jerseydoe
jerseydoe Nov 17, 16 4:52 PM

yea but it was my first time about two years ago and i didn't do well because i just learned the basics and thought I had it all figured out

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petwyt1218
1
petwyt1218 Jun 07, 16 7:44 PM

hey you did better than me. I didnt touch the stock all day yesterday or today because the spread was always huge (15-20 cents) and that's not a great sign for volatile stocks. Also even when I saw it at 7 or 8 bucks yesterday I didnt touch it because I thought that was way overextended from the 1s in the morning. Who knew it could go to 15 today?

TechnicalTicker
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TechnicalTicker Jun 07, 16 8:18 PM

@tradeformula remember that pricier stocks can easily move $0.50-$1 like nothing, and a stock like this (bullish) with such move can still keep running. So do not be scared to give it some room to breath and try to look into the big picture and use 5 or 15 min charts to guide you as well :)

Doncematic
1
Doncematic Jun 08, 16 2:07 AM

@TechnicalTicker @timothysykes Awesome trade man! Please, do not let your feeling of a 'good' trade depend on the way it moves after you exit. You came in with a plan, and nailed it, regardless of what the stock did after. If it would have tanked to the 6's, you would have felt great about your exit, right? Point is, you entered with a goal, and took profits which is awesome. I had the same yesterday. Entered GEVO at 0.50, sold at 0.64. My biggest win ever. I really don't care that the stock tou

TechnicalTicker
1
TechnicalTicker Jun 08, 16 12:50 PM

@Doncematic I agree with you, having a plan and executing accordingly is and should be the way to trade. Sure, more money is great but it does not mean you are a better trader. In the beginning, if you can prepare and follow your plan, then you are on your way to become a great trader. I say this because you are learning rule #1 - Cut your losses quickly, and by doing this you will also be learning a skill that comes with time and experience - no emotion.

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Syndicated_Trader35
Syndicated_Trader35 Jun 02, 16 7:25 PM

Sometime cutting losses to quickly can lead to large amounts of lost profits.

TechnicalTicker
TechnicalTicker Jun 02, 16 7:32 PM

@Syndicated_Trader35 "sometimes cutting losses too quickly can lead to large amounts of lost profits" but not cutting them quickly may also lead to very big large losses. In my opinion your NERV trade lost was an exit out of emotion. A stock of that price (or $10 or above) can easily move $1 dollar so cutting it .22 cents from your original entry seems like it was based on emotion rather than let the trade continue with it's bullish pattern.

TechnicalTicker
TechnicalTicker Jun 02, 16 7:34 PM

@Syndicated_Trader35 and though it went $2 up, it could have went south $2 as well, so cutting losses quickly is a better strategy. I rather lose potential profits than lose actual money.

Wrightknight
Wrightknight Jun 03, 16 3:32 PM

That's the thing but being safe and making profits bigger than your losses and you can't go wrong, stick to the plan and don't be greedy.

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TechnicalTicker
TechnicalTicker Jun 01, 16 11:23 PM

@communist_owl you can find success either way, it really comes down to your dedication and perseverance to learn the right techniques and strategies that best suit you as an individual. You can make the same amount of money whether you become a day or swing trader, but that is on you to decide how skilled you want to become on the subject. I hope this helps! If I can help you further, please feel free to reach out to me and I will help you in every way possible.

communist_owl
communist_owl Jun 01, 16 11:29 PM

Thanks! I considered swing trading, but I just really began to mold my day trading strategy... I suppose learning a different strategy is the only key.

SRobertF
SRobertF Jun 01, 16 11:35 PM

its tougher. i work through all market hours. you really have to know your PLAN and STICK to it. Learn your alerts system learn your stop limits and i'm just learning trailing stops to take profits and still have stops for when im not watching. Good Luck.

TechnicalTicker
TechnicalTicker Jun 01, 16 11:39 PM

@communist_owl nothing wrong with a day trading approach, you just need to be more focus and stick to your plan from start to finish. Trial and error is your best way to gain experience, just start with small position size as long as you are comfortable and use hard stops as I am guessing you might not be able to always close them yourself due to your working hours.

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TechnicalTicker
TechnicalTicker May 31, 16 7:57 PM

@MoneyMarak It happens :) It's all part of the game. There are occasions when the trade is going so well, it seems as if nothing can stop it. This is a good this as you have learned the lesson at a still very early stage. Next time, I am sure you will not think twice. Keep it up, you are still green and sky is the limit so just learn move these events, and keep growing as a trader.

Joe_Wall_Street
Joe_Wall_Street May 31, 16 11:58 PM

I'm sure we've all been there before. One thing I do whenever I'm up on a trade like that is set a Trailing Stop on 1/3 or 1/2 of my shares to protect me from me, and then wait to see what happens before unloading the rest.

TechnicalTicker
TechnicalTicker Jun 01, 16 11:36 AM

That is a good way to keep your trading safe. In the beginning it's always a great idea to test and test (trial and error) with minimal size. At times, people score nice wins and assume they know what they are doing until all goes down the drain.

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TechnicalTicker
TechnicalTicker May 30, 16 11:13 PM

@Munkal welcome to the community! Did you just joined? There is no one way I would say since everybody learns differently. Do you have any trading experience? Have you traded before? Are you looking to buy or short stock more often? Are you looking to become a full or part time trader? How much are you looking to put into an account? This will help me better guide you :)

Munkal
Munkal May 30, 16 11:35 PM

the only trading experience i have is jumping into a stock that looked decent just to see how things work. cut losses decently quick but like i said i was more playing around feeling things out. ive seen money is the green but never took it cause i was being dumb clearly. i wanna learn to buy and later on learn the short part of the game later on. i really wouldnt mind becoming a full time. ive worked out of town for the past 6 years and just recently had my first kid. ever since shes been born

TechnicalTicker
TechnicalTicker May 30, 16 11:39 PM

@Munkal would it be okay with you if we chat via Skype as it might easier to communicate?

Goldenboy602
Goldenboy602 May 30, 16 11:41 PM

Focus on one info source at a time. You dont want to overwhelm yourself and not absorb all you can from one source if you're attempting to sponge off of 3 at a time. Finish HTMM dvd then try paper trading and adding more sources of education. If you're new HTMM will be enough to get your started, and bare with it even though it's a bit dry at times. IT's AMAZING

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TechnicalTicker
TechnicalTicker May 29, 16 5:15 PM

Do note - with Interactive Brokers you will have to pay for Live Data and Level 2 but it is very cheap. If I am not mistaken they will void the monthly cost of the Live Data if you traded $30 worth of commission each month and the cost of the Live Data is $16 so even if you did not make the cut, $16 is much better than $90/month.

Madbash
Madbash May 30, 16 10:14 AM

An IB account and a Etrade account seems to be a good combo. IB has great borrows and a nice commission structure, and Etrade often has shares to short that IB does not.

TechnicalTicker
TechnicalTicker May 30, 16 2:25 PM

@Madbash I honestly do not know much about ETRADE, but I have heard great things about them as when it comes to borrows. But if @DrCP has been doing good with Robinhood, he can use IB as his "shorting" account and save on the cost of "per trade" and the monthly platform cost also. Just my thought.

Dr_CP
Dr_CP May 30, 16 3:05 PM

I appreciate the comments guys! I love the free trades that I get with Robinhood, but they don't offer short selling. I may rethink IB. I will have to do some more work to learn their platform. But the same goes for Etrade. I just love the ToS platform a lot. Thank you! I appreciate the insight. It has given me much to think about!

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