Maybe big mac mean a lambo and he's just being humble calling it that. Actual big macs here cost less than $5. So if you're learning trading just to make $5 a day, that's a waste of effort i think.
Learn To Take Losses
- Thread starter ironchef
- Start date
Maybe big mac mean a lambo and he's just being humble calling it that. Actual big macs here cost less than $5. So if you're learning trading just to make $5 a day, that's a waste of effort i think.
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PRICE sound about right;
good starting goal, but one can buy more chocolate or strawberries for $5.777 .
I shoot a lot of my food ;
+ Bang [+ ] Energy Drink , Red Bull cans.........................
I seldom use a US $ goal ;
i may glance @ that on FED day but most days are not like that ''BIG Mac Attack'' move days LOL.
Local MCD put in another drive thru lane.
I seldom have big losses , even though that can happen sWing-position trades;
but that kind of loss would mean one was doing that swing last half \MAR.
All sounds good. Well, except for "super brushing" your teeth -- bad for your gums!
And I follow the boring-ass keto diet, but it works.
I forgot to add that I use this:
Philips Sonicare DiamondClean Smart 9300 Rechargeable Electric Power Toothbrush, Black, HX9903/11
https://a.co/d/h4Ujm0y
So no issues with gums!
I am risk averse, don't Martingale like you.
If begging on the streets can get me a free BIG Mac, I might try that when I have some free time after market closes.
I will let you know if that is easier than day trading.
I go one step further:
I rather have a wagyu cheese burger.
The TOS sim is actually broken and has been for ages. The techs there say it is the last on their priority list to get fixed during this time of transistion to CSchwab.
Try sending a market order for 100 shares or even less and you will see, you can count the seconds until the order gets filled. Closing the trade is frustrating in the sim as it takes forever even using flatten now. All measures of your performance are messed up to the point of it being useless. Now in the past month or so they could have fixed this, but about 2 months ago and last year it was broken. I've gone to using less shares to work out my chinks in trading using real money and gradually building up the number of shares I will trade as I work through my learning processes.
Start off by trading with 1 share and real money. Then go 10 shares. When you have worked out chinks in your trading, over numerous weeks, perhaps several months, go up to 20 shares etc.
This is working very well for me. I use the Active Trader in TOS so I can open & close the market orders for buying and selling quickly and I watch the P&L for that trade so I can close losers fast or know when holding them is useless and get out quicker than my stop. My stops are set for max $3.00 loss which is catastropic protection and gives me wiggle room to work through a scalp. I have tried a lot of different stop settings and since I'm a scalper, the most important thing is to close the trade if it goes against me, but that takes a lot of practice to become robotic about and sometimes I have let it hit my whole stop loss. But this works for me and so far now I'm profitable ALMOST every day now for months... Took a long time to figure this out, that's why I'm passing it on to you to give you ideas that have worked for me.
This is the only part of TOS that I use and I have the ladder closed so all I see is this panel. I use Medved Trader for charting and DOM in MT instead of this ladder. I also use haiken ashi and tick on MT along with a 1 minute normal candlestick for monitoring the action, along with a 2, 5 and 15 minute chart and the indexes at the top of my main screen. But this part of the TOS get in and out with market orders and an underlying stop setting that automatically gets put into the trade when entering the trade. Works for me and I've tried so many other ways, but this works and MT charts are the best IMO
