Received 3 Karmas
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.

Join now or log in to leave a comment
Received 1 Karma
aidan222sharpe
aidan222sharpe Jul 07, 17 1:47 AM

Hey! check my first video lesson on a pattern I trade all the time, I only trade 3 patterns on the long side and they always give me 10%+. I will post the 2 other video lessons soon on the other pattern but I think the one I posted will help you out a lot

aidan222sharpe
aidan222sharpe Jul 07, 17 1:48 AM

its a pattern that occurs a lot with good risk/reward and a clear level of when to cut losses. You will know when the pattern is going to fail usually and you can get out with a small gain or a small loss

spidereyesoup
spidereyesoup Jul 07, 17 8:59 AM

@Khermus Thanks. This is something thats hard for everyone and its a journey that feels as though is taken alone, which seems to make it harder.

Join now or log in to leave a comment
Received 10 Karmas
Nathan_casey
1
Nathan_casey Jun 26, 17 8:51 PM

Only made 285 on a 700 dollar position... lol

VRedd
2
VRedd Jun 26, 17 9:01 PM

Bruh. You just made 40%. The statement should be "Made $285 using only $700"

Emertrader
Emertrader Jun 26, 17 9:15 PM

Good job man , I'm going thru the same process right now ... it took me a while to figure out .

Noble1222
Noble1222 Jun 27, 17 7:37 AM

VRedd - thx for clarifying - I'm going to try to screen shot the line in schwab and post it here.

Join now or log in to leave a comment
DrOzz

@dux Hey man, no stupid ass questions, just letting you know you're the man. Very inspirational. Thanks Brother.

Received 1 Karma
asefporl
asefporl Jun 15, 17 4:08 PM

the questions in this wall arent stupid ass questions

spidereyesoup
1
spidereyesoup Jun 15, 17 6:12 PM

Hehe maybe not stupid but many ask the same stuff over and over again. Thats kinda stupid

Fox_Trader
1
Fox_Trader Jun 17, 17 7:23 PM

All of the questions that are asked can simply be answered by reading all of the posts. I enjoy Steven being on here I just hope he's not run off by being bombarded with questions.

Join now or log in to leave a comment
melbasouni

@dux Hey Dux thanks for sharing your trades man. I actually review your trades when you post them trying to understand your mindset. I can't wait until you post your new trades so i can learn.

dux
3
dux Jun 08, 17 3:52 AM

coming soon at end of this year. i am currently traveling everywhere ;lol

melbasouni
melbasouni Jun 08, 17 12:56 PM

Cool beans I am actually trading so I can work from anywhere and travel. I guess you had the same idea. lol

Join now or log in to leave a comment
Received 23 Karmas
Giants_Slayer
1
Giants_Slayer Jun 07, 17 1:34 PM

but its a lot of hard work and time consuming

Giants_Slayer
1
Giants_Slayer Jun 07, 17 1:35 PM

if you want to work together DM bro so we can finish it faster together

WizeFool
1
WizeFool Jun 07, 17 7:16 PM

@Momo_Trader It's interesting that he says that. I imagine that as he became a more refined trader he has slowed down to 3-4 trades/week. I think shorting as the main play is a no brainer really, they are pumps, or way overextended buying. Shorting the bounce on a pump too, all of these plays put the odds highly in your favor to short.

WizeFool
1
WizeFool Jun 07, 17 7:17 PM

@Momo_Trader I am super busy so working together may not pay off as fast as you or I would like it to, however being accountable for some progress every day wouldn't hurt. I'll have to think about it, but either way I appreciate the offer! :)

Join now or log in to leave a comment
Received 5 Karmas
donebeingpoor
donebeingpoor Apr 25, 17 4:28 PM

Good Luck, you're doing it the right way in my opinion. Lots of unforeseen obstacles which deepens the learning curve jumping in live without experience.

april4
april4 Apr 25, 17 8:57 PM

@GreTa how to get rid of 20 min delay in TOS?

GreTa
GreTa Apr 26, 17 12:37 AM

@april4 In you TOS Platform, click on CHARTS, then go to your upper right hand corner where you see SETUP, click on the WHEEL, then click on APPLICATION SETTINGS, scroll down to SYSTEMS, click on that, and then click on QUOTE SPEED, select REAL TIME (no delay). Try that first.

GreTa
GreTa Apr 26, 17 12:39 AM

@april4 If that doesn't work, call them and ask for Real Time Data on your Paper-Trading Account, they're usually happy to Oblige, but first try the steps above, it will only work if you have a funded TD Ameritrade Account.

Join now or log in to leave a comment
Received 3 Karmas
spidereyesoup
2
spidereyesoup Apr 11, 17 12:35 AM

Have you been paper trading all this time? You have many posts.

AngelTrades
AngelTrades Apr 11, 17 12:08 PM

@spidereyesoup Yes I paper trade but these passed two weeks have been horrible for me to find time to do anything trading wise, since College is a big part of my life. I haven't had time to post. I'm stopping these daily posts for now as I am motivated enough to keep trading without them.

AngelTrades
AngelTrades Apr 11, 17 12:10 PM

@spidereyesoup I used these posts to keep me going foreward but now I'm at enough knowledge of trading that I can continue my journey without them.

AngelTrades
1
AngelTrades Apr 11, 17 12:10 PM

I'll keep posting but only when I make trades or something important happens.

Join now or log in to leave a comment
Received 2 Karmas
bigman
1
bigman Mar 13, 17 11:49 PM

Good point. Even though Tim says to "trade scared" it is important that fear not be one of the leading emotions you trade with. When he says "trade scared", I think what it means is to always be aware of risks, always be prepared for shit hitting the fan, etc. Confidence is important!

friesian
1
friesian Mar 14, 17 7:30 AM

thx for sharing. I think that actually no extreme emotion is good for trading - neither fear nor too much of confidence or expectation. Also Steve Nison talks about it in his book about candle sticks - just started it yesterday.

Join now or log in to leave a comment
Received 3 Karmas
MetalHat
1
MetalHat Feb 26, 17 2:49 PM

Going to order this one to read next. Finishing up "Chart your way to profits" right now. It's a decent book on chart analysis. I'd like to have "Trading in the zone" on my shelf and ready to pick up as soon as I am finished with the other one.

anatomic
1
anatomic Feb 26, 17 5:24 PM

@MetalHat There's an audio book on youtube for it. It's like 8 hours long but it's really good.

JWStocktrading
JWStocktrading Feb 26, 17 6:26 PM

Just started the audible for that book today. Blown away by how much I can relate already just in chapter 1 and 2

Join now or log in to leave a comment
Received 4 Karmas
huperauxano
huperauxano Feb 26, 17 2:02 PM

Put in a LIMIT order not a MARKET order - where you can specify exact number instead of letting brokerage houses screw you on the spread. Welcome to the party!

JWStocktrading
JWStocktrading Feb 26, 17 6:33 PM

Great video! So funny hearing your story. I've got caught up the same ways lol. Don't do market orders. LIMITs ONLY

Deep
1
Deep Feb 26, 17 8:08 PM

good luck man you got yourself a new follower :)

Join now or log in to leave a comment
Received 3 Karmas
spidereyesoup
1
spidereyesoup Feb 26, 17 9:52 AM

I like The Complete Guide to Day Trading by Markus Heitkoetter. Talks a lot about how Important the strategy is you use to trade and has lots of good tips.

captainadjuster
captainadjuster Feb 26, 17 7:13 PM

Thanks guys! I've downloaded "The Complete Guide" and "Trading in the Zone" I'll get them done this week!

spidereyesoup
1
spidereyesoup May 02, 17 12:08 AM

How were they? I recently read Trading in the Zone. That ones the best.

captainadjuster
captainadjuster May 02, 17 1:48 PM

I read Ross Cameron's "How to Day Trade", it was informative and more an instuction book on his strategies than anything else. I'm just starting "The Complete Guide" I find his writing to be a lot less dry. I can't say much more about it yet.

Join now or log in to leave a comment
Received 7 Karmas
kgarcia
kgarcia Feb 25, 17 5:13 PM

Good luck. focus on finding one winning strategy that suits your risks. Some people short some people long. I personally hunt for earnings winners and watch for a morning spike and enter during the pull back or I watch for a morning panic and enter on the first green candle.

Garrick
Garrick Feb 26, 17 11:53 AM

@kgarcia Thanks man. So far I seem to be long biased. However, I want to learn to short.

Join now or log in to leave a comment
combatbob
combatbob Feb 25, 17 10:33 AM

just happen to be watching Trader Checklist #4 talking about same subject. Good info thanks

huperauxano
huperauxano Feb 25, 17 7:34 PM

Another reason to use mental stops is because sometimes the market makers will see your stops and manipulate the stock to capture the stops then move price back. They can't see your stops if they are mental.... We should call them Ninja Stops....

Join now or log in to leave a comment
Received 1 Karma
huperauxano
huperauxano Feb 25, 17 7:29 PM

@harsto on your profit chart looks like you are starting to make it through the wilderness and are seeing more wins than losses. I am close to turning it around - have two trades I am up on and holding over weekend with good covers into morning on Monday so hope to chip away at my losses. We started same time so I'll keep an eye on how you're doing. Good luck this week!

Join now or log in to leave a comment
Bryan3121
Bryan3121 Feb 24, 17 3:17 PM

0.20 cents a share doesn't pay for the commission.

ftmanglona
ftmanglona Feb 24, 17 7:52 PM

with an account being $500. You can make money on it. I wrote a blog about my $SINO trade, i spent $260 for 100 shares and turned those 100 shares into $100. With a $500 account, you HAVE to wait for the PERFECT setup. Wait for an earnings report/contract winner to come out and overnight it if it holds intraday/multiday support.

ftmanglona
ftmanglona Feb 24, 17 7:54 PM

I also made another $100 off 100 shares of $TOPS. With the exact same setup. So it is possible to grow a $500 account.

petwyt1218
petwyt1218 Feb 26, 17 4:10 PM

I use just 500 dollars per trade because I'm still new but I use Robinhood because commisions would kill me. My average trade winning trade is a little over 8% so over 40 dollars, but still. I'd recommend you use Robinhood for now.

Join now or log in to leave a comment
Received 1 Karma
ImBatman
1
ImBatman Feb 24, 17 1:27 PM

I posted about this a little while ago and couldn't agree more. No matter how much I studied and as much sense as everything made while studying, my application of the knowledge was shit. Only through practice can you learn how to control your emotions while trading and execute trades intelligently.

huperauxano
1
huperauxano Feb 24, 17 10:28 PM

I find that actively trading small positions and getting out quickly, even if taking losses, allows me more focus when studying. Winning and losing real money in small amounts helps fuel the research fire. I also think the experience is not linear. "If I know X then I will profit Y". It is both knowledge and trading. "That didn't work x 100 = realization and better trades". I like the saying 'You Earn or You Learn'.

Join now or log in to leave a comment
Received 3 Karmas
spidereyesoup
1
spidereyesoup Feb 24, 17 12:51 PM

Hey man was just wondering if you have any study tips. I feel as though I've been studying a bunch but am now running out of things to study. I want to just focus on applying what I have learned in my trades. I when I do study now I find myself running into the same information over and over again, so Im not sure if I should be looking for more new Info or just drilling what I've got into my head.

AngelTrades
AngelTrades Feb 24, 17 1:42 PM

@spidereyesoup If you honeslty feel that way (I kinda do as well) you should apply that knowledge and trade. You may have the information but nnow you need to repitiously use it so that it becomes second nature.

D_Mo
1
D_Mo Feb 24, 17 1:50 PM

Learn the tools the pros use... try finding stocks, and paper trade then..

AngelTrades
AngelTrades Feb 24, 17 2:49 PM

I'm trying slowly but surely to trade. I'm very happy for weekends because I get to study.

Join now or log in to leave a comment
Received 1 Karma
spidereyesoup
spidereyesoup Feb 24, 17 3:22 PM

I would say watch all the videos that come out from the top traders and track all of Tims and other Top traders trades so you can look for patterns in their trades. That will give you a sense of what they are doing. You need to try to find a trading strategy that works for you so you can then start to improve it.

spidereyesoup
spidereyesoup Feb 24, 17 3:25 PM

easy to say but kinda hard to do since I'm still struggling with finding my own strategy, but it's very important because without it I'm like shooting in the dark. Sometimes it's hard to follow others strategies so for my trying to work Tims strat for myself was kinda tough. hehe anyways good luck and paper trading is the best thing to do. you got that part down

chrisheppner
chrisheppner Mar 02, 17 10:32 AM

@spidereyesoup I don't think I have trouble seeing the move after it's happened, but it's seeing the move before it happens is my issue.

Join now or log in to leave a comment
MiamiReese
1
MiamiReese Feb 17, 17 9:52 AM

Its also worth noting that a buy order is what counts as the trade. Meaning you can scale out of trades and it will count as 1 day trade.

DeeSniper
DeeSniper Feb 17, 17 11:37 PM

ETRADE confimed that PDT Rule ONLY applies to margin accounts. There is no PDT rule for cash accounts.

MiamiReese
1
MiamiReese Feb 18, 17 9:12 AM

You have to wait until the cash settles into your account after each trade for cash accounts and that normally takes 3 business days. Google the "Good Faith Violation".

Join now or log in to leave a comment
Page
of 2