After my first year of mediocre trading, I’m looking to do some serious training on a paper account

[Bugsy]

Why day trading? With a small account you run up against the PDT rule. Probably the most difficult type of trading.

I'm not sure why people are drawn to day trading. Is it the lure of easy money, the internet guys who are turning a 5k account into millions or some other reason?

I know I tried it and on paper it looks like if you only make a half percent a day then compound it you'll soon be wealthy. What doesn't show up in your calculations are the inevitable losing days, the spread, or the mistakes.

They want this sick setup

https://ibb.co/Wkc46xR

Then they can stroll back and forth with their arms folded, serious face expression, feeling like a boss.

 

[deaddog]

They want this sick setup

https://ibb.co/Wkc46xR

Then they can stroll back and forth with their arms folded, serious face expression, feeling like a boss.

LOL Cool!! me too but I manage with a laptop with one additional monitor.

 

[Bugsy]

LOL Cool!! me too but I manage with a laptop with one additional monitor.

I use my tablet. Used to be my PC but sitting in front of a computer all day sucks.

 

[fan27]

I’m just trying to relate how a programmer like myself can take that method of learning and education to a paper trading account. IE there is a sequential method of concepts one must learn and practice in order to become good at computer science concepts (databases, networking, scripting, coding, algorithms etc) I am assuming with TA techniques, fundamental analysis of corporate finances and financial analysis. There seems to be a plethora of concepts that can and should be learned just like I had to do with my tech skills

If you are going to discretionary trade using charts, I suggest creating a database of screen shots of the chart setups that you are going to trade.

 

[Handle123]

I’m just trying to relate how a programmer like myself can take that method of learning and education to a paper trading account. IE there is a sequential method of concepts one must learn and practice in order to become good at computer science concepts (databases, networking, scripting, coding, algorithms etc) I am assuming with TA techniques, fundamental analysis of corporate finances and financial analysis. There seems to be a plethora of concepts that can and should be learned just like I had to do with my tech skills

I not found any programmers that were able to trade, until they were able to manually trade. I have worked with many programmers, constantly going back and forth cause concepts in their brain were totally off as I designed rules. I learned to program back in 90's so I give sensible directions, but takes time for them to better understand charting and relationships. I have sixteen automated systems, but several turned off as Indexes too high, plus adjusting funds to long term commodities and stock options.

I wish you luck.

 

[Bugsy]

This past year I started my trading journey with a small account.with no real progress and doing research I’m ready to go back to paper trading seriously and do some learning and gain the actual skills needed before hopping back on my cash account. I’ve collected some reading material on TA and fundamental analysis, and was able to get a discount IBD subscription.

I played with a few brokers this last year and have settled on IBKR Lite for now. I’m an Automation Developer for a wealth management firm and am pursuing my MS in Accounting/Finance to pair with my BS in Computer science. So currently I’m all in in learning Finance and the markets at this point in my life. Becoming good at programming takes screen time and getting behind the keyboard to train and grind code. I feel the same mindset in learning some of these deep concepts can be placed with paper trading.

Is there a structured path on what and how I should learn? I would like to take 1-2 months of hardcore paper “training” but where to start and where to go is what I’m looking for.

Can I make a suggestion? Don't paper trade. Its useless. Your trading is completely different when you have no skin in the game. Rather, trade 1 single share. A $5 or $10 single share. Even though it may not seem like it on a $10 stock, you lose 10% or $1, it is still your money being lost, and you feel it. It gives you the psychological tug you need to trade effectively. When its paper you will justify wins or losses you would or would not have made since you didn't risk anything.

 

[taowave]

Day trading??You are setting the bar way to low considering your "resume"...

Putting in all this time on education,work in a money management firm,and your goal is to lock yourself in your basement and day trade???

Think bigger,but if you still want to day trade,at least consider swing trading/ momo...

Read up on David Ryan....

Check out

https://qullamaggie.com/

Good luck

day trade would be the end goal, but only have a small account, that mixed with some swings.

 

[ZBZB]

This past year I started my trading journey with a small account.with no real progress and doing research I’m ready to go back to paper trading seriously and do some learning and gain the actual skills needed before hopping back on my cash account. I’ve collected some reading material on TA and fundamental analysis, and was able to get a discount IBD subscription.

I played with a few brokers this last year and have settled on IBKR Lite for now. I’m an Automation Developer for a wealth management firm and am pursuing my MS in Accounting/Finance to pair with my BS in Computer science. So currently I’m all in in learning Finance and the markets at this point in my life. Becoming good at programming takes screen time and getting behind the keyboard to train and grind code. I feel the same mindset in learning some of these deep concepts can be placed with paper trading.

Is there a structured path on what and how I should learn? I would like to take 1-2 months of hardcore paper “training” but where to start and where to go is what I’m looking for.

The only bit of TA that has a lot of money being managed with it and can be automated is trend following. Search donchian channel and donchian moving average cross.

 

[taowave]

How do you define TA???

Is mean reversion/pairs trading in your definition??

 

[VicBee]

Why day trading? With a small account you run up against the PDT rule. Probably the most difficult type of trading.

I'm not sure why people are drawn to day trading. Is it the lure of easy money, the internet guys who are turning a 5k account into millions or some other reason?

I know I tried it and on paper it looks like if you only make a half percent a day then compound it you'll soon be wealthy. What doesn't show up in your calculations are the inevitable losing days, the spread, or the mistakes.

Day trading provides instant gratification or pain.