Why am i better at day trading?

In the past 7 days, my average daily gains have risen to 563.09, with a total 7 day gain of $ 3,941.68.

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biggest losers:

Long OIH from 179.99 to 178.85 228.00

Short ISRG from 207.66 to 208.15 73.50

biggest gains:

Long RIMM from 213.02 to 214.40 277.00

Short OIH from 178.12 to 176.77 270.00

total p/l for today: 470.41
 
I disagree with most or the posts here regarding paper trading. There is an emotional difference, of course, between trading on a simulator and trading with actual money. But if you can't make money paper trading you very likely will not make much in real trading. My advice is stick with paper trading until you have been successful for a number of months (at least) and in both volatile and less volatile up, down, and sideways markets. Then, if you are successful in paper trading, trade initially very small with real money, as others have suggested. One more thing, turn off or cover over any part of your trading screen that shows the dollar amount in your account in real time. Keep track of only the ticks when trading, and then convert the ticks made or lost to dollars (correcting for commissions) at the end of the day. This is a great help trading with real money once you are ready to scale up, as it will help you keep fear and greed in check.
 
I've been trading real money for over a year, so I know the difference between a simulator and real money when it comes to the emotional aspect of trading.

But it almost seems like your saying "Cashmoney, anyone can have those kinds of results..it's a demo!"

yes, but I am trading from LIVE into..not delayed like most demos, so i see what you see.

I trade on this demo as if it was real money.

You say that i have the results I do, because I'm not risking my own capital so making 200..300..500 a day is not hard, because the emotion is not there, but that would also work for the down side as well. I could very well lose 200..300..500 a day, but thats not the case.

cm
 
quote below
"I had about 23k + including margin right now, but because my trading strategy fails most the time, I trade small size and hold for a while to allow the trade to work..but when day trading I can do 200 shares many times a day."

I too am interested in starting to daytrade stocks. Interactive Brokers refused to let me open an account. So first I am trying to find a broker about as cheap as IB commissions. I don't have 25k to start with so I think rules only permit me to make a total of 3 day trades in any 5 consecutive trading day period. You are forbidden from making 4 day trades in any 5 consecutive trading day period if your cash balance falls below $25,000 at any time. I think that is still the rule. I haven't really traded stocks, except once in a while in my ira, since about 2000.

So if you only have 23k, including margin, you can only make a total of 3 day trades in any 5 consecutive trading day period. If you make a 4th daytrade and your account cash falls below 25k at any time in that period, they use to freeze you out from trading for 3 or 6 months. I haven't seen the rules in over 7 years, so correct me if I am wrong.

I will be starting with 20k. So I will be limited to 3 daytrades every 5 trading days, until hopefully I can get my account above 25k. If anyone knows of any brokers like IB that charges cheap commissions and doesn't require lots of trades monthly to get the cheap commissions.

So if you only have 23k, including margin, I believe you can only make a total of 3 daytrades every 5 trading days.

Thanks.
Eddie
 
Quote from eddiegorniakjr:

quote below
"I had about 23k + including margin right now, but because my trading strategy fails most the time, I trade small size and hold for a while to allow the trade to work..but when day trading I can do 200 shares many times a day."


Thanks.
Eddie
More...

That is the real money accout i have at Scottrade, which I have drained to almost o nothing, because I have to pay for this appartment (still have no job), but I have done some day trades on my real money account, but I was limited to 3 trades a week. gay.

cm
 
Hey "Cash money six niner" question to you.

From the 2 choices below: What "SIN" is the worst act that some of these Prop firms commit against their traders????

1. Holding traders initial deposit for an entire year ???

2. Not paying traders this months profits until the 20th of the next month.
 
Quote from timcar:

Hey "Cash money six niner" question to you.

From the 2 choices below: What "SIN" is the worst act that some of these Prop firms commit against their traders????

1. Holding traders initial deposit for an entire year ???

2. Not paying traders this months profits until the 20th of the next month.
More...

I dont trade prop, but I'd say #1, because it can really hurt someone if the were to need their capital for expenses.
 
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