Charles Schwab has got me SCARED TO TRADE .
WTF I don't understand this shit. I login and start cashing in and Charles Schwab put an equity call on account gave me the title of a day trader. What did I do wrong ? I in need of that money I'm in the misery of moving in this hot ass San Diego weather . I'm missing everything. Schwab says I have to have $ 25,000 in my account in order to do any more trading. somebody please help . I need the info to leave Charles Schwab .
So with that said, i will be Practicing-trading in a simulator on DAS-Schwab. to practice execution and understand better the price action. why risk real money and trade under the PDT where you cant really trade to understand better the price action, because of fear of losing the trade. plus to me its just stupid. the sim, if taken seriously can be a game changer BIG time. i think it so, too much money have i already blown out to keep doing the same crap again and again. sykes teachings' are great but, one Big part of it all, comes with the execution in my part. I will try to record from now on, my trades sessions of the simulator so, that i can review always, bad trades or good ones. all of it, to try and learn where is the missing part in my trading that needs to be fixed. So here its how it will be, PART 1 trade to learn execution regardless of winning or losing, it doesn't matter. PART 2, once i learn how to execute properly, i will then look to learn, where my edge is, and like i said, i want to focus on the #5 patterns. PART 3. with 1 and 2 mastered, then challenge myself to grow a fake account. or much rather say, find the CONSISTENCY and try it for 2 months. if all goes well, all i have to do is switch to real money.
How do we verify and track our trades now that TD Ameritrade has switched to Charles Schwab?
Good question!
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Up to this point I've been paper trading, which has been great. It's allowed me to be less reckless, more attuned to what works and what doesn't, and put certain practices in place, but I feel like I need to start putting some skin in the game while also getting accustomed to real orders with the broker, and practicing. Completed section II of Complete Penny Stock Course, along with the 30 day bootcamp, and Challenge Orientation + Homework. Admittedly, I still have a LOT of stuff left to study, but I feel like I've been making good and consistent progress. Complete transparency, I have >$80k in my Schwab account to start, however I'll be pretending as though I have $25k, risking no more than 1% per trade.
*Month Recap: Another milestone in the books! I’m officially over PDT! The month started out pretty well then took a sharp decline due to unforeseen circumstances (Wifi down), which, from what it sounded like, came at a good time as the market screamed to the downside from worries on the new Covid variant. Momentum, volatility, and volume have all been super low or even non existent it seems in OTCs. Another big thing to note for my future trading would be that I’ll be switching brokers from Schwab to Fidelity as Schwab will now charge $6.95 per OTC transaction. In light of this I will also be switching from a cash account to a margin account, due to PDT now realized. Month ended pretty well despite only having 3 trading days the last week and a half. Gain loss analyzer shows I’m still trading in my sweet spot. I’ll be really missing this for future recaps and personal accountability. I’m posting my YTD chart via Schwab as I’ll be no longer using its features. Still on the sidelines for now, waiting for my transfer to Fidelity to go live, which will hopefully be a good decision. Next milestone for me is 50K. LET’S GO!!!
BTW - I *did* manage to import my Schwab acct stats ..... they're just a pain to do because it doesn't accept excel csv files for some crazy reason. You have to hand-create a text style csv file.
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