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I watched a bunch of YouTube videos and did live trading today. It went ok but I made quite a few errors. Multiple Flatten orders got rejected when I had bracket orders in place. In StreetSmart Edge from Schwab you can get out of all your positions with one click no matter what. I really...

I have been using Schwab for over 10 years. Now they are migrating to the ToS platform after acquiring Ameritrade. Hope to get some tips on ToS. I do day trading on stocks and usually only look at one chart and use the Active Trader tool for trading. Notably the price ladder is a new thing for...

How was your paper trading in the last few weeks? Better than live trading?

If you stare at candles long enough you’ll get a feel of how one candle will move pretty well. That’s a small edge that quick scalpers are using. Nothing new here. The point is no 2 candles are alike. Whatever experts say about candles is just probability.

I day trade tsla. It’s very liquid and the depth is good too. Do you think MMs care about us retail traders at all, market orders or limit orders?

So we’re the medicine? lol

My understanding of “stop hunting” is that the market always seeks liquidity, i.e., where lots of resting orders are present. Even though I am not sure how it happens the reality is it happens more often than one thinks. A market only exists when there are constant transactions or buy/sell...

I am trying to figure out if I am in the way of the MMs or brokers. They will/need to make profits so we better not get in the way as retail traders. Hehe

Now I understand that our market orders are good for MMs. So our brokers and MMs always welcome our market orders. LOL https://www.cmegroup.com/education/courses/trading-and-analysis/market-makers-vs-market-takers.html

I believe the underlying reason is the human nature of loss aversion.

Very interesting discussions here! I have been thinking about this for a while. Assuming I am trading with MMs what do they see and want to do with my (and everyone’s) orders? As retail traders we are definitely at a disadvantage, basically like in a situation where we are exposed and our...

I am also learning to overcome my overtrading problem. On the surface it’s overtrading but underneath it’s actually the lack of an edge to differentiate good trades from all other marginal and bad trades, I think. If true, it requires one to have more time and experience with the market. For...

I never gamble in a casino knowing it’s a losing game but I lost plenty of money in the stock market knowing I may succeed some day.

If different timeframes agree it’s indeed a good confirmation, increasing the probability of a winning trade.

Agreed! However, the issue here is how the 70% failures turn out each time. As I said above you could be stopped out before market goes your way again. You can set a wider stop but again your risk becomes larger too. Therefore, a fading BOs strategy is high probability at 70-80% in theory. The...

What I am saying is that one is still never 100% sure about this BO failure after the 2nd push-up, so a risk needs to be taken for this trade. The probability of a winning trade here is rather unknown beforehand, however the risk is quite well defined. This chart again reveals the difficulty of...

I agree the most useful thing is trading psychology. All technical stuff and trading strategies are good to know but changing all the time, so nothing is definitive about them. Below is a good trading psychology video that I found very useful and correct in the absolute sense - meaning it’s...

I see this is a pretty typical BO failure/fading setup in hindsight. But how do you know for certain in real time? Even after the failed 2nd push-up it still may come back up to pass the highest point. I guess you can use risk management to set a stop at or right above the prior high point.