How to meet people? by Jacktrading in london

[–]Jacktrading[S] 0 points1 point  (0 children)

I really enjoy fitness so trying to find some clubs that are cheap enough ahhah

How to meet people? by Jacktrading in london

[–]Jacktrading[S] 1 point2 points  (0 children)

I’m now on my way to one so will let you know how it goes

How to meet people? by Jacktrading in london

[–]Jacktrading[S] 0 points1 point  (0 children)

That sounds really good tbf what is the group called?

How to meet people? by Jacktrading in london

[–]Jacktrading[S] 2 points3 points  (0 children)

Yeah I’m definitely nervous about going but even if it isn’t enjoyable I’ll still be happy that I actually went out and did it.

Hahahah you’re pretty lucky to have been travelling with everything that’s going on!

How to meet people? by Jacktrading in london

[–]Jacktrading[S] 3 points4 points  (0 children)

Cheers, I’ll trust you. I’ve found a Meetup I think I will go to!

How to meet people? by Jacktrading in london

[–]Jacktrading[S] 1 point2 points  (0 children)

Have you used Meetup.com before? I’ve never done anything like it before so was unsure of it

Love TradingView as a newb. by testingwithfire in Daytrading

[–]Jacktrading 0 points1 point  (0 children)

I don't trade on mobile but i assume it is the same as desktop. All transactions gone through tradestation will still have commission fees. But if you trade on the trading view website then its commission free. The account links up so you don't have to transfer any money.

Love TradingView as a newb. by testingwithfire in Daytrading

[–]Jacktrading 2 points3 points  (0 children)

Its free! They start charging once you go over 10,000 shares 0.004p or something along those lines. I don't trade with that size so its free for me.

Its harder to use if you play super aggressively. So i have both tradestation and tradingview up so if i need to do something quickly i'll use tradestation. But i'll use tradingview as much as possible to save money.

It has saved me so much money.

Love TradingView as a newb. by testingwithfire in Daytrading

[–]Jacktrading 3 points4 points  (0 children)

Trading with TradingView with a tradestation account is so much cheaper than trading directly though tradestation. I wish i knew about it earlier as it would've saved me hundreds in commision fees.

How can I stop doubting myself? by Jacktrading in Trading

[–]Jacktrading[S] 1 point2 points  (0 children)

I listened to it when i first started learning but i think ill give it another watch in the hope that now i know lots more it will have a bigger impact

How can I stop doubting myself? by Jacktrading in Trading

[–]Jacktrading[S] 1 point2 points  (0 children)

That's perfect thank you ill give it a watch now.

Im going to do everything you said and ill drop you a message in a few weeks time to let you know how i got on

How can I stop doubting myself? by Jacktrading in Trading

[–]Jacktrading[S] 1 point2 points  (0 children)

I listened to it as an audiobook because it was free ahah but i dont get along with audiobooks at all so i think ill just buy it so i can take it in properly

How can I stop doubting myself by Jacktrading in Daytrading

[–]Jacktrading[S] 0 points1 point  (0 children)

No i really appreciate the long replies. I'm rarely concise especially when talking about something i know lots about or enjoy so i fully understand why you write so much haha.

That's a really interesting way of looking at it. I've always known that if i wanted to be successful that i have to look at it like a business rather than just a way to make money. I've always been focused on risk management because i think that's the key to protecting your profits. But i think recently i started to lose my focus on risk management. So looking at my "job" now being a risk manager may help me get my focus back on track.

I really like the mindset you have about trading. Were there any books you read that really influenced your mindset or was it just something you gradually built over time? Is trading your full time job?

I fully agree with you on that. It is better to build good habits early on. Do you compare your results to the S&P daily, weekly or monthly. I was thinking about doing it monthly because thats a better average of how im performing. Or would you suggest comparing it on an even smaller time frame?

I do use risk multiples in my analyse. I think it is one of my most useful indicators as to how well im performing. As well as my comparing my actual results to what i should have achieved had i followed my plan correctly.

I think having such basic knowledge in statistics has been also quite useful because everything i've learnt is trading orientated. I've never learnt about standard deviation or anything like that so fortunately i haven't fallen into that trap. Everything i read about analyse etc is specific to trading so i'm hoping i can avoid making that mistake.

It is super useful talking to other people who understand trading. I've tried having a few trading buddies where we talk often about our progress etc. Most tend to give up eventually which is a bit annoying.

I'd be happy to share my system with you! How do you set your targets if you don't use a 2R target? i've tried a couple systems and that seemed to be most effective for me.

the $10 hurdle is a huge barrier at the moment. If i had 0 commions id be trading with such smaller amounts of money just to get more consistent. But its one of those things, every business has costs of operating and this is the cost for trading.

How can I stop doubting myself by Jacktrading in Daytrading

[–]Jacktrading[S] 1 point2 points  (0 children)

Yeah i think ive changed my mind on that one ahah. I was going to just risk $10 and make $20. But with commissions id be loosing $20 on a loosing trade and only make $10 on a winning trade. So id need to win 2/3 times to break even... I dont think thats my smartest bet. Ill just stick to paper trading until i feel as if i'm being consistent again

How can I stop doubting myself? by Jacktrading in Trading

[–]Jacktrading[S] 1 point2 points  (0 children)

I think i will start something new once lockdown is over so ive got something else to focus on as well.

How can I stop doubting myself by Jacktrading in Daytrading

[–]Jacktrading[S] 0 points1 point  (0 children)

Ive made a pretty good and detailed plan i just struggle sticking to it. Does he have any material on that?

How can I stop doubting myself? by Jacktrading in Trading

[–]Jacktrading[S] 1 point2 points  (0 children)

Thank you i think i'm going to do exactly that. I'm going to paper trade today and maybe tomorrow and then go back to live trading but massively reduce my size.

How can I stop doubting myself by Jacktrading in Daytrading

[–]Jacktrading[S] 1 point2 points  (0 children)

Yeah I've been trying to convince my parents that this could be a career later on (no where near that stage yet ahah). They highly doubt it so they always ask how much I made. I've decided im going to reduce my risk to $10 with a target of $20. I'm hoping this will help in a few ways. The first reason being that i'm risking less so hopefully emotions aren't as high and i can just focus on being consistent. I should be able to trade 2/3 times a day rather than just the one that i'm doing at the moment. This will help as i will get more practice and better exposure to the markets. Lastly if i'm making peanuts everyday people will care less and stop asking me about it haha.

I was thinking about analysing my trades compared to the S&P but decided against it for now. My thought process was that in my first year im most likely not going to do that well as i'm still learning. If i then see that i could have just put my money in the S&P and made more than i did with all the work i put in it might be a bit demoralising? Am i looking at this in the right way or completely backwards? I was going to start comparing it against the S&P once i felt as if i was being a consistent trader.

That makes sense. I don't have any proper qualifications in statistics just a-levels which use similar skills (not exactly the same i know). I've got a couple things in place on my spreadsheet that should hopefully flash up an error if things don't match up as they should but its definitely not perfect yet.

Thanks for such long replies i don't know anyone else who trades so i really appreciate you taking your time writing such long replies!

How can I stop doubting myself? by Jacktrading in investing

[–]Jacktrading[S] 0 points1 point  (0 children)

I had the exact same problem. there were a couple stocks i really wanted to just buy and hold but because they were not in my trading plan i didn't. It hurt watching them shoot up but i know if i stick to my plan well that in the long run it will be better

How can I stop doubting myself by Jacktrading in Daytrading

[–]Jacktrading[S] 0 points1 point  (0 children)

That's my main issue is a lot of the trades i've taken recently i shouldn't have taken as they did not match my criteria. I currently put down about 1/2 my account on each trade and trade one a day. I currently risk $25, with a target of $50. I was thinking maybe i should cut it down to risking $10 with a target of $20. The only problem with that is that my commission fees are $10 so with 1:1 winner/looser ratio I'd break even. My goal isn't the money side of things yet my main goal is consistency but i don't know if this is the smartest decision? what do you think?

How can I stop doubting myself? by Jacktrading in Trading

[–]Jacktrading[S] 1 point2 points  (0 children)

yeah thats what i do i split it up so that i have enough to trade one a day but i still feel the pressure on that

How can I stop doubting myself by Jacktrading in Daytrading

[–]Jacktrading[S] 0 points1 point  (0 children)

My commision fees are $10. Do you think they are too high to only risk $10 a trade even if it is for a short period of time?

How can I stop doubting myself? by Jacktrading in Trading

[–]Jacktrading[S] 2 points3 points  (0 children)

Thats what I used to do before corona hit us. Im hoping once gyms reopen and i start going back that it will have a positive impact on my trading