Nice post. It really helps to build the confidence when you hear success stories

@mrsunny Thank you! Don't get me wrong, it's not a lot of money yet and anything could happen but def getting there!

Thanks for the inspiration from another noob!

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I am starting with a small account, between 3K and 5K, and my strategy just starting out is to go for 1 to 3 trades a week, so I think I am going to go with a margin account, because I would rather have the funds available when I see the opportunity than have to wait days for them to clear and hope for another opportunity. This might change as my account size grows, and I might change to a cash account in the future.

Everyone is different and each person has there own special niche type style for trading. All of my accounts are Margin. Got sick of waiting for funds to settle with cash accounts. Having more accounts will give ya more Day trades, the majority of the time I'm not depleting my Day trades. My largest wins percentage is only 6 percent of my trades. I'll make more by focusing in on larger moving plays. Try it.

You could also think of it like this- with a cash account your weekly purchasing power is 6K at most, as I believe it takes 3 days for funds to clear... with a margin account it's 9K, if you were to make 3 trades with 3K. So there is more potential for exponential growth, if you pick the right plays. And I like the idea of multiple brokers, I believe that's what Tim G did when he was just starting out.

@DevastatorX Ya I understand what you mean - I'm not really a fan of trading with the brokers money at this point tho. Only reason I'd consider margin is simply for the shorting ability...

@itsamiracl3 OMG. Wow, thank you soo much.

@novaking you're welcome!! I had one scare and that's all it took when I woke up to my broker saying I owed $25k lol

25k to get out of the PDT? with out it ur broker was no going to let u trade anymore?

Just for future knowledge, it's a five day rolling period for the PDT. it doesn't reset every trading week.So it takes 5 trading days from your last day trade to get out.

Hi @TickerJesus - don't be worried...CNBX is an OTC stock and those don't trade after hours. I believe this happens when market makers adjust their books for the day :)

I hope so. But I am skeptical. I just cant believe I can't find any news. We will see.

@TickerJesus they will "trade" pre-market but that's whats nice about an o/n hold on an OTC is you don't have to worry about it until morning. A quick google search should clear it up :)

Don't worry, it just went back up to the level it was at when the market closed. lol for now anyways

This was indeed a beautiful setup @$6.08. It held support from previous fake out and red candle @2:40ish also held support of last 3 minutes. A solid play at $6.08. And your thesis was good...very solid price action leading to eod. I know the pain of those pullbacks tho man! Lol you get used to them and let them run their course before reacting. You could have survived both...but the pain! Lol

My 2nd trade TBIO...very similar to yours. Eod 10 min to go...2400 @1.10/share. The second I bought it plunged $.12. Before I could think of what to do it began up ticking. 8 minutes later it hit $1.52 and I got out; panting, shaking, sweating, heart rate of a 120. Lol had I been relaxed I'd have noted it finished spiking and continued into a/h where I could have made $400.

Paper trading is good my friend but does nothing for emotions...need skin in the game to learn that side of it.

@JohnnyIN Thank you for sharing your $TBIO trade haha I agree that it is very similar to my trade on $CLD. And I agree with your opinion on Paper Trading. It is good but it does nothing but give you a "somewhat" feel for the real thing. You need to actually trade to work on your profits.

Hi Palmer, wouldn't you take a trade if the volume bar is big but red instead of green? Can you tell us a bit more about you prefer them to be green?

Hi @Palmer , in the case there is 100K volume but the bar is red instead of green. Wouldn't you take that trade? Can you tell us a bit more about why you prefer the bars to be green? Thanks

If the volume bar is red that means the price for that bar closed lower than the open - the bears won the bar. I would like to see a green volume bar because that tells me that the price closed higher than the open = bulls win. It doesn't necessarily mean that price will continue to fail but on big volume I want to see my volume bars green = bulls are in control.

Thanks @Palmer . Thought that my first comment didn't get published because of internet connection.

@itsamiracl3 Yep. I just TOS, Yahoo Finance, Twitter and the chatroom. I'll send you a screenshot of my scanner now.

@itsamiracl3 That's all I need because any more stocks and I'll be overwhelmed. :)

@Chongette32 perfect! :) and thank you for the screenshot - I had mine setup very similar; good to know! :)

@itsamiracl3 No problem. :) You can also add the study filter for unusual volume but it normally comes up with the same stocks as the highest percent gainers