Day Trading Tips? I am new to trading !

Kiaraakitty

Kiaraakitty

Hi there, I am Kiara~
I am new to trading and been trading for 1 week + it been an overwhelming experience for me ! currently I am hooked to checking the market almost everyday once is open at PST 6:30am.

My first stock was GOOG which I believe is a long-term investment but I brought it at a fairly higher price as I was slow in the market ! :(
For my better buy I felt it was Tesla, I brought it when it was lower and it went up to a good 9% in a day which I was lucky..

I would like to seek for day trading tips, what are the things I should pay attention to if I would like to do day trading? and when economy reopens again, what type of industry would have a significant impact?

Personally, I was thinking of F&B like starbucks..
do share with me your insights, I have alot to learn and to look forward to~
 
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Kiaraakitty said:
Hi there, I am Kiara~
I am new to trading and been trading for 1 week + it been an overwhelming experience for me ! currently I am hooked to checking the market almost everyday once is open at PST 6:30am.

My first stock was GOOG which I believe is a long-term investment but I brought it at a fairly higher price as I was slow in the market ! :(
For my better buy I felt it was Tesla, I brought it when it was lower and it went up to a good 9% in a day which I was lucky..

I would like to seek for day trading tips, what are the things I should pay attention to if I would like to do day trading? and when economy reopens again, what type of industry would have a significant impact?

Personally, I was thinking of F&B like starbucks..
do share with me your insights, I have alot to learn and to look forward to~
More...

there's nothing to learn. put your money in low cost index funds. you'll outperform 99% of wannabe investors and daytraders in 10 years time.
 
Kiaraakitty said:
Hi there, I am Kiara~
I am new to trading and been trading for 1 week + it been an overwhelming experience for me ! currently I am hooked to checking the market almost everyday once is open at PST 6:30am.

My first stock was GOOG which I believe is a long-term investment but I brought it at a fairly higher price as I was slow in the market ! :(
For my better buy I felt it was Tesla, I brought it when it was lower and it went up to a good 9% in a day which I was lucky..

I would like to seek for day trading tips, what are the things I should pay attention to if I would like to do day trading? and when economy reopens again, what type of industry would have a significant impact?

Personally, I was thinking of F&B like starbucks..
do share with me your insights, I have alot to learn and to look forward to~
More...


Buy Stan Weinstein's Secrets for Profiting in Bull and Bear Markets book. I am not affiliated with him in any way, shape or form. Just pointing you in the right direction. Understand and use proper risk management. Risk no more than 2% in each trade. I would avoid day trading because it requires a lot of time management. Focus on Swing trading and Trend following instead, you probably, will do better provided you have proper risk management. Risk management is job number 1 if you do not wish to blow up your account.
 
If you want to become a day trader, you should expect it to take significant time (likely years) to reach consistency, or an amount of time equivalent to what it takes a person to achieve mastery in any other subject, despite your background.

You can't decide how much this endeavor will cost you in time, as it will take however long it takes, and that greatly varies per person.

But you can decide how much it will cost you in physical assets, by choosing to keep your initial risk very low, or trade in a simulation account.

I'd suggest trading just one instrument, a single stock or futures contract. Watch one instrument in multiple time frames, and be as patient as you can.

Good luck
 
Kiaraakitty said:
Hi there, I am Kiara~
I am new to trading and been trading for 1 week + it been an overwhelming experience for me ! currently I am hooked to checking the market almost everyday once is open at PST 6:30am.

My first stock was GOOG which I believe is a long-term investment but I brought it at a fairly higher price as I was slow in the market ! :(
For my better buy I felt it was Tesla, I brought it when it was lower and it went up to a good 9% in a day which I was lucky..

I would like to seek for day trading tips, what are the things I should pay attention to if I would like to do day trading? and when economy reopens again, what type of industry would have a significant impact?

Personally, I was thinking of F&B like starbucks..
do share with me your insights, I have alot to learn and to look forward to~
More...
Go thru the journals and they make a good bed time reading. You have to weed thru the useful ones patiently cuz there will be a lot of trash and goodies.
If you want to be a day trader follow the trend. Economy and it's due consideration however valuable it may be is really irrelevant.
You can also look at etfs like udow,spxl,TQQQ etc. Don't try to hold them overnight initially.
If you can trade futures, ES will be more appealing to kill time and make money at the same time. Watch news.cnbc benzinga marketwatch barchart.com tradingview.com are some useful places to hangout religiously.
Never have emotions and cut your losses. Remember to take profits.
 
You can make money playing roulette too.

To become consistently profitable daytrader, you will have to invest 10,000 hours into mastering the skill and probably tens of thousands of dollars. There is no other way. Any profits you might have made by luck are misleading.

It's probably closer to 5-10 years to become profitable if you can't do it full-time.

Just the harsh reality.

Still sounds exciting?
 
Most importantly: Buy the dip. The Federal Reserve and the powers that be always saves the market because the alternative is 401k accounts blown to pieces with no pensions for anyone. Too big to fail is real. Learn about moral hazard and accept that there is no morale in the markets. Markets 201: Learn about relative value trading.
 
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