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Palmer
Palmer Jul 15, 17 8:04 AM

Do you have a solid system that you have been trading for a few years that is at least 65 to 70% profitable? Are you finding plays on your own or trading off of chat-room comments? You must be self sufficient 95% of the time and the other 5% being maybe what another trader mentioned. Nothing wrong with that.

Palmer
Palmer Jul 15, 17 8:07 AM

The point is...write down how much things cost you every month and then maybe add another 25% of "just in case" money and then determine what size account you need to mechanically make enough $ month after month after month. A large account is easier to sustain yourself because you can take larger positions and still look for the same 20 to 25 cent move...sounds like Tim? Yup. He can take larger positions but he still maintains the same profit goal.

Palmer
Palmer Jul 15, 17 8:09 AM

Some people trade to supplement income and I think that is what most people do. But, if you are younger late teens or early 20's you are in the better position to do this for a living because you have less responsibility and have more time to learn all of this. Some of us, including myself , are doing this so when we retire from out real jobs our next job, which a lot of people have to do, would be to trade the markets.

Palmer
1
Palmer Jul 15, 17 8:10 AM

It all depends on your current 'life situation' to give ourselves a reality check if we want to trade for a living. It's a lot easier said then done but a LOT has to be taken into account for it to become a reality.

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xbows
1
xbows Jun 26, 17 11:49 AM

crazy with those penny stocks.

dtemple67
1
dtemple67 Jun 26, 17 4:29 PM

Bro, dont beat yourself up. This shit takes years. Ive been a breakeven trader for 2.5 years. You and i got plenty of time to go. But one thing i recommend working on is your risk to reward ratio. If you make 2 times more on a win than a loss, you only need to be right 33% of the time to break even. Making 2 times your loss is easy, and winning more than 33% of the time is plenty doable. Also, dont risk mmore than 1-3% of your account at a time. Risking 100-200$ on a 700$ account is suicide even

colossus123
1
colossus123 Jun 26, 17 4:44 PM

I agree alot with what's being said here. @xbows is right, it's not sustainable. If you look at my history after commissions I am a break even trader. I think it's useful up to a point to at least prove to yourself that you know what you're doing. Once you feel comfortable in your abilities just stop for a while. Relax and save your money to get after it once you have an account size that you feel is necessary.

xbows
1
xbows Jun 26, 17 4:54 PM

And focus on learning one setup at a time until you are comfortable and consistent with it 65% of the time at least. I use a couple of long setups and a couple of short setups. My last 6 trades have been long setups, dip buying or breakouts, and have all been profitable between 1% and 7.5%.

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Skiwi
Skiwi Jun 21, 17 7:04 PM

Yup, it showed up on my screeners also. Sketchy company, always late on their 20F's, and never file any reports. I'm not sure what or where they from, frankly, I don't care, to me it seems like this is enough of a over extended trash to skip details, is it a pump? I dunno I always find these pumps but can't find the pumper, but yea a dump is coming surely. Share with me if you know who the pumper is :)

colossus123
colossus123 Jun 21, 17 7:36 PM

Yeah I couldn't find anything either on what's behind it but as of now my broker has shares to short so just going to keep my eye on it and wait patiently.

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WestSou
WestSou May 17, 17 3:36 AM

hey guys I was just browsing around and here I am. Quick question, if you have a small account and your only allowed 3 day trades in 5 days, how do you manage trading? I feel obligated to only trade and hold at end of market because I have used my day trades already. Any thoughts?

YawnAlot
1
YawnAlot May 17, 17 10:00 PM

@WestSou If u have a decent account size u can do a cash account which has no PDT but does have a 3 day waiting period for ur funds to settle. Another option which isthe one i took, is to open a second broker. I have Etrade and Robinhood. I didnt make one trade today so keep that in mind. Its easy to jump in to a random play and hope it goes up. Discipline is key

Palmer
1
Palmer May 18, 17 8:24 PM

@WestSou focus on earnings winners that are holding gains and are consolidating at support areas and are starting to get volume for a possible breakout...or daily runners holding gains with price and volume surge into the close for an overnight hold to close the next day.

WestSou
WestSou May 18, 17 8:58 PM

ok thanks guys, will do.

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