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I once saw a YouTube video about an institutional trading trainer. His point was institutional traders see what we see in the market. They are just better trained and more experienced, and with access to better tools/software and risk management. For example, institutions have dedicated risk...

I’d say more resilience and persistence than determination. It takes 10 years or more for average folks to succeed in trading unless you’re training with pros and do it full time. Even then you still need 2-5 years to make it.

I like this Lance guy. No BS but good mathematical analysis.

No preset bias/prediction in trading. Follow the market action, though be careful of market tricks/traps and changes/reversals.

Schwab has both session (day) PnL and current trade PnL display.

All analyses are hindsight, like all those YouTube videos. They are not wrong per se, just not particularly useful. The only true test is real time analysis/trading. We tend to justify market moves afterwards and try to decode some patterns from that. It’s the human nature to rationalize...

In trading nothing works 100%. There are so many variables so that no single factor, e.g. an indicator, or technique, e.g., TA will make one a profitable trader. Let’s say you have a strong edge on TA that works 80% of the time, which is a very high probability. If you don’t control your...

Yes, he quit from the trading firm after a few big successful years with 8-figure trading profits. Not sure if he made enough money or he lost his edge.

I am listening to The Ultimate Day Trader series and find they’re quite useful. There are 3 parts: Has anyone heard of this guy named Lance Breitstein?

That makes sense. Guess computer programs don’t care 1 share or 10 shares. I also noticed if my order is in the price volatility range, even at the edge, it always gets filled. My reasoning is it’s favorable to fill orderers as much as possible, like doing more business in a way. No order...

It’s amazing that my orders (mostly round orders from 100 to 500 shares) almost always got filled even at the price edges, i.e., if the price reaches $200.06 at its highest and I got filled at $200.05. For years I only had a few orders filled at 93 shares out of 100 shares, for example. It was...

The key is keep adding (DCA), no matter how market is doing. When the market is down big or flat you keep adding and you’ll be golden. I remember in 2008-09 some of my friends were disgusted by the market and pulled out into cash in their 401k. I kept adding to mine from every paycheck. Boy was...

I think in the current (and probably future) market with AI/algo trading, cutting your loss short is still valid as always. However, letting your winner run is rather questionable, perhaps more like taking your profit quick. Therefore, risk management is not the true edge. At best you’re just...

Investing is very easy, just do what Warren Buffett says to invest in the stock index for the long term. It worked very well for me.

Trend line works until it doesn’t, just like the countless indicators. In a nutshell, nothing works 100% reliably in trading. Otherwise, you’d have found the holy grail, which doesn’t exist in trading.

IMO, there’s nothing wrong with scalping or day trading though they’re extremely difficult to learn. In fact, becoming a good trader is a life changing experience, like good risk management, patience, looking at the big picture, willing to take small losses (before they become big), sticking to...

By order of importance/relevance: 1. A real edge, meaning you can really see how the market moves sometimes. This takes years of screen time, i.e., the famed 10,000 hours theory. 2. Risk/loss control, a psychological issue. Focus on psychology more than execution, e.g., set stops. 3...

Sim trading does work in terms of what you described. However, one can do this better with using a small account and trading small. That learning is real learning because Sim trading will make traders feel differently (specifically in psychology) and they have to correct it later, which causes...

For OP if you decide to continue please be prepared for the following. 1. You need 10+ years of experience to possibly cultivate an edge, if it happens at all. 2. You will lose a lot more money in the process. Sim trading won't work. 3. You will make all the mistakes in trading and do it over...