AoxNoxxide
AoxNoxxide Nov 27, 15 12:56 PM

MACD/RSI is not the end all solution to trading. On Wallstreet there is computer rooms with hundreds of million dollars worth of servers and computers. If it was that simple, those computers would simply filter out and trade the MACD/RSI indicators your describing. You have to have a overall view of everything. Also papertrading is delayed 20 minutes whereas the market is real time. Maybe that has something to do with it.

Tunde1306
Tunde1306 Nov 27, 15 6:25 PM

Try to find better trade entries.You can use your indicators but also look at the momentum of the stock, where does it look like it's heading and how quickly is it heading there. Use these key indicators to determine when you will hop aboard. Sometimes you will see that if you wait for the right time, there seems to be no good entry and you lose interest in trading the stock. Move on to the next, not all setups are good setups.

cgarman
cgarman Nov 27, 15 8:26 PM

Do you look at different time segments, or just 1? 5 min and 30 min 1day. Long term is different.

bvbigbear
bvbigbear Nov 27, 15 8:54 PM

Analyze each of your trades to see where you went wrong and how you can improve. Really take a good, objective look at each one. Try to remove yourself and all bias from the analysis.

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BowlesTrader5
BowlesTrader5 Nov 21, 15 11:44 PM

I can answer this with very few words: Show him Tim Sykes

BowlesTrader5
BowlesTrader5 Nov 21, 15 11:46 PM

If he doesn't believe in them then he clearly doesn't know the potential. If he want to make 5% on bluechips go right ahead, tell him that you want a shot at doing your own thing and that you know what to do and how to do it. It took my dad 2 years to convince him. Now I just opened a profitly account and I had over $1800 verified on my first day. Wont get that with bluechips

Luckytrade
2
Luckytrade Nov 22, 15 8:08 AM

Your dad is a smart man, he is protecting you. Now go work a second job and use the money from it to trade stocks. I know you will hate me for this comment but if you want to trade you will do it.

eldiabloguapo
eldiabloguapo Nov 22, 15 11:00 AM

@Luckytrade @freddymissel - I agree with Luckytrade..If your father doesn't end up giving you the cash, just take your own money from the job and start off just like the rest of us. If others can do it, so can we.

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BowlesTrader5
BowlesTrader5 Nov 21, 15 11:46 PM

Etrade has a great mobile app. I used it to trade on my phone during school

JAY1976
JAY1976 Nov 22, 15 1:47 AM

Growing a small account is the way to go. If you screw up then its no big deal. Cool screen pic

swingtradestock
swingtradestock Nov 22, 15 11:52 AM

I love Robinhood app, I maintain a small amount in it, apart rom it I use IB, merril edge and tradeking. I use these many accounts for various reasons. I definetly like Robine hood if as an mob app. for trading but no website which is con.

swingtradestock
swingtradestock Nov 22, 15 6:58 PM

@Savage Tradeking only for longs but for shorts there are very less to borrow for many low priced stocks. I like IB & robiin hood better.

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bvbigbear
bvbigbear Nov 19, 15 4:46 PM

@Bdavid548 Most likely. I don't use etrade at the moment, but it's a rule across the board in the US. If you use more than one broker, you can do the 3 trades with each, giving you more day trade opportunities.

bvbigbear
1
bvbigbear Nov 19, 15 5:16 PM

@Bdavid548 Yes, but 3 trades is plenty. The top traders make most of their money off a very small percentage of their trades. So if you're doing your homework and trading the plays that are worth trading, 3 will get you by.

bvbigbear
bvbigbear Nov 19, 15 5:21 PM

@Bdavid548 Sorry, yes, 3 day trades. Meaning buy and sell your position in a stock in the same trading day.

911RNtrader
911RNtrader Nov 22, 15 1:53 PM

@Bdavid548 I plan to continue learning to take short positions, these are just some rules that I am going to use. This example only shows that one must be continuously learning and fully engaged when in a position. The PDT rule is for clients that use US brokers.

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woj37
1
woj37 Jan 05, 16 2:45 PM

Thank you for the continued support. Like Tim has stated many time, you can "always go get a paper route, or shovel you neighbors driveway." Well, i think Uber is the equivalent to that of making extra money today. So I've signed up and started Ubering to save up and start up another trading account. I know with what I've learned I can begin to dig myself out of this hole. One Uber ride, then one trade at a time. Gotta stick with it. Thanks for all the support.

kopboy
kopboy Oct 06, 16 10:56 AM

I just read your post and kudos for keeping your head up. How are things these days?

kopboy
kopboy Oct 06, 16 10:58 AM

I've just started a blog for penny stock traders and was thinking whether you would like to write a guest post? Maybe it''ll be soul cleansing and show other traders how hard trading is? Let me know - I hope you are ok with everything after what you went through. The link, if you may be keen to have a look is http://daytradearcade.com

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Lev82
1
Lev82 Oct 28, 15 3:23 PM

I know, I`m new here so need some time to get use to it. thanks :)

bvbigbear
bvbigbear Oct 28, 15 3:38 PM

I'm new to trading and making some beginner mistakes myself. Some advice I have found helpful is, don't trade just to trade, search and research until you find the play that fits your style and makes you comfortable. Plan it out from the start, entry/exit, risk/reward, support/resistance, volumes, all that jazz. Don't go into the trade without having those aspects covered. Also, something I learned during my time in inventory management, don't fall in love with your inventory. If your trade goes

bvbigbear
bvbigbear Oct 28, 15 3:39 PM

* the wrong way, get rid of it quickly. It's not worth holding onto. There will always be another play that comes along.

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dtrades
dtrades Oct 28, 15 8:33 AM

That is a good point. I was thinking about exactly that and I came up with a strategy for practicing good habits. I was thinking that I would start taking random positions on the paper account. Then practice loss management and sizing out.

FancyNancy
FancyNancy Oct 28, 15 8:34 AM

You did way better than me. I,,, still holding and going to sell this am, Lost $1K and couldnt let it go, I get what I deserve not cutting my losses. Holding and praying doesnt work.

dtrades
dtrades Oct 28, 15 8:45 AM

Ouch! Sorry to here that.

bvbigbear
1
bvbigbear Oct 28, 15 12:03 PM

I'm running with a baby account and got into this one without being able to watch it. I had a 60% loser on 43 shares. I'm happy to be getting these mistakes out of the way on very little money. I was too anxious to trade and didn't trust myself. I knew it didn't feel right and still jumped in.

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