@Bat yeah man had one a while back, dipbought wasn't doing much sold for a little profit. Then guess what went supernova @130pm sold @ 1240..... Increased to 590%
till the end of that same day I felt sick... Still feel bitter 6plus months ago errrrr
@Jason_Raposo sorry to hear that.. that's the type of play you can lose sleep to... almost like losing a winning lotto ticket
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Got a email from them suppose to be 6.95 commission. There's another rate for those who do the 30 trades a quarter different rates for them as well.
That's what I' talking about
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Thats huge for small accounts.
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Congrats on the wins - Pennystocking Part Deux is a good DVD.
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I posted about this a little while ago and couldn't agree more. No matter how much I studied and as much sense as everything made while studying, my application of the knowledge was shit. Only through practice can you learn how to control your emotions while trading and execute trades intelligently.
I find that actively trading small positions and getting out quickly, even if taking losses, allows me more focus when studying. Winning and losing real money in small amounts helps fuel the research fire. I also think the experience is not linear. "If I know X then I will profit Y". It is both knowledge and trading. "That didn't work x 100 = realization and better trades". I like the saying 'You Earn or You Learn'.
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I think you just get billed the day of the month you originally signed up on. I started on the 13th of last month and my payment for this month came out the 13th
ya i joined today and it renews march 22nd
Perfect thanks a lot, probably should have guessed that's how it works
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It caught my eye as well. Earnings win a week or so ago then fell a bit into a low float anf then came back up again today. Volume is still relatively low but I think if it goes up another day or so it'll attract attention/volume for a nice spike
COOL is another recent chart with almost identical pattern, BCLI as well.
Weekly MA(72) is currently holding down the price action which can be seen on a weekly chart
I also show a BB coming down @ 1.98 so the action might not heat up today. Usually when it breaks to the upside, the potential gain could be larger. However, if it doesn't break the BB to the upside, it will do a head fake and head down, somethig gto consider.
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profit loss for the day or profit loss since you got in the position i think.. use live support on think or swim theyre pretty good
I think it's a loss too, I tried the live chat but I'm not getting a response. Maybe that is because I'm only doing the paper trading right now.
I use the thinkorSwim platform and yes the P/L open is the profit or loss since you got int that position. P/L open is the profit or loss for the current day. Red means your down green means your up. If today is the first day you took a position in the stock then your P/L open, and P/L day will be the same. if you have any other questions about think or swim i would be glad to help out the best i can.
If think or swim was accurate (I've never used it) but mathematically P/L as you describe it is a ratio. you haven't indicated a color of the numbers and P/L are rarely in ratios because a number over one means you are winning and a number under 1 would mean you are losing.
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@Jason_Raposo I just make a screenshot, and save it to a folder on my laptop where I have other screenshots of patterns that worked out and failed.
Lol That explains why it's so clear clarity is awesome, I was thinking you had some expensive camera.
@Jason_Raposo hahahaha, oh yea, I mean I have a $2500 Canon that I use for it LOL JK. I would really suck as a pumper LMAO :P
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From looking at the 1 year chart you should get a good morning panic. Plus it's the first red day with volume decreasing.
Like we said, you banked! Congrats on your profitable mistake!
Good job, always study the past!
Thanks guys - I just got to the part in the Pennystocking Part Deux where Tim is talking about 1st red days. So nice to actually live the trade idea while learning about it.
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Yeah you can burnout i think you might just be tilted
I don't think you can study too much. I used to overthink trades too but it was because I lacked confidence in my skills but after a while when you study enough and know what to look for you become less emotional and more robotic in your process.
@Scott_PaperTrader_legit @Chongette32 Both solid points. I think trying to master too much too fast has played a part in burning me out and losing confidence overall rather than sticking to simple plays I know very well.
@ImBatman Yeah it can if you try to do too much. The hardest thing to master in trading is patience. If you can just focus on the setups you know and wait for them even if it means not trading for a few days. Take small positions and once you have a few green days you'll get your confidence back.
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It's not fees. You'll be flagged as a pattern day trader if you make more than 3 day trades in a 5 business day period and wont be able to make a day trade for 90 days. There are 2 common methods around it. What I'm doing is having 2 different accounts and switching back and forth between them so I don't miss out on too many plays. Or you can get a suretrader account, It's based in the Bahamas and isn't subject to the Pattern day trader rule. The down side is there customer service is such g
garbage. I've heard lots of people having trouble withdrawing money from the accounts with suretrader.
I am using 2 accounts as well.
@ImBatman I used suretrader in thr past. It's just tbr time it takes to receive it is slow
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I know how you feel. A few months a go I stopped trading for a month because I blew through about 2 grand too. I've done paper trading in the past but it's easier to remain calm and not get emotional knowing that the money isn't real. To get started again I made a tiny $500 account to get my confidence back. I have a few grand on hold to start using when I'm completely confident again.
When I was ridin' bulls back in my High School rodeo days I rode hundreds of bulls without any terrible results. But the last one I rode shook me like a rag doll, dumped me and dragged me around the arena. The fear set in and I never rode bulls again. Fear is there for a reson, but fear has no reason. That's why they tell ya when you get bucked off a horse to get right back on. which I always have & at 58 I still ride horses. But I listened to the voice of fear on bulls and never rode another bu
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yah. I should get that DVD. finding and researching stocks is y weakness. Thanks for the tip.
Look for top % gainers..then go through each of them to look for familiar patterns and news. Thats why its very important to watch some/all of Tim's DVDs, they will open your eyes for what to look for. Tim also has a awesome Youtube channel https://www.youtube.com/user/timothysykesdotcom with so much great FREE information.
I'm going through a rough patch myself. Keep studying and taking good notes about what does and doesn't work. Remember it took Tim Gritanni 6 months to start being profitable.
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Stop trading, take smaller and fewer positions and practice papertrading on http://stockstotrade.com
great advice
whats your accnt size?
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How I plan on doing it is to build account equity up to my max limits. End of the month anything over the lmit taken as profit. Estimate tax for the month put that away.
Oh and keep track as you go. I made 400 forex trades last year, I now have to manually type them all in.
@GraniteState I hadn't thought of trying to make quarterly tax payments. That's a great idea. I will definitely work that idea into my plan, thank you!
My thoughts are the same but I like the idea of doing it quarterly.
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