Which is better...

-------because there are days that my strategy is less effective
-less effective-means what? few days of losses? or instead make few grants you make few hundreds?))))))))))))
you should work on money management and on how recognize those days. do not afraid to take loss, just do not take too much of them))))) there is no 100% system (even my just about 90% accurate)))))))))))
just kidding)))
 
yes that means I make less money or lose money(so far not so much loss) those days..maybe it is so-called choppy days

but what if I become independent from my parents and those days continued for very long time, days, weeks or months?

I have to pay my apartment, food, car, cost of doing business, and if I get married, paying for house, my gf is spend big money now she got money from her rich family but the I have to pay for her too like cloths and bags(if possible I dont want to change her life style....if I have kids I have to save for their education...


also I want to pay back money to my parents for my education
they helped me getting real time data for my eduation too....

even I save on those alot but still cost of living will be alot..

I really admire people who can daytrade alone and make living for the families
 
Ojo,

Making $.25 on 500 shares works out to $125 excluding commissions. If you're able to limit your losses to less than this and make greater than 50% profitable trades then you're on your way. You need to ask yourself whether these gains are enough to pay your expenses but I assume you've already done the math.

Live trading is much more difficult than paper trading because new traders (in general) trade scared and don't pull the trigger like they did when the setup was on paper. Another common problem is an inability to cut losses quickly. Most grit their teeth and hope for a rebound while on the opposite side of the coin they're scared to let a winning trade ride. It's been said a million times already and you probably read it a million times in books but I'm repeating it because it's so common. I made these mistakes when I started and I'm sure everyone else did too. Don't get me started on partials, no fills, MM games, etc. that you don't experience on paper.

That's why if you're going to start live trading, make sure you start with 100 share lots. Don't worry about the commissions, focus on profitability. Once you know you're trading at a level where you're making money aside from commissions, it'll be easy to step up in size and increase your profits so commissions won't be as much a factor.

As far as whether you should start trading or not, no one here can answer that as it's ultimately your decision.

:cool:
 
Interesting that one of the better SP groups at the Merc is the OJO group. I don't know how seriously to take you Ojo. Having paper-traded for so long should have seasoned you to realize that your method will be ineffective sometimes.

I guarantee that you can be the best tracker in the world, but if you can't pull the trigger when the prey is in the crosshairs, you won't eat. Ooooo, that was good. I might make that my new signature. :D

Try Echo. They will let you remote. And for $200 a month you can trade with them. They seem to have a lot of happy traders.

I think you should earmark $5000 for loss, and trade 100-200 shares just to get the feel of pulling the trigger in real time, and to get to know yourself better. Remember, the market doesn't know whether you're in with 100 or 1000 shares, so your goal will be to trade your system real time as closely as you can to paper trade. Focus on the number of points you are capturing and not the $$$. Do not consider the effect commish has on 100 shars because it is a larger percentage of the actual profit than with 1000 shares.

Great system or not, always remember.....
 
" I don't know how seriously to take you Ojo. Having paper-traded for so long should have seasoned you to realize that your method will be ineffective sometimes. "

What I am doing on paper is very simple (as I wrote, Its Support and resistance but different way to draw lines) I found this about 3 years ago the original idea was simpler than that. now got slightly more complicated but simple enough for me to handle in realtime (not with real money yet though)
I dont know why could kept trading on paper but.... I dont know...
I just didnt have money to trade...

also Ive heard about slipage etc so I always substract 5-10cents from my profit then substract $30 for commissions.

"Try Echo. They will let you remote. And for $200 a month you can trade with them. They seem to have a lot of happy traders."

thank you alot of people say so too.

"I think you should earmark $5000 for loss,"

I lost 50% of my balance so many times on paper :>

"and trade 100-200 shares just to get the feel of pulling the trigger in real time, and to get to know yourself better. Remember, the market doesn't know whether you're in with 100 or 1000 shares, so your goal will be to trade your system real time as closely as you can to paper trade. Focus on the number of points you are capturing and not the $$$. Do not consider the effect commish has on 100 shars because it is a larger percentage of the actual profit than with 1000 shares."

If I can do that I think I can make money so far....
thank you
 
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