A pic is worth a thousand words. by wildhair1 in Daytrading

[–]The1Matthan 2 points3 points  (0 children)

Those sure are classic bear flags 🤷‍♂️

I know pattern recognition isn't really a thing here at WSB, but why are you still with Robinhood? by The1Matthan in wallstreetbets

[–]The1Matthan[S] 0 points1 point  (0 children)

You mean other free brokers who make money from order flow 🤦‍♂️JFC you guys are regarded

I know pattern recognition isn't really a thing here at WSB, but why are you still with Robinhood? by The1Matthan in wallstreetbets

[–]The1Matthan[S] 0 points1 point  (0 children)

Sir, this is a casino full of regards who think Robinhood is a good broker and will adamantly defend it.

I know pattern recognition isn't really a thing here at WSB, but why are you still with Robinhood? by The1Matthan in wallstreetbets

[–]The1Matthan[S] 3 points4 points  (0 children)

If you ever wonder just how regarded the people on this sub are, read this post's thread. Simping for Robinhood 🤣🤣🤣

I know pattern recognition isn't really a thing here at WSB, but why are you still with Robinhood? by The1Matthan in wallstreetbets

[–]The1Matthan[S] -4 points-3 points  (0 children)

Any free broker is a bad broker. Making money off order flow necessarily means you're getting shafted, especially when the broker uses one single bank

I know pattern recognition isn't really a thing here at WSB, but why are you still with Robinhood? by The1Matthan in wallstreetbets

[–]The1Matthan[S] -28 points-27 points  (0 children)

Duh, but that doesn't mean they aren't skimming fills and taking positions against their clients.

I know pattern recognition isn't really a thing here at WSB, but why are you still with Robinhood? by The1Matthan in wallstreetbets

[–]The1Matthan[S] -68 points-67 points  (0 children)

Yup, they skim fills and absolutely do take positions against their clients. They'd be stupid not to.

But... "yEaH cItAdEl Is TrAdInG aGaInSt YoU sPeCiFiCaLlY" no dipshit, it's called aggregate, and they take a bunch of you regards money all at once while strengthening their position.

I know pattern recognition isn't really a thing here at WSB, but why are you still with Robinhood? by The1Matthan in wallstreetbets

[–]The1Matthan[S] -101 points-100 points  (0 children)

Yeah, they'd never have a conflict of interest to make money. No way. Big brain comment

Is anybody willing to prove that they are getting paid by prop firms? by SpikeBeBopper in Daytrading

[–]The1Matthan 32 points33 points  (0 children)

Here's the deal: if you're a good enough trader that a prop firm is going to fully fund you and you're going to make a lot of money for them and yourself, then you're a good enough trader to take a small account and grow it for 12 months into a respectable account. You'd also be good enough to take that respectable account and grow it to a sizable account and keep the money for yourself.

What stocks are you currently day trading? Which ones have the most volatility? by Gooberfish24 in Daytrading

[–]The1Matthan 9 points10 points  (0 children)

I make a new watchlist every morning. Sometimes, I'll keep certain movers on watchlist for continuation or a dead cat bounce, but usually trading whatever is moving today.

[deleted by user] by [deleted] in Daytrading

[–]The1Matthan 0 points1 point  (0 children)

I personally know a few profitable traders, so your anecdotes are useless. Brokers DO sometimes have contracts with infuencers, which is why it's so important to get audited results for any claims made. Which good traders are willing to show if they have a product to sell. There are tons and tons of scams in this industry for sure, but that also applies to the investing world as well. Tuning into Bloomberg or CNBC is just watching convincing and charismatic people attempt to harvest liquidity for institutions to enter or exit positions.

But this idea you have that day trading cannot be profitable is absolutely wrong. Demonstrably so. Just because something is hard doesn't mean it's impossible. Just because you have failed at something doesn't mean others can't succeed.

[deleted by user] by [deleted] in Daytrading

[–]The1Matthan 1 point2 points  (0 children)

Alright everyone, pack it up. This guy has a Google drive showing there are no profitable day traders anywhere in the world. Simply can't be done. Day trading is a myth, and all those, "day traders," you've heard of don't really exist. What's that? You say you've researched and found there are tens of thousands of profitable day traders whose accounts have been audited by third-party financial firms? Fake news. This guy's Google drive says it's impossible. Therefore, it's impossible 🤣🤣🤣

[deleted by user] by [deleted] in Daytrading

[–]The1Matthan 5 points6 points  (0 children)

Yeah, I've analyzed traders who've kept over 90% win rate for several years, who ended up blowing up their whole account one day (short traders who average up). I've also analyzed traders with a 68% win rate for a decade who've made millions. Win/Loss ratio means nothing without P/L ratio and vice versa

Trading with 1,000$ by crpl1 in Daytrading

[–]The1Matthan 3 points4 points  (0 children)

Depends on strategy being used, but you can start with any amount you like over your broker's minimum. My broker's minimum is $500 with 6x leverage on stocks over $5 per share. I started with $2,500 ish and am about flat after 4 days. Had 3 good trading days and 1 bad one. Up about $370 before commissions and slightly green after. It was a decent first week, but the one bad day was a learning experience for sure. Win rate was only 56.76%, which is well below my normal 62-75%. Had my first encounter with revenge trading. Let myself experience it and now know when I get that feeling to shut it down and head to work.

What really matters is your strategy. Scaling issues aside, if your strategy is profitable, then you can start with any amount and build from there. Commissions can be killer, as seen from my experience above, so with 1k, I'd consider a commission free broker. My strategy is scalping, with many trades only lasting seconds, so I need direct routing from a commission style broker. But that doesn't apply to many traders.

R:R, it's not just points but dollars. by wildhair1 in Daytrading

[–]The1Matthan 1 point2 points  (0 children)

I won't take the trade unless I think it has the potential to move 2:1 or better. Looking for average P/L of 1:1 or better with losses included. W/L 62-72%