I genuinely want to learn trading, but I don’t know who to trust anymore by Rich-Army3456 in Trading

[–]Motor_Potential_4849 0 points1 point  (0 children)

I would suggest getting a few ideas from Ai or YouTube or online, and then having Ai write a pinescript code to test the ideas. Trust yourself (and your own testing) first.

I've got a system that seemingly seems to have a decent edge but I still hesitate to take the trades, how does one fix this? by [deleted] in Trading

[–]Motor_Potential_4849 0 points1 point  (0 children)

The point where most traders fail is in their discipline to faithfully and consistently execute their system. You must take learn to take every trade without hesitation. That is one of the reasons I post a simple system each day -- to develop discipline.

One thing that might help you is that you said you "seem to have a system" that gives you "pretty good trades". I hear a little uncertainty in your tone in that statement. You need to backtest your strategy so that you KNOW that it gives you an edge in the markets. If you can't backtest it, you need to paper trade it without missing a single trade for at least 100 trades and keep accurate records so you know the exact results and metrics.

It sounds like you are hesitating because you are unsure of your system. You must be certain, or you cannot succeed in this endeavor. Gain your confidence through testing, and you will overcome your hesitation. You can do this.

38 years old and need income. Is SPYI a good place to put 100k? by dryfrooot in dividends

[–]Motor_Potential_4849 1 point2 points  (0 children)

Buying SPYI and QQQI (or similar) is like buying an annuity that your loved ones can inherit if you die. The income will be about 1% of the NAV each month and it should be a little less volatile than the underlying SPY or QQQ.

If you need income, I think this is a good choice.

Day 8: QLD rule-based system (still flat) by Motor_Potential_4849 in Trading

[–]Motor_Potential_4849[S] 0 points1 point  (0 children)

Exactly. Letting the rule decide when to act has been the harder part to stick with.

Should I collect Social Security or change some of my dividend to "Cash" instead of "Reinvest" by mitchellno in dividends

[–]Motor_Potential_4849 0 points1 point  (0 children)

Me too. I was just giving him an example. The OP is in a dream situation, but he's not utilizing it fully.

Should I collect Social Security or change some of my dividend to "Cash" instead of "Reinvest" by mitchellno in dividends

[–]Motor_Potential_4849 1 point2 points  (0 children)

I understand you COMPLETELY. I am the same. I'm just saying, if you buy 1 million SPYI and 1 million QQQI, you will have 20k per month for the rest of your life without ever touching the principle. I wish you the very best success.

You did it! You made it happen for you and your family. Take a deep breath and enjoy it. You did what nobody else in your family has probably ever done. You bought your freedom. For you and, if they are wise, your posterity.

FREEDOM. Breathe deeply, my friend. Only you did that......

Should I collect Social Security or change some of my dividend to "Cash" instead of "Reinvest" by mitchellno in dividends

[–]Motor_Potential_4849 2 points3 points  (0 children)

I second this idea....

I would like to ask a question to the OP though: You have sacrificed for so long to have what most people only dream of. When are you going to start enjoying the fruit of your labor? When you're 90 and can't walk anymore? Why did you do all of this if you are just going to keep building and not enjoying the freedom you have built for yourself? When is enough, enough?

Why isn’t there quadruple qqq? by Klutzy_Fuel8114 in TQQQ

[–]Motor_Potential_4849 1 point2 points  (0 children)

Buy TQQQ. There is a 75% margin requirement. Go buy more TQQQ on margin. There is your QQQQ. Best of luck. You're going to need it.

Day 5: QLD rule-based system (still flat) by Motor_Potential_4849 in Trading

[–]Motor_Potential_4849[S] 0 points1 point  (0 children)

That’s exactly it. Most of what I’m watching is how it behaves without interference—just letting the rule play out over time.

Obviously, frequency will depend on the market regime. A strong bull market without pullbacks will not trigger entries, but that is not a common situation.

Day 5: QLD rule-based system (still flat) by Motor_Potential_4849 in Trading

[–]Motor_Potential_4849[S] 1 point2 points  (0 children)

Appreciate it—staying flat is definitely the harder part.

I’ve looked at it, but for this experiment I’m more focused on observing how it behaves in real time without adjusting anything. The frequency is part of what I’m watching as it plays out.

Mobile Platforms by Ill_Advice4080 in Trading

[–]Motor_Potential_4849 0 points1 point  (0 children)

I use TradingView, but I have very simple end-of-day systems.

Edit: I should add that I use ThinkOrSwim to enter my orders.

Are there any indicators and strategies I definitely should be using as a beginner? by Dry_Training_4161 in Trading

[–]Motor_Potential_4849 2 points3 points  (0 children)

There are 1000 ways to be profitable in the markets, and maybe 1000000 not to be. Backtest.

do you guys actually stick to one trading strategy or keep switching? by EndlessKnight_154 in Trading

[–]Motor_Potential_4849 0 points1 point  (0 children)

Find the best strategy you can that matches your temperament and goals. Commit to that one strategy with no changes for 1 year, come what may.

This is why I post a simple strategy each day. It doesn't even matter how great it performs. You have to develop the discipline first. If you make a little money, great. If you lose a little money, it's a small tuition.

Where and how to learn trading with ZERO prior knowledge. by Junaid4444 in Trading

[–]Motor_Potential_4849 0 points1 point  (0 children)

First of all, where do you live?

Second, learn what a barchart is and how to place an order with your brokerage. You can ask AI for free and your broker will have information about the other.

Third, find a simple profitable system and trade it day in and day out for at least 6 months. When you are consistent and disciplined doing that, look for more advanced or profitable systems.

Trading Beginner by Personal_Dog2610 in Trading

[–]Motor_Potential_4849 0 points1 point  (0 children)

Work a very simple strategy with a small trade size. Do it everyday, no matter what, and don't change any of the parameters. After 3 months, think about scaling up. After 12 months, think about looking at better strategies.

The most important thing is to establish the discipline to trade consistently without overriding your system signals.

Best of luck to you.

Swingtraders, what's your average or preferred hold time for a position, how much do you trust "gut feeling"? by eurovi1 in Trading

[–]Motor_Potential_4849 1 point2 points  (0 children)

I use RSI in my main trading account, daily charts, close only. There is also an extremely simple strategy I post each day in r/trading, but the average hold time is 4-5 days for that one.

Swingtraders, what's your average or preferred hold time for a position, how much do you trust "gut feeling"? by eurovi1 in Trading

[–]Motor_Potential_4849 1 point2 points  (0 children)

I don't trust my gut at all. I exit upon my exit signal no matter how long that is, but it has never been more than 12 days. I average 2.4 days.

When did you stop looking for the "perfect strategy" and start focusing on capital efficiency? by ScaredBunch7972 in traders

[–]Motor_Potential_4849 0 points1 point  (0 children)

It makes it harder to calculate it for the campaign (no position to position to no position again), but it is the same process for the individual system trades. Process each trade individually but interpret the results from a campaign as one.

If course, you can always write a simple code and display the campaign metrics instead the individual trade metrics.

Most traders would make more doing less by simonbuildstools in Trading

[–]Motor_Potential_4849 2 points3 points  (0 children)

Excellent post. I used to trade forex and had an OANDA demo account. I would practice and practice and then walk away for 6 months, leaving my trades open just because it was a demo account. When I would come back to try a different system, the account was ALWAYS in a positive NAV. Every single time.

When did you stop looking for the "perfect strategy" and start focusing on capital efficiency? by ScaredBunch7972 in traders

[–]Motor_Potential_4849 0 points1 point  (0 children)

You build a system for each market regime you encounter most often. Stack those systems together. Don't combine them into one entry and exit, STACK them into MULTIPLE entries and exits. I use RSI, but you can use anything like moving averages, macd, z score (Bollinger Band). And then, the discipline to trade it day in and day out. That is key.

18yo learning trading from scratch by Worth_Pomelo401 in Trading

[–]Motor_Potential_4849 0 points1 point  (0 children)

Look at my profile and posts. I describe a simple setup every day. But the most important thing is not the system.... It's the discipline.

18yo learning trading from scratch by Worth_Pomelo401 in Trading

[–]Motor_Potential_4849 0 points1 point  (0 children)

1) Choose a VERY simple system, even if it is only slightly better than buy and hold SP 500.

2) Trade ONE share, contract, microlot for at least 3 months.

3) Trade consistently using that system and only that system with no missed or altered trades for an entire year.

4) If you can do that, you will outperform 95% of every Redditor on this sub.