Made a lot of progress, but feel like there's so much more to go...

trader99 said:
Today is my first day of my new job. It went really well. I think it's very promising and I enjoyed it.

I'm glad I'm going with Path 3! This morning I made a few stupid mistakes. I shorted when I shouldn't. Then I decided to reverse andwent long then it immediately went down. Then I reversed and went short then it ripped up. I got out at a lost. While not a super big loss, it was still a measurable loss that put a slight dent.

Now that I'm back to Corp America again, I know a good paycheck will come every 2 weeks. I will not freak out on the loss this morning. I learn from it and improve it next time.

Totally different attitude and sentiment when you have a secure source of income besides trading. If trading was my sole source of income then I would be very stressed out.
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First day is always the best day in a new job. What's it like in 3 months time?
 
Pkay said:
Great, so you are in a good spot. Use the day job to pay the bills and trade on the side.
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Basically. It's pretty nice job that pays more than the bills.

I think of things from a portfolio management point of view. My job is like bonds/fixed income instruments. Steady and sure. My trading is like higher risk asset classes. You need both in a portfolio. :)
 
trader99 said:
do you guys know of a good real-time gap scanner? I know there's trade-ideas. I've tried it briefly. It's expensive and too busy. Too many things to track. I'm using finviz.com(free version). But it's not quite real-time. I'll continue to test out finviz.

Please let me know any good ones free or paid ones. Thank you in advance.
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If you're making good money trading then surely a quality paid scanner is an investment?
 
Pkay said:
If you're making good money trading then surely a quality paid scanner is an investment?
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I bought one already. That's why I was able to make the good returns lately. :) The monthly cost of the scanner is a pittance compared to the trades it has scanned and helped me identified. Obviously given an inexperienced trader the same scanner, I'm sure the results will not be the same.

Scanners are only part of the equation. You still need to know how to trade(entry, exit, risk management, position sizing, etc.)
 
trader99 said:
Basically. It's pretty nice job that pays more than the bills.

I think of things from a portfolio management point of view. My job is like bonds/fixed income instruments. Steady and sure. My trading is like higher risk asset classes. You need both in a portfolio. :)
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Nice that's a good place to be. What sort of ROI are you looking for?
 
trader99 said:
I bought one already. That's why I was able to make the good returns lately. :) The monthly cost of the scanner is a pittance compared to the trades it has scanned and helped me identified. Obviously given an inexperienced trader the same scanner, I'm sure the results will not be the same.

Scanners are only part of the equation. You still need to know how to trade(entry, exit, risk management, position sizing, etc.)
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Thanks, I agree. What scanner are you using?
 
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