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Very enlightening stuff, thanks!

You know that saying a bad carpenter never blames his tools.. well maybe its the same for trading? At the moment I only have a optionsxpress a/c which doesn't have a great deal in the way of charting stuff, but I like their virtual trading platform. For charts I just use about 10...

If someone is successful at swing or day trading, why don't they learn options trading and make a whole lot more money? Options trading magnifies the % moves, right? So there is potential for a great deal profit if done right, no? Also losses are magnified too I understand, but it would just...

When you say "trade small" what sort of lots are we talking about? And what price range should these stock be? If a stock is $50-$100 go with 100 shares? more/less? Or maybe 10 ITM calls? Should we be extremely strict with stops? Thanks!

Is there any useful to do during weekends? Obviously there is no real time action to watch/observe? I'm not tied to the computer or anything, but research wise what would you recommend? Forex?

Thanks again mate. Appreciate it.

Slightly off topic, but I figure someone would know.. what's the real danger with trading penny stocks? I mean trading them not investing in them.. (by penny stocks I don't mean Pink Sheets, but $1-$5 stocks) Sudden price drops? More unpredictability? I figure I could tame those a bit better...

Thanks mate, Lately I've been really down in the dumps and completely unmotivated to do anything really. Can't seem to focus or get a grip.. definitely not the state of mind a trader should be in!

Thanks guys, Yeah I know my post seemed kind of negative, and I haven't lost any money.. yet (sim trading atm). But I'm just damn frustrated when I come up with a strategy and then it appears to work for a while but then the markets do something unexpected and everything falls through...

It's just another form of gambling were only the 1% who are extremely lucky (yes, lucky) don't end up with nothing in the end. You can backtest, papertrade, technical analysis your ass off, but at the end of the day your going around in circles. Everyone on the planet knows MACD, Stochastic...

Apologies if this has been asked before.. Lets say if I buy 10 calls of XYZ at limit order of $1.00 and according to my TA, I would like to exit the position and sell my calls if the stock drops below $30.. how can I enter this as a stop loss? Right now I'm using optionsxpress Virtual...

Which is generally the safer or higher probability play.. buying on or near support levels or buy when a stock is likely to breakout and watching volume, moneyflow, etc.. and hoping it will breakout? I realise this has to do a lot with market direction, but lately a lot of trendlines have...

Seen this guy on youtube and listened to his podcasts.. is he really a "rock star" or does he fall into the "those that can't do teach" category? Thinking about trialing the paid section on his site. He pretty much uses 100% technical analysis. He mosty swing trades over several days yet somehow...

If you have access to someones trading records (no I don't work at a broker) is it possible to somehow "reverse engineer" their trading strategy?