Crazy paper trading day

TheDawn said:
Wow!!! Can I switch my life with you? LOL You are such a successful businessman and you want to trade? LOL If I were you, I would just concentrate on my construction business, expand my business and then just enjoy my life. Trading is stressful tbh.
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The main reason why the construction stuff is so stressful is that I have to act as my own contractor in order to make any money. So I always have to be responsible to people who are working (make sure materials are on site, etc.) or else the work can't be done.

In the brief time I've had success trading, I've found it to be way less stressful. But I wouldn't mind finding an algo that I know would lose sometimes, but win over the long-term.

Have you been successful trading? Do you pay your bills with it?
 
So I said I would just try something (okay, it's still paper trading because I'm not going to put real money into NinjaTrader until I find out which broker I'm going to end up using)... I just bought 3 contracts long because I thought that's what way the market is looking.

A few hours later, it's up 6 points for $900 profit.

Is this a good strategy long-term? I honestly don't know. Maybe all the other stuff is overthinking and I should just bet which way the market is trending. Go for a more qualitative rather than quantitative approach.

Btw... This is exactly what I was doing at Schwab so it's really nothing new.
 
Overnight said:
Then why not keep doing it at TD AmeriSchwab? Why try to fix what is not broken? You already have a winning formula. What the hey.
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I don't know if it is a winning formula. Even if it's an "okay" formula, there's always room to improve.

The advanced trading platforms offer everything Schwab does and more. There's no benefit to staying there.

And this strategy of just betting the way the market goes works okay until it doesn't. Then it leaves me with a huge loss when I have to admit I guessed wrong and things aren't going to turn around.

I haven't figured out if or how I would incorporate the increased day trading leverage into my style.
 
Overnight said:
Umm, that's what all trading is? Why would changing to a different broker/platform alter that paradigm?
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It wouldn't.

But if I wanted to refine my approach, perhaps add some algorithms for overnight hours, or use increased leverage (responsibly, hopefully) during day trading, then I can only do that with an advanced platform.
 
farmerjohn1324 said:
The main reason why the construction stuff is so stressful is that I have to act as my own contractor in order to make any money. So I always have to be responsible to people who are working (make sure materials are on site, etc.) or else the work can't be done.

In the brief time I've had success trading, I've found it to be way less stressful. But I wouldn't mind finding an algo that I know would lose sometimes, but win over the long-term.

Have you been successful trading? Do you pay your bills with it?
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I have been but the profit is not stable. I can pay the bills when I do make the profit but I never know when I am going to have a big drawdown. That's the problem. It's the big drawdown that's the biggest problem in my trading right now. And it always comes when I am least expected. LOL
 
10 pages of a bunch of People kicking the shit outta some poor Sod. It's not like he's a complete Stranger either.
 
TheDawn said:
I have been but the profit is not stable. I can pay the bills when I do make the profit but I never know when I am going to have a big drawdown. That's the problem. It's the big drawdown that's the biggest problem in my trading right now. And it always comes when I am least expected. LOL
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What's your general exit or entry strategies? Not asking for tons of detail... But is it algorithmic? Manual?
 
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