially when I was having a bad day. I got real about it, and now my biggest focus is just keeping my head right during the day. Since that change I'm back up from $4700 to $12,800 in my trading account. But damn, it's hard to profit consistently when you're restrained by the PDT rules. I lacked the patience for swing trading, but I've gotten better. Still, can't wait to get back above 25k. It'd be nice to see a trade go bad and be able to just get out of it. Do you have a max stop loss for the day? For example, if I lose X then I am done trading for the day. Also, for meme stocks it looks like if you want the big win then you must buy in low when the stock is calm and not trending. If you trade it when it is trending and already broke out then you could get smoked. You can day trade if but you must be fast and scalp quickly. Congratulations! But be careful about minimizing your losses. Your worst day was almost twice as bad as your best day was good, and it looks like your two worst days wiped out about 10 good days. That's a red flag. I had the same problem but worse and I had to walk away. But I think you've got a real shot at doing very well if you can get past that. Good luck to you! Great month. Nice work documenting everything as well, setting yourself up for success! Are you trading options or shares? Do you pay commissions? This is a great great outlook!! Thank you!! Out. Fucking. Standing. Great work. Edit: I should mention I saw your comment regarding the 26th. Biggest take away you learned from a mistake that you won’t repeat again. I took a few weeks off of trading because of work. Made one trade that went sour, cost me $65. I was/am a little bummed, but i followed a setup, waited for a good entry, just a retest didn't break through. Overall, It was my first OCO order, and it's unfortunate that it didn't go my way. Fortunately, I used my past experience to trust that a solid trade was there. Great work I had a similar month with smaller size mostly shorts. About what position sizes are you using ?! Well done. Training yourself to psychologically deal with the market in an effective way is always a good thing. Putting on a calendar to visualize is brilliant and I'll add that to my routine. One critique: Trade count on May 26, should look like May 19. A 14 trade red day is something that should have never happened. Learn to walk (not step, walk) away from trading for the day when you hit 3-5 bad trades (especially consecutive) for the day. Other than that slight adjustment, I have to say you've got a good mindset. Stick to it. Look forward to hearing of a solid month-long of green. That -4700 day. I swear every successful trader I see, they have ONE or two days like that as a single thing cutting their profits by a chunk. It's kinda funny how that little chasing a bad day psychology persists. What would you say made the biggest difference in your results? Nice! Congrats bro! What's ur account size btw? Dial down on the number of trades per day. Especially in the last week of the month. What happened to you mentally on the 25th, 26th, 27th and 28th? Chop Wednesday got ya eh.. Fucking hate Wednesdays. Nice month! Congrats 🍾🎉 Congratulations! Good on you....way to go!! You eliminate that last Wednesday and you have yourself a stellar week. No more -$5k days, my man! Nice job! This looks similar to mine but swap your 26th for today and stupidly fomo’ing AMC. That’s some great consistency! I'll take those numbers any day. Woww!! 🤩 Thanks for sharing! This is a really great way to keep track of your success and motivate yourself!! If you started with 25k and averaged daily gains of 0.5% (for context 0.5% of 25k is like 125 bucks) over a 365 day time frame (365 trading days), you'd wind up with $154,366.12 on trading day #365. If you extend that time frame to 1095 days (approx 4-5 years worth of actual trading days), you'd wind up with $5,885,415.45 on day 1095. About a million per year. I'm not oblivious to the fact that 0.5% of 1 mil is a greater amount than 0.5% of 25k, but again, it's all relative (hence the term percentage). Slow and steady wins the race (this is also how dividends make you rich - compound interest is your friend) Also, congrats on an excellent month! Great job man!! We’ll just forget about the 26th This is encouraging Imma call you Billy Joe Armstrong. So many Greendays. Congrats. Id say you are trading way too big for $40k account. You don't want to be risking 10% loss in a single day! Please train me Proud of you brother [removed] Very. Nice Looks great, congrats. Do you enter the summary manually or have a tool to consolidate? Wow thats awesome! Keep it rolling! I'm new to day trading, any advise or things I could look into? Not expecting anything just want to learn. Congrats Amazing man, congrats! I would pay someone to sit with me to teach me the plays so I could learn the motions. Have you considered tracking % gains instead of money? I can make 100% gains a day with a 100 dollar account but id prefer 10 percent with 20k one. So you’re day trading stocks with $40k but bag holding big options contracts? You posted a put position in TSLA that must be down about 50% as of today’s close if you didn’t triple down Good for you - I wish I had that kind of discipline Congrats on the success! What type of capital are you working with to accomplish these type of daily gains? Ooof. Rough day on weds! JK. Good work Nice month. Do you trade any specific setups. I used to day trade with mixed success but few years ago my job got real busy so I wasn’t able to focus. Since then I built a bot and testing different setups with it Sensie? The 4th was a good day eh. Congrats man, that's awesome! Congrats OP, consistency over profits any day. What’s your standard position size If you don’t mind my asking? Awesome! I’ve just started and have 3/4 red Congratulations What amount of capital are you working with for this? which tool/broker do you use for the above monthly view? Can you teach me how to day trade successfully? Hi, how long have you been trading and are you more of a scalper or intraday trader like 2h/4h ? are there any swing trades in those trades? CONGRATULATIONS!! 🎉🍾🎈🎊 I know it can be tough but this is super inspiring! 💫 I had a great 2020 far trading. Now I'm in a bit of a slump too. What did you do to get out of it? I mostly scalp. Also,, if you want to share, how do you determine your entries and stocks Hump daaay! Gets me every time. good stuff man couple questions if i may 1) what was your starting investment like how much did you have in your account to start off with? 2) what was your lot size's? 3) whats your risk to reward Great job Change it from $ to % helps me a lot ... Because when you do that you more focused on the performance rather than money I knew right away that was AMC. Good job on the month. Just curious, if you don’t mind sharing. Is this all stock day trading or options as well? Also if this isn’t too intrusive of a question, how much capital are you working with to have this success? What research you do while getting in ? Or its simply charts, volume? How long do you hold your position? If you do research for picking stocks everyday what do you look for? Do you follow groups, discord chats, meme stocks? When you get in a funk, walk away. Looks like you kept chasing on your biggest loss day. Nice work bro! Keep grinding and stay with your rules. Question: How many accounts you have to trade every day? Compliment: Nice job 👏👍 Congrats man could you share your strat ? What timeframes you look and how do you enter ? And how much you risk per trade Do you share your trades on tradervue? If so what’s your u/? What got you good on the 26th? Is it possible for you to share the format for this tracker That was a big loss on 26th man !! Btw vongrats Bro, congratulations. As i begin my trading journey, posts like these are an inspiration and learning. Am glad you mentioned that you had huge trading days but gave them back, so being consistent is more important to build that confidence. That is an awesome return. What happened on the 26th? Were you chasing your losses? Thanks for sharing your success. What's your strategy? I'm really stuck because I don't know where to get in or get out. How do you start with 40k account lol ?? What's the average size of each trade? What's your strategy? its amazing results whats strategy you'r use? whats leverage and shares size do you trade? Best regards How do you pick which stocks to go in on? Do you consistently trade a specific set or use algorithms to find certain criteria? What strategies have you honed in on to be your most profitable plays? Congratulations buddeh🤙🤙🤙 that's an awesome milestone to have crossed. Now it's just keeping your method going and only growing stronger from here🚀💸 Congrats! How many stock do you trade? 25% gain in month is amazing, well done! Nice gains! What platform do you use to trade? When do you take profits? Sir, how do you get good and learn day trading? I always end up losing 5-10%. Whats your strategy ?? Great stuff! Question how do you usually discover/ pick stocks to trade? Teach me Day 26 looks rough mind me asking what did you in that day? can someone tell me what software:program they used to do this on a calculator I need to learn how to do this lol great work OP. Just started looking into this subreddit and this is definitely motivation to learn more about daytrading This is awesome. How many shares do you typical use to trade? And how much upside are looking at for quick trades? 10 cent 20cent etc? Example. If I use 4000shares at $10share for a 10cent gain. I’m using $40,000 to make $400. Is that good for such a small 10 cent gain? I have no fees on ToS. I love Day Trading on Schwab! It’s afforded me to finally be self employed! This is pretty awesome, in a real account. Im still having mental issues on my paper account. What are the tickers and what did you buy/sell? Any crypto? Would you help us to know strategy you used or some other tips how we can make this happen. Thank you for sharing, i really needed this!! I ve been making big losses coz i refuse to sell when i’m =< 500, then the stock pulls back on me en i end up selling for a loss. I have made a commitment that i will sell for any green. The problem is i still have a small account thus limited trades. I trade options. I ve learned the hard way that small gains are much better than losses... I hope you didn’t day trade amc 🥴🥴🥴 Congrats, this is quite an achievement. On any given day how many different stocks are you tracking? What app is this? I almost got banned because I was considered a day trader but I didn't have the minimum $ in my account. Who knew? So you can see I'm kinda new to this... But my question is, how do you pick stocks to trade? I've been having luck going with high volume and low float. Is there anything else I should look for? I can't wait to accumulate enough so I can really day trade and not have to limit myself to different days to open and close trades.. Thanks for any advice! And great job! Damn 15 trades in one day? This is brilliant! @aonee3 how do you trade? As in, what indicators do you use and scan for stocks? How Many Hours You Invested per day My trading also changed when i started going for green days instead of making money, well done .... and good luck Not doing trades but love reading this kind of stuff. Great .. [deleted] Great work! Nicely done. Which trade strategy are you using? Cheers ! I’m a futures trader, my goal is mostly positive days. I do a trade room at 6:00am Eastern, so my members are counting on me. Good job on your success. I used to use Tradevue, I need to start that again. Wow! Congrats on the great achievement! Just started my journey and seeing a lot of red days. Hope to be able to achieve a similar record as yours soon! How does someone like myself get into day trading!? I'm very hungry to learn and start making profits. How much did you have in to start with? Thanks for this idea to put it in a calendar. Good job on this and congrats This is darn inspiring mate, hope I can get to your level of greens too! Have been trading on off the side for the past 5 years and still learning how to be a better trader with every trade. Working on discipline and journaling my trades so thank you fellow daytraders out here who recommended tradervue! Cheers to everyone out here learning and moving towards making trading a full time job. 45k loss here definitely focusing on Green Day’s is a mental stress reliever Could you tell me a bit about your routine? Like, how long do you hold, what makes you buy/Sell etc etc What platform is this? Great job! Well done! Just started my own small account ($2500). Made over $700 on Friday and then promptly lost it by over trading… doh! How do u find which stocks to trade on daily bases what app do you use for the calendar What’s the calendar you are using to keep track of your green and red days? Keep up the good work OP! what app is this? I trade with a 40k account on avg. + 4x margin buying power, but I mitigate risk by trading smaller size on riskier setups Should be margin, i have 50k of stock sitting on TOS and they gave me $160k to day trade, i can play 200 shares of tsla and make 500-600 on just a few points. Also curious on this large red day was the result of feeling fomo on GME and AMC. Staying away from meme stocks going forward. Edit: -$4700 is unacceptable, regardless of the stock being traded. So obviously I still need to practice my discipline and walk away with a max loss. I was just thinking to my self if I should do that Hey, These results are strictly day trading. I do hold stocks in a different account, but not on this one. I do not day trade options. I have 35-40k account and I usually split my position into 3 entries. Thank you! Yes we gotta learn how to keep the red days small I'm not OP but I can give you my answers. 1. No 2. Yes but only after 10a, I scalp before that. This is a big rule for me, if I trade right after the bell, its always a scalp. Yes I miss some but it'll turn quick, get profit then exit. 3. Usually a 5 contract size What I've been figuring out, quality vs quantity, its ok to miss out, have exits planned (help with avoiding early exits) I know folks say scale out, but with 5 contracts not very simple. Sometimes ill sell 4 and hold 1. Yes Thank you Dr Seuss LOL What’s the strat you are testing? :D :D Haha what’s up fellow warrior! Which trading forum? Hopefully next week we both get it! This was a tough month for most of us. Congrats to OP. This is tradervue. Worth every penny. Tradervue! Try [tradesviz.com](https://tradesviz.com) \- you way more features than most other trading journals for half the price or you can use it free (3k executions per month compared to paltry 100 or 200 trades limitations most other journals have) Thank you! App is tradervue Yes, I'd like to know to so I can track mine. Sounds so familiar, recouping mentally until I come back. Went 25k up to 45k within 1.5 months, took 2 days to blow it up. Ego/tilt got in the way. But I think to maximize daytrading a margin account is a real help with instant buying power once sell. Thank you for the input PTD applies to margin accounts only. If you are just using the cash you have in your account you can make as Many trades as you want. Thank you! Shares only I use tradestation, I made a post recently explaining my platform. It’s a 0 commission broker but it costs monthly. Commissions crush me Ty! Walking away with a max loss would be awesome. I still need practice my discipline obviously. -4700 in one day is un acceptable Looking back, it was a fair trade, my setup just didn't follow through so I'm going to look back as to what I read wrong or missed. Discipline. Nothing else really matters. All strategies work, but it’s day trading and staying green is all about discipline. That’s what I’m trying to master now. 35k - 40k. I’ve learned that’s my sweet spot. Anything over usually gets me in too big, and anything lower is just not enough gains. Imo Friday’s are worse. I’m going to try no trade Wednesdays in June Thank you! Thank you!! That would be awesome I fucked up FOMOing AMC today, too. Biggest ever loser. As long as you learn from it, you’re paying your tuition to the market. At least that’s how I’m reconciling it... [removed] There are 250 or so trading days in a year. Compounding has always fascinated me, too... but, in reality, you’ll start to see diminishing returns as you try to scale up your day trades. I get that you’re just putting it out there hypothetically, but also want to add a note for noobs to also consider they’re not going to find linear day-trading scalability using the same strategy from a $25k account all the way up to a $5MM account. For example, you’re likely to have better success getting 1,000 shares filled at your desired limit or stop than you will with 100k shares. Having been on the raw end of major slippage, it sucks. In that sense, it’s not all relative. That said, I’m all for scaling up and trying to find the max per-trade or per-day sweet spot before I start getting too deep into diminishing returns. I’m here for you Ily! I agree. Believe it or not that 10% loss consisted of 10 1% losses. Over traded. I’m working on not doing that again Excellent month! I’m still really struggling to identify good entry. Keeping my trades small until I can become consistently green. Still bleeding red most days. Do you have a YouTube channel where you discuss trading strategy? Looks awesome! Nothing wrong with the meme stocks if you play them correctly and not hope for the moon. Are you paying attention to wash sales? Done! Awesome month! Thank you I use tradervue.com Nobody daytrading does this when reporting PnL. First, daytrading doesn't scale well, so the effects of compounding--for most people--are only pronounced with small accounts. Second, your returns skew based upon how much leverage you have. I look at all those stats. That’s on a different account. I use tradestation to day trade, and td ameritrade for my swing trades. These results are from a 40k day trading account, no stocks get held over night on this account. What I did was reduce my account size and started taking trades that wouldn’t affect me emotionally. 35-40k account with 4x leverage Ty! I started in April and I had about a 20% green day rate the first month. In May I was exactly 50% red days, 50% green days. Practice and discipline. We’ll get there. When I master it my self 😂 My avg hold time is 1hr. 35–40k all month. Stocks no option Yup. That’s what I have been trying to work on. Thank you 🙏🏻 that’s the goal I do one for strictly day trades and another for swing/investments Hey, I post a lot of videos on this board you can check my post history No I don’t. I make videos and share them here once in. A while but the best way is to follow me on Twitter I give live updates @ PRFTrocket AMC GME Tradervue.com I look for chart set ups on large cap momentum stocks (bull flags) etc. and I take a trade & pray it goes my way, lol. https://www.reddit.com/r/Daytrading/comments/lu6nqt/pre_market_gap_scanner_to_help_set_up_a_daily/?utm_source=share&utm_medium=ios_app&utm_name=iossmf This post I made on I choose my stocks When you hit rock bottom, then you have no where else to go but up. This shit ain’t easy. It hard and stressful It’s all pretty much trial and error. Once you save 25k + and you’re working with your own hard earned money, you become very diligent about each trade. I went from working in Behavioral Health, to Day Trading. I’m here for you Day 26 meme stocks fucked me up Small gains add up to become big gains at the end of the month https://www.reddit.com/r/Daytrading/comments/lu6nqt/pre_market_gap_scanner_to_help_set_up_a_daily/?utm_source=share&utm_medium=ios_app&utm_name=iossmf Here is a post I did on how I find tickets to trade You can check my previous post I make videos explaining one of my strategies, subscribe to my channel I will be making more What I usually do is sell half at a quick pt. Then sell another half, then sell full. That helps me capitalize the whole move but also lock in profits incase it comes back. I did unfortunately Here’s a post I did on how I set up my scanners https://www.reddit.com/r/Daytrading/comments/lu6nqt/pre_market_gap_scanner_to_help_set_up_a_daily/?utm_source=share&utm_medium=ios_app&utm_name=iossmf Lol that’s relatively low compared to other months. Part of my trader rehabilitation has been trading less https://www.reddit.com/r/Daytrading/comments/lu6nqt/pre_market_gap_scanner_to_help_set_up_a_daily/?utm_source=share&utm_medium=ios_app&utm_name=iossmf Here’s a post I did on how to set up scanner. For intraday I use the 13 ema and vwap For daily I use 20 ema 100 sma 200 sma That’s pretty much it. I watch the volume and I don’t try to over complicate anything. 1-2 hours trading, studying and learning 24/7 Tradervue Edit: I should ask them for commissions for the amount of times I answered this question on this sub I took a paid course. Not suggesting you should, a lot of the stuff you learn on paid courses you can find on YouTube for free. But I did. 30k June’s not going so well for me either Do you trade stocks or options? do you use defined risk per trade? if so how much is your average? do you use mental or hard stops? That's how i do it too. At the beginning of the day i keep it constrained to about 250-275 shares of TSLA per trade, then as i get a better feel for the chart that day it's up to around 1000-1200 shares per trade. A measly little dollar up or down aint shit to the TSLA stock price but that's hundreds into my pocket Which broker do you use? I use margin too Not easy, especially tsla can go down 30 points like that 10 years on reddit. Happy bday! :) The apes over at r/superstonk would have your head if they knew you were daytrading GME Fomo is a rule breaker. It turns into bad trades. If amc or gme sets up again, trade it. Just follow your rules. I find meme stocks are some of the worst for daytrading, because they blow up randomly either direction when some big whales pumps or dumps it. My indicators usually work pretty well but for meme stocks theres no predicting it accurately lol The feeling of FOMO is a lot better than being red though. I’m with you. When memes are in play, I perform my worst by far Man that had burned me as well Great job for the month but yeah definitely do not daytrade stocks like GME or AMC, they are so manipulated that technical analysis and whatnot is a bad idea Judging by the date, all that loss would have been serious profit had you held. I get ya tho. This the day trade life Nice job, do you withdraw all 10k as your salary or add it to your account? Those stock a you need to wait for long red flush - should never buy when its green Am a new trader and after I stopped trading meme, i have sound some sense of consistency I saw a graph I think was from the Swingbot day trading charts showing Monday afternoons and Wednesdays were the worst times / days. Could be on to something lol. I'll have to try and find that graph. To clarify, your amount of capital is typically 40k total if you're fully sized in? I've been looking to increase size but focusing on more consistency first, but curious if you go fully in, or if you have self rule of maximum $ in one trade at a time. Nice work! Hey aonee, thanks for clarifying! And also, thanks for answering the questions posted by others, gonna start logging my trades on the TradeVue app you mentioned - looks super helpful for keeping track of how well (or bad) I mitigate my risks / control my emotions. Hope to get the level of 18/20 you are doing :) Thanks mojo! To clarify, do you scalp options before 10a, and daytrade the options after 10a if you see good setups? I have found that trading options at market open is pretty hairy. The momentum swings are good, but the inability to set proper stop losses due to larger bid asks option spreads causes some hurtful slippage. When I’m day trading / scalping options, I tend to have to close out via limits. Question, do you find yourself buying an option for scalping via limit orders? Also do you typically prefer weeklies or monthly options? Have you considered doing 0dte SPY options? Would love to hear your thoughts on this. Haha me to but be careful they don't like us talking about that around here 😂 Hi mate. I have traded solo for my entire career, could you pm me the trading chatroom you participate in? I'm interested in joining with like-minded people after a decent career of kind-of solitude! I hope so, Just reduced my risk a lot and typed up a brand new trading plan for the month. My biggest issue is discipline and following my rules. I had a really good trading day today though so the future is bright! See you in the order flow Thanks for the tip guys. I just signed up for the free account to check it out! Not seeing on iOS, Android only? Thx Thought Tradestation doesn't have monthly fee? Completely agree. And I would bet a fuck load of money that you never lose that much again. You get squared in the nose once in a day. Regroup, refocus. You get squared again in the nose same session, walk away. As much, you’ve now learned. Once again, out-fucking-standing. It’s all probability man sometimes everything’s in your favor and the trade falls through. If it’s still an overall successful strategy don’t worry too much about it. Just make sure EV is in your fsvor Noice!! 🤑 And? That doesn't change anything since it's based upon percentages.. I used 365 trading days as my example....you could do this same calculation using 250.... What's your point? You clearly don't understand the point. To clarify. Those are loose umbers to demonstrate how even a small percentage daily gain consistently can compound into great returns relatively quick. Also I day trade options so it's slightly different but your point is still accurate. I'm hoping the newer ppl focus on the fact that it's not about hitting home runs every day. It's about slow and steady. Imo at least. Couldn't agree more. That's why I said ""I'm not oblivious to the fact that .5% of 1 million is a greater amount than .5% of 25k"". If you have 29 losing days but one excellent day that makes your 30 day average of .5% then it's no different than trying to actually hit .5% daily. If that makes sense... It just seems like a strange way to report your gains. If you have 1m at your disposal, plus 10k will certainly look less impressive. Maybe perce g gains of account you are using? So do guys mostly say how much money they earned bc its more flashy? Great advice. Thanks. Hope so Lol. Well 10k a month is pretty damn good! I would love to get to that point. I’ve been trying to learn how to day trade, bought a couple books too. Any advice for a “baby investor”? For how long have you been trading before reaching this result? don’t know if you’re already consistent on a monthly basis or if this is just your first good month Wow, very nice gain. 25%+ is definitely a success. Congrats 👍🏻 Shorting? Awesome man, this is always my biggest question. Brutal I’ll be sure to take note of that for my own reference. Great numbers! Keep up with the grind! I noticed especially the past 2 weeks. We have a movement going on, I’m sure your aware of it. Thanks for the reply. Your candle time frame for intraday is 5 minutes? Ok so do you have another Part Time oder Full Time Job ? [deleted] Were the paid courses heavily expensive!? Thats helps, I've got to use my cheese burger money to build up.. lol goal is set for 1000. I did make 150 last week though staying with 200.. Stocks Think or swim.. well tos is the platform but its td ameritrade Well of course but i just don’t blindly get in tesla for the fuck of it lol.. i look for specific setups, downtrend breaks to the upside, red to green , fast pulls in vwap for a bounce, a 6 month level that alway holds, previous day close, previous day lows or highs and if it doesn’t work, i get out fast. Normally i risk $200. Lot of ways to play the stock market. Sucks that i can’t short it with equity, it says there is no stocks available. I hate buying puts. The market had his head for it and sent a message: -666... He can trade all the imaginary GME shares he wants. Lol right? Like we are not going to trade certain stocks of giant corps on moral grounds 😂🙄 TBF, you kinda deserve a massive loss if you daytrade GME. Unga bunga DoNt YoU dAy tRaDe AmC, or Gme Unga Bunga. Actually I’m from superstonk, I don’t give a shit, day traders actually help the volume and the shorts aren’t covering anyway. People who get mad about it are retarded. They shorted the float 4x over so it doesn’t matter lmao Yes im super angry😡😡😡 /s I felt the same when I was trading BTC or Crypto miner: random trend change based on whales. No more memes or over trending stocks I had big gains yesterday playing AMC, KOSS, JAN, and EXPR. Then lost half of it today playing them again lmfao I feel generally the same except for AMC, when it's going it's generally very easy to trade in my experience. I like that it's kind of thickly traded as well as it slows it down a little bit How’s that possible? If you been holding since February, it just shows retail investors know one thing. Don’t sell and hold, they stated the price was 1 cent a stock?????. Don’t be fooled or manipulated, the stock market is rigged and we’re exposing them I feel so much better now. I was thinking it was just me being bitter. What indicators do you use, if you don’t mind me asking? Thats the dumbest advice ever. Its why you dont make money. You make money on momentum. What your trying to do is scalp on a momentum play. Two different tactics and strategies. You could of made a fortune this week, if only you knew how. Keep blaming your losses on everything but yourself. Most traders I know how are proffesional traders made bank on AMC and other meme stocks this week. When they saw it breaking resistance and huge buy volume comming in. Yep, I tried trading AMC today in the Simulator and couldn't spot any setups like Bull Flag. The price action just kind of rolled up and down like waves. If only we can tell the future Ever find it? My size goes up to 160k total. On a 40k account I get 4x margin Yea, at least that's where I'm currently at in my evolution as a trader. My current weakness is finding the right ones to play on a scanner, but the options flow service I use provides alerts and the discord I'm in has folks who call out their trades. When something pops, I take a look and if I like the setup I go in and out. I trade weeklies almost exclusively and I buy the ask and sell the bid. I stay away from big spreads. And only time I set limit orders is if I identify a pattern for day trade and intend on buying at a specific s/r. The biggest thing that helps me is I close my position as soon as I see my plan was wrong. I can always get back in again. I havent considered playing any SPY options. I dont usually set stops because I babysit the trade the entire time. If its after 10a and thing aren't as volatile, and I need to step away ill either set a stop or just close my position. I trade solo too. What chatroom? I'd like to join I have an algo that is back tested with 80 percent accuracy and I’m still breaking even every day because I break the disciple rule. Same! I’m only trading the first and last 2 hours. All my losses come in between those hours but I thought it was just in my head. Its tradervue, through web browser It does if you want live data. Other wise data is delayed Thank you! It’s a screenshot from tradervue. The calendar displays dollar amount and I don’t think there’s a way to change it. Take it how you want it I’ve had bigger months, but less consistent. This is the first month where I decided that dollar amount didn’t matter and I wanted to focus on finishing the day green. It’s helped a lot to think like that small gains add up. Nope Yes I am a long time hodler in my other account. I like the stonk Edit: I also own GME too. If you go back to my previous tweets you’ll see I called this NFT play longgg before it was announced. Boom we’re rich baby! 3 mins & 10 mins No but I do have a source of passive income Lol. Every great trader has been where you are right now. Don’t worry, just keep learning. and don’t think going back to taking that YouTubers picks will help you. Gotta learn your own strategy. Like 4k How long have you been trading and how long have you been seeing this kinda monthly profit? Or is this fairly rare? What do you look for when a stock before trading it? Did you have to apply as a day trader to get the 160k margin? Yeah yeah man, every time I play those vwap or 50 ema bounce, etc... it's that time It fails, but the time im not in a position, those levels always rally..lol talk about bad luck. 😈😳 The gift that keeps on giving! Crypto miner stocks move based on crypto so sometimes the set up might be perfect but a crypto flush will cause your trade to fall apart. The only time I trade crypto miners is to the short side, their flushes seem to always be strong so it gives opportunities for some nice gains They are meant to hold, not play. There are plenty of other stocks with more common trading action to analyze and fire at. Don't fire at HODL's unless you like gambling, or HODL. Lol yeah man. Coulda helped me today on LEDS. Actually I haven't. It was on one of the trading subs I am on and I haven't seen it since. Guy tracked his algo trades. If you had 160k sitting in your account, would you trade with it or still stick to 40k + margin? Not allowed to mention it here per mods They've said everything you need to know what program it is. It's the hardest part. Let's stick to our rules together! It's the only way to make it for the long term TY 🏅⬆️ Got it. But other than live data, there's no monthly desktop platform fee or anything, right? Why don't you use percent gains is my main question? Not out to get you. Was just thinking if you are working with 100k it's a lot different than if you are working with 25k,no? How many months did it take you to get to this level of consistency? You still didn’t answered how long have you been trading Screenshot? Awesome! Thanks man! Ahh thanks for your answer About 14 months. I’ve seen big, huge, profits. But that’s not an accomplishment because I’ve given it back. What my accomplishment is here is 18/20 Green Day’s. It’s all about being consistent the dollar amount doesn’t matter. It took me a real long time to learn this, so you’ll do good if you do this from the beginning. No, its just you need to have over 25k to be able to day trade. They give you 3 times the amount you have to day trade. Cstr has been a goldmine for short position Yes I should have held. I played them like regular day trades and got stopped out for losses. Oh well, live and learn. I find LEDS very hard to trade. It gives and then takes away 2x. I could have 140k in my account, but I still choose to trade with 40k + margin. Got it, lol TV? I’m not trying to compare with any one. This is what the program looks like. I’m using a 35-40k account so it’s about 25% I personally use dollar gains because I use it as a secondary source of income. Tracking the cash flow is better than the percentages in this case, at least for me. I can do percentages for longer term growth in other accounts. For my trading account, I choose to track dollars because its the part that matters for income. Sure ❤️ Anytime ❤️ You sound like me but you’ve actually learned how to get your shit together. I’m down bad since February. About 40k down. I’m just over the PDT amount now. Pretty depressing but I gotta chip away and get back to it. Shit went south as soon as I got too loose with my strategy in terms of risk management. This is clear evidence of an epiphany in trading strategy, recognizing points of failure, and making the necessary changes. Look at the stellar results. Outstanding. You’ve just given me so much to reassess here. Thank you for the gift. Do you talk about how you accomplished so many Green Day’s? Thanks. That's generous of you to give us a short cut cheat sheet. 🤑🤑 It’s about monte carlo fluctuation. Gambling at its finest. Why trade with 4x margin if dollar amount doesnt matter? Great job man! Keep it up. Got it. Thank you. How much is the margin rate? It was super sketchy for sure today Why? I'm trying to understand the logic. Isn't there huge risk (margin call) you can avoid by using your own money? Yah I get that. Just hard to tell how much of a week you had when you don't say what you are working with. Bot remind me in 48 hours op will screen shot his holdings What size account did you start with before reaching a peak and going down 40k? Ily too I used to trade 5k daily goal. So I’ve reduced my size. And why would I use more of my own money? Makes no sense. I would trade with 10x margin if I had the opportunity but just keep my account size small. What do you mean “margin rate”? They don’t charge you anything, so for example, i have 50k in shares sitting there, so i get 160k to day trade cannot buy 120k of tsla sharsd and swing them, that becomes a margin call and if I don’t close it, they will close it for me. Now because i have 50k i can borrow up to 28k to buy options and stock to swing if want to without any issues. Now they do charge you like if you borrow, i think last time i asked, it was like 3-4 dollars a day for 10-12k something like that but only if you swing. Now, no penny stocks.. Because I would rather invest my own money somewhere else if I could. My trades last avg an hour, you don’t get margin called for trades you don’t hold over night. The risk is not what you are making it out to be, it’s actually less because most brokers don’t even give you 4x leverage on highly volatile stocks that can flush and make you lose your all your money. I don’t let the account get more than 40k it’s just what I’ve learned to be the sweet spot in my trading. When the size of my trades gets too big I tend to make mistakes, this way I trade with no emotions. If they are just over the PDT amount that would imply they were at 65-70K before Started with 40k. Went up to 60k now down 40k Lol too much [deleted] But if you hold your position in tsla for 120k you are borrowing 70k and have to pay the margin rate established for the broker. No? I hear you there. I bet it gets better over time. I'm the same way with 20k lol. I've found that my TA is only 30 percent of the game Before that So you didnt really lose any of your money just the profit im guessing? Yes! But the funds are for day trading only, they will close your position if you don’t do it, never done this before, defeats the purpose of day trading. Yea pretty much Ok thanks. I have no idea because I day trade in cash only. This is generally a false statement, ive held for as long as two weeks margined out to 3x my account value with no issues. Depending on the brokerage there may be a policy that you can't hold overnight, but since brokerages make a fair amount of money on people paying that 8% annual interest on margin, i kinda doubt they would margin call you the next day. They can however arbitrarily assign a due date (margin call) at any point they choose, though the general understanding is that, for the most part, it's kinda part of the point that they wont do this. Unless of course the stock in question sank in value by a lot, then they would issue a margin call the next business day (usually you have 3 days to pay up). ""Ghost"" margin calls happen all the time: when you take a break long enough for funds to settle, they go from type 2 (marginable) to type 1 (cash in a money market). You can still make normal margined purchases, but the system can think you owe bundles of cash because it doesnt see any type 2 funds present. It goes away the next day even if you don't sell up by closing bell, because by then, the system updates the relevant portion of your funds back to type 2 They don't close your position, you just end up paying 9% yearly interest. I've held stuff on margins for months - you just pay fees So if I do exactly the opposite of you, I’d be up 40k right now? Mr Reverse Guru, show me not the ways!!! Well i’ve never hold anything over night, this is what they tell me when i call and i guess this is what they want for us to do to minimize their risk. I made the mistake of trying to learn options/ leaps and bought in right at the end of the bull run for EVs. Theta decay destroyed the value of the contracts. I made crazy profit with shares, then leveraged with options which ended up all being major losses. Wiping away a shit load of profits They could care less there making money off you on interest..this is how they stay in business. I guess you are right" Did someone say 'workstation pic'?,2786,https://i.redd.it/j38l2prf7in61.jpg,"This is a *great* post and we're not removing any old trading station posts. But any *new* submissions must be posted in the new (stickied) post for submitting your trading station. [https://www.reddit.com/r/Daytrading/comments/m71gsb/rdaytradings\_monthly\_post\_your\_setup\_thread\_march/](https://www.reddit.com/r/Daytrading/comments/m71gsb/rdaytradings_monthly_post_your_setup_thread_march/) Do you record original scores for each stock in your portfolio? How does the transition from that mat not drive you insane. Do the little knobs and dials on the right make the stocks go up and down at the right times? Producer/musician and a trader ? 2011: People trade with their PC and get distracted with their phones. 2021: People trade with their phones and get distracted with their PCs. I'm looking all over your setup and I don't see a TR-808 anywhere! I cringe at the PC on carpet. Nice setup btw. Are you trading with a midi controller? That's an interesting idea. That’s a lot of gear to reproduce the opening and closing bell of the trading day... I do the exact same. Got Ableton open on one screen and my broker on others. I can’t take a picture of my phone with my phone. Nice, maybe stream a work day sometime. Ah, the Strymon Big Sky and a Roland. A combination that has never failed to impress. I love the rest of the setup two, those two just caught my eye as I’ve owned them in the past. I see strymon.. I upvote [deleted] tight, tight What is the device furthest right on the top rack? You are living my dream...how did you do it?! Where is the drum set! How did you get into my dreams? My guy. I trade and produce music as well. Nice setup Now we're talkin' Beautiful setup, just need a Moog! Jammin and slammin tendies at the same time *drooling Carpet? A chair with small wheels? Good luck Goat Very nice. Looks like a house/techno setup? I hope you play the ditty from Strange Brew whenever you make a trade :) I'm curious i always see these giant music set ups but no info on what they make, what music you making? That’s hot. I’ve got a few synths but more guitars surrounding my setup. I’ve often thought about the NDLR, how do you like it? Yinz are too cool for me Can you make music based on an elliot wave chart patternof all the meme stocks? I guess you could say, things are getting serious. Samsung monitor? haha we have the same pc case, best case I ever bought but it weighs a ton! what monitor Is that? me likey I love the blofeld! Do you have anything online? Good to see another producer/trader. Where the tracks at?? Damn dude, drop that soundcloud OB-6!!! I have the keyboard unit. best synth ever Eeew only 1 monitor... god. How is your chair mat so smoll? Don't you run into the carpet all the time? Love the setup but the shagpile carpet I can leave You’ve done well son. always wanted that big sky reverb Wall Street beats Do you have a SoundCloud/Spotify? Are those fancy knobs what you use to tweak your indicators? Is the left side of the desk in front of the monitor where you do the coke? I'm just assuming given the music and trading view on the monitor. You must be successful trader as yout music gear doesn't look cheap :). Nice setup Nicely done sir! Fucking jealous mate. This is a goal. Tweakin the cashflow Buying puts with an Obie is probably tough, but I'll bet once you throw those filters on it those contracts are fucking sweet. Thanks you for having clean cable management When the stocks have too much drip this some next level shit Can you make a song using candles of a trade you made? Up high is high tune. Down low is low tune. And so on xD So that’s how you make stonks go brrrrrrrrr What does your wife's boyfriend think? I bet he rubs his balls on the keyboard I got the same monitor and love it but it just takes up sooo much depth on the desk because of the mount. Going to need to wall mount it or get a new desk. Well shit 😐 bad ass If you don’t mind me asking, what stands do you use to create the second-tier on your synth table? Picturing you playing Phantom of the Opera like a madman while you trade $NIO That’s...extra. Man, I need to come jam with you. Lol U like electronic music, I can tell because I also like electronic music and envy your synths Where does Chewbacca sit? my wiener has a boner Day jamming Trading or making music which one... Nice one [deleted] I have that same chair!!! Wow you have my ideal set up basically lol Congrats and fuck you!! Edit: nice cable management. Found the Renaissance person! ""I take the money from my synthwave album revenue and immediately reinvest in meme stocks"" I love your setup, that's goals 🔥 Mixin fresh ass beats on Cakewalk while selling some chump your shares just before they dip down into the cloud.. Brillynt! Oh come on yall. Stop being so rich with your twenty five monitors and golden toilet seats goddammit. Off to cook myself some ramen. I hate you right now!!! I just have my Turntables because I just moved to Vegas but can’t wait to get it all set up. This looks like you like to enjoy life and spend your money. I wish I was like this 😓 wow, so cool Fellow abletonian and daytradian! Nice setup fam. Love the Push myself. What synthesizers are that? Wowewww Trader by day Dj by night. Stockman.. i wonder what the electricity bill looks like 🤔🤲💎 Dang, nice chair mat. The unexpected: Each piano key is hard wired to buy/sell a single stock. Stop it, I can only get so hard. Yooooooooo my dude coming in with the heat right here. The audio side is gorgeous man. jesus fuck HELLO!!! we have the same monitors What’s the one on the bottom rack far left? Dude I applaud that synth setup. Kudos. Shooot nice! Although is your computer on straight carpet? Crispy! ID on the table and whatever you’re using to mount all the synths? Looks cleeean. Where them beats at?? You got anything on the web for the ppl? So... what's your DJ name? Is that a Pax? Looks a lot like my husband’s office, but his setup is parallel. How do you like the Push ? He got his in late 2019 and loves it BTW, you should get onto SoundCloud (free version to start)... anything you publish is automatically copy written so you don’t need to send it in to the office... somehow we managed to actually get my husband’s music on several platforms and available on Amazon... one of his songs has earned 2ć royalty this year (next to nothing, but since it’s the first time, it’s kinda cool)... I told him we need to publish all of his songs to see what happens Unrelated to day trading- did you do anything for acoustic treatment/sound dampening? Seems like your monitors being that close to the corner would give some nasty distortion/reverberations I’d love to hear some of your music. Nice synths! Your mom must be nice to let you have this in her basement. Nice setup my dude Nowww we talking boiiii. I’m going to be doing the same thing once I make a few bucks. Expensive-ass Moog of my dreams here we come!!! The stocmanipulator 30000 That‘s‘s my dream right there! To have my trading setup AND my music studio! It looks amazing!!! You have a list of your music studio setup? Now to spend those profits on some proper acoustic room treatment.... Nice cable management ...seriously It's a security system. To order a stock you must use the sound mixing board in a specific way to make sure that the correct stock/strike/etc are used. Very impressive. How can you possibly trade with that sub woofer? Where's the toilet? Ableton Push? Nice Ableton? What software are you using to trade? Only 1 monitor? Oh my.. I use my home studio to trade also, but my music gear is a bit distracting. Not that I have this much hardware. This is sick. Some goals right here. Korg, brah I have that exact same chair! love it Turn up the sound on AMC pls Bro you’re literally living my dream 😅 Nice!!! Let’s make a song No. But that's very nice, thank you That rats nest of wires in the corner lol.🐀 Is that a 38inch monitor? My man Woah!!!! I swear every stock trader makes music. Instead of flipping dime bags they swinging penny stocks now 2021 Could watch some super high definition porn on that pc Oh you too? Oh christ dude thats a sweet set up....*drools* Oh and also FU. Did I mention FU? Is that one of those glass chair mats? How do you like it? I’m also a musician and planning to do the same kind of set up (less electronic instruments for me though lol). Daytrade all morning, rock n roll all night Very nice! This looks almost like my setup. When making music on soundcloud doesn't pay your bills LFG I like your audio equipment, production is a passion of mine. Yeah i put market orders through my MIDI keyboard too where's the swarmatron? I see strymon, I see man with hope BigSkyBaby!! Like idea of the keyboard to keep you from going crazy when you are waiting on a position to move or become a viable buy. I stopped day trading as I would need to walk away for a break and then a move or opportunity would happen lol. I’m ok with LT or LT swings now. But miss day trading if I had something to keep me occupied while waiting. Now that’s dope, a work station that does double work. Nice one champ someone else who's a producer/trader !! This is clean af. What’s with guys posting gaming/music rigs pretending they were built for trading? I want to see trading rigs. Not your studio man. Cool set up tho. Can't edit my post but wanted to say thank you for all the kind words and awards too! That's awesome and much appreciated! The setup took a while to build, slowly over time. But I've always been into synths and music going back to middle school. The area is mostly used for my day job (UX research) and day trading, which I treat like a second job not a hobby. It's also great for gaming and most games look amazing on the G9. Still rocking a 2080ti tho...just waiting for the 3090 Hydro Copper FTW3 to exist so I can ""finish"" this setup. Off to the side I have a dedicated simpit for racing/flying/space games. [http://imgur.com/gallery/OWITyb9](http://imgur.com/gallery/OWITyb9) But that's for another thread in a different sub. Another loser posting some other workstation as if it's for day trading. All that amazing equipment on cheap looking ikea desks...kind of cringe if you ask me. No no one said it but thx for sharing Work station pic I can’t take a picture of my phone with my phone🤷‍♂️ Okay. This is just getting ridiculous. This sub is turning into r/battlestations How do u trade using a keyboard? Nice setup! Good for music production / trading / gaming / streaming... what do you think the total cost was roughly? Best of both worlds, that’s some serious production gear right there! My two biggest obsessions in one photo. you and I would get along How do I take a picture of my phone? 🤣 This kinda gave me an idea that maybe plug ins and such could be turned into NFTs and possibly a coin itself for different midi functions, just crazy spitballing idk. Ur patch panel. Is on rug. I have static in my attic at that. Was hoping to see the morsel on lower left was Mackie. With this much gear I hope you've got a power conditioner and fat battery backup. Tech power makes gear mysteriously last longer and crash seldom. Your grey walls are making me homesick for 90's Avid edit bays... Where can I find that monitor? So, you make a dope drum loop on your Roland when you get a profit? This legend is light years ahead of us!!! Is that the batman secret lab chair? Because I'm sitting in one rn and it looks like a batman secret lab chair Phil SPACtor I’m assuming the setup on the right is to track wave frequencies to get the Best Buy/Sell signals. Mostly they would be very sad songs. I have wondered if I could convert a couple indicator plots to audio tho. Okay, I'll submit. This one tickled me. Nah, man ain't sitting whilst making beats! I have more tempered glass mats now, joined together. This was just trying one out to see how it held up. While I know you’re making a joke turning a nob up and down is literally how i visualise the market makers manipulating the market and it helps me to win well, it *is* all just signal processing at heart, reverb = convolution etc Nah man he's a photographer of workstations My 2 passions. Trading and making music. Beautiful set up. I swear I have seen 5+ trade work stations include music production equipment these last few weeks... am I missing something? And gamer! And somewhere in there is a day job. That’s what I am! We gotta pay for all our music gear somehow. That shit isn’t cheap. This is the way. No fear, an 808 is buried inside the TR8S along with many others! I would have loved to show off all my custom hard line work in the pc by placing it all on the desk but it is huge! That case is huuuuge! Maybe one day I will wall mount it, but I also like having things easy to get to because I am always modding. I did try an Xbox controller once. Made me nervous playing games later tho. It's all in the reverb! I doth the exact same. Did get ableton ope on one screen and mine own broker on others *** ^(I am a bot and I swapp'd some of thy words with Shakespeare words.) Commands: `!ShakespeareInsult`, `!fordo`, `!optout` I love Ableton! Have you tried 11 yet? Probably not difficult. It’s an Dave Smith Instruments OB-6 Module Trade moneys for more moneys, add wires. Holding one bitcoin to now would buy all of it and more. They folded it all up into one of those little boxes! Well first, I Got Outta Your Car... Thanks! In this photo there is one small piece of tempered glass under the chair. Now I have multiple pieces joined together. It's awesome! You were right tho...it took me about a week to get fed up with the carpet. Plus I didn't want to tear up the carpet. Thanks!! Pretty much. Most of the stuff I play would probably have you spacing out or napping rather than stomping a dance floor tho. Mostly ambient, Blade Runner kind of stuff. It's just for relaxing, just for me. I love my NDLR. It really helps speed things up and maintain a smooth flow. It is SO powerful and does so much stuff. I have one of the first versions and it has held up great other than the letters kind of fading a bit. Combine a NDLR with Scaler 2 and point it all at a couple synths and it gets fun quick! Point it at wsb stocks and it probably sounds like a Skrillex song Yes G9 49"". And I still feel like I could easily consume a second one with more charts! Samsung G9! And yes I love this case. As others pointed out it is a shame it is hidden on the floor but it's just too much of a monster to be up on the desk. Thanks! The Blofeld is my favorite (next to the Iridium, once it finally arrived). Mostly I just play for me. I'm not the music sharing type. It's more of a zen activity. Here you go http://imgur.com/gallery/OWITyb9 No worries, on the other side of the room is a full simpit with projector and a third monitor as well! But a second G9 would be nice... That was just a test. I have 3 mats joined together now. It's great! I love tempered glass! Worth every penny! It’s ok, I prefer to use the app to control it, but it can be a pain to setup. No usb so you have to do it through midi. No, too shy. I just play for me (and sometimes my daughter) How well my indicators perform during the day determines how much knob twisting I do at night! It's the 2020s...I have a badder plate. The 80s are gone. But good call! Also, I'm not a cat! I let him twist my knobs It looks easy enough to wall mount. Only a few mounts out there I would trust tho, so far. It's a combination of two stands, an Ultimate Support at the bottom, and an Amazon Basics laptop stand sits on that. Right here http://imgur.com/gallery/OWITyb9 Just keep trading! It's the best! I practically live in this thing! Thanks! I might let your wife's boy toy touch it! I love you both Thank you! Ramen...with a side of caviar? The setting up is fun tho. Enjoy it! 90% of the music stuff is used. I like saving money too! Thanks! Iridium, Peak, OB6, Blofeld, TR8S on drums, Bigsky and Echosystem pedals, a NDLR, and incoming soon is a T1 and hoping to add a TI2 to the band this year. Not as bad as when I used to mine crypto with 8 1080ti's. Except during winter. Saved a ton during winter. Thanks! Tis my newest band member, the Waldorf Iridium. Still learning it but it's actually pretty easy to figure out. Thank you! That case has substantial feet. I built a dual radiator hard line cooling loop on the cpu and gpu. Hottest temps in CoD at full tilt (or backtesting) is 65C. Idles at 25C. Thx! Thanks! Table is from Wayfair. And I'm just stacking laptop mounts in top of synth desk stands, all from Amazon. Nah I just play for me and now my daughter joins once in a while to listen. Ive never uploaded anything. How about DJ MACD? Indeed! I love it! It makes working with the TR8S much more fun. I'll check it out! Have some pads just haven't put them up yet. Still sorting out wall art. If she were still around she would not like most of it but she would be happy I'm happy. And I wish we had basements here! I would indeed be in it. Instead, living at sea level, I am above the garage. Thanks! I have some wall pads just haven't put them up yet. But true! Thanks! That means a lot! I love doing wiring! I plan to further conceal soon. I have be careful not to overdrive my puts I have a jar 11! Thinkorswim mostly. NinjaTrader for experimenting with backtests. Starting to mess with Quantconnect and Td API now. The others... http://imgur.com/gallery/OWITyb9 Sold my Electribe that I had for years. Kinda miss it. It's not so bad. And hidden now. Alternative is a warehouse of a hamsters running in wheels. 49! Love it! Added a couple more to fill the space for both desks Post a link! Thanks! It's called multitalentism. One out of 100,000 are born with it. They're not pretending anything. This is their ""workstation"". Correct me if I'm wrong but day trading isn't something you necessarily do all day long. Seems like a smart investment to make your trading rig work for you in more ways than one. Best believe I'm logging out and playing around with my looper for the next 6 hours once I make my $200 or whatever for the day. I got them from wayfair. They do the job. You should have seen my previous setup! I had an old wood slab laid on top of a keyboard stand to make a shelf. Got tired of my neck and back killing me. Happy to!! Melodically Thanks! And no idea at this point. Built up over time, some parts new, some used. Better not think about it! 🤣 Have a conditioner on the line to the house. And I'm not that worried about static. But if it makes you feel better I am building a box that will hold, conceal, and protect all of the wiring on the floor and give me a place to cleanly mount the patch. No Batman edition that I know of. Just a Titan. I can hear the slide flute now! Ur not the dude that made that cringey gme rap are u? Your ocd rages all the time huh [deleted] (turns GME knob to 11) I like this That sums up the majority of posters on r/synthesizers Lolllll Hilarious! Mine too trade by day make sick beats by night. I trade and have a bunch of music equipment, but I don't post it on reddit. Too risky. Someone might ask to hear some of my music (which doesn't exist). Makes sense to me. I have this sort of setup too. The music stuff is fun to mess with, I don’t really make any music or have any ambition to but the toys are fun. Once the market goes bear go play with the toys and when the market is banging play with the crypto and the stonks. You gotta be creative to be a trader, so traders usually have other hobbies where they express and release the creativity inside them. Making beats/creating music is one you‘ll find in a lot of traders. It’s not the same :-) How close does it sound to an original? You can put it on like a yoga mat or spare bits of laminate flooring Oh shit I just purchased 1000 shares of AMC😂🤣 Yup, like the new spectral resonator! Not at all! Yes! Happy cake day! and into my house. Anything I can listen to? You on Spotify, SoundCloud, etc? thanks for the name just read up the specs and i likey even more but ima have to save a pretty penny for it. I ended up buying a dolly for my case to help cooling and allow me to get the behemoth out when I need to I highly recomend the same to anyone with any case thats otherwise on the floor a total game changer. my absolute favourite part of this case is its panel. jfc what don't you have? A day job? Color me green with envy! Thanks! One room make tunes other room fire drone strikes [deleted] Oh man!!! Imma askem all about it when he gets home and kicks me out the bed!! Shit what a dream. I’d love to have an OB6 and TR8S The green wave table looks a lot like serum. That’s super cool!! Super nice setup! I’d be worried about static shock being built up from the carpet. You can always put something underneath like laminate flooring, something of that nature. Don’t want anything screwing with that beaut! But if you aren’t worried more power to ya 🍻 Whoops missed the part where you said it has legs haha good job OP. I’m just a worry wort I guess Dope! How do you like the big sky? Thats crazy. Ppl like you are an inspiration and frustration. I wish I had all that equipment but gotta catch these pips first. I been making music for a while (10 years) n just have a maschine n midi keyboard. Just started trading though so hopefully next year I got a nice desk. Got a 3 year music licensing deal in the meantime Nice! Also nice setup! 😂 What brand? Looking to finish up my home rig- trying not to spend all of my money....would prefer to throw that away on something like $GME (kidding) Sorry to hear about your mom dude and.. I'd much rather be in a garage than my basement.... My wife says the garage is for the carrrr... Stupid Canadian winters. Get yourself SonarWorks as well you’ve doshed out on a lot of fun gear to use, may as well hear it as best as possible. Cheapest way to improve a room’s sound after some basic room treatment. Oh shit aright now thats a setup lol Nice! I’ve been eyeing one of those and a nice Herman Miller chair. Time to be nice to my back! Trading rig used for trading. Not more gaming or music than trading. Than it’s a gaming or music rig. This one post says workstation but many others pretend to be for trading when they were built for other purposes. Do you see the point. Definitely looks like you could use more space on the desk area itself, a wider place to slide your chair around, and a really nice comfy leather chair. The feeling of spreading out amidst all your glory is a fine one. I ordered a YAMASORO High Back Leather Office Chair Adjustable Tilt Angle and Flip-up Arms Executive Computer Desk Chair Thick Padding for Comfort and Ergonomic Design for Lumbar Support Brown from Amazon last month, and it's darn comfy and gives the office space a more kingly feel. Def rec. ;-) especially all the music gear can add up, isn't it... Yes and I wish you many happy hours in that room! And if it's getting lowwweerrrr...and saaadddderrrr...flatten out! (Or time for puts...) No. When I play, I play to forget. Trade by early morning, make sick beats by brunch. And trade the money from said sick beats Gotta keep oneself busy while the wife’s boyfriend is fucking her, amirite? 🤷🏽‍♂️😎 I try to release the creativity from inside me at least three times a day. And once in a while I play after trading. It's really great. I was between the TR8S and the Behringer and the Roland, despite it's Rolandesque poor usability, had more. Just lots and lots more. It was twice the price but has 5x the capability out of the box, IMHO. Close enough to not be worth the $5000 USD for an 808 The carpet isn't too thick. I have it all set up so that once all the connections are removed it just slides straight out. Most times though I can do what I need with it in place because the case is very accessible with the glass opened. Nah, I just play for myself or my daughter when she's interested. Thank you! Love it! Very easy to use. It's an addiction. All of it. No turning back now. You are trading so you have the keys in hand. There's free money in those digital pipes! And if you've got a regular thing too, all the better. Congrats on the 3 year deal too! That's huge! Thanks! It's a Primacoustic kit. Just flat black panels. I didn't want the NASA stress room pointy foam, as fun as that may be. Thanks I'll check it out! Exactly that's what I think you're missing. Im not trying to be snarky but he said it's his workstation. The point is it's not a purpose built trading rig it's a rig tailored to OPs passions, interests, and hobbies; one of which happens to be day trading. Maybe I'm a bit biased because I'm into music too and was pretty enthused seeing all their kit, but it seems kind of silly to me to expect people to be so one dimensional. Edit: this was a reply to your original comment not too sure how it jives with this one I just got this chair a few months ago from Secretlab and love it. It is way comfy, reclines, etc. Best chair I've ever had. But I'll take a look for sure. This one will wear out one day! Thanks! Maybe just one of those hospital beeper things when someone dies That’s healthier than drinking! This user trades I feel you. Besides trading, nothing makes me happier than making beats or djing! I wanna get the Maschine or the Ableton Push so I can produce on the fly now 😎🔊 I used to release creativity a few times a day as well. Once married, it became a few times a month Let me just say this. If your shares of GME moons, I will expect to see a legit TR-808 in your lineup soon. I think you can get one right now off reverb for about $6000 to $7000 :) Please don't slide the PC on ANY thickness of carpet Well good to know the drive doesn't go away. Thank you sire! I shall play my way to the money bag lol. And congrats on financial and creative freedom!! That's like its own 1% lol And I do see your point I just don't think it has any merit. Just because something looks like a ""trading rig"" doesn't mean Trades McGee isn't spending 8 hours a day playing minesweeper but dragging the window out to cover their 6 monitors for total minesweeping immersion. Hospital beeper things>heart rate monitor There is something about working with sound waves and then looking at the price movement as waves, flows, tides etc I had my hands on an original 303 a few years back. But, tbh, they are a pita to use. Kinda wish I'd held onto it for collector's value but I find I have hard time doing that. Been doing this for over 30 years. Build everything myself. I know how to ground out my work area when needed. But I appreciate the sentiment of concern. Wouldn't want anything to happen to the expensive glowing box! /r/ would be more appropriate. Purpose built. This is a studio, like I said it’s cool but I think everyone needs to chill out labelling their (non-purpose built for trading) rigs as daytrading rigs. There is a difference. Trading on your home computer for a bit a days makes it’s a ‘day trading rig’ sure. But is it really a rig for day trading or a computer/setup used mostly for another purpose? No fight just tired of mislabeling man. No one is questioning your build quality. Simply providing advice. Word I get your frustration. But i know from experience that negativity hurts. Dude was just trying to share a sweet rig that he day trades with. I get where you're coming from though, but I don't think op is the one. And I appreciated it! No negativity, I like the setup. But posting it on a daytrading subreddit calling it a workstation doesn’t make sense to me. It’s obviously built for music work. You can day trade on a flip phone. Doesn’t mean it’s a trading rig. I agree with you." I have created a chart pattern booklet for us noobs!,2675,https://www.reddit.com/r/Daytrading/comments/lgb4ct/i_have_created_a_chart_pattern_booklet_for_us/,"u/SkinnyJimmyuk so now I'm noticing that the ascending/descending triangle should both be classified as bilateral (black title). And the falling wedge you depicted in the pdf is not bilateral but bullish continuation. Basically, all the triangles are bilateral, sure a lot of people say they're directional and continuation patterns, but in my experience they fail often. It's best to wait for a high volume breakout for ascending and breakdown for descending, but as a reversal you should wait for a high volume to break the previous low (ascending) or high (descending), [best explained here.](https://www.tradingview.com/chart/BTCUSDT/vYen5wAu-Ascending-Triangle-as-Continuation-and-Bilateral-pattern/). I would say for beginners to **avoid triangles all together.** It's not normal for price to keep facing resistance at the same exact price as before unless there's some kind of manipulation or whale selling/buying at those price points, so you're gonna get recked if you're wrong. And when it's symmetrical, it's even more confusing, so honestly fuck that. As for the wedges, the rising wedge is almost always bearish, and bullish when falling, doesn't matter the previous direction. See here for [rising wedge.](https://school.stockcharts.com/doku.php?id=chart_analysis:chart_patterns:rising_wedge_reversal) [We have this handy chart in the sidebar for comparison.](https://i.redd.it/u7pxhg28lszy.png) Btw I like that you added some candle patterns and cup & handle pattern too. Edit, making this a sticky comment so users know that triangles won't trade the way you expect them to. Dam nearly up voted this because I thought you said a booklet of boobs 🤔 This is really a great resource. Thank you for your work on this! This is awesome! May I asked where you sourced ur info? Are you an experienced trader? This is really helpful, just downloaded it to study tomorrow! Great work. Man this is useful af, thanks a bunch. I'm too poor for awards, but you can have this 🏅?? You are the real mvp You may like Bulkowski's site: http://thepatternsite.com/chartpatterns.html Ugly site but useful for finding more info (and many variations) on chart patterns, like success/failure rates, how to trade them, etc. I love you Thank you for this. You can use these for additional conformation of a trade but they are not enough to trade on there own. [deleted] This is great - many thanks 🙏 Thank you this is very nice and concise. Just starting out as well. This is great and I love the simple design. Downloaded to my day trading Drive folder for reference. Thanks! From what I’ve read. In modern times now, candlestick charts are nonsense, equivalent to reading tea leaves. You can alway draw lines in hindsight. will take a look at it. good job. Thank you again! This is super helpful. Whoa this is awesome!!! Thank you again!! This is really useful, thanks for sharing. Very much a noob myself and I'm wondering, do some of these patterns sometimes play out over longer periods or would you only expect to see them in the short term? For example do you sometimes see fractal patterns emerging where some of these shapes appear over a day, but can also appear at a larger scale over a month or a quarter? This really helped! Thanks !!! Thanks this is great!! Thanks so much for this! I'm not a new trader but definitely not a pro either, this is a great tool 👍 Thank you! very helpful Thank you! What range of time to these apply to? I never know how far to go back (penny stocks) thank you!! Thank you! I was wishing I had something like this today actually! 😁 Thank you for your work on this! This is amazing! This is fantastic. Thank you. Definitely will be bookmarking this. Thanks Super helpful I appreciate it. Really appreciate your effort on this! Thank you freind :) This is great! Thanks for putting this together! Nice work! Awesome! Good man/woman/they. Well done mate This. Is. Beautiful. And much appreciated. ✨ Thank you! Really appreciate you taking the time to do this. Its a great reference guide. Super helpful Thanks for helping my noob ass <3 Thank you! Looking forward for other resources! Thanks, appreciate the work you put in Great help for a noob like me :) Thank you can't wait to dive in this is really amazing! thank you for taking the time to do this. This makes my brain hurt but thank you for making it! I really appreciate this as a noob Thank you! Wow this is fantastic. thanks. Good job dude. Dope thanks! As a young lad and someone who is in my trading infancy, this will help a bunch, thank you very much. 👍 Nice work! This is a great piece of easily accessible information. Way to look out for everyone. You da man! Pretty good! Thank you!! Thanks!!! It’s a great reference ! Well damn... thanks again. Seriously grateful. Now if you could do one on these things called “stocks”... that’d be great. Thank you, i have always struggled in differentiating between multiple patterns and this will help a lot. This is awesome, thanks! Thanks for this buddy!!! It is much appreciated from a noob like myself trying to get Into this game!!!! As a noob.. thank you This is a game changer! This is fantastic thanks! This is so good!!!! Oh this is awesome well done Awesome thanks for the hard work Awesome Thank you for this, this is great you're the best! Thanks man! Compare the Bear Flag to the GME pattern and bam....looks like a mountain formation in Utah or someshit lol This is awesome. Thanks! Bless you kind soul! Yo this is amazing! Thanks! Do you know about the 3 bar play? Thanks! Thanks! Very useful indeed! Thank you for sharing! Thank you for this. I’m purely off the cuff trading right now and want to get more technical. This is where I’ll start unless someone else has some advice to throw at me 😆 just one thing i'd point out - your flags are pennants. flags have a range-bound consolidation prior to breakout but can non-zero slope and are more or less parallel. clearly converging are pennants. Fabulous work! This deserves 100k upvotes really Did you make a printable version of the glossery by any chance? Thank you!!! This was very informative, I see ITRM looking like a rounding bottom 😁 Thanks! Sharing I'm a bot, *bleep*, *bloop*. Someone has linked to this thread from another place on reddit: - [/r/chartingtastocks] [u\/SkinnyJimmyuk Chart Patterns explained](https://www.reddit.com/r/ChartingTAstocks/comments/lgnq3n/uskinnyjimmyuk_chart_patterns_explained/)  *^(If you follow any of the above links, please respect the rules of reddit and don't vote in the other threads.) ^\([Info](/r/TotesMessenger) ^/ ^[Contact](/message/compose?to=/r/TotesMessenger))* Thank you Just decided I was going to learn some TA. Perfect timing Thank you sir I read your last piece and it really helped me understand some of the terminology thrown around here. Thank you so much for doing these! Very much appreciated ,you’re a ⭐️ Saving this bad boy To those who would like an in-depth book on chart analysis that covers several of these patterns check out *How to Make Money in Stocks* by William J. O'Neil Great effort dude. But just as a FYI, you should probably change the double bottom picture you’ve used, as that isn’t what a double bottom classically does. Although I can happen like how you’ve depicted, a double bottom is actually a sign for a rally up the resistance and would classically break through, and you’d enter just above the breakout right. Thank you for the effort and toil! Appreciate it! Learn together, make money together! Everyone keeps visualizing boobs, but I was more impressed by the round bottom, You're doing the lord's work here. God bless you u/SkinnyJimmyuk Thank you! Thank you bro I fucking LOVE you bro for this! Thanks!! How is a bull flag different from a descending triangle apart from the flag pole?? Hey, I’m new to this daily trading and I’m looking for a mentor/someone to help me, I would like to copy your daily trades for a week or two and give you a percent of the income everyday! I’m in college and looking to do this as my job, Im already invested in long term stocks but looking to do this. I also have $2k to start, Lmk!! As a dummy, this is insanely helpful! Thanks stranger Thank you, just printed out 🙂 This is amazing! Thank you. Hello, can you please put yourself as the author on both google docs? I downloaded an offline copy and then forgot who you were to come back and give you kudos and credit. Thanks so much! As a new trader a really appreciate this. to the n00b eye a lot of these look like they actually mean absolutely nothing LOL for example: Bull Flag is contained within a double bottom. So, for the first half of a double bottom it's signaling buy buy buy and then oops its a double bottom, better go get a HELOC. Any clarification on this would be greatly appreciated. I realize that as a n00b im probably missing something. Nice work. Have an upvote kind sir Thanks for this, really insightful information, it's appreciated! I'm new to all of this so its great to get advice from someone that's actually been doing it for a while. From my understanding then you're saying that all triangle patterns are actually classed as bilateral as they have the potential to either breakout or down and that the best thing to do is be patient and wait for a high volume breakout/down before entering (hopefully I've got that right) ? This is a great comment and I've learned something from this and hopefully others will to. Thank you!! This was clarifying and may just save my butt hahaha that will be the Christmas special Boobs pattern = buy at the dips and sell at the nips Maybe 50% stocks and 50% boobies that will definitely get the attention the double cup Tomato, tomato C woods -no..... too old. LOL Thank you, I hope you find it useful My information is sourced via Investopedia and a multitude of YouTube videos about chart patterns. I am not an experienced trader, like I said, I am creating learning resources for myself and sharing them with you guys to try and create resources that are in one place instead of having to search through the internet to find little bits of information here and there. Great stuff, enjoy! hahaha its so shiny The information is very good, but OMG my eyes hurt by looking at this I love you both You're very welcome I completely agree, this is simply a booklet with various chart patterns so new traders have a point of reference to try and identify them in the live market. Triangle patterns are very reliable. Head and shoulders is also very reliable. I think some of these examples in this booklet are a little messy however and probably wouldn't be worth trading. you got me..... hahaha glad you like it Candlestick charts are the industry standard. Are you talking about chart patterns? Well candlesticks aren’t designed to predict the future, for me they’re a great tool to identify current and previous price action, they make it easy to identify highs,lows,close, and opening prices. To me they make much more sense than any other form of chart. You're welcome! Yes you're right, these patterns are not limited to one timeframe, an example i gave below was that an 'ascending triangle' for instance, can form on any timeframe, be it a 1min, a 15min, a 1hr or a 1day. Hope this helps! You're welcome No problem, hope you find it useful Glad you like it! You're welcome, these patterns are not limited to one timeframe, an example i gave below was that an 'ascending triangle' for instance, can form on any timeframe, be it a 1min, a 15min, a 1hr or a 1day. Hope this helps! You're welcome! Not a problem I'll take man! I do indeed, I totally forgot about them until I had finished the engulfing patterns and I didn't want to have over 15 patterns really. I'll be making a volume 2 which will included the 3/4 bar plays. Thank you for this, I really tried to make sure that I was reflecting the chart patterns correctly. I’ll take a look at this today and try to find better examples. I didn't but this is something I will get done once I have updated it with abbreviations, I didn't think people would want to print it so I didn't consider the ink issues hahaha, but this will be completed this week. You're welcome Awesome, I'm glad it helped, I will be updating the glossary with an abbreviation section soon as well! Yeah I searched for ages to try and find a double bottom that breaks resistance after the second support bounce but this was the best I could find as it breaks resistance on the third - I will be updating these when I find better examples. Grant you mercy so much! as a new trader a very much appreciate this *** ^(I am a bot and I swapp'd some of thy words with Shakespeare words.) Commands: `!ShakespeareInsult`, `!fordo`, `!optout` Most will say ascend/descending are continuation, but when the stops are taken out, then it's reversal, so that makes them bilateral. It's not the same as a failed pattern because I think more stops are involved with triangles then say double bottom or H&S where everyone is on board with the direction. And you're not looking for just a high volume breakdown/out, but the stops being taken out.. for ascending that would be at the previous low. It makes triangles really confusing thus bad especially for beginners and should be avoided. They can even be confused with flags. Best to focus on flags and wedges since flag patterns are quicker to breakdown/out. Wedges are easy to identify and are always bullish or bearish rather than continuation/reversals. Same goes for double tops/bottoms. Next would be rectangle as those are continuation too. But that also means when making a guide to point that out and maybe leave triangles as last or even advanced. Let me know if you update your guide, I'd like to add it to the sidebar in the future. 🤣 oh dammit take my upvote already. i'm only 18th in line. feelz dirty. This is great! It will be a really great study guide! Can you Format it so I can print it? So it is on a white background with black font? My first instinct was to print it but luckily I realized it would kill my toner! You sir are doing a lot of young investors good. I was just looking for this on another thread! Youre the man thank you I love you bothly Question: what chart is this? like, the minute chart? 5 minute? hourly? what is the range on these charts to look for these patterns? edit: spelling. Can you tell me what the time frame is on charts like these? Yea consolidation wedges / triangles can be enough edge combined with some basic variables to become profitable. That's useful to know. Thanks for the response. Any interesting investments? I'm in Canada currently holding TFI and NAKD in my USD account. I've been out of the game for a good two years and this was a great refresher! That’s great 😄 Will the file be automatically updated in google drive, or do I have to find it again then? :p Fair dues! Well I’m sure there’s loads out there aha. !Shakespearinsult Yes I have updated the post with a link for a printer friendly copy haha, enjoy! Kind words my friend. So much love In terms of timeframe I believe the ones listed were screenshots taken from mostly 15 min or 1 hour. But any pattern can be applied in anytime timeframe, for example, an 'ascending triangle' isn't limited to just the 15 minute timeframe, it is relevant in all timeframes. Hope this answers your question Good question! I trade intraday so I don’t have any investments per se, AUVI was a bigger winner for me today though! Awesome! Thank you This helps a lot. Thank you [deleted] It does, and considering that you didn't put time frames, I kiiiinda figured that but I just wanted to be sure and not assume anything. So thank you for answering my question. I'm such a noob to day trading and I'm trying to understand it all. I do appreciate this resource. Thank you! Equally good answer, thank you for sharing the info! Weird Awesome, yeah there's a lot for us to learn, stick with it and have fun!" A simple trick that saved me from dumb moves today,2608,https://i.redd.it/3peigezss3771.jpg,"It sounded dumb at first, but literally having these three post it notes right in front of me helped as I was thinking of entries this morning. Gotta say, today was great because of it :) Since we’re posting our old school reminders. Here’s mine lol https://imgur.com/a/7WAGSvP if you still have conviction in the play, averaging down has saved my ass, even with a stop loss Don’t average down? Maybe in day trading but definitely not swing trading. Averaging down has helped me consistently profit In the heat of the moment I would read those as “Don’t stop...average down...and obey the chase” it's insane how much of trading is mental. idc who you are you won't ever understand that til you click buy Damn. I've been swing trading for June and tracking my progress. I lost my discipline of leaving emotion at the door and holding to my stop loss rule. Pride turned a -200 loss into -1300 dollar loss Lesson learned. I mostly short, in my new account with TradeZero I have only shorted. Today I averaged up because my entry was good but it broke a resistance and I was busy car searching so I didn’t see it and missed a small loss exit, it went up some more so averaged up again but looked extremely bearish then out of nowhere while I was busy it shot up 30% and I was down over 700. I just set a cover at a reasonable support below my entry and kept car shopping. Forgot I was even in the trade so when I came back to check my account I had $200 realized profit and was out of the trade. Terrible strategy but sadly it works to set and forgot 80% of the time in my trades. I used to trade with a guy who only shorted and usually made around 5k a day doing the same type of trades I do. At 20 he had over a million in his account, then one trade he kept averaging up and eventually had to exit for around a 400k loss. That trade lost him his mojo and he rarely trades anymore. Works till it doesn’t. I need post-it’s on my dashboard - made a ridiculous trade sitting at a stoplight today fully against everything I’ve been telling myself for a week. What program u using? Duck Dumb question. What is wrong with averaging down? One may say the more indicators, the more losses Haha I literally have THOU SHALT NOT CHASE! On a sticky note as well. Buy low, buy high, Hodl Don’t obey. Don’t avg down, it stops chase If you need a post-it to obey stops, why not just use stop-limits? That's what's saved my ass. Even now, if the price rips past my stop limit before I can set it, I'll still hold off on manually stopping out ""in case it comes back my way"". Stop limits don't smoke hopium. Also, sometimes I will average down strategically, but only when the price is close enough to my stop that the added risk is tiny compared to the potential gain, and even then, only when the price action looks favorable. Gives you a great r:r... but you have to obey the stop. Lmfao 🤣🤣🤣 the post it notes... Soon they'll be no bezel left, been there Averaging down is part of my daytrading strategy so long as its only a fraction of my initial position or my initial position is a fraction of what my intended position size is and i plan to fully enter by averaging down. I do dig the reminders. Where was this when I chased torch I have the basic rules on post-it notes too on my screens 😂 Strong rubber ducky I have no less than five to six on my monitor at any time 😂 I like your rubber duck. Are you a software engineer? I like your rubber ducky Lol don't put more than 3 it stops being effective after that. Do it for the rubber duck I think almost everyone that turns the corner has had some version of these up at some time or other. When I stopped averaging down so fast I stopped loosing so fast. Never less than 1 week, better more than 1 month. For some reason I read “Don’t Obey Stops” Can someone explain what each notes mean? Sorry newbie here. Yeah, definitely don't average down on an options contract that will expire on the same day. I understand averaging down on stock shares in a long term account, but lots of options contracts will go to 0. Glad to see other people have handwriting as crappy as mine lol If you mind me asking, what software do you use for trading? i shivered when i saw this. adopting for myself. thanks OP Averaging down has saved me many a time, and has helped me reap some pretty solid profits. Sometimes you just make a move a bit too early. I mean, I averaged down both amc and gme and I'm quite happy about that. Contrarian view (nothing is absolute, and I honestly do agree with your rules) \- Average down when the fundamentals of the business is strong and there's no meme trading on it + market is moving in opposite + it has consecutively down a few days (use[this tool](https://app.sparticus.xyz/consecutive-days-price-gainers)to find good reversion opportunities) \- Disobey stops if business has strong fundamentals and recent drops are less than 1 stdev and freq of drops are low \- Chase when mid-term window is clearly there, use different timeframe windows to get best entry point I was a victim of violating your rules and also made money violating them as well. All the best! Why not average down though? The only way it fails is if you run out of capital of it drops a tonne or if it doesn't go back up Can someone elaborate? I like to do the opposite. 50% of the time it works every time. i too use squeeze momentum Much colors Which platform is that? Genius. I don’t manually daytrade anymore bit looking at these I cam see how they can be very effective. Do you avg up? Averaging down has fucked me many times *dont average down immediately I'm pretty sure it is thanks to your duck buddy and not the notes! Give him some cred Is that TOS platform ? [deleted] Sorry, but averaging or doubling down had actually saved my ass more times than it didn’t on my high conviction picks! What kind of software are you using? I don’t average down, but the other two notes I need badly! A mantra to live by So true Why is Avg Down bad? Is averaging down bad? Serious question I have a strip taped to the monitor and keyboard. It says ""follow the rules"". Sometimes it's easy to get on tilt. 3 Best pieces of advice for traders. So true!!! Never Chase is my favorite!! I presume these are all little ""Thought bubbles"" emanating from the authoritarian rubber duckie ? Comforting yet menacing. I like it. Dont Chase. A lesson that always takes a lot of pain to learn ""Don't chase."" Civ battle strategies are finally paying real world dividends! Good rules I broke a bunch of those then ended up panic selling later lol I’m definitely going to try this, I love this 😂 What does Obey mean? Why not average down? Or is that just for day trading? Screwed myself today by not taking profit hoping it will go higher and then rescrewed myself by not respecting my stop loss....tommorrow i'll borrow your trick. I see you adhere to the rubber ducky method as well. Outstanding. Checklist - Charlie Munger style What is averaging down ? That last one is no joke. I’ve been chasing a lot lately and (for now) it’s only backfired This is exactly what I need. Thanks for sharing. Double Down. Classic 😂😂 Having a rubber ducky? Lol loving the ducky When I was a young Counter-Strike 1.6 player I had a Post-it note with ""remember headshot"" written on it attached to my screen. It worked. I think your color saturation is too high. The one that says ""don't avg down"" do you mean average down? And what does dont average down mean? Thanks for sharing this OP, you helped this guy out. So you get on the bus and then get off waiting for the next one but what if the bus passes you right by without stopping? What you’re saying is it’s timing and u r correct, but if you think you’re gonna buy and sell each and every time with even 50% accuracy you’re wrong Rubber ducky you’re the one. What does “Don’t average down” mean? [deleted] If I would of followed your first post it I’d be in the red Love it mate. Keep disciplined and reminds you of the bigger strategy you’re playing. Absolutely! Trading is fairly simple, controlling ourselves is hard I'll warn you that's a clinical sign you may be developing a gambling addiction, please be careful. If you notice yourself writing more and more post-it notes with rules to follow, I highly highly highly recommend you take a break from the market for a few weeks before you risk it spiralling into something you couldn't expect and can't control. Be well what is Aug ? I do this too, my most useful is ""Do not buy open/volatility."" Is that the ttm squeeze indicator? Damn, ya'll are getting $400 days?? all jokes aside, congrats! I hope to get to that level. I'm curious.. If you make, for example, $800... Do you skip the next day? Or just reset each day? By ""skip"" I mean anything from sleeping in to full off, or shifting a telecasting day to Friday or something. I'd assume you'd still check the daily news and such on some level to stay on pace. Death adder, noice Damn I do most of my shorting premarket lately. In and out before market even opens. Damn. What does it say? Agreed averaging down has worked wonders for me for several years. If you really like the company ofcourse. Being fluid is more important than most things when it comes to days/scalps. Averaging down saved me from a L as well, this very morning in fact. I just go all in or done trade. Love being offeredx2 margin as well but only do it on SPACs so I make nothing Averaging down has saved me multiple times, even when day trading. Glad I am not the only one who read that as well Don’t give up. Lessons learned have value. It's that bad for you eh? How in the world can you make an educated decision on your phone in traffic. I need like 13 charts, 9 DD posts, and 17 positive indicators before I jump in. thinkorswim Not precisely wrong, but you're losing money. Better to cut your losses on the first entry and just open a new position at lower price. Say you buy 1000 shares at $4, price pulls back, you buy another 1000 at $3.90 (already down $100), price starts going back up. You're still losing money until price hits $3.95 and you've got 2000 shares, potentially losing $20 every cent it moves against you. If you cut your losses at, say, 3 cents, you're down $30 & can buy back in at $3.90 if it looks good, and if you go the 2000 shares from the first scenario you're making $10 profit at $3.92 and at the $3.95 break even from the first scenario you're up $70. Instead of averaging down, get out and get back in at the lower price. I decide all my avg points before I enter. I write down for ex: 100 $STOCK @ XX.XX Buy10 @ %lower Buy15 @ %lower than last, but relevant to initial price I do this 3 times. That way I know going into the trade my total amount I will have tied up and potentially lose. I didnt learn that anywhere specifically so that could be a common sense thing, but it really helps me from getting emotional. Now, if I see a dive bomb downward, I check news quickly, check similar tickers, and if I dont see anything concerning I obey my original targets. Ughh! :/ 1.)Don’t buy or adjust because the price goes down 2.) don’t adjust your stop loss 3.) once you’re out your out don’t chase FOMO basically, stick to your original plan That effectively my reasoning too. It’s a great strategy going long. Not on scalping 0DTE Appears to be Think or Swim What happens when it never comes back? Unless your plan initially had more sports to average in, and it's not an emergency reaction. Wouldn't you be happier though if you had closed your losing position quickly and just bought back in at the lower price you got when you averaged down? Just trying to help newer traders think a little to minimize losses and take a little more profit -- managing losses can make or break a trader. Whatever tool you shares ask me to make an account You are losing money the whole time you're averaging down. Why not cut your losses and if it does start going back up buy in at the lower price. Have your stop in mind when you open the trade, get out at the stop, then buy back in if the opportunity presents but no need going more and more negative hoping it'll turn around before you're out of money it's for moments when it just dumps and dumps Yeah, that's the problem. You get used to it working. Then, that day comes when you just keep holding and adding, trying to scalp bounces to get back to break even but the stock (or worse: the futures contract) never comes back. This is how you blow up accounts. This gives your mind permission to do it on less certain pics. Then you blow up an account that never comes back. Unless it's part of your initial plan, you are throwing money at a trade that has already told you that you are wrong. Each time you average in, it's like another bad trade since if you were correct, you would not have to average down in the first place. Just get out and look for a new setup. At least that's my interpretation. It's chasings' idiot cousin Aka- a working brain 😂 I agree, this is really case specific. Thought problem. Scenario 1 I enter at $1.00 with 100 shares. Price drops to $0.90. I buy another 100 shares at $0.90. I now have an average of $0.95. Price rises to $0.96. I make a $2.00 profit. Scenario 2. I enter at $1.00 with 100 shares and a stop at $0.99. My stop executes at $0.99 for for a $1.00 loss. I re-enter at $0.90. I exit at $0.96 for a $6.00 profit. Total across 2 trades is a $5.00 average. Total across 2 trades with a $0.98 stop is $4.00. Total across 2 trades with a $0.97 stop is $3.00. Total across 2 trades with a $0.96 stop is $2.00. Total across 2 trades with a $0.95 stop is $1.00. Now we’re finally even with the bad trader in scenario 1. You were in the red. You just aren’t smart enough to see it. A mechanic makes money by being a good mechanic. A doctor makes money by being a good doctor. You’ll never make money trading until you become a good trader. Good traders set stops and obey them. It’s “would’ve”, by the way. They teach contractions in grade school. Where they also teach basic math. [deleted] Lul OP made another post where he added a fourth post-it note. I'm curious as well. What is Aug? It’s all about weight you throw around. If you can afford 800 shares of something and jump in, get .50 a share price increase, then get out, boom, 400$. Used to have 1k days before I blew up an old account. Usual share size was around 500 so a $400 day was low. Now I’m lucky to make $200, averaging $50-$100 a day in my new account. No, I let my runners go of course, but when I close my trades or get in/get out quick and im above 400 I quit, no matter if it's $398(close enough) or 2k. At least I try. Sometimes, shit is easy and you find that you know EXACTLY what's going on with the movement and you can scalp an extra 50-200. But no I wake up at 6 every morning, go to the gym, come back shower, and then start searching. Never take a day off. Some people dont like that style because of 'tilt' but i dont believe in 'tilt' persay. Sometime it's just an attitude thing, I may need to take a break and go for a short walk and drink a water. It's actually the Viper 8k, but I had a death adder for a long time, and had to get a new mouse, this was the logical step lol. I love the 'go fwd/bkwd' buttons when browsing the ole interwebs Danger. If I do premarket, it's a small position. Very small. Such huge swings and liquidity problems, not for me. Then after I double down multiple times and have nothing left, I turn into a long term investor. Do you make money off your 13 charts, 9 DD posts and 17 indicators? That's a pretty good way to average into a position. Keeps your risk low while you monitor the price action. Hopefully, by the time you have a full position, the set-up will have a high likelihood of succeeding. It’s ok lol at least I get some sort of div..hopefully the merger is good for the stock in the long run Thanks man. I lost around 5k doing all of the above. Adjusted stop loss. Fomo'd on 5x leverage cryptos ... Wish I had some quick resources on leverage trades or examples how to analyse. My analysis is still rudimentary and I am afraid of entering again. Cause I am left with 200 bucks Because what if you sell out and it goes back up, then you miss out on being in the position for a company you potentially believe in Ha! I’ve got high pain tolerance! Nice reminder indeed! Quick question: how do you decide your stop? I get that this would be a case-by-case basis; that said, do you base that decision on a percentage you estimate the share can drop down to or on a value it could drop down to? And if a percentage, how do you estimate it? Thanks! “Would of” is an accurate written representation of how “would have (would’ve)” is typically said aloud. This is an exceedingly common way of writing the phrase (doesn’t make it correct, of course). It’s a descriptivist’s delight (that’s me) and drives prescriptivists crazy (that’s you). Written language lags oral changes by many years, and this may be one that goes the way of “whom.” Speaking of, since you’re such a grammarian, how’s your “whom” game? hell yeah > It’s “would’ve”, by the way. They teach contractions in grade school. Where they also teach basic math. Dayum, /u/KidQuap is gonna need some ice for that burn. Though I would take it one step further and say that he (or she) could have omitted the “would have” altogether since starting the sentence with “if” already turned it into a conditional. So the revised version would be: > If I followed your first post I would be in the red. By the way, I love the instant feedback a site like Reddit provides. r/murderedbywords Scorched Pros take scenario 1 all the time. This suggests nothing about sizing, and when to hit hard with your real size, as opposed to stop-out. Learning when to enter and using the right size is the key. Yes, stops matter, but stopping out that fast as opposed to managing the trade with proper sizing is what makes the real money. I guarantee you they don't put sticky notes on their desktops in hopes that it will help them avoid their compulsive tendencies. It's compensation for what *could* be an underlying gambling addiction. It's important to be mindful of how we try to compensate for our compulsive tendencies so we don't normalize, and therefore exacerbate, them. Also, to reiterate and clarify - If those 3 notes are it, then there's probably no problem. If, however, OP finds himself writing more and more of these types of post-it notes then it's definitely time to take a step back and reassess the situation because at that point it can spiral out of control into self-doubt and revenge trading Yea I wasn't kidding at all, it's a real thing This word/phrase(aug) has a few different meanings. You can see all of them by clicking the link below. More details here: *This comment was left automatically (by a bot). If something's wrong, please, report it in [my subreddit](https://www.reddit.com/r/wikipedia_answer_bot).* *Really hope this was useful and relevant :D* *If I don't get this right, don't get mad at me, I'm still learning!* You make it sound so easy haha Sorry for asking, but by blowing up an account you mean that you blew through the money in that old account or is it something else? (I keep seeing ""blew up an account"", but don't quite know what it means.) >I wake up at 6 every morning, go to the gym, come back shower, and then start searching. Hardcore, man. Well done. Cool. The discipline helps not being susceptible to ""tilt"", I would think. Thanks for the reply! Do you use multiple brokerage accounts or stick to one? Can you explain tilt? I always close my winners out too early, any advice? Do you mind explaining the ""tilt"" concept? I'm very new to investing, have yet to move from my paper account to my (small) live account. Yeah I usually only do a couple hundred shares at a time and only do stocks that are up like 30% so liquidity isn’t an issue but I end up covering after open. Most of my set up are just perfect pre market and fade by the time the market opens. I only average down if that is part of my strategy from the start. That helps me stick to the plan once the trade is open. I trade the contracts, so if it drops 10% I’ll buy another set of contracts and keep going until I get to my total allocated amount for that trade. Check out max option trade on YouTube. Theirs a free 7-8 course on trading. Take it for what it is but it’s a good starting point I said twice in my previous comment to buy back in when/if the stock turns back around. I explained it in another comment like this: better to cut your losses on the first entry and just open a new position at lower price. Say you buy 1000 shares at $4, price pulls back, you buy another 1000 at $3.90 (already down $100), price starts going back up. You're still losing money until price hits $3.95 and you've got 2000 shares, potentially losing $20 every cent it moves against you. If you cut your losses at, say, 3 cents, you're down $30 & can buy back in at $3.90 if it looks good, and if you go the 2000 shares from the first scenario you're making $10 profit at $3.92 and at the $3.95 break even from the first scenario you're up $70. Instead of averaging down, get out and get back in at the lower price. Add to your winners, not your losers. Just my opinion (and math), not financial advice. *chuckles* I'm in danger! Support & Resistance levels. If the trade goes against my expectations, I'll usually bailout. It’s more difficult on penny stocks, as an example. But if I bought 100 x $1.00, I would put in a stop @ $0.98; then, if it goes down, I would short or wait for the stock to show some support at the lowest level to buy. Always protect your money from loss. Reddit‘s trading subs have a serious issue with glorifying holding bags and averaging down. A lack of risk management is literally the main reason 90% of day traders fail. They refuse to obey stops if they even set them because they let their emotions override proper risk management. I’m not comfortable giving advice on stops unless I know you actually have a proper risk management strategy. I won’t be responsible for more bad trading advice on reddit. You decide your stop by looking at the ATR (average true range) of the market at a time frame you feel comfortable with for the ATR price. Which direction do you think market is going and where do you think it will hit support/resistance. Once you decide which position you’re taking (long or short, You set your stop loss above or below resistance/support + the ATR = your stop loss. Your target could then be a 1:1 risk to reward. Once price comes close you could then do a trialing stoploss and keep going until you hit your intended profit. Rather than listen to me I say best thing is watch some videos about ATR. Best of luck bro I’ms totes ‘gree wid dis guy. Peeps be sain I’ms like gone like nevver get takin’ srsly cuz da way I right butt WHATEVR! Changes in language used to happen primarily due to geographical separation. Now technological connection has reduced the significance of geographic separation to the point where the language and the rules of the language will not change rapidly at all. Sure there will be slang and regional dialects, but the rules of the written language will most likely remain similar to what they are now for as long as technology limits human separation. I really doubt ""would have"" will go away just because some people are bad at grammar. Of course that's just my opinion, and as we all know opinions vary broadly within subjects and depending on with whom we are speaking :) While we are on the subject. You know what really grinds my gears? When people say supposably when they mean to say supposedly. You loosed me ...........no gives a shit bra ...... Nah man I have no need to be salty when my portfolio is up 60k off 30 lol I’ll talk how I want:) and nahh I said it right the first time can tell this guy definitely is super fun to be around:) Edit: I upvoted him he’s not wrong it’s a smarter move not to do what I do but again I invest long term and if I believe in a company I would rather die with that company than play hot potato and make less because I’ve done it so many times in the past, because I work and don’t have time to day trade properly, don’t think he’s wrong just don’t think he’s right for my circumstance but I’m glad he got whatever he needed to get out Yeah blowing up an account is losing all the money on a trade(s) It's just an easy thing for me, basically saying that its not that much of a discipline thing, so dont give me too much credit on that front lol. I enjoy trading and dont have much of a social life, I know that if i plan on sitting at my desk for 6hours+ straight everyday, I have to do it lol, and the 6am time gives me plenty of time to be alert and slowly start gathering information without feeling pressure by the time the bell dings. I should say that position/account size plays a key role in that amount/day. If youre trading with a smaller account ex. 25k (just enough to day trade) i think you would be taking quite a risk trying to hit 400/day, thats over 1.5%(probably redundant to do simple math for you people here). Just wanted to throw that out there. P/L per day is extremely relevant to account size. I just use ATP, I personally have no need for multiples, I dont see the reason unless you are the type of trader that trades in the millisecond trades for ultra quick scalping. Thats too dangerous for me. I trade fast sometimes, but not that fast. I just need two trade windows open Here you go u/xORFEOx Ill do my best to explain it, it wont be very long. From Wiki:Tilt originated as a poker term for a state of mental or emotional confusion or frustration in which a player adopts a less than optimal strategy, usually resulting in the player becoming over-aggressive. Tilting is closely associated with another poker term, ""steam"" Tilt is a bit different in trading because there are so many variables that you/me are constantly observing. Youve heard that you should never trade on emotion, hype, or because someone says so. That pretty much only leaves trading on your own DD and observation. Being tilted in trading(to me) is when you are trying your best by doing your own DD/Strategy and it just isnt working. In trading, you can cut your loses whether you follow the 1% rule or the 4% or w/e rule you follow to cut loss. Even though you can pare your losses, they typically mount extremely fast and result in you feeling like a dumbass. This is where the tilt starts, instead of feeling mad, you(me in this case) may become bewildered and thus go to making a strategy/plan on the fly, which is obviously a negative in the idea column, but may seem like the right play at the time. Instead you should either A)Quit or in my case, I go for a walk and drink water or B)dont switch your strategy and keep trudging along. Tilt will affect you negatively but I dont think that traders necessarily get mad at themselves after youve been trading for awhile, most of the time you can spot your mistake or pick out the detail you should have given more weight in your consideration. In gambling, you can adopt the 'my luck is just bad, it will change', hopefully that is not how you trade, so in trading, i think that i adopt the 'oh shit i dont know what im doing wrong' and get frozen, maybe for the rest of the day. If we are in some sort of trend, then i may get 'frozen' for days until I find the trade that I KNOW will net some profit, ya know, gettin that gutter girl, the one that brings back your confidence. I should add quickly that in trading, you have to have the ultimate self confidence that is based on your past performance, but DO NOT be so cocky that you might ignore some good advice or take into consdieration that someone else just may be right. I closed my TSLA position today at 645 soooo, nope. I have no idea. When i think back on it, I should have known it would perform like crazy today because of its illogical(to me) tie to BTC, but I got worried that others would realize that too. What i generally think is: What am I looking for in profit? Once it hits that, and it looks to keep going, set a SL at that price so i can keep at least those gains. Hell, you can always buy back on a moderate dip if youre liking whats going on. I dont do that though lol, normally once im out for the day on one thing, i rarely trade it again, except for AAPL, I have been known to trade it just this week like 4 times in the same session. Oh ok, I see that. I was thinking of targeting 'regular' tickers, not the off the wall aftermarket bangers. I can def see that working more than not. Sure man. It's better to develop instinctive analysis rather than burn my hands again. Much appreciated man!!!! Thanks 😊 I understand what you are saying but if it were that simple you would be rich. It's more likely you buy in at $20 it drops to $18 you sell and wait for it to drop lower to buy back in it goes up to $$22 and you missed out. Yep, I've had so many people tell me average down if the stock goes against you, like????? Why the hell would I do that, I'm not going to bag hold the stock for months just to turn a profit, when I could cut my loss short and move on because I was wrong. I quit trading shares all together because I'm tired of trying to predict directional plays and I was getting burned at it. I've gone on to selling verticles, iron condors and butterflies, less risk, but less reward, but you can see your probability of profit from the start. Thank you good sir & yes, I like to learn from all sources: I'm not one to YOLO my money because I work hard to get it in the first place. Baby steps are key to avoid a lot of pain, if you ask me. On Reddit? Context matters. Also, you said butt. Haha. Tech, actually, will (and has) accelerate(d) language change—especially written language (and pictographs). But, yes, tech does impact previous language change trends. Spoken variation really runs the gamut. If someone were to write that, that’d strain even my tolerance for variants. You can be proud of your earnings but should be ashamed of not understanding basic math and English. Ouch. I hope that they regularly took profits out. Sorry, I am a beginner. I just want to ask. In your point of view, how much % / day is normal? I just want to learn a practical targer so I don't hope for too much and get burned. Like, for example if I only have 10k. If I am green with ~150 (as your example with 1.5%). Should I just close my trade and call it a day? Thank you! So, in sum, it's the psychological state which occurs when things fall apart and you start acting on impulse, hoping that you can somehow best your proven strategy in the moment. This can often happen in response to a bad day or series of bad trades. I think I get it. In a previous lifetime I was really into sport fighting, and it sounds like what happens when you go off the rails and start trying to improvise. If your coach says get on the jab right away and don't let off, but it's just not keeping the guy where you want him, you might let him come inside a little and try to score there instead. Meanwhile your coach is screaming at you to stick with the plan because it might take a bit for the plan to really show its efficacy. Like I said, haven't even started trading yet. Mostly just writing this comment out as a way to internalize this concept because it seems very important. Thanks again! Absolutely No plan is perfect 100% of the time, I'd just rather get out at $19.80 and get back in at $18 - $18.50 when it starts back up. If you're afraid you'll miss an overnight gap up, get out when it starts dropping and get back in end of day. I understand basic math and English fine, if you don’t have time to watch the line all day the set losses like that can lose you money I’ve done it many times in the past I’m okay on doing it in the future but no doubt homie forgot this was the r/grammarpolice You can be proud of yourself for understanding basic math and English but ashamed of yourself for having no friends, cause hanging out with people who correct your grammar to phrases used in the past is a dbag way to win an “argument” when I literally said for my situation it didn’t work. But I can tell this interaction really got you going in a sexual nature and I’m happy for you in that regard creeped out for myself Edit: set loss at .99 it sells all your shares then shoots up to 1.10 and now you’re fucked. Just for basic math from the original “burn” to assume it’ll go down more because you’ve a set lose, assumes you know the future and you know what they say about assuming. Whether to close a trade has nothing to do with a daily percentage. Every trade should at least have a risk-reward ratio 1:2 so if you risked $75 on that trade and hit 150, that’s a good trade and you can be marginally successful with moderate hit rate as far as successful trades. Typically if you like to use daily risk you shouldn’t lose anymore than 1% a day, and growing your account by 1-2% a day is sufficient. I dont think that there is a 'normal' or target, because you cant exactly control that side, really the most control you have, as im sure you realize is the downside and your amt of risk. It all depends on what youre happy with and what your goals for trading are. With me, it is my sole income, so I know that in 3months I need to have made X amount. I dont say that 400 is my target, it is just my stopping point. I know that I will have 1k days for example, so those boost me, but Ill also have 2k down days. The market doesnt like giving, it likes taking, so with that in mind, if youve made 1.5% of your account in one day, thats not such a bad thing. But TLDR you gotta know what you want out of your trading then try to hit your targets with consistency/good trading. The reason i have the 'no meme' thing there is to remind me i have no fucking idea what is going on there and if i want to play blackjack/poker, I can go to a casino for far less money. Thats exactly it. Also, your first 'real' trade, not just a little money trade, but a real trade that has a legitimate consequence that you can/will regret will feel much like the first real fight you went into. Except that in this case, youve already submitted your movements/offence/defense and are waiting to see if it was good enough. No getting around it, just like in fighting, it's just the time that comes lol. Here's a sneak peek of /r/GrammarPolice using the [top posts](https://np.reddit.com/r/GrammarPolice/top/?sort=top&t=year) of the year! \#1: [Just so you don't forget](https://i.redd.it/z1r16a77lwj51.jpg) | [0 comments](https://np.reddit.com/r/GrammarPolice/comments/iip3jg/just_so_you_dont_forget/) \#2: [My what is on camera?](https://i.redd.it/ci3wvh4mcnt51.jpg) | [2 comments](https://np.reddit.com/r/GrammarPolice/comments/jcu310/my_what_is_on_camera/) \#3: [English is complicated.](https://i.redd.it/nbff4kbumux51.jpg) | [0 comments](https://np.reddit.com/r/GrammarPolice/comments/jpucvx/english_is_complicated/) ---- ^^I'm ^^a ^^bot, ^^beep ^^boop ^^| ^^Downvote ^^to ^^remove ^^| [^^Contact ^^me](https://www.reddit.com/message/compose/?to=sneakpeekbot) ^^| [^^Info](https://np.reddit.com/r/sneakpeekbot/) ^^| [^^Opt-out](https://np.reddit.com/r/sneakpeekbot/comments/joo7mb/blacklist_viii/) 1:3 with 60% accuracy per trade. At only 1:2, you need to be a lot more (unrealistically) accurate to grow the account. I have a little matrix somewhere that breaks it all down. I need to take up this 'no meme' approach...but in fairness learning price action signals like bullish and bearish engulfing have helped some. Problem is we don't know the real extent of the manipulation of those securities (dare I even call them that)... That's terrifying, but I'm looking forward to it lol. My trading group uses 1:2, it’s not absurdly high, but yeah 1:2 is a minimum, I scale out of my positions and in a good trade I don’t partial until 2R and stop is moved to break-even. I definitely don’t hit 1:3 every time on quick day trades because my instinct is to sell ¼ to ½ on the ask almost immediately, but on longer planned out swing trades I won’t take less unless a catalyst interrupts my trade. 👍🏻" After 2 years of Daytrading. 7 months full time. Here's my advice,2533,https://www.reddit.com/r/Daytrading/comments/fw82ow/after_2_years_of_daytrading_7_months_full_time/,"This is a good post, I like you, I will follow you, do book reviews please, thanks 🙏 8=D You had me until you said golf was cheap. •#6 have Tony Hawk Pro Skater 2 soundtrack on repeat. Thanks for the info! Is there any impact on your strategy with so much volatility? Thank you for posting please post more content on your indicators to do everything possible to pick up a stock When I was doing a generous amount of betting on horses, I used your number three point. I would only bet horse 3:1 to 6:1. Anything less I wouldn’t get a return, anything more and I wouldn’t win enough. Great advice. The psychology of it all is the hardest part, for me at least. Any pointers besides removing emotion? Seeing that you lose 53% of the time and just commit to the strategy is good to hear [deleted] Of all the books you’ve read, would you say there is one that stands out more than others? nice to see some actual useful content in the sub for a change... rather than 'LoOk aT My gAiNs w00t' and a screenshot of Robin Hood edit: which is still a shit platform Guys,follow him. He's a legend in making. Thanks, good read! Do you have any suggestions in terms of the best way to go about backtesting (computerized and manual as you mentioned) any given strategy? Would you share the pattern you look for? I feel like that’s the only thing you left out. I’ve been day trading now for a couple of months, I’ve been doing ok, but I think I may been hitting a turning point over the last couple of weeks. Last week over $1,060 profit, $900 the week before, and this week so far I’m up $500 in one day. Nice having a job I can work from home even before this whole covid-19 quarantine. Would love to make this my full-time job, but it’s entirely too risky to let this become my main source of income just like that list of bills and expenses you post sketches me out. Not to sound stupid, but should I be losing more trades? Out of my 100 last trades my ratio is more 85:15. 85 wins and 15 losses. Also is there anyway to set stop losses as soon as you buy a stonk? Or does it always have to be set after I buy the security in question? I’m a little late to this but I love what you wrote. Question: how’d you end up deciding to trade the strategy you have and the patterns you’ve chosen to trade? I’ve take in so much information and I’m trying to find my strategy. Just getting started in the game and finished the course over at babypips. I'll be trading forex. Do you mind sharin with us what signals you look for before executing a trade? Or a good book/youtube series on the topic. Many thanks What are the 10% that are worthwhile? Which books in particular would you recommend? Dude 🤣 number 2 and number 5 are so spot on! I cringe every time I see someone with 58 indicators going on 27 screens (the fluff books you refer to, are responsible for creating the monitor type) - nice write up! May I ask you about taxes. That is my big fear is the taxes to government and state. Do you pay per gain or end of year of all your gains and lose. Do you lose 45% of your gain to tax. Any book I can read about this issue? I'm new to trading. Why do you need so much excel books? What software do you use got back testing? I imagine the manual is just excel. I’m a few months in, doing it as a side hustle (I work full time from home). The hope is at some point the numbers make sense to stop selling time to the employer. Could be a year, could be ten years. I’m good with that. When I started, the candles were chaos. Macd/stoch double cross seemed much more sane. But not as reliable as i wanted. I made more rules. Piles and piles of complicated rules. Once the backtesting went green, I flipped from paper to real money and jumped in. Now I’m starting to have enough trades under my belt that I’m finding a groove. Definitely still have a ton to learn, but I’m noting more and more that the indicators are becoming confirmation, and not primary signals. The candles are starting to make sense. I can absolutely imagine a time in the future when I think to myself “huh, I haven’t even looked at those in months. I should reclaim that screen space.” But I’m not there yet. My rules have gotten much much simpler though. And that only came after I got familiar enough with the beast so to speak. Once I started being able to immediately recognize bad charts as they came up on screen. Turned out, most of my rules only ever applied to bad charts I shouldn’t be in anyway. The best advice I got was “you just have to slog through hundreds of trades.” Watch shit go bad and get used to that feeling, stop feeling like a girl agreed to go out with you on your winners, and when it’s finally totally familiar and boring, THEN you can learn useful stuff. I found this group accidentally while googling for something else. I joined the group specially to thank you for your words of experience and wisdom. Nice post! As someone who is a beginner paper-trading for now, what courses/youtube channels/books do you recommend? Currently taking a course on Tradimo and its alright. Wanting to get into more advanced courses and I don't know where to look. Are these 3-5 stocks you trade every day different each day? Like, do you pick fresh ones each morning based on the patterns you see? I work 3 days of the week (weekdays/weekends), so on average I get about 3 sometimes 4 possible trading days that I am off. Would this be sufficient to do, or does one need to really be there 5days a week. Thanks you for the advice. I have been meaning of doing that. Been reading the boglehead investment. Appreciate it This has been the most informative post I have seen so far, thanks for taking the time. I started investing and trading two weeks ago when I got sick. I’m in the Bay Area of San Francisco and investing here seems to be a standard. My wife and I are trying to have a baby and I am not looking at it for a career, I have one of those. But I want my kids to have a leg up for college and my retirement. I will follow you. This is all very sold advice. Have discovered all the same things in a little less than a year. Only thing I disagree with is trading being boring. For some reason I like it. Or maybe it's just that compared to how much I hated my previous jobs, it is way better. What would you say is the best advice you ever received ? Can you post a link (or email if you will) the excel sheet you use to test different risk:rewards with different price points? your trading style sounds very much like my mentor thank you lol Excellent points! The single best post I read about trading. Thank you Great read and advice. I’m studying to day trade for supplemental income only. This is great. Thanks for the write up. How much % return do you make every month/year? Would love to see that business plan!!! What were the books you found particularly useful? Awesome post bud! Great info all around. Good information here. Did you have a mentor? Who taught you your edge? Hey brother semi new to trading, besides picking up how to day trade book what else do you suggest? And what percentage where you averaging on monthly basis of your portfolio size? Thanks for that comment What’s your approach to doing this part-time? I’m planning on developing a trade system where I only trade 2-3 times per week. Don’t want to do this full time but trying to see if I can part time with help from my algo bots. I am following. If you ever want to throw a stock in the mix I will probably buy on your advice. Great post. Could you give a few examples of the prerequisites you look for before looking at the charts? So you would enter a trade with the stops already set at 3:1? So you don't manually exit the trade correct? Is the entry automated as well? Like you set a bid you're willing to enter at? What % of your capital do you risk for every trade? Do you have any resources for how to create your watchlist rules? Wait could you talk more about the pc requirements? Are you running some sort of algo on your computer or is your trading platform just super resource intensive? Absolutely! The moment we get pregnant that is something I want to be prepared for. Did your annual income go up significantly when you started full time ? Could you make a list of the books or Post a better picture The picture isn't clear to read all the titles of the books Thanks Have you thought about making your strategy into a algorithmic system? Since you always look for the same pattern, and the bracket orders are easy to calculate, it seems like the next reasonable step. I really want to do this as a day job and see eye to eye with everything you said. But i do need to do more research as well as brush up on my statistics. I also need to learn to read candles. Everything else you mentioned is fairly good to go. I subscribed to you. I’ll be glad to hear any thoughts you put out there what time aggregation (1m/5m ...) that u use for your charting ? Commenting to save, otherwise it'll get lost in my /saved. Great post, thank you. Do you think that it is possible to code an algorithm with your knowledge? If so would you trust it blindly? Any recommendations for books that you felt held more information/strategy? Thanks for this info - just so I understand this. You only trade from 9:30 to 10AM (ish) and then you are done for the day? Nice post! For full on day trading I know you said you don’t hold overnight and I think that’s a huge problem for me cause I get in on certain trades and next day when I’m ready to sell I lose a little bit. Don’t have $25K to pattern day trade with and using the 3 day trades/week is not really cool but whatever What do you trade? Stocks, options, futures etc? Excellent post. As a lurker curious about the dive into DT, I appreciate your candor. I look forward to future posts. More of a lurker around Reddit, but this is fantastic. Thanks for keeping it real! So true. Politics... I am in California. I get taxed on my tax. Lol I agree Hello I’m a loan officer and work 9-6 west coast regularly. Please point me in the right direction to start trading in the morning I concur with much of this sentiment. Thanks for posting! Thank you! Thank you so much for these golden nuggets. I had a question though. I am just starting to pick up day trading and would like to do this part time (I have a “full time” job but most of my work is done remotely from home and my hours are pretty flexible, so I can devote some more time to trading than most people who want to do this part time) but I am very curious to know how you go about filing your taxes as a day trader. I’ve lightly touched on some of the rules the IRS put in place for day traders and it kind of repelled me considering my desire to only do this part time. Can you give a closer look into how you go about filing your taxes as a day trader? Highly appreciated and definitely followed you and saved this post! I like you too!!!! Thank you for sharing! Can you please give me a couple of example of a pattens for day trading? Is a gap up and then a closing beneath the open candle considered a pattern? I’m struggling to identify patterns... Can you put me on the right track? Cheers I appreciate you taking the time to write this post out. I am on day two of trying to learn how to trade by learning the terminology first. Thank you! Is there a way I can reach you to ask you a couple questions I have written down? Or anyone for that matter 🙏🏽 Thanks for putting this out there man! Great post, man I miss baseball. Also a full time day trader and I commend this advice. I even sold my car to get started originally. The only thing I disagree with is a fixed profit target of 3:1. I sometimes target just one point and risk 2 points. Sometimes I'm 90% sure of getting a point so the math works I will take it every time. But maybe I'm close to resistance so don't think it would I'll get much further. it depends on context. Identical patterns might get 3:1 and might only get a point or two depending on location. So I think profit needs to be adjusted rather than blindly targeting 3:1. What's the main thing preventing you from making more than \~$900/week in net profits? Is it insufficient liquidity in the book required for your trades, the size of your bankroll or your risk appetite? Assuming you had a $1 million bankroll to trade with, how much more do you think you could make in terms of weekly PnL? Thank you. You say you don't use indicators and trade only based on patterns. May I ask which patterns are those? Great post, thank you for sharing! I stumbled across this today and found it very helpful being a new trader. I had a couple of questions about your strategy and also the use of margin if you're able to help. I was wondering what happens if a trade doesn't reach your 3:1 threshold - that is the price doesn't move enough to gain $300 or lose $100? When it comes to margin I'm a little fuzzy on the mechanics. On TOS I was approved for margin recently but am unsure how to apply it. If a security is margineable will a trade automatically use borrowed funds or do I have to indicate using margin vs. using cash with each trade? I noticed my margin balance has been adjusting with each trade I make recently. I'm only making small trades right now to get comfortable with the platform. This is a great post. Very helpful. 👌🏾👌🏾 Awesome, thanks for the excellent post! Do you have a Twitter page? Nice post man! This is the best bitter sweet advice I've read in a lifetime. Thanks CJT thank you for the post going through a slump right now and you are right only way to get better is to lose money and learn from your mistakes hopefully one day can make it to your level. Am a new trader and my spidey senses are tingling....I feel like this post has way too many gems and some of which I don't even realize at this stage in my journey. Thank you man...you are a Hero. Tears what a post! Excellent information, found this 2 years later & still very helpful, thank you. No offense this is what every furu on twitter says. Pattern, back testing 3:1 r/r etc etc. Question is did YOU make money before you are teaching and worse manage money for others!! Everybody and their mother is a teacher in this market yet most don’t even make money yet. Thanks Man, this Is a good advice Why do people believe posts like this? Here are the numbers OP is claiming: 10 trades a week, 3:1 reward to risk ratio, 47% win rate, 0.5% risk per trade. This means his weekly return is about 4.4% : (4.7 winners/week \* 1.5% profit each)-(5.3 losers/week \* 0.5% loss)...this means his yearly return is about 900%. His two year return will be 8800%. How many trades have you made in the past 2 years, OP, and what is your annual return? Your posts are always extraordinary! The advice you’ve shared with me is always great. Thanks for being understanding of new traders! Can you show me your recent trading statement/record? I'm still learning but I've been investing over 25 years - day trading for about 10, so I do have some experience... ""Don't hold overnight""??? I guess I'd call myself a day/swing trader, then, because overnight/3-12 day long trades have definitely been by far the best and most profitable of any trades I've ever made. And for the loooong term, buying TSLA at $27 or AAPL before the iPhone and holding for several years have also been investments I've been very happy with. Trading a mix of day/short/long has been most successful for me. Using indicators definitely isn't going to hurt you. Never has hurt me. Market conditions DEFINITELY have an effect. There are going to be days/weeks where the market really isn't going to have the type of activity conducive to day/swing trading. Right now with the pandemic, you're seeing a lot of movement you'd rarely see in normal trading days. I'm not sure I understood the 3:1 rule. The way it reads, it sounds like you're limiting yourself from profits past the $300? Hmm... For example; I bought 14 shares of UVIX at $496/share on 3/16 - sold them on 3/19 at $880/share for about an 80% gain. I bought UCO last Tuesday at $1.60 - held it through the week and sold most of my shares at almost 100% gain. With the volatility we've been seeing lately (I've been having great success with airline stocks) it seems like your rules could potentially keep yourself from monster gains - but I don't know what types of stocks you're trading - I don't do options, just stocks/indexes, etc. Also, there's no guarantee with those rules if you're not picking good stocks, obviously. 100 bad stock picks is $1,000 in losses. I'd say best rule for everybody is; if you think you know all of the rules, keep learning. And BE CAREFUL - It's your money! Good to see you've found a strategy that works for you its not easy. Although you've made it so cut and dry it's no wonder you are bored with it, why not expand your strategies and continue finding new ones that might provide 5:1 or higher returns. Your link to your book list isn’t working anymore, can you please repost? It would be great to hear what patterns you look for? Quick question u/CJT2013 . If you follow some specific patterns then couldn't this be automated. I mean there are a bunch of services that have APIs for stock prices and pattern recognition (50-200$/month). Many brokers also have public APIs available, though Im not sure about their pricing. How much, hard to automate, manual work you are doing when choosing which tickers to play? Great write up! If I may ask, are you looking at patterns like your traditional triangles etc or is it more candle patterns? What kind of time frames do you look at? Great post, do you have a Twitter I can follow you on? (DM me if social media promotion is against the rules) . This is one of the businesses where you have to prove yourself everyday, like a boxer you're only as good as your last fight. Hey man, I have two quick questions. 1. If you’re done at 10am, you mean you only trade for like 30mins to 1 hour per day? Is that the total time, or do you spend a lot of time doing other things preparing/analyzing/studying throughout the day etc. 2. You only trade candles, which sounds much easier than sludging through all the different “studies” on the TD Ameritrade chart to figure out which ones work for me. People say if it sounds too good to be true then it is. This sounds super easy and too good to be true: 30mins-1hr trading using only candles and making more money than most people make working 10hrs a day. As a novice, what am I overlooking, misinterpreting or missing? SOOO Whats your pattern plan? Would love to learn! Just 1099. Not a business I'm just wondering but why the super beefy computer? do you have any kind of checklist ? or some trade plan? from where the trade should start and when it should end? like you said with the patterns... Are you sure you wanna series 65? You'll have to have everything monitored after that, basically. Something people don't realize: it's not quite the case before it. I have people asking me to manage their money but I don't want to be beholden to someone else or have everything monitored :( You also need to basically be sponsored by a financial institution? Hey mod, Great and honest post, liked it. Got into trading as hobby (and for paying other hobbies) aside from the main income, so have plenty of time to watch the markets. Have one doubt, what you mean with 3:1? is it leverage? or just a max high/max low when you make an operation? Regards It’s a nice strategy. One doubt/suggestion, why don’t put a stop loss in the +300$ range instead of stopping there? You don’t hold overnight, so why not squeeze the position? (Totally unattended) Do you ever let your winners keep running up, or do you sell once your target exit price is achieved with no exceptions? I started day trading less than a year ago. I was doing alright trading a specific pattern and only 1-3 stocks. Then I started to try and expand and find a new pattern or two and use scanners and covid 19 happened and, welp, unpredictability became king. I feel like I’m swimming in a pool with sharks and ships and I was not ready for this. Reading this post reminded me of my plan when I started day trading (following a couple of years of swing trading as a hobby) and how I intended to do it. Recent events really broke my confidence in what I once thought was the right approach for me (simple, logical, patterns). Thanks for the writing this post. I was Googling how to day trade and came across this post and wow. About a month ago I got scammed on a LiveTraders course. The course was his YouTube channel in book form I’m going to chat you chat you my LinkedIn and Facebook so you know I’m normal but can we please talk over the phone? Thanks! Trade options and don’t doubt your vibe. Fuck $900 a week. $400 per day amounts about 100K a year before tax. Any books you’d recommend for an absolute beginner? The biggest question I have is why not turn your strategy into an algorithm and now you don’t even have to run your business you just CEO it and determine how much it should be capitalized to run. The lack of good materials in my mother language opens room for a lot of gurus that makes thousands a day. I'll follow your advice, and prepare, I need it to work even if it's slow... Wow this was a very interesting read!! I just recently got into the stock markets because of a few friends got me hook on the Robin Hood app now I just wanna learn more about stocks and day trading. How many trades do you make a day? What is your daily profit target? I have traded off and on for a few years and my dad is a day trader who trades VXX. I'm starting to get into day trading now. I have a good account size but trying to figure out my daily profit goal. I've been doing a 3:1 risk reward as well. Currently shooting for $500 a day. I have a day job that pays very well but I'm getting burned out after 15 years. Respect Would you be so kind to list the best three must read books? i hope you still trade What patterns do you trade? Do you have previous examples and your requirements for these candle patterns? Edit: do you trade options, or purely stocks? What’s your average and longest trade (duration)? Great postwith lots of good knowledge. I am trading cryptocurrencies mainly, and here indicators are really a necessity. Sometimes my indicators are going in directions against each other. For example, if macd is going down but RSI is going up, does that mean it will pump? Assume I am talking about 1h timeframe. Then I have another qustion, what if 1h RSI is oversold, and macd is going down, but on 4h RSI is overbought and macd is going up. What can you say about that? Thanks for the post. I've been following stocks for years, betting on many. For day trading, I'm still trying to figure out my approach. A couple things I'm curious about in general: Since you seem to be looking for visual patterns, how would one even back test that? Or can you also put what you do in equation form? If that's the case, why do it visually instead of setting up algos? Thanks again! Which are those patterns you look for ? This is real sound advice man. Thank you for this. Quick question, what do you think of some day traders in youtube (Humbled Trader, Timothy Sykes, Steven Dux, ZipTrader)? I've been getting into this since I""m really interested in the financial markets, but I don't know if I should trust them since I""ve never seen their account balance or their trades. Do you recommend them? USD:EUD pairs ftw If your strategy is so boring and predictable just automate the whole thing. Developing your own strategy with that ratio took some time but I respect the fact you keep to the plan regardless and found it to be profitable. Appreciate every piece of knowledge you provided us. Have you looked into currencies and commodities or is this all? stocks? If you get 2 more monitors you’ll be 4:1 profitable. Guaranteed. thanks dad Did somebody ask a question requiring this answer? What exactly are you trying to sell? Credibility? I’ve been trading for ten years and everything said here is nonsense What are you thoughts on margin, and do you basically trade with the full value of your account on every trade? So, you're saying Im going to get rich?? Nothing useful here for someone with experience. If you don’t prove it..looks like you selling something! Done with indicators a long time ago. All I watch is the ADV/Dec to get an idea of what kind of day we are working with. Trend or meandering. I use 60 min charts. I only trade Emini S&P futures or Micro S&P futures. I try to find high or low for day and only work with that. I found this guy. Highly recommend. [https://www.youtube.com/watch?v=Uzq1jgNKuBc](https://www.youtube.com/watch?v=Uzq1jgNKuBc) Tip: 1. befriend an old neigbour that has no relatives. 2.Buy him groceries. 3. Get corona 4.Fuck the old lady/man 5. Give her/him corona. 6 You are rich af. 7. Invest in SPY 8. Lose all your money 9. Cry on reddit [deleted] Whatever guy. Doesn’t sound like you really know what you’re doing. On Reddit, anyone can be anything. I’m a billion dollar hedge fund manager. Get a part time job? LMAO!! Stop giving advise after 7 months guy. Your advise is really bad. Come talk to me after you have about 12 years of experience. You’ll eat your words. #2 doesn’t use indicators. Then what the fuck do you do? Make yourself a cup of tea and then study the leaves? How do you take profits? I am just getting into using 'scalping' methods to day trade. Say I have a $20,000 position, and I am scalping small movements in the stock: how do I take profits? Do I sell the entire $20,000 position all at once, and then reinvest the original position, then keep the profits from the scalp? ​ Help please! Thank you So the books in the picture are no fluff??? Which book do you recommend, I work nights and would love to start reading . Thanks You trade forex? Thank you, sir! Will do man! Been a pretty boring few weeks to say the least Haha! I edited the post. What I meant was going to the driving range, $10 for a bucket of balls and working on chip shots and drives It’s got some good tunes in it! No problem man, hope it helped and thank you for the comment! This is why I haven't been successful yet! Oof. You kids are already listening to the sequel, and I'm just here listening to Superman on repeat. Ah, I see you are a man of culture as well. As far as premarket scanning. Yes. Small impact. No longer are stocks gapping to ATH or ATL support and resistance levels. Now I must use support and resistance with the new levels provided. As far as the patterns intraday. Not one ounce of a difference. Same sharpe ratio, same R, same batting average. Same income Yeah man, I’ve had lots of requests to do so! I like to trade with music or TV but I’m considering streaming my trades on Twitch once a week. Currently I’m just recording my trades with Camtasia. Problem is, recording is great but sometimes it freezes the computer before it starts to record and it has made me miss a few entries before I’ll keep it updated, thank you for the comment! Statistics is a universal language. I wouldn’t doubt it works in a casino, sports betting, horse racing, etc. And thank you for the comment! Can you please explain this 3:1? 3:1 pay out! It can be shitty dude! I have seen plenty of trades hit JUST a few cents below my target and fall straight to my stop loss. It happens. Have tough skin. Don’t fret over one silly trade. Trust your statistic! You can't remove emotions. What you do is, you keep trading. You keep trading until you have some good wins. That's when you stop - not when you have a loss. Yes, sir! Thank you. Used to work from home once a week when I had a 9-5. Added on to it when I went full time trading That’s a great question! I knew this one would be asked If I had to pick 1 that I’d tell a family/friend of mine if they wanted to get the idea of trading (not investing) I’d say Andrew Aziz, “How to DayTrade for a Living”. He goes into detail about risk management and reveals very basic strategies. And like anything, you’ll build off of what he provides. I also really enjoyed how he explains risk management. That’s what trading is. Managing risk with the means of only doing business when your edge shows face Lol! Thank you for the kind words! Glad you enjoyed it Thank you for the comment! I appreciate that, bud! Thanks, man! As far as computerized backtesting, I select my criteria in TradeIdeas. (Market cap, share float =+ 1 since I don’t trade ETF’s, spreads beneath 30¢, avg volume. Etc) then I’ll tell Trade Ideas to scan a specific pattern. I’ll tell it I want 3:1. Problem is it’ll show ever stock that has formed that pattern when 90% of them wouldn’t have been on my watchlist. So I have to check where that stock was gapping to and from on that specific day to see if I would have traded it. Manual backtesting. Literally just pulling a chart 2-3 months back on 1 time frame. And seeing when my pattern(s) form. You’ve got to be very honest with yourself because there are tons of patterns that you’ll skip since your eye won’t want to see them because they failed. Even if it’s 1 tick into an entry. Account for it. I then use excel to see how many times that pattern worked 2:1. I see what the pay out was and batting average. That’s where I decide if 1:1, 2:1, 5:1, etc. would have paid me most. If scaling out would have been better using WeightedDollarCost Averaging (exiting half position after 1:1. Then aiming for either break even sell out or 2:1 sell out resulting in .5:1 or 1.5:1 RRR. Lots and lots more to it. I highly suggest getting good at excel because it has expedited my learning curve immensely! To piggyback off this do you know of any good backtesting software for osx? Or just a site in general? Patterns the best I can describe it on text is. If it is a bullish trend. I’m waiting for a pull back. That pullback must be smooth with the same size range bars with volume decreasing. My entry is upon the break of final pullback candle I guess the best example on google is if you search “3 White Soldiers or Black Crows”. That’s really it Not a stupid question by any means, brotha. I’ll put it to you this way. It’s a perfect balance. Win-rate means nothing without RRR. And RRR means nothing without win rate. I choose 3:1 because my pattern yields the most profit at that RRR and win rate. I would do 1:1R if I had a 90% win rate. I would do 5:1 if I had a 35% win rate. To answer your 2nd question you can enter bracket orders with multiple targets. So all shares stop loss at $X. With a target of half shares sold/covered at 2:1 then the remainder at 3:1. If your targets all hit. It would average ti 2.5:1R Before I get lost in the comments like I did yesterday, send me a chat man! I’m making sure I respond to every one of those 1 by 1! what strategy are you using? Hi，your win/loss ratio is already high, may I ask the size of your trade? Time to scale up? Taking in all info from YouTube, books, etc. will fry your brain and make decisions difficult. Remember we’re trading, some people see buy and some see sell then there’s everyone in between. Pick one, backtest it electronically and manually. All strategies work if you have a predictive model built from historical data Best advice is take it easy, be patient but persistent. Send me a chat anytime, I’ll always be here Good for you man! Good job taking the time out to be patient before putting your hard earned money on the line. As far as signals, since I trade equities. I look for stocks (with a strict criteria of fundamentals and technicals) gapping to support or resistance on the daily. From there I see how PMKT is behaving then I decide at what price level I’ll be setting alerts to look for a pattern. Forex is tricky with the spread being so sporadic. I’ve paper traded forex for fun in the past and I’ve found that trading higher time frames (30m and above) works the best. With stocks you can trade 1m 2m and 5m no problem. Patterns work for all instruments of trading such as equities, forex, and futures I would say the 1 book I found the most useful information out of was Andrew Aziz’s “How to DayTrade for a Living”. I enjoyed how he broke down risk management. When I said “10%” I meant of all those books as a conglomerate. 10% of the info in them was useful. Any book regarding penny stocks, disregard them. Save your money on the book AND your account I would say the 1 book I found the most useful information out of was Andrew Aziz’s “How to DayTrade for a Living”. I enjoyed how he broke down risk management. If a book is focused on penny stocks, stay away and save your money and your account. Never have I bought a penny stock but as any novice entering the biz wanting to expand their knowledge, I got the book(s) on them. Andrew Aziz is a superb author. He gives a great foundation to work off of for a price far beneath its value Thanks, brotha! And very true. Price goes up. Price goes down. Find the pattern that works. Find the best payout. Manage the statistic and dump the indicators.... and that can be very boring! Lol Alright so I’m not a CPA so this isn’t advice and I suggest consulting a licensed professional. Day trading taxes aren’t as bad as people think. It’s literally ordinary income. There’s a bunch of ways you can do it. This past year before I had an LLC, I was obligated to pay 24% of my profits due to my W2 income. So a good rule of thumb is to set aside 30% of your profits in an account you don’t touch. I also had a W2 job so basically my refund was offset by my gross profits trading. Are you going to be doing taxes as a 1099 or as a business? You don’t absolutely need them. I was an analyst before I went full time and I love looking at data, they’re great books as they can help siphon information resulting in finding trends a lot easier than pen and paper Excel is fun for me Yes the excel is used for manual backtesting as well as analyzing live trades that I’ve taken. Put the 2 together and see if you’re really utilizing your edge. Tough to do for a long time but as you become a better trader (disciplined) they’ll start to match. The software for computerized backtesting is Trade Ideas That’s great advice man! And very true! You’ll pay for your education through the market one way or another. You’re only successful if you learn from mistakes and it seems you have Like I mentioned in the post. Indicators don’t work for me, I’ve even read an entire book on John Bollinger’s Bollinger Bands. But if indicators work for your strategy, keep running with it! That means a lot to me! Thank you for taking the time out to let me know this Courses, none. I just did a quick glance at Tradimo. Doesn’t seem bad! They have a free coaching call. I’ve never bought a course. I can say to stay away from those who advertise a luxurious lifestyle. As I mentioned in the post. They’d be hedge fund managers. Best thing to do is network and find someone who will consult you at a reasonable and affordable cost. Someone who’ll spend 1 on 1 time with you, and walk through trades with you at least once a month. Courses don’t provide that, they take your money, teach you candles and throw a couple strategies at you. YouTube confused me starting some years ago. So many different styles/management systems, platform suggestions etc. I suggest looking at charts and wait until you see a pattern that your brain begins to recognize. Not kidding this is what I did and slowly over some years, a risk management system was formed and now when I look at any candlestick chart, I am color blind until I see that exact pattern Yes! Fresh tickers! I have had the same PreMarket scan for almost a year. It feeds me about 100 to scan, and of those 100 tickers, I’ll see 3-5 that I like. Almost everyday they are different. Rarely do I trade the same ticker 2 days in a row Dude, 3 days a week is perfect! When I was an analyst, I would have 1 day per week where I could work from home. That was my day that I traded. 3 days is ample, go for it Yes, sir! Thanks so much for the comment. I highly suggest everybody to take on trading in one form or another. Look into reinvesting your trading profits into a 529 savings plan. I’m not positive, but I’m sure there are tax deferments you can take advantage of Great to read that you’ve been in the biz for so long! Keep it going And yeah I’ve had a few comments saying they too disagree that it is boring so I thought about it and I agree it isn’t boring with what I know now but it isn’t what I thought it would be. Starting out the adrenaline was real until I started becoming desensitized/jaded to it. So I surf the web, watch TV, play around on Reddit etc. my patterns require 3 bars minimum before I even start considering a trade so if I’m on the 5m, I’ll be waiting 15minutes staring around a chart until it’s tradeable. The job is fun when you add the music, and freedom. Also yes I loathed sitting in an hour of trafffic twice a day. I’ll take this over a 9-5 all day even after you take out the crucial health/dental benefits a 9-5 provides I love that question! Your #1 job is to protect the account by taking well managed trades that only fit your strategy like a textbook. No trade taken is better than taking a hasty trade that did or didn’t workout. That alone will yield consistency I’ll be sharing what I can throughout the days on my personal page. Don’t want to litter the sub too much! I’ve never heard of Equities ETC. I’m self taught I appreciate the comment and it’s great to hear that other traders are teaching something similar. Means we’re all doing something right! That means a lot to me, my friend. I’m glad you found it insightful That’s super to hear! I know you may not be trading in an IRA but did you know that less than 5% of IRA’s are self directed and of those self directed IRA’s more than 28% of them have a net worth of over 7 figures. Only you have your money’s best interest in mind. Keep it up Thank you for the comment! I’m glad you enjoyed I don’t suggest giving yourself a % KPI (KeyPerformanceIndicator) That’s where it gets tricky so I don’t measure % gain or loss. I measure my performance based on a sharpe ratio/R. So if I’m risking $1 per trade. And I make $15 that month. I will write it off as 15R. Because let’s say I have an account of $100. If I make $50. And I pay myself the same every month but the account still nets a certain $ amount. The following month I could lose or gain more. Pay myself the same. The % will change too violently. TL;DR- it’s best to measure your performance on RRR due to relative gain/draw-down Lol, it put some friends of mine to sleep! I find it a great weekly read. Very often I flip through it after a sub-par week. Also has lots of material on how to grow this business outside of trading with long term investing. Basically how I will write things off/reinvest earnings in tax deferred vehicles etc. I would say the 1 book I found the most useful information out of was Andrew Aziz’s “How to DayTrade for a Living”. I enjoyed how he broke down risk management. Stay away from anything that relates to penny stocks Thank you, sir! I’m glad you found it a good read! No mentor or consultant. I’ve done a fair share of networking and have talked to a handful of small family fund managers. (People who manage retirement accounts for small businesses that’ve been around for some time). They have opened my eyes to how hedge funds/institutions operate. Like how stocks gap overnight, why they do that, their strategy of driving the price of certain stocks up. (You ever notice how a mega cap stock gaps up with such little volume but yet other mega cap stocks will gap barely with lots of volume) those are institutions. Depending on the criteria, some of those will skyrocket, some of those will tank. Sometimes PMKT looks clean, sometimes it looks sporadic. It’s institutions trying to drive the price/recruit more money to the ticker Excel books. Get good at it. It makes manual backtesting 100x easier! As far as %, that’s not a good metric to base your performance off of. Here’s why. Let’s say you have a 30k account You return 10% one month. So now the account is 33k. You pay yourself 1.5k. Now the account is 31.5k. If you return 8% that month, and paid yourself the same 1.5k. Your KPI metric wouldn’t be consistent over a period of time UNLESS you constantly changed your risk every trade. That would be a headache I measure my performance on R/ sharpe ratio. So if I’m risking $100 per trade. I will keep that same risk for an entire quarter before changing it regardless of account size. So with what my statistic/edge is. I profit just under 50% of my trades with 3:1 R payout. I take every week on average 10 trades. Win rate of 47%. $100 risk When I was doing it part time, when I was in the oilfield, I worked in an office from 11-8PM Central. I’d trade the open once a week. Then when I became an analyst, I worked 1 day per week from home and did that. Do it part time, I wouldn’t suggest any other way for the first year MINIMUM. Just have a well written and thought out business plan When I pass my series 65 I will be more than happy to legally advise you! Lol thank you for the comment, sir! Sup dude. So I’ve got my money’s worth out of this post and I’ve officially become lost in all the comments on here. PM me, makes it way easier for both of us! Send me a PM my man. I tried responding to comments yesterday and got lost. Trying to respond to everybody! Sure man, send me a chat! I got lost in comments yesterday trying to respond to every comment. I’ll be answering all of them this week It didn’t from trading itself and that was all taken into account. As an analyst I was at 84k or 2500/bi weekly. I’m paying myself from my trading account less than that per month but mind you I do personal training which offsets the difference to the same I was making as an analyst before resigning I don’t want to get lost in the comments like I did yesterday. It got pretty hectic so if you ever have a question or what a little advice or me to review a trade. Send me a chat anytime. I’ll talk trading all day! I don’t want to get lost in the comments like I did yesterday. It got pretty hectic so if you ever have a question or what a little advice or me to review a trade. Send me a chat anytime. I’ll talk trading all day! I’ve looked into classes on Python/C++. Just haven’t pulled the trigger. I do personal training on the side that is in the works. I’m not 100% sure but if I’m not mistaken that is called “BlackBox” trading and it requires a huge amount of capital. I’d have to learn how to insert my PMKT criteria. If it’s gapping to a certain price level. PMKT price levels and if it’s consolidated rather than sporadic. Also from what I understand is that it’s scalping nickels while risking pennies It’s something I’m interested in the future though I appreciate the subscription and kind comment, sir! Send me a chat if you have any questions! All of my charting (where I draw horizontal crucial price points) is on the daily. All done in the premarket. Once the bell ring. If my pattern doesn’t form at that line, I ignore it I don’t want to get lost in the comments like I did yesterday. It got pretty hectic so if you ever have a question or what a little advice or me to review a trade. Send me a chat anytime. I’ll talk trading all day! Thank you for the kind comment! If you have any pressing questions, I’m asking everyone to send me a chat, I’ll be responding to every single message throughout the next week! I’ve looked into algorithmic trading but from what I understand is that it requires lots of capital. “Black box trading (I think that’s what it’s called) is basically scalping nickels for pennies on super low time frames since patterns work on all time frames. Eve man have considered a Udemy class on Python/C++. Not sure if can muster the ability to tell a computer my strict strategy. I tried using TOS to scan for my pattern but it has zero give. Like for me I don’t want candles overlapping more than 50% and it’ll only show me candles with exactly 50% overlap. Plus how I can tell a computer. Only show me this criteria of stocks that have X PMKT amount of volume with a consolidated premarket that have higher pivot highs and higher pivot lows before considering looking for a pattern within a range of my desired price. One step at a time I suppose. It’s definitely in the works but being honest, not near future Andrew Aziz. “How to DayTrade for a Living” provided me a solid foundation to run with That’s the majority of days. My rule is once I have achieved 5R before 10EST, I’m done for the day. If I haven’t taken a trade by 10AM EST. I’ll stick around but rarely does that happen. If I’m down 2R for the day I shut it down You know I wish I had mentioned my time when my account was below 25k. A little story, when I had reached +25k and was officially able to take as many trades possible. I was entering hasty trades and exiting way too soon at the slightest pullback. That 3 day trade limit forces you to wait for a solid entry and really makes you try to find every reason not to enter a trade. Keep at it, brotha Stocks! I write covered calls on long positions in my IRA that I have from my previous employers Thank you for the kind comment, sir! Yes, sir thank you for the kind comment. No rented lambos or private jet photo shoots. I don’t make millions but it’s a full time source of income for me Chat me anytime, man! Hahah! Gorgeous scenery. Horrendous prices/taxes I wanted to move west a long time ago before I went full time to do what you did. 9-6 PST is perfect for day trading! Open up a brokerage and crack at it in small sizes. I suggest reading How To Day Trade For a Living by Andrew Aziz. Treat it like a business and follow a backtested plan! Thank you for the comment! Glad you enjoyed it, bud Yes, sir! Thank you for the kind comment and I’m glad you found it helpful!! To answer your question: Depends, are you going to do this as a 1099 or as an S-Corp/LLC? As a 1099, it’s ordinary income. Whatever your tax bracket is for gross income at EOY, is what you’ll pay. If you profit, it’ll offset any other W2s you have. If you’re at a loss, you can write off up to $3,000. And roll over any more that you have until it’s all written off. One downside is that you can’t write off expenses like you can with TTS (trader tax status). ..It’ll be tough to find $3,000 in write offs since day traders frequently trade many of the same tickers. (Google the WashSale rule). This is how I filed 2019. As a 1099 as I did not have an entity and also I had a W2 income ..Intro to as far as an LLC/S-Corp, that’s a little more different deciding how you’ll pay taxes quarterly annually etc. Chat me anytime Thank you for the kind comment! Send me a chat my man Chat me anytime, bud I could probably help, I've got alot of the terms down and trying to gather resources to get started. I still have alot to learn, so helping someone would probably help me too. Yeah man I do too big time. Go ‘Stros! So is this Carlos? Alex? Or Jose? There’s enough comments you can reveal yourself no one will know hahaha Thank you for the kind words! I too sold 2 of my pride and joys to get into the business to help alleviate the inevitable drawdowns. ​ As far as the 3:1RRR target. If I see my stop size is 25¢ making my target 75¢ away and its beyond a major resistance level (If I'm long), I simply don't take the trade. Or perhaps the stop size is 25¢, if I'm asking for a 75¢ move but that move would result in me demanding the security exceeding its ATR for the day regardless of the relative volume, I simply don't take it. ​ There's plenty of prerequisites I require before taking the trade!Fortunately now its all just 2nd nature. I've had a large sum of Reddit users ask me questions via chat and when I try to explain it really enlightens me on how much really goes into such a ""simple"" strategy lol Man it would be tough to get filled risking .33% on trades. Think of a 30¢ StopSize on something like AMD. Super liquid yes but to get 11,000 shares filled at say $47 is asking for a 517,000 dollar move. As far as what I'm risking now. Some weeks I make enough to retire in 5 years. Some weeks I'll be bankrupt in 9 months. It all averages out to roughly $900/week It’ll used borrowed funds. Unless you hold overnight, it won’t charge interest. Don’t be scared of margin. It’s what makes a trader able to take trades Example. If I have a 75¢ stop size on NVDA with at $330.50. Thats 130 shares (a $44,000 trade). I always keep $30,000 in the account. Without margin I’m unable to take the trade. As long as you’re using bracket orders you’re fine Thank you. That means a lot Yup. @CJT2013 It’s on my profile bio Thank you for the kind words, my friend I love to read comments like this. Thank you for the kind words Thank you for the kind words, bud. I’d say not so much “lose” but you definitely need a few slaps to the mouth to callous the wounds and become desensitized. Give it time and don’t give up. Wash out the noise and research relentlessly Part 2 is more in depth! I wrote it before this was archived. I’m glad you found it insightful. Best wishes, my friend It’s always going to be the same, my friend! Thank you for taking the time out to write that kind comment and best wishes to you No offense taken. For the record, no eBook, or course is being offered. No rented lambos or AirBNB’s. I don’t even have a Twitter. My personal Instagram and Facebook has friends only Just wanting to share my advice If you have any constructive criticism I’m open to it because even after 2+ years I learn something new on a weekly basis I’m a frequent commenter on this sub when I provide my constructive criticism to a post from a beginner or expert and am asked questions I answered on this post. Thanks and cheers! No you don’t compound the return as interest like it’s an index fund or 401k I see you got scammed by Option Alpha. Did they teach you to measure a trading account in % and not sharpe ratio/R? Did you start trading recently? I understand you got burned, and I see your post history you started posting in r/options a couple weeks ago I remember when I used to try to measure in %. You don’t calculate the % then compound it when you pay yourself out of a trading account. This is all an average Some weeks I make enough to retire in 7 years Some weeks I lose to where I’ll be bankrupt in 3 years. It all balances out to 8R per week. It’s balanced out over 2 years of trading You calculated if I were to compound the returns every week. You calculate an index/retirement fund in %. You calculate a trading account’s performance with Sharpe and R Yes, sir! And as always, thank you Sure PM me Sounds like that’s what works for you! Keep it up man 25 years is a long time! I hold overnight, in an IRA and write covered calls on my long positions. As far as day trading, no. It’s 3:1 every time. And again, my strategy wasn’t effected by the market sell off. 3:1 every time. Smaller positions here and there. But 3:1 pay out everytime. Yes 3:1 cuts you off from bigger profits but nobody knows where the price is going live. Yeah it used to suck seeing it continue but giving back profits isn’t fun either That’s a solid question, man! I wouldn’t say it’s 100% boring but I scroll through Reddit waiting for my pattern to form at the price levels. Many times my price level intraday is met but no pattern forms. Sometimes the pattern forms at an undesirable price. Sometimes the pattern loses its integrity the last few seconds of the candle printing. It’s a discipline I’ve slowly become accustomed to. The better way to word it would be trading is boring compared to what most think it is. If you’re getting an adrenaline rush from uncertainty, that isn’t a good sign in my opinion. If people find trading exciting then I hope it remains for them! So on my manual backtesting has the highest R for all fail trades taken (and ones I’ve missed from my watchlist) I’ve found the mode R that provides the highest yield is 3. This is continuously monitored. If I was at 1:1 with a 90% win rate then I’d course I’d take that over 3:1 at just under 50%. 5:1 I see a lot but on lower time frames later in the day which require lots of re-entries. Currently 3:1 is the best R. Super tough to explain over text but the best thing I could find on google for other users asking this question I’ve referred them to search Google for a “3 white soldiers” or “3 black crows pattern” that’s the closest thing I can find on it So I was just asked this question so I’ll copy paste my answer then add on to your question: I’ve looked into algorithmic trading but from what I understand is that it requires lots of capital. “Black box trading (I think that’s what it’s called) is basically scalping nickels for pennies on super low time frames since patterns work on all time frames. Eve man have considered a Udemy class on Python/C++. Not sure if can muster the ability to tell a computer my strict strategy. I tried using TOS to scan for my pattern but it has zero give. Like for me I don’t want candles overlapping more than 50% and it’ll only show me candles with exactly 50% overlap. Plus how I can tell a computer. Only show me this criteria of stocks that have X PMKT amount of volume with a consolidated premarket that have higher pivot highs and higher pivot lows before considering looking for a pattern within a range of my desired price. One step at a time I suppose. It’s definitely in the works but being honest, not near future _____ I would say there’s a goood amount of manual work. Looking for stocks that have a strict fundamental criteria and then wanting to see a certain pattern at a specific price point. The execution bar must have 50% less range than every bar leading to the execution on the pullback. Hard to explain on text man. Hence I’m sure it would be another couple years of learning before I even start learning with capital loss Top down analysis. Premarket I’m looking at where the stock is gapping to on the daily. If I like it. I’ll paint the chart at support or resistance on the daily. I execute on the 1m, 2m, and 5m. As far as pattern, the closest thing I can find on google is “3 white soldiers” or “3 black crows” If you google Trade Ideas I believe it’s called the 1-2-3 reversal pattern 1) I’m on my computer an hour before the open. I don’t read news, purely trading the technicals. Monitoring the PreMarket. No I don’t make hundreds of thousands of dollars matter of fact I make less than what I made as a data analyst. If you include my personal training business, then I make more than my 9-5 but from trading alone no I do not. No rented lambos or private jet photo shoots. 2) price action. Support and resistance then capitalizing on the patterns. Studies/indicators lag. There’s a reason it’s called “Pattern Day Trading” because we trade patterns. Think of it like this. Pattern A yields a profit of 3:1R 50% of the time. Why complicate it more with indicators. If you study the evolution of trading, it’s literally an auction. Google what OpenOutcry trading is. That all is distilled into a computer now. When you see consistent patterns. Take advantage of it and trade the pattern Overtime it will pay out https://www.trade-ideas.com/Help.html#GBR5 If you search for reversal pattern that’s the closest I can find I’m in Texas so no state income tax for me. For me I filed with TurboTax. Filled out my W2 and my 1099’s (also personal training 1099) So for me I was in the 24% income tax bracket. For day traders we can only write off losses up to $3,000 IF the trader did not buy or short into the same ticker within I think it’s 61 days (again not a CPA). So if you lost $300 on XYZ. Then got back into that same ticker within 61 days and lost another $300. You can only write off the final trade and not the amount in totality ($600) I had 2 or 3 tickers that met that criteria where I could write off but didn’t want to deal with the headache (Form 8949 is tough for non tax pros). I would have been able to write off and see back maybe $50 so I said screw it TL;DR- short term capital gains tax is seen as ordinary income. Whatever tax bracket you’re in, that’s the amount of money you’ll pay from your profits I get asked this a lot! For an extra $80 i got the i9 9900k rather than the i7 8700k. Rather than getting 1 stick of RAM at 32GB I spent an extra few bucks. I’m putting a great sum of time and lots of hours of my life exchanges for capital into a business, I’ll spend the extra few bucks Also the 2 graphics cards are 1060 (not a computer guy so might be wrong) I believe . Not much graphics required to see green and black charts That’s difficult to explain over text, within the business plan I’ve written I go into great detail about what’s required before entering a trade. Lots more to it than a pattern If you google Trade Ideas bar reversal pattern. That’s the pattern For a series 65 it doesn’t require any sponsorship. In fact I think FINRA just changed the rule to where you can have a series 7 without a sponsorship but you just can’t do anything with it. As far as the 65 though, since I’m in Texas, it allows me to give financial advice and manage OPM. If you mean by investors monitoring me, I’d be fine with that. As with anything in business, I can have an agreement saying if I don’t like doing business with you, I can cut the ties. The people I’ve met who are about to hit retirement who want to help a young guy out are willing to open some doors for me if I continue showing progress with my own money. It’ll suck at first since normally it’s a 2:30 AUM payout. So with ~100k in capital raised I’d receive 2% upfront + 30% profit every year. Not much even if I returned them 50%. Raising more capital can be tough unless you’re doing crazy returns but Rome wasn’t built in a day. We’ll see! 3:1R means that for every dollar I am risking. I am only exiting at a $3 profit or $1 loss. I risk $100 per trade. Over a series of 100 trades I’ll profit on just less than half 47 winners x $300 53 losers x $100 Not a bad question, I’ll be posting videos explaining everything I can best. Best way I can explain it as to why I stop at 3:1,2:1 whatever X:R my tracker is telling me (over a series of trades) is this: Singles and Doubles win baseball games. 5-7 yard runs wins football games. Not the homeruns, not the Hail Mary’s. Over a series of trades. Ending at the target my tracker tells me beats the homeruns. Nobody knows where the price is going Plus it fits my personality best. Everybody’s different As far as holding overnight. I have an IRA I do that with. Day trading accounts needs to be executed accordingly. If you want to hold overnight. Do that with a separate account I always take target. Black and white. People say to choke out the profit and move your S/L. Looks great in hindsight but hindsight won’t show you how a candle behaved during those 5m or 1m. Hard to determine that when it’s already printed Wait for 2.5R and move it to 2R? It’s a style of management but I’ll take the guarantee and look for opportunities else where. Makes for great progress looking back at trades taken HFT requires lots of capital for black boxes. Also trading isn’t my only source of income. I do consulting and I’m also a personal trainer. Trying to learn python and then insert my plan into it would be years before I could get back to where I am today I just became comfortable after seeing a year of consistency (hence I went full time 8 months ago now). It’s a marathon and I’m enjoying where I’m at now I see where you’re coming from but idk the first thing when it comes to algorithms but I do know it’s a whole other 2-3 years of learning Thank you for the kind words! I wouldn't recommend Robinhood but good on you for getting your feet wet, my friend. Its just like starting any other business and if you treat it as such, you will flourish Roughly 2-3 trades per day. No profit target. I take what my edge yields no questions asked. You can't have a target and force trades if your edge doesn't show face. Also if you're in a drawdown, you have to protect your account, that's your job first. ​ And I can emphasize with feeling burnt out! I didn't last 3 years in corporate America but mind you I never went out, I drove an old truck, lived broke all so I could save up for what I'm doing today so getting burnt out happened quick but no regrets. Still on here too. Check the Twitter for watchlists every morning I don’t use indicators nor do I trade crypto. Research historical data to find your answer rather than inferential data from word of mouth Hope that helps No website, no rented lambos. I’ve been a frequent commenter on this thread for a while and receive lots of messages asking these questions hence the post. Just wanted to share experience as I never got that luxury. 10 years is a long time, I always try to provide constructive criticism/areas of improvement on posts I don’t find beneficial That’s a reasonable question, man. I am a major proponent of using margin. It’s there for a reason. Let’s say you have a 30k account. Say your plan allows for 1% risk per trade. ($300). (I risk half a percent per trade) Let’s say NVDA has a pattern shown. Your entry is $250. Stop loss is $249. You can take 300 shares only with a leveraged account. The trade would cost $75,000. Yes you’ll be in $75,000 of debt for maybe 10 minutes but you will be out of the trade if it drops below $249. As a day trader, I am a big proponent of margin. Used responsibly. Never hold overnight as a day trader. And never buy stock on margin for long term investing It's so weird you spent so much time trash talking this post, yet really haven't provided anything useful to the discussion. You created a post in the same time-frame as OP today as an AMA, but provided so much randomly awful advice and claim to be a professional? I scanned your post and it's full of quality nuggets that knock the same complaints you aimed at OP: - You told a brand new trader to essentially just try shit out over 6 months without learning any fundamentals or developing a framework, and somehow he'll transform into a winning trader. I can't fathom a more random and pointless exercise in inconsistency. - You told another dude not using stops is totally fine, mental stops are all you need! Mental stops are a proven recipe for disaster for a multitude of reasons, especially when OCO orders can be moved in real-time with all the same benefits of mental stops while mitigating most of the negatives. - You told another dude you trade via the Level 2 data primarily. Level 2 data has been known manipulated by hidden orders for decades. L2 data is about as accurate as technical analysis in general (which is mediocre at best). What makes 60% win rate on trades more statistically valid than a 47% win rate? Didn’t read that. Not selling anything. This has been my experience. Take it or leave it. Glad to read you’re doing well✌️ Happy trading.. or not Uhhh. Retard. 47% over 100 trades risking $100 per trade with 3:1 pay out = 47 winners x $300 = $14,100 53 losers x $100 = $5,300 _________________________________ $8,800 profit. You think a 10:1 RRR will have the same win rate as one that is 2:1? Learn statistics and trading. You should look up how Charlie Geller and Jaime Shipley made their hedge fund so successful in The Big Short. Lots of small losers. But the few big winners paid them big https://m.youtube.com/watch?v=Qo1OSqBQYmk Skip to 3:47. Learn something I'm curious why the 64gb ram and i9900k? I have an i7700k with 16gb ram and its stupidly fast for trading. Why the 5k dollar computer setup? Charlie Geller and Jaime Shipley had a hedge fund of less than 100k. A hedge fund doesn’t mean Ray Dalio caliber. A hedge fund with an actual operating agreement can have 10,000 USD and still be considered a hedge fund. You got upset and OP isn’t even selling anything. Just his 2¢ on his experience Maybe ""no indicators at all"" is misleading. In my opinion even the candlechart itself is an indicator. Its also a lagging one obiously. But it helps determine potential resistance and support levels of the future. Well I for sure don’t get on Reddit to disagree with strategies or ideas when I see them. It’s called PatternDayTrading. As I’ve said in the post. “If it works for you. Keep it up” You know you have a good strategy when you're waiting for your setup's to hit. Depending on the personality of the individual it can take a long time to develop that patience to go with it. It absolutely is completely personality and turning the subjective things into an automation. People totally don't understand indicator lag and you can tell when they talk rsi mfi etc. Elder triple screen is better for folks like that. Yeah I feel, looking forward to the reviews tryna pump my brain with some knowledge, was recently a compsci major but discovered a love for trading options after realizing how violently autistic I am so I switched my major to Finance and am working towards a minor in CompSci instead Would be awesome to have book reviews or even just you top 10 Great info. I like the 3 to 1 on your risk strategy. Are your 3 patterns typically going short or long? Have you tried the banging trash cans in the stands indicator? It seems to work for the Astros Lol! You’re only unsuccessful when it you’re not learning from your trades! I’m sure you’re on the right track. Don’t quit! Hell yeah 😎 What is your income range? You watch Live Traders on YouTube? What Sharpe do you aim for, and what do you use as a percentage for the risk free part? Do you think you would be interested if there were some sort of platform designed for live/social trading? Almost like twitch and a trading platform combined? Please do this 🙏 I'd recommend getting something like a hauppage. Something like [https://www.amazon.com/HAUPPAUGE-Capture-Streaming-Connected-1684/dp/B07PNDBRFB](https://www.amazon.com/HAUPPAUGE-Capture-Streaming-Connected-1684/dp/B07PNDBRFB) . Basically graphics card -> hauppage -> monitor and then you're done, just do some setup and it's basically 1 click streaming without burdening your machine. They make some other stuff that is 100% standalone even. I’m going to give a vanilla example. 3:1 meaning if I buy a stock at $100. I see my pattern says to stop out at $99. I will assess my risk and size my share size accordingly to where if it hits $99. I will lose my risk. My target is $103. I will not exit the trade until a price of $99 or $103 is achieved. You will lose more but if you measure it over 100 trades and it works 45% of the time If you’re risking $100: 45 trades x $300 55 trades x $100 Total profit = $8,000 It’s odds in horse racing but as I read this in stocks, it’s your expected profit. Once you have that much of an open profit why not scale some off and, if volatility allows it, move your stop to break-even? Can I DM you? I’m curious about your over arching theory on price movement.. I’m sick of indicators and guru bullshit man. I just want to learn something real from someone who knows what they are doing without all the fluff. It’s ok if you don’t want to give away your strat but I could use a little direction if you’re open to it Oh wow! So this is normal? When you almost reach target and then get dumped on or hit stop loss? I do not know if this is the same with what I experienced where I was up really good and as having hard time figuring out wehre to exit. I am gap and go momentum trader. Just learning. Am newbie. Stocks were running and 3 candles spiking. $1k profit next candle was a dump and I could not press my sell order fast enough and my profit just ended up to be $200. The other one, I ended up becoming negative $1k. It was brutal. The dump. My buddy got me into trading and then I found Aziz’s books. Really helped me out a lot. His whole outlook on trading and life in general is great. Paper trade. Read his books. All the professionals I know and learn from are risk managers not traders. Interesting concept but that’s what it takes to stay profitable year after year. Good recommendation! I have that book and he breaks it down clean. Thanks so much! I’ll purchase the book and dive in! Ha, I know people who are always conflicted between Aziz and Elder. Same ideas, though. Thanks for this. I picked up a copy. This is very informative man, thanks again! I honestly feel you’re providing more useful info in your comments than many so-called ‘gurus’ do elsewhere. I’ve messed with Trade Ideas a little bit before and had actually been considering giving it a try again. I’m fairly OK with excel so that shouldn’t be a problem. If you don’t mind me asking, I have a relatively simple strategy that I’ve seen that I’d like to backtest. You wait for the first 15-minute candle to complete on any given stock at market open. You then draw a line at the high and low of that candle and continue to watch the subsequent 15-min candles. If/when a candle closes above or below those lines (ie high/low of the first candle at open), you go long/short on that stock. Your stop is the high of that first candle if short, and low of that first candle if long. You close the trade either minutes before market close or when the stop gets hit, whatever comes first. I’ve done some unofficial ‘manual’ checks on this just looking at SPY charts (what I would try the strategy on first if I did), and it seems promising. Do you think I’d be able to actually properly backtest something like this in TI to let’s say determine what the success rate would have been over past year or whatever? Thanks again for your time! I’ve never heard of OSX. I use trade ideas for my computerized backtesting then TOS for my manual backtesting TOS is thinkorswim, and it might have an OSX version. If not, couldn't you just do it in parallels? A lot of trading software is explicitly X86-base. Do you set your stop based on that final candle? Maybe the high of it? Thanks, I’ll look it up! Thanks bro, just messaged you What broker do you use that allows those kind of bracket orders? Thanks for the response bro. Which technicals do you typically use? And also what's PMKT? I’ve read it and it is very good. I’ve always been tempted to join in on the bear bull chat room, but ugh, paid chat rooms when I have reddit. Ok. Thanks a lot, I’ll check it out! Not the op but I had a similar question. I'm thinking about doing this 1099 just to earn some cash on the side to get my hobby off the ground and gain a little financial independence balancing stocks and daytime trading. Very new to the both of these and the tax scare/current low income/overload of information is giving me a scare starting all this. oh I see. also do you reccomend beginners using tradenet or paper trading on there own? The most useful thing to me was learning the math behind macd, stoch, and rsi, and how they move with price, and why traders find them useful. The underlying concepts were much more valuable than using them for trading, because it helped me understand what to look for in price movement. My apologies if you’ve answered this already; Whose are your scanner through? And who are you using as a brokerage? So... I am an analyst and worked a day from home before the outbreak. How did you set up your day with trading and having to work at the same time? And how long did it take you to move from work to the full time trading? Thank you very much for your post! Circling back to this...which personal page? Wow that way over my head. Lol. I just have a cash account with TD to trade options and long term stock investment. Currently learning to trade options. Can you break that down in simple English? Lol A lot of what you wrote brings me back. I'm a former trader. I used to be with RBC on the derivatives desk. I'm in my mid 40s now. I left the business in my late 20s. I still day trade but Ive reduced it down to only swing trading SPY and QQQ and hedging with 2x Bull or Bear ETFs and the occasional VIX etf if I'm not entirely certain what's going to happen tomorrow. The last few weeks have been amazing. Good luck man. Few people are able to make this into a career. A lot of the stuff you read on Reddit are ridiculous lol. So then what’s your RRR? I dont really know because I tend to focus on small cap stocks with less institutional ownership ... But glad you are finding some success. I did! You might be overloaded now lol It would require large amounts of capital if you needed direct market access and were doing HFT (high-frequency trading). For your strategy, not at all. You need two things: 1) market data 2) order execution All the brokerages nowadays have an API that gives you access to both things, and it's free. If the strategy that is implemented in the system is the same as the one you are using, then both the capital requirements and the risk are the same as your manual strategy. Given that your strategy does not need to manage orders in a particularly complicated way, it seems to me that it would be pretty easy to implement. (i.e. if it gets a signal it sends an order and leaves it on until either the stop or the take-profit is hit). The pre-market criteria can be implemented as long as you can put them down in words and convert them into mathematical constraints. I would need to check, but I think that some brokers like ThinkOrSwim even have an API for their scanners, so it would be even easier. Without such an API, building a scanner is a bit more involved since the system needs to keep track of data from a large basket of stocks. These brokers also allow you to test your system with paper money, with order execution that is reasonably similar to the real thing. If you want to start, I suggest you don't go with C++ but rather choose Python. It doesn't seem like you strategy is so high-frequency that C++ becomes a necessity. Currently I'm doing well managing a delta-neutral portfolio of options, but I wanted to get into day trading too. If you want, we could collaborate on this project. I'm a software engineer by trade so I'm familiar with what would be needed and how the system would be deployed. Amazing. Thank you for your story. Now Let’s keep trading and make that $$$ lol I look forward to it! I made an account with Robin Hood. I guess I’ll start reading. After all the drama the Stros have been through the past 5 months...not sure I'll ever reveal lol Thanks for the quick reply! Yes I'm still getting comfortable with the idea of margin. From your example it sounds like you prefer to make trades above your cash balance to maximize leverage? I was initially reading about using something like 1%-5% of your account per trade. Also, I guess with a margin account you shouldn't really hold any long positions? That is if I want to buy any stock to hold for more than a day, I'll be paying interest on it no matter how small the trade? Am I going to be seeing pictures of lambos and jets? I didn’t get scammed by options alpha, I never paid them anything... > I remember when I used to try to measure in %. Yeah, being condescending isn’t a great rebuttal. > You don’t calculate the % then compound it when you pay yourself out of a trading account. That’s not the point. Let’s say you got a job flipping burgers for living expenses and lived super simply for two years and then reinvested all of the money you made trading. Your account would quickly explode into millions of dollars. That’s why you’re full of shit. What’s your sharpe ratio just for the sake of argument? PMed you Interesting, so effectively just three candlesticks overlapping slightly to confirm a trend reversal. I'll have to try it out. And you do this on a short timeframe I assume as a daytrade method? Thanks man! I appreciate the info very good, i also use patterns, but not only one, and not any known pattern, when i started to learn some patterns i found out that there are alot of them and that i would need alot of backtesting time to find the best one for me, so instead i just try to understand the emotions of the market by looking at the patterns that the market created, does not always work, and it does not always fail... Understood ;) I used to sell at target, but then I realised: why dont put a stoploss in target?, and follow the equity a bit more time for a ""bonus"", anyway you have already assured the profit. But I understand what you mean. I tried to say ""since you are not holding overnight (and therefore you're inmune to day-to-day gaps), why dont squeeze the operation"" :D HFT is completely different than your strategy, from my understanding you maybe make 0-3 round trips a day on average based on your system. I would gather it shouldn’t take too long for someone proficient in coding to code it, hell a coder would probably be happy to code it for you if they also got access. If you had a quasi money printing algorithm a coder just coded an asset. What would you recommend for a beginner into the stock markets? I basically just joined because my friend gifted me a few shares and I got a free one for signing up so I didn’t spend no money yet. Whats ur handle?. Ten years means shit in this market lol. Today I traded AC - air Canada from 14.50 to 16.55 on a two day hold then shorted at 17. Only to watch it yo-yo. Covered at BE. (3 buck loss) timing shit is stupid right now lol. Dude right?! So true hahah I went through his posts. Don’t mind him He spent more time trash talking the post than he did on his attempt to top this post talking about •I trade a little bit of this little bit of that •some penny stocks (lol) and some mid cap •profitable OP of this post is just giving them tactful responses. Like you really think a succcesful trader is going to write an entire book’s length comment on shitting a bad strategy? Lol [deleted] Nice reply. I can tell your military discipline is coming through, sir. The graphics cards are cheap so I spent the money on an i9 9900k and more RAM. I figured I’d be managing lots of my savings into a business that many cut corners to get into and wind up failing. The few extra hundred bucks are worth it in the grand scheme of things Very misleading IMO. He says he doesn't use indicators because they lag, but then immediately contradicts himself saying he uses candlestick patterns. I hate when people contradict themselves. Yes, sir! I can emphasize with this so much! Also the discipline required to eat the punch when the trade goes against you and not to take it personal! That’s the business Like I mentioned, trading is easy, the discipline isn’t. Nobody is over your head managing your capital except the trader himself! Good for you man, that’s awesome to hear. Keep at it and you’ll flourish! That’s in the works man. Didn’t think the post would blow up like it did and I’m doing my best to keep up with the replies If you have any questions feel free to chat me man! I’m funneling everything to that in order to filter out people who’ve got pressing questions as I’m most likely going to skip out on comments like yesterday! I rather read a book written by this guy 😂 HAHAHA! That was funny! Trading the open I look for the pattern in the bias of overnight gap direction. If the stock is pulling back all day I will erase it from my watchlist to focus on higher caliber trades that are far more conducive to my criteria I don’t want to get lost in the comments like I did yesterday. It got pretty hectic so if you ever have a question or what a little advice or me to review a trade. Send me a chat anytime. I’ll talk trading all day! And go ‘Stros! Depends on what week/month/quarter you ask. As of right now I’m paying myself 2500 net. (Setting 30% of profits per month aside for taxes) I do personal training on the side. I’ve watched a couple of their vids after people have contacted me on here wanting my input on them. Nothing new in trading. Their “3BarPlay” is an ascending triangle in candle form also known as a 1-2-3 continuation. Their “buy set up” is what’s known as a “green (or red) bar reversal”. You can search those patterns on TradeIdea’s list here: https://www.trade-ideas.com/Help.html Go to the link and type in “1-2-3 continuation” and “green bar reversal”. The patterns he teaches are well known to price action traders The owner has a good approach to the “treat it like a business” mentality though! Oh yeah! I’ve recorded trades but it makes the cursor blink a lot and glitch here and there. With my money on the line I’m not a fan of it. I’d be interested in something like that. But to do it every trading day? No I’d be up for that on 1 specific day of the week ever week or every other week Highly considering it! Doing my best to respond to all comments and chat requests at the moment! I’ll definitely look into this! Thank you, sir This is going to be a very stupid question, but my brain is reaching a block it absolutely shouldn't be reaching for how simple this math is. Do you just crunch the numbers real quick every time you're going to jump into a trade, or do you have a calculator you can plug share price into that spits it out really quickly? Sometimes the speed at which the trades move boggles me when I'm sitting and scratching out math. Hi, thanks for all the info very informative! I was wondering generally how much money do you put into each trade? How do you get 45 trades x $300 and not $3? Assuming in this example the 100 trades put on are all ones that have good buy indicators, so that leads to the 45%/55% breakdown. But what do you think would happen if you placed 100 trades randomly and automatically sold at either $99 or $103? Do you think the win rate would be much lower than 45%? I understand the odds, I wanted to know how you can see your odds in stocks! Hindsight I see 5:1, 7:1 and 10:1 a bunch. Over a long series of trades 3:1 is the most profitable. No scaling (for me. I know of traders who scale in and out and even use dollar cost averaging). If I scale half out then move to break even then get stopped out I am at 1.5:1R. 3:1 is plenty for me. There was a point 2:1 was like pulling tooth and nail for me a while ago I guess that nets him less in the long run. It's all about large numbers and statistics. Op applies discipline on a very admirable level. I learn everyday man! Just crystallizing my strategy I’m comfortable with. I’m inviting anyone wanting to chat me because I’m getting lost in the comments Always set OCO bracket orders. You, your reaction, or your fingers are not faster than a computer. And yes, happens all the time. I don’t care for individual trades. After you’ve gotten 1,000 trades under your belt. One loss won’t break you. I’m managing my edge in the end. I know 3:1 may have a lower win rate than 2:1 and 4:1 may pay out more on a profiting trade. But overall. 3:1 pays out the most hence that’s what I demand out of every trade I too trade gaps, most do. Analyze your historical data and trim the fat Take notes, my man! Wow, this post was sounding awesome right up until he recommended Andrew Aziz who writes complete fluff no nuggets' nothing that is not out there in abundance. His main go to is ORB yea opening range breakout. The only people who like Aziz have only read his book and know nothing else. That’s a great question! That first 15 min hi-lo strategy is great for beginners. It just won’t provide precision entries and exits. The 5m is the most powerful timeframe for my strategy (backtested) I don’t want to get lost in the comments like I did yesterday. It got pretty hectic so if you ever have a question or what a little advice or me to review a trade. Send me a chat anytime. I’ll talk trading all day! You can use TOS OnDemand (not in paper mode) to simulate trades back in time at whatever date/time you want, and see how the results work out. Reset and try again. Also with about >$500 in the account, you can ask them to turn on real-time data in the paper account to test doing it live. OSX is the operating system used on Apple computers. I also have an iPad and an android I can use I got virtualbox a few days ago and I've been runnin an unactivated version of windows 10 cause I'm cheap. Hopefully I don't run into many problems. Things seem pretty smooth so far Yes, sir! Real quick man I’m gonna start getting lost in questions/comments like yesterday if you have questions or send me a chat request. I’ll be responding to everybody PMKT is PreMarket. And what do you mean by technicals? I don’t use indicators and I have more fundamental prerequisites than I do technicals. The fundamentals basically give me liquid stocks that behave in a consistent fashion IF they hit my PMKT criteria. Technicals. I just look for stocks gapping to support or resistance levels. Then I wait for 1 of my 3 patterns to form there Lol! I jam out with super loud music when I trade. I’m head banging for a good chunk of the day, chat rooms are great for people wanting to see how others navigate the market I’ve never looked into TradeNet. Paper trading absolutely! I started live with very small positions in the beginning and my commissions and fees was higher than my P/L my first 2 quarters trading! I don’t want to get lost in the comments like I did yesterday. It got pretty hectic so if you ever have a question or what a little advice or me to review a trade. Send me a chat anytime. I’ll talk trading all day! You’re good man. Scanner: Trade Ideas Broker/Platform: TD Ameritrade/ThinkOrSwim Analyst life! Fun job! I took my first real day trade back in 2015. Literally 1 then figured no I better not. (Was in the Marines at the time). In late 2017 when I was working as a logistics planner for SLB, I went ahead a trades the morning once a week before work (11-8 schedule) As an analyst for the next company, I was getting to the point I couldn’t stand work, I had been working since I enlisted at 18. Had lots saved, so I on my work from home days, I would show that I was online/in a conference for the majority of the morning. Then I’d send out the typical “Hey my apologies for the late response. Things are hectic in the warehouse/Finance/QC blah blah” If you work hard, your blunders will be excused I went full time September 2019 when I had been day trading right at 2 years Lol here’s an ELI5: 5% of retirement accounts are self directed. (People who manage their investments/trading) Of those who manage them. 25% are over 7 figure accounts. Meaning. If you want to be wealthy, learn to trade/invest yourself Glad to read that my current situation is emulating a seasoned trader! Thank you for the comment, sir and likewise 47% win rate. 3:1 pay out 10 trades per week on average. 9R weekly Hey man I never got a grasp on those! Different strokes for different folks. Whatever works for the trader, run with it Alright shoot my a PM. Meet me at Memorial Park with a mask on and let’s throw Not here to prove anything. Take the advice or not Wasn’t condescending, just like the post, giving advice in my experience. Not everyone’s out to get you Have a safe weekend, pal Are you serious? You risk $100/trade. If you constantly increase your risk, you’ll lose more in a week of drawdown. He’s not reinvesting compounded returns. Sometimes you lose $900/week. Sometimes you make $1700/week. On average 8R weekly. That’s less than $50,000/year. I can tell you just got into trading recently. Yes. The pattern works on all time frames although since I tend to be on the impatient side I elect to execute on the 1 and 2. The 5m can be tough for me still even after 2 years I used to do that. Putting the new StopLoss at my target but then realized it can get stopped out just from the candle breathing making me have to micromanage the trade taking my eye off of other opportunities. I’ve got lots of buying power so I’d like for my DTBP to be available. Not sure what you mean by squeeze the operation, haven’t heard that I’m interested Ah! Well until the coder comes to me, I’ve got bills to pay, I’m not looking to fix a window that isn’t broken. I know it is probably easier and more profitable. But I’ve glossed over algorithmic trading and small things can blow up an account. I’d like to start building my nest egg with the sources of income I have right now (consulting, trading, personal training. I’m putting small amounts into my IRA, writing covered calls on stocks I own to grow the IRA) then maybe I’ll look into it I don’t have the health insurance, and trying to learn a new thing rn wouldn’t be in my best interest Send me a chat, I always get lost in these comments Lol! I’ll give credit where credit is due and I for sure won’t disagree with someone without providing solid reasoning. Great job on the winning trade by the way! Takes a lot of courage to hold overnight in this market! If you risk $100 to win $300, and 47% of the time it hits and 53% it doesn't, you come out ahead. This is very common in math and probabilities, for example in poker and investing. So when you say, ""it actually wins"" what do you mean, either can be a winner or a loser depending on what the risk and reward is. Thank you, sir! The “sir” is a Texas thing but I suppose the Marines incentivized the negligence to negative/unconstructed criticism! Sent you a message. You'd be welcome to join the groups I frequent, reply and let me know if you want a link. We don't really take fresh traders. One group is trader safe haven/shoot the shit and the other is where we scalp. Obviously not much need of learning for you, but it's an educational group too. Go stros! Going to miss Hinch :( I honestly thought great traders could make 150-200k per year. Is that not the case? He mentions R multiples, sharpe ratio, and batting average in some of his videos. I see you read Andrews Aziz'z book(s), thoughts? [deleted] I’ve been asked this question more times than I can count, and it’s not a stupid one because even I had a trouble getting this skill down. What helps is looking knowing your risk. Let’s say $100. So automatically if my entry and StopLoss is $1 apart from one another. I will enter for a 100 share position. Over time you’ll start being able to realize after months of trading, “Ok. NVDA. $250 by $249.70. 330 shares” (330 x .3 = $99) Or Ok stock XYZ. Entry is $35. StopLoss is 34.57. $100 risk. 230 shares. It’s a skill you’ll acquire overtime. When I see my pattern printing. I’ll wait until the final 10 seconds of a candle forming to calculate my position. I set my brackets/stop limit orders. And the computer puts me in whenever the price is met Happy cake day! Risk or capital? $100 risk every trade Each trade is up to $100 loss and up to $300 win. To take [their other example](https://www.reddit.com/r/Daytrading/comments/fw82ow/after_2_years_of_daytrading_7_months_full_time/fmnc0nv/) of stock XYZ that's trading at $35 and stop-loss $34.57: > Ok stock XYZ. Entry is $35. StopLoss is 34.57. $100 risk. 230 shares. \- If you buy 230 shares, they are worth $8050. \- If the price goes down to $34.57, you lose 230\*($35-$34.57)=$99 \- If the price goes up to 36.3, you sell and you earn 230\*($36.3-$35)=$299 If you do 100 of similar trades with 45 win / 55 loss ratio, you'd on average earn 45\*$300=$13500 and lose 55\*$100=$5500, for a total profit of $13500-$5500=$8000. Note that each trade is different in terms of share. In the same comment, they mentioned: > Ok. NVDA. $250 by $249.70. 330 shares For this trade, stop-loss is at $249.7, thus if the price goes down there you lose 330\*($250-$249.7)=$99. If the price goes up to $250.91, you sell and you profit 330\*($250.91-$250)=$300. The math is simple, the execution not so much :) risking $100, not investing $100 ;) It boils down to if all of those trades have the same constant. 100 random trades at the same time? Even if the trader could afford it then no, different edges, entries, stocks etc would not yield it in my opinion He talks about backtesting so I would assume that he is talking about modeling and model testing Cool, thanks for taking the time to explain your reasoning! How do you go about backtesting? Any books or resources you can recommend? I've pretty much only ever tried things in real-time along with lots of analysis and studying on the side. I'd like to formalize my testing to a greater extent so that I can analyze my results and strategies in the way that you do. I've become consistently profitable, but I think it would be a bit less stressful if I had a better understanding of my stats. This! This is exactly why. Hindsight I see my pattern return 10:1R a decent amount of times. But in the trade. 3:1 is asking for a lot. Nobody knows where the stock is going to go so 3:1 I take my profit and run. If it runs, I don’t care. It’s about the series of trades in the long run And thank you for the kind comment! I wasn’t disciplined in the slightest respect starting out. There was a point holding 2:1 was like pulling hair and teeth Messaged ya! Thanks That’s the plan. Can’t wait to dive in! Also, any suggestions on a good simulation platform to learn on? Which books would you suggest to read instead? Really appreciate your willingness to help man! I’ll def take you up on your offer of a chat one of these days. Stay safe and good luck with everything. Ah! Very cool. I know Trade Ideas works great with Apple Plenty of volume sellers have copies of Win10 for around $20 for valid licenses, just shop around. I meant any kind of technical. ie candlestick patterns, wave patterns, fib retracement, pivot points, etc. You kinda answered though! So you basically look at the daily, set s&r levels, then maybe scale down to 1h and trade from there? Which kinda of patterns do you tend to look for? I am a member of bbt. As you said, it can become boring. A chat room with like-minded people can be fun. And you are learning a lot from others' mistakes. awesome that sounds great. very informative post. Thanks!! Lastly, do you mind if I PM you to take a look at your business plan? I understand if you don’t want to to send it to a random person but that sounds really interesting to and I’d love to see it!! Thank you for sharing! Looks like you managed to work around it pretty good! I actually love my job, I just don’t like to depend on the people above me. Plus the idea that you don’t have to be tied up to one living place is really appealing. Maybe I am idealizing:) One more question if that’s okay. How did you find a mentor for yourself that you mentioned having one in your post? Not bad Is there a reason you only do 10 trades a week? > On average 8R weekly. That’s less than $50,000/year. I would love to see your math on this using $100 risked per trade and 10 trades per week. Hint: it’s much more than $50,000/year. > I can tell you just got into trading recently. Bro...you have a post asking if you should use illegally obtained amphetamines to give yourself a trading edge and another one saying that you had a net profit of negative $25k from trading in 2019. Stop trying to chase the myth of making money daytrading while you still have some capital to invest. Yeah I'd think I'd be the same, I can imagine waiting a while for this even in smaller timeframes. Any particular securities this tends to form on / be successful more then others? With ""squeeze"" the operation I mean: In the case you reach the target, you put a stoploss in target, and you move on other opportunities. Later (maybe 1hour or half), you quickly check the past operation, if sold ""Nice, I reached the target""; else, upgrade stoploss/sell, i.e. at 330$ profit, 360$ or just 305$, and sell (always) before market close. But in any case, doing it unattended, no need to micromanage, just a quick check every 30 min, as said there are two scenarios, win at target or target+bonus :D Hope I have explained it well. ​ Edit: If you are betting your balance in a single operation with a max 100$ loss, or a 300$ max profit, obviously you cant check for other opportunities until you close the current op. That’s fair, and wise. One day you might have the code run simultaneously as you are trading and just don’t capitalize the algo beyond 5% of your portfolio and then review each day/trade after market hours to see how it trades versus you using your own strat. [deleted] Hey, man I really appreciate the invite! Currently have over 100 chats and messages Could you invite me please? I’d love to just sit back and learn from the group. So wrong how they canned him. I’m a statistics guy and I played baseball for a majority of my life. I am willing to bet a large sum of money that the people who want to throw the book at the Astros and Hinch can’t even hit 1 out of 10 Two-Seam fastballs if they knew the exact spot Pete Rose even said knowing the pitch can be dangerous if you’re expecting an inside curve and it winds up being a heater straight to your ear. You can’t tell what pitch it is until it’s past the point of no return Give me $1,000,000 and I’ll return 150k in a quarter haha. Turning a 30k account into almost a quarter million won’t happen based off of a consistent strategy/pattern then put into a predictive model Thus far using a predictive model I’ll ~double/double and a half the account ... in a year. Turning a 30k account into 150k? I won’t lie and say I can do that especially after trading for a couple years R, sharpe ratio, BA/Win-Rate are all widely known in trading. None of his material is original or new https://www.investopedia.com/articles/07/sharpe_ratio.asp See also Sortino ratio. X:R is algebra. If R=100 then 3R= $300 Andrew Aziz’s books were probably the best books when it came to strictly trading from a cost benefit perspective, his $13 books outweigh any “course” you’ll buy. I’ve had lots of people come to me saying how they got ripped off by “educators”. LiveTraders being one of them Haven’t made one yet! Send me a chat and when I make one I’ll let you know, brotha This is immensely helpful. Before I get too deep into methods I am just learning, I'll ask this: If I am trading penny stocks, does it make sense to enter trades with the mindset that I want to gain $75 or lose $25 (for example) *every* time, and then adjust my position size accordingly to meet that goal? I am getting better at identifying entry points utilizing support/resistance, price action, indicators, etc...but then I am still making arbitrary decisions regarding amount of shares, appropriate reward/risk, etc. **My reasoning:** If I set the -$25/$75 rule (or whatever my tolerance is), I basically have to size a position deliberately to 1.) Meet my available capital and 2.) Determine a reachable stop loss/limit based on the appropriate time frame's price action (otherwise I'll never sell on either the high *or* low end). Hi there! How do you predict price Action vs volume? In other words how would you know to stop loss XYZ (from above example) at 34.57 w/230 shares and not stop loss at 34.50 w/200 shares? Thanks for sharing knowledge! Capital, do you put like 1000$ into each trade at a time? Thanks for the clarification. I’m missing something here. Where is the $300 from? Hey man I’m trying to get everybody to ask questions via PM so I can make sure I answer any questions. As far as backtesting, I would suggest learning a strategy then going back on the charts and seeing where it pops up! Document everything. How to day trade by Andrew Aziz is a great foundational book Yo! So I’ve got my money’s worth out of this post and I’ve officially become lost in all the comments on here. PM me, makes it way easier for both of us! TOS has a great simulator! Bookmap will let you do simulated against live data, and a number of order flow platforms will as well. When you want to get into trading any book about it is interesting at first but you will slowly realise that it's all just talk. like reading a book called 'how to play the piano' haha. People think they can buy a system or learn a system like a chicken that lays golden eggs ;P Yes, sir my pleasure! No luck, just statistics. Remember that! Best wishes and cheers 🍻 Gonna get to it. I briefly checked the site. Which subscription are you using? Or is there a free version somewhere I overlooked? Patterns the best I can describe it on text is. If it is a bullish trend. I’m waiting for a pull back. That pullback must be smooth with the same size range bars with volume decreasing. My entry is upon the break of final pullback candle I guess the best example on google is if you search “3 White Soldiers or Black Crows”. That’s really it Couldn’t agree with you more! Thank you! Chat me anytime, brotha No problem man! I wish you the best for your family! As far as mentor/consultant. I networked here and there! In person and online. I don’t want to get lost in the comments like I did yesterday. It got pretty hectic so if you ever have a question or what a little advice or me to review a trade. Send me a chat anytime. I’ll talk trading all day A very strict criteria. I require my pattern to form at specific price levels. More often than not, I’ll see the pattern from but an an undesirable price level intraday. Sometimes I’ll see the price level in my range but no pattern Or I’ll see the pattern form then it breaks bearing/integrity last few seconds it’s printing I see the pattern form all day but I’d rather take fewer reliable trades than fire off trades all day I don’t want to get lost in the comments like I did yesterday. It got pretty hectic so if you ever have a question or what a little advice or me to review a trade. Send me a chat anytime. I’ll talk trading all day! You’re compounding OP’s returns as such: ((1.04^52 weeks)-1) x capital. You’re not accounting for bad weeks or good weeks. Risk is constant. Not increasing it Flip a coin 10 times you might get 10 straight tails. But over 100,000 flips it’ll even out to 50/50. Care to show your math? As far as fundamental criteria I like my filter to give me a market cap over 2billion with an ATR over $0.50 with over 80% institutional ownership I understand that! When I did that I would call it “choking” the profit. It’s awesome for those who are able to manage it and I commend those who can. My personality isn’t conducive to it. I’m very impatient. Win or loss in and out. Perhaps I’d make more and perhaps I’m complacent with my current standard. It’s an income for me so I just keep it for the guaranteed profit without adding responsibilities throughout the trading day It’s a great method I agree. But for stocks like FB, or BA, etc. I could be in a 70k trade in buying power leaving me with less than 50k in remainder buying power. I’ve had that happen to me. Can’t remember the exact result but I know I missed more opportunity It’s a great plan and it runs across my mind occasionally though but it’s way way down the line You can paper trade algo right? What commissions? Pretty sure OP takes into account slippage. I see you trade penny stocks. OP trades large cap. Even if he’s giving up an entire R over slippage, 2:1 still pays out with a 47% win rate. How much slippage can you incur on a $100 risk a few bucks? 2 years of trading I’m sure OP has taken that into account. Yeah, I hear ya :) I think when you get successful, things get noisy to say the least. Ours is maximum noise, but also includes actual talent (a few other day traders and hedge fund managers, etc). Consider that an open welcome if you ever change your mind :) I'm about last step or two away from going full time as well. Just a matter of time accumulating funds now, target was EOY. I apologize u/Bruins14, but I don't know who you are? As you are not u/CJT2013 . Are you looking to learn day trading? Are you actively day trading? What do you want to do and what do you want out of life? Are you aware of the implications of day trading? This is not some simple thing. People take this far, far too lightly. It took me almost a year and a half for my wife to even wrap her head around saying she'll support me doing this for a living, and I'm still not full time yet. This changes your life, but not all of that is for the better and not all of it is simple. I accepted the bitterness of this path up front. There will be PLENTY of hard times. Two things are guaranteed: you're going to start hating a lot of people, and you're going to start alienating a lot of people. You're also going to hate yourself, because trading is you versus yourself first and foremost. CJT is one of the nicest I've seen and I'd happily pour em a drink, but I can guarantee a ton of people would see CJT and think ""what a tremendous asshole"". I know people from the second I know them, and I know that vibe. And it's \*rare\*. I don't even like to extend the offers to anyone on reddit to join my group in general. Out of my group of 100+ people, there are 4 I would offer a drink. You have to realize traders are indeed tremendous assholes. I know that he knows how the jealousy is. When you get successful a lot of people who you thought were friends suddenly aren't. I get people all day long asking me to trade their money and I personally want nothing to do with it. I share people what I'm doing and sometimes they profit and sometimes they don't. It's amazing when you try to help people. You either have the capability intrinsically or you don't. I guarantee a ton of people think ""oh, I can copy what he does and I'll be rich too!"" and don't understand the implications of what he does and/or the system therein. That's chasing lambo mentality. Hard work is the beginning, not the pinnacle of what it means to make this work. The harder I've worked, the more I'm humbled by all those before me. The more I've learned, the more I've noticed that I'm just relearning things that other people simply knew before me. I discover new things people have forgotten that have been created for 50+ years and people think I'm the genius? I don't even deserve credit for making it work. *We stand on the shoulders of giants.* A lot of people do not understand the effort that goes into learning this, and a lot of people do not respect it either. When I say it is a tribe, I'm not kidding. I was warned of it upfront. So I'm passing you the same warning. I'm not saying this as some sort of ""Secret club thing"", but we don't do what we do for reasons of greed. Money follows what we enjoy doing, and we don't chase the money. I do this for the challenge. If it wasn't challenging, I wouldn't do it. That's my drive. I specifically counter-trade when even my colleagues are afraid to do so, because I can. Just to show them what they're capable of. The rest of the time I don't counter-trade, because that's stupid. So before I invite you, I have specific questions that I asked up front and will reiterate here: * Are you looking to learn ? * Are you actively day trading? * Are you aware of the implications of day trading? * What do you want to get out of day trading? I appreciate these requests, but I don't have capacity to add on more people right now that want to lurk n learn. I was more trying to bring someone who already knows, because it's a shoot the shit room/safe space. I appreciate the honesty thank you, I’m new to this. So it sounds like it’s not realistic to make 1k per day with 50k is that right? I see guys like Ross Cameron seemingly making 4-5k per day so it’s hard to know what’s possible and realistic. Oh yeah it's well known, I wasn't saying you got that info there, just that he mentioned it. I also found Andrew's book a good value. 3:1 doesn’t work for everything across the board. Personally I’ve manually backtested my strategy for a long time. 3:1 pays out the best for me. Sometimes 1:1 has a win rate of 80%. The higher you demand out of your R, the lower your win rate will be. If that doesn’t help explain it, PM me my man, I’m getting lost in these comments haha The idea behind 3:1 is it defines his sharpe ratio. It's not like you can't do 5:1 or 1:1 depending on the accuracy of your setup. I have one setup that is accurate around 80% of the time, but it'll get stuck if you get careless and forget. Apparently exactly as he explained below. Hi Wine of the Andes. I am also just learning and I am doing pennystocks. I am learning risk reward but it does not seem to work with pennystocks. Like when they are running, I do not know how far they are going to go or get dumped on you. The thing that I am learning right now is not to bag hold anymore. As soon as I can see in time and sales and level 2 that the price action trend is turning against me, I sell. I no longer wait thinking it is a pullback. I ended up bag holding a bunch of stocks because of it. I am making myself comfortable on the thought of getting out with a loss accepting I am wrong and get back in again later if I can see patterns again on my favor as opposed to waiting and hoping. How about you? Any tips you learned about exit strategies for gap and go and momentum runners? Well if my entry and stop loss is $3.50 on TSLA, I’ll buy 30 shares. If my stop loss is $0.10 on ROKU, I’ll buy/short 1000 shares. Same risk of $100 each trade, but I had ~$17,000 exposed in TSLA and ~$70,000 on ROKU if you are risking $100 with 3:1 pattern, your goal to make a profit is at $300 I don’t disagree, at some point you need to actually start trading. But you need to learn the fundamentals first. That’s what I’m asking. Which book is best for that. I have the elite version. Paid for in full. It’s a cool software man, let me know if you need help with it, it’s a fun set scanner Very familiar with those they're candlestick patterns that are reversal indicators. Hmmm so if I'm readin you right, then you wait for the market to develop a trend. After it develops a trend you wait for a pullback that ends with a 3 white/black and you use this as an entry point? hey there! quick question, do you generally use the 5 minute chart or the 1 minute chart when analyzing the candles? Thanks again. I’ll give you a follow if I have any questions. Day trading interests me and I’m just learning playing around and making mistakes on Robinhood. So far I’ve learned I need to control my emotions better if I really want to get into this. I want to flip out of my position the second I see red lol Ugh. I understand how a binomial distribution works. Anyways... 9R means for every $1 you risk that you get $9 in profit. OP claims he risks $100 per trade, ten times a week. That is $1000 risk per week so $9000 profit per week. That is $468,000 a year on a $20,000 trading account (he says $100 is 0.5% risk Kk his account). Yeah I think there are a lot of software packages for back testing algos too. [deleted] Best wishes to you man. It’s a wild ride, rememeber to stay busy outside of trading! Cheers Hey not op but thanks for this long write up its eye opening and helpful for someone like me entering the business. Honest quesiton, do you think being an asshole makes a person a better trader? If so what part of being an asshole (I guess what personality traits) help achieve that? And since you are obviously taking this sk seriously do you have a book recommendation related to trading and psychology? I ask every internet stranger I perceive to have good trading exp this same question because that is my greatest interest and weakness and what I think of as most important part of trading. Thanks for your time Could you please send an invite to me as well. I currently day trade stocks, options, futures and still learning. My plan isn’t as great as it should be and I would definitely like to get more insight from more knowledgeable people. I’m aware of the full potential of an account blow up and the needed safety net to get by. Which is what I want to get out of day trading. The ability to have some certainty in an uncertain world. This quarantine has showed me that having a skill such as day trading could free me from the daily wear and tear of a 9-5 when things could go south. Thanks. [deleted] After 7 months full time I am still learning and I don’t think I ll ever stop! I ll get stronger and i ll make a request to you I’ve made a grand on a trade before (scroll down my page) ROKU short on 100 shares September 20th, 2019. This is before I realized the importance of taking target and moving on. Doesn’t happen everyday. And not for a long time will I make that in 1 trade. As I take profit at 3:1 risking $100 every trade. I know that roughly 50% of the time I will hit 3:1. The winner override the losers 1k a day is realistic... everyday consistently? No. There will be drawdowns. There are weeks I’ll make 2 grand. And there are weeks I lose 9/10 trades. It’s about your RRR and win-rate. Your **one** edge that works and input into a predictive model to give you the confidence to trade it. Trading that edge consistently and flawlessly is where youll profit over a large series of trades Some weeks I’ll be able to retire by 35. Some weeks I’ll be bankrupt in 2 years. It all balances out to roughly $900/week. Trading with an account just under 30k. Pay yourself and put that money into a long term vehicle. Pay your “employees” (you). I’ve yet to see a “guru” or “educator” teach these principles. That’s where it becomes a business When these “coaches” start showing licenses in any realm of investing or business is where I’ll perk my ears and eyes towards them. Until then, all noise Absolutely I agree How do i back test did you use software? And I've also been trading for 2 years only starting to get a hold of myself my main problem is over trading... how did you actually invent your stratergy, obviously accumulation of knowledge and experience but if you could give me a step by step, to creating a stratergy & risk management of how you did it. This is the step i am struggling with. I trade patterns (generic ones like pennants, wedges ect) but generally on a 3 minute interval some times other time intervals, i prefer the 3 minute and thrkugh my vroker IG markets I cant back test manually because for a 3 minute vhart only goes back like 1 month they dont hold the data so where did you get the data from and yeah would be nice to optimise back testing but i back tested once with programmer/software engineer and he used AI and ML but the stratergy was super simple using RSI and he was the lead software engineer for cash converters he was unable to build something to test patterns so yeah please any advice, is much appreciated. And are you going to restructure your trading stratergy with a new bull market as I've read each bull market has slightly different charwcterisitics Kind Regards Hi, is there any tool you will recommend for back testing ? Or you do manually ? Every trader should get comfortable with this chart, Risk:Reward versus Win % to break even: [https://www.newtraderu.com/wp-content/uploads/2015/01/RiskReward.png](https://www.newtraderu.com/wp-content/uploads/2015/01/RiskReward.png) Gotcha thanks for the info, looks like I have to save up lol I have about $12,000 with a cash account any recommendation? What exactly do you mean by fundamentals No doubt. I'll definitely be hittin you up if I have questions. Now besides backtesting what else do you use the software for? Best advice I can give is manually backtest and then trust the edge. Adjust overtime 3:1 is $3 profit for every $1 risked. Obviously you don’t understand the lingo. His R (Risk) is $100. With 3:1 RRR. You profit $3 for every $1 you risk. So let me ELI5 you really quick. Hope you understand algebra. #On AVERAGE OP makes 9R per week. Sometimes -3R. Sometimes 20R... but overall he averages 9R R = $100 9R= $900 All that shit talk for nothing. Notice how you’re the only one who doesn’t comprehend that Honestly you should apologize to u/CJT2013 or delete your comment Also He recommends you trade no more than .5% of your account each trade. You can’t day trade with less than 25k and he has posted his trades and account statements in comments before on this sub. He has well over 25k Ok bro I’ll take your word for it 👍 😂 I see you also have the never sleep part of the daytrading down pat as well. :P If you ever end up in the Chicagoland area as a result of a trip, hit me up for a drink sometime. Daytrading is what I consider my tribe, just not most of the reddit kind :) Okay so I appreciate these questions, genuinely. I'm about 99% towards going full time now, so this is timely. I want to be full time more than I'm ready but my systems are in place and are set in stone now. That took me a long time. Obviously current us environment is ideal for becoming full time because it's a job you can't be fired from (though you can lose all your money!). So, I don't think being an asshole is understood with trading, it has two forms: 1:who you are and how traders see you (internal) 2:how everyone else sees you For #1: you will naturally get aggressive to some degree with successful trades. Imagine if you tripled your money. Are you going to be headstrong? Yes, yes you are. Traders know how this is because you'll argue more and possibly tilt them. Did you get a triple because you followed your system (yay), or did you get lucky (forming bad habits)? Etc. Did you lose from system correctly stop-loss-ing in whatever form or did you lose because you violate your system? All things matter. You're also going to butt heads against non traders or people who don't trade your style who will laughably tell you that you don't know how to trade. 😂 I don't have a lot of sympathy for those groups. 2: because you become in tune to market psychology by definition, you are not on the same wavelength as everyone else. For example, we have a massive recession looming eventually but where are stocks going? Through the roof on many. Including ones that dropped 50-80%. JCP had multiple green days in the middle of celebration of *bankruptcy*. A few friends and I took small profits just for laughs. So you learn not to panic from press releases or doom and gloom, because you want profit travel. IE: you want to buy at a and sell at a+more. You don't want to buy at a and sell at a+ less. 2, extended: Instead you get people who say things like btc 50k today or 1920s recession tomorrow. Or things must go up or down instead of that they can go up/down/sideways. Or that people don't fucking matter because market makers move price where they need and they don't care about retail sentiment. Or people who live for cramer/seeking alpha/wsb/Zacks/etc. That retail doesn't matter scares non-traders who think everyone likes/buys APPL and doesn't know that it's just a stock ticker with no intrinsic value to hold a share. People who also want a quick buck, have no patience 100% of the time (traders all have days of different patience quantity). People who believe in buy the dip, who are so bagged it's laughable because they won't take a loss but will miss 800000 moves because they're holding forever until things become profitable again. How many times can you profit $10 while waiting for a $30 stock at $5 to return to $30? That's the difference. The correct approach is step away in the green, not when you have a small loss. Cut losses. They happen. Feel bad from a loss? Suck it up and keep trading unless you're sliding into depression/anger. A book I heavily, heavily recommend is volume price analysis by anna coulling. It was the start of my journey and sets you ahead of another 10-20% of successful traders who get caught on a big move because they didn't learn about volume and why volume matters. Aka price action traders. It's $5 on Amazon. It's great for the psychology, read it like you're obtaining wisdom from a genius. Read and reread parts you don't understand. Trading for a living from elder (free audiobook YouTube) or the aziz's day trading for a living are well received by many people. I'll msg ya group links so you can learn and discuss. This is some thread necromancy fucking garbage. It's a common mindset you obviously don't understand. Fuck off, troll. You know nice people from your vibe if you're a trader worth a damn. When you're ready we shall be also. Really appreciate the great info, thank you! Do you think if you used 60k instead of 30k that your profits would be consistently double or would that not be the case? Hey man, send me a chat! That’s a solid question and I don’t want to get lost in the comments like I did yesterday. It got pretty hectic so if you ever have a question or what a little advice or me to review a trade. Send me a chat anytime. I’ll talk trading all day! You’ll have $24,000 in buying power. Once you have $25,000 cash you’ll get 4:1 on your money meaning you can buy 4x your account intraday I suggest a margin account man, takes 3 days to settle after buying shares anyways If you’ve never day traded before you need to learn, terminology, different types of strategies, equipment needed, etc. before you can get started. Ask away man, I comment on lots of posts on this sub, I’ll be here. PM me man, I’m getting lost in these comments! Lol 😳 If you average 9R over a year it doesn’t matter if 51 weeks you make -3R per week and then one week you make 612R on a YOLO trade. That is an average of 9R and means you made 9R * 52 weeks on the year. Assuming you can handle the drawdown of course. I mean you can be condescending all you want but you clearly don’t understand how averages work... [deleted] Lol! Sleep is a luxury if the past. That’s what my weekends are for. And most definitely man. I rarely travel but I’ve got lots of buddies in the Marines I promised I’d visit one day. I’ll be taking you up on that offer, I love when networking results into face to face Whoa thanks for the write-up, really appreciate it and will definitely swing by the chat group later. I haven't heard that book but it's funny you mention price action traders because the PATs system was JUST recommended to me -- what are your thoughts on that system? If had to give a binary answer, is volume more important and better source of insight than price action? [https://priceactiontradingsystem.com/pats-price-action-trading-manual/](https://priceactiontradingsystem.com/pats-price-action-trading-manual/) \#1 lol at this I'm already doing this with my older brother.. an investor who thinks he trades. \#2 damn this hurts its almost personal cus its very true.. especially the psych part which is why im doing the focus on that right now, reading up on mark douglas' book. will definitely read Anna's book because I know how important volume is, i just need to learn it now. I did like Aziz's book, it's the first book I got and really good i think Thanks again catch you in the chat Hey, I know I'm getting to this post late. Really appreciate the info you're giving out. I shot you a DM. Just wanted to give you a heads up in case you're being flooded with DMs. I’d take bigger trades absolutely. And I could trade with 60k. But until a trader can prove consistency over longer than a year. I can’t justify if I’ve seen experienced a major downturn. Plus on top of that, if [when] I remain with the results. I’m in touch with a private equity fund mgr who I share my account statements with and he’ll be investing in me personally. If [when] I perform, he’ll be getting me in touch with others. 2:30 AUM payout. It’ll suck at first in fact probably the first few years but I’d love to have a company managing other’s wealth If you scroll down my page, you’ll see I asked several months ago what a series 65 will do and in Texas it warrants someone to trade OPM. Trading’s a marathon, I enjoy it and the freedom it affords albeit it can have its cons such as boredom and it’ll desensitize you a bit The problem with margin for me is you can only do 3 day trades a week. OK. The Market Whisperer by Meir Barack was the first book I read that put it into perspective and really explained it, I followed the guy for 2 years but after eventually turns out he's a fraud, but he does know how to trade and explains it well but it's just to lure you into his chatroom and sign up to his courses and open a trading accounts with him where you will lose all the money you put in. Not really at all Yeah, the guy who pointed me in the right direction (specifically didn't teach but said learn abcdefg) whom I hold high self esteem for, was the first person to teach/remind me that part of trading means you either a: get up in the middle of the night, or b: get up early every day. It's just some kind of thing that happens somewhere in the process, haha! I kinda turned into a 2hr wakeful period in the middle of the night before going back to sleep, depending on market activity/mental state on the crypto side. There's also definitely some military \*tie in\* for a lot of trading, my mentor was ex military (maybe marine, unsure/forgot) and I tried to apply for the army myself but even upper 90s on the asfab (finished in 10mins lol) won't get you past hearing loss during a time when it wasn't waiver-able without lying, which I wasn't willing to lie for. Price action works, but it misses volume. It's not wrong if it's the system you choose but you'll simply miss volume as well and some moves will get hit. Patience is key and so is cutting losses/taking profits. They're also somewhat inverse. Ultimately you develop your system and go with it. None are wrong so long as you can follow it 100% with your heart and soul. Even if that's price action or swing or scalp. You will take loss deviating from your system and gain sticking to it overall, due to consistency. Hang in there, seems like you are on the right path in getting to where you want to be! Where abouts in Texas are you at? I know this is an old post but I'm sure you'll still see this How do you find that 'edge'? As a beginner I don't even know how or where to start seeing these patterns. I don't even know what to look for Right. But regardless when you make a trade with a cash account, you’ll be waiting for settlement which is 3 days. It’s different strokes for different folks brotha if it works for you, keep on keepin on my man Yes, sir! Thanks for the convo. Chat me anytime man Houston. More specifically The Woodlands Pretty hard to explain that in a text message over Reddit in such a competitive industry. Trading is a language and takes time to grasp Send me a chat any time It is working out for now I can do average $3000-$4000 in day trades a day like that and I don't get stuck holding something due to possible pdt. One more question when you setup your charts to watch do you generally watch the 15m chart? Thanks again! If you're subject to PDT rules, you might use options (not more than three strikes out of the money, with at least 45 days to expiration) and then you'll know how much you are risking (however much you pay for them). You don't have to risk all the premium you pay, but sometimes it can be hard to sell them when the market is going against you." My Travel Setup Has Finally Complete!!!,2490,https://i.redd.it/txofnxt7x7h61.jpg,"😆 ""travel setup"" he says.. Proceeds to pull out 4 monitors, an elgato streaming deck, microphone, full size keyboard and mouse with mousepad along with a macbook. Edit: Would love to see what the main/home setup is like. A guy sure could get a lot of masturbating done on a setup like that. [deleted] [deleted] [deleted] Dude goes in an airport and takes up 7 trays going through TSA. kinda setup that should be returjing minum 20% or more consistantly for at least 5 years. Meanwhile I'm over here with my regular laptop staring at the screen like ""Why corn go down"" And here I am, trading a lot more than I should ever be allowed to, using nothing more than my phone. Very impressive! How much space does that gear take up in your luggage? All that for $Doge? You must be doing great GOALS Doesn’t look very portable to be honest. Looks great, do you mind describing the setup, specs, etc? That looks just like my setup minus the screen, hot keys, and mouse... You've got a single thunderbolt cable coming out of your mac. What dock/hub/switch are you using to connect all of the monitors? And are any of the 4k? And I'm sitting here doing it on my phone. Lots more for me to learn Phihix I see you ended up buying a stream deck!! I commented on one of your videos showing off mine and told you to get one haha. How do you like it? Do you use it much for your scalping or still mostly use the thinkorswim active trader? I don't get these setups. Do you guys not realize how to open/close windows? 2800% ???? Dude u serious??? How do you like the G604? I've been deciding between that and a Naga Pro but I really like the scroll wheel on the 604. I heard, though, that it's a pain to constantly swap batteries and that all Logitech mice right now run into a double-click problem eventually. As a beginner in the day trading world and literally just researching. Any words of wisdom? Or lessons learned you can share? Sweet setup by the way. Did not even know a stream deck was a thing. Thank you for sharing! As an aspiring trader and digital nomad, this is great to see. What is the mic for? Do you run any podcast or youtube channel? Please share if yes. What software are you using to view the stocks? Thank you! Edit: looks like you’re running windows. Was looking for a Mac friendly multi-window stock view. Here I am on RH playing with my thumbs. How do I get my robinhood to look like this? Must be a setting? I don’t know what I’m looking at, or what anything in the screens mean, but it’s cool. More monitors = more profits 📈 You don't lose money with a set up like that. Only guaranteed profitable trades. Looks like the [Aurora 7](https://www.pcgamer.com/this-laptop-has-7-screens-for-when-6-isnt-enough/) is being made just for you. Amazing set up Where and why do you travel) for fun or because of a significant other? With all the monitors and stream deck, I'm guessing your trades are fairly time sensitive. Do you have to worry about internet speed and if soz how do you validate it before you get there? Missing coffee Damn bro.... here i thought I was good with just a Note and a laptop. Nice setup! Get 4 more monitors. Table included in travel setup ? You better be making a lot of money bro. Me making consistent gains on my phone: okay...? With a setup like that, you still probably panic sell and have paper hands Strange looking iPhone Meanwhile my main setup is my phone. Lmao why the fuck Absolutely beautiful! Could you explain the reasons for each thing? u/Phihix I love how you are using Mac. Can you tell a little about your software setup? Are you using Parallels or anything like that? It seems a lot of software is for PC. I love the stream deck integration, I want to use a mac friendly broker that I can do Stream Deck with! all I need is an iPhone wtf Question, is there a benefit to these several little monitors setup I see posted often, even in desktop workstations, versus just one large TV screen that you can drag and size your windows on? Is there some graphics or technical benefit? As a beginner I just connect my shitty laptop to my large tv with one hdmi cord... The flat screen TVs on sale at costco seem to be more cost effective than all these smaller computer monitors, what am I not understanding? OP, is the streaming deck setup real? How did you connect it to ToS? Oh my...even more screens to lose your money with👌 Your wife's 2nd boyfriend will not be pleased!😂😂 I use my phone. Nice setup, I’ve been meaning to ask you what type of orders do you use, market or limit? Since you’re in and out so quickly [deleted] OP - What would you say your average time spent in a trade is? 2 minutes? Suck my dick How does one learn how to day trade I wish I had a mentor to teach me all this lol What the fuck my main setup is my phone ... Am I doing something wrong ? Do you have an info edge over me ? Can someone point me into the right direction for the best app for cryptocurrency please You have made more than the total return of the S&P500 since 1989. Fuck George Soros, Paul Tudor, and all those idiots at Goldman with direct access that can only make 30%. They should hire you. Boomer setup ... laptops were the fad back in the days and shouldnt be with so many monitors. Can get a beast pc for not much form factor and just as portable with detached monitors. ​ Facebook open..deff boomer style of talking. ​ Bad keyboard and mouse - All boomers carry bad tools with there pc. 🚨 red alert -check your Webull account- they are borrowing your stock- go to your main account screen- click on more - n check for - STOCK LENDING INCONE PROGRAM - click on it - n click exit the program- check all your broker app platforms- red alert 🚨 🚨 red alert -check your Webull account- they are borrowing your stock- go to your main account screen- click on more - n check for - STOCK LENDING INCONE PROGRAM - click on it - n click exit the program- check all your broker app platforms- red alert 🚨 🚨 red alert -check your Webull account- they are borrowing your stock- go to your main account screen- click on more - n check for - STOCK LENDING INCONE PROGRAM - click on it - n click exit the program- check all your broker app platforms- red alert 🚨 Stylish!!! Great. Now you can travel and work from anywhere as long as a roadie lugs all your gear around! Even got the mic!!! Looks like a pod-caster of some sort. Great set up G!! That's awesome! Clean your screen you savage Can you give specs and cost. Now this, I like! The quick buy and sell on the stream deck. Nice Any tips on where to begin build a set up like this , thanks Yeah thats cool. And Im not against on that really. But Please make time for yourself. Take a day off and spend a small portion of your profit. Trading is cool and exciting but takes our time a lot Could you mind saying, What are the parameters you use?? Those Stream Deck hot keys are a great idea. I like that you have one angry ""piece of shit"" key for those frustrating moments that you just need to punch someone/something for and then also a ""Dance"" key for probably the good times (?) On your stream deck. How are you making use of that Elgato Stream Deck? OMG. ❤️ I'm over here only using my MBP monitor. I found my people! 👌 windows on a Mac how is your thermals? I see Reddit there How are you using stream deck? Whaat types of tos short cut keys are you using on it maybe if they would have shown their positions... otherwise def a home setup. This is so extra... Just open and close windows jeez is the microphone for screaming into the void? Are you running all this inside a VM? Hey, where did you get those tiny monitors? That would be perfect for my studio. Thank your!!! Hopefully your el gato doesn’t accidentally step on your elgato and nuke your portfolio Clean your fucking screen. Lol holy shit, they make midi controllers for trading? Wild (Sorry, I'm new) Wow!? That's an insane daytrading toys. I thought I was a serious daytrader using my cellphone. Perhaps when I quit my day job I'll spend money on toys like that and as a gaming PC after trading hours. Sir, this is a Wendys. How can I get everything here Can you tell me more about your stream deck setup? I have a 12 button but no details on how I make that work with a trading platform. All that to be beaten by a kid on his phone What methods do you approach trading with? Are you running multi monitors setup in windows on a MacBook Pro? ...still hasn't made back the money spent on his ""setup"" What kinda microphone is dat I like how you have two cancel buttons. Are you Martinirita? I know she lives out of AirBnB's and streams on Twitch. His home set up has to be crazy! Totally dope! From Amazon? You must be fun at parties Why the mic? Travels with a trailer. U need one more screen bro 🤷 Uh, no thank you. I don't need to trade all that much. And still losing money 😂 this looks like a very expensive tarot card set Dude you really need that New laptop with 9 screen Got a little bit scared by seeing this hahah (I'm a day trade newbie). Anyway, can I be successful using a cellphone only? Lol Hahah the steam deck has a panic button What website is that???? That’s your travel setup?! Wow. Most of us aren’t lucky enough to have that as our permanent setup Lol -- would love to see the receptionist's face after handing you the room keys followed by your question: ""Do y'all have a dock in the back where I can unload my equipment""? Yikes... How does the BUY button work exactly? Does it sends a Market or limit order? Do you still need to confirm the order on TOS? I really like this approach! What brokerage do you use for day trading? Me: My travel setup has arrived! Me: (pulls out 📱) 😎🤳 Do have a private plan ? And here I am, trading from my phone... I bet the pile is under the keyboard “Travel” Are you trying to hack the pentagon, what’s the home system What does panic do How does one learn what all of these things in the picture are? This I need Could you post links to the gear? Love this setup Trading from Mo. -Fri. Weekend dj in a club So are streaming live now since you stopped YouTube? How can I get access to your TOS YouTube video? Looks like the public is blocked. Thank you. Not many day trader in the comment sections LOL No offence mate. Seriously is it possible to earn money as a full time job from trading ? I can't ask help my self ask this question whenever see a post like this here. Sorry for disturbing. Have a prosperous weekend. I love it Goodness are you some sort or a Millionaire LOL? Day trading with thinkorswim 😐 SNDLLL!!! I thought I was looking a post from the r/Eve subreddit Whoo dude, windows? What kind of monitors are these? what is the tiny keyboard for? Some setup 👌 My jaw dropped & I literally was like ""DAAAAAAAMN"" when I saw this! Wow!! 🤯🤯 Looks great! Oh God you need a new keyboard man Don’t wanna be behind this guy in the security line I'm not seeing a bloomberg terminal. MacBook Pro running windows ? What's the box on the left and and what do you use it for? Wow, I’m so jealous I’m not gonna lie, i have some of that but i love the keyboards and vertical monitors, but pro tip get a curved screen monitor Awhhhh yeah! Time to lose some money LETS GO RED OR DEAD BOYS nice setup! i just bring my phone and trade when travel lol What is this wizardry? Cool setup. Are those portable USB monitors? What's on the watch list for next week 🤔 What are we looking at?? 2 Lappies and 2 vertical monitors?? Very nice. I'm glad I'm still not traveling much or I'd be in trouble lol. Hey Hai, which mentor/guru did you like best or learned a lot that you have the same strategy your doing right now? (is it Investor Underground, Tim Sykes, WR trading, Sean Dekmar). Thanks I don´t get it, why do ppl need to have so many screens and see so many charts at the same time? I get four, but twelve charts?? Awesome setup! What charting software and broker are you using? So what is your main setup like? I mean thats a sick set up, but traveling? I mean if you're planning on traveling to your second home or spend a few weeks in a hotel lol... Does your streamdeck work with TOS? when you have a very big capital for trading you should be able to treat it like a real business. and real business needs real tools. not a phone. Doing waaaaay too much for a travel set up bro! I take my ipad pro and im gucci! Where Did you get those monitor stands Is that carry on? He travels lightly He’s about to DJ a wedding. It's a mech. Username checks out So could us females. Oioi LMFAOOOOO The pov When you feel panic, press it to calm you down It creates a temporal anomaly which starts the day over again. A day trader’s best friend. It closes all position😂 Liquidates all positions! \#1 Rule: Don't Panic! me with my two monitors over here: ""I got this guys :S"" More monitors = more money Haha i actually do specially when they make each of my monitor is 1 tray He only travel to his grandparents house 5miles south 😆 My return for last 9 months is 2800% so i guess its appropriate If you know what you're doing then you don't need fancy monitors and shit, a phone is fine *Very impressive!* *How much space does that gear take* *Up in your luggage?* \- OneEngineer --- ^(I detect haikus. And sometimes, successfully.) ^[Learn more about me.](https://www.reddit.com/r/haikusbot/) ^(Opt out of replies: ""haikusbot opt out"" | Delete my comment: ""haikusbot delete"") All my gear i put in my osprey travel backpack. Fit all my trading gear and camera and few other thing too. Can't recommend this backpack enough. All traveler need one of this. Not to shabby Main laptop is main gear. I7 10875h. Gtx 2080 super. 3 portable monitor (2 zissu brand i really like, the other one i bought it here cause i need an extra one its ok) 1 stream deck for hot button. 1mac for communication. Logitech gaming mouse for mmo. Wireless keyboard not too happy about still looking for more mechanical on but none of them are wireless or light enough for travel. *And I'm sitting here* *Doing it on my phone. Lots* *More for me to learn* \- moksy23 --- ^(I detect haikus. And sometimes, successfully.) ^[Learn more about me.](https://www.reddit.com/r/haikusbot/) ^(Opt out of replies: ""haikusbot opt out"" | Delete my comment: ""haikusbot delete"") You should have at least 2 screens (a desktop with 2 monitors or a laptop with 1 monitor attached to it) if you're a beginner. Using ONLY your phone is not efficient for day trading. Only for long-term investing if anything. How do you configure yours? Depends how many stocks you are trading at once I guess. Once screen is fine for one position, gets a little harder when spread in 2-3 names with large positions you need to monitor closely. I love my mouse. I use 6 out of the 9 side buttons as a hotkeys for my trading Start off small. A laptop and 1 external monitor connected to it would suffice for most beginners. Add more monitors or buy a SUPER Ultrawide monitor from LG, Samsung, etc once you know what you're doing and you know you need the extra screen real estate. Some people prefer having 1 or 2 vertically-oriented monitors as well. There's no right or wrong answer. It's about whatever fits your trading style. P.s. DON'T trade with your emotions. Step away from the keyboard and desk if you know you're getting emotional. Learn to embrace seeing a dip in a stock as a buying opportunity instead of you panic-selling. The mic is for my youtube, but my youtube main purpose is just to document my journey not to teach. If you are interested just search ( kyle vu trading) and sometimes i do go on beginner trading live stream just to chill Thinkorswim (which is what is pictured) works on mac and linux You'll be amazed how much slower and more cumbersome daytrading is on RH vs something like ThinkorSwim. Make the switch. I guarantee you'll be better off and make more. There's a learning curve for sure compared to RH, but it's super worth it. That’s nasa control center. [removed] He makes $15k a day lol It's like the Vacation movie with the car with two gas tanks. I use limit order. Buy ask or buy the bid Bro fr, this thread has me in the twilight zone. This sub makes fun of dudes with 6 monitors all day every day and everyone's jerking this guy off for having a starship command lookin ass laptop to trade? LOL going to a picture of a laptop on reddit and posting a single sentence asking someone to do all the work for you should probably do it, so you'll do fine Step #1 lose lots of money you don't need one I’m clueless. I just recently started looking into trading and other things, I’ve wasted a lot of time. It’s only scalable up to a certain point. Billionaires can’t trade this way and make the same returns without moving the stock themself. Massive share size requires averaging in and out over a longer term. Scalping is great for us small retail traders though. Yeah, don't be ignorant. When your moves in the market, moves the market, it becomes a completely different game. Not comparable to retail investor scenarios. Someone doesn’t know how to research or look at YouTube apparently... if this guy is a boomer, I’m farting dust already. You're welcome. You should check out the VR day trading setup. You can use DAS Trader with Td Ameritrade or Interactive Brokers and setup hot keys. Here’s my setup https://imgur.com/gallery/26v2SVm no gurus that online have my strategies right now. but madaz trader from youtube have the closet strategies to my. My strategies is base off his and i just tweek it to fit my style. You dont need to pay for his chatroom or anything. i just watch his live recap trade and learn from it His middle name is Lightly Correction: he’s about to DJ at a bar mitzvah! Dad that’s not skrillex playing Son, he’s our CPA. This would be light back then. I remember friends lugging vans full of vinyl from spot to spot. 😂🤣 [deleted] What is that board and how/where can I get one? Oh I thought! It to trigger him somehow so that he DOES panic. Maybe he’s way to chill, and need to get the adrenaline going some how? A digital stress ball Me with my phone and Robinhood: Y’all are making $12 gains very complicated 2 is fine tbh Gotta get precheck! Most major airports won’t make you do that in normal circumstances. Haven’t taken my two laptops out of my bag in like 2 years thankfully. Interested how you do transport this setup. I'd like to have something similar, but not 100% sure how to transport it all. Some sort of dedicated Pelican case? How is it you travel so much that you need such a setup? I assume for work? What do you do? That's mental. I'm happy for you! Heck I'm happy with my +80% haha... but damn 2800% that's amazing. 1.87% a day right? My only tip of advice is don’t get used to those kinds of returns. We’re in the longest running, most artificially stimulated bull run of all time. A lot of people are getting into day trading now, but come market correction they’ll be wiped clean. Holy phuck, dude! You're my new best friend! How do I do the same? And don't give me math like I have to go ""valuate"" some company's spreadsheet. I'm looking for like a magic potion or a spell or nanobots I need to inject into my eyeball. Wow! Do you think that's sustainable? Impressive! Do you mind sharing some details? Good bot. Are you able to fit all those screens inside your bag? Do you need any protection for the screens? Meanwhile, I'm unemployed and wondering what I can afford at Taco Bell for my regular dinner. I'm not crying, you're crying. Thanks for pointing out the main laptop! I was wondering whether you were running das via a virtual machine on your Mac—I am currently tempted to try to run Das on a spec’d up mbp via parallels. You mean RTX 2080 Super. How do you setup the stream deck? Can you buy and sell within a browser window? Please explain?! 😅 Can you sell half position with stream deck on thinkorswim? Good bot Absolutely! Thanks for the tips! I wouldn't consider myself a day trader. I usually buy and hold for a few days. Screw that. I got one screen for stocks and all the others for porn. Have to relieve that stress somehow. I really feel like you can have one big screen with most of these windows spread about it Also have a Naga, but only for MMO purposes right now. Could you describe your mouse hotkey setup? On top of the Stream Deck?! What software are you using on your three external monitors to view those charts? Sorry 1 more question. Do you find a time of day that seems to be the best? My hunch says the morning is volatile because of AH, news, wknds...that seems to settle then lunch window slows down. So my guess is the like 1:30-3 window has the tik/tocs you are looking for but not big swings. Then after 3 who knows. I see you and now I recall your older post on reddit. You are awesome man with your profits That’s great! Thank you! Thank you! I'm currently working on getting away from RH (for all the known reasons). I appreciate the recommendation, I'll check it out. More like SpaceX or a drone pilot station. 😅 Low 5 digits I’d assume. but isnt the one computer part doing all the work (cpu, ram, graphics, internet speed) not the monitors, which just display the work output? If you had many little monitors wouldn't all the connections strain your graphics card more than the total same pixel-square-footage sent over one connection to one large screen? Do you also do Buy Stops? You making 2k% also? You also have 90% win rate and 2000% return annual? Thank you so much, I’ll start looking into this now! Whats the panic button for? You use this for options scalping? Can you do something similar with THinkorswim? Like sell half? >madaz trader Thank you. Good stuff! What help you find the tickers to trade for the day? any screeners you use? Thanks I fucking lold It's called Elgato Steamdeck: https://www.elgato.com/en/gaming/stream-deck You could also code an autohotkey script to save money Sounds reasonable to me. Like the button would trigger an airhorn that's taped to the underside of his chair. Better than coffee when he's falling asleep! You should use multiple trading platforms and not solely Robinhood. Never rely on one app. If one prevents you from buying or selling a stock then you can use other apps. Robinhood pissed off a lot of people during the whole GME/AMC, etc situation. A gain is a gain. My thoughts exactly. At least I have 2 apps. Haha, this better be a joke. Fewer than 6 monitors and you are guaranteed to lose money trading. I only became truly profitable after going up to 12 monitors, 2 keyboards and 4 mice. ^ this ^ Precheck is the business. Jerk. I only been able to do -80%. When the market comes down just turn the charts upside down and short sell and cover- easy? Don't think he goes long on anything to get those returns. The beauty of scalping is it really doesn't matter as long as markets are moving. He makes money on the bounces, not by holding. He's a scalper, scalpers don't care about the market direction lol This is why I am treading lightly. From July, to last Friday I was all in the market, but seeing the slump in my ev stock I decided to pull 50% ish of my money before this 3 day weekend. That 50% is more than my initial investment so even if I lost the rest I’m still walking away with gains. While I continue trading I don’t plan on letting any position stay open for more than a week Indeed. The stonks, in fact, don't always go up. my mans ain't gon be givin' his secrets! (But if he did I would be oohhh so happy) He buys low and sells high, at a quick pace. Oh ok. Then you're a Swing Trader. I'm not the OP of this photo. I'm not the OP of this photo. I was simply giving some advice. I myself am still a beginner in day trading. There is always more volume in the morning which is good for trading. Most day traders prefer morning. Pre-open= find your target stocks. Then trade until 10-11 a when things slow for lunch. Then take the rest of the day to destress. (At least that is my understanding. I have a regular job, so my trades get squished in when I have time. ) Lol no... But big money can’t scale up like us little fish can. There’s a threshold in small caps you really dumb enough to think you have to have that sort of results to understand the absolute basics of scaling profitably? Closes all of my open positions at market price I use trade ideas screener Thx! Did you just modify it for trading? It basically runs macros, or scripts? But how often is one prevented from buying/selling? Also, you can't sell from a different platform since they don't have your stock in their account. Or is there a magic way around this? Lol I almost rage replied. Had me in the first half, not gunna lie. And each monitor showing exactly the same window. Lmao. I just bought 12 iPhones. Time to smack Wall Street in the pussy! Feels bad man. Good luck on future investments... I usually just turn my computer upside down but I guess that strategy works too Right, but scalping off the top gets a lot harder when the top... stops being the top lol What's a scalper trader ? Newbie here With returns like that, they could probably write it out step-by-step and I'd still be lost. So many rich traders i guess. Lol. I thought it was a joke button. But nope ... A real panic button. That's awesome. See that people in you Facebook chat asked about the panic button as well 😂 It doesn't matter how often one is prevented from buying/selling. It's the principle of the matter. If for example YOU were prevented from buying company X via Robinhood but I was able to buy that same company without problems on Fidelity, then I made way more money on the way up while YOU got financially screwed by Robinhood. Does that seem right to you?? Also, who said anything about selling your shares from one platform through another platform?? The point is to NEVER rely solely on one platform. Buy the same company across multiple platforms. There are people who buy from 5 or 6 different platforms. Some don't even charge commission fees. Others do. Never put all of your eggs in one basket. Doesn't matter. Scalping just needs volatility and the market to ping up and down on price. Even if the general trend is down, getting the bounces and shorts right can be enough for good profit. high frequency traders that hold positions max for a couple hours. LOL for real though!! For real, but rich is relative... Put in the screen time and perfect your executions. A wise Jordan Peterson once said, “compare yourself with who you were yesterday, not with who someone else is today.” 🤙 Good points there. Thanks for the reply. And for those who don't have enough to day trade makes sense to have multiple platforms since you only get 3 day trades per 5 day period Thank you You're welcome. Check out the YouTube channels Financial Education, Financial Education 2, and Financial Education 3. Read comments. Join the Stock Hub discord group in the description. Always perform your due diligence on companies before you buy. Just waiting for my broker to approve my trade options request. Takes days versus the 15 minutes it takes on RH." Bankruptcy speedrun.. in VR,2353,https://v.redd.it/xc3unvy416h61,"This user is trading in the year 3000. Screw multi-screen workstations. Go VR. Fun use of VR! Just need your portfolio balance up in large numbers to really get the emotions going as you make trades. Maybe even some flashing colors to match whether its climbing or falling. You cut the video before the drop?!? WOW lol Very cool! How did you do that? Multiple monitors and/or VR? I gotta step up my home game This is making me very claustrophobic and flustered while also giving me anxiety and a boner. All the feels all at once. What's the app? Are you running that many screens in Virtual Desktop? all this display tech and no one can explain entries/exits in realtime lol [deleted] “Nebuchadnezzar, this is Zion Control. Maintain current velocity and stand by.” No way I thought this was a joke when someone mentioned they actually do this in Vr This. Changes. EVERYTHING. Watching you pull down one of the tabs like it was a handheld Bloomberg terminal was hilarious Imagine this with a floor trading module where you standing in the pit and you have to signal your orders with your hands. I would love to loose money on that one This is the way. I need this. Color coded and eli5’d take my money already. Software peeps ? That’s absolutely phenomenal Damn i want that for Christmas! OH... MY... GOD............. I must try this out. The Lenovo ThinkReality concept glasses has a similar setup via AR which can ALLEGEDLY display around 5 virtual monitors above your laptop screen. So you’re using WeBulls trading website nice How do you feel about the resolution with respect to chart details? Also, how well does it handle vs using a mouse? I thought I was the only one!!!!!! Nice. I go wireless but haven't mastered the battery speed reload and my point and click isnt as nearly as smooth and functional. this is amazing That is so cool. Really good idea. Well now I’m worried I’m going to pull off a headset and all of this has just been a solid and immersive experience Wow! What song is that? Sign me up Do that for 8 hours a day and go blind Wow this is wild! And now with the update that lets you use bluetooth mouse and keyboard, this would be even better. Great song choice! Looks like you're literally in a🚀 in space I always wonder how these people learn all these graphs and shit Too many charts, unless that’s premature to filter out stocks Dude! How! That’s TOS right?? I gotta set up my VR like this. I like it. My main setup is my phone these days. I don't see myself going back to a desk. But this is sweet. You could be lying down on your bed and have a killer setup. What VR are using? Do high quality vr will not hurt your eye? it hurtsmy eye, maybemine have low quality. Yeah, but can you slice each of the screens in half Beat Saber-style? I love all of this! Nice tunes! I love the yeah yeah yeahs I was listening to them last night 💛 Just don't accidentally convert yourself to a digital antagonist bent on taking over our tendies, whose coming will be announced by all price alerts going off around the world at the same time. U also use a Keyboard? Because I don’t feel like it’s convenient to trade with the remotes only Haha, very fun use! I’m curious though, do you actually use this for trading or is it more of a fun experiment right now? that‘s awesome bro How tf...? Stop buying Canadian weed stocks, instead buy United states wed stocks like IGC and XXII. These stocks will actually be affected by what policies the biden administration agrees on I love this so damn much!!!!! #MultipleMonitors Wow this is amazing looking 🤯 How reliable is this in the heat of the moment? Does it handicap reaction timing? Who are you???? Impressive sir. Love this. Yeah Yeah Yeah. So, get an Occulus Rift to help us lose money faster, and in 3D huh? I’ve thought about doing this since I don’t use my oculus much anymore. Then I realized it would probably make me sick. It takes a lot of VR for me to get used to it and not get sick. As soon as I stop for a week or so, I can’t handle it at all anymore. It’s sad because I loved it, and it has so many other great non gaming uses like this. Nice, now I can blow my account both in the real and virtual world! Two for two baby 😂 Wow thats Cool Wow u/slurpybanana, I was going to buy two more monitors but this would be a lot cheaper and way more fun. Thank you! What is the rig? are you on a PC? I assume you are not on a Quest... If you think I am signing into anything financial on my oculus you dont know how shiny my tinfoil hat is... I need this in my life Be scary if you saw a shadowy figure in the back ground. Not immediately... you’ve been using the program for months and occasionally something will catch your eye but you dismiss it... but one day it’s unmistakeable If I was a programmer I’d add shit like that Damn this is wild....... Can you even see Cant sell it on time. We really are living in the future Haha, I do this exact same thing! Well except I trade from a space hotel orbiting earth. Really cool! what's your Playlist VR trading? That's one way to overcome a lack of monitors, as long as you can handle the extra bandwidth. ​ Volume Is The King Of All Trades What broker is that? What the hell? You are a Jedi Knight! Show me the the way of the Jedi! What? No Ya I kinda really need it I'm sure it would solve all my psychological trading errors, right? THIS!!!^^^^^^ As a marquee bar all around at the top to get in the real feeling Unreal dev here... Any money is making VR trading apps? Left me bobbing my head! smh Just opened multiple pages in different browser windows so I could pull them up individually. Oculus menu has an option to bring them up with the plus symbol on the curved bar thing. Chrome turns into a dropdown menu to select them. The best feeling ever This is the default Oculus menu with Google Earth running in the background *What's the app? Are you* *Running that many screens in* *Virtual Desktop?* \- r3ign\_b3au --- ^(I detect haikus. And sometimes, successfully.) ^[Learn more about me.](https://www.reddit.com/r/haikusbot/) ^(Opt out of replies: ""haikusbot opt out"" | Delete my comment: ""haikusbot delete"") Well they aren't called xenoblorbs and covfefes. The labels are pretty self explanatory. 2 inches is 5.08 cm What screen sizes/panel types do you use and are they all in horizontal orientation? What refresh rate do they run at as well? Also, are they flicker-free?? The focal point of VR headsets is about 6 feet away, when you look through these headsets for eyes are focused as if everything is about 6 feet away I’ve been wondering if I can turn HFT signals into a rhythm game... only half kidding. :) Honestly why aren’t there Bloomberg Tablets Step 1: Buy an Occulus Rift Step 2: Done That would be an absolute dream come true, oh my god. Also curious about this, and the keyboard. Looks incredibly stunning, just wondering how easy it is. Can you type and click as easily as you do on a computer? Oculus Rift is a budget headset and not the most ideal for this with its relatively low resolution compared to other more expensive headsets. I need to lean in occasionally to see the smaller screens, but everything is clear and visible for the most part. Heads will roll - Yeah Yeah Yeahs The A-Trak remix is really good Yeah yeah yeahs - Heads Will Roll Project x Just 8 hours? Don't forget about the guys who trade futures and forex Study. It’s not as hard as you think, but it is scary at first. But once you realize that you have the power to literally print money by applying skills you learned... it’s life changing. And there’s really only a handful of things that you would need to know. Basically all the charts may just be different time frames or they have the same indicators on each one even if the tickets are different.. so it’s really as simple as reading a book. Nope webull I'm wondering if the HP Reverb G2 can do this virtual setup as well. Not sure if it would even be usable tbh. Text isn't too easy to read in VR. You'd need a pretty high density PPi screen. Its not a bad idea - I'm not entirely sure how usable it would be. Such as how comfortable it'd be to trade like this for an extended period of time. However as a trader I would be interested in trying it. REAL day to day use has potential but I'm not sure beyond that. I see a lot of meme content that could be produced - videos like this trading doge coin with music and flashing lights while we get to watch someone tank their portfolio etc... that's entertaining and could definitely capture traders attention. There's potential there. One bonus of VR is no distractions. Just you and your screens. Another is travel and space. If you just have a small space or no space to set up a physical trading desk, VR could be a very viable alternative. The biggest downside would cost if VR is more expensive than physical. But there may still be a market for it. Dance dance me dead They’ll never know 🤣 What CPU, GPU, and RAM capacity does your day trading rig use to handle this?? Rift or Quest2? Would you say this is an efficient way to trade or are you better off with multiple real monitors? How hard is it to read the numbers and texts? Several instances of oculus browser? Wut? Oculus will use whatever you have on your monitor? You can just VR anything on your computer? That’s dope Good Bot! covfefes? wtf is a covfefes.... anyway, yeah plz explain your entries and exits, reddit botrando [deleted] Holy shit. I would then get a sweatshop of kids to mine my money, with dance! There's a dude who has done that with Orderflow in Bitcoin... I'm trying to find a link. I’m pretty sure they use the large retina iPads Step 2... short Facebook? I have a Valve Index. No good ? Did you check out the video on Lenovo's YouTube channel?? No, not even close lol Which other brands would you recommend? That have better quality and still work for this purpose? Thanks! This guy fucks They have their platform on PC now?? Absolutley unlimited meme potential. I can't wait to see what you just described. There are enterprise focused VR workstations with high ppi for text being sold for 10k+ Pretty sure it’s just the oculus itself, you don’t need to hook them up to anything And here I am thinking I’m living in the year 3000 jerking off with my Oculus Go Rift I guess that's a Quest thing. I'm using the Rift. Google covfefe. You’re in for a treat. As for entries and exits, its easy. Buy low, sell high. I'd venture a guess that it's not worse than computer screens, if you stare at it for a while you get short sight-primed + your eyes become dry as sandpaper 🤷🏼‍♂️ idk never looked into it Gonna go right meow!! If your priority is resolution for more clear picture, i would say the HP G2 or the quest 2 if its out of your budget. If you want a smoother experience a larger field of view and arguably better comfort, go with the Valve Index, you'll sacrifice a little bit on the clarity but still looks pretty great. Yeah you can use webull in the browser or as a desktop app He's using the rift [deleted] Username checks out lol lower than what? ive been trading scalps and swings since 2007 so yes *i* can define it but i havent seen anyone thats able to justify their trades in realtime. incl pro traders. Thanks! Does it have delay though or does it compute as fast as the computer? It’s called the oculus rift.... I have a quest 2 and it does have a web browser, a recent update made it so you can resize the web browser windows. However I have barely used it and couldn't say if this is what the OP is using. Lmao it's the same thing 😂😂 If you are doing PC VR wired, delay is almost non existent, if you're doing wireless PC VR with the oculus quest 2, it will depend on your internet bandwidth, proximity, etc. But in my case doing wireless PC VR with the quest 2 i experience almost no delay. Nice! Sorry for the noob question but can you wire the quest 2 onto your pc? Yes with oculus link you can connect to your PC wired, and you can also connect wireless via Virtual Desktop. Thanks!" "$400k+ profit, 20,000% account growth in 1.5 years daytrading",2353,https://www.reddit.com/r/Daytrading/comments/ru9gin/400k_profit_20000_account_growth_in_15_years/,"Absolutely insane. It seems like you kept your consistency up the entirety of 2021 while most stopped growing exponentially from March onward when there was a clear volume and momentum shift in the markets. Very impressive work! 2% max risk per trade is so hard to implement consistently and every day, I am sure you have a max loss set by broker as well? Can only agree on the mentor part, in one of the most competitive fields in the world having a proper mentor can save you years of your journey. I have said this since day 1 I started commenting on this subreddit. Best of luck in 2022! Many of the same ideas appear in good r/daytrading submissions. I've seen similar threads in other subs but they are always oriented towards that sub's topic. What is amazing in your post is how expertly you've documented all of the details of your strategy and routine, goals, and results, and how they can be applied to any trading activity in any market. This isn't just a year-end chart, it's a submission of intent and achievement that sets the bar for those that follow. Looking forward to your continued growth and experience in 2022. Amazing work and great post. Thank you for sharing this, was able to learn a lot from this post. Keep up the hard work :) Nice post thanks and congrats King shit. I aspire to be this successful in trading Props for doing this with the added difficulty of TZs buggy and unreliable trading platform. who was your mentor? Where did you start learning and what resources really propelled your skills to the next level? [deleted] First and foremost, congrats on an absolute banger of a year and I hope your 2022 makes your 2021 look like a pre-meal snack! Any insights into what scan parameters you're using to find your trades? I feel like this is something that is rarely dove into and I've even seen some treat it like it's some sort of secret. I feel like it's kind of an undervalued aspect of trading, folks know that scanning is important and we all do it but we're far quicker to give credit to other aspects such as technical analysis but before we put our technician hats on we all usually have our hunting caps on. Again, congrats on 2021 and best of luck in the new year! Really impressive work! Becoming a succesful trader is possible but it requires a lot of time and effort. I'm glad to see that you commited yourself and saw amazing results! You really deserved it. I’ve been engaged in the stock market for around 1.5 years now, started day trading 6 months ago. The learning curve would’ve came exponentially faster with a good mentor. In this business, you literally don’t know what you should learn at the start. On your Cumulative P&L, it shows around $600k, but Total Gain/Loss shows $236k. Can you explain the difference? Sorry for the dumb question. I recently started journaling my trades. I write down the reasons why I enter and whether or not it failed, why the trade succeeded or failed, and lessons to be learned. It’s helpful Amazing work OP, congratulations! Very inspiring Congrats you beast Thanks for sharing, very nice to see a trader work hard and obtain success! Congrats on a very profitable year! Very impressive and your dedication is admirable! Congrats man, I’ve been following your journey through Twitter and the multiple podcasts you’ve done. Wishing you the best in 2022 and beyond! Congratulations! Have you thought about mentoring someone? Like me perhaps? Hahah seriously though, would really want to learn from you. This looks like a post that would be in r/realdaytrading Good post! Thanks for sharing Nice, saved for multiple re-reads later. Would be interested to know who the mentor/sorcerer who guided you to those stats ha! December 17th: $-39,000. What happened that day? Was it emotionally challenging to deal with, especially going into a weekend? I know you were still up for the week, did you lean on that? I'm interested in how successful traders deal with the emotional aspects. That to me is more challenging than the technical aspects of trading. How does one find a mentor Wow this is amazing, all the best for your future success. Can you share what books and resources helped you in gaining this knowledge. I would like to ask if you can be my mentor or In case you had a mentor can you share his/her details. Trying to follow your footsteps. Listen, we've seen this game. Anyone who makes that kind of jack ain't on Reddit telling the world about how they did it. So from $1800 to $400,000? Impressive, but in my opinion; unlikely. Looks too good to be true. Success requires no justification, and failure permits no Alibi. Well done dude. This is a really great post. Thank you for sharing! Good job, congrats! Which trading group did you join? [deleted] Congrats for your achievement, and thanks a lot for sharing. I was doing okay earlier this year, but I lost more than half of the profit I generated in early this year. Definitely more to learn, keep up the great work! Wow incredible. I notice you tend to be more scalpy holding for minutes in first hour of trading then intraday will swing for hours and scale out more slowly. This is a big mistake I see a lot of day traders make. They scalp the morning successfully then their afternoon scalps fail hard because holding for hours becomes more effective. Hmm. You're the second person with ridiculous performance to mention this kinfo app that I have never heard of. I'm sure it is possible to enter manual trades if you're a shill for the company as was the other guy. Guys this shit just ain't possible within 1 year of trading. Don't fall for it. With this kind of performance you will be the richest man on the planet in a couple years 🙄🙄🙄🙄 So you had no day job I’m assuming, with that said… how did you recover psychologically from big red days..? Great job BTW!! Finally some quality content! Thanks for sharing! You are amazing! Congratulations on all your hard work paying off! Keep it up! You’re giving us something to aspire for. I tip my hat to you sir, excellent work Now THIS is record keeping done right! Congrats on the parabolic P&L graph and thanks for sharing 🙏 Wow this is nuts, good job and may you keep going like this! If you are ever interested in turning this into a trading bot or automating parts of the process, send me a DM. I am always interested in learning a little from others and giving something back in the process. Keep rocking. Very true your results are in ""top 0.5% of traders."" It's that rare, congrats. >The process of reviewing is crucial to a trader's progression. >Put in the effort, accumulate screen time >Practice >Start with very small capital while having a stable income >It's easier to learn while having another source of income rather than trying to become profitable while living paycheck to paycheck on trading income. Great advice. Do you have a systematized way you take your exits after triggering into a trade? Do you sell 1/4 or 1/5th at 1R, 2R, 3R etc? How are some ways in which you let your winners ride? How do you handle the emotional trauma of letting winners ride, and then once it taps 1 or 2R targets, it reverses and stops you out? Turning a green trade red is never fun. Give us some ways in which you take your exits. [deleted] I see you took an options trade in December 21. I started trading options like I trade stocks. I don’t trade spreads, just buy single puts and calls. I like doing this for going short because I don’t have to borrow any stock. I can certainly learn from you though and thanks for the post. Great post and congratulations on your success! > ""Viewing and sharing on kinfo is only possible through direct integration with brokers. There is no way to add manual transactions, remove transactions or in any way manipulate the data which comes from the broker. This makes data on kinfo 100% authentic and there is no way for a user on kinfo to provide fake results on their trading performance."" https://kinfo.com/verified-trades/ So the way this works is that it reads your brokers trade logs, and are 100% accurate to the trade logs it exports. The trick OP isn't telling you is that paper trades export trade logs exactly like regular trades. Some brokers probably let you edit your paper trades after the fact too. I'd take OP with a massive grain of salt on this. OP is my idol This Is literally my dream.. I have 2 little boys I miss everyday spending anywhere from 12-16 hours at work to provide for them. I was trying to do day trading while at work on my phone, but it was hard to keep up in and out trades were hard, but the first 6 trades (pdt) I was probably up almost 200% then missed inputs, bought a put when I meant to buy a call and didn't catch it until profits were down 50% then I just kept missing the right trades, hesitating because I only had 3 trades for the week and crashed the account. I've searched for mentors but they always say join this discord or check this group, I want to sit live with someone and have feed back and discuss live action on the charts. I struggle with keeping my adhd in check sometimes and can't actively keep information flowing because I lack the structure/layout plan. Honestly anyone willing to help, pm me, I know this is something I can do and absolutely crush if I had a mentor guide me to good habits in the beginning. Nice job. Are you on Twitter as well? Some really smart mentors over there Can you post this in r/realdaytrading? TLDR: I do whatever I see on your last trades that youv'e done 0.5% and ""small"" gains - as a small account traded - how you managed to grow your account at smaller gains? like doing 0.5% on 3K account is pretty much nothing no? Anyway, amazing job, really. Great write-up, great inspiration. Sorry if this info is in there somewhere, but how much did you begin with? How does one find a mentor? I’ve never met anyone who trades consistently. And your a Garen main! It all makes sense. Congrats though. Is this your full time job or do you work another job as well? [deleted] which trading community did you join? Nice. Silly question. Do you use only 2% of your currently equity on each trade or do you use the majority of your equity in a trade and then set the stop at losses of 2% ?! Great work! Thank you for sharing! I’d like to get serious about Day Trading in 2022. So far, doing mostly scalps and high volubility stocks. AMC, GME, Nakd, BB etc. Markets have a lot of potential but they are rigged so be careful everybody! Happy New Year - 2022. Post plays next time Very interesting. Have you heard of Ray Barros’s approach to risk? Instead of having a max 2% risk, he defines his psychological state as either a flow state or ebb state. During flow state he’s trading extremely well, will let runners run and will up to 2.5x his size. When he’s in ebb state he’s dropping his size and taking profits at 1R. As he’s a longer term position or swing trader, he often spends weeks in each state. I wonder whether you’d have better results doing this over a period instead of changing size throughout the day. Op posted a similar post a few weeks ago. With different figures. It's all bs. Congratz trading in a bull market. Nice post, very organized and thoughtful. Personally I’m not that impressed with the 400k, I’ve made more than that on a single trade before. Of course i risked way more than 2%. Which is lame AF. And I started off w 5k. And let me tell you a dirty little secret—it’s mostly to do with the market not the trader. Don’t delude yourself into thinking you are on your way to figuring it out. It’s always situational. Awesome! Thank you very much for sharing. This is light at the end of the tunnel Awesome post thank you Very impressive! I see mixed reviews about level 2 and how it's used. If tomorrow brokers no longer have access to level 2 do you think it would have a meaningful impact on your profit? [deleted] Thanks for sharing your journey. Illuminating and helpful. And congrats on your success. This was an excellent write up and I’m saving it to review again later tn. Might comment again with a question or two haha, thanks and congrats op First of congratulations Secondly what is your risk management plan, it sounds like you went ultra aggressive lol Thirdly keep on smashing it ! Great year and many congratulations on all the gains you have accumulated last year .. were your strategies long vs short coz many use TradeZero to short stocks Since you started with small capital.. were majority or trades trading options vs equity ? Thanks and all the best for 2022 A month of paper trading is nothing, you went live after that? Were you killing it paper trading? Nice post, it all makes sense and is everything I know to do, the actual *doing it* is the hard part. Congratulations on your success. This is amazing and very inspiring! Can you explain what happened in September and November to hurt your performance? Thanks ! That’s so interesting that the beginning of the year was a bit of a slow burn in relation to your insane end of year performance. That’s about the opposite of everyone else I’ve seen this year. Really good stuff though, extremely impressive. Congratulations! What filters you use for scanner on tradingview? I’m curious how you started with $1800 and ended up with $400k. As you used a risk of 2% per trade, what was your monthly profit in %? Do you use a pre-market scanner? Also what trading platform do you use to get the best order fill Are CFDs just a different way of trading stocks? Great job OP! Can you or anyone recommend any discord channels I could join? Been looking for this for a while but haven’t found any. Also what twitter accounts do you recommend? And this is why the pattern day trade law is fucking me over. You can't do this with that law in place. Sigh... 18k to go.. On which platform do you use to enter trades? Tradingview? Thanks for the post and congratulations! Were you working a regular job before getting into trading? If yes, how did you transition over? I’m assuming you’re living off your trading income now if you’re trading 9:30 - 4:00? Or do you work night shifts or similar? How much of your gains were trading options vs stock? Something changed in your trading style in 26-05-2021 or are the effect of scaling up? Congratulations, massive returns. Wow awesome job! Looking forward to seeing what 2022 brings for you. Do you trade straight shares or options? How important is your scanner to your success? Still on the fence about signing up for Trade-Ideas (i already have tradingview premium) How have you found your accuracy change as you’ve switched from small cap momentum stocks to larger cap stocks? [deleted] Did you take a course beforehand? How do I make a calendar like that?? I hope to see you in the next market wizards book. Congrats You mentioned trading crypto stocks, have you traded crypto directly yet? It seems your trading style could fit trading crypto as well OP, I like the way that it seems like you track and record everything that you do as far as all the daily trades you make, and what companies etc. This is something that I would like to start getting better at. Does anyone have any recommendations on possible programs to use to do this? I am decent at Excell and would assume that that would be a good place to enter all your data into. I just didn't know if there was a better program to use or maybe what OP uses to input, track, and record all his trades and data. Thanks Are there any particular setups that you like the most, or find yourself most profitable on? What timeframe do you take the majority if your trades on? If you wouldn't mind, I would really love to see a couple of your trades. Doesn't need to be in depth analysis, but it would be very interesting. It doesn't look like you post about your trading very often, would it be worth it to give you a follow? Do you think that'll change in the future? I am growing a small account in the same way. Thanks for the inspiration. 2% of $1500 gives you $30 of risk per trade. What was your max day stop out or max day loser in this case? 3-4 full stops? While the write up is nice, what is your strategy exactly? Can you please break down your entry/exit criteria? yo buddy, firstly, HELLO from london. im based in archway been here for 5 years from manchester originally. got 3 questions if you have a spare minute. 1) do you care about commissions? im with ibkr, im scalping and the commissions are really hitting me hard sometimes. 2) do you buy on the bid and sell on the ask? (adding liquidity basically). 3) TAXES! are you doing this all on self assessment self employed? or are you setting up a ltd company and paying yourself via dividends? do you use an accountant? im looking at just doing my own self assessment while keeping the trading logs. ​ thanks bud, Canadian? Did you use leverage ? Bruh you killed it congrats. I started daytrading in 2021 after dabbling in it, then losing my job and now I'm all in, but no where near your profitability. I rarely use options though. Usually only when I want to short something my broker won't let me borrow to go short on. Usually I'm scalping, in and out in seconds. Hey OP can I see the most popular of the tickers you were trading? Or like the most commonly traded tickers? I always choose terrible stocks. Thanks! [deleted] Dude! Recognized the name. LST room moderator. Didn't get much value from there, last day tomorrow. Somehow can't really picture the flags Jeff talks about. Was Jeff your main mentor or did you have others? Op that's incredible and I am interested in your thoughts between a monster August and a near flatline September. What is that like? What emotions do you contend with and thoughts on the situation? the fustrating thing for me is needing a large equity pool to begin with so that I can short. I can only long stocks unless I have 10K or so more in my IBKR. sigh. Great read though, grats. How much was an average trade in December? What was the average percentage P/L per trade by then? Thanks for being so open. I would love to be able to do this, this year. Hey dude, pretty compelling stuff. 2 questions for you. It looked like your average hold times were about 2 hours for your trades. Do you ever hold positions over night? I understand a lot of the work is just identifying the stock and the entry, but I was curious about what you do to exit your trades. Do you rely on stop losses that you set when you open your position?Do you modify it as the stock moves? Do you just exit manually? Excellent, 0.46% game of ever trade $72 bucks. On average 50k capital used to make 70 bucks. Those are some fast trades !!! Nice post Ah, very cool to see you on here. I'd actually like to ask questions as well! I know you mentioned this before, but how many ""full risk"" trades do you take per day, vs. trades that are not full risk? Do you have any methods you use to mentally check yourself from overtrading, as well as techniques you use to prevent yourself from taking full risk on trades that should not warrant full risk? This has been my issue for a few months now and I'm having a hard time cracking it. Also, I know you spend a ton of time in front of the screens during market hours. I personally have a difficult time doing this...ranging from physical reasons (headache, etc.) to mental reasons (fatigue, lack of focus). Is this an issue for you, and if so, do you do anything on a daily basis to mitigate it (meditation, running maybe)? Thanks man, looking forward to seeing your progress this new year. One day I hope to understand just 5% of this and also learn how to daytrade/invest... Good job man this is really amazing!! can you share your tradingview screener parameters? [deleted] Thanks for sharing 👍 Massive massive respect! Congratulations! 🎉 This was accomplished with stocks? No options? Insane respect Interested on how do you actually use tradingview+tradezero together, as this is what I use too and find it difficult to chart on one while trading on the other, while sometimes staying in position for only a few minutes. How do you actually have it setup? Thanks for the post Extremely impressive man! I'm finding this particularly inspiring. I'm mostly a mid-term swing trader with a bunch in long term, and I've given myself the challenge of turning $500 into $50k in 6-12 months, so I'm feeling really validated in seeing your growth and that I'm looking at strategies much like what you've used. [deleted] Great job!, did you work a “normal” job besides this? 1. What's your profit target in percentage per trade? or per day? 2. How much capital do you go into per trade when trading momentum low caps? what about for the larger caps? 3. You execute a high number of trades per day, I'm guessing most of those are the result of getting stopped out? Especially considering your total number of losing trades is greater than your total winning trades How do you enter/exit position? I've seen from you TW charts that it seems you scale in/out gradually. Any rule of thumb there? wow thanks for sharing, so cool ! I was wondering if you could tell us what resources to use to teach yourself the strategies that you currently use? Did you only use a mentor? I would like to get into day trading as a hobby (and potentially transition to full-time) but am not sure where to start. Thanks heaps. please don't forget to do another for 2022 and it would be awesome if you share what you gonna do this year too Hi, this is absolutely incredible. I havent started proper trading myself, but I've been buying and following stocks for a year now. What direction would you point someone looking to get into day trading, in terms of learning resources? First off, great work and thanks so much for sharing! I have a goal of becoming profitable in the next 6-12 months. I'm probably profitable right now on my day trades but my swings are longer term and sitting red currently. I also didn't have a proper stop in place on one of my big swing positions and am bag holding like a noob. A quick question for you - Are there any good communities for people who do very short term day trades / scalping? One other question - Do you have different rules/strategy for the midcaps and higher? I feel like higher priced stocks just don't respect the technicals enough for me to feel confident in them and would probably never use my day trade rules against anything over maybe $20. I love seeing individual success stories. Gets me fired up u/Valckrie!!! GREAT JOB..... I think you should post your trades on an open forum so we can help others be successful. All ships rise with the tide when we follow technical analysis. My Trading Checklist, All Bullish or Bearish: 1. Type of candle- Bullish/Bearish Engulfing, Hammer, Doji 2. Volume- Up or Down as compared to trend 3. 20-Day SMA Divergence- Is there a wide divergence above or below? 4. Gaps- Are there gaps above or below the market? GAPS FILL 80% OF THE TIME 5. Stochastics- Overbought/Oversold- Buy or sell signal? 6. CCI- Overbought/Oversold- Buy or sell signal? 7. Is the CCI crossing above or below the momentum line?- Weigh the evidence to determine who is controlling the price of the stock. The- Buyers or the Sellers? **If the trade meets all 7 criteria (Bullish or Bearish) CHOOSE YOUR TIME HORIZON AND MAKE THE TRADE!** GOOD LUCK IN 2022 APES!!!!!!!!!!!!!!! As you have stated, you increase your risk as your account grew. Did you have a plan or rules for scaling up? Congrats bro, truly amazing! [deleted] What broker did u use? Awesome job, Valckrie! I have one question: do you have (or suggest) any rule/habit for withdrawing what you've earned? I think it's somewhat crucial to practice your mind to actually see (and spend some) the money in your bank account, so you can get that tangibility of the whole trading career. Is there a percentage you withdraw from every month's winnings or only once a year or..? [deleted] Hi OP, this is kind of an older post so I don't know if you will see this comment. But your growth is absolutely astounding and I wish you all the best in the markets! Alas, I am limited by my time zone and lifestyle, only able to trade the first 1h30m of RTH. Do you think it is still viable for me to day trade or would you recommend swing-trading? Just followed you on Twitter. Look forward to seeing your daily charts. Did you face any nerves once you sized up to relatively large risk per trade? How did you handle this? [deleted] Nice post. I am still new, mostly in the research stage but at the point where I want to start practicing with papertrading. I appreciate your post and all the helpful tips. I came here after searching one of the recommended papertrading apps. Your post has a lot of great info. I have a full time job and it pays well, but i havent enjoyed it for the last few years and i miss a lot of time with my family. I am hoping to learn and get into day and swing trading, with some investing for longer term, and eventually be able to leave my job and that hostility behind. Thank you again for your post. Hopefully i can get to a point in papertrading where I am constantly green so I can make the switch. If you dont mind me asking (since ive accidentally deleted this comment several times while searching for the proper terms in your post…), do you do trading mostly on your PC? I only ask because the image banner (on reddit mobile) shows a mobile phone app. I dont know if papertrading is even a thing on mobile, but i think id probably try to use my laptop. Anyways, I see you use trading view, which i understand is recommended for paper trading, but i havent heard of tradeZero. You list it as your broker. Is it part of trading view or different? And lastly, you listed several journals. How do you figure and deal with tax info? Its funny, most things ive read talk a lot about how to trade, but not about taxes and how to manage that aspect of trading. Sorry for the silly questions. I saved your post and will add it to my binder of info ive put together to help me out (hope thats okay). Thanks again for your post! any discord channel? How did you manage to watch the markets all day while having another income? I work full time and find it nearly impossible to pay attention to intra-day price action since I am so busy What stocks prices you were trading in the beginning of your journey? \> I primarily traded sub $10 stocks. Now I have moved onto midcaps and higher priced stocks since I don't want to pay as much short locate fees. u/valckrie I'm a bit late to the party, I also use Tradezero and have a similar trading style to yours, what's your criteria for shorting lowcap top gainers? I want to short them but the only thing that makes me hesitant is the locate fees, if the stock shoots up you get stopped out and have just lost what you paid for the locate, so how do you make sure it won't shoot up, what's your strategy for shorting small caps? >1% on okay setups, 2% risk on great setups, So do you calculate where your stop is based on a support level? Sometimes those can be like 10% below an entry point? Or do you have your entry point and say ""ok 4% drop from here max""? Having problems setting stops from my entry. I tend to set them too early, but setting a stop at like 15% below entry (at a key support level) just seems so big? This is one of the most inspirational posts I've ever come across. It's especially so because you sell nothing and seek nothing in return. Thanks so much for sharing your journey. May I ask - why did you choose to go with tradevue as opposed to tradersync? (I am asking because I am looking for a good journaling and trade analytical tool for myself and these 2 seem the best options) someone has diamond hands💎 When do you buy the grappers? Premarket ? Hello mate, how's 2022 going so far? Hey, my question is just about how the numbers work in practice. If you have 20+ trades in a day and each trade involves a total amount of money of at least 5% of your account (assuming at least that much since your risk is 2% of your account), then wouldn’t your account money turn over too much and you run into settlement violations? Thanks. Thanks for sharing this, and well done. I can only imagine the mentality and mindset required to push on with this. I’m new and have been worried about not having huge capital to play with to begin. So thanks for showing what’s possible. I’ve sent through a message on here and through twitter DMs, please do have a look. I look forward to it :) Does 2% max risk mean you put stop loss at trade amount - 2%? Or you go in trade with only 2% from all your capital? Do you trade with cash or margin account? What Level 2 data provider do you use? Sorry for a lot of questions. I appreciate your clarifications ) I wish I could find a mentor, especially now. A trader's path is lonely, with many of its roads leading nowhere Hey brother I’m currently on my 2nd month journey of studying my strategy and practicing with it. I want to start going live now with $1000 but would like to talk to someone about this while on my journey, is it okay if I pm you? Thanks. I do have a broker max loss but even I suffer from discipline issues and have taken outsized losses from adjusting it in the middle of the trading day :) I assumed they meant their stop is set for a 2% max loss relative to their account balance. Though clearly they also said they will push to 3% for the right set up... I get the sense that OP is toeing the line between trading on emotion and instinct based on experience, which is something that I think most of us struggle with. It's difficult to compartmentalize and be consistent, for me anyway. anyways - I.e. OP wakes up with a balance of $100k. OP wants to buy 5000 shares of ABC @ $10 for a total $50k. OP has spent 50% of his trading balance, but only wants to risk 2%. Though he might set a stop at \~$9.60. If he loses the trade, he'll lose $.40 a share, or $2k. $2k = 2% of his $100k balance. If OP messes up with the stop or doesn't close out before the bell, they stand to lose more than the 2% max the strategy calls for. The #marketrebellion has great coaches and can mentor you if you chose to have individual coaching sessions. Individual coaching sessions are worth every penny. I have learned a lot and am building my wealth. appreciate the kind words! [removed] [deleted] it's a real shame that I can't use Centerpoint or Cobra like US traders can Tradezero is so goddamn fucking awful, it is incredible they have a clienture. So SO fucking often it has connection and charting issues and straight up does not execute or double executes etc. Not to mention their UI and order entries and option management is like 10 years behind Kids please, stay the fuck away from TZ. I wish I had, I have by now swapped to DAS. edit: to clarify my point, I suggested to find a mentor or community that matches the style you wish to trade, as everyone is different. As with everything you should do your own research and review before making any decisions - since not all rooms are teaching proper trading. Also learning from a mentor doesn't automatically guarantee success, it's still down to the individual; in the end statistics hold true and only 10% or less will make it. I did not intend this post to promote any service or chatroom, and I do not run any services myself. I traded in the same group that OP traded in and funny thing is the owner of that group has posted in this sub but his posts only got like 3 upvotes and no comments lol Honestly, these were my thoughts also. Anyone that can do a write up like this can also succeed in their goals. My scan is pretty simple. If you are an active trader then you have watchlists from prior days/weeks of stocks that have been making big moves. Then you have new gappers on the day which is just high premarket % change or volume leaders on the day doing extreme volume. Momentum traders may also use TradeIdeas which is good at detecting new high of day price levels on stocks I'm 6 months behind you and I've said this time and again. Every time I learn a bit, I find out there is a whole bunch more of just that one subject. Where would you recommend to find a mentor? 3rd picture was for December only Going through different reading groups trying to learn. Been at it for a couple of years but I feel so behind like I’m not sure what I need to learn and how to grow consistency. I like your advice I’m going to try that. thanks but i've only done one, unless you are thinking of the wrong person have no plans currently but you never know in the future +1 +1 Didn't take my stoploss and lost 5x what I planned to on the trade. All losses are tough, but I knew where I should've stopped out. Discipline failure even if you showed 100 people your edge 90 people would probably fail to execute the plan in action. and I have no intention of telling the world my exact strategy either I am so amazed at a couple of you guys reacting like this. I probably thought the same way a couple years ago, but I think you guys see too many ""YOLO"" style traders and think 6figs is only feasible like that.. Matter of fact, most seasoned traders do not find 6 figures ''enough'' in terms of the opportunities provided in the market. Stop looking at the percentages, and get his starting account size out of your head. That's what makes it seem impossible to you. A US trader starting off with 27k and trying to stay over PDT with/without leverage, is essentially in the same situation as him as he has BP, but little room for failure. It sounds more likely for them to succeed because of the account size, but it isn't. With leverage, everything is possible. Once you hit 2500 with TZ, you get 6x leverage. With a small account, if you want to grow quick in the beginning its boom or bust. So yes, if you refund your account each time you go bust, and come back with new tools in your arsenal, eventually you will place yourself in a goldilocks situation where you will boom. The first quarter of 2021 was amazing in small caps. In Jan 21, he was mostly green, 100-400 dollar days. Then he got a great opp. Jan 28, making 7.1k. Remember he has 6x leverage. So he has plenty of BP now and can trade comfortably. He kept his losing days under control for those next few months, and that's it (his losing days in the last Q are a bit outsized but that's another topic). Another point is the psyche of someone trading a small account. Having constantly been in survival mode, often having seen your account down 50% in the beginning etc., it's likely you'll barely flinch once your account starts getting much farther away from 0. I have been trading since Dec 2015, back then there were brokers who gave out insane leverage, like 10x on a $500 account minimum. There have been thousands like OP. Many of these traders come and go, or come and go on to do amazing things. Most of the ones that go on to do amazing things drop off from the face of the earth, only trading within their small circle. Some become gurus and start services - be wary of these, there are few that are legit, 95-99% of traders fail. And I do have to add - 1.5 years is NOT the norm. Most traders haven't been through enough market cycles in such a short time. Year 2-3 of full market time and excruciating pain is more feasible. Perhaps in the future I'll start a blog telling my story, having survived the trading gulag. There have been thousands like him, please open your mind to what is possible. It is NOT easy, AT ALL (this isn't stressed often) and many don't actually keep the profits. Still, no matter your account size, if you keep risk management first, you'll grow it in the right conditions. The key is to have resolved all of your trading issues, so once you do grow, you will actually keep it. I think that's why they put up the kinfo link. If I understand correctly it's one of the best ways to show what they're showing. Eh i know quite a few people who’ve done similar amounts. edit: to clarify my point, I suggested to find a mentor or community that matches the style you wish to trade, as everyone is different. As with everything you should do your own research and review before making any decisions - since not all rooms are teaching proper trading. Also learning from a mentor doesn't automatically guarantee success, it's still down to the individual; in the end statistics hold true and only 10% or less will make it. I did not intend this post to promote any service or chatroom, and I do not run any services myself. If you adopt a long term approach to trading then every bad trade or loss is a learning opportunity for you to avoid the same mistake in the future. Hopefully your present loss will be a fraction of your future negated losses. that's a good obversation and I 100% agree. open is definitely more erratic and you can sit in trends for longer as the day goes on Well, kinfo is a free app. I'm not selling anything. People will doubt for sure, as statistically this is the performance of a top 1% trader in a <2 year timeframe. Who knows, maybe I'll fail in 5 years? this kind of growth is only possible with a small account. the larger the account the harder it becomes eventually I did but went full time later. Big red days are usually from a failure of discipline and not respecting risk and stoplosses. I get confidence looking back at my long term performance and knowing that I have edge in the market. Setbacks are hard but everyone endures them, and like a pullback in an uptrending chart, the pullback itself doesn't matter, it's what happens after and if you can recover and keep going. as mentioned in post I don't have a rigid exit system some general ideas * take partials into likely support/resistance zones * take off some after 2R * clear trend reversals or rejections 1) i don't trade pre-market or afterhours unless there is tonnes of volume, but for scanning its just premkt % change up 5 or 10%+ either direction, anything over $3 is my preference 2) i'm sure all those books are probably good, but I haven't read many myself so can't give any recommendations ""The integration with brokers only supports real accounts, it´s not possible to link paper trading or other types of non-real accounts."" He's also full of bs. He posted a similar post that got to the top a few weeks ago with different figures. yeah, there are many elite traders on twitter look up compounding interest - if you made 2% every single day on a 3k account and reinvested profits after 252 days you would have 400k $1,800 didn't take my stop and took a 5x loss made a costly mistake, i'm not a perfect trader if every trader took their stops 100% of the time we'd all be successful He is lying. He posted a few weeks ago another post just like this but different. 2% risk means the maximum capital lost. The position size and exposure is usually much more than 2%. Most brokers offer margin heard of this somewhere but personally I will stick to my rules :) Yeah so you made that much profit this bull market too then? No? Oh STFU then Significantly overperforming the bull market is the key here... Somebody sounds jealous lolol Tons of people blew up their account in this market. Just because it's a bull market doesn't mean profits are guaranteed. Staying profitable is good, beating the market by this many multiples is absolutely a success no matter how you may want to downplay it. found the Honda Civic He plays both sides he can make money as long as there is liquidity. Longer timeframe swing traders enter based off daily candles and don't even look at L2. L2 is more important for scalping or shorter term strategies imo, so if there was no level 2, I would just switch to longer timeframe Just needed time in markets and slowly progress and learn until one day it starts to click. Small gains everyday in knowledge and experience eventually also compound into proficiency and skill 2% of equity most of the time. sometimes lack of discipline led to bigger losses It's in the post both long and short and it was all equity until recently where I experimented with options my paper trading was on TradingView which was useless in hindsight since wasn't reflective of execution, and obviously lacked emotion Yeah, that's crazy. September just had a lack of discipline and took multiple average losses just effectively wiping out any gains made during the period. In November I took an oversized loss overnight long a position the day before thanksgiving. Then omicron news came out next day and I sold out on the gap down for a big loss. I also took a big loss not respecting my stoploss later in December. The market was far hotter in the beginning of the year but my account was tiny and I wasn't as good a trader back then. change %, premarket change %, volume It's in the files Trade e mini and micro futures. No PDT rule exists. Requires less capitol. And it’s more tax efficient too. TradeZero before - remote job, and now fulltime trading stock. only recently started options effects of scaling. also in June the AMC squeeze happened and provided tonnes of trading opportunities mostly shares if you are into momentum setups then TradeIdeas can be useful I think. if you are the type to wait for trends to develop then you don't need to spot those tickers immediately. you can find them 30 minutes later and still trade it To be fair, any successful day trader is an outlier since mass majority are not profitable I've been day trading for 7 years. You need to learn price action. Most courses end up being scams or just not detailed enough to teach you to be profitable to perform. Check out price action here. It's pretty much all free. https://priceactiontradingsystem.com/ it's from Tradervue Most of the market wizards are billionaires and this guy make 400k and you guys all act like it's the most sus thing you've ever seen. Salty ass sub. Congrats OP! Please don't let all the ""Random Walkers"" that don't believe you can beat the S & P 500 bring you down. not myself but I heard that technical analysis works very well on Crypto tradervue, tradersync, edgewonk, kinfo to list a few apps breakouts and breakdowns from tight ranges, moves in one direction where the other has failed, reversals after a long sustained trend timeframe: 15m is most consistent i find i have a bunch of chart screenshots on my twitter 1. yes, which is why I'm trying to avoid low priced stocks when shorting - the borrow fees add up. Sub 3$ is basically total avoid for me nowadays 2. for entries since I mostly trade breakouts/breakdowns I take liquidity. once i'm in a trade and exiting partials its adding liquidity 3. i started off self assessment but now have a LTD company. i do use an accountant think he's from UK you only get free commissions when you add liquidity, but still pay fees on removing liquidity yes, i use margin. not heard of GFV - google seems like its a cash account thing? TradeZero international has no PDT rule so is good for small accounts. I'm pretty sure it has more locates than IBKR too. Tastyworks is for options afaik no more mentors but i learnt from the tonnes of free info out there. lots of traders put out quality content on twitter, as well as prop firms on youtube etc >LST room moderator. what's LST room? replied elsewhere: ""Big red days are usually from a failure of discipline and not respecting risk and stoplosses. I get confidence looking back at my long term performance and knowing that I have edge in the market. Setbacks are hard but everyone endures them, and like a pullback in an uptrending chart, the pullback itself doesn't matter, it's what happens after and if you can recover and keep going."" it's in the December stats picture note average holding time stats are not accurate for daytrades due to some overnight/swing trades affecting the average a more accurate number is around 30 mins to 1 hour i usually put in range orders once in a trade but i will modify exit plans if i see a clear reversal happening I am actually pretty risk averse and most days don't end up taking the full risk I should be taking in some trades. Lately even more so as my account grows I've been leaning more to 1% on alot of trades. Before every trade I enter my entry and stop and calculate share size and should prevent any oversized risk trades. I don't recall any specific techniques other than after trading the same setup or seeing the same patterns so often, you kind of know when you're too early and it isn't quite perfect yet. I haven't had any issues since I use to work in front of the screens before. The standard advice is probably good, to just take frequent small breaks out of 1000 people reading this 100 might become profitable traders. out of that 100, 10 might become extremely profitable. out of those 10, a few could match or outperform these returns Hahaha well Reddit is for losers and I’m only here to see what the apes do, but I’m near these returns, so definitely possible, however most people will fail. with multiple monitors you could have them both open. or you could float the TZ order windows next to your chart. i'm not quite sure where is actually one great place to start since there are so many great free resources out there. a good intro book is ""How to daytrade for a living by Andrew Aziz"", afterwards you will have some idea of topics to google and research further if you google ""daytrading chatroom reviews"" there are a few review sites which write their opinion on some rooms. the concepts by which I trade mid large caps are still the same, but more often you need to look at larger timeframes on them for it to make sense used a 2% risk adjusted often to achieve compounding effect when you short sell you have to buy to cover your short. if you look at the chart that day it started downtrending from noon. i started shorting and covered (buy) to take profit on the way down. i also added some back short later on. that's not too uncommon to have many small losses when trade isn't working but when it does you win larger have no particular rule at the moment the intraday scanner is very simple just % change on day or volume. benzinga pro squawk also helps with breaking news. other than that I just watch alot of sidecharts (16 in total) of stuff I been trading the last few days Also, if it's possible and you're willing to do so, could you share your cumulative P&L in the log-scale? That will better show the growth rate and trading consistency over youe journey. sometimes, but if you think about bet size as 2% of equity it's not a huge deal statistically I take >3% risk and usually it’s once or twice a year where I land on massive loss. It works for most of the times. However, it could drag a while for it to come into +ve or going down below 3% Yes I trade always on the PC, you need a PC setup if you are going to take it seriously IMO. TradeZero is a broker and has its own platform. Completely unrelated to TradingView Tax depends on your country and I'd advise contacting accountants to provide you expertise in that area You can use replay to watch after work, but mostly you don’t need to trade all day I don't trade many smallcaps these days. I don't have a specific criteria for them but if I wanted to short I would look for a clean chart pattern. You can find lots of twitter traders who focus purely on lowfloat gappers with their stats and criteria but it's not my style sounds like your entry spots are too wide then. i dont think about % its always a dollar risk per share. e.g. you enter at $17.50 risking a higher low at $17.25. thats 25c risk stop is always at price point in the chart. never an arbitrary percentage thanks. when I started I didn't know about tradersync and now it'd be a pain to migrate data over to new apps, and tradervue is good enough most daytraders use margin accounts... therein lay the problem. how many times have i changed that ..for better or worse we all do it How where you able to trade 22 times a day with a budget of $1800 ? That would mean if you risked 2% like you said you played with $36 a day but that would also mean you had to have made over 100% gain in all 22 trades to even touch 1500 a day. I might be legit retarded but thats not making sense to me. Edit: it says you made $15k in a day not $1500 i missed a number. Which makes this totally unbelievable. Unless i missed something because obviously i dint read the whole thing. Lol >Now I have moved onto midcaps Hi, did you even start using Fibonacci levels ? I see you used to play poker. Do you still play? What are your results there? Congrats on the great year! I need a journaling app will check out tradervue unless there's a better suggestion? What app does he want people to download exactly? He listed a ton, but didn’t specifically mention to download anything. Unless I missed it somewhere in his post. CMEG is another offshore option that offer DAS and/or sterling platforms. Are you Canadian? Why did you choose TZ versus IBKR for instance (sorry if this is a dumb question, still learning here) IB/DAS mate. Sign up on the waiting list of centerpoint. You should be able to use Clear street clearing house with CP this year. Been with them 4 years now but recently banned us in December 100% - I learnt the hard way. >DAS Is DAS available for Non-US based residents? Since OP is from the UK. How did you go about finding a community or mentor? I hear it often to go out and find someone, but I keep coming across groups where they just do trade signals or just copy cat trading without any real discussion. Would love to know as well as I embark on this journey. Thank you. (Ps. Do you offer any mentorship?) Can you DM me too? Dm pls DM please. Cheers. dm thanks Dm me as well please. Dm please and thank you! Dm pls!! I have thesame trading style as you, I'm having difficulty getting a premarket scanner for large/mid caps. Which ones do you use? I currently use webull and tradingview scanners which are very good...but only for the lowcaps. I'm thinking I have to go with a paid scanner, which would you recommend, finviz or tradeideas? Oh geez, I now see the label. Sorry Oh yeah, just Chat W/ Traders :) I also believe you have a talent for teaching. Go down that Avenue because you have become a virtuoso in trading. Looking forward to it. The profit you've made will let me retire early so I'm eager to get better at trading / investing. Cheers mate Your ""exactly strategy""? Yeah, you're probably better off keeping that one to yourself. just saw this, agree with everything you said Still unlikely. The way I see these this is - it might be a great example of survivorship bias. Assuming it's not, OP's going to make a killing in the next few years, which is just awesome! We'll wait and see, hope they will post a follow up in a year :) Can you DM me your trading community as well? Could you also DM me please? Thanks a lot! You posted a similar post here last month with different figures 😂 Not true whatsoever lol u should be risking the same percentage on each trade regardless the account size to remain sustainable over the long haul. Good luck 👍🏾 As someone going full time soon. At what point did you decide to go full time? so you dont use hard stops? no stop market orders? just mental? ​ ​ Thanks [deleted] Interactive Brokers paper account sure doesn't seem like it has a problem linking with it. Who do you follow on twitter that would be worth following? Surely even the best traders don’t make 2% a day. Maybe 2% a month. Not that I’m accusing you of lying but I find that very hard to believe you are the next Warren Buffett. Not questioning your stats, I buy it. But are you making 2% of your account value, or 2% of the 2% your risking? Although I guess you said your looking for a 1:2 RR... So nvm I think i answered my question. Nice work! Definitely had some good takeaways from your write up. Even more impressive. Gives me some hope, as I have a similar size account. My W/L rate is 69-70%, but I am still hemorrhaging money. I cannot get the hang of cutting my losers short and letting my winners run. Because I have such a small size account, my stops are so tight that it’s a real challenge to find that sweet spot of bigger wins and smaller losses. Of course $50k without day trading $11k just on Lucid. And I'm not an active investor nor do I play any options. So yes a bull market. No bull market pretty hard not to make any money. No envy that's one of the 7 sins. I congratulated and stated the current market we're in. Love to see this in a bear market that would be worth posting. Lots of growth stocks ate folks. No down play but actual fact of a bull market. That statement mean nothing, the only way to make serious money in a market is to catch a trend. Why did you go live when you did? Thanks ! Yeah, I re-read your original post after commenting, but forgot to edit mine. Either way though, very awesome stuff! Awesome. Did you quit it overnight once you felt like you’re at a good place or did you gradually scale out of it? I see you tweet about AMC a lot. How much of a factor do you think that stock was to your overall success? I was trying to say congrats to OP for an amazing performance I have no idea what your going on about… are you upset with me or what? Edit/ I read all the comments and nobody besides your dumbass is salty Thanks Thanks I'll check out your Twitter What’s your Twitter? I think you could be worth a follow as well cool info dude. do you try and work always till 9pm? (market close), or do you like to log off earlier? and i guess how about premarket, do you sit down before 2:30pm? just wondering what your rough working schedule looks like. thanks for sharing your experience buddy, inspiring for me who is just really starting out full time now. Ever trade mini and micro futures? No borrow fees for shorting. But no free commissions either. Can you recommend any twitter accounts and prop YT channels? is a paid room service, not worth it really cause the dude who runs it does 1 or 2 trades a day based on the setup he likes; the OP is one of the mods and they kidn of talk about their trades but you need to have some experience to follow it. If you want the room to avoid it, shoot me a msg so that the rules aren't broken How much is your position on a single trade? That makes sense. I take it most of your trading is done at open then? Also I'm looking to switch brokers, it sounds like you're happy with TradeZero. Do they negotiate their commissions or margin rates? Did you joing bbt community by any chance? So that’s it, you always risked up to 2% of account based on conviction in setup? Or once you proved consistency you started risking 2%? I’m a point where I’m finding consistency but the fluctuations in P&L when I increase my size spook me. I know it’s an emotional thing just wondering how you worked thru that… Thanks for posting this, very motivational! Hope you kill it today! [deleted] it's possible but you might be better off swing trading sorry, the journal app i'm using doesn't have that functionality Thanks! >$17.50 risking a higher low at $17.25. thats 25c risk wow ok so that's like 1.4% stop, so tight....that's insane it seems like it would get hit constantly and you'd never make gains (obviously not true since you're killing it). https://i.imgur.com/dNjEDvM.jpg For example this trade (PALI from today 2/2), maybe my entry sucked, but my stop was what looked like a reasonable support level (which turned out to be 11% loss). Blew thru stop then stock rebounds .... so maybe I'm right, but timing is wrong... Would you have set stop at like around 1.39 like I did or where would you have set a stop here? This is what totally kills me because to get to 2RR like you said I need to make +20% on a trade like this... thank you u/Valckrie look forward to hearing more about your trading journey down the road. Yeah, I’ve just never crossed that bridge. This was in December dude, near the end of his journey so far when his account was probably in the hundreds of thousands. When he says he risked 2%, that’s where his Stop loss is at, not the amount of money he plays with per trade. He could use his entire $1,800 on one trade and only risk 2%, $36 per trade. As long as he averages 50% W/L he is still profitable. He is still profitable trading like this even if his W\L is at 40% with a 2/1 RR and a risk of 2% my account was 1800 in January, I definitely was not making 1500 or 15000 in a single day back then. the calendar is from December where my account equity is much larger never used them, sorry i don't play anymore, and my results were nothing special. even though I think they share many similarities you can check [trademetria.com](https://trademetria.com) (paid) or [tradeinsight.net](https://tradeinsight.net) (free) Yep! [TradesViz.com](https://TradesViz.com) ! nope sorry I'm in Australia. IBKR has PDT rule I've been day trading for 7 years. Price action is the way to go. It's mostly free as well. But this will save you lots of headaches. https://priceactiontradingsystem.com/ Try learning price action. This is the way to go and it's basically free. https://priceactiontradingsystem.com/ Bro, you don't use TOS? The scanners there are amazing, I use it to catch +50% gains consistently. wait seriously I think you got the wrong guy. i'm not on there Yes it is, once the position size that would be required gets large enough. The problem is once your account gets big enough, risking the ""same percentage"" becomes unfeasible - you start getting into liquidity problems, seeing lots of slippage, or buying so many shares that you start having to fill out forms for owning a 5+% portion of the company lol. The only way around this is to trade larger cap stocks, and those larger cap stocks by their very nature (larger floats, higher stock price, among other things) means they just don't move like small caps do. Once the account gets large enough if you keep using the same percentage, your trades end up moving the market (or preventing the market from moving if it's a limit order) and reduce the profit you can make on the trade. i mostly use hard stops small accounts can trade most things unless you don't have buying power for high priced ones no mkt cap or float specifically but be aware each category trades differently you can tell by how much volume is being done per minute or 5minutes and it depends on the price of ticker that's what I read, don't know about all integrations you can ask the owner he's on reddit /u/kinfo i understand the scepticism, don't have much more to say since i'm not selling anything Linking only supports real accounts, this is often restricted directly at the broker since all integrations use brokers production environments. This should be the case with IB as well since you don´t have access to a flex token in your paper trading account. Did you actually manage to link a paper trading account? If so I would be very interested in knowing how in order to prevent this. Feel free to dm me /u/kinfo reddit account replying right after this user linking it makes this highly suspicious lol I'm just gonna say bull. And I mean the stinky kind. Warren buffett is a value investor who handles billions of dollars, and is far from being a daytrader. His risk appetite is very different. It annoys me whenever someone brings up his name in this context. You can't draw this kind of comparison. Good daytraders do absolutely make 1-2% per day. There are professional traders with such results working in prop firms. It is far easier to have exponential gains as a small account trader - you have no liquidity constraints at all. The larger you grow the harder it is to compound. Example it's very easy to get 100% on a $1000 starting equity but like you say, probably impossible on $1 billion equity. I have no doubts that my progress will slow down after a certain point Yeah. It's remarkable Day trading is not what Warren Buffett is doing. Also, these sorts of gains are not possible when you get into the tens of millions of dollars, let alone the billions Buffett manages. This sort of parabolic account growth really only works for accounts up to maybe a few million, which for most traders, would be plenty lol. Are you trading stocks or options? Do you use a stop loss orders? You can use wider stops, you just need to size down. Learn the connection between stop distance and position size. It's the key to a constant risk of 1%. So a loss on a 2k account will always be $20. Be it with 20c of risk (100 shares) or a dollar risk (20 shares). The amount you risk on a trade is always the same. Dude, own what you said or leave. You weren't congratulating him. You we're being sarcastic. i was profitable on paper trading and thought it would translate across to real. spoiler: it didn't once i was making multiples of my monthly salary... same as reddit handle I stay till market close but eventually I would like to spend less time in front of the screens I rarely trade premarket anymore Personally I haven't, but I'm sure you can do fine in futures too smb capital, seven points capital search for day traders there are a few lists out there depends on price of the stock and how many shares you take. both of which depends on the risk for that trade. had a position size up to $1M in a TSLA trade from stats the best trades have come from 10am-11am. i'm not sure if they negotiate not that one i don't use that scans that much because i have enough charts to watch. but in general yeah a large % change usually has a reason behind it, some catalyst or news your risk is pretty wide but theres nothing inherently wrong with that if you believe it can move 2R in that direction... the fact is you are longing these smallcap gappers when the market is kinda dead for them right now Yea you're right. I would like to see a calendar snapshot closer to January. Not saying its not possible but damn just under half a million in profits in a calendar year all while risking 2% of his portfolio is something amazing. Meaning if he would have risked even 10% or 15% a few times he would be a millionare from $1800. 👏👏 Ok makes more sense How do you trade so much with a small account and not get hit by pdt? Thanks bud I'll check it out Ahhh danm. You are correct. Yeah not many options for traders living outside USA. Especially not for people like me living in South Africa. Thanks for letting me know and well done with the Profits. It's honestly mind blowing, I'll be really interested to see your journey continue. TD Ameritrade won't let me open an account. >+50% gains consistently. How did you set up the scanner? Premarket pennystock gappers? Any additional info you would be willing to share would be much appreciated (DM is ok if you’d rather). Oh shit you’re right hahaha. You trade very similar to the other guy I was thinking of. Where’s your podcast out of curiosity? [deleted] You guys are just jealous. *Sigh* Replying to this comment, is that suspicious too? Skepticism is good, I can give you credit for that, if you have questions I will gladly answer them But that’s risking a lot of your equity no? You said you where risking 2% per trade? stocks yes What was sarcastic congrats or bull market ignoramus hey valckrie, hope you are still answering queries in this thread. would appreciate your time answering the below if you can? just took my first huge drawdown, pretty bummed out. so just wanted to ask a few queries. most important ones for me are about risk i guess. 1) do you use hard stops? 2) do you always know what your max loss is going to be on any trade? 3) how disciplined are you with the risk? i mean averaging down etc... do you think you can improve or do you sometimes give some leeway and buy out of trouble? 4) do you ever have more than 1 trade on at a time? 5) stock selection criteria, i think im right in thinking you have monitors with a total of 14 charts on and you are just waiting for setups? 6) scalping. did you ever go through a scalping phase? that's what im in at the moment really, dont like holding longer than 5 minutes really... or should i say 'i am more comfortable' holding for under 5 minutes. 7) mentor/chat room. there are a bunch out there really, if i was to join any it would be the one where the lead guy's initials are NM, first name rhymes with gate. i don't know if you have any opinions on good places for me to idle do you? i am fully doing this on my own. just so you know my situ, not employed. have savings. trying to make trading dooable. really just want to try and make 100 dollars a day at the moment, 2k a month average. but with the huge mess up last week whereby i added in and added in didnt define or stick to any risk or plan, bummed out but know i need to learn from this (was paper trading for a looooooong time there is no excuse in what i did really) thanks dude Thanks. Do you have an alert for spotting breakouts/downs? Do you ever have an issues trading with a size that big? last December: https://i.imgur.com/S7AMBD1.png i'm not US based I can’t tell if this guy has a cash account or not. But pdt doesn’t affect cash accounts. Only margin. IBKR does not have PDT Rule. They moved their headquarters from the USA to London at the end of 2020. So they don’t have to force the PDT rule anymore. I know this for a fact because I switches over a month ago and am under the PDT rule at the moment. Not necessarily pennies, I trade options bro, but yeah stock volume min 100k, options volume min 1k, net change option min +.01, days to exp max 15, nothin crazy bro My bad, I gotta find a way to get notifications on this thing lol...but sure, YouTube sizzle index... Jonathan rose specifically... that's my exact strategy it's not really a podcast and it's not public haha both of them can be good in different scenarios It's not the fact that you replied that makes it very suspicious, it's the speed of when you replied which raises my eyebrows how so? risking 20$ in a $1000 account isn't much. say you win 2R then you made 40$. and if you take many trades every week and month and you have a positive expectancy outcome then you eventually grow it You know there is a rule in this sub about not being an asshole? i set alerts at price levels on TradingView and have 16 small charts on my side monitors watching Good insights for new trader/small account. Thanks for sharing So you traded the NYSE from outside the US. How did this affect your time zones/working hours? Or are you in similar time zones so it didn't matter much? Fantastic post by the way, I've saved it. Very thorough, and to be honest, indicative of why you have gotten to where you are now. Question on crypto, how much did you dabble into the crypto markets; was it minor compared to your stoke trading? Don't you need to wait to trade with settled funds? What's PDT? He got hit with borrow fees does that mean it was a margin account? It does effect cash accounts under $25k if you make 4 roundtrip (with in 24 hour) day trades with in any 5 day period. The SEC allows brokers to remove the pdt requirement if you call and ask, but they will only do it 3 times a year. As soon as you reach the SEC pdt guidelines, your broker is forced to only allow closing transactions for the rest of the year. But, aren’t you allowed to day trade with a cash account? As long as your account is not carried by IB LLC or IB UK. For example if you're Canadian and your account is on IB Canada then you're not subject to PDT. If your Canadian but your account is on IB LLC [US] then you are subject to PDT. The issue with IB imo is their platform, TWS, it's not the best for charting and interface, and it uses smart routing. Fair question! I use various services which detect mentions on social and on web in general, this post triggered an alert and I replied Let me know if anything else, as said, I understand skepticism and I am happy to reply to questions to kill any doubt about authenticity What was your % profit each month? Then you need to follow the rule. GMT time zone is 2:30pm to 9pm, not so bad I never traded Crypto itself, only the stocks related to it, such as bitcoin miner companies like MARA RIOT In a cash acct yes 2 days for stock 1 day for options and if he’s doing only options then he has all his money next day to do it again Pattern Day Trading Maybe I miss understood or I am still hungover from New Years. sorry I don't have that stat readily available. Would have to look at equity and pnl for every month individually I’m very into this sector. Do you trade options? Does the fact riot/Mara have high premiums relative to competition weigh your decision on which companies to trade? Thanks, American thing didn't know the short form of it Ah ok. What do you reckon 5%? 50%? sorry i'm not an expert in options nor the crypto space Well 0% in 2020 since I was not net profitable. Then maybe 30% some months, 50% or higher in some months, some flat 0% months" Want to Become a Day Trader?,2231,https://www.reddit.com/r/Daytrading/comments/mst4lu/want_to_become_a_day_trader/,"Godbless you sir [removed] This guy fucks ! Best post I’ve seen yet . Thank you Sir! Ultimately live trading is the best teacher, real losses and real wins leave a mark you don’t forget. Also recording your trades for reference and analysis later when things have cooled down. Definitely learn amap through articles and books, and select YouTube videos. But for me losing live introduces you to the real challenge of trader psychology and emotion. Thank you so much. I saved this post. Appreciate it, sir! Here is a playlist of all the videos mentioned in the post. https://youtube.com/playlist?list=PL221GHe9qQ-o2-5qg7m2JJ08DEmaKjVhn Nice post! Any scalping youtube channel suggestion? Thanks Can you make this a sticky post? This should be continuously updated as new materials come along. Should be the first post anyone sees upon entering the subreddit If I had a award I’d give you one but since I don’t. have this air bro hug 💪🏾🤣 Some heroes don't wear capes. Take my upvote! On the list of daytrading courses I add tradepro academy.I've been member for a long time and highly recommend them. They trade futures and recently options. Beautiful information. Thank you! Thanks for the share ! Seems like you put some effort into this 😜 [removed] [removed] [deleted] Wow thanks for the efforts putting these info for the rest of us!! Much appreciated!! 👍🏼 This is great, whenever someone asks me how to get started I’m going to send them to this post. Nice job. I second taking a course. I was very cautious to commit, but I just completed one of the ones mentioned above and it was the best thing I ever did IMO for my trading ( already had few years experience swing trading- but no real strategy). It's sad to hear the one I took is banned- curious to hear if the mods of this page have actually been through said course or spent time in the chat room? My experience has been super positive Plus one for Bear Bull Traders (I am a member). Specifically, start with Thor and Jarad's stuff, which will help you get a wholisitic understanding of the market. Market auction theory, accumulation and distribution, etc. Also don't try to trade on Trading 212. The most volatiles stocks have spreads that are ridiculous and you would have to be a trading god to beat them regularly Thank you for the info!! Thanks for the valuable information! Appreciate it. Getting in to it these days and was looking for content like this. One more important thing. If you are using a margin account and want to make more than three trades in a five day run, make sure you have $25k in your account. Anything less, you are limited to three trades in a five day period. It sucks if you get locked down if you violate the day trade rule. Plus one for Bear Bull Traders (I am a member). Specifically, start with Thor and Jarad's stuff, which will help you get a wholisitic understanding of the market. Market auction theory, accumulation and distribution, etc. This is very valuable information all in one place! Thank you! Sweet! Thank you for posting this Thanks! Thank you sir. big big thank you! much appreciated. Thanks man! THIS is what I call a value post! Yes thanks for this list. I've been meaning to delve into youtube university to learn more, but there's just too much information to sift through, and I have no way to know if a given video is good advice or bad advice. Being given these starting points has made for a good day. I learned some strategies that had not occurred to me, and i have still have many vids to watch Definitely one of the best posts I’ve come across on this subreddit. I appreciate it so much wow Thanks man good post! Automatically saved. Thanks for share this information! I can in to see what sort of snark awaited, but was very pleasantly surprised! Thank you for your efforts. Thanks for this, I was having great success till this huge sell off in late Feb. Now every time i sit down at my computer i lost 1,500 - 2,000.00. im about to throw in the towel This is great. Thank you! Looks like I will have a few more hours of videos to watch. Thanks Saving this gold Yooooo this persons out here doing Gods work 👏👏👏👏👏👏👏👏 this is the way✊ TL;DR Remind Me! 1day Thank you! Relentless Trader, streams his live trading and narrates over it, if you wanna see what your average trader looks like look him up. You came to me like a dream!!!!!! just buy a few books, read them, get a system, get a journal and start. Perfect Timing. After holding myself back I just started this week and ofc lost a bit money. But that's fine, I was sure I had to pay ""Lehrgeld"" (german word for making losses but gaining experience). Thank you!! Join a trading community! You need a group of people to learn from & support your journey. Most ppl will not support your day trading venture. It’s crazy to them. I joined the chart guys.com & I am learning all of mentioned above. Good post! I used to be a great options day trader until I lost it all XD. I was making an average of $10k weekly. It was crazy. I didn’t take any courses or anything. Learned all by myself Hey OP, I have a question: do you think this guide is viable for crypto daytrading? u/LimaCharlieFishing Saving this to recommend to people who ask, thanks for putting this together!! Post saved! Thank you for this. I've bought books and done loads of studying on day trading. I've had massive success on long-term swing trading, but day trading is such a hustle and I completely agree DO NOT START IMMEDIATELY! I found good trading programs that help practice day trading with ""fake"" money (I forgot the term, my apologies.) Can't wait to learn more. I read somewhere an important quote from a professional broker that really stuck with me: ""I realized I'd be stuck working a miserable 9-5 for the rest of my life unless I could find a way to make money while I slept. So I began trading."" And I am tired of being poor, I'm tired of working my life away. I mean, I make amazing money but I am miserable. I'm so excited to begin trading much more intensely. Thank you again for this! This post is pretty fucking awesome. Oh and, “this guy fucks!” Hahahahaha. I’ve been trading options for the last 4 months and have even day traded some options, but I’ll go through each of these videos. Thank you,but how to intraday trader an derivatives (options,credit spread,warrants and futures) A question I’ve always had is how to you pay yourself as a day trader? If you take out money for life expenses, that’s money that could have potentially doubled in the market. I traded 100k on margin yesterday and was in the trade for about 30 seconds and lost $500 because I got scared Oh boy. Buy a course? How many of those people who offer courses are financial advisors?? What are their license? Quite a lot of the people who offer courses are scammers who paper trade, use fake pictures, no skin in the game, and barely know what they're talking about. I follow guru leaks on twitter and everyday it amazes me how those people can hook people in. It's almost impossible to sell a course and not violate the law. The bigger and more well known the person becomes this https://www.ftc.gov/enforcement/cases-proceedings/2023073/ragingbullcom is what will happen. It doesn't matter how many times they say it's not investing advice. [removed] Which is a good course to take? Yes, fresh meat. Blood for the blood god. Brutal market, good luck to all! Awesome Thanks -🦍 Step 1: fund your account with more than $25K All of this information and you miss the most important thing of all. Real trader have to have at least 60K in their war chest Who needs day trading when you can become a millionaire just holding GME Very informative indeed You can browse this youtube for some ideas and pointers https://m.youtube.com/channel/UC77s87UDGiSUIHVarVa6TJQ/videos And you can always search ultimatetraders here on reddit for tips [deleted] F https://youtu.be/kNQwWES9Bx8 Thank you for this. Eager to watch all these videos. Great post Well put and well structured! 🤝 Good stuff You must be an angel. God Bless you and your good soul. This is freaking amazing. Thank you! Thank you! Very nice post. But the most important advice I can give as a professional trader, keep it simple. Does this apply to cryptocurrencies aswell? Yes! I don't know. Kind of defeats the purpose of this forum. I'm sure it got out of hand with advertisers pushing the program? I don't know. He’s banned because he sends unsolicited PM’s maybe because his course is like $6000 lol [removed] I think it's because his method depends on his followers following him into his trades. Haha... Thanks. I'm glad to provide something useful. This is only a small start but at least people won't be going in blind. Yeah, Jared has a no nonsense approach which resonated with me. Plus the minute he showed his 3 bar play and said he didn't use indicators on his charts, I was like, ""You sunuva bitch, I'm in!"" >playlist I've just wasted 5 minutes... PS we have the same duplicate in the list :) Thanks Tawo. Uri muZimba? https://youtu.be/vJREPX76eBQ These guys are really good, live every day for the 1st 3 hours and the last 45 minutes, been watching for a week and have learnt lots, have also broken even in the 1st week which is pretty good when just starting out. I'm only saying this because I took the course but live traders channel has great resources. Hey, no worries. Thanks for the comment and bro hug. Awesome! These recommendations are great. Feels amazing to withdraw gains and take those gain and spend it., best feeling in the world. I felt something like this was long overdue. [deleted] I just finished it, was an amazing journey! I'm not clay. I'm not any of these people in the videos. But, they do provide useful information. So question for people who pay for courses like this, when the same guys who run the courses also put out a lot of free stuff on YouTube. Is the paid stuff significantly different/more helpful? Also a member and a big plus one for Thor’s latest material on volume indicators and pivots. It has been fantastic and by far quicker than being on my own. Everyone there has a different focus and helps you naturally find the trade style that matches your personality. [removed] Do you need the elite membership for this? For those who are in US. You can ""bypass"" this rule trading futures. Although, a different world than stocks and it not the purpose of this post. [deleted] Or have two broker accounts? Would that work? Why are you spamming this??? YOU are part of the reason why other ppl don’t trust some legit sources. No one wants to be sold here. I get hustle but damn I will be messaging you in 1 day on [**2021-04-19 04:39:15 UTC**](http://www.wolframalpha.com/input/?i=2021-04-19%2004:39:15%20UTC%20To%20Local%20Time) to remind you of [**this link**](https://www.reddit.com/r/Daytrading/comments/mst4lu/want_to_become_a_day_trader/guxry5s/?context=3) [**CLICK THIS LINK**](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5Bhttps%3A%2F%2Fwww.reddit.com%2Fr%2FDaytrading%2Fcomments%2Fmst4lu%2Fwant_to_become_a_day_trader%2Fguxry5s%2F%5D%0A%0ARemindMe%21%202021-04-19%2004%3A39%3A15%20UTC) to send a PM to also be reminded and to reduce spam. ^(Parent commenter can ) [^(delete this message to hide from others.)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Delete%20Comment&message=Delete%21%20mst4lu) ***** |[^(Info)](https://www.reddit.com/r/RemindMeBot/comments/e1bko7/remindmebot_info_v21/)|[^(Custom)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5BLink%20or%20message%20inside%20square%20brackets%5D%0A%0ARemindMe%21%20Time%20period%20here)|[^(Your Reminders)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=List%20Of%20Reminders&message=MyReminders%21)|[^(Feedback)](https://www.reddit.com/message/compose/?to=Watchful1&subject=RemindMeBot%20Feedback)| |-|-|-|-| I don't talk about options here. It's a whole different animal - plus, I don't trade options so it would be wrong of me to even try and make a post about it. I've never traded crypto so I am not qualified to answer that question. Buy tsla calls at any low RSI go grab lunch, profit? This is just for trading stocks. I don't trade options, futures, forex, etc... I'll be honest, I'm employed and day trading money goes 100% into building a large trading account. So, I don't pull money from my account...yet. Yikes. Paper trade sounds like a good start. Reduce your share size don't think of it as 100k just think of it as shares....i'm always 100 to 200k margin position for scalping.... To be safe trade stocks like Apple, RCL and UAL whatever just stick to famous companies as they always bounce back...hack trade spy Whatever you do DONT chase scanner stocks, avoid fomo. I could care less what the market does all I care is what apple, cruise and airlines are doing. Tesla is good if you got the stomach for it. Hope that helps. Anything, and I mean ANYTHING where money is involved, you are going to get scammers. They exist and have existed since trading and money have existed. Bernie Madeoff was a financial advisor who scammed a lot of rich out of their money but that doesn't make ALL financial advisors scammers. I said you don't \*have\* to invest in a course in my post. I took one and I'm a ""Professional Trading Strategies"" graduate (PTS). The course doesn't guarantee that I will be a great trader - that part is totally up to ME. However, without that course, I would have never known about risk, stop losses, level 2 data, time and sales, trade patterns, how to scan for stocks and gaps. I took a course because it was the right thing for ""me."" I learned more than I would have on my own in a very short amount of time. There are a LOT of people who don't want to take a course or they don't have the money right now to take a course. THAT'S OK! I decided to give everybody who comes here a better chance in the stock market than just going in blind so they can lose their money. **What do I get out of it?** We all benefit if more retail buyers play the stock market. That's a true statement! Trading takes a certain type of person. Not everybody can be good at it. Otherwise, everybody would just be a day trader. A lot of people want to get into this because they believe it is easy money. The discipline it takes is very rigid and the amount of work, patience, and sometimes PAIN can often be too much for someone. It's definitely not for everybody. [removed] Watch videos by people in my list if possible. Whichever person resonates with you, that's your recommendation. Normally, I would downvote this type of comment but in reality...You're not that much off-point. The more people (retail buyers) who play the stock market the better the market as a whole will be. I don't WISH for anybody to lose. Regardless, the fact is that EVERYBODY who plays is bound to lose a trade or two. I did this because I want more interest in the stock market. As traders, we ALL benefit from more retail buyers/sellers entering the market. God I so look forward to GME shitting the bed (AMC) even more so. Sick of that ticker popping up everywhere cause delusional people with averages above 300 are still waiting for that „MOASS“ Dude, no offense but you've been pimping your services in every post and it's getting annoying. I'd hate to answer this. I don't trade crypto. However, the money management applies to everything. [removed] Lolol. I wouldn't doubt it. I learned about him on FB ads. That's too bad, his youtube channel is really informative and he seems like a genuinely nice guy. They only contact people through email, all the bots and fake accounts that are impersonating him is probably what you guys are seeing. Just sayin'. I do agree they over advertise though What does he teach that others dont ? How does he justify taking 6 k to teach you how to blow up your 2k account. Also 90% traders fail/loose money and quit after a year...so I mean, does it make sense to attempt this endeavour and hope and pray you are among the small percentage that succeed. Per year Holy shit. I never saw that before. lmfao! I've spent months in the chatroom I would completely disagree. Most the students aren't even taking the trades he takes people who think this are cynics that actually know nothing about the market 😂 In the last 2 weeks many of the chatroom traders made more money then him. He had huge losses. I agree that sometimes he does pump and dump - there is no obvious sign of a squeeze, he buys, then a sacond later he says that on the stream and you can see the price rising 2 seconds later, then he sells after 2-3 seconds. Then he keeps repeating again and again that he is anticipating a rise over some price, people buy, price goes up, he sells. I think that only beginners follow him. I think that the chatroom is very useful for stock ideas as many people are watching the market and write about any significant moves. I have seen teh 3 bar play before from a few other trader gurus and I have had the same reaction. [deleted] Yes. yea very good stream, i watch this one everyday When did you buy the course and are you a successful trader because if it? Which courses from Live Traders did you take? I've been watching a lot of their videos as a beginner and I'm loving Jared's personality and been thinking about taking an introductory course. What would you recommend? Thanks man. You rock !! Oh it definitely is Can't read can you type is correctly? Still in ESL class Do you feel you have a better handle on day trading after the course? I keep hearing people say one day it just clicked... Ahh ok. Wink wink 😉 Yes, it's better-structured and more in-depth. I'm learning much faster than if I tried to piece together youtube videos. There are other things. Bear Bull, for example, has group mentorship each week. There is also a live chat room during market hours where you literally see a live stream of the leaders' screens so you can see their trades and explanations for them. Bear Bull has a one-week trial for something like $24. I can only speak about Bear Bull because it's the only paid group I have experience with. I can only speak for the course I took but yes, there are important pieces they don't mention in their videos and I don't blame them because they business people. Most of what you see in their videos is teaser material. The advantage I got from a course is you get everything you need to know from start to finish. As an example: I know that there are videos that teach about pre-market gaps, but you won't find the rules and patterns to look for when to trade them. I can take a loss in a trade and realize my mistakes. 90% of them were me taking a trade I shouldn't have taken. Exactly! I am developing into a pivot trader, but like being in th chat and also hearing what other kinds of traders are doing. If they are looking at the same trade I am from a different perspective, it gives me a bit more confidence. BTW I read the Pivot Boss book on Thor's recommendation. Totally worth it. Stocks only I'm not sure; I am grandfathered in from when the membership options were different. I'm talking about their webinars. Since someone accused me of spamming, I'll say that you can also learn most of this from books. I read 3 that Thor from Bear Bull recommends: Volume Profile (or something like that) by Anna Coulling, Markets in Profile by Dalton, and Pivot Boss by Ochoa. This is all geared towards a pivot-based style of trading, plus volume profile analysis. Pretty sure it is combined. The account cannot fall below the 25k margin. A combination is ok but the value must be 25k. It's best to keep 25k cash and the rest can be stocks. Pretty sure it doesnt work with two brokers. I believe you can combine the total of two accounts with the same broker but I dont know why anyone would want to do that. What? OP mentioned several groups and I'm talking about my personal experience with one of them. I have no financial interest in it. I am just another member. I pay them. Touchy, touchy. So aggressive. Yeah I know. Just wanted to leave my comment. Thanks anyways! My wife hates me for this Does ameritrade automatically sell your day trade margin at the end of the day or could I let it ride a few days if I'm down? Yes, I do. In the end, everyone has to find their own place in the market and that search usually begins with focusing on a select few setups instead of trading everything that’s being taught in a course. Personally, I prefer trading dips over breakouts. [removed] Y’all are such sheep. Keep thinking that way and miss out on the greatest transfer of wealth in history. Man I say this and every time I think it’s over it bounces big... it has to be over soon though DFV exercises. I’m still skeptical the feb spike was covering shorts. And by the way anyone that hasnt followed the trades missed out..sorry if that was you as well.. But if you are in the green and making profits keep it up, no hate here buddy I'd it doesn't help or work for you that is fine.. However it may help others.. I have no problem with an opposing opinion never do.. However my stuff is real content from a day trader.. If anything skip my posts or comments it's no harm no foul However I have insights from a real successful trader..as said no problem if people skip over it...maybe it doesn't work for you..but it will work for someone else... especially newbies that need something real..not pump and dumps Breakouts is good opportunity to go short - 7/10 fail Of course he does he’s taking your money. His program is 3k or so to teach you what? How to setup a scanner and watch gappers for candlestick pullbacks? I've taken both courses and my husband is taking the starter now. It may not be that he teaches things others don't, but as people with other jobs/kids/stuff to do I can say that the course taught me his system of day trading, how to manage risk, and use the simulator in a logical and organized fashion. He does tend to digress and run on at times, but I didn't have to waste hours searching the net for free information that overlaps with other stuff I already know. Also, I use the scanners and the chat room every morning to find out what everyone else is looking at and I get a lot of ideas from there. I will also say that he doesn't just teach his system. There are courses on small-cap, large-cap, options, etc. and many or maybe most of his students develop their own system (I know I did), so the course gives a great foundation or jumping-off point so you can develop your own system in the simulator and have it ready when you start trading with real money. It's not $6K per year. It's listed at $6K for the year, but he's had 40% off for months now. So a lot less than $6K. Or, you can do the 90-day access for like $4K, take 40% off that, and then upgrade to the year pro-rated, and discounted, after the initial 90-days. Subsequent years are cheaper, I want to say \~$900.00, but don't quote me on that. This way you continue to have access to the chat, scanner, and whatever else he offers. [removed] Agreed I’m in the chatroom as well. He takes a lot of flack on reddit for some reason. He’s very informative and the chatroom users post good content. He is expensive and does over advertise tho So you paid for his course and disagree. I haven't paid for his course/chat so I wouldn't know, I just recall seeing some youtubes about it. Lol you can heavily manipulate micro cap low float stocks... check out every penny stock for an example. Yeah, go look at low float stock pumping and tell me that again. If you want a good chat room with real traders, check out the wallstreet bets discord. I haven't been there in a while but specifically, the algo traders are legit and you can have good discussions with them. These furus are useless except, as you say, to build a community around. And you would hate his course then. Liking your instructor is a huge important factor. That's why I keep telling people to use their own research. Cool. How are you getting on with your trading? DM if you are willing to link and share experiences. I'm successful in a way that I'm not losing money but I'm not ready to leave my job. I'm taking full advantage of being able to build up my trading account. If I type it correctly, it will get blocked. 1000% was the best thing I ever did for my trading (been trading for a few years). Going back to basics and getting disciplined was what I needed, and a solid risk assessment of my strategies. I'm spending 2 more weeks in sim before going back to my real account I watch their morning pre market prep show and I also read two of Andrew’s day trading books. My concern would be if the paid course is a lot of rehashing the same kind of stuff but maybe the trial week might be a good idea. Thanks for the insight. Glad to hear, I have it on order to be here by Monday. Snagged the other 2 he recommended as well, Anna Couling and James F Dalton. It's a good habit, if you day trade, to have an account that you do not hold stocks in. Anything in my day trading account is closed out before the end of the day. I have a separate account for swing trades, mutual funds, and other long-term retirement type investments. Lol. Jesus. U must be new at this? How many posts do you need to make to get the discount? Smh like who tries to defend getting caught doing tht shit? Your just supposed to disappear. Win some/lose some. Not creepily try to defend it. There’s no defense obvi- u do it hoping no one notices. They notice u just fade away. Yikes Please tell me you're at least on the road to recovery from it? You can let it ride out as longest you don't have margin call. So say you have 100k in margin available use 50% of it that way if your holding for weeks and stock drops you won't get a call otherwise, you may. They will not sell anything until you get a call Please don't trade penny stocks on margin it's a quickest way to hell.. Good to hear that. Thanks! 50/200ema you talking on 5min or what? I want to add: my biggest issue is saying it’ll come back up... it never fucking comes back up so I lose 74% instead of 10% and of course by then it goes back up and I’m sitting there ready to flip some shit even though I know it won’t save my lost premiums. Trading has taught me I’m an emotional little bitch. Just got through watching several of Humble Trade’s videos and have found them very helpful. If I succeed at this I’m going to donate to her so that she keeps pumping out the content. Your money to institutional investors you mean? Done that, I like keeping mine. He exercised and bought 50k more. That guy isn’t selling any time soon This is a HUGE RED FLAG!! I am going to copy and paste what was just said: ""***And by the way anyone that hasnt followed the trades missed out..sorry if that was you as well.. But if you are in the green and making profits keep it up, no hate here buddy***"" Someone telling you to FOLLOW THEIR TRADES and IF YOU DON'T FOLLOW THEM, you are missing out?!?! To anyone reading this - especially if you are new to trading, that is DANGEROUS. BUYER BEWARE! Let me explain WHY: In your journey to becoming a trader, you will develop your own style of trading that works best for YOU. Pumping money into someone else's stock ideas may not benefit YOU. Maybe it will but are you willing to bet YOUR MONEY on someone else? [removed] But the other 3/10 will run up like crazy in a very short amount of time. If you manage your risk properly you can make very quick profits. Thank you for taking the time. Have you made any money to recover the 3500 which u paid ? Thanks again. My course was $2,500, but it ends up being free as my broker (litespeed) gives me 100% credit back towards commissions. So money well spent in my opinion! You lost me too much info for my little phat brain [removed] I took his course in 2019 but couldnt get the success. Accuracy on the lower time frames sucked. What was your showed down strategy if you dont mind sharing? Can dm me if you prefer Well the fact that people think that it depends on people following him don't realize that he literally every few minutes and in the disclaimer is constantly telling people to NOT follow him. This is drilled and repeated constantly, so anybody saying that stuff obviously is just repeating misinformation. I really hate the internet sometimes Probably because he is successful one way or another, and a ""public persona"" for lack of a better way to say it. Yeah I think there's a lot of disinformation out there. Just for my personal experience, it is literally the exact opposite of this. Constantly reiterates not to follow him, trade in a simulator for maybe up to a year before you even trade with real money to prove that you are profitable. The dude honestly seems very passionate about helping people IMO [removed] even more proof that you know nothing 😂 hilarious Sometimes you have to spell it out for them 🤭 Thats great to hear. I’ve been trading in the sim while in the class. Just to get used to it. About half way through the pro course and I still really suck in the sim. Still feel like I’m guessing a lot. Hopefully that will change. I’ve heard a lot of people say that one day after months of doing it just clicks. That is interesting. I swing ad day trade with the same account and have long term stocks in a ROTH. Why do you say keep a separate account for day trade? Trying my best again, but I’m far from recovering. And I’m broke XD. Plus if I’m not above 25k in my margin account it’s almost impossible to recover. Hopefully I can get back up and strong. So I can get out of poverty and get my family a new place to live in and a better neighborhood (I live in the ghetto). Before I went broke I cashed out some money and bought myself some goodies. Patience is key, and I hope to hit it big and retire soon (I’m 22). Thank you! I've been day trading WMT think that's a safe bet 1 or 5 min...need to look at both Or me? He never has to he’s already made millions. I'm only a part of 5 forums at the moment so I do t read alot of posts.. When I read something that is for beginners or something where someone needs help or advice I chime in.. I have completed what I came to on reddit and I post very rarely on other forums aside from my own..I am doing it for free so it isn't self serving...it would be self serving if I am going to be compensated. Good luck to everyone...I won't continue a back and forth here..this is coming from a truly successful trader trading since 15 years of age and over 25 years Right, you can play it both ways successfully as long as you have your risk down. I occasionally catch a run up. It is the msot nervous I get when I trade. I usually go in to scalp and then it starts. Yes, I have recovered my money and that’s why my husband is taking it. Yes, I want to second that, all of our courses are paid for by lightspeed rebates. I tried to pm you but couldn’t find the option - can you try to send me a pm instead? Get out of here lol every twitter pumper is like notfinancial advice guys SNDL WINKWINK Probably bc almost all of these “traders” are scammers and actually awful traders. Tim is a great example since he has made <10mm over several years and somehow claims he is this guru god. All of these guys are not very impressive and are largely unsuccessful. If they were good traders they’d work on WS for a few years and retire So a guy who worries about losing 450 is going to talk about the market to someone making 30K a month. Nice. Bro I was jk, .i get his point He’s jokin I’m surr Nothing saying you can't. I don't do it though but that's just me. This article might be helpful: [https://www.thebalance.com/overnight-day-trading-position-4122476](https://www.thebalance.com/overnight-day-trading-position-4122476) I have a reason behind my comment but all you are doing is defending your right to bomb others followed by bragging? That's the self serving I'm taking about. All I'm trying to say is learn a little tact. Buy breakouts with good bases (long and tight consolidations) breaking out on high volume (usually 2-3x the previous bars) with no overhead supply with a tight stop. If you look for setups satisfying ALL the above criteria the breakouts tend to be really strong with a lot of momentum and you can make a very good profit in a very short amount of time usually less than 2-3 mins. The great thing about breakout trading is you have loads of liquidity, so your fills will have minimal slippage at a great price. Haters gonna to hate, jealousy is a biatch I agree most are pump/ dump and fake, but not all. Some people are passionate about it and actually want to help people and create community, it's not just all about money. Money can't buy you fulfillment and happiness (I tried ;) Uh some people have goals and ambitions beyond just making bank to retire and sit in their mansions jerking off to Aretha Franklin album covers and feeding on an endless supply of Little Debbie snack cakes. So I’m told. Oh lol. Damn, guess I needed a /s I'm not going back and forth with you anymore sir If you don't like me that is fine I am not here to gain your likes Read my comment again I said for tips or ideas check this out Have you seen the content or you are naive and assume like most of redditors that have done a disservice to their members by assuming I do not have good content..I simply said have a look for ideas..and anyone that does look will see why Have a wonderful night...just block my account if I bother you no harm done... Any recommendations to create a scanner to catch those details? Ya I’m not sure you got my point or are old enough to have had a job if you’re saying that It doesn’t matter if you’re just trying to help people. Self-promoting your own content is generally frowned upon across all of Reddit unless it’s specifically identified as a thread for that purpose. Nobody likes people that constantly spam their own content. I don't dislike you. I don't know you but I also do not disrespect you. We're arguing and that's ok. Just know - you could have even asked if I would look at your content before self promoting it. It possibly could have even made placement in the main post as an edit. I won't block you. I have no reason to. People are allowed to disagree. I personally take 3-4 stocks that are moving during the day with a lot of liquidity and just watch them all day long to setup properly. But you can create a scanner that filters from a bunch of stocks but still you will have to analyze the charts though. Wait, is that an insult? A lotta youngsters out there making Aretha Franklin references nowadays? 🤣 My point, since it seems to have escaped you, is that your last sentence about day traders working on WS and then retiring is a ridiculous generalization. Some folks would be bored by retirement. Maybe they want to build a business or an empire. Maybe they like teaching. I have no doubt most youtube traders are garbage but your “if they were good traders...” remark is a regurgitated over-generalization that can be easily dismissed due to exceptions. FWIW, I enjoy my career outside of trading, been working >20yr, I make an income that I shouldn’t, and I only trade casually to give back to the wealthy. <- That last part was a joke, see? Awesome, thanks." So far so good!,2225,https://www.reddit.com/gallery/nviv7t,"Great job! You went out and got hammered the night of the 26th, didn’t you. Nice. $400 a day profit is $100,000 a year What kind stocks do u trade This is not good. It's freaking awesome this maybe a dumb question but what is that calendar APP? Very nice! Wish you more green than red squares all the way to Lambo! 🤪 [deleted] What’s your avg position size? Do you always trade 10 minute chart? How much do you put down per trade ? Just an FYI, you jinxed it. If playing sports growing up has taught me anything, you never acknowledge your potential success. Only when the tendies are safely in your bank account do you dare tell anyone of their existence. Can I ask what calendar app you're using to record your earnings? how long have you been trading in general to be at this point? Good job Melissa The other day I was up $400,000! I guy could get spoiled. Today just $20.80 bringing back to reality. 😂 Edit: I didn’t lose it. Money in the account and more to trade with. You are doing great. Congrats. How much $ you put it on the average? Thoroughly jealous What app or program is this? Looks so clean and organized What did you trade? How do I get this PnL calendar to keep track ? Any tracking tips for a newbie ? I loathe excel Fantastic start! I've been slowly working my way from swing trading to day trading and so far I've had good success, though not as good as you. I read that you take very small losses (I assume you use a very tight SL). Do you have a strategy for setting your SLs? I've been experimenting with TSL, swing lows, % of position, etc. but the one I am using more and more and I think you allude to it as well, is basically setting my SL at almost exactly where I enter. The theory is: if it goes against me I'm out and on to the next one. Of course, sometimes the play moves back in your favor and you might miss out. Again, fantastic start and thanks for providing insight into your methodology. How much are you playing with? Im playing with $3k at the moment I know you've mentioned being a price action scalper. Any specific resources/programs you used to learn patterns, ta, etc.? Where do you get that calendar from? Edit: Nevermind Read the post and found it. 🙄 This is very nice to see. I, as a newbie have some questions though. Since you're making around 350$ a day, how much do you put in when you're buying the stock? Willing to take the step and start trading as well but I'm on a limited budget and am just curious how much you should put in to receive 350 ish bucks a day. What amount of capital is being used per day What’s your strategy? Looks good. Congrats on being green, never stop celebrating being green, but I will criticize you on over-trading some days! What platform??? Awesome. Congrats! What app is this? What app or program is this? Another question, do some of these days have negative profit until you trade a few more times to flip it? Of course this just shows that you are profitable on these days, but doesn’t tell us the work it took to make it happen. [removed] What app is that Hi, noob here, I didn’t even know you could trade that many times a day… do you need a certain amount of money in your account to do that? Beautiful results! Too many trades for my liking but your strategy is working. Keep going my man! In summary, what strategy do you follow? Specific stocks that you’re comfortable? Teach me oh master...super nice gains! How much you trade with? CApital What’s the setup u look for to go in on something ??? What is the account size? Was in 12:00 on that dip Do you use a scanner or just watch your watchlist? Thank you! I know this is going to be downvoted, but which app do u use to track ur profits and losses? I have to know what program this is to log trading days I need to find a good one Awesome results! Hope you continue to have great success trading! Damn any tips for an aspiring day trader? I would love to have an income like this Sorry for this extremely newb question, but what platform is this or is this an app for a P/L calendar? hello, is this verifiable in any way? Does everyone here day trade using options or is there a diff method that i dont know about? Beast dude . Respect What calendar are you using? Do you close your trades every day or do you keep overnight balances? If the latter, where to you attribute the profit? Opening or closing day? Great job! Are you mostly intraday day trade or do you also swing trade and hold overnight? What calendar is this btw? It's it Google calender? what do you use to track this? Hey, can you please share what you use for logging your trade info? I like this visual. Throw in a few more stats and I would like this as my screensaver... on green months. Wow this is excellent. Would you tell me how you learned to day trade like this. I would love to learn since I am a noob. Also how much money do you use to day trade with. And how many percent do you gain per trade in average? Well done. That's really a great job. Would you mind sharing us a template for that calendar if any? What tool did you use to track trades in this calendar format? 20-30k position size for such a small profit? Breaking down those trades they look like they’re averaging $100-150 dollars per trade. That’s a lot of risk for a small reward. Great job! Keep it up. Wish I could make that consistently. I would quit my day job lol What’s that app? I read that you go with 20k-30k per play. Do you do multiple plays at a time? How big is your account? Looking good. How much are you trading with? Any advice on strategies? Any tips on gaining knowledge on identifying the right stock which is setup to trade? How do I get ki DD skill up? Two days back I sold cold for $9 now it’s up to $19 lol Amc ape here checking in [deleted] Great job. I wish I can do something like this. What is this calendar I wanna be this organized 😭 [removed] What app is this I see from other comments you're using trend line breakouts as your main signal. Do you ever short the breakout of an ascending trend line, or is this just going long? Eta: Can you explain your exit strategy? Sick man! Time to retire. How do u get this calendar Be proud of this! I'm still working on mine. Congrats! How do you determine your stop loss? Do you do percentage or just dollar amount? How do you handle your losses emotionally? How long have you been trading ? Yea bro, simulations don’t count How cool you are organizing it all? What program do you use? Very nice man, you're at my goal right now hahaha I'm making like $100-250 a day when at work and actively trading. I want to be at $500 a day. Then at 10k a week lol. Out of curiosity how much money are you working with to accomplish these returns? Trying to gauge when I can begin this. Also is this all stocks or crypto too? Are you trading stocks or options? How do u find which stocks to trade on daily bases The IRS does not consider entities like LLC and Corporations trading as a business. It’s all passive income and taxed as such. No reductions for expenses. OP is smart to look at a budget of 30% for tax on passive income. The business would have to be set up to have another purpose such as social media production or similar purpose. This may be one contributing factor to why there are hundreds of YouTube and Twitter stream traders I always drink if i lose or win.. so haha Yeah but minus 30% taxes… i need to be at 1k per day to be able to take the risk and quit my day job i recommend thinking in terms of “weekly averages” and overall p&L trend direction. we are always one trade away that we took too many shares without risk control and we are gone forever! I kind of grabbed 1 from each sector, have lots of tech and just watch for any setups. This is my watchlist i go through daily to find something i like https://imgur.com/a/Bnh0kgJ Trader vue TraderVue Shitt!! Haha Or maybe OP will bring good luck to Barca. Both are doing pretty good buisness right now... 20-30k per play. I scalp a lot. So how i do it is, for example, if i play tsla, this was a setup i played yesterday. I take the position when it breaks my trend line, as soon as im in, i risk $100 bucks so my stop loss goes in right away. If the play starts working i move my stops up and up and up. Until im green and try to let them run. https://imgur.com/a/TBnnfzB No, at 8:30 i use the 3 minute one. After 9:30 I switch to the 10 min to look for setups. 20-30k. I have margin. So a few points is enough I agree prob why i sell contracts so early Trader vue Took me 2 years. What!!?? How the hell did you lose 400k?? 20-30k per play. But i keep my losses small. Trader vue I pay trader vue to upload all my trades Depends on the stock, like if i play tsla, i give it $100 dollars, if i play something that doesn’t move that much, $20-30 bucks. I have 50k of a specific stock. Just sitting there. So td ameritrade gives me 160k to day trade Nop, just have to watch charts, daily, weekly, hourly, 10 minute etc and tried to recognize these setups, so when they come, you will know.. oh shit.. that the setup i saw, I should get in. https://imgur.com/a/XcTbMs9 I play 20-30k per play. Sometimes 60k depends on my mood lol It depends how much i trade, i think one day I bought and sold a million dollar worth of tsla trying to scalp it.. didn’t work out that great I look for specific setups, this is the one i look for a lot. https://imgur.com/a/s4aQVfI Edit: now, the big money is made in the morning, i look for same type of setups and draw them at night and have alerts setup. For example SE. i did my drawings, had an alert if it broke that trend line, i was getting in https://imgur.com/a/JTXvkpo I scalp a lot… i see green i take my money. Have super short stop loss. If the play doesn’t work i get out and look for something else. Think or swim Trader vue Trader vue I do have losses, not every single trade is a win Here is todays trades https://imgur.com/a/2OI1qu7 If you have a plan… and have discipline yes. 😊 Trader vue Yes, 25k to trade what ever you want, normally the broker will give you 3 times the amount to day trade, i have 50-60k in. Equity stock so they give me $160k to day trade I posted the setup that i normally look for, somewhere in here there are a few examples. I trade whatever has a setup i like. Red/green, vwap bounce, pivot bounce, break outs etc Lol! Its all about watching charts, drawing and keeping up with the market I have 160k day trade power. The downtrend breakout. Posted a few examples around here I have 160k to play around with. Margin pretty much. I own 50k of stock and td ameritrade gives me 160k to day trade Nop… see how this trendline broke and then the setup failed and then it fucking from 22 to 23.. those are the setups i look for and thats why you have yo wait for confirmation, the first green candle broke out and then failed, shook off the weak hands and the it pushed https://imgur.com/a/3hbrcdD So… lets say you recognize now the setup.. you are waiting for it.. you see it, you take it and then what? Everything is about levels.. so if you took this trade when ir broke out.. by now, you already know that the setup is forming, so you start doing your drawing, if it breaks our, where will it go to… you start drawing… see how it hit high of day.. well that would be your limit sell.. Watchlist and paid service for any news things like that Trader vue.. you are like the 20th person to ask so.. no worries Trader vue Thanks!! You have to study, watch videos, draw on the charts. Plenty of things out there to learn on the internet It’s trader vue What do you mean? Same setups. Just take smaller risks Trader vue Nop swings. Just day trde No swings for me Trader vue Trader vue Trader vue Just practice i guess.. lots of resources out there to learn technical analysis It’s trader vue Trader vue Yes it is but market is kind of crappy, every time i want to let it run to a level, kicks back and i get stopped out, for now, this works for me, in the future i can let them run into specific targets Trader vue Try to focus on 1 trade at a time. My day trade power in 164k I have 160k to day trade Here are the setups you can look for https://imgur.com/a/q2ZgfW2 I don’t do any DD on stocks, i play pure action price momentum. I draw and look for strong stocks out of my watchlist and trade them. If you made money, don’t get mad, because next time, you will be like “ im holding” and it goes to the shitter. Amc and gme have been nice to me this year lol https://imgur.com/a/mjNGnY1 BA is a bitch!! I just look for setups, i posted a few examples in some comments You can, just need to put time behind it Trader vue Trader vue Trader vue Only going long for now.. exit strategy if the setup didn’t work i get out and wait for it again. I have super tight SL.. not giving money back Trader vue I go for dollar amount right now and like if im buying s stock because i want it to bounce it from vwap, i put my SL below vwap. You move on and thats why i use SL so I don’t get screwed bad 2 years You know i never paper traded, i think it’s worthless because there is no emotions involved and you cam leave things to run and you think you are prepared and then you go in and the market will fuck you side ways! Lol Its trader vue Yeah the 10 k a week is nice but i think we need to build up to it.. I can’t imagine buying 1000 shares of tsla and see my account go down 1k per point.. not there yet.. one day i can stomach that .. but not right now Only stocks no crypto So i have 50k in stocks and td ameritrade gives me 160k to day trde with Stocks and sometimes options, like I can’t short tsla, i have to buy puts.. so today i took on the way up stocks and then when the market pulled, i got in some puts after it broke vwap https://imgur.com/a/1lKNivK Dad? What app is this? I need this visual representation. I totally understand Fair point. I day trade while I’m at work. Multiple tabs on my computer open at once. Yeah but can’t that be brought down lower with write offs? As a trading working from home there’s a ton of expenses. Set up a corp. How do you day trade while working full time? If everyone wasn’t working from home right now, would you have been able to do the same? Actually it's 20% capital gains then income tax.. so.youre looking st nearly 50% tax on day trading. Is that the Tax in USA applied to trading? isn’t the same of normal day job? Any suggestions on what to read to learn strategies What hours do you work if you haven’t quit yet? I assume you’re actively trading. My current job has me working from 8-4, so I need to change my strategy. Speaking of day job, what do you do that allows you to trade so actively? But of course you could get a little creative with tax write offs Correct me if my math is wrong 1k/day ~= 253k/year - 30%tax = 177.1k/ year, so you need 177k to quit 75k day job? How many stocks do you trade a day? I see you are up to 20 trades one day, but it could still be only 1 stock. What do you do when you go through your watchlist? I read about alot of things to do from diffrent posts, but I guess every persons way is diffrent. Some stuff I learned is watch indicators. MACD and RSI, I also got OBV turned on, but dont really know how to read. I havent done much trading, but I've been observing movement of the price and indicators alot, and I feel confident. Which plate form do you find best works for you? What kind of setups do you usually look for and play? [deleted] Do you do trailing stop loss or a limit stop loss? I just started doing almost the same thing after getting completely routed when a stock took a nose dive and I didn't have a stop loss. This week I created a bot that moves the stop loss up automatically as the stock rises. So far it's working really well. I've tried lots of strategies, so far this seems like the most consistently successful. No options? Nice bull flag, learn patterns people. Wait, 100$ risk with a position size of 30k? i guess you are on a 6x leverage account? also what execution platform and broker are you using? So you “scalp” switching between the 3 and 10 min charts? Never 1 min? How long would you say you’re in and out of positions? And would you mind sharing what brokerage you use and if you like it? What do you mean by a few points is enough ? As in a few dollar up is enough ? Do you set a stop loss ? A few points is quite a bit? I thought you said you scalp? Thank you. 😊 Thank you for the answer Asking for a friend. What is a good cash out, like transfer to the bank, strategy? If it becomes your full time gig, you have to structure how you pay yourself, don’t you? I feel like I would just want to keep growing it in the market. great play.... Keep up with good work. On Tesla for example, would you go as tight as $100 of total loss based in your position or as loose as $100 move in the underlying? So what you’re telling me is td ameritrade gives you 160k to DT and you’re pulling these kind of numbers in? Wish i had 160k id be pulling 10k+ a day Ty Do you use level 2 and the tape at all? If you do, how are you using them? Damn... ok. That's like 30x my budget so i have to do some saving first. But thanks for the answer Edit: I did some math and if I put in all my money that I allow myself to trade and have same success rate as you, I'll be making 14 bucks a day 🙃 How do you set alerts at trend line level? If it is a sloping level, there is no price level to watch for. And I thought TOS only lets you set alerts at fixed price levels ? Is that a bull flag breakout? No clue here I'm brand new. The first image that is. [deleted] If it works, continue until it doesn’t. That pretty much summarizes all the Bs people tend to say. Is this on the app? Thanks <3 nice gains btw! I think this was the most asked question lol.. Great job, by the way. Very impressive, good for you! Thanks for the quick reply! I’ll have to check it out! Huh. Very good to know! Thank you! I’m assuming ameritrade ups ur day trading abilities as you make more income? And, also how many times r u able to buy and sell a stock, I read 4 times but idk how long the period is tho? Searched couldn’t find on here.. u have link .. just getting back in the waters an like what ya doing wouldn’t mind seeing if could be useful in my approach What kind of money do you put down on the day? I know it didn’t take 160k to make a few hundred a day. Right? I was thinking that one was confirmation … damm should’ve went with second one as the first one …..making more sense … I’ll watch tommo an see if goes into play like that.. an review the line charts to get better at seeing them .. hopefully u on tommo .. an have a great day !!!! ;) What service? Thank you kind sir Is it linked with your platform or separate? Thank you for the response! Thanks! This is how you claim it is going, is there any way to prove that it is actually going this way or do we just have to believe it (much like the nearly 2k people who gave you upvotes). Im not saying you are lying, but the probabilities suggest you are. So its the same as forex but for stocks? Sorry im confused on how daytrading stocks works How do you go long or short which products do you use? Thank you Thank you! Thanks! I just read that you put in 20-30k per play, that’s insane. Would you say day trading is for people like you with more money available? I’m currently invested for £2,300 in crypto and stocks, making a profit of around 400 (cryptos went down :/), and wanted to scalp/day trade, but from the sounds of it I won’t be making anywhere near substantial amounts. Nice! Thanks for that! :) I see. No TP/limit sells, only moving SL? Thanks. I read that you risk about $100. That's really tight if your position is $20K or $30K per play? Blessed bro! If these are truly your gains keep it up! I’m glad it’s working out!!! :) I’m in Schwab and I’m not sure how to switch. Is there website do I can learn more about the features? Hijo Tradervue, it’s free as well. Fantastic website even with just the free account. +1 Yeah me too, but i make 75k a year plus some good benefits and they won’t fire me.. so to say, i want to quit my job and take the risk to do this, i want 1k per day minimum. Dude... what resources did you use to get where you are now? Or have you pretty much always been into trading? What type of job enable you yo do that? they don’t have a program to check which software you have installed for security reasons? I guess i can but.. for know my mind is that uncle sam is taking my 30% haha Maybe in the future i will.. Nop, i can only do this because im working from home. Shit moves too fast to day trade the way i do from my phone. That’s incorrect Google technical analysis stocks and look for videos online 8-5. But i can work around Im a production scheduler Yeahh i guess… The only indicator i watch is the volume, don’t need anything else. I play whatever stock has a setup that i like. This is what i played today and AI that i lost $60 https://imgur.com/a/YpHMvvr I’ve only used Robinhood and then switched yo thinkorswim Thanks Limit stop loss and a soon as i see green, move it where im not going to lose money. If i get 10 dollars i get 10, if it runs and i make $200 i sell. I see green i take the money. It adds up at the end How is this different from using a trailing stop? My strategy involves using the 34 ema as my SL point and that has been working well for me though it does involve a lot of manual moving of my SL to keep up with it. how on earth do you make a bot for that lol I played around with options for 2 years, i have paper hands for options. Changed to equity and here and there play options I use thinkorswim No, at 8:30, most of my charts are in the 3 minute. Specially the ones im more interested in. After that i keep them in the 10 minute to see if any setup comes up that i like. The staying in the trade it really depends… don’t have an actual plan for it, now, i do have the spy, qqq and /es on a side monitor if those fuckers start going down, i take my money and run.. wait for things to chill out. If everything is pushing. I try to look for my levels.. I normally don’t respect them and take 200-300 dollars and im out. I use thinkorswim Yeah dollars, we call them points. Yes, I always use a stop loss Well yes, if i play tsla, 100 shares 1 point is $100 bucks, it moves fast and i take profits I took out $2100 last week so.. im in margin and im in “paying my bills to do this as my job” mode. Just need to pay a few things and maybe ready to quite the job. But need to be like this for 3-4 month’s Total position… as soon as i enter, i setup the SL, for me, if the trade doesn’t work almost right away, it will not work at all. So not going to give $250 back to wait if it worked or not. Everyone saids this, “ if i had” “ “day traders dream” etc… I don’t play $160k in 1 play. You won’t be able to handle the emotions of being down 3-4k in 20 seconds. You freak out and sell! You are trying to minimize you loses … one wrong move and you are down thousands! And then the whole, i need to get the money back kicks in and you get into a bigger whole.. trust me, with these kind of money comes big, real big discipline. I tried but it doesn’t really give me much advantage so I ignore it. It ads up! At the end Thats the setup i look for, You right click on the trend line and choose alert above. Yes, so study technical analysis. There is a bunch of things out there to read. Watch some videos on how to draw your supports and resistance, then just watch and adjust your drawing skills I get in most of the times as soon as it breaks out. I don’t hace a r/r just of how the market is right now. So i see $100-200 and i take it No, i use my computer to day trade, can’t do this on the phone, i have my things setup to buy and sell fast! I can take a picture if you want to see how my screens and tos is setuo Yeah i know! Thanks What do you mean by abilities? I can buy and sell what ever times i want during the day. No limits This is a very clean one on tsla i took last weeks https://imgur.com/a/DyLIVlI No, i play 20-30k per play.. a few points up and thats 200-300 bucks Im always here.. hit me if any questions. Separate, you just download the trades and upload them to trader vue I don’t know… I can’t just post my account here for everyone to see..why would someone go to the effort of creating the file to upload and get karma.. waist of time for me i guess Well.. i just have like 12 stocks that im looking at, if i like something or see a good setup up i buy it.. Yeah that’s the issue, so for day trading you need to have 25k in you account and the broker will give you 3x that amount to daytrade during market hours. So you can sell and buy what ever you want. You can still use the same setups for options, cheaper i guess, but i got my ass handed to me on options for almost 2 years so I switched to equity So i set up my SL, then my training tells me to follow my levels, so i set up my limit sell order at a specific level that i think it will hit, normally i end up selling wait before that lol.. marketnis crappy, no follow through on break outs Super tight but i’ve tried to give it room but normally the setups fail fast and then its just waiting and seeing how i give up more money.. so it works until it doesn’t right? Me too hope is not just a face and tomorrow i lose all my money.. lol Trader vue is a page, you download your Trades of the day from schwab and upload them to TV Regresa a casa :( Thank you!! So it's viable to day trade while at work? Any tips on that? How long are you usually in trades and any good entry tips? Looks like some good win % 75k is a good salary, i guess you reached the top and couldn’t increase it anymore? Can’t you take an unpaid vacation? Have you traded in a bear market? Hi try out trade platform from Fidelity “Active pro” on desktops, it’s working for me, also have few different layouts, the one for day trade I’m using the most is the technical trending and easy to trade at list 6 stocks at same time in one screen. I’m my own boss. I own a manufacturing company as well as rental real estate. I have a work computer and a ""me"" computer.. only way to go... You can start an LLC for exclusively trading to get away from a lot of those tax penalties and be able to write off losses if it's obviously your main source of income. The tax brackets don't hit 30% until you're making over $163k. At 100k the bracket is 24%, but you're only paying 24% on $14,500 of that money. Your effective tax rate will be closer to 20%. https://greentradertax.com/store/services/entity-formation-professional-services/ Haha was this like a new thing you were able to start because of the pandemic? I’ve been yoloing options. Man I should’ve been more productive about learning 😫 Correct me then, 5%less? Because i paid nearly 50 on my profits paired with income tax amd state tax, etc This is the way. You waiting for low volume? You must be doing more? Like drawing lines and stuff? What percentage gain do you go for per trade? And how much do you trade with? This is the real truth. I’ve tested stop loss and lost more than I gained. But it’s very true. Take the wind as often as you can and most likely you might gain more than your losses. At least in theory When you move your stops up, how do you do it exactly ? This has always been something I’ve been meaning to figure out. In the strategy I use, I typically use the 34 ema as my stop loss, manually moving the SL to keep up with it. (Obviously, I'm playing stocks that are--preferably consistently--above the 34 ema and upward-trending.) It's been my experience that as tempting as it may be to move the SL to break-even as soon as I see green, doing that usually gets me stopped out soon after and I end up leaving a lot of money on the table while also lowering my win rate. So I'm learning to leave it be and let the runners run, which isn't always easy; I started trading as a momentum scalper and that doesn't exactly teach you patience. But my eagerness to secure any little profits ASAP was killing both my win rate and R:R ratio. Just my personal experience, if what you're doing works, stick with it. It's similar to a trailing stop. I use the bot because it creates and maintains the orders for me. Plus it gives me more control. I'm working on adding logic to analyze recent price movements to set the right percentage so it doesn't exit on small dips, plus if it detects a lack of support it will automatically cancel the stop and sell. The bot does a lot, not just this. The biggest benefit is that it acts in nano seconds while I take time and am not always paying attention. It's just a C# console app that runs on my computer at home. It pulls in market data from polygon.io and uses that data to make decisions about what to do with my positions and submits orders via my broker's API. Right now it only monitors open positions and sells under certain conditions. I'm still working on the logic to allow it to buy stocks. That's probably going to take a lot of time to get right. No sense in messing with your formula if you’re making these kinda gains. Was just curious since I don’t have the kind of bankroll to be betting 20k on a play So leveraged? I'm curious why you don't use the 1 minute chart combined to a 3-10 minute one, I find it really helpful to anticipate trend reversals as some can be super nasty. Is it why you trade only on volume and prefer high volume/cap tickers? Have you tried lower volume tickers with a bit more volatility? With your current cash volume and your discipline, you could scalp more profits. What type of stocks do you say trade ?thanks for taking the time to answer me Right on thanks for taking the time to provide that insight, it’s a strategy I’ve been dabbling with (ATR or just ultra tight to entry). I’ve had some success with it but having some additional info into how someone else is employing it is great. I hear you! Ahh I see. Thanks! And Congratulations on your consistency 👏. How many months did it take you to get to the place you are now ? Anything aside from YouTube or investopedia you recommend? Also good shit Would love that. I use ToS too and always like to see how other people set up their layout. Sure. I was wondering about the calendar. Is that a default screen? I've never seen it. I dont use the platform much, maybe a couple times a week. Im normally swing trading from the app when the opportunity presents itself. Could i get a dm of that pic setup? I’d like to use something like it. How many hours a day do you trade on avg for results like these? Ur day trading amount 160k, Ie the more cash and equities u have the more ability/margin available to trade with. Is it the volume u look for ??.. like what’s the metrics u use to go in.. see volume @ or RI @… appreciate the time an help .. I see it’s the W line pattern ??… do u jump in on second dip on that pattern ?? Does this only work when the direction is going upwards in general? Awesome job and hope u make thousands more on the daily. Is there a reason u play expensive stocks. Your % gain be way more if u strictly traded those under $20 so a dollar or 2 move will net u way more Very nice. Thank you! Also, saw your comment about needing to make 1k per day to quit your job. I’m over here like if I can be consistent and make even 300$ a day I’d quit. Realistically more like 500ish. My day job nets me roughly 170 a day so 500 is a dream Ok so Il take that as a no, classic. Hey, it's clearly working better for you than it is for the people that come in here and say it's 'wrong' and try to say there's only one (or none!) profitable way to trade. Congrats on the success! yup, I'm new to trading so your result is very inspiring. Too many times I watch my setup fails without knowing what to do. A tight s/l would save me in that case. Thank you for sharing. Do you use a scanner to find stocks to trade each day? If so, what are you usually look for? Tu mamá me corrio.. I work from home, but yes you can do it on your phone but you can only focus 1 or 2 stocks at the most I just glue myself to the TD app on my cell all day lol. KVM, then set up your own computer. It depends on the market, like I always have spy, qqq and /es on a screen. If that shit is going down.. take your money and run. You have to look for setups, study technical analysis. > 75k is a good salary You really cannot say that out of context. In SF, $82k is the low level income threshold. Not really, all or nothing lol Is the same, i can short stocks, i actually have the same watchlist but with negatives and its for playing when market is going down https://imgur.com/a/AfAjF85 Do you own a manufacturing company and a rental real estate thanks to day trading ? oh git it 👍🏻 Thanks! I’ll look into that Oh ok.. still need to figure all this out if I decide to quit my job Couldn't all of this be done by yourself? I’ve been trying to so this for 2 years. It takes time. No yolos for me ha No you didn’t. If you got a tax guy he’s stealing your money. You pay your highest tax bracket, for most people it’s probably 22 or 24% for short term capital gains and that’s it. If you make $50k at your job your top bracket is 22% if you make another $10k day trading that 10k will be taxed at 22% There are of course some exceptions like wash sales and certain investments with tax benefits. But the absolute highest bracket is 37% for income over $500k Low volume? Nooo i want volume, lots of it! Everything else its drawing my trend lines, supports, resistance, vwap, pivot and emas. But I don’t use the other ones. What ever i see that i like.. not holding a lot, market is crappy I use tos and in tos there is a thing call active trader. So you put in the order and down below you can put in your stop loss. You can alsonadd the profits so you can see how much you are losing or winning m. Google active trader Never heard about the 34 ema, normally 9,21,50 and 200.. yeah i left money on the table, a lot but i was getting stop out a lot if I didn’t take profits, maybe later when the market is not so choppy and have an actual trend, can let some of the run [deleted] But you look for the same setups and you take the option. The setups take time to come up, so you have enough time to look at the option chain, choose the call/put you want and have it ready for when it breaks out, but you have to respect your stop loss, if the setup failed, get out, wait for it again or wait for confirmation on the 3 minute chart or 1 minute if you really think its going to work out He definitely has a Margin account Yes I like the 3 minutes, better confirmation i guess. No don’t want to mess with los volume stock. Somewhere in here, i posted my entire watchlist that i scan through every night and during trading hours. Don’t focus on ATR, look for volume, for gap ups before market starts, don’t chase the stock, let it come to you and your levels, fomo is bitch! Learn technical analysis and focus on setups you like and work for you 2 years WicksDontLie on Youtube. He does forex but the lessons are just as applicable to stocks. Fantastic work with drawing support & resistance zones and all that kind of stuff. I posted a pic of my setup somewhere in here Oh its trader vue. You pay $30 a month and can upload your trades and spits out the information I put in like an hour in the afternoon to look for setups. In the morning i look for what’s gapping up, i do pay a discord service but don’t follow their plays, i use them more for news, gap ups. Here is my setup https://imgur.com/a/QK9XuuJ Correct! Volume is key.. but with this type of setups, people are looking for the same thing, so as soon as it breaks out, you can go in or wait for confirmation, i will sometimes wait for the second candle on the 3 minutes to be over the break out.. now if its a hot stock thats been strong all day, i get in as soon as it breaks out. W? No man, this is a more like a falling wedge/flag. https://imgur.com/a/XcTbMs9 Nop, but its better if the stock is strong and that setups comes up, works better I like liquidity and i need volume so i can get big moves 🤷🏽 I pay a service that i have been in for 2 years, learned a lot from them also but it’s cheaper to pay them than getting an option flow scanner and for news and its good to have ideas from somewhere else, I don’t take their trades at all, im just there to have a feeling for the market… now there is a free scanner from another service that is free https://youtu.be/pBG-Dl3Q0Bw Sounds like her tbh You made all those trades on 1 or 2 stocks? From your phone?!?!? 🤯 Same No inverse ETFs if things go down? That's really interesting! I have been day trading for a couple of years, but I am always looking to learn more. Do you recommend anyone strategies specifically? Started with manufacturing then got into real estate then trading Yup. You can also build your own house, farm your own food, code your own operating system, and ride your bicycle to get to your vacation destination 1000 miles away. It was closer to mid 30s, but after a bunch of stuff that aren't taxes like health care, other local taxes, all this stuff feels like 40-45. So is a daytrade wash tade 15 or 20?cuz 99%of my trades were the day Thanks, gonna look into some stuff now :) What is pivot What’s your main chart? 5min, 15min, etc.? What’s your top play? Like reversal at key support level, etc? Can you share what specific EMAs you use? I’m familiar with active trader and use it when I trade options, but was just wondering how to set the stops exactly. Seems like every time I set it it automatically sells. Do you right click on the chart and click sell custom with stop? I hate having to put the order in manually in the monitor tab. The first thing is to learn a programming language. Most people recommend python, but I use C# because it's what I know best. Ultimately I don't think the specific language matters much. Every bot is faster than a human. A better route might be to team-up with someone. If you are good at building a successful strategy but not a coder, team up with a coder and share use of the bots/apps. Do you mean have a window open with the trade ready to go? One of my biggest issues is not being able to physically trade fast enough. Oh ok. Thanks. Thanks! Which discord service do you use? What time zone are you in? Thanks for all of this information! Where is the work computer 🖥 .. lol 😆 ? Thank u for responding.im learning so much from u. Are we able to buy the same stock in the same day! Gotcha.. it makes senes .. putting into action is whole other thing.. I’ll b on lookout for that pattern .. MVIS has been in a 2.00 swing 19-21—20-22 currently 21-23. If pattern comes to life within that … is that a play u would make to daytrade … I do hold long on MVIS but the swings have me thinking 🤔 uh oh lol atleast you know that if you dont make it in trading you can put together a few more of these and gain some more traction before selling courses. Its truly baffling how not a single person asking about verified results and yet you got 2k upvotes. Congrats I guess. does this count as a telenovela No, i play what ever i see that has a setup. I posted my entire watchlist in one of these comments. I trade on my computer. I trade on binance on my phone all the time, truly a blessing. Nop, im a price action/momentum trader For bear markets? I love this response too much. May quote it in the future in a similar situation. I genuinely was curious and was not sure bc the process of entity formation isn't obvious to the average person but yeah lol fuck me right? Google is your friend my man! 3 minutes and 10 minutes, downtrend breakout is the setups of all setups..for me.. 9,21,50 and 200 but.. for day trading stick with the 9 ema Right clicking and selecting one of the SELL options is not intuitive and will get u in trouble. You have 2 options: In active trader, u can automatically set a LMT & STP when making a trade by expanding the big color button (Buy MKT, etc) and selecting TRG w/ Bracket under Template. Or you can add a STP or LMT on an existing position by using clicking on the ladder. Above the current price will auto place a LMT, below will be STP. https://tlc.thinkorswim.com/center/howToTos/thinkManual/Trade/Active-Trader Yes, normally you can use the active trader in tos and put in the call/put and you can buy it and sell it from there There is a bunch of services out there, you really have to do your DD On them, there are swing trading, all in trading, zero or hero ones, the ones that will spoon feed you the plays, the ones the teach you… it depends what you want and need. You start following Twitter for trading and you will find the one that you need. Central time On the floor hahaha No it moves to quick for what i play Ok here you go…look at todays intraday.. spot the setup and tell me.. Selling a course? No man i can barely speak english to create a course and i should make more money trading then selling a course. Look here is a pic of what a paper account looks like and then my account with the 160k day trading power https://m.imgur.com/a/i16AzvU My uncle did try to touch me so… You don't ever trade crypto? How much capital are you using? I trade from my phone while at work. Downside is it’s slow. SL and TSL are lifesavers What do you mean by momentum trader? You sexy bitch. Daytrading in general. I’ve watched R. Cameron, but he is borderline infomercial. I’ve read Bear Bull and followed their teachings a bit on candlestick entry/exit strategies, and use Stock Rocks for some scanners. Do you have your scanners built out yourself for gappers? How long are you in usually? 1-10 min or more? Do you trade premarket? noun the central point, pin, or shaft on which a mechanism turns or oscillates. That's what google told me. Instructions unclear not sure how to shaft oscillate a stock ༼ つ ◕_◕ ༽つ Thank you! Yea 20/30k def does that. Lol. I bet it gets scary really quick. But u do amazing tho Nothing came across ?? No link https://imgur.com/a/jCCkTAN Nop Crypto is just a highly manipulated Ponzi scheme with no actual underlying value. You have no control over when Elon Musk decides to fire off a tweet. You can control rush far better by trading options. For instance, you can buy some contacts for $0.10 each that could go to $1 or more with the day and do this with some regularity. You can't do this with crypto in a way that gives you a solid edge. I've day traded straddles on $TSLA (buy one long call and one put at the same strike) for $3k and made $1800 in 30 min when the risk was about $300 if the price didn't move. There's a lot to learn about options, v especially how IV works, but you can reliably make much more than you can with crypto. Td ameritrade gave me $160k to day trade he waits for price action to break upwards or downwards and tries to time the top/bottom of the move. Watch for a Momentus move and ride it. Picture what Morpheus would be seeing on the screen while Neo is surfing, having just seen that a big wave is forming. Now you do that with Level 2's and Time and Sales. You get better at it the more you read it. Oh my lol.. I just created a scan in tos, didn’t work lol.. i have a watch list and just start drawing after the first 40-50 minutes to see what i like. Here is an example of some of the trades i took and ZM that i missed https://imgur.com/a/LjkmyyA The last picture i was waiting to break high of day and didn’t get in, spreads not good to market order You have to google the right things… lol The pivot point itself is simply the average of the intraday high and low, and the closing price from the previous trading day. On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment. That’s why SL has to be in and not let it go bad today i made a few mistakes, was still able to make my $500 but would of made 1k easy.. fuck No, you look at the chart and tell me where is the setup for MVIS. Did you find it? I saw it as soon as i open up the chart It's manipulated and ponzi but ""no underlying value"" is quite a statement. How many crypto whitepapers have you read? How many blockchain protocols have you interacted with? I was just telling one other fella, I'm UK based so it's a ballache to find a good platform to trade the stock market, not unless I want to have my pants pulled down on fees. Crypto you don't have to worry about any of that. Yeah it's mostly ponzi for now, DeFi is changing that. The threat of Elon looms large as always. That's a pain in the arse too. [deleted] everyone’s hating but this is literally facts lol [deleted] Would love to see the $300 straddles you're getting on TSLA lmao Do you trade the whole market open 9:30-16:00? Also, how much time do you spend in your analysis, pre-market & post-market prep? Got it, thanks for explaining that to me :) I'm so negative thinker, if shits going up I make puts hoping there would be sell off and vice versa. I'm terrible at this. Do you have some strategy? So far my gut feeling making me bury in red days Cool thank you. How do you take the average if the current intraday is still occurring? Or do you mean the average of the previous days high and low and the closing price of the previous day? So if today is Wednesday, the calculation for the pivot would be the average of the high and low for tuesdays price action and the closing price of monday? Yea, there r some trades to make money in as long as ur patient. U get in and out quickly. How r u able to trade all day anytime? Would I have to up more capital to do that? I wanna do premarket and after hour trades. Do u look at finviz at night, come up w ur game plan for the am? What price in and out targets etcetc? https://imgur.com/gallery/jKaHOfZ I couldn’t see the bull flag on the 8th, but looks like it may be setting up for another one? Which chart do you use, M10? Are you talking about the volume spike ~14:04 or something else? White papers are just sales pitches. I think ethereum has the best value proposition, but the government can step in at any time and take over crypto with gov coin. If a coin is outlawed, it loses its value. I'm not familiar with fees in the UK, but in the US I use TD Ameritrade for options and they cost $0.65 per contract which is negligible given that I can make a few thousand on a single contract. What bot are you using? I do trade a little crypto for fun, but my main issue is that there really aren't metrics that mean anything other than but low and HODL. I've tried to apply technical analysis but it just doesn't work like it does for stocks. It is fun being able to trade 24/7, but it becomes too addicting and I don't shut off and it becomes stressful. That's why I stopped learning forex. Often big moves happen overnight and I found it to be mentally unhealthy to lay in bed at night watching live markets. So many times I'd be falling asleep and my mind wouldn't stop telling me to check the market. I like stocks because I can ignore pre and post market. The other thing I tried to do was put $100 into each of a basket of really cheap coins, but they're on different exchanges and I just figured it's easier to buy an array of psychedelic pennystocks. People hate the truth. Oh it's definitely speculating. It's just that I can see a stock like WKHS get beat down for losing a contract and buy LEAPs and wait and it's likely to go up. I just feel like I have more control over it. I learned to avoid stocks trading in a range and just jump on stocks that really take a hit and get oversold. I don't think you can tell when a crypto is oversold. The straddle costs $3k. My max loss over 30 min that I'll allow is $300. Learn to read instead of just laughing your ass off. Strategy? Learn charting patterns. Make your own decisions and backtest them before spending money on them. Figure out your risk tolerance and don't make emotional plays It’s actually a script you can add to think or swim and it will show up every day, you can play bounces or use it to sell into Why would you want to do premarket and after market? There is no volume, no stop loss… just first make money trading during the day and then maybee look into trading after hours. After hours doesn’t really work at all.. just look for them during the market hours I agree that regulation is a huge roadblock to adoption. I disagree that govt can ""take over"" any decentralized crypto network. Whitepapers range from PhD-level to MsWord high-school crap. I get what you mean about sales-pitches, but my point is that you can't appreciate a new development without reading the blueprint. Yeah the most accessible one in UK charges £12.50 per trade. It's a kick in the teeth. There's 212 trading but they aren't accepting anymore new sign ups at the moment. No options on etoro. Eh it's late and I skimmed it, I'm glad you mentioned it instead of telling half the story. Plenty of people on reddit acting like the market is free money and leading fresh bagholders to the slaughter Is it possible to do on the mobile app? Only reason would be to get the orders in earlier? It’s def not for the volume. I wanted to see What time is her to get in and get out. But I guess looking at charts will help me do that too. I've read some white papers and I like the possibilities out there, especially with ethereum because of the way contracts work. I think Bitcoin is going to become obsolete. I think it's only value is as the first mover, but it's nothing but a way to burn coal to fluctuate the price. Overall, I do think there's a future in crypto, I'm just smart enough to know I have no idea what'll actually happen. I just have my suspicions. £12.50 per trade? Damn. That's a kick in the teeth AND a punch in the balls. Have you looked into Interactive Brokers in the UK? Their pricing here is good but you just have to pay for data which isn't that much, especially if you trade regularly. No worries. Yeah, there's a lot of garbage on reddit but I still learn a lot by reading and sharing my knowledge so others can pick it apart. Knowledge saves us from losing money, and the fewer of us that lose money, the more money we take from the hedgies lol Yes but you can only focus on 1 stock, 2 at the most!! What do you mean earlier ? Like have the order ready for when the market opens? We have more in common than I thought. I feel the same way about Bitcoin. I can't see the future either but I'm optimistic about the power of smart contracts to change the way legal contracts are written and executed. Yeah bro it's criminal pricing. What's an interactive broker? Not heard of that before. I meant is it possible to add the pivot script to the mobile app Yes. In notice sometimes the prices dip earlier Check out this link https://www.interactivebrokers.co.uk. I checked them out in the US and I'm going to eventually move to them once I want to diversify. It's a more professional trading platform and you can access global markets. I'm curious if their UK pricing is cheaper. As I said, you have to pay for data but it's something like $20/month for the major US indices. Noo its not available for mobile, it sucks That’s the wrong way to look at things, you don’t know where the market is going to go.. you dont want ito chase, don’t get fomo, have a plan, if the stock just pushes let it go, look for a pull back or another setup to get in. Wait 5-10 minutes to get a direction of the market. You legend. I'm gonna check that out and report back. Thanks man! Ok. That’s great advice. I appreciate it. Also you could try TradeZero International. They charge $1 for market orders, and if you use a limit order with 200+ shares the orders are free." Things I've Learned After 15 Years Of Trading,2120,https://www.reddit.com/r/Daytrading/comments/ngcts4/things_ive_learned_after_15_years_of_trading/,"It's ok to be wrong but it's NEVER ok to ""STAY WRONG"". That's going up on my classroom wall. Thank you! best tl;dr in some time Having a plan for each trade, that goes both ways, has helped me improve so much. I wish I had read this when I started. Thanks for sharing. I don’t know/care how long have you been trading, but these are beautiful guidelines. Thank you Huge respect for putting this together, thank you. i've learned i'm bad at gambling. i call it investing but it's gambling and i'm really bad at it. Original blog post from 2011: [Things I learned from 15 years of Trading](http://theimpatienttrader.blogspot.com/2011/10/things-ive-learned-after-15-years-of.html) I feel like I paid a heavy price to learn about 3/4 of these. The other 1/4 have cost me, apparently not enough to retain the lesson. Well written. Those who do this for a living having flashbacks of all the memories each time they learned one of these lessons I read 5-6 points, understood it was gold and saved the post for later. Now I'll go procrastinate ono some youtube videos and come back when I feel guilty of procrastinating. I already pushed the save button before you mentioned it. Great tips. Some questions if it's appropriate: ""Trading triple ETFS will deplete the account over the long term."" Do you mean day trading? And why? I have a long term momentum strategy which holds triple ETF's for an average of 1-3 months and it goes quite well for me. Pls let me know if I'm missing something. ""Good fundamental analysis and proper technical trading is a killer combination. Think CANSLIM / IBD (investors Business Daily)"" Does that mean you'll never short (day trade) a stock that has good fundamentals, even not, if for whatever reason there is a correction taking place? And also the other way around (long on low fundamental stocks). PS Someone else mentioned Seasonax to add to this equation. ""Candle stick patterns don't mean anything WITHOUT follow thru. A Hammer or a DOJI means nothing unless it gets follow thru the next day."" So, you're saying that you always have to wait for confirmation? ""Very hard to short a market when the financial stocks(XLF) are strong."" Financial stocks are strong right now ... So, you're bullish on the general market outlook? Can you explain this statement a bit more pls? ""Never short a market in momentum mode."" You mean in positive momentum, I guess? Sell low and sell lower would you recommend? Truly appreciating the time you already took to share this. Thank you. “Triple ETFS will deplete the account over the long term” How do you feel about day trading leveraged ETFs? Do you think it’s a viable strategy for beginners? Also what’s the maximum amount of days/hours you should hold a position in one? Thanks for the effort! Super helpful on a day like today Thank-you! Best one for me is NO PLAN? NO TRADE! i'm 6 months into trading and i've learnt some from this list the hard way, by paying tuition to the market. i'm definitely gonna keep this list close RemindME! 12 days ‘and keep on reminding me to reread this’ How much do you charge for your private courses, Great. At what point do you consider it, "" too many eyes"" ? So much knowledge, thank you. I don't even understand half of it yet but I hope one day I will. ""You will never buy the exact bottom and you'll never exact sell the exact top: Don't beat yourself up if ""you left money on the table"". ""Most traders are never ""happy"" with their trades. Understand that no trade will ever be ""PERFECT"". Do not try to predict the market, you will always lose. Try to minimize your lost as much as possible. Sell, when you are ahead, do not get greedy. Thank you! I do not understand these 2 points though: 1. Too many bullish setups is NOT always a ""good thing""/ A plethora of bullish setups normally precedes a big down day. Aka: Fuckery. 2. Sentiment is always more negative on bottom retests than in the FIRST low. Watch out above if the retest is successful. For mental stops idk. I’ve had instances where it would get sl raided and shoot back up It would be awesome if brokerage apps allowed a simultaneous stop-loss with limit sell. But no, to do that you need the wannabe Bloomberg terminal trading programs that require a PhD in astrophysics to use. 3 things. I definitely think some studies are very good specifically the alligator. Really teaches you discipline if you enter and exit like it says. Also the trend is your friend... until the end, don’t get frustrated when it doesn’t work out. There is not such thing as over trading. If price action and volume is in your favor, make the trade. Probably took 15 years to type this shit too. Idk if it's in there but another good rule is don't follow Reddit hype. 9/10 times you'll lose big How to know if there're too many eyes on a breakout? Saved! Wow thank you Beautiful and great. Thank you for posting Good stuff here Genuine question. Why do you say trading triple ETFs will deplete the account over the long term? I have had success day trading Tqqq/Sqqq and always closing the position by end of day because of the inherent depreciation. Are you saying the eventually those ETFs end up hurting you? Love this! Good stuff, I need to print this out and staple it to my monitor Gold. Thank you for posting. I thought it sounded like a swing traders perspective haha Thank you. I read it all *AND* saved it for later. Why do stocks drop when market is green but trade side ways or go up when the market is red? Today being a good example, everything traded sideways or up butm market is red “Be aware of stocks that take “too long to go” early indication of demand drying up” I felt that one with pltr. Bravo Brilliant, thank you! Can anyone recommend a good trading chat room? Thank you for sharing this! These are some awesome points! Thanks for imparting your wisdom. Now if only there was an acronym for all of this.... I knew I had read this before after the first few and had to scroll to the bottom to make sure credit was given lol Great advice, thank you! all of this is gold Thanks so much for this post. Just suffered a big loss because i didnt respect my original stop loss then got caught in a losing position that i refused to cut till i was down bad. Respecting the original stop loss is huge to prevent big losses Thanks for this They have a TL;DR: Save for later ​ I did that These are phenomenal, thank you. TLDR: don't fight the trend and bail when you are wrong! Awesome stuff Wow, you have learned a lot. So buy pltr? Gold !remindme 3 months To re-read this and remind myself to re-read it in another 3 months after that This is one of the great post I've seen here. Thank you OP for this By far the most useful and information post from experience in this subreddit for a while! Thank you! Real gems here. Adding to my notes thank you! What are “good bases?” Excellent Great job! A good list, thanks. Some of these will be added to my daily rules read before trading. The warning about staying away from triple etfs doesn’t apply to daytrading (or even a couple weeks hold if momentum is continuing), but absolutely correct, if you’re holding triple etfs through swings waiting for it to “come back” you’re getting eaten by decay. The power of a momentum move. Simply look MOSY yesterday when the entire market was slow as heck, just shot up and kept running up with that momentum and kept going up at a peak of 54% gain in a slow market. Powerful l Thanks for the tips. Took me a while but I eventually got through them. Everything was great except for one tip that stated that it's not about being bullish or bearish but being right. In my opinion I would disagree as being right leads to bagholding as you wait for the trade to go in your favour. I would rephrase the tip to, it's not about bring bearish or bullish, it's about sticking to your plan/rules. Thank you for everything else. Keep it up.👍 Saved. Good shit. Thanks!! Well thought out process for all traders to be aware of. Excellent TL:DR post! Copied the text and paste it in my MUST REMEMBER notes. This is amazeballs. I missed out on AMD today because I was thinking about it too long. Just need to jump in when I find a good setup. The art of... trading. Thank you!! Thanks for sharing Lol of great tips! Thanks just tattoo the above onto my chest Excellent article, thank you for writing this. I have only been trading since August and WAS doing pretty good. Hear recently everything I do seems to be wrong and this really explains it all!! I will reread this a lot. Great advice thank you Wow man, thanks! I appreciate your massive effort to compile and share your hard-earned wisdom. I started reading, scrolled to see how long this was and 😲 Came to the TL;DR and I will be back 😂 Thank you for your wisdom, I’m 17 and love other perspectives and of course your insights. Honestly I wish i had someone like you to be a coach for instance as everything I will and must just search up and learn the hard way. I do have patience What do you mean by the 3rd bullet?? This is a fantastic bit that I wish I’d seen and paid attention to sooner. Thank you! Great post, much appreciated! Thank you so much for sharing! I saved this chat thank you for the helpful information ! Ten Commandments >>> the 108 rules of day trading. You have to at least give your returns over those 15 years before you expect people to follow your hundred rules. Power to the players I love the stock Everything else in the post is spot on! I'm gonna make this a page in my trading plan document, and study it every so often thank you for the tips, greatly appreciated :) A good chunk of these can be summarized in the age old adage: ""The market can stay irrational longer than you can stay solvent."" The market is irrational. If you become irrational, the market will destroy you. Always stay rational. Always have a plan. You will be tempted to break your rules or violate your plan. Don't. Also, my personal first rule of investing is to PRESERVE CAPITAL. In my opinion this should be the first thing you think about when coming up with a plan or strategy. You can always find another opportunity if you miss a winning trade, but you may not be able to find more money if you chase a losing one. Brilliant post thank you RemindMe! 2 days I've read through this a few times and dang, this has been so immensely helpful. Do you have any good tips reading price action ? That one you said about fuckery after a breakout point makes a ton of sense. Numerous times I got shaken out thinking the breakout failed only to have to do so later on. Is this why all the hyper growth penny stocks shot up like crazy in December and then crashed in early February. Lots of good advice here. Learned the hard way. Good stuff really helpful Thank you kind person. Thank you Saved this post, thanks! Day trading Bible for sure ! >**Always be aware when short interest on the NYSE starts to hit record highs. Normally means we are getting close to a major bottom.** ​ are we there yet? where do i find the the overall short interest of the entire exchange? Please put - Traderstewie under it Dude the best one out of all of them. Good stuff man! Went from 500% up since April to back to 100% in a week because I constantly broke this rule and began breaking other rules on this list. FML Great list, great advice! Thank you very much! I'm curious about what you mean by having a plan ""than goes both ways""... Is it than if you get X signal you'll go long with such and such targets, but if you get Y signal you'll go short with some other targets? judging by the length of that list I’d say about 15 years. Flip all your positions. Boom. You’re now good at gambling. Thanks for taking my trading course, that will be $5000 Triple leveraged ETFs are designed to **decay over time** due to being rebalanced daily. **If the SPY went from 400 to 390, and back to 400 the next day, a triple leveraged fund would actually be in the red.** For example (from Investopedia)… *If the S&P 500 moves down 5%, a fund like the SSO should move down 10%. If we assume a share price of $10, the SSO should be down to about $9 after the first day. On the second day, if the S&P 500 moves up 5%, over the two days the S&P 500 return will be -0.25%. An unaware investor would think the SSO should be down 0.5%. The 10% increase on day two will bring shares up from $9.00 to $9.90, and the SSO will, in reality, be down by 1%.* Repeat these price swings enough times and you’ve decayed a significant part of your position. Might as well just hold the underlying ETF or LEAPs with little extrinsic value. Leveraged ETFs should only be day-traded or held for a few days maximum. Curious about the triple etf comment as well. Following. There is a 20 hour delay fetching comments. I will be messaging you in 12 days on [**2021-05-31 18:23:56 UTC**](http://www.wolframalpha.com/input/?i=2021-05-31%2018:23:56%20UTC%20To%20Local%20Time) to remind you of [**this link**](https://www.reddit.com/r/Daytrading/comments/ngcts4/things_ive_learned_after_15_years_of_trading/gyq6efc/?context=3) [**CLICK THIS LINK**](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5Bhttps%3A%2F%2Fwww.reddit.com%2Fr%2FDaytrading%2Fcomments%2Fngcts4%2Fthings_ive_learned_after_15_years_of_trading%2Fgyq6efc%2F%5D%0A%0ARemindMe%21%202021-05-31%2018%3A23%3A56%20UTC) to send a PM to also be reminded and to reduce spam. ^(Parent commenter can ) [^(delete this message to hide from others.)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Delete%20Comment&message=Delete%21%20ngcts4) ***** |[^(Info)](https://www.reddit.com/r/RemindMeBot/comments/e1bko7/remindmebot_info_v21/)|[^(Custom)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5BLink%20or%20message%20inside%20square%20brackets%5D%0A%0ARemindMe%21%20Time%20period%20here)|[^(Your Reminders)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=List%20Of%20Reminders&message=MyReminders%21)|[^(Feedback)](https://www.reddit.com/message/compose/?to=Watchful1&subject=RemindMeBot%20Feedback)| |-|-|-|-| RemindME! 30 days ‘keep rereading and reminding’ I've been beat down on SLs too. However, I think it's more about setting an appropriate one. If your stop is 2%, but the stock is fluctuating multiple % a minute, then you should size down the position to get a larger stop. It might need to be 10% or so to keep you in the cycle. You mean a stop limit order? Any decent broker has those. !remindme 6 months I think he meant having a plan for when the trade goes the way you want it to and having a plan for if the trade goes against you so you have all your bases covered. Enter and exit plan/strategy. How much gains or losses you intend to take before you sell. That's a damn good judgement, son Probably has fine positions, just sucks at risk management Agreed that leveraged ETF's will perform less in a downward or consolidating market. However as we all invest because we believe that stocks have a tendency to go up, it can work to your advantage as well. Guessing he is talking about leveraged ETFs like SPXS, SPXL, TQQQ, SQQQ, etc. They are rebalanced daily and aren't meant to be held long term. Same. I've messed with TQQQ, and when it gaps lower, like it has lately, it sucks, but when it runs higher like it did after the March dip, it was fantastic. There is a 38 hour delay fetching comments. I will be messaging you in 1 month on [**2021-06-30 19:04:31 UTC**](http://www.wolframalpha.com/input/?i=2021-06-30%2019:04:31%20UTC%20To%20Local%20Time) to remind you of [**this link**](https://www.reddit.com/r/Daytrading/comments/ngcts4/things_ive_learned_after_15_years_of_trading/h040445/?context=3) [**CLICK THIS LINK**](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5Bhttps%3A%2F%2Fwww.reddit.com%2Fr%2FDaytrading%2Fcomments%2Fngcts4%2Fthings_ive_learned_after_15_years_of_trading%2Fh040445%2F%5D%0A%0ARemindMe%21%202021-06-30%2019%3A04%3A31%20UTC) to send a PM to also be reminded and to reduce spam. ^(Parent commenter can ) [^(delete this message to hide from others.)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Delete%20Comment&message=Delete%21%20ngcts4) ***** |[^(Info)](https://www.reddit.com/r/RemindMeBot/comments/e1bko7/remindmebot_info_v21/)|[^(Custom)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5BLink%20or%20message%20inside%20square%20brackets%5D%0A%0ARemindMe%21%20Time%20period%20here)|[^(Your Reminders)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=List%20Of%20Reminders&message=MyReminders%21)|[^(Feedback)](https://www.reddit.com/message/compose/?to=Watchful1&subject=RemindMeBot%20Feedback)| |-|-|-|-| RemindME! 45 days ‘do it again’ Half the shares, double the stop. Try it! I will be messaging you in 3 months on [**2021-11-21 14:01:34 UTC**](http://www.wolframalpha.com/input/?i=2021-11-21%2014:01:34%20UTC%20To%20Local%20Time) to remind you of [**this link**](https://www.reddit.com/r/Daytrading/comments/ngcts4/things_ive_learned_after_15_years_of_trading/h9sfst5/?context=3) [**CLICK THIS LINK**](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5Bhttps%3A%2F%2Fwww.reddit.com%2Fr%2FDaytrading%2Fcomments%2Fngcts4%2Fthings_ive_learned_after_15_years_of_trading%2Fh9sfst5%2F%5D%0A%0ARemindMe%21%202021-11-21%2014%3A01%3A34%20UTC) to send a PM to also be reminded and to reduce spam. ^(Parent commenter can ) [^(delete this message to hide from others.)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Delete%20Comment&message=Delete%21%20ngcts4) ***** |[^(Info)](https://www.reddit.com/r/RemindMeBot/comments/e1bko7/remindmebot_info_v21/)|[^(Custom)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5BLink%20or%20message%20inside%20square%20brackets%5D%0A%0ARemindMe%21%20Time%20period%20here)|[^(Your Reminders)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=List%20Of%20Reminders&message=MyReminders%21)|[^(Feedback)](https://www.reddit.com/message/compose/?to=Watchful1&subject=RemindMeBot%20Feedback)| |-|-|-|-| This is exactly it. I am generally an optimist but not omniscient. Thanks dad. Of course, but I would urge anyone to consider individual stocks, LEAPs on SPY/SPX (2-3X the leverage without significant decay), or even Synthetic Longs (Long Call, Short Put) if you’re bullish for the long term. A long-term bet on SPXL (3X leverage) is foolish for the **opportunity cost** and fares very poorly in times of high volatility. For example, SPY took 6 months to recover from the COVID-19 crash, whereas SPXL took 11 months. Both LEAPs and Synthetic strategies would have recovered in 6 months or earlier, while also benefiting from the leverage SPXL provides. By the time SPXL finally recovered, those LEAPs/Synthetic strategies would be extremely green. Leveraged ETFs are really only worth playing in the short term while day trading. Any more than a few days and your money is best spent on other strategies. I will be messaging you in 1 month on [**2021-08-14 19:26:30 UTC**](http://www.wolframalpha.com/input/?i=2021-08-14%2019:26:30%20UTC%20To%20Local%20Time) to remind you of [**this link**](https://www.reddit.com/r/Daytrading/comments/ngcts4/things_ive_learned_after_15_years_of_trading/h3lgfo9/?context=3) [**CLICK THIS LINK**](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5Bhttps%3A%2F%2Fwww.reddit.com%2Fr%2FDaytrading%2Fcomments%2Fngcts4%2Fthings_ive_learned_after_15_years_of_trading%2Fh3lgfo9%2F%5D%0A%0ARemindMe%21%202021-08-14%2019%3A26%3A30%20UTC) to send a PM to also be reminded and to reduce spam. ^(Parent commenter can ) [^(delete this message to hide from others.)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Delete%20Comment&message=Delete%21%20ngcts4) ***** |[^(Info)](https://www.reddit.com/r/RemindMeBot/comments/e1bko7/remindmebot_info_v21/)|[^(Custom)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5BLink%20or%20message%20inside%20square%20brackets%5D%0A%0ARemindMe%21%20Time%20period%20here)|[^(Your Reminders)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=List%20Of%20Reminders&message=MyReminders%21)|[^(Feedback)](https://www.reddit.com/message/compose/?to=Watchful1&subject=RemindMeBot%20Feedback)| |-|-|-|-| Elaborate >LEAPs on SPY Interesting comment. Thank you. I only have basic knowledge about options. And I'd recommend people to stick with leveraged ETF's until they understand the product they are working with correctly. To be further investigated. If you plan on having a stop loss set at -.25 cents for 200 shares. Try -.50 instead at 100 shares Ok I’ll seriously try that tmmrw!" Won big today with EYES all thanks to this sub! THANK YOU!,2117,https://i.redd.it/h5k923ixi9l61.jpg,"Wow I didn’t see anything about EYES. nice catch $3000 in a days work. I'll take that anytime. Congrats. I’ve found the best tool is scouring the threads and comments and making best guesstimate on the data I’m seeing. I’m just happy to have ended the day in the green for the first time This week. May only have been $23 but I’ll take it!! I know everyone shits one RH, but if you're gonna look onto day trading, I really would heavily recommend looking into another brokerage. All the GME bullshit aside, if you're gonna look into doing your own DD etc, there are many better free platforms out there that will surpass end analytics that RH will be able to give you. Honestly wasn’t planning on making many moves today due to the weird market. Took a $700 loss right in the beginning on some GME day trades but was lucky enough to make it back real quick on a quick SPY put. After breaking even I pretty much was gonna shut down trading for the day. I happened to catch a comment on here about EYES and went to take a look. I got in right as it was taking off, my initial buy in was around 4.60. I traded for about 10 minutes and put it down after making a cool $3.3k. Just recently started day trading this week as my account just got bumped over 25k and it has been so exhilarating. Thank you everyone who puts in the hard work and research so idiots like me can make a couple bucks! [deleted] Congrats and Fuck u! 🖕🏻 Huge win!. What’s the portfolio look like? I made about 3500 on EYES too but my trade was not as simple as yours. I caught it kinda late but looked at the overall trend and saw it break and stay above my ema cloud, so figured WTH. First bought 1000 @ 8.35 which was right before the first big dip. I didn’t get a chance to put my SL in and was down 1k before I knew it. So I figure avg down so I buy another 1000 @ 7.56. It ticks up then drops hard again. I try to time the bottom as I’m contemplating taking what Is now a 2500 loss. It his the bottom and I double down again, 2000 @ 6.26. I then watch as I go down by a total of 6200 on 1 trade. I zoom out and think this thing has to come back so I quit paying attention with an alert set at 7 as my basis is now 7.11. It hits, I immediately set my SL to 7.11 as it passes and it never touches it. I eventually raised my SL to 8 and got out there. I got LUCKY. I went from down 6k to making ~3500. I almost puked at one point. Could someone recap why they looked at this and bought previously? Was is the chart or just choosing a solid company that had not moved a lot recently? Wwere there any triggers? Thanks all. Im trying this learning thing. Congrats. I watched it but I was not motivated. It had no options so trying to short it anticipating it will go gone in the future is not an option. Awesome hit guy. Enjoy. I totally missed it, but I’m happy with the gains I had today. That one would of been a huge win for anyone that caught that! I got in EYES at $3. But my pull out game needs work 😢 I guess i Didn’t have the foresight. Saw that stock jumped some 400+% today congrats! Totally unaware of the company's existence prior to seeing the insane ticker today Nice ! I was working and caught it on my break from $2.10 to $4.10. It was a great win. And I’m not bitter it went past $9!! 😄 Damn, in a day of red, you sure killed it. Congrats! Good job dude!! Had a huge swing negative to positive today... didn't make any trades, but my portfolio was looking super sad this morning and nice this afternoon... that is, until you zoom out. I saw it this morning at $3, didn’t pull the trigger Congrats Awesome! I spotted it just before lunch and got in around 4.50 and rode it to the top. Wish we could have one of those every day, I'd quit my job! Well done! I haven’t seen any mention of EYES. Congrats I’m a small investor, so a $200 profit on eyes felt great ! Shamelessly joined this group from this post. Give love spread love. It is spreading everywhere. Make love a pandemic. Really? You didn’t need this group to find it. It’s literally on webull and Robinhood top movers list Shoutout to u/beefytrout for allowing these gains to happen. Blessings and gains on you and your family 🙏🏻🙏🏻🙏🏻 https://www.reddit.com/r/Daytrading/comments/lychc1/morning_update_for_friday_030521/gps6219/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3 Nice! Good job. Dont forget you have to pay capital gains tax on that, so put away 20% to be safe. You spend all of it and you’ll end up with a nice tax bill I’m feb My scanner caught it this morning, and got in at $4. I'm just starting out with a very small cash account. I got stopped out right before it blasted off and couldn't get back in because of T+2. At least I made $0.84.. Nice job!!! You bought high and sold low, didn't you? I made the absolutely stupid mistake of not paying attention to how many day trades I had made and bought EYES knowing how volatile it was and completely expecting to sell it very quickly for a little profit. Well, I was at my trade limit and couldn’t sell it and now I have to hold it over the weekend while it inevitably drops way down from 7.60 where I bought it. Can somebody make me a little better by telling me it still has room to run next week? Or is it done? [deleted] 13% is a BIG win? Congrats bro what's market watch? These pump and dump still surprises me Congrats Delete RH tho #robinhoodislame I made around 2000$ from trip.cn / truff today bought 6000$ at dip and when it consolidated went up to 8000, pretty happy, should be at 12k next month when it goes back to 0.50-0.55 and do penny trading Damn I had it in the screener and forgot it to add it on the watchlist. Shorted it in the afternoon still hold a few... Congrats to the long trader... Trey’s Trades made quick money off this on Friday. It was pretty intense. Check the YouTube video. $APYP🚀🚀 Congrats! That’s awesome!! I stupidly bought EYES at the end of its run today for 12.04 and I’m having major buyers remorse. This wasn’t a stock I was following and I’m scared it’s going to tank tomorrow. What are your thoughts since you’ve obviously been following it for awhile? I just happened to read a comment on the daily thread post about it. Caught it at the perfect time Nice! 💵💵 I saw it but didn't care for it, I'm putting my hopes on Affirm hopefully I made the right decision. Would you say...you weren't using your eyes? (I missed it, too) It showed up on black box stocks pre market this morning I’m hoping to see this run again Monday and Tuesday - a few dollars up is possible considering the float and the news https://www.pixium-vision.com/ and the product https://youtu.be/_K4s6Tvzn-8 Gotta keep your EYES wide open man haha. $23 and one up vote. Profits are profits I hear ya, I wanna switch soon They had the \*courtesy\*, after forcing me to essentially sell large lots of my GME shares at a major discount not a month prior, of subtly accusing me of being a bot or something against their API in an email eod today. I was like: ""what?!"" I haven't heard back after a long and serious message to them explaining how day trading works and how I I shouldn't be flagged as such since I am coming in literally through their iOS app and have ben fudging ome buys/sells here and there today as I got too tired to verify Buy/Sell!. Not to mention I am a PDT, I more than meet their day trading ""account"" rqmts and margin reqmts. But if they lock down my account or buys or anything again I am sending emails, pics, proof, etc. all to the state AG, senators, congressman, Twitter, Reddit, etc. and most definitely filing suit as I'm about to have several hundred long contracts come ITM and I was literally whipped by angry bond chasers for two bleeding red days that saw me sell off almost my entire tech portfolio there to protect those gains from the margin beasts Just broke even today and paid off all margin and with another run up day Monday; well: We'll see how much democratization of finance they have actually done come next week. Only when the houses loses I guess do they start getting rly upset. But you can't let day traders not day trade. It's so stupid if you offer day trading. And on their own ""slots-like"" app where you can quickly gesture an options trade almost. Like, no shit I have dozens of cancelled positions sometimes and quickly switch between a range of bid prices and a range of ask prices to find equilibrium and a good entry and exit for myself. It's hard work! Not just taking users' money and handing it to Citadel and giving the user poor execution and a pitied stare. Just opened webull today for the first time(to transfer out of RH). Is this one better? Ok, but which broker offers the best tradeoffs at the current time? I do like RH's interface (mobile and desktop web app), and they've mostly worked out their growing pains at this point. I trade a mix of options and stock, and am thinking of switching up my strategy to mostly options after this market finds its bottom. Zero commissions is nice. I have some bitcoin and etherium. What I do like is Robinhood gives you a low cost margin of 2.5%, for when I'm not super strong on my option conviction and just want to get some exposure. My biggest complaint of RH is no premarket or after hours options. I guess I'm willing to change out for that. But usually I'm fine walking away at 3:00 pm PST. It's the mornings that have bit me in the ass (if I wake early enough). But I have tradingview for my charts. And third party option flow tools. What free platforms do you like? Congrats on early success, but based on how your brokerage calculates equity, consider being careful until you have some cushion. Example: My brokerage calculates equity based on the previous day's close. I bought 20,000 SCKT at 23.47 for 235K in cash and 235K in margin. Wells Fargo thought my 20,000 shares were ~~were~~ worth* 3.24 each, because that's what they'd closed for the previous day, for a total of 65K, so instead of having 470K in equity, i had 65K in equity and *still owed all that margin*. Because of this, i wound up at -170K in equity, falling below the 25K minimum required to sell the shares at 24.00 not even 30 seconds later. Instead i had to wait until the next day when their equity was calculated based on that day's close of ~18.90 to allow me to sell, and i wound up selling at 15.58 for a total loss of 157,800, leaving me with about 120K total remaining cash. This may affect you if you enter a relatively large position on a stock that has doubled or tripled intraday, which could make your brokerage think you've fallen below 25K Is it worth a long term look or more of a day trade or PnD? I'm looking forward to getting to that point some day! Gotta get past the PDT limit! Nice job! Hahah yea I’m slightly nervous about Monday now 😎 Right now I’m out of all positions and am sitting on all cash. Going to do some research and restructure on Monday. I feel this so hard. Glad you made it out the other end in the green! Just got FDA approval today. As soon as that happened, it just skyrocketed News came out today on FDA approval of one of their treatments. Something about bionic eyes to cure blindness. Congrats. I gazed t but wast not did motivate. T hadst nay options so trying to short t is not an option *** ^(I am a bot and I swapp'd some of thy words with Shakespeare words.) Commands: `!ShakespeareInsult`, `!fordo`, `!optout` On a day like today, any gains make it a good day in my opinion Don’t feel bad, I got in at like 4.60 and pulled out really early too but still made some nice gains! Hopefully you still made somethin! Right there with ya homie 🤘🏼 Fucking huge!! Love it Thank you!! Damn you rode to the top!! Good for you, very jealous Same. What kid mentioned this shit?!?? I want tendies too! It’s all relative. Profit is profit baby! Well done dude! Yes but you see, here’s the thing, I’m stupid. My pleasure! Unfortunately I’m very well aware haha. I don’t plan on spending any of it so shouldn’t be a problem. Isn't capital gains based on income? So up to 35% at the high end? What scanner do you use, if you don't mind me asking? the one time I didn’t! I think it’s found a solid foothold and should remain where it’s at, good even bump up a bit if the markets start to recover next week! You’ll be good! Watch it pre market, and pull out when you break even or gain a bit of profit I’m in the same boat as you. I feel a little sick to my stomach, but I have hope that if we can promote it over the weekend and share some of the amazing news behind this company and it’s tech https://youtu.be/_K4s6Tvzn-8 and the new company that is being formed through their merger: https://www.pixium-vision.com/ that will make them a global company curing blindness - I think we can get out of this alive. haha If the bulls are willing to run again on Monday we can have another great day and hopefully hit $10 and exit at our buy price or above. I’m ready to just exit at my buy price and not look back, but I have hope… Anyway, let’s try to promote this over the weekend and get some groups to join on Monday and take this up again! Good luck to both of us! Just saw someone post about EYES in the daily thread on this sub. Gave me the heads up to go check out the stock. 13% a day is pretty good work when you can get it. Well I guess it was a big win relative to my life. $3.3k is like a months salary for me and I made it in like 30 seconds haha That's what I was thinking, I'm not day trading yet but learning and some of my normal stocks are doing this like cpe Yes. 3k in a day is a good return. I gotta say I was surprised it had the run up it did today, I would have bet against that. So at this point, it’s anyone’s call I think haha Nice work! Take yourself out for a fancy dinner, you earned it! Sounds like some solid DD lol nice job What sub was the daily thread? And I’ll be looking for the next body part that randomly gets pumped. [deleted] I think affirm is going to do super well for sure especially with their new ventures coming soon Where did you see it before the pop? Yay!! Thanks! Exactly. Find a direct brokerage like Fidelity (Active Trader Pro - fastest orders) or TD Ameritrade (ThinkorSwim - best layout). You'll get level 2 order viewing which is very useful. I wouldn't continue to day trade with robin hood as they're not a direct broker and don't have those tools. Great job! I understand your anger at them but honestly if anything else happens to your account, it is really on you for deciding to stay with them after that situation. If you're that worried, move your assets elsewhere or once you sell everything, move your funds. Why wait to send off to state AG, etc? Webull takes 5 business days to clear AHC transfers for whatever reason. During that time you can buy on margin, but only stocks not options. Also if you play with crypto at all, it has to be settled funds no margin Edit: Also want to throw in, never even look at the comments on Webull. They are all people trying to pump and dump, literal cesspool. Yep! I'm actually I'm the process if moving my portfolio to there since it will let me start trading at 4 instead of 7. Great app. In depth but also user friendly I like webull for the metrics you can pull up on mobile and cannot pull up on robinhood mobile. Also metrics you can pull up on desktop that you cannot with RH desktop. I don't like how clunky it feels to buy stocks on webull. RH does make things easy, but once you get used to webull or tos you look at RH and think, this app has zero things to offer me. If you aren't planning to trade before 7am est, then I would recommend webull or tdameritrade think or swim. I'm not sure of the margin cost because I don't trade in margin. For all-in-one programs, I like TDAmeritrade/ThinkOrSwim and WeBull. I've prefer the UI of ToS, but I have had issues with orders being filled even though I get the alert it was canceled, but that is more of the financial institution side rather than the program itself. Because of that and the earlier tradong hours, I prefer WeBull Interesting, Hope that doesn’t happen here. I don’t use margin so hopefully that will make the difference is this not an error on the brokerage's part? how is this allowed to happen to you? any recourse for you as an investor when this happens? Absolutely no idea. I have no clue what I’m doing. Numbers go up I buy. I’m very dumb Definitely the latest meme P&D if it end up posted on this sub Apparently whatever they're doing got FDA certified today which may have been part of the driving force behind this much price movement. You’ll get there in no time! I saw this symbol on the tv this morning and thought SHIT!!! Arghhhh why can’t I find one of these ?!! Thanks for sharing though seriously, gives me hope. Happy trading !! Congrats! Not wanting to push anything but zom dropped with everything but still have their truforma device coming out so it could recover and go higher than what it was since nothing really changed, except people panicking. Since the device is supposed to be launching the 30th of this month , it will probably have a nice run. Thanks. I kept looking at the overall trend and the fibs saying it had to come back to at least 7.50. I was lucky as it sunk after that Good Bot I didn’t pull out. I averaged up to about $5. And now after hours is 💩 I should have sold when it was in the $9 range! Crossing my fingers its continues going up A few weeks ago I was hitting these a few times a week. Now they're few and far between. This was a fun one for sure,sold it 10 percent below peak. Too late now lol Hahahaha Awesome, you’d be surprised at how many people think stock money is free I just use the scanner in thinkorswim. Pretty sure my criteria this morning was high volume stocks under $10 with at least 5% gain Luckily I only bought 50 shares. But yeah I’d feel lucky to even break even on this one. But it’s also possible that the news spreads over the weekend and people continue to fomo in on Monday. How many shares and at what price? Luckily I only entered a small position for 50 shares at 7.66. With the insane amount of volume we saw on Friday I’m hoping the news spreads around over the weekend and we maintain volume as retail traders continue to fomo in. That’s the best case scenario anyway. Yes it's pretty good but it's not really a home run. Title just misleading but good job nonetheless. Word, nice So pre-market is looking pretty positive on EYES today. Up like $700! Hopefully it sticks. Have a great trading day! Planning on seeing my parents for dinner (they recently got their vaccines). Excited to share with them the good news ! whats DD? https://www.reddit.com/r/Daytrading/comments/lychc1/morning_update_for_friday_030521/gps6219/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3 funny enough, $EARS also gapped up today Now you got me thinking. How are male ED stocks doing these days? Thats right bro. 😎 I guess we'll see ☺️ Youtube tradingisawwayoflife I think that's the channel. Very informative. Tradingisawayoflife I think this is the right one Or both:) TDA allows any size account. Open a$20 account just to use TOS for the scanner and studies and do your actual trading on fidelity ATP on the other monitor How come I never hear about Schwab? I’ll second fidelity. Especially if you’re scalping, the speed of orders is insane and worth it. Level 2 is bullshit [deleted] I had no choice. I had positions that had short expiries, it takes time to get options approval in other real brokers, and the xfer takes weeks sometimes. Knowing them they’d hold it up until expiry. Honestly, blaming people that actually trade? Was it a bad week for you or something? =\ Too much work. Too little time. I'm gonna go on a limb and say that this guy is probably newish to trading. That being the case, I wouldn't recommend him trading options anyway. But yes, that's correct That’s what I’ve noticed lol. I’m new and figured comments on an actual brokerage app might be less: “✋💎🚀💎✋”. But nope. Just a bunch of angry losers and stupid kids. Thank you! Here's hoping. If my folly saves even one person from making the same mistake, it's...mostly worth it haha I dont know the degree to which i can hem and haw but i was pretty fucking salty when it happened. It would be SO FUCKING SIMPLE to calculate equity live because, get this, *they track the price live*. As far as i know im SOL. Haha once people post gains on Reddit, it’s too late Sure, but that doesn't necessarily mean they're going to be worth 4x more Haha, I hope so! I'm looking forward to more of your posts! Love the wholesomeness! I mean this sincerely, if I can do it, you can do it. I’m as dumb as they come Will definitely check it out Thank you, Nebula15, for voting on Shakespeare-Bot. This bot wants to find the best and worst bots on Reddit. [You can view results here](https://botrank.pastimes.eu/). *** ^(Even if I don't reply to your comment, I'm still listening for votes. Check the webpage to see if your vote registered!) aye you're still in the money, green is always good, no matter the percentage If only Cool, thanks Im real close to you about 1000 shares at $7.50 Yeah, one man's treasure is another mans trash. Consistency and compounding those gains are the key. Last 3 weeks have been damaging to my portfolio and my psyche. Finally capitulated on a couple of stocks and that set the floor for the day. So hopefully we can get back to going up. If so, everyone should thank me. 🤷‍♂️ You’re right though, not a home run by any means. If I would have stayed in for a little longer, coulda had 100% gains. Probably would have shit myself if that happened Nice. Which sub you saw the post? Daddy D**k Thanks for delivering OP! 4 hour candles get real high Pretty limp What’s the scanner? I haven’t seen it Because Shwab is stuck in the 2000s I use webull, RH and Fidelity. Fidelity orders both ways move fast. RH is slow, and they are always $ behind when stocks running up so you pay more and when it's falling their delay costs you as it drops further. I only keep it as I don't have 25k to park at Fidelity yet and it allows me to trade on tue and thur when I'm waiting on funds to settle at Fidelity. Webull has best charts, graphs and research of the 3. [deleted] I haven't seen any issues with Fidelity ATP - but I'm running it on a Dell Precision 7530 with i7, 32 GB, and Nvidia Quadro... So I'm gonna be an outlier here lol I find ATP to be one of the worst brokerage apps out there, IMO. It hasn’t been updated since 2014 IIRC. The UI is sluggish, windows everywhere, doesn’t resize...it’s not great. They don’t even support VWAP for crying out loud. It has potential, they just need to throw some money at it. I had some red and some green. But i am just speaking from personal experience. With everything going on with GME, your lawsuit would be about the same as an annoying fly. Not trying to be a dick, but it is just the way it is. Whether or not it is right is irrelevant. What they did to you is obviously wrong, but that doesn't mean giving them another chance to fuck you over is the appropriate choice either How can I avoid that happening in the future? Of course not. That's why I worded my response the way I did. Hopefully it’s a lot of green posts, but I’m sure there will be some loss porn along the way 😅 $3k dumber I’ll take it!! I was Involuntarily retired , might as well learn something new right? I’ve been having fun with it. These reddit comments though sometimes have me dying . Same I sold a bunch of names right at the bottom about 11am lol https://www.reddit.com/r/Daytrading/comments/lychc1/morning_update_for_friday_030521/gps6219/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3 It’s under its on tab called scan if I remember correctly, I’m not in front the computer. You can create any scan you want based on almost unlimited factors. There are also preset like gappers, gainers, losers. I have a custom runner scan that looks for runners before they happen. I don’t have it perfect yet and I get false positives, but it does catch a good amount. You can have the scans alert you when a stock is added to the list. Nah, but I have an i9 with 3090RTX computer with google fiber..... that may have something to do with it. GME is class action. This, if it happens at all, would be targeting someone arbitrarily with a made up “crime” and saying we’re gonna “democratize” my portfolio balance (in essentially an all-cash account) and laugh. That’s illegal as all hell. That’s like a bank saying sorry you cannot withdraw any of your money today: you knew we were Bank of America. Nah nah nahhhh!~~~< I have been one of the loudest voices against then and have started moving a lot of money elsewhere but it takes time to get approval levels for margin, derivatives trading, etc. on the real brokers plus the transit time. Well, when i first got flagged for PDT and decided to give it a go with margin, i was yoloing ~92% of my whole account on TSLA and selling it at $1/share higher, 3 times a day. Was making like 3-10K a day, and in fact overnight mid november i made 57K in a single trade. So one way to avoid that happening is not be so fucking stupidly risky with your trades like, in hindsight, had been. Maybe like 10-25% of your account max on any one position, 35% if you're super confident about the play Haha, either way, I'm rooting for you buddy! LOL, that was me. Under both of the positions that I sold for pretty big losses ended the day up $4k from where I sold. 😒 Oh well, I have proven that I cannot time the market as I usually get in too soon where I have to white knuckle losses for a bit and I consistently sell at the market day bottom. Treading water on my RDS/A bet but that seems to be starting to payoff. Super excited about their future plans for EU-wide ev charging system plus their big nat gas resources. $60+ oil is also a nice bonus as well as being valued in euros so get protection against dollar slide. Thank You Lol all my trades today were with 100% of my account Was there a strategy you were following when you were making these trades like oversold bounce on RSI? Also, how did you decide on stop loss and take profit? I've noticed it's easy to get stopped out when you are trading with a large amount or else you'll end up losing big if you were unlucky to catch the top. No, I'm rooting for YOU Hindsight is always 20/20. Watch Monday be a bloodbath again and will be glad we sold. Who knows... Learn from my mistakes and dont do that anymore That's what makes you a 🦍 I picked NVDA, and later TSLA, because of: A) passion about the company. I find out about upcoming products and such anyway, not just because im researching it to make money B) large volume (why i switched to TSLA, much higher than NVDA) C) decent range each and every day no matter what (about 2.5% up down or sideways) If tesla at (then) like 600 varies by 15-20 bucks every single day, im just chasing after one measly little 80-120 cent jump It’s literally so terrifying, I think I might play it cool for a bit probably true What made you stop with TSLA? Yeah hahaha i was almost shitting myself sometimes throwing down as much as 650K at a time I lost $72000 when it plummeted absolute mad man, I was only throwing 25k at a time but seeing the swing down can be BRUTAL Oh man. My condolences. 3 days later i lost another 157800 on SCKT cause i wasnt allowed to sell :))))) february was fuckin rough" "11 Minute video -- A live trade example of how I use correlating markets to trade without using stops, and turn losing trades into profitable trades by putting on a spread. A great technique for not getting stopped out.",2059,https://v.redd.it/ebngmqidvrn61,"Thanks for sharing your technique! How do you determine wether a stock ist oversold or overbought ? Saved this post! People like you are amazing with sharing their working strategies just to help others without asking for a monthly membership. Take my updoot for I have no awards to give :( Edit: thanks for the kind award! Should’ve given it to the OP for this blessings on trying to help other traders become better in their craft. Ok so this is awesome, but this is what I don't understand about this strategy -> So how do you know which side will ""win more"" to average into? When you buy index A) and you see its going against you, so you hedge by selling index B). Let's say you sell more index B) to offset what you already lost in A. Ok so it starts going well, but then index B turns around on you. Now you are heavily invested more into index B, but now this is a losing trade overall. The thing with this strategy I don't understand, is that ultimately at the end of the day this strategy like all other trading - is still a bet. How do you ""KNOW"" which sides to average into ""more"", so this strategy turns a profit? At any moment theoretically, the directions of one or both indexes may turn around on you, and then depending on which one you averaged into turns from a winning trade overall to a loser. I watched the video and still have no idea how this strategy generates money. Interesting strategy. Great video, thanks for sharing. What sort of % growth have you achieved using this strategy? Interesting. How long have you been trading this strategy? amazing I really like this. I've been trading just the Russell 2000 alone for months now and haven't managed to be successful. I hope to learn and adapt to this fluent and less demanding strategy👌💙 Following you! Thanks for sharing hombre huh this is very different from my buy whatever the fuck is trending at the top of reddit approach Just a beginner here, but hoping to learn a lot from watching this. I'm assuming you're paying for Tradingview - do you think it's worth it? I use it myself and had a month trial of the premium but I never really used the additional features. Though the 4 chart layout looks nice Thanks for sharing this is a really interesting strategy. Gives me some great homework heading into the weekend. Are there more resources on this that you would recommend? Excellent video and strategy. Too busy during trading hours to comment but was able to quickly award the video. Not much else to say except well done. The results over the past years speak for themselves. And thanks for the discussion in the sub. Thats the best post ive seen here mate! Thanks. Do you know where i can learn more about your strategy? To be honest its like a complete new language :) Few questions: Which timeframe do you use, 1 h and 5 min? why the 1 h? Do you trade only mini futures or do you only use the minis for averaging down? If you dont average down, will the trade be a loser or do you do that for more profit? Futures have a expiration like options right? If so, which date you usually pick? And a big thank you thats awesome! FYI trade closed out for $4,000 profit (way more than I was expecting). Closed out at 9PM. Here is proof: [posted it here ](https://www.reddit.com/r/Daytrading/comments/m85wli/an_update_on_the_spread_trade_video_i_posted/?utm_medium=android_app&utm_source=share) Essentially, you're trying to be market neutral. Many novice traders see this approach as very safe but it's really not. In order to make profits, you have to make relatively large sizes on both sides because your profit is limited to the change in spread. The biggest challenge is that assets that are correlated today don't have to be correlated tomorrow. Because of the large sizes and relatively small profits, the wrong trade can wipe out tens or even more of profitable trades. Well, unless you work with stops ;) Every trader should know about market neutral strategies, so kudos to you for making the video, just keep in mind it is not as safe as it looks at first sight. Thanks for the video! I’m still a bit confused on how you end up profiting from this strategy and why it works internally, though... I’ve no idea how this strategy works... NQ and ES/RTY have been on different path for over a month now. Using this strategy if u buy least expensive I.e. NQ and sold most expensive ie RTY, then u are neck deep on that trade and if u kept on averaging in then u are potentially looking at blown account at this point after a month. Great teaching! This was quite interesting! Man the time you took to explain this and to answer questions in great detail is truly selfless. You are not bragging or boasting and simply explaining the strategy. Which is have to say is brilliant. This board is full of a lot of big talkers and advice givers but this is demonstration that actually helps people and doesn't send them down a losing garden path. If you are putting on a clinic count me in! Picking the differences in moves is obviously central to the thesis. Do you use just an eyeball or are you using any specific point measures to know when its time to implement the strategy on an index.? This is great. As someone just starting to learn the basics of trading, do you have any good resources for getting started? I have no idea how to set any of this up. Thx for sharing ! Ever thought of automating the trades ? Seemed like you already have some sort of rules. Very interesting thanks for sharing. How and when do you exit these trades? good strategy u/ADHDbetz. Question, what happpens if it goes sour? whats your max exposure? and given the same analogy, wouldnt it net the same if just bough half of your contracts for a profit? this part is quite unclear with me in general. thanks for sharing Legend Starting of the video 0:00 , the chart o the top left Russel 200 Index Futures, What is the spike bar plot on the y axis , Is it a built in chart in TradingView ? I have seen those on manny videos , but dont understand what it is , please see following image where I point it out --> [https://imgur.com/a/6vJcKQl](https://imgur.com/a/6vJcKQl) thanks kudos! great approach, can you show us another example with commodities? (i.e cotton, corn, etc.) im really curious with your approach to this, i kinda got the vibe but want to be sure and compare to my deductions see whether if its correct or not ​ thanks again Awesome stuff dude. I trade a very similar strategy but I use the bollonger bands to see the deviation between the indexes in relation to there relative price. Cointegrartion and correlation. Good share. If you’re looking to develop the trade over a day or 2 and then look for profit, how long do you look back in time (setting your 0 point) to determine the divergence between the indices? Is there a difference you just won’t mess with? Like let’s say over the time you’re comparing to the divergence is <1% do you still start the trade? Are there times of the week/month that you do better? Like if you started the trade on a Monday vs Thursday kind of thing, and do you avoid periods like monthly opex dates? A basic question u/ADHDbetz: When I look at the 4 hour chart -- from Mar 1 - to today (3/31) - I see RTY and NQ is pretty close to each other and both much lower than DJI and SPX. ​ However, if i lookback is from Mar 22 to now, I see DJI, SPX and NQ all ganging up and RTY looks like the abandoned child at least 5% away and below others. ​ So the question is : What should the ideal analysis time frame be ? Are you using a 4 hour chart? ​ Thanks in advance I really enjoyed this video, thinking of implementing something similar for my strategy! Thank you! 🔥🙏 This right here is why I appreciate this sub so much. Thanks OP for sharing this. I'm new to this having invested 3k and still negative despite trading the past 1 month with little knowledge relying on basic DDs I gather from others. Ty Trading ES you have to be super accurate and super fast or algo will crush you. Could you buy calls on one and puts on the other so you don't have to think about margin at all? Please coach me u/save maybe I missed it in the video. but how do you identify when the trade is going to be a loser and you need to exit? Would that be when both the chosen pairs are printing negative? I have a few questions; would be really great if you take the time to answer. Thanks in advance! Edit: Thanks for sharing your technique! \--- So in the example you demonstrated, you sold RUT and bought SPY (using these tickers for convenience), seeing that the former is historically overpriced than the latter. 1. So your position is a bet on the spread narrowing. What if the spread keeps widening ahead? What's your approach going to be then? 2. You said the 2nd leg is an alternative to a stop, removing the risk of being stop-hunted. At what point do you exit both your legs? I'm assuming when the spread gives you a bit of profit. And at what point do you exit your second leg and hold on to the first leg and the initial trade you bet on? 3. You also talked about averaging in. Stops are usually put in prices where, if the market goes, invalidates the trade being taken. If the market goes against a long trade you take, and you sell a 2nd leg, and keep averaging in at lower prices, you're essentially doubling down on your long trade, aren't you? Or does that simply morph into a bet on the relative difference on the two contracts narrowing (aka spread narrowing)? In order for this to be successful you timing has to be quite accurate and fast. Otherwise you the built up discrepancy and margin can drain you Nice Whats the custom indicator on ur top left chart (russell 2k), right side of the candle that look like a vertical volumes? thanks What platform is that? Do you mind sharing your charts for this? I tried setting up the micros for the same thing but it doesn't seem to work out as well as yours https://www.tradingview.com/chart/KOycAfXX/ ([and screenshot](https://www.tradingview.com/x/uFaagN3N/)) Great content, thanks for sharing. How is everything just going down at the same time today? This is great, I'm on vwap & macd, do you use moving average at all? How do you decide what stocks to have a little scalp with? Thank you for the excellent explanations! Nice Thank you for sharing! Hi, great strategy! How do you determine which index is more expensive? How do you get that chart in the beginning of the video? any one know where you can go get a class on this stuff? Someone that is doing online classes that are organized. Willing to pay for the knowledge, just when you look it up online theres so much BS. I kinda of understand what he's doing, but a lot goes over my head. I'm still hesitant on putting money in, especially after the past few days. Comment so I can come back later Great info, thanks! Great video, thanks for sharing your knowledge. Does this only work with futures or do you trade other assets? Bookmarked Thank you! I’m new to trading and this is perfect I know you mention to trade micro contracts, can this strategy be done with just shares of each correlating market? You're that bast maan Idek you could do spreads like this between multiple stocks. Can you do this on webull?? Awesome strategy, thanks for sharing! Do you track all 4 indices every day? How many trades do you make per week? Thank you for this! It’s such a nice break from the memes haha. Hope you share more!! Posting to save, thank you for the video breakdown! This also works with crypto, you just need to spend a bit of time analysing the perps and the addition of a z-osc. With crypto it’s more important to balance each leg as it’s essentially a mean reversion play. Bangarang! I backtested RTY and YM based on Trading View chart, and replicated using NinjaTrader playback connection and I documented entry, and possible exits per OPs instrument and marked them as such on the chart, but I actually kept them running until session close on Friday. Sorry for the spelling grammar in advance, but I wanted to do this in under 1 hour. [backtest YM/RTY pair March18/March 19](https://docs.google.com/document/d/1rysWYa2XQenUubLAQjxWPus_evE_A94orgkE8QSdk_w/view) Note: I assumed falsely the ratio is 1:2, but they are actually 1:1 given the initial margins on RTY and YM. No point trading into the close it's just unnecessary risk. AMP's night/day margins are the same. Do you think this would work with the market ETFs as well? Or just the futures? Thank you for sharing! Have you tried doing this with eurodollar spreads? One of the smartest strategies I have ever seen. Quant level stuff. Impressed. If only I weren’t colorblind :( What do you think of $NAKD. That group of folks have lost their minds. I'm holding a few hundred shares in hopes that it will rebound but these people think it's the next$GME Does Tradovate request a social security card and proof of address to set up an account? Bc they are for me. And it feels wrong.. im down 7 k on a 10k account lol Did anyone save all the posts from this guy? He deleted his account and I only saved this one. Q I just use the MACD. If it's above the zero line and turning down, I will sell. If it is below the zero line and turning up, I will buy. I determine the relative value of things by just using the ""Compare"" feature on tradingview and comparing all the Index futures. So then I will look to buy the least expensive (down the most on a percentage basis compared to the others) and / or sell the most expensive. Usually I'm comparing them over the course of 7 to 14 days on a 5 minute time frame since these are shorter term trades. Hybrid shit is the only way Apes win. Adapting Because you want to buy the one that is least expensive and sell the one that is most expensive. And you need to average in with the correct ratio. It's essentially mean reversion. You definitely don't want to BUY the most expensive and SELL the least expensive -- that's definitely how you'd lose out on that trade. And the spread may go against you for awhile, but the confidence comes in knowing that either the most expensive is going to go down to meet the least expensive or vice versa. Like if RTY goes up 5% and NQ only goes up 0.5% -- one is going to catch up to the other. The question is...which one? Is RTY going to go down to catch up with NQ or is NQ going to go UP to catch up with RTY? This saves you from having to make the right guess. You can just sell 2 RTY / buy 1 NQ If NQ drops down to -1% and RTY goes up to 7% -- you're going to be negative on thay spread. BUT that divergence really can't last long since these are so highly correlated, so I'd just buy 1 more NQ and sell 2 more RTY to average in. You are also protected from wild swings in the market, like if something bizarre happens because I don't know... a bomb goes off in NYC and the markets start going bananas, you are protected from crazy losses. Like if you had a stop in that environment maybe you'd be filled 100 ticks below your limit. Like the ES ans RTY tank 20% in a day -- you'd actually probably be in the positive if that happened. Thanks! I learned this Relative Value approach from a former CME floor trader, who also ran a proprietary Bond Futures firm for about a decade (sold for about a Billion to a hedge fund). Haven't looked back since. Has really helped my trading, and lessens stress quite a bit. Well I started put with a $50k account about 11 months ago to devote to this, and I have made a net profit since then of $132kish, so over 200%. Now I keep around between $65k and $100k in my account and I withdraw money every couple of weeks and basically just use it to buy Bitcoin, precious metals, and save in an interest bearing account. I'm always worried something will happen that will like wipe out my account or crash my broker (which is not FDIC insured) so I just feel more comfortable keeping that amount in and withdrawing frequently. Almost a full year now. I haven't had a red week since then. I do these trades with the indexes , bonds, oil/gas, and gold/silver, but the indexes are ones I do pretty much every single day while the others I kind of wait for them to setup a certain way. And with the indexes, my trades don't always turn into a spread. For example, today became a spread because I noticed while buying the ES that the Market was tanking overall, so I sold RTY to protect myself. If ES had just gone up like I had initially thought then I would have just taken it off at the VWAP for example. >Many novice traders see this approach as very safe but it's really not. In order to make profits, you have to make relatively large sizes on both sides because your profit is limited to the change in spread. Well it is safe, hence why brokers drastically lower margin requirements for it. And you don't need large size to make money at all. I put on the equivalent if 1 ES and 2 RTY eminin contracts and made $4,000 in this trade in less than 24 hours. >The biggest challenge is that assets that are correlated today don't have to be correlated tomorrow. Because of the large sizes and relatively small profits, the wrong trade can wipe out tens or even more of profitable trades. Well, unless you work with stops ;) None of that is true at all. Indexes are over 95% correlated with each other. Ideally for the best trades, you would WANT a breakdown in correlation, because that means when they step back in correlation you will make even more money. There is no ""wrong trade"" your losing leg is mitigated by your winning leg. Again -- there is a reason brokers reduce margins for spreads by up to 75%. And you're a fool to use stops with this strategy. It makes no sense. >just keep in mind it is not as safe as it looks at first sight. Sorry, but this is misinformation. Isn't it a fair assumption that the indices will stay correlated? Op has been trading since market rocketed up since March, so I'm curious to know more of your thoughts on this. This is correct. For example use AAPL and FB which have an ~0.6 correlation historically and then look at the chart in the last month. They’ve diverged and if you made a convergence play, you’ve lost. ETF a little safer but the convergence will be smaller so you have to leverage up and take tail risk. You could play divergence (long faster growing short slower/down) which is the classic hedge fund strat. Anyways, it’s not as simple as OP says “short the more expensive, long the least expensive price” and using MACD as buy/sell signal. Overall, do think there’s alpha in pairs trading but algos for sure arb’ding it out. > as safe a Vic this strategy is a market-neutral strategy. Inherently it reduces volatility which is probably the main identifier of risk in wall street... albeit I don't agree on Vol being a proxy for risk. But it reduces vol and part of market risk is removed. If you are trading interest rates, most of the IR risks is removed. And if you are trading indicies you've remove idiosy. risk with individual names... Well think about what a Forex trade is. It's buying one currency and selling another at the same time, right? Same thing. Like if you buy GBP/USD spread you are essentially simultaneously buying GBP and selling USD. So very similar. Let's say -- for the sake of easy head math -- it takes around 30 ounces of silver to buy 1 ounce of gold. But suddenly it takes 60 ounces of silver to buy one ounce of gold -- so gold sky-rocketed in price. Well the two assets are super correlated. But the question is -- should you short Gold because you think it will go back down to the level silver is at? Or do you buy silver because you think it's going to move up to where gold is? Why not just buy the less expensive one (silver) and sell the more expensive one (gold) at the same time and not worry about being right on a binary direction? You know ONE of them is going to move to meet the other. It's essentially mean reversion. Not really. I have been buying NQ / Selling RTY literally all month. The more RTY / NQ diverges, the more confident you become in the trade as you average in. In fact, if you look at around March 15th to March 17th you'll see that the spread finally narrowed back in a HUGE way. RTY dropped while NQ simultaneously rose. I had been averaging in short on RTY and long NQ for about 5 days -- once the spread finally narrowed I made an enormous amount of money in 48 hours. As far as blowing up your account...just be aware of your margin relative to account size. Most brokers give you between a 50% and 75% margin reduction for spread trades due to them being so low risk. Add onto the fact that I always start averaging in on Micros, and my risk is even lower. If you have a $10k account and you're averaging in up to 90% of your account in margin then yeah you will blow yourself up. I never go past 75% margin relative to my account. If that happens I just exit the spread. As I mentioned in some other comments, the last time this happened was a couple months ago. I exited at a $2k loss (winning leg was up $8k, losing leg was down $10k). But that was less than 3% of my account so it was fine. You can't do this in a tiny account. You need room to average in comfortably to let spreads work. Also, how far do you usually give your losing normal trades a go before opening a spread (in terms of them going against you)? Thanks in advance, your other answer here have been great. Looking forward to having a go with this strategy. That's the ""Session Volume HD"" and the lime is the POC (Point of Control) which is the area that has the most traded volume. There's a silver/gold and oil/gas examples I posted previously, which you can see if you look at the posts on my profile. For cotton, corn, soybeans stuff like that -- it's actually better to do seasonal calendar spreads so like sell March, buy June...etc. Spreadcharts(dot)com has great tools for that. Did anybody happen to save more of these posts for the user? He deleted his account and I only saved this one. Nope. Algo is front-running and in and out of the position. You have to be approximately right with this strategy than precisely wrong. ie. 1. find highly correlated markets 2. when they are streched - buy the cheaper and sell the costlier 3. close when the gap is filled Yeah probably, but there's volatility, skew and time decay to factor in which is stuff you don't need to worry about in a Futures contract. I'm going to try this with options since then I know exactly what my max risk will be; the cost of those contracts. I wouldn't need to worry about a divergence getting greater and staying that way for an extended period. Hope it works out for you. I had 4 successfull paper trades with the system already. I'd just average in more. If I get out at a loss, it's usually just because I have averaged in too much (so margin is getting too high) and the spread is taking too long to work out, so I'll just exit and look to put it back on again with a better entry. Losses are usually pretty small because the winning leg offsets the losing leg to a large extent. Maybe I'm down $10,000 on the losing leg and up $8,000 on the winning leg, but margin on my account is like 75% of my account value and I really can't afford to average in anymore at that point -- because if I average in anymore there's a chance I could get a margin call. So I just call it a day, book the loss, and look to put the spread back on from scratch. Happens very rarely to be honest. >. So your position is a bet on the spread narrowing. What if the spread keeps widening ahead? What's your approach going to be then? Average in more, because that's an unsustainable divergence kn two highly correlated assets. If Russel is going up while S&P is going down -- one of these two assets is going to have to step back into correlation. If anything that strengthens my confidence in the trade and gets me more excited. Because that usually signals a MUCH stronger move back into correlation (so more money for me). >You said the 2nd leg is an alternative to a stop, removing the risk of being stop-hunted. At what point do you exit both your legs? I'm assuming when the spread gives you a bit of profit. And at what point do you exit your second leg and hold on to the first leg and the initial trade you bet on? If I'm going to exit I'm always going to exit both at the same time. And I am a wimpy trader and like to take profit fairly quick. I am really struggling to keep this on until evening because it's up $800 and I just want to book it lol. But I think it has more upside so going to force myself to stay in a little longer. >. You also talked about averaging in. Stops are usually put in prices where, if the market goes, invalidates the trade being taken. If the market goes against a long trade you take, and you sell a 2nd leg, and keep averaging in at lower prices, you're essentially doubling down on your long trade, aren't you? Or does that simply morph into a bet on the relative difference on the two contracts narrowing (aka spread narrowing)? It morphs into the latter like you mentioned -- it becomes a mean reversion trade. So in the above example where the spread widens -- I'd actually be averaging in with greater confidence. The thought being ""This is an unsustainable divergence -- the more they pull apart, the more confident I am in them snapping back in line."" I do it because your timing doesn't have to be perfect or fast at all. You jusf buy one, sell the other. It's not like you have to be quick silver. Here is me entering an oil / gas spread: https://www.reddit.com/r/swingtrading/comments/m5b5v6/short_video_of_me_putting_on_a_live_spread_trade/?utm_medium=android_app&utm_source=share The position I entered for $3000 in margin when I commented last is up $1.2k now. Neat. Look up pairs trading (not forex pairs- you want correlated assets like related futures or indices with .65-.85 correlation), and statistical arbitrage there is a tons of info out there, I’ve been deep diving this and it’s fascinating stuff! Yeah, I’d take lessons on this. I understand it intellectually, but not practically. He’s a really good dude to share such specific knowledge w/o self interest. I haven’t day traded yet. I just buy stocks and hold. If I knew I could do this, I would. I’m gonna study this guy’s post(s) and maybe dip my toe in the water. Definitely. Same thing really. I've done this before with BTC / ETH and you can also get the ratio much closer. Worked out just fine. Unfortunately technically it's ""illegal"" for me to trade crypto derivatives because I am a US citizen, so I'm waiting until I get my second passport to open an account under my new citizenship in order to take those trades. It's literally retarded that I am not ""allowed"" to trade derivatives contracts on crypto for ""my own good"" but I can put on a Nasdaq Futures contract with $256,000 in notational value for $500 margin lol -- a literal 500x leverage. But it's regulated by the CFTC or whatever so it's ""safe"" right? Hypocritical horseshit. Yeah it's 1:1. Really cool. I have no idea how to do any of that stuff, though hah hah. Super big-brain. [deleted] Amazing. Thank you for this. I paper traded this myself on multiple days in feb and March and I thought I was doing something wrong or paper trading got me in at a ridiculous price because I never Incurred a loss. In fact I was up 45k at one point. Promise to let each other know when we go live the results? This backtest is amazing. I'm personally really curious if this strat works on shorter time frames. What if one just isn't comfortable waiting for several hours while you are experiencing major drawdowns. Nah, there's nothing risky about it with this strategy. Also, like I said in the video, brokers will reduce initial margins by up to 75% for spreads due to there being inherently less risk. Works with any two markets/instruments that are highly correlated! Also. Great video. I'm a newer investor and really appreciate a more in depth view of how others make it work for them. I have never used a broker that didn't require those things. Okay thank you, appreciate your answer! Great info. Thanks Thks for sharing! do you ever hold overnight? And by selling, are you actually shorting? With a 3k account should I just compare the e-minis then do spreads off their micros? If yes do I calculate ratios off the micros initial margins or the e-minis ones? It’s a lot of dumb questions in a row sorry Thks a ton for your time! Thanks for answering. Ok wait let me see if i understand. So the correct ratio is to make sure that you are ""generally"" equal on both positions. And then, the profit comes from the fact, that the two don't revert to the mean at the same pace, or even ""equally"", but one will revert faster or more than the other always, and it doesn't matter which one, because you are equally invested in both, so the one that reverts more will be a bigger winner, and the other the smaller loser. Am i sort of getting it or completely off? Now the spread trading tactic makes more sense to me, thanks for the further justification This is pretty awesome stuff. Thanks! I've started trading this earlier this week and already made a couple of hundred. Do you ever ""switch out"" one of the pairs? I'm long M2K and was short MNQ. Just booked a decent profit on MNQ and replaced it with a MYM short. Dumb question - if you are long biased and the 4 horses are +6% to +2% when you look back over 14 days I understand you sell the 6 and buy the 2. What if it’s the reverse on bearish trends? -6% and -2%? Do you flip and buy the -6 while selling the 2? And secondary question do you get caught out when the big reversal come? Thank you for sharing 🙏🏼 Why are you using a broker that you are not comfortable with? I exactly parallel your #s as a day trading rookie. Not using anything but an app for info and pattern within stocks. So take it all with a grain of salt. I legitimately took 8 k out today to put into crypto 16k new total. I am not too bullish on the market, missed the “rotation “ to energy and financials. So I will take all profit out and buy crypto. My thought is buy eth/btc only. Emphasis on Eth 60/40? Gd stuff Dark pool? [deleted] Wow. Pretty impressive. I’m going to spend some time trading this in a sim. Thanks for sharing! There's no free lunch ;) Here's another example from just this week. Volkswagen is traded in Europe with two tickers, VOW (common share) and VOW3 (preferred share). There are quite a few people trading the spread as, usually, the two should not have a big spread. We're talking about two stocks of the same company, correlation can't get much higher than that! Since the beginning of the month, divergence is on the rise, the common stock leaving the preferred share behind. So, traders have already been betting on a convergence, as they always do in these situations, as the OP recommends as well. This went completely south this week when the two stocks diverged up to 30% at some point. Many traders got squeezed out, losses were massive. The closer two securities are correlated, the more you have to trade in order to make money. Assuming you have a very close correlation of almost 1 as in the Volkswagen example, a 5% spread is as good a time as any to get in. Divergence will almost never go to 0 so you basically go for a spread convergence of 2-3% to close the trade. In other words, if you want to earn 5000$ on this trade, you have to build a position of about 200k on each side (assuming you go for 2.5% convergence). To make the example a bit simpler, let's say you go long with 190k and short with 200k, expecting for the long position to either catch up with the short, or the other way round. Now, let's assume the company does well on the market in general and both stocks start to grow a lot, but divergence keeps growing as well, you may end up with the following situation. Your short will now be 350k in value while your long will be 270k, ie a divergence of roughly 30%, at this point giving you a paper loss of 80.000$. If, like the OP suggested, you were trying to average down on the way up, your paper loss may be already 100k or much more. And now compare this to the 5000 you wanted to make in the first place. Yes, it is bound to converge at some point. But since short interest has grown by so much in the meantime, a squeeze can happen anytime, turning your 100k loss in a matter of minutes into 200k, 300k or more. I mean, most of you known Gamestop by now. I'm sure when it started to go up from 5 to 10, many traders felt its a surefire short, be it naked or compared to another seemingly correlated stock in a spread play. You know the rest of the story. Always keep in mind the number one premise in trading: there is no free lunch. Therefore, manage your risk. Stops are a painful but necessary part of that. Ahh that is very interesting, appreciate the time to explain it to me. Makes more sense now. When do you choose to take profits? Does the trend ever go negative and end up not working out? Ok thanks. This is interesting. I’d hv to backtest this tomorrow and see how it performs. That’s what’s I said numb nuts Well I'm fairly new and scared of margin. :P This strategy seems cool though, I might play around with paper money first. Beauty. thanks man OK. Thanks for the reply! That's given me an ample amount of food for thought. Really fine work my friend. You are very much appreciated. Thank you. Unfortunately the UK is headed the same way. The saving Grace at the moment is that it’s bound to UK based exchanges, and because most derivatives platforms are overseas, not included. Only a matter Of time though. It’s so ridiculous as it will just encourage retail to go with riskier, un-regulated brokers like what has happened with binary options etc The kicker is being that crypto was a reaction against greedy, over leveraged institutions. Seems ironic to say the least [deleted] Yes. It was. I missed that. But how much does it matter given the trade timeframe of 1-2 days? Ultimately, I think we are exploiting convergence/divergence inefficiency for a short period of time. Anyway, I have a new one on in live (paper) trading overnight and I will check later. Happy to provide an update. Step 1 is run live paper trade this week and next. Step 2 is try to find a way to automate this on NT8. But I will keep checking here. Apparently this strategy is pretty popular and generally even used by Richard Dennis’ turtles back in the 80s. However, there is no mean reversion in their method, and more trend trading. Further research suggested that mean reversion will eventually blow up. So what I like here is the trade is short enough that any major divergence will cause a loss and you better exit or have discipline to exit or have a stop loss. I haven’t run it again because markets have been crazy and I was focused on my other strategies. Yeah that's basically it. With the ratio you are looking to get as close as you can in the Notational value of both (unfortunately you can't get it perfect, you can also just use the initial margin requirements as a guide for ratio). I don't know if you saw my ninja edit on the previous comment... But let's say that RTY goes up 5%, YM goes up 4%, ES goes up 3%, and NQ goes up only 2% (ideally you'd want to look at like the last 2 weeks at least, but this is just an easy example). So most expensive = RTY Less expensive = NQ So one of 2 things is going to happen, either RTY is going to go DOWN in correlation with NQ or NQ is going to go UP in correlation with RTY. Why not save yourself from having to make that binary bet? ""Do I buy NQ?...Or do I short RTY?"" You just do both simultaneously. Now let's say you buy 1 NQ and it keeps going down over the next 24 hours and you sell RTY and it keeps going up over the next day. Well that kind of divergent behavior on 2 highly correlated assets is pretty unsustainable. So I'd average in a little bit more with confidence of the likelihood being that either NQ is going to rally a lot to catch up with RTY or RTY is going to sell off a lot to catch up with NQ. Either way -- NQ has the most upside and RTY has the most downside. It gets rid of a lot of agonizing over ""picking a direction."" And because one leg is usually going to be green while another is red -- even if the movement for some reason is not enough to out you in profit and you decide ""ugh, this is a dud, this is taking too long -- I'm going to exit the spread and redo it with a better entry point"" then the losses are much more minimal because your winning leg offset it. There's also the fact you don't need to worry about perfect entries and getting stopped out because you don't need to put a stop. It gets rid of a lot of stress. I HATE getting stopped out, especially when the trade just turns right around and works and my entry just wasn't perfect enough timing. Drives me insane. This is a non-directionally biased trade. So I have no directional bias. I just want to sell the most expensive and buy the least expensive. I don't trust any broker, really. I don't trust banks or cash lol. Why do you think I'm putting most of my income into Bitcoin and precious metals. I'm paranoid. But I am looking to switch soon. Most futures brokers aren't insured. The thing is Interactive Brokers and I think TD Ameritrade are...but I HATE their platforms with a passion. I love Tradovate's platform, especially their mobile platform. Still shopping around. I personally wouldn't recommend anything lower than $25,000. You could conceivably do so with $10k, but personally I wouldn't feel very relaxed with that size. I'd feel like I couldn't trade the way I want with that sized account. have you found any sim you can trade this with? The Tradingview Pro Trial does not let my trade this. Nobody said there was. Look, I don't like to be rude on here, but your comment is misinformed. Maybe stick to WSB. Yes tail risk in these spread plays are large and OP is leveraging heavy via futures. It’s all the trading beginners in this sub who have never seen market neutral strategies. I hope OP is doing well and keeps it up, just need to mention the risks to new traders who want to try pairs trading and all they know is basic VWAP/RSI/MACD... and now they’re dabbling into more advanced strategies. OP doesn’t even use price ratio of the indexes as a study which he should lol... instead eyeballs relative price with absolute prices. It’s because most of his real gains I’d bet are market directional. Again if people are trying to backtest this maybe use AAPL/QQQ. edit: Free information available online but take the price ratio of QQQ to AAPL which 30d is approx 2.5. Currently the price ratio is 313/119=2.6 and if you plot this chart you might say the price ratio will converge back to 2.5 so now you know to go short QQQ long AAPL. If the ratio were 2.4, you would go long QQQ and short AAPL. Divergence plays are the opposite of above. Anyways, OP did not explain in the video how to figure out which to short/long and what this play really is at a fundamental level. It does go negative. Like if you were to bring up a gold/silver chart (basically one candlestick chart representing both gold/silver simultaneously) you can see the spread clearer. And you can do that with any spread, really (oil/gas, 5 year bond / 10 year bond, RTY / NQ...whatever). So if you think that spread is going to go UP then you'd want to buy gold / sell silver. If you think it's going to go DOWN you'd sell gold and buy silver. Let's day you were watching that chart -- you bought gold, sold silver and the chart started going down -- thay would mean you position would likely be jn the negative. I like to check that as well, usually on a 1 hour chart to see where that's at. If the MACD is overextended -- either overbought or oversold -- that adds conviction for me (because again -- it's basically mean reversion). Sometimes the spread will move against you for awhile -- but I usually just average into the spread until it becomes profitable. And because your winning leg offsets your greater losing leg, you often don't have HUGE drawdowns and you don't have to use stops. Also, if some crazy bullshit happens in the market that is also a protection. Like a flash crash or something (you'd probably make money). Most people when they do a spread trade like this will likely Buy ES / Sell RTY (for example) immediately at the same time. What I do is a little different -- I will look at a 5 minute chart and wait until the leg I want to buy gets oversold on MACD. And I'll buy. If the price goes up and hits my target-- I profit (no need for a spread). If the market goes against me, then I wait for whatever is currently the most expensive correlated market to get overbought on the MACD and the short it. That's exactly what I did today for example. I've found this results in a profitable spread more often than just buying one leg / selling the other at the exact same time. Lol.. Really? If you're scared of margin you shouldn't trade real money at all tbh, it just means you don't fully understand what margin is or how it works. That isn't to say that you should always be using it, but if you're still so new that you're afraid of it, you don't really understand enough about trading to justify putting real money on anything. >I might play around with paper money first. Fantastic idea! Exactly -- this meddling, coddling, and babying of people is absurd. ""Oh you're too stupid to risk your own money, only big, rich hedge funds are smart enough to do that you silly widdle baby."" ​ Like what if I own BTC and I think there's going to be a HUGE downturn and I simply want to hedge my physical BTC holdings by going short on the futures? That way I can make money on the downside while my holdings take a hit and mitigate some of the loss? Why can't I use Futures or Options as insurance in those situations? ​ They're saying I'm not ""allowed"" to do that. ​ But what really got me is that -- I'm in Thailand right now -- so there was no ""geoblocking"" for me to get a ByBit and deposit crypto to trade Inverse Perpetuals. ​ So I didn't really care...until I realized that I couldn't actually cash out anything if I wanted to because, if I did it through US exchanges and cashed out to a US bank, then it could be traced back that I 'Illegally"" traded on a Defi network with crypto derivatives even though I don't even live in the US and haven't for over six years. ​ So I could trade and I could keep all that money in crypto and keep sending it to a hardware wallet, but there's no way I could actually really exchange it for currency to get some cash flow. ​ It's getting to where being a US citizen is becoming a liability and a hindrance to my every day life. ​ I literally still get taxed by the IRS even though I don't live there -- the USA is the only country that does that. [deleted] What do you mean by ""what I like here""? Do you mean what you like about OP's strategy (he holds for at most a few days as far as I know) or what I was suggesting, where one just tries this mean reversion on the really short term (think: holding maximum for 30minutes). The really short term doesn't seem to work. I haven't extensively tested it but from my little testing its just... the correlations are just too unpredictable when its that short of a time frame. It might diverge for 4 hours until it converges again and if you are only holding for 30min you are shit out of luck and will be a major loss. What do you mean by this though this made me curious: > however, there is no mean reversion in their method, and more trend trading how can you do this kind of strategy with just trend trading? yeah i saw your edit, and I'm glad i understood it correctly then. Holy shit this is insane. This is absolutely one of the smartest strategies I have ever read/seen. Btw just to be clear because I might be misunderstandthing this last part - when you average in do you mean you put more contracts on both sides? or just one side. And lastly, how often does this happen so you can consistently profit off of it? I mean obviously profits will also depends on how many contracts you buy/sell. but how many such opportunities arise usually like weekly? Still trying to wrap my monkey brain around this approach to the markets. So for example, i’m looking at metals to see if I can apply your logic… Got Palladium gold copper silver and platinum in at the moment on the five minute chart. Palladium is most expensive at 14.35% over the last two weeks, silver is -3.35%. I then create a new chart by dividing Palladium over silver. tells me the ratio is +15.26% at the moment, with a potential bearish MACD signal coming. I guess the logic is we are hoping for a mean reversion back to 0%… So the trigger to start legging in would be when the [XPD/XAG] ratio reversal is confirmed by the MACD signal. (Edit: ie. long silver short palladium in maybe 3-5 days time). The risk is that the ratio continues to blow out to say 80% as was the case back in March 2020. Am I heading in the right direction? There is a massive library of available platforms you can connect to TWS api for futures. Many of them have an auto spreader function as well. Day trade margins will be higher with IB though Nice video I mean a free lunch is definitely making 200% returns So basically what you and the person you replied to are saying is that there are situations with this strategy that endure massive risk, because you'd keep averaging in and they'd keep diverging for longer than you can keep that up. (I agree with this btw). So I have this alternative idea to sort of do this entire thing differently to bypass this problem (especially because if I would start trading this with real money i would not be able to average in due to small capital size, and I wouldn't want to either due to added risk), and I'd love to get your opinion on it. So do you think something like the following would work: if I change the strat so that there is no averaging in, and instead I'd look to only capitalize on short-term convergence. So basically, I'd look at the relatively short-term spread chart on two of the indexes that are lowest/highest on the longer timeframe relative index comparison chart, and identify possible resistance/support levels for the spread chart itself and then make trades based off of those. This is the same as basically trading a stock off support/resistance itself, except that the advantage is that with the spread chart i feel like maybe its easier to ""be right"" since the fact that they are ""supposed to converge"" is on your side, whereas with single stocks or whatever it goes wherever it pleases in the grand scheme of things. And then, this is the part I'm struggling with a bit... I would still need some kind of risk management since I'm not averaging in. So would something like... maybe having a ""time stop"" work I wonder. So I take a spread, looking for the short term convergence, and if it doesn't happen in lets say 5 minutes I quit at either breakeven or a hopefully small loss and look for the next opportunity. Or instead of that just a normal stop... the only problem with normal stops is that spread trades sometimes take on drawdowns for extended periods and I might constantly be stopped out and take losses this way. Anyway this is my idea, but maybe it's not viable at all lol. And also: > OP doesn’t even use price ratio of the indexes as a study which he should lol what does price ratio of indexes mean exactly and how would you go about calculating that? Hi, thank you for the amazing insights. So do you wait a long time to buy the 2nd leg in that example? Minutes / hours? It seems to be easy to explain but probably need quite some experience to implement it properly Anyway, thanks again, interesting Can you actually bring up charts with one candlestick representing a spread? if so, where? That's interesting to me and may help me understand the concept of your trade better. Can you clarify a bit more? Margin is debt right? Money I would owe to the broker if the trade goes tits up? Sorry for the delay. I look back 1-2 days max given the time frame I had. My setup with NQ/RTY pair ended up making $8000 by 10:30am. I marked exit at that point and left it running the rest of the day. By end of day Monday, it was running $8100 loss. Goes to the same principles of being careful with entry/exits and taking profit routinely. Reminder: my trade was short 1 NQ and long 2 RTY. Pull up a chart on trading view and see how they performed Sunday night to Monday morning. You will see that they eventually converted by Monday AM with NQ going down and RTY going up. Around mid day, RTY went down and NQ went up basically against both positions. I am going to try this setup again later in the week and report back, but please do share your experience. I like both. Read enough research that suggests mean reversion can blow up pretty badly. Technically, this doesn’t seem like mean reversion, but rather trend trading of correlated instruments. We are not trading SOY vs GOLD. These equity indices trend together. You are simply trading that the correlation will tighten again. At least it seems that way to me. >Holy shit this is insane. This is absolutely one of the smartest strategies I have ever read/seen. This is called a ""Relative Value"" approach to trading and its what hedge fund guys do. I learned it from a former hedge fund owner who was also a former CME floor trader and CBOE market maker. Bond guys do this a lot as well. For example if you Google ""ICS Bond ratios CME"" you will find all the established Bond Futures spread ratios. These guys will trade the yield curve all the time doing this. For example -- buy ZB (30 year bonds) sell UB (ultra bonds). And of course indexes, metals, and energies (my other favorite spread is Crude Oil / RBOB Gasoline -- see one of my other posts in my profile for that one). >when you average in do you mean you put more contracts on both sides? or just one side. Same -- always the correct ratio. So if you like buy 1 NQ / Sell 2 RTY and you are averaging the same then you need to keep that 1:2 ratio. But I average in using Micros. So I started out with 5 Micro ES / 10 micro RTY. Then I averaged in with 3 more micro ES / 6 micro RTY. But notice how the Ratio remained the same -- always 2 RTY for every 1 ES. >And lastly, how often does this happen so you can consistently profit off of it? I mean obviously profits will also depends on how many contracts you buy/sell. but how many such opportunities arise usually like weekly? I do it pretty much every day with the indexes. If I'm profitable like right out of the gate by $500 to $1,000 I'll just book the profit. The next day (usually around 6PM EST -- because I am in Bangkok time ) I will just look at which one is most expensive / least expensive and do it again. If it's not profitable right out of thr gate throughout the day I'll just average in over the next few days until it is. Right now I am up $800 on the current spread, but will let it ride a little more because I'm going to bed. So will check it at around 6PM EST (which is morning my time). If you're wondering when I get out at a loss -- it basically has to do with margin. If I have continued averaging in, and now my account is taken up by like 75% margin and the spread is still not profitable -- then averaging in more means I am risking a margin call. So at that point I'd have to just cut my losses and exit the spread and look to enter it again fresh. The last time this happened was a couple months ago. My losing leg was down $10,000, and my winning leg was up $8,000. But I had averaged in too much and I couldn't do anymore. So I had to take a $2,000 loss. On a $70k account that's not so bad. About 2.9% drawdown. But I turned right around and made $2,000 over the next couple of days so no big deal. It really just has to do with how much can you comfortably average in relative to your account size. I never trade Palladium / silver (I only trade Gold / Silver). I just checked the initial margin requirements for Palladium / Silver futures and the ratio seems to be 2:1 (2 Palladium contracts for every one Silver Futures contract). You can use MACD or not use MACD -- it's really up to you. >he risk is that the ratio continues to blow out to say 80% as was the case back in March 2020. Am I heading in the right direction You would have made a lot of money if you kept just adding to that trade every couple of days. People keep asking me about like ""what's the risk!"" and ""When do I take profit!"" or ""When do I get out at a loss!"" And there are no rules. It's all about simply surviving and managing risk. If you are adding too much size over time -- or trying to add size like several times a day -- and you over-leverage yourself then you're going to blow up your account if a divergence continues for like several days or a couple of weeks. But if you just take it slow and make sure you have plenty of firepower to continue averaging in ever day or every other day -- then you can easily weather a period of divergence that lasts a few days to a few weeks. Sometimes trades work out right away -- sometimes a spread takes maybe even like 20 days to work out. If you see that it's not working out fast enough for you -- maybe you just want to exit the trade and then wait a few days and re-enter. It's best just to paper trade it for awhile and see how it goes. How complicated is it to connect IB to Tradingview for example? I never understood the advantage of autospreaders because I just do it manually and never caused an issue. I think it's more for people doing HUGE orders like hundreds of contracts and they need to hide their orders I think. Yeah I am irked to a certain extent that -- technically -- my funds are not insured. Are you referring to SpreadTrader in TWS or an external tool? Curious to try some of those. 200% returns relative to account size. That doesn't mean much. It's income. It's not like you're beating the market over time. Chart and plot the price ratio (QQQ price divided by AAPL) of your two pairs and then use TA on this. It’ll be obvious why you should do this and NOT the spread as a subtraction of QQQ minus AAPL. It’s because a 1% move for each would push QQQ higher than AAPL but the theoretical spread should still be the same. Everything else is risk mgmt. In futures margin has a different function. Margin = the minimum amount of money you need in your account per contract. So 1 ES Emini contract may have a ""Day Margin"" of $500. That means, I need at least $500 in my account to trade 1 contract during normal market hours. If I have $700 and my position is down $300 -- my broker will take off the trade automatically (liquidate me) because I no longer had at least $500 in my account. Initial Margin is what is required to hold overnight. So 1 ES would be $12,100. That means I need at least $12,100 to hold over note. But when I do a spread trade -- becauss of the lowered risk -- if I sell 1 ES / Buy 2 RTY...Individually the initial margin requirement for that is about $26,000. But my broker will reducedl that by about 75% because it it recognizes it as a spread. Hope that helps. It can be, sure. But most traders aren't holding a position until it goes tits up. It's also considered margin when a broker allows you to trade with unsettled funds. So if you close a position and use that money to open another position that same day, rather than wait the 1 or 2 days (depending on the instrument) for the money to settle before using it again as you would have to do if using a cash account. In this case they're loaning you the money early while knowing you will have it when it settles in a couple days. This does put you under margin restrictions such as the PDT rule even if you didn't leverage your positions. Margin is also used in forex to achieve leverage. Without it, trading $0.0001 moves would be pointless. But your profit or loss can still be proportionate to a fraction the money you actually have even if you're trading 100,000 units of currency because the movement is so small. Margin has many forms and uses, not all of which are dangerous but it's important to understand, hit investopedia and read up on em! [deleted] [deleted] I appreciate all these extremely thourough answers man thanks a lot. I'm just a newbie futures trader who only has done paper stuff but I was really struggling with finding a good strategy, but this one looks unbelievably good. (even too good to be true lol) Btw since this works with micros, do you think its possible to do this strategy with a small account, just with the least possible contracts? I'm talking only like 500-1000$ total account value to start with. I know micros have 50$ margin requirement per contract on some brokers, so I would assume it would work, as long as i don't keep my exposure to hours-long (?). You've been unbelievably helpful btw, and I do have a few more questions maybe I might send them by in PM if you don't mind, but for now I'll stop asking them :D. I'm sure you got like 80 other comments to respond to or whatever. When you say most expensive and least expensive, is it in terms of price value, percentage gain/loss, or margin requirement? Thanks for your time, appreciate it. By the way, the fact that you are living your best life trading out of Thailand strikes a personal chord with me too, that was my father‘s dream and he introduced me to the markets back in 2007. He actually got halfway there after acquiring a farm an hour north of HuaHin, built a house on it and connected up Internet etc. living the semi retirement life in Thailand, the dream was earning first world income and living off second world expenses 😂 Passed away 2012 at age 60 from cancer but that’s another story, the vision lives on and I’m glad you’re living proof of it. All the very best in the future! I don’t think IB and TV can be linked as of now, but they have said they are working on it. I guess main benefit of auto spreader is you could have a DOM loaded up for each spread you like to trade and just quicker and easier order entry really. But you got it done quick in TV so seems like you got it down pretty good. Tradestation is worth a look also. They are partnered with Trading technologies for their futures platform and its browser based now and pretty damn slick. I used to spread trade way more I guess I got to a point where I felt like I could make more just trading outright but.... it’s really nice to have the protecting of the spread trade, and you made a great point about the stress levels lol. May have to get back into running spreads. Cheers man The amount you make is based on your account size though, right? Like if you had only ten bucks to put in you'd have made 20. You wouldn't have made a different ratio of returns, unless I'm misunderstanding. Obviously ignoring you can't trade this with just ten bucks I don’t have relevant experience to weigh in. Go with what OP is saying. I am still trying it out. I do zoom out and zoom in but still looking for a short term trade, which was the original point OP was making. What was your trade size, ratio, etc and how did you average in, if you did? What was your trade size? How did you average in? >Btw since this works with micros, do you think its possible to do this strategy with a small account, just with the least possible contracts? I'm talking only like 500-1000$ total account value to start with. I know micros have 50$ margin requirement per contract on some brokers, so I would assume it would work, as long as i don't keep my exposure to hours-long (?). Unfortunately not :( Because if you need to hold overnight, then you need initial margin. And I don't think you could really average in with that account size.. I'd probably want at least $10k to average in up to 3x to 4x with Micros. But instead, when you trade -- bring up all four indexes. If like 3 are going up and one is lagging behind -- buy the one that's lagging. That's still using a sort of relative value approach and a good way to make confident tradinf decisions. But I'd want to use a stop for thay account size. Percentage gain / loss over let's say the last 2 weeks or the last month. [deleted] Would this be possible with equities, buying/shorting ETFs, or even inverse ETFs, like SPY, QQQ, IWM and DIA? You'd have to find the radio's of course, but the idea is the same. Ok ok I understand, although I could just avoid averaging in and holding overnight and stay with the basic amount (but i guess maybe some or most of these only work if you hold overnight). But yeah i forgot about overnight margins. I do have 10k if i really want to but i am a complete noob... so uhh. hmm. I will definitely try this with paper first i guess. And this other idea is great but how do I compare the relative value of which index is up or down compared to the others when they have different numbers for each index? edit: maybe spreadcharts or tradingview can do that actually. Thanks again for all the help dude. Gotcha, so whichever is furthest from the overall trend of the group of stocks? >ETF Im interested in this too, can't see why it wouldn't work there. I'm going to paper trade this with the equivelant leveraged ETFs or their inverse counterparts e.g. buying both SPXL and SQQQ I expect you figured it out but for the benefit of anyone wondering, in Tradingview you can enter one symbol divided by another e.g. for Gasoline vs Oil: 42\*NYMEX:RB1!/NYMEX:CL1!" Added one more,1995,https://i.redd.it/zbx4sh06ka771.jpg,"Mine reads "" the trend is your friend"" Trust the Process! Isn’t averaging down a good strategy? Serious question and am looking for some insight Dude thats the one i added today also I have a similar one on the inside of my front door, it says: Check the oven is turn off. I really appreciate everyone's comments! I doubt this one will blow up as much as the previous post. Honestly it was a bit of a joke with my wife about finding ways to always remember my lessons. She said I'll remember whatever is in front of me... so :P The last thread had a lot of great comments, and hearing people's strategies, and disagreements with my own rules, was really encouraging! I can't tell you how to trade (I'm only six months in myself), nor can I tell you if my rules will work for you. As evidenced by the prior thread, they may even work against you! Anyways, I only trade the first hour, and the last 30 minutes. I primarily trade SPY and SPX options with a 0 or 1DTE. The volatility and focus required is quite high; it honestly is a fun rush. This is a hobby and I've learned quite a bit in the past six months. There's lots of great resources to learn too, InTheMoney on YouTube, the Mastering the Trade book is a requirement, and of course all the great discords and sub reddits out there. Also some of you asked about the Rubber Duck, may I present you with: [https://en.wikipedia.org/wiki/Rubber\_duck\_debugging](https://en.wikipedia.org/wiki/Rubber_duck_debugging) I'm a Game Designer so this is a big part of my workflow. Hell, he even helps me with trade ideas... Good luck out there! ""Buy more sticky notes"" 🤣👍🏼 ""Obey stops"" This has been a hard one to learn to stick to for me. I average down. I call it scaling in :D But only on high conviction plays. I cut losses when day trading. Doing about 50/50 day trades / swings. Don’t be greedy You only need 1. Don't fight the fed. One stock that I didn't set a stop and then got called away from the computer. It went bad. It turned into a 50% loss. It is only a few hundred dollar position, so not a big deal for me. I've left that stock in my account so I look at it ten times a day every day. It is my reminder to not screw up Hey /u/daraand, I see you've added another sticky note since your last post. I'm not here to tell you you're doing anything wrong so please don't take it that way, but I'd like to reiterate what I pointed out on your last post for anyone reading to be aware of. That's a clinical sign you *may* be developing a gambling addiction, please be careful. Specifically, if those ~~3~~ 4 notes are it, then there's probably no problem. If, however, you find yourself writing more and more of these types of post-it notes, I highly highly recommend you take a break from the markets for a few weeks, and reassess the situation. Because at that point it can spiral out of control into self-doubt and revenge trading, it can become something you couldn't expect and can't control. In gambling addicts this has been observed as a way they compensate for their compulsive tendencies in hopes that it will help them avoid those tendencies. It's a way they normalize their addiction, to continue believing they don't have a problem. It's important to be mindful of how we try to compensate for our compulsive tendencies so we don't normalize, and therefore exacerbate, them. Be well   Gambling addictions are very serious. If anyone reading this may be suffering from a gambling addiction I'd like to assure you that recovery is possible, and if you would like to talk then please feel free to reach out to me through dm any time or contact the National Problem Gambling Helpline (1-800-522-4700) which is available 24/7 and is 100% confidential. Click [here] (https://www.ncpgambling.org/help-treatment/chat/) if you'd prefer their website chat page. The organization also offers [a comprehensive list of resources](https://www.ncpgambling.org/programs-resources/resources/) that can help an individual with gambling addiction. Look out for your homies y'all First one got me today Oof that last one got me. I’m always fighting the trend. Lost 600$ this month that way. I need that ! Don’t be afraid to go short! Check check and check… I’ve violated all of these and had to write them down as well. i prefer “dont pee into the wind” “Don’t use Robinhood “ At first I read it as, ""Don't don't obey don't fight"" ""Chase avg down stops the trend"" New to trading very new what is aug down As a long hodler. I don't understand these words . Oh no, did you try to short TSLA at like 680 lol? Mine says “don’t forget to wipe before you pull up your underwear” You are once off the weak hands we are diamond hands we don't take losses. We buy high we hold we buy again at very dip. Don’t trade If you need sticky notes you aren’t ready to be trading real money. Risk is your friend Why not average down? I average down constantly…. Just curious if I’m doing it wrong Whats with your screen? Tough day huh All excellent rules. Why is averaging down bad? Only way I see it as bad is if your trying to trade on the micro. Why not avg down? Sorry I'm still learning Don’t chase and Don’t fight the trend seem counterintuitive. Can you elaborate? ADX go brrrrr Just master “diagonal option trade”,,, you can easily make money from any situation even day trading. 1- Buy an option with expiring between 90-300 days. 2- make sure the premium + stock price is in the money. Preferably lowest end of option call+ highest premium (make sure the stock is a value stock with High IV. 3- check Historic volatility, buy when it is lowest. 4- try stocks with weekly expiration. 5- sell same stock with expiring same Friday. You can immediately sell same option for anything between $35c-$1 guaranteed by Friday. 6- sometimes your short leg will get in money before Friday! Bonus. If the short leg gets green it means you are in money. Buy and pocket profit and write another call once your long gets green. It seems roller coaster but worked perfectly fine. 7- On Friday, there is only 2 ways you make money, either short leg price increases, your position get sold - premium you pocket. Or your short let (the option you sold is not in money you earn the premium you write another option for next week, same process. There are some technicals High Delta is always good for this strategy. I have done stocks entire my life, easiest way to make money worry free. I guess you need level 5 to execute the strategy. Good luck! Sometimes by averaging down do help to get out of the bad trade without losing money or just a with break even. If I followed this I'd actually make money. True story. I currently have 15 post-its on my computer and one large bold font printed out word doc stapled to the wall above my desk. Added one today though: ""Don't Predict, Respond, Be Wayne Gretzky."" Reminder to trust my setups and wait for them to be absolutely, algorithmically confirmed before entering a position. Don't go chasing pucks. It’s all good till the doji at the top comes in ! How about ""don't trade emotionally"" I used to have one on my screen: max loss $400. What do you mean by “don’t chase”? i have like 50 of these all over my workspace. great reminders Please help me understand what does don't chase mean. On the other hand don't fight the trend is nothing but, respect the trend and don't go against it. Averaging down has saved me from losses and increased gains more times than I can count. But I’m a dumb ape and chewed off some of my fingers and foot-fingers, so can’t count very high. Great advice! I have these written on the top of my whiteboard. Don't fight the trend 💯 I have notes like this too kek When in doubt pull out. This is the way Fear FOMO Why “dont avg down” ? I did all those and now I’m 20% down on my capital. Averaging down would have put me at break even in retrospect. Selling at losses because of stop losses was the wrong call for me. One more golden rule for crypto traders I think is that no matter how much you love your coins, a bear market always requires a stop loss. You forgot one. ""Buy high, sell low"" Stop-loss us for weak hands I average down and it helps me a lot. I prefer this over adding a new screen Isn't ""don't average down"" and "" don't fight the trend"" pretty much the same thing in this context? 🤔 Edit: I changed my mind. If ""don't chase"" and ""don't average down"" had a baby it would be ""don't fight the trend"" That is wrong... the first rule of daytrading club is you don't talk about daytrading club... Haha, Don’t fight the trend. Absolutely this. Learned it a very hard way. Charts are way more powerful then fundamentals. Can someone explain to me why shouldn't we avr down? Tank u Don't forget, ""[Wear Sunscreen](https://www.youtube.com/watch?v=sTJ7AzBIJoI)."" Trend is your friend Mine just says “Yolo it all” Trying to counter trend trade is like swimming upstream. Great way to drown VXRT Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok Nok nok nok nok nok nok nok nok nok nok I broke rule #1 today 😭 Yeah brahhh them GOLDEN rules This is amazing Goddammit you’re a genius mine is take the fucking trade Looks like you punched your monitor. I know it's a wallpaper though. Lotta “ don’ts” add more “do’s” Seems lot of people are day traders here and all millionaires 🤣🤣 No FOMO The trend is your friend until the end when it bends. Yea i mess up on this. Or should I say miss. Just because a stock is up 10% doesn’t mean it’s too good to be true to keep going. See what the trends are. Price and volume is king Mine says “call Bob at 11:30” Until it bends Mine reads, ""Learn how to find the trend"" Not for day trades when you wanna be in and out. It can be a good strategy if it's a strategy. If you're trying to catch a falling knife hoping for the best, it's gonna eventually end in disaster. For example, today on TSLA there was an initial down move into support, but after a small pop it wicked down into a lower but actually stronger support. The risk reward was actually better on this second dip so adding to the position was reasonable. Now some will say that mathematically it is better to cut the whole position and buy in lower with bigger size, but real time that isn't always practical. I think when most are saying average down, they're referring to adding to a position when a thesis is invalidated. If you're doing this, consider if the reason you're doing so is a psychological need to be correct, fear of making a red trade, keeping a winning streak intact, or some other neurotic tendency. IMO averaging down is the wrong way to think about it. You are opening a new position, assess it on its own merit. The fact you already have another position open previously at a higher price is irrelevant to that decision. Not for day trading. Tight stop losses are your friend. I've found, personally, it's great to average down for a swing that's taking longer than initially planned lol. At some point, you'll end up throwing more money onto a dumpster fire that never recovers. I have done this. If a trade doesn't go as expected and your plan (never enter a trade without one) no longer applies, better to get out. You average down if you’re holding a position long term…if you’re day trading you’re better off not averaging down because you may average below your stop…which may or may not be in your plan By itself, cost averaging is neither good nor bad. In conjunction with a zillion other factors, it acquires good or bad characteristic. Long ago, so long ago, when internet was in its infancy, Yahoo was the king of search. Its stock price reached $350 or so. Analysts kept on pouring numbers in $1000s for it. I feared I already lost opportunity as I was watching it in $100s. I finally made a decision and bought it around $400. It went up to $420 quickly. Before even I noticed it started falling down. It went below $400, then to $350. I averaged. It fell to $300, I averaged. Then to $250, I averaged. Then it fell to $100s and I already ran out of money as I put everything in it by now. It eventually ended up around $20, when I sold. I had to get out of the market completely for a decade, before I recouped and had enough savings to invest again. What went wrong is that I had no clear understanding of why cost averaging works and why it doesn't work. Cost averaging works when you see a clear and un-breach-able support downwards (or resistance upwards when shorting). The probability of each support level downwards has to increase by 1 SD. Then you can add more. While doing it, make sure you have enough money to add more at the next support level (generally, equal to the previously invested amount in it). If not, you can't average. Have enough money to average at 3 support levels. That means, your selection of stock should have some stability (like AAPL) and not like TSLA or NVDA which break support and resistance levels easily (10% movement in a day or two is crazy). Another point you should note is that in addition to observing the support level, you should make sure the stock has moved enough to deserve averaging (1% or 2% for AAPL, not like 0.05% which is not averaging but simply adding more near the same price as before). Cost averaging doesn't work in all other cases. Your strategy, stock selection, company fundamentals, news, sentiment, macro economics, government printing money, and your wife/husband, and lot of other things have influence on whether cost averaging is good or bad. So observe all of the other before using cost averaging. It is neither good nor bad on its own. Depends on your strategy and timeframes. Day trading and scaling. Probably not. Better to set stop losses Swing trading and long term investing then it really depends. Assuming you're trading a thesis...say an RSI divergence, it is more acceptable to avg down if your thesis is still unproven, i.e. the divergence still exists and there's viable support to the price level. It would be a terrible idea to avg down if your thesis is proven wrong, say there is no longer a divergence but a new RSI trend. As a swing trader, averaging down is my friend. But also that goes hand in hand with buying the dip, so either way it is a good strategy. From my experience it’s only a good strategy if it’s a long term hold. Averaging down during short term plays, such as an options trade, most of the time the stock will not have a sharp reversal and the strategy will not go in your favor. It is a great strategy! Here's my reason why I don't do it: [https://www.reddit.com/r/Daytrading/comments/o7alj3/added\_one\_more/h2xrhik/?utm\_source=reddit&utm\_medium=web2x&context=3](https://www.reddit.com/r/Daytrading/comments/o7alj3/added_one_more/h2xrhik/?utm_source=reddit&utm_medium=web2x&context=3) Yeah it is called pyramiding and you should do it only if and when you completely understand your strategy, otherwise it's another ball to juggle. Depends how long term you are. If the name is Apple, Amazon, and it's a temporary move in the stock and you're using retirement money - yes, DCA all day. If it's short term, use stops and don't try to catch a falling knife. Mine says wash the cereal bowl or it will be full of ants in exactly 13 minutes. [deleted] Why do you not average down? Look up Secret Mindset if you haven't already. His emphasis on confluence is priceless for beginners! What do you mean by obey stops? Could you elaborate? Basically, “Average down” is when you buy at one price, but the price drops below the purchase price, so you buy more at the lower price to bring the overall average purchase price down. TSLA is a fun thing to scalp, but no, not today. I've been on SPY/SPX for months now. If you need to say unsolicited dickish comments you aren’t ready to be socializing with real people I have a piece of paper that has my rules on it. I also have REAL as fuck money. Of course! I trade with Bolinger Bands as a core piece of my strategy. If we’re in one of the channels and moving in a direction, then, don’t try and “find the top” or “the bottom”. Sometimes SPY/SPX will stick in a channel and for me it is best to go with the flow. Get in late. Get out early. Make profit while in the trend. I have eaten many knives trying to find the top of an upward move or the bottom of a declining move. Instead, just trade with the trend, ideally as it’s starting. Ughh i gotta learn to do that.. and more Keep adjusting the stop losses Ofc Excellent explanation, thanks. Actually good, actionable advice on this sub?? I don't believe my eyes. Yes, thanks for this. Just the idea that I might somehow redeem myself or salvage a bad entry simply by buying more at a lower price *while I still have a bad position open* seems foreign to me. If I screwed up and bought too high, averaging down doesn’t change it. I’d much rather get out and start fresh with a new position after regrouping. Love this explanation, purely quantitative on each individual move - ignoring sunk cost. Love this. When that happens a day trade usually turns into a swing trade. Depends on your trading plan, but it can work out for the best. Others prefer stop losses and to move on to the next trade. DM some stuff to look up! I’m interested. Fr and consistency profitable You know, this was the most asked question in the last thread and it’s a good one to ask. To be upfront: this is just my small slice of experience and I’m no where near professional so take this with the tiniest grain of salt. It just is a losing strategy. Where does it stop? At what point is down enough? There is no guarantee that anything will go up at that moment or in the next few moments. With 0DTE options you are constantly fighting theta decay. Unless a big trend reversal occurs, what was once a peak premium price that you hope to sell at is now farther away. The underlying will have to move even higher than before in order for that premium to reach that price level. In my journaling I found one of the biggest, the four biggest mistakes in fact, was averaging down. There is a direct correlation between averaging down and that trade being a losing trade in my journal So. No averaging down. Miraculously I had a high win rate today and yesterday lol Used to set mental stops and then would not abide by them. Yes it is, when it runs, it really runs. Been on it for the last year+, that trip to the 800s last year was amazing. I went in it out taking profits up to like 815 then i got scared for a catastrophic reversal. Let us know how well socializing works into your trading strategy. Ha. How much money are you trading with that sheet of paper full of reminders to tie your shoes and put pants on before you go outside? Can you describe a bit more your BB strategy? Maybe a sample trade? I am experimenting with a trade bot i build and next algo i am planning to build will be based on BB Buy the close, sell the open. Trust the gap up. I have come to the same realization. When I’m in a losing trade, I figure “Either it reverses and I’m making money again, or it doesn’t and I lose a little more” If the price reverses I’m still happy. When I double down, then sure, I’m still happy if the price reverses, but if it doesn’t, I’m absolutely miserable Enough. No one is going to tell you their portfolio size to win an internet pissing contest. Just be aware that there are plenty of people that have these reminders that act as physical barriers to haywire moments. I solely write things down and use a calculator and I'm not an old man, just been doing this long enough to know what works for me. This dude. I love waking up to limit sells getting filled and going to the beach lmao. can you do swing trading from another time zone? market opens for me at 9:30pm and closes at 4am so it’s hard for me to buy just before it closes Thank you! Needed to read this LMAO that was the fastest backpedaling I've seen on this board. So you don't trade shit, and you got called out for opening your big mouth. Has it occurred to you that maybe your size would be larger if you actually committed the *absolute most basic safety principles* to memory? Or does losing ""work"" for you?" I hoped I could try day trading to make some money while applying for a new job... yeah.... about that...,1973,https://i.redd.it/0u8l631mn8j61.png,"Daytrading without years of EXP is Russian roulette Bro paper trade first. Damn dude.... you'll be okay but you don't make it into the MLB without going to batting practice. I urge you to use a simulator to practice on so you don’t lose any money and end up just hating trading all together. The people in this group will all agree when I say trading, especially day trading is a skill... a damn difficult skill. Learn as much as you can, try different things out on the simulator, use different strategies, lose your ass! It’s fake money so it don’t matter! Once you’ve got confidence in yourself, your knowledge, skill set etc, then move over to a real trading account. I’be spent months on simulators learning as much as I can and I’d still consider myself in the crawling stage trading. The experts in here are smart as hell, know the game, have been at it for a while, and have put in the necessary hours to make day trading a sustainably profitable side hustle/ or career. Never change your investment strategy before you're done with the current one. The most loss is by investors who don't stick with their strategy, they jump from one loser to the next until they run out of money. Just wanted to clarify some things. I'm not trading because I'm desperate for money. I have an amount invested that I am prepared to lose and have enough in savings to last me until I get a new job. I had hoped I could make a little money off day trading to justify extra spending. As a whole I have still made money off the stock market. I've been investing for about 6 months and before day trading had made a 60% profit on investment. Now it's down to 40% profit only. I've learned a lesson about the volatility of the market and taken a hit that was responsible for me to make. Hey bud, its highly recommended in your journey through day trading, that you understand the fundamentals behind Candlesticks and some general signs that the patterns convey. Same boat you man...I feel it. Lost all the money I made in last 6 months. At least I'm not negative from what I started So hows it doing to look for a job while looking at charts everyday? Been there done that. Dont forget to actually look for a job in the process! Just my 2 cents. 🤣 it happens Would you be down anyway, considering the dip? You probably have fucked up, but nearly everyone is red for the past week or two... Nah you’re fine. Plenty of people’s accounts look like that. Tech got destroyed this week I would say trading because you have to or think you are guaranteed to make money is the worst time to do it. That’s probably why so many people are saying to paper trade but even then there is no better lesson than blowing up an account with your own money. I’d recommend studying candlesticks, candlestick patterns, support/resistance and supply/demand. Learn about risk reward ratios and you will see how you can be profitable being right only 50% of the time. Focus on your percentage gain and not the numbers. Compare it to how much you would earn in a savings account, often less than 1%...compounding is your friend! After that, study charts and backtest the strategy you want to use. If you do use indicators try to keep your charts as clean as possible because they often send conflicting signals and can even make you doubt your trade. I’m not the most profitable trader but I have been working on tightening up my losses and that itself has made my few wins that much more valuable. Patience and conviction are going to be your best friend. I’ve alerted my friends to tickers that ran 100% without me because I had no confidence or patience. At the same time, be right or get out. Stop losses are your best friend. Protect your damn money. Hope you have better luck as the markets hopefully recover from here ideally! Only path you have now is up Guess I picked the wrong week to stop sniffing glue... Learning to day trade is expensive. Even more so when you keep eating red and green crayons. day trading on robinhood??? A mix of swing trading and some day trades work well for me. > Robinhood I wouldn’t day trade on robinhood or I won’t use robinhood at all Day trading on Robinhood? Interesting.... I never bothered with paper trading. Watch the charts for a while and make some smaller cash trades until you sharpen your skills. My account looked just like yours when I 1st started, then I vowed to trade safe and small until I got back to using house money. Now that I'm up,I'll risk more sometimes, but my average trades have been safer and im winning 85 percent of them now with a smaller profit. Even on all these red days, you can definitely still make money daily. Yeah I lost 17K my first year. You need to practice a lot to be good at day trading. Practice in a paper account until you prove you can be successful. I’m sure that’s not what you want to hear but it’s the best advice you’ll get. Looks like someone watched a couple WT vids and got all excited. I’ve chosen the wrong day to give up crack cocaine hope is strongest tool ​ keep wisely Learn on a paper trade yes it won't feel as real money but trust me you'll be disappointed to lose your paper money too. There are things you are not aware of as an amateur trader paper trade will help you discover those things much better because only a calm and playful mind can learn. The emotions that come with losing real money will not let you see those things. This is not to say real money trading won't teach you, it'll but it will be a different lesson. So dividing those lessons getting your edge on your strategies on paper money and the rest on real money is better than to go through it all on real account. I'm losing about $20/day from my day trading - and that's from a $600 account. (now $500) Im wondering how long I keep saying ""I'm learning"" and when I just decide I don't like this game anymore. Can't forget you're day trading during a market pullback. Don't be too hard on yourself. Keep at it. You'll figure something out eventually. I think you should reexamine your strategy. Long-term market downturns shouldn't fuck your daytrading strategy; in fact, a solid daytrading strategy should be *more* insulated from downturns like that than other long-term investment strategies. For comparison, I've been daytrading a few days a week since December. I'm playing with a tiny $50 account, but so far I've got an 80% success rate on profitable trades, and my account is up 8.3% overall. (I also made like $10k in my $100k papertrading account shorting AAPL, cuz I got lucky and accurately guessed this tech bubble pop was coming lol. But I would never make a trade like that irl, even if I had the money.) Dude day trading is a skill that must be practiced first. Absolutely pissed at myself that my friends convinced me to get into swing trades. I’m a day trader so I usually never hold stocks overnight but two weeks ago my dumbass friends who joined trading in January convinced me to join their swing trading discord server. So I said fuck it why not. Bought some stocks to hold through March and guess what. All down 10-30%... I’m never trusting anyone but myself ever again. Robinhood is such trash how can you have no y or even x axis on a chart like this. Also not good for day trading, at least use thinkorswim by TD The current system is designed to destroy people who are just getting started. Because of the PDT rule, If you don't have $25K for unlimited trading you're constantly trying to eke out as much profit as possible with those few trades you're allowed. It makes you a shitty, risky trader. I would avoid setting stop losses until well above my entry price to avoid immediately tripping over it, and then wait way too long to bail because I didn't want to blow the chance of a reversal. Hopefully you’ve studied a little bit? I’ve just recently gotten into it. But I read several books, took a free online class, and watched some great YouTube videos before actually doing anything. Also started watching Bloomberg on roku to get accustomed to the language. It can be done, just takes some work. You don’t just run up in the bitch guns a blazin. That looks like a gold mine to a day trader lol This is the way. Making money day trading? HAHAHAHAHAHAHAHA. Good one. Day trading isn’t something you just jump into. 99% of day traders lose money and are never profitable. Use simulators, paper trade, practice, practice, practice, and even after all of that, you’ll probably still lose money. I day traded for a brief bit, and honestly, I did turn a profit. However, it was extremely small, and it just wasn’t worth the stress. I’d rather gamble it all in crypto than to go back into that mess. Let’s tag all the should I quit my day job right now and yolo day trading with all my savings people. Day trading on Robinhood was your first mistake and kinda shows your lack of research to be completely honest. Not trying to be disrespectful here, but daytrading is definitely not a quick buck kind of gig lol. To be fair, I blew up my Robinhood account on meme stocks a few weeks ago so I am mot one to talk about not doing research I'm sticking entirely to swingtrading. Every time I try to daytrade I end up winning at first then losing eventually lol How many trades was this? You either make money or you learn something. It takes years, daytrading is hard! “Day trading”... with robinhood... u dumb bitch I see some potential. Looks like you clawed your way back up from a deep hole. Keep it up and stack them tendies brah This ain’t a game [deleted] What do we say to day trading today.... Hopefully you learned to do your homework before starting in on new things. 90% of day traders fail, and it's because they jump in without knowing what they're doing. This sub is home to a lot of them, lol. Haha I did this same exact thing. I’m down all my profit for the year now. Why would you try with real money? 95% of your time should have been studying and not actual trading. Maybe try shorting Its easy to pick flowers in the spring and hard to find em in the winter. But they are there. Day trading is not for the faint of heart. And skip it all together unless you know what you are doing. Big wallet. Find small returns. Go big. Or skip this strategy and go longer plays. 1M is too short to infer anything at all. Your timing is excellent lol. 90% of day traders lose money Who’s going back to work? Paper trading isn't going to help a lot if you don't know a thing or two about trading setups. Watch some youtube videos on technical analysis, until you get it; otherwise, there's not point in trading at all. If you don't why you're entering a trade, other than ""I want to make money"" then don't enter the trade. Get the skills then make the Bill$ Zoom out yea..... that was about spot on for me too I paper trade and I can tell you my emotions are the same whilst trading with real money lol. I get angry af at first when I’m losing on a paper trade but I get over it quick. I do well paper trading though. Not so much of losing anymore I just put my first real swing trades last Friday. One of em was on WKHS. Haha. Haha. I wanna die Sending positive vibes homie Me to brother try day trading companies with a sma 200+ whatever you lose in profit you’ll eventually get back with a return Looks like mine Try combine trading here is $50 off https://app.topsteptrader.com/refer/sign-up/c07dfe Here you can trade with emotions while securing to not lose money and you will improve your skills. So it was you... please leave ahahah Try trading with small positions, ie $100 positions. You can use all the rules in your trading plan. This is better than paper trading. That shit sucks Was the market red for you guys today? I switched away from day trading and I mainly do short term swings since I’m usually working during prime day trade hours and I make way better money now haha. Press f to pay respect Yuh don’t day trade on Robinhood haha. Did you set limits? Yea. Total buzzkill for me but the education is legit. You feel ever dollar going so much further than those 4 years of college though. This time it’s important! Takes experience and time. Take classes to learn basic strategies Easy game! Same Yaa these last 2 weeks have been very rough Yeah day trading is gambling don’t care what anyone says. Have rules and stick to them no matter your emotions triggered Buy Psychedelic stocks and just sit with them. You’ll make it all back. r/PsychedelicBets. Thank me later ;) I feel you... But with no pain there can be no gains! 💪 RIP. Unless you have a Bloomberg terminal and high rate data feed, just trade 1-3 month time horizons. That's about as short term as retail investors can/should aim for. thanks for showing me the ropes No successful day trader hasn’t failed many times first. Did you really expect to make money off the bat? The market will take your money before you succeed are you strong enough to make it to the other side Without Vwap, avg daily, avg vol, yesterday’s high, or other trend lines drawn, were you just hoping for ABC, or some momentum breakout? Is this the actual chart or just a joke? Lately I have been enjoying waking up and not automatically in the red. Honestly that's why I'm actually grateful for the PDT rule. PDT rule forced me to study the market for years while I saved up $25k, to take it way more seriously. If you take it seriously, you arent daytrading on RH. Sounds like fun. What do you win? Even with years of experience it is Does paper trading work tho? A huge part of this is nerve and emotions and paper trading doesn’t let you experience that. Only good ol hemorrhaging money hones that skill /s (but not even really sarcasm tbh). [removed] What is this gay bear shit. Diamond hands or GTFO [deleted] “It’s fake money, so it dont matter”. Then what’s the point? Train like you fight. If every cent doesn’t matter, then you’re not learning as much as you can by paper trading. Trade it like it’s real. Because one day it will be. And that day it will matter. We can not control the things of which we are unaware. And if you havent allowed yourself to experience the emotions that go along with the rise and fall of the market, no amount of paper trading will keep you from failing. any good simulator recommendations? been trying to find one for a whumw Looking at his chart, I’ve pointed out where the world was willing to provide general support, but absolutely resisted any day trading antics. A bad time to go all in, for sure. https://i.imgur.com/iWtEJBJ.jpg =)))) I lost a lot during my first two years of serious trading. I tend to slowly climb up until getting fucked up big time, rinse and repeat. Completely dodged the market crash last March and rode with the bull market. I tend to be careful now and take smaller risks because I want to keep what I earn and don't want to lose the hard-earned money that took me months to accumulate. And I would like to add if you're going to trade the markets it pretty much has to be a full-time job. A couple years ago I was able to use ToS app to make money while at work. Yet it also cost me money when I wasn't able to use my phone to make trades. I also recommend having two accounts. One for trading, maintain $2k if you can. And one, like RH or Webull, for investments. Its the hope that kills you... I don't believe that but just learned that phrase from watching Ted Lasso This is maybe not typical for this sub but what worked for me was switching to trading weeklies. Normally you can inverse the open, or play a break over premarket/daily high or low for a nice percent or so move. With weekly options you’re pretty much guaranteed a 10% return on that. Later in the week gains and losses are amplified too cause options are priced by time to expiration. If you’re wrong you have to decide whether to average down or cut your losses though which can be stressful No one is 100% profitable all the time, the trick is in sizing positions, you don't want to be down more than 40% of your portfolio, not because is painful but because it gets matematically harder to get in positive again ( less funds = need bigger gainz to cover up). So always do proper sizing. That said I'm swing trading right now because I lack the experience for day trading plus my broker (T212) is an absolute joke and I'm just expanding my portfolio so I can migrate to a tool that fits my needs better. Umm swing trading is definitely a lot easier to profit off of then day trading. You probably didn’t close out your positions when you had gains and got greedy. Blame no body but yourself, Swing trading is actually easier than day trading I love when people think the 25K would magically make you a better day trades. Guess what. It makes you lose money faster. What a champions mindset! Only people in losing positions say this when they are to emotional to do their work the way they should Everyday <3 Green candle means go all in! We'll have to keep a running tab on his moves so we can inverse them [removed] What I found with the pdt rule is that I would end up sticking into a trade too long hoping to maximize the swing since trades were limited and using larger positions than I should have. Now than I'm over the 25k I find myself using smaller sizes and not worrying about if I get out of a good trade earlier than the very top. I dont ever sell if it's a losing trade and just let it go to my stop loss which I also size smaller now. I put $100 into an Ameritrade account to practice swing trading. I haven't withdrawn a dime and only have sold 2 positions so far. Anything dangerously stupid I should avoid? I don't care if I lose the money I'm wondering about unforeseen fees/taxes. Well....millions.....or an account that goes to 0.00 [deleted] Another good way to get a feel is to start with a very small size. I quickly learned that paper wasn’t going to cut it for me so I started by trading with one share each time and slowly worked my way up. Also paper trading you are always filled...not 100% true with real trading. Absolutely. Use that or a fake trading app to see if you can make a profit on there before risking your money. Also, A risk management strategy with stop loss orders built in is essential to not nuking your account. In my opinion no it doesn’t. Either emotionally or technically. I’ve had issues with think or swim not executing paper trades when I know for a fact the same trade in a real account would execute. Also like you said your nerves aren’t in it on a paper trade, even when you’re trading 10$ you can feel your blood surging through your veins waiting on it to hit your exit price. You just don’t get that with a paper trade. I have a rule, never buy at the open wait until 930 and make sure you watch your moving averages for the week or month to see what kind of trading pattern you have first. Some of the stocks go up after 930/940. I never trade on a rainy day either. Rainy in New York City that is. It’s funny because some of the main advice I’ve gotten/seen is to not bother wasting time on paper trading because it won’t do anything to prepare you for actual trading. If you want to get a better handle on the programs or tools you’ll be using to trade that’s what paper trading is for. Yea, definitely. I'm up 224% on my paper trading account and down 70% on my cash account. Your livelihood and emotions go hand in hand. It's all about having a plan around how much you are willing to lose before your next move. There’s many reasons why 80% of traders lose money. One of the reasons is that they go live too early without 100% trusting and proficient with their strategy. And I’m not saying ‘try strategy for 1 week make money ok go’ I’m talking recorded journaling on paper with uploads to tradervue checking your drawdowns and psychology if it’s compatible with said strategy. You do this for 6 weeks with metrics such as accuracy and profit ratios in good measurements. If you don’t know any of what I just said, you’re not ready I don’t paper trade. But I have a kraken account with 200$ in it. I’m doing small trades 10-30 at a time. I’m up 5$ right now. When I paper trade, I'm a stock trading genius. When I trade for real, all I'm left with is paper. Yes and no. You certainly don't get the emotions. But it depends on how you use it. I use it to test strategies, especially when it comes to positions that are failing. Anyone can trade a winning position but what do you do when things head south as they have been for the past few days? How do you trade that? Or do you stay out all together? So days like the last few offer me a rare opportunity to fine tune exit strategies or see what went wrong. I also use it to test strategies I want to try in the future so I can observe the mechanics and come up with rules I'll use in live trading. It helps me remove the emotional bit when I trade new strategies live because I can just ignore the fact that it's real money. I'm miles from where I was emotionally even 5 years ago. I can now look at a sea of red and shrug. Either it will go according to plan or I'll start with my protocol for failing positions. As it stands today, all i have are shares of stocks I really believe in and am willing to be in long term and one PCS - I closed everything else last week. For the failing credit spread - I plan to roll out a few weeks. It bottomed out so fast I couldn't do anything about it this morning. It happens. Of course, I may let it go for max loss which means no touchy. So I'll watch it for another day or two and decide if I want to just let it die or try to roll it. It's a pretty small position so either way, I'm fine. These things happen. You definitely have a point. The two emotions that you have to master are fear and greed. With paper trading you don't really experience that. It's something that only comes with live trading Math doesn’t lie. Sentiment is a game. Break down your thesis into what is fact and what is smoke. Fact will win every time. No company doing well fails. Most companies trying to turn things around will fail. Math doesn’t lie. Yeah I heard a lot of people say that. I haven’t moved from paper trading yet, but for me personally I get “nerve and emotions” while doing paper trading since I often am a perfectionist in the bad way, but it seems to help here. Also, using a rigid trading strategy for exits hopefully makes it more helpful since i dont allow myself to hold longer than the chosen exit strategy. I for one cannot practise with demo accounts and whatnot. My brain just stops processing cause I know there's nothing at stakes. Trading a small portfolio has done wonders for me while learning to trade. I agree but don't use emotion. No emotions. Logic. Logic, facts, and math. Emotion is bullshit because that dollar in your pocket damn sure doesn't have any. I upvoted you because I made over $300k on GME because of unrealistic expectations like this one. If you're being sarcastic I offer a golf clap. If serious, I offer my capital gains tax for your bailout. Thinkorswim has a paper trading ability, and imo is already the best tool in the industry for trading anyway. Webull is good. Others like tradingview just let you place huge positions so it's not realistic tradingview is pretty good Paper traders could give the wife or gf or a charity $10 for every week they are down on paper trading. That would put a little risk flavor in, without taking real loses. Well yes trade like it’s real money. I meant IF he ends up losing it all... it isn’t going to hurt him financially > Train like you fight. Yeah but I don't fight. Because I'm not twelve. Yeah i don't get that. I treated it like a game ans the money was the score. When i lost, i took it personal and hated loosing my money. Up 65% four the year Yup. I learned with small cash accounts and blew up 2 times before consistent it’s just a reverse head and shoulders. should fill out soon... I guess you have to experience it first hand to learn. I waa living the good life till all my profits were given back. Will have to be more careful in the future. It’s a preference I said I’m pissed at myself so yeah I’m blaming myself. And never did I mention one was easier than the other? What’re y’all reading It’s not about the money.. any margin account can still make ridiculous heavily-leveraged bets. The more trades you can make, the less precious they become. You don’t have to white-knuckle through after hours just to stretch that trade to the next day. Hell, program an algo for it [removed] You wanna watch out for wash sales. If you sell a stock for a loss you have to wait 30 days before rebuying If you lose it all within the year you owe nothing up to $3k. You pay taxes on every gain you realize, once you pass $3k in losses you still have to pay taxes on your gains even if you lose those gains later. Wash sale losses and gains dont count toward your 3k loss allowance either, so if you lose $100 on MSFT and gain $100 on MSFT that same month, you are at a net loss on taxes. Way out of that is mark to market designation. Other than that I dont think there are any unforseen taxes. So what you're saying is ... potentially unlimited upside and strictly limited downside? EZ money! 0 is only second to worst case scenario. Margins, -100%... Or worse. Depending on how much were playing with here. I'm currently paper trading for practice. Agree the emotions are definitely decreased but it's good for a couple things. First, if you can't make money in paper trading then you'll never make it with real money. It's invaluable for getting to know the software and get out quite a bit of mistakes with the learning curve. Had a few whoops moments that were purely technical. The biggest thing here though is that whole day trader limit crap. I'd love to do a bunch of single stock trades to get better and not risk much. But you need 25k before hand or you only get 3 day trades a week. And that ain't gonna do crap for you. Actually I find it completely the opposite - using TOS paper account, my orders sit there FOREVER and never go through. After power hour? also for working out your strats, u want to be robotic in your trading b4 putting $ Yes I know. And I’m saying paper trading doesn’t help with that because it’s not real money so you THINK you are being emotionless until you start actually using money and then you realize you aren’t. I didn't experience much difference in emotion. But I did find out that my strategy was not consistent. I got real lucky on my first few trades and thought I had it figured out. Blew up my account. Went to paper trading. Wish I would've started with paper. Im going to try it again with a micro account and penny stocks. Me too. I skipped paper trading and just made some mistakes with a couple hundred. Figured it out over the span of a few months and then scaled up my operation. Zero logic, zero math, zero facts. This is /daytrading, think you are talking /investing. What is the P/E? I have zero interest. Emotions, 100%. The $$$ in your pocket has no emotions, but you do. Lots. :-) SLAM above that Ichymoku Cloud, I'm in 100%. The factory my have burnt down, orders are less than 0, and the CEO is in jail for murdering his partner. I'm in 100% if we are above ""The Icymoku."" :-) \*\*\* You need to have 500.00 sitting in your acct to unlock real-time quotes not day trading.... Swing trading yes.... WeBull is meh. No where near what you need to day trade. TD Ameritrade.......or if you want in and out at break neck speed look into ""Lightspeed"" That broker is offshore and has direct access routing..... Way to go trying to turn something into a literal statement that it clearly was not intended to be. Pussy /s lol Okay based of your original comment I know you haven’t day traded or swing trades long. Good luck! Been swing trading for 10 years and I consistently buy within 30 days and then end up in the green. Remember you are just adding you loss to the base price. If the stocks takes off you still make money. Forget wash loss if you think you’re going up. Don’t wash sales carry over into the cost basis of the next trade? precisely! You want to start HUGE!!!! all your savings and maybe take out a couple loans too! GO BIG OR GO HOME Amirite? ​ for those not sure I am completely joking. The opposite of what I said is the truth. Start SMOL! lmao, spit a wee bit of coffee out there. You have a point. I'm over here puking up CCIV losses. ""Never"" is a bit of a stretch. Not all profitable traders even started out paper trading. Nothing is absolute. Also, you'll still make technical mistakes when you start trading with real money due to emotions and nerves. You'd probably make more mistakes because of them, tbh. Platforms also have some nuances you'll need to also learn once you switch from paper trading to live trading. I'd also argue that people spend too much time learning platforms than learning how to trade, which you only really fully grasp when you trade with cash. Traders also switch platforms or use multiple platforms all the time—are you going to paper trade every time you use a new platform or force yourself to pick it up quickly by using real money? Another argument is that most beginners don't have the funds that paper trading offers. There's definitely a psychological and strategical shift when you're trading with $100K vs. $10K vs. $1K. I'm not saying paper trading is bad, but people tend to ""practice"" on it for far too long. If people choose to paper trade, I say practice for a week, two weeks max. You'd lose more money not grasping the psychology of trading using real money than you would with technical mistakes on a platform. What platform do you paper trade on? exactly Paper trading isn’t for everyone though, Better to start small with real money and see how it plays out, You could get over confident with paper money and lose your shit while actually trading with real money. It’s not a rocket science always and it doesn’t take years of paper trading to start trading, You could start small and learn . where do you paper trade? i'm trying to findnone Whole heartedly agree. Also understanding how the platform purchases and market types and why your order might not fill on a punch error Use a cash account and divide your funds into two days. Say you have $500. Use $250 to trade as much as you want on Monday, $250 on Tuesday. The $250 from Monday should be settled by Wednesday so you can keep trading, $250 from Tuesday should be settled by Thursday and so on. If you have smaller funds just make smaller trades. The idea is to get used to trading with real money without the limitations of the PDT rule. If you use a cash account it isn’t as big of a problem. You do have to wait a couple of days for the cash to settle but if you’re trading a $5 or $10 stock you can make quite a few trades with only a couple hundred in your account. The PDT rule is a huge pain in the ass though and there’s a good argument that it lost me more money than saved as I learned. Yeah, but if you have $25k in an account that doesn’t mean you have to use all $25k. Throw $26k in an account and pretend that $25k is “0” and only trade with money you have over that point. You can still treat those funds as your emergency account “or whatever”, you simply have to have the discipline to not touch it. I agree with what you’re saying. Paper trading gives you all upside potential, and zero risk. You want to know how to get past that in real money? Convince yourself you’ll loose 100% of your day trading bankroll. Let’s face it, a lot of people do. If I’m trading with $500, I convince myself I started with 5 or 10 times that amount. Too many people play with money they can’t afford to burn. Trade with only what you could afford to douse in gasoline and set ablaze. It doesn’t matter if that’s $100 or $100,000. If someone held you down and set it on fire, what could you stomach without harming your weekly / monthly / yearly budgeted expenses? That’s when you gain clarity in real money trading — when you’re trading money that doesn’t make a difference if you burn it. A buddy of mine is a millionaire with a six figure pay check. His average daily play is $2500-$3000. He keeps about $9k circulating so he can jump on when a play emerges. Burning $9k would be painful, but he wouldn’t have to make a late payment or even skip a latte. Yeah im not gonna do live trading until after I have a more rigid strategy and success with ondemand trading in TOS in different years of testing (like 2014, 16, 18, 20). Maybe ill do some small account stuff live. How are you day trading with less than $500 in your account? I started out with TOS paper money as well and wanted real time quotes but then I asked myself: why would I care if there's a 20min delay? It still works the same way. The most important part is learning all the terms and how everything works and what it does. I also have to say their customer support is always available for any type of questions. It allows virtually unlimited customization, I've had no problem day trading with it, certainly a lot better than tradingview. i use it for daytrading and its perfect , in UK so have to execute on T212. cant be arsed paying millions for lightspeed commissions etc etc I'm not taking it literally, it is a comment on the primitivity of the statement. Trading is not gambling only when you do research into the fundamentals behind each financial instrument. Obviously, you can do this with fake money just as well as with real money. Lol ok Wash sale only relates to the minimum time you can hold a security so you can claim the loss. Buy today at $5 and sell tomorrow at $4. That's a wash sale and can't claim the loss. It doesn't affect the cost basis of the next trade. I don't imagine there's anyone on the planet that'll day trade different tax lots within their position, so no. I’ve thought about taking out a loan but having to pay taxes and also interest is double fucking myself. Actually cciv was $12 so I would have five folded.... hm Didn't get out above 40? I’m currently learning to trade more quickly. I’ve been a long term trader for decades. The hardest psychological aspect is fighting the urge to hold something for a year. I got suckered into GME, but it got me started and I didn’t sink everything. A painful amount, but I’ve only lost 20% of my experimental fund. I just feel like I have to go through all of the “firsts” before I’ll get the hang of it. I’m a startup software engineer veteran so I’m used to trial by fire. I thank you folks for the informative insights a couple times a day. Agree, I didn't mean you have to paper trade to be profitable, I mean paper trading is easier. So if you can't be profitable paper trading, it is very unlikely you will be with real cash. Certainly can start with cash only. I started with small cash positions. I'm technically positive because I was very conservative. Switched to paper to actually practice. Not OP, but I use Webull Sterling, warrior pro I'm over doing paper trading. Warrior pro comes with 3 months using sterling trader. That's good if you'll use DAS trader/sterling/light speed in the future. Since, I'm not going likely use a lightspeed yet until I can show I could use the extra speed and I won't renew the sim fee when the 90 days runs out, I also have been using Think or swim paper trading and Tradestation sim account. I had access to think or swim because I already had a TD ameritrade account. I added tradestation because it ties into Tradingview and happened to have a free sim. I've started live trading small sizes in tradestation. Both TDameritrade and tradestation sim acts just like their main software so both are good choices depending on which broker you'll use for real Lol you NEED to have that extra 25k laying around first. That's step 1. I'm not. I wanted to practice with TOS paper money.....contacted them to unlock real time quotes and they said you must have 500.00 in your acct to unlock real time quotes... w/o 500.00 liquid....you get the 20 min delay quotes... You're right of all the platforms TOS had me fill out SOOO much info to verify who I am not just a cell phone number and a pin ala webull TOS is the mature trading platform hands down. I just researched daytrading and one of the things that can give you an edge is direct access routing. Lightspeed can do that. But I will admit I love TOS! um....yes but when you're looking to get in and out with like 40k shares in seconds.....TD Ameritrade might have an issue I'm not sure if their holding company is APEX or not....I KNOW WeBull is.... This guy convinced me an hesitating w daytrading in TOS: [https://www.youtube.com/watch?v=C4XZ\_67c0Fo](https://www.youtube.com/watch?v=C4XZ_67c0Fo) Yeah.....lightspeed is like 1200/mo!! rediculous.....BUUUT it is SO FAST....so if you pay for it.....you can make money faster..... Ross said....if you can be profitable w TD Ameritrade....your earning will be amplified wi lightspeed... Only if you held and sold at the proper times. bought at 55.00 LOL I 2was looking long term...(Hoping that like Tesla it would explode) Looks like Wallstreet decided as the merger announcement....= -40% haha um ok Swing trading vs. day trading. Swing trading is much more doable with a fulltime job and easy to apply with the right strategy and patience. Right, it's a different strategy, like day trading vs. swing trading. I, too, struggle with wanting to hold long term and often have to remind myself to stick to the plan—get in, profit, get out; don't chase, don't be greedy and fight the FOMO. You're totally right about going through all the ""firsts"" first, but you'll totally get the hang of it. Looks like you have the right mindset! >paper trading is easier Which is why people should do it minimally or skip it altogether. >if you can’t be profitable paper trading, it is very unlikely you will be with real cash By what standards? It’s mostly emotions and trade psychology that prevents people from making money trading. You get neither with paper trading. The reasons why people aren’t profitable day trading aren’t necessarily the same reasons why they wouldn’t be profitable live trading. Can you paper trade options in webull? Did you know webull is owned by China He seems sooo, something to me. I just don’t get it, let’s say you really could turn 500 bucks into millions in a few years, why would you charge that much money to people just starting out? I’m not accusing the guy of being a straight up sociopath but it wouldn’t surprise me. Did you get that much value out of your course?! Sure, I’m just saying that if you have it you don’t *need* to use it. I have more have more than $25k sitting in my emergency fund, built up from when I had a day job. I can still treat that money as untouchable while it sits in a brokerage account. Oh well. I didn't know they did that for paper trading. My mistake I guess. Bro, if that’s the case, INTRA-DAY TRADING. It will teach you the fundamentals and skills needed >https://www.youtube.com/watch?v=C4XZ\_67c0Fo [https://www.youtube.com/watch?v=3pIdrFZR4e0](https://www.youtube.com/watch?v=3pIdrFZR4e0) I’d probably still be holding Not a mistake I'll make again...Chasing IPO failed......chasing a merger announcement netted a loss. So I'll just play penny stonks Many things in the market are “buy the rumor, sell the news”. People bought CCIV on the rumor of it merging with Lucid, bought it from 15 all the way to 60, this is a crazy valuation! So of course it should sell off when the news is released as it had already been over valued. All dude means is it’s a safe way to practice essential skills without risking real money. Sure, you don’t absolutely 100% need to paper trade before using the actual stock market. But, if you have no idea what you’re doing, you’re likely to lose a lot before you win. So the idea is people go to paper trading to get those mistakes out of the way, and learn from them, then go into the real thing ready to go ... or at least more ‘ready’ than before. I plan on a month or 2 of paper. Learning new techniques. Actively trading otherwise with money. Not sure what minimal would be. I think a day or 2 to learn software is minimal and reasonable if you know what you're doing. There are no standards. Just that most people day trading for real, fail and can blow up an account. I'm no expert, definitely open to other techniques on learning while maximizing chance for success. What's your recommendations? I’m not sure about options Yeah, I don’t have any money in it, I just used it to get use to the charts and everything Who the fuck downvoted you? You’re right. WeBull *is* owned by China. If that doesn’t concern people.. it should. I'm partially through it. I think his advertising persona is different than his teaching persona. Very believable and genuine. I don't think it's necessary. Free courses, youtube, books can get you the same info. It's very well organized and recorded which keeps me from going down rabbit holes. If I did it on my own, I would be all over the place. Access to the sim, chatroom and scanners is helpful but also with viable free or cheaper alternatives. He's built up a very good company. The lecture software is high quality, the chatroom is also high quality, much better than discord. I think the reason he does it to put my guess in the mix is that he truly enjoys teaching, he didn't always make that much money. I think he has a passion for teaching. He made good amount but not millions until last year. It's good to diversify your income stream. So far, I'm happy. I've made more on my own trading and options, but I've also lost more in dumb trades so I figured it could be money well spent. it's sooo hard not to look at current prices and grow your account..... You solution is more volatility? Look into VNUE and UBMRF. >All dude means Are we reading the same post? Dude said: >if you can't make money in paper trading then you'll never make it with real money. and >if you can't be profitable paper trading, it is very unlikely you will be with real cash. I don't have a problem with paper trading to practice essential skills (but don't stay there for too long). My issue was their sweeping statements basically claiming that one's success with paper trading is indicative of one's success live trading. Two different beasts. >without risking real money That's the inherent problem with paper trading. You can practice all the essential skills you want, but without risking real money you're not practicing those skills in the right context. >the idea is people go to paper trading to get those mistakes out of the way, and learn from them Real life: people don't get mistakes out of the way and truly learn from them until there are real consequences. Paper trading just teaches you about mistakes that exist and ones you're prone to make. But without actual emotions and real money, that's all they are. Unfortunately you have to lose money to learn lessons. Most traders have that one or two defining trades when losing real money was the pivotal moment that defines how much better they are as traders today. Do what you think will work best for you, but IMO beginners should paper trade just to learn the software or app and make a few trades for a week or so. And then get out there with real money, even if it's not a lot. Start with $100 if you have to, just go small. Use a cash account so you can trade unlimited while learning how to manage your funds. The idea is to learn trading psychology with real money—when real emotions and the worst in you come out. >Learning new techniques You can learn techniques anywhere. Tradimo is a great place with lessons in small chunks and quizzes after each one. YouTube is a great place for learning techniques as well. You can also follow live traders and how they trade. >most people day trading for real, fail and can blow up an account ""Most people"" includes people who have spent months or even a year paper trading. This has less to do with knowing how to trade and more to do with knowing how to handle your emotions when getting in and out of trades because real money is at stake. Nice man glad you’re getting value out of it fire with fire!!!! Paper trading is like the training wheels of trading. If someone is consistently eating shit on their bike with training wheels, what makes you think they won't do the same thing on a real bike? It doesn't mean you have to use training wheels to learn how to ride a bike. Thanks, appreciate your perspective. fight fire with fire sale 🔥 You're proving my point. If someone is consistently eating shit on their bike with training wheels, it's not an indication that they will do the same thing on a bike without training wheels. Eating shit on training wheels happens for different reasons than eating shit on a bike—training wheels aren't meant to teach you how to ride a bike or not eat shit while riding one. Most people don't understand what training wheels are for, just as most new traders don't understand what paper trading is for. (And that's okay.) It's the same with paper trading. Consistently losing money while paper trading is not an indication that you will consistently lose money live trading because they happen for different reasons. There are different mechanics at play as I've detailed previously in this thread. Lol you’re too kind" I have created a trading terminology glossary for us newbies!,1948,https://www.reddit.com/r/Daytrading/comments/lesymn/i_have_created_a_trading_terminology_glossary_for/,"Thanks for taking the time to put this together! It appears to be missing YOLO and FOMO 😎. Kidding, great job! THANKS man, I appreciate your effort. I am a greenhorn so I can actually use this! I would absolutely love a chart pattern booklet!!! I’m obsessed with chart patterns, would really love to see this And thanks for the hard work for the book terminology And yes please on the chart patterns 🙂 Hey OP thanks for putting in the effort to make this, this is awesome! Cheers! [removed] Thanks mate! YAY! This will be super helpful 👍 You should have one for emojis 🤣 This is Amazing. Thank You 🙏 This is great, I'll definitely be using this! Thanks! This is awesome!! Thank you so much for putting this together As a newbie, I can say it's much appreciated. thank you! This is neat! Thank you so much Thank you for doing this! Newbie here :) Awesome! Cool stuff, much appreciated. :) Such a great resource! Thanks! Thanks bro, good job ! 🔥 This is awesome! Thank you for sharing with us. :) Thank you! Thank you bro. Appreciate this. Thank you!!! This is amazing, thank you! Saved your post ❤ This is fantastic dude, I commend you greatly for this. Although I won't find this much use myself after being in the game for over a year now, I appreciate how annoying it was at the start trying to remember all these pretentious words.. so thanks again :D. I like your approach to this game, you seem to be hungry. If you want, I have a 36-person discord server, where we all share a similar drive and passion for this. If you want in, just message me, we only want real aspiring day-traders and not WSB wannabes xD This is great! this is also my type of learning also so thank you for taking the time to do so. As a newer investor, I really appreciate this! Thankyou so much for this! I started learning about all this just last weekend, spent the week watching streams, videos and reading a lot but was confused with a lot of the terminology. This will help me out a lot! Thanks again This is amazing and super helpful! Dude thanks.. this is legit. Wow so comprehensive and thorough. If I were your teacher you’d get a grade of A+++ Actually I’d just step down and have you teach the class, bravo 👏🏼 Thank you. Any chance you can add margin trading in there? OP this is awesome. I’ve always wanted to put together something like this - thanks for sharing! Can we diamond hands this? But seriously. Thank you. Why use many word when diamond hands do trick [deleted] I get that it's trying to be cute, but using the logo and trademarked design of ""For Dummies"" series of books will get you into hot water. You're redistributing your own content under their branding; there's no reason to do that. Lose the first page and call it something else, like ""Investing Terms for Reddit Noobs"" or similar. Appreciate this so much. Me and a my friend have getting big into trading these past months and we're still finding out new words everyday everytime we watch a new video or read an article regarding trading. It's awesome that you did this. I would love to see a pattern chart term with an image/picture that could be quite useful. Awesomeee! Thanks Good job Jimmy, im happy to see all the effort you put in. Day trading is a marathon and not a race; hope your hard work pays off! Big props, thanks man 👍🏼 As a licensed broker. I shall be saving this. Thank you so much this is amazing! I didn't find ITM, ATM, OTM basic info for options that seems to throw some newbies off. fuck yes thanks!! Effort is appreciated This is great! Very useful for a beginner like myself. 👍 Thank you. Anyway, the best learning techniques is writing a book This will surely help everyone go to moon 🚀 You are the man! This is amazing. Thx a lot man. You read my mind and granted my wish! I has been saying literally just today that the lingo is making it so hard for me to keep up! Thanks so much for this! Thx sir, I am new into trading and about to start my own abbreviation list. This is super helpful Ohh I fucking love you 😽 Thank you so much! Good stuff mane Just a heads up, paper trading is almost useless. There's no pressure which is the actual hard thing about real day trading and the fills you get are totally unrealistic. If you really want to learn how to day trade then put a small amount of money that you're happy to lose in a brokerage account and start going for real as soon as possible before you develop bad habits. All the best. This is incredibly helpful! Great job This is amazing! This is awesome, thank you very much! Don’t know if this is just a WSB thing but I keep seeing references to “weeklies.” Any idea what these are? Thank you for this. I think it'll come in handy. Thanks for this! A good addition might be an acronym section for those who don't know what YOLO stands for. This is awesome for us newbies! I'd love if you could add abbreviations as well since that's used a lot in the subreddits, took me a long while to figure out what DD meant lol Thank you so much! 🙏🏽 I just finished reading this whole thing, thanks so much for taking the time to put this all together!! Looks great! I would make a change to the support line, because you say it can be slanted, but if it's slanted, I thought this was always called a trend line or a speed line, depending on the timeframe. Goddamn this is helpful! Thank you! You are a gentleman/gentlewoman and a scholar! Many thanks! The best advice I can give as a professional trader is, don’t trade options, and keep your charts clean and simple. Ah sweet! I’ll take a look at this later. Thank you bro u/SkinnyJimmyuk hey, I was just wondering if you possibly had an updated version of this glossary? If you had added more over the year or not, I’d figure I’d ask. No worries, day trading is something I really want to understand, so i figured the best place to start would be to understand what people are actually saying so i can engage in conversation here - I hope it helps! hahaha yeah I was considering adding 'Diamond Hands' and 'Space Apes' but thought it would deter from the integrity of the document hahaha hahaha likewise, we've all got to start somewhere eh! Glad to hear it, I will definitely be making a a chart pattern booklet, so stay tuned hahah, I should have it up by tomorrow or Tuesday! Seconded! :D You're welcome mate, enjoy you're welcome, glad it helps You're welcome mate! You're welcome :) No problem! Hope you find it useful Happy cake day! I appreciate the comment my friend, I will definitely keep take that offer into consideration! Glad to hear it, I'll be posting a chart pattern guide soon so keep your eye out for that Happy to hear it! Yes this will be added! You're welcome! Im not sure what you mean? I'm from the UK so I cant use TOS Yeah I did think about this, but I wanted it to at least seem half attractive and thought it was just a bit of fun so there shouldn't be any harm done. If for some reason 'For Dummies' came after me I' would change it Thanks for the feedback, I’ll get these added :\* I agree with you in regards to the lack of pressure, however using a paper trading account that reflects the live market is an incredible way for new traders to get their teeth stuck in with their broker's interface, testing strategies, learning how to use indicators, and getting comfortable with stock volatility without risking any capital. Of course, the pressure you face with real money can affect your decision making, however in my opinion, starting off with a paper trading account will greatly improve your confidence once you transfer to a live account. Glad it helps! Thank you! You're very welcome I would need to see it in context but the first thing that comes to mind would be that they are maybe talking about *timeframes* which is defined in the guide. Essentially weeklies could be referring to what *timeframe* is being used to analyse a trend of a stock to get a better idea of the potential *momentum*? Typically used in pre-market or for swing traders. Someone else may be able to give a better insight to this however. Yeah a lot of people have been asking for acronyms so that will be coming shortly, I'm currently working on a chart pattern booklet - once that is done I will begin the acronym section! Awesome! They'll be a chart pattern guide coming out soon and I will be updating this glossary with new words and abbreviations! You're right, silly mistake on my end, this will be updated in the next few days I also really appreciate this. I don't ask a lot of questions (certainly not nearly as much as I have bouncing around in my brain) and just do a lot of reading so I don't overload the experienced guys/gals because I know they don't want to hold our hands. Even so, I constantly come across stuff, even in beginner videos, that throw terms and concepts out as if they are obvious. I, too, also really appreciate that you took the time to do this. Could you add “Gap Up”? I’ve seen that tossed around here a lot, been meaning to Google it 😋 Oh! And to check, I think the investing timeframes seem to be: Scalping (seconds) Momentum (minutes, up to an hour) Swing (a few hours, maybe up to a week) That about right? Never thought in the year 2021 I would see the term ""Space apes"" on a day trading sub-Reddit and take it seriously. Fomo wouldn't be bad to add. Given that 'diamond hands' is a colloquial term used across numerous subreddits with millions of subscribers, I think it's reasonable (and actually advisable) to include it in your glossary. Proves that the document is current at least. True enough bub! I have 7 stock types and some Etherium.....it gets me truly amped....I really do believe Etherium will make many new investors a shit ton of money as long as they know how to ride this coins wave Sounds great! I’ll keep my eyes peeled on this sub for your booklet then. I’m so excited. Hey kind stranger could you mark me on the comments? Wouldn't want to miss it c: Here's an award for you THANK YOU :3 Sure, well if you want in, just PM me and I can send you a discord link. As I say, we are just a small group of people who really want to do this as a career, and we are all in it to help one another get better and make some MONEH! xD GL dude. Awesome. Thanks again, great list The ""harm"" is that you are creating confusion by branding it under someone else's trademark. Just change it to avoid trouble; as someone who deals with IP theft regularly, there's no reason to be stealing someone else's work for ""just a bit of fun."" You're not doing it as a satire or commentary, so have no Fair Use exception. It's good to start paper trading while you learn how to read charts and develop a strategy. I can only talk from my personal experience but I paper traded and read countless books for about 3 years and was making massive returns in my paper account every day. Decided I was ready to go with real money and quickly realised that it's like going from a paddling pool into the deep sea. From that point it took me about 3 years of trading all day every day to build my confidence with my system to where it needs to be and become consistently profitable. Paper trading has its uses but its useless at helping you with the psychological side of day trading which is the difficult part. In my opinion as someone who's been there and does this for a living, paper trading is step 1 on a long journey and you need to jump into the deep water and sink or swim as quickly as possible. It's the only way to actually learn Weeklies I believe are weekly options that some stocks have. Yeah I get you, we're a bunch of a small fish in an exceptionally large pond, but just remember all the guys and girls that know there stuff in here, started out just like us! Keep motivated and consistent with your learning and never be afraid to ask questions! If you don't know you wont grow. 'Gap Scanning' explains this :) Generally speaking, yes! Swings are typically more day-week however. Yes but swing trading means not buying and selling the same stock in the same day. You have to hold for at least a day for it to be a swing trade Scalping can be more than a few seconds dude. It can be minutes! As long as it's not overnight and you are constantly wanting to take small trades when the moves happen, this is scalping. But for the most part, scalpers typically are in and out within seconds, but sometimes minutes too... just FYI aha. If you have any questions feel free to ask me, I am only a year in, but I too hated how no-one would want to help. Also, swings can be weeks and even months; and momentum varies too. gonna be a good year! Planet of the Apes becoming closer and closer to being true! This is actually a really interesting perspective and a really good point, my thought process was that if I included these terms people may think it is more of a joke as opposed to a serious document. Having said that I think I could create a 'colloquial phrase' section to allow newbies to actually understand what is meant by 'to the moon' 'diamond hands' etc. I appreciate your concern, Ill remove the 'For Dummies' page and re-link, I'm sure it would be fine but it is of course Trademarked and like you say it is stealing at the end of the day. Yeah for sure, my main goals for February are to get down a solid understanding of terminology and trade every market day using a gap scanning strategy to improve my confidence and understanding of the strategy. You are definitely right though, the sooner you rip the band aid off, the better! How much capital did you start off with when you first went live, if you don't mind me asking? Such a great comment. The psychology of day trading is so important. Having real money on something changes everything. Good luck everybody!! Maybe add Gap Up and reference Gap Scanning to it. Noobs might not know to look for Gap Scanning and whether it’s the same thing as Gap Up. I am new to trading and am wondering how small micro trades can get any profit. Aren’t there fees involved and they would eat at the bottom line Yes definitely, this year is going to be a great year. Looking forward to everything. I'm new to trading only been seriously doing it for a month and it's some of the most fun I've ever had, even if I've lost some money 😅. That sounds perfect! It could even become something you regularly update and/or segment by year/chronology I'm a regular on stock subreddits and there are still terms I have no fucking idea about, so I think it would be beneficial! I started with about £5k which was a lot of money to me at the time and probably contributed to the pressure. If I could go back now I wish I'd just put £100 in sooner and been growing my confidence with real money and then scaled up. Good luck out there, it can be brutal but know it is possible to make a living doing this if you put in the work. Also the name of the game isn't making money, it's managing risk. The sooner you understand that the sooner you'll become profitable consistently Yeah I will sort this, thanks for the feedback! Yep, this highlights the importance of being adequately capitalised right? There are fees, but if you have 1000 shares of x stock, x stock is going for $7.50 a share, all you need to make $100 is a 10c move. You can see 10c moves ALL the time in stocks this price. For example yesterday, I was in a similar stock, except it moved $4 in under 30 mins. You don’t always get these for sure, but you can always find 10c moves.. and if you have the right capital... go ham breh. Yeah based on the response this post got I'm definitely going to keep this as a regular thing, not only will it motivate me to learn, but it will also be a useful tool for others I really appreciate this insight, I'm trying to drill into my head that small gains are better than risking big losses, risk management is so important, definitely shouldn't be disregarded. So here I am waiting 3 days for Fidelity to approve my initial funds check. But as I understand it, when you buy or sell, is there not a time (Fidelity is 3 days) for a hold before those funds become avail? I can understand a sell order hold, but is there a hold on a buy, where you have to hold the stock for a certain time before selling, or can I sell in 30 min if I want? And I appreciate all the help you guys give.... you guys are champs... Absolutely! Cheers brother! So it sounds to me like you’re referring to the PDT rule dude. You sound a bit confused with the general process! I’ve got a discord server with 40 of us who are all relatively new, but most of them are American so they’ll be able to help you with the PDT rule and shit. If you want in just DM me on here! It’s completely free dw I’m not trying to sell shit aha." "Here ya go! Here are my rules for preventing a losing trade. If anyone has any questions, let me know. I hope this helps!",1945,https://i.redd.it/qgp5omuhw7691.jpg,"You had me until you mentioned not using margin and not trading options. Both of which can be used to scale a small account and consistently profit each day. Do not fight the trend is the best rule Add in ‘don’t engage in conversation whilst in a trade’ - How many times my partner decides to talk to me while I’m trading and it goes belly up fast 😂 I like these: ""Trade your ideas not someone else's"" and ""Don't step away from your PC"" Get enough sleep. This one literally is the most important one for me. Forget about emotional control if you're not getting at least 7h of sleep. Sometimes you SHOULD step away. Lol. I like the rules though. Rule 1 - Don't be greedy Rule 2 - don't listen to anyone, it's your money and risks Rule 3 - withdraw profit from the exchange. What lies on the stock exchange does not exist. Ignore a lot of these fools. If these help you stay profitable, then you do you. Not everyone will agree with these, but if they work for you, who gives a shit what anyone else thinks. Don’t drink and trade. This one did cost me quite a lot. No options? Wtf Missed me with that one Alright, hopefully this gets upvoted. I don't know how to pin. As the title says, these are *my* rules for preventing a loss. This isn't all of them. These are the ones that *I* find the need to remind myself. This might not apply to you, that wasn't my intention. The purpose of the post was to share some of the rules that *I* re-read to help prevent losses. That's all. I feel like the unwritten rule is to write down your rules by hand. Seems to carry more weight than a printed piece of paper! I'm happy these rules work for you. Honestly, I break 90% of these rules every morning when the market opens and in the last hour of the day. The key for me was to learn price action really, really well. ✅ If Support Breaks... Look for a short when it retest the resistance ✅ I trade at the end of the day, everyday ✅ The bigger the knife falling, the better. ✅ Chase breakouts all the time. Just gotta know which ones have higher probilities of success and how to handle it without freaking out. ✅ Forget my ideas, I don't have opinons, I let the market tell me what it wants to do via price action ✅ Scale in, and scale out. Sometimes. Most times, I go all in, and all out. ✅ If you average down properly, then you won't have as many losers ✅ I walk away all the time after starting a trade. It depends on time of day, setup and probabilities. What are your rules for position sizing? 😉 Really good advice I would be a multimillionaire if I followed that lol ""Don't trade in 2022"" Thank you, OP, nice handwriting! if someone wants just the pic of the tablet to stick somewhere as a reminder, without the hand of the Moses, [here it is](https://imgur.com/a/akBW3It) ;-) Don't trade when youre bored. Great advice! I've sustained many losses because of this. Can anyone explain me on Scaling In & Scaling Out strategy that OP mentioned. I am guessing buying small increments instead of one big block. Don’t step away from pc? I feel like my observations are being felt in the quantum realm. Sometimes best to just set stop loss/ take profit close the laptop and do something els ""Set Stop Losses"" SECUUUUURITYYYYYY Don't forget to buy stocks the day after the company declares bankruptcy! $ELMS All great except the don’t step away one. Setting a stop loss and take profit and purposely stepping away is a superb way to avoid emotional trading. You could still check every now and then Only put in money that you can afford to loose! I only use my ""allowance"" so that if my choice did not work out I would not hurt my wallet. Very good rule list going to start following these. I blew my account up this week on options again. Things always go so well and then a play without a stop and adding to a losing position just kills everything. I work full time so day trading plus my high intensity fast pace job while trying to juggle options is just too much. Sometimes I just can't check what is going on and have open positions that get destroyed when if i was watching i would have sold. I need to just swing trade or enter a position and set my stops and pt right away then don't touch it. I make a lot of good trades but some of my losers ruin all my winners Thank you good sir. I'll never give up I know without a doubt I can make this happen just need to figure out my style and rules. I very much agree with not using margin or options. Everybody here thinks they don‘t make mistakes but they will, and with not using these two things, the fallout from these mistakes will be lesser. Good rules! Don't hold margin over night. Definitely use it during the day as long as if you get stopped out you won't lose more than 1% of your balance. Some days there's great setups on slow moving stocks and margin is required to make your trade worth while. You forgot the first rule: * Never tell everyone your rules because they always have shit to say. * I personally LOVE your rules. I dont follow the same ones exactly, but having a list like that is great. This is exactly how you make trading scientific to create repetable results so you can draw logical conclusions. Kudos!! Great job. Add Always money to be made behind Wendy's! Why no options? 5,6,7 are the biggest ones imo. This is a great list. “Don’t step away from PC”. No lie, lol. Although sometimes I’ve been pleasantly surprised too. Your missing take profits and pay your self for the work, it’s easier to get back in for me if I take profits and get stopped at b/e than get ripped and on a short squeeze Don’t walk away from PC… bowels move whether or not you do and that’s a pile of shit I’d rather not be sitting in. For some reason I read #3 as “try not to trade near food” I love leveraged options on margin Might make this my background pic on my phone I like your handwriting! 😊 Number one rule: take profit I think there should be a portfolio posted with posts like this. Every “professional” trader I’ve met loves giving advice - with an account under the pdt minimum. Show the gains Op. I think the margin is the only one I disagree with, need to learn position sizing to use it effectively. My issue is I get greedy with options and hold until I lose it all! Don’t trade on the toilet or in bed. ""Dont step away from computer"" Thats why you get a laptop and trade while you poop But if you have SL you would not be break even. If you wait to be break even it’s because you didn’t have stop loss You are a failure! You missed the most important rule of all. You have to do a trading journal! How would you learn from you mistakes and verify that you make progress. PS: Of cause you are not a failure. I just wanted to stretch and underline how much of a deal it is that you are missing this rule. You’ll miss the trade triple guessing yourself like this No options? You really don’t know what you’re doing then. Some of the best traders (myself included) swing or scalp options while hedging against themselves on futures. Nobody uses stop losses unless it’s a swing. Or you can use options to hedge against your other day trades. Today was a great example where I had swing calls from yesterdays lows on SPX while shorting /ES on the premarket swing high. Calls ended up big green EOD and those short scalps made good profit as well Not trading during EOD is stupid as power hour 3pm est is quite literally one of the best times to take a quick trade. Also based on your ‘if support breaks get out’ point it seems like you only long which is again incredibly limiting. I wish you the best in your trading endeavors though. ""Don't step away from PC"" as if that makes any difference If you set a stop loss you would lose so how would that prevent a losing trade? What a stupid list. No margin? No options? Gtfo Your clean and fine handwriting makes me suspicious that this is part of a marketing campaign... . The summary of the whole list: do not trade. No options?!?!?! Ban this guy. Puts on spy. this is completely useless You can't prevent a losing trade...everyone, ignore this clown. Can you explain 4,8,10,13, and 17? Sounds....super subjective. Yikes. No options? Tf you tradin There are 2 good rules there. Preventing a losing trade? There’s no such thing. Trading is a probability game. If your goal is to not have losing trades, you need to quit trading now. Losing is part of the game. Without a detailed explanation of your trading strategy, this is just abstract info in a vacuum and shouldn’t be helpful to anybody. You must be joking. I suggest you add rule numbers to this and just remember that when you are about to get tempted to break any of your rule !! A wise guy once said rules are meant to be broken :) Last 2 are the best rules Don’t step away from PC.. Forgot to add what to do after a loss. I break nearly every rule and I'm up over $3k this year ,as of today, after starting with $0 and no margin, simply trading calls/puts... May sound like not much, but that's a lot of money to me, I'm proud of how far I've come. It certainly wasn't easy and took a lot of failures before I got better. So you havent lost after making this list? Imma print this in colour. And stick it on my wall. Thank you. Not crazy about your rules, but whatever works for you. Personally the most important thing is being 100% focused and prepared. You can't make a nickel in this market being sloppy. Great list, but if I may I'd suggest 2 changes to it personally... remove ""no options"" and change ""no margin"" to ""use cash account."" good rules... but too many to be a valid checklist for identifying, entering and exiting a trade. Just an example list, similar to what i have--- If uc an, try to distile them into no more then 5 basic rules. 1) know your entry, exit, profit and loss targets BEFORE entering trade. 2) take a list of 5, 10 tickers-learn them and trade them and only them 3) have a set percentage daily loss and per trade loss- stick to religiously 4) trade on your own convictions, not anyone elses... they will be conveniently gone when u need their help the most.. 5) dont overtrade- have a set limit [deleted] You lost me at step 1….market makers probably love you lol This is the what not to do list right? Wow this handwriting is truly amazing OP! Leave huge gainers alone - Check, :( Another rule: The market doesn't hate you! It just doesn't care about you (at all)! ​ (Calms me down every time and avoids revenge trading since noone knows me personally so I should not take it personally). Thanks for posting these! I know everyone's rules differ slightly and we love to bicker, but it's always great to see how someone else mentally prepares for trading. Great rules. I stepped away from my computer last year to make my son a sandwich before school and lost 4k lmao. Most expensive sandwich ever. I honestly needed this and took a screenshot. Last year was easy this year not so much. Make sure your in the correct emotional state. Like for example, if my wife and I just had a heated argument the night before and I'm still mad the next morning, I know I need to not trade in that 'emotional state'. I won't be thinking as clear as I need to be, or I'll make a stupid 'I'll show her' move. Just know yourself and be honest with yourself. That seems to be where I struggle the most. Really like these tips, I have some that I’ve been adding to my memo app occasionally: Patience Stop following these fu*king idiots Gauge overall trend, be careful going against Don’t watch PNL, watch chart Risk management Consistency first, scale up later Have conviction to hold I must see it for myself, no FOMO Good list Why don't you touch big movers? Options I always felt is in a League of their own I have a list as well. great to have a list Your handwriting should be a font. Like the PC rule...I took a $200 dump a couple of months ago 😆 Should have just kept it to one rule. Rule 1: don’t lose 💰 Is there any where that's good to start to learn about day trading, I hope to be able to start sometime next year. Once I've learned a bit more about how to do. It Your list is trying to eliminate too much risk, I imagine the reward also diminish proportionally On a bad day like yesterday, i turned $1000 into $5000 trading spy and QQQ. Trading options is just the same as any other equity. Options are my huge winners. 😎 btw, nice handwriting. From your writing alone, I can tell you are a disciplined trader. 🤓 Rule 1 only. Don't Tarde. Only swing I only trade options lol Now you tell me, when my $pypl is down 80% NO options! SADGE! Good luck! You're doing great! I love your handwriting Those are some really fucking nice handwriting. That penmanship though 🕺💯 Love options for day trading! High risk , high reward! Would pitch in stick to your strategy. I disagree with the first one, I never used stop losses. That's exactly what smart money looks for. Ok what’s your plan for not catching a knife? 👹 I’m sure a lot of people have said crap about the “No options” thing but in the market we have the green days are far and few inbetween and not enough to only be trying to play things up. Short selling can be hard to get shares for and can’t be done without margin to cover incase things go against you. But puts is a pretty safe way to hedge your shares if you’re trying to play things up and can be pretty profitable if you do them right. I don’t like to get puts to follow the trend because you won’t get a good premium on them. I often try to remind myself to look for chart patterns that I recognize and get the options at the extremes. I recommend really having Elliot Waves and wyckoff logic and schematics down pact to find the best entries. I played Amazon down from 3700-2000 after noticing it was a wyckoff distribution pattern in October of last year. A lot of bottoms have a specific pattern to look for and you wanna buy shares and options at the end of it incase the bottoming pattern breaks down instead of up at the end. I actually recommend for people to try to trade crypto day trading first because of a few factors. There’s no limit on trades, the barrier for entry is next to nothing so the risk can be minimum while learning, and lastly it trades very technically and this can help you learn patterns and help you conquer your emotions. Once you’ve seen the same pattern play out 1000 times it gets easier to trust it. You’ll find that Elliot Waves and wyckoff schematics and logic apply to all time frames and being able to identify it on the 1-15 min time frames is a killer for day trading and being able to identify where the market is going on the daily/weekly you’ll have an easier time playing the trend. This is ending up a book but I’m trying to offer some real advice is all bud. I love your rules and I recommend making them bigger and putting them on the wall somewhere. I’d also maybe print out the more common wyckoff schematics and the emotions wave cheat sheet chart and hang those as well. Good luck man you can do it! Don't step away from PC, that's a good one I lost about $1,200 going to the restroom one time Sir this is a casino You have nice handwriting >no options >no margin Man 😂 are you over PDT yet? Cus there’s actually no chance you can even hit 25k without either of those if not. like this is a real bear market now lol youre really better off just sitting out for a bit if you have low capital, even paper trade if that’s the case ideally. Actually if options and margin are still intimidating you should definitely be paper trading with both til they aren’t anymore. Just my $0.02 best of luck tho like no shade don’t do something ur not comfortable with until u sim it but your gonna have to rewrite these rules at some point for sure If you have all your automatic triggers set according to your plan, then no reason to be stuck to your screen non-stop. The last 3 rules are all being broken. Let’s be real. You would be crowned king if you did a detailed blog post/article on each one individually. I don’t forget the most important of all. Don’t poop on the floor. The only problem I have with this is the last rule. You should never feel any emotion about any trade. You could make a rule that says if you break even after starting the day down: quit trading. ""Don't step away from PC"" -- debatable. I trade on all or nothing, so stepping away from the PC is the best way to ensure I do exactly that. Too many traders also have the problem of not holding long enough-- walking away is such a simple solution to that problem, so long as you have a bracket order (or only a stop loss at the very least) in place to do the rest of the work for you. This is why I love trading. I'm a lazy ass who doesn't want to watch price and volume after I get in. Then, there's Michael throwing his keyboard through his window after losing his 12th trade after watching his screen all day. It all comes down to how you make it work for \*you\*. Am I the only one who thought this was some janky Rules Of Engagement at first? Had me a little confused at not trading near Explosive Ordinance Disposal. Good list! I would add: Don't forget to cancel your resting orders after closing out a position with a market order. Too often I have and I ended up with an unwanted position. Mental clarity is key. I can not stop myself from averging down and getting stuck. Thanks Had me until options! Happy trading....... I wish I followed ur last rule on my last trade. did someone’s grandmother write this? Almost but that ""Don't step away from PC"" thing is a bit off for me. Do you know that the highest form of trading is the easiest? Do you know that you should just look at the chart with no more than 2 hrs per week every sunday night. and that is just for filtering tradable charts and setting limit orders based on what the market gives you. The next time that you will look at your chart is during friday to check on the status of your placed trades. No options , no margin ??? Lol . Those what cam small people make some decent gains What do you use for confirmation and signals? Great rules btw You forgot FOMO Looks like the Ten Commandments- all good rules to follow what does dont catch a knife and dont chase mean? My list is simple. Always sell for more than you bought it for. My subscription is only 29.95 a month. Don’t buy losers only winners. Can I pay you some Luna tokens for your insight I am coming Not all winning trades are good trades. Not all losing trades are bad trades. You cannot prevent a losing trade, and losing trades can still be *good* trades. I think it's important to understand this distinction. What you \*can\* do (and what your rules basically are for) is to try to avoid a *bad* trade. If support breaks you look for shorts. Personally I love trading options on big names and spy with big volume and tight spreads. Much easier than day trading volatile stocks and the returns are huge. Just buy options expiring far in the future and your set. Bro your handwriting looks like a font I have downloaded on my pc. 😂👍👍 If support breaks get out? That’s the best time No options? But it will take me twice as long to lose my money What is scaling? Options are excellent for day trading. Can be in and out making at least 2-5% minimum per trade. Yea I use margin on every trade just manage the risk , only thing your doing is cheating your self from gains, per trade I’m usually using a hundred percent of my margin depending on the stock price but as I trade high beta it’s almost always one trade Can you eli5 these because I was going to ask about both. Please and thank you sir I haven’t touched margin yet but I like using options. If you're trying to be successful day trading you shouldn't need margin. It adds unnecessary risk. EXACTLY There’s literally no way you can even hit 25k in a bear market without both lmao so I rly hope he’s got at least that much otherwise he gonna be doing a lot of running of place at best Ya! I wonder what’s wrong with using margin I know it as: ""The trend is your friend (and not your enemy)"" it also helps to know where you are in the trend (near the beginning or near the end). best risk/reward is near the beginning of the trend. middle is fine too. near the end it gets dicey How to identify a trend? This is a great rule. Ha! I have two young kids and a partner. PC in living room. Had to establish rules that when daddy has headphones on, leave me the fuck alone. Took a bit for them to get it, but man, headphones are a life saver form distractions. So many times 😂 I'm staring at screen, wife comes in and starts babbling in my ear 🥴😂 [removed] Underated comment right here. You need to be sharp, no room for being sloppy right now. Well for me is it also wake up early and exercise and avoid 'heavy' food. Also check for food allergies. The tests today are very simple and cheap and can be done at home. I know quite some people who tested themselves and reported a lot of problems regarding concentration and nervousness to vanish after removing problematic foods from their diet. I am especially afflicted and had to help myself this way as well. If your plan requires a high state of mental acuity to execute, then it's too easy to f'k up and it's not a good plan. Get some sleep so that you can think clearly to make a good plan. Actually following your plan should be something that a half-asslepp intoxicd mky candoo. Agreed. I had to piss really bad this morning while trading 🤣 Yes, the rule is more-so surrounding ""do not step away from PC if you don't have stop/PT orders set."" Exactly! Thank you. Alot of these rules are a result of not having a systematic trading plan or trying to trade too many setups, if you have a plan that outlines your entry conditions and risk management precisely, the only rule you have to follow is to stick to the plan Well I always make sure I have a good full water bottle right next to me before I start trading! :-) Just a personal preference. You do not have to iterate and point out that these are YOUR rules. This is the internet my friend. Everyone takes everything personally and we do not care what is yours and what's not! :-) They claim there's a power seeing your own goals, rules, etc. in your own handwriting. Many self-help books talk about that. Well you will have a limit when it comes to risk and position size and situation. This is you maintaining emotional balance. We all have an emotional position limit. When ever you notice yourself thinking about money when being in a trade then you usually have exceeded your threshold of 'I do not care its money'. Reduce your position, then. For the math side of things (homo economicus), just use your MaxAccountRisk and ensure: |price - priceStopLossPrice| / sharePrice) \* positionSize < MaxAccountRisk \* currentAccountSize positionSize = Number of shares MaxAccountRisk = traditionally 2%, some use 1% or even 0.5%. The same calculation applies if you use margin but currentAccountSize is your money without additional margin purchasing power. ​ These are the two limits that determine your position size. First is emotional limit, second is the limit dictated by proper risk management. You also have a maxLoss Limit per day and per month. Instead of switching to paper trade when these max-loss limits are exceeded, some just reduce the limit (by reducing the MaxAccountRisk). If for example everything goes south constantly you can change your MasAccountRisk to 0.2% instead of 2% and all of the sudden your position size will decrease to up to 10% depending on your SL for the current trade. Tipp: Resist defining more aggressive SLs so you can run bigger positions for smaller account risks. You will be stopped out more frequently, getting frustrated. So do not think about position size when defining your SL. I never trade more than 4% of my capital I’m not OP but one of the guys I follow (Aristotle investments) says he goes 10-20% of his trading capital so 10% on somewhat confident plays 20% on really confident plays He’s very good at day trading u should check him out So I recon that you only made a single million. I can respect that! This one made me laugh. Thanks, it’s worth saving Yep, that's exactly it. Scaling in allows you to get a better average, scaling out allows you to let a winning trade continue to run for you. Scale in on the way down, scale out on the way up. Yep, the rule is more-so surrounding ""don't step away from PC if you don't have stop loss/PT orders out."" Always need to be covered. It depends on the exchange and the trading time. I often see candles by a few percent during premarket. YES! Especially when book value exceeds market capitalization + debt and they did not commit accounting fraud. Yes, this is the idea behind the rule. But even a day like yesterday, I entered a trade, ran outside real quick, came back, and it was right near my stop. I probably would have moved my stop up if I had seen it come down. So, that's what that rule is implying. >I'll never give up I know without a doubt I can make this happen just need to figure out my style and rules. This is what it's all about. Keep that mindset! Just a personal preference. Stepping away usually helps me when I have bracket orders. If I’m watching a take profit early. Taking profits and paying yourself for the work are not rules to help prevent a loss. I see how you could add that in though. I have a separate rule list for profit taking. Every good nursing home can help you with that. Up to the point when your seat has an integrated potty like in Idiocracy. That would be a very important rule for some people lol. I have it right above my setup. The more I look at it, the more ingrained the rules become. Again, this is what works for me. It doesn't apply to every trader and their style. Check my post history. I talk the talk and I walk the walk. At least you are following your plan! Sticking to what works for you is important. Maybe you just weren't in for the money but for the experience and the booze! I did this with a 400% winner today watched it all piss away was kinda sad. Need to stay away from options for awhile. Theta kills lol For some reason I do my best trading from bed. Please elaborate! And then everything turns to shit?.. Hard pass! Stop might not have hit. If you have the power to wait for being break even then you have the power to not cry when you lose bigly! :) I have a trading journal right next to me. This is just a piece from it-- something condensed to help others. ""Missed money is better than lost money."" Long-term, my friend. Long-term results. And also, you can set stops on short trades. Support/resistance gets swapped. The plan remains the same. Sounds good, bud. Thanks for your input. Referring to yourself as one ""of the best traders"" tells me otherwise. This is one of the best comments yet 😂 Umm.. what?! Can you rephrase that? Im curious what you mean here.. Not selling anything. Just trying to help. Thanks for the compliment! So is your comment. 😂 Yes you can! Just stop trading. This falsifies your statement. You lose! Please rephrase! It *is* super subjective... because they're *my* rules. Ok! These are MY rules for helping prevent a loss. If they don't apply to you, sorry! The purpose wasn't to be ""one rule fits all."" Only for the hot ones! Step 1: Cry. Step 2: Hug dog. Step 3: Cry into dog. So you are one of those YOLO traders? :-) It sounds like you're still learning then. No, of course I've lost after making this list. This list was created in order to help prevent more losses from occurring. You can have the perfect plan, perfect setup, perfect entry, etc. Still doesn't mean the trade will be a winner. Yes, I think that's what a lot of people are missing here. It is WHATEVER WORKS FOR YOU. You can have a margin account and not use margin. Otherwise, you're waiting for funds to clear and this becomes difficult for people with smaller accounts. Most things get better with time. Especially red wine. Bruh, you do you. Edit: I read your comment wrong. It's not necessarily a ""what not to do"" list, it's just reminders. Lol! Thank you! This is actually messy compared to when I try to write clean. This one can definitely be taken with a grain of salt. If something is up like 200% on the day, but volume and momentum are still there, holding levels appropriately, etc... then I will probably still take a trade on it. This goes hand in hand with ""do not chase."" Yep! That's how quick something can happen. As I mentioned in a couple other replies, this is loosely revolved around something like that. Don't step away, even if it's going to be quick, without having orders set for when you're away. Things can change so drastically, so quickly. Did feel like you were getting personal though. Momentum can change and swing the other way real quick, and can see big percentage increases/decreases fast. Last thing you want is to buy the top of a 200%+ mover. Agreed! Whole different side of daytrading. They don't have to be physical stops. I think that's what a lot of people are missing here. Mental stops work as long as you stick to them. Check my post history brother Yup, I’ve been trading supply and zone with SPY weeklies and with the strategy I’m using I’ve been able to earn 1-4% daily consistently. Doesn’t sound like much but I’ll take the 80% probability trade for 5% profit over the 40% probability trade to try get 50% profit all day I've only done equities so far. How does one start getting their feet wet with options? That's the plan. Why am I always in 10 cents too early and cut my massive winners short ? Yea options is where it’s at if you know what you Are doing Or losing 50% in a minute. If you use 100% margin doesn't that mean you're going all in on one trade? margin is just a multiplier. Takes less cash to make money, but also takes less cash to lose money. The only reason to avoid margin is to lose your money slower, and most people on this sub lose money, so that's why they avoid margin. However, if you are making money (like profitable traders do) then margin is an excellent thing. Because it allows you to make substantially more money with less cash. In this market, I avoid margin like the plague Also unnecessary profits too How does it add any unnecessary risks? As long as you not forget to factor in margin when it comes to max loss per trade and scale the position accordingly, you have no problem using margin. Margin actually is a must have. Please check your math and ask if you have any questions. You Sir, are missing out! you can manage that options/risk just like straight stocks I wouldn’t use margin to learn trading options in this insane market. Rookie question: Sometimes the trend is different on different timescales, e.g. bearish on the 5m and bullish on the 2hr. Which one is your bigger friend? My assumption is that it depends on how long you’re happy to stay in the trade; < 2 hrs, follow the 5m trend \> 2hrs, follow the 2hr trend Or am I horribly wrong? Better to be late to a trend than early to a reversal. Volume and price action. Haha yep I hear you! I start waving one hand frantically which I think means ‘go away please’ - doesn’t work haha Earplugs - I’m definitely trying this! I wear over-ear headphones as well. Wow you made several mistakes by posting this my friend. Soooo.....the floor gets a little wet...lol Well I have a rule regarding that: ""Never leave your position alone"" But my timeframe is quite small. Well except for ruling out margin. Makes no sense mathematically speaking. But if it frees your mind, more power to you. But isn't a systematic plan a set of rules to follow. They go hand in hand. Doesn't matter which ones are there. If they work for the user and result in the desired outcome, then who gives a shit what they are. If they work, they work. Yeah, but: WTF! But honestly, options I like to use for swing trades but not for day trading. In the end I just have not looked into it. That comment was because everyone here has something to say about how this doesn't work for them, these are dumb rules, etc. If you don't like what I wrote down, keep moving. Simple as that. As I said in the OP, I hope this helps someone. It helps me. Period. Great answer! While trading intraday I risk 1% per trade, with a daily max loss of 3%, and a monthly max loss of 10%. Please don't follow this... So actually you feel your position size? That is bogus my friend. The correct size is always what you can handle and what your (strict) risk management allows you to use. For this I like to also tell my guys to “sell into strength” don’t want for it to top out and be coming back down when scaling out because you’ll start to get all the emotions like “did I hold too long, should I wait and hold longer” and it’s good to leave money on the table for the next guy. So scaling out while selling into strength gets you the best exits Thanks, I really appreciate all your tips. You do have a beautiful penmanship Great rules matches many of my own. How does scaling fit with the don't average down rule? So many traders are in the money only to hit max loss I don’t play that game First thing I buy when I go green Nice, what do you mean by scale in and scale out ? So does my wife /s So you just missed to write it down. Which rule would you kick out to have room to put this supreme rule on it? He said here are my rules for preventing a losing trade. Then said set a stop loss. By definition a stop loss is a stop at a certain percentage or place of loss that you wish to exit the stock at. This would be a losing trade. :-). Be honest you put special effort in this. Or is your normal handwriting actually that clean? Must be a troll. If you trade and can't get behind most to all of these you don't have a clue what you're doing. I've heard most of these rules over and over again through books and videos of successful traders. [removed] It's alright, he got banned. I don't think that is what I am, I never risk nearly close to all of my entire portfolio on or two trades. I consider my risk management with every trade. I'm always prepared for anything that happens after my order executes, and I detach from all emotions. I play supply & demand / volatility, it entertains me the most. With cash account you don't have to worry about PDT (pattern day trading) meaning you can stop worrying about cutting losses and being punished for going over day trades & cash account options funds settle overnight. Win win No seriously there are a lot of don’ts on here 🤪😅 oh phew bro I was gonna say lol Then can I ask why those are in your rules if your not new ? is this like a challenge u trying to finish or what sounds professional. How do you calculate any rough probability with options? Honestly once you learn the basics you have to just jump in, start with cheap options first to get a feel for them. I read about them a ton but once I traded a few it all started clicking Start with learning, YouTube has a wealth of information. I also made an investing group for some friends who had questions, just a few people sharing ideas and trying to learn, dm if interested Learn about the Greeks and in this market: learn and utilize a covered calls strategy. And start with one stock that you already own and are familiar with its movements. I waited a year before doing options, which was good advice. It means if I have 100,000 of buying power I’m usually using all that I’m allowed with what ever margin restrictions are on it if the stock is say 200+. If it’s a hundred dollar stock than no I’m not but may scale my position to do so if the trades working well. I should note that I trade mostly to the short side where there are higher margin restrictions, I’m usually not taking the same position size long as the price action is a little different Margin allows you to take shorter moves and since I primarly scalp. So, if I can buy more shares, then I can take smaller moves = higher win rate. What does this mean lol both can yield the same outcome Yeah! They’re not human! You conflated that. That was just him sweating while doing honest work. Mathematically speaking, you're playing with money that isn't yours. I find myself using margin in the past to revenge trade, so it goes hand in hand with that. I take an L, then I use a huge position to try and recoup the loss... which turns into a bigger loss. ​ So, at the end of the day, do whatever works for you. Yes but a trading plan is way more specific to what the entry and exit conditions are, for example buy when price breaks out of a consolidation near the 52week range not something like ""follow the trend"". If the condition doesn't exist don't do anything whereas the later leaves alot of room for interpretation and emotional bias. I've spent my share of time juggling with these ""rules"" and I can tell you they're very hard to quantify and make adjustments on, one day you feel like ""buying the dip"" another day you feel like ""trading support/resistance"" and in the end you just end up with a bunch of random trades that don't follow any universal rules I like options too... but I am taking a step away from them at the moment. You can trade however you'd like. I daytrade options for 30mins to an hour a day and make about 5% a day Yeah, that's why it is not necessary to stretch the point. :-). Activate the deflector shields, ignore the hate and switch phasers to stun. And yes I meant the comment in a light and funny way. I salute you! I fully recognize you as a fellow trader! Respect! Even with a stop loss set at 10-30? If not what do u recommend coming here as a student This might be a common problem, I can never time the top. But I do start selling in strength. Sometimes I sell all my holdings in once or maybe in two increments. That means you are close to enlightenment. It takes a lot of self consciousness and awareness to come to this realization. I salute you with deep felt respect! Have you demonstrated that a trading journal directly prevents losses in some way? Otherwise it is not relevant... Ohh i see what you mean now! Yeah OP might have been better off just saying ""My Rules For Trading"". Still a good list tho 😉 I wrote another reply to someone else, this handwriting is actually messy compared to when I try to write clean. Life is an illusion. PS: I won! >I don't think that is what I am, I never risk nearly close to all of my entire portfolio on or two trades. I used a smiley at the end so I wasn't reasonable. ​ >I consider my risk management with every trade. I'm always prepared for anything that happens after my order executes, and I detach from all emotions. Fine. I also stopped doing much of the previous risk reward analysis at all (but I assess the potential and price action). I trade using 1m and do stuff that I learned is not how stuff should be done. But I am constantly positive and do +0.5% to 5% per day doing stocks without margin. I must do something right in the end. ​ >I play supply & demand / volatility, it entertains me the most. If you haven't yet, look at the full order book and what it means. Supply and demand are only half of the picture. Resistance and Support are mere symptoms. If I’m selling options I’ll use probability of ITM or if I’m buying I’ll build a trade and check the risk profile and adjust from there Start paper account trade options until you get feel for it. YouTube is another way to learn how to trade options New to trading, isn't that also what leverage does? or is leverage a different name for margin? Obviously but trying to identify the start of a trend is way harder than just jumping in mid trend and easily making money on a high confidence play. ""Hang on I need to take a sweat"" Cash is King dont lose someone else's money makes no sense Well you are thinking about money. Another rule you missed: First: Trade to not lose money. Second: Trade to trade well. (Third:) Never think about money during your trading session or you are doing it wrong! >You can trade however you'd like. Who is telling you that one? You can only trade however you do like until your money rans out. So its more like: 'You can trade however you'd like as long as you are not losing money constantly'. You can use them as a great hedge too. Just sayin. Nice set of rules though! Nice. So you leverage the wins you would have doing the same with stocks. Can you explain your general take on it. Do you trade options different than stocks or is it basically the same? Yes, I would never put 20% of my port. That's nuts. Your position size should be based on risk. The more risk, the smaller the position should be. People responding acting like proper risk management is a 20-30% stop loss. That is not proper risk management. The best risk management is to lower your exposure by reducing your position size. It's all relative to what you're looking at. My best advice for you is if you're down on a trade and you're stressing out about it, your position size is too big. I appreciate your bode of confidence and the knowledge you have bestowed upon me! May your P&Ls be greener than healthy grassy knolls! Yes it does. Used correctly it allows you to understand what mistakes you repeatedly make in what situations. Same is true with the winning moves. So it gives you a short medium and long term potential of altering your own behavior. It is necessary to refine your own trading method and especially noteworthy when things start to work against you. Then you should convert your handwriting into a professional font. A person who has mastered handwriting to this skill level deserves to get rich of it! Respect! same thing. What do you think about if not money? You Sir, are an exemplary human being. May you bring joy and kindness to this baren world and let us lower beings nurture on you light and wisdom! May you way be the way of a peaceful warrior! Salute! Thanks for answering! another question: Why instead of margin/leverage not just trade with a bigger account? Are there any benefits to it? Price action... Percentages. Trading is about increasing and decreasing your account size. If you think, I have 30k in this, I better not lose it, you should stop what you doing. You trade to trade well not to make 2k on a trade. When ever you put a immediate practical value on a trade, you trade differently. Your little bird brain kicks in and doesn't want to risk and let go of a position if it is invested and put a real life use to it. At least that is what I experience whenever I switch between virtual money and real money. You’re too kind! You make me blush! If your words are any speak of your character, you are one truly good person, and I hope the future blesses you with many impeccable opportunities! Cheers! Gotchya, I’m not a trader I just like reading about what y’all do Ah interesting, similar to playing poker then. Thinking about dollars gained/lost can make you overconfident or scared. Thanks for the reply Thank you good, Sir. I wish you a pleasant journey, we call life! Exactly!" "After 6 months of options trading, I’ve broken even",1919,https://i.redd.it/5z2bgqgbws171.jpg,"Well done, it's not easy trading options, you are up against the smartest traders out there, keep up the good work Yes, but imagine how boring those 6 months would have been had you had nothing invested The first major loss was from a yolo on pfizer calls. I bought the calls the weekend before the FDA approval was announced, and learned a hard lesson on buying the rumor and selling the news. Regained my losses from $GME luck, then lost it all (down to 450) again because I had learned nothing. Over the past couple months I’ve been focusing on only a couple specific stocks and their intraday chart patterns instead of trying to risk a random turnaround. Finally have made it positive and I don’t intend on losing all my money again. It’s okay I sold my AMC options early and missed out on $4000. It’s an emotional roller coaster for sure. You should definitely try to lose ~$500, that way a great looking cup and handle will have formed! That's how TA works right? You need to learn about risk management otherwise this will most likely happen again but a wealth of experience richer! daytrading options without 25k or a cash account to avoid PDT rules makes things so much harder. Id advise getting into a cash account so you can enter and exit trades without worrying. Edit:options only take one day to settle funds too! Edit 2: Wrinkle brain move would be setting up a ROTH in fidelity , this is automatically a cash account so no worrying about PDT, and enabling options trading. Will never pay taxes on gains and can take out money for cool things. Ive doubled my roth this year doing so. My chart looks very similar. I started with $6645 in the beginning of march and 2 weeks later I was down to $4249. I'm not even yet but I'm back up to $5852. My strategy was to start doing actual research instead of relying on hope. As you said, won some because of luck ..and you won’t see luck often. Good luck 😊 8% is still a good return, especially since you went about it in such an ass backwards way. Don’t discount 8%! It’s breaking even considering your effort, but you’re still winning how I see it. That’s Resilience 💪 Wow. Good job. Really. It’s harder than it looks man. Not even year. Tax man still needs his cut It's hard to dig yourself out of the hole, takes some grit I’m only up 200$ after trading options almost full time fir four months. Pretty sure at this point retail option trading might be a losing endeavor. Time value lost is massive. And—-exhale—-buying 10k of SPY four months ago and simply holding would have beat this by so much. Hard to trade against AI algos...I might just wait fir a SPY dip , but it, and get a new hobby! Mood This is the funniest fucking thing because it’s me Even is a win. Keep learning bro. I am just loosing money since I started You've made it to a level most won't. Congrats! You're getting smart again 🤔 *bonk you* Well done man. Keep it up! But you learned a valuable lesson and made friends along the way. Cue the after school special music. The power of holding! That looks like the top half of the us going into canada Congratulations, but also fuck you lol I dream about the day I would break even. Not much hope though... That graph looks awfully similar to AMC/GME daily. Get in GME today and you’ll rocket What app is this? Wow Robinhood! So you will lose in the end, you know that right? The COMMONWEALTH of massachusetts is suing them. Thats game over from a judicial level if you didn't know. …and your phone needs to be charged Assuming you held things for less than 31 days and took losses, won’t you be actually in the hole because of taxes? You would start to find yourself in the green if you took all your investments and put them in AMC right now. #ApeArmt 🦧✊ The game isn’t for everyone. Unless this is disposable money, put that into VTI and set it and forget it. I suggest you transfer money out of Robinhood. It is fucking scamming me. I tried to sell my amc put contracts multiple times today and it wouldn't get executed. a ledgend It’s an up an down game. Down 3 > up 12 > down 6 > crawling back out That’s ok I missed a huge play by one week Congrats! GL Since you have 2k does that mean you can only trade 3 times a week? Better than most This is not the way, this is the same as everybody who isn’t option trading or doing anything else in fact , you should at least aim for a sizeable loss to make it all worth your while , this is neither here nor there , neither a big gain or big loss ! Do better ! How are you learning options? Congrats! this is the way That’s honestly something to be proud of for starting out. Kinda like kissing ur sister.l0lz Try #DOGE W Learn from ur mistakes and do better That’s great! I’m trying to get there myself. Did you steal my screenshot. This is almost the exact same. Congrats. All bs aside, congrats on getting back even. It’s not as easy as it sounds. Good job Same 😕 BUY SOS GEVO BNGO Investing in AMC is a good idea sir, in my opinion it's a very stable investment. This is obviously not financial advice. Peace from 🦍 Congratulations! Kenny Rodgers - The Gambler You didn't do it right. You were supposed to lose it all! HAHA I hope to one day be in your shoes. Only 30k left to break even! My goal is to also break even one day Looks like you broke even a few times lol Is options trading difficult? Or very risky? nice. Have you thought about getting a tastyworks or fidelity account for options trading? Robinhood is a great platform to start with but idk if you wanna stay on it. It’s be a little easier if it weren’t for that darn PDT rule :( [deleted] “Smartest traders” or market manipulators? smartest traders? hell no. ☝ [deleted] You should YOLO some AMC calls with a short strike date I've tried doing all sorts of things in the market since Jan. The most stable strategy I've developed for myself is to just buy 100 shares of something with high volatility and high institutional ownership, then sell an ATM call above the price I paid for it. If I paid 13.23 per share, I'm selling 13.50. ​ You will be paid for offering to sell those shares at a profit, and if they expire ITM you will automatically get money added to your account and they'll remove the shares. ​ You do nothing but sit on your hands for most of the week, which is the hardest part of this system. It's REALLY easy to trick yourself into buying the contract back, so just ignore the stock all week. You don't care if it goes up, or down. Come next week, the only thing you care about is whether you need to buy a new stock, or sell that one again. ​ You also lower your cost basis by doing this. If you buy 100 shares for 1,000 and are paid 200, but the shares don't sell that week... you have now \*technically\* paid only 800 for those shares. Your cost average is lower, so your escape number is lower as well. Now you can try to sell those shares at the 8 strike. Let's say you earn 100 for that, but the stock falls to 7. Next week you've only paid 700 for these 100 shares. ​ Do you see how each time you fail to sell, you actually lower your ceiling? If you fail to sell those shares a few more times, you can recover that 1,000 entirely which then makes those shares 100% profit at any price you choose to sell them. (Personally, I'd keep selling ATM calls until they finally go away) How many Trades? And what is your win/loss ratio? [removed] I read this and I am hoping I am reading my future. My initial mistakes will take 2 months of consistent tiny gains to recoup. Switching from wsb to thetagang and daytrading subs has helped me. Now that you've got a pattern and system, do you find the stress is less? No one ever lost anything by taking a profit. Damn... I know that pain all to well All perfectly designed by Wall Street. Anytime you buy any of the Robinhood 100 most popular stocks be prepared for a wild ride. Those are the stocks hedge funds fuck with the most. I missed out on 15,000 if that makes you fee any better. Its easier to just think you got some profit and move on. The alternative is you not sold at all and it dipped Missed out 10,000 so far on a covered call amc 😞✊🏻 I also sold all of my AMC at way below $13 for a profit so small it's not even worth mentioning I missed out on way more then that. I still made a profit though. pretty much, far as i can tell TA is just snake oil reddit ppl like to sell to new traders Experience is the greatest teacher [removed] You’re welcome A terrible one - don't use it Not if it's cash. Learn LEAPS and the wheel strategy. They tend to have good results. Cash account will avoid this. Options settle overnight so you can trade daily with no PDT rule. Switch to ThinkOrSwim bro I know robinhood is simple and easy but once you can day trade freely and learn how to use tos you’ll love it What's PDT rule? Do options have PDT rule too? Or just stock margin trading? Ya fell below the threshold on the last big dip a month ago and now I missed this big comeback. I want pelaton at $82 so bad. Even with option trades? If they’re making profit, is there really a difference? Could you explain this “savings” every talks about? I’m new to trading The point is to play with money you can afford to lose. I did that and doubled my money just now lmao. bought them yesterday expired today. What is a short strike? This is hilarious I thought I had most jargon down until I read this 😆 Sounds like it makes sense, and of course amazing if it works if stock goes up OR down! I’ve only been trading equities so far, but this looks like a great entry into options! Let me go over an example. Let's say you buy 100 shares at $20 and sell 1 contract call@20.50 for $200. Your cost basis is now $2000 - $200 = $1800. If the price goes down to $18 do you sell another call? And then, if the price keeps going to $16, another call sold? At $18 you would have lost $2000-$1800= $200. But because you sold that first call you are actually at break even. However if you sell another call you lower this cost as well. If you keep selling calls as the price goes down you lower the cost, obviously. What happens if the stocks starts going up and you are assigned the last call you sold? Shares are sold automatically. Here is the big question: What are you doing about the other calls you sold now? Now all your first sold contracts are naked. I guess you will have to buy them back. Ah, the Wheel. What stocks do you like for this? And is the reason you choose high volatility because if you fail to sell for weeks (even to the point you recover the entire price paid) then you still have a chance at selling the stock at some point soon? I sold my $30 GME calls 2 days before the squeeze started for an 80% loss and bought shares with it. Missed out on $2M in gains but still made a six figure profit from the shared alone Haha TA is all about price action. That's all I use and i do pretty well. Oh TA isn’t a real thing? I’ll go throw all my books from the 70’s out then Nervous cult member found ^ Ok thank you but can you suggest a good platform for me? Someone here told me it still applies regardless the other day https://www.reddit.com/r/Daytrading/comments/nkalzo/comment/gzdcvl9?context=3 I didn't know options settled that fast You can’t trade options with a cash account on RH You can’t trade options with a cash account on robinhood It's the keep retail traders poor rule. Pattern day trading. Trading an asset in the same day (buying and then selling) more than three times flags your account if you don't have 25k equity. Options also have PDT Easier to eat when you control the food distribution. Doesn’t take more intellect. +200% here. Every day this week I told myself it can’t go higher but damn. Meme stocks OP The date of the option is set to expire shortly. Is this the wheel: selling puts and then selling covered calls? JESUS. yeah you win.. Yea anyone that thinks TA isn’t real is a moron. You can draw a simple regression through most daily, weekly or monthly charts and get a clear picture for resistance and support levels that trading will close to confirm. It’s not perfect, but discrediting it is like saying you don’t need to pay attention to the cards dealt in a poker or black jack game and just worry about your hand...bad idea. TDAmeritrade It depends on your needs. Research the top brokers in your location and compare what they offer and how it will suit your trading needs. I'm not 100% sure but I think it's fine when you use your own cash. From your link it looks like it's only different for trading options. Pretty sure you just have to turn off the default RH option that let's you use unsettled cash to trade right away to be able to day trade under 25k. Plus you can always swing trade no problem either way. Options settle overnight on a cash account. 10k settles spend 9.8k have $200 left after closing everything. Now have 10k at open tomorrow to repeat. Careful to not go into unsettled is all. Robinhood doesn’t allow this but TDA and Fidelity do. They don't. You'll have to take a break until funds settle. Yikes, I didn't know that. Yet another reason to ditch RH, if the meme stock fiasco wasn't reason enough. If you can’t make money trading 3 times then this isn’t for you True that. My account exploded upward after i got past that threshold. I still am worried about it though and i have plenty of buffer, but I only trade options. Isn't it even worse? I think it's 3 trades/week. Even with option trades? Worth noting that most brokerages will allow 1 reset of the PDT rule if you claim ignorance. Thanks. Arse. Ok then, options are: - Cash account - Swing trade on margin - Trade with CMEG oh yeah meme stocks are very op. I wish I didn't sell my 3 amc shares lmao. I play with small amounts hoping to grow it and so far I've done that. but yeah meme stocks are good but everytime i buy I'm like shit I'm done. like yesterday I was like I'm gonna wake up to no money. then boom doubled yup, there's an entire sub dedicated to it /r/thetagang Yeah. I haven’t had a ton of luck with it. My underlying dips so low that I may as well have just gone long and hold. But I’m still intrigued. Maybe just need a better underlying Thank you the day trading rules don't applies if you are in a cash account HOWEVER.. when you sell a stock, it takes at least a day for the money to ""clear"" and be back in your account as available to spend so effectively, you are even more restricted than if the day trading rules applied. Let's say I have $1500 in my account. I put it all in a stock for an intraday trade... I buy.. the stock goes up, I sell that money (let's say its now $1600) won't be available to buy something else at least until tomorrow.. so you're done for the day you might as well have a margin account and abide by the ""3 day trades in 5 days"" rule.. what I usually do is buy something late in the day for an overnight trade.. then the next day I can sell it Or you know, sizing your bets and not going all-in. They do for me on TDA. I can max out my account and trade the very next day if I wanted to, as long as I traded options. They do, options settle by the very next day. What options do you normally go for? Do you research it? Or just kind or are you doing ya etc? Looking to go into day trading but so far all I’ve been doing is pumping my account lol 😂 I think you can technically get flagged with three but 4 is the hard rule Yed What’s a CMEG At this point it’s easier to trust in them holy shit, thank you! i'm a penny flipper who wants to get better, and i'm ecstatic I understood enough so far to distill the strategy into the main options trades. No problem. Sorry for not a direct answer, but it's hard to recommend without knowing location, experience, trading needs, etc. Right... but if you have 5k or 10k in your account to begin with you can do more trades with the money you didn't use yet So you can do three trades each day? Given you divide the amount available into three trades One more question: Can you sell a call against your buy call? Ah, yea I meant 3 trades/week is the max allowed, if you are below 25k. CMEG is a broker based in Trinidad and Tobego, outside U.S. financial control so no PDT rule. Also offers 6x margin which is one of the largest (and highest risk) Fees are a bit unclear, but has potential. well I yolod 600 bucks in a 30 dollar contract expires next week yeah definitely Lol if you’re a penny scalper you can make serious cash if you have the capital. Well, I can trade as much as my cash balance allows. And I’m not sure about the multi-leg options as I just purely scalp. I’d imagine it would be broker dependent, though. Yeah, the 4th trade is what flags you for PDT. It’s 4 or more trades in 5 business days. LFG!! I’m actually holding 39c for next week still that I bought at $2.56 🚀 How so? I'm still learning the ropes and need a strategy. *5 rolling business days. Bullshit ass rules. Fuck us poors in the disguise of protection, right? Lol. >LFG!! I’m actually holding 39c for next week still that I bought at $2.56 🚀 Ight I'm glad I'm not the only holding the bag on a call. Lets go! Hopefully we will see massive upside next week. This is quite a big dip. YouTube candlestick pullback scalping. Madaz money comes to mind. Ericgreenscalping has a few videos of some live plays. u/phihix if you need motivation. He gets a lot of hate but that’s what comes with being a bad mofo haha Exactly. If I wanna gamble my life away, who’s the government to say I can’t? Lol seriously, I make my own money and I should be allowed to do what I want with it within the legal limits. Obviously things like prostitution rings, drugs, etc that affect others negatively should be outlawed, but why forbid me from taking a gamble and paying someone else’s bills? Lol Nah I rolled it at a slight profit to 06/18 40c which is also currently up a little bit. Since I didn’t wanna sell my meme stock calls yet, I rolled them forward since closer exp calls gain more from those big surges They know money equals power. They don't want us rising to their level if we figure out and master their game. you think we will see 30+ next week? Maybe late in the week but Im 99% sure June 14th and 29th let's go in the money!" 2021 lessons learned so far: risk management is key. Never double down in a losing trade. Single and doubles are better than seeking home runs.,1738,https://www.reddit.com/gallery/luixql,"Hey all. I’ve finally begun reaching some consistency in my trading this year, however not without some major flaws in my performance still. As you can see, I’ve had very few red days this year and far more green days. The problem is my red days have been much larger than my average green day. This stems purely from lack of risk management. It is tough to see the day go from green to red for example and that can trigger lots of emotions that lead to ignoring rules you’ve setup for yourself. I’ve since added a $500-1k max loss rule to mitigate any one day from blowing my account or losing a significant portion of gains. After implementing this rule I’ve been in a much better headspace and just a few days ago ended my green streak, but I kept the loss much, much smaller and manageable this time. My advice to anyone who struggles with consistency: stop averaging down. Stop using your entire account in one trade. Aim for singles and doubles, not home runs. Set a max loss for the day, and don’t try to have a profit target of “I need to make XYZ on the day!” because it will set you up for failure. I’m looking forward to heading into March with this new mindset and discipline. My goal is to not have any single red day that is larger than my average green day. I have high expectations for myself and think it will be a great month if I stick to this rule. Wednesday 3 was a tough pill to swallow. Eliminating those days are key. Apparently the more trades you make the less you make What is your working capital and size positions for each trade? Your first day of the month was your best day with the fewest trades. Looks like you hit and exceeded your target quickly and walked away. Then you were excited (emotionally) the next couple of days for another big gain, and you had your biggest loss. It’s probably safe to say that you not only need a profit target and max loss for risk management on each trade, but you should do the same for the day. Have a profit target or max loss on the day at which point you stop trading and walk away. Thank you for sharing! Jesus Pete, 38 trades with a $600 return, you're working yourself to death. you've made more money on a 2-trades day than the 80-trades one. 2/17 $5 after 48 trades. Are you me? It would be interesting to know what your trade plan is, with your defined edge,that yields so many trades. How do you filter all tickers down to the few that you will trade in a day - and for each you decide to take a trade in - what are your entry, stop, and exit criteria? Daily loss Limit is a great idea. There are trades every day and when a day is not working for your edge it is best to put it in park and do something else and not allow revenge trading to creep in. If you keep your rules mechanical and have the discipline to follow them you’ll be around doing this for many years (assuming you have an edge in your plan). Nice work dude. That big red day took a while to recover. Do you have a 500-1000$ daily goal or do you just stop once you run out of setups? 108 trades is insane What is the application you are using to track your trade ? Sorry, bit of a noob here. What is your rough avg position size? I’m struggling with similar things as well, gonna start setting a max win/loss before I walk away for the day, as well as a rule that if I have three losing trades in a row I walk for the day. Trade management is key. Never double down. Ever. Any one instance can really kill you if the stock plummets. One key factor to keep in mind is to be patient. Give the trade time to develop. Give it adequate room or you'll be stopped out by noise. When your balls are getting pinched try not to sell out of the entire position. Leave a small peice on. Usually it will come back into the trading range. You might even end up making a bit back on that peice. wonder what app is good for day trading? RH require 25k Great strategy I know it sounds redundant but you’ll be surprised how many traders have little to no strategy. MOST IMPORTANT- TAKE YOUR STOP LOSS- Market don't give a flying bat fuck about your position. When you are wrong you are wrong take it- Get out- Find a new entry- If there no pattern there is no trade. Don't risk more than 5% of your account a day. I would look back to jan 21, and feb 03 and try to see what you did differently there and eliminate that. Other than that, it looks like you are very disciplined. 5 losing sessions out of 45? Keep up the good work, and best of luck to you! What helps me walk away from a loser is thinking of it as a gain for taxes. You have to sideline that stock for 30 days to keep it from being a wash sale, which can be annoying but helps broaden my trading so I don't get fixated on one area that will eventually stop cooperating with my strategy. Plus, come tax season you'll appreciate those write-offs. How do you manage to make so many damn trades in a day? This is the problem with baseball. Rating are dropping YOY because the analytics guy convinced players to hit the home run to make the most money. Reality is settling in and GMs aren't falling for it. Without account size or positions, this posts are worthless. Making this on a 25k account is different than a 100k account 80!trade in one day is insane. Most pro trader only trade 4 stock in day. What view is this in TOS or what software? Thanks! What would you say is the difference between averaging down, and doubling down? Great to see you banking. Keep it up, bro. What times of the day are you trading at? When do you know a losing trade is a losing trade though. If you’re averaging down or DCA or buying the dip, it going to happen What stocks are you trading specifically When you lose, you go all in 1/23, 2/3 revenge trading? have you implemented max loss days since that -6k loss? I find it helps a lot Thats impressive man. What are you favorite setups to trade ? Could you tell us anything about your strategy? What do you use to track your stats? What calendar app is this?! Do those numbers reflect commission and ecn fees? Averaging down usually works for me... that's actually where I make most of the money. Unless you plan on averaging down and selling on the same day. How are you doing up to 59 trades per day? Are you using a bot or some automated trading solution? I’m interested in having more granular control over future trades. Also, how are you planning for and/or managing your short term capital gains taxes? Numbers say it all. $1483/46 trades=\~$30 ish/each. Looks like barely break even. Your time spent on it was for free. Lots of time spent. I didn't read all the comments but what program is the screenshot you have? Just a calendar you keyed the data in or some app that actually tracks the exact performance? Why the fuck are you trading 80 times to make $700? What’s your account size? Either way you need a better strategy. Even if you were scalping you should be making more. What app/page is it? Margin or cash account? What are you trading amounts are? Is this in webull or another tracking app? Where do you find this calendar? I can’t agree more. I am doing a demo for ftmo and after reviewing my trades I could have avoided so many trades. I ended up passing because of a home run trade but even without it, if I wouldn’t have insisted on losing trades I would have passed in a better way. App name please What trading platform are you on? What’s your setup? I hope you can explain a bit or maybe even a pic What app are using to track progress? I've seen a similar calendar posted before How do you do so many trades I always have to wait for funds to settle Do you focus on 1 ticker or multiple when you are scalping? how much money did you start with ? I shrink my portfolio down to around 400$ and I’m underwhelmed to how I can make big money with such a small amount right now Great advice! What software do you use to keep track of total gains/losses per day Fist off, nice work! That said if you intend to primarily scalp, can you recommend a platform in which to do it? Thank you. Whats that app? Is it directly in your broker or is it to track your journey? Where can I get a chart like this for myself? Thanks! I still don't know what risk management is can some eli5? Any books or videos I can utilize? That's a whole Lotta commission paid if you're trading futures I find when up on the day closing the broker helps. Too many trades often leave me red Is this your actual calendar? Are inputting all that yourself or it updates automatically??? What magic is this, teach me your ways lol And I thought I was a killer making 10 dollars! Lmao How are you keeping track, the display looks pretty neat what software is that so you're a gambler. And not even gamble wins lol Whoa how much profit did you make in a month? I’m looking to get into day trading but I don’t have a lot of money. And where do I even begin to learn how to do this? What app is that? I’m new but it seems like risk management is the #1 thing most of the successful traders on here advocate. In my limited experience I also like to practice “Hubris Management”. It’s easy to want to let it ride when everything is going my way. I’ve been able to mitigate that with trailing stop losses but do you think it wise to have a set exit point regardless of what the stock looks like it might do? I like the days where 1 trade gets me $15000. Lol How much capital do you operate to have an outcome like this mate ? Looks like too many trades to me. Focus on the best setups...quality over quantity. So you are doing like 56 trades and get like $550. I would imagine commissions and routes eat up a lot of that. Are you like entering and exiting immediately into momentum? What is your targets like .05? Just seems like ALOT of trades Good job, but work on your drawdown even though you only have few of them but they they are more than the largest gain. How much capital is being deployed any given day here? Like Tuesday the second. How much is being risked for that return Does the commission hurt you with the number of trades you are doing? What program is this on? How much capital are you trading with? What software is that screenshot from? Make sure you are using risk reward %'s that -6,600 should have been stopped way before that. For me I use 5% as the maximum I'm willing to lose a day- If it 100k account 5k is the max I lose. I then risk 1k a trade- So i'd need 5 loser in a row- This will help you stop- 500-1k max loss? We need structure we not a plan- Not just a random number- Why 500-1k? What % Is this. How much are we risking / trade? Need to build a plan goals and keep it simple. Emotions will rule you if you dont have a plan. What app is this? Apologies in advance for the newbie question: what software are you using to track your trades in your calendar like in the screenshot? Hey I'm still very new to all this; can you explain what you mean by ""Single and doubles""? [deleted] Can you tell us how much your investment is in. These trades? Your bankroll? Said it before but it seems like these posts are irrelevant if we don’t know how much you’re trading with. Nice job, you seem to be consistently profitable. How long have you been day trading? Does your account have over 25k in it? Is that how you are able to make so many trades? Thanks for the info! What difference does it make how much of your account you use on one trade? Your risk is what’s important. Most definitely. Just posted a comment blurb below, feel free to look. This is my biggest weakness thus far- having one day where the ego, emotions, lack of risk management get into your trading and a whole weeks or months worth of gains is lost. Eliminating this event from happening will be monumental in my journey. He had to take some days off to mentally recoup lol That first day is honestly the most impressive. He made 2 trades, gained $2600 and then called it a day. Very hard to quit while you’re ahead especially if two trades made that much money it’s so easy to get greedy and think the streak will keep going This this this. PDT account, I keep roughly 25-30k in it at a time. Position sizes usually are anywhere between 3-10k of my capital in a given trade. Only thing that mathers to be honest, no frame of reference otherwise. [deleted] Yeah, overtrading is still a weakness of mine. However, trading often and for small profits is most of my strategy. I’m slowly refining it in a live environment and so taking more trades to see which perform better and which don’t is something I’ve been doing. In March I plan to take way less trades and focus on the setups that I’ve learned work best for me. Still much better than a day in the office Still easier than manual labor and about 3x the pay :P I don’t have a daily target, though around $500/day is somewhat of a goal. $1k+ days and I’ll usually call it a day sooner. Lots of days if I just stopped within the first 30 minutes I’ll be better off. The days you see 80-100 trades, probably half of those aren’t needed, for example. Many of those are out of boredom and breakeven trades. 154 on January 13th lol TraderSync Like everything else in life, It depends. If your positions size is small enough, you're conviction on the trade hasn't changed and you have enough time then doubling down wouldn't be a bad move. Webull. Cash account (not margin) FINRA requires 25k so any brokerage will at a minimum set that limit. Almost anything other than rh. Thank you. Yes the 21st and 3rd were days I broke my position sizing rule and basically averaged down into bad trades with pretty much my whole account. Completely reckless. I’ve made changes to ensure I don’t get to that point again, so we’ll see. The write offs are only up to $3,000 in losses if you don’t have TTS/elect mark to market accounting. I’ve got a stream deck I use for scalping and it’s too easy to jump in and out of trades. Leads to a lot of scratch trades (breakeven) as I exit positions quick when i get in too early or see a signal to get out. Sometimes I’m taking 1-2 trades per minute candle if a stock has enough volume and movement. The trades add up quickly with my strategy! However I’m working to take the A+ setups only in March so will post an update at the end of the month how I do (and how many daily trades I take) I keep my account size between $25k-$30k at a time. I agree in general though, will probably do a video monthly review for March. Thanks for the feedback. 108 trades in a day on Jan the 8th... crazy aha if his username is anything to go by, he is scalping Emini futures. Funnily enough i also planned to do this for starting out, as trading just a single contract of E-mini REALLY limits any potential losses you might see (like max -25$ or -50$), but of course also limits profits, but that part was fine by me since im planning to start with 500-1000$ account. however ive since learned that the Eminis are not really beginner friendly imo. Really hard to predict any clear moves. Will try stocks instead. I view averaging down as a planned position size that you had in mind before entering the trade. Doubling down is putting down twice the risk you originally anticipated, and without good reason (basically just “hoping” it’ll work out) Aren't they the same? Averaging down is what shills say on message boards to pump their bags. 6:30am to 7:30-8:00am PST If the volume is fading and bids aren’t holding and dips not getting bought up (no bounce), it’s a big sign the trend is starting to fail/reverse. 1.) the highest volume/percent gaining small cap runners on the day (I.e. millions of shares traded pre market, 30%+ overnight gap up). 2). Set of 10-15 large cap stocks i trade options on, depending which one has momentum/news/catalyst for that week Yup those were two very bad days of breaking rules and doubling down. Yes - max loss is $500-1,000 now. Haven’t had a big red day since implementing that. Hoping to maintain it. Small cap stocks HOD (high of day) break momentum scalps Small cap stocks dip buy trend scalps Large cap stocks dip and rips in the morning Large cap stocks opening range breakout Large cap stocks HOD/LOD or key level break Bull flag momentum breaks As you see I trades lots of patterns but it is all centered around scalping and the same strategy. If you enjoy it, does it matter? Lots of break even trades in the mix as I can get jumpy sometimes and pull the trigger to quick, and exit for break even or small loss. Still working on that. But yeah I aim for small gains each trade. Let the win % create the gains. TraderSync DAS Trader hooked up to TD Ameritrade TraderSync Margin account over $25k Put your $400 in LTNC and check it in 2 weeks...you'll have more to play with. I like schwab street smart Trading primarily stocks (commission free) and some options, so not futures. 30k PDT account Can you sentence bro? I hope your using trailing stops The reason I personally don’t use percentages (yet) is because I could be down 30% in an hour on what was meant to be a scalp, but that 30% might only be $100. Another scalp i might be down 3% but that might equate to $1,000. I don’t put the same initial dollar amount towards every trade, the more confident I am in the “bet,” the larger the bet I’ll place. The smaller the loss (in dollars), the longer I’ll let it ride. I assume this will end with me being rich, broke, or in exactly the same place. That’s the pattern my portfolio takes anyway so might as well have some fun gambling on the side. Trader sync There's also tradervue, which I've been enjoying Like being satisfied with the smaller wins (1-10% gains) instead of the (possible) 1,000% wins. Baseball analogy. Don’t get too greedy. Get out with some gains before they turn into losses. It's in his username . :) That's not a bad way to do it. I don't trade futures but I use it to give me an idea of the trends before market opens. When I pick an option I use futures/trends over time and track the projections on this [options calc](https://infabric.io) to see which is my best shot It is relevant though, because you should be thinking in terms of percentages or ratios. The idea of the post is just to use risk management to not blow out your account with days like he did. It doesn't matter what you're trading or how much of it, that principal still applies. They're only irrelevant because you don't seem to understand the point he's making. This post isn't a ""look at how much I'm making!"" kind of post. He's simply showing that he let one red day negate many of his green days. You don't need to know how much he's invested in the trades he's showing here in order to take away the key point he is trying to make: Have plans and strategies in place to mitigate losses and effectively manage your risks. He's offering advice, not a template you can copy. This game is more emotional and psychological than anything. I would set a strict loss limit. Especially if this happened in between 9:30 and 12. Trying to get back in the game after 12pm is where this to happen for me. I’m learning to just take loss with grace and realize some days the opportunities that make sense just aren’t there. Myself and my trading partners have a rule between us. We make as many trades as we want during the day until you have a losing trade, then you call it quits for the day. It helps you build on your wins no matter how small and keeps you from digging a bigger hole when you have a loss. Doesn't mitigate the loss, but for times like that I like to consider it the cost of education. Won't do that again, will ya? what's your scalping method? do you go all in, all out? or all in, partial out with runners? Strange to think I earn £75 a day compared to this dudes £2k day... fair play to him, think I need to get my shit together aha Well cant you just do summarize? This. Stick to your A+ setups. Don’t get overconfident thinking you can make money with any stock at any point. Some days you’ll make 500 and some 1500. Take what the market gives you with your best strategy. Do. Not. Deviate. Water the flowers, pull the weeds. That's all I was really getting at. That would be too many moving parts for my tiny brain Thanks!! If your positions size is small enough - I agree with this. im still using rh cuz of my options.. been tryna learn how to use webull.. how long do you think the transfer will be? % wise how what are you sizing positions at? Any particular mkt cap sizing or names youve isolated reliable patterns? 3K for ordinary income but your capital gains can be offset by capital losses. The hope is that you have more gains than losses so you shouldn't need to worry about the 3k cap. Thanks, I usually only have the attention to focus on 3-4 stocks at a time haha It’s definitely overkill and not necessary. Lots of those trades are breakeven or small loss and also small gains. Working to improve this :) So a mixture of penny stocks and weekly calls on big techs Ive been strict with my max loss per day, dont want to dig myself a deeper hole especially when im on an emotional tear. Ok Fuck my ass think I’ll take you up on that. I hope you’re right! Nice work dialing it in. I also learned the hard way Buy low, Sell High- No Sentence Of course- I like to trail under pivots for longer day trades- depending how good the pattern i'm playing and where it is and how far empty void space it has to run. Cubs play their first Spring training game today! yeah damn especially in this economy Actually I don’t trade futures at all any longer, my name is kinda deceiving. I only trade options on large caps (think $TSLA, $ROKU, $NFLX, etc) and whatever small cap runners are in play for the day. But it’s impossible to get an idea of percentages and ratios if he doesn’t provide those details. He could be trading with 250k a trade and making this or 25k and making this. Which one is more impressive to make 1000$ a day or what have you? It changes if these are high risk or “low risk” trades. It’s an important factor. Read my comment further down in the chain. I’m talking in generalities with all the posts with this format. More data and context is hardly ever a bad thing. I’ve lost the most in the afternoon. Especially if I’m already down. You get into chase mode. That for me is when I just hang it up for the day before I self sabotage. It takes practice. Lol From own research the most volume and action is in the morning. Although there are still opportunities after 12pm , it becomes more thin and risky , in my opinion to jump in. Do you mind elaborating a little about the part about 9:30-12 vs after 12? Thanks. I'm new to this Im studying on how to day trade and im going to paper trade for a bit to get a hold of the trading concepts. Im just wondering if you have a set goal for the day/week/month. If you hit those goals early then why not just take the afternoon off? As a mechanic having to assemble things even though logically Part A goes into Part B but for some reason its just not working out and im having a hard time. So I just step away take a break come back and for what ever reason the mechanic gods are ok with things going back together with out issue. what im asking is if the trading isn not going as planned then why not just log off for the afternoon and come back tomorrow? Average 5 to 7 trades a day at 50$ to about $150 profit each with slight variations. You just have to set some strong parameters and stick to those religiously. Based on what you've said do your winners tend to be smaller? How many trades do you usually generate in a day? What if your 1st or 2nd trade is a loser, you done? If I'm making 75 a day, i'm quittin my day job. I don’t know your financial situation but I would guess that he has more money and makes more trades daily than you do. I would love to be making 75 a day! But I’m just now learning about day trades so I’m taking it really slow Well i make £0 a day and still can't get my head around options (not traded yet, still learning) so you're well ahead of me. I'm aiming to start dipping my toe in next week I believe you can summarize the short term and long term on your schedule D and then attach the detail. Love this analogy! No clue I’m new and literally just signed up yesterday. gl! >ne who struggles with consistency: stop averaging down. Stop using your entire account in one trade. Aim for singles and doubles, not home runs. Set a max loss for the day, and don’t try to have a profit target of “I need to make XYZ on the day!” because it will set you up for failure. About 7 days if you are clear of margin and everything settled... I size at about 10-30% of my account typically. So on a $5 stock that means typically 500-2000 shares scalping for 5-10 cents on dips, or 20-30+cents on momentum upside trades. Or 3-5 contracts of a large cap stock. Small cap tickers change everyday based on what has volume and highest gap % from trade ideas scanner. For options I probably trade $TSLA half the time just because it has such clean price action and chart patterns follow through much better than some other large caps. Exactly :) I'm buying more tomorrow...but buying right at the open when it's gonna go stupid. Would hate for it to just run...and run...and run...then just chase it like a mofo and miss gains. If it dips, oh well, at least I'll have a solid position for the ridiculous run. Would you be willing to explain what you mean by this Really like your style I do the same thing it’s worked out well for me. Would also like to hear an explanation, if you’re willing to share. Ok, but how do you identify which ones you will trade. Do you just scan large caps looking for trade setups or is it a volume thing, or both. Also, if these are newbie (stupid) question feel free to just direct me to a YT video, cause there are too many for me to pick and decide that person knows WTF he's talking about. Do you trade Spy options? I want to trade large caps like the ones you mentioned, but I find the spreads to be too wide, like TSLA has typically a $0.40 per contract spread. Do you just find better entry points? how long do you keep an option. also, do you hedge? It's not about what's more impressive. The post is about risk management, it's about not making those high risk trades. One day blew out his entire month. That's what happens when you don't manage your risk. That's the point he's making, that's all. The core of this post is how red days were much larger than green days, so no, in this context it is not an important factor The post isn't about data. Whether OP has $100k or $10k is irrelevant. One day of loss can wipe out multiple days of profit if you don't manage risk and have plans in place. Think about a normal work day, when are you most productive? In the morning and just before the end of the day. Afternoons are slow, especially following lunch when you need that second hit of caffeine. This holds true for every job, including the stock market. Volume tends to be substantially higher just after open, and for the next hour or so. It's during these high volume times that substantial swings often take place. Sometimes in both directions several times within just a few minutes. After the first hour or so, on an average day, volume settles down and, without some other catalyst, the trading is pretty boring. Noting: many active investors (institutional and otherwise), don't trade in the after hours sessions, so they make their moves first thing in the morning. In fact, a lot of day traders will ONLY work in the first hour of the morning. The pre-market sessions can have some big swings too, especially on days following news (from the day before). Absolutely stay on paper money until you prove yourself profitable and practice as if you are actually trading with your own money. Practice with the actual amount and practice with PDT rule unless you plan on opening a margin account. How much cash did you use in those over all trades? Our stop loss is 50c a share. As long as we stick to our rules we would need to have something like 300+ losing trades in a row to wipe out our account and we would have to try really hard to do that Yes sir. Done for the day and researching why I thought it was a good play and why it didn’t work out. Lmao felt that, I make 80ish ollars in a shift at a restaurant, these numbers are legit job caliber Everything takes time bud, I’m sure you’ll get there eventually, but always double your expectations so if your aiming 75, then aim for 150, and even if you get 100 your still smashing your original target! My taxes this year just had me summarize It hurts me to say this but it is an educational moment; this is technically a maxim. 😂 thx.. gl to us Tsla is hands down one of the best trading stocks that exists right now. DM what happened on the 3rd? seems one bad day could really break your p/l for the month. which brokerage lets you trade the stock ? I’m talking more in generalities with these posts. It’s an important piece of context (which thankfully he provided below) that helps determine different factors besides risk management. Not sure why you keep getting down voted. It doesn’t matter if you start with 1k or 100k. You will blow up if you don’t have a strategy and risk management in place. The op is right. He is stating that he displayed bad decisions that lead to excessive losses on the few red days, verses adding to winners on the green days. It makes no difference how much capital was risked on any given day. The purpose of the post was to show that cutting losses quickly is Rule No 1 due to poor risk management and/or decision making. Huh. Thanks for the explanation. I guess the psychological aspect is not to be underestimated. i use tradersync also, my 2 month data tells me i should NOT trade between 12-4pm since I am down overall during those hours. all my profits are futures between 8am - 11 AM. That's good info. I've definitely noticed it. As a beginner I've actually been thriving on the little moves that occur after 12. I make shit tons of small profits on the predictable ebb and flow of the market. I'm not making a killing but I've easily been beating a 10:1 win loss ratio... Most traders seem to be against my behavior tho. They seem to prefer smaller numbers of trades and to do it in the morning. No more than 10% of our portfolio on any single trade and depending on share price between 100 to 300 shares each trade It was a completely off day compared to everything else. I basically couldn't fight my ego and kept adding more options to a losing trade, rather than cutting my loss. It resulted in holding 20+ weekly expiring contracts that turned into a 3k loss. I then rushed to make back that profit and dug myself into a 3k deeper hole, leading to over 6k loss. Like the first person said, trading is more emotional/psychological than anything. Know your style, know your weaknesses, create hard limits, and stick to them. As soon as you let your emotions take over you tank, as seen by OP’s post. Love this....I'm about 1 month into trading and using trader sync, I too seem to be most profitable in the morning, and having the most losses in the afternoon. Looking forward to getting more data and refining and getting better Whatever works for you at the time. Just be ready to change as the market does. Keep learning new strategies, even if you don't use them or like them. But it you've got a good thing going, then more power to you. Appreciate it Yup, which is fine for me. I would love to nail 1000$ before noon and move on with my day. So starting tomorrow I have a sharp cutoff 12PM, terminal off, going to the gym, seeing family , going outside. My other biggest mistakes are moving stops to break even too fast, stops not wide enough. I have the Elite version so it shows me my projected performance if I eliminate those 2." Made $60 today.,1736,https://www.reddit.com/r/Daytrading/comments/ldp5wl/made_60_today/,"Sometimes the best trade is the one you didn’t make. If you can’t find anything and you’re still able to make profit that day then it’s still better than chasing and losing. Good work! I made $5 last night. Profit is profit. Way better than -$5. Good job! Not to dismiss the lessons of paper trading, but 60 real dollars is infinitely better than all the demo money in the world. Congrats! Focus on consistently getting these small gains. Once you get comfortable then slowly increase your number of shares. It’s not a sprint.. it’s a marathon! Congrats on the win! And don't discount a $60 day - Money adds up. Consider that there are roughly 250 trading days in a year. If you average $60/day in wins, that equates to $15,000/year. A win is a win. But remember the first one is always free. Making any money when you first starting is a great feeling Nice. Just keep going. I'm down $200! Hey man, congrats, that's great. I'm only made $2.18 today. This is not easy money or get rich quick scheme. We work for every dime we make. LOL don’t worry I’m down 1,500$ today! :) congrats OCGN would've been the money! Be careful shorting in a bull market 👍 Better than me. Got into mvis when it broke HOD then sold when it got below vwap. Went on to do like 20% Silly question, I’m new but to you guys watch each individual stock by the minute to quickly identify good entry and exit points, or do you use longer intervals. I’m just paper trading right now, but it seems tedious to literally watch a stock minute by minute, so wondering if there’s a more efficient way Don’t buy when you can’t find anything. Wait and watch. Patience is key. A win is a win. It's ALL relative. Congratulations! Exactly. I don’t think i’ll ever be able to do this full time and actually be profitable. But if i can make some decent change on the side, that’d be great! An extra $1000 a month goes a long way Its alll about percentages. If 100% increase is just $10, you still doubled your money! Good job! Great job. There is no such thing as a small win. It's a win. Tried also today my first daytrade. My plan was to make 100 bucks. It didn't work. Hey 60 bucks is 60 bucks! What are your favorite learning sources? I’ve just been riding DD and Stocktwits. I want to gitgud. Nice! Man I’m happy to make 3 bucks Sooo how do you guys take into account the taxes? Isn’t it something like 50% Same made $50 on shorting silver with 0.03 of a pip and I’m stoked. First time trading real money with new trading plan I lost $4 so beating me! I found an old account I had with Ameriprise. Bought 1000 of SB. Made 90 bucks. Life is good. What matters is the win rate and the % gain made Well done, but be very careful with this tactic ie just placing a spread one way or the other at market open. I got cocky doing this placing spreads on the FTSE100 at £30/point. Made some cash a few days running. Did it again and now I’m down about £2k and sitting on the spread waiting for the index to recover! Use a stop loss and be comfortable with just setting fire to that money. That’s my view anyway! Good luck! Tip: keep a trading journal and review it periodically. Learn from it. There’s an iOS app that I like for this but there are plenty of ways to do it (even a simple spreadsheet). Do you use technical analysis and if so do you have a YouTube channel to recommend? Woo hoo! Excellent victory. A win is a win. A small profit is a profit. Profits are what make trading a success. I would have made a couple thousand a few days ago but I got greedy and didn’t let my paper hands move like they should have ... oops. Good job. 👊 Hey, this is awesome! good job! keep that confidence and keep rolling! Congratulations! That’s a great first day. Enjoy this feeling. If you get into it enough you will feel the greatest pain from the biggest losses later. Then trying to figure out a process of protecting yourself and finding mistakes. It’s a LONG journey mentally but worth it if you succeed. Most give up or blow up to the point where they don’t have enough to try again. Congrats dude!! Now concentrate just as hard on the next trade. Beware of confidence turning into Ego! I just started yesterday too...I’m limiting myself to 5 shares at a time. Yesterday was in AACG all day at 4.35...it dropped and I was like wtf...then at 130 it starts going up and I got out at 5.36 and was on cloud nine! Then the bastard shot up to like 12 as I watched in disbelief. Today got in on OCGN at like 5.00 it’s looking good in after hours! Nice! What about the leveraged ETFs? They're meant to be day traded I think. Any profit is a victory well played here’s to many more small and big victory’s 🍻 [deleted] I made 1 dollar!! Chased a trade went my way for a while so i put a stop loss at +1 usd and just let it be. Closed with stop loss. Profit is profit! good win man How much did you put in to make 60? Thats a pretty sick gain for your first day it seems happy for you. Can I ask what you use for day trading? Seems you need a limit to do so where ive checked? Thanks for any info. r/ThetaGang Sweet I made $35 yesterday with Boeing now it’s down to below my original cost. I’ll just buy the dip and wish me luck again good news. Any win is a win 🙌🏽 60 dollars a day keeps the bills at bay. And soon adds up! Well done This looks like a drunk post not being funny but did you have 2.7 drinks? Dont short my Long xD That's amazing man. I am happy for you 🔥🔥🔥🔥🔥🔥🔥🔥👨‍💻👨‍💻 im 100 up now most important thing is slowly ending bad habits, finding a good strategy for you that gives a good win rate, and then slowly scaling that up. if the strategy breaks normal statistical loss range (expected losing streaks based on its win rate is exceeded more than 1x) - then backtest and start scaling/practicing another strategy. the market doesn't support all strategies equally at all times. Congrats on the $60 win. Preservation of captial is primary. $60 or $1000 it's all the same -- Just a matter of scaling. A win is a win. Contratz! you did better than I. I am in account transfer purgatory Mate, keep up those gains! I've put 500 eur in a trial account after some months of paper trading and last week I made my first 100! Actually it was 120+ but I lost 15 in GME with another broker account I have so I guess it offsets the gains. I also feel little when I see peeps here putting lots of money into risky plays but yeah, keep it simple and a gain is a gain! $60 is $60. If you were making that every day, you’d be outpacing most people. Nice job. You may want to join a group to help find stocks. I joined BearBullTraders, but you can watch their pre-market show on YouTube for free. They’ll go over stocks in-play and you can see if you see any thing that fits your trading style. That’s a whole days worth of work! I’d say it’s a good one. Other people are out working 8 hours for that $60 Yes, the big point here is, you made money. But also, it's the % of profit/loss that is important to me, not the absolute $ amount. If I can reliably net a decent percentage, then over time, the numbers will take care of themselves. Sweet! I day trade about 600-1200$ of ETH and make that per day! Once you learn how it works some what profits come! Nice job! The $ amount doesn't matter at all. Consistency is all that matters for the first 3-6 months at least. Get the consistency down and you can (slowly) scale to (almost) whatever $ amount you want for years to come. How do you know when to sell and when to hold out? Or is your main goal to make money everyday? green is good!! Good work! Green is green. Try to reflect on what you could have done different to better your trades. Keep on learning :) Don’t short, not worth it 60dollars???? HOOOOWWW??? Gains are GAINS! 🚀 [deleted] Look forward to losing 800 next week!! Lol Check out $MLFB Major League Football ! A number of comments here mention the risks of shorting, so it might be good to add some details: shorting can be a very risky strategy because your potential losses are unbounded. Especially for a new trader with a small account, you could get in over your head quickly. Instead of shorting the stock, you could also take a short position with options by buying a put. Or, if you really do want to short the stock, you could buy a call option to hedge your position and avoid unbounded losses. Either of those approaches will make for a safer bet against a stock. This is the way $60 is fine but it really matters what your risk was. If you risked $30 or less than it was an excellent trade, if you risked $60, it wasn’t a great trade. As long as you manage risk well, you have a good future in day trading. Congrats on taking your first money trade! Your first trade was a short? Baller! Lol can someone recommend stocks i can buy. i’m new to this and willing to learn Who in their right mind shorts on their first live trade? Any updates? What do you think about GPOR ? 13M$ market cap versus 1.3B$ results, even of we consider covid crisis 🤔 Great advice. I was tempted by a few others today, but I'm glad I didn't. Congrats! You made money. That's what matters in this very difficult game. You’ll miss ever shot you don’t take -Prison Mike This is so true...it can also sometimes be the worst one as well Hey man, $5 is $5. Nothing to sneeze at! Good job! I only lost $20. Could have been worse! :D Was that a swing or a late day trade? Don’t stress, gains will come your way After bleeding money (not actually a lot as I only out $75 towards the meme stocks of the last week) I decided to pull out of all of them, and actually put my money Into stocks I did some DD in. Made $4 yesterday, I'm absolutely elated for my first positive day! Wow 5 dollars , it must have been a short squeeze 😂 There is real anxiety and a very real rush with real money I didn't feel at all paper trading. I wholeheartedly agree with you. I agree wholeheartedly, so does my anxiety haha. Wow hadn't done the math yet on that. I'd take an extra 15k. I appreciate you putting that in perspective. Great perspective, just need to rinse and repeat. Shorting is just way too risky for me though, specially as a beginner. I've been on cloud nine all day. It felt really weird hoping a stock would go down more... This was my fear today, that the short would go airborne not nose dive. THIS! I felt this today. Was thinking about the amount of time I put in and how much I made after it all. I basically worked a second job today. This gives me anxiety. For real this was my fear today, that I'd read the signs wrong and it was going to moonshot for some reason. I lost $6K last week... 🙃 I wish I didn't sell it 3 months ago 😥 This. I will shamefully admit I was sucked in and bought a share of GME recently for shits and giggles. It was the first stock I ever bought. Not out any money at this point fortunately, but it made me realize how crazy stocks can be. After doing some DD on a few other stocks I decided to spend a little on OCGN. Got in at $1.70, and enjoying the ride right now. BSQR went from $3 to $8! Yesterday was my 3rd day into this and I don't have much capital (about $150) but I made $7 off that trade and was pretty happy about it. My only wish is bought more shares lol. HOLY SHIT! See I knew it would blow the top off one day. I was in it it for a long time. Made some money but not that much money. Think I had 2000 shares at one point with a .39 cost basis per share. I bought $25 in TSNP back in October. Yesterday I cashed out and I decided I'm retiring from trading lol. I don't care if it keeps rocketing to the moon, I probably used up all my lifetime luck right there. I just checked it. Holy crap. I sold the peak, but the AH ... 😪 Damn, wish I kept it. I'll keep that in mind. Appreciate the advice. Sold 220 MVIS after doubling $$$ in June 2020 . .. feel like an ass now. Bought at $0.25, sold at $0.78 When I was in an active trade yes, but I also only was following one stock. I also was trying to get in and out quick. I'm a beginner myself though, so you might wait for someone with more experience. Late reply but I use confirmation and validation (breakout and return) against 90 day RSI to make 3 bar plays. Positions can last 5 minutes or a couple hours but I mean you keep an eye on it. It doesn’t feel as tedious to watch when it’s your real money on the line and catching most of the move can make or break the trade. Yeah I agree, I definitely felt my willpower waning on some things today, but I'm glad I didn't. Yeah I think I like it as a side gig. Doing it full time idk. I’d be worried it’d add pressure and change things. That'd be fantastic. I'd be ecstatic with an extra $1k a month! Thanks for the encouragement. Ive been using a lot of different sources. Started with Humbled Trader and have been going in a lot of different directions since. Basically whatever helps me understand the best. Haha. I have a (very stupid) question ...are we getting taxed over the net gain or the full sale? From what I know... which granted isn't much. A day trade is considered similar to regular earned income. So ultimately it depends on what you earn in a year overall (job and day trading) that determines how you'll be taxed. Can someone verify this? I could be completely wrong. I just did a few Google searches. If you don't plan on using the money right away, you can wrap it in a Roth IRA. Since Roth IRAs are started with post-tax money, all the money is tax free. There are limitations though (no margin accounts, for example) But you can have multiple accounts with the same brokerage - one Roth & one regular. Talk to a financial advisor before doing this though - not some random person like me on the internet. Only when you take cash out. Reinvest, no taxes https://www.nerdwallet.com/blog/taxes/taxes-on-stocks-how-they-work-pay-less/ Haven't looked much at precious metals. Do you trade it often? Here's hoping for a good Monday spread. I appreciate this. I did have a stop in place just in case, I kept having visions of infinite negative growth lol. So important... So as far as the journal are you just documenting what was bought/sold and losses and gains? Or is this like a really deep express your emotion about said gain or loss... (legit question... not sure if that somehow makes it easier to trade or something later) So one of my favorite YouTube channels is Humbled Trader. I don't buy anything from them, they did give a good framework for making a plan for the day and how to set up charts properly. They also give a good idea how to research on your own, which in my opinion is a much better way than follow someone else's plan. Thank you! First of many I hope. Thank you! I'm anticipating losses eventually, but even then as you said being prepared mentally is important. I appreciate the advice. Good advice, thank you. Going to continue putting in the effort. I saw this too! My reaction being the opposite of course, to short it today. But I was thinking about that yesterday, some people made a lot on that rise. On the share amount, my current philosophy is to not trade more than I'm willing to lose mentally. Be it 5, 10 or 20 I think just getting started is important. My knowledge of them is very slim. I'll definitely look into them though. Have you had success with them? I'll drink to that. That will probably be a while still, but I like the sound of it. Thabk you, it felt good. 20 shares at just over $10 (just barely). I could have made more, but when it started leveling out at $7 I sold... just as it was dipping into high $6... I regret that a little bit. It eventually dipped to like 5.69 I think. Do you mean brokerage? For that I use TD Ameritrade (not sure if they have options outside USA). For checking for stocks I use finviz and for charts thinkorswim (which is also where I execute my trades.) My account is still under 25k so I'm limited in the amount of day trades per week, but I fully intend to swing trade to make up for it. Good luck! I'll read up on it over the weekend. Thanks! Also not sure if you've seen Futurama, but I immediately heard ""Good news everyone"" Ha no, but I could sure go for some. Only briefly! You can have it back now. Nice! Keep it up! This is great advice. That's rough. Moving from RH? That's great advice, maybe I'll try to measure the average for a week. I trade Futures and make that in about 30 seconds, everyone has to start somewhere! By looking at the metrics, MAC, volume, price movements on the bars, etc. ​ Even then you never actually ""know"", you just have to be right at least 51% of the time. Thanks! My biggest thing currently is recognizing patterns. So I feel as continue trading I should gain a better understanding. Well at least I hope. Haha I'll admit the risk is much higher, I tried to mitigate that with stops though. Also did quite a bit of research on the stock before pulling the trigger. Totally incorrect. First, it depends on your tax bracket, 10%, 12%, 22%, 24%, 32%, 35% or 37%, then it also depends on whether it's a short term or long term gain, and also what your losses were already. Theyre not taking almost 50% of your profit, even if you make 10million a year, get real dude. Where do yall hear this shit at? Lol bro this is so negative no need for that here Ha! Hopefully I manage my stops well enough to prevent that.... but that too is a lesson to be learned I'm sure. If I've learned anything from watching others trade its that noone is immune from loss. Oh dear, that's a cheap buy in. What are your thoughts on it? I'll look into this, thank you for your insight. I'm surprised TD actually allowed that, they didn't use to, but they may have changed the rules. I mean I've made a little more. I'm focusing on scalping futures currently, which has made a bit more. I need a larger account for bigger futures though. You'll miss every ear you don't bite - Mike Tyson Morris and his wife Esther went to the state fair every year, and every year Morris would say, ""Esther, I'd like to ride in that helicopter"". Esther always replied, ""I know Morris, but that helicopter ride is 50 dollars -- and 50 dollars is 50 dollars"". One year Esther and Morris went to the fair, and Morris said, ""Esther, I'm 85 years old. If I don't ride that helicopter, I might never get another chance."" Esther replied, ""Morris that helicopter is 50 dollars -- and 50 dollars is 50 dollars"". The pilot overheard the couple and said, ""Folks I'll make you a deal. I'll take the both of you for a ride. If you can stay quiet for the entire ride and not say a word I won't charge you! But if you say one word, it's 50 dollars."" Morris and Esther agreed and up they went. The pilot did all kinds of fancy maneuvers, but not a word was heard. He did his daredevil tricks over and over again, but still not a word. When they landed, the pilot turned to Morris and said, ""By golly, I did everything I could to get you to yell out, but you didn't. I'm impressed!"" Morris replied, ""Well, to tell you the truth, I almost said something when Esther fell out, but you know -- 50 dollars is 50 dollars."" Virtual high five coming your way! Monday is a new day! Was a scalp option trade on Tesla I was lucky to place some calculated calls for Friday to buy out of that hysteria. Still -$88 in that area, but overall account is up 10% for the week = WIN! Once you work out a good strategy or two, I really think managing emotions is the next most significant factor in determining success. You can know your stop loss and exit points when you enter the trade and still fail to execute them. Can you admit an instrument didn’t move the direction you predicted and take action (or allow your pre-set order) to exit the trade, take the loss, and move on? Can you execute your exit strategy when your instrument hits your target(s) or will the rush push you to YOLO? When you’ve done DD and have a plan for the trading day, can you avoid FOMO and jumping into spiking stocks that are peaking and will leave you holding the bag? For me, fighting my impulses fueled by the anxiety and the rush have been the toughest part. Paper trading is awesome but it didn’t help me prepare for that at all. Congrats on today’s win! I wish you more wins than losses and mitigated losses when you inevitably have them! Trust me my anxiety kicks in all the time too. But eventually you will be able to keep that in check. And a proper stop loss definitely decreases that anxiety significantly lol. Remember taxes at the end of the year. You’ll lose about 20-30% at the end of the year depending how much you make (overall, not just from capital gains) in the year. Yeah shorting is kind of fucked Yea it feels so good, I got on Tesla when it went up a good amount and also got on Bitcoin at like 35000 when it went up to 40+ so Imagine that high. Very unrealistic expectations it gave me Once you lose a few thousand in a day... that $200 loss won’t hurt so much anymore. Lol. Welcome to the dark side! I work in labour so this doesn't even feel like work to me. I haven't really gotten fucked yet though so 🤞🚀🤔hopefully I can keep rising You have to practice getting used to seeing red! It’s a skill. Think of trading as a weekly benchmark rather than a daily one. Ive seen myself down $1500 to swing back to positive $1000 in a single day. Trust your plays. Yep that's a lovely feeling isn't it, but I take solace in the fact I'm shniffing around the right areas. Just got to find the next one and back it longer! All lessons. (albeit a little painful) I bought gme at 237 the day the bottom fell out. Watched it for a few hours and didn’t feel right, so I sold for 245. It immediately tanked and never returned after that. Thanks for the free lunch, but that 3 hours of stress wasn’t worth it. 👏🏻 that's the way! You're not the only one that got suckered into the GME chaos... That's awesome, I'm happy for you. Yeah I blew off 4000 shares... because someone said it was a pump and dump stock. I'm holding every time now lol That's a sweet return!! That's the way to do it, set a limit you'll be comfortable with and get out while you're up. 👌🏼 They said it hasn't peaked yet 😊 Taxed on the gain. Put in 500, cash out 1500, taxed on 1k at the tax bracket you are in. From my understanding (again limited) you are taxed on what you make not what you put in. Here ya go homie https://thecollegeinvestor.com/23577/capital-gains-tax-brackets/ This is my tentative plan. I hope to put in as much as I can per year off of trades. This is not true in the United States. Selling is a taxable event whether or not you reinvest or withdraw has no impact. So as long as it remains in your brokerage account Thanks for the advice. Thank you I wasn’t sure about that The guy im learning off worked in a precious metal firm for 10 years as head of trading, He uses “elliott waves” and pretty much does most markets now It should ideally be all of the above. There should be enough information for you to derive meaningful conclusions and actionable changes from it. Being aware of (and in control of) emotions is arguably the hardest thing about trading. Keeping track of that and analyzing it makes logical sense to me. But of course, there has to be a balance between how much info you keep track of and how much time you invest in a journal. The one that I use ([https://apps.apple.com/us/app/alpha-squeeze/id1515040626](https://apps.apple.com/us/app/alpha-squeeze/id1515040626)), has the basics (entry / stop / take profit / exit / etc), but also spots for commentary on both the entry and exit. I like to use the comments section to jot down my motivations and reasoning. I also attach a screenshot of the chart from TradingView which helps during the reviews. If you need something really in-depth, and are willing to invest more time into journaling, there is also [https://edgewonk.com/](https://edgewonk.com/)... but it's hundreds of dollars. The most important thing is to actually be disciplined enough to keep it updated and review it periodically. It's easy to get lazy. Being disciplined and having a methodical process for learning/improvement makes a huge difference though. Honestly, if I blew up my whole account it really wouldn’t matter as it’s only 1k. However, my thinking is if I have a high chance of losing why not lose with just a little money. The downside is that I don’t win money either. It’s interesting gauging my emotions while doing this...fear, hope, disappointment and excitement still exist...but (having my limit) it’s kind of like learning to ride a bike in the grass instead of on pavement. Crashes are going to happen, they’re unavoidable, but at least you know, on grass, you’re not getting hurt. [deleted] I am fairly new myself but keep seeing a recurring theme: Never regret profit. Congrats on your win! Hey $60 is nothin to sneeze at. Thanks for the breakdown Some no more AACG or IPOE? yeah. I have been extremely lucky and risky over the last month, so it is probably a good pause. I flipped 3k into 14k, but I was pissed when I lost a bit thursday before last because of perfidious monkeys at RH. I mean call the margins and raise some debt on your 15 billion dollar company don't yank the rug out from traders that for the most part don't have much. ffs I've really started to look at futures a lot too. Never heard of that I’ll check it out Nice, GJ using stops. Just make sure there's a decent volume so there are some sellers at or around your stop price. MY thoughts are his account is 28 days old and his posts are exclusively about that trash stock. Run away from posts and posters like him. It's dangerous and likely to get expensive. Save ? Good luck Save? You;ll muss evrey lettre yuo dnot' look at - Me *mith* FTFY [deleted] I just bought stocks redditors told me too, who would have thought that was bad advice? How many option scalps do you have going at once, and is your exit always $5? State taxes matter too! I lose 29% total, barring any ridiculous gains. Dang this is gold. That is a great mentality. Thanks for the advice. ""How to grow an Ulcer"" Same to you. 🍻 To future gains. Thank you! That´s cool! Thank you! (I am still paper trading. I will take my time to move on to the real stuff) Another stupid tax question, does whatever platform you use tell you how much you have accrued in capital gains over the tax year? I use Robin Hood and not sure where to find this. Sorry I’m just very new! That's awesome thank you! Just to clarify, you want to make your trades within the Roth account, that way your profits won't be taxed. If you put in the money afterwards, then you'll have to pay taxes on it. Thank you. After your reply, I looked back and saw where I misled myself. I bought on one calendar year, sold on another. The following year, I did pay cap gain tax. I also traded more last year Wait, what? I thought taxes come into play when you realize a gain or a loss from an order. The individual stock/option transactions are taxable. Moving money in/out of Robinhood or a brokerage doesn't mean anything for taxes. This is awesome, thanks for the details. Oh geez Enron. That's a blast from the past. The risk factor for shorts is very high... like infinitely high, I did immediately put stops in place to prevent it from going too high. Or am I completely nuts and that wouldn't have worked? Appreciate that. Easy to get sucked into what could have been and lose track of what can be tomorrow. I am happy how it went down, I think I'll learn patterns more with experience and I probably could have handled the risk without losing too much. Live and learn. It made my adrenaline go up thinking about it in detail again lol Well I may keep an eye on AACG, but unless I see something newsworthy about it I will probably avoid. Today I jumped on it because it was hugely overbought and the news was already basically calling for a reversal. Start with micros, not minis. Stick with one contract at a time and don't hold through the 1hr close or overnight Great advice! Thanks! Nice save, thank you. LOL my guess is you may be 11 years old young lady ! Just sit and watch this stock run to $1.00 by the end of May . Sorry I'm new to Reddit I should have asked your permission. MLFB had a huge January and is doing really well this month as well I think the timing is right for this league. Of course always do your own research. Here is one recent podcast in regard to Major League Football 🏈https://xflnewsroom.com/podcast/what-to-know-about-major-league-football-mlfb-featuring-josh-davis/ You know the rules and so do i - rick astley I regret not thinking this. I won't edit so they can see this glorious fix with context. DJ MONEYS EYES PLAY THEM TURN TABLES WITH AR SIGNS INSTEAD OF RECORDS Need a hug instead? I only trade one stock, Tesla, and one contract at a time. I trade the momentum breakout during the first hour and that’s it. No my exit is not always $5. Just so happen I see level 2 start to slow down on the breakout then I get out. I gained $140 on Tuesday in 50 seconds. > State taxes matter too! *laughs in Floridian* No problem! Let me know if you’re interested in a discord where traders talk It's a different animal. I mean that sincerely. The anxiety today was pretty intense. Both when it went high and low. Let me know when you make the transition so I can cheer you on. So I use TD Ameritrade, it seems to have something along those lines. But I need to research that more myself. Ultimately though they should give you info for your taxes at the end of the year. edit: also as far as robinhood I'm not sure entirely. I'd assume that it is located with or near your personal data. Well this is a tip I'm glad I learned today and not in 5 years. Thanks! Yeah google determined that to be a lie. Lol. Anytime you make a profit from an order that’s a taxable. Regardless of if you reinvest the money again. Or keep it in your brokerage account or not. [deleted] Holding overnight seems ridiculous to me. Thanks for the advice, I'll let you know how it goes. Trying to understand what it is I may ask you some more questions if that’s cool ina little You know, I used to be an adventurer like you - White Run Guard Fuck, did I just get lo-fi rick rolled? You mean HUGE? Thanks for the advice, not sure Pharmaceuticals is my thing but I'll dump the rest of my money into them. Wish me luck! I had to learn this the hard way last month. Leverage works both ways. But I will only swing for the fence with winnings not my investment capital. Up 15k down 15k on 4 trades. But what a ride! ITM or OTM? I am guessing expiring the coming Friday? My colleague also does this? What indicators do you use and has it been profitable? Gotcha. Thanks for the reply. Always interesting reading the strategies people go after and appreciate you sharing yours. Fair enough, lol. Not so lucky here in Wisconsin, though 7% isn’t that bad. I totally am. I love discussing this stuff. Will do! Thanks a lot! Robinhood is pretty late. Mid February. Back to researching I go. I did it before I knew what I was actually trading with and made a shit ton, but it was pure dumb luck. Sure man!! I've got the paper towels - Lew Zealand I laughed really hard at this. Well played. Bngo, nndm, cciv. Buy one of those 3 if not all of them. Maybe even Uxin if you want alittle more risk. Lol. Usually OTM or ATM. Expiring coming Friday or same day Friday. It’s been green so far this week. I just started so could just be luck. I’ve been swinging trading for a year and have been profitable but want to see how scalping options play out. Ive been swing trading only Amazon and it’s been good. I just like to keep things simple. I only use 9,20, 50 EMA. Look at previous day high and low. Look at pre market High and low. Be ready to buy calls or outs. Thanks for the reply. Amzn and TSLA both are great for trading." "Finally Got My Set-up Done After Numerous Tried 6 Different Size Monitor I Finally Settle with Two 43"" Ultrawide Monitor. Just a perfect Size And Angle Where Allow Me To See Everything With Turning My Neck Too Much",1717,https://i.redd.it/kd28ba8k8pw71.jpg,"[deleted] this is intense Bro are you single and would u consider hooking up holy fuck Adding more RGB will guarantee positive gains daily 10% Trading, 90% Porn 100% True Jesus…damn sure hope you make money so you can pay for all that. You need the 800 number bro ? I tried a similar set up a while back, don’t get me wrong the ultrawides are a lot of fun. But I don’t know man, just never got into it long term. Turning my head to see what was so close got to me. Back to docking my MacBook and two monitors. Looks exactly like WinAmp from my windows 95 days. Can it play MP3s? Damn bro your back! Do you plan to get your YouTube back up and running? More monitors = more gains. Interesting how you only have two monitors running multiple ToS charts. What are your system specs? Do you experience any lag? how much do you make a day How much does one of those bad boys weigh? Nice setup, btw. Clean. Whats the keyboard model?? It's nice to see you posting again man. Cool station. We need more info! What size and model? What is that on the right side of the keyboard? What model is that alien ware? Guys I got the best monitor setup for OPTIMAL trading \*\*\* Portfolio performance still -38% YTD not a bad set up and doesn't cost an arm and leg. Two screens from amazon cost around $1k total. Doesn’t ultrawide mean you have to turn your neck more lmao Yo it’s the legend himself. Are you still scalping like 2000 orders a day? You still scalping? This is an epic battle station Hey man this looks good. I'm looking to upgrade from my two screen set up to one of these soon. Are you connecting both screens to your laptop? what are its specs? Cheers I’m undeniably and irrevocably in love with this setup How can you make the first monitor stay like this? Can I get a picture from behind too. Thanks. It looks really good! What kind of monitor arm do you use? Gay af. I love it. Looks like he’s working at NASA or something preparing for a launch 🚀 First off this is so epic I'm trying to figure out how to modify it. If you were doing a standing desk how might one go about being cool like you. Currently I do one wide one vertical, but honesty so many things get screwy vertically. Man you just inspired me and I'm curious how you'd do it if you had to. Sick Must be nice to watch porn there Very cool setup! I have a few questions if you don’t mind taking them time to answer them. 1. What made you decide to angle the bottom monitor like that? 2. What stands are you using for your monitors? 3. You made some pretty phenomenal gains, congratulations. I’m curious where you developed your strategy? I’m assuming you adopted someone’s strategy and then made adjustments to it yourself. 4. Do you trade small caps? 5. Could you post or send a couple of picks of what your monitors look like from behind? This is a great post. Thank you for sharing I actually do most of my trading on my cell phone would find it easier quicker and profitable War room. Good luck. Looks nice, but I actually make money using only my phone lol All that work just to lose money ggs How much you are loosing in average ? The more of a beginner, the more the cost of their trading station becomes a negative function of initial bankroll, profitability and length of track-record. And the more he brags about it. It never fails. Good luck on your ROI. It’s about time honestly Love your setup Well done! Dude this is sick! I love it what size of monitor/screen is that? I like the blue back lighting. It gives you that warm buzz for that 03:00 AM wake up call. ""Money never sleeps"". Incredible setup. Wow! What do you trade OP? Amazing! What was the budget? Fucking beautiful Best I’ve ever seen. holy shiiiiit awesomeness. battle station to make that box into an atm machine! This is really nice. They look akin to retina displays almost. What’s the resolution on that bad boy?? I'm getting a migraine just looking at this jpg gotta look like cash money before you earn the cash money It’s beautiful sick. which monitors do you have and what mounting arms did u use. specifically the one on the bottom that tilts upwards stream deck on deck!!! Did you get a certain mount for the Bolton one? This will out I want this setup 😍 Damn. I've been following you for quite some time, this is a cool evolution! Can you launch the fuckin space shuttle from there? Did you try any curved monitor setups? This is some next level shit……noice…. baller setup fr It's a new casino outlet! Looks awesome! This has to be satire Ahh fuck.. now I need to get one I’m still pissed I missed the late day move on BTBT Friday. Ngon How can something be so SFW and NSFW at the same time Do you actually use all of it? 😂 Sheeeesh Just gotta get a webcam now and you're set If they were curved they'd be the bee's knees What brands are these ? Awesome. that's a spaceship i started using mission control on my macs and full screen apps with smaller but taller gaming 27” monitors. i do have a 34 as well. all on an l shaped sit stand desk. but i agree that having so many open charts is nice. i found i only look at one chart at a time anyway. and switching takes less than a second. Had no idea they even made those. Wow. Where can I buy these? Damn, this is some next level shit That one punch screen saver tho…. 🤩 How are you linking IB with TOS. Or you have to manually change every time you change the ticket on TOS? I need a profile photo of you looking at this after losing a big loss. We will meme you into history as the loss man. Thats amazing Now, now, does it make money, eh? Oh boy oh boy I can’t wait to lose my life savings on this baby! Google image worthy. All this trouble to beat the market? I just dollar cost average with my Nokia phone. :-) Love the one punch man ✊ Looks awesome. I played around a lot with my monitor set up as well. How do you find reading that bottom angled monitor to be? Is it pretty easy on the eyes/neck? Niceeeee how much ? Has this setup returned you a lambo? You see everything with turning your neck too much? What does it mean? This setup is looking very amazing you made it wow. Looks sick! hope it's also helping you make profits 💰 Land the spaceship! You need all of that equipment to make a trade? Fuck off, god damn you sexy bastard That setup is beautiful and functional I really, really approve of this method. I think I would add one in portrait for reading but one might say that is ""overkill"". What kind of mouse is that? Awesome. This is like my dream setup. The kids at r/pcmasterrace would get a kick out of this setup What level 2 do you have up on the right side of the screen? Also looking into stacked monitors, what mount do you have? This is super cool. Excuse me sir, this is porn. Please post to appropriate subs only. how did u get that clock with seconds inside TOS? Amazing setup! I just noticed - does your strategy only involve L2 without looking at the tape? This is absolutely ridiculous and amazing Dream trading setup, Nicely done scottie beam me up? Love it. But Why Are You Writing Like This? I like the keyboard with LED backlight colours.. I’m guessing it’s Mechanical correct? Are those all hooked to one laptop, and if so how, also what brackets to install that way? Thanks Why not hide the bottom start menu bar on the top monitor as opposed to covering it with the bottom monitor What system do you use I thought this was Batman’s BatCave Thank you for sharing. I’m thinking about getting bigger monitors so it’s nice to see how other traders set up. Looks cool, 0 chance that this is actually effective in any practical sense. Enjoy your fake internet points tho. I’m turned on Now u can lose money in style. what brand monitor is it? Hey even if you lose everything, you’ll look dope as shit doin’ it I trade on my iPhone XL in the hot tub Damn! You must trade all the days. nice setup. is the trade ideas box at the very left on the bottom screen top volume for all stocks on the day? can we get another youtube video please also.... thx Information overload Lol Sick set up the most badass way to lose money Need a screen dedicated to porn All this to manage one RobinHood account with like two fiddy in it. Very nice setup. The angle of the bottom monitor is interesting. I might try that. I have two 34” monitors, although they are above my laptop so I am looking slightly up and this can be fatiguing, r/pcmasterrace Beautiful What comp do you have that runs all this? I'm trying to find a replacement comp that isn't laggy af on activate trader. This is gorgeous! Idk about people but if I would have the money, def I would do that. Super cool! Just to be clear. Are you making any money? So you’re a millionaire? This a dope set up! That is fking beautiful But can it run fallout on max settings? Didn't think so. Now I know why I keep loosing money looks dope but do you stand up at all times or something? i dont see the benefit of the slanted screens if not Beautiful setup , not sure why your getting hate from fake Reddit millionaire lol. Can you please share the setup links like monitor stands, monitor? Hi Hai just found your Youtube channel. Unfortunate to see the videos were taken off due to the hatefulness of people around the internet but congrats on your 7 figure milestone! I recently started full-time and your journey gives me a lot of inspiration. Didn't see a lot of Viet fellows who succeeded so super proud. Champ. Mine’s better but yours is good too ❤️ Wait...no space for Cramer?! Buy calls on SNDL and TLRY You could watch so much porn Aye you’re back. We missed you man Hey welcome back man. Hopefully you'll be active on here again with your posts. Sorry if I was a douche back then and thought you were trying to sell something. You're pretty cool, keep up the gains. Phihix, so good to hear from you!! You have no idea how inspirational you are. Love your success. Interesting that now you’re also shorting stocks. Oh, and LOVE that setup. Keep up the great work - rooting for you! Such a huge investment just to lose money on scalping. I lose money with my 500$ cellphone Looks nice brother, great job! When are you going to come back on YouTube? Miss you broski. Very nice setup, it must be very crazy to see yourself losing some money on those screens! Wow! 🤤 The real question: is it effective? The ideal setup would have an automated filter to only leave the individual with a select few tradeable setups. The brain can’t process all of those screens at once and it will end up being more confusing than effective. OP, how much money do you make from daytrading as a percentage of the amount of money you’re using to trade with? Was thinking the same thing; are we sending meme stocks or a NASA spaceship to the moon here? Haha. Do people with these type of setups actually make money? I'm a millionaire from trading and I've never used more than a single 22 inch monitor. Ye Man the tendie battle station! I think Gandhi sait it. 100% accurate. Just change the colors to green all the time I was wondering the same. Dude prolly has porn up at all time. OP is a legend around here He makes more than the cost of this set up in 2 hours. The guy is famous Ya we need the gambling hotline on this one Both MacOS and Windows have a really quick ability to switch desktops. I can quickly flip back and forth between multiple full screen applications and effectively get the same benefit as having a monitor 3 times its size. Technically I could have many more desktops (""going bigger"") but flipping between more and more desktops starts to lose out on speed and understandability compared to just moving the eyeballs. Some other small benefits are I don't have to move my head around, I don't spend time trying to find my mouse cursor, and I don't have to move my mouse so much. You can set up desktop switching with hotkeys and even with trackpad gestures. I do the latter and it's very natural feeling to me now. I had the same issue until I got a really deep desk. Once I got that, using 3 monitors was much more comfortable. Dude you just nostalgiad the fuck outta me. Winamp! The setup really kicks the llamas ass Lmao I’m done ☠️😂 Wow I didn’t use w95 but w98 and I loved winamp. Jesus christ a lot of memories came back to me. my laptop is little more than a year old, but it maingear i7 10875h, rtx 2070 super. But the main reason it able to run that many TOS is because its have 32 gb of ram. You need lot of ram to run TOS, TOS alone take like 50% of my ram. on top of that using chrome almost 60-70% of my ram while running. I have to run two separate instances of tos. More than two charts on once instance and I get lag After paying for the monitors: -$1400 Check his post history. Back in March he pulled in 300k for the month It's a Scepte 49"" ultrawide On the right side? It's a mouse :P I'm sure you mean the left though :P It's an Elgato Stream Deck 43"" monitor by Sceptre, really reasonalble price. 49 inch is too big. its elgato stream deck, i program it to hot key button to trade. it's a maingear Depend if it's hot market or not. But year still scalping the same method, tweak here and there Buy two 24” and put them side by side He's got a few monitor mounts, the gas spring type ones on amazon. The mount up one is good for singles, they just twist onto the desk. 49"" Ultrawide If you notice, it's just 2 additional monitors. Very Wide! Nice He could always make master hacker videos on TikTok I don’t know why that’s so funny lol 😂 I use everysingle spot on the screen. I increase the amount of stock im looking at over the time. first i was only having 2 chart up but now. i have stock i look at the same time, but i have 2 brokers, one for shorting and one for long. Also other broker chart also up just incase TOS lag. in term of how much i make in %, im kinda of an outliar cause last year is my first year of full time day trading i happen to turn 28.5k to 1.25 mil. I document it in my post. The more experienced you get the less paralysis by analysis you get. It's all good if you can't handle looking at more than one screen. You do you [deleted] There's something called intermarket analysis Without a doubt there’s a point of diminishing returns. I only have laptop + 1 but see the value in more. You can see trends in peripheral vision Don’t try to process all the screens at once, just take your time and process things how you most effectively do. probably both! Of course. Everyone's needs are different, some can do it from 1 screen, others benefit from 3. Wait you're a millionaire trader and you use Robinhood? [deleted] theres a guy on wall street, old boy, hes made over 300 million since the late 2000s trading from his cell phone and usually while hes riding the subway.....made me laugh when he explained how more monitors don't equal more money What are you even talking about. I can name ton of day trader who make millions/year have much bigger setup than me. Alex from myinvesting club (4 27""monitor), Nate from investor underground (4 27"" monitor). Madaz from madazmoney (3 43"" monitor). Humble trader (4 34 inch monitor). If you trading more than a year you will growth out of your 22"" monitor already. 22 monitor fit max 2 chart and few scanner and maybe barely enough space left for you to search the web while market slow. No way you can be a active day trader with 22"" screen. Except you one of just dodge coin million air just bought and hold. or you are those laptop day trader million air trading by a pool with a lambo. Btw i also reach my first million with in my first year full time day trading, also document my whole process here on reddit. Same. I have a friend who is also a millionaire from trading. He does everything on his phone. Any chance you feel like sharing your story of how you became successful? My friend started off trading with 5k, eventually maxed his tfsa, and had a few big breaks along the way. But those big breaks just accelerated his otherwise successful trades which had given him the capital to chase millions with in the first place. I just find it interesting to hear people's stories. I'm looking to transition from paper to live trading over this winter and find it motivational. Right.... I'm in the same boat but with crypto and just use my phone and FTX 99% of the time. Don't want to just sit at a computer all day and be stuck at home... if you need all that to trade you can't really be free... might as well be 9-5 desk job. Advice on making money sensei Lol you are so sad and lonely you just had to throw in that fake millionaire line. Holy cringe man find something better to do than pretend flex on people on Reddit. What do you use for a screener? Or do you just go the route of trading some leveraged ETFs? ""Learn to light a candle in the darkest moments of someone's life. Be the light that helps others see; it is what gives life its deepest significance. Add More RGB."" \~President Lincoln I mean, why not? This is not medical advice and I am not a doctor bahaha WHIPS* What is your memory usage (min/max) on ToS setup? How? If you even buy a dirt cheap GPU that's 2G it'll handle multiple charts just fine. You might need to update your computer 🤔 After tax? He says 43 in the post but I think u still might be right How is the Streamdeck implemented? How are those Sceptre monitors in terms of contrast and color? About like 15 years ago I got a Sceptre TV and it was cheap but the picture wasn't great, it had a weird pixel ratio and died after a couple years. Ahh extra wide thanks my eyes played tricks. If I only read the title, oh boy I’m in very beginning stages of day trading, I can handle few charts on one screen. I see you have two brokers for shorting and long, any particular reason? And I assume TOS is thinkorswim. Have you had it lag for you often enough to justify another broker screen? Should I have to worry about that? This is a part time job if anything for me. Really impressed by ur setup, run any games? Haha Where did you learn your strategy? I’ll sign up for classes I have 2.5 k right now to play with just idk I need a mentor “ in term of how much i make in %, im kinda of an outliar cause last year is my first year of full time day trading i happen to turn 28.5k to 1.25 mil.” ^^ Yep my guy if you’re making these types of claims you’ll have to show some proof. I hate to break it to you but with that many spelling errors and insane gains, your track record is a little unbelievable. Are you trading options primarily. Thank you Hey ! Not sure if you would share a TOS template that you use? Thanks! U need vr Lmao I just one have 27"" screen mounted to the wall next to my couch. I swing it out so it's kind of right in my face when I'm using it. Being on the pc for me means sitting on the couch, feed up on table, keyboard on lap, mouse on the couch. I use a couch cover that's comfortable and works great as a mouse pad. Yea, lol there's many millionaires that use robinhood. The platform you use is irrelevant....and robinhood is by far the quickest experience on a phone. I've taken my robinhood account from $1500 to 1.3 million. I also use Vanguard, Fidelity and TD if that makes you feel less superior. Billion is the new million. This is why everyone is talking about wealth disparity. If I do well, I try to share wealth by hiring local people to help me with projects and teach them to make money. I haven’t made a million yet but I still hire people often. I guess this is virtue signaling but I was trying to influence. The side note is we need to help less fortunate people, unlike banks. Lmao from now everything hell say will soumd phony af It's that easy. I literally work on wall streets with thousands of professional traders and I've never seen any of them use this kinda setup. Most extreme I've seen was a 3 monitor Bloomberg. Most just use 1 though. In general I'd agree with you that more screen real estate is helpful, however, I wouldn't say it's a hard requirement. Dan from TheChartGuys used a laptop and a single 20 some inch external monitor for the majority his time trading the last 9 years. He didn't do it nearly as fast as you but he similarly took 10s of thousands and turned it into 7 figures in just a few years. He only upgraded his setup a couple of months ago. In his case though the upgrade hesitancy was largely because he was comfortable with his current setup and didn't want to do anything that might interrupt his trading ""flow"". He's very much about following the same routine every day. He had his new PC sitting on his kitchen table for months before even setting it up lol. I've been trading for over 15 years. And how many of those people you listed are selling courses? I'm guessing all of them because those are only type of people with nonsense setups like that. They have those setups to make trading seem ultra complicated so people would buy their nonsense courses to learn. Real traders don't sell courses. They make money from trading. Also most professional traders use Bloomberg terminals, and 90% of terminals use one monitor.....sometimes 2 at most. You want the money but without the pain and effort. Meanwhile Crypto is allegedly a 24/7 shift. What you doing in a 4 week old thread? TIL. I could have bet my left tescticle it was kick. I used that program constantly growing up before tax At least he can deduct the monitors I just found out that you can configure it as a hot keys keyboard. I’ve tried daytrading frequently for ~10 years and I’m just gonna say the most effective means of trading is to wait for a market drop, buy and hold a 3x etf representing a strong sector like the tech sector, and leave it alone for awhile until you’re left with 5-8x the initial investment. TOS has had some lag issues after updates. It's not a huge issue normally but when it happens, oh boy, shit doesnt work. Usually I take off those days anyways. Yes that helps You're a meme trader most likely. You got lucky, not good. Ok you bought some really far OTM yeah those Bloomberg terminals ain't cheap, don't they start out at around $24k a year or something? [deleted] Dude of course those people i name going to the people for you to know they have to be on youtube. and to be there most likely they sale course. If i tell you my friend john or bob have 4 monitor you not going to know who they are obvious. Professional use Bloomberg? what nonsense i never use bloom berg.90% of terminal use 1 monitor where the heck do you get that fact from? what year is this? every prop trader have at least 2 monitor and dude you trade over 15 years really? on 1 monitor really? a million air trader? No record? every prop trader have at least 2 monitorsll street bet. sound exactly like where you belong. What strategy(ies) do you use? If your claim is right, then you trade only levels and you use order and volume data. No indicators. Those wall street pros only use price and volume. Very true:) Ya it is def 24/7 but that's what gives me more freedom to trade exactly when I want. Opportunities at all hours. This guy taxes That's good to know. Thanks Lol. The most effective way … for you Damn. He took a chop at your balls with that last sentence haha. When I started trading 15 years ago the word meme didn't even exist, much more for being used as related to trading. Yea, something like that Just wandering around and happened into this thread, but this is how I think of it, too. I'm a systems engineer and I trade off and on during the day, so in order to actually do both reasonably well, a 64""x36 adjustable desk and 3x22"" 2k monitors is the minimum that is useful to me (and a comfy chair, decent mechanical keyboard, good chair (which I'll need to replace soon, mine is a decent mesh one but I'm in front of my keyboard 9+ hours a day and it's worn out)). Even then I want at least 2 more 22"" 2k monitors, but also thinking about like a 36"" 4k ultra-wide to sit above my current 3. Bro he just said he uses one monitor…. Why are you so pissed off? You not being able to write a sentence gives me hope that I also can flip my account to a million plus, thank you dearly. What platform are you using for trading crypto? Move to a country with no tax. When someone says they turned 1.5k to 1.3 milli and they also use RH, you can usually assume they were meme trading TSLA / GME /AMC / etc. You hang out in wallstreet bets exclusively. [deleted] [deleted] Yes, because it's the only subreddit worth my time. Magnetic desk? Link? And considering he can barely put together a coherent sentence… Why can’t a successful trader have a 22 inch monitor ? You're a meme stocker trader, Harry. [deleted] The guy doesn't speak english as a first language. Maybe try attacking him for something that makes sense? [deleted] Looks cool but I’m pretty short and I tend to stand around half the time I’m at my desk so I’d need an adjustable versions Not following. My boss only trades from his phones and makes millions do they even make 22 inch? i thought it went 21, 23, 24,27,29,30-34, then 35-38 then 40-49? [deleted] I traded for a long time on a setup where I could only see 1 chart at at time and did just fine. Hitting the down arrow on the keyboard really isn't that hard lol" Friendly reminder that daily compound interest should be your goal in Day Trading and not trying to get rich off of one grand slam or a few lucky trades. This is a visualization of what 1% daily compound interest starting from an account just over PDT can do over a year.,1693,https://i.redd.it/pbae3p9gulp61.jpg,"I know the power for sure, I’ve seen what -5% daily can do! 😢💸 I’ve been trading for a while now (close to 2 years) and I have reached some level of consistency in terms of knowing what setups work for me and what don’t. I am able to trade profitably most days with a nice Profit Factor ratio. My latest struggle however has been trying to be content with my daily gains and not giving them back to the market. I keep my account around $27-30k usually and many mornings within the first 30 minutes hit well above a great daily return ($500-1,500, or 1.5-5% account growth). However, because I have no daily target and it’s hard to think long term in mind when making daily trades, I end up giving lots or all of my profit back in the low volume, choppy hours of the day. I recently came to the realization that this is because I have no daily target or goal of what to reach. Aiming for 1% daily will never go picture perfect of course. You’ll have +2% days and -%1 days, etc. BUT - it provides a goal and target to strive for and know when to stop trading and be content with the profits you’ve made. Hit that daily goal and shut down the computer. Lock and walk. Thanks for listening to my Ted Talk. To add to your post you will become a millionaire in three years with a 1k account if you can profit 1% a day This is what live been doing since November and I haven’t had a losing month yet. I’ve gained $4,273 since then. It’s not much but I started with a small account of roughly $9000 on Webull. I do day trades but mostly swing since I’m under the PTD rule. I see my 1% and I’m out. I don’t get greedy. Since I started with a small account, 1% only means $60-$100 for me. I get lucky sometimes holding overnight or two and I may get a lot more but it’s not often. I’m hoping to keep doing this until I get to $30k. It may take a couple of years but at least I’m sticking to my plan and not losing a bunch of money. Having 18% balance growth in the first month is well.. nothing less than AMAZING, that's WAY more than average Day traders so for new traders seeing this - keep studying, keep practicing, maybe one day we'll end up like this champ! This is exactly what everyone be should be aiming for. I do agree with what you are saying but one is not going all in everyday to get that return. Lock and walk is the key. My friend and I play with similar set ups; we discuss our moves daily. When I was first starting out, I always tried to outperform him daily. Got me in the red pretty quickly. When I was content with consistent and small gains, over time our portfolios started to reflect the same earnings. Great advice, solid post. Good advice - I tried to hit home runs daily - watched 100% gains only to be greedy n gold them n breaking even and loss at times I think I’m going to do exactly what your doing Put $50k in - and goal is $1,000 day - let’s say I’m able to do that 4 of 5 days a week - that’s 4K week / $16 k month and so forth Slow / steady / consistent Great great advice Wish I read this before I lost $85k in 60 days- lol. Life n learn And here I am with my $500 account. Man it sure sucks to live in a third world country making less than $6 a day. I'm still new to this (and learning from you all before jumping in with my humble $100 I've set aside for it) but it seems like a good strategy is to do it like a katamari damacy. Pick up a little here and there and it adds up over time. Is that the case? You made this sheet after two years of trading? I thought it was a thing every excited beginner does (I did). Anyway, giving back profits is a thing I struggled with too. Basically going for smaller targets fixes this. Shooting for 1R is basically enough already. If you make 1R on average you'll be at 20R on the month, which is really good. The hardest thing for me currently is being patient. I think I’ve found the dip but it turns out to be a 7 layer dip I was not ready for :p thank god for stop loss setups lol 1%, yes,very realistic expectations You running a discord or anything??? Need more traders to talk to! Settled funds stops this Can someone explain each of the categories for an award?? This is eye opening for me 1% compounded every day is not easy because you're putting up your entire capital every day, sometimes you will feel like there are no good trades and force yourself into a bad one just for that gain. I have no idea what any of this meaaans As a moron can someone explain this to me I haven't double checked your math, but this is why I don't understand those who take out profit daily/weekly/monthly unless it's absolutely necessary to survive. Assuming I can stick with my goal/plan, I would only pull out enough money to pay quarterly taxes. Ohhh man, I remember I was having something like this, then I woke up. With a post like this, I think that you should share your trading history of the last 6 months (not hypothetical next 12 months.........) What about taxes? 1% interest and 2% inflation I will gladly take .01 cent and double it everyday for 1 month- 31 days I need to learn how to do options This is EVERYTHING day trading needs to be and should be. Hopefully more newer traders realize this and get away from expecting GME results every trade. Thanks for sharing OP. 💯 Must be a powerful strategy, considering is making you money in the future How are you earning so much monthly interest off just a 25k account? I'm just starting with real money (have been learning and watching for 4 months) my goal is just 10 bucks a day. That's it. Once I feel I can do that fairly easily and consistently I will up that goal. I've learned that I tend to stet grand goals and then when I can't reach them I get frustrated and unravel. Aim small, miss small. This is a marathon, not a sprint. My current strategy involves a single good 5-10% trade and then forgetting about it for the rest of the week. I shall not reveal my secrets. Are you consistently hitting 1% returns on your entire account? That seems...insane. Interest? That’s for the buy and hold crowd. I’ll take my scalp trades thank you So you guys all realize that this is projecting a yearly return of 1000% when the top hedge funds out there maybe hit 50% right? Wow this is terrific. Can I message you to know more? What are you earning interest on? This could be misleading. Do the earnings you show already include salary deduction? I’d assume on the very low end ppl need 2-3k a month to live above poverty. Assuming you’re living well above poverty levels with these kinds of earnings - I’d venture to guess you need at least 4-5k a month. When you factor that in, depending on where people live, the balance growth is far less impressive. Then factor in the capital gains tax you’ll pay on these earnings, even less impressive. Don’t mean to be negative, but most people who want to day trade full time have to take a salary to pay for their lives, so representing this properly is important as to not mislead new traders. My goal is 10% average per day which doubles my whole capital in one month. My first week I made 30 perfect of my whole capital. If you do the math that will double your capital in one month. Naaaah i just like the game and really like to become ugli rich, my🤲💎 are AMC, apes together strong Lmao. 1% a day. You realize that anyone who could actually do this would be the richest man in the world in a few years? How can you have diamond hands with day trading? 🤔 Except how many people can actually do this. I couldn’t. 😂 [removed] What is the screenshot from? What brokerage do you guys recommend for day trading premarket? What are your tactics Friendly reminder. Good for you brah What did you put money in? Is this from dividends or growth stocks? What percentage of your account do you trade with to earn 1 percent ? small steps You know how hard it is to get 1% returns daily on your entire account ? I’d be the richest man on earth if that was easy. It’s about cutting your losses early and taking your gains when you can. fucking amazing This 💯 A 1% daily return will turn the $25,000 minimum balance into $1,000,000 in less than 18 months (including the 9 weekdays/year that markets are closed) Any examples of types of trades you do? Only one problem with this. Making money every day is literally impossible and nobody has that kind of oracle trading talent so like 1٪ of the account? You trade with your whole account each time though? I've been relatively consistent with being able to snag 1-3% multiple times a week (not every day), but I could never get myself to go in with my entire account balance, so it ends up only being like .5% profit. Are you trading shares, spreads or buying options? Honorable progress! 🏆 This is also like trying to turn 300 USD into 1 million USD by making 20% a month. This is extremely easy to reach for the same reason it is extremely hard to reach namely because people have a calculation for compounding BUT they DO NOT have a strategy to reach this profit level. What you are aiming for by going for 1% daily is getting between 10-20% profit a month (depending on how many trading days there are in that month). Is this doable? Absolutely! Ed Seykota turned 5K into 12 million. Richard Donchian turned 2K into over 400 million (then lost 200 million). The point is, you need a strategy to turn this plan of 1% daily or 10-20% a month into reality. Without a strategy, you will fail. Also, markets always change and therefore you may need to modify your strategy a bit and that changes the profit level. But try it out! I am at around 15% profit a month after losses. I try not to push too hard. I don't set a monthly goal. I just trade when there are setups. If there are no setups, I just wait for the next day to come. If I try to meet a monthly target, I start to move away from my strategy and begin to see trade setups where there are none in the effort to meet my monthly goal. You can only set a monthly goal if you know what the markets are going to offer and no one knows this! So, 300 to 1 million through 20% compounding is doable ONLY if you have the right strategy and stick to it! AMC is on the rise!!!!!! You should be daytrading stocks that are going to MOVE. I wouldn't waste time trading any stock that isn't going to move less than 5%. If you have an edge(meaning you have a sold win-rate, and you are taking trades with a favorable RRR(min 3:1), 1% just doesn't make sense. Why not be happy with 0.3-0.5% daily? still is great , it’s PER day still. Nice job! Keep up the good work. Update ? This is the way we should discuss compound interest forever Cool thing about this is you less money each day! Consider also a giveback rule cabron. Once you hit your target you can keep rolling if you want, but once you give back 25% you gotta shut down Maybe try using part of the profits for a stop loss and stop at a predetermined point if it fails. Up 500$, then use 200$ of this as a stop loss whether it's a single trade with a 200$ stop or 2 x 100$. If you win trade 1 at 2:1, up 700$, you could then lose three in a row and still walk away with 400$ which is over 100k yearly. I would adjust it after each win.. If you lose the next trade then we call it a day at 600$ profit. But if we win and go up to 900$, then I have two more losses until walking away with 700$ profit. Try to save at least 300$ every weekday and in one year you will have over 100k (78k + 30k u have already). With a larger balance you could make lower margin trades and still earn much more money. Most important thing imo is being safe and consistent until you get to around 70k+.. Still be safe, but you could safely risk more at times with a larger cushion. I am in the midst of a reboot and heard, “don’t trade to make money, but trade tactically to minimize loss.”Have patience, wait for setup etc. I see how thinking about it that way could force some patience. What is your strategy each morning if you don't mind me asking. Yup...shutdown by 12 and go have a nice lunch with wife or girlfriend....that's what I do How did you learn to trade? What hours do you prefer to day trade on? First 1-2 hrs after market open? After that you consider that to be the lower volume, more choppy hours? I had a similar problem, but mine was that I set my weekly goals too low. I was setting my goal at 5% but I would exit trades too early because my goals were too low and I was leaving profit on the table and you need that profit to absorb the losses. Now I aim for 7-10% per week and that's a good target that has acceptable risk for me as it's enough to challenge me so I don't prematurely exit, but it also doesn't tempt me to bet the farm on every trade. I have also struggled with this before and i personally (nowadays) try to have time frames instead of targets per se. Cause as you said, gains and losses can vary and more gains are always better, so why would i say no to opportunities? So i start trading at the US market open for about 2 hours. Then i'll step away and check back towards the end of the day, to see if there is any indication of structure breaks. If not, i'll take what i got, if i see an opportunity i'll jump in for another hour or so. For me, this is the only way i can control myself. Else, i'm going to check charts all damn day and cry over missed opportunities. Saying ""I've reached some level of consistency"" after a bull run that lasted several years means nothing. Are you scalping the SPX E-mini future in the first 30 min of open (i.e. 9h30) ? Hey so... with this strategy at 1% return daily for a year if you start at 10k... you get about a 900% return? That's pretty unrealistic right? Also a consider a loss streak rule too, x losses in a row and you’re out. Helps to identify the days you just got it down bad. Saved my hind more times then I can remember. This compound interest concept is assuming you trade your whole account value everyday, not just 30k. by month 12, you'll be going in with $350k per day. if you compound 1% just 100 days of the year, you'll only have 2.7x your starting balance I find the first few hours and sometimes the last hour to be best. Of course some days it can be good all day. But if you hit a mark you like, just shut it down for the day. Just because you CAN trade all day doesn't mean you NEED to trade all day. ""Work"" for 2 hours. Get your profits and enjoy the rest of the day. If you kept it up, within another 2 years you would be a billionaire After tax? It would all be subject to short term gains tax as OP went along, wouldn't it? How has this been going for you? Interested in an update :) Look again. He hasn't done this. 2022 isn't here yet. You don’t need to go “all in” on every trade to get that return. I scalp with $3-10k in capital typically. 10 scalps netting $30-100 each is $300-1000 using only 15-40% of my capital in each trade. You never risk everything, this is not roulette. You only risk what you're willing to risk and then exit if that point is reached. That's what a stop-loss is for, e.g. set it to 1%. WSB says wuddup I hope you post weekly updates to the sub on your 2% a day goal. You are doing better than most in your situation. Keep it up 🤙 500 can be 5k in a year, can be 50k in 2 years can be 500k in 3 years (according to his numbers) In third world country $6 is living like a king!!!!!!! But living in a 3rd world country your living expenses are probably less. Just keep in mind to be able to day trade you need min $25k in your account or you’ll face margin calls that will destroy you. I’m working on having that much in my trading account by Jan/feb but I want $40k in there before I really try to get into it so I don’t fall below the line Meh I guess I’ve seen this before, but it’s easy to get lost from the long term train of thought when you’re focusing on trading daily and so I’m posting it as a reminder. Keeping the bigger picture in mind sometimes gets forgotten about when you’re tunnel visioned on smaller time frame charts. A lot of this sub is repeated crap but there’s a lot of new people. I myself started with 1k just to see if I could do anything with trading and before I even began I ran numbers on 1000 at .25% every day for a year up to 5% a day for a year. Quickly realized 5% a day may sound possible but it’s extremely unrealistic. Are you me? I feel the same, ""Here's the dip...m and it's still dipping..."". This is why I am down 3k on CRSR. Lmao totally got seven layer dipped on some CSPs this week. Luckily the bots did me a favor and gave me a window to exit after three days of pain. With Theta strats this is less of a problem but it still got way uglier than I was prepared for on entry. Will reply back in a month with my 1% a day ;) Everyone who’s interested I’ll PM you a link to my discord tomorrow! Anyone else who’s interested let me know love sharing trading knowledge. I need more to talk to as well. The couple of people I was began trading with have a much more risky strategy. Day trading options and forex however works Not when you get above that $25k hump though! Edit: and switch to a margin account, of course. It’s a good idea for some strategies, but not for scalpers who need their capital for 20-30 intraday trades. Not necessarily. I only trade on a cash account and it just depends on your R factor and how many trades a day you target. I do 1 to 2 trades a day at 1%R and typically never run into buying power issues. It doesn't stop it, it slows it down. Before 25k Margin, you need to split your account and use half every day. It takes longer for the growth, but again the whole point of OP is SLOW SOLID GROWTH not ""iTs TaKiNg tOo LoNg!!"" Settle down, relax, and make that compounding interest. You don't need to use all 30k to make 300 bucks in a day... That is not even close to what he is saying.. You could ask u/1r0nyman That’s exactly what you, and many of us who are less than a year in should be doing. Aim for small, consistent wins. Learn from the losses, and you’ll know once you’ve got yourself to the point where you can start to play with a little more capital and expose yourself to a little more risk, but keep it tight. Moonshots always sound great, but rarely pay off. Be the tortoise, and cruise along the streets littered with dead bunnies on your way to your goal Man, I love this. I’m going to do this and get back on my feet. Thank you. That's what I should be doing after my initial gain, but I get a little greedy and lose some of it forcing more trades lol. Good idea Swing trading? ❤️ Hedge funds are investors not day traders or scalp traders. OP is only trading for one hour every morning and then moving on to their day job which pays the bills. Yes, but is is also exposing yourself to a lot of risk, over leveraging and potential drawdowns and inconsistent results. There’s just no way to consistently make 10% a day, you’d be a trillionaire if you could do that lol. 10% a day average would double your capital in 8-10 days, not sure how you got a month. I believe I plugged in this calculation starting from March 29th, so it’s probably just counting 1 day from April 2022 or something because of Leap Year difference, hence around $3,000 profit (1% of $300,000) Webull Not to be condescending. But your ""analysis"" fails to consider several obvious fact your position size cannot scale infinitely. Love this idea. Thanks! It’ll of course be hard to hit an exact % consistently each day, so this is a good way to not limit yourself from more gains but also capping your downside risk to the daily target. That’s is awesome advice thanks. I’ve tried to make $500 a day but I think the 1% rule is a much better and safer way to grow my account. I like that If the goal is 1% then giving back 25% seems like alot. Wouldntile 5% be way more realistic I wish I could set those rules in my broker account and then have it not let me trade. I lost 20% on an account yesterday that was way up when I got in my head and started revenge trading. It will be weeks before the account is back to what it was. Great idea. Thanks for your input! I'm all for day trading but I see so many traders talking about making so many trades per day for very little profit in order to make it add up. Why not just set a realistic but generous profit target of say 15-20 percent and make an ass load of money everyday with only a couple of trades..its completely achievable if you know how to use a candlestick chart in real time. Strongly agree. I trade futures and usually do very short term scalp plays. I reduced my trades from ~100 per day to ~10. And my win rate has gone from ~50% to ~70%. Losses are half the size of my wins. Just being okay with missing opportunities and being hyper-selective with setups/plays has greatly improved my yield (and consistency). It’s only a side gig for me, so not playing is really not a huge deal. I recommend people who are in the same boat to remind themselves of that. And you will likely be better off for it. [deleted] I've never heard this but I'm adding to my strategy. Thanks Patience is everything. Also, I would argue that having a set goal for each day could do more harm than good. While there are definite possibilities to make money each day, I think it’s unrealistic to expect to successfully and consistently execute them every day. Successful execution when day trading requires patience, and the ability to take emotion out of the trade. This expectation to meet a set goal could be more likely to encourage trades made on impulse or without proper research/concentration in order to meet goal. At least this has held true for my particular strategy when day trading. Thoughts? 6am: Alarm goes off. 5 minute meditation/prayer to relax the mind. 6:10am: Brew morning coffee 6:15am: Sip coffee and open charts. Fill in my watchlist for the day based on small cap runners with >25-30% gap up and at least 3-5million volume traded in Pre market (better if 10mil+). 6:25am: Narrowed down to ~3 stocks I will watch out of the open from my watchlist. All support/resistance lines drawn (look for any key levels on daily chart as well) 6:30am: Market opens. Wait for 30 seconds to a minute to see which small cap runner is looking most promising, holding price well, and best to scalp for the first 10-15 minutes. Many small caps that gap up in pre market end up flushing right after market opens or after a quick pop. I’m looking to see which ones hold well and have a catalyst. 6:35am - 7:00am: Continue to scalp the most liquid, up trending small cap stock(s). Buy the dips, sell the rips, maybe 15-30 trades. Not chasing breakouts, but selling my holdings into them. Will miss out on gains on occasion but it’s much more consistent to not buy at breakout levels but instead sell into the initial pop after buying the dip. 7:05am: Upload trade log to TraderSync and move onto my 9-5 day job. Read. start small. Trade. Do written postmortems daily and weekly. Find what works and what doesn't. Go broke a few times. Then you'll start making money. Again, don't put all your money in at once. +1 People are unfortunately reading into this post much more than I anticipated. It’s meant to be more of a reminder that small steady gains add up. Of course you won’t be going in with $300k to make $3k. I’m saying that keeping the 1% daily target in mind rather than chasing a home run play on a penny stock or AMC/GME type stock is much better in the long term. Neither are very likely, the higher capital the less likely you will gain high percentages. 1k 1% 700 times is around a million 750 times (3 years) is 1.7 or so. If you’re playing in a Roth IRA it’s untaxed but normal investment brokerage is taxed yes. I trade alot like you, was just trying to bring up what some where thinking. Are you using brackets at all for this? I’m trying to come up with a strategy using brackets and afraid going to end up selling too fast if a $2 stock goes down to $1.98 Also, what stock price range do you aim for? Isn’t it just as hard to constantly trade at high frequency and constantly pull off profitable trades? How do you determine the position size? What is keeping you from going bigger if you're comfortable with your winning rate? The way you're describing it you're actually doing 10% profit a day on your trades. I'd like to see daily with some DD and perhaps play by play. That is, if you’re in the states... Oh shit that's good to know. I looked into TD ameritrade (where I was planning on doing stuff) and they didn't seem to have that but I'll double check before going at it the first time. Might be best to set aside $100 here and there to get something together. I thought cash accounts didnt have this problem? RemindMe! 1 month “go for gold” Great goal! Do it! I want to as well. I need a little bit larger of a balance I think as I’m under 25k still. What brokerage do you use to day trade that early? RemindMe! 1 month “go for gold 1%” Count me in 🙋‍♂️ Can you recommend a discord group that isn't full of the meme stocks??? That does not change settled funds it actually is what the OP is saying. if you don't use your entire capital everyday, you will not even 5x in one year. 300 a day makes \~$60k a year if you're good, and if you start with $25k PDT rule, that's only 1.4x profit. Maybe when I have some money available, for some reason I keep buying a certain of popular stock. No Makes more sense then. Just would be helpful to clarify this when you post gain porn. I’m using a cash account. But of course you’re not going to make 10 percent every day but still it’s not too optimistic. Lol I agree, I made 500 with a 2k account in five tradings days with a average p&l of 10.55 %. Still my target if it happens but I accept anything I’m not greedy but a goal is a goal. If I can show I’m compounding my account by 1% every week day for a year then I would present this to family whom would then give me money to invest. I then show outside investors how I’ve been seeing daily 1% gains with no losses and they hand me their money. I register with the sec and get licensed to run a fund and report 1% gains every weekday. I’m now ranked the number one performing fund manager in the world according to Forbes. Billionaires flock to me to invest. Warren buffet is like duck it I’m handing over Berkshire’s assets to him. I now run the largest fund in the world making 1% gains daily. My bonuses are $10 billion yearly not including my base pay. I am now the richest man on earth. Cool stuff 25% of the gains. So if your 1% is $1000, and you hit $1000, you quit if daily P/L drops below $750 Wow why didnt anyone think of just making 15 to 20% off a single play everyday? Were all idiots- great idea! I believe that ""mak[ing] an ass load of money everyday with only a couple of trades"" is everyone's first goal. Next comes reality. Have you ever traded? It's a numbers game. If we assume all the trades are good trades and not chasing junk then it's worth doing a lot of them. It's just a game of statistics and probability. If you win on average 2:1, even with only a 40% win rate you are very profitable. Each trade is 7,500$, aiming for only 5% profit at 2:1. 15 trades going 6W - 9L 375 per win, 187.5 per loss. 2250$ wins - 1687.5$ loss = 562.5$ profit averaging 37.5 gained per trade. If all the trades are good then you can probably average higher than 2:1 and maybe higher than 40% win. My issue with that many trades a day would be that they probably aren't quality trades. At least for me they would not be. Yeah, thinking about the money you might make makes you jump too soon or take excessive risk. I think it depends on the day's action and strategy. If your strat is dependent on 2x winners for every 1x loser, then premature closing makes it mathematically less likely you'll make money over time. I think the takeaway about minimizing loss is less about the management in a given open trade, which will end up one small data point in a large set, but more the avoidance of less ideal trades from the start. That’s one way to look at it. I kept a journal on some futures trades for awhile, and I couldn’t believe how many times I lost just because of moving the stop. So the opposing schools of thought to that is, why did you move the stop? Your trade entry should be a better than average possibility of reaching profit before loss, if you think at some point during the trade it will reverse and hit loss, it’s not a trade you should take. I see the point of that, but I too still had problems not touching my stops, thinking about it the same way you are. Again though, there were a surprising amount of trades in my journal that would have been huge winners if my stops stayed where they were upon entry, basically the trades would have worked the way I put them on, but I interfered half way through. Once I added those to my losers, my strategy is a dead one. You must be new Yeah, anything that pushes you to trade outside a good setup shouldn’t be involved, that can go either way based on personal taste. The hardest thing to do sometimes is stare charts all day looking for something and not trading in the end. I disagree. Having a set goal allows me to pick the stocks that have the greatest possibility of hitting that goal. And then when I hit it, I'm out. If I don't have a set goal, when do I get out? That is when greed comes in. Why take 4% when you can take 6? Why take 6 if it might hit 10? I'm either chasing an impossible profit dream, or now in the negative and chasing to hopefully lose as little as possible. I'd rather take my 4% and be done, or lose at my stop and be done, and stick with a consistent strategy. The only emotions that come into play with me are when it gaps down and stops me out. And then I get over it in a couple minutes and get on with my day. I envy west coasters for this. Wish I could get my trades done before work starts, but the market doesn’t open till an hour and a half after I start. Lol like the routine. At 625 when you find support/resistance, are you using daily charts for that? At 635 how do u determine a dip vs the gap simply filling? I have tried using hammers on a 3 min chart but I do not have success w that. Good stuff. Thank you for sharing. Have you tried the strategy of only buying at breakout or continuation levels? For instance, rather than buying on dips which could turn out to be dumps, I’ve been having fairly consistent success setting a but stop limit order above a resistance level such that a high volume push will pick it up and carry away until a second clearly defined resistance level is reached. Sell 75%at that resistance level and let the remaining 25% run higher or hit a stop loss below support or at a trail. It’s been working so far for me. What’s this practice netting you? Thanks for sharing. What platform do you use to check data at 6:15? Thanks When you refer to 1%, are you calculating your account balance 1% or 1% of what you put in the market that day? I am taking this approach as I am learning too, but I am not off to a great start these passed two weeks. Noice.... remembering consistency cannot be ignored... Interesting that you look for a gap up and traction. I don't have the luxury of lots of quick trades and small gains as for the US trades I've got an FX cost with my broker's margin so I tend to go the other way. Gap up, some buying volume, let the profit takers get their fill to pull the price back and then move circa 30 mins to an hour after open if there's still buying pressure and the price has settled below the open. What tools are you using/broker if you don't mind me asking? What brokerage do you use for trading so active premarket? this is how Madaz grows his account. He goes all in, boom or bust. Yeah I completely agree, even though 1% seems like a small amount it is difficult to achieve everyday for years in a row. This is my first time in this sub. I'd always been taught a Roth IRA was for mutual funds, real estate, or select commodities. The things one learns. So, no tax because tax on the principal is paid up front. Are there penalties due to liquidating stock holdings in such a short time, even if it's going back to the investment brokerage which is the custodian for the IRA? Yeah it’s good to clarify, thank you for mentioning it. I'm guessing the determining factor on order size is volume - there has to be someone there wanting to buy when you need to sell. So being a pattern day trader means that you buy and sell or sell and buy the same stock in the same day at least 4 times in a 5 day period. That applies at TD too, pretty sure it’s everywhere. Pattern day trading is what you need the $25k for, which is what a lot of these guys are doing. With a smaller roll you’ll want to do swing trading, which is where you hold a stock for at least a day up to a few months so you don’t get dinged by the pt rules. Still have to pay regular gains taxes on that kind of income, same as day trading. 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You would switch to a margin account at that point and settled funds don't matter. Why would you keep a cash account once you’re out of PDT Um I think your missing the point of his post. Yes this is a representation of a 1% gain compounded over a year is. But we're in a daytrading sub. How you arrive at that 1% gain per day can vary extremely significantly... You shouldn't need to trade all 30k to make 300 bucks day or 60k to make 600. Also your math on the 60k isn't how compounding works... It’s a joke, he turned 5k into like -70 with a dumb ass spread setup Well, it certainly isn’t day trading, eh? https://www.reddit.com/r/Daytrading/comments/mei96i/comment/gshmrwc One off trades like that are great when they happen but I would be wary of setting a goal of 10%. You’re either just setting yourself up for failure, or you might chase a risky trade too far and lose a lot of money. The best of the best traders don’t even make 1% a day in a good year (that would be 37x your capital in the year). I would shoot for 0.5% per day average or even lower tbh, obviously if you have good days and make more that’s great but realize that even just half a percent a day is 6x over the year (meanwhile the S&P does about 2x every 8 years). 1. You cannot scale any strategy infinitely. 2. No one ever said ""no losses"" Like I told another person, I do it successfully several times per week. I'm not trying to brag or anything just being honest..I have very little interest in making 30 trades a day and and spending that much time looking at the screen with my blood pressure that high lol..of course I do most of my trading between 4am and 9:30. Maybe that's how we are different . I do it successfully several times per week..just being honest. Pretty much. Or actually making trades that are too small. I was originally playing with /mes contracts, and losses were not that huge so I was a bit more reckless. But it was death by a thousand cuts (similar losses to wins and commissions gave negative expectancy). Now trading with /es I am far more cautious. Overall, it is far better. Every step I raise my stop loss before I hit my profit goal is that much more chance that I get stopped out before hitting my profit. If I wanted lower profits, I'd set lower goals. it has different results for different strategies. for sure. I think anybody adding any rules to their strategy without testing them first is a fool, tbh. depending on the timeframes in which you trade and what sort of entries you take it can either help or hurt your returns. it nearly doubled my profit expectancy when I started doing it. I see your point and agree that it’s important to have a point of reference so that you can measure whether day trading is lucrative in the long run. I guess I was speaking on how having a daily goal vs a weekly or longer term goal may be unrealistic. My goal has always been to profit and then get out, but my strategy (while proven successful for me) is probably vastly different from a lot of others’. That being said, if you find a strategy that works for you then go for it! There are guidelines to what one should do to be successful but one has to research and find what works best for themselves. Edit: obviously everyone’s strategy is to profit and get out. I meant I don’t have a daily goal of how much I need to profit before doing so. Some days it is a meager profit, others are considerably better. This my mindset. Again, different for everyone Try the 5 min & the 1 min simultaneously I’m only up around 30% on the year from my $25k starting balance, nothing crazy. I was up around 70% at my peak and currently in a drawdown period from that point. I haven’t implemented the 1% compound approach yet, and so I’ve been foolishly giving back lots of profits lately after 7am PST. I’m hoping this new plan of aiming for small wins and closing up my trading desk before giving profits back will yield much better long term results and consistency. Trade Ideas scanner. You don’t even need a subscription for this, look up on YouTube “small cap scanner” and find a live stream video for that morning. Usually use either boiling room or precision day trading channels video. I’m talking about 1% of your entire account balance. It’s an aggressive approach to some, but in day trading you can make a lot more than investing. $300 profit from a $30k account. Then the next day your balance is at $30,300 so you aim for $303 profit, so on and so forth. It’s basically a good target to aim for rather than having wild swings of +$1k, -$700, +$2.3k, -1.5k, etc...small and steady wins the race. Never exposing yourself to too much risk at a time, and as your account grows, so does your position size. Read my comment below though about not using your entire account in a single trade to accomplish this. Especially only using $1k since you can only trade 3 times per 5 days To my knowledge no, there’s no penalties unless you withdraw from the account prematurely as since you mentioned taxes were paid upfront. Do you find your winrate is way higher than most other traders by doing small scalps? I also trade like you and out of my last 50 trades only 6 were losses which is a lower winrate than I've had in months Not at all certain but, I think it kicks in even if the trades are different stocks. I don't think it has to be the same stock multiple times. Remindme! 1month Oooh! I'm interested Hey there, I'd love to join the community as a newer trader! :) What’s pdt? Wish I could read all 1000+ comments. And most people don’t. Right! You can tell the new traders in this thread for getting all excited over this. If you’re making 10% per month you’re already a hell of a winning trader. The OP is talking about making 30%+ per month and this guy is going as far as 10% per DAY. Mama Mia are these people in for a rude awakening. One potential problem is that you need more money on the trade and higher risk.. Let's say the account has 30,000$. Shares are 10$ if we are hoping for 20% then what size stop loss, need a little wiggle room. 9.0 - 9.25? Let's go with 9.25 here or 0.75$ We want to do less trades, more money so what, half the account, 1500 shares? The stop loss would be 1500 x 0.75 = 1,125$ or 3.75% of the entire account. If you lose that's a pretty big negative hit. Now sure if you have an account with more than 50k you can afford to take those larger risk, but 30k and below it feels too risky for me. Now if you close that at 20% or 12$ it's a 3,000$ profit. If you had a 50k account then that same example is only risking slightly more than 2% instead 3.75% @ 30k I try to risk 1-2% so 10$ a share on a 30k account, let's go in the middle with 1.5% or 450$ stop loss. 450 / 0.75 = 600 shares. Even if we close very early, aiming for 7.5% profit at 10.75 / 1:1 risk, it's still a good trade with 450$ profit. What kind of trades are you talking about doing 30 a day? This example seems pretty safe to me and 450$ a day everyday is over 100k yearly. I keep thinking of someone doing 10,000$ trades and only making 0.25% x 30 a day. Yeah exactly. Okay, we have a similar goal. Profit and get out. My TARGET is 4% per day, but anything over 1% is fantastic. On Friday, I modified my sell to about 3.5% because I didn't think the stock would go up another $.02 before turning around. I was wrong. It went up $.03 and then turned around. I took less of a win, but I was correct in reading the turnaround and I would have been stopped out from the drop - I just misjudged the top. BUT FOR ME... I need a DAILY goal. If I set a MONTHLY goal, then I'm fucking around for 29 days and trying to make up for it in the last 2. But if every single day I am working for the daily goal, that is 100% the best I can do. A one min hammer within a five min hammer? 30% is awesome.thats doing great in my eyes. I'm up 22% and I'm happy. I'm sad that Feb 18th I was up 75% and watched it all go away by holding. I gotta learn to take profits. Almost hit the $50k mark and started with about $18 grand last year. Sorry according to your pic over there you turned 25k into 330k in a year and you are up 30%? how does that work exactly. do you know what caused your 40% loss? was it overtrading, or market conditions? you say you only trade those volatile morning gappers. Those stocks scare me. There's no telling which direction they will run. > Trade Ideas scanner. You don’t even need a subscription for this, look up on YouTube “small cap scanner” and find a live stream video for that morning. Usually use either boiling room or precision day trading channels video. Thanks!!! Thanks! I appreciate the quick reply and patience in the explanation! I am starting off very small, and hoping this type of slow and steady will work for me. I’ve been doing it from the 1% being placed into the market, which is also very small on my end. It’s been a blessing and a curse as I learn. It took me about a week to make $80, then easily lost $100 this week due to my wrong picks. It’s a humbling, and defeating experience to say the least. Not if you're in a cash account.. FFS Get off robinhood lol My win rate is about 90% I usually go down to a 5 min chart to 15 min. It sometimes hurts me because I don't use stop losses due to hunters and noise. If it blows through a area I alot of times will cost down with another strike price. I will continue to scalp the other positions until the others have went back green or I have made a good profit and just close the one as a loss. Yup, so I didn’t say that it has to be the same stock all 4 times. Just that the same stock has to be bought and sold in the same day 4 different times. That can be the same stock all 4 times or different ones each time, but they have to be bought and sold or sold and bought in the same day You really should do some research if youre in this subreddit and not know what PDT is... Lmao yeah I don’t think people are accounting for the losing trades when they come up with these numbers. I dont do stop losses at all. I would rather go red on a stock I'm holding then be stopped out when the big money sells for cheap shares. Without a stop-loss I atleast still have control to average down on a stock. With a stop loss I can be manipulated into selling a losing position. 5 min hammer and 1 min candlesticks to scalp the trends momentum Boy, 2 weeks ago I hit $53k and was on top of the world.. Now I'm back under $40k. I feel your pain. Agreed. [deleted] do tell. I’m a noob. PDT doesn’t apply outside of RH? Cash account still have to wait for the cash to Settle which is 2-3 days Ok glad to hear the same. I use one minute candles, single ticker only, very very rarely average down, and most wins are around $200-800 with most losses being around $2-3K Hi there, Kvo! Sorry - I only just noticed you replied! In case anyone else reads this conversation and is confused... This is from 'Investopedia': ""A 'pattern day trader' (PDT) is a regulatory designation for those traders or investors that execute four or more day trades over the span of five business days using a margin account. The number of day trades must constitute more than 6% of the margin account's total trade activity during that five-day window."" In other words - assuming it's a margin account and the 'day trades' are large enough - An account will be flagged as a 'PDT' if the trader makes 'day trades' (buying & selling the same quantity of the same asset in one trading day so it's not held overnight) and they make four of those trades in one five business day period. So no, it doesn't matter about the symbol/s traded, it's all about it being a total of four or more 'day trades' in any one five business day period. This is a helpful guide: [https://www.investopedia.com/terms/p/patterndaytrader.asp](https://www.investopedia.com/terms/p/patterndaytrader.asp) Thanks for the tip, fuckface. You do realize there are always new people joining subs all across Reddit, right? This isn’t an exclusive club of experienced day traders. Obviously I’m in the early stages of doing research, and asking questions here is one way to do that. Eat a bag of dicks Yeah, for me it all depends on the type of trade. I will often buy safer, more popular stocks that I feel worst case scenario is that I hold for a relatively short period and end up selling for a profit at some point. SNAP, UAL, AMD, VWAGY are some recent dips that have turned out well. The total amount of these moves are enough to make the time and profit worth it, but not large enough to where if I have to hold for 6 months+ that it doesn't mess me up. Even if these fell by 20% I would hold them all anyway since I was not randomly buying only based on a pattern or by meeting a specific criteria. These are stocks I bought because they were at optimal times to buy and I am confident they will go back up. With these cheaper stocks where the moves are based on patterns and probabilities, then I am using a stop loss and closing it out that day. I don't trust holding a stock that was only purchased based on patterns and having good odds to win. I don't mind being stopped out on these types because in the bigger picture it's a positive net gain. If each of my wins at least offsets a loss and I win more than I lose, then all is good. What do you do when a 3$ stock shoots to 8$, consolidates for a bit and then sets up for a nice play? It could potentially fall back down and never go back up or you short it and keeps going up? I've seen this happen a lot on some of these cheaper stocks, makes me too nervous to go no stop and end up -70% and company never recovers. Random question as I’m newer to all this, which platform have you had the best experience with for charts? We'll get back there soon. why bother with a comment like this? The dates are apr 2021 - apr 2022. That is one year. The balance goes from 30k-ish to 300k-ish. That's not a fucking 30% increase. it's 1000% increase. I believe its only with margin accounts Try keeping one brokerage as a cash account if you wanna day trade (more often at least; I’d never recommend day trading as a lifestyle) w/o having to maintain the $25k+ balance necessary. Shortly after my newb-ness, I opened a cash account w/ a second broker & moved roughly 25% of my capital there. Gotta make sure you have enough $$ to make trades at the size you want to, while still having enough liquid for other moves, as you won’t have access to Margin w/ a cash account. You’ll also have to wait X amount of days to access funds from a winning trade and/or make a withdrawal... There are weeks I make 30+ trades & there are often weeks I make only a couple, but having the option until you’re scaled up is a luxury — and of course, sometimes a curse... But that’s what we signed up for. 🤷🏼‍♂️ Best of luck. RH is one of very few brokers that defaults your account regardless of size to a Margin account. This allows you ""instant settlement"". But it means your account now falls under PDT rules because you are trading with funds before they are actually settled... With a cash account these rules don't apply besides a good faith violation. This allows you as many trades as you have money for in a day but you have to wait for the trades to settle after you've sold them. This can take between 1-3 days depending on the ticker/trade/broker.. Yes you do need to wait for this but for a 1000 dollar account that is more of a feature than a hinderance. If your trading with your entire account everyday at that level your definitely over trading and/or yoloing... Either of these options means you should want to have the ability to do a day trade ""get out of a winning/ losing trade"" without it counting against you. It also means whether win or lose you should be taking some time off after the trade, emotions are your enemy... If your trading intelligently with good risk reward plans etc. Then each trade should only be a relatively small percentage of your account you should be easily netting the 1% a day goal while only trading with half your funds for the whole day... $10 is a really easy goal to achieve even with limited funds... The amount of people I see losing money on winning trades because they are up against the pdt rule is pretty staggering. The worst part is it's all because of a really simple rule that should help them if they understand it... I like Thinkorswim from TD Ameritrade & Webull isn’t that bad for charting either. Two I’m curious on trying are Interactivebroker & another called Lightspeed or something similar I can’t remember the name [deleted] I’ve heard charts and spreads on Webull aren’t bad but as far as trades go that they can be kind of slow on executing at times. I’ve also heard good things about ToS. I’ll have to check them both out, thank you! I haven’t heard much about interactive brokers, but the little bit I have has been nothing but praise as far as accuracy and execution, but to go all in and get IBKR Pro and the few kind of deters me as someone who’s newer to trading, especially right now as I’m still reading, researching, and learning. I’m trading slower than most until I get a feel for things. I’ve also heard good things about tasty works Not only that be he even wrote 2022 himself lol [deleted] Yes TOS is my go to! I feel the same about IB so I’m sticking with these two till I get enough capital to try the others out, Tastyworks is in my radar too! Good luck in your trading journey Thank you for all the help! And same to you!" "I truly used to believe you guys were just gamblers, but after 1 month of everyday being green scalping I was very wrong.",1651,https://www.reddit.com/r/Daytrading/comments/nzq9f3/i_truly_used_to_believe_you_guys_were_just/,"The learning curve is INSANE. Thats the problem is so fucking hard that it seems that been profitable is imposible and all u can do is having luck (aka gambles) But is not, you can beat the market and make a life out of it. If u hold long enough to discover that discipline, pacience and study on the long term pay off calculated risk. May I ask how much you put in to make it worth awhile. You can PM me also. Ya dude. I agree with lots of comments here. There are things to read and try and educate yourself the best you can. And i still believe that constantly reading and educating yourself is the best. But. There’s also a steep learning curve between theory and application. This remains true for me and day trading cryptocurrency. I have not yet cracked my day trade code stocks. One of my biggest obstacles personally. I work my day job and can’t be making transactions at key moments. Whereas crypto I can after my work hours. My stocks are still a bit chaotic, inconsistent gains and losses. Good luck fam ! That last paragraph is key. Getting cocky is what throws off my p/l from an otherwise reasonable streak This is a good NIO month after several super bad months, so be wary, stop loss and all. Would you be able to point me to some resources which I can use to get started in day trading .. pretty new to the whole concept of day trading so any help is appreciated I've just blown my first account and appreciate the post Are you short too or just long? You picked a right time to come back when nio was down so much already so it is easier to predict directions This is the way i play. I bank 400 to 2k a day. Congrats! I just figured this out too but with spy 2 day options. Managed to turn $700 to $32k in the last 5 weeks! Literally only trade spy options Assuming you're in the US, how does the ""wash sale"" rule impact your trading? My understanding is that you won't be able to count any of your capital losses against your capital gains because you're re-buying the same asset within 30 days. Edit: It sounds like I was misunderstanding how this works, and that you can roll your losses into your cost basis of future trades and not get screwed the way I was thinking, but do you own research. Op, can I ask you this question. When do you know is the right time to take your profits? My biggest problem is I’ll make the money but then lose it waiting for the “right moment” to take it out. Well said OP! Fundamentals are everything, once you understand that you will grow exponentially. I like that you just trade 1 stock, I did that in the beginning too. Only trading eur/usd not even bothering with anything else. Believe it or not you will learn so much about the market and yourself that will help you grow and improve. Congratulations on your success, keep it up! Wish you all the best! 🙌🏽👍🏽 yeah it's definitely not gambling, so far I've been green but with a net loss (due to commissions) everyday daytrading so I'm trying to switch over to swing to limit my commission fees. It's not luck either. 90% of day traders will fail within the first 90 days. The reason? Fear and emotions. I failed for many years until I got a grasp on my emotions. Now I'm able to make money but it's not overnight. The past two years have been the first two years that I have had positive returns on both years. I put in alot of work and I stopped believing in the hype. Especially about what I red from different authors. Find what works for you. Skill > Luck. Believe in yourself and anything is possible. Feels like gambling with tesla never know what is good being a short or a bull....lost 3k today trying to play both side...goes all the way high comes right back down drops 12 points then shoots back up 12 points How do you even trade this shit What does your wash sale look like since you're only trading NIO? I like the ""NIO expert"" part, haha. I am a weekly options scalper and I can relate to this thing so much, although I trade a few more tickers. Each week, I modify my main watchlist with 5-6 tickers (SPY is always the constant one along with TSLA, RIOT, and GME lately. Names like SPCE, FUBO, TLRY, DKNG also come in my list frequently). I trade 1-2 from this list everyday unless I come across something hotter that day (e.g. today I mostly traded CRSR and NVAX options). per my mentor, ""u have pushed thru to the other side"" Trading is fucking hard! congrats! Congrats! I’ve had similar success swing trading the Bitcoin mining companies - Bitcoin goes up, the mining companies follow. Bitcoin goes down, the mining companies follow. Can’t get greedy…I typically exit after 15% run. [deleted] Excellent post, keep going. Do you use the EMAs on a 1 minute chart? I would assume that if you only trade the 1st 30 minutes. Teach me how to be disciplined on the last part of not getting cocky. I always see to try and do another trade erasing my original gains from the day.... Your 3rd paragraph is dead on accurate -- one can/may substitute stock/option/future/commodity/etc... Just remember it’s easy to respect the market when you are winning. Great stock to do that with. May I ask what your “system” is? Or is it more of an expertise through raw experience system? Also now that you understand what’s working in your case, what wasn’t working during those 7 months of failure? you just traded the wrong pattern or was something else? Yo hold up mr. Nio expert gimme them notes Ohh I love this strategy!! Right now I’m spread thin with all the stocks I’m invested in. I really want to learn day trading because I’m wanting to make a living out of this. I got it on investing so that I could eventually become a day trader. I own about 100 shares of NIO, it’s been one of my most promising stocks thus far. I’m going to narrow my stocks down and try to just trade the same stock. It may not work for me but it’s a strategy worth attempting. Mind sharing your strategy? Strategy Anyone have any tips on any good reads that helped you understand day trading? I 1000% agree. I was in on BB @ $9ish because of the potential to be a great long term. Reddit got ahold of it, so I hurriedly bought some calls and sold everything at $15. Could I have held and got more out of it, sure. But I saw the trend from the other meme stocks and I knew that’s where I DIDN’T want to be. Now I buy and sell 500 shares at opening to make a few hundred here and there, and it’s so automatic I can almost set triggers for it. Edit: By buy and sell @ opening, I mean short and buy back Tell us your NIO strategy pls! You know what the problem is for me? Funds. I think it’s wrong that you have to have SOOOO much money to be allowed to “day trade” which is just another word for having enough money to be in their little group. 25k isn’t something many that work like I do can just come up with. Yes this is often an overlooked strategy, once you discover a repeating pattern in certain stocks you can milk it for all its worth. Where did you start? I got into AMC because of a buddy and I know it is a meme but now I want to actually learn and make slow consistent progress. I am 28 and don't have a ton of income to throw at this but even if it is paper stocks, I just want to learn. Yes trading the same stock is easier but can you find everyday the patter you’re are looking for or because you’re trading only this stock you aren’t able to trade often? Can you share the resources where you learn how to scalp? and Congrats! That's some great work! So whenever you lose money, it's gambling. But when you gain money it's not? Gotcha. It's really hard not to make money these days with everything going up. You say 'thank you' to who? Anyone have thoughts on the best day trading apps/sites? Totally beginner question but how and where do you scan news? Do you read through all stock related news every day or put ""NIO"" in some search bar and only read the results? How can you also be sure that the news you read specifically is the reason for the price movement, assumption and a hunch? That wash sale rule going to get you if you trade the same stock everyday. Be careful. First of all, congrats OP! Secondly, as someone who knows a lot about NIO, how do you feel about it as a long term investment over the next 3-5 years? :) Great turn around! 🎉 Good stuff.. may the force co continue to be with you.. which broker do you use? I tried this process and didnt spend enough time to get it. Utterly frustrating and getting chopped around. Congrats and sticking with ti and ultimately mastering it. Do you get in with a bracket stop loss? u/h0tB0xing Since you trade everyday, does that mean you have more than the required 25k for the PDT rule? Or do you use an offshore broker? I find that I succumb to emotion easy. I’m 6 months in and struggling. Been at it every single day. This gives me hope that things will turn around eventually. Thank you. Really interesting strategy, thanks for sharing I do the same with Square. Many days I leave a lot of money on the table, but it usually pays daily. Made $1100 off of it today. I'll play it both directions. Now do it with GMEstonk! Just kidding, but seriously watching that bull flag break out before earnings was magnificent. Congrats!! I love hearing when someone makes it over the hump. Sometimes I still don't believe it for myself and am just waiting for the green to end, but it just keeps coming. Keep it up and hope you continue with the gains. I only trade spy options. Isn't it tough to get all 1k filled so fast if you are scalping? What is your strat? What’s your strategy? Please share. Glad the tide has turned for you. I'm in a similar boat and find my challenge is in not jumping the gun. Not getting cocky is good advice, even though I am already thinking of what is next in terms of progression. What helps to keep me grounded is keeping track and being disciplined with my trading log. I guess looking a year or so ahead, I'm wondering how traders scale up from trading just one favourite stock? Congratulations on your success. You are on the path to financial independence. You probably already know this but I have to post it just to make myself feel at ease. I didn't have time to go through the comments so I apologies if this is a duplicate. NIO has been on an uptrend since mid May, which makes it a good stock to scalp. Be on the lookout for it to pull back a bit. It will be harder to scalp on the downtrend. Keep an eye on the daily charts. Good luck with your trading! Teach me your ways! Lol What kind of pc do you use? I've been trying to scalp with tos but recently switched to tws because there is so much lag in tos. Time and sales just kind of blinks for me lol have you had any issues with this? Care to share your strategy? This is human nature. If you are profitable then trading is a job. If you are losing money then trading is a scam. Awesome job! NIO is a great trading vehicle. Super liquid, has (somewhat) predictable ranges & even if you totally screw up, you’re not stuck bagholding a ridiculously overpriced meme stock. Excellent r/r. Try futures. The ES (S&P E-Mini). You just focus on that one chart, and you won't have any liquidity problems when scaling, you can make a career on that one chart. It’s quite euphoric when you start making consistent gains. Like all of the suffering you went through wasn’t for nothing lol Scalping is risky but exciting. Missing those old days Genuinely, Good for you. But also the last month or so has been easy pickings. Let’s revisit when the market goes red again. Best of luck though. Are you scalping in for just a few minutes or swing it over night? How did you figure it out? I want to be able to do this as well. If there is anyway you could dm me that'd be cool I have some questions Think of climbing a mountain. Now make it invisible. Now climb it That’s day trading and it’s possible This is what it’s all about! Congrats my guy. Keep it up 👍 I understand if you don't want to divulge...but, how much trading capital do you operate with to get your results on NIO? Market been kicking my ass with price action trading. I’ll look into this trading one thing What is 1.5 risk/reward. It took me two years of losing every month before I became consistently profitable. If you KNOW inside of you that you WILL achieve success, you will achieve success. NIO you say…you choose wisely What brokers do you guys use for scalping? usually my comision would take away half of the profits if i only traded daily gains, not even mentioning losses. Is there a course that you learned the strategy from? I dont remember where I heard that quote, and it's not even the exact quote, but here is the idea : ""Playing the markets is like gambling in a casino, except the ""house"" is on your side"". Makes sense, since the market is --theorically-- always growing over time. [removed] Man I trade mostly FB SNOW and SQ, having a small list helps a lot It's still gambling to me. Send help. Is this the way? Pick one stock and become a technical wizard on it? Does anyone have any resources to learn how to read patterns or is it all hard fought money lost lessons? I'm new to learning about day trading and am struggling to find a reputable source. For how long are you usually in the trade? How are you profitable on flat days? Took inspiration from this post and tried trading nio today and went really well. Profited around $380. I had been trying to trade really fast moving stocks with really volatile swings but would enter at the wrong time with too much size. I think nio works great because it's ATR is around 10c. And I try to only risk $100 so this works perfectly. I was trying to trade stocks with an ATR of 50c to $1 and was never profitable. Great idea! What you've recounted is getting over one of the first phases of the trading journey. At that point at first thinking everyone who mentions success is just faking it, and that's likely 99.99% correct. But of the lucky and hard-working at trading few, they've usually gotten over a bunch of these phases over years, not months. Then learning the critical side of trading is controlling he losses and risk which is usually ignored or not taken seriously until more lessons are learned. That sounds good but keep in mind when you trade the same stuck within 30 days of a loss then that loss wont be deducted from your taxes and youll pay in on it. Are you still using a similar strategy now where you just learn one stock really well and scalp it based on feel? How has it been working? I can't even begin to explain how important what you said was, you need a few weeks of learning to even understand what the hell is happening. After that you need to pick up patterns, and get the larger picture. A stock is gaping up? its going to pull back atleast a little from hedge funds collecting comissions from selling, then it rips back up. I play both long and short. that's been profitable for me, playing the gaps. I’ve had the same experience, made lots of money, but now I have goals and it’s more emotionally frustrating. What if I’m not trying to make a living at it but just swing trade a few times for some extra cash? hahaha effing INSANE it is. 1000 shares about 40k, but think or swim gives you 4x buying power so you don't need a 40k account. I suggest finding your own strategy, and what works for you, this works for me becuase it works with my personality. you have to find what works for you, and that is by far the hardest part. He said 1k shares for nio in may. Do the math. Same inconsistencies with me. My issue is I have a night job. Supposed to be sleeping during the day Thinking the same. Its been a great month for nio. Timing was clutch but im not sure you would have the same results a few months prior to this month’s run. 1. candle stick bible 2. trading in the zone book 3. learn level 2's, time and sales, and different types of orders. 4. learn risk/reward ratios and what that means. resources don't do very much to be honest, you just have to trade everyday till you start picking up on patterns. practice in think or swim simulator before using real money, you will lose you first few weeks/months. [https://github.com/ckz8780/market-toolkit](https://github.com/ckz8780/market-toolkit) [finviz.com](https://finviz.com) [investopedia.com](https://investopedia.com) [tiingo.com](https://tiingo.com) [https://tradingmarkets.com/recent/stack-trading-edges-in-your-favor-1595478.html](https://tradingmarkets.com/recent/stack-trading-edges-in-your-favor-1595478.html) [https://www.nasdaq.com/market-activity/economic-calendar](https://www.nasdaq.com/market-activity/economic-calendar) Remove all indicators , look at charts, price levels , Trendlines Cannot emphasize enough on screen time, it’s all about Screen Time. Only book I would recommend it is trading in the zone, rest I would recommend is Screen Time I am both long and short depending on what the chart tells me. Nio is down from all time high's doesn't mean you short everyday. I wish it was that simple. Teach me your ways Please advise [deleted] At first i read it as 700k to 32k Had to do a double take lol That’s awesome man. What tells you to enter a trade? Do you play both calls and puts? This is insane....can I DM you some questions? Would you mind sharing what kind of delta you are opening with? Thank you the loss gets adjusted into your cost basis! i would look a little more into wash sales, but no there is no worry with scalping. Every time you make a net positive trade the previous losses (accounting for the adjusted basis) are locked in. Wash sales are of minimal concern when scalping, zero concern when you're in the green. Keep your losses low! 3-5% Bro there are brokers without commissions…. Just do the exact opposite of what you do when you lose Like anything else, buy the dip Is it me or has SPY been brutal to trade the last few weeks? Just chop, chop, chop. >m a weekly options scalper and I can relate to this thing so much, although I trade a few more tickers. Each week, I modify my main watchlist with 5-6 tickers (SPY is always the constant on how many DTE options atm or otm. how long u hold them really I only trade the first 30 minutes of the day. I watch for the Emas I have 20, 50, and 100. If they are stacked where 20 is higher than 50 and 50 is higher than 100 I will go long, it's clearly bullish. Now I know my direction, so I plan my entry and my exit. My entry is always on a pull back on a stock im longing, this is because 1. Higher profits 2. less risk. my stop loss is usually the low, or a whole number, or vwap it just depends, it could even be the low on the daily. Its honestly all dependent on what the stock shows me, I can't explain this part because each chart is different. I also use yesterdays close as an indicator, if the stock bounces off that on a pull back and it's a long I will take that. The rest comes from experience, if I go long a stock 31.40, and it can't break 31.50 then I will take my 10 cent profit why? becuase I can always enter back in when it does break it, and be much safer. You have to be pro-active in your trading, and make swift decisions. ONLY COMES FROM EXPERIENCE. BAM another gets it… I keep (4) watching personally. As I like to take “scalping” into “surfing” making crazy gains. Just make sure you go both ways. (that could really be interpreted wrong) 😬GJ! What is the strategy? Do you have long term savings? If you have 25k in your savings then you can put that into an account into something safe like SPY, and then use margin to day trade. I have around 50k in VTI and then have ~200k worth of day trading margin. Works perfectly. If you have what it takes to make it trading, you can eventually turn a cash account into $25k, spending your time under PDT learning and practicing. Give yourself a couple year time horizon Then go Uber for extra funds. You can daytrade all you want in a cash account as long as you only use settled funds. Stocks take 3 days to settle but options settle next day. Do u have any stocks that have patterns.. thx Paper trade for a year as if that fake money is your kids college tuitions and your retirement Very narrow minded response, the loss of money was market tuition which pretty much every day trader pays. Don’t be bratty A *trader* need to be able to go long or short. Instead of a snarky ""stonks go up ez game brrr"" comment, let's ask OP about his winrates for a) longs on a down day, b) shorts on an up day. Given he's scalping the overall market direction day to day is not significant. We've actually had some low volatility days the last several weeks, he's likely in a tougher market now than when he was losing money. a little psychotic, but to the market. If I don't respect it, I become very arrogant take more size, and start hemorrhaging money. that little act end of the day keeps me humble. Please don’t spread misinformation without knowing what you are talking about, it can really hurt someone. The wash sale rule doesn’t matter because my losses go into the cost basis. If you need further proof algorithms trade the same stock thousands of times a day. You need to learn what the wash rule is because during tax season everyone freaks out, and people like you only make it worse. It's in my long term portfolio, it will be 100+ I have no doubt in my mind. They just expanded to Europe, things are just beginning for her. In another comment he said he does have more than 25k and uses Think or Swim. You can also use a cash account. No limit on amount of trades a day. Just a limit on ""settled funds"". If you had a 10k account and used all 10k on 1 trade, you have to wait 2 days to trade. SQ has a great range everyday, same with ROKU, just gotta learn all tge important levels and you can be both short&long in any day How do you play SQ? Is there some predictability on its price action? market buy Have you increased the memory ToS is allowed to use? There is a setting at the log in screen to get to it. Just increase it and should be better He wrote ""just scalping it with 1000 shares"" So probably 50k Most of the major US brokers are commission free. Fidelity, TD Ameritrade, Schwab, etc. 1:1 = bad market, 1: 1.5 = decnet market 1:2 in amazing market. 1;1 means I risk 50 cents I expect 50 cents in profit. 1: 1.5 I risk 10 cents I expect 15 cents 1:2 I risk 10 cents i expect 20 cents. if it's flat Im not that profitable. Keep in mind 1000 shares of NIO is 70 bucks on a 7 cent move, so you can still profit albeit its going to be tight. For example today was very tight until fed news, only made 250 bucks. Hi. Please don't speak on topics you do not understand, I do not say this to be rude, I say this to inform you because around tax season comments like yours cause people to panic, and commit suicide lol. A wash sale can be counted on your taxes, of course it can. Think about it, how can scalping be a viable hobby if you cant deduct losses from the same stock. Just so you are clear this is how a wash sale works. Let's say I buy Apple and im down 3k on my position, I exit my position and buy back in before the year ends. Now I can deduct 3000 of losses right? no. because I bought back in, effectively giving you a free 3000 on your bad investment. Now... If I close the position before the year ends, I can count those losses because the position is closed it goes into your cost basis. Again please don't speak on topics you don't understand it is very very harmful. Would absolutely love to hear some more details about your strategy. Like you I had several months of no progress, but I am still committed to learning. How I can be red on the year when my girlfriend who just throws money at meme stocks that reddit tells her to is green on the year, is simply unacceptable. I know it’s hard work ahead but I also know I can do this. I’m just struggling with developing a working strategy. And i hate stocks and level 2 dont say nothing to me. But forex and market profile with a reversal strategy on lateral markets is something i understand and im profitable in. Thats the beautiful part All system works! The problem is finding the one that works for you. Every system flaw is always the human using it I never understood ""playing the gap"" until I read this pithy little description: >When a price moves up or down sharply, it doesn't leave behind any support or resistance. I still don't know how to actually trade it, but I at least kinda get it now. thing is how do u learn 100%. When I was new to the stock market, I didn’t understand the general patterns at all. Now I understand that the market is full over over and under reaction, and that there is almost always a counter move to a large swing in either direction. I personally love buying stocks that have dropped without catastrophic news. They will typically rebound and it’s much easier to buy and start in the green. Do a lot lost a lot. Now wining a little but not losing. Wining more each month Well more ez then. Just dont get greedy be disciplinate You can scalp trade with under 25k in your portfolio? Do you live outside the US? .. and here I am, scalping with 6-700 bucks account .... Hey can i ask is x4 buying power the same as margin trading where you can lose all of your money ? Do you have over 125k in your account? Doesn't thinkorswim require that for portfolio margin? Yeah dude. Can definitely relate. I have been reading up on forex lately. That idea just started 2 days ago so that will be months of reading before I even entertain dabbling with it. But it seems closed on weekends but 24/5 which again opens up some after work opportunities. Same dude. I'm trading since 5 months now (passively aka I'm not a day trader). I did 5 trades and I lost money in 4 BUT I feel like I learned a lot. You know obviously not enough but me losing money was kinda educational and my predictions have improved a bit . What patterns do you typically look for and trade with? Trading in the zone is an incredible book. It is a must for every trader who wants to become consistent. This dude knows^ Edit: to add. Supply and demand zones. Yup, don't over complicate it. Personally, I would also highly recommend Volume Price Analysis. Adding the volume analysis into the price action trading makes a massive difference imo Yep price action is all. I only use indicators after i enter a position for psychological bias. Indicators lag as fuck That’s not what he’s saying. Nio basically only went up for this past month. Pretty easy to trade one stock that was down over 50% from all time highs Stick to good stocks that should you go red you will be confident it will come back in a day or two. Use a direct access level 2 system (i use tradestation), learn MACD, RSI, buy/short on the reversals. Dont be greedy. Take a profit when momentum is slowing down. I don’t doubt that there’s any luck but I’ve been mostly accurate. Just gonna keep trying haha 700 to 32k has a high element of luck considering you are only dealing in one instrument 700k -> 32k is how most end up. 700 -> 32k is reserved for the best & luckiest ones (or wsb yolos). Yeah I don’t care which way spy goes as long as I’m on the right side. I simply mark key levels and use volume profile to determine possible sell points. Sure I could be wrong, but I think this guy was doing exactly what you're doing and really got screwed: [https://mullooly.net/800k-taxes-45k-profits/](https://mullooly.net/800k-taxes-45k-profits/) <--- EDIT: this article is crap! He bought and sold the same stock a bunch all year and ended up netting $45k in profits but owed taxes on every gain he made (a whopping $800k altogether!). His losing trades couldn't be counted as losses because of the wash sale rule. I'm not an expert at all, but I am curious how your trades differ from his if you could elaborate please. EDIT: Looks like the article I linked to is crap, and that if he rolled his losses into his tax basis like he should have, he would only owe taxes on his actual profits of $45k or whatever it was. Don't take my word for it though, I'm a noob. I thought you had to go 31 days between losses to be able to claim the first loss? Meaning, if OP doesn’t have trader status he is going to want to stop trading NIO at the end of November. Or else he will be taxed on all his profits with out being able to claim the losses. So say he ends up with 1m in gains, 900k in losses on NIO trading it every single day the market is open. He will get taxed on 1m instead of 100k. The 900k losses would be claimable on the following years taxes assuming he finally took a break trading NIO, or got trader status. not in canada man, sadlife. Yeah, true. I haven't been trading SPY for more than a month now. TSLA is showing better predictability with enough movements in the shorter timeframes. I always choose the closest expiration dates — so, 0-4 DTE. Mostly OTM options. My average trade time is less 10 minutes. I trade futures and still suck ass at it, but I've noticed a similar pattern. If I enter long or short and while closely watching tick data see that a price has trouble breaking an area that had acted as previous resistance/support, then I just exit the trade, take the small gains or loss and look for the next setup. I've gotten burnt a lot of the times before betting on a breakout at some previous resistance or support area and it ends up just stalling and then reversing. interesting, I trade similar with different MA's, but same jam. so you enter at a 20/50 ma cross or wait a few candlesticks after the cross....? We all know you had it in u😂 Don't be so condescending ... :( I started door dashing for extra cash (went very well) and I can't keep working extra because I sit for so long my back started to hurt a lot. But you'll probably say 'find something else' which I am but fuck you because you just want people going at full throttlel all the time :( E: spelling All depends on what broker you use but ok pal you’re the expert. No one has ever been screwed over by the wash saw rule. Thank you i’ll have to look into it! :) Thanks! Yeah that’s what I’m doing as of now. It’s not too bad Thanks, looking at it, it sure does! I've been looking for another one and COIN has been tempting me to learn it's patterns. More times than not it makes a big move on the open, and I counter-trend that move if S/R agrees. From there, it's various S/R levels and price action, any $5 or $10 number is worth playing. I've been short every attempt to break $230 the last hour. I caught a 400 share short at $229.92 to $228.82. Another thing that makes it so great is the small spread for such a pricey stock. Allows me to market order in and out. It's dropping now, I'll go long to protect $225, but otherwise am done. EDIT - adding that I'll long in around $225.20 to protect that, if the opportunity presents itself, and stop out $224.99 How about risk management? Are those 40k all of your money? I have, I gave TOS a dedicated 16GB and deleted the GUI file which is supposed to help for a while as well. Had no luck which I why I made the switch. I still use TD for swings but I'd love to find a way to make it work for everything, TOS is the best by far I didn't realize NIO reached 50$ lol. Wow. I remember it was at 6$ not too long ago. [removed] Yeah it sucks hey. It's like bowling though. When you start to learn proper technique, you might get a few strikes here and there but otherwise suck. Then you see some noob who just lobs the ball like an idiot and constantly beats you. It's easy to do that, but they will never ever get to the level where they are getting mostly strikes, by playing that way. If you learn how to bowl properly, you can do that. Meme stockers can get lucky for a while, but a vast majority will go broke eventually when they fomo all in to something and it gaps down 70% overnight and then they gamble the rest of the PF trying to get it back in a panic. Same. I started in late February and have had limited success. At the moment my play money is tied up in AMC and crypto, but I'll be getting started again in the next couple weeks. I've spent a ridiculous amount of time studying candlestick and indicator patterns, I also have a bit more insight from when I started. I feel just a bit more confident now but have a long long way to go. Come on over to r/thetagang we have cookies! [removed] When I start using forex I may hit you up you sound like u may know a thing or two Gaps almost always ""fill"" so if there's a gap in one direction eventually the stock will typically move to fill or close that gap You must watch volume and price movement, add to that 14dRSV and moving averages and you’ll do better. Losing money ;) Like he said losing money and from your mistakes, always stick to a strategy that works for you, master it and keep doing the same thing, if you lose money go long on a stock you believe and you make it right back by buying the dips, they usually jump back from supports give it couple of weeks or months and you’ll be right back Learn patterns. They're your best bet. With your account you start with paper trading. Then move on to small position size and then When you feel comfortable start increasing the lot size. It's a multi year deal. I paper traded for 8 months then jumped in with small lot size. I'm in my second year and have been doing pretty decent. Tradingview is really good for charting I found I day trade options with a cash account. As long as you only use settled funds you're good. And funds settle the next day. no my account is over PDT, but I was just saying you don't need 40k technically, but if you want to scalp and are in the U.S. it's a must. If you know what you're doing, try options in a cash account. Funds settle next day, and you get way more bang for your buck. Downside is bigger, but that's where a solid risk management strategy comes in. Where you can lose all your money *and still be in debt to the trading firm*, yes. Should note the 4x is for during open market hrs. You can’t end the day with holdings at 4x. You’ll be forced to close positions end of day to be down to 2x margins which you can hold onto overnight going forward. Yes if NIO moved 25% against him and he had his full buying power deployed and he didn't exit his position he would go to zero. Would be a rare occurrence but of course stopping out prevents it. You can set a hard stop at the broker level to protect against black swan events. Losing money is tough to swallow but you’ll get better at it for sure. True... Losses teach you a lot volume i feel is important it doesn't matter, even if nio has been going up the entire month, it doesn't mean long trades will work when you are day trading. What do you use as a stop loss? The past couple weeks have really flat. Do you trade daily, or avoid these types of days? I just scalp options for the first 30m-1h of the day. Getting 25-100% daily whether I’m long or short. I hope I keep getting lucky then Can you explain your use of volume? Scalping would be absolutely impossible if that were true. Yea you’re wrong that guy calculated it incorrectly read about it already Not at all. Remember a wash sale only happens after a loss. If you close a trade for a net gain accounting for the adjusted cost basis, that's not a loss, so the next buy is not a wash sale, and the 31 days is irrelevant. One thing to be aware of, if you're net positive on a ticker over the year, you aren't gonna have any significant amount of wash sales, it's mathematically impossible. Similar to OP I trade TSLA year round, I never take a 30 day break. It's no problem. No, the cost basis adjusts with each trade. Why not? I’m in taiwan and made an account with TDA and don’t pay any commissions unless it’s penny stocks. Couldn’t you do the same? Make an American account and play by their rules? Ok, thanks for the confirmation. I'm pretty much a beginner and was doing great last month on SPY exclusively. Now I'm losing every day forcing trades. Pretty bummed. damn... good luck. i need to paper trade day trading cause i dont feel like i am good at doing short term guesses if the stock will go up or down... How do you know which stocks to enter or when for these options scalping. At least the good thing is you dont need to rack up margin cause the leverage is built in. Doesnt commisions and bid ask spread kill you? my current strategy involves buying ATM debit spreads for 90 DTE or 45 DTE on tickers i feel are oversold, and then profiting on the rebound. Its slow, but i usually will get like 50% or 100% returns at the contract expiry. Stop projecting. Also fuck you for being so depressing and making assumptions. People who try to create artificial losses do, but this isn’t the case with scalping. If you create a loss with scalping it doesn’t benefit you in the slightest. I almost always miss the big 4-5% run on SQ 🤦🏻‍♂️ When i trade it , it doesn’t want to move much in my direction haha im in the U.S. we dont pay that. I’ve seen this happen multiple times. I started in January and am actually thankful most of my money was locked into long term investments at the beginning. I had to get used to losing money (read: waiting for it to rise again) and it also stopped me throwing money at bad ideas when I barely knew what I was doing. Feel much more confident now and am happy to wait for the right trade, rather than every trade! Still working my way up with very small profits though! Dude seriously I follow you guys, I’m on board but it just seems as hard as going long daytrading. It’s all Cc’s and CSP’s? and the iron condor and so much more of course check out babypips Books and a trading academy from my country (spain). Instituto ibt Still learning pal. Forex is a hard market Is a momentum strat in forex u can use it with a ""news candle"". You can enter with a ts in favor of the New or bet against it. After the New candle the market usually go back to the start of volatility before making a turnaround It really depends. If it's a bull candle gapping down, it may just run, depending on how many supports it clears, and vice versa with bear gapping up over resistance. Bull candles gapping up and bear candles gapping down trend to retest, since the people that made money from the day before are going to be cashing out, sending it in the opposite direction a bit. Yep. Saw some backtesting on this. Can't remember exact numbers, but something like over 70 percent of gaps eventually get filled. RSV? Thats it! And something really important. Write EVERYTHING on a trading journal. When u do every day for a few months and u look back u are going to see an common issue (that repeat itself) thats your target What app can you paper trade on in canada ? How do you trade options without the leverage of a margin account? How do you get into contracts? Is there a brokerage that lets you? I'm using Schwab and they won't let me option trade with my cash account. Tuition paid to the market, haha I agree but I think I will take a break from trading for now. I have been reducing my positions, soon only my SP500 will remain which I don't actively invest in anymore as I need some money in my personal finances available right now Since you scalp Do you trade like the 1minute / 5minute candles? Any indicators you use or mainly support/resistance? I don’t use a stop loss since these contracts are so volatile. I only sell for a loss if /es fails to respect support or resistance based off which side I’m trading. Since I only try trading for the morning rip, these types of days are still fine. I made 55% on 424p 6/14s today. Bought market open and scaled up a bit. Average was .56 and sold 35 minutes later at .87 What percent of your portfolio are you using each trade? I use it on /es to determine when price may reverse. It helped me time my sell perfectly on Thursday. The idea is that price shelves are created at the most agreed upon price. So I'm pretty sure that if you make these 3 trades, you can't count the loss in trade 2 as a capital loss: 1) profit $1000 2) lose $1000 3) profit $1000 Are you saying that instead of counting trade 2 as a capital loss you apply the loss of trade 2 to the cost basis of one of the other trades, thus removing one of the $1000 gains from your tax liability? Can’t open a TDA account unless I’m an American resident >Back t can you send me your plays so I can take the opposite end? j/k I use Webull. It's commission-free for options. I have already made a [post](https://www.reddit.com/r/Daytrading/comments/nxiz7e/got_back_to_scalping_weekly_options_when_the/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) in this sub and you can check out the comments section to delve deeper into my strategy. You and I both. I leverage and play for 1%. I just shorted 400 shares 229.9 down to 228.9, figuring taking 230 again was gonna be tough in this chop. I’m a credit spread man myself… going long means that you need a change to happen to make money. The beauty of credit spreads is you can be right so many more ways. Market goes sideways, great. Market goes slightly or majorly in expected direction great. Market even goes slightly against you… still fine. Any book recommendations ? Do strategies that work for stocks, essentially work for Forex (with a bit of tweaking?). I have been learning swing trading stocks the last few months and will probably stick with it, but it would be good to know that I won't face that massive learning curve if I skip over to Forex! *news I use premarket RSI to help figure out which way it’s going, but it has to be paired with premarket high, low or previous close. Just as an example, AAPL this morning (2m chart), bearish divergence early morning, came down pretty sharp. Then tried to rocket, rejected premarket high with waaaay too steep of buying momentum, dropped back to around yesterday’s close, bullish divergence, lift off. Isn’t fool proof, but most of the time it works. Nature abhors a vacuum. Relative Strength Index, look at it in several time frames to get a better feel of real momentum, it helps. I use Tradingview. Many brokers provided apps have paper trading available as well Thinkorswim is available in canada! Has a great paper/virtual trading system and awesome features I’m approved for level 2 options with Fidelity. I’d have to go margin for level 3 and higher. I can’t do most spread strategies with it, which kinda sucks because they’re great for limiting risk, but I can write covered calls and puts and buy calls and puts. I’m okay with not using margin though, the options themselves are sort of leverage compared to what I’d be able to afford if I just bought shares and I don’t want to get into trouble with margin if too many trades don’t go my way at the same time. It helps me limit my percent of total account per trade too so I don’t go yoloing on “a sure thing” or anything. And technically I could do an iron condor or something, I just have to do it all with covered calls and puts, which takes up all my money so I don’t. I’d really love to be able to write butterfly’s and get into some poor man covered calls, but my account really isn’t big enough for that yet even if I get approved for margin, so I just stick with some day trades and swing trades with my settled balance. Usually have to request level 2 option ability. Nothing good is FREE, only junk or wasted time. Don’t give up, you’ll hit a few great trades and within 2-3 years amass a fortune. i use both, 9:30 --> 10:00 am 1 minute 5 minute for the rest of the day, but usually im done by 10. 11 at the latest. you people that trade the open mystify and amaze me. I mean that in a good way. It seems like a flip of the coin where price will go at the open, but maybe I'm just too new to this What are you using for support and resistance since your going for the early rip? Overnight, day before , weekly? I’m currently comfortable using 5-8k Can you explain more? I want to learn, trading options with spy only. What indicators do you use? How do you determine a good entry and pull out? I also am starting with exactly $700, and I’d appreciate any help you can provide to turn that into 32 k like you :) No it gets adjusted into your cost basis. You’d have a net of 1000 profit and pay tax on that. Scalping literally can’t be possible if what you are saying is true. You’re going to have losses. Again like the other poster please don’t talk about things you don’t have a 100% grasp on. I’ve dealt with people who threatened to commit suicide because of not understanding wash sales and this ignorance excaberates it. I know you mean well, but people are very ignorant of the market. And yet here I am with a TDA account as a Dutch guy living in Taiwan. for fills do you just hit the mid price... for options i tend to go a few cents above mid cause sometimes its hard to fill. I suppose for you, its not a problem cause close to expiry options are very liquid... For my stuff like 90DTE, that far our sometimes its not as liquid. Woah I didn’t know they offered commission free contracts! I’m already at $2500 in 2 months with td Some questions from me: 1. Do you manage to get 1% on average per trade? 2. How many trades do you usually do per day? 3. How long have you been trading for? Can you recommend any reading/tutorials that you found particularly useful/helpful? Would love to know more Ya, what did you read? I didn't play AAPL, but that was a bullish daily gapping up, but it didn't clear much, if any resistance = some bears are still probably in. At open, you immediately get the retest (bulls from yesterday taking profits) on the 1m and I would have definitely gone long on that hammer with a stop probably 127 even, then switched to the 3m chart. From there, it continues the trend that started on 6/4 with added buying pressure because of the decent gap. That 3rd green candle on the 3m cleared some resistances and trapped all of the bears from all the way back to 5/21, so you get even more buying from those bears getting stopped out, bulls on the train, and bulls that saw what just happened. Honestly, I would have probably gotten out at that shooting star on the 3, even closing green. Anybody playing on the 1 would have definitely gotten out on that monster candle at 0958. That was a hell of a play if you were in it. I'm still kicking myself for not getting in on that TSLA gap, this morning. Easy 100% play and you just kick back for the rest of the day after 10 minutes in. RSI* Thanks for the info. I'm looking into maybe opening a fidelity account and trading on 2 platforms and maybe swing trading until I get the hang of options with paper trading to practice. I never looked into spreads and whatnot til I got an upgrade for margin options, so ignore me if I’m an idiot, but if you can write and buy calls and puts, could you not buy/sell each leg separately or do they not let you define max loss with other options? good luck to you too He asked for % of your Portfolio. But that would be 25% if i guess right. Did you discover your strategy by yourself? Well that still sucks that you'd have to pay taxes on $2000 gain when you're really only ahead by $1000 in this example. Edit: hotboxing fixed his/her typo, so this comment is irrelevant now. That's why I'm asking questions. How else can I come to understand it? the Canadian government actually blocks active attempts at opening US brokerage accounts. The options I trade are fairly liquid per se. I always use limit order — often quite below the bid while BTO . . . based on price actions. Yeah, I find Webull really convenient. As an options scalper, it saves a lot of money on my part. People often stereotype these free brokerages about shitty fills, but I have used Tastyworks (which they portray as the best brokerage for options trading) for about 6 months besides my Webull and many times I have found that Tastyworks' fills are shittier. Spend a bunch of time on YouTube. SMB Capital, Tasty Trade, Option Alpha, Options Play (Tony) I use price action strats. So for me: . Volman analysis of the 5 min chart . Wyckoff methodology (is also usefull on 30-4h charts) . And my academy texts Hell of an analysis right there. I wasn’t in it the way I typically would have been, but picked a hell of a day to live trade a new spread I’ve been back testing. Got in pretty soon after open, as close as possible to $127 to catch the midline between breakevens at $131 and $123. What a day to test out a spread. Lol Yeah I really like their active trader pro desktop app, but their phone software isn’t that great. Yeah, I can. It’s just that I have to write the legs that I sell as cash covered/stock covered, whereas with margin you can have positions in other things with that money as collateral, making its own money instead of all tied up in one position. And I can’t use a deep in the money leap as collateral in a poor mans covered call. I admit I’ve made lots of money ‘normal’ trading but I think daytrading could be worth the effort and better in some ways. No sorry that's my fault, its actually taxed on your net which is 1000. trust me wash sales are NOTHING to worry about. it's meant for people like this. Let's say you are down 3000 on a stock, so you sell for a 3000 dollar loss claim the 3000 dollar loss then buy back in immediately, you basically just weasled yourself out of your terrible investment That’s interesting. Nice play. I didn't even see it happen because I haven't looked at AAPL in weeks. I believe in 2 things : ETFs which will grow over time and chart analysis of individual stocks Ok sounds good. Thanks for clarifying. This whole time I thought day traders were unfairly prevented from focusing on one stock because of this, but now I see how the cost basis still allows regular trading of a single asset, while preventing long-term holders from capitalizing on a dip by selling and rebuying and treating it as a loss without actually losing anything. It also sounds like the $800k tax bill that guy had was only because he wasn't rolling his losses into his cost basis like he could have. Do you agree? I typically don’t because it’s screwed me over more times than any other security. I find it so hard to day trade. On a real note I screwed myself. Gonna continue to blame AAPL, though. Feels right. the 800k tax bill was actually someone miscalculating what he owes. He he had a lot of wash sales, but didn't realize they still counted, so he subtracted his wash sales which is incorrect because they fit into the cost basis. The article is basically bullshit . OK, now everything makes sense! Thank you again for taking the time to explain this. That crappy article should be deleted! its forbes, you shouldn't expect very much from them anymore..." February was amazing to me! It took me 9 months of immeasurable pain but I am finally becoming profitable.,1642,https://i.redd.it/ljosd85l86u81.png,"I don't want to make this a post where I just flex my P/L and you guys get nothing so here is some of what I do 1. My indicators are only VWAP and Yesterdays Closing price 2. Stocks that can't break yesterdays close get shorted 3. I'm a scalper so I'm in the trade 2000 shares for maybe 30-40 cents then bounce. I do this quite often hence my number of trades you see up there. 4. I short gap downs when they recover, and take gap ups long when they pull back. 5. Risk is always 1:1 with 90% take profit at goal 10% ride and stop loss is moved up to entry on the remaining. 6. I always keep a spy chart up, and only trade Mid/Large caps NO PENNY STOCKS. (I don't want some discord influencing my setups) 7. Confidence, I believe in all my plays if they don't work out I chalk it up to the game, stop losses are always pre-determined, and technical AKA vwap or yesterdays close, a whole number, or the 50 cent mark etc. 8. My broker is TOS commissions aren't bad maybe a few cents? 9. After staring at charts all day for many months every morning, you will develop a sense of intuition, I honestly can't explain it. 10. I Only trade 9:30 --> 11 EST after that I log off. 11. TOS gives you 4x leverage on day trading, this account has 50k in it that I withdraw weekly gains from and keep it at 50k. 12. SHARES ONLY! Options are too damn hard for me, and this game is not something you want to make harder on yourself. last thing I want to say is you need to look at multiple things before entering a trade is there liquidity? what is the spy direction? what is the volume? is this a gap? below or above vwap? uptrending or downtrending? good volume? what is the atr? key levels? Does it look good on other timeframes or just yours? ALL OF these need to be looked at and used together to paint a picture of where you think the stock is heading. Wow, dude some of your red days are barely even 1/3 of your green days, that is quite amazing. Fuck yea. You are averaging about $1500 a day. Most people would love to make that in a week!!!! Can I be your friend Good job! What stocks are you screening for? How did you do in March? This is awesome man! Are you using a specific calendar app for the daily P/L in the month? Also how do you use only VWAP as your Indicator? What do you look for? I use EMA and MACD, and have been fairly successful with it. Just the right dose of motivation needed. Keep up the great work buddy! Nice. I'm more interested in that 9 months of ""immeasurable pain"". * What did you do exactly that resulted in the improvement of your strategy? * Did it just improve gradually as you kept trying and trying? * Were there any practices, exercises or activities that were particularly useful? * Were there any moments where you felt hopeless? How did you overcome those? Capital used towards trades? How do you find stocks to trade? what platform do you use to keep track of your performance? If this keeps going then you are a very gifted trader. 2k avg a day on a 50k account is insanely good.. What time frame do you use to trade? 2 m, 5m, 15m? Man, I will quit my job and come work for you. Lol. But seriously, I would love to learn from you, teach me the ways. Thanks for sharing and inspiring — cheers to continuing the gains!! What calendar software are you using. Is that just excel or specific broker software? Nice congrats Saved! Thank you, and great work! Very impressive Congratulations, mate! Keep on growing and you'll be unstoppable. :) 🤟 Are you essentially trading the same stocks everyday? If you are, mind letting me know what they are to get a sense what you're looking for in a stock? Understandable if you don't want to. Or are you searching for a new stock to trade everyday? Also, congratz. Good job man! Finally, someone who shows people that this is possible. So sick of the constant negativity of this subreddit. Keep going strong!! May even more wealth come your way. What was your principal to start? Congratulations. It’s always great to see someone become successful. What atr are you scanning for when looking for stocks? Thanks This looks solid. Welcome to the club. Congratulations! How did you start your journey? Any recommendations for a newbie? Thanks Awesome post dude. Your risk management is great, which is the key to trading. Is there a youtuber that makes videos using this strategy? Would love to see this in action. Do you trade with your entire 50k each day? Isn’t tos free 0 commission? Since you scalp, what time frame (s) do you trade on? In other words, the period of your candles man that’s amazing, keep it going, can’t wait to see you progress! Do you trade the same stocks or do you build a new watch list with different mid and large cap everyday before the Market opens. Do you only look for longs when SPY is up and shorts when SPY is down? What do you do when SPY is range bound? Sit on your hands? Best post I’ve seen ina while , dude doing good , and just helping out sharing sum info , thank you man! Congrats great results so far. Could you give some recent examples of tickers with entry time/price you've trade that demonstrates a typical trade you take? this post gives me inspiration! keep up the good work Pure alpha. I love it What application are you using in the post to track your P/L, i would like to download it. Thanks! You take 200k position size? If you don’t mind me asking. What were you up to in your losses(or market tuition if you will) before you started to turn things around and find your edge? Its especially interesting to me that you emphasize no penny stocks . May I ask how you find your mid-large cap stocks to trade? For an example with penny stocks, we use momentum scanners/HOD scanners. But tbh I feel like I may do better with mid-large cap, as I like your logic and indicator setup How did you prepare yourself to reach this level? You mentioned watching the charts for months--were you doing either paper or OnDemand trading? Or live but with tiny amounts? Any resources that you utilized that you found helpful? Thank you for sharing your results and some insight. I think those of us learning are in awe. Wth you do like 50 trades a day? Congratulations! That’s awesome and very inspiring. Really impressive in a pretty tough market! Why don’t you scalp futures ? /es, more bang for your buck Great post OP. How are you accounting for taxes? Do you put 35% of all gains in a separate account for taxes at the end of the year or have you not gotten that far yet? Thanks for sharing but damn man, almost 57 trades for in a hour and a half. That shit sounds stressful . Time 4 kiss of death 😘 Might be a question you might not want to answer but how much do you have in your account to get profits like that? Hell yeah Dude it’s April… why you posting this?? To look back on it for Old Times sake? I give you five years and you’ll be broke Looks pretty measurable to me. Excellent work! Great work! King!!!!!! Kill it out here you mofo! What candle time do you trade in? Minute with the short trade time? [deleted] Congratulations! Keep up the good work! Why not just trade spy / indices? Love this. Your losses are much less than your winnings. Cutting losers early is the nuts when it comes to trading. Well done. congrats Is this nine months since you began? Good stuff! How many trades do you have on at a time? Just one, given your 2k share trade size? Dank trader 💸💸💸 Good job buddy :) 1. What stocks do you typically go after? 2. Do you watch futures before market open? 3. How did you learn? Any recommended sources? Nice! How much capital did you start investing with? Gains doesn't tell us much unless you tell us how much you are risking per trade. In regards to strategy #2, when are you determining that a stock can’t break yesterday’s close? Do you mean on a gap down or after an hour of trading? Nice, congratulations. How do you screen your stocks / what stocks are you trading ? How would you describe your trading journey? It is an “overnight success” in a way? Or a slow curb that is rising. can you send January photo? And GL man What was the turning point for you? sorry to bother, what program is this? Could you post a few charts of some of your trades? So what percentage goes to taxes The calendar is for Feb. What about March and April? My first thought about your strategy is that you could code this into an algo and let the computer make your trades so you don't have to be glued to your screen. Do you use ATR as a stop? That's amazing. You are goals my friend. What books/tutorials did you use to get you to this point. I don’t get it. How do you trade so much and not go over your daily allowed daytrading power? How do you find which stocks to trade that day? Do you screen? Do you trade the same ones? Ugh please tell me your ways! I got sucked into scalping options and while I have some good days, some days are horrendous. I’m better with stocks but I can’t find them consistently and I only have 50k daytrading power so large caps don’t allow me frequency It seems that people who get the fast scalping down can get very consistent in their profits. What was your biggest challenge in this journey? I'm 2 years in and not profitable. Thats great! Wish you more success. Im still papertrading. Can you explain gap-up and gap-down? I know the idea behind it but how do you if the price will continuing going in the right direction? Thanks. Do you read tape or level 2 for your entries? If you are trading that many times a day how much profit are you truly making after gains tax on each individual trade Man u are Good af congrats Why post Feb in the middle of April? Did March not go so well? Edit: found your reply. Way to go OP. Ballin and your strategy is working well Haha hell yeah!! Atta boy, congrats! Also thanks for sharing your method!!!♡ Is that an excel calendar? I see others with a similar chart so wondering where it comes from I have used a niche app before that can import data through plaid and automatically generate a date chart of profit and loss Would love to see some screenshots with examples of your entries/exits with such a high trade Vol! how much bankroll you start with? Can u share what u are trading thank You only started 9 months ago? also seems like you need a lot of hotkeys and maybe a separate dedicated keyboard like Streamdeck to get in and out faster (there was just a thread about how this isn't easy with ToS Fantastic work man, god bless i hope you stay on this profitable journey. But we also don't learn to hope in this game. Wholesome Phenomenal 👏🏻 . Thanks for sharing. When did you start learning to trade and how long have you been trading for? such. big rule always keep track of the spy! Do you trade with the direction of spy? What is its correlation to the trades your taking? Nice dude. Thats my goal! Congratulations What app is this ...or this is your own Calendar I'm telling you this is why they have a PDT rule, so they can keep people with less than 25k discouraged from trading this type of strategy, this is the strategy I use but I only have 2k In my account and it's taking me months to get a couple of percent increases but if I had enough to make unlimited trades my PL would look just like this, it pisses me off How are you making 52 trades in a 90 minute interval??? Are you doing this full-time, or are you working a regular job as well? Cool can you tell at what moment you decide to enter into trades and how long do you hold it?? Hey mate, Been backtesting something similar. I'm entering on volume candles that show we are going above or below vwap and then put my stop in a sensible place nice and close. Very short trades. I'm only entering trades right after the yday close, basically on the first candle that shows volume away from it in either direction. Sometimes price returns to yday close in middle of the day or afternoon, and I'm wondering if you would take another trade then based off reaction to yday close again? Like if we are below yday close, come back to it with low volume (retracement) and then move away with an engulfing candle and volume, would you short again? Best Ryan So you closed 57 trades from 9:30 - 11:00 ? Where’s March? LOL What is your criteria to enter a trade in a minute candle ? With how much money you trade? hey man, thanks for sharing your strategy. It's always interesting to hear how folk make their money. How long have you been trading for? And any particular book that really stands out for you? I've been reading loads and have a decent understanding of the market, just struggling to trade because of the timing clashing with teaching school, though I am looking towards the american market because that doesn't start til 2:30pm here, which is handier. Do you know what % change is that ""30-40 cents then bounce""? Just so I can visualize how long moves you play. Very nice! Thank you for sharing this + some of your methodology. This will help me & others here greatly. Best of luck! How do you deal with stocks that hover in and out of yesterday's close throughout the morning? What did your pain look like before you become this profitable? And how long did it take you to where your at now? This is matching to the fundamentals that I'm reading in a book.. thanks! Your post here confirms I'm reading right material and I'm now hopeful. I'm practicing a strategy based on vwap, rsi & previous close in tos paper I make during open hour and then lose everything during intraday.. intraday trading seems the culprit. Wait. Are we the same? Your gains and strat are far more impressive, but I trade very similarly to you and I have also been hitting my stride this last month, bahaha. Biggest difference is I do play with options and I make less than 5 trades a day but with a heavy hand of my capital. But I get burned a little more for it, so ymmv. Anyway, great to see another scalper taking some $$$ from the market. Best of luck closing out April! [deleted] Nice work man, it’s tough to consistently have smaller red days than green days unless you’re taking the amount of trades you are. A few questions if you don’t mind: 1.) Some of your days have 50+ trades. How many different stocks do you typically trade per day? 2.) Do you like to throw entries out at support/resistance or are you waiting for a turn and playing the momentum? 3.) What’s your average trade duration? Cheers! Congratulations! And thank you for sharing. Thanks, great post and that's a solid strategy. In books like Alex Elder's and Tensile Trading they talk about developing a 6 day/week system, intensive prep time and post analysis but without burning out also ---------- hoping someday to have my own post: consistently profitable, relatively simple strategy and what my screens look like (right now they're a mess) I needed this. I'm currently holding on to a CE that's been degrading everyday. It's currently valued at 1.50, bought it at 15.50. Lot size of 6750! Also congratulations and great going. I'm gonna save this comment. Could you explain what a gap is? I'm new to trading. Do you have an example of one of your plays, like a chart and arrows to entry and exit and the reason why? This is an interesting way to trade to me. Congrats on the fantastic month! How do you short with tos? Most of the stock are htb. great! Thank you very much and great work! Thank you OP for the description. What I don't understand is number 4. Do you mean that you short gap downs AFTER they have recovered and take gap ups long AFTER they have pulled back? Other wise it doesn’t make sense to me. What's your percentage profit target per day Congrats. This is so substantially different from my strat that I'm always amazed at how many ways there are to make money. Got any good YT channels or books you can recommend? I don't even touch mid/large caps and wouldn't know the first thing about successfully scalping them. This post helps though! i cut losses early it's the only way to survive as a scalper. I try to let winners run as much as I can, but it's something I need to improve on. I would love to make that in a month lmao No hes mine gap downs gap ups https://imgur.com/a/iJNNTAl Not as good and even a red week but still Overall +15k green for march. things that can't break VWAP get shorted, big guys try to unload at vwap all the time, if it can't break it the sell is too strong and I take it short. I also take it short if it breaks vwap but on low volume. This is the real question lol tradervue 1 and 5 mostly 15 min is checked aswell, and daily. Is your name Donnie tradervue it says that, but I paid about 770 in comissions so far on the year. Not sure, but it's negligible given my volume. -35k. this number is going to vary person to person by a lot... means nothing In 1.5 hours posted march I hope you figure out what's troubling you He said 1, 2, 15. OP trades mid to large caps and uses Think or Swim (TOS) scanner. There’s other scanners available that do the same thing if you don’t use TOS. Tradervue He trades on margin, that cash settles instantly. His account is over 25k he has no limit answered up there. for a 70 dollar stock thats like .4% he probably doesn't trade them What book are you reading if I may ask? Cheers! How to day trade for living -- Andrew Aziz What book is that? Do you mind sharing what book are you reading? When i say good volume. For myself i'd say around average volume to better. So relative volume to the past. But i cant talk for this guy. Also interested, following Stock making a significant move, up or down. He trades mid/large caps. Pretty much every large-cap stock is easy to borrow. Mid-cap, less so. How do you determine if a winner should be allowed to run, and how do you determine when to close those trades? If that is so... you probably are at the wrong place though and dream too much about becoming rich. Its better to have a job first build up cash. In the meantime papertrade untill succesfull then slowly go from papertrade to cash. But ye i get it. U wanna be rich now.... not tomorrow. What job is earning you under 12 grand a year? How do you screen them? that's still pretty damn good. Teach me sensei After a red week do you deposit to get you back to $50k starting or do you start at a deficit? Can you link your statistics through https://kinfo.com ? Tradervue can be easily edited. Honestly I want to learn!! Ah that makes sense! And if it does break VWAP, we long it with the notion that the big guys will buy more? answered up there it's 50k, and I withdraw my weekly gains from it to put in the IRA or buy stupid stuff. thanks Thanks! Maybe it’s on the borrowed amount Idk I switched to tos just last week Do you mean the sec fee for sales? Thank you. I’m personally down 18k for the year and having a rough time. I do not want to give up but I don’t want to blow an account up either. Would you ever consider mentoring? Feel free to DM privately. Thanks! What kinda clicked for you before you turned the corner? Thanks You are a good person and you made me better today. I am sorry to everyone. Thanks. What I’m trying to understand is what filters (price, atr, etc) Instantly? Mine takes 24 hours to settle I meant daily available daytrading power, not frequency of trades. Thanks! How do you define significant? What percentage? That's the hardest part of being a scalper... my motto is base hits win games, swinging for the fence strikes out. One idea is to sell 90% at some desired price, then let 10% run itself with a higher stop loss. Thats typically the style i use. I do not dream of being rich. I could care less honestly. It would be nice, but I will survive without being rich. My trading account has $500, and I have never put any more money in it. Yes, I do wish I made more then minimum wage, but I shoulda thought about that when I didn’t go to college. 1500 a month is 18k for a year… I work for minimum wage. tos has gap scanner built in. Kind of pointless, OP is not selling anything, they're just sharing their success. I believe them because I have had similar success as OP recently. I trade similarly, except with $500K BP. I've lurked here since last August trying to absorb everything. There is no one book, or Discord, or anything that will teach you to be successful. You've got to put everything together yourself. Really, how can you edit in tradervue? yeah. as much as i don't want to believe, i would agree... nowadays it's just too easy to fake shit. too many con-artist fucks want to entice novice traders with numbers that often have no verification. broker statements with the *link visible and refreshed* or i'm not buying this lol if it breaks vwap with substantial volume then yes it's good for a long assuming the trend is up, and the stock is strong on the day. Ah, fair enough. I respect the shit out of you for pulling that ~30k. I just took my cash out in Feb. Had to take some time off for personal reasons, but seriously dude. I respect *THE SHIT* out of you for that. Keep it going, my guy! You can do it! Why don't you scale up assuming you've been consistent and there is enough liquidity and little slippage to support your trades? With large/mid caps I am sure you can size up significantly They do Charge. It's just not really noticeable till you start buying larger $ positions. Options always has a commission as well as OTC penny stocks. Meir Barak on youtube can teach you a lot more than i ever can. Watch how he trades, that's my go to person. Damn 18k I’m over here worried about my -128.20 loss on a usoil trade 🦧 Do you trade shares or options? Oh I see. Maybe he is in a country that has no limit like me. I’m in Canada and can trade over and over with the same cash When you have last days close and stock rips or drops it creates a gap. It could be large or small. I like that. Yeah, for some reason I assumed that meant you made less than a grand a month when writing that…guess I like round numbers. Sounds like you’re working in Idaho. What strategies are you trading specifically? How do I use that? There’s a plethora of fake posts and people selling courses in this business. OP could easily be selling something to people who DM him for help and we would have no idea. The mods should make it a requirement to post kinfo along with any journey pics like these. I don’t want people getting scammed that’s all. You can link paper trading accounts, you can also edit any trade because there is a built in edit button that allows you to change the price you bought and sold at as well as the time. You can also import spreadsheets that you made yourself with bogus trade data and it accepts them as real. Also it looks like OP has lied about profiting before if you check post history. https://reddit.com/r/wallstreetbets/comments/rc38do/_/hnsuea6/?context=1 Very nice! I'll give it a try. Also what calendar app are you using for P/L if any? That’s kind of lame what videos would you suggest to start with Meir Barak? He has a ton of videos 😂everyone has different sized pocket books so for some it does look bad for others it’s bleh Both, but they both take 24 hours Actaully I kinda realize I do make more then a grand 1500 lmao. Idk why I thought I didn’t I got a tutorial from a friendly tos education session. Why are people downvoting a genuine question lol lol... since no one bothered to answer, TOS is short for thinkorswim. it's a trading platform by TD Ameritrade that's free to sign up. has great charting and an okay/meh scanner edit: seems like you're just starting out so try [finviz.com](https://finviz.com) too. it's a great free scanner Fair point. Then they should stop the guy posting trade reviews every week who is selling paid Discord access. What OP said is totally plausible because I've experienced it. Trading is not rocket science. It's just about emotional control. And no one PM me, I won't respond. Thank you tradervue Well you should be happy you weren't trading pre 2012. Those costs would have blown your mind. One day man , one day . 🥰 Interesting. I'm in the EU so these things work differently here. I was always under the impression that your buying power is always available on a margin account in the US. Redditors get annoyed at questions when they believe it's too hand-holdy. Thanks! One last question... You seem to have pretty good risk management judging by how little your losses are compared to your winners. Do you use Stop Losses? If so, what percentage is it? yep everyone’s a pretentious fuck who valued intelligence over curiosity" Day Trading for a Living,1613,https://www.reddit.com/r/Daytrading/comments/ntsdd5/day_trading_for_a_living/,"Commenting to read later, but I have questions: 1) how much money should be available in an account that will allow enough return to live on? I know this has so many variables, but throw a number out there 2) is 25k a must to day trade? 3) if you had to pinpoint a time, when in your career do you felt was your ""break out"", or in other words, what was the scenerio that you realized ""I'm now able to officially do this as a career""? I understand how these questions are very broad, but believe me that general answers will help fill in blanks that I'm missing I enjoyed reading this, been day trading certain currency pairs for the past few months with pretty good success and progressing well I think, my next goal is to be able to make £50-100 per day by increasing my LOT sizes and after that in time £200-400 a day, once I can consistently keep that up for a while and I’ll be looking too retire from construction hopefully So you said that many people you’ve met here you now trade with daily, do you mean they are in the market and so you’re all trading together in that sense or that you have a discord channel (or something similar) in which you chat while trading? As someone starting I have made a few predictions and as such want to discuss it so I can learn and see how I can improve my process, but generally posts here get lost to the void. I don’t care about upvotes or downvotes, I want a discussion. I’ve been looking for a community I could chat with during and out of market hours. Knowing something like that exists would be really cool in my opinion. Great post, thank you for sharing! I have been actively trading but have not had the time or ability to focus enough on Day Trading to feel that I could make a profit by trying it. Now I’m going to have to check out your profile and follow you so that I can learn more about it. You‘re really the wise man who gives everyone great advice in this sub, appreciate it! I‘m currently not really in a position in which i could take up daytrading bit i really enjoy reading your posts. You‘re appreciated! Thanks for writing this. Finding the gems in a sea of dirt is a challenge in itself. But it's a necessary filter to develop as a beginning trading. Although I'm 40yo I feel like a little impatient kid, trying to make this work even though I just have eight months of live trading under my belt (before that seven months of paper trading). It's interesting how incredibly difficult this endeavor. Never have I felt this amount of frustration at certain points. Also never have I gotten up after getting beaten down this often. Curious what things will look like in a few years. I, like a fair amount of people, got interested in the whole day trading thing over the GMC debacle. It took awhile for me to understand the basics, and even then i know I'm out of my depth. Ever since I've been following a number of subreddits looking for good advice and information, and I've found quite a few useful people and resources that I've saved (Your write up on the SPY and each stocks relative strength to it was enlightening). Personally i think all the people here that came here from meme stocks and want to know more should take a look through Investopedia and Finviz, and then try back testing the advice that's given on this sub. Investopedia has a free simulator that they can use, and it's one of the easier ones to use. I've gained a lot of knowledge about the subject but every month i find something that breaks my understanding of the market (Currently marveling at Bull Put Spreads). Too many people compare day trading to gambling, when even professional gamblers (odd people they are, but they exist) use analysis and statistics to win, not all the time, but the majority of the time. From what i can tell, a portion of day trading is the analysis, another is keeping a cool head, and the final bit is experience. And i for one thank you and the other traders on this sub that i follow for your insights, from it I've learned i prefer early day momentum trading, that i need to build a trading style that works with my temperament and technical skills, and that I've got a long way to go before I'm ready to do day trading as anything but a hobby. My favorite part of this post, something that I struggle constantly with as a new trader is not looking at P&L while in a trade. Using the price action to determine exits instead. This might just be the gem I’ve been needing. >What results is a tremendous amount of cynicism - the notion that Day Trading is anything but pure luck is scoffed at, any success is met with demands of proof, and every piece of advice is criticized for some reason or another. This is just how Reddit is, I have noticed this kind of attitude in every sub. I can see why successful traders would avoid this place. Thank you for the write-up. I’ve been learning about the markets since the dotcom bubble. I’ve read a lot on the subject and for years told myself that I would trade someday. Well, I recently started and what I find so human about it and myself was not being able to cut losses at first. I knew I was right and would hold positions too long much to the detriment of my account. I’ve learned the hard way - even though I’ve read it a million times - to take profits. Once I quit trying to knock it out of the park every trade - and getting all emotional about it - and cut my losses early I’ve been much more profitable. I try not to beat myself up too much if I get out too early. There’s always the next trade. This is an incredible write up. Thanks for taking the time. As someone who just quit his day job to pursue a career in day trading, what's the one thing - or top important things - you wish you knew before you took trading on as a full time career or at the start of it? I have $50k available to trade and want to supplement my existing income to improve my family’s life. I’ve been “buy and hold” for 20 years with “meh” returns. I’m ready to try something different. Open to any and all suggestions of consistently profitable strategies. I don’t want a McLaren, but I want to stop worrying about spending $50 at Applebee’s. Beautiful post. Thank you! Interesting read, thank you for this post! Will definitely look into your other posts. I loved reading this! Im currently taking the time to learn forex trading, and its always super refreshing to know that there are real people out there who see trading the same way I do. There is so much garbage out there that focuses on just the money or some shallow stategy that doesnt go in depth. I believe there is much more psychology involved. You need to learn about price action. You need to learn about important support and resistance zones. Just from practice, ive been able to accurately place total profit levels exactly where the price ends up, and im having so much fun doing research and what so many others think is ""boring"". The toughest part of my journey by far, is finding people who actually enjoy the deep side of trading. Everyone i know doesnt care to learn, but i get excited when i see certain patterns forming and what i see during the different sessions, but i have nobody i can get excited with. Sorry for the long comment but reading your post made me happy and it reminded me that im not alone :) Cheers ✌ Agree 100%. I'm on the west coast as well but am used to the early hours. I’m not a trader although I’ve been digging recently. I am a value investor though. However it seems to me if a lawyer came into a law sub and wished to discuss his successes he would indeed reveal the in and outs fo his various cases explaining the legal requirements and the court decision. So actually it’s odd so many traders come to the sub, talk about their apparent success but then won’t simply provide the details for analysis... I don’t really mind to be honest - it’s an individuals private data there’s no requirement to share - but I find the persistent “I know how to do this, I’m here to discuss it, but do not ask for data!” Is a bit strange. Why come here and say that and then not provide the data that would both confirm the claim and provide data for analysis and education? I mean it’s a job right? So what’s the problem with opening the records if the goal is to educate? If the goal isn’t to educate that’s fine - but then there’s no need for the claims of success is there? As the saying goes claims require evidence and extraordinary claims require extraordinary evidence ... [removed] Thank you OP. Your suggestion on starting with a 5k margin account and working the 3/wk daytrades to build up to a PDT account resonated with me. I appreciate it! I'm a total newbie... an older guy with a job I enjoy... and one that allows me to work from home and have the freedom to learn the ropes here when I have down time during my regular day. I could twiddle my thumbs or learn a new venture, so why waste my time? I'm about to be an empty nester (finally, after 30 yrs of parenting), and I'm secure enough to get started... and my goal is to learn enough to be able to Day Trade in retirement 8-10 yrs down the road, as I feel like it (when conditions don't favor off-shore fishing, more accurately). Your post is well received toward that end. Thank you again. Bravo. Very well written. The ""trolls"" won and I have stopped posting to Reddit for the reasons you stated. Perhaps I will try again in the future. Thank you for a beautiful insightful post! Extremely well put.. thanks for this and your time What kind of “price action” would tell a trader to get out even if they’re making profits from the trade? Well written post, thankyou. Really helpful as im working for liquid to start daytrading soon i'll check out your other posts too. It is very complex process. I guess people should understand that, you have to find what is best working. As OP mentioned, people may think day trading means you have to close your trade same day, I know people who are using this method, I know one of my friends who is making living off of 25-30K. But if he looses or wins he never keep a stock after 4:30. I know another guy who has different approach, or strategy. He is careful with the stocks he chooses. He makes sure it is option-able. Meaning before entering trade he makes sure, the stock is mature enough to have option chains. He doesn’t care if the stock is not performing or make money he can roll his trade to swing, selling it next day or days. Example if you trade Ford or GM or Apple, it doesn’t matter how low the stock by the end of the day. He waits for tomorrow, because of big swings change the price back above the trade he enters. Even if it doesn’t make any money by Friday, he writes an option (weekly or monthly). Here is the challenge, you should be seasoned and believe the price is not something that is permanent and stocks have their cycles. I totally agree, this is kind of big skill that you learn may be in 3-5 years after you loose money and keep learning, from your mistake. I guess it is like getting muscle memory and you keep learning how to manage your trade if it is not making money same day. One thing is for sure, it will come a time you will not be surprised or scared if your stock drops $1-$3 in one day and you will not panic-sell it because you don’t make money same day. All the charts and indicators just are based on past performance and it can change in one second. Someone I know never does a trade on Monday, it works for him, some never do on Fridays, but some do only Friday and Thursday. They have all developed their own strategy, form experience and know what work for them. There is no wrong or right way of doing day trading, it is just individual strategy preference, that develops overtime and people find overtime what works or what doesn’t for them. Bur be aware , usually any mistake may cost you immediately $200-5K at least. One thing I assure any trade strategy, will not be very successful if you don’t know how option world works, even if you are day-trader, you should at least be aware of different strategies in options or at least can read the call and put columns You can get a lot of information in your day trading if you can analyze options and help you be better day-trader, even if you don’t like trading options and hate them. >But mainly you should realize that there is an entire world out there of Day Traders. From what I can tell the average successful Day Trader took 2 to 3 years to get to the point where they can confidently make a living doing it. Trading is like any other career. Nobody picks up a football for the first time, throws it for a few days, and then suddenly tries out for the NFL - on top of that, betting thousands of dollars that they are going to make the cut! What people aren't realizing is that they are seeing the END RESULT, not the blood, sweat, and tears of what it took to actually get there! The sad part of this is that most people have unrealistic expectations and will project their failures on those who are successful. Once again, you make some solid posts here and it's greatly appreciated! Keep up the great work! Well said...thank you for taking the time to post this! Wishing you continued success as well! Good post. I do have one question which you may be able to answer. How is wealth generated for Day Traders? I mean where does the money really come from? I know Day Traders profit from short-term fluctuations in prices in the markets but the money must be tied to some form of value, in my understanding. Is it that Day Traders are cleverly siphoning money (and value) from the markets by taking advantage of the way prices move in short increments? It can't be that money is simply created out of nothing, there has to be some kind of value associated with the ability to make money doing this, in my view. Do u have any groups of traders or subreddits you find particularly usedul Hey there Hari, great post! See you around in the chat ~Mike A This is the content I'm looking for. Thank you. Oh ok just double my money right got it thanks Thank you! I have been wanting to get into Day Trading for years now, and you definitely provided me a perspective and understanding I hadn’t heard before. I look forward to reading through your other posts. This post means more to me than you realize, thank you. 🙏🏼 Thank you very much for sharing your insight! Thank you I don't have anyone to bounce ideas off or learn from, but I've fallen in love with trading. I often message a couple of friends who make speculative ""investments"", but neither is really that interested in seeing my charts or hearing about what I'm planning that day. Would love to hear how you met your trading friends/groups? I've been thinking of jumping on one of those courses like Humbled Trader just so I can learn from people and hopefully meet like-minded individuals. Thanks for the post man. I live on the West coast too and pretty much have the same schedule as you. I just started this year and am always looking to learn more every day and improve. What helped me out a lot was starting to review my trades. The first couple of months I wasn’t doing that. Then I did. And last month was way better. I also removed the P&L display and it has helped. I am glad to say that the past month I only had 3 red days, and this month I have 0 so far! I am currently working on increasing my confidence to pull the trigger on levels that I mark off. There have been times where the price reaches that level and it is spot on to the penny! Reading the tape has also helped me more. I looked back at the last 3 months this weekend, and was impressed with the amount of work I’ve been putting in, and my results show that. All the trade reviews documented, and notes taken. Thanks again. Get green and stay green! Cheers Man. Sorting by controversial really opened my eyes. Most of you are so ignorant and self absorbed. Why is it so hard for you to accept that there are people that have found success with this? Why do you go on this sub then? Truly makes me sad to see such ignorance. Hope you find peace. There's thousands of people that post on this forum. Statistically only 1-5% of them will succeed long term. You would think that a long term profitable trader would understand this and anticipate that traders would require more than just their word to prove that a particular strategy generates alpha. Without performance information it is impossible to analyze and determine if the strategy is appropriate for them. It is impossible to determine how consistent the strategy is. You don't know if it's some noob that just started this year or someone that has been trading for decades. So without performance information is just more noise. Again you would think an experienced trader would anticipate this. The expectation that someone will believe you because it ""makes sense"" is the sort of crap the scammers trying to sell stuff say. Even the new crop of pandemic traders have been through that cycle before. That's why you'll always get pushback. Good traders aren't just going to believe you, and it's extremely hard to believe that a truly good trader would be as naive to think otherwise. WiFi Money can’t beat it one of the simplest entrepreneur business models that’s becoming more and more popular everyday every year the past decade or 5 years tap in…Demand and desire is high for that type of entrepreneurship right off of your laptop or phone type life. For my second comment, I’d like to say DO NOT ABANDON A GOOD CAREER TO DAY TRADE. Now I understand why you seem to be so concerned with the attitudes of others. I guess as a sociology professor that’s a filter you can’t remove, or maybe refuse to remove, from your view of the world. I tried a bit into daytrading and found that adraneline level gets higher which is not good for me. I enjoy trading but still like to smell the roses. By analyzing stocks and taking a short-mid term view, my returns are much higher. I'm not saying daytrading is bad just that I'm not good at it. In the process I [created a tool](https://app.sparticus.xyz) that helped me take a more systematic approach to analyzing stocks instead of going into the frenzy of TA daily. Feel free to use it. All the best! Really like the post but your first mistake is coming on Reddit to seek an intelligent community to discuss trading with. I use it for gaugeing social sentiment alone. Nothing else. Same with Stocktwits. Same with Twitter. Discord has some really good intelligent communities and some really shit ones. Just have to find the right, serious one. All the rest are 12-24 year old children doing 'dd' The easiest way to day trade your way to a million dollar portfolio is to start with 2 million dollars. TLDR Can anyone summarize? Great advice. thanks. I’m thinking of giving myself 5-10 years learning. i’m happy with just trading enough to feed the family keep the place maintained. no lambo. do you have an estimate of what about to trade with vs what salary you expect? e.g. trading 50k to make 50k a year etc. If I go to see a lawyer, I don’t care about a law degree. However, I might ask for “PROOF” they are licensed and PROOF they can win a case by asking about former clients and their outcomes. With that said, if you promote a strategy, you have to show proof that it’s consistent. And I don’t mean paper trading nor back testing. Also, someone who has a large percentage of gains does not necessarily have a proven system. I have 300% gains in 2021. And My system is anything but proven. Bruh you def got too much time on your hands to be typing this long ass post.. go research some stocks boi!!!!! Time is money baby!! Trash Day trading is a sucker’s game. It is possible to win, but every tool out there is designed to extract money from you. Swing trading is more reliable and gives you more time to enjoy life. Not to say there is never a time to daytrade, but if that‘s your bread and butter you are in for a difficult ride. It’s fine to make $$ daytrading, even a lot of money. But daytrading is not a career. Really appreciate the big post. Honestly I feel recently km ""starting to get it"". I'm realistically learning how much I don't know and need to practice on. But. I'm able to make a profit consistently now, even if it's not huge. I do have one question... How did you find your group? Currently I'm a regular on the WSBs discord. From that I've been invited and hang out in other places, but they don't seem as ""dedicated"". Very casual, air of scammy, tough getting daily plans going. Shall I stay chill and see what comes about or try be more active in here. Obviously, not asking for invite. This isn't a job (yet). And I'll probably drag it down with noobyness. I'm just curious how you found it. Thank you for answering so clearly the doubt living here: can you make a living of ... You talk about a 12h work day. Are there people who are profitable investing less time? I'm studying hard now but I finally will not be able to invest more than 4h each day. This is about 3+h preparing. 0-3 trades during opening hour. I'd be happy with an average 0,5% gain. Are there other consistent profitable people doing a similar thing? How often do you take money out of your brokerage account and put it in your bank account? Like does it make a difference with taxes how often you are transferring money I definitely was lured in by AMC stock that I bought in January. I'd like to do a few day trades with it (staying in for the squeeze though) but I admit I'm clueless. I'm not sure what to even do with my money once I'm out. Great info! Thanks op Great post, sir! I appreciate that you're willing not only to post about your Day Trading experience, but to do so in a forum that's a magnet for people telling you how you can't do what you're doing. They trade Biogen tomorrow. Try to buy at the open and then the FDA comes up with their announcement and approves or Alzheimer’s drug could go up 40% on Monday. Negative from the FDA could knock it down to 200 though Thanks for this and your other posts. They are very informative. I assume that at some point as you add concurrent trades, the signal to noise ratio would limit your ability to effectively make decisions for each trade. How many trades/symbols do you actively manage at a time? Is this even something you consider in developing your daily strategy? This was incredibly insightful. Thank you! Great post. I’m on this journey myself Thank you for taking the time to write this up. How should one go about finding a (or multiple) good strategies (setups) to trade every day? For example, I'm trading ES, RTY, and NQ (or the micro versions of them), sometimes live and sometimes on sim. The hardest part of trading for me thus far has been finding a consistently profitable system I can use to trade every day. I know some people use solely price action and volume, which is a discretionary style of trading. I'm learning this by reading Al Brook's books and watching valuable videos I find online, but I'm drawn more to mechanical trading system's with clear rules. To date, I've tried forward testing two separate strategies that I've created myself based on my research (one mean reversion and one momentum). Any advice on this and how to find reliable trading setups/strategies? To me it seems like the main thing holding me back (I am fairly new, learning for 4 months and trading for about 1 month). Started off day trading/ swing trading stocks and did better than when I’ve bought and held. Definitely went through a phase of “gambling” with OTM options and just being dumb and lost about 50% of my account. Now I’ve come back full circle to day/swing with a much better understanding of stocks plus with a good understanding of options now at my disposal and using ITM leaps for leverage for stocks I’m very confident it (I know added risk). But I really want to see how this goes the next few months coming back to it. Bringing my account back up and now only down about 25ish% but I’m becoming profitable again. I’d rather take the consistent 1-3% gain trades in a day and walk away with profit to repeat again then gambling it away lol. My brain has always worked differently and I’m wondering if that’s why day trading has come easier to me. But whatever it is, I fully support your post and felt the same recently seeing people say stuff like 97% of day traders lose money. Let’s correct that blanket statement. 100% of all traders lose money at some point, but I’d really like to see where someone got that statistic. Plus is this counting people that try it for 3-6 months and fail and walk away from the market completely? Because the same can be true for people that go longer with investing too. Anyway, good luck with your trading! I’m definitely gonna look into your post history to pick your brain haha Can you share your strategy? Really insightful post. Are there any books you’d recommend to help someone that wanted to learn a bit more about investing/daytrading Hari Seldon would have been a great trader ;-) Thank you for posting and sharing experience. Is day trading any harder during bear markets? Obviously, you can short versus long, and you can still long on oversold positions in a bear market, but it would seem like strategies would shift in a bear market when day trading. Honestly just curious. Thank you for taking the time to share your experience and knowledge. As a beginner this is quite helpful. Great advice. Commenting to follow and read up later. I've been reading up on it and started doing some investing and I think I could do this full time. I know there are many skeptics out there but they exist in the office too so it's worth it for me to try to make this work! I'll keep an eye on your posts and I appreciate any suggestions or tips you may have! Thank you for this post. I typically am one of the people throwing cynicism on traders (albeit in my head and not in a comment section... usually). I had a few questions, itd be awesome if you could help me out. 1. How did you develop your strategy(strategies of course but lets say to develop your first)/where did you start in order to develop them? 2. How do you backtest your strategies? As you mentioned, 10+ year bull run, so how in 2-3 years can you guarantee your ability to trade in all types of markets? Thanks for your time and responses! Thank you for taking the time to write this out. It gives me hope. Looking forward to reading your previous posts. We need more people like you. Thank you for your transparency and clear support for the space. Thank you for this Great advice and smartly described what’s all about Day Trading. I’m new to the trading world, started learning trading from Dec 2020(from MLM) before I knew they where (pyramid scam) decided to start training and learning on my own and from other reliable sources (individuals) I’ll like to get more knowledge from Day Trading. Happy to hear from you again. All your posts are saved by bookmark. Will be Reading all of them once im at work again (much waiting there) What accounts do you use for day trading? Like Robinhood or fidelity or Charles Schwab? Phenomenal post! Do your strategies work with crypto market also? Do you trade in crypto market? What books do you recommend to read on trading? !RemindMe 1 week I mean don't 90% of day traders lose money? I imagine people like you who do Daytrading for a living in a very small percentage. Most people don't have the 25K recommended to start with, others lose all their money and won't come back and others can't risk putting a load of money on the line with the hopes of making it as a Daytrader. I'll check out your resources though as they sound interesting. Thank you this is great advice. This community is great. ""We never look at our P&L while in a trade. Yes, we have our targets. But when we exit a trade it is based on the price action, not the P&L."" This is awesome. Exit a trade based on technicals, not based on how much you made. Thank you so much for sharing this! Ever since I told people that I aspire to be a day trader one day, I have been met with tons of cynicism. I felt suffocated with the negativity that these people generated and for a while I thought of giving up because of them. Of course I soon realised that I should not be affected too much by other people. Still, I struggle with negative comments and replies sometimes. Reading your post makes me happy and feel less alone. I appreciate your insight. I've been tracking spy this morning 6/7/21 It's 10:27 market time. SPY is in the red 0.25% roughly. Not an upturn since opening bell. I've been following my pick of stocks for the day that are relatively strong against SPY. I thought SPY would have drug them down a bit but not yet. I'm waiting for SPY to turn green a bit then look for up turn on my picks. We aren't too far off about same but at $0.99 Thank you for your comments. I would love to learn from you. Money makes people act funny.n people have all sorts of issues regarding money. Envy and jealousy are huge forces at work in the world. You’re posts are great dude, one of the main reasons this sub is still tolerable. Question for you though, how do you feel about the gap and crap strategy? Basically the opposite of the gap and go strategy that you mentioned in other posts Love that there’s good people on here looking to help out, great a must read 👍🏼 I have a similar routine. On the west coast and up at 5 am to get ready for the day and not usually done before 4pm. So it's definitely a full time job. I take breaks throughout the day, usually every hour or so.. I mainly scalp the ES so it's a bit intense and breaks help me maintain the focus needed. I get the same thing re trading... people who have failed at it think that nobody can achieve what they couldn't and most of the others think we are just gambling. It's so annoying and common I downplay what I do. What do you think would separate the $2K a week traders from the $50K a week variety? Based on my reading thus far, it would be the ability to handle big swings emotionally. In other words, it's much easier mentally to take a $200 loss than a $30,000 loss. In the former situation, many traders may begin to trade erratically. Thanks for sharing. Learned so much. Btw Do you have a tour channel? saving,.,. I am commenting to save this post Thank you OP! I just want to say Thank You. Thank you for writing your post. I've just turned 30 years old and have been trading for a couple years now. I've learned so much more these past few years than I have in my entire life. Your message is extremely motivating to me. The journey is not an easy one and yet I find myself loving every second of it. Im still learning. I hope to always be learning. Ive had many ups and downs as Im sure you have including all other traders who do this for a living. I trade alone and live with family currently. I have goals and I know I can meet them. Sometimes it can feel as if Im doing everything wrong. Although, it might just be my own demons. I will continue to fight the good fight. Thank you for posting your thoughts. I can confidently say you have helped this trader push forward. This is amazingly well written Amazing post! As a newer trader I’m having a hard time understanding a good system for taking profit to live off. For example, you need to have money in your broker account to use and to technically grow so you make more off your plays. You need money to cover your taxes and then the money to take out. I’m not sure why I’m struggling with this but I can’t seem to figure out the best way to do this that isn’t super complicated. Do you take money out every week, every month? Do you keep only a certain baseline in your broker account then pull out 30% for taxes and then 70% profit to live off each month? So many people have told me just take profit out? Well if I have a 10k broker account it’s not the easiest as a new trader to build this fast plus taxes? So would love someone who has a smaller account but lives off trading share their system? Or is it as simple as get 20k in broker, then whatever your profit is for the month pull 30% out and then 70% and then start over again at 10k? Sorry for the novel but just want to make it clear exactly why I’m struggling. I fear just taking money and then not having enough to pay Uncle Sam lol. Side note, I’m a small trader, only 10k broker and it took me a long time to build that up from a initial 5k deposit. TypicL amount I make a day ranges from 150 bucks to $350 So when taking profits out every month should you also put aside a certain amount for taxes in a specific saving account? I just ask because technically you never know how much you’ll end up making in profit at the end of the year since it’s not about the amount you traded or even the amount you took out for so called profit? So if you have a baseline of 10k for your broker account and let’s say make $10,000 above that amount would you take let’s say 70% profit and the rest put aside for taxes? What is a simple system traders use? Keep in mind, I’m not talking about how much you need to live or how much you make. Just wondering what easy system you use to live off profit, keep money in the broker account and have enough to cover taxes at the end of the year. Or do you just take your profit and leave the rest in broker account and depending on your taxes pull it out of your broker account when the CPA tells you? I just never want to be caught off guard and like simple, easy to use systems every month. Any help or insight would be awesome! New trader and so happy I found this place That's very special post. I enjoyed reading it so much! Please check your messages! I look forward to it What books do you recommend? I'm reading Andrew Aziz at the moment. I want to read all the books the sub recommends and then spend 6 months in a simulator burning the trades into my head, do you think this is a good way to learn before I begin? Commenting to read later 1 & 2 -depends how much you need to live on. I’ve seen accounts that have 50k, generate enough income to live off and at the end of each month they removed the profit and started again at 50k. Personally I think someone starting out should start with a challenge I give myself every year to stay sharp - have a 5k account - with margin - your goal is to double it using your 3 day trades every 5 days and good swing trades. Once you double it, take out 5k in profit and do it again. Once you double it the second time, leave in the 10k and now double that. When you get to 20k, take out 10k and do it again. Now your at 20k. Put in the 15k in profit you made before and bring yourself to 35k, now start day trading. 3 - I wrote in a post last week about my journey to doing this for a living. But when I realize I can consistently depend on a profitable month I knew I could do it. The moment it stopped being a roller coaster and started being consistent. [removed] Same! Go to CueBanks thank me later @cuebanks on Instagram go look him up the best in the game fr look him up if you don’t know who he is already >how much money should be available in an account that will allow enough return to live on? I know this has so many variables, but throw a number out there currently living in Tempe, AZ, when I started out with $2.5k, the profit was enough for me to make living. What trading account platform do you use, What computer program? Replying to read later Also commenting to read later on Best of luck! I'd even be happy to have a place with proven day traders that give a bit more on the info in the how and what, like their trade analysis described for the afternoon. (I've just been interested in the stock market since just before the pandemic and listened to podcasts whenever I had time, but didnt find good info on day trading so far) I checked many trading communities, as I’m sure you know or figured, there are a lot of scams out there - and finally found one (i don’t mention them because my purpose isn’t to shill for any one group or another in a public forum). We are all in the same chat room. This comment will probably get lost in the void or get downvoted or I'll probably be called scammer but I'd like to share to you a discord server that I truly believe is not a scam. I say that because they offer trade alerts from options to stocks for a monthly fee and of course education if you don't like following trade alerts and want to do it on your own. If you're interested in joining or just checking them out or just reading the testimonials which I believe is open for free members I'll DM you the link. When I discovered these discord servers I realized OP was right, there is a world of consistently profitable traders out there. They post analysis together with trade alerts so you know why they entered a trade and of course for you to learn. Up to you if you want to follow the alert. From there you manage the trade on your own. If you're ok with the profit close the trade and don't wait for the exit alert. Same goes when the trade isn't doing very well. I followed a trade alert last time and made 60% but the analyst said he has price target but I didn't wait for the exit alert. 60% was a really good profit already. I discovered these discord servers just last year and I personally think it's the best thing I've found. Now I don't have to do it on my own. I can learn and earn at the same time. Another discord server I joined last February where one of owners focused on penny stocks swing trading. I was able to turn $100 to $200 in one month just swinging pennies. I know that's not a lot of money but in my country where $1 is equal to 50 that's a lot. Well enough of the ranting. If this comment is inappropriate please delete or ban me on this sub (I hope not) or downvotes or call me stupid or scammer or whatever. Thanks. Thanks! Best of luck to you. My DM’s are always open if you need help. This is extraordinarily well put. Over the years I’ve become pretty good at knowing who is going to excel at this and who isn’t, and while I don’t know a damn thing about you, I know what you just wrote is spot on. I’d put my money on you going quite far if your level of understanding is already this advanced. I hope to one day be trading with you! Best of luck. If you haven't already - check out Mark Douglas. He's got books (I recommend Trading in the Zone), and I think he's got talks on YouTube. Really gets into the psychology of trading, and while I'm not (yet) making a living day-trading, I can't imagine someone who is that wouldn't agree with Mark's principles / philosophy. It’s really hard not to do, I know. Our brains are wired to look at how much we are down or in profit. But it’s impossible to trade correctly that way. Making that mental adjustment helped me enormously. Well done! I wish I knew how hard it was and how wrong I was to think otherwise - I wouldn’t have blown up substantial accounts if I really knew that. Check my post on how I started out. [deleted] Lol well first stop going to Applebee’s- shit good. Take a look and my other posts and I’m always available on DM for specific questions. To clarify, I spend $50 at Applebee’s because I have little kids. That’s also why my risk appetite has to be low. I know that limits returns, but it’s simply a reflection of my situation. I bought and held for nearly 20 years. My capital, particularly retirement, grew steadily. But despite the charts everyone shows you, the “compound interest” calculator did not hold true. Mutual funds gave me about an 8% annual return that took two years to “come back” after 2008. I’ll never listen to investment “experts” again. I’ve met and worked with people like Jamie Dimon. They aren’t Stephen Hawking. Same boat my friend. Daytrading volatility is the most consistent strategy I use, anywhere between 1%-15% returns per day. There are multiple ways to do it from shorting it outright to buying puts. During FUD periods of the market is where the biggest profits are made. Thanks and glad to hear it ! Of course - which is why I say look at the post history. If you read some of my posts I provide trades both before and afterwards . I agree. And enjoy your posts btw. I’m 47 and was about to be an empty nester with my 16 year old off to college in 2 years, and then I had another baby - he’s about to be 2. 16 years to go! Which is a terrible loss for the traders here looking for actionable quality advice - you’re one of the best traders I’ve ever seen. When a lot of you new traders see trolls on these boards, know that they are the reason why traders like OptionStalker no longer post here. He has decades of experience trading, and is recognized around the entire trading world as one of the best - ten minutes listening to him is worth more than any course you’ll find. But you won’t get that benefit because disgruntled posters decide to attack anyone trying to help. Thank you OptionStalker for all you do. My pleasure A reduction in volume, inability to break through minor resistance, sustained pullback, etc. Change of price direction in a meaningfull way that goes against the trade you are in. Always available on DM for specific questions Well said Thanks! You as well! The stock answer to your question is the traders create market liquidity. Liquidity, in turn, invites market makers, catalyzes creativity and products in the trading space, and lowers the barrier to entry and costs for other retail traders, etc. Tools like thinkorswim, RH (for better or worse), Acorn, and things such as commission free trades wouldn't exist without such impetus so as to create a market for them. At the end of the day the market is supply and demand. Buyers and sellers. If I’m making money on a trade someone else is losing it. I avoid those as it’s usually filled with new traders. The best groups are the ones with actual pros in it, but unfortunately whomever runs them usually has a membership fee. That’s more a barrier to weed out people that aren’t serious than anything else, but it’s worth it. A good room would pay for itself in a few days time just with the live trade suggestions. Hey Mike! Any time. My DM’s are always open for questions And you’re referring to? Any time and my DM are always open fir any questions. Happy to hear that - that’s what I wrote it, hoping it would resonate for some. Any time. Thanks! Shoot me a DM Congrats! Thank you! I am here to help people, and based on the DM’s I get and the overall response, it seems that I am accomplishing that goal. Do you really think an accomplished trader cares what you believe or not? Either take the advice or don’t. Many here trade with me now and watch me trade every day. I trade in a chat room and post my trades live. I sell nothing, and charge nothing. I am giving back to this community because it’s the right thing to do. Even though it means tolerating the constant negativity and cynicism. You really think accomplished traders are going to come here, put up with all the amateurish crap, be told to show proof, then be told that proof is photoshopped, or faked? We want to help people but not enough to put up with this constant stream of bullshit. You want to see me trade? Fine. DM - I’ll tell you where to go, come by, watch me trade for one day, and then based on just that one day you can come back here and tell everyone what you saw, good or bad. Deal? WiFi money - lol, I like that. I would hope a person has the sense to confirm that they can be a consistently profitable day trader over an extended period of time, from both the long and short side of the market, before they do that. LoL, most people may start hating their career after they get to work environments,,, especially if you are independent thinker and you know something is wrong and you can’t change it. You may think an Uber driver is better than me. I am my own boss, then despite doing everything right someone make a negative comments you stars are dropping. Same thing with your business. You just run your business some people don’t like one of your employees, then you see all negative comments on google, yelp. You think wow I am not made for this either. You see Doge millionaire or AMC millionaire or Apple millionaires, then this is when you think wow. I need to learn this. Or better way to put you crash few times with market, loose money. Then you try to learn. Persistent one day will pay off. This is market story. Yes, then you keep reading and knowing and expanding your depth of knowledge. You eventually master it. It doesn’t mean you will win 100% all trades. You try different strategies, it is entire new world. But I totally agree, you never stop your career unless all these metrics unfold. You, I guess better start with small amount and see if you can make money double and triple your 2k-5k. You may loose them all or turned them to pennies. But this is how you learn. Actually this doesn’t mean you stop it, you learn start again, with fear, hope and greed. You master it one day. For me I am confident that I can make a living off 25-30K, if I loose my all money. This is a good feeling. It means you will not be scared to be fired from your job. You don’t do what your heart is not there. But you do everything to make a living, day trading, options, Uber, all types of works, if you can make a living, that is all that matters. Fair enough, and true. Love your thought process ! Best of luck to you! I would never come here to look for that. I have a community I’ve traded with for a long time and I’m perfectly happy with my group. I’m here for one reason - to help, because I know how hard it can be. Thanks I’ll let everyone who had been making a living off this fit the past 5 years know they should stop. Whew! You saved us! I mean I’m on my 27th consecutive profitable month, but you opened my eyes! Thank you!!!! The picture these Reddit forums paint of Day Trading for a living and the reality is far apart from one another. If you scroll up I answered that very question earlier. Hope that helps. Not sure anyone claimed otherwise. But people who do this for a living are generally here to help, not to spend all day sending screen shots of their account only to then be told that it must be photoshopped. That’s why I suggested, look at their profile and post history. You can usually tell pretty quickly who is real and who is full of shit. My god you’re right! Lol - [removed] So insightful, thank you Damn and here I thought I was doing so well these past five years! And all my colleagues, I’m gonna have to break the news to them as well!! Sarcasm aside, you’re not wrong, most people come into thinking it will be easy, it’s not. Unless you really treat it like a profession that you need to work at, you’re gonna get burned - badly. [removed] You realize how that sounds to people who have been doing this as a career for many years, right? Took awhile, joined several and many were scams (if you see a ferrari in the YouTube video avoid it!) and many were fine but not worth it. Eventually I came across a few that actually added value and settled on one. [deleted] Of course - but you would be looking to momentum trade. That means you need to live and breathe the 1min and 5min candlestick patterns. There is little room for error in that area of day trading to be consistent. Can anyone catch the occasional runner that just keeps going, sure...but to have a consistent method you need to learn it inside and out. But yes, it’s entirely possible. Yes, we're here. If someone is consistent then they should be able to trade profitably at what ever level they trade at. 1% a week is a good goal for a beginner/small trader. You will of course struggle on some days finding opportunities limited to only the first hour. Work on increasing your trading skillset and your market knowledge. The more you learn the more you will see market opportunities. The more market opportunities you see then the better payouts you will find. End of each month, and no, they base it off the brokers statement. It’s definitely a journey Anytime Thank you . And yes it is frustrating, but the only reason I keep doing it is that I know it helps some people. I’d be shocked if they approve that drug Everyone is different of course - I tend to have 4-5 active day trades going at once. And 5-10 swing trades. Thanks! https://www.reddit.com/r/Daytrading/comments/ndaasa/simple_and_effective_day_trading_method_but/?utm_source=share&utm_medium=ios_app&utm_name=iossmf Not sure if this is what you’re looking for but it might help: Always open on DM for any questions or thoughts. Best of luck! I posted this recently, it might help: https://www.reddit.com/r/Daytrading/comments/ndaasa/simple_and_effective_day_trading_method_but/?utm_source=share&utm_medium=ios_app&utm_name=iossmf It’s been years since I’ve read those books, I’m sure there are more up to date one now? Ha! Yes he would have! Thanks! Harder? Yes and no. We are wired to go long, so it’s a huge psychological shift. Bear markets are also choppier which makes it difficult to swing trade, even short. They don’t last as long as bull markets either, so there’s less dependability. But there are also a lot of great opportunities. Thanks, my DM’s are always open DM me if you ever have any questions As for the second question - after five years of trading my own trade history becomes my backrest. And for a day trader, every day is a bull or bear market really. Although in a real bear market, action is choppier and it is harder to swing even from the short side. Here’s my post on getting started: https://www.reddit.com/r/Daytrading/comments/np9vaa/how_i_got_started/?utm_source=share&utm_medium=ios_app&utm_name=iossmf Here’s my favorite strategy: https://www.reddit.com/r/Daytrading/comments/ndaasa/simple_and_effective_day_trading_method_but/?utm_source=share&utm_medium=ios_app&utm_name=iossmf Thanks I appreciate it Anytime. Thanks! I use Ameritrade / Thinkorswim I will be messaging you in 7 days on [**2021-06-14 12:09:02 UTC**](http://www.wolframalpha.com/input/?i=2021-06-14%2012:09:02%20UTC%20To%20Local%20Time) to remind you of [**this link**](https://www.reddit.com/r/Daytrading/comments/ntsdd5/day_trading_for_a_living/h0wf571/?context=3) [**CLICK THIS LINK**](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5Bhttps%3A%2F%2Fwww.reddit.com%2Fr%2FDaytrading%2Fcomments%2Fntsdd5%2Fday_trading_for_a_living%2Fh0wf571%2F%5D%0A%0ARemindMe%21%202021-06-14%2012%3A09%3A02%20UTC) to send a PM to also be reminded and to reduce spam. ^(Parent commenter can ) [^(delete this message to hide from others.)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Delete%20Comment&message=Delete%21%20ntsdd5) ***** |[^(Info)](https://www.reddit.com/r/RemindMeBot/comments/e1bko7/remindmebot_info_v21/)|[^(Custom)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5BLink%20or%20message%20inside%20square%20brackets%5D%0A%0ARemindMe%21%20Time%20period%20here)|[^(Your Reminders)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=List%20Of%20Reminders&message=MyReminders%21)|[^(Feedback)](https://www.reddit.com/message/compose/?to=Watchful1&subject=RemindMeBot%20Feedback)| |-|-|-|-| 90% lose money because they don’t realize how hard it is and don’t put in the work. Mindset and effort will get you very far in this field Glad I could help! FSLY is one I did really well with today. OMI as well. Well first it’s trade size of course. But yes, the top traders know their strategy, know their win percentage , and trade the technicals not the P&L or emotion. Thanks. I don’t - I trade every day in the same chat room and post my trades as I do them. I did that with 30K. Took profits out every month. Made about 80K profit last year. Day traded over 800K when I saw my tax lady. IMO was super boring waiting for trade signals and not worth the stress of being able to lose. Definitely took a few weeks off to reset. Tried way to many strategies. Found one that worked the best for me and stayed with it. I would have made more money with a job and having my portfolio. Like people say, time in the market not timing the market. Glad I did it since I had the free time and money saved when I lost my job during the pandemic. I definitely know so much about investing now and I’m glad. Happy that you enjoy this career and see success. Congrats it’s not an easy job. Dude this is solid advice! Im currently in the learning paper trade phase. Moving to puerto rico to retire early from the armed forces and gonna try and generate a second income as im currently on a fixed. I only need about $500 a week to be happy. Any strats or information resources you could recommend would be great! Thanks for helping the new guys! We watch diligently. Much appreciated. I'm going to adopt the strategy you provided, it's a solid idea “The moment it stopped being a roller coaster and started being consistent”. This. It’s crazy how when you get really good at something, the world starts becoming more predictable and everything starts moving in slow motion. > your goal is to double it using your 3 day trades every 5 days I read this as, “your goal is to double your account every 5 days using swing trades of 3 days in duration for each trade”, and, man was I having a hard time figuring out how that would work lol. Appreciate your posts! I love doing challenges like that omg they're so fun!!! Thank you for breaking it down like this. I recently was given the option of being let go or taking a demotion at work so I'm starting to look at supplementing my income until I can find a better paying job, or just daytrade. With all of this stress reading you state a breakdown like this is very inspiring. I just started papertrading but if there is any strats or information resources you could recommend, I'd appreciate it. Thanks for helping and giving reminders to noobs. This is nauseating. Sure, learn how to trade first. But getting over PDT is the biggest hurdle to being able to day trade. Why learn how to trade around PDT if you don’t have to? My strategy is similar though. I am shooting for $30k minimum and end of the week I withdraw whatever is above that amount. How do you deal with the taxes? That seems like such a killer to me I’m assuming you have a much higher risk tolerance in this 5k account to be able to double it in a week to month? Post saved and bookmarked to read again and again. Thank you for sharing How much should one spend? I’ve started to build my acc. But I’m scared to spend profits cause idk what taxes will look like at the end of the year. I have a relatively small accounts that’s consistently growing, but that’s mainly because I’m not taking anything out. Any advice? I trade with options day to day, sometimes held 0days some a week, for more context. For tax purposes you need to be able to claim yourself as a Day Trader to the IRS which means you spend a certain number of hours a day doing it and make a certain number of trades, etc. otherwise you can’t write off shit and you get taxed all to hell. Thinkorswim to trade - OptionStalker to scan for stocks Thank you very much! Same to you too. Some really good info in the paid chatroom for Investitrade's supply and demand course. One time fee to get all the access. worth it to me imo, not shilling for it at all, I prefer the one time signup to 50 monthly or so that other chatrooms want. This one has the added benefit of the leaders going over daily supply and demand zones for the futures every day. Helps you find good ins and outs with the goal of making consistent profits I checked the channel for this subreddit too, but there’s just so much shilling going on there too. It’s just a matter of finding likeminded individuals that don’t shame people for having less experience or funding in the market is all. As for scams, I noticed once you spend a week in any investment related subreddit you start to get messages and invites from scammers, it’s kind of crazy. I’m the last month I’ve gotten more chat invites from scammers than I have in several years of Reddit. Good to know that such channels exist though, I’ll keep an eye open! Hey would you mind letting me in on the group? It’s nice having other people mention stocks when I’m not seeing much on my radar. I used to be a part of a group but it was majority new traders who were just looking to copy trades. Thanks for the comment! To be honest I’m not looking to make a living out of investing, if it happens, it happens. My Wife brings home the money while I stay home with the kids, but I do want to still use my mind, so when the market closes or after I have all of my cash being used at the moment I just want a group to be able to chat with, not necessarily “buy X and sell at Y target.” To me it is more of a mental exercise than a pad the bank process. Thanks for the tip Just seeing that you put in 12 hours+ per day tells me how hard you work at this to be successful. It’s pretty much the same with excelling in most professional careers. It takes passionate self motivated commitment, and isn’t something to be dabbled with. Thanks so much for the write up. Funded my first forex account in Nov 2017. I switched to futures in Jan 2020. I'd say 1.5 years but in reality my journey started 3.5 years ago. Welcome to hell. If you don’t risk enough you’ll never provide for your family the way they deserve and if you risk and lose you’ll never provide for your family the way they deserve. Yaaaayyyyy hell. Srsly - what’s your approach? Risk averse? Indices? Do you trade options? Oh my! I've loved it... but not envious of ya there, tho! You seem like a well rounded fella, and I'm glad I stumbled upon you today. Thank you for sharing a portion of the knowledge and experience you've gained! Mature souls seem to be quite rare in these forums. I have three grown kids ranging from 26-30, and two bonus sons from my 2nd marriage. Just graduated the 22 yr old from college and he just landed a job teaching history at his Alma Mater High School... his dream job... so off to a good start. And just graduated the youngest from that same High School and he's set to go through a private trade school to be a commercial diver/underwater welder... so hes on a good path too. Looking forward to some quieter times with the Missus now, and maybe borrowing one of our five... count 'em... FIVE grandsons (so far) now and then! Rock on, my man. I look forward to learning more from following you here! So I kinda saw this on NIO this week. Past few days it keeps trying to break $42 but keeps peaking a little lower than the previous attempt, and the volume keeps dropping lower and lower. So I sold it with the intention of buying back sometime next week for a cheaper price. Could you check the 10 day graph on that stock and tell me if my thinking is right or wrong? Hmmm...so the more savvy traders profit from the weaker traders and take their money. It makes sense. I assume it's probably not just the weaker day traders, but also other swing traders, or long-term investors. Ok, thanks! I didn’t read all of it but the challenge sounds ridiculous for someone new. I DM’d you when you get a sec! What a load of shit dude. As if one day of performance is somehow indicative of anything. Show us two years worth of performance or gtfo. You're just exposing yourself, and proving us right to be skeptical. As a subject I think internet communities may be underserved in terms of sociological research, but I’m the weirdo who takes some interest in seeing the results of what research exists of some of the more extreme corners of the internet. To my untrained eye the things you’re pointing out about Reddit trading subs is just what the somewhat less toxic areas of the internet look like. I no longer notice some of these attitudes because that’s just what comes with these communities. lol in that case, if you're going to jump in the pig pen, know you're doing just that. It's just an old joke. Lighten up there bro. Thank you. So many people on the interwebs can't summarize. Much appreciated kind trader. DM Me that’s a longer convo What a stupid response. I’ll admit, my daytrading hasn’t been great, but I don’t think the $400K profits I’ve managed swing trading *this year* is too bad. Out of curiosity, what are your daytrading profits so far for 2021? I’d love to learn from someone who is successful. You *are* at least supporting yourself by daytrading if you came in here to talk shit, right? ...right? No disrespect meant...it might just be a difference of definitions. However, I am glad you are having success and I wish you continued! Cool. I'll keep just chilling then. Definitely had some legends who have helped and people wanna help, but I'm 100% realistic, it's there job... Why drag themselves down if I don't add value! Also, it's Lamborghini these days it seems xD Interesting. I have a feeling there are different stories as there are traders. I'm now especially focused on premarket extended stocks reversing on or crossing gaps. It's clear there is a lot of importance around gaps and certainly during opening hour. I like them because I can study the situation well before and have my trade setups ready to send to the market. Momentum trading requires more action and decision making in the moment I feel. Does this make sense to you? Just want to repeat that I really appreciate you throwing in a hand to us who are still searching our way. Good to hear from another person at the other side. Trading skillset = trading strategies? Market knowledge = seasonality, trends, earnings, ...? They would have denied it already. They waited until their self-imposed decision date, tomorrow, to announce an approval. What makes you think they will not approve it Thanks. Maybe a certain website then? Motlyfool? Yahoo finance? Etc? Yeah. I just assumed/meant that likely you have to switch strategies? Or like, it’s a different skill set in a bear market. I’m a total novice, so I don’t know what I’m talking about, but it makes logical sense that you might need a strategy shift…at least for a swing trader. But honestly, I’m curious if that’s not true. Personally, I see stocks over and undershoot ALL. THE. TIME. And therein lies the trading opportunities it seems like. Out of curiosity what strategies seem to work best for you? I’m currently trying some out myself and am very new so any help would be appreciated! Thanks - best of luck to you! > Made about 80K profit last year. Day traded over 800K when I saw my tax lady. So did you have to pay taxes on 80k or 800k? The idea of compounding never tempted you? I find it very tempting! Shoot me a DM Yeah, don’t lose your retirement. If you need to learn some we can connect us. I'm Daytrader since 5 Years 🚀 It definitely can take longer than 5 days to double it, but you only get 3 day trades every 5 days if you use margin. So combining those with really good swings, should be able to take that 5k to 10k in a month. Yeah, they are. I do it in a sep account, and it really keeps me sharp. Sure shoot me a DM I’m currently reading the wiki over again and I just went through a rabbit hole and ended up here at your comment. Forgive me for being “nosy” because I am not trying to be, but I’m wondering where you are at with your journey? Was this worth the time (a true investment)? I heard that some guy who was flagged as a pattern day trader is doing 25 to life in Pelican Bay. Shit is serious. I pay them lol You need to have Day Trader status under the IRS classification. And use a llc or s Corp Not necessarily no - for example - going long OMI this morning at 43.26 , using options. [removed] I've been looking into that course. Is it an in depth course for supply or demand or is it basic? How many hours of instruction on supply and demand specifically? Shoot me a DM and I can give you some thoughts. Great rewards rarely come without hard work, you’re right. [deleted] I don’t trade options. I’m mostly just buying and holding right now, because when I trade, I’m not really a ton better than just holding. However, I do make swing trades on some obvious moves. I’ve tried options and I just suck at it. How about you? That’s awesome to hear! My 29 year old step daughter from my first marriage is finishing her PhD right now. I guess we did something’s right? Here’s to the next adventure! NIO - nice gap up on decent volume. It held the gap and is above the 50 and 200 SMA. There is horizontal resistance at around 43, and the 100 SMA is at 44.70. I would put in an alert to buy NIO at 43.10, and to sell it if it can’t get through the 200 SMA. The only way to tell whether this is sector rotation strength that can quickly be deflated if the market rotates out or a real sustained move is if it closes above 44.70 and then holds the bid after that. Hope that helps! Then I’m very glad you didn’t read all of it. It’s also quite funny, as that “challenge” is a fairly common exercise. It’s also not that difficult but I’m sorry you think it is. “Us”? Who is “us” here. Offer stands. While there feel free to talk to people I’ve traded with for years. You’re basically telling someone to prove their job is their job on a site where everyone who has done that were then told that their proof was lies. You’re under the delusion I care what you believe, I don’t. Either take the advice or not. Sutherland’s theories on differential association most likely fit quite well. Yeah never surprised but still constantly shocked if that makes any sense. Read the room bro. Do you know how much “Day trading isn’t real” , “you can’t make a living doing this” toxic crap from the dunning Kruger poster children of this sub I put up with? You’d be on edge as well. Care to elaborate? Considering this is my job and has been for 5 years, and it’s the job of many others, I’m a bit confused as to why you seem to dismiss it so readily. [removed] We declare Day Trader on our taxes - it is a 60 hr a week job for us, and many of us have been doing it for over 5 years. To us it is our career and we do quite well with it. We know how hard it is to get there, but there many many people who do this for a living, put our kids through college, buy our homes and cars, support our family. I’m genuinely curious why you think it’s not a career? Being 100% serious - just curious. [deleted] When I said trading skillset it really encompases everything, reading candlesticks, seeing price action, tracking the order book, making sense of the moving averages, finding price levels, setting stops, adding risk, taking profits and yes, using different trading strategies. The more strategies you know and the more setups you see the better you are able to select the most profitable ones. Similarly, market knowledge includes everything about the flow of money in and out of the market and in and out of the tickers you are trading, especially including the psychology of the market participants ( and my own psychology. ) Some days I have no clue what the market is doing or why my tickers are doing what they are doing. Other times I can predict, say, what price level a run is going to stop at. I would like to minimize the number of the former and maximize the incidents of the later . It constantly amazes me how much there is to learn in this endeavor. Every day I learn something new. I am trading on setups and watching products this month that I only had the barest idea even existed just a month ago. Just about every scientist has come out against it based on the data. Finviz.com and OneOption are my most used. As a day trader every day is either a bull or bear market in a way. Some may frown upon this advice but I am always an advocate for taking a course on how to day trade. Yes, they cost money but you learn one particular style vs. testing multiple styles and getting lost in frustration. (My opinion here - I do want to point that out) There is even a FREE course you can take on day trading listed in this forum if money is tight. Definitely look through u/HSeldon2020 profile for his tips. Also, look at the Wiki of this site. There are resources galore here. I'd suggest making a paper account and pracitllticing first if you're using margins. Learn a strategy that works for u on a paper account then just do the same thing again but with real money He said day traded over $800k, you pay on your $80k of profit not $800k of volume. Though depending on where you traded, there could have been around $5k+ of fees or so. 80K As none of this happened, probably best to just ignore him. That’s what a 401K is for lol Ha! Dont worry its not a lump some its a paycheck till i die.... it stays in a separate account. I been screwing around with btc for along time so i got enough to open a $2500 margin account. Im hoping that since i wont “need” to make money trading to pay bills it will make it a little easier to deal with the emotional side of trading. I figure learn slow and steady and maybe i can be that 1% thats trading on the beach watching my kids play.... The best comment. Thanks, I see you mention $5k challenge here, and 5-wide put credit spreads in your other post. What bull put spreads would you typically do in the $5k challenge? In other words, in your other post you say 10x 5-wide spreads on AVGO. What’s the $5k challenge version of that trade look like? Like is it just 1 spread instead of 10? Or would you adjust any other parameters like spread width, short delta, etc to keep appropriate risk on the smaller account? Wait I thought you only got 3 trades every 5 days if you didn’t use margin, I thought margin was basically a loan from your broker? But I have no margin and am still limited to 3 day trades every 5 days It is absolutely worth the time. I daytraded for a while but realized it wasn't for me. I landed on swing/option trading. But it was difficult to understand my strengths and weaknesses. I'm not a fan of sitting in front on my computer from market open to close. I found it tedious and very stressful. However, swing trading offered me more time to study a company/trade so I can make a proper decision. It's not fun seeing other people's trades and their knowledge can be way more intense but it all makes sense eventually. There's a moment where it'll click and it becomes a second language. On top of all of that it helped me understand finances in general: retirement investing, investing for my kid, etc... I'll admit it wasn't fun at first, it was tedious and frustrating. It was like trying to fit a square peg in a round hole but the more I read, watched, and just immersed myself in the ""stock world"" it slowly makes sense. Don't be discouraged if you don't get things at first. Study, write down things that don't make sense, move on then come back to that thing that doesn't make sense. Take your time. It's not a sprint, it's a marathon and like a marathon you have to start slow and eventually you'll sprint. Do you usually trade options with b/a spreads that wide? For me... for some trades, I will increase my risk on how probable the trade is of going my direction. For instance, there are certain scenarios that only play out only a few times a year or few times a month that I really like to see. Do you take the same approach? Tax guy here and have never signed a return for a day trader but have seen 1 or 2 tax returns of day traders. The income generally flows to Schedule C similar to a self-employed individual generally if an LLC is formed or not. I can't comment on partnership or corporations as those are generally flow through entities. The gains and losses aren't capital gains eligible for preferential tax rates (e.g. 15% or 20%). You can claim software expenses (charting), investing publications, office-in-home expenses, depreciation on computer, etc... against the income you make. If you end up in a net profit on your Schedule C, it's taxed as ordinary income and subject to self-employment taxes. You can open a Solo 401k or SEP retirement plan and contribute into your retirement income up to the qualified income. You also take an adjustment for half of your self-employment taxes. This then helps reduce your income before you arrive at your adjusted gross income. Your tax liability is calculated after you account for either itemized deductions or standard deduction. This tax liability + SE taxes (in essence is your contribution + employer contribution to your Social Security and Medicare taxes at 15.30%). You could have other credits and taxes that affect your total tax owed. Caveat: This is in general terms and not considered tax advice. Every facts and circumstances need to considered to determine the correct tax treatment. Please consult a tax advisor for your specific situation :) To be honest my accountant does it but I can say I run the money through a loan-out S-Corp allowing me to write off literally everything. If I didn’t use that I’d be hit with an additional 10-15% easy. so, pretty much all the info you need to be good at finding supply and demand zones are all for free on his youtube. You don't need to pay to learn what he's teaching. The advantages of the classroom/discord are: daily S/D zones given for ES and NQ daily pre-market plan and some intraday commentary and a pretty good community of people who are somewhat serious about trading. Altogether it's a pretty decent asset to have, you know, you can check in before market opens and they say OK these are the parameters we are looking for, this would invalidate X, SPY is opening inside a supply zone, etc etc I think for me I always wanted it ever since my first forex account. But when I got into futures, I told myself ""wtf man, are you seriously going to keep losing money?"" I think that's when I really buckled up and got into the true art of trading. Good luck man! Debrief debrief debrief. Never tried options. Mathematically I think it makes sense to buy calls along with buy and hold but I haven’t figured it out yet. It’s also not clear to me whether you have to have the capital to actually buy the 1,000 shares for which you have options if you want to cash them in. I’m exclusively buy and hold but watching the meme stocks swing up faster than a 10 year index fund makes me think I’m missing out. Yeah I was thinking somewhat similar. It needs to prove the EV sector is back with some more strong movement before I’m convinced What time frame are you referring to though? Cause when I’m looking at my graph the price is above the 20 day 100 day and 200 day EMA Not to a seasoned trader I’m sure. Everyone would just jump in and double their money. I’m happy you’ve done well for yourself The issue is not whether or not whether anyone believes you. That's not the point I'm trying to get across here. Your post history sounds like you're probably trading theta decay. There's a pretty good chance you've made money with it, although you need a longer sample size to really see the long term performance of such systems. It's also probably not something most traders on this sub would be able to duplicate due to the risk involved. Still, given sufficient capital you can probably make money over a year period with such a strategy. That's not the point at issue. The point I am trying to make is that assuming you are profitable, the way you are going about sharing that is not actually helpful. In fact, I'd say that implying one day's worth of results is meaningful is actually harmful. There's thousands of people posting, and readers have no way of verifying anything. In effect you are just creating more noise. The only thing that is actually helpful to people is empirical evidence. Information that can be examined and verified. Instead of holding yourself up as an example to follow you should be presenting the empirical evidence that backs up the strategy. That volatility clusters, and the majority of options expire worthless. That's information that readers can look up. They don't have to wonder if you're lying or just got lucky. They should be asking you for evidence. There's lots of scams. There's lots of liars. There's lots of people that just haven't realized how little they really know yet. Everyone should be verifying any information presented. It is simply preposterous to imply that such due diligence is too much of an inconvenience to you. If that's going to be your approach, then the retail trader community would be better off with you keeping everything to yourself. Kids, man Preach to the choir, I have been active for 5 years and a true believer. Just don't lose your sense of humor. It's just an old joke. If we had been at a party you would have laughed. Sure I’ll bite. Dark pools - helps you or institutions? Automatic routing - are you scraping off those orders as they come in? Bloomberg terminals - serving retail day traders? Tell me where I’m wrong. I’m really interested to know what tools advantage you, the retail day trader, exclusively. Bonus: remind me what the success rate is for retail day traders. Tell me more about how to trade successfully. I’m only up $400K for the year. Actually scalp trading is nothing for me. Way to fast and nervous. For example today I had about 15 possible trade setups. 4 of them were set as fully automated with a bracket order. The one below got triggered and is a good example of what I try to do: CROX filling an earlier gap. The dotted lines are the extremes of the gap. Stop buy order was set deep in the gap as there was an earlier spike in it just below this level. [https://www.tradingview.com/x/dSc7FL82/](https://www.tradingview.com/x/dSc7FL82/) I'm still exploring, learning every day to tweak it and at the end have no idea if it can be profitable. Have you ever heard of someone taking such an approach and be profitable? >Similarly, market knowledge includes everything about the flow of money in and out of the market and in and out of the tickers you are trading, especially including the psychology of the market participants ( and my own psychology. ) Some days I have no clue what the market is doing or why my tickers are doing what they are doing. Other times I can predict, say, what price level a run is going to stop at. I would like to minimize the number of the former and maximize the incidents of the later . Are you talking here about seasonality, market or economic cycles? If you can give me the magic words to Google I can look deeper into it. Thank you. EVERY SCIENTIST. THAT IS A LOT OF PEOPLE That’s tough as BPS’ take up a lot of buying power. You should have 10k in margin. I would do FUTU 121/120, instead expiring 6/25 and try to get .25 cents for it, and do around 15 contracts. Credit to Warstan for finding that one! Thank you for your response, greatly appreciated. I have been thinking that maybe I’m not intelligent enough, these professionals seem like geniuses. I have been told I’m intelligent and I’ve always thought I was pretty intelligent (I’ve had my moments, anyway 😅), but since starting the journey I have had multiple days where I just beat myself up over not understanding something. I figure it out eventually, but it must just come naturally or easier to some people. In my regular account I do over 25 trades a day. I’m usually trading the stock. Great info. Thanks for posting. Hi OP! Thanks for sharing this info. One question: did you do it by yourself or you hired a firm? Talking about setting up a S-Corp for day trading. Thanks! seems I'm gonna have to start saving up a little bit of $$. Also, apart from your routine, is there a certain period in the day where day trading looks more profitable, or doesnt it really matter? Asking because I'm in europe and e.g. US markets are open until 11pm for me, giving me a whole lot of time post-work to do this while I can't make a living off of it yet. Meme stocks are an illusion IMO. Like, try timing it. I bought GME on the first run at $87. It went to $150, then dropped down to $110 where I sold. I figured it had already pumped 10x or 20x or whatever, and it was likely done. Well…it went to $400. You literally can’t time the memes. Then just do the exercise as a paper trade and not a live trade. The goal is to apply the techniques and learn where they work and analyze where they don't and continually apply your revised understanding. You can do that with paper or live. I stopped reading your long reply the moment you said I basically trade theta decay - I’m a day trader, how much theta decay do you think occurs in 1 day? I’ve helped countless traders on here, many of which are profitable traders now, many of which I trade with every day, so to say it’s not helpful is also kind of strange. In all honesty you come across as a failed trader is who about to tell me that your not, but it has left you very skeptical. The success rate is crap, because most don’t realize the amount of work required. Nobody is saying that institutions do not have an edge. But I’m not fighting them, I’m following their bread crumbs. How do you explain the existence of many many day traders who do this for a living? The ones I trade with trade with our own edge and strategy, while others use their own. Either way we are all consistently profitable. But according to you, we can’t exist. Post that 400k profit. Post it to this sub as a gain. [deleted] Did you forget about the “just about” part? Here: https://www.google.com/amp/s/www.axios.com/fda-aducanumab-biogen-alzheimers-drug-approval-3b148700-97fc-417c-9b75-42ea8e368728.html Why 15 1-wide instead of fewer but wider? If the deltas are so close, isn’t it essentially a theta play, and wouldn’t some net delta difference between the legs respond better when price moves in your favor? I used Swftfilings - pretty easy to do So what do you mean by “obvious swing trades??” This is so true I didn’t even consider that. Good point. Oh and OP thank you for the post I did eventually read it and it is very informative. Sorry for earlier. Edit: aside from paper trading teaches you but lacks the emotion of real money. Trades most likely will never be the same. Ahh so if you're catching 80% winrates then that just means you're probably just taking the really big stops. So really everyone is right to be doubting and giving you cynicism, and we just need to wait long enough for you to blow up again. Quote my original comment in its entirety. Let’s dissect the line where I supposedly declare that nobody ever succeeds at daytrading. I enjoy exposing idiots who shrink behind strawman arguments. I've done it before. You will just get butthurt about it, and I'll have wasted my time. Go stalking through my comments if you want. Maybe if you focused more on improving your trading instead of gain/loss porn, you wouldn't feel insecure about my claim, which honestly isn't even that big of a number. I know traders making way more than that, but they aren't here. Went long on this one, bracket:Stop Buy @ 104.96 (this means my buy was at the 2nd min after opening the market and not at the pullback as you might have expected)Stop Sell @ 103.57Limit Sell @ 107.07 No short as it could have given a small bounce at upper extreme gap and continue going up. However when going long, usually when a gap has been started it's being finished when there is enough volatility and the stock is overextended (outside of bands). That's why I would have canceled the trade if it wasn't triggered within the first 15-30min of opening the market. I keep an overview of all my setups on 5min charts. Once a trade is started I switch to 1min and put a higher time frame chart next to it in order to keep most important resistances in sight. This is what I have been trying so far. I'm just paper trading, adding & learning every day without a clue if this will work on the longer term. So, shoot. I'm happy to hear your comments. For example why wouldn't you trade CROX at a 1min chart? EDIT: Indicators Modified Keltner channels: 2.25ATR with 20EMA (Adam Grimes' setup) Other line is MA50 but I don't use it for day trading. I would allow a relative with Alzheimer’s disease, take a chance for a positive affect, as long as the risks were minimal. Great question. The narrow the spread, the easier to leg out if it goes against you and the less likely you’re caught between strikes. Other than that the odds of success are identical, which is FUTU staying above 121. Not OP, but I can answer - wider spreads takes more buying power, which means you can afford fewer contracts. If you go narrow, you use less buying power and can get more contracts - BUT... if the trade goes against you, you're much more likely to hit max loss. That's the risk with this trade. And yes - with the deltas so close you are essentially relying on theta to do the work (although you'll definitely be helped by the underlying moving away from your strikes). Thanks! Where in the world are you getting 80% win rates?? On BPS’? My win rate there is well over 90%. And I use BPS’ to supplement income from day trading. Also why would anyone root for someone to blow up their account, as you clearly are? I’m on my 27th consecutive profitable month. Seriously, what is wrong with you?? That’s a really arrogant and weird thing to say. The intention behind your statement is blatantly obvious. Nor have you answered my question. All you seem to want to do is engage in hostility for no apparent reason. Your entire argument is that day traders fail because of the imbalance in edge that exists on the institutional side, which simply isn’t true at all. [deleted] Hell so would I! The FDA on the other hand doesn’t seem to concur. I hope they do approve it though - not for the stock, but if it can help people than I’m all for it. Yes I enjoy seeing charlatans fail and blow up their accounts. It's a hobby of mine. Enjoy it while it lasts. So you can’t find the line. But you’re doubling down on your imaginary strawman argument anyway, because you are too embarrassed to admit you are wrong. How shameful. >Do you care if I just make a shitty video really quick Sure. We'll not put it on Youtube ;-) Weird hobby. And since I charge nothing and sell nothing that a very odd charlatan I would think. So far you have not explained where you’re getting an 80% win rate or why I use theta burn as a primary income source? You’re just a troll, that’s it. I hell traders and you troll people that help. I honestly don’t even know what you’re talking about or arguing at this point. Senseless. I don't troll. I warn people against ill advised strategies that have poor risk adjusted returns. In your post titled ""How I Got Started"" you claim ""my 2021 win rate is 87.2%"". Trading theta is one strategy that tends to have such high winrates. Given posts about options I was giving you the benefit of the doubt that maybe you were trading something known to have some edge. Instead, it's clear that you are simply taking on excessive risk. Cute rage quit. That’s the master day trader mentality LOL" Blowing up your account is the best lesson you can ever have,1587,https://www.reddit.com/r/Daytrading/comments/lpvsex/blowing_up_your_account_is_the_best_lesson_you/,"If blowing up your account is cool, consider me Miles Davis Id rather make a penny a hundred times than lose a dollar once. “Every man should lose a battle in his youth so he does not lose a war when he is old.” I seriously made all the mistakes you wrote in one trade lmao.. learn from the loss I blew my account today too when my Samsung Smart Fridge broke and I couldn't close out some of my positions when the bears attacked I didn’t sell GME at the top bc I believed in the short squeeze... “Stick 100% to your strategy.” What if your strategy sucks or you don’t know how to differentiate between a good strategy and a bad one?That’s the difficulty for newer traders. was it on $AMZN? b/c that was my biggest loss ever - lost, tried to revenge it, lost that, broke all my rules esp about $ risked - ate up almost 25% of acct. total, makes me wanna barf just typing it [deleted] If you're not already reviewing your trades with friends I recommend finding a group to do this with on a regular basis. Best of luck! You will never go broke taking a profit. Focus on trading well, the money will follow. This post fell onto my feed in perfect timing. Just experienced all those things and the feelings that came with it. And same as you, I don’t want to take a break. I love this stuff. Thanks for sharing!! Screen shotting this and adding this as my wallpaper. Wise words my friend. Sometimes I get blinded by greed and that is what truly limits my trading. I’ve learned the hard way as well. I take whatever profits I have for the current day, no matter what. I don’t care if it skyrockets after I sell. Once I close a trade I take it off my watch list and move on to the next . Have a question, i hear this phrase ""blow up my account"" all over the place but what does this mean? If trading with leverage and you blow up the account, do you have to pay that leverage money back? Or do people just start a brand new account and load up another $500-1k+ and you good to go again? And is a brand new account actually needed? Or can keep same account? Thx. You may want to make it sound like blowing up is a good thing, but blowing up your account is always the pinnacle of bad trading, period. Take a good while to reflect and adjust. I do not see any mention of using a stop loss in your lessons, why is that? Good luck getting back in the saddle. Don’t let negative P&L fuck with you. Can be weigh on the brain, especially with everyone’s gain porn lol. Felt a bad vibe with revenge trading so I don’t really do that. Don’t forget to ALWAYS have a stop loss Part of the game brother. I’ve blown up my account as well and just starting to wrap my head around how to get it back. Moved on to the simulator for a bit as well. I would add: **Always have a backup internet connection or two. And have your broker contact at hand.** Once went down 40k because of an internet connection issue that lagged the quotes for 5 minutes. There was no backup connection and by the time the broker contact was found it was quite late. I completely agree 100%, After losing so much on gme I’m not even mad at myself. I look at it as a learning opportunity a pose to a failure. Do you ever feel like something is out to get you? Like every move you make during the day or week is immediately countered and turned on you immediately? Am I paranoid or are there algorithms that are hunting my trades? It’s just really odd. I jumped in a few weeks ago because of all the GME hype. I threw $1000 on AMC and $5000 on HCMC because I had the cash and I figured there is no time like the present. My portfolio is closer to -50% but it’s all part of the learning curve! I love the excitement of it. I’m sticking to paper trading to hone my strategy while educating myself everyday. I’m getting some gains that way and it’s some of the most fun I’ve had making “money” in my life. I’ve learned more in the last few weeks than I did in a semester of college because the losses really did make a sink or swim situation. If I could do it over again, I would hold off on using my own money and: 1) Take advantage of PaperMoney for the full 60 day trial. I’d treat the starting cash like it is my own, mimicking the strategies I can implement in real life. 2)Educate, educate, educate. Similar to measure twice, cut once. Others have come before me and learned all of this the hard way, and made free tutorials so I don’t have to. 3) Start with less. No, I’m not really going to notice the $6000 I already sunk, but that was quite a bit ballsier than I should have been. 4) Patience. Sure, you *can* double your account and then some in hours but the real money is a repeatable plan and making decisions based on logic and patterns. All worth it though! Everyone is a genius in hindsight. I can’t wait to get some wind beneath my wings. I feel this in my bones I hate to say it, but if this is to first time, you will blow up another account. I’ve blown up maybe 10 for reference. There does come a time where you say to yourself “enough is enough”. Unfortunately, your wins can be the most toxic thing. I have many trades where I profit 100-200%, believe it or not. However, these very trades are the same reason I have such a tough time making 20 or 30% and exiting the trade. If I could get that down, I’d be a millionaire by now. It’s a lot easier said than done when you are good enough at trading to actually have great success. If you find the secret, please let me know. You’re on the right track though. Damn the signs off a trade junkie man don't be an addict to flashy up and down numbers man it's a game when you take no gains. Come on man. Dude what? How was it even possible to lose your entire account in a single trade? It should even be possible to lose more than 15% in a single day TOPS Why do people feel the need to advertise their failures AND dispense advice? These self-help, look at me posts clutter these threads. [deleted] You not alone bro. Welcome to the club Easier said than done. I can't say how many times I've burned myself because I got greedy and changed my exit strategy when the moment came to act on it. What was your trade, can you share details? I've blown my account up around five times now, the lesson I've learned is to just keep buying FD's Stick to your strategy 100%!!! I lost too much on GME because I didn’t follow the damn strategy. My plan was sell no later than Friday, even then I didn’t follow my M-W rule. Now how do we get it back after taking the biggest L? I have made some small profits since, but now just 1000% more cautious. This pre-am, I wanted to buy Vuzi at $19.50 and CCIV at $59.5 and sell at $21-22/$61-62, respectively. I even had saved orders, but couldn’t pull trigger. I am really trying to take the small gains just to self-check my self and I keep a trading journal to remind myself I am not that far off. Even if I am not making $, I am making the right calls. I knew GME would go back up when it was in $30s on Friday, but sure couldn’t touch it as cost basis would be sky high. How do we get the mojo back to get on the streak? I almost did long time ago just because a stock kept going up. I sold other stocks and all in on that one stock that I thought would give me a jackpot. Excitement followed and the feeling that you could not be wrong with your decision. The next day it was like the end of the world. I felt like that stock picked on me and waited for me to bet everything to take my money. The 3rd day of red I had the courage to sell and take what remains of my money. Now everytime I feel the urge to YOLO bet I just have to say... REMEMBER THE ALAMO!!! Revenge trading got me after GME... went from being down $10k to being down $16k... nice... Very true, I felt high and invincible when my account is going up on risky stocks. Only when they crash did I learn my lesson. Better to lose 1 thousand now than 50 thousand in the future. [deleted] Blowing up an account is not cool. Not fun. Hard lesson? Sure. Best lesson? Hardly. Dude. What stock got you?? Lol true. I consider myself lucky it happened early enough in 2020 that I still had time to review, be patient, and think again about how dangerous what I was doing was, while then being able to still come back and take advantage of the 2020 bull market I agree, a good margin call creates discipline. Nah, the best lesson is the one you learn from others. And not destroying your account on one trade is pretty basic stuff lol They need to hear this. Best of luck. thank you very much for sharing what you’ve learned Have done this plenty of times before I actually started implementing a risk management plan. Sometimes I think to myself on trades that really worked out I wish I put more money in. But I have had trades where I used no risk management because I was really sure at the time it would work out and had erased months to a year of gains. Never again will I take risk management for granted. We all learn the hard way, it’s the winners who get back up and try again ✊ Had a wild day 2 days ago.90 percent increase on my trade (crypto) Even got out, burned the whole win in less than 5 minutes and even lost a little trying to get my gains back . Never ever ever ever go in without a stop loss ever. Nobody knows where the market will go , ever No it’s not. Not when you blow it up before you pay tax on last years gains. Did that in 2018 and still am not out of the hole two years later Checking In - Everything’s down but don’t panic! Just checking in to see how people are handling this 15% drop across the board. Remember analyst have been saying we’re gonna see a 40% drop. I personally think we’re gonna see closer to a 50% drop. My thought was to exit and take the small loss so I can buy back in when things are dirt cheap again. Cash management rules when dealing with continual doubling down so you have to know when to get out. For me that pain point was a 10% drop, I can’t complain when I’m at a 287% return over the last 4 months. Keep in mind that institutional purchases are viewed as large transactions and for every large buyer there is a large seller. There’s been grumbling a of a $1.5 billion transaction that occurred. Look, that’s a good thing, it shows that there is demand even if the market reacts negatively to such as large transaction. One thing is certain. You can’t win them all and you will have bad trading days. This is NOT a bad trading day but rather an opportunity to buy back into a stable price point. Markets cannot keep growing day over day from just demand and all of this printing of money from the pandemic will have a negative (initially changing to a positive) when money is introduced (if people spend). If people hold onto the money out of fear them the markets will stagnate and I’m pretty sure that’s what’s gonna happen. All this money being printed has to come from somewhere and the saying “money doesn’t grow on trees” comes to mind. There will be raised interest rates at some point and inflation is a thing. The one thing that’s certain is that things are changing and will continue to change. Until we get people back to work and get more money going into the economy we’re not gonna see growth and explosions of wealth that have been occurring over that last 2 months. Demand pushed crypto to very high levels and what goes up must come down. We can’t defy gravity forever. So what now? I wanted to leave you with some ideas. One thing that was brought up today was that we don’t need to trade or invest. You can’t lose if you pull out until things stabilize. Here are a few ideas: Look for hour of hour growth, that indicates that the free fall may have stopped. Understand that there is support and crypto has already fallen through 3 levels of support (in most cases today). It may fall through another 3 or 4 levels of support until we see a new floor. We didn’t get here overnight and I suspect things may in fact fall 40% to 50% over the coming days. In fact some crypto has already fallen 15% and is still falling. Silver There’s been a lot of talk on silver. Things are gonna be rocky for awhile and when that happens silver and gold are one of the mainstays to store wealth. There’s been a few days worth of analyst talking about silver specifically so that may be a play for some. Silver was up at the time of this writing. Trading Pairs Some folks are trading opposite pairs to hedge (limit their potential losses). There are strategies that can work to your advantage if you buy the right pairs, just be prepared to hold until one of those positions corrects itself when all of this instability is over. Looking Ahead We should know pretty early tomorrow what’s happening and if we picked the right strategies to weather this bump in the road. Good luck and happy trading! Notice: None of the previous message is intended to be financial advice. This write up is an opinion of the author and the content discussed may or may not be suitable for your financial situation. Whenever I doubt we recommend that you consult a professional that is skilled in the topics discussed. I'm right there with you today. Lost 50k over these last 3 days. I was using the money my wife and I had been saving up to buy a house. She said she couldnt bear to lose that money so I liquidated when it was getting close. On Wednesday I had double our money. Today, I'm out 10k up from where I started. I'll take it. I've never met a consistent profitable trader that hasn't blown up their account at least once or several times ***Trigger Warning!!*** I see SO MANY of these type of posts. Youre just rationalizing your loss! 99% of day traders are just food for the sharks. If youre not a pro, get out of the game. **GUH** exactly what will you do, mechanically, that will 100% prevent what just happened to you from happening again. if you {edit - can't} even prove it to me - i guarantee you are headed towards blowing up another account. so *exactly* what will you do to prevent account liquidation, *on every trade* / day of trading you take? [deleted] [deleted] after losing 500 real dollars today, I'm gonn let funds settle and get into my next trade with a clear mind You should never blow up your account, ever. I honestly fail to understand why are people trying to normalize this. All it says is that you have no system. Every single thing that you have listed can be learned without destroying your account. Set your risk % right, and if you have an edge, you will be profitable. Trading is basically the law of large numbers and no single trade matters on its own. Also, leverage is always good. High leverage does not mean that you over-leverage yourself to the tits. It means that you get more tries at any one time. with a 5x leverage, I am making the same sized trades as having no leverage, but now only 1/5 of my margin is locked up, and I can look for more opportunities while holding that position. Understand your own system, know your edge, and trade within your means. You blew up your account because you are winging every single trade. If you sense euphoria when you win and fear when you lose, you are not day trading, you are playing roulette... [deleted] [deleted] Blew up my account 4 times in 12 months, still haven't learned it seems Lol was this your first time? It won’t be last... My advice to add to this... it doesn’t matter how confident you are about a trade... know that you are a retail investor and your gains are capped. MM rob my account like $60k in less than an hour week and half ago. Fuckers. Agreed Bankroll Management is the way ... Thank you for sharing, i am pasting this to my stonks daily guide, so i will see it as a reminder...sucks to be a human sometimes, huh? You got this. What the fuck was your position and how much money? You either win or you learn my dude. That was me last week. Happens to us all Koss. Gme amc are back with very high shorts let's get in now Do you use stop loss? I used to use them all the time but I seem to be good at finding and timing the upswing but I get stopped out quite often from the noise. I usually end up having to buy back in at a higher price! I appreciate your post and can relate to everything you’re saying. I think I’ll scale up my trades accordingly and use the same buy/sell trading plan that I’m using currently, which has become profitable. I dream of 10x’ing my portfolio with big gains all the time but it’s probably best to be conservative and grow consistently and slowly. Wholesome love for ya and your pain ☺️...it’s sad but great sense of humor😂 Sorry to hear this. But thanks for sharing!! Did you have reason to believe it would bounce back after the initial small loss? Partial closes and positive stoplosses are your friends—and the safe way to “go for more” without endangering your account These are my favorite posts of all time, someone blows up an account and instead of taking a week or two to maybe reflect on it they come here to still try to give out advice to people 🤣 This makes me feel better about my losses. Last night I closed two positions that I only got into because of FOMO. OCGN and OGI. My P/L is 16.33%. I was holding them for two weeks thinking they'd go back up again but then I realized even IF they go back up I'd only be breaking even since I bought them at their peak. Closing those positions hurt but it was also a relief not to worry about them anymore. Literally happened to me today trading Binance leveraged futures. It is absolute madness even when using a stop loss. Felt bad for blowing up my account but fuck it Yeah I love losing money too. I FEEL THIS. Slow and steady, I had developed a pretty good strategy I was working. Then I saw something shiny and went off my playbook, even made the mistake of chasing a loss. Took an account from respectable to embarrassing in just under a week. Amazing how fast it can go when it’s so difficult to grow. Keep telling yourself that BAM... the gospel has been written. Best shit out there! OP speaks the truth. You don’t learn until you have lost. I did the same thing and was the same way. Now I’ve learned and doing much much much better. Keep it up man! You live and you learn! 👌🏻🤟🏼🤟🏼 good stuff right here. Thanks for sharing man. My heart goes out to you but I’m glad you got a teachable moment that will allow you to grow better then you could have previously. Take it from one who knows exactly how you feel! Great post. I have always been the type to take profits and walk away, not think twice. Rather make 10% and walk than wait around for more and lose. I never make trendy trades, never chase stocks up hill. I got way from my principles and strategy in recent weeks after a few rock star trades had me feeling a little high. I banked really big gains on QS, NVAX, and FLGT in the last few months. I gave roughly 40% of the profit I made on those 3 back this week. Dumb trades on dumb companies buying and selling in the wrong spots. Not the first time I have had a bad week by any means, just gotta make sure I regroup and get back to being disciplined. Have a little more patience. Be humbled by the process. It was SPWR wasn’t it I just want to add theres nothing wrong with taking out your initial investment when your up and playing with house money On a positive note at least you wont have to pay capital gains tax nope I've blown many demo accounts but never a live account :) I just click random tickers and YOLO the account at it. Usually works. I’m not a professional, this is not investment advice, I just like the thrill 🤪 I almost did today but losing half of my gains for the day on a series of bad trades. Very humbling... good tips! Tesla today ? The comeback is always greater than the setback. Lessons that matter never come free. A smooth sea never made a skilled sailor. If you are trading options you will blow up you account. Basically it's just a matter of when..not if Needed this reminder today. Thanks for posting. Let’s see it. Post your loss screenshot This is literally not the best lesson. As soon as I find a plan and it works I have learn to get another plan because the one I am using is not going to last long. Good plans don’t work for ever. I blew my account once and now I’m losing interest form the market. How do I motivate myself to get back to the market again. I do wanna trade but I just don’t have the confidence in my emotional control. Any tips?? A 90% win rate? What did you invest in? Yeah I've lost a good amount of money today, more than I ever have before, but I'm confident it'll bounce back, 90-95% of my investments are in solid, major corporations Not gonna lie, these are all amazing points and Ive seen these posts countless times. Despite that it keeps happening. So the lesson is really to blow yourself up, you only see pictures and what not but until it actually happens to you, you never learn it. Finally someone said it. 💪🤨 People say stock to your strategy but I’m having trouble finding a strategy I like. BRO!! You are dropping heat!! Question: What is High leverage? V >nobody went broke taking profits Jared Wesley has something to say about that Down 91% this week. Learning the hard way. Hahah, u learnt nothing. It was just a coincidence 🤣 Nice lesson. Always stay positive Who else is just shorting from now on because fml there are many ways to learn the lessons of life. Some rough, some smoove same story here bro. No worries. Take lesson and don't sell. Average cost if you have cash or stay and wait for an opportunity. That's what we can do right now. Need picture for loss porn fap Godspeed man!! The key phrase ""no trades is better than bad trades"" I couldn’t agree with this sentiment anymore lad. I share the exact same opinion. Although, I haven’t exactly blown up my account, but I am not far off. I put in a stop-market-sell order as my SL on an extremely volatile ticker last week (SCKT- if you know, you know), and on one of the many pullbacks that exceeded $1, I got wicked out, but unbeknown to me.. my stop market order was in fact a limit order, because stop markets sells actually have a reasonable limit to them, which I did not know about.. I thought a market sell was exactly what it sounds like - selling at whatever the market price is. So, I realised I hadn’t heard the ‘executed’ sound my broker makes when my SL gets activated, and my P&L was -$180 on my $1100 account (which I increased from $600 over 2.5 weeks), and my SL hadn’t been executed because it got skipped because of the stupid fucking limit it had on the market sell. Weird. So, I was obviously infuriated that I lost 15%+ of my account which I had worked so hard and had been so disciplined to achieve, to something that wasn’t my fault! I revenge traded a couple of times, by the end of the day on the same ticker, I was $400 down. It felt like I had been shot in the stomach. The next day, I was looking at premarket movers and thinking.. do I even have a strategy anymore? What was my strategy that allowed me to be right 76% of the time?! I had realised that I had completely thrown out my plan and tried to jump in on this big movers for some quick profit. I had done this so much recently that I had forgotten the very strategy that gave me enough confidence to stop paper trading and to go live. Despite this, I was still pissed off and wanted my money back, so I revenge traded that day too, lost another $200.. and now I was sat there with $500 in my account like what the fuck was I thinking. It pissed me off, I was hurt, ashamed, embarrassed, upset, and generally just disappointed in how I became ‘one of those idiots’ who revenge trade and deviate from their plan. That was last week. Since then, I’ve been going over my trades, working out where I was going wrong and how I can correct the mistakes. Safe to say, I’m in a much better place, I’ve remembered how to do my strategy, how to scan for the proper tickers that suit my account size, and obviously.. how to just use manual market sells when the time comes where I need to exit the trade (I still use SL as well, but I get ready to manually exit the trade when it’s approaching my SL). But yeah, I agree, it sucks, but it has brought me back to reality and back to being disciplined. No more chasing ridiculous stocks that are way out of my account size without proper risk management (I.e sizing down to have adequate stop losses, as I kept getting stopped out because I kept them so tight and bought more shares to gain more money). But yeah, great post man :) True - this can teach you a lot about trading and putting things into perspective. Agree with the revenge trading too - better to have a positive outlook and invest in something else you are interested and excited in Thank you for sharing your valuble experience with us. That is one of the main reasons why backtesting and papertrading matters before jumping on real trade. What broker do you use that has 2x leverage?? This is so true. Greed has cost me more money than I have gained. You aint cool, 'less you blow up your account Oh my god that’s the grossest thing I ever heard! Thank you for your message. I’m feeling brighter since yesterday. I hope you feel well too. Stock market trading is crazy and we are going to have a few bad days, which I can deal with. Then I believe after a small market correction, the only way is up. Good luck, stay happy, I’ll be around the evening to chat. Thanks, Martin LOL Like so many other things, it’s the draw of making a dollar that pulls people in. Dude makes bank fixing cars? I could do that. Dude makes bank selling his art? I could do that. Dude makes bank selling Apple? I could do that. Turns out the outliers make good headlines, the reality is brutal war in the trenches. You’re probably smart, you could make bank, gunna take a lotta luck and some serious effort. If it is was easy they’d be doing it at ASU. [removed] Excellent quote ...id rather lose the dollar Yeah I don’t think if recommending trading through a fridge even if it’s smart. Top signal. Same. Feels bad man. Well it was going to happen in all fairness. The market was manipulated by the likes of Robinhood and such locking out retailers. I remember being at 480 and deliberately not selling because all indicators pointed to it continuing to rise. Then everyone was locked out of buying and it crashed. The squeeze happened. Regardless, you had no plan. Why do you think you would have sold at $800. $1000? You probably wouldn’t. I think the point is stick to a good proven strategy bud lol This is where a trade log can help greatly. Use the data in your log to tell you which trading conditions you excel in and which conditions you're trash in. This is me slowly crawling my way back up a $750 loss. (Small account ~$1500) Reminds me of when people say to do your own DD What if they do that and they come to a bad conclusion? Lol I like the foundation of my strategy but I consider it fluid and incomplete. Also it’s contextual to the current market. Have to be able to adjust Paper trade.make 20 to 30 trades.if the winrate is below 50 percent change it until it exceeds 50 percent.once you got that , wrote down how you do those trades and never change the script Buy VOO and dont touch anything You're a sucker If your strategy sucks you should be refining it on paper trading rather than real cash. Then you shouldn’t be trading with real money until you know the answer to this question. What position did you have to blow up on Amazon? 3k stocks scare me and I’m an idiot. some of y’all are wild. Depends on what percentage of your trades are winners, and how big your losses are. It probably means they lost as much as they could lose before their broker forced a liquidation on their behalf. I'd hazard a guess they're down 90-100%. In theory, yup, if the broker doesn't get you out somehow, or if there's an overnight black swan after a gap, and you're stuck, you would owe them money if your balance goes negative. You would just keep the same account. You would have to meet any margin calls by depositing funds, or meeting a required minimum from your broker, maybe talk with someone on the phone to unrestrict your account by simply saying you understand you must follow their margin rules, and off you go again. You're right, I failed at risk management. Used way too much leverage, and didn't account for a 14% hourly wick. Had I used 5x leverage instead of 6x, I could have closed my trade now in massive profit (20%). I was doing very well prior to this - 90% winrate doing scalps. Was up 25% this month on approx 1000 trades. Most I ever lost on a trade was 0.5%. This particular trade was a swing trade and not a scalp. From now on I'm gonna stick to scalping. I can't handle the emotional aspect of swing trading. I feel like he had a stop loss at 10%...maybe that's just me reading between the lines. I can’t say any of the lessons learned aren’t what I was thinking before my 1st trade but, as humans, it breaks down. I am not judging, we are all equal under God so keep shining on to the end i have learned this the hard way too. Hanging on to a loser really drags your mental capacity and judgment down. Worth it in freed up brain power alone to cut ties with it. Manage your winners, not your losers. Sorry newbie question for you. Setting stop loss is easy, but when, how, and what type of stop loss to set is tricky. Better to set one though than not!!! I read about more people getting stopped out than stops helping anyone. (Talking crypto) If it’s stocks, yea, a stop is nice for those positions where you hold for months and may not be paying close attention. Where can I find said simulator Jesus dude. 10 times. When you say “blow up” do you mean the accounts get margin called? Got liquidated at the bottom of the largest 1h wick I have ever experienced: https://imgur.com/a/kHGaUz5 (14% drop in less than 1 hour) I was using 6x leverage. If I had used 5x leverage instead of 6x, I wouldn't have lost a dime. Poor risk management on my side. Never gonna use more than 2x from now on. I’m here to learn. A failure is a great opportunity to learn a valuable lesson. Whenever possible I want it to be someone else’s failure I’m learning from so I don’t have to make the same mistake myself. It can also be a reminder of past failures to prevent me from slipping back into self destructive methodology. If you are asking that question then you should trade 1:1 100X no stop loss. Vuzi is gonna explode. I fucking love them. Been holding since $1.78. Not a pro. This almost sounds like a form of self sabotage. You say you can feel it coming on, so why not step back & readjust then? You already know the warning signs & what not to do. Assess yourself regularly, ensure you’ve got yourself in check, remind yourself of what happens when you become complacent. A therapist might be useful in this situation, it may not be your trading that’s the problem but perhaps some underlying issue. Perhaps you enjoy the excitement of recovering the loss more than the plain sailing. Or maybe you just get too cocky after a while lol. [deleted] You should never put your account in risk of being blown up to begin with. Never risk more than 1-2% of your account balance per trade. Eh for most it’s not the best lesson because they’re lazy and not passionate enough to continue. Also not mentally strong. For me I blew up 4 accounts (only around 10k) in the last 8 months. I went from googling “good stocks to buy today” on google to learning how to chart, many indicators, patterns , trend lines, support resistance, fib retrace & extension. I could go on forever. Hell I help people make money now. Without losing I’d know nothing. I’d still be buying options because “i like the stock the rsi is oversold and it’s cheap” (not joking I used to only use rsi lol) looks like ethereum if you look at the prices Don't tell them to get out of the game. 1. They could always turn it around. 2. If they don't, we atleast need liquidity in the market. 😂 Oh yeah this is my 4th time, finally now getting it down. I think? Wtf Ive tripled my portfolio since biden. Gotta think green lol KeyWord here is paper, I made 70 percent on my first paper trade in a cfd account, Everything is different when real money is on the line and remind you the logic/common sense always urges you to hold the line or wait for it to comeback. Blame anyone but yourself lol Why ASU? Not when you’re a resident of Puerto Rico. Not if it is too few pennies. Send me a dollar This is the wrong sub, you're looking for r/wallstreetbets Feels bad man I was so frustrated at the system and that they were going to get away with it that I held onto way too much after that out of principle, and the hope that everyone would go back in hard. The potential gain of a 2nd infinisqueeze attempt would have been life changing. Instead I lost a bit of money and continue trading and made it back. I had limit sells at 800 but they stopped trading You mean I shouldn't keep slamming my nuts between this closet door? Got one handy? I’ve got an elaborate one ready to go based on materials I’ve been reading. I just wish I could find a list of concrete strategies rather than yet another explanation of what RSI is or how MACD works. The books I’ve read tell you to stick to a plan but I haven’t really seen a lot of actionable plans — just a lot of exposition about price action and indicators. Do you have any resource recommendations? Any particular tool you use for your trade log? Been doing this in a spreadsheet since literally day one but it’s getting unwieldy at this point and hard to actually analyze Change it up and try again. standard earnings play with OTM calls(3350 strike), they paid off in two days but I got greedy and it never came back. Had I taken the $5k profit and sold out, the difference would be in the $30k range. 1st time in literally forever that AMZN had a massive beat and fell 8/10 sessions. Today is not helping either. Unsolicited advice - find a proper liquid market with tight spreads. There are plenty of them, and they will move plenty to make or lose lots of money. If it happened once in crypto to you, it will happen again. These are not one time events. A stop still could've executed hundreds lower in that sort of instrument. It's irrelevant that it was a swing and not a scalp. It could drop like that just after you buy for a scalp, too. Nassim Taleb's famous turkey analogy is relevant here: https://www.reddit.com/r/funny/comments/9zjat9/happy_thanksgiving_courtesy_of_nassim_taleb/ With this in mind, ""doing well"" is still, let's be real, sugarcoating it for yourself. Best of luck. Can I ask why is leverage your marker for how much you can put into a trade? Why are you focussing on this rather than deciding your risk as a percentage of your account and using a stop loss. Why would he set a stop loss that allows him to lose his entire account? Yeah but I don’t like selling for a loss unless it’s a company I’m not really into. Most of them i hang on to until green then sell with a profit target, some even turned into longer term investments as I learned the value of the companies I invested in. They only real way to lose money in the market is playing options. You need to have your stop loss and take profit in mind before you make an entry. Typically a good area to set a SL would be near a candlestick of the prior resistance/support (depending on trend entry). This is dependent on the current market structure (E.G.- on an uptrend I will enter in when I have seen the market make a HH, HL, HH and wait to enter when I see the next HL, then I put my stop loss below the prior HL. In this entry I am anticipating a trend continuation, with the TP to a new HH) That’s a liquidity hunt. I trade forex, intraday. A position will usually exit with a TP or SL within 36 hours. Crypto is more volatile, if you do not want to use stops in your system that’s on you. I use stops. Google paper trading. Webull has one built in to the app No, I’ve never been Margin called, as I’m not THAT reckless. However, I have taken accounts to $0 or close to more times than I care to count. I use nearly 20x leverage trading futures, your issue is you don’t have a stop loss. I have defined risk and defined gain, which is why i will never blow up an account. What broker do you use that gives 6x leverage? Is that the same as margin? could this also have been avoided by overfunding the account, so that the debt ratio is lower and u have a buffer to protect against a freak drop? Sounds like leverage wasn't the problem. Your lack of a stop loss was the problem. The author offers only platitudes like “Never, Ever Be Greedy” and “Nobody ever went broke from taking profits.” The post glorifies losses and provides almost zero detail about the trade, from which we might actually learn. If people are truly benefitting from posts like this, they should be using only play money accounts. Hopefully. I'm in on VUZI as well Thanks for the reply. When I say blow up, I'm talking about a 20-30% account drawdown over the course of several trades or days. I've seen it's a very common thing, due primarily to psychological issues, not technical. When I'm trading well I am profitable for several weeks, but then the overconfidence kicks in and I start losing discipline. It's a viscous cycle and I know I'm not alone here. I'm curious how others broke the cycle. Glad to hear you never had a drawdown in your entire career. That takes strong discipline. You did something right. 1-2%? Seems like a waste of capital. I’ve been regularly using 20-50% intraday for years, would be a little more conservative if tapping into my margin though Yes, I'm aware of the standard rule of thumb. I also never said I had a drawdown in one single trade. Drawdowns after winning streaks or hitting new account highs are common issues for new traders. I specifically asked to hear some stories about how traders broke that cycle. Your answer was not helpful. See that’s actually awful. It clearly wasn’t the best lesson the first time and wasn’t the best lesson the __fourth__ time. Lazy is a reason to not learn proper money management. To be passionate about trading is to take the time to learn to do it correctly and responsibly. It takes more mental strength to be patient and stick to the books and learn how to trade properly, than it does to jump into a ~~retarded~~ position that you have literally no business being in, in the first place. The fact that anybody can jump into trading without bothering to be disciplined, without bothering to learn about money management or basing points in order to limit their losses.... it truly amazes me. I just will never see how a $10,000 “Lesson” (a lesson in arrogance, no less) is worth more or is a “better lesson” than __actual, factual, true knowledge__ that can be found in a $100 ~~free~~ book. $100 and you could have decades of experience in the palm of your hand. But so many people would prefer to spend thousands of dollars in order to learn *literally nothing*. You’d be better off using those thousands to wipe your ass. Blowing up an account doesn’t teach you anything. If someone blows up an account, they already knew they had no semblance of money management (or personal responsibility) and that point is now highlighted by stupidity. What knowledge does anyone gain from losing massive amounts of money? It may very well motivate someone to not do that again (or three more times ... ) *if* that person actually learns from it. The glorification of blowing up accounts is a coping mechanism used by people who can’t believe that they would actually, willingly, and intentionally put themselves in that position. It’s literally nothing but stupid. It’s nothing against you in particular. The glorification of blowing up accounts is one of the worst things for the trading community. A less harmful narrative to push for example, would be “All good traders smoke cigarettes.” Lmao, i guess thats true. But we already have HFT firms providing us that ""liquidity"". I just get bothered by this stuff. Watching regular people like me lose their stake and then rationalize it as something other than what it is. The firms that they're trading against literally never have a losing day. [deleted] Same, was 50/50 during trunk but during this new admin I’ve only had a handful of losing trades [deleted] Well aware. But I'm not doing this with any decent chunk of change, just a small cash account as a fun hobby. Using it as as catalyst to get interested in the market which has always been very boring to me. I buy with a 2% stop loss. Many time i immediately close out by default. All part of the game. But when u get a runner its all worth it. Uhhh You’re damn right I will... it was risky I’m not doubting that, but I was willing to lose some... the only thing I will blame myself for is not knowing how the markets are rigged to work against the retail investors. it literally took me less than a day to look into it and figure out who the fuck was fucking me and how is this allowed to happen. I didn’t see anyone figure out who’s really to blame for restrictions. And y’all are still falling for the shit.... Like vlad saying... “without regulations...” and no one said a fuckkng thing. What fucking regulations?!?!?!?!? You’re still accepting the bullshit reserve requirements story. My lessons learned this time was that I’m a retail investor and I’m just not allowed to make that much... and there is nothing I can do about or anyone else can do bc this. By 10:30 am... the daily volume was 2x the daily average volume... one hour after market opened. And then nothing for the rest of the day. I’m risky but I’m not that dumb and shouldn’t have loss 75% of my acct in ONE HOUR. The comments on stockwits alone were enough to make it clear as day... this was just getting fuxked. Unless you helped design this fucked up system... than you don’t have a clue. Obviously it’s not the first time I’ve lost my account but this is first time I refuse to just write off as another learning curve. It is... actually and last March when robinhood broke and lost my account from that.. but it’s fucked up and shouldn’t work like this. And before anyone wants to say something else... my reason for investing is to pay off my debt and student loans so I can quit my shit job I hate. Then I will Cuz asu sucks? Bear down Ill take 8! Can't bet anymore. Lost a dollar. I was closing in on ""made back my gamestop losses"" until CCIV collapsed Christ man you got me spewing my coffee. I fucking love this community. You loose money and feel bad but someone cracks a joke that relates to you and suddenly it stings a little less goddam redditors quoting System Of A Down lyrics goddammit I tell hue hwat Buy low, sell high works 100% of the time 60% of the time Buy low sell high. It’s foolproof. The simple strategies like ABCD work. The problem is sticking to them in the heat of the action. My strategy ( I RARELY day trade) may not suit your needs or risk tolerance. There are plenty of resources available online to help you pursue strategies that will check the proper boxes related to your needs. Not really man. I say that only because there are so many strategies out there based on many more indicators. It's all about preference. That's why I mentioned a trade log. If you haven't had any experience live trading, then start. Actual experience with your hard earned money on the line is the best teacher. Once you have that experience, you can go back and look at your trade log to see exactly what strategies are actually working for you. Instead of searching, planning, theorizing, or guessing you'll have actual data showing what's working and what isn't. I was going over my trade log just last week and noticed that double bottom reversals were my most profitable trades. Whether or not a strategy is working for you is what makes it concrete. I mainly focus on the time of entry and exits, share size, average cost, stop loss,profit target, reason for the trade(strategy), risk/reward, gain/loss amount and gain/loss percentage. Time to clean up variables that you're not using anymore. Spreadsheets evolve constantly. Sorry brother! I’ll be closing my eyes today. Wake me up on Friday The ‘ol “Last Stop” Loss. You're right, I should definitely have some kind of conservative stop loss in place as well. I thought I was invincible and didn't need one since I had done thousands of scalps and most I ever lost on those was 1%. This trade was a swing trade which I had the chance to close at a 0.5% profit but didnt, since I got greedy. If I ever do swing trading again I will make sure to close it early and use a stop loss. Remind me! 02/22/2022 What happens when your stop loss doesn't get triggered for whatever technical reason?, remember how TD SinkAndSwim was completely down for an entire week last year? So then to answer your reply specifically. You need a better strategy. Find yourself edge, back test it, try in paper, then move to small cash, then big cash position. Only move forward after each test is passed successfully. Edit: most importantly, use a journal either manually or something like tradervue.com which tracks all your stats. Winrate, expected profit/loss, etc. very helpful to stay the course even in drawdown or big win streak to keep an eye on bigger picture. Yeah I completely agree I didn't mean to glorify it at all I think it's terrible and you should definitely learn how to trade before entering. But the problem these days is nobody takes the time to learn because making money from options seems so easy. My first few months I made a few grand and I thought I was a genius. I of course tried to learn more, but I never put any real honest effort into it. The problem with 99% of traders entering the market is they are so greedy because money can come so easily, that sometimes it takes a few large losses to humble them. 8 months since trading options, I'm only down about 5k from 10k, and now I know more than so many traders I feel almost like I have a cheatcode. It's crazy how much you learn when you lose. There is just so much to learn that it's very difficult for any new trader to comprehend, they think MACD, RSI, STOCK IS GOOD AND LOW PRICE makes them a good trader. Then they blow up, enter a deep depression ( like me ) and realize what went wrong, and hopefully after the first blow up take it seriously. For me I had a tough life, I hated every job, I realized I don't want to go to college, I hated mornings and school. The easy money made me feel like I can afford anything and it got to me, over and over. It took me 4 times because I finally said I can't do this anymore, I want this to be my future, and in the last few weeks my trading has been so precise, responsible, and sometimes I wonder how the hell I even got here. You obviously don’t know what the word literally means cause your last sentence is literally not true. Believe it or not I did it finally! I was able to scalp options taking $50-100 profits each time today. I didn't make a single mistake, I stuck to my price target. Never went for a 2nd or 3rd pt unless my calls are a few months out. I cut a few calls that were down a small amount instead of saying it will go back up. Made back many of my losses and now im sitting on lots of cash! Honestly though, I really love trading. I used to hate mornings more than anyone, now when I hear my alarm I jump out of bed at 5 am. I want to take this seriously now, and starting today let me hope to keep this up. Now I am still down but made back 20% of my losses, and today was a huge wake up call. I almost fell into a depression again but instead said no more, this is the last try. We’re still in the post election honeymoon but it would be nice to ride it out green So you have a narrow niche portfolio and you blame the president for this? Nah mate, You fucked it up,Stop the bullshit with the market is rigged shit,This is not a moral battleground.It is your own fault for riding something that has been up 20X in a week. Who gives a fuck what they did, To blow your account by riding a meme stock is nobody else’s fault but yours Market isn’t rigged against retail investors ,Do you really think the whole market reacted the way you did just to fuck you over? There are people who made shit ton of money and funds that got in and out of the wave and made millions. We all know the odds aren’t in our favour but to say it was nothing but your greed which fucked you over is ridiculous.You had the option to sell when it was rocketing. More like bear scat. UofA is hippie town. ASU rules. I don't wanna be greedy. I'll take half a Bitcoin Roflmao we went full wsb Yes, we are proven fools. Motley, even. Do you hunt for the double bottoms or just wait for them to show up in a stock you are following? Truth. Thinking about just creating a local SQL DB with tables for my notes and spreadsheets, then joining those with the actual market data. Kind of hoping something like that would already exist though- ideally one with a visualization layer and other analytics e.g. a decision tree, mapped against actual outcomes. Actually, writing it out I’m kind of getting excited about just building it myself... fo'real Not sure if you’re being snarky, but i risk 1% of my account every trade. Please tell me how I can “blow up” my account. I will be messaging you in 1 year on [**2022-02-22 00:00:00 UTC**](http://www.wolframalpha.com/input/?i=2022-02-22%2000:00:00%20UTC%20To%20Local%20Time) to remind you of [**this link**](https://np.reddit.com/r/Daytrading/comments/lpvsex/blowing_up_your_account_is_the_best_lesson_you/godyzzv/?context=3) [**3 OTHERS CLICKED THIS LINK**](https://np.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5Bhttps%3A%2F%2Fwww.reddit.com%2Fr%2FDaytrading%2Fcomments%2Flpvsex%2Fblowing_up_your_account_is_the_best_lesson_you%2Fgodyzzv%2F%5D%0A%0ARemindMe%21%202022-02-22%2000%3A00%3A00%20UTC) to send a PM to also be reminded and to reduce spam. ^(Parent commenter can ) [^(delete this message to hide from others.)](https://np.reddit.com/message/compose/?to=RemindMeBot&subject=Delete%20Comment&message=Delete%21%20lpvsex) ***** |[^(Info)](https://np.reddit.com/r/RemindMeBot/comments/e1bko7/remindmebot_info_v21/)|[^(Custom)](https://np.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5BLink%20or%20message%20inside%20square%20brackets%5D%0A%0ARemindMe%21%20Time%20period%20here)|[^(Your Reminders)](https://np.reddit.com/message/compose/?to=RemindMeBot&subject=List%20Of%20Reminders&message=MyReminders%21)|[^(Feedback)](https://np.reddit.com/message/compose/?to=Watchful1&subject=RemindMeBot%20Feedback)| |-|-|-|-| I don’t know because i’ve never run into technical problems and i’m in an out of a position in less than 5 minutes. Don't use thinkorswim. That's also not the question I asked. But thanks for trying. I have an edge and a strategy and when trading well a profit factor between 1.5 and 2. I specifically asked about drawdowns due to psychology, such as hitting a new account high or a big win streak, and how traders overcome that cycle. That’s awesome to hear, I’m trying to build my own boat as well. I'm sorry to say that I am being literal: https://www.bloomberg.com/opinion/articles/2014-03-20/why-do-high-frequency-traders-never-lose-money I wish it wasn't so. [deleted] nice. Well that's the thing. I was mainly trading off of vwap and macd breakouts. But when I was looking over my trade log, that's when I discovered the double bottom setup was there for my most profitable trades. So now I know to make the double bottom setup apart of that strategy. This is exactly what gets me excited for the possibility of algorithmic trading in the future. This guy has a fuck ton of money and knows how to keep it^ AMOG US IN REAL LIFE SPOTTED? Since you didn’t read the article, it is not talking about every trading firm. A very specific set of firms and it only referenced one being on the winning side for 4 years straight. A quote .. “Every firm that is in the trading business seems to make money on trading on a whole lot of days, and lose money on a whole lot fewer days.” Again, stop fucking using the word literally if you don’t know what it means. Edit : I don’t know why people feel the need to use universals to make a point when it isn’t correct. All it does is undermine your point. Seriously, why not say that they make money most of the time. They hardly ever lose money. You could have worded it many different ways without being wrong. Maybe I’m being pedantic but it’s a pet peeve of mine. 7-10 years? Im hoping bonds and etfs? Yeah, maybe I’ll just start building it- or pull together a small team to do it. IDK seems promising actually. It would be really cool if you could pull in sources that you used to inform each trade and then map it against the actual outcome- eventually you’d be able to come up with a reliability rating for each of these. Kind of like they do for analysts predictions already, just extensible. amogus ඞ Some firms do not lose money (like Knight) because they use a different strategy that involves extremely fast access to market data: (https://en.wikipedia.org/wiki/High-frequency_trading) This is one HFT guy who decided to broadcast to everyone that he doesn't have losing days. The other HFT guys are smart enough to keep their mouth shut about it. These are a day traders competitors. I don't mean to offend you or upset you, I'm just trying to make my point so that day traders know who they're playing on the other side of the screen. Highly interested. when the imposter is sus! when the day trader is sus ⠄⠄⠄⠄⠄⠄⠄⠄⠄⢀⣤⣶⣿⣿⣿⣿⣿⣿⣿⣶⣄⠄⠄⠄⠄⠄⠄⠄⠄⠄ ⠄⠄⠄⠄⠄⠄⠄⢀⣴⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣧⠄⠄⠄⠄⠄⠄⠄⠄ ⠄⠄⠄⠄⠄⠄⢀⣾⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣧⠄⠄⠄⠄⠄⠄⠄ ⠄⠄⠄⠄⠄⣴⡿⠛⠉⠁⠄⠄⠄⠄⠈⢻⣿⣿⣿⣿⣿⣿⣿⠄⠄⠄⠄⠄⠄⠄ ⠄⠄⠄⠄⢸⣿⡅⠄⠄⠄⠄⠄⠄⠄⣠⣾⣿⣿⣿⣿⣿⣿⣿⣷⣶⣶⣦⠄⠄⠄ ⠄⠄⠄⠄⠸⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣇⠄⠄ ⠄⠄⠄⠄⠄⢸⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⠄⠄ ⠄⠄⠄⠄⠄⢸⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⠄⠄ ⠄⠄⠄⠄⠄⢸⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⠄⠄ ⠄⠄⠄⠄⠄⢸⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⠄⠄ ⠄⠄⠄⠄⠄⠘⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⠄⠄ ⠄⠄⠄⠄⠄⠄⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⡟⠛⠛⠛⠃⠄⠄ ⠄⠄⠄⠄⠄⣼⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⠄⠄⠄⠄⠄⠄ ⠄⠄⠄⠄⢰⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⡇⠄⠄⠄⠄⠄ ⠄⠄⠄⢀⣾⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⠄⠄⠄⠄⠄ ⠄⠄⠄⣾⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⢻⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⡆⠄⠄⠄⠄ ⠄⠄⢠⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⠃⠄⢿⣿⣿⣿⣿⣿⣿⣿⣿⣿⠇⠄⠄⠄⠄ ⠄⠄⢸⣿⣿⣿⣿⣿⣿⣿⡿⠟⠁⠄⠄⠄⠻⣿⣿⣿⣿⣿⣿⣿⡿⠄⠄⠄⠄⠄ ⠄⠄⢸⣿⣿⣿⣿⣿⡿⠋⠄⠄⠄⠄⠄⠄⠄⠙⣿⣿⣿⣿⣿⣿⡇⠄⠄⠄⠄⠄ ⠄⠄⢸⣿⣿⣿⣿⣿⣧⡀⠄⠄⠄⠄⠄⠄⠄⢀⣾⣿⣿⣿⣿⣿⡇⠄⠄⠄⠄⠄ ⠄⠄⢸⣿⣿⣿⣿⣿⣿⣿⡄⠄⠄⠄⠄⠄⠄⣿⣿⣿⣿⣿⣿⣿⣷⠄⠄⠄⠄⠄ ⠄⠄⠸⣿⣿⣿⣿⣿⣿⣿⣷⠄⠄⠄⠄⠄⢰⣿⣿⣿⣿⣿⣿⣿⣿⠄⠄⠄⠄⠄ ⠄⠄⠄⢿⣿⣿⣿⣿⣿⣿⡟⠄⠄⠄⠄⠄⠸⣿⣿⣿⣿⣿⣿⣿⠏⠄⠄⠄⠄⠄ ⠄⠄⠄⠈⢿⣿⣿⣿⣿⠏⠄⠄⠄⠄⠄⠄⠄⠙⣿⣿⣿⣿⣿⠏⠄⠄⠄⠄⠄⠄ ⠄⠄⠄⠄⠘⣿⣿⣿⣿⡇⠄⠄⠄⠄⠄⠄⠄⠄⣿⣿⣿⣿⡏⠄⠄⠄⠄⠄⠄⠄ ⠄⠄⠄⠄⠄⢸⣿⣿⣿⣧⠄⠄⠄⠄⠄⠄⠄⢀⣿⣿⣿⣿⡇⠄⠄⠄⠄⠄⠄⠄ ⠄⠄⠄⠄⠄⣸⣿⣿⣿⣿⣆⠄⠄⠄⠄⠄⢀⣾⣿⣿⣿⣿⣿⣄⠄⠄⠄⠄⠄⠄ ⠄⣀⣀⣤⣾⣿⣿⣿⣿⡿⠟⠄⠄⠄⠄⠄⠸⣿⣿⣿⣿⣿⣿⣿⣷⣄⣀⠄⠄⠄ ⠸⠿⠿⠿⠿⠿⠿⠟⠁⠄⠄⠄⠄⠄⠄⠄⠄⠄⠉⠉⠛⠿⢿⡿⠿⠿⠿⠃⠄⠄" I'm a student who's been day trading cryptos for the past two weeks. Started with ~$500.,1569,https://i.redd.it/c9ak5axwnyv61.png,"You should make another investment that you just hodl and compare the gains in 6 months. [deleted] How do you find the TA and price action/volume analysis compared to stocks? I have no read on crypto so was wondering how much they overlap Edit: just to clarify, by ""how do you find"" I mean whats your personal feel on how they overlap, not looking for a full on tutorial haha I'm excited to see where it goes. As seen in the last 10 entries or so I've hit a bit of a rough patch, which will hopefully smooth out. The smaller dots are changes in the balance between trades while the larger circles are trades themselves, I plan on changing those to be more legible. Any tips or comments/questions? I'm excited to get into trading. I've neglected to include rollover fees as an entry because that will inflate the number of entries quite excessively. My rollover fees are fairly sparse, as I don't stick to trades for multiple days usually, but my most recent trade locked me in because of my failure to set a stop loss. The trendline is a polynomial regression. My platform is Kraken. Good luck on your taxes. Are there any good crypto day trading subreddits? It’s crypto so this post will get removed, what platform do you use to day trade crypto with such a small starting account balance because I’ve seen some people say they get killed with fees Might have a dabble myself with £500 for some entertainment when markets are closed but I don’t fully understand technical analysis and crypto, it’s hard to track volume right? Pride precipitates the fall. Stay careful ❤️ Great job! I’m in the same boat! Started with $1k in DOGE and I’m at $1615 right now. Trying to determine a good point to dive back in. Bull market. It's literally not had a red monthly candle for 6 months. Not to be a negative Nancy I’m really rooting for you but it’s easy to make money in a bull market. I hope you have rules set for the 🐻 How did you start? What resources about trading do you recommend? How do I get into this Are you studying cross supports and charting for safe entry? What’s your method? :) Nice, I also starting to go hard on Ethereum, but it’s so bullish right now it’s almost not worth risking the small day trades just to make $20 here and there (I’m only invested at about $1500) I’m probably going to stop day flipping it and just let it rest. Nice. I’ve been doing the same. A couple months ago I started with $100, it grew to $126 shortly after so I put it all in dogecoin and it literally skyrocketed overnight lol. I was up to 1k but it’s hovering around $700 right now. Out of curiosity have you worked out how much you’d have if you’d have bought and held just btc a d bought and held just eth? I used to trade whereas now I tend to just stick to a few and hold and add to it. Great work, keep it up! Awesome, thanks for sharing. How do you find coins to invest in, do you use any screeners/scanners? Hey, I'm a student and getting into crypto to day trade too. If you're okay with it can I dm about your strats? I'm just buying low and hodling until they make decent profits. I was doing this for a couple months and thought I was doing really well (40%~ up), until I looked and realised I'd have doubled it if I'd just bought and held. Nice! Ive been experimenting with small amounts of money as well. I turned 300 into 1200 in the last 3 months just buying and holding. Crypto in general is definitely on fire right now Good job kiddo, i'll put this on the fridge. (Ruffles hair) Just Hodl. You will do better in the long run and it will take less effort Come back when you have 2 years of data. No idea what you’re investing in but...I’ve made larger gains in the past 3 days without touching a trade. Edit: basing on percentage here, not value What’s everyone’s thoughts on Safemoon crypto, I’m personally a holder and like it very much and I have seen roughly 20x return thus far. I just want to see what everyone’s opinions are on the topic of crypto specifically Safemoon Look at all those taxable events What's the point of this post? Are you just happy with gains? That's awesome Are you saying you know how to day trade with this limited information? Unlikely at least toss 50 bucks into Pancake swap via trust wallet, get BSC tokens like Safemoon, Happy, NFTART, Paws, SafePizza, buy low sell high. not financial advice, watch out for rug pulls. this will blow your mind. Looks good. Keep it up! You have to do some research on Studentcoin! STC is going big places. One of the biggest ICOs ever just ended this month! I’m excited for this one What platform are people using to day trade crypto? Back in 2018 this was super easy to do because the whales would manipulate the market Just wait for when it suddenly tanks! Saying your a student here is a probably a bit redundant. The R^2 on the plot is a dead giveaway haha Post the updates in two months! What are you using to trade on? Can you give me any resources for the tax implications/ fees associated ? :) Idk why you don’t trade spy options What are you using to keep track for tax purposes? Show me what it’s at in another two weeks. Nice work! What timeframes/cryptos do you usually trade? I’ve been looking into day trading cryptos but it seems like they all move together. Nice try this is just a map of Virginia If you just bought a crypto on a dip and held for 2 weeks you'd probably make more honestly Interested how do you day trade crypto without commissions killing you with such a small account? Nice. Which platform are you using to trade with? For those of you who examine trend lines and patterns, where did you learn that? Self-study via the internet or did you take a formal course (SIE/series 7, etc) What platform are you trading through? What platform do you day trade crypto on? Which app are you on? Been using Coinbase and the fees are crazy town HODL crypto and earning nice staking rewards without the risk Trade stonks with more news and sentiment, easier to read market patterns than decentralized whale pool With crypto day trading I measure my profits not in USD, but in the crypto. If you start with 1 ethereum at the beginning of the month that costs, let's say 2000. Then by the end of the month you end up with 2500. Would this be a profit? Technically yes. But if by the end of the month you only have 0.9 Ethereum when the price is 2800. In this case you lost .1 ethereum from trading which would be 280 USD of ""losses"" or missed out gains that you could have done from not doing anything and hodling. I'm sure that you probably have traded well because those profits are pretty good, but this is what I use as a reference That graph is very misleading because of the scale on the left Let’s talk about what you traded? Lol, it’s going to go down soon, trust me I’ve been trading it for a long time, I’m even mining it. I came to this conclusion it is hard to day-trade with crypto. It is an asset, like gold or house, people who are passionate won’t sell their asset unless they need money otherwise they keep it. People who held Doge for last 3 years now are millionaires, same is true with Bitcoin owners. Stocks, are different you may day trade it and you loose or make some money if you know how to trade. But I have not seen anyone who do a day-trading with Land or house etc. I know people may not agree, it is tough to predict based on stock charts how the crypto will act. I have seen crash immediately after all bullish chart signs and straight upshot, when you expect the coin may be bearish. It is all about how patient you are to keep your crypto and not tempted to sell if you see it drops. Anyone who has profited from crypto will tell you same thing. Not sure may be others have been lucky but for me it is buy and hold. Hey can someone explain to me what I’m supposed to be looking at here? I’m trying to get into stocks and trading too so that’d be really helpful! I have been trading crypto for about a month and I have to say I was skeptical at first but after turning nearly 5k profit I must say I'm hooked new drug if you will the possibilities are endless not quiting my day job as of yet but I will hodl and to the moon all the way to the bank or poor house which ever comes first lol Congratulations!! Keep up the great work!! Which app are you using to do trades? Question for you. Look at the price of ethereum the day you started. If you put it all in eth what would you have today? Either way good job its easier to day trade down to 0. I would be very interested in a monthly update thread on this if you are planning on sticking with it for the long-haul I started with $130 now I am at $750 :D You’re nuts! Keep it up as a third worlder using crypto to navigate hyperinflation, I can totally get where you're coming from. fuck yes team, god bless trading! we're all gonna make it brothers Can you look back at your first purchase order and see how much you paid? How much would you have made if you held that position? Are you paying fees for trading crypto? You know... If you deposit $50 a week then you'll get a nice smooth slope until the market moves. can you share some chart styles like this. Congrats bro. Even though all you have to do is press the buy button this year.. still good gains. Make sure you sell ETH @ 10k What platform do you trade on? What app or exchange are you using??? The reality is that 2 weeks is nothing, wait few months before u deposit more money, good luck What do you invest in for crypto?? Try doing this in a bear run I stared with $10 and now I’m in $50,000 Please report back after one year of trading. 2 weeks doesn't tell anything. Got the tip yesterday evening to move 50% of my daytrading wins into my long term hodls. The other 50% is to generate more profit on my trades :) What strategy are you using btw just curious. Those aren't impressive gains for how incredibly strong this crypto bull market is. Everything is parabolic, you can make 300% in an hour. I just doubled up off doge in a few days on a large 5 digit investment. Solid work though, but don't get overly confident. A blind monkey would have big gains picking crypto in this market. It was the exact same with tech stocks last summer. Stocks only went up. Crypto only goes up. Who do you think started the tech rally and who paid the price. Remember that for crypto. We're just ants along for the ride of the wealth institutions. If I can allocated another $500 that I’m cool with losing, that’s the plan. Exactly this. I have two portfolios, one for hodl in things I trust and see future on and another one for hype, daytrading, scalping and memes Holding 44,586 in doge at 5 cents, when it was up to 45 cents I was like 19k profit. I had a day trade account for fun had a like 5k I was playing with. Not much but still wish I hodl that. Good point I was swing trading and I moved back into holding. If you pick the right coin you will gain maybe more with way less work. Day trading takes alot I love it but I'm holding now. This comment aged well That’s why I only went in with $500. I’m not confident with it, but wanna see where I can take it. so stop losses just stop working out of nowhere? If day trading just ""stopped working"" nobody would do it. I day trade ETH and make over 1% every day Everything in this game goes like that. It’s always an unbeatable plan and theory until it gets beat. There is more than one way to skin the market because there are all sorts of different types of markets. Not just talking about Bull and Bear but all the intricacies in between. There is always a different trend that is hot for a while then it rocks you to sleep and drains you in one day if you aren’t making sure that you have a diverse portfolio and are reading the market based on what’s going on right now and not last year. Hahahhaa it will stop working next year. Wherever you put your money this year you end up with profit in the end I've only looked into it a few times so far but I've got the feeling that crypto adheres very well to simple things like trend lines/channels and patterns like wedges and flags. Fib retracement and standard bullish candle movements have worked for me so far. Only two weeks to be fair. My opinion is its far better in crypto. Almost too easy. Helps that it's in a huge bull run of course. Breakouts are super reliable on the 4h, 1d and 3d (for some super volatile low caps I use 3d). There's less fucking around/liquidity grabs/fakeouts compared to stocks and definitely less than FX. Replying in hopes of seeing the answer Dont asj this question from someone who has been trading for a couple weeks 60 entries in two weeks? You might be over trading, I’d suggest decreasing your frequency and looking for better risk to reward plays. The $47k btc dip jumped to $54k in a day Can you tell me which stocks you have been investing in? Thanks You're trading native coins on an exchange. If you get into a defi exchange you can buy native and bep20 coins that are not yet at this level. The potential $$ after they do come to market on an exchange like Kraken translates to even higher risk/reward. I spent a few hundred on pancake swap with smart bnb. Some of that has multiplied 2x 3x and others are at .000007 each but I've got 4 million of them. Imagine if they're the next Doge? The point is that you are trading coins that have utility in their wallet or in a defi app. These have even more insane opportunity. I have noncustodial LPs staked bringing me more coins by doing nothing. $$ Yea. It’ll be hell. Can you elaborate? What is wrong with day trading Not everyone lives in the USA Depending how young he is it probably doesn’t matter [deleted] If you're looking for TA indicators, I know WeBull has RSI and volume metrics for crypto. I'm finding them useful so far - I would imagine other charting sites might have it too (tradingview?). I use Kraken. **This fee scheme is 0.26% on market orders and 0.16% on limit orders. The fees go down for every $50K of trading volume in a 30-day period.** Because I trade so fervently, I reached that first $50K quite quickly. Kraken's platform is quite comprehensive and pretty easy to grasp and their bookkeeping is pretty good making volume tracking not much of an issue. I use WhiteBIT started last week, it's more like playing with penny stocks since it's the second level of exchange coins to to (PancakeSwap then WhiteBIT or similar platforms, then Binance and so on), in three days I went from 480 to 1700, took out 1000 to keep as profit to play with the bank's money, got fucked when a coin changed to a new version (wasn't included in the conversion and the old version dropped to close to zero) and I'm back with about 400 right now. I use order charts only to buy and sell, barely take a look at the candles to see if there's a lot of fluctuation to decide if I want to try my hand with a coin or not... Use tradingview for TA. Cryptos often follow other markets so make sure to look at Asian, US, Russian market hours. Yep! Favorable conditions to say the least! I’m hoping to observe and learn a bit before is turns on it’s head. Dude this is *day*trading not *month*trading. A red hourly candle is enough to screw it all up. I do. Conditional stop losses for pretty much all trades. I started by watching day-trading related media(mostly YouTube) and taking EVERYTHING, with a grain of salt. I first started trading on Robinhood(cringy as it may be) then migrated to Kraken due to their more honest business practice and preferable fee structure. Don’t just buy and hold you’ll make more in the long run First you’ll wanna find a platform to trade on. You’ll also need to educate yourself a little on price action and what it COULD mean for the immediate future of the asset you’re looking at. there’s a lot of moving parts in trading. It’s complicated and messy. It’s hard to jump in headfirst and not drown and lose your entire initial investment. I started trading on Robinhood, I cringe just thinking about it. Supports levels are a massive part of my strategy, if ETC gets anywhere near $30, I’m usually hopping on board. I also use fib retracement and pay attention to price action looking for bullish indicators I've been hitting Ethereium Classic quite hard. Almost all my gains are from ETC. I find it to be quite predictable with the exception of my most recent loss, but that was due to the crash. Nice! Well done. Kraken has access to like 200 some odd markets. I browse their market overview when looking looking for a new coin to trade. But lately ETC has been volatile enough to trade consistently with big changes. Yea. Volatile as hell, it’s how I’ve made what I have so far Thanks!! Are you proud of me yet?? Can I have my bike back?? Also there a party on Main Street the weekend and I NEED to go. Planning on it. Costs nothing to post, so I’ll be updating. Just curious. What scored you ~48%? No. My plan is to post an update every two weeks(if the mods allow it). I just think it’s cool to show my gains/losses over time and what that looks like in a more comprehensive format. I do plan on changing up the chart to be more detailed. That’s some scam shit safemoon is ass safemoon kekw pyramid scam coins for charts check BSC contract adresses and paste in poocoin charts or bogged finance. Ohh, I forgot to mention the $ASS token. haha... Might as well buy scratcher lottery at that point I’ve seen a lot of people lose more money than they gain. I guess you can get lucky but like I said I use Kraken. I looked around and I liked their platform the most. Reasonable fees was the biggest driver. I hope to! If I haven’t blundered it. Lol. https://support.kraken.com/hc/en-us/articles/201893638-How-trading-fees-work-on-Kraken This is the official document on Kraken’s trading fees. As for taxes, crypto is filed under capital gains. Kraken logs all trades in your ledger. But additionally, I log all gains and losses in a spreadsheet as well as a physical document. Planning on it! Was thinking a bi-weekly update if the mods will allow. I’ve been trading a lot of ETC (Etherium Classic). When it comes to predicting movement I usually look for an opening in the 30m-2hr window, but will confirm price action with the 4hr window. It is... isn’t it... well shit... Possibly. I get bored though.. I’m having some fun and makin a little money. Kraken more or less rewards trading in these amounts. 0.26% market fee, 0.16 limit fee; and they both decrease by 0.02% for every $50K of trading volume. Kraken. I chose it because of its fee structure and informative interface. Self-study via the internet. EVERYTime I read or see a new “indicator” I ALWAYS, test it on previous price action, never in a real trade. Kraken. For its fee structure and informative trading interface. Kraken’s fees are 0.26% on market orders 0.16% on limit orders. And they decrease by 0.02% for every $50K of trade volume in a 30d period. What? That’s the only reference point... Just read... ETC, ETH, and one trade of BTC. More discounts? My bots gonna go wild Kraken The answer is 62.9% if I had bought and held two weeks ago. My gains as of now are 58.1% Definitely worth it in this case to just buy and hold. But I’m more comfortable with trading, as it allows me to profit in a bearish timeframe. As well as short, only because holding a short position accrues rollover fees and can quickly add up. Where do you day trade... Are there restrictions? Possible. Just difficult. Short time! Planning on bi-weekly updates 3% take profit : 2% stop loss - 2-5x leverage. I’m not bragging. Merely reporting Do this when you get to 1000! Split it up If you can’t work out how to test this theory without actually holding the position, then you’re in the wrong game. As to the person who suggested it, you’re in the wrong game... Use paper trading account (not real money) Once you double your money, just pull out your initial investment and use that; that way your long hold is ""free"". which is going better? I’m not sure what you’re referring to? Hell yeah doggie, that’s what I’m doing. I put a “fund” together which if it all goes to hell won’t have any effect on my daily life, but if I do it right, will enhance it down the line hopefully. Not talking “moon lambo now” but some healthy gains to eat tendies later. Everybody should be like you. Put what you can loose and start small. so like, what were your moves? Average down for the next 10 years no cap That's the way to do it What platform do you prefer for ETH trading? From what I see on twitter this appears to be the case. As someone who mostly replies on VPA it makes me hesitant to try trading crypto Hmm makes sense, its fundamental valuation is almost wholly dependent on the infusion of capital, having no real intrinsic value (to my knowledge, maybe a cryptobro will explain it better haha) I noticed this too, moved to crypto and my TA just worked so much better and had I taken positions I would have made decent profit Gotchu, keep up the good work and keep updating Interesting, thank you. Yea I was thinking this might be the case as its fueled pretty much only by capital, no intrinsic value, I dont even think theres ""market makers""? Unless you count the whales and the companies who have invested in it. But yea, not really any market neutral forces to counteract the natural movements of buy and sell. I was looking at the charts yesterday and its like all top 50 cryptos were sort of similar trends . Went either up on the 26th or 27th. It was ridiculous I mentioned it in another comment but by betting on high volatility tokens with good volume I just had to follow the order book to transform 480 in 1700 in 3 days last week. Find a buy price with huge volume and bid a bit higher, find a sell price with huge volume and bid a bit lower, rinse and repeat. So you need to have access to a lot of numbers in the book, WhiteBIT is good for that on mobile, not on desktop (22 less entries), HotBIT is good on desktop, not on mobile (only 8 entries). Last week was also a very good week for that with Dogira, SFC and SFM becoming available on exchanges, this week I'm pretty much neutral so far. I don't like doing it on PancakeSwap because of the fees and it's not clear how much you'll get for what you pay side it's not a set price but purely based on demand. True, didnt really check so I thought since he was in this sub he had been daytrading stocks for a bit. Would you have any insight? What's wrong with that many trades if it yields profitable results? I believe the actual number is about 30. I'm pulling these numbers straight from my account ledger. It logs pretty much anything that causes a change to my balance including order fees. So about half of them should be changes merely caused by fees. It's a poor format I admit, I'll look for a way to change it. Regardless, I agree with you, I do trade too much. My scheme as of right now looks a lot like a staircase in terms of gains. Small-Medium short-term gains repeated. 60 trades I two weeks isn't that much for a day trader. I could take 40 trades scalping the ES in two weeks and that's on one futures contract this guys got 1000 stocks to pick from Mostly Etherium Classic. Do you have a rec for a defi exchange? You can trade cryptos in any country. I don't know the full details myself but if allowed I think it would be beneficial to open an account in another country that has lower tax rate on crypto gains. There are a handful of countires that do not tax cryptos at all. You lose roughly 40% of profits to tax off every trade so if hes constantly losing his profits day trading come tax time he could have a hell of a bill Here's a sneak peek of /r/BitcoinMarkets using the [top posts](https://np.reddit.com/r/BitcoinMarkets/top/?sort=top&t=year) of the year! \#1: [Today's GME drama shows a huge value of Bitcoin, and crypto in general](https://np.reddit.com/r/BitcoinMarkets/comments/l797ha/todays_gme_drama_shows_a_huge_value_of_bitcoin/) \#2: [I created a series in Python that takes you through every detail step-by-step (code included) on how to create your own algorithmic trading bot that trades the financial and crypto markets for free.](https://np.reddit.com/r/BitcoinMarkets/comments/libal3/i_created_a_series_in_python_that_takes_you/) \#3: [I coded a bot that buys Bitcoin when Elon Musk tweets about bitcoin and open-sourced it](https://np.reddit.com/r/BitcoinMarkets/comments/ma0g8i/i_coded_a_bot_that_buys_bitcoin_when_elon_musk/) ---- ^^I'm ^^a ^^bot, ^^beep ^^boop ^^| ^^Downvote ^^to ^^remove ^^| [^^Contact ^^me](https://www.reddit.com/message/compose/?to=sneakpeekbot) ^^| [^^Info](https://np.reddit.com/r/sneakpeekbot/) ^^| [^^Opt-out](https://np.reddit.com/r/sneakpeekbot/comments/joo7mb/blacklist_viii/) I’m UK sadly so can’t use WeBull, their platform looks amazing. There’s volume and moving averages on TradingView I’m just unsure if they mean the same for crypto as they do for stocks Thanks man, maybe I will give it a try. Out of interest what are you using in terms of TA when trading crypto? For stocks I use stuff like MA’s and volume but is that so relevant for crypto or is it more just price action [removed] What were your biggest plays? What are some trustworthy strategies for dreading during a bear market? This answers the question I posted earlier. Does Kraken have free trading? did you sell? Lol no offense op but I just think it’s hilarious you get 900 upvotes for such a small sample of data. You clearly understand data (judging by your graph) so I presume you understand this. To me it’s just indicative of how the vast majority of people in this subreddit are very junior readers who really have no idea what’s happening. Ie they think it’s impressive when they see someone win for like 4 days... I do my best not to shill. Just aim for NFT or DeFi and sit on it...you’ll come out ok That would be interesting to see potentially. Especially if you are adding details on why you made trades Thank you! More power to you then. Fun isn't usually free or a money maker so that's a plus. I do the same with stocks, have ones I hold but enjoy the daytrading, well not all days haha thanks for the response :) I live in europe and I use kucoin for crypto no/small restrictions in europe tho Which coins would have out performed using a buy and hold strategy? You'd be the first one to keep that up for a year. Most of the people here only manage that for a couple of weeks. Good luck, I'll follow your progress with great interest. What are your indicators? I use BB + RSI right now. Has been working well 12% with 4x leverage. But alot of people say its bad so just looking around now. I see, well keep it up and don't trade with money you can't aren't prepared to lose. 👍🏻 This is a great idea Have you considered taking out your initial investment and using other people’s money? Yea. I could test it artificially, but to be honest I’m not super interested in long-term investments right now. Later on it will basically be a requirement, but for now, I’m more comfortable with trading actively. Are u trolling? 🤣 Nah. That will significantly impact my gains. If I do another investment it will be sourced from work. short term, but there is also more risk in it He just posted an update a few hours ago where it shows he blew up his account with Ethereum shorts THIS GUY GETS IT. Makes you disciplined to not overtrade either. I’ve been doing a lot of hitting coins when the meet their support. For example ETC hitting $30. That’s a great buy in for me, made decent change on it. Normally Binance, but I’m in the us so I use kucoin which is basically a clone of binance. They have the best fees and market orders get filled instantaneously and I’ve yet to experience any slippage more than a fraction of a pennies amount of coin VPA being volume price action? Yeah makes me wonder why I even bothered trading futures they bounce around on news, earnings, fear and greed. I need to learn about this order book process Yes but you dont want to hear it. Trading is impossibly hard and you should prob just quit. There are many easier ways to make money. It is harder and takes more work than you can imagine to do it as a career. All this easy money simple strategy crap isnt reality. It took me years to develop a good strategy I could actually trade and it takes years to master it along with all the psychological hurdles. You are likely invest years of your life and come away with nothing. The time and work Ive put into trading I could have easily gotten another college degree and it would have been much easier. Thank you. All that trading on one stock? Over that short period? How does that work? (Sorry for my newbieness) Start with a wallet like trust wallet. Then create an account. Inside of trust wallet you can automatically connect to pancake swap. I'd recommend pancake swap Also once you have maybe a few hundred to play with get into eGLD. You'll have to buy it elsewhere (pancake as BEP20, then convert it into a native eGLD coin, then send it to a Maiar wallet) coins like UNI, CAKE and EGLD are exploding because the coins can be staked for more coins. It means they're not trading. 67% of egld is staked meaning all of those shares are being held. I've learned in my short experience that ethers network fees are silly so stick with BNBs network. Thank lord I’m Canadian and don’t have to deal with that shit Doubt he's going to be in a tax bracket anywhere close to 40% on capital gains. The losses offset your taxes, you will never owe more than the total profit you made. At a 40% tax rate (seems high): If you win $100 today and lose $90 tomorrow you no longer owe $40 come tax time, instead you owe $4. That's not how it works Well, technically, if you’re still holding on a platform — say voyager or pro Coinbase, technically- as long as you do not convert back to bank account — transferring the gains to dollars—- as long as you’re snow balling / + trading without cashing in —- even if it’s with different coins throughout — isn’t it (portfolio balance ) therefore capital gains long ? If you’re doing this for a solid year without cashing back into bank account? Don’t get me wrong, the piper will get paid— but if you’re a scalper or day trader, making 20 trades a week, on a platform like voyager with no fees, you literally can trade and trade and trade.... and thus, grow your portfolio with gains. How can they tell it’s any different than holding , say, 5 Ethereum for a year. Once you cash out, it’s cashed out. And the bank shows the transfer, and thus, the taxable income. Feel free anyone to chime in! This is pretty new territory tax wise for a lot of people. Cannot stress enough how sound binance is. It’s the worlds biggest exchange, it’s safe as hell, the fees are low and really transparent. I’ve traded £10k to over £24k in the last few months. There’s access to leverage for people with a high risk tolerance, staking opportunities, good technical analysis tools etc. Plus they have a massive range of coins, hundreds more than places like coinbase. Any questions let me know, I’m a uk trader who’s tried a few different exchanges and have settled comfortably on binance. You can whip your cash out in less than 10 mins, which I love. Obviously they do... Its just moving averages Crypto is perfect for technical analysis (let me explain that before you downvote me). Most of crypto money is new, so the idea of these newbies really having an understanding of cryptographic process’s and which coin has more utility than the next is silly. Everyone is kind of flying blind. Fundamentals kind of go out the window, there’s no earning reports to worry about, cash flow analysis P/E ratios. The entire price is driven by market sentiment, and the entire market doesn’t have a clue what it’s doing. Yes this drives volatility, big panic sell offs, big rallies but this volatility is the price you pay for performance and for a decent trader it’s what provides us opportunity. I find TA to be much much much more successful in the crypto sphere than in the stock market due to this new money acting more predictably. There are a few things to get your head around though, the btc halvings and the hype cycles that come with it etc. But if your trying to use TA to trade an asset, trading an asset that has averaged well over 100% a year (BTC) for over a decade is a pretty fuckin epic opportunity. I know people hate on it, and I did for a long time. But I’ve made more money this bull run than I have the last 5 years trading stocks fairly successfully (20-30% annually). Fib recursion seems effective. Bullish candle patterns are prevalent as well. Also if you change your name they'll lock you out of your account cause you can't ""prove"" your new identity yet will offer you your account value in KFEE(their own token which can only be used to pay trading fees) on a new account... Not to mention the time they went down for ""server maintenance"" for 3 days while I had open leveraged positions I really needed to exit. Ended up missing out on $1000 of profits and barely exiting my position in time to avoid losses. Only reason I ever used Kraken in the first place was cause they bought the out the exchange I was originally using and after 5 years had enough bad experiences that I switched to Binance. One of the best trades was one of the last spikes before the most recent crash, cleared 16% in 23hrs Kraken has: 0.26% fees on market orders 0.16% fees on limit orders And both of those decrease by 0.02% for every $50k of trading volume in a 30d period. It rebounded and I cleaned a VERY small profit. Mostly mad about the opportunities I missed because all my money was wrapped up in that bad trade. Understandable. Definitely plan on posting frequently and making the graph more digestible. I can try to do that! My most profitable trade was made after a minor crash, based on previous behavior it was destined to rebound, I was right and cleared 16% No problem! Best of luck in your future trades. Yea. The last 5 days for me have been rough. Best of luck to you! https://m.youtube.com/watch?v=67h8GyNgEmA MACD, Volume, RSI. Basic trend lines and price-action other people's losers are my winners and thus the money is rightfully an morally very much mine I've bought and held crypto for the past 2 months. Started with $300 and now I'm just over $580 (it was $640 before btc dipped). The point is comparing your performance against just holding. Are you beating the market? When you lose are you losing big? You’re constantly trying to catch a falling knife Not at all, 23 upvotes would suggest not either. Ah that’s a shame. HODLing usually wins, especially with crypto. Trying to predict a market that can drop by 15% on an Elon Musk tweet is just asinine tbh. Hell ya me too. Jumped in for ten of those and got a nice chunk brewing Thanks! I’ll check out kucoin. Volume price analysis I think in terms of crypto, BTC is getting close to being part of the regular news cycle and this has at least some effect on the momentum. Fear seems to be non-existent though lol, theres so much confidence in it right now. A year ago, they said it could reach 100k and I was pretty skeptical. Now? Not so much, it was already pretty close at its peak. Since crypto mostly run based on demand more than fundamentals you just watch the size of the orders at different prices, if you see there's a big difference between two prices with an unusually large amount of orders on the buy and sell side then you know the price will probably fluctuate between those two prices so you buy for a bit more and you sell for a bit less. In the attached image I would have tried to buy around 0.009850 and to sell around 0.01490, that's over 6% profit, if I felt adventurous and there was good amount of transactions happening it would have been 0.00944 and 0.010640 https://imgur.com/zB3qX6Z.jpg Obviously you need to be involved and to watch what's going on and you're better off with 5% profit vs losing because you thought you could get 10% but didn't... I was also going all in all the time so I became the guy who was setting the floor and ceilings on certain coins I was trading, which can be risky because others are doing exactly what I was doing... I just meant on the crypto, but I understand what youre saying. I definitely have these doubts about myself. Ive been good this past year though, just slowly scalping away off price action and volume since I started back in June. Works for me, not looking to make exorbitant amounts of money, and I will have the scale of capital to my advantage in about a year. Keeping it simple, and getting a consistent 5%-10% weekly gain from a 70/100 trades success rate is enough to profit millions after a few years, and is certainly achievable with the right scaling and risk management. The way I see it, it's a statistics game, not a probability one, as the thousands of stocks available will move up or down at least 1% multiple times a day, across the board. Even if it takes thousands of trades, its only a matter of time, as long as you read and anticipate the momentum. Bc its not about a strategy for me, its about the structure. A strategy will get you from point A to point B in a particular way, but only that way; the structure is the mechanism of the markets as a whole and Im just looking to utilize its bulit-in consistency, as it takes out most of the guesswork. But hey, if im wrong and blow up my account, Ill let you know. I appreciate the insight, thanks It took you years to develop a good strategy? And it took you years to become disciplined enough to follow the plan and cut out impulses? Were you doing it consistently or was it something you worked on once in a while? It’s crypto not a stock Basically just comes down to being somewhat lucky and timing the dips. Buy low sell high lol Thanks! Jealous. idk the exact numbers its super hard to find info for it in my country but that's all what they roughly suggest We pay only capital gains, right? And if you're doing it as an individual, you're only taxed at 50%? Please no one take this as fact. I'm asking. I'm new to this and could be very wrong. Thanks this was the clarification I was after Gain of $10. 40% of ten is ... {just to spell it all out.} Care to explain how it does instead of leaving and empty useless comment? Depending where you live they take x% of your Total crypto earnings where i am is up to 40% idk exactly how it works because the guidelines are so unspecified for my country From what I have read and been advised, as soon as you “sell”, it becomes a taxable event. You do not have to transfer the money to your bank account for it have capital gains tax implications. I have been wondering about this myself. It just almost seems too simple, but then as you say you only get taxed on what you cash out so how can they tell you've gained via trading the actual coins themselves if it never turned into fiat? And surely even if they do this/start doing this, couldn't you just convert to a stable coin like USDT, hold/stake that for a year, and then cash out? I already use Binance for buying my crypto investments anyway so it’d be easier to use them, thanks for the heads up mate Can I just briefly ask what indicators you like to use for crypto trading? EDIT - nvm just seen your other comment, legend Yah that was kinda epic. Which cryptos did you get into? That's 2-3x what you'd pay on binance, which is 0.1%. Discounts for limit orders, paying using bnb token, vip trading volume, referrals. Fees add up if you're going in and out of a lot of trades. You as well! haha exactly I started with $500 in crypto. I’m up to $6000. Well in that case, honestly, let these guys gamble their 500 usd without gatekeeping. The original poster is enjoying his new hobby and is thinking about using 500 more as a fun experiment. Leave the poor kid alone. 🤣 He's just paying his tuition bill, gotta be done It works perfectly, why would it be an issue? Just make sure to look at the highest volume exchange for that pair, which is usually Binance. Crypto is almost purely technical since the fundamentals are so sparse. Although I'm not sure how you can use VPA without support and resistance. If you're doing this, the don't do it with just the coin you're primarily trading with. Always keep an eye on the BTC orders as well. Right after big dips, most coins mimic the BTC candles (exceptions are there like ETH), your order book might show huge buy side numbers on a coin but suddenly if BTC dips even a little bit more, most of those big buy orders will disappear in the blink of an eye and your coin is now dipping 10% cuz ...BTC. This is just my observation, always do your own research as well for those looking into this. WOW, I really appreciate the in-depth reply. So this, if I'm not mistaken is more of a scalping strategy using the order book, right? I haven't gotten there yet. I'm feeling pretty confident with price action using TA, candle sticks and some indicators. I'm now learning volume analysis, and volume profile. Order book scalping is next, and then order flow....order flow looks like such a mysterious thing to me, but I'm sure it will make sense in time. Scalping makes people lots of money if they are quick! Ok, I think I see what you are saying, but want to confirm. Because there are 67k bids at .009853, and more bids below that price, you'll buy slightly higher for an entry, and then sell at 0.010490 because the first significant ask wall is at 0.010496, with an ask wall of around 69k. so you under cut the bidders and askers for small differences in the spread where there is little to offers, then take your money and run. By my calculation you would need to by and sell 100,000 coins just to make $64......... how much are comissions? Sorry misinterpretted. Tips for crypto? I only go long, short term trading. When we are the bull market that has come around every couple year or so. Patterns that I found an edge for are symmetrical triangles and what wycoff called a spring. But still takes skill. Also, volume is better in crypto, look for high vol on dips. That's a strong sign of accumulation, doesnt work in stocks because transaction volume is made up of so much hft, etc. Again takes practice and skill. On a typical back2back, how much time would elapse between a buy and a sell? Your kindly response would help me gauge my process Thsanks Here if you active day trade you just get hit with your normal tax bracket, otherwise it’s just capital gains. So normal tax rate on 50% of your gains. Trading in a TFSA though, 0 tax on gains 👌👌 Happy to help Why don’t you google and let us know instead of bullshitting out your ass to begin with. That’s correct ( for USA). Even converting between different coins generates a taxable event when there’s profit made in the exchange. I tend to run off of RSI, MACD, trading volume, bollinger bands and horizontal (minimum 3 point) support or resistance bands. Oh and triangles formed when price stables out seem to be a self fulfilling prophecy. Tends to cause a breakout, but it’s on a dime which way it’s going to spin. There’s also EMA’s and SMA’s but you get to a point where too many indicators don’t really help. BUT if your monitoring enough coins, you can find really strong buy or sell signals when multiple indicators are all telling you the same thing. My main advice would be, don’t trade out of boredom ever, be patient. And ditch sloped trend lines. They’re far far too subjective and can be shifted around to fit any narrative. It’s all a bit hit and miss but in the crypto sphere, there isn’t much else to run off than TA. So like I said, it kind of ends up as a self fulfilling prophecy. Enough people trading off the same signals leads to predictable market shifts. Etherium Classic mostly. Dabbled in ETH and BTC. Fees are what are holding me back from day trading crypto. Thank you for the info! Nice ROI. Started with 10k, at 33k now. Would've been 200k if I held DOGE and SOL. Sold DOGE at 0.014$ and SOL at 4$ good shit. Shitcoins don't seem to follow any kind of BTC logic though, I might be mistaken, in pretty new at it, all that I know is that I've got 500 free dollars that appeared in my bank account in 3 days and I'm not playing with my money anymore 🤷 Honestly I just went it blindly with what seemed logical to me and it worked, I didn't even try my hand at analyzing candle charts or anything because I think it's too easy to just find patterns everywhere so I don't really believe in that, people see flags forming but when nothing happens they just stretch the flag until something happens and it fits the narrative, you know? Didn't even know people call that scalping! You need to think of it in %, the first ask wall represents 660$ or so, so this coin doesn't trade in huge amounts of money but 6% out of 500$ is still 30$ in a matter of 15 minutes sometimes! On other coins I was making 200 in gain out of 1200 in one swing! WhiteBIT is 0.1% and HotBIT 0.2% but WhiteBIT is at 0% for the first two weeks of new listings and HotBIT redistributes some of the profit if I understand correctly. No worries, and thanks for the tips. Ive just been weary of trading crypto bc it seems so unpredictable to me. I guess its the mystery of how it generates value apart from just pure infusion of capital and the natural movements of buy and sell, with no market neutral force to counteract them (unless they have ""market makers"" now?). But yea thanks for that insight, ill probably try my hand at it with a few bucks just to see how its movement differs from stock. But man, when they said last year BTC could reach 100k, I was definitely skeptical. Now, not so much lol Imagine being able to HODL Cryptocurrency in a TFSA. Would be insane. If you actually looked it up thats what it says for aus you genius🤣 no bullshit crypto taxes are incredibly new to the general public over here, hence why i asked him if he actually had anything constructive to add to it. In aus the tax laws are so loosely defined for it but hey if you can find something that states the actual rates at which you get taxed feel free to link it. I have googled it but hey keep making assumptions bud Well what are the aus rules 😂 so frustrating I want to try my hand in day trading but need to understand the tax implications first Oh ok. Imagine the gains if you had jumped on XRP, MATIC, MANA etc during that same dip. It's just another thing to consider. If your fees are 0.1%, you'll effectively pay 0.2% for going in and out, so your break even point is at +0.2%. If you're consistently making +1% a trade, that's not a big deal. The biggest challenge is still knowing when you're wrong and when to stay in. Don’t beat yourself up if ya are. No one knew doge could blow up to 0.50. 23k is great profit. Dont be so sceptical. Test out your theory. Invest in a good coin an X. Lets say $100- $1000 and leave ot there for 1-3 months and see what happens ( i recommend top 10 or top 20 coins) Ill prob do as you said, I did it for Doge in Jan (lol who knew itd get this much meme-mentum), but I dont really have a theory for crypto, like I said its still a mystery to me🤷🏻‍♂️ Everything I said above about statistics and structure was for stock scalping Try some better coins this time. Coins that have use cases and they are unique in some way. Vechain is one of them and it will continue to exist even in the bear market. I wish i have bought some at $0.01 back in 2018. Just check at the charts and the prices in 2018 and compare it with today and you ll see what i mean." My 1 Year Anniversary of Full Time Day Trading. 3 Years In The Business. What I Wish I Could Tell Myself Years Ago.,1524,https://www.reddit.com/r/Daytrading/comments/j3zlqi/my_1_year_anniversary_of_full_time_day_trading_3/,"Thank you for the great read. You are consistently one of the most helpful posters here. Thank you! Thanks for posting this. I'm 8 months in now, I am quite a bit more stubborn than you in the amount of time it takes for a lesson such as your NFLX one to stick. Congratulations on getting to where you are. A few lessons I've learned from much larger losses - do not add to losers - do not trade full size in pre / post market ever. - be patient with your system - obey ""walk away"" rules (mine are based on x amount of losses in a day in a row or x amount $ gains for the day) - take a day break per month (addiction check) - accept a loss for what it is and move on, same with a gain (I get fixated on a ticker) I've never heard it called decision fatigue, but what you describe I experience. Especially after a drawdown. I'll check out your lost history, cheers again. Great read. Can relate. Discipline is like half the battle. Thanks! Can’t wait to see the website! Helluva read. Thanks man! 🙏🏽 I haven’t read this post yet but I actually have your 2 yrs trading post bookmarked and I went back to it twice! Great info on that one, I’ll comment again after I read this one probably on the weekend- thank so much Well met! My journey into researching the realm of day trading has serendipitously brought me here before you today. I Thank thee, Data Goblin Master. I kneel before your words of wisdom. May your virtual edge stay sharp and your strategy true, M'Lord! Thanks! Preach brother. Great post. Printed for my binder of articles related to trading/psychology to keep me motivated. Fucking hero. Great and insightful post. Also a previous oil analyst with one of the big 3 service providers. This post would be a perfect read for someone starting out to avoid the harsh pitfalls that first year of losing money trying to find a holy grail strategy to constantly have green days. Once I got it into my head that I don't have to be right on every trade it made life much easier as statistically the trading plan was going to be profitable. I'll have to check out your other posts, keep up the great work! Wow, what a read. I have 2 things to ask, but first I need to lavish on the praise. I don't think I've read a reddit post this long in ages unless it is in certain subs like r/legaladvice. Your writing style is compelling, and it was very well organized. Thanks for the quality content. Here are my questions. 1. You had the question about what you would tell yourself back at the start. Frankly, I was hoping to see either, ""stick to the 9 to 5 until X (or forever)"" or ""this is definitely the way to go!"" So, was it the way to go? Did you make the right choice with the right timing? Can you see yourself doing this week in, week out, for decades to come? 2. You strongly emphasize data analysis, and I love it. There are two halves to that, knowing WHAT works and knowing WHY it works. What are your thoughts on a strategy based on what without why? Contrived Silly Outsized Example: if I place order X at 10:02 with a certain OCO, it has a nearly 100% win rate with a Sharpe of 1.3 when backtested over 5 years. I don't really get why it works, but it apparently works. Would you trust the contrived example? Or no, because the WHY isn't analyzed and understood? (In other words, you can't precisely know the risk factors or what causes the small losing percentage.) To paraphrase, what are your thoughts on dart throwing / blind strategy selection ok if it apparently works? Wow man, I read these posts and subreddits all day but rarely take the time to comment. Had to take a sec and write something here though. This was one of the most profoundly sincere posts I’ve read in a long time on this subject. Thank you for taking the time to share your thoughts with us. 7PM CDT happens when this comment is 5 hours and 55 minutes old. You can find the live countdown here: https://countle.com/9GaTenubl --- I'm a bot, if you want to send feedback, please comment below or send a PM. Thank you for this information, and congratulations on your success!! I always enjoy reading your posts and the insight you give on trading. Thank you Thank you for the info. I will apply it to what I know and am learning to one day trade for a living myself. Keep up the good work! And congrats on one year for you! Enjoyed the read buddy. Interesting coincidence that my other interest has been pulling me towards Texas. Tip #7 is serious. I get this one AD on youtube that i absolutely HATE: “Wait, you really think you can learn to trade watching YOUTUBE videos?” Absolutely hate that fucker. Every time i heard it made my confidence take a hit. Hey brother thanks for this! Louisiana here. About 12 months in trading small.. and still fighting the large losses wiping small gains lol. Wish I could trade my web dev skills for a portion of what you already know. btw WordPress can work just don’t use a bloated theme with too many extra plugins :) Thanks for sharing. As someone who is in his first year of learning and is losing some trades and having drawdowns along the way, this is the kind of posts that really motivates me to keep going. Can't wait to see that website OP! Great post. Fabulous read. Thank you for taking your time to do this! Awesome stuff to read as a rookie paper trader. I'm a data analyst by trade and looking to learn more about trading fundamentals. You mention time and time again about your strategy and why not to deviate. What were some early on steps you took to define your strategy. I'd be looking for your best advice for testing and defining my strategy. I really hope you dont delete this Thank you for your imput Thanks a lot What's your options contract price with TDA? I've only been trading options for a month and and I'm a big fan of TOS but $.65 per contract is way too high and completely eats into my margins on options for lower priced stocks. I've been told I can get it lowered to $.50 but even then that seems too high. Hey boss, are you on stock twits? Would love to follow you there Nice bro! 4 yrs into this and I came to some of the same conclusion. Thank u for taking the time to post this! ""Learning from what not to do"" hits hard! Thanks for sharing your story brother. Thanks mate, great read. A reminder to return to basics, and forget all that other crap out there 👍 This is great. Really appreciate the candid insight. Good luck in the future Great post, I appreciate the inline screenshots for definitions. Re: Point #6 and FAQ #6 Not to ask a question about to do something exactly like you wrote, but when you're backtesting your strategy to calc the stats for it, is there a style of backtesting you do, like is there a specific date or stock you trade on, or is it basically 'go back a random number of days/months and pick a stock'? I don't think you can use scanners retroactively, so I'm not sure the best way to get started on this. Just starting out paper trading and losing small money on the side lol. Thank you for your time in writing this up and posting it it was a good read. I’m glad that the first book I bought was the one you thought to be the best maybe I’ll stop with that one book. You saved me money with that tip alone. Fellow Devil Dog here! Again, appreciate your time and advice. Take care! Good read thank you How long did this book take to write? \*Asking for Michael Crichton\* Lot of helpful tips here, appreciate you sharing. Perked up when you mentioned Trade Ideas. Do you still use it despite the bugs? If not, what do you use to set your screens? For beginner traders in paper accounts, do you think there's a less-costly substitute? Awesome read, a 15 year old intermediate trader thanks you. ☺️ Man that was a good read thanks for the insights [deleted] Thank you for writing this up brother! Great read. >ProTip #10: Risk management is 24/7. I have yet to read a trading book that discusses risk management in detail, yet it is THE MOST IMPORTANT PART OF TRADING. No matter how good of a chart reader you think you are, without risk management, you'll always be screwed. I live in Texas too, you're living my dream! I'm working on it. Great content, thank you. I read your previous post back when you wrote it, and it motivated me to pick up that book from Andrew Aziz (yeah, it was alright) and start to take this a lot more seriously. Need to refine my strategy further and practice more in live trading, but I hope to quit my main job within a year and go full time on this. I'm a software engineer by trade and long term, hope to also build out some critical tools for traders. Thanks for dropping nuggets and motivating me! Thank you for your time writing up this master piece. Just a few days ago I've decided to really get on it to learn day trading, hoping to go full time in the future. I enjoyed reading every bit of your 'real' experiences and tips which I also find it hard to get else where in the world of internet. Awesome! Thank you very much for sharing. CJT2013: the gift that keeps on giving. Thanks for this elaborate post. I hope to be as valuable to this community as your are one day. After more than seven months of paper trading and statistics, I'll finally be going live this Monday. Very excited about it. u/CJT2013 Thanks for the post, learned a lot compared to many other posts here. Could you give me some advice on how I can learn all the necessary steps to build a full strategy? I'm currently collecting data and it just seems like there are a million ways to approach it. Like, what is the main calculations that are important? Or, how do I determine which data is more important than the other, after I collect all the data? I have been trying with all my heart to find a ""how to guide"" with all the steps to creating a strategy from scratch to trading it. Have you come across such helpful guides or do you maybe intend to create one? Any inputs or experiences (from anyone) would be greatly appreciated! Great read. Statistics definitely give you an edge. Thank you for your service to this country. Great post, I appreciate the advice 🙌 Great post. I'll read some of your others now. I'm so glad I got to read this! Thank your for your insight, you won't believe how valuable it is. <3 I'm starting myself as day trader, ive read half of this thread (will finish later) and its been helpful need to finish it off! aswell as going to your year 2 thread! Alot of information on the internet some useful others not so much. Thank you for all the effort you're putting in because it really helps people like me out. I do have some more questions regarding trading from the UK! Wow! Awesome write-up. Thank you for taking the time to lay all of that out. Really put some things in perspective for me. Thank you. That was very insightful and grounding. Damn [deleted] This was an awesome read man! Thanks so much for posting. This is a fantastic piece you’ve written - I truly appreciate it. It’s so very thorough & thoughtful it allows the reader to really “dig-in” and see the professional trader’s job (yourself) as it really exists. (No Lambo in the driveway. )I especially appreciate the sharp ratio & R numbers instead of a % Return — I’m going to follow your journey. Again, that’s for taking the time to post this. On the road myself, love the updates, have a great weekend m8 👍🏽👍🏽 Great read just like your last update! One quick question though. I was actually looking at tradeideas for a pattern backtesting software. If you wouldn't recommend it, are there any solid alternatives that you've found? Thank you, for taking the time to write this. It hit home on many levels. Wonderfully written. May your future trades continue to be fruitful. The best post I read about trading. Very inspiring and motivating.Thank.you!!! Thank you so much for your excellent summarization of your trading career thus far. Aside from experience , one of the most valuable things new traders can get is the lessons from those who have been doing it for a while. Thanks for the post fella. Even though I don’t participate, I like the read. Do most day traders do individual equities? And no options? I honestly couldn't thank you enough for this post. All of your effort and dedication to the craft and this business is truly admirable. I'm AD Navy and I've heard the whole ""million-dollar net worth"" so I figured I'll see what it turns out like when I get my business off the ground. I've been trading mostly everyday this year, with a goal to finish the year with money in my account. I've tried to compile my trading data, but my skills in excel and word need polish. Do you have a program that you use to keep track of everything, or should I take an excel course to figure it all out? How much you actually made the past year? Not directly related to trading, but what are the specs for your PC build? Awesome post. Thanks Nice one! I'm 28 right now and already tired of my professional career, hopefully, I can quit and trade full time soon. Thanks for your story! [deleted] You da man CJT!! Awesome post! you hit the answer on the head. There is no magic trick, stick to one plan and let it build. Thank you Great post! What tools do you recommend to start researching and backtesting strategies? I learned to trade by going to OTA those who know it will know the acronym, for those who don’t it does not matter. Pardon my English, outside of OTA you are one of the realest traders I encountered in quite some time. Your article is engaging and well thought through. Your understanding of risk rewards tells me you will succeed. I am aspiring to turn it full time. I learned quite a few strategies stock, options, futures, and took me 2 years to get to the point where I’m now consistently able to make an avg of 2.25 k a week. So I can appreciate the knowledge you are sharing and your emphasis on sticking to single strategy and trade plan. Well done! that was a great read. Thanks for the write out, appreciate it. this is just so helpful , I am on full trader from last month. This is exact thing i wanted to hear and know about . Thanks for the post Great post. Keep kicken @$$ Thank you! I'm 17, completely new to all this. Don't know any of the terms, but still found this really helpful, if that makes sense. Where can I learn about this stuff? Any specific Youtube channels or videos? Thanks! Hi there, very interesting posts. Your photo on the original post is super blurry. Can't make out half of the books: [https://preview.redd.it/eii7386ro9r41.jpg?width=1080&format=pjpg&auto=webp&s=c4ed46ae135601e67ced1279f7a66cfcb8281280](https://preview.redd.it/eii7386ro9r41.jpg?width=1080&format=pjpg&auto=webp&s=c4ed46ae135601e67ced1279f7a66cfcb8281280) Did you make a list somewhere? Thanks thank you for the words! It helped me alot. I've been consistently earning for past 8 months, then suddenly crashed starting December. ​ Started to act indecisive, trading very impulsively with avoidance. \+ all the trades I take, I used to back-test to see how I could've make it better. ​ I'll try to get back to what I used to do, back tests and hard work to make things better. thank you once again for the wisdom, I hope I can reach back to you after I get better at this business. Thank you for doing this, gonna keep this bookmarked This was dope , I’m currently on my journey myself I appreciate this a lot for being my first Reddit read Thanks for this, this was very informative. This post helped me decide that trading is not for me at the moment. There is so much to learn and it'll probably take me a year or two just to be confident enough to start risking some money. Plus, i live in a place where just a few thousand bucks seem like a fortune and i doubt i'll be able to risk it trading, will probably do better starting a small shop or something. Trading is a really specialized job, and you need to be really disciplined to win. I'm not saying i'm not capable of it, just that i'll probably have something more suited for my skillset to invest such a level of dedication in, at least for now. ​ Hope things are still going well for you, take care man. Thanks ❤️ Exactly man. It’s all plain data that we can insights from. Good post. Thanks from fellow data mining guy. Thanks. 🙏 Best thing I've read on reddit What platform do you use? So how much do you make a month/year on average? Can you share your excel file to keep track of your trades? This is great!! Thank you. What are your 1,3,5, and 10 year returns. Thanks man, wonderful advise. I’ve been doing alright in the trading sphere but I still am improving. It’s things like this that keep me going. I recently met a trader who has been trading for 15 years! He is extremely adept. Hearing success stories like yours and his is very motivating. So with a $30K account and being average at trading...what can one expect to make a day if looking at a year of earning data? Just what I needed can i please follow your twitter or discord to learn? Thank you ! That's awesome that you found a way man. I quit my job in August and have been day trading full time. I was wondering what your thoughts are on the ""when the bull market is over people will realize making money on day trading will be over"". Obviously that is untrue as you are a example of a successful trader who has been doing it much longer then since March. Have you seen a uptick in your earnings this year or is it kinda the same? Thank you so much for sharing this and answering our questions. It’s so unbelievably helpful. I hope im not too late to ask a question. I have a question about the sharpe ratio that im really struggling to answer by using the internet. You said yours is 1.85. What period of time are you using to calculate this? Also in terms of the standard deviation are you using each individual trade as your source of data or your profit at the close of each day? For example for me to calculate mine am I right in thinking I take my last year of accounts, use the standard deviation for every single trade on there (in %), and use my total annual profit on my account (in %). And then use these in the sharpe ratio formula? Lastly is the sharpe ratio essential/useful? To me it kind of seems like I would be better off doing a confidence test on my P:L ratio. Hopefully I’ve not written this in a confusing way. Thank you so much in advance! Been trading for awhile now. I live in Hawaii and wake up anywhere from 0230-0300 HST (Hawaii is 6 hours behind EST) Want to talk about a grind? ;) Nice Thank you for these posts, gives me a good idea of what I’m getting myself into. Couple questions if I may. What/who do you use to trade l? How many day trades do you try and execute in a day? this ones no bull!!! all true.. salute! I understand this post is very old, am curious, why didn’t you join a firm or something? I’m glad you found it helpful Yes, sir! Those are some good additions. What saved me was simply honoring my business plan’s loss protection/limit down which outlines what you added. I cannot average down unless I see a pattern in the middle of a pattern in a trade. I do not see it as averaging down though, I see this as 2 totally different trades These are some really good tips. Especially not trading full size outside market hours and checking yourself for addiction. Yep, good points. Outside market hours it is simply too easy for algos to move prices and hunt for stops. I’ve seen this too many times. Honoring daily stops is so important. If I cut out my self destructing days where I try to win it all back, I would be doing so much better. I feel like I'm speaking just like your friends/family members when you were going to go full on daytrading, but it sounds like ""tilt state"" in poker. It's also called the same in moba games. It's not that I call trading gambling, but I can definitely relate as it's hard to stop losing after 3 games in a row. You just go for a walk and try to clear your mind. It’s a business of mental fortitude indeed, my friend. Thank you for the kind comment Soon, my friend! Just want it to be perfect Thank you, bud! Nice way of saying it’s drawn out lol! Jk I’m glad to see that. All the best Lol! Unique way to comment. Glad you enjoyed it. Keep on going, don’t quit Yes, sir! Appreciate the comment, my friend. As always Glad to read that, bud! Keep going Awesome, man. Wasn’t the funnest gig was it? Lol Are you trading full time now by any chance? I went I’m willing to take losses and they never fazed me. One of my biggest things was knowing when to either stop or not start at all. When I’d go over my losing trades they were **almost** always against my original plan. I’d make excuses and say something like “ style trades do it this way I’ll do it like that” Thank you for the kind comment by the way Haha @legal advice comment. I’m glad you found it engaging and of quality caliber. 1) Like I said in the beginning, it’s just another day for me when I trade. Kind of like how people manage their finances, to me trading is just growing my money. If I lose it doesn’t bother me. I would not go back to a 9-5 but I would stay a little longer. However long it would have taken to save up for a year of expenses. If I did that, I wouldn’t be where I’m at. But I also would have had way less stressful inception into full time trading. I used to have a hard time doing things like going out and being a normal person because I was sulking over a small drawdown and thinking. I would think in R meaning, “i can’t go out. 1R or an entire trade. I’m now 1 trade closer to losing my business.” It wasn’t fun 2) I’m a pessimist. I need lots and lots of data but let’s say I’m sold on that strategy and I wanted to trade it. Whatever works. If I can see that time and time again it is yielding reward to my risk then I’m fine I’ve chatted with plenty of traders and worked with a few. Some cannot hold to 3:1RRR. The higher your R the lower your probability of profiting (Win-Rate). Some people can’t mentally handle 10:1R at 20% win rate meanwhile some people can’t handle 0.5:1R because those few consecutive losses wipe out all the hard work. You’ve got to find the balance. I appreciate that! And thank you for taking the time out to comment, my friend Thank you for the kind words That means a lot, man! It’s just the tip of the iceberg. I have lots of drafts I don’t post because they’re so drawn out. I always post when I consolidate it enough for it to be bearable All in due time, man. Thank you! It’s the new land of opportunity. Just make sure we keep the state the way it is if you know what I mean. We welcome new Texans. As long as Texas remains Texas forever Drop a few bucks on YT Premium and go ad-free, it's a life changer. Definitely one of my favorite bullet points if I say myself. When searching for screenshots for little pieces of info to provide here, I searched in Google incognito so I didn’t get them. I messed up on one and searched on my normal tab and now I see that exact ad. I haven’t seen a trading ad in a while but they’ve changed a lot. Best advice is just study trading in a private or incognito tab in order to not get cookies or whatever it is that picks up key words for ads I’m open to bartering to making that happen! We’re traders and that’s what traders do I simply just can’t do websites haha! Site will be a while but in the works. Let it be motivation to write a plan that’s proven. No rules in how it looks or how pretty it is, as long as you see the raw data you can see and touch [digitally] I appreciate that That means bunches my friend! I’ve got drafts to no end but know they’re too long to even start reading. Like a book with long chapters lol All the best Thank you and indeed, even if we have totally different strategies, these fundamentals are applicable to any business or trading strategy. **Even after bad trades, you’re only wrong if you deviate from your ***proven*** plan** Don’t plan on it, my friend. Not a problem, bud. All the best I don’t trade options in my trading account. You can negotiate it down. 50¢ isn’t bad at all but I know plenty of people that use TOS for charting and execute on other platforms. Just remember you get what you pay for No, sir. Not a fan of StockTwits. Kind of a cesspool. My twitter handle is the same as my Reddit one @CJT2013 I appreciate that, man! Keep it simple. Price only does 2 things. Can’t be that hard. You get that callus after a few black eyes and stiff upper lips Matching pictures and patterns is the easy part, bud. It’s the ability to walk from a trade that doesn’t say “Free Money most of the time” All the best, man! Yes, sir! Keep it simple man! I appreciate the kind words. Unless the law of large numbers fails, I’ll be alright! I can use Trade Ideas to scan in hindsight. Up to 7 weeks then it archives the data. I can see everything down to what the ATR, Share float, short float%, even fundamentals etc etc of that exact time. Outside of that, I look at stocks gapping to support or resistance. Anyone can see that for free. Less precise data but hey you get what you pay for Hope this helps and thank you for the kind comment Rah! I appreciate the comment, brother. You’re building callouses, they’re lighting tiny matches under your feet and after a while and you have enough data, you’ll find correlations then boom, you’ll have your style. Kind of like algebra, it kind of just clicks one day The other books aren’t horrible. But it’s 2020, you can find the same info for free online and start building your own strategy All in due time, man! Haha! You cracked a laugh out of me. Not long at all, matter of fact it took editing and making sure it wasn’t drawn out much longer. I write my posts off the cuff, it’s the sitting down and deleting the tangents that make it an encyclopedia so long Thank you for the kind comment! So you get what you pay for. Only thing I use it for is PreMarket scanning. It’s a yearly/monthly expense but for me it’s worth it. I’ve used it for years and trading is a method of habit. I don’t want to break what’s not broken. To me it’s worth it. $0.50 per trading day. I used to spend 15x that just making 1 trade sending an order ticket and traded multiple times in a day Nobody knows how much different trading is now versus 1+ year(s) ago. People were a lot more careful taking trades versus now. Used to cost $15 just to make 1 trade in 2015 That’s awesome, bud! Don’t stop, you’re years ahead of the curve Good question. I do. +5R is my limit up. Drop 2.5R is my limit down (daily) +10R is my limit up. Drop 5R is my limit down (weekly) Risk management is basically if you’re experiencing a consecutive losses. Walk. Risk management with sizing positions in accordance to the win-rate/RRR/ExpectedValue of a pattern. It’s basically the “defense” of your account. When your offense is tanking, your defense protects the house As amalgamated as I can make it Work is what courses through our veins! We’re a different breed, ain’t a Texan scared of a little work Thank you for the kind comments, bud. I like to post here every month or so just to show face Don’t software engineers have badass schedules? Yes, sir! I admire transparency with everyone hence I do my best to provide that within this business I appreciate your comment, my friend! That first comment means a lot, bud. Congrats on going live. Trust your stats and edge. Embrace the drawdowns as homage to the business. And keep that tunnel vision. You’ll be fine Absolutely they do. Thank you for the comment Hey, man I didn’t do much of anything compared to those who paved the path in this country but I appreciate the comment and support, my friend. Means a lot Thank you! The margin vs cash is my favorite post Thank you for that kind comment. It’s just the tip of the iceberg though. If I gave all of my experience I don’t think Reddit would be able to publish a book size post lol! I know! Really wish these marketers would actually be traders. Thank you for the kind comment. I didn’t presume people would actually read it all in one sitting I appreciate that, bud! I appreciate that! I wrote it to do both grounding and confidence. Just have to find the perfect balance I’m replying to all the comments. Nothing much to do this weekend for me! Thank you, man!! I enjoy the comments like these All traders that I know personally whether met them online or in person. Very quiet but kind people. Very black and white too! They’re not out trying to start YouTube channels posting P/L’s online. The sharpe and R are the only ways. Risk free rate of return is way better than %. Only use those in long term accounts. I appreciate your kind comment! Thank you for the comment! None really. Try their monthly premium next sale they have (probably Black Friday). I just use it because trading is a thing of habit and I have tried doing PreMarket scanning on TOS.. it’s not the same in my eyes. Kind of like somebody driving a car. We can drive any car but we feel uncomfortable with the new blind spots in the new car I like to make posts like this from time to time. Never got to meet someone who could provide the things you’ll never realize before being in the world of it. Glad you found it helpful, bud! That means a bunch to me, man! Thank you for the comment I appreciate that comment! That’s why I make the posts I make. The closest I got to the reality was maybe an Investopedia article about “managing risk”, risk reward”, and “Cut losers short”. The last one makes no sense. A loss is a loss if you bass it off of a significant price level. All of the articles confused me. I would think things like, “oh so once I’m in the red, get out”. Finally after time and time again I decided to just “make my own rules” I suppose and boom here I am Options are tough to day trade unless they’re super liquid such as SPY, AAPL (off the top of my head). Spreads tend to be much wider as well except again on AAPL/SPY. I only trade options in my IRA and I sell puts on stocks I want to own. If exercised I’ll sell a call to finance a long put as insurance to what I own. That’s all I do with options Me though I daytrade the securities I use Excel so I can edit and customize what I want how I want. Excel is a great tool to learn so yes. Big commendation on trading while AD! Idk how you do it, man. I’m sure you’re stationed somewhere that is conducive to your schedule for trading.. or you’re a salty chief or O3+ lol! Regardless, great stuff Totally related to trading. Gotta have sharp tools for a sharper edge! i9 9900kCPU 64GB RAM (2) 1060 GeForce NVDA (I don’t remember the exact specs but it isn’t a great graphics card since I don’t game. Just charts and spreadsheets) 1TB SSD Aorus z390 MOBO Make it happen. You will pay homage to break into this business and perhaps more than any other business Thank you for the comment! I appreciate the comment! Yes, sir! Thank you for the kind comment. Can’t be a 1 hitter quitter in this business. You’ll taste blood from time to time but that’s part of it Thank you! I use Trade Ideas and Excel. Nothing else. Hey, I really appreciate you taking the time out to write such a kind comment. That’s great to read about your success as well. Phenomenal income in this kind of business regardless of where you live All the best I appreciate the comment. To summarize: Envision the larger picture rather than the immediate. You won’t trade everyday and you won’t profit everyday. But if you allow The Law of Large Numbers to work its magic; you’ll succeed Yes, sir! Thank you for the comment Cool, man! I was 20 when I started. Back when only Tim Sykes was selling his stuff on YouTube. Not much on YouTube helped out. Other than what **not** to do. I learned by simply spending screen time. Things will start to pop out at you Thank you for the kind comment. My goal was to make people aware rather than keep people from trading. Although it seems I achieved the former with you which is the point of this post All the best, my friend Thank you for the kind comment Like I mentioned in the post. On average I return roughly .8-1R per trading day I think it really depends on your strategy as to what you can make Ouch, I trade on AST time which is 1 hour ahead of EST. I feel pretty lucky lol Oops post* history not lost. That makes sense, I do like how if you add to a position TOS will show your p/l as if it is a second trade when you expand the dropdown (it feels like a separate trade). My biggest losers tend to be swing trades where I average down. Have a great weekend! This sounds like you're not averaging down, but averaging up (since the trade is already moving in your favor). I think many traders also refer to this as an 'add', those kinds of trades are the best IMO. Me too, those revenge trades on your p/l are killer There is so much to glean from this ~ it’s not even funny how most kids won’t even read it. I might re-read this and hit you up with a question. Ex-Financial old dog here trying to relearn some tricks. This is enlightening. All the best to you too whats your twtr handle Great post man will definitely be reading this again. Yea it wasn't the most exciting but the paychecks always made it worth it. I am trading full time now (thanks to layoffs) with a small side/part time gig helping a friend's new business get off the ground. I wish the past couple years when I was dabbling in the market I was learning more, instead I was just speculating and buying stocks I thought would go up(worked out AMZN, AAPL, etc) but they were more buy and hold methods. I highly agree with you on losing trades were mostly from breaking my plan. Starting out I was also trying every pattern and strategy under the sun because I fell for the furu's promise of easy money lol. Once I set up my management plan it was much easier to statistically see trading being a profitable source of income. Sticking to a setup that I knew I could recognize easily and with no emotion set my orders and basically walk away know my bracket is set and it either hits target or stops, nothing else. I second that I thought I was the only one that did that, lol I appreciate it. You’re awesome Oh sorry I thought I saw you short NFLX. Idk it's pretty bad imo once you hit high volumes on tickers trading < $50 [deleted] [deleted] Depends on the company. The threat of absurd hours has discouraged me from attempting to work at FAANG companies. Finished reading both your articles, your honesty is much appreciated. I learnt alot, have alot of tabs open just trying to understand premarket, sharpe ratio etc.. As someone who lives in the UK and is just starting out would you recommend me to trade ont he america stock market? Also whihc broker would be the best one to go with? Bingo! lol, I'm on shore duty trying my hand at recruiting and thanks to the pandemic, I get the office to myself, my supervisor lives in 35 minutes away, and limit all my appointments after 11:30 so I and focus on market open and growing my account. After this, I'm trying to go to Japan. That way the workday doesn't interfere with the open. I've been studying for a little over 3 years, trading part time for 9 months now, and I'm working on a solid business plan to take this to the next level. You're an inspiration, my friend. Im trying to figure out my preffered approach to trade. So far im leaning towards scalpin in the early hours and then more analytical trading later in the day. Out of interest, how did you screen, enter and exit your last good trade? Just 1 will do :) I appreciate your appreciation. I don’t write too many. Thanks for the reply! Any references to learn strategies? Either or. Sometimes I’ll trade a breakthrough pattern and it’ll pullback for a reversal. Sometimes my 2nd entry is above or below my original entry. Nonetheless; it’s 2 different trades in my research I know and you’re right. Check my post history. Compare comments on posts a year+ ago versus today. But like I said, I make my posts long to segregate those serious and those who approach this business frivolously who’ll become liquidity suppliers. I appreciate the comment, man. Don’t be shy on the inbox. It’s always got messages for when I’m bored The paychecks were most definitely worth it but that thrill lost its shock value fast and became stale. Great job on starting multiple sources of income. That’s one of the many beauties trading provides. Time! I was short NFLX I was short the securities, man No idea why I wrote 50¢. I meant $5 a day but that’s nothing compared to when commissions were a thing Thank you for the kind comment though! All or nothing! Gotta keep it simple for me Like I said in the post, the fundamental criteria then stocks gapping to support and resistance. Found a long biased pattern and boom I posted my WL on Twitter but deleted it since my account number was on there I had DOCU and BUD on my WL. Both long watches As an embryo of a trader, I read to the end. And I copy pasted parts and emailed to myself so refer to later. I'm actually on the precipice of going full time day trader. I've traded during my 9-5 in 2018-19 and have now saved up enough from my full time job income to take the risk and quit. I know it won't be easy. I'm prepared to spend 8+ hours each day educating myself until I come up with a system before I make my first big trades. I hope to be in an at least a break even position in a year. Really trying to manage my expectations because I'm not doing this to try to get rich overnight. Reading posts like yours help a lot in imagining what my every day would feel like. It's definitely scary but also exciting... I'll be quitting my job in early January. In the meantime, I've got lots of reading to do. Thanks for your posts, G I know it's an old comment of you and i see you've only made four posts on Reddit but hopefully you'll read my comment. I'm really happy reading ""But like I said, I make my posts long to segregate those serious and those who approach this business frivolously who’ll become liquidity suppliers."" It's about 1 AM at my place right now and I've read every single word of your first two parts. I intrigues me, it's really inspiring for me to read your posts. I've read great posts of other Redditors before which made me enthousiastic and I because of that I would share then with my friends who are in 'trading' as well. Most of the time they said: ""Such a long shitpost."". I already knew they probably cannot read proper and correct or they are just to dumb for the subject. I was about to share your reddit posts with a friend but then I was like: ""Not this time"". This is great info I found myself. THANKS! I will try to find myself a strategy and i will back test it alot until it works. I am actually looking forward to it. A little sidenote: I am in some kind of a fking depression right now, trying to figure out what a like in life. I don't enjoy alot unfortunately. But those posts of yours actually gave me some inspiration and joy. I am looking forward to see if I can challenge myself finding a long term winning strategy. I know I've got the talent to not be a quitter, i like math, I like Excel and I do like to puzzle financially. Oh and I've been a trader/investor in crypto for over 5 years now. I still enjoy that stuff each day! I have you a follow on Twitter. What are they requirements to get to be your followers? Thanks for the reply. I tried some gap trading today on IG broker. Found out they don't let you place orders on stocks that are extremely volatile, I got this message instead: ""Closing only: Market unavailable to open"".. There are so many platforms out and I don't know how to decern the appropriate one. Would you know what are the go-to and avoid platforms for UK retail accounts that wish to do gap trading?" I analyzed all 700+ buy and sell recommendations made by Jim Cramer in 2021. Here are the results.,1468,https://www.reddit.com/r/Daytrading/comments/mtfkvu/i_analyzed_all_700_buy_and_sell_recommendations/,"Thanks for taking the time to do this!!! Do you think the one day returns are affected by his mentioning the stock in the first place? How do you screen the difference between the actual character of the stock and the hype that’s associated with him mentioning it? I don't think he's predicting anything so much as having a direct impact on the market the next day. I think this is evidence that his market manipulation is working. It is nice to see, that someone is man enough, besides personal feelings, to say Something good about an ""Opponent"". Should be an Example for the whole sub. Given the majority of people that watch him I’m assuming are older and usually long looking for advise. Unless your day trading, looks a lot like pump and dumps. A lot of people set up stop looses and the one week mark they are usually set off. Just my opinion though. What buy price did you use exactly? The price at the time of Cramer's recommendation or of that day's opening price? These are the posts I like to see, good shit man 1 day returns may be so pronounced because of his market moving influence, maybe. Should not attribute that to his skill but to his popularity. The ""till date"" numbers are impressive. Well done. All of you people that are looking for holes in how he did this I would Love to see you put together such comprehensive and knowledgeable facts and present them and then you can do it however you want. As for this gentleman you did a fine job and I appreciate that this was not a small task and I’m grateful for the effort you put in. I could care less about Kramer but I agree that it takes a real man to say that you thought it would come out differently and yet you posted it and kept going with it because at the end of the day they are the facts. Just like the fact that he is a tool. He actually gets it right for whatever reason. He is doing better than me at this point. Where can we find live recommendations from him? Can you adjust the data so one day means the following day market open to market close? Not including pre market trading or after hours trading. Very cool research bro! Awesome weekend read. Damn I like this, should keep a post of all each nights picks for err reference.... Cramers Hot Potato 🥔 of the day 🇺🇸 What does “till date” mean? When do his stock picks on that website get updated for the new day? very interesting! what this tells me is that his show is probably huge and he probably has a big platform. its a classic pump. he mentions it on the show and people go out and pump the stock for the first day or first several days. Really cool. I might start looking at his buys with the intent of selling in 24 hours and use the sells to see how they line up to what I'm thinking of selling. Many sheep watch this show so part of it can be manipulation in a way because if he says buy or sell and millions listen, that's going to make his numbers different Vs someone who privately makes picks that millions don't copy. Regardless, if sheep copy him it's useful knowing what he recommends. I appreciate the hard work here. Thank you His one day recommendations are amazing because so many people watch his show and act. Even people that don't like him can make some money short term on what he says. I watched way back when. He said something once: he mentioned a stock name and watched the volume the first few seconds and it shot up. This was after normal hours so it was people trying to scalp on his words. Thanks for doing the work on this. You really think the probability of a random stock going up is 50%? Where did you find this? I have a hard time believing it is true. Now do the motley fool! this doesnt tell us anything other then the majority of time the Cramer pump works for a day/ trading session Well sounds like he is good at the one day pump. We appreciate this 💪 So what you are saying is that I longer have to do any more research I can just watch this guy every day and be a millionaire within a year. Lol jk jk. Serious question though....(still learning hear, so please excuse any stupid questions) Is he really this good? Or, is the hype/attention he is bringing to the stock causing the spike?(can not remember where I read it but “playing the market” is psychological game and it is mainly ran on emotions) Also, how do you lose over 100%? You state that his calls are a cumulative of 118.9% over a period of time. How is this possible? Nice work. Thank you for taking the time to perform the study. Ignore all the negative comments, some people can't just scroll by without having to throw shit at you for doing some hard work, and sharing it with us. I always suspected the thesis you put forward, the results did surprise me. I've always been a bit of a Cramer contrarian, but its true, he does have a lot of insight, and he is connected to the game, so he's obviously got a leg up on a part time actor like me. It’s important to note his 1 month returns. Look he’s literally pumping and dumping the stock through market manipulation. Clearly after 1 day the stock will go up. He’s literally telling millions to buy a stock, a certain subset will indeed buy. Up she goes. Then guess what. You repeat it over and over for weeks, guess what? Up a bit more. Then after a month when investors are all suckered in he fucking dumps it, or the people who pay him to say shit dump the stock. About 1 month after when all the hedgies have sold off and left a bunch of suckers as bag holders, they’re going. Ya data is there, it’s all incriminating and points to an organized pump and dump scheme! Thanks for bringing forward evidence that might help convict this trout. Jim Kramer is a pump and dump guy. If you think that is harsh please google and watch on you tube “Jim Kramer and John Stewart” . John Stewart is a man of integrity whom i trust very much. He completely exposes jim kramer. I feel sorry for millions of americans who are retired and follow jim kramers recommendations. No no no. He recommends stocks that already went up that day and then they tank. Get it right. Anyone can recommend that you should've bought a stock in the morning when they come on air at 6pm after it jumped 137% that day. Thank you - very interesting indeed. I am curious what did you take as entry value for given stock. Was it close on the day of the recommendation so technically a value from before the recommendation or open of the next day, so technically after recommendation? Great analysis, posts like this are the reason I lurk this sub [removed] So the one day returns are phenomenal. Isn't that exactly what we can expect from hedgie scum like him?? Pump up a stock for a day just to get people interested and then pass on the bags to these new investors... If I'm interpretting this incorrectly feel free to tell me. I won't believe or trust you, but please tell me :) this crammer can eat my little crammy Is it possible he was being fed some sort of insider information so that would give him a bit of an advantage when it came to predicting stock moves? The “till date” metric is probably the most reliable since the day after was a market reaction to Cramer’s recommendation, the “week and month after” was a retrace from the initial pop from the Cramer recommendation. Good work. Sounds like shorting his buys at the next days close/2nd days open and holding for a few months is the way to go. You would be selling into the strength from his call and it’s sounds like ~6 months later your in the +200% range. Am I missing something? He recommends a buy one month average before hfs short it lol He a pump and dumper lol I can't believe people are asking if Jim can pump a stock of course he can...look at how many viewers he has Please open a website and post these results.. lot more will be thankful to you Insanely good job here. I agree with light pump on his word and light pump near his target date. One week and one month being awkwardly in the middle because the people that watch him may wait for dips with target in mind. Great job, next you should do the same with the chick that does this. How fucking dumb do you need to be to fail to understand a market that was up 30% probably was an easy market to pick stocks in? This is not rhetorical. I honestly want to know how fucking stupid OP is. Fuck Cramer XL HE SAID BUY BUY BUY AT $16 all it’s done was go down !!!! 2 months ago he said he would never buy banks run from them today he says buy buy buy!! He’s the one who go a lot of people really excited about Specs . Then he says run from them !!!! He came out with his great 5G plays this year INSG BIG Contract with T-Mobile he said buy buy buy at $19 it’s $9 now . What happened to the 5G play . He needs to be pulled off TV LOAD MOUTH ASS HOLD !!!! This is the stupidest thing I've ever seen and I can't believe how many of you are eating it up. I’m still a Reddit noob, how do you crosspost? This would get a lot of attention in superstonk Fucking Amazing* Is there an explanation why "" **one-day returns** "" are more accurate? Very interesting. Greatly appreciate the effort you put in here! Is this from his show? Twitter? Or elsewhere? This is awesome. If you want to look at a similar scenario, check out Halftime Report mentions. Every day, there’s a few stocks that spike on their recommendations — during market hours no less, so you can scalp them nicely. Very cool man thanks for sharing Are the one day returns based on the open and close prices the day following his recommendation (his show comes on after market close)? I think what Cramer said in 2006 makes me question everything. You are correct about him being ""good"" but if you read up on the guy his history leading him up to where he is now is spotty. Straight up wives tales shit where the majority of his investing feats are up for dispute and seem to travel by word of mouth. But what stands out most is his interview from 06. Here's the quote straight from wikipedia that makes me unimpressed with anything that Cramer does - In a December 2006 interview, Cramer described activities used by hedge fund managers to manipulate stock prices—some of debatable legality and others illegal. He described how he could push stocks higher or lower with as little as $5 million in capital when he was running his hedge fund. Cramer said, ""A lot of times when I was [short](https://en.wikipedia.org/wiki/Short_(finance)) at my hedge fund ... When I was positioned short—meaning I needed it down—I would create a level of activity beforehand that could drive the [futures](https://en.wikipedia.org/wiki/Futures_contract)."" He also encouraged hedge funds to engage in this type of activity because it is ""a very quick way to make money.""[\[33\]](https://en.wikipedia.org/wiki/Jim_Cramer#cite_note-33) Cramer stated that everything he did was legal, but that illegal activity is common in the hedge fund industry as well. He also stated that some hedge fund managers spread false rumors to drive a stock down: ""What's important when you are in that hedge-fund mode is to not do anything remotely truthful because the truth is so against your view, that it's important to create a new truth, to develop a fiction.""[\[34\]](https://en.wikipedia.org/wiki/Jim_Cramer#cite_note-34) Cramer described a variety of tactics that hedge fund managers use to affect a stock's price. I want to understand this. He makes his predictions at 6pm or so? and you are talking about buying them in after hours or pre market and selling before end of next trading day? or he makes his predictions monday at 630pm..you buy tuesday and sell before wednesday EOD? OK, preface that with we have been in the biggest bull market in the last 12 years in the history of the stock market -3 weeks in March 2020. My dog could pick a stock winner. We could all have a show and be blowhards. Isn't his show after the market closes? How would anyone get those one day returns I like the cramer effect personally for the very short term effect he has in the morning or during lunchtime. Especially if he says a stock is ""going higher."" He really had an effect on nvidia last week, i believe it was Wednesday morning. Pretty cool study. what's the learning aspect of trading though? If i'm not learning how to eventually trade, does not make sense & seems like a waste of time/energy. Sciencing like a boss How do you calculate his flip flops? Example he recommended $XL and that he loves it at ~15 it ran to $35 then after it fell to $10 he said he would stay far away sell. This is actually a beautiful analysis. I bookmarked this. All great and all but if look at each stock bars and charts 5 min... You can see the cramer affect. The spike is huge and to get in a minute after the spike one has already lost the race. following cramer blindfolded isn't smart. Nice analysis here. Sounds like a nice summation of your work would be that Cramers recomended buys are a great short play, when you here him recomend a buy, grab it, but don't hold it for more than a day or two, you can usually catch a quick surge thanks to his popularity. Likewise if you're holding a stock that he recommends to buy, you may want to consider getting out after it takes a quick spike. His buys are good short plays, but become increasingly likely toblose money with time. Are these returns assessed as if you bought *after* he makes the recommendation and sell the next day, or as if you bought *the same day* he makes the recommendation at market open? If the latter, of course you’d have good returns, because you’re buying before he potentially recommends it; he could be recommending it because it rose early in the session. That wouldn’t be a realistic sampling of returns because you couldn’t possibly know he’d recommend it in advance. Is one day purchase possible? Because Cramer show goes after stock market closes, and the stock would already be up premarket next day So the lesson is buy and sell his recommendation.. Don't hold it..? Which is what most people who watch cnbc would do. Which they know.. So he maintains credibility with data, But he wins on human psychology. King pumper, that’s why. Cramer says buy.. after pump-n-dump.... new stock recommended... pump-dump... rinse and repeat Did you take into account the gap up on stocks he recommends. For example, he recommends Stock X that closed at $20 a share. Stock X opens at $24 and closes at $25. Technically they stock saw a $5 (25%) increase by the close of the next day, but you as an investor would have only made $1 if you bought at open and sold at close. Curious about that “net” profit accessible to someone just buying his picks at open the next day. Also, do you consider the Heisenberg principle that just by Cramer announcing information on a stock impacts that stock directly—that’s its not done in a vacuum? An analysis of only 10.6% is not a great sample Also, it wouldn't surprise me if a lot of the stocks he recommends are stocks that are already up big after an earnings or news report as that will tend to be what people call in about so they may gap up the next day and you are including that in the calculation even though it's not a capturable gain. The true measure would be opening to closing price on the following day. Did you take into account the time of the recommendation vs how high the stock already went up before the time of day? Wowwww. You.... are frigging awesome. THANK YOU!!!! But is that even a good thing? How do you differentiate between his percent gains from a daily buy and sell of a stock based on merit and not based on his call? Even if the stock gains 3-5% (or goes short) on average per day of it being positive, that's like 741 times that his ""555%"" return gets a nudge. How do you know that this increase isn't just from him? Yea maybe people get hyped but the reality of the market is it's too vast for there to be huge runs every time Cramer made a pick. I would like to know if I bought and sold all of cramers picks for 1 year, but I buy and sell after a 3-5% increase only each time, what my PL be for that. Then compare that to an account where I went long each pick, short each pick, or the average amount of price rise per day after a Cramer pick from buying the bottom to selling the top. Cramer recommends stock after the market closes which complicates things. Lets say a stock closes at $10 on Monday at 1pm pst then cramer recommends it after hours at 3pm PST and it pops to 11. You buy at 11 after he recommends it. If it closes on Tuesday at $11, you make nothing, but your data might say you made 10%. Thoughts on that? Am I missing something? Do you know the gains on day 2 at market close? Also, any idea how the picks compare to s&p 500 or qqq? Hahaha love it...but cramer isnt a trader he is just a tv figurehead making I think 10+ million a year on tv so I guess he is doing something right One day trade data is irrelevant since Cramer himself doesn’t allegedly move on a stock mentioned in the show in under 5 days or something. This data is super misleading. Good work Thanks for sharing 👍 motley fool next? Quick question, I know you mentioned his show, Mad Money, is there where the picks come from or is it from his paid service. Also, are the picks from when people call in and ask about a stock or from his various segments or all of the above? ​ I'll start listening to his podcast again and papertrade it to see what happens. Thanks for the awesome job! Had I listened to him when he said to sell GME I’d have a lot more money than I do now. Love him or hate him, he’s right a lot. Great work! If I understand correctly you’re using the close price on the date of the call regardless of whether the call was made prior to or after the close. The findings would be much more significant in my eyes if the next close or open following the call was used. Example: Jim calls a stock out at 2PM, use that days close. Jim calls a stock out at 5PM, use the next days open. this is pretty cool Looks great thanks for all the hard work! I do echo what some others have said though and would like to see how much the price varied from market open the day after his recommendation to market close the day after his recommendation. Obviously, given that his show airs 6PM EST when markets are closed, if he makes a recommendation, the retail investor can't act on it until the next morning technically. Sorry, but I think Cramer's calls aren't really better than any other dubious newsletter stock picker. I think the analysis is flawed because where he says to ""sell, sell, sell"" can often be about a bad earlier call on a stock made prior on the show. There's a long history of retailers since the mid-latter 00's trying to follow his show's advice and picks and end up wising up about him after losing out on their attempt to pick their own investments based on his show, as well as him and his show being unscrupulous advertisement and propaganda for guest ceo's doing damage control for, or bs-propping their company up, supposedly excused by cnbc's entertainment disclaimers. Interesting effort on analyzing his 2021 stats though. ([cramer review](https://www.tradingschools.org/reviews/action-alerts-plus/)) ([review of the najarians](https://www.tradingschools.org/market-rebellion/)) Is it if you bought the day after his recommendation, the day of, or what? When did you calculate the buy? What do you mean by sell the next day? https://youtu.be/AC6bZezzQRo You are welcome! I have a sub where I do similar analysis. Do check it out if you are interested :) Yes I think the trend over time speaks to that. It’s obviously less effective over time so his mentioning them does seem to have a short term effect on the price that doesn’t seem to reflect true performance. Yes all the sheep follow him. It's hard to judge how much is due to his wisdom Vs herd mentality. He could even he wrong, but enough sheep listen will make him right. I'm neutral on the guy, hate some things and like others. This is where the analysis breaks down in terms if impartiality and results bias. Cramer's picks are a self fulfilling prophecy. Case in point (and sorry because it is anecdotal), but I've seen in NUMEROUS occasions where a ticker is trending flat or slightly up and he will mention it in real time, and they'll keep the ticker showing...and the sucker will climb... like people are buying as he makes the recommendations. Now correlation doesn't mean causation...but Jesus I've seen it too many times to ignore. His voice manipulates stock prices. That is so obvious to me. This comment right here Yeah, this is what I came down to comment. Just like most recommenders, they have influence on the stocks when they pass on their picks. In some way, its an ideal position to be in. Buy a stock, hype it up, and then sell. I'm still trying to work out where the line is between recommending good stocks and taking advantage of the mini to large pump and dump you have instigated? There is definitely an effect here, but unfortunately I don't think there's a way to test it Schrodinger’s stock Doesn’t mean you can’t profit from it. It’s not really manipulation though. He’s saying what he thinks and because of his scope of influence it causes real time movement in share price. The same could be said for a great many other well known analysts and financial commentators. While I do think he knows his predictions will influence the market I don’t think him simply giving his view can be considered manipulation. If that was the case then anyone with a significant voice in the market would be considered manipulative just by opening their mouth. Haven’t thought of it this way to be honest. Makes sense now though lol Don't try saying that over at WSB, would have a million votes down in about five minutes. This sub is a bit more logical and less emotional. We are in a day trading sub, following his stock pick and scalping is a good idea yeah this is pretty important to know... His numbers are good but there is truth in this. Cramer is huge. The SEC has made bigger accusations over some people on forums liking stock. They don't seem to have an issue with a guy that has massive influence behind a media conglomerate such as CNBC. Call me skeptical but Cramer could take any stock with low activity, rally people, drive it up really quick, and squeeze out quick profits with relative ease. At a certain point these guys become less of a financial guru and more of a financial influencer. he has a web site, and a stock picking service... Till date. To date. Until now. All synonymous with ""everything up until this point (whenever this study was ended)"". Basically it's showing a day, a week, a month, all time (a year). Any strategy you can use to make some money. One that works for me is lurking on ST, watching the next stock that is being pumped. I'm not good or smart enough to catch it running up, so I sit back and wait until the stock drops into oversold territory (low of the day is great). Hold on it a day or week for it to come back to pre-pump price then sell. This isn't foolproof of course, I've been caught a few times where that low goes even lower so a good exit plan is still needed. My assumption is the random walk theory for the stock price. I know it works in only an ideal situation, but that's the best benchmark I could come up with. You can read more about this a. [https://www.investopedia.com/terms/r/randomwalktheory.asp](https://www.investopedia.com/terms/r/randomwalktheory.asp) b.[https://www.investopedia.com/articles/financial-theory/09/probability-without-formulas.asp](https://www.investopedia.com/articles/financial-theory/09/probability-without-formulas.asp) He is a pump and dump for hedgies sorry that's all he will ever be to me Both. I made money on a few shits n giggle calls mimicking whatshernames suggestion because the small pump from word of mouth was enough. Good final question though, assuming it’s probabilities and not cash for obvious reasons of not being able to go negative on standard investment stocks he said you’ll make 7% but instead lost 7% which is 200% move in the wrong direction. 100% being zero gain 100% more being the 7% the wrong direction. >his calls are a cumulative of 118.9% over a period of time I think it means he mentions for example 6 stocks, each drops \~20% till the end of the next day, 6x(-20%)=-120%. That's exactly what I was thinking. he says buy stock X. People do. Someone else dumps it and rakes in the cash. good point, wonder if he's benefitting from this pump and dump watching now That was fantastic. The way he cuts through BS with humor and sincerity is an absolute art form. [deleted] Cramer show is after market close. So I am benchmarking that days close price against the next days close price. Says the one who is ideologically committed to a stock. Cramer would walk into ur house and fuck ur wife without hesitation. Ya. we should try this experiment. It seems reliable Probably the same reason it’s easier to guess the weather when it’s 1 day out va when it’s a week or a month out. More time for things to change. Same reason sports bets at the beginning of the season pay out more(sometimes). what would happen if he stops giving out his picks? After Hours they can act on it One day means end of next trading day or just 24hrs from the time of his call? What’s the sub? I just joined! Thanks again!! Yea thanks -!!! Joined! What is the sub ? Do you do this in python What is lt Sweet, saw a few of your posts and they’re great. Appreciate the time you take to put these together. Whats your sub? I would listen to him just to make a quick buck on the attention he brings to a stock. I feel like most people are doing the same. Exactly. The Elon effect. What sheep? Do you mean the boomers? Cramer has been destroyed to oblivion with his market manipulation by millennials. IMO he’s paid off to post certain stocks so that they boom and then consolidate at a higher price than previously traded at prior to his pump. There might be algos programmed to act on his calls the moment they’re made. Retail who try to act on his calls might already be too late. > anyone with a significant voice in the market would be considered manipulative just by opening their mouth. Yes, anyone with significant influence can manipulate the market with public statements. The point of contention regards their intentions, not the established fact of their influence. Jim Cramer previously admitted that CNBC reporters are often used as proxies for intentional market manipulation, so I cannot believe that he is oblivious to his own influence on the markets or that he lacks a motive for market manipulation. WSB never claimed to be logical or unemotional. https://www.reddit.com/r/wallstreetbets/comments/mtehdq/i_analyzed_all_700_buy_and_sell_recommendations/?utm_source=share&utm_medium=ios_app&utm_name=iossmf Just to add on, funny you say that when he made exact same post on wsb and gained a lot of traction. If a topic is interesting, people will gravitate towards it. They may not like Cramer but people know how to separate the creator from the creation. I’ll admit, a little presumptuous of you to make that claim lmao. It’s literally called Wall Street bets. Not Wall Street Makes Reasonable Investment Decisions. Making trades that are more or less in conjunction as a bet. Not everyone is making unfounded bets though. As clearly seen with GME and it’s fundamentals and all the data gathered. In a mere span of 3 months or so, it’s been a fuck fest for one stock. And it’s still far from over. Oh no I know. Was just pointing it out. Ah okay. I was reading it as to date but wasn’t sure if there was some other market term it was referring to. Thanks. Never heard that be referred to as till date before. Interesting strategy...I like this tho. What’s ST? You mixed up probability with possibility What expiry and delta calls or puts did you buy? I agree the wording was a bit harsh but I think it’s a valid point. Other people have brought up the same point and OP has stated that he uses the previous day close as the buy-in point which doesn’t make sense really. Just because it’s obvious doesn’t mean it’s not a possible oversight. I'm not jacking off, your mom's blowing me Wouldn't it be more accurate to take the next day's open, since that is when your actual entry would be? You didn't reply to some other comments. Are you using the day's close which is before Cramer's show even airs? Thank you for clarifying. Are you talking about Mad Money? End of the next trading day! [deleted] Click user name, OP is a mod of said sub Holy fuck! Are we about to make public enemy number - our new secret Messiah? Also does he have to find out? Cause he's kind of a cock what do you mean: "" Cramer has been destroyed to oblivion with his market manipulation by millennials "" seriously asking. Also, are you also saying that millennials can't be sheep, but boomers can? I just want to make sure about that in particular... Yeah mostly boomers. The younger generation is wising up. That's exactly what happens with crypto pump and dumps In fact they blatantly profess the opposite No problem. ""To date"" is more common. I almost never see ""till date"" either. StockTwits. I get up around 3am and start checking what's trending before the bell. 9/10 something is being pumped. The worse the stock is, the harder the pump and the harder the fall lol. [deleted] [deleted] Well there is premarket trading before the market even opens so... After hours trading ? So basically if you bought shares at market open the next day and sold before market close you'd make money off his calls? When did you record purchasing the stock? Was it at a time that you could actually purchase the stock? I always see a lot of DD where it’s like “yeah they didn’t recommend the stock until 5pm but I recorded it at the start of trading that morning...” So are these returns if it was recommended on Thursday and you started recording data on open Friday? Or are you taking the Thursday close price? 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I am on it now, how do you pick a stock that's being pumped? Hard to navigate this app Got it, thx. You do this with crypto also? Why am I indicating it doesn’t make sense? Because the point of Reddit is to have discussions? Don’t really understand your question. If you’re asking why the approach doesn’t make sense then it’s because it doesn’t make sense to use the days close as your entry when you wouldn’t have known to buy the stock till after the close, later on in the evening. Wouldn't it make more sense to compare recommendations made on Wednesday with the opening price to closing price on Thursday. Still anytime I've followed any Cramer recommendation I've lost money, when I've gone the opposite direction I've won. Let's be honest you're actually a broke loser with a centimeter Peter in real life So then wouldn't it make sense to have the entry when pre-market opens, or whenever the show ends? My point is that the current entry time is inaccurate since it occurs before the signal is given. So what your saying there are meme stock catalysts for the zoomers and Cramer catalysts for the boomers? If a crammer recommends a stock on say Wed night I am comparing Wed closing price to Thus closing price. I thought about it, but they are little too volatile for my old self. Stuck in my ways now. But it's good money to be made that's for sure. Well options don't trade in premarket I agree, thats why I think OP needs to clarify here shares vs options too. Its a great start but there is more detail needed here. Exactly that’s what I’m getting from this... that he’s the boomers Reddit, a big ole pump and dump guy I mean you can trade his calls with shares or options or both right? [deleted] If Cramer calls weds night, could thurs open already be pumped? One might buy pumped thurs am and sell at a loss on thurs pm, even though thurs pm still tracks higher than weds pm- right? Just trying to understand.. Ahh I see. Only problem I could see is that Mad Money airs after market closes. (6pm EST/ 3pm PST) so that means you’d have to try buy in at a similar price pre-market. All-in-All though that is some very interesting data. Thank you! I’d be very interested to see if anyone could make an algo trader based off of this. The way I’m thinking I would do it you’d only have to watch Mad Money and enter the stocks Cramer recommends into the script each day. The algo would try to buy each stock premarket at or under the closing price of the day before and then sell it EOD. That does not seem logical I would think you could if you're buying short dated call options and selling them the next day or so. If you're buying puts, according to this analysts analysis you could put the dates out a little further than the calls and after you buy and sell the calls, you could probably buy long puts on the same tickers since the seen to dive long term. 100% agree with you. >r/market\_sentiment This is pretty cool. Mad Money airs after normal closing, so most retail plebs can't trade until the next day (especially a Europoor like myself). Since I don't have the ability to do this on a large scale, could OP use the next day's opening price? Edit: Spelling Yes this is exactly it. I think this is great DD, but you should incorporate the next days opening price into the backtest instead. The next days opening price is often already pumped up and albeit will highly affect the returns you’re seeing. I’d also try to incorporate some sort of slippage into the equation. Even if you just minus .25 from the “gains” it may help provide a bit more realistic a return. Seems like it Yes that would take out the opening variable." My Day Trading Goal: $100K in 180 Days (Progress Report),1452,https://www.reddit.com/r/Daytrading/comments/lzu16g/my_day_trading_goal_100k_in_180_days_progress/,"Congrats and good work! I’m currently trying to make $3k into $6k. That is my goal right now. Then after I get the $6k I would like to double that. And keep going. You will get there! Legendary. How long have you’ve been trading? My $100K in 180 days Start with $200K. Lose 1/2. Boom Congrats! You said you ve been trading for six years and I think this is important to highlight .. how well were you doing before this last 6 months? The 100k capital is something you ve been building over the years? I am more interested in the journey to this moment . Thanks ! How did you pick those 18 trades, knowing they will move? What are you looking for exactly? Congrats, I turned 106,000$ to 5,000$ in just a week. Great work, this is a very similar strategy to what I have been practicing. I am still trying to improve on identifying support and resistance levels, which I’m having mixed success with. Seems like my biggest issue is just finding the right stocks to play. Do you have any advice or commentary on why you decided to trade MDLA, GRPN, and PTON? How do you pick the stocks you want to trade? Trend line, volume, PE? Thank you for sharing. Very motivational. Currently trying to turn 2k into 3k within a month. I think this group and you would get along well. https://www.reddit.com/r/500to100k/ Awesome! I just started on Tuesday with 150$ and I’m just trying to see how much I can make before the end of 2021 hi, what brokerage do you use, do you short stock and do you use leverage? thanks [deleted] Congrats on the success! How do you not end up holding bags? And know when to get out? What percent does the stock goes down that you say that's it I'm out? Congrats, I’m glad you found the bounce because last week I absolutely could not Is this $180K in value or $180K cash in hand. How exactly do you determine some form of passive income from this. Do you sell, keep half of profits then reinvest? Congrats and great progress! If you don’t mind, What does your exit strategy for losses look like? !remind me in 180 days Interesting exit strategy you have. Take note I will. Nice work Awesome job! This is great to see!! Are you holding any positions over night, or strictly day trading? Does your strategy change during a bear market? Hey awesome work! Just curious? Are you using purely support and resistance to trade or are you using some other patterns and such? Also, what is your criteria for picking stocks? Amazing That's remarkable excellent...as good as the best...the titans Thank you very much for sharing. Congratulations on your success. Best place to learn with paper options trading? Ok can I send u my 100k, when ur done? Thx How are you picking what stocks to follow? What if you buy and it goes down right after? You sell? What are your oco brackets Congrats! You said you trade between 9:30 and 10:30. What time frame are you trading? Are you trading stocks or options? I'm starting with 10k right now, but the way the market is right now has me terrified(is it gonna bounce back or go lower) And I don't think I'm ready for a margin account to give me more buy power and shorting plays, so it's gonna be interesting. Congrat and would you mind DM this as well ? Thank you. Made 150k into 70k, feels fucking great I mean great but essentially you could just throw your account at the s&p a buncha times and do that. I want to see 5000% in 180 days. DO IT!! I turned my $8k into $19k in the past 2 months… then lost $8k in the past 2 weeks How do you find stocks that are worth trading into it? Looks like you took some heavy losses with FINV and GE in March, but still up overall atleast. [deleted] I took too long to take profits in my tech calls :( When tsla dropped from 700 to 500s...I sat there and didn't buy any puts...idiot me! KMPH can be a winner in next 2 weeks. 54% short interest. Float only 18 million. Shorts are trapped after the fda approval of their drug. https://www.tipranks.com/news/article/kempharm-won-fda-approval-but-this-analyst-isnt-happy We did just have the best bull run in the last year. So everyone did well. KMPH 2nd most shorted stock, 54% of the float. The company received approval of ADHD drug and pps tanked. Karma of short sellers. Analysts down graded the stock to help their short buddies, I think. https://www.marketwatch.com/tools/screener/short-interest Im at 1700€ invested 2500 but did a bad investment on gme my goal is to wait til its at 250 sell wait for dip and rebuy so i get about 3-4k then i wanna wait for a squeeze at around 600-800€ which i believe in and i believe this gme thing might go for a year so like up down up down and m goal is to make around 100k in 6 months i am an idiot and i am proud of it and may papa elon bless me, this is not a meme i am like this should’ve got into $EYES. Classic pump and dump. Gonna watch it monday PM and see if it possibly continues for some more easy money. Share your tricks 😳 Your scale order. Is that an order type that your brokage supports or do you just set multiple buy orders? Check out cheddar flow for resources - THE SECRET! I’ll take a dm with sources if you don’t mind please I would love to chat with ya dm me man Good work, keep in mind even a monkey could’ve made money the past six months. Just tell us daily what your plans are ok bud so we can copy you?? Post charts and entries and exits and such otherwise this is just bragging. if you start out with 100k somehow, making another 100k doesn't sound that impressive. I'm sure it is, it just doesn't sound like it to me No reply and no verbiage on starting amount .. I dunno so what’s the point of this post? I don’t have any crayons 🖍 Why not a billion in a week? Where you trading? I wonder if Shawn allies scale orders? Where can I learn how to trade in rangers? I’m leading Street Smart Edge now but don’t see what you referring to there .. thanks Great convo. Thanks for sharing. It’s really helpful. Congratulations! Very nice growth. Good job, buddy! 🤟 What factors are you using to find your support levels? Where do you fetch your data from for your tableau? You are freaking amazing,this shows that trading is not luck but skills and mindset.I've been doing this for only a couple of months,but i'm hooked.May i ask on what do you rely when deciding an entry and exit ? What triggers a stock in your eyes/how do you find your plays? Do you have to register as a day trader and once you do, what does that mean? I just lurk here but I am curious about the tax and legal implications of being a day trader. Once I'm registered does it mean I get to buy right after I sell a stock, because right now it won't settle for at least a few days. Let’s see if these posts keep up in a proper downturn. Making money is easy but cashing out and exiting a casino is almost impossible! Following your tableau, it seems that a significant part of the gains were in options trades, am I seeing this correctly? Nice work. You can do that in a week with $SPY options or you may lose it all. So your buying 930 and selling by 1030 Mainly ? How can we see your daily grades and progress - I turned $170k into $59k — so obviously I need to solos your strategy before I’m $0 Thanks for your post! How many buys do you make while scaling in? Is this automatic or manual. What trading platform are you using? Have you had any formal education in sticks etc? I want to get into the market and I’m just trying to figure out what to read. Thanks! That’s amazing goal ... all the best APYP🚀 Obviously what you are doing is working well. Are you deploying a single strategy, in this case the trade you describe sound like ""buy the dip"", which I hear works well for many people. Another question, lets say you didn't scale that trade, you did the limit instead..........have you looked at how much difference that would have effected the trade? I think locking in 50% is solid that is what I do. I lock in 50%. After you take 50%, with the OCO where are you placing your stop? an arbitrary level below where you took the PT? Or at some actual support level? Same with new PT, are you actually setting it, or are you simply just moving your PT to close the trade when you think its weakening? Thanks for sharing, will be interesting to see where you end up. My goal is to make my $5k into $10k in 3 months ,plz help me to reach goal by suggesting me right stocks to invest please . Very nice keep it man ill be following, are you still in RKT? ? i have 2700 shares at 32. Holding I think itll pop again regardless of the divi dates. Do you have a daily goal of like 1% a day? If you posted a redacted version of your brokerage report, I might just believe you. Otherwise I am not sure how you expect people to believe your claims. How many hours a week are you working? How much if that is research? Make sure to drain your profits of 100,000 to another account so as to not let yourself engage in any form of loss Chasing which inevitably tests the trader. Good luck What type of account do you use? And wich broker? Gj Awesome job! Keep up the great work man! Congrats!! What’s scale order? Ay man I wish you the best of luck. I'm not really a day trader but I'll be following your progress with enthusiasm. Ok. Yea Any updates? 8 months after, how's your journey been? Rookie, I made $200k into $5k in Two weeks Congrats to you! Smaller amounts are harder to grow in my experience. Keep up the great work! Can I ask which platform you use? Many require 25k to allow day trading. I’m interested in learning, but not interested in using 25k, at the moment I turned 1500 into 8800 trying to turn this 8800 into 17000 then turn that double. We will all get there takes time, dedication, research and alot of watching. Same here, but I'm nowhere as knowledgeable about trading as everyone else on this thread. OZSC Very kind. I've been trading for six years and finally starting to get it right Rock-solid strategy. It's worked for me! I scan for high volume stocks (1M+ avg daily vol) that are moving (up or down) more than 3% from previous day's close. If I can identify high-probability support or resistance levels, I consider entering the trade. Try cheddar flow, you will be surprised [deleted] A mistake like that could only have happened if you were gambling. Can you give us info so we can learn what you did? Support and resistance levels are all about figuring out where institutions bought or sold the equity. Everyone has opinions on how to read charts, and I have my strategy as well. Too much to cover here but I can recommend some resources via DM. \[**Edit**: I will reply to DMs requesting these resources. I don't post them here because they are not free and people get bent out of shape about that. If you want to know the source of the PPT strategy I use for every single trade, send me a DM and I'll gladly share it. I don't teach courses so I'll be pointing you to those who do.\] Can you DM me as well? Thanks man Answered [here](https://www.reddit.com/r/Daytrading/comments/lzu16g/my_day_trading_goal_100k_in_180_days_progress/gq41def?utm_source=share&utm_medium=web2x&context=3) You should use scanners and then pair it up with unusual activity from things like SweepCast or FlowAlgo Same here For me, volatility is a factor when choosing which stocks to trade and what kind & how big of a stop loss to set. Trailing stops are great for stocks that climb slow & steady; they can lock in profits (or minimize losses) better than a fixed limit stop. If a stock is real jerky/choppy though, your trailing loss could get yanked up a bit then quickly stopped out as price spikes to below it. Where you set your stop loss at depends on how much you're willing to risk on a trade. With a steady climber you can have a tighter stop loss. With a volatile stock you'll need to set a wider stop in order to avoid getting stopped out due to normal price fluctuations. With very volatile stocks though, the point at which you'd need to set your stop could be more than you're willing to risk on that trade. Very volatile stocks also tend to be choppy too. So, I'll avoid stocks that are just too volatile. They can give you some big wins but it's not worth it if those wins are drowned out by a frequent loss rate. Stocks only go down I will be messaging you in 5 months on [**2021-09-03 19:41:24 UTC**](http://www.wolframalpha.com/input/?i=2021-09-03%2019:41:24%20UTC%20To%20Local%20Time) to remind you of [**this link**](https://np.reddit.com/r/Daytrading/comments/lzu16g/my_day_trading_goal_100k_in_180_days_progress/gq4nyoh/?context=3) [**3 OTHERS CLICKED THIS LINK**](https://np.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5Bhttps%3A%2F%2Fwww.reddit.com%2Fr%2FDaytrading%2Fcomments%2Flzu16g%2Fmy_day_trading_goal_100k_in_180_days_progress%2Fgq4nyoh%2F%5D%0A%0ARemindMe%21%202021-09-03%2019%3A41%3A24%20UTC) to send a PM to also be reminded and to reduce spam. ^(Parent commenter can ) [^(delete this message to hide from others.)](https://np.reddit.com/message/compose/?to=RemindMeBot&subject=Delete%20Comment&message=Delete%21%20lzu16g) ***** |[^(Info)](https://np.reddit.com/r/RemindMeBot/comments/e1bko7/remindmebot_info_v21/)|[^(Custom)](https://np.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5BLink%20or%20message%20inside%20square%20brackets%5D%0A%0ARemindMe%21%20Time%20period%20here)|[^(Your Reminders)](https://np.reddit.com/message/compose/?to=RemindMeBot&subject=List%20Of%20Reminders&message=MyReminders%21)|[^(Feedback)](https://np.reddit.com/message/compose/?to=Watchful1&subject=RemindMeBot%20Feedback)| |-|-|-|-| Mine would or does on down days I buy puts instead of calls. I don’t trade on choppy days. Sorry deleted post I read that question wrong I find support and resistance levels on hourly, daily, and weekly time frames, and enter/exit trades based on the 10-min chart. I primarily trade stocks, but also sell options premium when IV is high enough. Same almost OCO is ""one cancels other."" Let's say you buy a stock at $10. You establish a stop loss at $9.80 and a take-profit point at $10.40. You can then set up an OCO order at $9.80 & $10.40, and when price hits either of those two points (either <$9.80 going down or >$10.40 going up), then the relevant sell order will execute and the other one will automagically get canceled. If the sell order is a limit then (at least in thinkorswim) you can drag it to a new point if you wish. If it's a trailing stop, that doesn't allow you to drag it but you can cancel it manually & set a new one. Disclaimer: still a bit of a noob myself, \~3 months' experience. You need to look at the percentage... 100% gain in 180 days is good. I believe they said that their starting capital was 100k. They also briefly explained their strategy. You may want to try to backtest it and see if it works for you. Good luck. Brokerage has HTTPS query capability, so I set that up and have a Google Sheets doc that refreshes periodically using IMPORTDATA function, and Tableau pulls from that. You don’t have to register or nothing like that. You do need $25,000 at the start of each day to day trade. The SEC will only allow a couple of day trades per week. You definitely have to pay taxes on you gains. Options is where it’s at if your day trading. You only make a few trades per day and the gains a huge. Spy options are what I like to trade. The bid and ask are really tight thus making it relatively inexpensive to get out of the trade if I am wrong. If I may make a suggestion, losing 2/3 of one's account is maybe indicative that you're not using good loss management practices like reasonably-set stop losses. As a beginning to intermediate trader you shouldn't be losing more than 1-2% on a single trade. Also, maybe consider sticking to paper trading until you can achieve somewhat consistent profitability (more green days than red, and most weeks should be net positive). Otherwise you're just throwing money away. You're not going to double your money in 3 months from stock tips. You need to actually know how to trade, and that means knowing how to find stocks that fit your particular trading strategy...as well as having a particular trading strategy. You need to know when & at what point to enter a trade, exit a trade, and cut your losses when (not if) a trade goes against you. Being a successful trader takes not only knowledge, but plenty of screen time and emotional discipline. It is most certainly not for everybody. If you want to learn more about trading there are plenty of free resources, like this sub's links & resources section, [Investopedia](https://www.investopedia.com/), and Youtube. I’ve done it one and I’m determined to do it again. Just with Covid and being out of work I’ve had to cash out a lot of my investments. Although I know I’ll get there again! It just takes determination and work! You will definitely meet your goal! Amen. I did it before and lost 90% of all the money back to $2000. Its tough but learning my mistakes was key. Trying with $80 account but scalping. Gained $45 yday on day one but so far down 65 today so overall -20. The day is not over yet so we shall see, but thank you on the scaling in advice! Out of the 100k how much do you have invested at anyone point? I’ve read that you should only have about 2-3% locked up at any given time, but with that little of money being invested I don’t see how one can gain quickly. What’s your methodology for finding trading opportunities? As a seasoned trader I'm interest in your indicators. I use VWAP, 9/21/50ema and a bit of RSI... You,? Cheers i guess it depends what you are trading. for example if you trade e-mini nasdaq 100 you dont need 5000 bucks to start growing the account at a certain rate, you also can have 500 bucks and trade the micros and scale up later once you managed to transform the 500 into 2000 or more. what i would give you however is maybe this: if your equity is relatively low and you can get wiped out with just a few bad trades then you ofc tend to be even more careful (maybe unnecessarily so) which trades you engage in, so you might let trades pass by in which you maybe would've engaged if you had a bigger safety net. You can use a cash account and not have to worry about it. Put 1k in a cash account, trade with 500 on one day, 500 on the next, then the funds from the first day will settle in time for you to trade again. In a cash account, you don’t have a pattern day trader rule and can buy and sell as much as you want... assuming the cash is settled. Remember it takes 2 days for cash to settle. Schwab. You do need $25k set up to officially day trade. That is a SEC rule. But there are some get arounds. For example I can do three within a 5 day period. One you hit 4 you get the day trader. So I do 3. So I usually do those all on Monday . I will also buy one day and sell the very next. So I still need stocks that have the same turn around. When I first started investing I had $1k. Built it up and got my $1k back. Built it up so I had the $25k so I could do unlimited day trades. Unfortunately with Covid I had to close out a lot of my stocks and now I’m working with $3k. Have to look into good faith violations and other ones with buying and trading and set up a system so there is no violations of those. It is a little complicated at first at takes work however it is doable. Not sure what OP is using but if you want to trade without PDT strikes you can do it in cash accounts. Most brokers let you do this and you will just have to wait a few days for the cash to settle. WeBull usually settles the next day for me. I've been doing this with a sub $100 account and it has taken ALOT of patience but its totally worth the excitement of building a tiny account. Good luck! There aren’t day trading restrictions on cash accounts [deleted] Also interested Capital market elite group / CMEG. No day trading rules.I have been approved for an account for a month now but funding next week- really nervous. it’s 125 dollars a month fee- I believe there is an activation fee as well and such, along with an inactive trader fee if you don’t trade enough... and commissions. BUT- with an account with like two thousand you can easily make that money back. Plus the more shares you trade in a month the fees get lowered to a little and also I believe the monthly gets covered after a certain amount of commission has been paid during the month. Minimum first deposit is 500. https://www.cmelitegroup.com Check it out yourself- no day trading rules. Good luck dude! And if you wanna take a break but keep the account open. You can suspend your account and every 90 days pay like 30 dollars or 50 dollars. Something like that. You can try futures and forex Just trade crypto, easier to trade, 24/7 and no pdt rule To me this is the most important piece of information, especially for newbies hoping to make it rich quickly with very little experience under their belts. Best part of this all, 6 years and you never gave up You’re inspiration bro! Keep killing it I see GME is still making you good money. I lost a few thousand on GME, and I'm hesitant to go back in, but it looks much more stable now compared to back in january. ​ Friday had amazing trade opportunities for tons of stocks, and I missed out. As for MDLA, where did you base the support level? The first dip on friday? or the support level for 2020? I see based on 2020 data, the point of control was \~$27. xoxo So, you're a momentum/breakout trader? Do you use algos or purely discretionary? Sounds good! Is that something you do on Finviz? Is it possible to send it to me please? Is it available AH? i keep hearing about cheddar flow. what does it help with? Flipping a monitor is too much trouble. Just go into settings and swap your green and red colors on your candlesticks and p/l charts. If your account looks like mine, you'll be swimming in green! I fomo’d into GME and lost it all thank you. if you can please dm the resources you used for learning, thanks man I’d like that DM if you’re not too inundated Yes please DM me! :) would like a DM to look at the resources you mentioned. thank you and best of luck! Hi there, would love a dm pointing out said resources. Thanks mate Would be interested as well! Please DM me. Thankyou! DM please! If possible. I like to know what resources also I want to be DM’d too Please dm me the resources too! I'd love it if you could send me those resources as well, thank you! would appreciate it if I can get it too. Thanks bud! Hey, if appreciate if I could get those resources too, I don’t mind paying to learn DM me as well please. Yes, I'd like to know more, thanks. Pls dm me as well Please DM sources. Wouldn’t mind a Dm as well. Thanks! Aye aye captain! I’d like to learn from your awesomeness as well! Could you share the resources with me too? Thanks! Me too please Me too pls! Any chance you share with me also? I’m interested too, if you wanna talk about your strategy here. Thanks. Would like some resources as well, thank you! I’m interested in your resources as well. DM please? I'd love that DM please. Thanks! Yo could you DM me too? Thanks Same >ng out where institutions bought or sold the equity. Everyone has opinions on how to read charts, and I have my strategy as well. Too much to cover here but I can recommend some resources Can you dm me as well. Thanks. Hello thanks for the assist. Would you DM me too? Interested! Can you please DM them to me too , i am there in same boat I’d appreciate the resource too please. :) I would appreciate a DM for this too, congrats on your success! Please could you DM me too? Thank you! Would you please DM me the info as well please. I would appreciate it. There is so much info out there, but I always like knowing when someone has been successful with a strategy Also interested in sources Would you mind DMing me this as well? Thank you! Could you DM me the resources as well? Highly appreciated Jumping on that DM train... Thanks for the write up here, this is great! I'd be interested in a DM too. Thanks in advance. i would also like to get those resources please DM also 🥵 Would love a DM as well if you get a chance! Can you please dm me too? DMing as well! Could you send me the resources as well. I could use all the help I can get. Even if it doesn't work for me. Every day I try to learn something new about the market. I'd be interested in taking a look if you could DM! Hey! I’d really love to receive the resources as well if possible. Thanks!!! Dm please? I'd appreciate these resources if you can stomach another copy pasta please! Would appreciate your DM please! Can you DM the link to me too please? TIA! I'm sure you have a few DMs to send to out but if you'd send me the resources you use that would be great I will love to get a DM too!! I agree I need to look into how to do this So when I buy - I automatically set a sell limit if price drops say 5-10% ? What do u recommend I do I appreciate your help!! And trust me I need the help!! Hell yeah get it sparkly Those who don't learn from their past are doomed to repeat it. Following your own rules because you're scared to break them is the key to trading success imo. 2-3% per move/trade, not total all at once. So if you have 10k you would only buy a stock or option worth 200-300... but you could do that multiple times in a day with different securities. If you’re following that rule... I experimented with different ratios, and learned with smaller accounts never to over-position yourself. Lost about $10K in a short position once because I kept averaging in until I couldn't anymore, and then the price continued higher day after day and the margin calls began. Currently I allocate the account to up to two full day trade positions. I have a spreadsheet that tells me how much $$ I can put in each trade based on margin terms and risk. Most trades I start with 1/4 position and add more if the price reaches my level or pierces it. RSI only for color, especially in this frothy market. 20/50/100/200 SMA are gospel. Been experimenting with intraday VWAP, observing patterns. Would love to hear how others use it. Yes, you can do exactly that. It’s the T+2 rule. But if you use $500 on Monday, $500 on Tuesday, them on wednesday before the market opens you should have the $500 you used on Monday in your account. Many do this. Sorry, want to make sure I fully understand this. What’s the difference between a cash account/individual account? hey if i could ask a question, have you used streetsmart edge? do you know if as long as the ""day trade balance"" is not zero, i shouldnt get striked? i traded once like 5 times in a day and was OK watching that bal but just want confirmation I’d love to chat with ya one on one pm me \> For example I can do three within a 5 day period. One you hit 4 you get the day trader. So I do 3. For a cash account with Schwab, there are no restrictions as long as you use settled funds. You can trade 100 same day trades as long as the funds are settled. T-2. The restriction you mention only applies if it's a margin account with less than $25k. You should make that clear as a ""work around."" When you sign up with Schwab, you automatically get a cash account. You have to apply to have a margin account. WeBull settles on the second business day. If you sell on Monday, that cash is available Wednesday morning. Definitely not next day. A $20,000 to $25,000 balance is required on most sites to day trade. RH I know does this because my account was banned from trading for 90 days a while ago because of just this. [deleted] Also $4 per order, so watch out for that. Scalping strategies can be expensive with CMEG. Stay away from CMEG, not worth it. You will wipe out your account in fees. Try Future trading, no PTD rule. Or cash “option” trading. Careful they'll drain your account with fees. Try not to fill too much orders they are expensive af. The more you learn the more you earn. GME maintains an IV around 400% so I've been selling options premium while it lasts. MDLA support was based on three factors: gap fills on daily and hourly and ""scene of the crime"" institutional buying levels. Look up “party scanner” finviz tutorial on YouTube and you’ll get the setting you are looking for. Yep. Just set the average volume option to “Over 1M” and I like to set Volatility to “Week - Over 15%” but you can do more or less depending on how much change you’re looking for. AH? Got to see it to believe it lol, visit the site and browse around, not an affiliate but a happy customer :), Just seeing this. Will send shortly Hey I’d appreciate a DM as well if you get a chance. Thanks a lot. Could you please share the resources with me too? Thanks! Honestly, just try to get a lot of screen time (a few months, minimum) in a paper trader. There are many strategies out there, none of which is a holy grail or money-printer (otherwise everyone would be using it) but most of which can be made to work with knowledge, experience, and discipline. Trade entry & exit decisions need to be made analytically, based on your strategy, and not based on emotions or your gut feeling of what a stock is going to do next. I speak from experience when I say your ""gut feeling of what a stock is going to do next"" is a great way to lose money consistently. And yes, you absolutely should be using some kind of stop loss with your orders. 5-10% is a bit too much of a drop for my tolerances, I usually use 1-2% (with a preference towards the 1% side) for my stop losses. You should note how volatile a stock is also; if random price fluctuations are going to cause my 1% stop loss to get triggered in short order, that's too volatile a stock for my risk tolerance level and I'll move on to another, better candidate stock. (It's not like there's a shortage of quality day trade stocks out there!) If you're still looking for a strategy that works for you, Youtube can be a good resource. Trading Rush and The Secret Mindset look at a lot of strategies; be sure to check out, and then try, several strategies. Ditto with various technical indicators. This sub's Resources section is a good place to check out too, along with [Investopedia](https://www.investopedia.com/). I have an urge to conclude a lot of my comments with ""good luck with your trading journey!"" but luck is precisely the factor you're seeking to minimize with a good strategy, and the discipline to stick to it. The less your trades resemble a trip to the roulette wheel, the better you'll do. Knowledge, experience and discipline are the 3 ingredients for success. And all take time to develop. Makes sense. So one trade at a time at 2-3% or multiple trades at once? I get you can trade multiple times in a day, but I’m curious on total exposure at a given time. Yeah. RSI is only useful somewhat... and even then I'm wary. I don't really care what it's relative strength is... I care about volume and volatility. . I use VWAP to get a sense of the markets rolling strength. Essentially I like to see prices pulling away from the vwap with volume. I especially love it with order flow. To see buyers absorbing pressure at the vwap, as it signals to me a probable break away with speed. That plus a brush or hint towards / away from moving averages gives me a clear enough picture... Add in some key technical levels and... Confluence is king. Fibonaccis are nice, but not every time. Maybe I'm silly to use it to confirm my ideas, but when the levels match up with key support/resistance levels... I'm rosy. Otherwise I tend to discard it as hocus... How many times can you buy and sell with the 500$? Cash account you're just playing with your cash. The other type of account, with the day trade limit is a margin account. With a cash account you have to wait until the funds settle before you have access to them to trade again. Usually 2-business days but that can vary based on broker. When you do instant trades that give you access to your funds immediately you're borrowing those funds from your broker until they clear, effectively using margin without interest. I kinda like sm edge but kinda gross ui too If it's a cash account, the restriction does not exist. If it's a margin account with less than $25k, you have to track it yourself. Brokers want you to take responsibility. When you sign up with Schwab, you automatically get a cash account. You have to apply to have a margin account. Yea t 2 Typically, yes. But I keep waking up with money settled the next day so I’m not gonna complain. I repeat again. Cash account are not restricted on day trading. Disable margin on your account and you can day trade as much as you want. lol it's perfectly legal You need to call CMEG to change your fee structure to per share vs the default per trade. Otherwise, your account will die from fees. My experience with CMEG wasn’t that great due to the costs of managing the account from overseas. Wire fees are $40+ per transfer so if you don’t grow your account quickly you are going to lose a ton. I don’t suggest using CMEG as a newbie trader. Also, they don’t send you any tax forms so if you live in the USA, you are in for a lot of frustration tax return time. i'm trying to understand your analysis. I'm looking at the 1h and daily chart. can you elaborate on how you know where institutions are buying at? and where the gap fills are? Party Starts? Thanks! Great thanks! Does Finviz screener work well for you? I’ve tried using its screener with the Moving Averages filters but it’s giving stocks that definitely do not match what I select since I can see where the MA should be on my charts Use SweepCast.com it’s much cheaper and similar After Hours Greatly appreciated My total exposure is usually around 90% so I have 10% liquid that I can move in a hurry if I see something good. But that’s having some in stocks that are short to mid term gainers. For specific day trades the amounts vary. Also I use the 5% per trade rule not 2-3. And even more if something is truly blowing up and I can get in and out It is a cash account dude not a margin [deleted] The weird thing is that they have no per-share structure listed on their website. After a lot of searching I found one through a coupon code. Have you just outright asked them about a per-share structure? Yeah I have a similar problem with the average volume filter because it doesn't seem to exclude outliers. So a stock will have 1 day of 20M volume, but daily average is only around a few hundred thousand and it'll still show up in the results. I try to keep it simple with FinViz just filtering on price, volatility and average volume, but usually a little bit of manual filtering is involved after that. Overall it's been pretty good... I would prefer to use something like Think or Swim but currently only have a Fidelity account and haven't bothered opening a new one with TD yet. Do you have any suggestions for different screeners? Cheaper isn’t better lol JK. Very happy with Cheddar though Yes, I think so, you can try it free for 7 ays. Thanks, I appreciate the insight. I’m revamping my exposure strategy as I’ve been a bit too conservative and want to take on larger positions. This helps a lot. Okay well I have a Robinhood account and can say trade as much as I want so maybe check your account. why would your account get locked? > it doesnt seem to exclude outliers and why would it? if the avg volume is over the threshold it shows you the stock, that's what you told it to do. Just checked, it’s a cash account as well as my Webull and Fidelity. The Webull account I traded on the same day a few days ago and was given a warning for day trading. That account says cash as well and I have to fit specific guidelines to make it a margin. You’re not wrong, it’s doing what I told it to do, giving me an average. I guess I should have said I would like an option to exclude outliers from the average. If you have instant settlement for deposits it will still restrict you because you are not using your funds. You can downvote me all you want but there are no day trading restrictions on cash accounts. Try again. That’s regarding cash settlement not PDT I didn’t downvote you so" Damn do all these graphs look similar or is it just me. 🤔,1407,https://i.redd.it/ecpg3fzrwwy61.jpg,"Ah... The long awaited WSB ETF. It’s all a fugazzi Is this the r/wallstreetbets ETF? Enter bear market-> gme explodes-> invest it all into crypto and tech for 2022 mega growth explosion PLTR is actually a good play now. Not moon play or any of that but at the current price, it’s a good long play. It's a great selloff. And i agree with another comment: Looks like a huge WSB account. I also see the +7,79$ stock you tried to hide there hehe (Gamestonk). Enjoy the show. AMC and GME don’t 😎🤔 Correlated companies in the same sector. 🤷🏻‍♂️ The one cropped out looks like it’s doing OK thats a sector pullback This sub is a joke. The top rated comment is about a long term hold on a day trading sub and this post contributes nothing to the topic of day trading as well. NIO was lookin good at 30.80 Holy shit, this portfolio is peak WSB haha Not a surprise. NIO is down 3 times as much as the others and you can't tell from the graph “Everything is manipulation” -every WSB trader that thinks they know what they are talking about And? Just like it was said during the gme saga where people were crying mArKEt MAnIpuLaTIon because gme and amc charts looked similar, this is a very common occurrence between stocks that are traded by the same groups of people Just you Its the sector bro. Check out basic materials and energy Everyday since February Damn are all those stocks in similar sectors or is it just me? Blackberry babyyyy Yeah, weird. Must be inflation fears.... Lol entire market tech/speculative market is in a pull back from highs. spy is already way too high on the overall uptrend (look out and check trend lines). not to mention that we are dealing with inflation pressures (which leads to overall rotation into value). you have to look at the broad market before speculating that things are being manipulated because many things are pulling back right now. cant hang your hat on manipulation because there are valid reasons. MVIS hates me, I swear every time I touch it it drops Definitely not just you, look at the main cryptos,(doge ethreum eth classic, bitcoin (sv , cash)) idk what’s going on Please save the conspiracy theories for WSB. What’s that app? I mean all tech stocks have similar charts for the most part I believe in technical terms that would be called a yeet Yeah, this is WSB as fuck. Thats why it looks like shit I see that GME at the top... Everyone is shorting Cathy Wood rn TWTR, SPY, and QQQ look the same as these. What’s your point? Same thing with crypto. I think the hedgies just manipulated that way for easy control 😂 Ah yes, being shorted for GME. My time has come. Welcome to the rigged stock market. :) Is this a joke Except GME! MOOOON Stocks all sell off at some point. We can't expect stocks to not pull back at some time. Look at historical data. Everything has a pull-back. We're experiencing it now. There was someone that posted an interesting piece on darkpools being shut down re meme stocks. I believe it was how hedge funds were able to close their positions without affecting the price too much? And those got shut down in a NY court and that's why everything else is selling off and the meme stocks are going up, because they're having to close out all those positions. I wish I had saved the link... :/ sorry GME AMC and NAKD are all green finally actually so mine looks different Hedgies trying their best to short the whole market so they don’t lose GME There all moving with the nasdaq Great DD you son of a bitch I’m in It’s a hedgy etf lol How do you trade from WeBull? Those fucks take 10 days to deposit/withdraw money This phenomenon is known as a Biden People are selling to jump on AMC train. No market manipulation at all😂😂 Hedgefunds liquidating other positions to cover their amc shorts. Cathie invest in PLTR, stay away Makes me think that the market is rigged... Hedgefunds are fucked All stocks and crypto keeps moving in the same graphs something has going on for a few days and most of us don’t realize who’s doing it All ducking hucking week this has been happening ... it's the biggest ski slope ever! i trade $5-$25 stocks and all of them looks like this. there's also no major support left after tuesday and all i can do is wait it out They're all going in the same direction too.... They’re all in the same sector How did you screenshot my portfolio? all of them say buy. Your brokerage has different names for the same stock. GameStop green You should add in EEIQ. Citadel & friends are also shorting international education. Diabolically psychopathic. All tech of course they’ll be similar. Just you My cryptos all have a similar pattern too. I’m sure there’s some kind of fuckery happening to make them all trade exactly the same way and the same time. I have mostly the same list...patience, I guess Now look at amc and gme Na I’m looking the same Why BB still in business?? This made me chuckle ! Has Reddit footprint all Over it Looks like mine humm.. Maybe cause most stocks follow the market? dont fear the red, manage the loss, unload partial to stay afloat and prevent margin calls. be patient, the greens will be back. It's called a market crash. Get with the program Stocks of a feather flop together Take a page from Wu-Tang financial and DIVERSIFY Manipulation. Sit back and let the whales do there thing. Have your position, and ride when the whale rides. It's just you you sir, are a bag holder Tech Equities are highly correlated. Wait. Companies in the same industry have similar graphs? No way? Get this guy the economics Nobel Prize Crypto charts look like that every day. Got to love those trading bots. Lol Yes like mine..Bleeding..... Can someone please explain why AMD and NVDA are dipping like crazy? I wont lie in working on a project in python to help me analysis this trend amongst multiple companies. Hmm sure theres a youtube video on this 😅 Computers running the show The system is rigged guys. Manipulated. Don’t ever trust. Selling to cover their gme and amc positions lol 😂 Automatically buys you random options every week. Wait you guys are supposed to make money? Amd, nio, and pltr are good plays regardless if they are favs of WSB Bahahahaha I hope this is NOT the way! HAHHAHA Do they still do the marble rolling technique of choosing stocks? Gme and amc are missing It's a wahzy it's a woozy It's not f*ckin real! Its like fairy dust tootskie? Glad to hear someone else say this Fpfpfpfpfpfpfpfpfp My thoughts aswell - not sure if the selloff is already finished tbh. I don't see any major resistances on the way down. It bounced from 16.35$ two days ago. Maybe that is the resistance and it will now move back to \~21$ cause that seems to be a good support/resistance. Fibonacci retracement has the 78,6% support at 18$ .. If it holds the 18$ and attacks towards 20$ it might be a buy. But in this moment I'll probably wait and see what happens when it goes in the 18$ direction again. Whats your opinion? I am quite new to this aswell. This Cathie? Waiting for it to go beliw 15 then i will scoop a bunch No it is not, you guys said this months ago Avg down? Got it. Sorry on what basis do you make this assertion? P/E is at 100. Earnings growth has slowed. Do not buy anything based on ""price is a good buy at current level"". Use price action ONLY to decide whether to buy stonks. You have zero insight into a stock or company. Edit: this is how I would buy PLTR (the circled area): https://imgur.com/VYHV4Ha Have you noticed the number of US Govt RFPs being issued that mention wanting to replace PLTR software? DoD, DoJ. Too bad I bought months ago... Would have been a nice day trade when you called it. Up 8% today Why hide it??? Ya boy hodling strong 🤌🏼💰 Also Koss and Express Say what you will but that doesn’t correlate to their graphs looking exactly the same. They are each different companies. It’s ironic how similar they are. [deleted] Honestly if you come to reddit and expect infinite wisdom idk what to tell you. Every stock related subreddit is a joke where you been I mean I’m not saying this is manipulation but all these stocks follow the same trend. 🤷🏼‍♂️ That sector is ""WSB built my portfolio Q1 2021"" Then buy puts on it Webull I highly doubt dark pools are going to be shut down. I actually use Charles Schwab. I just use Webull cause it looks pretty 😎 > 10 days to deposit/withdraw You don't have to do that for each trade. I drew out some money on webull to see how long it takes, next day it was at my bank. Maybe that was a fluke for me. Shhh he’s the best! We love inflation, gas shortages & war in the Middle East! So is AMC which is right above the GME. Ya boy been drinking kool-aid since Jan 2021 Would probably still outperform me! I am intrigued by your ideas, and would like to subscribe to your newsletter. Ok that sounds fuckin hilarious. Option roulette in a WSB etf That’s r/wizdaddy … a value investment device created in the before times. #*Rando-Tron has entered the chat:* You Son of a *Bit*, I’m in! If so, I’ve been doing it wrong. I was buying stocks to put into my heat map to make a picture of a 🍅 No no no, Its Buy high sell low. :D Only on off days anything deviating from the spy and in play is a good play, even GME is fun sometimes My dude - check the top of the screenshot… Pass it Pass it I dumped mine at a loss yesterday to put the money into steel so it’s probably a great time to buy in. You are correct. I personally like to wait until after the bottom hits. There will be some consolidation and possibly some lower dips but overall for the long term I’m comfortable not trying to tip the lowest point as exhilarating as it may be. Happy trading The market has tanked for the last 3 weeks and PLTR is one of the few stocks that have remained somewhat unaffected by this major sell offs. A lot of fair price upgrades from analysts like Goldman Sach and many more catalyst to come. I’ll paperhand at 25 most likely 🤷🏿‍♂️😂 New wood, who dis?! ARKW and PLTR were mirror images today. The name..lol Bowed to the left and bent to the right....best chub ever!!! Yeah they've been saying that since the $40s and now it needs to conveniently double just to break even but it might as well halve instead. Exactly. There is nowhere to go but up from now on. average down and hold forever, praying to break even one day sounds like wise investment Not sure why your getting all butt hurt about me simply saying PLTR is a good long play... I have close to 10 hours into this specific stock over the last couple months. Assessing technicals, sentiment, all the fun stuff. The technical analysis in this stock is good but not enough to buy on alone in my opinion. They have not only customer count growth but also the average revenue per customer growth as well... 29% yoy growth avg customer rev. Now, their top 20 customers average rev is up 34%. They are positive in both cash flow from operations and adjusted free cash flow. Last year yoy they were not. Happy trading, hope you make money. Just be aware, you bring that cocky attitude into the market, you’ll get your ass spanked.... and people like me will end up eating your breakfast, lunch and dinner. Not surprised. Maybe because it wasn't part of the pattern they were talking about? Yessir. Since late Jan and averaged down in Feb Just got into these yesterday and I'm fully up. The real meme stocks have absurd negative betas. Also, NAKD for the leftover change. Google what irony means. It’s not ironic. There’s no irony in this. Mutual fund sell orders tank stocks because of their size and they sell put of whole sectors. This is known. Stocks move together a lot, it happens [deleted] They are similar but they are not exactly the same Wish the mods would do something I don’t expect big time wisdom but I do agree with the sentiment that none of this belongs in this sub. I remember last week there was a post about GME where a bunch of apes criticized those who daytrade GME because it “hurts the squeeze,” like what the fuck is this sub if it’s not about daytrading. Got to find the underground subs There are some good small subs Markets often show similar trends especially during sell-off times. Compare the charts to SPY and QQQ, then you will see it. Its almost as if the big investor's company valuation models are reacting to the same economic risk factors, maybe that's whats driving the selloff? Hmmmm. It's missing GME *Lol upon further inspection I can see it peeking out of the top You look pretty. oH Yeah because Biden being in office for 3 months has a direct impact on inflation. Seriously, do you hear yourself? Yes ! 😀 Here's a sneak peek of /r/wizdaddy using the [top posts](https://np.reddit.com/r/wizdaddy/top/?sort=top&t=all) of all time! \#1: [Full Wizdaddy is now available! Pray to him now.](http://www.wizdaddy.io/) | [8 comments](https://np.reddit.com/r/wizdaddy/comments/8q7hcs/full_wizdaddy_is_now_available_pray_to_him_now/) \#2: [Wizdaddy FAQ](https://np.reddit.com/r/wizdaddy/comments/8pb7lb/wizdaddy_faq/) \#3: [Here's where I started using wizdaddy.](https://imgur.com/WfQ6MAL) | [4 comments](https://np.reddit.com/r/wizdaddy/comments/8q9mj8/heres_where_i_started_using_wizdaddy/) ---- ^^I'm ^^a ^^bot, ^^beep ^^boop ^^| ^^Downvote ^^to ^^remove ^^| [^^Contact ^^me](https://www.reddit.com/message/compose/?to=sneakpeekbot) ^^| [^^Info](https://np.reddit.com/r/sneakpeekbot/) ^^| [^^Opt-out](https://np.reddit.com/r/sneakpeekbot/comments/joo7mb/blacklist_viii/) That was always my motto in life! That's why I bought Velodyne and Luminar stocks at their peak! I'm new here. Can you ELI5? I know they say to compare to SPY... but deviate what? Ahh now I see it. Not sure this is an effective alpha seeking strategy... You just described my dick lol I mean, it can still go down. this market makes no sense lol i'm holding 75 shares of PLTR but it could be a $5 stock. Wisdom comes in many forms, I'll let you know when I possess one of them. I hope you’ve done some sort of research other than pray... Wait wait... Where am I butthurt? You must be long PLTR. [deleted] yea /u/fly4seasons this sub is all about confirmation bias. get with it! I'm up 100% on that meme I got in at $220, averaged up at $240, and now I've averaged down to $180. I would have averaged down some more when it was $140 2 days ago but the rest of my stuff is in crypto. Rough day at the market guru factory? [deleted] Exactly. I’m not entirely sure if the moderators on this sub are even active. And green on top of that lmao Look at the executive orders bud, it’s not rocket science Good bot. Praise wizdaddy Sir, this is a casino I think he means that most charts roughly follow spy chart. And anything that doesn't is interesting as an outlier and potential for putperforming spy Yes it does. You just have to know what's going on. praying is all you need in this casino get in, get out. [deleted] All is well Lol I feel ya. I’m scrambling for buying power sometimes between amc, GME, and doge We attracted dumb npc people, now they vote. It seems like they aren’t, which is unfortunate. Listen man, I read every crypto sub out there all day at work every single day. I know whats going on. And I still don't know what the heck is going on here lol wants others to join his crappy trade [deleted] Listen man, I was hoping someone was going to ask me what was going on, because I was going to say, I have no fucking clue. I’m up 8.5%… I’m not sure why you care but I’m happy with the long play. My comment stated that I like it as a long play. If you look right above the words, I’m sure you will find a number (177) followed by a “d”. That means I commented that 177 days ago… it’d be silly to for me to move in and out of positions every 177 days (assuming I bought all of my shares on that same day). 🤣🤣🤣🤣🤣" Ride the wave,1400,https://i.redd.it/ud4ipc01m6o71.jpg,"I think r/wallstreetbets would like to challenge that opinion React. Don’t just guess tops/buttons. Waiting 5x longer before placing the trade will benefit you way more than calling out the tops Buy high, sell low Shaka bro I like the analogy. Saving this one to review from time to time as a new day trader. May even make a poster Exaclty Bet 💯 Well shit. If that's the case I'll never be a good surfer. That’s a really good analogy for trading. Imma steal it. Hedge funds with billions and market makers working for them laugh at your meme.""We ARE the ocean!"" I think of stuff like this every time I surf it’s true. So many similarities In surf lingo it's known as being slotted. Being in the exact right place at the exact right time. This doesn't happen by chance. It's a combination of time spent in the water and patience. So yeah, great comparison Very true - but so is the comment about r/wallstreetbets wanting to likely challenge that position. Because now we know that in addition to waiting, we can also band together en mass and ""make a market move happen"" This used to be true. Now trading is more like surfing in a wave pool lol all of the 'wave conditions' are predetermined by the rider with the most money This is so fkin stupid and clearly written by someone who doesnt surf. Waves are very consistent and even a first timer can figure it out after aobut 5 minutes in the water. Waves absolutely come in a fairly predictable pattern. Sometimes you get a lull or a larger set, but the timing is pretty obvious. Sometimes they catch the wrong wave, but they just start all over again… never give up 🚀🚀 Very true. How do I identify a wave coming? Yeah and some people are trying to surf in the cannel! Just saying 🤣 Repost to r/surfing for more karma WERE ABOUT TO CATCH SOME SICK NAR NAR Please precisely define the word ""commit"". Thanks. ....commit w your whole life savings? Mmm probably not. Ummmm...sounds kinda poetically fruity. Qudian QD pe ratio 1,32 🚀 (last call to passengers) Instead, it's look for someone else trying to catch a wave and doggy pile into that persons wave hoping they know what the hell they are doing. Cause so much commotion doing so that they inadvertently create a tsunami. 😂 They figure if they all jump into the ocean at the same time they can create and ride that wave lol brah* Quote is ripped out of rich dad, poor dad by Robert Kiyosaki Well it's wrong so maybe hold off. Nice AI response That’s not too bad of an analogy. Riding the wake of bigger traders. So you're saying you need to recognize the pattern, and wait for a good one? Doesn't every 13th wave tend to be a bit bigger than the rest? Or is that just a random myth. This dude is a 50 something from Malibu or I’m your Irish uncle…. Stock screeners Lmao exactly. Then they all get dragged down. Shockingly accurate SoCal surfing Mahalo 🤙🏼 Huh? Close, every 12th. but it’s every 13 on Sundays" My super simple daytrading strategy: Riding pumps,1393,https://i.redd.it/yrec8wiwdvz61.jpg,"So basically buy high and hope it goes higher? You have to respect the pump. Use a paper account to practice before trying this for real. You will need a TradingView Pro account with Data Subscriptions for Change from Open % to update in real time on the Stock Screener. This strategy essentially scans for stocks being pumped on that day and enables you to buy in early to mid pump to scalp some profits. [deleted] I’m not so sure this is a strategy, as much as it is gambling. But if you’re making money, congrats That fossil chart is an exception. Intraday trends 1min chart usually have 2-4 waves, that one has many more. Whats the timeframe there? How many times did you try this strategy? I’m not typically a fan of posts about trades taken and whatnot, but I love the simplicity of this. A lot of experienced traders who I’ve heard talk about the generalities and basics of trading will say something along the lines of “trade *with* the mechanics/structure of the market, not *against* it.” Don’t get in front of the whales, follow in their wake and get your fill of market scraps. What platform do you use? Mind sharing your filters? I can't believe how much negativity the OP and their strategy are getting. Personally, expanding my reading, knowledge and understanding is why I roam around on Reddit and reading experiences and the strategies of others, whether you agree with them or not, isn't going to hurt. If you're intrigued by it; learn a bit more. If you think it's shite; move on. But what's the point of knocking someone when they're prepared to put their own thoughts out there. We wouldn't have half the knowledge we have, without people putting various thoughts and opinions online about their trading experiences. When do u sell? Anyone know how to do a ""% change from open"" filter on thinkorswim? I use a somewhat similar strategy--buying an upward-trending stock while it's above the 34 ema, and using the 34 as my stop loss point. Stock selection is critical to this strategy though and the part I'm still working on, and I'd like to try using a % change from open filter. My entry would have been in that consolidation on the pullback a few minutes after yours. I don't trade in the first 20 mins either. Good trade. You should keep an eye on the float% that is traded the RVOL and the if the volume is increasing or decreasing. Also keep the charts with the important variables. Keep everything clear and disciplined. This kind of works. Until you put it all online. And then they halt trading. You get hit with that a few times. And it’s ouch! :-) Happy trading. :-) Please do not follow any of this smh. Do not give hopes to traders thinking this is even close to having any statistical edge what so ever. Show a report of 150,000 random attempts and give us the overall p/l you’ll be amazed how deep in the red people are. Again the data typical retailers see and collect is nothing compared to the module firms have ready to deploy. The title caught my attention but nothing about this is ""simple"" for noobs that entered the market late 2020/2021. Been wanting to ask this question for a while but didn’t wanna come off as newby&greedy but where do ppl even find these pump and dump cryptos This work especially well near ath’s Why? Because people have no reason to sell Uh. Will u do it for me? How do you deal with Wash Sales? /r/BTTGANG Seems mostly like a Williams Alligator FOMO what programs do you guys use to track all of this? what time zone is this based on? It works til it doesn’t lmfao Nice Use Twitter “influencers” watch the “alerts”, jump in with a set profit in mind and don’t get greedy. And of course stop limits is a must. Pump up the jam Interesting Ballsy What brokerage is this? I want to learn this kind of type! Teach me. Love the pump! Hate the dump! Yes, but it only works after 10am, that’s the key. yes and i luv it Did he just disrespect the pump ? Pump the jam 🎼 Can’t stop the pump 🎵 Can this be done on ToS? Honestly subscribing to an alert service gives me a solid watchlist and I look for top gainers in last 5 minutes and volume. If they have a catalyst on the watchlist and haven't ran too far already I go in. Or thinkorswim has a scanner and that’s free Momentum trading is easier when the market is in a steep uptrend This is an important point, finding out when something works is just as important as finding out what works. [deleted] It’s called momentum trading. Google it and you’ll find loads about it. Its not so easy though. Sometimes the bottom drops out. It’s about as much gambling as anything else is with stocks. TradingView Indicators I use are: Chandelier Exit, PpSignal Slope direction line (scalp) and 200 EMA Filtered Parabolic SAR Thank you, my thoughts exactly. Always try new things from time to time especially if your current strategy isn't returning the results you want and keep what works, discard what doesn't. At the bottom of course Depends on various factors, if a huge surge occurs (over 5% in under 5 minutes) I sell at the first sign of the candle going opposite direction. Otherwise slow gainers I ride the pp signal slope on 200 back period till it turns red. MACD can also help with identifying potential exits before a huge dump. I second the ToS question! There are 10million youtube videos on this [deleted] Like which ones? Following Twitter “influences” and jumping in with a set profit in mind are two bad advices. Official news and your own analysis could do wonders you know.. That’s just praying that the market continues this 2 day trend lmao. Please don’t make the mistake of thinking that’s all there is to it Disrespect the pump Get dumped The power of the pamp always comes back to you if you respect the pamp! Pump it up I second the ToS question! Difficult but yes. TOS paper trade stock chart is not live but their DOM is. When I used to paper trade small caps I used to get the Live chart and placed my order on the Sim DOM. Do you have examples of such servic s? In your opinion, how do your determine when have they ran too far? Agree...But how to profit in our current environment? In other words, everyone is a genius in a bull market If OP isn't using arbitrary stop/profit points, and is using some statistically confirmed indication for exiting, I'd say this is def a strategy akin to momomentum trading. Can you give any insight into how you use the information from your other screening columns? I’m setting mine up now and feel like I can get a good idea of some of those from the chart, but how do those variables factor into your decision making? does it have app? wait for the peepee signal, got it. 200 back period- what time frame are you looking at? What about MACD would you be looking for? I just use %change on that and it gives me a pretty good idea. You can also add a study or pattern type with add filter -> study/pattern He's not bashing day trading, he's bashing this specific strategy (if you can even call it that). Trading in the way OP posted has no statistical edge. Because it’s the truth, and if you had any clue what firms have, in terms of tools, data, speed, modules made from the most brilliant mathematician with quants, you and any retailer under 5years will never beat the market ever statistically. Show me a study that say other wise. Blunt as it may be, retailers can pretend they master all these TA, charting, “algos” don’t kid yourself. Intern at a firm and you’ll get humbled. It’s super risky bud De Large has a reputation. Pump pump I too second the ToS question! I think you just need to contact TOS support for live paper trading TOS absolutely has live data with paper accounts. All you have to do is message them and say you want live data then they turn it on for you Benzinga If I can't find entry before they've gained 4-7% since open I consider it too risky (usually). Should also mention I focus on small cap high volatility stocks so 4-7% is actually pretty conservative. Also like a quick peek at 3mo and 12mo chart to see if price is somewhat steady outside of current movement. Puts in everything..... haha. I'm in your boat. I'm rarely doing day trades right now. Just buying things that are undervalued when I can. And I do watch some of the tech stocks that pump, because they almost always plummet the next day since February. I'm reluctant to short because everything is so oversold, but when it's an obvious setup (See AMD almost every single morning after open) I take a few here and there. But my major transition from this period has been from day/week trader to swing trader with 6-12 month time horizons. I may he shifting that time horizon to 18 months soon - at which point I'm just investing haha. This choppy bs is not conducive to any effective day strategy for me. Most of my decision to buy or not are based on the indicators I use, other screening columns aren't very helpful for scalping intraday stocks or I haven't found any that are yet. For instance, rebound stocks can be all red in the other columns but up by 20%+ for the day and a lot of instances the most pumped stocks for the day have little to no after hours trading action. You want to day trade with a phone? [deleted] I'm aware of what firms have at their disposal. Yes, trading is difficult, and most don't succeed. But anyone who has some brains, the ability to learn, multitask, and can follow a strict plan, can turn a little profit. Comparing retail to smart money isn't really a fair comparison. Of course a 35 year old who trades for 1-3 hours a day with planning and research on the weekend won't be beat a hedge fund statistically. Man power alone. I'm aware OP might not have the greatest edge, or plan in the market. But if they have even a 60/40 success scanning for runners and scalping off support and resistance with some indicators on the side, that's fine. I'm 26, been trading for 3 years with a couple thousand. Its grown. I'm profitable, most days. It's fun, and that's enough for me. Spreading FUD is bad for the trading community, could encourage people to develop stricter strategies, or offer advice instead. Then why are you in this sub? Rofl. It’s going to be filled with all those retailers so I guess based on your view we should just never post or discuss anything because we’re all gonna be in the red. One pump chump Live paper trading is available with 500 in a real account. However he data is still a bit delayed but was good practice for bit [deleted] Do you have live paper trading charts for stocks on TOS? I think it’s still like 5-10 seconds behind, but works well.. Thanks I'm going to go ahead and message them! And have $500 in the account Follow up question - what does your entry point look like? I don't understand the chart at all. Your buy point is on a line that just appears out of nowhere. For the day trader on the go There is no indication that what OP doing is scalping. In fact he seems to be holding for minutes if not hours. There is also no indication that they are planning out these trades. It seems like they are buying stocks that have gone up and keep on buying as it goes up (if it does). I’d be wary about following this strategy. You don’t know what we have ready to deploy in certain conditions. Have you worked or intern at a hf or prop firm? Spreading FUD? I respectfully disagree, there is nothing wrong with giving the truth, regardless if people don’t want to hear it. Giving the warning of retailers being so little equipped and up against in trading, is far from any FUD. If not, explain how It is. It’s actually is encouraging people to think twice before stepping into a field knowing the risk. I also see it as playing devils advocate, with someone who have insight and makes modules for traders. Trading is just a game for you so that makes sense but I’m speaking to those who want to actually put big money and not a few thousand which doesn’t have skin in the game. To know that it’s not in their favor to be a discretionary trader or consistently profit having a positive expectancy. Post your p/l and that’s my answer. Forest Gump Same, i remember it being a bit of a pain because i couldnt find it on mobile, and once i got a pc i remember hitting an error a few times, then not seeing a change till i logged out then logged back in. But for sure dont have any money in my tda and have real-time from signing some things Oh, I think that's just TOS in general. Not always of course, but TOS can be pretty fucking laggy some days. To clarify the service I use gives an entry range. If the stock has already moved 4-7% previous to that I don't go in. for crazy people more like! I think the pricing is live, but the charts can lag; I’ll have stops trigger just before a candle spikes up; then it spikes up.. 🙄" Price Action: Common Candlestick Chart Patterns,1385,https://i.redd.it/30gdyu2rtdy61.jpg,"[deleted] The inverted cup and handle is also called the ""Bear's sombrero"" Chart Patterns + Candle Patterns combined with indicators like MA´s and RSI, Stochastic (basically any oscillator) is the way to blow up your account. It doesn´t work, it is what the retail education push for noobies to provide liquidity for the smart money. You might not believe me now, but wait a couple of years scratching your head wondering why this crap you wasted so much time studying and practicing doesn´t work. I would have given up on trading if I had not discovered the VSA (Volume Spread Analysis). With VSA I was finally able to read a chart properly and understand the market, like a musical sheet. It was like scales came off of my eyes. I am not trying to sell a course here, I am just giving a tip if you wanna study and practice proper trading and don´t know where to start. If I knew what to focus on since the beginning it surely wouldn´t have taken 5 years to be a full time trader, and by that I mean that I only trade for a living, not that I spend the whole day trading - which is something you don´t wanna do. But at the beginning of your journey you gonna have to, more or less. Anyways, after hoarding and studying and reading/watching all trading books/courses you can find on this Earth and blowing up 3 accounts I was about to give up this endeavor when I discovered a method called VSA (Volume Spread Analysis). It is a modern adaptation of the Wyckoff method, created by the late Tom Williams, former syndicate trader. Richard Wyckoff was a legendary trader from the early 1900´s. It was the first time that I went ""A-ha!"" when finally learned how to really read a chart properly. But my story is no different than every other successful trader out there, if you read enough books you will notice a very similar journey of discoveries, a lot of losses and finally getting a hang of this thing. Trading is the hardest way of making easy money. What I recommend (which is what I did and still do) is: 1st - Read ""Master The Markets"" by Tom Williams as many times necessary to understand all principles and how to read a chart properly using HLC bars and volume only (HLC = High Low Close bars - DITCH THE CANDLES!!). This is the ""ABC"" of the method, you should know this book by heart. Grab a notebook and a pen, make your own notes, after you read the book a couple of times go to charts and try to apply the knowledge, see if you can see the stuff on the charts. The book has a lot of marketing for the tradeguider software, you definitely don´t need the software, I never used it in my life. 2nd - Now you can read ""Trades About To Happen"" by David Weis, I recommend this book for 2nd because it is more dense and if you go ""green"" to it you won´t absorb as much. Do the same thing you did with MTM, read as many times necessary, and keep rereading from time to time. 3rd - Now I recommend watching the Chart Reading Mastery course by Dr. Gary Dayton, it will serve as a review of everything you studied above, and if something still wasn´t clear for you, with this course it shall make sense. Watch this course as many times needed, go to charts, watch market replay, practice on demo, etc... before trading with real money. If you did everything above then you should get a very good understanding of the method and of the markets, then what is needed is practice practice practice, I mean a lot... This is a discretionary method, an art. If you don´t practice you don´t build trust in the method then you gonna hesitate to take the trades. Or you can stay with your retail trading methods and join the 95% that lose in the markets constantly. This is great seeing it on a chart and showing how it would appear versus a singled out image of the pattern. Love it thanks! Once I actually learned how to trade, I realized that these ""candlestick patterns"" sold to the public are completely bogus. Candlestick patterns do not work unless they meet extremely specific criteria... and if you know enough about those criteria, then you don't need the ""candlestick patterns"" in the first place. Price action is king. There is no shortcut to reading charts. There is no simple graphic that will help you become a decent trader. More importantly, there is no edge in doing what everyone else does. Especially new traders. If you follow these ""patterns,"" you are following the uneducated masses. You will not make money following the masses. You will lose money. You either learn how to read the market, or you will lose your money. Don't let money-grubbing jackasses charge you for ""candle-reading courses"" and ""day trading masterclasses."" Just read as many trading books as you can (especially Wyckoff books) and learn how the market works. Stop giving money to these clowns who make their money selling courses. Great work. Price action is where it's at. I see a lot of people cranking out visual aids like this, but they don't do much good in a vacuum. Knowing what each pattern is called seems like the least important piece of the giant puzzle. It would be WAY more helpful to just talk about the significance of each and let the reader learn the names in context. This is amazing can you do more? 🙌 Or you can just recognize higher highs/lower lows based off pivot points and levels/zones. Idk the whole pattern thing to me always sounded dumb, they're all the same thing, price consolidation reacting to key supply and demand zones. But I guess if it makes money then who cares? Nice work! great post Tops, bottoms, and Penants are my favs What do they all mean? Excellent, concise Price is king my friend. This is useful -ty Tea leavee I don’t see any candlesticks I wish I could get one of you crazy candle readers to go back thru a chart and point shit out for me. These patterns change so quickly What about when Venus and Jupiter are lined up does that change things? The one and only Ben Graham says charting doesn't work [deleted] Very cool I think this needs to be a poster! Maybe a 24x36 !! Just a thought! when you look at it like this it seems so simple Trading is kind of like comedy. give line funny name, recognize funny name, make money from funny name Great graphic Where’s the ‘oh shit i’m rekt’ pattern? YouTube? Nah… Learning with Reddit post 😎 Instead of inverted head and shoulders wouldn't it make more sense to call it legs and penis? Your Swelcome 🍑👏 This only reminded me of squidward wearing a sombrero sitting inside a circle trying not to get attacked by a sea bear lol Thanks for sharing. I’ll start the road you paved here I'm so glad I read your comment! Thanks for sharing these great resources and sound advice. Am reading the two books you mentioned and have been checking out Dr Gary Dayton's site Trading Psychology Edge and watching his free webinars on youtube. Finally an approach to trading that makes real-world sense! Moving averages, bollinger bands and stochastic just weren't working for me. ​ Cheers :) Do these concepts apply to futures and ETFs or just individual stocks? Why is Master The Markets only available in Spanish on Amazon? You sure you’re not selling something? By price action what do you mean? Structure and the candles formed at key levels So you give your money to clowns selling book? Gottcha. Don't worry bro. I'm currently working on that. Ive noticed that too in this subreddit. For every pattern there is a reason of why it forms and the significance of it (aka where will the price action head next) Yeah I've got a couple more I'm going to post over the coming days. I'm kind of with you on this one. Recognizing patterns like this has its place, bit at some point this shit just gets out of hand and sounds like random ass signal calling in football. TA has its place, but I feel like people WAY overcomplicate it when they get too in-depth with all this bearish-engulfing three white soldiers bullshit. I like the wedge plays. They're usually better over the swing trade horizons for picking out big oscillations at peaks and troughs to do multi-day short/long plays. Combining patterns + SR is the only way to trade IMO. Yep! My favorites are SR breakout/breakdown plays and triangles (wedges/pennants, whatever you want to call them). No one knows what it means. But it’s provocative. It gets the people goin. [deleted] Benjamin Graham's trading methodology isn't suited for short-term trading. He's a *value investor* and Buffett is his protege! I like trading off lower time-frames like 1600/3200 tick or 2/5-min + support/resistance. I mostly trade the NQ these days, but price action works with any financial instrument. Any market and any timeframe. VSA principles (Basically Wyckoff principles) are Universal market laws, they are three: 1 - Demand Vs. Supply - When Demand is higher than supply, prices go up (and vice versa) 2 - Cause and Effect - Price 1st builds a cause (when price is accumulating or distributing it forms a range, the longer the range (cause) the bigger the price movement out of it (effect) 3 - Effort Vs. Result - The most important in VSA and key to reading price x volume relationship. Effort is volume and Result is the price movement, they have to be in sync, otherwise something is fishy. What are you talking about? It is a FREE book.... [https://www.tradeguider.com/mtm\_251058.pdf](https://www.tradeguider.com/mtm_251058.pdf) And here Trades About To Happen https://br1lib.org/book/2159037/157c56 Yes, what you said. Candle patterns, levels, and volatility. Volume is helpful sometimes, but not always. In my opinion. Volume is really only helpful in determining a few things: - climaxes (extreme high or low volume) - truly strong trends (high and increasing volume) - neat, orderly pullbacks during truly strong trends (low and decreasing volume) - true breakouts versus false ones (extreme high or low volume) All other volume indications are, in my experience, meaningless noise. No. I read only the timeless classics of trading and investing. There are plenty of them. And these books are typically a few dollars. As opposed to these ""trading masterclasses,"" which are anywhere from several hundred to a couple thousand, and teach you almost nothing. You will learn far, far more in the books than in the ""courses."" But thanks for your unnecessarily sarcastic comment. Not the only way to trade, that's for sure. Also keep in mind these patterns are not exactly special, they just tell you what the underlying market structure is at the time which is trend, or consolidation. IMO learn these two market behaviours and how the market transitions between them and you can stop worrying about most of these patterns. The only way to blow up accounts would be a better statement. Chart Patterns + Candle Patterns combined with indicators like MA´s and RSI, Stochastic (basically any oscillator) is the way to blow up your account. It doesn´t work, it is what the retail education push for noobies to provide liquidity for the smart money. You might not believe me now, but wait a couple of years scratching your head wondering why this crap you wasted so much time studying and practicing doesn´t work. I would have given up on trading if I had not discovered the VSA (Volume Spread Analysis). With VSA I was finally able to read a chart properly and understand the market, like a musical sheet. It was like scales came off of my eyes. I am not trying to sell a course here, I am just giving a tip if you wanna study and practice proper trading and don´t know where to start. If I knew what to focus on since the beginning it surely wouldn´t have taken 5 years to be a full time trader, and by that I mean that I only trade for a living, not that I spend the whole day trading - which is something you don´t wanna do. But at the beginning of your journey you gonna have to, more or less. Anyways, after hoarding and studying and reading/watching all trading books/courses you can find on this Earth and blowing up 3 accounts I was about to give up this endeavor when I discovered a method called VSA (Volume Spread Analysis). It is a modern adaptation of the Wyckoff method, created by the late Tom Williams, former syndicate trader. Richard Wyckoff was a legendary trader from the early 1900´s. It was the first time that I went ""A-ha!"" when finally learned how to really read a chart properly. But my story is no different than every other successful trader out there, if you read enough books you will notice a very similar journey of discoveries, a lot of losses and finally getting a hang of this thing. Trading is the hardest way of making easy money. What I recommend (which is what I did and still do) is: 1st - Read ""Master The Markets"" by Tom Williams as many times necessary to understand all principles and how to read a chart properly using HLC bars and volume only (HLC = High Low Close bars - DITCH THE CANDLES!!). This is the ""ABC"" of the method, you should know this book by heart. Grab a notebook and a pen, make your own notes, after you read the book a couple of times go to charts and try to apply the knowledge, see if you can see the stuff on the charts. The book has a lot of marketing for the tradeguider software, you definitely don´t need the software, I never used it in my life. 2nd - Now you can read ""Trades About To Happen"" by David Weis, I recommend this book for 2nd because it is more dense and if you go ""green"" to it you won´t absorb as much. Do the same thing you did with MTM, read as many times necessary, and keep rereading from time to time. 3rd - Now I recommend watching the Chart Reading Mastery course by Dr. Gary Dayton, it will serve as a review of everything you studied above, and if something still wasn´t clear for you, with this course it shall make sense. Watch this course as many times needed, go to charts, watch market replay, practice on demo, etc... before trading with real money. If you did everything above then you should get a very good understanding of the method and of the markets, then what is needed is practice practice practice, I mean a lot... This is a discretionary method, an art. If you don´t practice you don´t build trust in the method then you gonna hesitate to take the trades. Or you can stay with your retail trading methods and join the 95% that lose in the markets constantly. I agree generally, not implying that these patterns don't exist when we are actively looking at them, but they can't be your sole component for a strategy. what is SR? thanks you win They work in swings and even value trading, you just have to readjust your time frame for the expected return period. A cup and handle on a value investor time frame might take months to resolve the handle. Day trading is the only time it’s effective imo. Outside of that there are far too many variables that can easily render these predictions useless I find his value principles kind of boring so I have 50% in VTSAX and the other in various stocks I love. Recently I only made a bit of money with short term gambles. So I guess I'll give charting a try... Do these patterns also expand out to day intervals for swing trading? Thanks so much for posting these links... I was having trouble finding the second book :) Support & Resistance [deleted] They aren't here for sexy gains, they're here for the long term boring stuff Price action works with any timeframe any financial instrument. I fucking hate options and every time I touch them I lose all my money [removed] [deleted] Leaps [deleted] In what sense has it been better than shares? Why not just short spy ? Why buy puts / calls? Yeah I realized leaps were friggin awesome so I bought NIO leaps around $60-65 strike back when the price was around 55-60 range Now look at me [removed] [deleted] Lol you didn’t know that was top?!? It ran from sub 2 dollars to 63 almost uninterrupted. I actually got super lucky, didn’t f with options back then and bought 20 shares at 3.30 I think sold at 62. Also when is the expiration nio still has chances. [deleted] SR/patterns/price action can be applied to ANY timeframe. Lower for intraday (scalping, day, momentum) and higher for swings and longer holds. How far away are your strikes and expirations you’re choosing?" My ~ 3 months trading progress!,1384,https://i.redd.it/s40qqawhp7r61.jpg,"Great job. Keep it up. Lol I went from 7 grand to 16 now back down to like 9, mr bones wild ride A fellow 3-day trade a day trader I see? Word of advice. Spit the money into 3 brokers. 500 robin(id get out), 500 webull, and 500 tdameritrade. Benefit 1. Gives you a chance to test out other brokers and get a feel for what you'd prefer, if you're day trading with robinhood solely youre gonna have a bad time. 2. Each individual account of 500 will have 3 daytrades = 9 in total. 3. Seriously get the fuck outta robinhood/ in total you could bypass all of that and sign up for CMEG over seas broker, takes forever to get approved however its no PDT, Cons you per commission per trade. Any context to go with this? What are you trading (pennys, small caps, large caps)? How often? Position size? Etc Eventually 50% will become thousands. Trust the process and may the trading gods be on your side 😁 God I miss that feeling. That feeling of progress. that feeling of ""Hey, I might know what I'm doing and I could do well at this. ​ Listen, when you start adding commas, that feeling NEEDS to go away. You need to become a fucking robot. A numb mechanical being who sticks to the commands he was given. It sucks every bit of fun from the job, but you continue to become successful. Nice, mine is the exact same but flipped upside down! Nice....more importantly, be sure to keep a strict risk management in place so u don’t return those wins. mine did that but the opposite How do you “day trade” without $25k in the account? I thought that was one of the criteria - or are there ways “around” it. Congrats! I agree with other pple, get out of Robinhood. I personally prefer thinkorswim Don’t forget about taxes Mine is the exact opposite of this. :( My chart looks like yours but upside down 😃 why are you using Robinhood? GG now if u take yours and turn it upside down you will see mine 😉🍌💎🚀 How do you day trade on Robinhood ???? Getting there bud! Uphold is what I use for crypto Share the strategy! I’m down 28% How much time did you spend to earn that amount? in 3 months, I also made about 50%, but it was mainly in the first month... What happend in the beginning? lol Nice Fuck RH Bravo!!! 👏🏽 It has a pulse! It's ALIVE!! Wha did you put into begin with? What’s you stagety i can shownyou hobondeing trade with high success man it’s simple too understand Wow I’m doing really good in comparison. I’m down $50 lol Great job. Going red is very easy, so you're a off to a great start. All about discipline. Way to go! I’m really proud of you 🥲 NICE job man 👌👌👌 Do you have a strategy? Like a formula that you repeat for each trade? My 9 month crypto trading portfolio is +500%. I haven’t done anything but ”hodling” some coins. I use the same exact setup. RH - crypto, WeBull - short term thinking stocks, And fidelity as my main. I will say fidelity is better for long term, I definitely always use WeBull for charts and graphs alot more access to information, for sure. RH only because cryptocurrency. You grew your account by 50% in 3 months! You’re a beastly retard keep it up! Awesome job. I'm up 40% this year myself. Not as good as your but I will get there. We just keep working harder to make smarter investments. Wait, you guys are making money at this? I thought I was donating to charity with the rate of my loses. I been off and on trading any tips? Claim your profit buddy you did well Hey nice job! But also leave RH Exact same story man haha. From 2 grand to 14 down to 6. All fun though :) gains are still gains In how long? Thata 2 grand profit gratz what happened? I'm not judging and just wanna learn haha Plus if you're day or swing trading, webull has way more charts and tools. I have fidelity, rh, and webull. I agree with this. Try different ones out, plus gives you more availability to trade if you dont have 25k to throw in a PDT account. Personal set up: Fidelity-logn term growth/dividends Webull-short term gains Robinhood-my doge and Eth. Hopefully I'll get out of RH soon. And transfer my cryptos to whoever else sells the dogey. Lol But definitely try other cakes before you go on a diet. :) Keep up the great work, mate!🤘🚀🚀🤘 But definitely a great start. You can follow y Don’t need 25k to day trade if you’re in a cash account. Only need 25k if you’re in a margin account Ustocktrade is all cash, no minimum and T-0. As soon as you sell, your trade is settled. No PDT rules, plus they give to children's charities. Their system is very basic, but for momentum traders that don't buy options, it's perfect and fast. My deposit at 3pm is cleared for use by open the next morning. I like the system because it's very fast, no menu's to navigate. I have my sell set up as soon as my buy is executed. So don't I need stop losses that can cost me money on erratic movements that would trigger a stop loss. Costs $1 a month. Trades are $1. Worth checking out if you want to trade a fair amount of time to get practice. I have rob and fidelity. 90% is in my rob. I just keep my GameStop there and I don’t day trade. How and why should I get out of Robinhood. It’s been easy to withdraw and deposit. What are the downfalls and how long does it take to move to fidelity and while it’s in progress to I still earn or lose as price fluctuated. 🦍 only knows GameStop, work a full time job in construction so I can sit in truck and day trade and make money on side with full timer.I heart nakd is coming back big. Is that possible. Don’t want financial advise, only respond if you like the stock as I do. Look up TDA cash account i have $500 in my account and have unlimited day trades Is it 3 per day or 3 per month? This is true for specific people. For me, I trade money that I am willing to lose, so I try to have as much fun trading as i can. I see it as a hobby. Edit; I’d say it’s more of when you are trading with money that would be devastating to lose. To someone, 1500 might be devastating to lose, others it might be 15000, 150000 etc. Thinkorswim is for me also....if you are serious about trading and investing.... get the f out of robinhood. Ape strong. Carefully You don't by default it had a 5 minutes delay if not 10 with how bad their servers are. swing trades? Buy a dip today sell the rip tmr This is the big problem with these topics. It gives a completely wrong picture to beginners. So they will also risk too much and either get lucky and then lose it all, or lose it all right away. 11 to 29 to 22 in the past 4 months Like a month Does coinbase not sell doge? Edit: nope Get out of Robinhood for doge and Eth. I’d suggest Voyager for most crypto needs. Kraken for doge then hard wallet You cannot transfer crypto in nor out from robinhood. You will have to liquidate to cash and buy them elsewhere instead. I wouldn’t hold CC in Robinhood too many don't realize this Plus, options trades settle by the next day Yeah but you still have “good faith violations” that ultimately lead to the same consequences I believe. This sounds too good to be true. My God. Go to r/GME and you’ll see some sticky posts about GameStop and Robinhood. You don’t want me to try to explain it so just start reading. From what I understand, RH doesn’t actually own the shares of GME they sold you. Therefore your don’t actually own those shares. That’s the main reason why I transferred mine to Fid. That and in the case of a Gamma Squeeze, I dont want to risk them pulling the same shut during the short squeeze. https://amp.reddit.com/r/GME/comments/m74e3g/this_is_huge_robinhood_never_owned_your_gme/ Per week I guess it stopped being fun when I worked my way into a bigger account. I started with $3K and worked my way to 12K during the march rally. I pulled out 9K as my “winnings” and told myself to see if I could do it again with $3K. Im up to $16K from that. Its just not fun anymore because I know what works for me and my profits come when I’m systematic. If I lost all $16K I would still be fine as i’ve been trading with “house money” for a while now. The first run to $12K was loads of fun. Now its just a job Edit: I started getting PM's and messages asking for advice. I'll just post it here so I dont get duplicates. Most of my money is made day trading and Options selling with the occasional swing trade. check out: /r/options and /r/thetagang to learn more. Tastytrade has a great youtube channel on options selling as well. I learned how to read charts, read indicators, support levels and strategy from the youtube channel 'humbledtrader'. As well as random posts online. I;m dumb as fuck, I spent over 100+hours reading and watching videos online. Dont go into this thinking it will be easy. But my greatest asset is knowing im dumb as fuck so I have to try twice as hard to learn this stuff. Finally, never ever ever pay for courses or ""hot stock tips"" from finance guru's. All the info you need is free and online. There are also tons content creators who post their writeups here on a daily basis. cheers and good luck Better than ive done the last month Binance Yeah, I was waiting on coin base, too. Lol I’ve heard this was currently in the works at CB Kraken has it. Easy to get approved too Ty You cant transfer out from Voager... unless you dont plan on storing your crypto outside of exchange - voyager seems to be less glitchy than competitors I heard of kraken, but dont know anyone personally that uses it. I'll definitely look into it. Thanks for the info. You don't own the crypto in robinhood...robinhood owns it and you basically invest into their investment..... Oh man, I wondered what was up with that. I thought it wouldn't transfer because I was doing a partial transfer. Thanks for the info, mate! 🤟👍 💯 $25k is ONLY FOR MARGIN Agreed, i didn’t realize this myself until recently, putting the word out to help anyone who sees this I didn't know this. Lol I thought 25k was required regardless of margin or cash account. This is good info for many, I'm sure. Yep absolutely. Basically in a cash account you can’t buy, sell, and then re-buy until the original buy/sell is settled, which is typically T+2 based on date of sale. I think most brokers don’t let you work with unsettled funds to somewhat “protect you” from good faith/free ride violations but not always, which is how violations occur. Still learning this shit myself honestly. My main point though is that anyone can day trade! You don’t have to have $25k in an account to day trade if you have a non-margin account. How do I switch it to fidelity and during the switch will I gain or lose during time Do option trades count? You are right. Trading for profits is different than trading for fun. But alas, I am still learning so what do I know. Wow send me your secrets cause March was a bad month for me Damn your good! Thank you 🙏 Wish this was available for everyone. I have a hard time seeing CB ever listing doge, their tradable assets are already limited compared to other crypto brokers and they seem to steer clear of the ‘meme-y altcoins’ to prevent potential scams etc. but Who knows, crypto has been getting a lot of attention lately so the scam shitcoins haven’t been as frequent. I largely just use it to stake holdings because the APY is nice and I can see ether actually going somewhere in the future, I do occasionally buy the dip on a few Alts when the market is down though for a quick 10-20% gain. The volatility gives me heart palps though so I don’t get into it too often. There are rumors they are considering adding it. They are rather picky about what they allow to be traded. Not necessarily a bad thing No. Do your own research. Read apple’s iTunes store reviews for Voyager. I am staying clear from this one Close, but still wrong. You can buy, sell, and buy again before the sale cash settles, but then you can't SELL that unsettled cash buy until it settles. So you end up with a 2 day swing instead of a second day trade. Example: $500 account. $500 buying power. Monday you buy 100 XYZ @$5.00. Sell 100 @ 5.25. You now have $525 buying power and $0 settled cash. You CAN then BUY 10 ABC @ $50, but you can't SELL it until the cash used to purchase it settles. So you are holding 10 ABC until Wednesday or you get a GFV. I was nervous about that too and fidelity had it in within 4 days. From what I’ve learned, the squeeze will last for days and of course we could have weeks of skyrocketing if it gets as high as everyone wants. Today is Monday. Start the transfer today and you should have it in by Friday. Once I read RH didn’t own the shares, I was out. I’m not gonna be the person who sells during the squeeze at 1 million per share and mofo RH not pay! Lol Go to fidelity.com. Upper left hand corner, click on the bars. Ckick on accounts and trade. Choose the transfers option click deposit, withdraw, transfer money. Make an account. Then it’ll ask you if you want to transfer from an existing account at another broker. That’s what you’ll choose. They will ask for your RH account number. That’s in your robinhood account info usually at the top of the app. Unfortunately, yes. Don’t want financial advice, how do I say trade. I have around 20 GME and would Like to do some things on the side. I have a few dollars I could lose. Are there other stonks I should look at and how and when should I say trade Nah, my timing was just good. I started when the market was on easy mode. The only thing I take credit for is knowing I was getting lucky and studying so that I turned some of that luck into a bit of skill. Now is where my skills are put to the test. What country? There is a US version at us.binance.com Shut up! Lol. I’m deeply invested in Voyager! I usually have the same sentiment. But I’ve used Voyager for a few months now without any hiccups. I’ve tried all crypto apps and Voyager was my favorite. Sure they’re struggling with the huge surge of new accounts currently, but it’s been great for me. Regardless, stay away from Robinhood for crypto. Ah that’s right, thanks! This is not right at all. If you buy $500 and sell netting $550 and are under T+2 rules, you cannot buy again until that cash settles. You cannot buy and then have to wait two days, you just cannot buy until it settles. Source: Cash trading in my 401k account and violated good faith / free ride by day trading until restricted to settled cash trades only for 90 days How do I do it. Me stupid 🦍 Just completed transfer Why does Robinhood show the dip and fidelity is still holding at 191 [deleted] They are not allowed to operate in every state, including mine. I do like their charts, but I wish I could buy/sell btc on it. I'm correct. Do more research. edit: you can downvote me but that doesn't change the facts. I don't care if you believe me or not, it's your money and your account. Remain as ignorant as you want. 10-4 will do You are wrong bro...unless your broker is weird but this isn’t how fidelity works. Pretty sure it’s not how it works anywhere though Bro. Stop arguing on the internet and listen. https://www.fidelity.com/learning-center/trading-investing/trading/avoiding-cash-trading-violations A good faith violation occurs when you buy a security and sell it before paying for the initial purchase in full with settled funds. Only cash or the sales proceeds of fully paid for securities qualify as ""settled funds."" Liquidating a position before it was ever paid for with settled funds is considered a ""good faith violation"" because no good faith effort was made to deposit additional cash into the account prior to settlement date. Note the website, bro. Fidelity must be a ""weird broker"". u/reubal is correct. I have a cash account on webull and buy with unsettled funds constantly. It warns you of the rules to avoid a gfv at purchase, and gives an ""are you sure"" popup if you try to sell before the funds settle. You are literally a fool. I trade every single day in a fidelity 401k. I was able to buy and sell freely until I violated good faith 3 times or free ride once. Once restricted, you are only able to trade using settled funds. This means you have $500 cash and it’s settled. You buy 500 XYZ at $1. You sell 500 XYZ at $2 and now have $1000. You cannot trade again until it settles, T+2. I’m right, you are wrong. Selling before funds settle constitutes a good faith violation. Brokers let you get away with this up to 3 times in most cases, before restricting your account to trading only with settled funds for 90 days. That example you pasted literally spells it out. No broker would ever restrict you from selling a position you hold. That’s ludicrous You seem to have reading comprehension issues. Good luck with that. You gotta be trolling. Whatever lol I know what is what in my own account. You’re the one with reading comprehension issues. What kind of broker would stop you from selling a stock you own? That’s insane. I could literally show you today that because I bought AMD at $81 and sold it at $81.39 and my balance available is less the amount that cost...because I can’t trade with that money again until it settles Sound out the words. Use a dictionary if there are any you don't understand. No one is STOPPING you from doing anything. You can DO it, but then you take a GFV. But you know everything and have it all figured out, so have at it. Yeah, you do it and get GFV, then if you do that three times you are RESTRICTED TO TRADE ONLY WITH SETTLED FUNDS (for 90 days). You never have to wait two days to SELL anything, as you implied. Anything you are in, you can sell at any time and any other way would be idiotic We need to wall up WSB so you guys can't escape and spread your idiocy." My Trading Plan Template That Made Me Consistently Profitable,1363,https://www.reddit.com/r/Daytrading/comments/mp7b9b/my_trading_plan_template_that_made_me/,"This is all great information and strategies for keeping yourself motivated and safe, but how do you choose stocks? What are you looking for when you enter and exit a trade? Thank you. These kind of posts are exactly why I'm on this sub. Read 'trading in the zone' a lot comes from this book, How would you choose which ticker and price action to trade? Are you mainly day trading? Thanks a lot! Starting fresh, this is valuable tip moving forward!! I would consider this a trade plan boilerplate that could be used by everyone. It’s good stuff. A “trade plan” however should also include the specifics on what trades you take (or don’t take) based on your edge (the trade plan edge is a backtested strategy that shows a positive outcome statistically speaking and does not have drawdowns large enough that cannot be overcome). I didn’t see any entry, exit, risk per trade, trade management etc criteria in your plan that perhaps others could benefit from. Your guidelines of the boilerplate are solid and kudos for having and following them. Just as a FYI, if you search for ""Mark Douglas How to think like a professional trader"" on Youtube you can find a 4-part series (4+ hours!) where he talks about a lot of the concepts in his Trading in the Zone book. Could be a good alternative for those who learn better from video, or can't afford the time or cost to read the book. Nice post, a lot of the same rules i follow, i love the below one the most. There is nothing better than hitting $XXXX within 15 minutes of open, and then spending the rest of my day doing whatever i want. ​  3. If you are up $XXX for the day, you will take the rest of the day off, stay away from the trading screens, and do something you enjoy doing—other than trading From a very new trader I would like to thank you for this. It is helpful to see it laid out like this. [deleted] OP, are these your original ideas? if not, you should have made references to their original author, bcuz the part (the 7 points) about being consistent is quite clearly copy/pasted from Mark Douglas (Trading in the Zone, chapter 11), you should have made the reference to avoid being accused of plagiarism even if it's on Reddit. I have the book beside me right now, so i don't think I'm being unfair to you. Moreover, Mark Douglas passed away a few years ago, you should have at least given him some credits, bcuz it's not really your original ideas, that's why references are needed. Thank you. I’m always nervous to close losing trades. I just hold and hope they rise in time. ADMP being by far my worst performer. Some good vids on developing a trading plan using a journal on redpilltrades YT channel The wall street cheat sheet was definitely an eye opener for me, like you say it's psychology. Thanks for taking the time to share this. It is very helpful 👍 This is solid!! I have a question. Let’s say my trade is going good and according to plan, but the QQQ and SPX tanks out of nowhere. I want to take my gains and bail the trade regardless if I hit my profit target or not. Is this an inappropriate way to trade? Didn’t have time to read, saved for later tho, thanks for putting in the effort to make it this detailed Thank you for sharing! Appreciate your time. \#3 is a biggie. Being wrong makes losses a stab at me and my confidence in my abilities. I understand they will happen and there is nothing I can do, in fact if there were no losses I am probably missing out by being too conservative. But it still irks me and pulling the trigger on the next trade. Work in progress. Thank you for sharing. Its nice when others post their history and views. It helps. Pretty much this. Thanks for sharing! The number 4, fomo, gets my ass every time. I have to check my impulses or I'm screwed. Thank you for sharing. This is absolutely golden advice. I'm sure it will help many to be more disciplined and structured in their trading. Thank you for the advice! Thanks! Good stuff Looking forward to being a proper day trader. I trade almost the exact same way. Look up Meir Barak from tradenet on YouTube and watch his trade recaps. It’s almost exactly the same too. Although he will trade sticks that are over $200. And I’m not encouraging paying for their classes or anything. I don’t. But just saying his free trade recaps that I have seen are very similar in style. Appreciate you sharing this awesome quality writing, trust me there are not many on Reddit. It truly depicts what a trader going through during trading. I myself had encountered many of the points you mentioned here. This piece will greatly help traders who are still figuring their own trading system, a system that comprises many of the rules you stated above👍🏼. Yea yea yea but show your portfolio Do you have an excel template that you can share that shows how you log your trades? Thank you 👍🏿 Notice all the comment bots saying how great the post is. Thanks for the info God bless This reads like a copy pasta this is great! that's good! This is great thanks. Thank you. Very well done. Great post, solid guidelines. Good stuff man! Post saved. Thanks for sharing your techniques with us. You've given value to my day 🙏 I'm going to sit down and write my own trading plan tonight. I now know how to analyse the fundamentals and technicals of the market. And this is the last key to the puzzle. Thanks allot for sharing this. This is an ad for an upcoming click funnel and course. This ad has been splattered on many trading subreddits. It's targeted mark seems to be emotional immature fomo types. Basically the same that would get suckered into Lopez, Gutierrez, Lok, etc. Mixing in daily affirmations is a nice modern touch. nonspecific babble garbage There is no ""trading template"". This post is utter garbage. The closest thing to that are super algorithms that can usually predict price fluctuations within a second against the longer duration of time ordering of humans. Any real stock trader (as designated by the IRS making over a certain number of $ yearly) must of also laughed when they read this. This sounds like the plot to Goodwill Hunting (trading in the zone) At least give credit to the book youre basically quoting in some areas. Trading in the Zone by Mark Douglas for those wondering. It's a great book. What’s the best way to define your risk tolerance. That’s one thing I have trouble with, trying to hold when it’s dropping a lot thinking it’ll bounce back based on my emotions. I’m looking at trying day trading. Idk where to start though, so this was helpful thank u Thank you very much, it's all true and I will try to make my own plan as well Anyone use Zacks Research and find it reliable? Remind me in 12 hours Day trading - I look to enter after 9:40 EST, let market open and get direction going. Stock has to be between $15-200, trade at least 750,000 shares on average, and have a premarket move of a minimum 1.5% from yesterdays close. You can set up scanners on brokers and finviz to narrow down 10-15 stocks in premarket to trade this. Then I go long stocks that are up, short stocks that are down, dont fight the trend. If the trend changes in first 10-15 mins just ignore that stock and move on. I look for early breakouts that pullback to consolidation levels, which typically leads to a trend back in the direction of the breakout. Example. $RKT closes at $22. Next morning its up to $22.50, looking for trend up. Market opens, stock moves up to $22.80 on morning spike, pulls back to $22.58. Stays around $22.60 for 3-5 minutes. After about 4 minutes of consolidation in a tight zone, I go long. Look for a move back up over morning breakout high. This is more my trading plan for day trading and not investing (which I do with stocks mostly). The key to day trading is your mindset and psychology that is why the trading plan was and is so important to me to make consistent profits. It is really not to difficult to find working strategies or to do good analysis. Most of you have probably experienced that you can pick important price levels and predict how price will behave rather well. However as they say its easy to become a good analyst but hard to become a good trader and that is all down to your psychology while trading. With investing especially in stocks I do have a longer time horizon and thus also considerably lower problems with my emotions. I have a specific stock screener that I use to find a selection of stocks that I then do further fundamental analysis on. I will do a detailed video tutorial on this soon and share with you in this subreddit. Regarding day trading I just posted a trading strategy I use including TradingView script for backtesting and live trading on my new Youtube channel. I also shared it in this subreddit but I think I am not allowed to link to it in comments. You can probably find it via my profile. It is optimised to trade the EUR/USD on the 15 minute time frame and has a win rate of about 70%. I will share another tutorial video soon on a strategy (including TradingView script again) that I am using for day trading of stocks, futures and cryptocurrencies. Look, his post is just like saying ""When I go to the casino I only take the amount of money I'm prepared to lose and I quit and go home when I'm ahead by $XXX or if I lose 5 rolls in a row. The max I put on any one bet is $XXX"" The rest is just trite guff. And you're asking ""What numbers do you pick?"" as though the guy has some magic way of winning roulette. Pick any fucking numbers because it's gambling. There's nothing profound in his post at all and it's not a method of making anyone ""consistently profitable"" - it will, at best, minimise the amount you end up losing if you follow your maxims. If enough people gamble you'll get some winners. Those winners are often deluded that winning is evidence of them being smart. It isn't. Thank you for the feedback much appreciated. A lot is quoted directly from the book. **Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude** By Mark Douglas Douglas uncovers the underlying reasons for lack of consistency and helps traders overcome the ingrained mental habits that cost them money. He takes on the myths of the market and exposes them one by one teaching traders to look beyond random outcomes, to understand the true realities of risk, and to be comfortable with the ""probabilities"" of market movement that governs all market speculation. **Review by DP**: The author repeats himself. And yet, for traders, I think this book is invaluable. Most could benefit from reading it. An edge is simply something that, over a large sample, one thing will happen more than another. I do day trading and long term investing. Regarding day trading I mostly trade futures: the ES. Regarding day trading stocks I do use a stock screener pre market to look for stocks that have a lot of momentum e.g. are gapping up or down for example in order to decided what stocks might be interesting to trade on any given day. I then look at price action to either jump on or fade a move. I will make video on my youtube channel about this soon and share my method with all of you. *Thanks a lot! Starting* *Fresh, this is valuable* *Tip moving forward!!* \- No\_Yogurtcloset11 --- ^(I detect haikus. And sometimes, successfully.) ^[Learn more about me.](https://www.reddit.com/r/haikusbot/) ^(Opt out of replies: ""haikusbot opt out"" | Delete my comment: ""haikusbot delete"") Yes you are completely right this is just the framework beside the edge which in my experience regarding actually becoming profitable is the more difficult and more important part. There are a lot of strategies out there that have enough of an edge to make you profitable if followed and implemented correctly. Most people don't know or believe this but you can actually also be profitable with a strategy that has less than 50 % percent win rate if your money management is up to par. A very good read is Way Of The Turtle from Curtis Faith of the infamous Turtle Traders. I am sure most of you know them if not you should definitely check them out: To put it in a nutshell they were part of an experiment of the most successful future trader at the time having a bet with a trader friend that he could teach anyone how to trade (anyone is debatable as they certainly selected people with specific talents). Ultimately all these candidates got the same winning strategy to learn profitable trading but a lot of them did not make it exactly because of their psychology and because they could not follow the plan. A few of them went on to become incredibly successful traders because they were ""simply"" able to stick to the plan. As I mentioned in the beginning of my post I trade different strategies depending on the asset class. If your portfolio size is large enough diversifying strategies and assets you trade will give you an even larger edge. I share my strategies on my youtube channel which you should be able to find via other posts on my profile. So far I have shared an edge that I use to trade the EUR/USD and another forex swing trading strategy I use. I have another video upcoming about a strategy for stocks, futures and cryptocurrencies. Any books or videos that you recommend I look into? I’m trying to learn more about trading. I would recommend that you backtest any and all of your strategies over many years so that you can gain some confidence in whether they work or not. Still this is no guarantee they will work again but it is the best we can do. Any strategy will come with winning and losing streaks. What is important is that you focus on the long term probability distribution. To know that you need to backtest your strategy over a long period of time. Besides that as an example you do not need to be scalping to make money day trading. I personally found that the lower the time horizon I am trading on the harder it gets to find a good edge and manage emotions. So maybe you could rather try swing trading. Generally speaking markets are always in either of two states either in a trend or a range. If you factor in the market state and stay on the side of the trend you are already half way there and the rest is just your mindset. Reduce your position size to a point where you can just enter a trade with SL and TP set and forget about it. Only increase it slowly while you become more comfortable and are still able to manage without your emotions taking over. Oh I am sorry I created this plan years ago and it is a mix of my ideas and things I have learned from fellow traders and books and am only sharing it now. Mark Douglas Trading In The Zone definitely had a huge influence on me over the years and I am super grateful to him and his book. Thanks for bringing this to my attention I will update my post accordingly. Made the update just now - thanks again for bringing this up. [deleted] Blah blah blah give him a break. It has probably been said a lot but: cut your losers short and let your winners run. If it is a long term investment in stocks and you have a good narrative for why to stay in a trade that might be a different story but if we are talking about short term day trading there is no other way to survive long term. Learning to accept losses will make you a better trader. I always try to focus on high probability setups during times of large moves/momentum. Meaning that I want to see my trade go into my intended direction more or less immediately when day trading (for long term investing its a different story). I usually put my stop loss break even as soon as the trade takes off and into the profit a little later. Its a balance between giving the the trade enough room to run (as there always are pullbacks) and never letting it turn into a loser again. If you have a valid reason to alter your plan and there are news or for some other reason heavy momentum against the direction of your trend it is completely valid to enter without hitting your profit target and even better if you switch your bias and look for entries in the opposite direction if a there really is a reversal in play. If on the other hand we are just talking about retracements that are leaving the trend you are following intact than I would stay with my position. Used to be just like that for me. The fact is you can never know what will happen next and it does not matter: It does not matter whether you are right only whether you make money. When I started trading forex for example for the longest time I got caught up in the fact that the currency movements were not matching my macroeconomic analysis and still sticked with it. As soon as you can detach yourself from being right or wrong and focus on making money it will become much easier to control your emotions and be profitable. Thanks for the feedback - happy I can share something valuable to the commnity. No problem ;) will make a video about it soon. Sorry unfortunately I do not. I track all my trades with my bloomberg terminal. As a free alternative I highly recommend koyfin. It is. Nothing original at all. wow thank you so much for this amazing feedback: that makes me emotional. We will see... it has been posted many times over many subs. Could just want to help new traders, only time will tell lol. >This post is utter garbage. definitely didn't live up to the title...there is always mañana. Yea, it's cringy. But fomo types will lap it up. It's just a mishmash of pop trading philosophy. OP did so after i pointed it out, so i think he wasn't trying to do it on purpose or with any bad intentions, but I'm more surprised by some other people here who think plagiarism is okay bcuz it's online. Thats what most people do and there is a psychological reason for that. I will create an in depth post about the psychology that goes into trading and share that soon. Thanks for the insight Collin. are you paid Finviz? And did you meant $5-20 or $5-200 as you wrote? Thanks Collin Are you trading stocks or trading options? If options what DTE/strike do you generally go for? Do you short when stock is below vwap and 50ema? Or do you buy the quick bounces? > I will do a detailed video tutorial on this soon and share with you in this subreddit. That would be very much appreciated! great video! Look forward to the others. If you think trading is pure gambling, why are you on this sub? There are a significant number of profitable day traders. Consistently profitable, in that it is their job, they pay their bills, mortgage, put food on the table with that income. Such a thing would be impossible if your claim about this being based on random change were true. If Technical Analysis weren’t accurate, then Algorithmic trading would also be impossible. Those algorithms are based on the same rules of price & volume successful day traders use, they are just much faster. Large institutions use these models to guide their investments. If there were no science behind this, those institutions would not make a profit. You sound like someone who failed at trading and then convinced yourself that it was always impossible to win. The thought that some people were able to get this and master it seems to be an injury to your ego, so you have to troll other posts calling the entire thing “luck”. Unless you can explain someone like myself and all those that I know, who make a living day trading, something that is statistically impossible if it were based on luck, don’t bother to respond. Because while there are consistently profitable poker players (a game of skill), there are no consistently profitable roulette players out there. There are millions of roulette players and not one who is lucky enough to play everyday and make consistent income. So you entire analogy is inaccurate. Or to simplify - you sir are a troll. then explain why a casino always wins over the long run - aren't they 'gambling' as well? bonus - how about traders that are consistently profitable? bonus 2 - do you know the difference between gambling and using an edge and statistics? would you call professional poker players 'gamblers' He couldn't trade for shitZ Good bot yes, we all know that fact about you. enjoy your day 😉 i did, that's why i didn't directly say he plagiarized the part from the book, but thanks for the feedback. have a good day 😉 Thank you. Really appreciated. I’ve not had much look with day trading yet, but I continue to read and research for hours a day. Wishing you all the luck in the world. Thank you so much! I'm going to save this message for later referencing :) Folks be downvoting the goose that lays golden eggs. xD Thanks for the information exactly bro GLTY Cool man I appreciate it. I’ll be on the look out. No, I look at premarket movers on broker and verify through finding free to make sure it's not an etf, commodity, has volume, etc. That's just US equities, no ETF/commodities/mutual funds. Don't trade off those indicators on this method. With this and shorting, stock has to be down over 1.5% in premarket and make a morning spike with pullback up into consolidation. This shows me usually trend will continue. After about 5 mins of consolidation, throw the short on and look to ride down below morning low. You're both right. Trading is 50% picking trades and 50% playing them. Even with technical analysis picking trades is only educated guessing. You still won't be right 100% of the times, it may be 70:30 or even 60:40. It's just as important to know how to play the trades. If you'd close your 70 correct guesses too soon and let your 30 wrong guesses run too long, you'll still end up negative. Vice versa you could be profitable with a 50:50 chance as long as you know when to exit. Just like walking away from a roulette table as soon as your number has won. People get to the final tables in poker consistently only because the world is full of stupid people. It's obviously possible to do dumb things and lose in trading and poker and it should be fairly obvious that these losses are someone else's gains. That it's easy to lose a lot of money doesn't imply that you have any great control over winning. To believe this is a fallacy. Analogy : you can die very easily by doing something foolish or dumb, that doesn't mean you have any great method or system for staying alive. There are very few people consistently winning at poker however because once all the losers are eliminated (and you'll note most poker TV shows only focus on the people on the final table's path - they don't show the myriad losers funding those winners) Once you get to that final table it's just gambling. Who wins is mostly chance based on what cards they get. The point was that the poster got excited and wet his panties that someone had posted ""how to consistently win"" - but they didn't and no one will post this. At best they post stuff to try and encourage people to play. So the poster, misguided and foolish as he is, falsely believes that OP must have the secret to winning. So he starts with his but question....""great information but...tell me what stocks to buy to win!"" Get some self awareness here, your post history is full of exactly the same kind of trite garbage. You're the troll. > then explain why a casino always wins over the long run - aren't they 'gambling' as well? What? Are you drunk? They win because the odds of the game are rigged in their favour. They aren't gambling. > how about traders This is called the survivorship fallacy or survivorship bias. Ironically it's a common fallacy used by tipsters and con artists to dupe people into believing they have insight into things like stock prices or horse racing results. He was more like a coach for traders... Mark Douglas and why he matters to your trading strategy Mark Douglas was an author who wrote a variety of books on trading psychology. During his career in finance, he worked with hedge funds, money managers and some of the largest floor traders. Douglas was educated at Michigan State University, majoring in Interpersonal Communications and Political Science. Douglas started coaching traders in 1982, and made his money by teaching them how to develop the right mentality around it. Thank you, vonkrueger, for voting on haikusbot. This bot wants to find the best and worst bots on Reddit. [You can view results here](https://botrank.pastimes.eu/). *** ^(Even if I don't reply to your comment, I'm still listening for votes. Check the webpage to see if your vote registered!) Cheers mate 😎 Thank you so much - I wish you the same ;) thanks man. I edited to ask - did you mean $15-200, or $15-20? Awesome... That's a problem for stocks like apple, ual and spg that negative premarket can turn green on market opens. How do you predict when to go short? Below premarket low? This Money management the way it is used by professional traders actually comes from game theory made popular by gamblers. If you know how gambling works you know the casino wins over the long run because they have a consistent edge on every game: just ask any casino owner. Professional gamblers on the other hand can sometimes find an edge in different games as well and exploit that. In order to survive long enough to actually win with their edge they use money management. There are certainly a lot of similarities in trading. As someone who had dealt with poker and poker statistics, optimal play and strategies for the better part of two decades, you have no idea what you're talking about if you think those players at the final table are all just gambling. Anyone who knows poker knows (especially at final tables) that you aren't always playing the cards. You're playing the other people. That's in addition to calculating pot odds, expected value and determining the correct play based on the cards in any given instance. The best players know their opponents and know when to bluff and when to lay down even a very strong hand. The fact that you don't know this but are talking with such authority about it leads me to believe you also don't know what you're talking about when it comes to day trading. You literally have zero posts, all replies in your history. You’re the definition of a troll. Nor did you address my point at all, you spent all your time talking about my analogy but not my point. Once again - if you can’t explain the existence of profitable day traders then STFU and troll elsewhere. Well 90% of people quit most things they try since they don’t put in the time to get past the learning curve. Same goes for trading. Either you learn how to have an edge over the system or gtfo this is a trading sub. Exactly he did that without being YouTuber same thing. $15 up to $200. Over $200 the price action starts to act different and under $15 spikes can occur too fast. I personally enjoy the stability between 15-200. I will trade apple, but wont trade chipotle. The low float cheap stocks that can really run are too volatile for me. If trend turns and a stock down moves green or back to less than 0.5% move, I take it off the list and ignore. No clear trend in one direction makes it a less likely trade to work out. No direction, no trade. Big part of day trading is not over trading, if no setup looks great then just don't trade. My entries typically happen at 9:50ish and I look to exit before 12. I find most best breakouts happen and peak at 11:10ish. *mic drop* Q.E.D., kids. Bullshit. Look, imagine you have the best 2 poker players in the world. Their play is completely optimal. Say we're playing winner takes all, so every other player in the tournament is a loser - no matter how good they thought they were at poker or studied anything. So we're down to the last 2 and they both play perfect poker. One of them will win because of luck. That's just the way it is. It's a game of luck. Now the winner starts telling everyone how smart he is and how he won, but he has nothing interesting to tell anyone. Play that tournament again and you'll get a different winner. The truth here is one winner will waffle as you have about odds and expected outcome and whatever and another winner will just say he can read people and another something else. Some will smile as though they know something everyone else doesn't. Most of the bullshit is designed to fill the room with idiots. You need idiots to play to generate money in the pot to take. ""But I see the same faces on the last tables"" - well yes because there's an influx of idiots to poker tournaments. As I said losing is easy, like dying. You can definitely die in a lot of stupid ways. But that doesn't mean people who look before they cross the road or exercise have some magic insight into living. Similarly you can lose by doing lots of stupid things but that doesn't mean anyone has any great insight into how to win - and that's literally shown in the posts of these people who type nothing other than trite guff. Once you've got a table full of people who aren't stupid it reverts to gambling again. It's not chess. >if you can’t explain the existence of profitable day traders I already did. Twice. Same thing as explaining lottery winners. Many of them think they must have been gifted or special in some way. No one here or anywhere else has ""an edge over the system"" Hmm... True. But TRADING IN THE ZONE- MARK DOUGLAS (FULL AUDIOBOOK) is on YouTube tho. Cheers! I'll give your strategy a run tmrw and see how I get on man. Hey, I’ve actually been using a similar strategy to yours. However I rely on MACD and VWAP to find entry points on when to go long or short. You mentioned not to use those indicators, could you elaborate on why? And what to use instead? Way off topic here, but in chess between grandmasters, white wins 30% more often than black. This is because they go first - something determined largely by chance. So, I don't think it's not chess in the way you think it isn't. =) Okay, let's play a game. We'll flip a coin. When it lands on heads, you pay me $10. When it lands on tails, I'll pay you $1. It's a perfect gamble. I'll win half the flips, you'll win half the flips. Good deal? But the coin flips are 50/50, so why isn't this fair? The wagering is lopsided, I've put the odds of making money more in my favor than in yours, even though you have the exact same chance of winning each coinflip. Good players (and traders) know how to put the odds in their favor. Yes, each individual hand of poker has an element of chance in it. Drawing to a flush? You'll get it a percentage of the time. You determine whether putting more money into the pot is worth it, based on how often you'll hit. If you hit 20% of the time, and what you have to put into the pot to stay in is less than 20% of the pot, it's a good bet to stay in, otherwise you fold and wait for the next one. Because once you've played that flush draw 1000 times, your odds will even out and as long as you put your money in good, you've made money on those 1000 draws. Some you win, some you lose, but you were careful and because of that, you've made money. An evenly matched final table, where 10 players are exactly equal will see each player winning 10% of the time. Each individual time at the final table does contain an element of chance, but good, winning players know that it's not about each individual hand or even each individual final table. It's about making the right decision every time and letting the odds work themselves out. Yes, it's true, not every time a chart signals a breakout does the breakout happen. Good traders recognize this and account for it. Keeping the risk low enough and exiting a losing trade before it becomes too big allows for the times when the breakouts do happen and you win 3-10x your risk cover those losses and is helping to put the odds in your favor. That is utterly moronic - you’re saying that these billion-dollar institutions that use algorithms based on TA, and an entire field where people make their living every day, is akin to...the lottery? So myself and those I work with that have been paying their bills with Day Trading profits for YEARS have been freakishly lucky?? Found my next audiobook for work lol. Thanks for the tip I simply use consolidation as an indicator. Adding in extra indicators is just extra unneeded steps for my strategy. I could, really narrow down my trades and take fewer that meet the criteria but I don't see the need to include them yet. That's complete and utter horseshit. There is believed to be an advantage to going first and thus playing white. That has obviously not been proven but the statistics bear it out. But it's nothing like 30%, not even 10%. This really shouldn't need pointing out because it would be a huge flaw in chess if it were that biased towards one side. I pity this subreddit for having such a poor grasp on simple things. It's obviously not typically chance that determines this in serious games either - 20 seconds of thought would figure this out - usually people will play an even number of games and start half with white and half with black. Please try harder. Smart is more impressive than trying to be a smart ass, especially when you don't have the first clue what you're talking about. I'm saying that the same thing explains why there are winners in any gambling and it's a big fallacy to look at the winners and ignore all the losers, called survivorship bias. I never suggested the odds were the same. They are obviously not. But this is so obvious it didn't need pointing out. I pity you that I now have to explain something so simple to you. So yes, flipping a coin is akin to winning the lottery, both are chance but, no getting heads isn't ""freakishly lucky"", it's about 50% with a fair coin. That I have to point this simple thing out shows how poor your thinking in this subreddit is. The irony is though people who win the lottery actually do often delude themselves that they are special in some way rather than seeing it for the blind luck it was. Haha! Cool. No problem, enjoy!! Here's my source: https://www.chessgames.com/chessstats.html 37.80 / 28.18 = 1.34 = 34% more likely to win as white than to win as black - again, between grandmasters. Reply if you want, but I'm not going to engage you any further until you ""try harder."" How old are you? Are you serious? Do you realize that if there were ANY significant element of chance in it, there could be no way to have a career? Algorithm?? You would have to get heads on that flip MORE than 50% of the time to be consistently profitable. What you are saying is that all the people that make this their career are not getting profits due to skill , they are just luckier than everyone else. You realize we trade EVERY day, right? And we are profitable EVERY year. You get that, right?" "Kenneth Griffin (@citsecurities) just exposed the SEC because he felt the need to incriminate himself not once, but twice!",1339,https://v.redd.it/y20g1npqq6q71,"[removed] I'm so proud of everyone who has been bringing this information to light and spreading the word. Apparently Twitter has been censoring the hashtag #KENGRIFFINLIED. We can't let this go. I love seeing this information spread. They've been trying to lie to us for 8 months and still couldn't get away with it. It’s time for justice Kenny boi Why the obession with this? The only people who are complaining are the people who were screaming ""GME $1000"". Smart daytraders had 4 or 5 days of 20-30% moves and made their ""trade of the year"" and moved on, Literally couldn't ask for more than what GME did. 4 good A+ trades within a week. There is no doubt that Robinhood and Citadel spoke. I just fail to see where there is clear evidence that they colluded to shut down the buy button, ultimately stopping the squeeze. On top of that, other brokers besides Robinhood also limited trading so it's not just a Citadel/Robinhood conspiracy. While I do believe that the markets are being manipulated by market makers, brokers, banks and retail, I just don't see the clear evidence without having to read between the lines. I guess we'll see if anything comes of it. #MOASS IS A FANTASY Get rekt kids There was a time we used to talk about day trading here. This sub is ruined with all the GME cult nonsense, take that shit to supserstonk this is meant to just be a sub about daytrading setups. News and/or opinion like this does not belong here. Who else is printing money on GME shorts rn? [removed] How the fuck has this not been removed yet? Not relevant to daytrading. Fucking apes ruined this sub. What's the evidence here? A few tweets? Prepared to be downvoted to hell for saying this, but those robinhood emails were debunked on the Superstonk thread 2 days ago. The original source being cited didn’t have them in it. Did Ken Griffin lie? Still looks like it to me. But there are motherfuckin snakes on this motherfuckin plane planting false pieces of information that could hurt the stock. [deleted] Can someone explain this to me? Did citadel restrict trading of meme stocks which in turn forced rh hand or are they as bad as each other? Nice video man. For us day traders - it’s adapt or die with the massive volatility this market has. I put 25% of every trade win (regardless of other losses) into more AMC. I consider AMC the best swing trade of all time - and I will only be averaging up until this thing goes parabolic. I lost the 28k i made because of these assholes. When do I get that back. Oh yea never. When do they go to jail oh yea never. Duck this system we agreed to. Ken Griffin is literally trying to gas light millions of people. The audacity of this guy to come out and tell us our eyes are lying to us when the proof is right in front of us. Fact of the matter Kenny, you lied. You were on the wrong side of a losing bet. Then turned off buying to take out an even bigger short and swindle millions of people out of hard earned money. It’s odd to see corporate magnates and rich-as/fuck people writing emails… they almost sound like regular people. Makes you wonder… You goin TO the FED PRISON BITCH! [removed] Go and educate yourselves my people r/superstonk I guess he's being truthful because he said that and he didn't do anything wrong...... No cell, no sell! No one else sees the deep fake value here? Kenny boi goes to prison. Robinhood had to know that Shitadel would throw them under the bus the second something went awry. Fuck yeah He blinked once. ”Yes we are very proud we provided liquidity by shorting the fuck out of all the stocks you guys like. Fuck you lol” That’s how I read it when he’s bragging about them ”providing liquidity” How do we sue ken griffin? Citadel? Vlad? How do we make this right? Ive cancelled my robinhood account. Snakes Go Down Together 🐍 #nofreejailcard He looks like a spoiled rich kid. He may not have started as that, but that’s who he became. Ken said not to buy IPW cause they have over 300k shares short. They thought the float was 3.5m not 350k This is what we are up against that’s why I hold AMC and GME Liar!!! step one, get off robinhood. step two, get into day trading futures market. most trust worthy thing to trade SERIOUSLY FAM I spent a decent amount of time educating myself on Day Trading just to get slapped with this crap… Bro if you thought the system wasn't absolutely rigged in favor of market makers and institutional investors you are lying to yourself or naive. Those with large amounts of money are held to different standards. They will lie, cheat, steal, extort, etc. to keep their money and grab even more. This shouldn't surprise anyone. The whole system is setup against retail traders. Exactly Are you talking about Kenneth Griffin, the notorious liar? I think the evidence will come to light eventually. That being said, evidence these days, can be doctored and manipulated so much anyway, that unless these people get indicted, nothing will really come from it. And we all know they won’t fucking even be stripped of an ounce of credibility. So here’s my hot take: gone are the days where you, a simple ol’ nobody, are provided clear and concise documentation and evidence. You’re headed down a road that you will, quite literally, never satiate. Therefore, trust your gut and don’t be swayed by manipulation and the news. Easier said than done. Did other brokers allow selling but not buying? Also order brokers don’t matter, all the vigilante Robinhoods were on RobinHood! That’s their name! AND mission statement When citadel doesnt let you invest in citadels then that will be fuct too A scandal involving the firm that handles nearly 50% of all retail trading volume is irrelevant? And when Citadel is combined with Virtu, their volume exceeds that of the NYSE. But yeah, we get it. You've committed to acting as if the whole GME affair has been the product of lesser minds. To walk it back now would be no small task. Yeah, unsubbing after this comment. I'm sick of the GME cult brigading every financial sub. They were supposed to be banned from doing it. Let's talk about the rigged market before we talk about trading. I looked them up and none of what you said even made the list. Since when is direct eye contact a ‘deceptive indicator’ LMFAO wtf Holy shit. You're dumb as a rock. Stop making us look bad with this hyperbolic pseudoscience shit please Rent.Free. Ok, mother fucker you make it sound as if no one on Planet Earth Day trades GME|AMC?! Nothing. No evidence. People are upaet and grasping at straws. Just wait til GME drops back to $15 and AMC to $3. People are really gonna be mad then. Yeah I don’t see anything wrong here… [removed] Evidence? [removed] Citadel “weaponized” Payment For Order Flow (PFOF) by saying they would no longer be paying the fees for “meme” stocks forcing brokers using that as their business model to disable or restrict buying in said stocks or pick up the bill themselves in the January run-up. Have in mind over a billion shares of #GME were traded in January alone. At the time the available float were only 25.9 million after Ryan Cohen bought over 9 million shares in late 2020. It’s weird that they can selectively pick out what stocks to pay for or not. A fair market. Citadel also just happened to have a very big short position in the entire “meme” basket of stocks. Conflict of interest? This strategy would be more at home in wsb You poor ape [deleted] To play devils advocate how is anything in the video actual truth? Please enlighten myself and others who seem to not see it, especially since you've been following it and claim it to be 100% true. This video has very little to do with daytrading specifically and seems to be more about stocks, retail stocks at that. Sure daytraders are affected but does this really belong in this sub? This kind of statement requiring hard evidence to prove its false should be backed with how it's true otherwise its all speculation from people on the internet. Thanks for letting the apes ruin another good finance sub EDIT: This jannie just banned me lmao [removed] I think the majority of us americans fall into either of those two categories tbh. Oh you mean Ken Griffin CEO of Citadel who lied to congress under oath??? That Ken Griffin?? What I would anticipate is that, assuming the SEC actually does their job, they would start pressuring associates with prison time and offering them deals to get them to rat out their colleagues. Even if some evidence comes up I bet there’s still zero chance that anyone who should go to jail, goes to jail. They just throw 1 guy under the bus (probably vlad) if we’re very lucky but most likely they’ll just dunk their balls on our face Occum's Razor. So KG may have lied, but what reason do we have to believe that Citadel wasn't simply trying to avoid a liquidity issue? I could seem them being very worried about a ""run on the banks"" sort of scenario in an internet meme stock situation. At a certain point, they have to do something. Otherwise, they could be at the epicenter of a very big issue. IBKR stopped allowing people to buy. CEO even went on an interview and said GME was only worth $26 lol. Almost every broker beside fidelity, vanguard and schwab (lightspeed I think too) didn't stop trading. I believe interactive brokers even stopped trading. Yo. Where you been?! Tons of shitty brokerage apps did it. \>You've committed to acting as if the whole GME affair has been the product of lesser minds. Dude, I'm a TA. I don't give a fuck. If you want to talk trades, we can. [https://www.tradingview.com/chart/GME/cfvrl11o-GME-bearish-crab-pattern/](https://www.tradingview.com/chart/GME/cfvrl11o-GME-bearish-crab-pattern/) I only care about trades. Here's my position. ​ u/buzzvariety you think your opinion of me and ""Not backtracking"" means more to me than market moves. It's bullshit. I'm a trader. Moves matter. I posted a short analysis on 350 and it was deleted because we ""Do not discuss buy/hold strategies"" here - but all the bull ones seem to fly right on through. Go ahead. I'm trading. Most interesting market days in months - I'm not one of the ""Day traders"" hanging out discussing theory on such days. ​ Market moved the same in 1920s as it does today [https://www.reddit.com/r/BeatTheBear/comments/op5lqu/a\_technical\_study\_of\_the\_world\_war\_one\_crash\_and/](https://www.reddit.com/r/BeatTheBear/comments/op5lqu/a_technical_study_of_the_world_war_one_crash_and/) \- [https://www.reddit.com/r/BeatTheBear/comments/or7fc2/why\_do\_the\_recoveries\_of\_1920\_and\_2008\_look\_so/](https://www.reddit.com/r/BeatTheBear/comments/or7fc2/why_do_the_recoveries_of_1920_and_2008_look_so/) ​ The way I see it, if you want to sit at the table you learn the rules. This dude probably watched Lie to me and thought there were actual deceptive indicators. If Ken gets to create his own version of reality, I suppose AcidEyezz does too🤷🏼‍♂️ I'm dumb? What does “Deceptive Indicators” mean without looking up? Your post isn’t about trading. It does not belong here—it’s only still up because mods here aren’t around much during non market hours these days. You’re in a cult, get help. [removed] Look down stupid Are you braindead? I'm talking shit because nothing has happened to him so far (I listed this shit because he has friends in high places) But ya “FUCK HIM IM BROKE HES RICH GRRRRR” [deleted] lmao seriously wtf 🦧make $. 🦧big happy. Nope. I submitted a sell order for $390 per share the night before but that didn’t matter as the system didn’t reflect me doing that the morning the shit hit the fan then I was unable to manually sell my shares for less or any gains because I like all other day traders got locked out for 2-3 hours the morning it tanked. I’m not a Q guy just because something bad happened to me. Not everything is a conspiracy. This happened and it’s well documented. Fuck off. This is the same mod who said he wants to “Lynch Ken Griffen” in this removed comment https://reddit.com/r/Superstonk/comments/pwpjjn/_/hejif44/?context=1 Who tf made this guy a mod, he has contributed absolutely nothing to this sub in the form of posts or comments and refuses to clean up the trash from the apes as seen here EDIT: This jannie banned me lmao You feel molested?! I feel like they ripped my pants off and butt-raped me. That’s a big assumption Yeah. TDA limited me. I ended up getting out of my calls with over 100% gain but I was up almost 10x before the limits. There must be a typo in this post I don’t have much skin in this debate, my comment only addressed that my understanding is that rh was the only one to stop buying, but allow selling Not sure if Fidelity throttled me but I very clearly remember how their app was constantly crashing. My account balances didn’t reflect. Scalping was impossible at times. If you really were a trader, you'd realize that what's taken place with Citadel and Robinhood has profound implications for retail. They effectively changed the game because they didn't find the outcome favorable to their bottom line. If this goes unpunished, it sets the precedent for retail being relegated to exist as passengers instead of participants in capital markets. [deleted] indicators of deception.. Yes you are dumb [removed] Ok, Mr. ""huge conspiracy theorist"". 100% agree. I swear I see about 10x more made up shit about this whole situation than I do real facts. Basically, the internet was placing orders at an alarming rate and MMs got nervous, so they put a stop to it. If this were real stock purchases and not fractional shares, maybe the situation would be different, but I honestly don't see where the concern is coming from other than randos on reddit who are pissed their $500 RH account shit the bed. The alternative scenario is that the internet does some insane run on GME and causes all manner of chaos. Is the preference that they did nothing and risk? That’s when everyone else average down and holding for a run up. Wait for another catalyst with volume. Let apes keep ticker alive. That's what apes do, they spread their toxicity like a bad rash, they've ruined anything to do with stocks in most places on Reddit and are so obsessed with their conspiracy theory that they couldn't care less about anything else. They don't care about either of the 2 companies, they just want to get rich quick off the MoAsS. I hope Adam Aron turns out to be a dark horse and completely fucks them over, nothing would satisfy me more. If they put half of the effort into learning how to trade properly, they wouldn't even need a squeeze. Nothing pleases these people who have been watching a 1 minute chart for the last 6 months, maybe more, waiting for a squeeze that may or may not ever happen, its pathetic. Apes are the most toxic community in the stock market by a country mile. Well it feels like I stepped on a Lego! You got butt raped lucky!!! I feel like sec,rh and citadel did me air tight!!! Plugged all my holes wait I have dick. You know what I mean lol A lot of them did Their app is already problematic without the extra traffic those days brought 😂 I've got news for you buddy, retail has always been passengers. ""If I was really a trader"" I'd be posting my trades. Grow the fuck up. What's happening in the market? Is this news hot off the press? Is GME $1,000? I am a trader - so I trade what happens, not what you think should be happening. If you were a trader, you'd do the same. Or not last long. If you want to talk to me about trading, post your entry stop and target. And if you only have an entry - that's not trading. Don't talk down to me as if it fucking is. Then we'll compare trades, trader. ​ u/buzzvariety Post your TV account. You're the one that can tell everyone who's a trader and what we should know. Let me see your trades. Oops my bad I meant to say OP, not you. I actually agree with what you said, and edited my comment It's not worth arguing with these people. These are the same people that believe that GME is worth more than $3/share and AMC is worth more than .50/share. The fact that you felt emotional enough to repeat what I said as a comeback lol Well atleast they where Legos... I mean, you still have a hole. He says as he rides a Harley out of an exploding brokerage. Never looking back, of course. But seriously, what event or timeframe do you blame for kicking off the situation that led to what we see now? Or in your case, had already seen long ago. LOL. I see your saucy edit. TV is lowest common denominator tier. It's a solid place to learn, ~~but also a great place to selectively edit your content to look like an oracle.~~ What would I gain by showing you any proof of my trades? Your respect? We've already established that it would mean nothing to me. For a trader, you sure have missed addressing your desire for an exchange without clear incentives. Funny because for months everyone in GME & AMC have been saying we KNOW the price of the stocks are not what their true value should be. Everyone knows their prices will drop back to a “normal” price eventually. “These people” aren’t as dumb as you keep trying to make seem in your multiple comments, I promise. I feel like I'm speaking with a short bus 3rd grader. I sometimes forget that Reddit has all types including those with an IQ under 60. Good luck! Your god dam right I do!! As for retail being passengers, well \*gestures broadly at everything\* But if you're asking what event I think led to the GME saga then my answer is I don't really give a fuck. I got briefly sucked into the cult at the beginning but was able to get out with measly profits and moved on. Having you guys crusading every financial subreddit and even non financial ones is honestly the worst part. You're full of shit. TV allows edits for 15 mins and you can delete ideas. [https://www.tradingview.com/support/solutions/43000477695-i-d-like-to-edit-delete-my-idea-or-script/](https://www.tradingview.com/support/solutions/43000477695-i-d-like-to-edit-delete-my-idea-or-script/) I use it because you can't ""Trick"" it on swing analysis. You really have no clue what you're talking about. ​ u/buzzvariety \- See my comments about the real market move being more important to real traders than bullshit reddit opinions. I care more about trading well than making you think I do - I do not even know you. Get over yourself. I think we're done. This is what all traders do when you ask them about their trades. I think now we're gotten to the bottom of my distain for the subject matter - it's not that I dislike GME or GME investors, it's that they can not have a grown up conversation about trading. But sure seem to be able to tell me what I should be knowing. Take that where it belongs. DFV doubled down on his shares at IIRC 100$, so it's worth at least that much \^_\^ Yeah I’m not sure what him being rich has to do with him lying… 7 holes to be exact. (Not including pores) Wanted to see if you had anything of substance to say. Nope. Good talk though, you had a killer comment up there! I didn't know that. Good for them. I was never attracted to what TV offers so that's why I have a blindspot. I'm not ashamed to admit I was wrong about it. But the rest of what I said was true. My mistake was engaging with whatever this whole thing turned out to be. ""Show me yours since I showed you mine."" If that's your thing, go for it. But it's not something I find enjoyable. And a reminder that you volunteered your TV link without prompt. Not getting clicked by me. The mystery is more exciting. But go on with your bad self. Hit those charts. You have a passion for trading, obviously, but you might humor the possibility that retail being denied a squeeze has market-wide implications. Because they don’t trade. They “buy and hodl.” Honey, I’m not sure you’ve had a grown-up conversation yourself, here. Grow the fuck up. \~$154. So you are counting you’re vagina and pee hole as one?? Oh k oh kayyyy Oh I'm sorry, since I didn't join in on your circle jerk about gamestop I don't have any substance? Or is it because I didn't give you a complete history seminar on retails position in the stock market? And you regurgitating all this ""god tier DD"" is substance? Please for the love of god, fuck off back to superstonk... You didn't know that- but you could tell me. I think we have a theme. Goodbye. I've come to meet people on the level I find them here on Reddit. Gladly. They would've seen what I asked as an easy question. Citing something like the dismantling of the Glass-Steagall Act. You, on the other hand, react like a punkass when presented with a simple question. You made a comment referencing your knowledge of it being a long time thing. Yet had nothing to back it up. Definitely damning that I didn't know about Trading View's content policies. Isn't it? Take your wins where you can, I guess. A pyrrhic victory to be sure. Pretty sure you just unabashedly promote yourself and nothing else. Vis-à-vis circle jerk. I react that way because you cultists brigade, crusade and shove your ""simple questions"" down everyone's throat. That's the real punkass action. This seems a bias point of view. We were discussing trading. I posted trades to show examples of strategies I think are useful for trading the asset in question. However, if you think this is inappropriate then we probably will not get much further in a discussion on that subject matter. So I'll wish you all the best. You acted like a smartass in your first reply. I actually made an effort to be polite, because it was clear that you just said some shit to say it. I tried to genuinely make sure I wasn't making assumptions about you that weren't fair. I even made a stupid joke. But here we are. Fuck me, right? Lesson learned. The way you’re talking to everyone, yeah, you’re right. You can block me. It an effective feature. I could. But that only solves the problem for me. I’d rather police you in the hope that no one follows you anywhere else." The 4 Trading Fears (and how to conquer them),1325,https://www.reddit.com/r/Daytrading/comments/l9ngk2/the_4_trading_fears_and_how_to_conquer_them/,"Nice post man! Enjoyed the read Man, legit just printed this out and put it above my desk. 🙏 Thanks for the advice! I’m Getting another start at Trading and can use all the advice Very good and useful for a lot to remember. Too much fear and greed in the market this past month ...well..this past year. Saved the post. I like how you presented solutions for each problem. Would like more of these in the future. Anyone got a link to it? It's been removed Here's what works for me. No matter the trade, I remind myself that I only need to make some money, not all the money. This is my number one fomo mitigation trick. I am saving this post. Thanks for putting the effort in on this one, this will really help some people out. Saved as well. I’m new to trading and found this immensely helpful. Thank you for sharing! This post couldn’t have come at a better time.. right after a big win, huge ego. Need to keep it in check. Thanks for the reminder! Saved this great post. I never saw it as a probability game. All of a sudden there's clarity in the chaos. Id suggest this: https://youtu.be/QgaTlTfQnZI Watch all 4 videos... Do what he says. I think it's fair to say that most people don't realize the huge difference between paper trading and trading your own money there's a psychological berry that you must overcome and you must have a mental attitude that is positive. because you can trade and lose four or five trades in a row and that only puts the odds in your favor for the next trade to be a winner , then you just have to accomplish basically what is called the three to one rule. ThNk you !, Save Awesome post! Thank you Quality content my man. Good job Saved this as well! Looking forward using theses! Leaving a comment here to read back in the morning (2:39am) looks like a great lesson for a starter like me Awesome. Thank you for this! May I ask, how long have you been trading? Good read for a novice like me!!! Good advice, have a nice day! Great points. Sums up everything I've gone through in my trades very well. I'm going to have to try incorporating these solutions. Thanks for writing this, great advice. I’m new to trading (less than a year) and am excited I finally found something I’m passionate about. I would love to be able to make this work as my full time job like you have accomplished. Congrats on your success and thanks for helping others [deleted] Awesome post! I'm printing this out and adding it to my Sunday review routine. It's like you were speaking directly to me the entire time I was reading it, thank you so much! It's been a discouraging week, this renews some hope!! Awesome post! I've been studying up on swing trading strategies, indicators, and what kind of mindset to have when trading. I'm going to start trading intelligently this week, and this post is going to be in my favorites, to remind myself to keep good habits. As someone that’s starting the education process of (hopefully) a long-term day trading endeavor, this is exceptionally valuable advice. Thank you! Needed this. I made a bunch of gains last month and took a couple big hits over the past month because of my ego. I think I'm going to read this every morning. What a nice post to come by, thank you for this! Good read to end the weekend! 🔥 very nice. You forgot the fear of being a paper handed bitch This is 100% spot on. Thank you for writing this up, saved! Very well said and I’ve come to the same conclusions after 6 consistent months of trading Great post. Definitely see some of my thought processes here! [deleted] Probably the best and most intuitive post I've seen in a long time. Because these things matters most while trading. Keep it up! This was very good and summed up a lot of what I've been trying to observe in myself as I learn and grow as a trader. Especially the parts about ego and fear. I am working hard to overcome those two aspects by, as you say, looking at my trades and strategy as good or bad, performing or not performing, and figuring out why. 99% of the time when there is a problem it is because my ego or my fear led me off path. At least now I know to recognize when it happens and just stop trading until I can recenter myself, even if it takes days. This won't work for everyone but I have found that coding indicators for myself and building data loggers that capture detailed indicator metrics throughout each day really help me to remove emotion from the process when I go back and analyze my past trades and my behavior and use that learning to focus my plan for the future. This is super helpful! Learned a lot about the market in the past month. After reading this, I know it’s gonna stick with me. Thanks for the write up and wishing you good trades! [deleted] This right here. I took advantage of Doge coin and bought $100 of it at 0.01... and sold it at 0.02... when I had heavy potential to hold and make an extra 5x my money even if I pulled out at .06 which was my plan but I got scared. It was my first crypto trade and probably last so I am happy to be successful on it. Fears are nicely given and so are the ways to conquer them, what's difficult is to actually apply them on ourselves and trade keeping those in mind. Great post! Very informative 📈👌 Truly a good read! Exactly what I needed to hear as I am a newer investor. I appreciate it! Nerves of steel. Over time, I have developed nerves of steel. This hasn't always been a benefit and many times I would have been served better had I just taken my lumps and moved on. That said, if you have a strong conviction for particular buys / sells it sometimes pays off to chase a purchase even when it drops below your initial purchase. Many, better than me, would suggest you never chase a trade. I suggest that if you thought something was a deal when you bought it, you must buy more when it drops. Great info. Thank you. Well written OP! All in touch with the reality of trading Thank you! This is very helpful. It describes a completely different mind set vs regular investing. I’ve saved it and will return to it as I attempt to pick up this new skill. Quality post. These are the big 4 fears for sure - Thank you. These are very valid posts and have had a huge impact on my trades for the last six months. Especially the part about having both an entrance and an exit point. Also logging your trades including why you entered, the date, the price and the reason for adding a closing price when buying has really help me a lot. [deleted] Only been at this since mid December, but reading through this and finding myself nodding along and thinking of specific trades that fit some of these descriptions so accurately. I struggle with FOMO the most. Thank you for this! Awesome guide. QU This was pretty awesome, thanks a lot for the post! I think I'm going to bookmark this and come back when I need some inspiration. saving! nice post I am buying physical silver to fight inflation. It has always been undervalued, long before this whole hype. It has minimal risk but huge potential. If you want some advise on which kind of silver coins are good to buy, feel free to PM (personal message) me anytime :) It means a lot to me that you got some value from this post! This seriously means the world to me. All I want is to help as many people as I can succeed in this amazing sport of trading. If you ever need anything during your trading journey, please don't hesitate to reach out! Damn this was deleted by the time I got to it. Mind sharing the file in. direct message, please? Glad you enjoyed the post! PM me if you have any questions on your trading journey! I am happy to help in any way I can. Very true. Glad you got some use out of this post. Happy trading! Stay safe out there. Request noted. I'm glad you got value from this post! What topics would you like future posts to be on? (be specific!) https://www.removeddit.com/r/Daytrading/comments/l9ngk2/the_4_trading_fears_and_how_to_conquer_them This is a great trick! Green above all else, right? Consistency is key. Trading is a slow-growth game in reality. That's all I want! I am super stoked you got some value from this. Feel free to PM me if you have any questions on your trading journey or need anything - I'd love to continue to help you in any way I can. > found this immensely helpful This makes me so so so happy to hear! You are so very welcome for sharing. I am just stoked I was able to help you in some way on your trading journey! Don't hesitate to reach out via PM if you have any questions as you learn this amazing sport. I'm so happy I posted it at that time then! You got this. Hold onto your profits. Stay disciplined. > All of a sudden there's clarity in the chaos. ""Ah-hah!"" moments are the best. I actually have written down a goal for my education stuff is to give people as many ""Ah-hah!"" moments as possible. Going to +1 my tally, thank you! Hopefully I can provide you many more in the future. > I think it's fair to say that most people don't realize the huge difference between paper trading and trading your own money Very true! I like to say that paper trading is not a way to practice for live trading. It is a great way to practice using a new platform or get used to a new format of charts, but it does not prepare your mentality for live trading. You're welcome! Smart Super happy you got value from it! I just want to help...especially with all of the newcomers starting their trading journeys from $GME. Let me know if there is any way I can help you on your trading journey! It takes quality to see quality! And thank you, I'm just happy to help. Please report back after using these for a little while! I'd love to hear how this impacts your trading. Good morning future u/SF_TheLostBoy! You're welcome! I'm glad you got some value out of it. I have been trading for a little over six years. Trading has been my full-time income for five years now. Awesome to hear! Feel free to reach out if you have any questions on your trading journey. Stay safe out there! You have a wonderful day as well! Let me know how your trading and results change after you incorporate these solutions! I'd love to hear if this education make an impact or not so I can adjust accordingly. Nothing brings a bigger smile to my face than seeing someone find their passion! I am super grateful to now be a part of your journey. Best of luck to you my friend! (but you don't need luck, just discipline) You will make this your full-time job if you keep that as your intention. Just keep pushing through the losses and making even bigger wins. Consistency is key for trading as a career. You're welcome! Thank you for your kind comment :) Awesome reader! I was speaking directly to you...you are exactly who this is for. Someone who takes education seriously and wants to truly grow as a trader and not just make a quick buck. Thank you for giving me the opportunity to teach you something. I truly hope to be able to help you more on your journey! If you ever have any questions or need help with anything, don't hesitate to PM me. And...head up after this past week. Think about the 100 trades. You got this! I am honored to have a post in your favorite, but above all else - I just truly hope this helps you become a better trader! My pleasure! Keep learning, keep putting in the work, and stay strong. The market is a wild sea but this sport is exhilarating and extremely rewarding if you give it a chance to be. I am honored to be a part of your morning routine! I truly hope this helps you become a better trade. Please let me know if you get some improvement in your trading from this so I know that this style of post and teaching works for you! My pleasure! If there is anything else you are just dying to learn that has value like this (not ""how do I make profits""), please let me know so I can add it to the list of posts to make like this. And hopefully a good weekend to match the read! Are you talking about yourself again? ;) Ah shoot. I felt like something was missing. Maybe for the r/wallstreetbets version... Thank you for your kind words! I am happy you got value from this post. Stay consistent! Then you are already ahead of the curve. Keep up the great work! Welcome to this world! I'm happy to help guide you if even in the smallest way :) Thank you for the compliment! I am stoke you got value from this and see the value in conquering your trading mentality. I have had a few mentorhsip clients in the past who did tons of data analysis to help remove emotions. It definitely can help. Another idea that might help you, if you are a visual learner, is to picture a Trading Thermometer. As your greed and ego increase and you take more and more trades and maybe bigger risks, your thermometer goes up as your trading gets ""hot."" If your fear increases, your ego takes a hit, and you start taking fewer and fewer trades, your thermometer goes down as your trading gets ""cold."" The key to utilizing this Trading Thermometer is to think about how you will subconsciously react to a hot or cold thermometer. If your thermometer is too hot, your reaction is immediately to stop trading or take smaller risks - but this reaction isn't necessarily rational. If your thermometer is too cold, you might get reckless and take bad trades just in an attempt to warm up your thermometer - this too is not rational. Always keep your thermometer in check and take rational actions (instead of leaving it up to REaction) to keep your temperature at equilibrium. Welcome to this wonderful sport! I am honored to be able to stick with you on your journey. I wish you the best in your trading as well! Do you mean when market conditions change a specific strategy doesn't work as well? You can either adapt the strategy or switch strategies in this case. Paper-backtesting will almost never give the same results as live trading because of emotions (at least at the start of your career until you learn to trade like a machine as I put it). However, if a strategy is giving you 45% win rate over 100 trades, consider your average win and average loss. If you are green after 100 trades at a 45% win rate, the strategy could still be viable. The key to this is to focus on your profit or loss after 100 trades. Then look at your past 100 trades and see if maybe exiting at your 2R level instead of 1R would have resulted in more profits at the end - if so, then you tweak your rules and trade accordingly for another 100 trades. If a strategy seems to be at its full potential and you are still underperforming the market, then consider trying a different strategy and going from there. TL;DR There is no win rate that determines a bad strategy because average win, average loss, profit factor, and other variables matter too. Tweak a strategy to get the most out of it and if ""the most out of it"" still isn't good enough, then change strategies. When you create a trade plan before taking a trade, especially as a beginner, stick to your plan! The reason we create trade plans is because it is difficult to control emotions while in a trade. Before you took the trade however, your emotions were not attached to the trade. Congrats on your huge 100% profit though. Be happy with that (which is sounds like you are). No FOMO. You made a SOLID trade. Now learn from this experience and use these lessons to better your next trade. Learn lessons from your next trade and use those lessons to better your next trade. And your next trade. And your next trade. You have a long and amazing journey of learning ahead of you! I wish you the best. Reach out if you need anything or have any questions along the way. Very true. Trading is not easy. Practice makes near-perfect. Keep reminding yourself of these while you trade and the lesson will dig deeper and deeper into your brain until eventually it is second nature and you don't even have to think about it. Glad you got some value from this. Happy trading! I appreciate you jumping into this amazing sport and taking the time to read this post! I wish you the best on your journey to becoming a consistently profitable investor. There definitely is a factor of intuition in trading success. Thanks for sharing! You're welcome! Thank you for your kind words and for taking the time to read! I wish you the best in your trading. Props to you for taking on this journey and learning new skills. I am happy to have been able to help in some way! Quality reader. Thank you for your time and for seeing the value in this post. Thanks for sharing your experience with these lessons! I am happy to hear you are learning solid lessons along your trading journey over the past six months. I wish you the best on your trading journey! I wish you the best in your journey! I'm happy I was able to help in a small way :) Much obliged dude! I may just take you up on that sometime. I’ve been putzing around for a year or so in the bull market, but I’m sure I’ll be clueless once the other shoe drops lol https://www.removeddit.com/r/Daytrading/comments/l9ngk2/the_4_trading_fears_and_how_to_conquer_them [deleted] Not sure, maybe a post on strategies. Something simple and beginner friendly. 20 years man. This game has nothing to do with intelligence or ability. All you need is price and volume. 1. Know a handful of stocks and only trade those. Aim to trade stuff you don't mind holding anyways. Don't try to be everywhere. 2. Trailing stop losses. If you get stopped out, no biggie. Only buy back if it dips deep below. Don't dive back in if you get whipsawed. Aim for a $1,000 of new money per day. Once you get to critical mass, this is almost automatic. 3. Have a yolo stash where you can participate in the meme of the day so you don't feel bad for missing out. 4. Stash a portion of wins away into hold- forever stocks. For me this is the semiconductor index. How can I know if it's a big win.. Dollar amount or return %? I started using Reddit 2 months ago, so many good people here Well get back to on Friday! That’s awesome 👏🏻. Wishing you much more success on your journey. Thanks again. Thank you! And I def will, reading through all this made me realize how I ended having small losses for past couple of days, but also how I was able to made big gains and capitalizing on it. Journey through all of this is so eye opening and I just love to keep learning until I actually get good at this and not just lucky. [deleted] Thank you! I will have to take that advice. Very much in line with my own trading philosophy, look forward to future posts! Thank you! [removed] For #2, what is the critical mass in your opinion? > so many good people here Because you're on here! Belated welcome to Reddit. Thank you and to you as well. > I just love to keep learning until I actually get good at this and not just lucky THIS is what will keep you ahead of the pack. Great mindset. You have an amazing journey ahead of you! Nope, that's a model I created for my teachings Yeah something like that works. It's funny, I can't actually state an amount as it was a long time ago. For me it was when I could afford to cycle 3 to 5 different companies. 200 shares each. Each with an average day range of 5 or so. Current examples for me would be SPCE and AI." The best thing I’ve read all year,1329,https://i.redd.it/h4yr9p8ihhf51.jpg,"This is from The Disciplined Trader by Mark Douglas. I’m printing this out and taping it to my monitor and tattooing it inside my eyelids. After several months of incredible returns nearly every day, I decided to get cocky today and gave up 1/3 of it in a single trade. I needed to read this, and I hope it’s just what someone else here needs to hear today. Trading in the Zone by Douglas— good read too. Also, What I learned losing a million dollars. The best book out there entirely dedicated to the psychology of trading around a system, defining your rules, and eliminating all the common trading errors that lead to blowing up an account, including position sizing. https://www.amazon.com/Learned-Million-Columbia-Business-Publishing/dp/0231164688 Reminisce of a stock operator is good read. Me reading this as I’m holding ADTX since 8.01 🥵🤦‍♂️ Make a trading checklist, if the boxes can’t be checked, don’t make the trade! I know, waaaayyyy easier said than done Needed to read this ! Thank you so much ! I do have this printed out... THERE. IS. NOTHING. WRONG. WITH. SITTING. ON. YOUR. HANDS. Thanks for this post, its great. Been there done that, i guess thats the price for experience. This is exactly what I do. Trade on calculated profit rather than imaginary risk. In between that is when you must educate yourself. Not a day trader, but love to follow along with you guys. I do want to make a point about the psychology of winning and losing money either through investments or gambling: often the psychological hurdle isn’t recovering your psyche when you lose a large sum of money (assuming you are playing within range of your bankroll), but allowing yourself to take the risk that is beyond your comfort level. Having made and lost large sums of money making big bets with big risks can lead to a devaluing of money it’s self, and can allow you to take risks you might not normally make. This can be good and bad in its own way, and probably shouldn’t be a part of any safely structured incremental investment strategy, but for those you who look at this stuff like the WSB guys, is an important element anyone who has gambled big money and win/lost has experienced. This is 100000% fact!!! It's sooo hard for people to follow their OWN rules.. it's crazy! Great read! This hits close to home, I remember when I first started and saw a lot of psychology books being recommended and I brushed them aside as irrelevant, I was all about candles and patterns. It took me an account blow up to go back to square one and doing it properly. Reading his other book now. On my life Another great quote by him is: “We need to be rigid in our rules and flexible in our expectations” “A typical trader does just the opposite: he is flexible with his rules and rigid with his expectations, the more rigid the expectation, the more he has to either bend, violate, or break his rules in order to accommodate his unwillingness to give up what he wants in favor of what the market is offering” Payed this price yesterday. Thought I saw a good entry, made too big a bet, didn't have much of an exit strategy because FOMO. Lost 1.5 months of gains in a few hours :( The more i know about trading, the more i trade the more i know that it is risk adjusted gambling and there is no definite way to make a money like a job Super cool you posted this on my first serious red day in my first 3 weeks of trading. Did not follow my risk guidelines and lost 9% of my overall account, here’s to learning lessons! Cheers! i am reading this book! :) 😝 love Mark Davis. RIP. Today I broke one of my rules and took a hit and spent all day trying to get some of it back. So that is a brilliant thing to read at the end of a tough trading day and it’s totally true. That’s what distinguishes a trader from the gambler. It’s that a trader has internal set of rules that differ from a gambler just goes up and plays the market like a roulette wheel. When you play the market like a roulette wheel the house always wins. Amen Sticking to your rules will make you a consistent trader for the long term. But a lot of day traders have a problem with this because of fomo. I’ve been guilty of this a lot too in my past. But in this line of work, discipline has never been more important. I have the opposite problem. Happened to me today 😭. Made around $2k in profits in the morning. Got greedy (overconfident), entered another trade without following my trading rule. No hard stop loss set. Stock reversed and I stupidly bought more hoping it would rally back up. Eventually sold with loss of $1.8k. It hurts... Nice This hits so close to home... YES. Anyone can get lucky, but only the most disciplined can make profits consistently. This is so true. When I follow my rules. I consistently make money. When I get excited and try to beat the market or go against signals I lose it all back. My ADTX position was -700 when I woke up. I was up 300$ in this other ticker and then sold for -250 I don’t know how to take profit or cut losses after a green ass month, lost all my profit from last 2 weeks Trail stops are hard and that’s why we lose money cuz we too emotional We need to man up and trade the system not our feelings 😭😭 I be pulling out the prayer rug and praying The key is to define your rules fully understand your rules. That statement is useless if you don't know what rules to follow... Can't break rules if you dont have any. 1. ITM calls 2 IV of 90% or higher 3. B/A spread of no more than 10 cents 4. Sell @ 50% loss or gain 5. 2 weeks out expiry 6. Always more than one contract 7. Ask WallStreetBets for advice As a new trader - I went in with the mind set of just take the gains and profits as they come. Been doing decently well over the past month or so. Today I lost a lot chasing and trying to avg down. Never enough reminders out there to follow your rules! TY for the post This is so true , I commend you for posting this! There have to be rules that must dictate how you should trade and deviation from them will, indeed, cost you more but these rules are not set in stone and they should evolve as your ability to trade and understand the market better. I also agree with the point that it is much tougher to keep the gains than making them in the first place . It’s a process that needs to be fine tuned as the macro-economics and sociopolitical changes occur . Great piece !! You should never take market for granted or think you have arrived , each day is different filled with opportunities and pitfalls. One almost has to go back to the basics and understand that everyone can’t win , your losses are someone’s gains. That’s how the market works & it’s not designed for retail traders because they get the information much later than pros do, retail investors should stay in the lane and don’t trade pre-market full stop! Volume is thin and that’s when most of the manipulation happens . How many times have you seen a $5 stock go as high as $25 but then reverts back to $3-$4 when market opens ? I see it all the time, there are pros that pump and dump several stocks a day, don’t fall into that trap. Exactly, money management Thanks! This hits deep. This actually happened to me yesterday. Lost the money I made the previous day because I didn’t follow my rules Ehhh somewhat, I’ve been at it for 3 years and about 5-6 months seriously and have found a lot of useful info. Comment to learn more. What book is it [removed] Obv there is truth in this, but it’s also mental masturbation excuses for inevitable variance. A lot of your gambling wins come from “intuition” that when it works is retconned as rules or “knowing” but when it fails you blame it on “rules.” Meanwhile your rules have as much conflict as the Bible so no matter what you do there’s 2 rules saying yes and 2 more saying NOoooo! This. I made so much money but only took one hyper parabolic squeezer to give more than half back. I’m taking risk management much more seriously this month. Will keep it top priority to keep the gains. Psychologically I’m fine. I only feel comfort knowing that I figured out the issue that I’m now working to make sure that I never let it happen again. I gave back $120k of profits last week. I made back almost half of it in the last 5 days days though. How the fuck is this the 2nd highest voted piece of content on this subreddit? We’ve all read this book. Fuck corona because this sub has turned to complete shit I sure as fuck needed to read this—thank you i did the same today. 🤕 thanks for posting this, much needed. and thanks for the book recommendation 👍🏼 Yeah this week could have ended up a lot better and in the beginning it really was. I was setting myself up for some huge returns. But i got greedy and held a position for too long hoping it’d recover. Ended up losing all my gains from last three weeks. Im a complete beginner so i have been making small gains here and there. But this week i lost it all and some more! This was an important lesson for me, a very needed one. I had to learn my mistakes the hard way, this was necessary. You really do live and learn. Amen. I still get that “average down” mentality and then bail when it’s way too late. My man this is just what I needed, the part about the work it takes to get it back after you loes it is so true. Just gone live last few weeks, started to finish up every days, cleared like my best amount yet, them was waiting for a withdrawal to clear on Monday stated trading the Sunday Asia, and lost my whole account, first I lost what would of been my withdrawal then revenge traded after it and burnt my account, I felt sick my hands shaked, I just got I to bed wishing I could wake up and not have done it. Now it seems I can't get back to my performance form before So I have gone back to the books and learning as much about everything. Mark Douglas is great Peace Unfortunately I have had to learn the truth of this statement first hand... new traders take note. Every beginner trader needs to read this.⚠️ What was the move today? Today I lost 3x what I made last week Good read indeed Yeah living example here of failing to do that and making donation to the market. Great words 👏 👌 👍. Wish more people actually followed it including myself. Mental part of trading is hard Curious where you purchased this book? I see it on amazon and eBay for around $80. Was seeing if you found it cheaper somewhere else One trade in one day? WTF did you do? Just bought What I Learned Losing a Million Dollars. Thanks! Just bought it! Thanks. I got in and out twice from 12-1:30 for a $760 profit on ADTX today. Was tempted to go in one more time after, but stuck to my guns and didn’t. It almost immediately went from 8.70 to 7.90, so I was relieved. I’m still holding a loss from Monday (haven’t sold yet) and it’s slowly decreased from $1100 to $400, but I’m thinking of just cutting it tomorrow because it’s holding up a bunch of capital. I’ve thought of this too. Never put it to work tho 🤔😂 Sadly I am starting to think this is true, even with the rules, I think the computers are the ones to beat I'm there with ya, down 11% today and 15% this week Scared money don’t make none. I’m guessing by the opposite problem you mean you’re afraid to take any positions for fear of losing $5? Are you going to try to sell me a course? The disciplined trader by mark douglas Can I have it, please? There’s some validity to what you’re saying, but in this case you’re missing the point. Putting your entire bankroll on red at a roulette table and losing is NOT “inevitable variance”. That’s really dumb, and can be avoided always. Of course everybody’s going to have wins and losses, and some losses will absolutely be bigger than others. The ideas highlighted in the original text don’t try to suggest otherwise. The real message here is that it’s up to you to not take some absolutely retarded risk, like YOLOing on a hunch or buying 150 option contracts just because you can afford them and you feel good when your normal strategy revolves around just 1000-2000 shares at a time. What do you want to see more of on this sub? Contribute whatever you want. Based on a quick glance at your post history, tax fraud and degenerate gambling a la WSB and martingale strategies at a blackjack table are more your speed. Stop bitching here. I'm in the same boat friend, I'm scared to reload my account and loes it again, was doing great for weeks Bad habits and ego set in I guess. As long as we keep learning about the theory and about ourselves. Every mistake has vaule of we learn from it, even if it does kill our wallet Can't give up peace It’s embarrassing to even talk about it. I’d made a lot on a quick move from ETSY early in the AM, so I decided to check it out a couple hours later. Got in for 300 shares, it moved a bit the right way and my indicator still looked strong so I added 300 more and it quickly reversed and kept going. When I should’ve gotten out I was still shocked at how quickly it moved and I just kept watching it go down, down, down... I should also state that after 2 minutes and seeing how rapidly those shares fluctuate, I knew I should’ve gotten out and sought an opportunity elsewhere that’d be at least a bit more... readable. But of course, the violent moves were all the more enticing. I got it on Amazon a couple months ago for $31. It was my sitting that made me the most money! My sitting tight! Got that... Yeah I was editing my trail stop and shit dropped and then missed my next exit and now I’m just holding down 539$ so far I made 700$ yesterday so it just ate all that. I might cut it short here or wait till market open 🥵 the stress is real We gonna bounce back hard boss💪🏻 > Scared money don’t make none. So true. Lol definitely not Stuff like the #1 post all time on this sub. You really think we haven’t read this book, Tumblr girl? WSB is satirical. Those were for jokes Go read another trading book and see if that feel good shit makes you money. You really think this zero sum game is a dick touching party meanwhile you’re getting your account siphoned by the people who used to provide quality content on here And btw. Downvote this but don’t comment back. It’s just going to result in downvoting back and forth Were you reading level II at all?, a LOT can happen in a few seconds. Did you have an idea before you put the initial trade on where you‘d get out if the trade didn’t work? Where was your target? What was the perceived edge? Did u do fundemantal analysis I cut my loss this morning for about $105, and I just looked and sadly my $105 loss would’ve been a $300 gain now. Oh well Sorry your life sucks, man. Good luck with the rest of it. What does level 2 tell us exactly. Can you eli5 please. I’ve tried looking up this info but still cannot understand. Level 2 is only meant to manipulate. We only see maybe 2/3 of all daily volume. The ""dark pools"" account for the rest of the volume. #corruption Hell no, lol. Faggot. I guarantee you live at home. Probably not even old enough to remember 9/11 It’s not frustration at you but MAN this sub wants to see this?! Level 2 in general, or in this situation? In general, level 2 shows you the bids, asks, and the size of each. So if you see a stock rising to $10, and see a gigantic seller at $10, you can normally expect it to scare sellers into selling cheaper to get out below the seller. So if a huge seller is at $10, you can expect it to have a rough time with the $10 mark. If you see the size decreasing, that means people are buying it up and you can expect it to blow through the $10 mark easily and rapidly. Same goes the opposite way, if you see a huge bidder at $10, you can expect it to hold the $10 mark easily. It lets you see where the price is PROBABLY going to go before it actually does it. Obviously it isn’t 100%, but it lets you have a general idea It shows you where the supply and demand are so you can know exactly when the supply dries up and the price goes up, or the demand goes down and the price drops Haha the person says to you did you do fundermentals and I'm thinking on ETSYs haha cause that would work Steep learning curve but I highly recommend algo trading. Computers are disciplined in a way that humans cannot be. Yea that is probobly why it moved that quick “But MAN this sub wants to see this?!” Based on the number of upvotes, yes. Nobody was trying to offend you personally. Good for you having read that book, but many people haven’t. I didn’t plan on getting nearly the response this post got, and I wouldn’t care much either way. You seem upset that it’s gotten so much attention. Why? I thought maybe a couple of people would appreciate some simple encouragement. We’re all here to share thoughts and experiences and info re:day trading. That’s all I did. I’ve read plenty of other books and I’ve been successful. Also, I’m about 10 years older than you. I own two cars outright and a house. I have a wife and two kids. I also have a real job that pays at least 5x your alleged blackjack bankroll based on some your other posts. I’m not worried about your insults, I’m just sad about your state of mind. Peace out. Ok this makes sense now and I thank you. I understood that it gave the bid asks but I didn’t know how to interpret the data. Thank you kind stranger The $10 seller could also be holding the price down so he can load up before removing his block so it can resume going up. more often these large limit orders will be near the support or resistance... I do some programming and have a degree in statistics, so I imagine I’m capable of putting something together. What platforms/brokers/languages do you suggest checking out first? I'm a data scientist very proficient in Python and am starting to think seriously about algo trading. But from what I've read of other people's experiences, algorithms don't seem to stay profitable for very long. Is it true that they need constant tweaking, adjustments and retraining? If so, I think I'd rather stay manual. Do you or anyone you personally know actually make consistent money with algo trading? Serious question. Ohhh tried to pull out the my bank roll big dick trick A Redditor just said he makes 50k on a text Go read your book, faggot. And say, “Yes, sir” or some shit Yes it takes a good bit of learning to understand what it does, and how to interpret. The best thing is screen time. If you find a paper trading account that offers it, you can see it and watch how it reacts and once you see that, it’s easy to comprehend Yes there’s quite a few scenarios. Or he’s holding the price down since he’s a short seller who got trapped and wants the price to drop so that he can cover Even numbers like $10 are almost always psychological resistance, which is why I used that as an example I’m in Canada where Interactive Brokers is the only reasonable option. For language, Python is the most popular right now. Yes. It’s a lot of work. I’m not aware of anyone with a set-it-and-forget-it algo. agreed.. Cool. Good to know. Thank you!" "Burned my account, fully depressed.",1298,https://www.reddit.com/r/Daytrading/comments/mw7z3w/burned_my_account_fully_depressed/,"56 year old grandma advice here: Education is expensive. Even though you had a big loss, you likely have learned a lot on the rise up and on the fall. I know it hurts, but try to refocus and see it as paying for the education in trading. Take what you have now and begin again with what you have learned. You have a lot of years for it to grow. You will go through more ups and downs. Don't tie your self worth to money. I've had money and I've been broke. Money doesn't change who you are. It's only a tool. I started in Feb with 8k, got it up to $32k, then back down to $2k. At $4k now. Chin up, you’re still in the game! you’re still in the game, what you’ll pull from the markets over the next fifty years will far surpass this loss It always feels great when you're on a good streak and it sucks when you're on a bad one. Just remember that's exactly what the market is. It's up and down but most importantly it's not over. There's tons of people who take $2.6k and blow right through that $52k point you were at in no time. It can literally turn around in the blink of an eye with one great trade. Pick yourself up. Dust off. Do your needed DD on the next trade and carry on. I also want to tell you something about depression. My husband committed suicide in May. We fought constantly and about money up until the night he did it. To this day, money doesn’t have the same meaning to me. I need it but I don’t see the same value. Your family would feel the same if you did anything to harm yourself. Please remember that material shit can always be dealt with. Get help if you need it and talk it out. I'm 25 and am literally in the exact same situation you're in right now. Nothing really compares to losing a relatively incomprehensible amount of money in such a short time. Many people say it's ""just money"", but for me, and probably for you as well, it's much more when you think of the bills and debt that could have been paid with it. Learn. You absolutely have to learn, teach yourself relentlessly. I'm tell you, the only way you'll make it back is if you learn how to trade and/or invest. I'm not there yet and haven't made much back but I'm on my way. I've spent the past 2 months dumping ALL of my time into learning technical and fundamental analysis, and I'll be honest, I don't have confidence in my trading yet but the knowledge has given me hope. The hope is the only thing keeping me going. That, and a lot of support from my friends and family. I only tell them what I want them to know (they DON'T know how much I blew lol), but generalize mostly that I'm struggling and it's hard, but that I have a plan. I know it'll take a while to really get good, but after what I've learned, I can see myself being profitable in the future. You need risk management above all else. Preservation of capital is the only thing that will save you, you're in this game to survive above all else. This includes both stop orders and exposure limitations, as well as diversification of what you're trading. The money will come, but you have to set realistic expectations and understand it may take a few years. Trade small and don't allow yourself to blow up again. You need a strategy to tell you what setups to trade. You should use fundamental analysis to establish a bias (long or short). You need technical analysis to understand when to enter and exit a trade. Having a mentor helps, I haven't had much of that aspect yet but I've heard it's essential. Choosing the right market is also important. I wanted to trade stocks, but having a cash account makes it hard with settlement periods. Having a margin account is great but I can't afford to tie up 25k due to PDT, and to potentially lose it all again if I fuck up. I'm looking into forex right now, because you can still trade price action with any acount size and integrate a little news into your strategies. DM me if you want a little extra help. I'm struggling myself but I really truly believe it's possible to make that money back and eventually turn this into a career of financial independence based on the idea of being consistently profitable. I found out that for every person who YOLO'd their second mortgage on GME calls, there's a thousand people with loss porn they're too embarrassed to share. [deleted] Thanks for sharing the pain man, don’t hide it but share it with those who you trust around you, burden in life is meant to be carried with those around us. The closest thing I’m working on right now is my daily workout routine in the mornings. Often times I miss it and feels like the whole day is out of wack or just a giant sunk cost. But this morning, I realized that it’s in these moments that I am given the opportunity to pick myself back up by focusing on the next item on my agenda for the day to go tackle it. One step at a time brother, I’m with ya. Build it back up with 2k. You just paid for a 35k worth of training, and you have not failed yet. First thing first, consider your loss as a price for a hard learned lesson, an expensive one. You know now, how important risk&money management and having a well made plan and stick to it until you out of the trade which is discipline. You are so young and this is actually a big experience for your age. Give a break from trading and focus on stuffs you enjoy to do. And come back to trading floor like a real warrior. **Dont forget there is always tomorrow :)** You’re young take that 2.6k and shove it into a promising stock and forget about it build your $ back up and stay focused. I just recently started to dive into the markets myself so not any type of financial advice but I will tell you this. Out of all the reading I have done and all of the podcasts they all agree on one thing “takes the losses while your still young”. These are learning experiences for the older you get. Learn to set small goals and put in your stop losses and take profits. A lot of people want to ride it as far up as it will go. Problem with that is no one can predict the peak (not saying you did this). 37k at your age is amazing! 2.6k is a lot more than most have at that age. Keep your head up and play around with some paper trading to build up your confidence again. While you are watching your paper account you can begin building up your account to jump back in. Good luck! I tried real estate and the second house I lost $100k, which was 50% of my money. I was depressed too, but I wasn’t going to give up, just change my strategy. Then I found stocks, and I’ve made 200k this year alone. You’ll find what you’re good at and make that money back and then some! I wanted to kill myself too after I crashed my account, 60k, but we are worth more than that as humans. You’re a decade younger than I was also; so plenty of time to recover and move on. It’s just money bro. Im sorry you had to learn such an expensive lesson; i lost 10% today, it sucks. The good news is you are only 22. You can bounce back but its going to take a decent amount of time. Work on risk management and recognizing emotional tilt in the future Take a step back. You've learned some hard lessons, but being able to respect the market is a beautiful thing that you now have. Take some time to yourself away from the charts. Wait for this bear cycle to start, and even let it develop for a few months. You'll know when/if you're ready to come back. Always remember, time in the market is more important than timing the market. Don't over risk yourself when you come back, and live to trade another day. If you want to stick with this, it will be the greatest reward you can imagine, so don't forget why you started. Best of luck to you! 35K is a big hit but you are only 22. You’ll make that back in no time in your lifetime don’t worry soo much. I’m almost double you age and am down 100K. I don’t have as much timeframe as you do to get it back but at the end of the day it’s just money. Realize that there is nothing you can do that will change your past mistakes. Really internalize the fact that everything in life is temporary. The losses you incurred and your feelings associated are temporary. Regret is pointless unless you learn from your mistakes so don’t beat yourself up too hard and try to learn from it. Also, you are 22. This is the perfect time to fuck up like this. I missed out on +100k gains at 23 in the crypto cycle before and it ate away at me for too long without learning from it. Don’t make the same mistake as I did and move on from it sooner rather than later. That sucks, no two ways about it. The good news is that you are young. Having 37k to invest at 22yo is amazing in and of itself. If you managed to make that happen then I am sure you will learn lessons from this time and apply them moving forward. I know that ""it's just money"" is a bullshit thing to say, but there are bigger things. If you were 50 it would be a different story, but at 22 you can turn this ship around real fast. The good news is you're young and you'll recover. If you did this at a later stage in your life, you'd not only be broke but also getting a divorce! You're one of the few 22yos that know what it's like to have made 52k. You can do it again. I’m in the exact same boat. Every day I try to find something that will pull me back up and it winds up making it worse. People post here gains daily yet I cannot make one dollar - literally $1. I have no advice other than to say you’re not the only one, you’re young, and things will all shake out fine. Just trust that because it’s true. Obviously this feels awful, but this is probably the best time in your life to get this lesson. You’re young and have plenty of time to rebuild and recoup these losses! You got a hard lesson out of the way and now the rest of your trading will be better off for it. Sending love 💕 Everything is always temporary Get back to the books and study hard Find a process that works for you Find an edge and exploit it until it fails So stop crying How does a 22 (or 21) year old get $37K in the first place? [deleted] I'm 26 and I'm starting now with 10k (€), at 22 I was a poor student and no more.. I wish I had 2k :) you've still got quite some cash, even if it certainly hurts.. you'll come back stronger 💪🏻 I support you and I have faith in your success in the long run You need those big hit if you want to continue as a trader. Lost more 100K in the last 2 months. I know im a good trader but i got hit and my risk management was clearly not efficient in that kind of market. Stay safe. At least you dont owe that money to the bank hold Onto your stocks as long as you don’t sell them and they’re in your portfolio they can appreciate with time this dip is just a small blip on the greater ride that is wealth... Hang in there and leave your profile alone for a while and don’t look at it -so depressing Take some time off, and start small. Risking only $10 per trade until you can do that consistently for at least 1-3 months, then scale up in risk. I'm doing this and my account is around 2.5k right now. Consistency first, size comes much much later. You got suckered in with the get rich mentality, you're young, impatient and you started out with way too much money. Everyone pays their tuition to the market, that's why you should start small because you'll lose a big chunk of it anyway. On the plus side, if you can muster up 37k at 22 yo there's no man overboard. Just trade with low risk for a few months and in the meantime save up money to boost the account further down the road. 22 with 37k to burn in stocks? Not in school? Say that 35k lost was for your ""education"" and learn your lessons from losing it all I'd say. Try and see what worked at the start and try that. But you said it was emotions that seemed to cost you, so until you get a plan and can put them into check it's going to be a rough ride. >I just want your advice how to get through this mentally. Alcohol, cocaine, and sex with random strangers you meet at bars...maybe spend a few months fucking a crazy chick. Hey there. I've done the exact same thing as you. $50k down to 0 actually. In fact it happened to me not that long ago. I'm 27 and not made of money. The first few days were tough. I think I was running a low-grade fever for 3-4 days after. No appetite. Constant heart pumping when I thought about what happened. Trying to hide my emotions from the people in my life. It took me a while to get rid of that pit of anxiety in my stomach. Don't be afraid to cry and release it all. Don't hold that shit in. First things first you need to take care of your physical health. Try your best to get good sleeps, drink enough water and don't starve yourself. Don't let one financial event cause harm in other areas of your life. Eventually you need to come to terms with what happened and try to get your confidence back. You turned $37k into $52k in a matter of months. Not everyone can do that. Usually when you attain a certain level of money once, it becomes easier to attain it again. You just have to figure out a plan and put in the work. It also helped me to listen to succesful people who made millions, lost it all, dusted themselves off, regrouped, and then proceeded to make themselves a true fortune. They didn't give up and neither should you. Jim Rohn has a great story on Youtube about this and James Altucher has an epic reddit post responding to someone who was in a similar situation to yourself. I wish you good luck on your recovery and I look forward to your future post about how you rose from the ashes back to new highs. I'm also going to copy paste a post I made to someone else before. It rings very true: ## Are you in at a low point in your life? To whoever needs to hear this >Whatever it is. > >Whatever it is that put you in a rut. > >It could be financial devastation. It could be the loss of a loved one. It could be an excruciating breakup. > >Just remember, it could be worse. > >You could be homeless. You could have a debilitating disability. You could have a terminal illness. > >You could be dead. > >But you're not. You're still alive. You're still relatively healthy. > >So where do you go when you're at your low point? Most people would say ""the only way to go is up!"". That's simply not true. It can always get worse. Read above. > >You need to come to terms with what happened. Mourn it. Accept it. Put it into perspective. > >And then figure out your next move. Will you roll around in your own sorrow for the rest of your life? Will you whither away into nothing? > >Or will you use that event as a catalyst for the next chapter of your life? A springboard to move up and get to where you've always wanted to be. > >Your back is now against the wall. Just like your favorite heroic story. Or your favorite stock or crypto. It always has to drop first before it bounces to greener pastures. Where in the FUCK did you get 37K at 22 godddamit I swear to god I’m gonna die poor fuc fuck fuck duck FUCK That seems like a massive amount of money you've lost, and NGL it's a decent amount. !!!!! HOWEVER !!!!! You are YOUNG! Some lessons are more expensive than others. This was a tough one. You'll climb back. At 22 you get a nice job and you'll build your savings in a hurry. It's really no sweat. Take every mistake as an opportunity to learn, and then MOVE ON! You only steal from your future by obsessing over a mistake and getting into a ""what if"" mentality. Play the game of life from the position you currently are at, not some hypothetical scenario that doesn't exist anymore. GL! When I was 22 I was working at a holiday camp on 5£ an hour and had fuck all in the bank, 2k is 2k pal invest it in cocaine that market never fails Went from 10k in December to 330k to 20k to 250k to 15k, all in about 3 months. I’m 22 and this post hit extremely close to home, also struggling with anger and depression due to. Very much appreciate reading over all the advise in the comments. Keep your head up man Honestly you sound like you have a gambling problem. I would address that before going into any other risky endeavors. Study risk management over and over and over. Building wealth takes time. With a 50k account you should be aiming to make 100-200 each day Chin up, make small trades and slowing climb back up, try to aim for $100 or so a day in gains, not much but will add up over time 😎👍🏼 You might want to seek out resources for gambling addiction. Oh man, hopefully the losses weren't in vain, and you learned a lot through that experience because you are super young and have 3-4x more life to grow. This could be that turning point where you sharpen your investing strategies and develop your risk management skills better. I don't know exactly what kind of investor/trader you are but one thing Andrew Aziz said that really hit home for me was something like,""Your broker's job is to place orders, your job is to manage risk"". Stuff like "" never risk more then 2%"" of your capital on a trade. EG. I have 5,000 and want to risk 2% , and the price of the stock is $5.00. I will purchase (5,000 x 0.02= $100 / (5 x 0.02 = 0.1)) = 1,000 shares purchased with a stop of 10 cents below entry. You’re still very young and have plenty of time to learn from this and earn back the losses. If you were 50 and lost all your retirements savings it would be a different story ;) Maybe take 30 days off. Write down a plan and stick to it. Lesson Learned: Keep your trades at 1-2% of your total account value. I had calls on AAL, INTC, and AMAT that I put in yesterday at about their midpoint and was feeling good up until around 1:07pm today. Took a 20% loss on all of them. But since this was only 3% of my account, I only lost around 0.005% of my total account. I'm annoyed, but certainly not on tilt over it and can easily recover. Its not how hard you fall, but how high you bounce back. Sounds cheesy, but you're still young and have plenty of opportunity to make that money back up and then some. If anything, you learned a hard (and expensive) lesson which will help you in the future. Hey man 24yo here. Took an 11k account up to $29k this year then back down to $16k. Shit hurt real bad. The good news is, we’re still young and have learned a lot of lessons. The biggest takeaway I’ve had is to come up with a way to better manage risk. I’ve started getting better at knowing when I want to trade because of emotions. This is a super tricky market to be in for what it’s worth. In the grand scheme of your life though you’ve made way more than most 22 year olds and learned this lesson early on to make the most of it. Don’t give up, I can’t lessen the way you feel, but blaming yourself and reliving the loss over and over will only hurt you in the long run. Take some deep breaths, step away if you have to and in the future you’ll be back stronger than ever. Cheers friend! Work hard and start over. There’s no getting it back, just getting back up! You lost earned it once, you’ll earn it again. YOU STILL HAVE SOME LEFT, hold onto it, work hard to build it back up. Take a break. Do a puzzle , read a book.... TALK TO SOMEBODY , preferably a professional. NO AMOUNT OF MONEY LOST is worth your life . Money is replaceable ...you are not! YOU with only a penny in your pocket ARE enough!!! I’m sorry you’re going through this. As a former gambling addict, who almost lost everything .... THERE IS LIGHT at the end of the hole.... best thing you can do is STOP DIGGING! you ARE enough ... money or no money, you will rebound and be stronger because of the LESSONS LEARNED. ((Hugs)) im 32 and ive lost about 15k day trading, im learning and probably wont be profitable for a long time. Keep your head up mate, money comes and goes. Dont stress about losing money please. Pick yourself up, dust yourself off and think positive, you have lost money but you will get that money back. Please do not beat yourself up about it. Life is full of opportunities ​ God bless All the best You are only 22 years old... you have whole life ahead of you...This is just a lesson in the life.. learn it and move on .. u still have 2.6k rt? learn from this and get back on your feet and trade/invest right. Look carefully, those are two different things: investing and trading are NOT the same thing. Only trade/invest in companies you 100% believe in and are in good financial standing so that if ur trades go sideways, you only need to hold. it'll hurt to see red but if you hold, you WILL recover. take this note for next time :) ​ edit: oh also, I recommend putting the rest of your 2.6k in cyio and holding for 1 yr. Actually..! You should be grateful for a life lesson learned young and out of the way! You are so way ahead of 98% of other people. From this 1 small failure you have essentially diverted many others in your future. Speaking as someone who has daughters just older then you, “it’s okay”! You’re young and supposed to make mistakes. How else will you learn? If you don’t take chances you’ll never get anywhere other then where you already are.... Take chances! Make mistakes, but learn from them! That’s what life is all about! ***Make a list of what you did wrong and why, and think about each one. Take that last 2,000 buy a long term stock and delete your app. Go back and look at it next year. Chin up, take a break, save up some more cash, keep staring at charts each and every day you can, then get back in the game. But key is to walk away right now... you're in no state to try to make any of it back. I'll share a spark note of my 13 year journey in hopes that it will give you some peace. While trying to finish my last year of college at the age of 22, I lost $18k, started to hold a balance on my credit cards so I could fund my trading account. Got to the point where I couldn't pay for tuition and had to ask my brother for help. Grades were horrible one quarter and got dismissed the next quarter. Had to get good grades in the summer in order to be let back in to continue my degree. That was shit time... I was depressed as hell. My asperations of being a day trader had put my degree at risk and I was in debt. Was fortunate enough to get the financial help I needed from family and completed my degree. Took a long break from trading. Didn't touch stocks for 4 more years, saved up a good amount and decided to try for paid courses. Spent 6k+ on different FURUs and went to trader conferences. I kept trying to trade small accounts... I can't even remember how many 5k accounts I blew up. Took money out of my IRA and 401k, loss both. Started to pay only the minimums on my credit cards again, and was basically living pay check to pay check. Racked up 200k in losses over a few years. Decided to take another long 3 year break away from trading to save up and clear my head. I had lost all the money I earned since graduating. You can imagine how psychologically weak I was at this point. But what I did during those breaks was to always check in on the market and watch the price action of stocks every day. Something clicked in 2019... but I made back all my losses in 4 months, 2020 was the best year I've ever had, and 2021 has already surpassed that. I'm currently looking at a six figure week. Not flexing, just saying this ridiculous dream is achievable even after entering the depths of hell psychologically. As many others have said, consider this your market tuition. Experience doesn't come for free. Yes, in this profession, you can do your best to control how much that tuition will be, but you can only do so with discipline and the right state of mind. So again my advice is, take a long break from trading, the market will always be there. There will always be opportunities. If you're serious about this, continue to stare at charts, L2, watch price action, DO NOT TRADE. Come back once you've got some good savings and get in slowly. It's possible. Feel free to PM if you'd like to chat. Good luck! Just yolo the rest on a penny stock and maybe you’ll get Lucky. Life moves on buddy and so will you. Stay strong It this helps you in any way let me know. Last year my TD net liquidity was around 135k. I entered an option position on BA, VXRT, MRNA and all went south with BA being the biggest loss. In July of 2020 my account was down $3200.00. I took couple of weeks off from trading just went cold Turkey. Two or three weeks later I started smaller positions with sound TA bought long calls on NVAX, GTRS and OKTA. Jan 2021 my account balance shot up to 80K. In Feb again I made some bad calls by getting CCIV, CLOV and right now I am back around 50K point is never get depress and don’t try to hit home runs. Take one day at a time keep a very tight risk reward. Do paper trades first start using technical analysis and use charts. Nothing is impossible as long as you don’t make the same mistakes. Let me know if I can be of any help. Best things I learned about trading were in a course called Trend Trading to Win. This was nearly 20 years ago. 1) Nobody ever went broke taking profits. 2) Don’t try to hit a home run. Just get on base. Guy with the best on base average ever hit a home run one day. In the post game interview he was asked what he did different. “I made a mistake” was his reply. 3) Plan your trade and then trade your plan. My advice in this case would be to take a break. You’re “on tilt” as they say in the poker world. You took a hit and your risk profile went in the toilet trying to make up for it. You need to step back, honestly assess your mistakes and physically write them down. Post this piece of paper above your monitor (old school I know) where you trade and let it guide you to the good decisions you made while you were going up. If losing 35 grand teaches you how to never do that again, and you’re not heavily in debt as a result, it’s a relatively inexpensive lesson. A minimum wage job brings that amount in, in a year. A well paying job (for most people) can make that in 4 months. You’re young, savvy, (and not inexperienced anymore) and can get back on the horse after you have your break. Good luck to you! I know everyone has already said this, but you are young and you'll be able to make this back in no time. Almost everyone who trades has been in this position before. I took my 20k account up to 41k then down to 3.5k by playing with options. After stopping for a while and realizing options weren't for me, and I should stick with stocks life got better. But I had to stop and re-examine what didn't work for me. Just walk away from the trading for a minute to clear your head. But that doesn't mean you're done trading. Stop trading 22 with 37k? lol. did you save it or was it handed to you? You’re 22. You made really dumb decisions. Sounds like you’re exactly where you should be. Take it on the chin, learn some lessons, pick yourself back up and at least build some resilience out of this.. If losing 25k is the worst thing that ever happens to you, you’re gonna have a good life. Ok first sentence of first comment, he says you made really dumb decisions. Wow! Such insight. The truth is, you didn't make decisions at all. Run do not walk to youtube and find Rande Howell. Good luck, and do not jump of any bridges. You have plenty of good things ahead of you. I know it doesn't feel like it, but I've got 30 years on you Son. Keep breathing. I was in your shoes once a long time ago, so I am not bullshitting when I say, I know how you feel. Listen to Uncle Rande. Not affiliated in any way, but he is the guy you need to hear. It's gonna work out. May I ask how you had 37k available to trade at age 22? - Coming from a broke 30 year old. [deleted] The fact you’re only 22 and had $37k to play with in the first place tells me you’re in a damn good position, much better than your average pier. You’re so young bro now is the time to take risks and learn as you have plenty of time to recover. By the time you’re my age (mid 30s) I promise you’ll look back at this and laugh. Hard to see that while you’re in the middle of it but don’t beat yourself up so much. Mistakes are ok as long as you learn from them :) Close your eyes and think about someone you consider to be successful. What name pops up? Bezos? Musk? Whomever. I guarantee that they lost more money that you did while they were learning. You need to view mistakes as tuition - the price paid to learn. You know what you did, you paid your tuition. Even that feeling of no confidence is a lesson. Your next class is dealing with that confidence issue. You never stop learning. All you can do is try to lower the tuition you pay for the lessons. Put the rest in crypto and HODL....after losing a similar amount in this market I am done with stocks. Crypto has been my only saving grace through all of this. It's gambling. That's all day trading is. Sorry for your loss Buy some AMC with what you have left and HODL! You will recoup your losses, but hurry the Rocket ship is ready to leave. This is why I only buy shares. 36k is plenty to trade big or medium caps (shares) practically risk free. Biden is trying to raise capital gain tax in the mean time. Possibly to drag stock trading down more. #1 Stop trading for the time being (I’m currently doing the same thing cause I was headed toward the same level of destruction for the second time) #2 take time to reflect and write down on all the mistakes you remember making, why you made them, how you went about it and how you can avoid it in the future (this includes taking notes of your emotional states) #3 Create a system that will help you avoid those mistake rather than relying on your sheer willpower. My philosophy is that I start from understanding that I am an irrational being bound to do irrational stuff in the market, thus creating a system that controls my irrationality so that even if I mess up, it won’t cause that much disaster. I don’t trust myself to behave so I put myself on a leash #4 go on WallStreetBets and brown through loss porns and memes on loss porns, trust me this will make you feel a little better as you’d see you aren’t alone but also will make you laugh. Sometimes you just need to laugh at your pain, people outside the world won’t understand this but the retards on WSB will. In fact, post your lost porn if you can, just to feel like you’ve gotten it out there and stop the guilt and shame #5 it may not feel like it but one day you will laugh and even brag about this. It will be a badge of achievement and reminder of how far you’ve been so take it easy, mourn if you have to but get back up and go back to battle I would go buy amc with what's left, and join r/amcstock r/superstonks...people can hate on the ""meme stock"", but its actually not just a meme stock.. there is a lot going on there if you read all the DD. You would get it back soon. Go get some coke and hookers with the 2.6k that will cheer u up Not financial advice but buy some rocket ship tickets over at GME .. they go on sale at noontime Unless you have an education in finance / economics, stay out of the market. Buy index or mutual fund if you invest directly. Or let a pro manage your money. I’m taking Al Brooks trading course. It’s like 100 hours of video. He is not a scam he is the real deal. It’s boring as fuck but I am learning EVERYTHING and I am becoming a better trader every day. You can slowly rebuild, you can, but you need to just be super careful this time and take it baby steps at a time. In the video I watched tonight he said only risk the amount of money you wouldn’t think twice about losing. Maybe that’s $50 a day. For me it’s around $100 a day seems so low but I am building my account consistently and every day pretty much I am in the green. You can learn from this. You can come back from this but you just have to be super careful and manage your risk very seriously. Tiny little baby steps with good daily trades that have high probabilities. See this as a super super important learning lesson and wake up call. All will be well. You can come back from this. Seriously though. Al Brooks trading course. Learning the in and outs of price action. It’s amazing. I was once up to $1500 then burned $500 from a principle of $1000 and went a drunken depression; came back to the market a few months later; dropped 2k earned 3k slowly scalping for. 2 months. Lost 1k in one move after not losing any trades for a months; I thought I was invincible so I kept holding. Anyways cut my loss at $1000 leaving me break even. This time around though; I had no remorse, no anger, no fear. I just laughed and revenged traded to loss another $100; then by chance my random doge coin bet from February paid off and I earned $1000 from it :) and now I’m back to where I was a week ago with 3k total value. I mean hey, I could have had 4K but I’ve learned so much lessons on the way that I’m not even mad, I’m comfortable by the way, I have 0 checkings 0savings and maxed credit cards; I litteraly trade with everything on the line.. my car needs a new transmission but if we keep trying we can get to the top!! Next I want to invest in a SEries 7 I'm sure you learned something from this, that's what's important. I'd say buy GME with your remaining money, let it sit and focus on your mental health with meditation and exercise. Should have put it all in GME and left it alone lmao Grab a couple shares of GameStop and you’ll be good lol of course this is not financial advice. Never let your emotions get involved that's for women. If you can’t turn that 2k into 50k by years end... than you don’t need to be trading. Went from 1500 initial and sole investment to 16k in 5 months. What did you have put money into? Options? Things can definitely be difficult but the stock market is very cyclical, if you have stocks they may come back around Looks like you didnt do it through options, what tickers were you trading to lose this much? 22 is young!! You can overcome this! It's happens buddy. Seriously, take time away from trading. Like genuinely take a month or two where you are just reading and learning, then start paper trading and back testing a system, then get back in with your remaining bank. Take this as a learning opportunity. You only fail if you go to zero, or you quit. Can’t really give you trading advice, but I can tell you one thing: keep your head up, maybe stay away from trading for one or two weeks to clear your head and start it again with a fresh mindset. Even if it sounds stupid, it’s just money. Life is much more than just money. Take a break, if you can. It ain't over till you're balls deep in margin my friend, don't give up. share it on Reddit man, upvotes will give you instant money Maybe you should start slow, with smaller amounts of money. 50k for a 20yo is pretty much money. As many have said, you’re young and have plenty of time to comeback. Just learn from this and try to improve. Maybe read some psyco-trading books, it helped out for me. Do not be disappointed. They are fucking with all the stocks. You can't count on your graphs right now. When the market corrects itself. Not sure how long that will take, things will get better. Your only losing because you are playing their game. Give yourself a break, sit back, breath and realize they are the problem right now, not you. We are all with you, or soon will be, with the announcement of possible 43% capitals gains tax....... Wow I was 22 once and at that time I had about 20$ in my account so. I lost 35k during the 2017 crypto craze. Was most of my money at the time. Still here and came back stronger than ever You are not the money. I know it’s f shittt to lose. But money comes and goes. In these words is more truth than they can even describe. YOU ARE NOT THE MONEY! Keep that in mind. Life has more to give than this shit. If you keep on working on your mindset, it will easily come again. this is a bad day man. get away from screens now, just go away, do other stuff, call your friends and familiy, cause looking at the screens wont bring anything back when you feeling better, calmer, more at peace, come back for homework and try to figure out if you can grow from this. As I am at the beginning / learning how to trade and wish to do trading for my living: How did you trade, what was your strategy? Sadly you started in a false market and then saw your first correction. The experience you've received from this week be worth more than you lost as long as you learn from your mistakes. Toni Turner has a good book on Day Trading. Just take some time away from your monitor and read her book. It sounds like you already know where some of your problem areas came from. You need to give yourself a break. You are only 22 and you have years of trading ahead of you. Take a workshop to refresh and then try trading something different like options. You’re going to be ok. Just stop where you’re at and re- assess where you want to take things. Someday when you’re getting your grandkids set up with their Trading accounts you can tell them about the lessons you learned at age 22🌻 Taking large losses is hard and investing in risky investments always have a chance for large losses. Take everything one day at a time maybe stop trading for a while - go outside and be around friends and family. I know it's a tough loss but you are still young and you will rebuild. after some time off look over your portfolio and try to find where you went wrong. ​ Good luck and don't worry you will rebuild! Sorry for your loss - that sucks, it really does. Sometimes we take it as a blow to our EGO - I sold a business a couple years ago and lost about $100k that was owed to me from the sale. That hurt, and it takes a while to be ok with it and move on. Try growing some ouid, I started it for fun a few months back when I was down bad. Now it literally pays for its self in weight. Just a thought 💭 and if you’re not a smoker it’s pure profits. Keep your head up brotha. This to shall pass 🍃 So you need help with dealing with the depression or making the money back? Because I understand the missing money is what is making you depressed. As long as you own the stocks they may be down in value but some of them should eventually go back up, I hate to say it may take months to over a year. My situation is like this: I have a portfolio that is seriously messed up with stocks in the 50% loss and some 70% which I regret getting into. But I have some money to survive the rest of the year for my bills. And I have a small amount of cash with margin to trade when I am ready to, right now things seem to be picking up but not really what I'm looking for. I am able to trade with that small amount and make small amounts to continue to pay bills. So what I'm saying is that you need to wait a while until you have a portion of that money back to trade with while you build back up. By the way, in a crash that happened in 2016 I sold everything at a loss and should have held everything because one year later I would have doubled my money. Try to be hopeful. You don't have that recognized loss unless you push the button and sell it off completely. Try to wait it out. You will have to trade with more strategy and be more conservative while you are bag holding some stuff. Later you can get into investing long and trading short on the side. Diverse portfolio in my opinion is a terrible thing because everything goes down together in situations like this. Diversification in my world is being able to deal with these issues, while still being able to wait things out, and having money to trade with. Then building back up and selling off those mistakes. Take time to analyze your old trades and stop trading crappy stuff. Don't get manipulated by Youtbers. Learn to spot the real opportunities. Also to end this story all that money I lost in 2016 which was six figures I finally was able to break even this past year 2020. Huge accomplishment. This will be the first year I'm in the green. Obviously the money I made back I used to live off but that is a huge accomplishment. I made it back with some long positions in Microsoft and basically made most of that back in the past 18 months of real focused day trading. As for the depression part you need to disconnect your emotions from this situation the way someday you will master and disconnect them from your trades. Don't get attached to tickers. They are just symbols. If you get emotional and get attached to specific stocks because you want to brag about them you need to stop trading until you get your emotions under control and focus on the real goal which is to make money. And I'm not responding to rub it in. I think you started trading and this happens to everyone when they get sucked in. That's why you have to watch out for the worst scenario because if other entities are manipulating the market you need to be careful you just focus on recognizing your profits not maneuvering around their chaos. So what kind of trading were you doing? E.g. Are you a support and resistance trader, a breakout trader, a dip buyer...? Helps to know. If you're trading breakouts I'd say... maybe just don't 😂. Fuck bro that’s rough, maybe take some time to just chill out and get your mind right. Hope for a market crash and if there is, invest in the blue chip stocks that will rebound nicely and you may be able to double, triple or more your investment. Read trade mindfully by Gary Dayton. Really helps with the mind game. Education is vital and expensive. There are no shortcuts. Good luck on your journey, and never ever give up!! You WILL figure this out, it may not seem like it at this point, but you will. People have talked a lot about a risk management strategy, and I'd like to offer that you can expand that beyond day trading, and manage risk by diversifying that portfolio into something less volatile (albeit, less exciting). I know there's no adrenaline rush and it's boring AF, but have you considered taking a percentage of your investment and putting in towards ETFs or index funds? It may be worth opening a separate ""safety"" brokerage account that you never ever touch, and transferring some of your funds into it. I did this myself and every time I log in I can breathe a sigh of relief, even when the rest of my account is down 5-10% on the day. I understand this is a day trading subreddit and it might not be popular here, but short- and long-term strategies don't need to be mutually exclusive. Best of luck friend, you got this! I’m sorry that happened to you. It sucks. But on the bright side, you’re 22. You have a ton of time to recover from this. I know a bunch of people who were 22 and blew that much money on a stupid ass car or sports gambling. Cars depreciate. You took 37,000 and turned it into 2.6. You’ll have plenty of time to make up $35,000. You’ve learned a painful but valuable lesson, there is a big difference between gambling which is what you were doing, and investing which is sitting down and doing the hard work of determining value and not meme hype. By the time you hear of a stock opportunity, it’s already too late. Everybody here eventually learns that. You either have to be early in it or you have to sit down, understand how to measure the true value of the stock. Even stocks like Tesla an apple and Boeing are way overvalued. Get the right time and you might benefit from a rip. The next day it may dip. Just this week I bought a stock and rock 62% growth two days in a row, and on the third day because I didn’t have a plan I went 20% in the hole. Never make a stock by without having a plan. Immediately set a stop loss. That’s some thing I learned Long ago but obviously didn’t follow it always. I’ve had some wins, a lot of sideways trades and a few losses and the losses hurt me a lot worse than the moons feel good, at least to me. In a nutshell, you lost some money. It happens to people all the time whether it be stocks or roulette or craps or poker Or buying a dumb ass car. Many people do it in their later years and they’re screwed because they don’t have their whole life of them to earn back. You’re 22 and you have a shit ton of time to make up money. Learn from your mistakes, learn how to value stocks, certainly learn how to sell options. Selling a covered call can really make a dent in a bad investment loss. Keep your head up and good luck. 22 with 37k. Nice Did u sell or are u trading options ? At least your young, and relatively speaking you didn’t lose much compared to how much you will make in the long run. It does suck, but theres nothing you can do, and time will make it better! Hang in there bud. It’s is a kick in the gut, what I’ve done when I paid my market tuition was stopped trading for 90 days and kept watching and went on with everything else as usual, got back in the game back made my money back in a couple months. With the market trading sideways right now is a good time to take a break The only real advice you should listen to right now is to stop. Take 3-6 months off trading all together other than buying index funds. In 6 months work towards picking stocks again. In a year come back to day trading. Get your head straight before you do. I am all for yolo, high risk and day trading. I do it. I am down quite a few thousand on PLTR because I bought 1.5k shares and lots of spreads and calls when it was over $25. But you need to stop trying to day trade. Take what you have, put it in an index fund and chill for a while. Take 3-6 months off from the market. Mentally you aren't ready to handle day trading. Sounds like you didnt cut losers early and kept on chasing trades hoping something would work. So take a step back. In 6 months come back and start picking stocks again for short term trades but not day trades. Recover and build up some capital, keep a safe investment, and then in a year come back to day trading. The time off and short term picks will focus you more and let you narrow down a strategy to stick to while giving you a while to keep learning. You need to trade both sides of the market, long and short to really be successful. A market pullback should not be the reason a day trader is losing money, as they should be shorting on the way down. Maybe day trading just isn't for you, and that's just fine. There is a reason so many people fail at it. The $SPY is up nearly 10% the past month from March low, the returns from the general market are pretty attractive right now. You could be 32,42,52,62,72,82. It’s early in the game. But you must know 80% of day traders will lose money. This is a brutal game where winners attempt to take all. I suggest you switch your style of investing if you want peace of mind and never want to feel like this again. Go listen to some Peter Lynch and talk some sense back into yourself. Also, good luck and stay disciplined. Sorry man. I'm 24 and started trading around the same time this year. Honestly this could be me right now had I not cut my losses on some bad plays. Losing sucks, but we're so young that our best investment we can make right now is in our future earning potential. Work hard at whatever you do, stay healthy, and keep at it. When you get that money back, which you will, only play with what you're willing to lose. Go back and figure out what you did wrong. Write it down. Track each and every trade and learn what you did right and what you did wrong. Fuck, post it on here. People will give you feedback. Last years bull market was easy, this market is not. And for fucks sake do NOT park your money in GME (I hope that person was joking). You need to start saving to build your account back up. Take the time you’re going to have to spend saving to study. Watch more traders learn more styles and find one you want to hone in on. Also, don’t hide your pain. That shit just makes it worse. Share whats going on w the people closest to you, 95% of them will tell you to stop trading. Maybe you should, but thats your decision. If you want to do this long term your going to get busted in the chops. Just like boxing you learn by taking one on the chin. Its up to you if you wanna get back in the ring and its a serious question you need to ask yourself. Like others said, you have time on your side. You have no idea how important that is. If you haven’t already learn about tax sheltered compounding interest and do the math. Your so far ahead of the curve its not even funny. Good luck. Hey man, I'm sorry to hear this. That really sucks. I have been there....MORE THAN A FEW TIMES. I never learn. I know that feeling, that depression all to well. Nothing really helps but time. Its like a bad breakup, only time heals. YOU WILL GET BACK TO NORMAL, emotionally. Accept this for what it is and try to look forward. Best of luck my man. Sorry buddy! Take a break away from the screen! I was up huge today and it got cut in half! It’s always good to take profit. We will have our days. Stay focused and stay in the game. I would put it all in GME and wait for the squeeze, in the meantime do something else with your life. This isnt financial advice I too have had some expensive lessons. It's almost a right of passage. Put those 2.7k in amc! Take a break and leave it there! Those 2.7k will hive you over $200k Trust me. That’s what I did.. I was so depressed and was losing... I decided to throw everything in AmC and now waiting for it to moon but using Thai tone to go back and check out what I did wrong and also learn more. Try the casino if you want to gamble. That big of a loss in this short amount of time is insane. I’d recommend paper trading and backtesting an objective strategy before putting any money back in the market. sometimes important lessons are expensive. I feel for you bro. I had about 60k and now I’m down to 9k. Not selling my shares tho. GME to the moon. Hedge funds r fuk. You are 22 and healthy. Money can't buy that. Your 22. You have lots of time. I let a good chunk of capital sit in a savings account doing nothing for 15 years because I thought the stock market was too crazy and risky. Once I had experience in my mid 30's the fear went away and I deeply regretted all the time and possible gains I could have made over those years. I completely missed FANG and other obvious big gainers that would have given me crazy returns if I was sitting in them over the decade. Your lifetime gains because you are now aware of the markets and their potential to increase your wealth at such a young age will far outstrip the money you lost. So just save a bit from each paycheck and keep building your account. Should’ve not day traded as a beginner. Remember the 90/90/90 rule. 90% of day traders lose 90% of their capital in the first 90 days Show graph mate, I can't get off just with text alone 37k? You could've invested in real estate buddy, atleast then you'd actually have control over your *assets.* This can happen to people who just jump in and get the near term positive results, you lose sight of the big picture - results today are not indicative of results tomorrow. Experience helps you navigate this and learn when to adjust to the ever changing dynamics of the market. DayTrading is *not easy*, it's like any other career. You have to put in the time to educate and hone your skill. That big of a loss will be painful, it may even feel like the end of the world. But it isn't, if you truly want to do this you take it as an expensive lesson in your education and get back up. If I were you, I'd pull back from live trading and switch to a paper trading account until you hone your risk management skills. Find a trading community / chatroom to learn from. There's quite a lot, make sure to pick the right one (one that focuses on educating). Me sitting in the fire of my SPY calls. Just burned my last week of green like Cheech and Chong last Tuesday. It's alright man. You'll be back. Success is built on a foundation of failure. Dont let the failure get to you. It only wins if you don't take away knowledge. Chin up young buck! You got plenty of time to recover! You did it the right way. I was expensive, but it was a nice lesson. Next time when you make that 50k you will have experience and won’t do it again. I’ve been there too, everyone has. Do be sad, be happy men. The market is in Mega Expert Mode right now. Don't t give up, my friend... I think you share your loss porn story with millions of Trading beginners ...myself included . . ..just try to keep balance and try to learn .... I did so too... Well, maybe noone of us will be a perfect trader, but possibly WE get successfull Traders...... Heads Up!! To the moon!!!!🚀🚀🚀 Don’t day trade, it’s gambling! Better buy and hold shares Jumping in, 29. Exact same thing has happened over the past 2 months for me as well. A lot of good advice here, my advice is that you take a break from trading now. Take a break until that feeling of revenge trading is gone. Then start over with small amounts because I am sure you have learned a lot, you are most likely a good trader, the market has been brutal this spring. Everybody is hurting. You lost money with many others, focus on your well being. Smell the flowers sort of speak. You will feel when you are ready to trade once more, you are awesome. It's ok to fail. Hopefully, even though you've fallen, you fell on your back. If so, then you are still looking up where you want to be. You are the one that decides if that is or isnt the case. Its ok to be upset and its ok to feel discouraged. Feeling those things means you still want to get where you were headed. Take time away. Taking a break isn't giving up. Its doing what you need to do to take care of yourself. That is the most important. Life is always going to hit you hard and where it hurts most. Who you are is defined by the way you can take those hits and keep going forward. Remember the losses and let them inspire you to learn. Remember that you were already able to win so that you know it is possible. Even if it is devastating now it can be something you look back on when you made it. Get up when you're ready and try again. Best wishes So you started in a market that was mostly only going up and now that it has stopped you are depressed? Wait until you get a couple crashes under your belt. I am 51 years old and have lost everything that I own twice ( houses, cars, money, clothes, I mean everything!!!) It seems tough right now and it is depressing but I promise you..... you will survive this and still be able to have a good life!! The material things are just that. Learn from your mistakes and vow to never do them again and slowly start back down the path of life with a few bruises but a better education on life!!! You got this. Don’t ever give up and keep your head up!!! You aren’t the only one who has ever done this. Look at me.... I am so hardheaded that it took me 2 times to figure it out....lol Hey, you still got 2.6k in your pocket! Listen, I don't mean to make you feel bad, not at all! That is the good news! Coming here and letting out some emotions and asking for support is the right step towards a healthy mind to restart. I know you worked your butt off to save that 37k. At 22, you did that. This was a very expensive lesson to learn and yes ""It's only money!"". You have your health at this point I assume but you need a pick me up - mentally! You need support - please talk to your family and friends and start fresh. You've got no choice but to start over! Find a job or get an extra job, put aside as much as you can and start saving and INVESTING and not YOLO it all away! You're young and you need to separate a long term investing account and a short term trading account and the latter should be like 5-25% max based on your risk tolerance. Having these separated should keep you from losing it all. Good luck! Don't shit on yourself... most traders have some similar experience. I blew my 1st and half of my second accounts. Took me 2 years to see the market properly, have been in since 2008. I don't remember where I read this but it's on my wall above my screens: ""There is a huge difference form learning from you mistakes and berating yourself. One is positive and results in better results the other leads to buying stock in ROPE. Which is NOT the answer. Suggestion as it helped me a lot (I have no ties to and will not profit in any way if you but it) ISBN 978-0-471-26761-4 Lick your wounds and learn from the mistakes, keep your eye on the prize. Trading or not, everyone goes through bad experiences despite good intentions. Health, job, relationships and many other aspects of life have their ups and downs. The other day I was beating myself for not buying a house when we could all these years. We are not young anymore and home ownership looks really a dream that will not be fulfilled given the market. So in my case it’s a loss from not taking action. No way you can beat yourself up for how things turn out. Just be patient. Zoom out and look at what you still have a young age, your health and most likely a lot mor. You tried, failed and learned, that's called experience and you won't repeat this one. Just keep trying and find a more sustainable strategy or move on and find some other hobby. Do some psychedelics and get some new perspectives, what you lost is infinitely small in comparison to what you have. I've lived my whole life without getting a job or an income, I've led a fulfilling life without money and always tried to find ways to get by without money rather than earning them. Right now I'm looking into it because I have a goal that requires some and I want to invest because I find it an intriguing hobby. But in the end even if I lost it all it wouldn't be my life quality or reason to live I lost, it would just delay me to get to my goal that ultimately is optional. You good bro, it’s a learning experience. You’ll get it back and you’ll be more careful and cautious as you compound your account. This too shall pass big dog. This too shall pass. It is a horrible feeling to lose money - even worse when you're disgusted by your own behavior that led to the losses. While I never blew up my account I am very familiar with that feeling of total disgust for oneself after making emotional trading decisions and incurring losses. One day toward the beginning of my foray into trading I caught this monstrous short trade on Nasdaq futures - made $600 in a few minutes. I was so confident that I started scalping like a degen and gave back not only all the profits but also another $1000 in losses. I went from feeling like the smartest trader to the stupidest in the span of thirty minutes. I felt sick to my stomach for the rest of the day. In hindsight that experience was a blessing. Seeing how tied my emotions were to my outcomes was the first step I took in decoupling the two. ""The first step is to admit you have a problem."" If you want trading to be your career and no obstacle will deter you then I am sure you'll look back on this event in a few decades and be immensely thankful you learned this lesson with $50k instead of with $500k or more. If you go on to have a successful career in trading, these losses will look like small tuition costs compared to your career earnings. Now if this experience is too much to overcome you can forget about trading, get a 'normal' job, and invest in mutual funds or ETF's like the majority of Americans do. Work and save hard for forty years and you can retire a king. Whichever path you decide to walk, this experience was surely formative and I believe it is a tremendous opportunity for growth with many lessons to be learned. I know that it feels like the end of the world now, but I believe that some day you will look back on it with gratitude! Take time to be upset first and then move on with your life. I've been at rock bottom financially. You have to look at your situation as it is not how it could have been or was. It's time to pick your ass up off the ground and figure out what's next. You've got this. i totally understand man. the market took back most of my crypto gains today and i've lost probably 30% of my stock portfolio in the past two weeks. I had a strategy i was working on where i was day trading options on etfs that fell apart too. I was making money in the paper account and thought i had everything figured out until today, the underlying dropped like 5 points in under a minute and i couldn't get the stop loss filled. my strategy basically shattered and i realized this cant realistic work in the real world. Im totally fucked Seeing you guys lift one another up gives me hope. Let us all find our way to the millionaires club one day Follow buysellshort on Twitter and buy the swings he’s on. He’s right literally 95% of the time. Free money. He’s also got a discord that more thorough and specific with his picks. It’s all free btw I’m not trying scam your depressed ass. Enjoy. I have had a small setback recently. I'm back to base hits. I need to hold off on home runs for now! Hear you, my friend. The same happened to me and told to myself I was no trader, I was not nothing. It all started with a study mistake. I had done good but tried to learn more about options. Big mistake. No matter how much I tried to craft my entries and exist, it all felt like gamble. The same day I made a second terrible mistake, I tried to recover it all in 4 trades, they were all right, but they bounced too much, I got a bit of flash crash as well. Long story short, was left with 0,008 usd worth. Did not believe. Still in shock. That’s the way it goes. Sometimes the best play is cash. Difficulty in trading especially in day trading is that people think they are sensible but they really are not unless they train hard for it. Animal brain takes over and emotions rise. There is no hope for intelligent decision making in that state. If you want learn trading rewiring your brain is out most importance. It's unfortunate that you lost this much to learn that, but you are young and can make that money many times over. Don't trade for awhile - you are not in shape for that now imo. You just risk losing the rest. I used the hard hitting reality as motivation to set a better game plan, rules, and focused my trading strategy down to a very small pool of stocks. I journaled every move I made from my first daytrade and kept notes so it helped formulate patterns and rules. I will re-test rules every so often, but really what I did was dust off my pants and pulled the chair back up. Your profit goal percentages are still the same even if you’re only investing with $10 now instead of $XXX,xxx Bright side is you can still grow it back with 2.6k , it will just take longer if you use proper risk management. But you aren't out of the game. That is a HUGE plus. I struggle with self confidence, self esteem, ect. and while I am far too new to trading to offer real trading advice, in regards to your mental health I'll say this. You are more than your successes and failures. You are more than what you've done or haven't done. You blew up your account. That really sucks. At this point, you have two options, either will define how this story ends. Regardless of the path you choose, money should never become more important than our wellbeing. While the world still doesn't operate this way, it's important we keep ourselves centered on what matters, and allow the rest to fall into place. You can stop trading, write off the loss and act like it never happened. Lots of people do this. They try trading, lose big, get burned and never go back. For many, this is the best option. You can accept the financial loss as a very expensive learning experience, cut your share size down dramatically and go back to studying the fundamentals of trading until you consistently show profits with small share sizes, and then you start to scale back up, regardless of how long that takes. You don't give up and in some time, you look back on your account and see that you have recovered all of your losses using your new more informed trading strategy. Let me know if you want to talk more, I'm here. Take that 2500 and go theta gang from here on out. Start a weekly atm csp say on something like palantir, and lock up 60$ every week until you can do 2 csp and repeat. Won’t take away the pain but what you need more than anything right now is a win. From there the sky is the limit. Never deviate from wheeling and it could change your life and your mind. All begins here with a man and his 2500$. On the bright side, you still have 2.6k left. You can take that and apply proper risk management and strategy to, without letting your emotions get the better of you or trying to revenge trade, and get up again. Sorry for your loss, but even the fact you managed to save 37k at 22 is pretty damn good, I'm sure you'll bounce back even though it's a hard hit to take. Keep your head up young buck ! Is material ! You really need to focus on the future and what you actually learned in this journey. You have some much life in front of you. God bless bro Wow, almost exactly same here to the number! At least with amount invested. Started with a few speculative small trades (total account investment $1,500), did marginally well, so kept feeding it until my account was over $55,000 on $34,000 or so invested. Thought I was on a good momentum until the floor dropped out with the crash in February. Account was around $18,000 just a few days ago. Seems as if the deadlines the SEC put in place have started to turn things around; once the deadline hit yesterday, it’s been consistent gains across the board. Very small but sweeping across the portfolio. Even though our losses are different, there are a few things to consider. If you had any longs that have kicked the bucket but you still hold; keep holding. If your losses truly are locked in and complete, try to learn from it, but remember these losses are just a moment in time and a snapshot of your total wealth potential over your lifetime. Take the lessons and integrate them, and you’re still in less debt than a college education, but with typically higher earning potential. If you have the big stuff taken care of... happy family, good health, roof over the head and heat in winter... you’re already in a good spot. It's ok to feel upset, but you are young and you have your whole life ahead of you. You can recover. Learn every lesson you can from what went wrong. If you are willing, find a mentor that can go over your account with you (not me, I'm old and dumb) and maybe help you see mistakes you don't even realize you made. Best of luck! I had a kid with a narcissistic sociopath woman. 18 years of hell.... About 5 more left. I'm going to make it, asked you will too. You're young and you will rebound I haven’t read the other comments, but right now if I were you I would buy as many MVIS shares as that will get you and then don’t touch them until the buy out is announced, as that should boost your balance back up by quite a lot *earn your risk* - start at literally $10 risk per trade. that means $10 net is lost when you go your stop distance x number of shares. if you have positive expectancy (look up the formula, journal all your trades, and *calculate it*) for 2-3 months, up to $20. repeat every 2-3 months until you get to 0.5% account risk per trade. then scale that up *slowly* over the next year at least, to 1%. max ever to allow yourself, ever, even if you've done this 20 years and are making money every year - 2% per trade. period. Try paper trading for a couple of months until you figure out the best strategy for you. Subscribing to a trading journal like trademetria might help you analyze your entry/exit mistakes especially when you are in a slump. I can relate If that helps. I’m a 32 year old coast guard veteran been working in aviation for over 10 years.. I got into day/swing trading part time last year because I truly like trading, and partly because I was severely burnt out on aviation, (especially in the civilian world) and wanted to have a secondary source of income to help relieve the anxiety of work.. finally decided to quit my well paying career and take trading full time. It was going well for a couple months there, but lately it’s been a string of non stop red days.. my risk management is decent, but it can definitely be discouraging. With steady percentage gains and good money management, you can be back to 37k in 2 months. You're 22 years old....be patient. Learn from your mistakes. How’d you get 37k at 22 years old? It stings I’m sure, but you’ll be fine. Most 22 year olds don’t have the 2.6k you’re left with now. First off, welcome to the club. I've blown up multiple accounts over the years in excess of $50k. I've put golf clubs through monitors and Macbook's through drywall in rage from losing it all. It's going to burn for sometime, don't let it get the best of you. This moment in your life is where you grow, get stronger, and move forward. You can't change what happened yesterday, but you have control of not fucking up tomorrow. Leave the revenge trading to the other suckers. Let your pain the fuck out of you. Keeping the pain and rage locked up in the cage, which is you, will end badly for you and those around you. Find some healthy outlet to release the fury, pain, and anger. Maybe some physical exercise, banging hookers, raging out at a rage room, etc. Do what works for you. Also, consider making investments more so than making trades. Buy shares instead of risky ass options that can blow your shit up in a matter of seconds. Steer clear of any hype trains and meme pumped stocks as well. Keep in mind, this too shall pass. I hope this helped you feel better. Now change your tampon and get back on the field Billy. You had a loss of +/- 35k. You're 22. It sounds strange, but for your future life 35k means nothing. Work hard and put the money in passive investments, if you feel that active trading is too risky. If i did this from 22 i would be much richer today, so you're on the right way learning this lessons at this age. You'll make it back. Take profits move on. Say it with me now. ""TAKE PROFITS AND MOVE ON"" You still got this. If you're willing to watch your account go down why quit before its actually up? Gotta set limits. 5% 10% 15% 20% gains gradually can feel better in the long term than 50% or more in losses short term. I'm 24 should have gotten in when I was 18. Cant stress on the shoulda coulda woulda's and keep that same attitude you had when you were up before you realize this was only the beginning of your financial freedom. Some of us learn lessons the hard way, welcome to the club. Dude your only 22 years old. You have so much time to make that up. Learn from your mistakes. If I could give up all my money to be 22 years old and start over I would. I am 41 years old and started trading the same time you did in Jan/Feb it was way too easy. I was making money fast, then everything fell. I’ll still down in most stocks I bought but I’m holding and some are starting to recover. Hang in there! you had 37k and you're 22? How's that happen? You have all the time in the world. Buy some Crypto or something. Buy some weed stocks while they're cheap (it's gonna be fully legal real soon for your life)...EV stuff...or guns and ammo for the fall or civilization... Whatever you wish you had done 5 years ago and sat on...do that now. You're not going to win the lottery. You're still in a better position now that most people are at your age. Only now, you have a little experience and if a pandemic or market crash happens again, you know it's gonna come back up. I wish I had 20 years to build. Be patient. You'll be fine. Remember...you pay less taxes if you hold for a year. A year is nothing at all for you...you have lots of them left. 2020 was the best bull run. I lost 100k in that year. I’m 27 years old. My heart sank when my account dropped below 25K. I still tried to bring it up with single day trades and then over night my account dropped below 2K. I sat there still hopeful. And honestly I’m still hopeful. I learnt that impatience doesn’t get you anywhere in the stock market. I learned emotions doesn’t get you anywhere. Were those lessons worth a 100K, most likely not. But that’s what I had to pay to learn that. Now I’m back to my day job, trying to earn my capital back only to go back to trading stocks, but more wisely and conservatively. I’m already up to 8K in 3 months. It’s not much but one step at a time for me. Losing hope is the last thing you want to do. Being persistent and ambitious is what’s going to make you. If you are determined then no amount of money can bring you down. Money can always be earned but motivation needs to come from within and the drive needs to be there. I'm so sorry. Confidence is so important. Take a break for a week or 2 and then make a plan and stick with it. Things will turn around for you if you stick to your plan and get your confidence back. I'm rooting for you!!! Happened to me too took 40k to 120k back down to 30k so I feel your exact emotions. It’ll be okay grasshopper. So you lost 35k of your initial investment Who cares!!!! You’ve learnt your lesson now end off. Pick your self up be positive think of it not as a loss but as an investment into your education. You’ve got this, You can do it I believe in you, We all do. Get back in the game do your thing. you can do it. Don’t beat yourself up You’ve got this. You learned an expensive lesson. Take some time off from trading but don’t give up. Go look at the Dow Jones Industrial average for a century. Then go look at the M2 Money Stock chart (TradingView has both) The government prints money. Stocks go up. 1929 crash, 1940s WW2, 1987 crash, 2001 crash, 2008 crash, 2020 pandemic crash All ended up as buying opportunities. Because the government prints money. You will bounce back but don’t give up. Take it as a challenge, Hey, better to loose 34k than 2 million right? The important thing is that you learn. Plus you're 22! you can make that money up on a side hustle. Without diminishing the pain and financial loss, I want to tell you that you are still very young and can come back from this setback. If you decide to continue trading, (1) find a strat/setup, (2) paper trade it for a month or longer, (2) keep a journal discussing each trade, (3) track the stats/success of the setup and think how to improve it if necessary, (4) write rules (general, risk management, and specific to setup), (5) once you become confident in your success after enough trades (25-50 or more), go live and only trade that setup. If you can backtest the setup, you can shorten the paper trading time period. If you want to do any other setups, go through the same process. I'm turning 36 on the 28th. I've been trading for a long time and I've lost a considerable amount when I started. What you have that you don't realize is time. You have your whole life ahead of you to make that money back. I, on the other hand, will be completed fucked if I lost a considerable amount with my age. I have a mortgage, car payments, kids, etc. Take in stride and learn from this lesson. It's only a loss when you didn't learn the lesson. Trading with emotions is BAD. I used to be like that too. I would chase the money after a big loss but all you're doing is digging yourself a bigger hole. I set a daily loss and gain limit and when I hit that number I walk away. Unless the market is really favorable then I will keep trading. Tomorrow is a brand new day so I just rinse and repeat. The hardest thing to overcome for a day trader is emotions. Once you can take emotions out of the equation you'll become a much better trader. Don't let it bring you down. Keep your head up and look to better days ahead. If you need someone to talk to, DM me. I wish you the best of luck. Man, that really sucks. You had a nice nest egg and now it's pretty much gone. Here's something to learn from this You can come back. You're young, you will be ok Next time, set up a long term and trade with small positions. That’s rough and sorry to hear it. Keep trading until you recover and make some more and repeat the loss all over again. And when that happens, you won't worry about today. Wow sucks to already be rich when starting in this industry. Treat it like a career. Baby steps from paper trading all the way up to 5-6 digit position sizes. Increase your size maybe once a month if you have good stats. If you don’t back to paper trading. So many people did this exact same thing. We all fell into the trap of the bull run. Just continue to reinvest and make smarter decisions, which most of us are going to continue to do as well I’m literally in the same path as you, I’m 21, lost 40-50k . I originally said to myself that I’m going to invest majority of it and set aside some for day trading. I broke the rule and traded options and actually 3x my money but it went downhill from there. There’s nothing we can do besides learn from our mistakes and keep learning Where the fuck do you get 37K at 22 years old? Jesus h Christ my life would be changed with that kinda money. Just be happy you have money man. You're only 22. Chalk it up and do it again next year. This time, don't screw it up as bad. You did it once, you can do it again, this time with more knowledge and fundamentals and honestly even a better understanding of your emotions. I hate to make this reference, but I think it’s relevant. How many millionaires have went totally bankrupt to only come back harder and become even wealthier? The same thing applies, learn from it, and move forward. You cannot give up in life, if you just keep pushing and chasing your dreams you’ll fucking make it bro. Chin up, god speed 🤜🏼 As others have said, basically everyone loses big in the beginning, some more than others, but the bottom line is almost always the same. I started with 27k and had to refund my account twice bc I dropped below the pdt limit (lost about 7k in the first three months daytrading and anther 10k ”investing“ in pennystocks). I‘ve been consistently profitable for the last 4 months despite the market taking several hits and small caps momentum slowing to a crawl. I’m not getting rich by any means but I can pay my bills with the coolest job I could dream of. Reading my journal entries from the first few months is mind-boggling in hindsight. I traded 200-400 share positions and had a couple of trades where I lost over $500 in seconds. In November I hit the reset button, reduced my share size to 10 and focused on a few setups that I was reasonably good at. Working on clean execution with baby size and meticulously journaling and analyzing all my trades was the biggest game changer in my trading and I think I would’ve long given up with my money gone hadn’t I stepped back and re-evaluated. I feel you. I started with 37k. Got to 210k from Jan to feb. then from feb 11th till April 12th I proceeded to lose 50% of my profits and took me down to 118k... I realized then that I just wasn’t the right personality type for trading. Not yet. I chased the high and let rules mean nothing. Don’t get back in to it until you have your mindset rewired and you follow your rules to a t. Look at your losses and realize and pay attention to what you did wrong that made you lose those trades. Compare them with the trades that you did win. And adapt you entry and exit strategy. I mean you were able to go from 32k to 52k that means that in somewhere in your strategy you are correct. Perfect that thing and keep at it and you’ll build your account back up. And you’re young, so take the time to learn because you are already ahead by doing and not just standing on the sidelines. And also talk to someone close to you, you said you hide it from everyone. And trust me there is no need to, some people will tell you to quit but the right ones will cheer you up. Find those and hold them close, because you will have those days and those people can help to make things better. But overall adapt/change your strategy and get back at it. 💪🏽 When I blew up my account I struggled with it for a loooong time. As hard as it may be, try to see it as a learning experience. The emotional trading is what really screwed things up for me. I’d sell a position and then watch it skyrocket without me, get into a position without stop losses and watch them plummet. That all began last year in July. I’m only just now starting to feel good about my positions and making profit again... it’s not the same and I dream about making that money back, but I don’t dwell on it. You can’t approach it that way. You’re not going to make a bunch of ten-baggers off the bat... it’s going to take time. If you keep trying to learn, you can be really good at this someday.. but know when to cut your losses and walk away. Take a break if you need to. You’re 22, your life is just beginning. I didn’t even start trading until I was 30ish.. you’ll be okay. You still have $2.6k. learn from your mistakes and keep building. Have a plan and stick to it. Figure out exactly what you did wrong and how you will not do it this time around. Do the work. Give yourself some time to feel sorry for yourself, like 20 mins, then get back to work. That's the only thing that is going to make you feel better. Build those habits and systems. You’re 22 y/o so take solace in the fact most 30 yos don’t even have 10k The fact you are reflecting on this and seeking advice is confirmation you’ll be back Best of luck soldier Watch Jared Wesley's videos on YouTube. He features issues like yours before his lectures and teaches how to avoid them while teaching how to trade. There's no way to make you feel better besides telling you to get back on the saddle and ride. You have $2,000. The market is still there. Learn before you ride, though. Many who make your mistake continue to make that mistake. Therefore, you have learned a lesson, but you haven't learned to trade. 22 is young af. I was living paycheck to paycheck until I was 26. You’ve plenty of time to make money. You’re still young homie. Just think about all the millions of people in way more student debt paying interest for 30 years. You’ll come back from this even stronger. That's definitely a tough loss...we all make mistakes it's what we learn from them... You definitely have to change your strategy and maybe don't ever trade speculative stocks again...you could win....or you can lose.... I myself don't gamble...that's how you win every single time. ❤️ ❤️ Here's my take on this. You learned a lot. You definitely lost a lot, but you learned too. The good news is that with the right plays, you can make that money back. Just keep educating yourself and for a while just make smaller trades with less downside. You cant lose until you quit. So don't quit. You're obviously not afraid to go for plays that could have made you rich, so you obviously have the balls for this. Just keep at it. Take the L and move on. But stay in the game and keep learning / self educating. 22...I know its hard to hear it but you are literally still so young the money is completely inconsequential in the long run, take it as a learning lesson, keep your head up and continue kicking ass in other aspects of your life I'm 33, I wish I could have learned the lesson you're learning, when I was 22. This will pass, there's a lot of life to live. You'll make more lonely, you'll trade again if that's what you want to do, you'll find fulfillment in a variety of things available in life. You will be fine. I assume much of this is from options trading, the only way you could lose so much so quickly. Bottomline: you never play options with money you can’t afford to lose... what you did is called gambling, not investing. Only disciplined, experienced individuals should be trading options right now. I think the growth success of the market the last 12 months has fooled young investors into thinking this is easy. Meh if youre 22 and have 37k to burn, youre better off than the majority of the world population at this point, regardless of age. Youll be alright. 2.6k may sound less for you. For other people like me, starting with 100 and making it to 3k, it is quite a lot. If people are able to make 100 or 500 into 3k, then you can surely get back on your feet with the 2.6k as well! Man I don’t know why this sub doesn’t just say it but you have a gambling addiction. It needs to be said that playing high IV tickers expecting to get rich is a recipe for disaster especially for inexperienced traders who have no risk management or position sizing. Why play low float tickers? Learn on the highly liquid, quality big guys (even if a lot of them are algo traded). I would bet that most of your positions were close to all in. Tuition is expected but it’s not a shining medal or badge of honor. You lost money because of your mistakes. I hope you learn from them if this is what you want to do long term and yes it’s just money please don’t do anything stupid. They do say the best traders are born from losses. Live to trade another day. 22 yo with 37k, damn bro I swear times have changed, at 22 everyone I knew was lucky to have a few grand in savings The job is to protect the principal, not make money and you do that by making good trades with precise entries and exits. Trade to trade well not make money. You’re young and you need a batters memory, focus on being at the plate not yesterday’s strikeout. You’ll be fine. Great work getting that capitol together. I lost 230K in february and 157K of that was actually a failure of my brokerage rather than me making a bad trade I'm 38 and I've never had 52k liquid worth in my life. It's a bad beat but you'll fine. Gambler’s anonymous. I’m 36 and you’ve already lost more money than I’ve ever had to my name. So if you managed this by 22 I’m sure you’ll bounce back. It’s about perspective my friend. Same happened to me, look at it as paying a tuition. You’re self taught, you know what not to do now. $2000 is a reasonable amount. If you can go from 36-52k, then you can definitely flip 2k to 4 then 6 then 10... Expensive lesson but think how much better prepared you are for what’s ahead. You’re still VERY young and will rebound in no time. Wait a few weeks for the correction to end and put it all on Bitcoin. Don’t trade, just walk away for a couple of years. Thank me later. File for unemployment. Imagine how good it's gonna feel when you take your account from 2k back up to +50k! Hang in there! Also what do you do that you had 37k laying around as a 22yo? You don’t know trading till you’ve blown up and account or two. You’re young...and this happens to the vast majority starting out. It’s a lesson just a brutal one. In 2008 my husband and I were on our way to become multi millionaires. The market crashed and we slowly lost everything over a 10 year course along with multiple lawsuits from our development project tanking from the drop in value. I don’t sweat it and I’m still standing at 39. Redirect your focus and just plan to only buy and hold crypto. Trading is to risky. Keep your head up. Wishing you the best. You are so young. You learned a lesson the hard way. Things will get better my friend, let this be your start to your comeback story Dude you’re 22 years old. The fact you even had 37k to trade with is mind blowing. I’m 23 with a full time job and a college degree barley have 10k to my name. Only trade with $2,000 lol. You just learned the hard way and at 22 you’re way ahead of most of your peers. You’ve got a long time to make it back and then some!! So how do we coordinate a giant short to help get back your cash ? I know this won't make you feel better but when I was your age I was thousands in debt already. I dug that debt hole for another decade. It sucks you lost your money, I get it. Every time I lose money trading it stings bad. But you CAN build it back slowly and cautiously. Take time to let your emotions settle and come up with a plan. Be extra cautious in the next couple months while things are bearish. Trust me, you'll recover faster from this than it took me to recover for thousands in credit card debt. Hang in there. Take 1.6k of that out and put it in your checking for bills, then spend the next 3 months studying. Hey u/TGA25, I'm sure there's not a trader here who hasn't had this feeling at one point in the trading life, one way or another. I have, and more than once to be honest with you. The feeling doesn't last, it isn't forever, but these types of instances are great ways to reflect on where you didn't perform well. What got me through was thinking about this rationally and how this would impact me over the course of my life. A loss isn't permanent, it just feels that way right now. If you think about your loss over your lifetime of another 50+ years, it's -700 a year, or equivalent to a couple of dollars/pounds/euros a day. Is that amount worth being depressed over? From a practical perspective, personally I would scale back your trading activity, take a break. Revenge trading is real and is of no help to anyone. The markets will be there next week/month/increment of your choosing. I'd take the time you aren't trading to figure out why those trades went against you, it's not wasted time then. You're choosing to improve and that's what's going to make you successful in the long run. Here to chat if needed, You sound like me 4 years ago over a blown up 2k account...fast forward years later (it’s part of the journey) You need to treat every new trade as a new trade being it’s own, not influenced by the past. As soon as you start making bigger revenge trades to break even is when you need to take a break. You need to sort out your psychology and start slowly building again. Have better risk management, protect your capital at all costs. If you lose a bunch in a row, cut your losses and take a break. This is a clear example of how a competent skilled trader can lose his edge if they get sloppy in the mind. It’s an expensive lesson but with persistence you’ll get it back. It will just take time. Be prepared. 22 years old? Fuck it. You're 22 years old. If that's your biggest fuck up in life you're doing great. Just learn from your loss. Tell your self, you’re young and it’s ok to take risk at young age. You got your entire life to easily catch up again Not sure how you got $37k by 22 to begin with but that’s great. Don’t get down on yourself. Money comes and goes. Focus, study and maybe go with some low risk investments while you’re getting your confidence back. Don’t give up you’re doing great! In March 2020, when Bitcoin was at $3,500, I could have bought ten coins. Had I done that, I'd be sitting on half a mil. Today, I'm on unemployment and just barely scraping by each month. Learn from your bad trades and don't forget them, ever. You'll come to realize you KNOW when yoy shouldn't be doing something(poor size management, poor entry etc) but you'll do it anyways even tho you know it's not the best decision. I'm telling you when you realize that, DONT DO IT. Stick to what you think is rational, good entry proper size. 92% of the time, over a 20 year period the index fund will beat any day trader. Day trading is overcomplicated investing. I too have made very expensive learning lessons. I still do. But I always try to look at the positive spin like at least I’m not in drugs or homeless. With bad investments I will hold on to them and take a break from it all. I’ll get more involved with family or work then after a month I’ll look back at it. There have been some investments that if I held on to them over 12 years I would have made out like a bandit. I feel for you and hope you find positives in your situation. Here’s is a little story (you may have heard it before ) an employee at an organisation made a huge mistake and lost the company one million dollars he went to his employer and said I’m sorry I expect you will fire me. His boss said “why would I fire you I’ve just spent a million dollars on your training! That’s how you should see this. This a great and expensive lesson learned at a young age! You’ve been knocked down and the only place to go from here is back up! So pick yourself up, dust yourself off and keep moving forward. Think about what you learned, put it into practice and one day you will look back and be thankful for what you learned because you will be more successful than ever. I wish I started trading when I was young like you. $ lost is a gained experience. Stay strong and keep trying again. I would read the book trading in the zone if you want to keep trading. You can trade. Just gotta get your mind right. The market is just the market. I don’t want to sound harsh, but you did this to yourself. Trading is a big responsibility. Now that you understand that pain, you could level up in skill once you get over the grief of the losses. Never let em see you sweat. You’ll get through it. Hit the books, get smart. First of all you will be all right! I know it’s seems like a lot, but you are going to survive. It sounds like you were chasing the market and cutting your losses way to much. Cutting losses makes sense sometimes but the market always rebounds as we began to see today. Don’t be afraid to hold a bag every now and then specifically when it means you won’t have to lock in large losses. When the market shits the bed.. just chill. It’s hard to be to be in the right place at the right time in the market.. but with alittle bit of time you end up in the right place.. meaning don’t chase. The last two months have been hell .. hext time just hold your positions unless it tanked for a company reason.. your position will rebound. I think the majority of us have been there man, ive barely at the age of 25 have learned how to control my emotions and make better financial decisions, ive been doing this for 5 years already too.. You're ok bud, you can do better and you know now That's like a year or two of tuition money (american tuition), but you probably learned way more in this experience than at a year at university As others said just take some time off, don't think about stocks or anything ""heavy"", just relax, forget stocks exist, just try enjoying your life for a little bit. Then come back, sit down and make a plan. You paid your ""stupid"" tax. Learn from your mistakes and rebuild. I lost $20k of my own money at age 18/19 (I saved up a lot of money and did tons of summer jobs since a preteen) by buying this stock and that stock without fully realizing what I was doing going almost balls deep into everything and doing no DD. Like you when I saw the losses rack up, I let my emotions get the best of me and sold at a loss to recoup whatever I could. Fortunately, my dad (who was a master at day trading and investing in my eyes who was able to retire at the age of 45 and currently lives off dividends equaling about $500k a year) realized I would fall due to my arrogance (I was a punk kid in my younger days) and was hoping I would make a move this dumb while still living at home with him and my mom being my safety net as opposed to me making this dumb of a decision when independent leaving me unable to pay rent, bills, necessities, etc. I worked my ass off recouping the losses while my parents supported me with paying essentials when I needed like maybe a cell phone bill or two or if I needed help with making a payment on my tuition. Your 22, so I assume you either live at home with your parents still (or if your out in the world maybe consider moving back home). As a beginner, you should read and do research on what your exactly getting into and how much is at risk. With information so easily available now as opposed to when I tried to get rich overnight (I was 18 in 2006), you can come back and try again after building your confidence. TLDR - I fucked up, hard, at a younger age than you. I'm sure others as well have here too. It's not the end of the world. Take a breather and see what went wrong and how it went wrong and learn from your mistakes and get back in the saddle when your good and ready. And ask you parents for help if you need it given your age. What’s doesn’t kill you makes you stronger you’ll rise back from this only 22 buddy relax and embrace the experience Sorry to hear about your losses man. You’re doing freakin awesome though from my perspective! If you’ve had the determination and work ethic to scratch that much money together to invest by your age I’m impressed. You learned an expensive lesson but the key is learning. Jon Maxwell says “you win some you learn some”. From over here if I heard of someone who’s done what you’ve done by your age all I can think is you are going to be very successful and have a lot of money. You can always earn more money, the good thing is you lost it early and you’ve got lots of time to earn more and change you’re investing strategies. Chin up man! You’re going to be ok! I know it feel like a kick in the gut now but someday it will be just a small part of your success story. It's tough but learn from it, if you stick with stocks, or don't, either way you will become stronger. Your young, better to have learned that lesson now than later. I'm 37 and still learning this stock market shit, wish I started as early as you Good luck, you got this, stay strong a lot has been said about education etc... i went through something similar but certainly less of magnitude as yours and still learning and i just like to offer something else about learning - trading is a game of psychology not really solely on charts and news. there's a lot of smoke and mirrors around but if you study humans, you get strong causational factors than what the world is trying to convince you from the trading arena. more importantly, learning is only true when you change or course-correct, if nothing changes, then there's no learning. we're all humans and there's always emotions involved, that's natural. know that there're over 700 people here to support you as a community. fight back, keep asking and i'm sure you'll get back on your feet again! sharing with you this [tool](https://app.sparticus.xyz) that helps me a lot in my trading. Hey bro keep your head up and try to not be so emotional. This is the biggest flaw in trading if you trade emotionally you will lose. It's good to get your dd from redit and YouTube etc.. but you need to make sure that you are verifying everything on your own before you make a decision. Also starting with such a high amount is dangerous, you should have started with a small account and slowly add as you learn, this is like driving Hayabusa when you don't even know how the gears work. You are officially at the amount that you should have started with take it slow. Here are a few things I've learned I hope they help: earning big isn't the goal, the goal is to simply earn. Shorting is more riskier that than buying. Leverage isn't always good, you have to pay it back at some point. Cash accounts help you manage your money easier. If you buy and you go red don't sell just hold, if you have the cash average down break even and get it before it's too late. And finally get a journal and right your thoughts down, looking back on it you will be able to track and see where you make analytical mistakes vs emotional ones. Good luck my friend. Lessons not learned in blood are soon forgotten Kid you're only 22, plus you have $2,600 to trade with. That's actually a good thing. Plenty of traders have blown up their accounts, and then turned things around. ***What To Do When You Blow Up Your Trading Account*** *I received a very touching email from a follower, Michael (name changed):* *“First, thank you very much for your website. I lost my whole account trading the E-mini Futures. I’m so upset. I don’t know how I should start again. Please, can you help?”* *Rather than send Michael a quick response, I thought I might spend some time writing a considered reply and publish it on E-mini-Watch. So here goes.* *Michael, I would suggest you do three things:* ​ 1. *Ask yourself whether trading really is for you and be brutally honest in your answer* 2. *If trading is for you, then go back through every one of your trades and figure out your mistakes* 3. *Then start again, but “paper trading” only and focusing on fixing your repeat mistakes* *You’d be surprised how many emails I get from people who have just lost their job, scraped together $5,000 and want to make a living trading. Or attended a trading seminar showing how easy it is to trade. Or just want to buy a high profit mechanical trading system, and auto-trade it to incredible riches.* *These people have no idea what they’re getting themselves into – they are “cannon fodder” for the Professionals. Michael, if you fall into this category and don’t have the stamina to succeed as a trader, then walk away – there are easier ways to make a living, trust me.* *In my opinion two things separate the Professional Trader from the herd. Firstly, being able to override your instincts and wait until you get a high probability setup. Then follow a rules based trading plan. You need to plan your trades, and know when to close a trade when you are wrong.* *Secondly, being consistent – day after day, month after month – making small gains every day rather than big wins followed by big losses. Approaching trading like a business – methodical, logical, dedicated.* *So, what kind of trader are you? Is trading really for you or would you be happier focusing your energies somewhere else?* If you are lucky you will get to have several more losses in a lifetime! Hopefully stack a win here and there to get you on the plus side! At 22, absolutely don’t worry! -Chip and a chair! Yo 31yo right here and been trading in the red for 2 years now. Suffer from severe clinical depression and anxiety my whole life. Now an adult, medicated, and a leg up knowledge wise and still trading red, but my charts no longer resemble a jagged mountain range. Might be down $200 overall (and yes I know that's not comparable to 2k) but I'm still standing strong, still eager to learn, and looking forward to seeing my account back in green thanks to hard work. Don't give up, nothing in this world worth having comes easy. You can bounce back if you have the courage to better yourself Did the same thing myself but with only a few hundred dollars which is a lot for me. It especially sucks when everyone around you is like ""told you so, the stock market is gambling"". Took me a few weeks for the whole incident to stop plaguing my mind every second of the day. I haven't given up though and will be trying again because the upside that comes with learning to be a good trader is limitless. All you really need is one good strategy that you can rinse and repeat as well as good risk management to make sure you don't lose everything. Sounds easy but I haven't been able to do it yet and a lot of people give up trying. Good luck! Lol bro losing 52k is nothing man... I know how you feel. As if the whole world as ended, there is no way you’ll ever get back to 37k let alone 57k. But there is, you just have to sit down and understand what you did so you don’t repeat your mistakes. I had made my initial investment of 10k at 20 years old into 130k by the age of 23. Lost it all, Im 29 now and have more then I’ve ever had before. Thank you for your donation First of all take some time off from trading to get your mindset back on track. Second of all congrats: its a rite of passage I don't know any successful trader that has not burned an account or two (myself included) or that didn't at least get very close. I recommend you read the Market Wizards books (interviews with successful traders institutional as well as retail) that should inspire you and also you will probably realise that as I said these kind of things are part of the learning curve and if you continue to put in the work and learn from your mistakes you will become consistently profitable eventually. I feel yea, I started at 4K in January got up to 106k at the end of February and now I’m at 289$. Shits rough I started from zero at least two times in my life. It just teaches you to be resilient . And I was happy to see my daughter lose money early in the game of investing. Hey, take it as a challenge! Grow it back to 30-50K, but not right away. Study trading on YouTube, read books, etc for a week or two, then come back refreshed and renowned and try something different. I like the way this guy is trading: [https://www.youtube.com/watch?v=VRM3BIH11a8&t=851s](https://www.youtube.com/watch?v=VRM3BIH11a8&t=851s) He started from 25K and almost doubled it less than in 4 months. When you di it, you will feel very confident in yourself. Reminds me of how I lost about 10k in a similar way. Worst thing is that I would have made at least double by not doing anything. I went through depression and even thought about suicide at some point. Still my stubborn ass didn’t give up and I am still trying to get better on demo. I figured out that trading is not really a tool for financial freedom. It’s rather a conduit that might help you achieve it. If you work hard, diversify your income, reinvest, and trade small you will get that in no time. It is more about diversifying your chances of getting money than putting it all into one thing. I hope the best for you and keep your head high. As It was said in Forest Gump. Shit happens. So duel whatever you have to duel and get back to the pilot seat cause you got some work to do to recover and thrive! So I started trading around the same time. I signed up for a program that replays entire trading days so you can see how you really would have done on that day. It got me comfortable with trading large sums of money for small payouts. (I signed up for the program after some initial losses in the real stock market). I came up with a strategy that I know is specifically not recommended. It’s foolish, and a pretty shitty risk to reward ratio. Anyone who would see it would think I’m an idiot. I think I’m an idiot. I had a few losses in the beginning, but I’ve had almost 40 straight wins without a loss. The most important requirement is to trade in a volatile stock. I begin buying about 25 shares of a stock, sometimes worth up to 175 per share. And all I’m betting on is that it goes up a dollar. Then I immediately cash out. If the stock goes down, I just buy another 25 shares. Goes down again? Another 25 shares. Down again? Another 25 shares. Sometimes I just wait for it it to hit the Dip, and buy some more there, all with then intent of bringing my average cost per share down with the dropping price so I can sell 50 cents to a dollar above my average buy price. At one point, I’ll start to get scared that it will just keep going down, so I place my limit sell at something like 30 cents above my average, a ridiculously low reward to risk ratio. But it does make it significantly easier to cash out. But those 30 cents end up being my biggest wins, ranging from $250 to $400 per trade because I have so many shares at that point. But he’ll, I’ll settle for a $30 win. I’ve been in it 78k before a cashing out for $400. Terrible ratio. Stupid risk. But I don’t think I’ll learn my lesson until I experience a dip so drastic that the stock never bounces. I’ve had to leave it overnight on a couple of occasions, but it’s always worked out. I don’t need to know anything about the company. I don’t need to do heavy analysis. I just need to see if there is a general trend up or down. I need to make sure it’s consistently fluctuating between 2-3 dollars. And of course, you need enough cash to follow the price downward if necessary. On most trades, im in and out in less than a couple of minutes. My number one rule, and to which I largely attribute my success, is to not be greedy. Every time I’ve sold, the stock always rises higher than what I sold it for. But I don’t see that as a lost opportunity. I see that as insurance. My goal isn’t to sell at the peak to maximize my return. My goal is simply to have a return. Any return. I would consider selling at 1 cent above buy price a win, no matter how much money I have in it, because a win allows me to trade another day. I also set my goals fairly low. I’ve had $40 days and $800 days. But except for those initial losses, I never end up in the red. I almost forgot. There have been times when I run out of cash before the sock is done plumetting. What I’ll do is just start another game with myself buying and selling at 10 cent or 25 cents above buying price, sometimes as little as 5 cents just to keep buying at a lower price and bringing my cost average down. It’s an ugly strategy. No one would risk 50k or 60k just to get a $30 dollar return on a trade. But I will. I haven’t traded nowadays because I’ve put it all on ethereum. I did the math, and it would be very hard to beat the gains I expect to see in ethereum. And I haven’t been disappointed. Try out thetagang and tastyworks. Selling options is much better strategy than timing the market or picking winners/losers. 37K at 22? You have no problems in life. Learn to admit a mistake before it gets this bad again. You’re young enough to fuck up some more Put the rest in IPOE and stop daytradjng. Just invest in great companies and do nothing You are 22, your full life is ahead. As long as the loss is only monetary, and you learn from the mistake, you will come out stronger. Do not forget: if it doesn't kill you, it makes you stronger Same My Friend, I can tell you the Exact same timeline, Even started at the exact time and lost it in FEB,2020. I did not know it all, I did not know what I do now, you still have an account, you are the 10% that did not blow their account the first year. congrats, Hows it feel to have made it this far and still have an account? Remeber 90% Lose that account the first year... Just head the Adam Smith quote: “the stock market is an expensive place to find out who you are”. This is not a personal comment. But it’s about who we are as people. Please do yourself a favour and read The Behavioural Investor. I’m listening to the audio book right now and it’s really insightful. Best of luck and I know you can pull yourself out of the rut you’re in! lol. i had 100k now im down to 10k so Youre 22, theres so much life- opportunity ahead of you. You could literally punt the next 18 years of your life and still only be 40! Not to mention having 2k is plenty more than most people out there have to start with. Take a break, try to do something completely different for a couple days, then chin up. Its a mindset game. Everyone blows up an account or 4 starting out You got this. Life is about learning from mistakes and moving on. I will be cheering for you and your comeback! Bro your young and you can always make that money back I’ve lost over 100k. Money comes and goes. You will have your up and downs. Don’t beat yourself up because of it I did the same at the age of 20. I couldn‘t believe what I have done. I basically did every mistake that was possible. Adding to losses, ... . Many years later I‘m happy that I made that experience when I was young with just a few dollars. Otherwise I would have lost now much more. I‘m still investing but with low risk and mostly standing at the side and watching. Definitely nowhere near as much money as you, but I had 16k (which is a LOT to me, red flag) and went down to $800. Now back to 4K currently, but that also includes deposits into the account. I definitely understand your pain and depression dude. I spiraled hard afterwards. Maybe take a step away for a little. That helped me when I was freaking out. Step away for a bit. Don’t look at investing subs. Don’t look at any potential investments or do any DD. Just take a full stop, then come back to it with a clearer head. Take care of yourself man, still very young too so you have nothing but time to bounce back, which you will definitely do. Bro I just did the exact same thing, yolod everything and was hodling and managed to double it twice, sat there hypnotised for 18hours first time trading trying to double up again and lost everything, I felt as bad as a human could feel. I felt like at that point I had ruined my life and there was no possible way to get back. Didn't want to tell my family after they all thought I was doing so well. Told them anyway. The next day I noticed I still had $945 in a coin. I traded and doubled up, the next day I made about $500 the following day I lost $700. But I have found some hope that if I can figure out how to win trades and not try make gains to fast, there is still hope Take some time off from trading actual money. There are tons of free videos on YouTube on charting, premarket scanner, on how to do due diligence, how to read Sec Filings etc. You can try different set up doing mental trade without risking money and by just observing any stock that is moving by looking at the volume, time and sales. Also look at videos on YouTube on how to use Finviz to help you find stock that could run. Get yourself a good broker and trading platform. There are a few that you can used for 90 days for paper trading to help you improve your skills. Once you comfortable with trading again, manage your risk, take emotion out of it. Once you are in profit on a stock, always take some profit with a minimum is take out what you put in. 70/30% or 80/20% base on your risk, take 70/80% once you hit your target profit, leaving 20/30% to see where it goes. The goal is to survive the 1st 3 years with minimum of loss or even with some profit as you learn and gain experience. I used a cash account to trade, no ptd rule. I personally do not short stock with a cash account I can not short sell. Short selling is the fastest way to wipe old your account if caught in a short squeeze. I would stay away from complex instruments. I trade mostly actually stocks. With options you will lose every dollar you used to buy the option if your price target was not reach and it ending up expire. Good luck Mmm don’t get discouraged, but do slow down. Take very small steps to rebuild your confidence, primarily continue to learn as much as you can, every day. If you learn any single thing, and take that new wisdom to heart and mind then you have gained something money can not buy. Keep learning, keep trying, keep growing your skillset and judgement, and self control as a trader. There will come a point when your knowledge and practice can create wealth for you, from any account size no matter how small. Learning, confidence, building upon small successes. Then the profits will come, and there will be a day when you confidently blow right past your initial investment with ease, even starting with $100. Patience and persistence Money is just a piece of paper with a number on it. You still live fine if you lose some of it. Money you can get back but time you can't get back so just find your passion and refocus on that. You have two options the way I see it. Put the rest in stone index fund or YOLO the rest in some leaps. Assuming that you don't care if you lose the rest. Keep your head up. Use what you’ve learned so far and you will be able to bring your money back up. Be sure to avoid impulsivity and trust your research. There are ups and downs, so don’t let your emotions make you sell at a lower price than you bought. It’s something we’ve all done and lost money to. Stay strong young trader 💪🏽 You’re not alone (I’m only 24, you might feel like you have less life ahead of you than you actually do. But remember we’re still pretty young) Trading aint gambling. Learn humility and patience, then, you will make profits. Just being real. Money comes and money goes... you are young and learned your lesson with an amount of money that will not ruin your life. The only thing to do now is to learn from your mistakes and not go balls deep in something you don't fully understand. I would stick to longer-term investment strategies. However, if you want to try your hand at day trading again I recommend starting with paper trading, using small amounts of money, and HAVE A PLAN TO EXIT WHEN YOU ARE DOWN OR UP!! don't trade on emotions and at the end of the day, your life matters more than a few numbers on a screen! :D I recommend u automate ur strategy with algo, so ur emotions don't take part onto the decision making. Success is when you don’t lose enthusiasm failure after failure. You got this! I blew up my accounts twice. I was depressed like you but then I chose to learn from my mistakes and move on. Risk management is everything in trading. Never underestimate your risk!!! Sorry to hear this man.. bright side, you learned some big lessons for your age. Better now than being 36 with a wife and kids and playing around with the family savings and turning your marriage into a tense, shitty dynamic. Plenty of people have lost MUCH more. You're young and now you know how the market works (to an extent).. Consider it a lesson and keep climbing elsewhere. Hey man, that really sucks. I am learning right now, and I am no expert, but there is one thing that I have picked up along the way that has really helped me get my head straight. The ONLY thing that you can completely control in trading is how much you lose. good luck bro Back to pennystock you go thou is not worthy yet for big gains. The good news is you are young. (I took some big losses recently breaking the rules and not cutting losses.) Get How to make money in stocks by william j. Oneil ..goes with IBD. They have an app. Follow the book and IBD and makr 5-10% a month. Compounded that is 200-300% a year. Here..found you an inexpensive copy.. https://www.secondsale.com/i/how-to-make-money-in-stocks-a-winning-system-in-good-times-or-bad/9780070480179 👍 Also...in the middle of reading this one... Market Wizards by Jack D. Schwager. Easy read. Humorous and insightful. Interviews with top traders. EVERYONE of the few interviews I have read they took HUGE losses early in their careers and were feeling just like you and many others on here..and these guys are the best of the best. Listening to these guys talk about, examine, and now years later LAUGH at those speedbumps I found helpful mentally for myself and you may as well. Keep your head up champ! Your not alone a lot of people got rektd end of feb! Me included but i took money out before that! I had the same story when I was 26. I brought up my account from 2000€ to 70000€. That felt great. I also diversified, stayed away from daytrading and just bought stocks. Than I noticed that diversification is slowing down my growth and decided to go “all in” into a stock I totally believed in. It was a venture capitalist that held a lot of dot.com start investments and managed their IPOs with huge profits. So criteria were all there: diversified due to startup portfolio, exponential growth out of ipos, still “undervalued” as the sum of the portfolio was higher than the market value of the stock. Than the bubble crashed. My investment went from 70k to 5€. I was so pissed, that I didnt touch stocks for a long time (mistake) and didnt participate in the biggest bullmarket ever. Also I avoided amazon, facebook, apple, etc. Lessons learnt: get burnt, regret, heal, start small again. And manage greed ;) I once lost 200k. You'll bounce back Man...I’ve been exactly where you are so many times. I blew up account after account for 3 years straight. It got so bad I couldn’t even place a trade, I would literally shake every time I would enter a trade. Eventually, I got it, I never gave up and I continued to face my fear. If I would have given up I would never be where I am at today. Keep your head up, stay strong and stay in the game. Eventually, things come together. But don’t beat yourself up in the meantime. Most important thing I learned from all my experience, is position size, focus on the validity of the trade not the dollar amount and if the dollar amount bothers you, you have too big of a position. Reduce until you are comfortable and able weather the market if your trade doesn’t turn out as you planned. Watch your position, watch your emotions and focus on the trade itself. Paper trade until your confidence comes back. Find your niche in the market and master it. Just keep growing and take it easy on yourself. You have plenty of time to recover and make more money. Professional trading is very difficult. Not only do you need to be profitable, you need an income. That is much harder than simply turning a profit. I would slow down and make very small trades you’re very confident about. Don’t focus on the profit in dollars, just the % gain or loss. Prove that you have strategies that work, or find out which don’t. I keep a log of trades. Why did I buy? What am I expecting to happen? Stop loss? Target? Results. Dude, I understand your suffering, I myself lost all my money after persistent training on a demo account for 1.5 years, I was successful, but the market changed, and I could not survive with a small account. Unfortunately, the reality is that you can't make money all the time. You just need to learn how to keep balance. Don't be discouraged. I've also lost all my money and don't even have a job. I do not know when I will return to the game now. Lousy too, but hold on. INVEST INTO DIVIDENDS AND FORGET ABOUT IT FOR A GOOD YEAR OR TWO At 22 I was snorting crushed up pills of a cistern at the pub and betting my last 100 on black every weekend. In 32 now and just made my first million over the last few months. Starting at 22 you’ll be fine I had hardly anything less than 50k up until I was about 25. Get back up and take a more serious shot at investing rather than speculating you’ll be fine. Also I blew my first account and life savings 25k trading 500x leverages forex after watching Amy Sangster videos on YouTube lol. its okay man! Seriously, don't be hard on yourself. you're so young. We all pay our tuition fees as they say. Don't chase your gains back, analyze where you went wrong, and slowly but surely you will build back to that point. Most importantly, remember to stay grounded- you have a roof over your head, food and water, internet, spring is here, and more bull markets to come. Health is wealth, listen to Buffet or the likes, they all say that health is the most important thing in the long run esp at their age. A wise man learns from suffering, and therefore transforms it into a positive experience. Go over to WSB and laugh at the -$200k loss porn with everyone. Please research MONEY MANAGEMENT You really need to learn about trading psychology because this is textbook emotional reactivity. I think one of the most useful things I’ve learned in my journey so far is about how we perceive it all as we go along, and how staying ahead of your emotions is vital. Really sorry for your losses Now you have an advantage you'll be able to write off those losses for years Stock market is always gonna be there. Better to learn this lesson at 22 than 62. I lost a lot at first until I settled down and started making better decisions. Consider it tuition, sit back and analyze your mistakes, what went wrong, why you did what you did and what lead to that decision. Then avoid those mistakes by making better decisions. You’ll still make mistakes and the market will still do unexpected things, but hopefully less than before and you start seeing a profit. Don’t try to make the money back quickly, it won’t work. Analyze, regroup and make non-emotional decisions. If you can’t do that I suggest picking a couple ETF’s to stash your money in and walk away. I am sorry for your loss. Have you calculated what your initial investment would be worth today if you hadn't started day trading? I mean if you put the money into the original set of stocks and held until now. Would you still be in the same situation? Wew, only 30k? Marriage costs way more, just mentally deduct it from that. But also, focus on the future. You will have at least learned one important lesson: only gamble with what you can afford to lose. Emotions or finance. Most people pay a heavier price than that to learn that lesson. Accept the pain, learn from the mistake and move on. No need to keep punishing yourself. Be glad it wasnt 60k, a million or losing two children to a car crash in spite of expecting them to outlive you. Life has a harsh way of teaching. At least you’re still alive, so continue living good sir! Investing is a marathon, not a sprint! Remember that and plan to invest in something for the long term. 1 to 2 months and you got out?! Thise losses only mean something if you sell!!! Hey, that's just being young and immature... don't let the past control your now, bud. It can't hurt to seek advice! Many financial advisors only charge like 1%. Although they're not going to advise any of the meme stonks, many can't! I know Raymond James doesn't allow crypto trading, which imo, will continue to go up (the bigger ones). I lost a bunch on pot stocks a few years ago and still have them to this day, I'm ready to die with those. It's good to put in what you can live without. It's amazing the amount of people putting all their eggs in one or two baskets. Etf's can be a good way to start diversifying your portfolio. Good thing is you are very young. Learn from this!! Use better risk management next time and remember this is not a get rich quick thing. Invest over time When I started I did something similiar. 40k to 80k and than I went HEAVY with low DD and got caught with my pants down... The 80k went to 25k in no time... But I held strong and slowly as positions got green I would close them out, and buy more of the other positions.. It took about 9 months, but eventually they all went back to green. The biggest takeaway is sizing... previously I would go all in and hope that was the best price...Today I will buy in chunks. I just did this the other day with AMC. ​ AMC was at $10 and I had 30k to play with that day. Instead of buying 3,00 shares I bought 500. Price went down 20 cents and I picked up 1k, and it dipped again to 9.20 and than I dropped rest of my bag. This wound up getting my cost average down by almost 50 cents!!! My cost avg is 9.58 and I have 3130 shares instead of 3k @$10... I could even hold that extra 130 shares after I take my profits and let them ""bake"".... Hey man, I've been there and can identify with the pain/shame. When this happen to me, it actually put me in a better place once I got a hold of my emotions. How did loosing a a shit ton of money put me in a better place? It forced me to stop being reckless. I stopped the yolo quick buck BS. I stopped chasing hype. I learned how to use screeners/scanners. I learned how important float size is and how volume can dramatically change price action. I learned to how to calculate short interest. I put more focus on reading historical charts and looking at technical indicators like RSI, MCAD, and moving averages. This are pretty basic things, that I completely neglected to put weight on. Once I was able to semi put that together, I started trading SMALL. Once, I started doing that and making a little money $2 - $10 I realized I was missing something else. An exit strategy! I realized that the odds of me being able to time the market perfectly were not going to happen. I started exiting my trades earlier. Sure I left money on the table, but I made money more often than loosing money. That is the game. Forget what you left on the table after your exit. Green is good. Green builds confidence. You'll get back where you were, man. Have faith in yourself, buddy. I know how that feels like, the same thing happened with me where I lost an unreasonable amount due to silly leveraging. I lost 20k but now I have 100k invested and had I not lost the first 20k, I’m sure I would’ve jeopardized my current portfolio. You’ll have more money in the future than you have now. How to deal with it? Have a plan, start slow, don’t make hasty decisions and you’ll eventually come back up. When you made money, someone lost money on the other end of the trade. Now it’s your turn I get a really uncomfortable horrible emotional feeling when things go crazy downhill - sort of like “this always fucking happens to me!” and “great just when I get in this fucking happens!”. I’m probably one of the few assholes that lost money on the TSLA run.... but doing that made me not chase GME. I’ve also seen huge gains wiped out and second guessed not selling while it was higher. I’ve day traded but am not a day trader per se. But here’s how I’ve learned and approach the market now: 1) I have a few holding that I will stick with long term pretty much no matter what. You guessed it, these are rockstar ETFs. They’re not going to give me mega returns but these bad boys will very likely be steady over the course of many years. 2) I hold a few mega cap stocks that are solid. Yes, FB, AAPL, MSFT, etc. 3) I have a soft percentage amount I assigned to 1 and 2, around x% will be invested there. 4) the rest I assigned to risky plays - ROKU, MGNI, PLUG, DKNG, SPACs and 5) options - I don’t have the emotional fortitude to risk / yolo on options. But if I can set aside some money and come terms that I’m willing to lose it all it makes much more palatable. Pre Feb dip I was up huge on warrants, SPACs, and options, all of that went to shit. I sold many at a loss, slowly trimming and eventually exiting positions, I also sold some of the stronger picks to offset some of the losses. So I took money off the table. Overall still green but lost over 80K in potential profits. It’s a fact - we all have different connections and reactions to money. Don’t deny that. I know ppl who will never invest in stocks on their own and I know gamblers and I know ppl who will take 8% YOY over possible 500% return. It’s ok to be none of those or something else entirely. If the way you’re trading is causing emotional distress as it was for me, then reevaluate and change. You still have one thing that is the most important to any portfolio - TIME. You are 22 and at your age you are supposed to take risks because you perceivably have more time to recover on losses. It is only through failure that we learn some of life’s more valuable lessons. It’s been rough on all of us small investors but you are still in the game. This is typical for daytraders. I've been trading on an off since the mid 1990s.. I've made and lost many accounts. Short term trading has about the same returns at gambling. When it works, you're a genius... but then it stops working But its fun.. and that's why we do it.. but what you wrote above is the normal pattern. And it will happen again. Its gambling. I lost 2/3rds of my trading account when I started shorting in December. 20k in losses. It’s gonna suck really hard for like 2 weeks, and then it’s gonna get better. I viewed my blow out as a learning experience as I didn’t obey my stop loss and exit strategies. $CRIS. ;( now I’m working on being a bull and trying to build up a new account. For what it's worth bud.. Money isn't shit unless it brings you something that lasts. Extract the seed of ""learning"" from this event and your money was spent on value (yes expensive) but REAL VALUE none-the-less. Seriously, you are YOUNG and even though it seems like it now... I PROMISE YOU in the grand Scheme of Things that amount of money was NOTHING! You're smart for reflecting back like this and being honest with yourself, I can tell you have what it takes (as long as you apply discipline) to be successful at whatever you want to do. If trading is still something you want to do then embrace reading and learning and keep on keeping on, you still have over $2k and you could turn this around with some patience, discipline and controlling your mind and emotions. I took a $30k+ loss in 2017 that I NEVER THOUGHT I would bounce back from (financially or mentally).. I did. So can you brother! You’re 22. Come on man. I’m in almost the same boat. Been trading for a few years and started high risk investments early in the pandemic. Everything went great, turned 30k > 80k and then rode it back down in September / October to about 15k. Recovered to 40k and lost all that again and more in February / March. I need a break and I think that’s healthy. I have mostly just safe investments right now being held. Need to re-evaluate my strategy and how I’m willing to mitigate risk. Also need to cool off and be okay “not being in the game”. If I had just sat out for the last month, I’d be probably 30k richer. Hey bro, we have all been there. My father had $1.5M in a 401k that dropped to $15K in about a month due to risky bets just prior to the market crash. I warned him and warned him.... now I support him in his retirement.... life is tough, but just remember your health is the best investment you can really have... Also, consider that it's just money. Money comes and goes ... I know about that weight you talk about.... Having made decisions on who lives and who dies is similar. I made some of those over the last few decades in combat and Without going into details, I had to make the call on who got a MEDEVAC bird and who had to self-EVAC during critical massive operations... who gets close air support and who gets nothing... who gets a reaper and who gets the shit mission into a one-way valley know for mega-IEDs.... this was daily during the fighting season... now it keeps me up almost ever night, when I ask myself... did I do everything I could... I think so, but I will never know so. Luckily you’re young. You’ll get it back. Listen to all the stories of great investors who have been through the same thing. Learn from your mistakes. You’re still only 22, my dude. Most of your peers have $0 in their trading account. Sucks about the $30k, but you’re still in a good spot. Now you know a little better though. Keep building that account up, but maybe try to buy and hold and take advantage of the fact you have decades ahead of you to let your stocks grow. If you want to grow your account quicker in the short term, I’d recommend a side hustle or something that helps you deposit more funds. First off, like many others have said. You're young, and can recover from this. I'd suggest take a long break from trading at least a month to let the mind relax and put it into perspective. Then would highly suggest reading up on money management of trading and learning to stick to set risk, a strict daily loss limit etc. And ditch the habit of overleveraging by averaging down a losing trade, or doubling down, the sooner the better. While on break or until you venture again on trading. Some links that may be helpful to read or put into perspective. gl. A few old threads on elitetrader on losses ([1](https://www.elitetrader.com/et/threads/what-is-the-worst-one-day-loss-you-ever-had.74408/), [2](https://www.elitetrader.com/et/threads/ive-lost-400k-the-last-2-months-im-quitting.71919/)) ([""Appreciating the Risk of Ruin""](http://m.cdn.blog.hu/vi/vilagbagoly/nonimage/risk_of_ruin_2.pdf)) I lost 140k last year on Intel call options right when they tanked hard on poor outlooks for their fabs. (i sometime summer/fall of last year) I've never made 140k in my life doing any sort of job, I didn't tell my wife we were broke, I just made up excuses or dodged her inquiries about like, buying something nice. Over the next 6 months I turned the 5k-ish I had left into about 84k. It was hard and painful, and mentally straining but i'm glad I learned the hard way. I became much more disciplined and hardened with stop losses, managing risk and really thinking things through before pulling the trigger on anything. I'm 38, and I recovered pretty quickly although i still have some ways to go to make up for the loss. You're 22, you'll be alright. You’re fine honey, please don’t beat yourself up for it. With 2.6k you’ll grow that into 100k and you’ll remember when you lost that 50k and maybe you’ll even think “I’d have 150k right now if it weren’t for that time..” but when that time comes remember that your hardship, your adversity, your climb from 2k to 100k+ made you mentally stronger and resilient. And that vindication can’t be bought. Whatever you make from now on has a story behind it. When you tell people in the future you have X amount of money you remember to tell them that you lost 50k at one point and raised it all up again. That’s success. Learning from your mistakes. We all lose money. It’s the cost of playing the game. Rub some dirt on it and get back in. Just remember to trade without emotion. You’re trying to be green. Not trying to win back losses. If you’re making decisions while looking at your losses then you should take a break from trading. As for the depression I would suggest going offline for a week or so and detox the toxicity that comes from all social media. Spend time with friends and family and remind yourself of the things that are truly important in life beyond the internet and money. If you start thinking anything really dark look for pro help right away. As for investing I would suggest going back to basics, use a SIM to test your strategy and test your ability to stick to the strategy. Once you can see consistent results using your plan you go back to the real deal and work on recovering one day at a time. Remember you're not alone and many people are in the same spot you are in right now. Learn from your mistakes and move forward learning from these mistakes. Listen to big bro that was your age near the bottom. I graduated high school in 2007. I’ve noticed so much overconfidence from people in your generation and that got the best of you. You put way too much in for someone with your amount of knowledge and than the gambling brain chemicals whooped your ass too. The good news is that you are only 22. Your will continue to receive get kicked around until you learn. On the upside, you made it through what so many in your generation will undoubtably go through at some point. Some of your peers will refuse to believe in a bull market because they have never lived through it but you will live to see them lose everything a couple weeks after you pulled out because after losing so much at one time you learned to be cautious. As far as making your money back, put would you have left into a diversified group of etfs (don’t forget bonds) let someone else do the heavy lifting for you. Pay attention to how the market effects your holdings. Balance and diversity is key. Watch how the “economic” weather effects the value of these holdings and read everything you can. You will come up from your low. At 22 I didn’t see myself as “just a kid” but give yourself a break, your still just a kid. Failure is how we learn. First thing is anyone who would rub it in is not worth reading/listening to. Ignore the trolls. Next, you have the fortune of having some wise grandmas (internet strangers at that) , giving you words of wisdom. Looking at the replies here, a lot of people took the time to post positive messages. This is the best of reddit right here! You are so far ahead of the average 22 year old that you could be described as having an ""unfair advantage"", and of course I'm joking slightly, but really, 37K at age 22 is really impressive. I don't know what your current job is, but taking a break, de-stressing, and focusing on saving, you could have your account funded back up to a decent level quite soon. Whatever you do, don't blow the remaining funds on high risk trades. If you can stomach smaller size trades, e.g. you were trading 1,000 shares of a 27 USD stock, now trade 100 shares, then that is what I would do, however your best bet is probably a break to recuperate and get your head back in the game. We all have our bad patches brother. More power to you! learn when it is time to stop. I lost more than 30,000 USD in trading bitcoin and other crypto. Realized that it is not for me and the sharks are too big for me to achieve anything. Before i could lose anymore, I quit and started investing. Grown my money from 10,000 USD to 100k. peace of mind. Dude it happens. You learn nothing in life from winning. Examine your failures, minimize your victories (but be grateful for them). If you do this, you'll be an amazing person at the end. And probably pretty successful, to boot. Brah, I took a 40k penalty today for pulling out of a trading contract today so I know the pain your feeling. I drink when I am happy and eat ice cream on real bad days. I had a huge hot fudge sundae today. I am a beginning day trader also. But I trade in crypto. The volatility is how I make money not from skills. I have about the same account as you in my learning account. You could begin to build your account back and your self esteem. You can make it back. Take your losses, buck up. Whining about it won't bring it back. Educate yourself on day trading. I started the same time you did and I'm down also after a great start. But I started very slow with no large money. Everytime I saw a red candle on the chart I found myself second guessing myself. It really takes time to build confidence. No one, and I mean NO ONE is always a winner. Don't beat yourself up take that energy and find solutions.. you'll be ok. All the opportunity cost and regret hurts no doubt, but if you already had 37k at the age of 22 you must have something good going on for yourself, otherwise idk how you managed that. When I was 22 I was happy if my account even had a comma in it. I’d suggest taking a break from investing for awhile, then if you decide you want to start again go for very low risk trades, and gradually increase your risk if you’re successful. Buy low, sell high Hedge Magic sauce recipes on YouTube. https://www.youtube.com/results?search\_query=how+to+make+magic+sauce Be grateful. You still have: health, wealth & youth Listen to (young) grandma here. I am in my 50's. It has taken years to get myself straight financially. Divorce, bad decisions, etc. You are very young. Most people your age don't have $500 to their name, much less a couple of thousand. It sucks, take the L and learn. Also, don't go for fast money. High reward ONLY comes from high risk. Ask me how I know... It might feel like you're done, but you are just beginning! Many people make $50,000 mistakes. Divorce, drunk driving, criminal offenses. You lost some money. You still have your good name and your only 22. This will pass. There is no making up your losses. You may be able to learn to make future profits. You might be better off in etfs. Dollar cost average for the long term. You have hopefully many years to recoup your losses. I'm sick from losses this month too. $30g. Keep your head up and take this a the cost of financial education. Learn about limiting loss. Good luck. Stay positive anyway. At least you can still choose to be happy. Or you can be sad and broke it's a choice. I sent you the last award I could afford because of the level of wisdom this contains, to make this post more visible to those who need to hear it. Your self worth is determined by your own ability to live yourself. Nothing more, nothing less. Your children and grandchildren are lucky to have you in their lives, as everyone needs a teacher. That being said, I feel the need to remind you (probably unnecessarily) that they have things to teach you as well. As Frank Zappa said, ""a mind is like a parachute, in that it only works if it is open"". Bets comment ever! Education is expensive. I will remember that! 50 years old man. Listen to her she knows. Ive lost 10 times that in bad business. You need to risk it to make it. Learn... do better. TandTice - Wise words. Equally, have had a lot of cash and also only $80 in a checking account with 4 additional mouths to feed. Money is a means, not and end! Why is grandma always right :') May Satoshi bless you grandma! You sir A+ This lady is wise beyond her years \^ man i am saving this post. I will keep this advice man until I need it. The thing is he probably never learned Advice, the first time you double your money, so for you it would’ve been at 16k, pull back your original investment so you’re playing with house money. At the very worst at that point you have a net of 0 If you 4x your investment and don’t liquidate enough to cover your cost basis....I don’t know what to say. My condolences and I hope you make better decisions in the future. How did you get it up to 32k in such a short amount of time? This is my situation exactly same amounts too How does one pay taxes when that happens? You retire xxK gains and then its all gone but you still have to pay taxes for your initial gains Appreciate you. Should I trade options now that my capital is small ? I'm so sorry for your loss. When people say it’s “just money” it’s just to help the person feelings No different than if the individual who lost the money said that statement it’s just a “cope” perhaps instead of forex you should look into futures (micros maybe) and possibly cash-settled-options aka index options if you like daytrading options. in addition both of these get 60/40 tax treatment, and futures aren't subject to PDT concerns as they aren't securities, but i think index options are, so PDT applies to them. Guys I was in a similar position before. I took a different approach.. I went to educate myself, graduated economics and went to work on wallstreet with the aim of getting back to market with more knowledge and more skills. Couple of years later, I have found out that most of the big time IB traders didn’t actively trade their own money as much and oftentimes viewed their services as a utility rather than a means of making huge amounts of money in a short amount of time (yes, many will say that IB trading is different to that in HFs but the HFs go bust every quarter and big banks... well they don’t. One of the reasons for it is less apetite for risk). Myself, I stood at a choice of either pursuing my career further and treating trading as a side thing, a way to make some extra money or... quiting my job and utilizing my skills in the market 100%. I decided the former. I am much happier now when I treat trading as a hobby, I’m also much less inclined to take unnecessary risks because I know I have the positive pnl every month from my salary. It’s a strategy I can fully recommend guys, it takes time, I know but I assure you it’s worth it in the long run. Keep educating yourself and get to know the market as it’s, in my opinion, a neccessary tool for survival in the world nowadays. But I would be careful about treating solo trading as a long term career... remember, there are many, many people on internet that will try to scam you into their „lambo in 10 months” day trading strategies but always take it with a grain of salt.. take into account all the risks, realistically and objectively evaluate your chances of success. That’s what I am doing and myself I don’t see many clear „opportunities” in the market. Some will say it’s a bad thing because „opportunites lie everywhere”, some will say „I just can’t look for them”. For me it’s just risk management, I know what’s my risk appetite, I have learned how easy it is for me to lose large sums of money in the market and I know how long I need to work for to regain this money in the real world. I won’t tell you that „money is just money”, maybe because I’m still in my twenties. But I will tell you that, oftentimes, „money = time”. So be wise about how you spend your time, treat it with respect, because time is the most valuable and the most incredible thing we possess. With enough time and dedication you can get back any money you lose. Just learn from your actions and tbh... remember daytrading isn’t as sweet as many make it to be. There is a good reason for why many finance professionals don’t actively trade in the market. Many prefer much more conservative investment strategies with much less risk exposure than „putting your money to work” based on technicals and stuff some internet gurus funnel to the public for youtube views money. Stay strong, think of the longterm and what the guy said, don’t tell your friends and family about the lossess, that’s your burden now, suck it up, forget about it and move on. That’s what worked for me. Well said grasshopper. You have learned a lot at age 25. Happy for you to gain wisdom at an early age. Much better to master the skills and discipline of risk management earlier rather than later. Speaking from experience, had I done that I would have saved millions. Along the lines of strategy and instrument, for anyone interested, I'm learning to scalp the ES futures using a 2000 tick chart. Going well so far in sim. There are a few basic set-ups and I maybe take 3 trades a day tops being very picky, but feel confident that with more screen time I'll be able to be consistently profitable. I use Ninja Trader, $500 required for one contract, each contract $50 a point with 4 ticks per point. I only scalp for one point. The ES is awesome because it's 1. incredibly liquid 2. prints pretty consistent price action 3. no pdt. The setups I take (2nd entry long/ short, failed 2nd entry long/ short aka traps, and lower high/ higher low) are based off of PATS trading method - he does chart reviews on YouTube every day and posts trade examples. His manual is so-so. Day One Traders, based off of PATS, also on YouTube, got me started and their course was really helpful, kinda pricey though. S0lzz on YouTube posts awesome daily trade footage, ByebyeMoney also has solid content. I'm in the PATS discord, cool community/ good resource while trading. Anyway, highly highly recommend scalping ES using the 2000 tick and 2el, 2es, f2el, f2es, hl, lh setups. Pretty straight forward, hardest part is being patient and picky. Since you mention about the forex. i just wan to ask you regarding to it. is it easier than trading the regular stock? Can I dm you also? I’m in a similar position Dude neither of you should be trading, you are just gambling. If you have debt and money, pay the debt no matter what. Interests on debt will eat up your profits and accumulate over time. Can you be me mentor That's the trader I was. I was good at choosing tickers but when the stock go up I wasn't educated enough to take my profits and go and vice versa, greed also. Those made of me a bag holder. Obv the market now isn't for swing trading which sucks having to scalp with my small capital without confidence the 20 bucks now means something in my account so can't risk shit I’m another person who started with too much money and too little knowledge, and tried to put way too much into one position at a time because I thought it would keep going up and I’d double my money the way I did the first or second time I got lucky. You really just have to take the massive losses as a learning experience to motivate you to get better and learn more. And so far I’ve finally started making it back in a satisfying and more consistent way by just selling all the bricks I was holding to accept the loss, and use the capital on much safer and smaller swing trades. Now understanding the “game” better from both research and experience. Of course there’s still so much I don’t know, and I’m far from ready to touch options. But it feels good to make back even small amounts when it finally feels like you have noticeably improved your tactics. Thanks man. It feels definitely harder trading now since I had the luxury of large capital which generates small profits conveniently, Shame I'm just appreciating those just now. Market really humbled my ASS. a promising stock? He just made 50k disappear in 2 months. Yeah if he is down to $2.6k and isn't bag holding anything that means he kept trading and cutting his money down to $2.6k, which is depressing. It feels like you're always losing. The thing to thing about is that if you are trading in a down market you are going to keep losing. But obviously he built it up to $50k in the bullish time frame. He is going to have to wait for that time again because you can't force trades in the down market. Head over to r/superstonk Put it in GME and you will be worth circa $2.4bn within a few months Hodl hodl Thanks for sharing appreciate you Was this back in 08-09? Housing market has been printing cash the last decade and even more so the last 18 months... How do you manage to lose money in real estate? Mind sharing? I’ve always been under the impression that if you buy in a good area and hold you will always be ok You are an inspiration Definitely. Risk management is above all. I'll make sure I don't blow up again. Holding overnight the past weeks fucked me in this market. Thank you Forgot to mention Greed is a beast There is never enough When you start thinking you're hot shit again Humbled yourself Exactly, when I was in this losing streak I took time off trading to learn more and become a better trader. This is not going to solve everything but it is going to empower you to make better decisions. Take time off to reoup your thoughts, take some classes, and start again, it is possible. Wait for things to get bullish again. Or continue watching the market for the bullish stocks only. Glad somebody asked it, I hate these posts though so I’m biased. This means a lot man. It's unbelievable what It can do to you mentally. You're right in taking a break seems I'm not able to daytrade clearly at my condition Thanks man:) Sorry, how do you know you're a good trader with losing so much money. Or is that like 5% of your portfolio. It sounds like something a bad trader with a terrible risk management would go through. That’s nice. What about. 100k? 400 a day is excellent. That’s 0.4% per day. Those kinds of equity moves are predictable, since most major companies move more than 1% a day in terms of range. But direction is the key. People have taken $10000 to more than 5 million into two years. It’s possible. Easy, even. A mouse click to accept a contract takes less than 5 calories, you just need to be correct. People have made 5 more than 5% a week compounding. 0.4% daily growth is excellent. Sure. Just requires a quality strategy. This advice is horrific for a guy who just lost 50g. $100 a day on $2k funds will take very aggressive moves that are certainly going to cause him to lose from chasing. [deleted] Considering they threw it away I’m going to guess it wasn’t earned or they’re a programmer fresh out. Definitely handed to, as of last year they were looking for headphones with a $400 ""budget"".. There really are just two classes in this world Typically people finish a 2-year college or 4-year uni at age 20 or 21-22 respectively. Work a year or two while living at home. Its possible to save that much lmao. I think you might be best investing in a cash emergency fund before an investment fund first, for solid financial fundamentals. I would also suggest finding a job that excites you more. You are young, and have time to grow money. Wish you the best. Dude- you’re gambling, not investing. These platforms and marketing have made people think that glamorous lifestyle is just a click away. Stop chasing your losses. This is the worst advice telling him that, not everyone is going to have that type of luck. If you can’t turn 2K to 50k by years end then study on what stopped you from getting there. when my account hit \~11-10k I switched to options but what did I expect with my poor risk management that I didn't fix. But options made it quicker.. I switched options when I got to 10k. before that I just went very heavy on tickers that had possible cataylsts some were good, some generated small profit but didn't take it which ended by me carrying the bag.. I found myself not choosing a bad trade but didn't exit when I needed to or had a stop loss Its a raise from 39% to 43% for people who make over a million dollars a year. Not really an everyday person kind of problem? >Ask me how I know How? hehehe, I'm sure I know the answer, I've made my share of mistakes and I still get very frustrated when I see my portfolio going down Great answer. Too many people now a days are looking for the overnight path to becoming a millionaire. If you took this money and put them in solid blue chip stocks for long term say 15-30 years you would be writing the opposite post of this. Don’t worry about the money you just lost, it will come back. Just take what you did as lessons and stick to long term/less risky plays. Am I the only person on this website who isn’t a grandma needed to hear this myself Thank you! I absolutely agree with you and Frank Zappa! Learning every day. :) I don't know if it could be beyond my years but Thank you. :) I think living through a lot of hard losses in life teaches you what is really important. And how to get up and start again. Yeah I’ve progressively pulled out what I’ve earned so even if I lost everything, I’d still technically have taken in profit what I originally started with. That said, your idea is good. I’ll be doing that next! Yeah I started doing something similar recently. I’m not doing day trading yet mostly swing / long term investments. I’ll buy into a position. Sell at my target. Keep 1-2 tails as investments. Then I only go into the next trade with my initial investment. I keep the long positions mostly because apparently the stocks I was picking to swing were real big winners right after I stopped trading them. Tesla, Twitter, Nike, nvidia and many more all exploded less than a week after I decided to sell all my positions. If I had kept just 2 or 3 Tesla stocks my profits would have doubled from the 6 months I spent swing trading it. Elon musks Tweets made me a lot of money and when he got In trouble with the sec I saw it as time to move on. No one anticipates on just losing it all, also no one is perfect and knows the correct financial decisions to make, ESPECIALLY in the stock market It was a lesson learned, but don’t act like people have an inherent “If 4x investment, liquidate cost basis” programmed into their risk management system Yeah it seems weird to me that you could lose so much money like that. If I had 32k I wouldn’t use more than maybe 2.5k - 5k at a time. This is just basic risk management. Using leverage Do I...? how were you trading? did you look at charts? do any TA? how did you decide your entry points? were you going all in on meme stocks? did you set stop losses? Just buy the stock man. Fuck no. Just buy the stock lmao. > Should I trade no, you should practice and study until you are confident in your PROVEN and TESTED strategy. I think 'just money' is a perspective you develop as you get older. When I was in my 20s, especially my early 20s, I didn't have a lot of money, and I really wanted it. I did ok at work, didn't get married or have kids, and now (mid-late 30s), I just have extra money every month. Money gets easier to come by as you get older, it just subtly happens. And I realise, it doesn't really do that much for me. It doesn't really add much to my life. Maybe if I was materialistic, or someone that loved spending money on life experiences, I'd feel differently, but I don't. I'm thankful to have financial security, but I don't crave excess anymore. When you are young, you have time and energy, but no money. When you're middle aged, you have money and energy, but no time. Then when you're old, you have money and time, but no energy. In the end, you'll probably say it's 'just money' too. That's fair. For me though, and possibly for OP, I have a different perspective on finances based on how I grew up and the life path I'm on. It's more of an essential and very exhaustible resource, and the market is built to extract it from those don't know much and are sucked in at the prospect of quick returns on investments in hopes of solving a lot of life's problems. Obviously it is a story that repeats for many many people, and it's most similar to going to a casino. The difference is that in the market, you expect to make money, so when you inevitably lose it, it hurts a lot more. It doesn't necessarily mean any one person is stupid or a failure for losing that much, because we're all only human and stupid mistakes happen, sometimes big ones. Thankfully the knowledge exists for someone to become profitable and to redeem themselves, which is an eventual goal and a heavy weight dragged by people who have lost that much to the market. This is a perfect example of the learning process for trading lol, I didn't know about the 60/40 tax treatment for futures. Definitely am going to see how my strategies can be applied here, thank you. Thanks! I believe it, I've felt that sting of paying a good chunk of tuition to the market. I think what may save me for my future is trying to be humble and taking the time I need to truly learn. One day it'll pay off, doesn't seem like it can be forced. Muscling through the market just won't work. One day I'll learn how to flow with it. Every market has its challenges and edges. Forex has high liquidity, you can trade almost all hours of the day, you have high leverage, plenty of different pairs to trade, and lots of free news info. It fits my situation the best which is why I'm planning to spend time learning how to trade it successfully. Statistically, I think forex has one of the highest failure rates, so I wouldn't say it's easier, but it may be the market that fits you best, and at the end of the day that's what you want to find. The institute of Trading and Portfolio Management teach forex as the third tier of learning as a finance professional. My interpretation is that they see it as MORE difficult than the stock market to be consistently profitable. However, there is a different balance of fundamental and technical analysis in forex, and this suits some people better. It is certainly worth taking time to explore. Forex and futures are considered more difficult Sure, go ahead. Initially, yeah, but that's part of the learning process. Literally everybody that starts off is gambling until they can define an edge, and you can't do that without paying some tuition. It's only a mistake if you never learn from it, and for me, that mistake is fuel to trade properly. Just throwing out a ""you're gambling"" at anyone who makes a mistake, admits it, and expresses a drive and a plan to improve, doesn't show much understanding of the process. This is true, but consider also that some people (aka me) have so much debt that losing another $30k honestly doesn't make a big difference in the grand scheme of things. I would never advocate risking more than you can afford to lose, but if you can afford to play with a few thousand, and you figure out a strategy that works for you, it could really be worth it, where the gains could outpace the interest if you learn how to do well. The market is a path to wealth that makes it possible, theoretically, to pay it all off sooner than the projected 15, 20, 25 years, etc. I personally would rather try educating myself and at least trying to make more, because the risk of losing 10% more than I owe already is worth the potential reward of financial independence. Lol thanks for asking but I don't make anywhere near enough money to qualify as a mentor [deleted] I made 70k disappear in 30days lol but it’s still in the stock Tesla apple coinbase I was flipping houses, it was my second house. It was on the water so it was nice but the area was desired but also hard with comps. So the first house I did was under contract in 2 days and this one was very similar but took awhile to sell. I was still learning. If I didn’t try to flip it tho I probably wouldn’t have lost money. But basically after selling I had that all in cash and then the stock market crashed so it was somewhat lucky. \-7% + -3% + -4% ..etc That tape is hard and stop loses are too predictable. But yes much room to improve. When Yankees lose in a streak they dont call them bad ... loses are part of my normal trading days and swings. A bad streak doesnt mean i will not be in the top a the end of the season. I completely agree, I can't believe that advice is getting upvoted i have a $450 account and if i make $5 a day i am happy, people rebuilding should be aiming for that 1% to 2% compounded every trading day. that is a good build. STFU I stared with $3k funds and am able to average $50-$100 a day in multiple small trades, I’ve had losses too but I limit my daily loss to $50, if I lose $50 I stop trading for the day, I don’t chase, it’s about controlling emotions and setting your daily loss limits lol...did you even look into it before giving your answer or are you just saying don't invest bc it's an otc......give it one year, this will be $5. It already ran from $.02-$.80s and they are closing their merger with helio lending next week. Will be bigger than humble and make a move like alpp. look at its outstanding shares and float...pretty fricken phenomenal for movement. Sure it is, I had 5 times as much when I was 22. I'm not asking because I think it's impossible. The fact that you are basing it solely on luck means you should give up too. People want to day trade but don’t want to put in the research, and the work ethic needed to be successful in ANY career. They think it’s a easy way to make good money and it truly isn’t (easy). I spend more fucking time reading and researching between 5pm-2am than my 8-5pm job requires. If you trade and blame a lack of success on luck, than go play the powerball instead. -96.5% and trading based on fear goes hand in hand. What tickers are we talking about if I may ask? Sometimes its better just to hold and average down. I know this is the daytrading subreddit but if you dont use stop losses this could sometimes be the better option. If you still have the shares you can try covered calls to start eating that loss. Keep your head up! True, it was the immediate impact it had. The market is looking for any kind of catalyst and it got one yesterday. Plenty in trading, but when I was OP's age I was already in prison for ""easy money."" At least he still has his freedom :) This is great advice. I have my ""real"" money elsewhere and that is the bulk of my net worth. Anything I trade pennies, forex or crypto with is money I can afford to lose. Gambling money, basically. Someone told me to get into Safemoon a few days ago, they had already quadrupled their money this week. I bought in at the top and I am down 50%. But this purchase was like a slot machine pull, high risk, potentially high reward. That’s what I always do, I generally pull my starting investments and then make baselines for when to take profit. So for me I’ll have let’s say 5k to start, at 10k I’ll pull 5 back out. Then I’ll get to 10 again, go back to a baseline of 8, double again etc. It helps me take some profit so it feels more rewarding and allows me to treat myself every once in a while with a vacation or something, while also building my portfolio. Everyone does it differently, but I like my methods I have 3 portfolios, one is long term with holdings like apple, google, etc. companies that I know for a fact will still be around in 10 years, a swing, which is my most used, every monday I buy and set a sell target, if it doesn’t get there that week I hold onto it, but I mean to get rid of them soon. And day trading I barely use, but sometimes if something starts shooting up Ill buy and then sell it for a small quick gain. It helps me to keep track of everything having multiple portfolios True, but, that’s why it’s important to plan for worst case scenarios. I guess it all comes down to risk tolerance. Feels really bad when you hit that 3.999x investment and forget to pull out Because I was an idiot and an inexperienced trader? I've been doing about 2k trades and whittled my account down about 50% over the past few months. Stocks are shit, gonna stick to crypto and forex now. Care to elaborate? Lol, ???? Didn't set stop losses thats the one thing I regret the most. I fooled my self by saying ill set a ""mental stop"" Bingo. Purchasing stocks = investing. Purchasing options = gambling. well said. > When you are young, you have time and energy, but no money. When you're middle aged, you have money and energy, but no time. Then when you're old, you have money and time, but no energy. In the end, you'll probably say it's 'just money' too. I love that, great words, thank you. The saying ""money only matters when you don't have any"" seems appropriate here. Sage statement brother. Bravo, you got it 💯 Middleaged guy here. Got almost no money to my name, but clear purpose and goals. That’s turned out to be more useful when it comes to happiness and fulfillment. Priorities change, but wanting to be happy seems universal. Older people just see the value in things that have no cost. That’s why they say money isnt important. You're right. especially now when the market is crap it's very hard to earn back some confidence, but what you're doing with the learning I hope it'll get you back stronger, it is a must to change the mindset completely.. hope I can do that soon Margin requirements for the normal contracts and minis are really high. You should check into the micros. The market will always be there. And the top lesson for all of us is that the market will be there and it will outlast us. We learn many times the hard way. The classic lessons of the masters that very few actually learn. We need to think like Warren Buffett. Did warren Buffett ever day trade stocks? I don’t think so! Yeah, its true..Thank you and good luck! Cool.. thank you.. I'll try but not now.. Ok ! CTXR better fuckin pop soon, i bought 4500 shares at like 2.60 a couple months ago in a very rare (for me) longer term play. Getting mighty sick of looking at -40% all the time hey, in a situation similar to op right now and looking to start swing/momentum trading instead. wondering if you had advice on finding these tickers (such as CTXR) and what metrics to look at? thanks i am really curious what stock hurt you like that? and why there was no stoploss used.... Coinbase is currently fucking me in the ass. Bought at 398. Jesus, no. Bro don't encourage him to lose more money. insinuating a daily return of 3.6% is insane, I swear some people in this sub are bonkers For the gesture? Idk. At face value it sounds like good advice until you stop and think ab it. Exactly. Under $1000 a $10 return per day would be a good average on the week. yeah total horseshit. If you put all 3,000 on a swing stock trade in the morning you would need that stock to increase by at least 3% on the day each day in order to make $90. I’m not being sarcastic.. you clearly are saying start small and work your way back incrementally. Does have to be $3k you can add to your account and make it $6k. Whatever it is is what it is and there’s no changing that. But you can change your risk management and process slowly working back up. excellent advice 72 U said the wrong answer now be downvoted Why ARE you asking then? Sir you are officially a retard, and not the kind that wallstreet bets praises, you are literally retarded and the fact that you’re telling people to quit makes you look like the biggest piece of shit out there. You were slangin? Yup exactly the stocks that do those crazy numbers in the short amount of time I tend to stay away from. I’m still in my mid 20s and have a lot of extra money to play with so just recently hired a financial advisor. Put 10k into a bunch of solid blue chip stocks a few etfs and a mutual fund for long term growth. He pretty much said we’re going to keep buying when the market corrects itself. So probably just gonna keep dumping him 5-10k at a time when it does that. That sounds good! I’m just struggling with my strategy more than anything. Bad trade after bad trade following the total opposite (a winning streak). Struggling to self analyze what changed!! Mans obvi had a huge risk tolerance hence why he quadrupled his money lol No one likes an “I told you so.” Like OP isn’t feeling shitty enough already. You learn and get better. I zero-ed out my first account too. That you were, my friend. That you were. So I’m being downvoted for stating the obvious, nice. I’m not that experienced either but I know enough to know you don’t throw that much cash around at once. FTX leverage trading. Essentially you put up collateral and are able to trade with more coins than you hold. Gains are bigger...as are the losses. Ya I learned never to do that myself lol You need to setup bracket orders so you have a stop loss automatically in every trade you enter. You think op lost 50k by not gambling lol True. But with so little capital now, and small cap are dead, it's tough af It's all about position sizing. Only purchase options at acceptable levels of loss. Always assume your risk may be fulfilled. They're not my words, but I don't know whose they are Yeah it's pretty awful right now lol. Don't push yourself too hard, it's not worth doing until you feel you can manage it. Learning about this stuff takes a TON of time. I spend literally 6 hours a day average 6 days a week for months at a time, but that's because I have the spare time and motivation after giving myself time to accept my losses. I used HumbledTrader on YouTube to start my journey, and since then I've been able to figure everything else out on my own. Just my recommendation, best of luck to you. I haven’t lost in stock (yet), except misjudging dips and panic sells every once in awhile. It still hit me hard though. I buy and sell a lot of real estates. There were time when I got played by realtors. For an example: I could’ve bought one property at $450K, I was the highest bidder, cash offer, with no condition. But the seller realtor said I was competing with another offer. So I countered offer by a $100K. I found out later that the other offer was significantly lower than mine and I didn’t have to offer that much. So basically that’s $100K POOF! And if you know how rental market works, $100K is a lot if you want to break even on your investment early. My suggestion, from my own experience, is go back to where I get the money to invest in the first place. If I still have that, I can get everything back. Another suggestion is to look back at my unnecessary expense. Maybe I didn’t need that day-offs, vacations, dining outs, etc. Back in the days (I am a smart budget now), when I complied all of those expenses, sometime they even outweighed the loss. Well, if I was willing to lose money on things like that, I am fine with losing on calculated risk. Regardless of this, you are not your gain/loss. Keep that in mind. Once you get back up to green and gaining back: DO NOT ever feel like you are more than you are. If the loss doesn’t define you, gain shouldn’t either. I was in the same mindset and was thinking of quiting day trading recently. What sparked out lately was that I'm just focusing on just one stock. I've learnt the patterns, where you know for sure it won't go down and has a bit of volatility. I got to learn how traders(mostly hedge funds) behave and manipulate and I don't look at charts anymore(though a newbie). I recorded what time algo trading begins and how you can never chase and catch that. My whole perception of this market is it's heavily manipulated, but you can swim if you know where the sharks are and in which waters you are in. I still took a 4k loss this week on a different stock, but that's a learning to me. So, if at all I give advice, try to focus on one stock. 🙏 I hope you can recover some of your funds slowly and eventually be in the green again. But I will say, your statement of “the market is crap” is not a good way to get started in the right direction. It’s not the market’s fault. Once you’ve done your research and have learned a lot more you’ll see that money can be made regardless if the market is going up or down. First thing I would say is to learn to control your emotions when trading. Revenge trading, angry trading, panic selling will usually get you in trouble. It’s happened to many of us. I wish you luck and much success. [deleted] [deleted] Because the loss should be only temporary and it should be a multi bagger in the next 5 years and I got in at a bad time when I shouldn’t have wait you bought in on the first day pump and dump? Also ever heard of a stop loss? Well lol you bought highhhhh No u Half the people in here are trying to peddle some course or book that is complete horseshit. Anyone with a name like ""InvestorMan"" or ""Daytrader89"" Not horse shit, I look for stocks hours before market open, usually under $10 stocks, I buy 100 shares at the right moment BEFORE MARKET OPEN and have had them go up .50 - 1.00 which translates to $50-$100 then I’m out, sometimes I lose, yeah, it’s not probable to win every trade. But I cut my loses and I don’t chase. It’s not rocket science. High volatility in the first 5 mins of market open Gave you a down vote 👎🏾 Because god hates you Because i won’t coddle someone? I could care less who or what anyone thinks of me. If you’re doing something wrong, and won’t learn from your mistake because you can’t help but learn from it and continue fucking yourself over.. and you won’t tell the poor bastarte to stop (Even if it’s for a short period of time to learn educate himself)... than you sir, are the enabler and the one with the shit advice. Nobody goes 8 rounds getting whacked in the face and wins the 9th round doing the same shit strategy they did in a boxing fight. Stealing. I stole hundreds of thousands of dollars. Sounds like you have a good head on your shoulders. I wish I had done things differently in my 20's, but I didn't :) Just a word of warning, some financial advisors are vultures, their interest doesn't always align with yours. Yeah it can be hard to figure out sometimes, but also sometimes it’s not your fault, things can look really good on paper and end up losing, every trader loses sometimes. I’ve been on a losing streak lately too, but that’s why it’s also so important to take profits sometimes. Also, if you can afford to then it’s worth holding until stuff goes back up Quadrupled then crashed to half the original value.... Unrealized gains don’t mean anything except the dopamine rush when you check your account and don’t collect profit due to greed. Show me your Dick, it must be swingin’ large You’re probably being downvoted because you wrongfully assumed that I, an inexperienced trader, had as clear a knowledge of risk management as you do? Ah gotcha. Thanks for sharing. My biggest advice would be to not chase the market, don't keep switching your positions to try and reflect what the market is doing. You'll lose 9/10 times and always be stuck ""catching up"". Look for sectors that are currently flying under the radar and are far undervalued. Markets are cyclical so if you're chasing popular stocks and sectors that are rising, you'll probably be left behind or holding some bags at some point. I know options are very tempting, I've gotten my ass handed to me time and the again getting greedy with options... Don't invest in options unless you are completely fine with losing your entire investment. If you do invest in options, be smart and buy options ITM or close to being ITM. The cheap premiums are attractive on far OTM options, but it's a gamble that usually doesn't pay out. 9/10 far OTM options I pick expire worthless, and I know that risk before purchasing them. Buying deep ITM calls is a smarter option play if you think a stock is going to rise. The price of the option will rise similarly to the underlying, and there is far less risk of being stuck with a worthless option by the time expiration comes around. So this shouldn’t be your day job. Straight up - do not gamble the rest of what you have on options. Let it slowly build now. You learned your lesson, why keep risking it? You’re young - plenty of time for money to mature at a slower pace. Well I heard them from you so i'ma credit you. Thanks /u/dubov :D Yea! I was hearing they would move to FDA early based on a similar company doing so after a far lower success rate really appreciate the reply dude! i like your idea of just going thru a ton of $2-$10 stocks. bound to find something interesting... this motivated me to go out and do more research before monday! best wishes thats fair, i kinda did that too. i am working on the ""stop watching the account"" part right now, cause nothing is moving much for me. I thought one person was the pumper and one was the dumper. And the pumper jobs were taken. I know, it was part of the retard training here. Lol for a $8 stock to go up $1 it would need a 12.5% increase at market open compared to premarket. Again total horseshit or you are delusional. Nice one. Nice fake flexing too broke boi. You’re clearly poor as shit and that’s why you asked lmfao dkm. OP came asking for assistance and you’re being an asshole. Fuck off. Wow. How? Hope you at least enjoyed them before they locked you up. I guess after conviction they seized the money? Or what was left of them. Yes believe me I’ve read a bunch. Luckily these are all blue chip stocks so there all ones that I believe in as well. Not just him telling me to put money down on these unheard of stocks lol Who said anything about unrealized gains? His gains WERE realized from what I gather from the post. He just kept reinvesting the profits and losing and eventually it became the $2.6K. Regardless of all that, we were talking about risk tolerance... and this again proves that his was high as fuck. After the loses I've taken the last week, I'm definitely not showing it for free. I mean it’s common sense, so yeah I assume anyone risking thousands of dollars of hard earned cash would think about what they’re doing. I guess I was wrong. [deleted] I need to focus on setting stops and taking the losses for what they were... better TA is required if I hit a stop loss [deleted] Ok bear with me. But i imagined an old school call of duty 3 campaign intro basic training mission. You have to throw your money at the stock with the ath and its basically a grenade range. Every time you miss and make a profit you hear the little ai shitface say ""looks like you made a profit, try again."" You keep trying and every time that you fall short and make money he just repeats ""looks like you made a profit, try again"" in that awful 2005 script voice that makes you want to just quit the game with the 40s radio in the background. Finally you lose it all. I mean big. And you hit the target all the way up at the ath. Then he just says ""excellent work private, lets move on to the next part of investment training... We may just make an investor out of you yet."" Im so sorry for your loss and dont mean to be insensitive. Trying to be funny. If it helps I’m not up in a single stock out of 13 at the moment. Portfolio is up 132% but market is rough since feb I played $OCGN today... go look at the chart from 6:30am til about 6:55am.... tell me who’s delusional, I bought in at $6.50 (5:30am) and sold at $7.23... 100 shares... $73 gain on that play I think you just don’t know how to day trade and you’re either jealous and/ or inexperienced 😉 In fact had I held the stock all day it peaked at $10.29 at 1:32pm... could have made more but I’m not greedy The assistance is to put his $2k down.... walk away, breathe, come up with a better fucking strategy, and come back different than before.. and if you don’t agree, you’re the retard. He was a banker I did indeed. Cars, money, women, travel, clothes, restaurants, the full ride. It was fun, but the prison, not so much. I don't recommend it :) I’ll send you 1 SafeMoon for it. Will that suffice? ;) As of? Sounds like you don’t know the difference between a DPO and an IPO. Ok here’s what happened for shits and giggles : I set an “in play” alerts. Heard it while I was outside and ran back. OMG I thought I can’t believe I got in under 400. I am like really really smart. Finished my yard work and walked in the house like Scrooge McDuck. I won’t ruin the end for you but it’s not like how I was hoping. I did some of this. I chose to use lower amounts to learn. I was great at picking stocks, just had to learn to be patient. I picked ones that are currently up 10-30%. I just got disappointed by them dropping upon purchase, and sold within a week. Finally, i just pulled out of most positions, and did a great reset. Picked some dividend stock, got a couple future growth, some value, some normalcy stocks, and a spac or two. Since then, I'm up 15% from losing 15%. So it's just a trial. I look at it three times a day now. Maybe four if I hear some news. One thing I did was look at what's firing off premarket, top of the list at 730am. Buy around 8, and sell by 10. No questions, no exceptions. Yeah I left about 30% on the table for some, but i didnt lose 40% on the others. And I can still perform my job great. lol you just look up what stock had the largest premarket movement today? You named a single day. Tell me what your play is tomorrow at 6am. I challenge you. You are talking complete horseshit and you feel like one of those guys who sells a YouTube course or something. lol ok 'investorguy72' who just magically found the largest premarket move of the day as an example of what you did to make money today. I'm sure you are legit making at least 4% per day lol. Close, it came from banks. But I didn't work there. Not trying to be overly cryptic, I just want to keep my account anonymous. It was news at the time. “He” said she was a grandma Burn lol Haha. At least you kept the humor. I guess thats one of things that might help through tough times. Anyway good luck to you and to everyone else. Pls gimme $1000 for clg fees With a name like ""SafeMoon"", how could it go wrong? [deleted] I get up at 2am/3am, watch/ analyze the premarket movers, then based on how it’s moving and any related news as to why it’s moving that’s how I decide what to buy and when to buy.... so before you hit me with FUD, learn to day trade, again it’s not always a win, I lose my fair share, but I know what to look for. Some days I even deem as a non trading day if I don’t like what I see, in that case I’ll let my long term positions only work that day. You’re right to be quiet about it and you make good points to op. It might seem bad shit I lost 20% of my account today but at least you have some cash, freedom and the ability to breathe Our experiences are what forge us into who we become. I have decades to look back on the mistakes and see that there can still be success from early mistakes. The key is to learn and not make the same mistakes(which I have also done!) It says safe, it must be safe!!!! Sweet, thank you. Really hoping this is one of those +100% pops rather than one of those +30% pops, but i kinda doubt it will be. ::taps you on the head:: I know you do. I know you do. Thanks, not trying to derail, just want to help someone that feels like it can't get worse right now. I assure you it can! You should write a book loosely based on your misadventures : ) [deleted] Haha resorting to petty insults..smh.. learn to day trade properly and then come talk to me. 😎👍🏼 Been watching $SYPR all morning since it was in the premarket movers and had an unverified news of a contract with a deep space program, didn’t buy it because I didn’t think it would break out from the low of $3.41, it did had a nice gap up at 8:10am, now it’s floating around $4.20/$4.30, just thought you should know. it’s all about knowing where to look, sorry if I came off like a dick yesterday, all I wanted you to know is that nearly every day there are $50-$100 profitable plays with stocks under $10 😎👍🏼 Also $OCGN ran again today, I didn’t trade it though, didn’t think it would run up again, hit a low of $8.70 and is currently gapping up to $12.45 I have considered it because 5 years after I got out of prison I was dumb enough to have even more misadventures in a completely different type of crime. Yeah, some people have to REALLY learn the hard way(twice!) Im wondering if i should just grab another 4500 shares to bring my average down to like 2.20 from 2.60 Lol posted at noon. K. I believe you hunny. Lol the facts are still $SYPR went from a low of $3.41 at market open to a high of $5.82 within about 3 hours. 100 shares purchased at market open and sold near high point is.... wait for it.... $240..... But I’m delusional? haha yeah ok I know and you were all over it I'm sure. If you read one of the previous comments I said to you specifically that I DIDNT trade it, was just proving a point that there are stocks under $10 nearly every day that can be traded to make $50-$100 Subscribe for more tips and tricks 🤡 HONK HONK"