Quote from I Trade 4 Money:
Thanks for the advice. I guess I'll use this weekend to see good entry points for the 50 stocks I track.
Quote from heavyhitter78:
In my opinion for a guy who is just starting out, tracking 50 different stocks is way too much. Perhaps you should narrow down the amount of stocks you track in a day to 10 to 15, this may prevent you from missing your entry points and thus help you from chasing the stock. If anything else it would be a lot easier on the brain.
Something to think about. Good luck, and keep us posted.
$300 seems a little excessive for stock feeds, does that include some sort of desk fee as well? Can't really analyze the commissions as I don't know how many shares you're trading, but you can check the other prop threads on ET to ascertain whether you're getting a decent deal or not.Quote from I Trade 4 Money:
Well, 300 of it's from market data fees. Nearly half of them are from commissions.
Quote from I Trade 4 Money:
It's precisely 39 stocks I track. I focus on 2 sectors. I calculate the atr for 48 stock's, etf's and indexes everyday. I was considering trading just the SPY's, DIA's, or the QQQQ's for simplicity, but my mentor convinced me to trade stocks by showing me how every stock was different (even though they were within the same sector) and how each stock had different low-risk/ high probaility trades based on MA's, different key price levels, mutliple timeframe analysis and such. Maybe after I make enough money from stocks, I'll consider trading etf's like SPY, DIA, or QQQQ (ES, YM, or NQ equivalents, respectively) in addition to the other stocks I track.
Quote from I Trade 4 Money:
It's precisely 39 stocks I track. I focus on 2 sectors. I calculate the atr for 48 stock's, etf's and indexes everyday. I was considering trading just the SPY's, DIA's, or the QQQQ's for simplicity, but my mentor convinced me to trade stocks by showing me how every stock was different (even though they were within the same sector) and how each stock had different low-risk/ high probaility trades based on MA's, different key price levels, mutliple timeframe analysis and such. Maybe after I make enough money from stocks, I'll consider trading etf's like SPY, DIA, or QQQQ (ES, YM, or NQ equivalents, respectively) in addition to the other stocks I track.
Quote from Trader KGB:
$300 seems a little excessive for stock feeds, does that include some sort of desk fee as well? Can't really analyze the commissions as I don't know how many shares you're trading, but you can check the other prop threads on ET to ascertain whether you're getting a decent deal or not.
I see that you've posted about the e-mini's in the past, will they let you trade those as well at your firm?
Quote from Boib:
Cut back to one or two stocks.Or trade just one of the etf's. You have to learn how to trade before you can make money not the other way around.
If nothing else by concentrating on one or two you won't lose money so fast.
Do you have a written plan you follow?
Quote from I Trade 4 Money:
I currently do not have a written plan. I'm going to start doing it this weekend. As a matter of fact, I plan on writing a journal, from now on, in the journal section and coming up with a blog in the near future.