*EXPERIENCED DAY TRADERS*how would you recommend starting out as a trader?

[J_Smith]

Let us be realistic.

Most of them are attracted to trading because they want to make millions, from home, using 1-5k, trading in boxers; and yes most of them consider themselves "Special".

Yes, same as adults!

Truth is, a monkey can make money trading, but very few humans are able to hold on to it if they do make it!

There is no reason why this person can't become successful -providing he is prepared to not be like his mates and is willing to listen and take good advice from those who have experience and are a good few years older than him!

J_S

 

[Autodidact]

Yes, same as adults!

Truth is, a monkey can make money trading, but very few humans are able to hold on to it if they do make it!

There is no reason why this person can't become successful -providing he is prepared to not be like his mates and is willing to listen and take good advice from those who have experience and are a good few years older than him!

J_S

First things first.

Who's going to give him an edge?

Chances are he won't find one on his own.

 

[J_Smith]

First things first.

Who's going to give him an edge?

Chances are he won't find one on his own.

Well, if he is willing to listen and work, I will!

I can show him a very simple "approach", that if he follows to the letter, with no "if's" or "but's", will make money for him.

In fact, I will show him how to do it with options - so he can start small with the money he has and build it up slowly over time.

His "goal" right now, should not be to make money, but to gain "experience" - once he "see's" trading for what it really is then he will be under no illusions and will know exactly what he has to do in order to make money and hold on to it, each and every week.

J_S

 

[Autodidact]

Well, if he is willing to listen and work, I will!

I can show him a very simple "approach", that if he follows to the letter, with no "if's" or "but's", will make money for him.

In fact, I will show him how to do it with options - so he can start small with the money he has and build it up slowly over time.

His "goal" right now, should not be to make money, but to gain "experience" - once he "see's" trading for what it really is then he will be under no illusions and will know exactly what he has to do in order to make money and hold on to it, each and every week.

J_S

Ok Good Samaritan, good luck to you, and him.

 

[J_Smith]

Ok Good Samaritan, good luck to you, and him.

Well AT - there is no suck thing as luck
Rgds,
J_S

 

[Autodidact]

Well AT - there is no suck thing as luck
Rgds,
J_S

It's still considered a polite figure of speech that means well.

 

[JoshLowe005]

JL, you just might be in for one rude awakening!

So, you are a "profitable" sim trader.

If you want to give a very quick overview of your "approach", then maybe some of us can tell you whether you are wasting your time or not, and if you would be better off to try a different approach like using options to limit your risk as you gain real experience, and make some more money so you don't have to depend on anyone else - in case you do not know you can still daytrade stocks using options providing you identify the correct stock/strikes/expiry's with the help of Zeno and some of his acquaintances!

"In a race, the quickest runner can never overtake the slowest, since the pursuer must first reach the point whence the pursued started, so that the slower must always hold a lead."

J_S

Well first off I always wait 20 minutes after the market opens before I place a trade. I then scan the charts and always choose stocks that are down, that I really believe are going up. I wait until the U where it first starts to come back or after 2 consecutive drops with a peak that will go back up, basically following patters of what I've seen in the charts. I made my own strategy from practining for a couple months and I haven't had one negative day on this practice account. I usually make 2-4 trades then sell when they go back up, usually 50-70 % go up where others stay the same or go down and I sell. I sell seconds to 15 minutes usually. I've held for a few hours to a couple last week and it worked out to my advantage but ideally as soon as I see profit I take it, and cut my losses on bad trades as soon as possible. Overall my wins have outweighed my losses since I started studying charts, but I'm not a pro, I know nothing really but go off of what I'm really sure is going to happen. I'm still studying technical analysis online to learn more about charts. I heard this is more of an odds game rather than predicting so that's what I've been going for. None of this could have even made sense to you but I'm not sure how else to explain at the level im currently at. I'll get back to you when I know more.

 

[JoshLowe005]

Well, if he is willing to listen and work, I will!

I can show him a very simple "approach", that if he follows to the letter, with no "if's" or "but's", will make money for him.

In fact, I will show him how to do it with options - so he can start small with the money he has and build it up slowly over time.

His "goal" right now, should not be to make money, but to gain "experience" - once he "see's" trading for what it really is then he will be under no illusions and will know exactly what he has to do in order to make money and hold on to it, each and every week.

J_S

I would really appreciate you showing me your approach. I really have no one to look to as a mentor so that's why I'm here trying to gain insight from someone who is experienced. Thank you very much for understanding! I hope to hear back soon.

 

[J_Smith]

Well first off I always wait 20 minutes after the market opens before I place a trade. I then scan the charts and always choose stocks that are down, that I really believe are going up. I wait until the U where it first starts to come back or after 2 consecutive drops with a peak that will go back up, basically following patters of what I've seen in the charts. I made my own strategy from practining for a couple months and I haven't had one negative day on this practice account. I usually make 2-4 trades then sell when they go back up, usually 50-70 % go up where others stay the same or go down and I sell. I sell seconds to 15 minutes usually. I've held for a few hours to a couple last week and it worked out to my advantage but ideally as soon as I see profit I take it, and cut my losses on bad trades as soon as possible. Overall my wins have outweighed my losses since I started studying charts, but I'm not a pro, I know nothing really but go off of what I'm really sure is going to happen. I'm still studying technical analysis online to learn more about charts. I heard this is more of an odds game rather than predicting so that's what I've been going for. None of this could have even made sense to you but I'm not sure how else to explain at the level im currently at. I'll get back to you when I know more.

What you have being doing JL is called "dabbling", and based on what you described you would not last a week if you were to try live trades. As soon as you see your real money changing color in front of you, your thoughts will be all over the place and you will make more mistakes than you can imagine.

J_S

 

[J_Smith]

I would really appreciate you showing me your approach. I really have no one to look to as a mentor so that's why I'm here trying to gain insight from someone who is experienced. Thank you very much for understanding! I hope to hear back soon.

If I say something, I mean it - so, I will help you get a better understanding of what you are up against and what you can do so that you don't throw away all of your money while you gain experience.

This will not be about making money for you, it will be all about losing money !

Before we even start looking at placing live trades, I am going to subject you to, let's say something that I think you need.

A new thread will start shortly, in the meantime, forget about all you have learned so far, and go lookup Interactive Brokers website for a student account - let us know what you find and what you are doing about it.

Btw, you will not have to worry about "grammer" in the new thread - the market doesn't give a shite about your education or how well you can speak - so don't even try to be someone you are not - never apologize to anyone for where you find yourself in life - but be prepared to do something about it for yourself.

J_S