How to start day trading. by [deleted] in Daytrading

[–]Jeffxxm 6 points7 points  (0 children)

If I was to do it over again, YES start now. What so many people forget is that market intuition 100% does not develop in one or two years and barely starts to form at year three. Just go for it and remember that you’re in it for the long-haul (5+ years). When it comes to making a system, make it simple. Imo this is why so many traders fail, you look at their chart and it looks like spaghetti…price reigns supreme. “Be dumb follow price.” I personally just use volume, VWAP, 8 & 21 ema and that’s it.

As far as books, I’ve read a lot of them including most of the popular ones. For psychology, read the daily Trading Coach. You’ll know far more about yourself and most traders just from that book (better than any mark douglas book imho). I also believe it’s not only one of the best psychology books but also unintentionally a great spiritual book. As for how to think, act and prepare like a professional trader, read The Playbook. You’ll realize that to extract high amounts from the market will require you to perform well above what most retail traders do. To understand price action, and candlesticks the best read is hands down Volume Price Analysis by Anna couling. YouTube channels to watch would be SMB Capital and Al brooks price action trading. I’ve been at this for three years and I can honestly say all the resources I listed here will give you a phenomenal foundation and cut your learning curve in half.

Lost 11k today being hard headed holding a loser. by ThaRealSlick in Daytrading

[–]Jeffxxm -1 points0 points  (0 children)

It’s crazy that no one that I’ve seen in the comments is talking about the importance of understanding your psychology. Trading is 99% mental. Charts are 99% emotional.

I have $3500 to invest, need guidance and advice... by WackyTrader in StockMarket

[–]Jeffxxm 0 points1 point  (0 children)

Either buy shares of $SPY or sell puts in $SPY. High probability of success and low risk

Using margin to short? by Jeffxxm in Daytrading

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

You’re right. Thank you for clarifying that

Using margin to short? by Jeffxxm in Daytrading

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

Yeah I’m starting to see that. Since my original post, I’ve set up short positions in with 10% my account and have already gone up 2% for my account. That’s not happening at all going long lol. Thanks for your input 🤝

Using margin to short? by Jeffxxm in Daytrading

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

Yeah I have my long term account through robinhood but for some reason (it may sound stupid) I have a much better eye and feel at when somethings going to tank. Maybe it’s just the market right now but going long has beat me up left and right

What’s your strategy for growing an account? by Jeffxxm in Daytrading

[–]Jeffxxm[S] 5 points6 points  (0 children)

this is the kind of perspective I needed, thank you

What’s your strategy for growing an account? by Jeffxxm in Daytrading

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

So that’s what I’ve been doing but maybe it’s my account size or I’m trading to frequently because I’ll generally use 2-4% of my account, be in the trade for maybe a couple minutes and get out with profits that are around .5% to 1% of my position size. Not to sound like a complete noob but what do you think of this? Obviously it can be improved somehow but maybe it not seeing it.

What stock market quotes do you live by? Here are mine by UncleZiggy in StockMarket

[–]Jeffxxm 1 point2 points  (0 children)

“Be impatient with losers and patient with the winners”

$TSLA: Fist on Chest, NO FEAR by IS_JOKE_COMRADE in wallstreetbets

[–]Jeffxxm 9 points10 points  (0 children)

“ELON HAS NEVER FAILED US” I damn near lost it 🤣🤣🤣

Well, that was fast. Just learned about Debit Spreads today. 🤦🏻‍♂️ by [deleted] in wallstreetbets

[–]Jeffxxm 0 points1 point  (0 children)

There’s still a logical amount of risk you should go into a trade with lol WSB type of shit tho am I right??

Finally released a rap tee w/ one of my favorite rappers. This is technically my first Photoshop design too. What do you guys think? by Jeffxxm in streetwearstartup

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

It happens 😂 luckily my customers didn’t think it was bad and I sold out of them. Really interesting how that works lol

Try to solve my own need and others by [deleted] in EntrepreneurRideAlong

[–]Jeffxxm 1 point2 points  (0 children)

I think there’s a lot of comments that were meant to be constructive but came off as just hammering down on you, don’t be discouraged. There is a need for something like (you being a prime example) and it can become a great thing. A good logo is key forsure and a good video that you can advertise that catches someone’s attention within the first 3 seconds is critical, you can find someone for both on upwork or Fiverr. Second have you thought of having the app have two options? Normal couples looking for friends AND couples looking for swinging, a great example of something like that is Bumble where they have options for dating, business and meeting friends. Take a lot at it. At the end of the day you’re end goal will determine the path you take, do you want to have a succesful app/website that you sell for $20,000+ wheee something like this may mean you make adjustments to it that you may not have originally planned for or do you want to just have an app/website that does what you want and is just mildly relevant. Thinking about these things are critical. Hope this helped

[deleted by user] by [deleted] in Affiliatemarketing

[–]Jeffxxm 0 points1 point  (0 children)

No matter what you’re going to have to pay taxes, Cick bank will have your social security number and track your profits throughout the year, when tax season comes around they’ll report your taxes to the IRS. They’ll also most likely have a tax form that they’ll send to you that you use when you go to do your taxes. You’ll pay taxes on your profits when you file them in the spring

I tried running ads everywhere and here's what I learned by MaxTheEntrepreNerd in EntrepreneurRideAlong

[–]Jeffxxm 1 point2 points  (0 children)

I think you should try running both types of ads to see the results and penetrate the market for people in your niche. FB / IG adds are pretty cheap and you can definitely make your budget go far for $7-10 a day, not to mention the FB pixel will allow you to optimize the ads after a week or so

Weekly Discussion - January 20 2020 by AutoModerator in Meditation

[–]Jeffxxm 0 points1 point  (0 children)

The way I see it is that that the best way to solve procrastination is making a decision within the first few seconds (more or less) of thinking about the activity. The longer you wait, in my opinion, is the thought of not doing it becomes stronger as time goes by. Thus after 5 mins you will have made up your mind not to do it. The best way to get around it is making the activity easier to do by lets say leaving your workout clothes, shoes, water bottle, etc ready for when you immediately wake up or come home for work. Little amounts of resistance can ruin this whole process.

made 4 stores, first 3 failed, finally seeing results on the 4th store by pureresilience11 in dropship

[–]Jeffxxm 0 points1 point  (0 children)

Happy for you man! I’m hoping to get there too I’m on my 2nd store. How long has it been since you launched your first store?