YT is a trading machine at a very young age. I didn't get into this stuff till I was about 40.
I suspect he is going to be a very successful dude.
I suspect he is going to be a very successful dude.
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Youngtrader's Commodity Journal
- Thread starter youngtrader
- Start date
Quote from Joab:
LOL
First off let me say I have always enjoyed your posts, you have a lot of common sense for a young trader.
I think common sense is the most important quality for any trader to have.
Secondly, I would caution you not to place all your eggs in one basket with the equities markets especially penny stocks.
Your learning and that is excellent but learn with small trades and at your age I do mean small, like $500 max per trade.
Best of trades to you !!!
Joab
I appreciate the advice. I only have a few k invested in this SPNG stock (which is a very small amount compared to what a normal 18 year old kid would have considering a normal 18 year old account size........did I just say there is such a thing as a normal 18 year old trader? lol)
I find equities extremely exciting and potentially rewarding as with any market. However this is more of a longer term investment (2-5 years) and I expect it to be a good one at that! You can't keep a good stock down!
Quote from startraitor:
Youngtrader,
Is that you Magnus Greaves refers to on pg 16 of September Trader Monthly magazine?
"....This young man is 17 years old. He is in high school in Iowa. And he trades European bond futures quite successfully from 3 to 7 o'clock every morning before he goes to school..."
Yes it is........Magnus is a good friend of mine and is very knowledgeable as far as trading career decisions go (I have asked for his advice multiple times in that area).
However I have yet to recieve this months issue? I know mail takes a little longer out here in the boondocks of Iowa but this seems like its taking longer than usual. The 30 under 30 is always an interesting read to say the least!
It's the rural route system, not friendly to presorted mail. I was rr6 box 223!
Quote from youngtrader:
Yes it is........Magnus is a good friend of mine and is very knowledgeable as far as trading career decisions go (I have asked for his advice multiple times in that area).
However I have yet to recieve this months issue? I know mail takes a little longer out here in the boondocks of Iowa but this seems like its taking longer than usual. The 30 under 30 is always an interesting read to say the least!
Quote from malice:
hey YT, could you elaborate on that a little? Do you mean the Level 2's?
BTW which broker(s) do you use?
Sure
The equity equivilent to the futures orderbook is called the level 2
I think it is a little more transparent because of the fact that their are little symbols on the sides of the book that tell you who is bidding or offering (granted I said a little better because they can still spoof the shit out of you!)
I wish the futures exchanges would do something like that. So you would be able to tell if its a local or paper doing something.
I use tdameritrade for my equity trading
YT
Quote from youngtrader:
Sure
The equity equivilent to the futures orderbook is called the level 2
I think it is a little more transparent because of the fact that their are little symbols on the sides of the book that tell you who is bidding or offering (granted I said a little better because they can still spoof the shit out of you!)
I wish the futures exchanges would do something like that. So you would be able to tell if its a local or paper doing something.
I use tdameritrade for my equity trading
YT
what about your futures/options on futures brokers?
I do most of my trading through a small brokerage in Minnesota but like with my eurex scalping I trade through a discount broker.
lol I get that question a lot and could never quite understand why. What difference does a broker make? I mean yeah you want one with decent commisions and a reliable platform but other than that how does a broker really make you a better trader lol!
Not making fun, just have always wondered about that question.
Still short my beans and feeling great! Thinking about selling a nov/jan bean spread tomorrow around 13. Spread popped hard over the last day or so and its really unjustified especially with fc stone coming out and upping bean yields today. No reason for nov to be trading that much stronger over jan and I expect it to settle back a little as we near harvest.
YT
lol I get that question a lot and could never quite understand why. What difference does a broker make? I mean yeah you want one with decent commisions and a reliable platform but other than that how does a broker really make you a better trader lol!
Not making fun, just have always wondered about that question.
Still short my beans and feeling great! Thinking about selling a nov/jan bean spread tomorrow around 13. Spread popped hard over the last day or so and its really unjustified especially with fc stone coming out and upping bean yields today. No reason for nov to be trading that much stronger over jan and I expect it to settle back a little as we near harvest.
YT