@grantpairs Which trading platform do you use?
@grantpairs how much money did you start trading with
For the strategy in question: $10k AUD.
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@grantpairs Hi Grant, just want to connect. I'm new to profit.ly and also trade asx stocks. I'm using a day trading strategy and not looking to hold stocks overnight. My aim is to move in and out of stocks quite quickly but I find with some penny stocks I'm being affected by volume. Is this an issue for you? Do you mainly adopt the same short term strategy or something different?
Hi @jeremysingh. Its always great to hear from other ASX traders. I use a number of strategies, for the trades I have uploaded - that is my discretionary directional trading, predominantly breakouts based of fundamental news catalysts. My universe of stocks is ASX500 so I tend to avoid penny stocks. I am sometimes hit with illiquidity but it is rarely an issue for me given the avoidance of the real tail of the market.
cool. It seems we are adopting two different strategies so I'm always keen to bounce ideas off other people. I tend to stay away from forums like hotcopper as it distorts my view of a stock. Have you used CMC markets before as a broker? I opened an account with NABtrade, big mistake.
Never used CMC, I do use FPmarkets and Open Markets.
Whats wrong with NABtrade?
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See previous post.
Thank you
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@grantpairs Hey Sorry like Many people here i am new, I am looking to get into trading. I have been looking over your profile are you work with penny stocks? i am in the UK and i am 21 i am looking to start trading, do you know what brokers i could use since i am in the UK ? Thank you for your time :)
I trade Australian stocks, not in the UK.
thank you for ur response, do you know any traders that trade in the uk. Just so i know what trading platforms to use.:)
Nope sorry. I do know that IG markets is a UK Based CFD provider which is quite good. However other than that I know nothing of the UK market. I am hoping to one day expand my trading into the Euro markets - so perhaps in 6 months when you have this figured out I can come back to you for help!
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@grantpairs hi, i'm a new here and i'm kinda lost, can you help me pls?
how to start :/
Start learning about different strategies (day trading, swing, systematic, divi stripping, fundamental investing, arb etc). Do systematic forward testing of your ideas and keep real stats to prove you deserve to be in the game and under what conditions your chosen style(s) you deserve to be risking real money.
Just some suggestions. Of course finding other traders to learn things from along the way will help enormously!
thanks buddie :)
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hi @grantpairs how much you start to trade?
I started with $10k in my trading account back in 2013.
How about you @prima99
awesome @grantpairs . I just look for information. I'm a newbi.
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@grantpairs what broker do you use ?
I use a few Australian based brokers.
fpmarkets, openmarkets and CommSec.
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@grantpairs Hi, I am new so I am very curious about everything here. How can you find out what stocks are good? You make moves by information provided by Tim Sykes? (I just purchased silver package). Deeply appreciate your reply, man.
Sorry for the association. But do you think that you can guide me into this world. 'Cause I'm new.
Just keep learning as much as you can through reading and watching the markets and keeping a journal of your trades. TEST your trading strategies and see what works and what works better! Thats my advice...I am no expert!
Ok thank you so much.
Thank you for your time and information. :)
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@grantpairs Hi, I see you have been on a good streak lately and I had a question regarding long trades. I set a stop loss of about 5% each time I'm in a trade and I usually get taken out only to see the stock shoot straight up again. My question is, should I consider sizing in less and taking more of a percentage risk? Thanks in advance!
*Instead, when deciding where to place the stop I would look to find the price where you know that your trade idea has been proved wrong. It may be a good idea to test your changes and see if you are improving by altering your stop placements.
The stop level will in some cases be much more than 5%, but as you say - proper position sizing will ensure risk is kept the same.
@grantpairs That explains everything. I was wondering where the heck you came from. October you say?...
@MotherofHells The uploaded trades start from Around October 2014 yes. Most trades are held between 0-21 days. I plan to upload my trades every month or so when I remember, as I cannot do a direct broker upload this is the only way. Australian brokers are not supported by profit.ly
I use webIress, which unfortunately went down yesterday morning and left me stranded for the opening session! First time in two years that has happened!!!
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