Got into trading after college, 1 year retail, 1 month prop so far...I have issues..

That's strange.
Forced to trade C.
What about that black box system?
was it at least with good edge? by hand trade you mean manual trading?
It looks like a different kind of prop firm. No one forces us to trade particular stock. Actually, as our office is a new one, we have no system. Each one works on something his/ her own.
Looks like a couple or three experienced traders are coming over to our office soon.

BTW, what do you mean by technical analysis?
As I see each one at our office trade from support and resistance.
I am watching tape when these areas approached to decide on trade.
Do you mean same or some kind of MAs and other indicators?
 
Generally, I do not get it why you left as you was making money and was good. But with your initial positiove record I think you will have no problem to move to another office.
 
I see the point. They wanted you to trade their strategy and only stocks they wanted you to trade.
Sounds kinda odd.
Are there many other prop firms in NY? I am sure not every firm has such restrictive rules. Actually, neither Swift Trade nor Title trading force traders to trade this way.
 
as I was reading through your post I thought hmm he needs a mentor, and then the first reply is


Quote from athlonmank8:

U need a mentor to help u tighten up your trading. See if the firm has one. Also stop BO trading for now.
More...

I would say to stop the B/O strategy as suggested, and gravitate more towards S/R trading. Most of all get a mentor ASAP... Good Luck

TT


Quote from neveral0ne:

So I started trading in 2008 in a retail account, lost a crap load of my savings, had no clue what i was doing. Graduated college in May, joined a prop firm a month ago, different world.

Also did alot of research on tech analysis, price action, volume, pivots, trend lines, candles and patterns, which helped me some...

in the current firm...

My first assignment is to have 3-4 days of consecutive profit days, using only 1oo share, before we get bumped up to the next level. So far I have been losing every day a small sum usually about 5-10$ bux a day.. for the past 8 trading days. They also allow us and want us to have a max loss per trade of 2-3 pennies, to practice discipline, but its soo hard because almost always I get shaken out on the candle shadows that appear...it always scares me and I end up selling out at a loss, or takin too quick of a gain. How do I counter this ? How do I know if its a fake/shake out vs a real move ?

It seems like every time I buy a stock, it always goes the other way around. For example, today I played AMR.... I bought it at the top of a candle @ 7.52 .... started drooping... droped to 7.42 low of the candle... i couldnt keep up changing my order coz it droped so far, I got out with a 10$ loss @ 7.42, the next 3 candles it rocketed from 7.42 to 7.60. I mean this is crazy, i have like the inverse of perfect timing - but for maximum losses, lol.

I know i need screen time, I read alot of books, but so far none of it really actually has helped me make money.

Could I get some sparring/support here ? Any opinions or pointers would be appreciated...thanks everyone and good luck.

Also... im still young so I can afford and allow myself to keep doing this with no profit for a while since Im still at home, but i dont know how long is long enough before the tide turns around...
More...
 
Well...its kind of hard to get a mentor...

I dont even know where to look for one thats actually " good " and trades, not just "teaches".
 
Our office is new. We have no experienced profitable traders for now and 2 profitable traders are coming over from Swift in April.
So, no mentoring for us and we even cannot watch good trader trading which is also helpful. So, we all try to learn all by ourselves.

I have made a plan for myself to follow and trade only between 9:45 and 11:30. I trade from S/R and enter on Order windows a.k.a tape information.
Then I watch market for another 2-3 hours or trade on Demo and that's all. Whatever I have by 11:30 it is the final for the day.
 
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