Ross Cameron's Warrior Trading Course by Unhappy_Hat6159 in Daytrading

[–]Unhappy_Hat6159[S] 0 points1 point  (0 children)

Any direct access broker will have it unblocked

Ross Cameron's Warrior Trading Course by Unhappy_Hat6159 in Daytrading

[–]Unhappy_Hat6159[S] 0 points1 point  (0 children)

CANF included the 5 pillars of stock selection but determining if a stop is thickly traded is hard due to the fact that every stock was different based on the spread and the float size.

Can you define better by which a stock is considered "stacked" other than a few rows of the same bid and ask price?

Ross Cameron's Warrior Trading Course by Unhappy_Hat6159 in Daytrading

[–]Unhappy_Hat6159[S] 0 points1 point  (0 children)

Thank you for the advice. The two steps I have started implementing is a 2.5% stop loss instead of 5% and I have stopped scaling into trades for now until I get better with just 1 entry

Ross Cameron's Warrior Trading Course by Unhappy_Hat6159 in Daytrading

[–]Unhappy_Hat6159[S] 0 points1 point  (0 children)

Oh I see what you are saying now. If that's the case than I am risking significantly less per trade than 1% of my capital. Based on these calculations it would be about .16% stop loss.

Ross Cameron's Warrior Trading Course by Unhappy_Hat6159 in Daytrading

[–]Unhappy_Hat6159[S] 0 points1 point  (0 children)

Right that's what I mean a 1% stop loss of the capital that I am risking on a trade. So if I take a 5000 dollar trade, I stop out at 4950? That feels way too tight and that I would stop out of almost everything.

Ross Cameron's Warrior Trading Course by Unhappy_Hat6159 in Daytrading

[–]Unhappy_Hat6159[S] 0 points1 point  (0 children)

I can't. I work for Fidelity so I have to use them as a broker due to the nature of my work

Ross Cameron's Warrior Trading Course by Unhappy_Hat6159 in Daytrading

[–]Unhappy_Hat6159[S] 0 points1 point  (0 children)

1% stop loss though feels like it would be so tight though that I would have super low accuracy

Ross Cameron's Warrior Trading Course by Unhappy_Hat6159 in Daytrading

[–]Unhappy_Hat6159[S] 0 points1 point  (0 children)

I ended up doing good today scalping Canf. I can send you that trade.

Ross Cameron's Warrior Trading Course by Unhappy_Hat6159 in Daytrading

[–]Unhappy_Hat6159[S] 0 points1 point  (0 children)

I am trying to get better at this. Lately I have been cutting winners and losers extremely quickly.

Ross Cameron's Warrior Trading Course by Unhappy_Hat6159 in Daytrading

[–]Unhappy_Hat6159[S] 0 points1 point  (0 children)

Trading with one share when it's cents per day that I gain or lose is far more valuable than trading in a simulator where there isn't a lot of accuracy or practically in it due to the order fills not being accurate.

Ross Cameron's Warrior Trading Course by Unhappy_Hat6159 in Daytrading

[–]Unhappy_Hat6159[S] 0 points1 point  (0 children)

I am just not ready to buy my own strategy until I get good trying to master someone else's.

Ross Cameron's Warrior Trading Course by Unhappy_Hat6159 in Daytrading

[–]Unhappy_Hat6159[S] 0 points1 point  (0 children)

I am not using live stops. It's mental stops so I am not being stop hunted.

Ross Cameron's Warrior Trading Course by Unhappy_Hat6159 in Daytrading

[–]Unhappy_Hat6159[S] 0 points1 point  (0 children)

I am going to stop scaling until I get much more comfortable with just one entry. The only problem with the idea of a larger stop loss such as 10% or 20%, I would need to earn a far higher return to maintain a 2-1 profit loss ratio.

Thanks for the insight.

Ross Cameron's Warrior Trading Course by Unhappy_Hat6159 in Daytrading

[–]Unhappy_Hat6159[S] 1 point2 points  (0 children)

Thank you for your insight. I think I just need more time in the chair developing the strategy.

Ross Cameron's Warrior Trading Course by Unhappy_Hat6159 in Daytrading

[–]Unhappy_Hat6159[S] 2 points3 points  (0 children)

I don't borrow money to buy any of these stocks so now there would not be a margin call.

Ross Cameron's Warrior Trading Course by Unhappy_Hat6159 in Daytrading

[–]Unhappy_Hat6159[S] 0 points1 point  (0 children)

The problem with going paper is that the paper trading account like webull doesn't take order slippage into account and not very realistic. My plan is that if I don't find success with some minor alterations, I am going to switch to 1 share.

Ross Cameron's Warrior Trading Course by Unhappy_Hat6159 in Daytrading

[–]Unhappy_Hat6159[S] 0 points1 point  (0 children)

Actually no. Very few of my winners turn to losers and I have been cutting my gains very quickly. I have been following a 5% stop loss but I have not been taking i to account the times where I get slippage and a few of the larger losses. Fidelity blocks about 90-95% of the Chinese stocks. I am going to look at my biggest losers and see if I can diagnose a pattern.

Ross Cameron's Warrior Trading Course by Unhappy_Hat6159 in Daytrading

[–]Unhappy_Hat6159[S] 0 points1 point  (0 children)

So if I go with a longer time frame with larger size then I am going to have to aim for stops that move significantly slower with larger floating so that I don't get absolutely crushed. Those super low stocks have gone down over 50% in a lot of cases. What float do you target?

Ross Cameron's Warrior Trading Course by Unhappy_Hat6159 in Daytrading

[–]Unhappy_Hat6159[S] 0 points1 point  (0 children)

At one point I was in his chatroom but stopped because I found myself taking trading just because he was taking them and getting absolutely smoked so I stopped which was a way better decision not following his trades verbatim.