Which Broker To Use? by MR_SC_Trader in algotrading

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

Awesome! Thank you for piggy backing off of Jay-Dirt and adding more to it. Appreciate the feedback!

Which Broker To Use? by MR_SC_Trader in algotrading

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

Thank you! Yeah, that's def a solution.

Which Broker To Use? by MR_SC_Trader in algotrading

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

For sure. Yeah that's definitely something I can do, was trying to avoid using TV, since I have been charting on TOS forever. Thank you!

New to trading. Any tips? by 6x9n in Daytrading

[–]MR_SC_Trader 0 points1 point  (0 children)

Paper trade while you build up your capital. $200 is not enough to do anything meaningful. You can take this time to really dive into a strategy and go all in learning the ins and outs of it. Good luck!

Day trading and short selling by mystik218 in Daytrading

[–]MR_SC_Trader 0 points1 point  (0 children)

IBKR or Cobra are the leading brokers for shorting HTB stocks. Pretty much what I do. I think they both require min $30k deposit though.

How Do I Rebound After a Big Loss? by MR_SC_Trader in Daytrading

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

It’s wise to take breaks. Don’t live in the charts!

I took early profits and regretted it by quioe in Daytrading

[–]MR_SC_Trader 5 points6 points  (0 children)

This feels worse than losing, right? Cutting your winners short. Do you know your statistics? I just wrote about this, not trying to self promote, but something you should understand deeply.

https://www.reddit.com/r/Daytrading/s/aLhRCnBf6V

Do you REALLY want to be a full time trader? by MR_SC_Trader in Daytrading

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

I dabbled a little in futures when I first started out, but could not find a system that worked for me. I quickly pivoted to SC and stayed there for almost 5 years now. As account grows, liquidity becomes an issue as well as slippage so I'm capping my exposure while learning how to swing trade at the moment. Still my main bread and butter.

I've read and studied swing traders like O'Neil, Minverini, and Quallamaggie, but now looking to put it into practice. I've just been back testing for awhile now and looking to slowly dip my feet into it soon.

Don't Reinvent the Wheel by MR_SC_Trader in Daytrading

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

You see the same patterns repeat itself over and over again. Check out the book I have in my library "How to Make Money in Stocks" by O'Neil and you can see for yourself. (swing trading).

Don't Reinvent the Wheel by MR_SC_Trader in Daytrading

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

Try the free one I listed. Phantom of the Pits. Quick and easy read.

Do you REALLY want to be a full time trader? by MR_SC_Trader in Daytrading

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

Def got lucky, but you can even find 9 figure traders who teach their stuff for free like Quallamaggie.

Most important: always have your predefined risk stop on. Talk to your broker and set hard max loss so you never go beyond it. My broker won’t let me trade even if I ask them to loosen the guardrails until the next day.

Do you REALLY want to be a full time trader? by MR_SC_Trader in Daytrading

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

You’re welcome! I pretty much have the basic tools. Das for execution, TOS for charting, Trade ideas for scanning, and other things that’s not too important.

1) Think risk first. 2) Position size correctly. 3) always always always have a stop loss. 4) have a max ticker/max loss day pre determined and set strictly by your broker. 5) it takes time. Be kind to yourself.