What are
/r/Daytrading's
favorite Products & Services?
From 3.5 billion Reddit comments
The most popular Products mentioned in /r/Daytrading:
The most popular Services mentioned in /r/Daytrading:
TradingView
finbox
Schwab
Discord
Trustpilot
thinkorswim
Z-Library
Sci-Hub
Udacity
SemanticScholar
Screencast.com
Shutterstock
ImgBB
Shiftit
Headspace
The most popular Android Apps mentioned in /r/Daytrading:
The most popular VPNs mentioned in /r/Daytrading:
The most popular reviews in /r/Daytrading:
- I would focus on gathering up 25K first before considering daytrading. So for now, maybe work for a year or 2, save up as much money as possible and buy blue-chip growth stocks like Tesla or one of the fast growing tech stocks to hit 25k. I started off with 20k account in 2017 and hit 200k+ in 2020, without adding any money to the initial 20k.
- Read this book : https://www.amazon.com/How-Day-Trade-Living-Management/dp/1535585951. Ask anyone here for a book and this is what they will tell you. Ypu can find a pdf of it online.
- Use ThinkOrSwim's paper trading account to simulate a real life daytrading scenario. Sign up for an account with TDAmeritrade and you will get access to this software for free. This lets you discover how greedy, fearful, irrational, undisciplined, angry, excited you truly are as a person.
- I personally made more money just letting my investment account grow than daytrading. The taxation is more favorable for long-term capital gains and I can control how much taxes I want to pay for the year by limiting the number of stocks I sell.
- Daytrading is a realistic way of making a living. In fact, the more money you have the more realistic it gets. Scalping 0.5% everyday from a 10k account is only $50. But if you have 100k that becomes $500. 1M is $5k a day. What's unrealistic is expecting to turn $100 into $1M in 1 year, like some of the fake gurus online.
Jump to #6
​
StreetSmart Edge® has a HTB indicator to let clients know that shares of a security are HTB for shorting. However, the absence of the indicator for a particular security does not guarantee that it will be available to sell short. If you have further questions about the availability of a particular security to sell short, please contact a Schwab representative.
> contributing to my 401k or IRA accounts with the income that I make from day trading.
>
> I don’t have an intention to day trade and withdraw capital gain from these retirement accounts.
If I read your question correctly you want to make money daytrading and then put that money into an IRA. Only earned income can contribute to an IRA.
Your wording and explanation of your example is really confusing. I can't actually make out what you're trying to ask here. There's a pretty good example and explanation of wash sales here: https://www.schwab.com/resource-center/insights/content/a-primer-on-wash-sales
Margin borrowing and a margin account are two different things. Robinhood only offers margin accounts, where you can enable or disable margin borrowing.
When you sell a stock, there is a period called "Settlement" where your funds are unavailable for two business days after your place the trade. This happens with every broker. Margin accounts allow you to avoid this delay by taking the funds on margin until they settle. That's why you can sell something on Robinhood and immediately use that money to buy something else.
You cannot turn that off on Robinhood, no matter how hard you try. They only offer that kind of account.
A cash account, like the one that ToS offers, does not give you quick access to funds after sales. Instead, you have to wait for your cash to completely settle (+2 business days after every trade) in order to re-deploy that capital. This kind of account is not subject to the PDT rules because you are not trading on borrowed cash (even though you will always be able to pay the borrowed cash back to RH since they don't give you any more than your sale price).
That's also why the PDT rule is a rolling 3-day period. It's allowing your cash to settle before you make any more daytrades.
Hope this makes more sense.
A couple months of paper trading and recording each trade to review afterwards. I just created a discord channel because I like talking to others. You’re welcome to join https://discord.com/invite/3BCeBVg
Trading in the Zone by Douglas— good read too.
Also, What I learned losing a million dollars. The best book out there entirely dedicated to the psychology of trading around a system, defining your rules, and eliminating all the common trading errors that lead to blowing up an account, including position sizing.
https://www.amazon.com/Learned-Million-Columbia-Business-Publishing/dp/0231164688
Agreed. Watch prints and tape at key levels such as 15 min swing highs / lows or daily levels.
You’ll eventually figure out what’s a big order on the tape or a big sale on the prints. With lots of repetition, you’ll understand what weakness and strength on the tape look like.
Here’s a slideshare that will get you started in the right direction:
https://www.slideshare.net/mobile/jcastellon2/tape-reading-101
Just remember, no book or video will benefit you as much as watching the tape yourself.
Hello, Dear Redditor! For your questions' nature, I think you could benefit from backtesting your trading strategies.
There are plenty of free tools that you can use to manually add candles from the past to test your trading strategies without putting your capital at risk. Personally, I focus on setting up stop losses in candles with price action (candle confirmations) and then extend my take profit from 2:1 to 3:1. So, trading with a $10k capital, I would lose $100 at stop loss and profit $200-300 at take-profit
Many times the price reaches levels beyond my take profit. However, I don't care because I know I am constantly earning 3 times what I am willing to lose. Using simple risk management strategies like this one could help you become a profitable trader in the long run, and don't be afraid of taking your profits anymore!
A new youtube channel called Real Backtesting shows you how to use the Bar Replay Mode in tradingview.com to test your trading strategies for free. They also share profitable risk management strategies that you can consider applying in your trading system since I sense some doubt and fear in you!
Have an excellent trading journey, dear Redditor! You came to ask the right community!
In the trading world, especially if you are a daytrader or swing trader, emotions will influence your decision-making process, probably every trade. I am not only talking about FOMO or FUD; I also refer to knowing when to stop trading once you hit a % of losses, knowing that even if you are up 3/5ths of your take profit, you will hold for your trade to execute, or even not accepting a stop loss because you are in a winning streak
and INFINITE more!...
The only way to fix the previously mentioned problems goes way beyond the financial, fundamental, and technical knowledge but relies purely on self-coaching/mentorship. Finally, the only way to provide endless coaching to yourself without putting your capital at risk is through backtesting. - And this is 100% certain
I always keep it super simple when backtesting. I go to tradingview.com and use the bar replay mode and add the candles one by one. I try to back-test every single active and commodity available, and I also like to back-test multiple strategies for fun and testing.
> If I am using cash am I still tied to the PDT rules (3 trades in a 5 day span?)
No. But you need to follow T+2 rules
Go checkout this book "Trading in the Zone".
INND
selling with amazon and walmart
legislative news coming soon on hearing aides
https://www.amazon.com/HearingVite-Designed-Formulated-Maintain-Hearing/dp/B0855J85JZ
This one is perfect. The others are more expensive but does practically the same thing. This model has 512 SSD. So it will boot up any program extremely fast... Connect an external monitor and keyboard to the laptop while at home if you can.
i got a 3 monitor stand that clamps to desk and it makes huge difference:
https://www.amazon.com/gp/product/B00BDT072S/ref=ppx_yo_dt_b_search_asin_title?ie=UTF8&psc=1
The Law of Attraction is real without question. Just do some due diligence. Your response simply justifies why only 1% of people are massively successful. Read the book Think and Grow Rich by Napoleon Hill and tell me if people like Andrew Carnegie "cant be trusted"?
Again, 4 months is not enough. I don't know what market you're trading in but I suggest trading simulations. Also, read into trading psychology.
If you are losing **every time** (according to your post), that means that if you do the opposite of whatever you're doing you can be winning most of the time. There's a good book "Best Loser's Win" by Tom Hougaard that can potentially help you. Tom Hougaard is a high-stakes trader. Check out his popular seminar video.
I truly believe trading is 35% technical, but like 65% psychological. You need to control your impulses and execute when you see a potential set-up. The thing about psychology is that it could only get you so far as you are willing to take it. It's about developing good trading habits and unlearning bad ones.
Could do something like this if he’s on DisplayPort: https://www.amazon.com/StarTech-com-Port-DisplayPort-MST-Hub/dp/B00XXPYTAG/ref=asc_df_B00XXPYTAG/?tag=hyprod-20&linkCode=df0&hvadid=198093101467&hvpos=&hvnetw=g&hvrand=3190466960198410362&hvpone=&hvptwo=&hvqmt=&...
I haven't read a book but I hear this one is good. Kind of newer too? https://www.amazon.com/Price-Action-Breakdown-Exclusive-Financial/dp/1530176743?source=ps-sl-shoppingads-lpcontext&ref_=fplfs&psc=1&smid=A3TJVJMBQL014A
I also recommend some psychology books about he market as well.
Two that really helped me are: Jim Cramers "Confessions of a street addict" Yes, it's by Jim Cramer, but it's not investing advice, it's him talking through his path into investing. Surprisingly good and interesting to hear how he started rather than the "BUYBUYBUY" stuff he does now.
Also, "Reminiscences of a stock operator" is IMHO, essential. It talks through the fictional (but based on real story of) Jesse Livermore, a notorious stock trader of the 1920's and his road to riches and ruin. It teaches you to look beyond "being smart" and how to think more about the larger picture. Great stuff that I re-read every few years.
Good luck!
I have a dry erase pad I write my daily notes on
Read this book. Security analysis has been around for almost 100 years and continues to be updated today. The majority of equity analysts have and would recommend this book. Don’t rely simply on technicals. Fundamentals+Technicals= Price
Perhaps a dumb question, and I’m not taking a position either way here given I don’t have expertise / understanding regarding licensing requirements and such.
The following suggests strongly that OP is Asmar: his twitter above plus the cameltrading website (specifically the bio with pix) plus some quick google searches (see shutter stock link below with an image of Asmar whose image looks like his camelback website profile pix, who is wearing a badge number that matches the twitter profile acct image). This plus other open source findings via google (a YouTube site, various interviews over the years, etc) seem to support OP’s credentials and experience claims and his statement that he traded on the floor.
Yet he can’t be found via FINRA.
Is there a scenario where he isn’t in FINRA yet his claimed credentials are accurate?
https://www.shutterstock.com/editorial/image-editorial/wall-street-bellsouth-new-york-usa-6463778a)
when I hit my last plateau... more like slammed into the last plateau. everything broke, and stopped making sense. i walked away from it all and just youtube my way until i found this book. i would not say it is an eye opener, or better understanding of yourself... blah blah blah.
but after going thru the book and the test, it kind of filters out what sort of information that would be revalent to me instead of trying to grab hold on and make sense of everything. if it doesn't fit my style/mindset, i'll just sit on my hands and let it pass. some days are meant to be quiet and be contented.
I haven't taken the plunge yet. But pretty sure I have decided on this one. Seems perfect and has been written up many times as a top monitor for trading. The OnScreen Control/screen split is handy for what we do. Already bought the swivel stand to attach to my current 27" turned 90* for vertical portrait mode to the side. That should do me. Had my first awful week past two days with options. While I can afford it, not going to reward myself for mistakes. Hoping for a green week and then I will reward myself :).
https://smile.amazon.com/gp/product/B07YGZ7C1K/ref=ox_sc_saved_title_1?smid=ATVPDKIKX0DER&psc=1
I really enjoyed and learned a lot from the Lance B videos and podcast interviews and YouTube SMB lessons that I learned about from our trading thread. There are hours of useful YouTube videos. I’m coming back to Day Trading after blowing up my account twelve years ago. I’ve been doing well, swing trading since Feb 2022. Now ready to put in many hours of study. So yes, very useful.
Here is what I learned from an AzMN review of SMB founder Mark B’s book, One Good Trade. They charge monthly user fees $1k-$2k. The reviewer quit after 3 months. Most do not stay longer than 6 months. He lays out the numbers that indicate the company makes its revenues from fees charged to traders, not from 10-20% commissions on trader realized gains, as one might assume.
The reviewer opened my eyes.
However, I am still considering buying the book One Good Trade. Other reviewers claim that book has lots of inspiring stories about self discipline, adopting healthy behaviors (sleeping well, healthy eating, exercise, meditation) that are useful in helping traders get into their i PU redo all best zone.
Hope this helps. Maybe you can take a look at the review.
The review from Michael is the review to which I am referring. 287 people found it helpful.
Going to difficult to communicate knowing you are several more order magnitudes above him on schooling. You can look for books on money and banking (college text) for pleasure reading understand inflation, interest, money supply and formulas. I will go online buy a used book. A glossary like so can not hurt.
Nothing wrong take a role do trade. Day trade is harder than people think. Few in this market is making the grades. More lose than gain because the market has been bearing for 8 months. Next year or two can be even worse.
I suggest he trades with his own money even he is successful. If you are not into trading hire a finacial planner or have a licenced planner look over your part often free. Never let him lose your money ever.
I am aware of multiple couples break up because of option play. Yes, I know leverage can make people wealthy and a few shot themselves because of huges loss incurred.
That's the thing with a setup. You need to take the trades, or you artificially bleed your edge.
Let's say your setup has a win rate of 50%. Over 100 trades, you'd expect 50 roughly to be winners. But what happens if you only take 75 of the hundred trades, and the 25 you didn't take were winners? Well suddenly you have a 33% win rate.
This is why Mark Douglas drills that "when your setup presents itself, there is nothing to think about. Just take the trade".
Some will be winners. Some will be losers.
You can never predict what the market will do. What you can do is identify areas where the market is likely to react. There are lots of different methods for doing this. Trend lines, fib levels, identifying trapped traders, supply and demand, volume profile, market profile, etc. Doesn't matter what tool you use. What matters is that over time the probability of price reacting at your level is high.
Once price reaches your level, it might break straight through. That doesn't mean the level wasn't valid. It means the trade didn't work.
The only ways to improve the accuracy are (1) to be more discerning about your setup, (2) take every trade presented by your setup (3) use orderflow tools to identify in real time how market participants are reacting to your levels.
I would suggest purchasing this book. It will teach you a lot about these concepts and topics, and is an easy read:
Volume Profile, Market Profile, Orderflow: Next Generation of Daytrading
Sounds like you could use this book:
https://www.amazon.com/Daily-Trading-Coach-Becoming-Psychologist-ebook/dp/B0023SDQRG/ref=nodl_
Was in a similar situation earlier this year where I took a big loss and lost all confidence due to not being able to read the recent volatility properly. Trying taking a break and focusing on the basics. It sounds like you need to work on psychology more than anything else:
Taking a week long break and reading this book combined with some increased journaling efforts turned it all around for me.
I wish I had read this book when it first came out and understood how necessary the simple rules spelled out really are. Book is super dated but the basic idea are still good stuff. Keep mind that the market moves like 10,000 times faster now
https://www.amazon.com/Stan-Weinsteins-Secrets-Profiting-Markets/dp/1556236832
Amazing book by Nison with quiz and test questions. Changed my life! I wish I read it sooner!
The best Steve Nison book by far. It changed my life!
I now use my iPad and AirPlay it as a second monitor but I used to use: https://www.amazon.com/Portable-Monitor-Duex-Extender-Compatible/dp/B092LRR8HT/ref=sr_1_5?crid=1IZVXD183OG9A&keywords=portable+screen+for+laptop+attach+mac&qid=1645069221&sprefix=portable+screen+for+laptop+attach+mac%2Caps%2C138&sr...
I actually rely on multiple sources but some more than the other of course.
Microsoft Money is first, I basically use this for the live tile which displays info about some of the most common markets I'm active in and they also have a new channel. It's not superb but it helps keep me informed.
For more specific info I rely on the investing.com website for which I got myself a subscription. I specifically appreciate their financial calendars which give you a very complete overview of all upcoming financial events and these also get rated by their importance. In addition their mobile app can trigger alerts based on your watchlist whenever a market is at an all time high or low.
Finally TradingView.com , which I think pretty much every trader is probably aware off. I mostly use this to get a better perspective on certain markets through use of their charts but I also appreciate their rather extensive background information about the companies which are on said markets.
And that's roughly it for me.
Here’s an article from Charles Schwab. I clipped out a section that has an even better example. This is even easier to understand and the last section says in plain english how the loss is realized for wash sales.
https://www.schwab.com/resource-center/insights/content/a-primer-on-wash-sales
Here’s an example of how this might work:
Let’s say you buy 100 shares of XYZ stock for $10 per share ($1,000 of stock). One year later, the stock starts dropping, so you sell your 100 shares for $8 per share—a $200 loss. Three weeks later, XYZ is trading at $6 per share and you decide that price is too good to pass up, so you repurchase the 100 shares for $600. This triggers a wash sale.
As a result, the $200 loss is disallowed as a deduction on your current-year tax return and added to the cost basis of the repurchased stock. That bumps the cost basis of your $600 of replacement stock up to $800, so if you later sell that stock for $1,000, your taxable gains will be $200 instead of $400. And because you previously held XYZ for a year, it will automatically be treated as a long-term capital gain, even if you sell it after just a few months.
A few other things to note: A higher cost basis decreases the size of any future gains realized from the sale of the replacement security, thereby lowering your future tax obligation. If you sell the investment at a loss, the higher cost basis would actually increase the size of the loss for which you could claim a deduction.
I'll suggest you get through to Fastfundsrecovery at Protonmail.com to help recover your funds back from unscrupulous brokers and platforms . they just assisted me in getting 92% of my funds back some weeks ago. i hope this helps if you are in similar situation as i was
Idk if anyone uses coda, but here's a similar document that I have been evolving for a few months now. The current iteration has some key stats that I like to track on my trading over time. Here's a link https://coda.io/d/Trading-RR_dQCYphoLwQ4
​
Also please ignore my abysmal stats so far this month
I left California last August for Europe, have not had any problem trading on my Samsung Note using mobile internet. I love that usa pre - market starts @ noon. You have to have VPN installed ! I paid 50 bucks for Ivacy VPN for 2 years, always pick San Francisco location in the VPN
Charles Schwab is often highly recommended when it comes to ETFs. Here's a comparison between ETFs and Mutual Funds: https://www.schwab.com/etfs/mutual-funds-vs-etfs
There's many other resources that explain ETFs on that website, all other broker websites, investopedia, etc.
They also have free customer service 24/7.
So Stripe charges 2.9% before volume discounts and you think you can make a profit giving back 3%. ROFL and 2.9% is not even that competitive. Thats not even accounting that Stripe has to pay royalties to V/MC and a percentage back to the issuing bank. Then account for chargebacks and fraud not paid by the merchant, or merchant fraud. So please let us know how you can be profitable giving 3% back to the consumer from fees taken in.
​
Candlesticks:
Great book that goes over everything you need to know about candle sticks.
Chinese brokerage comply to both Chinese and US laws. Changsha, Hunan (Mao's) home town. They have a small office in NYC. It does have proper insurance as many of these brokerages are often bought out or getting audited for irregularities. If you are a private person I suggest you avoid it. Young people like the perks do not mind the Chinese cybercop looking through everyone's affair. Their reviews.
Just in case anyone wants to know this screenshot is from a Reddit client called Traddit
Android: https://play.google.com/store/apps/details?id=com.bytmatic.traddit&hl=en_US&gl=US
iOS: https://apps.apple.com/us/app/traddit-for-reddit/id1593956528
note: that is for chart viewing
- great chart tools
- general market analysis are pretty good and easy to access
- pretty cool trader community providing shared insights
- plethora of open-source custom "pine-scripts" that can be applied to
your charts with ease! as well as you can create your own.
- as for broker connections and trading
(am a trading thru tradingview with forex.com and poloniex.com)
not enough to provide clarity though. early days so far so good but
lets how its goes??
It's called making brackets. There'll be a profit exit and a loss exit. It depends on your broker if it'll let you do it, but while setting up a sell order look for special options, you have to do it all in one go.
Here's how I do it on my broker app. https://www.schwab.com/public/schwab/nn/bracket_orders_in_SSE.html
You can't buy the VIX directly, you can only trade futures contracts. https://www.schwab.com/resource-center/insights/content/vix-etfs-facts-and-risks
I guess what im really wondering is if the loss from the previous purchase can in fact be carried over into the purchase of the same stock. im not exactly sure about the mechanics of this on the tax forms, but it sounds like if i purchase 10 shares at 2.50 a piece and sell at 2.40. then rebuy 10 at 2.40 and sell at 2.50, when i report i should be able to say for that last transaction that i effectively bought it at 2.50.
Specifically, I am looking at this: https://www.schwab.com/resource-center/insights/content/a-primer-on-wash-sales
​
>Let’s say you buy 100 shares of XYZ stock for $10 per share ($1,000 of stock). One year later, the stock starts dropping, so you sell your 100 shares for $8 per share—a $200 loss. Three weeks later, XYZ is trading at $6 per share and you decide that price is too good to pass up, so you repurchase the 100 shares for $600. This triggers a wash sale.
>
>As a result, the $200 loss is disallowed as a deduction on your current-year tax return and added to the cost basis of the repurchased stock. That bumps the cost basis of your $600 of replacement stock up to $800, so if you later sell that stock for $1,000, your taxable gains will be $200 instead of $400. And because you previously held XYZ for a year, it will automatically be treated as a long-term capital gain, even if you sell it after just a few months.
Since you asked about Robinhood, I'll speak to that specifically, but note that this applies to most other brokers as well.
On Robinhood, you can place several different types of orders. A Market Order will fill at whatever prices are available right now. So let's say there are currently buy orders (other people who want to purchase shares) as follows:
- 300 shares @ 3.09
- 200 shares @ 3.06
- 139 shares @ 3.05
- 50000 shares @ 3.00
You put in a market order to sell 1639 shares. Robinhood will then sell all of your shares at the best available price. In this case, 300 shares will be sold for 3.09 each, 200 for 3.06 each, 139 for 3.05 each, and the rest (1000 shares) for 3.00 each.
In that example, you'd receive (300*3.09) + (200*3.06) + (139-3.05) + (1000*3.00) = $4962.95
​
For that reason, it's usually better to use a Limit Order over a Market Order. With a Limit Order, you specify a minimum price for your shares, and Robinhood will only sell them at that price or better. In our example, if you put a limit order in for 1639 shares @ 3.09, you would sell 300 immediately, but the rest wouldn't be sold until someone was willing to buy shares at 3.09 again.
​
Also note that Robinhood lacks a lot of features relevant to day trading (like being able to define a stop loss and an exit point at the same time). You may want to look into some other platforms, and compare.
tradingview.com has DOM, so if you have subscription to level 2 data, you can view it there. Also I use Sierracharts, that has all the tools one needs, unfortunately the UI looks like windows 3.1 a bit.
Another software that might do the trick for you is quant tower - I have not tested that myself.
I agree... I have to watch things very carefully and understand there's a huge learning curve here... my amount invested is 10% of my net worth, so I'm currently playing with the markets, learning, analyzing, watching... I'd really like to learn more about options and how to buy protective puts (?), see if there are ways to protect myself from losses other than selling to exit the 'investing train'. Any suggestions would be greatly appreciated! Currently, my biggest problem is in trying to decide which stocks to sell... it's become really difficult for me, and in trying to do research to sell stocks, I end up discovering others I'd like to buy, argh! I'm using the following tools: TipRanks.com, TradingView.com, and Merrill Lynch MarketPro which is a bit like Bloomberg Terminal.
Hello, Dear Redditor! For your questions' nature, I think you could benefit from backtesting your trading strategies.
There are plenty of free tools that you can use to manually add candles from the past to test your trading strategies without putting your capital at risk. Personally, I focus on setting up stop losses in candles with price action (candle confirmations) and then extend my take profit from 2:1 to 3:1. So, trading with a $10k capital, I would lose $100 at stop loss and profit $200-300 at take-profit
Many times the price reaches levels beyond my take profit. However, I don't care because I know I am constantly earning 3 times what I am willing to lose. Using simple risk management strategies like this one could help you become a profitable trader in the long run, and don't be afraid of taking your profits anymore!
A new youtube channel called Real Backtesting shows you how to use the Bar Replay Mode in tradingview.com to test your trading strategies for free. They also share profitable risk management strategies that you can consider applying in your trading system since I sense some doubt and fear in you!
Have an excellent trading journey, dear Redditor! You came to ask the right community!
Well, Backtesting is the process of manually adding candlesticks to test a trading strategy infinite times without putting your capital at risk. I suggest you watch the videos from the Real Backtesting Youtube channel. He shows you how to use the bar replay icon in tradingview.com and shares a simple trading strategy with proper risk management.
More like requirements.
For me that is avg price 5$>
And lots of volume.
You can screen on finviz.com and on tradingview.com for pre market.
Hello! You can backtest for free using the"bar replay" mode in tradingview.com. If you want to learn how to use the bar replay mode in tradingview, I recommend you watch the Real Backtesting youtube channel.
​
Thank you!
Curious what people would recommend for a reliable charting service that provides 1s ticker charting. I've been using tradingview.com which is decent overall but has more frequent hanging/pausing in the updates to the charts than I'd prefer. I don't mind paying a hefty service fee if I can get reliable real-time charting. Thanks in advance for any recommendations!
I feel you. This week's been a painful learning experience for me.
- Lost my setups in Yahoo Finance and TradingView.com a few times. (It's so annoying that their free services are better than what my brokerage offers!)
- "Learned the hard way" about trading with unsettled funds. At least it "only" cost a few $$$$, instead of many $$$$$.
- Reminded about Cost Averaging, Buying in Thirds.
- Learned about identifying blantant market timings of buying low near or after market close, selling after market open and first downturn with volume.
- I worked hard all day today doing day trading for less than $20/hour. Still beat DJIA each day this week.
As long as your deposit is below 100k usd you will have an account fee of 10 usd/month. Sucks, but you get something of value in return: proper broker, nearly all markets/instruments accessible/able to trade. TWS is their platform - execution can be done via TWS, web portal, mobile app. Personally, I do chart analysis via tradingview.com - charting in TWS is not good.
I second this. I use them for charting and use interactive brokers for execution. I did notice that TOS was slightly lagged when compared to tradingview.com. I stuck with them for charting just because I'm use to all of the tools and navigating the platform. I also really like tradingview as well, it's a really good web based charting platform that offers both a free and premium version.
Tradingview.com is a really great tool. I pay for it because I use some of the most advanced features, but if you're Swing trading (paper) it's really good. And it's great in general for charting.
There is already a company Cityfalcon, aggregating news, I came across this one through meetups and since then I am using it. They provide personalised financial news, content, and analytics for investors, traders, and anyone requiring access to relevant, high-quality financial information. They convert unstructured data into structured data using natural language processing (NLP) and then personalise it. They also utilise voice and chatbot technologies for a handsfree experience. Currently, I create my watchlists based on stocks I track, sector news and some financial topics like FED and Economy. They announced location-based news and company filings as well. Pretty cool concept, especially for those who want to escape the clutter/ads/twitter junk and just want to focus on the financial news + they have API for enterprises as well. I use their iOS app (I attach a screenshot of how it looks) very neat and clean I love it! Their premium version is very cheap compared to the last news provider I was using. :)
https://www.tdameritrade.com/tools-and-platforms/thinkorswim.page
Thinkorswim is TD’s trading platform. It’s where you’ll be doing most if not all of your trading. You can also do simulated trading (TD calls it papertrading) where you can practice making trades with fake money.
I’d recommend taking a few weeks to get familiar with the platform, learn how order types and executions work, learn some technical analysis (charts and indicators) and see if you can turn a profit papertrading.
Keep in mind though most of your learning experience will be seen when you start trading live, so get comfortable enough, start small, and jump in.
Two tools to rule them all
Thank me later when you made the first mil
Save me a lot of headache from bad moves
LAC and ALB are the Exxon of this generation
Any of you autist used this site:
Save me a lot of headache from bad moves Also
[options profit calc](optionsprofitcalculator.com)
Thank me later on your first mil...
Don’t fight the trend electric vehicles, FAANG, covid vaccine also LAC and ALB are the Exxon of this generation
Any of you autist used this site:
Save me a lot of headache from bad moves
Follow the trend covid, electric vehicles, and FAANG. Also
LAC and ALB are the Exxon of this generation
Any of you autist used this site:
Save me a lot of headache from bad moves
LAC and ALB are the Exxon of this generation
Any of you autist used this site:
Save me a lot of headache from bad moves. Bloodbath or no this site improved my trading...
Ohh, I see. I actually do use that for some apps but it only works in columns. I use ShiftIt to actually snap different windows into a grid layout so on my monitor I will typically use an extension that opens tabs in a window and then arrange them in a grid with Shfitit, essentially having 4 windows open at the same time. Try it out, works well.
I've found incredible success this year swing trading forex on the hourly to daily timeframe. Intraday trading be it forex or futures has always felt... unnatural and forced for me.
I listened to a few episodes of 'Chat with Traders' and a recurring theme successful traders would bring up is to trade your personality. I have only tried intraday futures in the entirety of my trading career. Turns out, my analysis works beautifully on forex. I'm able to identify [levels(https://www.screencast.com/t/UIKKq3s8) that work time and time again. Best of all, its very low-stress. These trades take days if not weeks to play out. I'm not constantly at the screen watching prices. I simply place my limit orders, check in every hour or two. Sooner if my alerts go off for certain prices.
I would personally get INFURIATED and OVERTRADE intraday trading futurex/forex/stonks. I've finally found my niche in forex though. I'm still learning and building my process. Making mistakes along the way, but somehow I'm making money. Imagine when I get my shit together after a couple more months! I wouldn't have found this out if I'd not look at other instruments (and had a valid trading methodology of course!) So do branch out of your comfort zone, if something is not working after a few months... Look at other instruments, timeframes, methodologies and especially your own psychology... but that's a whole 'nother can of worms.
Ok. I googled it. https://sci-hub.do/10.1145/3277139.3277161.
>Marshall et al (2006) [6] examined the profitability of the candlestick patterns. In their study, they used price data from 35 stocks in the Dow Jones Industrial Average (DJIA) for the period from 1992 to 2001. They found that candlestick patterns had no financial or financial value for the investors. Goo et al tested the performance of candlestick patterns on the Taiwan stock market from 1997 to 2006. They found that the best performing candle pattern in three to four days hold while the bullish pattern works best during a 9-10 day period [7]. Marshall et al (2008) [8] again examined the predictive power and profitability of candlesticks for a 10-day holding period. The tests were conducted using the largest 100 stocks on the Tokyo Stock Exchange between 1975 and 2002 by the same technique they have done in 2006. Finally, they concluded that the candlesticks had no predictive power as well as any profit on the Japanese stock market. Horton studied the profitability of eight candlestick patterns on 349 stocks, comparing their gains with buy and hold strategies. He concluded that the Stars, Crows, and Dojis candlestick models were not profitable [9]. Max Jönsson tested the predictive power of the candlestick pattern on the Swedish stock market between 2007 and 2015 for his bachelor thesis [10]. He pointed out that candlestick analysis was not of value for profit to investors on the Swedish stock market.
In general, they do via central installation which also makes a lot of sense for our company, but they don't have it where it does not make sense, and developer PCs are such cases. (The thought of not being able to install tools like Everything whenever I feel like it is a nightmare.)
Doesn't matter in this case though, I'm using the web traders of the three brokers I'm with.
It’s nice to have all the content organized on one module. I paid like $55 for a course when I started. It was mediocre but worth the $55. Link below. Some of these “gurus” charge thousands.
https://stacksocial.com/sales/the-2020-day-trading-technical-analysis-master-class-bundle
Read this:
https://www.amazon.com/gp/product/B0023SDQRG/ref=dbs_a_def_rwt_hsch_vapi_tkin_p1_i0
Thank me later :)
yer not gonna get one. this ticker w scrolling is on Amazon and Alibaba has it even cheaper
Increasing ram size could eliminate cpu's bottleneck. And more ram will let you open multiple applications at the same time. I would recommend going for 16gb. If you have 2 slots for ram, get exactly the same spec of 8gb ram to add.
For second monitor, this could be the good option.
I don't have it but you can travel with it.
forget al brooks (he talks a lot without really saying anything actionable), forget mack pats, and just pick up https://www.amazon.com/Art-Science-Technical-Analysis-Strategies/dp/1118115120
this is one of only two books that will teach you price action. the other one is lance beggs but it's pretty pricey for a book series.
If into the AI space, HIGHLY recommend one of Bostrom's books. He's like a 100 year out. I'm at the point now where I'm a true believer: this is nothing AI pretty much can't do. Give it time.
Superintelligence asks the questions: What happens when machines surpass humans in general intelligence? Will artificial agents save or destroy us? Nick Bostrom lays the foundation for understanding the future of humanity and intelligent life.
There is a "See the matrix" type thing that happens anytime you put enough time into a skill...
What's happened is that you have fully automated all your trading habits to the subconscious, the same way you can drive a car or ride a bike without "thinking".
There is a fantastic book "Mastery" by Greene that really goes into this process
https://www.amazon.com/gp/product/B007V65PBK/ref=dbs_a_def_rwt_hsch_vapi_taft_p1_i3
It's a great book...
​
This is the bible of TA
https://www.amazon.com/Technical-Analysis-Trends-Robert-Edwards/dp/0814408648
I also like Dr Elder's books. Come into my trading room is the one I can remember off the top of my head.
I'm assuming you're docked somewhere which means you can't just start plugging things in to the router that the dock has onsite? repeaters might help a little, but they're usually meant to indoor use, and require an power outlet midway between the router and your machine. Mesh wifi also requires you to plug things into the router. I would try something like a USB wifi with a big antenna like this one. https://www.amazon.com/Wireless-desktop-10-9-10-14-Archer-T2U/dp/B07P5PRK7J/ref=sr_1_3?dchild=1&keywords=usb+wifi+antenna&qid=1619527605&sr=8-3
It's cheap to try, can return easily if it doesn't work...I've used one in the past for a few months while staying with my in-laws after my first kid was born. It was just enough of a boost to prevent random drops while working.
I’m new too, and I settled on this one. I rented it, so if I want to keep it around for good (and I’m a bit of a book hoarder) I can. It seems like a pretty comprehensive overview, and a good starting place. Technical Analysis
I only have (3) of my (6) 27" monitors so far and I use (2) laptops docked to the bottom surface of my table. I am using a Logitech keyboard and mouse to flip between laptops. For the stand, I am using (6 Monitor Stand) and I highly recommend it.
FYI, source is the Price Earnings Ratio Stock Value Tracker app for Android: https://play.google.com/store/apps/details?id=price.earnings.ratio.stock.value.tracker
I went through the same decision process recently. After much reading and searching I went with one of these crazy powerful Beelink mini PCs that has a huge SSD, tons of ports, and supports up to 4 monitors for only $730, It works like a champ!
https://www.amazon.com/gp/product/B08GCS3G7V/ref=ppx_yo_dt_b_asin_title_o08_s00?ie=UTF8&psc=1
The computer you use doesn't matter all that much but I would recommend getting at least 1 extra monitor. If you do a lot of traveling you can get cheap portable monitors on amazon.
Hi,
When it comes to learning the basics of stock market along with technical analysis of stocks, options strategies etc. then I prefer just one learning app that is Elearnmarkets for everything that I want to learn about markets.
As a trader, I feel that learning should never be stopped. It is a continuos process. The app have range of courses, webinars and videos that are helpful for both beginners and experts.
Yes, learning is not enough, you need to do proper analysis of the market. Although, there are tons of stock market news app available online.
But after using many of them, I found StockEdge is one of the best best trading app which is 100% focused on research and analytics
You should give them a try!!
I have personally found this app very use full (it's called "market 24h clock" in case the link doesn't work) I like it as it's a visual option
Trading. Charts, excel and video calls.
Originally I was going to use my laptop but I’ll be using a computer I got as a gift. The computer I’m using has 1TB SSD 32 GB of ram And this is the video card: https://www.amazon.ca/dp/B07YYZGM51/ref=as_li_ss_tl?keywords=GeForce+GTX+1660+super&language=en_US&sr=8-5&linkCode=gs2&linkId=fb750fb609a35e4f6122b164a5426b62&tag=thtebusgu06-20
If you want something cheaper, something like this would work:
I have 3 32” curved screens and used this one
It works well. A little snug but after slight adjustments, I haven’t had to move anything for about 2 months now.
The Way of the Turtle by Curtis Faith.
While he had some personal failures when trying to run his own fund, the ideas discussed concerning backtesting, system creation, and risk management are very valuable for trend following systems.
This book may help you. It's fairly cheap as an Amazon Kindle version. Worth a read. https://www.amazon.co.uk/Complete-Guide-Price-Analysis/dp/1491249390/ref=mp_s_a_1_1?dchild=1&keywords=anna+coulling&qid=1593275345&sprefix=anna+coul&sr=8-1
Found this interesting book in amazon. https://www.amazon.com/dp/B083FXJHZB
It is a very short read, the first part of the book you probably heard a lot of times because it was about trading psych and how to approach trading. What is important is the 2nd part of the book which shows a sample trading system. The system was usable but there is a lot of room for improvement. It also has backtesting results which you can verify yourself because the indicators used are not custom. As the system may not be complete, it showed some profitable results.
Anyway, hope it helps!
Check out this one on amazon. It's got a few easy to follow day trading strategies in it and only £5. I liked it.
"The Ultimate Trading Guide" - Pruitt, Hill, & Lundy. by professionals in the (legit) financial industry. praised by Larry Williams. better than most intro books often recommended, imho.
idk what youre trying to do with the liquid cooling and others lol. Are you gaming. https://www.amazon.com/CYBERPOWERPC-Master-Gaming-GeForce-GMA8880CPG/dp/B07PKXGC33/ref=sr_1_6?keywords=ryzen+2700x+pc&qid=1572633884&sr=8-6
Something like this is good for stock trading apps and a bit of 1080p gaming...
Good luck!
If I may add — and please note that I have no idea where you are in your learning curve, so please disregard if this isn't useful suggestion —, there's a book a like a lot and recommend to every trader relatively new to the commodity markets (and more specifically futures, due to the mind-blowing amount of new possibilities compared to commodity ETFs, and the book goes over many of these amazing possibilities).
Mastering the Grain Markets: How Profits Are Really Made, by Elaine Kub: https://www.amazon.com/Mastering-Grain-Markets-Profits-Really/dp/1477582967
The author, Elaine Kub, has a great writing style, mixing some very technical stuff with some very nice personal stories of her childhood — she grew up on a family farm (that she still operates!), and has extensive experience as a grain merchandiser and futures broker.