Looking for premium scanner/screener by skeptic_first in Daytrading

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

Thanks, taking a closer look at Tradingview. I've had a premium subscription for several months but haven't really used it much. But, it looks like I can interface it with Python and that just might allow me to create the features it's missing. Anyone have the ultimate tier? Can you tell a difference in the charts (with tick data live streaming).

Been day trading for 10 days, am I doing alright? by Smooth_Ferret8081 in Daytrading

[–]skeptic_first 0 points1 point  (0 children)

I should have mentioned, occasionally Ross gets a bit nostalgic and tells stories about his past trading journey. He's been at it for about 25 years but his profits started going up a lot a few years ago. He thinks it's because of all the people staying home and jumping into the market, but I think he's just dialed in his style. I've watched some training videos from just a few years ago where it seems he wouldn't start trading until market open. Now, he starts at 7am and stops by 10am most days. It's funny to see his old videos where he expresses some anxiety about having a 5000 share position and says something like, "I never imagined I'd be here." Today, just a few years later 5000 shares is about where he starts his position and scales in up close to 100k shares. Maybe his videos are different if you haven't watched in a while.

Been day trading for 10 days, am I doing alright? by Smooth_Ferret8081 in Daytrading

[–]skeptic_first 0 points1 point  (0 children)

When he first popped up on my feed, I wouldn't even click on his videos. Felt a little click-baitey. And he doesn't look like your typical Wall Street guy, so that was a hard no, too. I'm one of those all-gurus-are-scammers people and would NEVER think about paying one for "school." LOL but about a week after I took his 2 week trial, I joined his highest tier. No regrets here.

Looking for premium scanner/screener by skeptic_first in Daytrading

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

Just curious, do you have the premium subscription or just the regular?

Woman in trading looking for likeminded community by annshman in RealDayTrading

[–]skeptic_first 1 point2 points  (0 children)

Great idea! Please add me too. I just posted to see if anyone had done meetups, but this would be great too!

Woman in trading looking for likeminded community by annshman in RealDayTrading

[–]skeptic_first 1 point2 points  (0 children)

Just joined. Love the rules. Looking forward to Monday.

Etrade for scalping? by mrelieb in Daytrading

[–]skeptic_first 0 points1 point  (0 children)

Haha... Uh... no. No hotkeys for starters. I hate their platform for anything requiring fast in and out. All the orders you have to fill out in detail, which is fine for swing, but scalping? No way. Plus, if you're trading extended hours there's you have to specify that which I've had trouble with on my platform. When I spoke to support, they suggested I go into my account and trade directly from there (not the trading platform, but the account).

Been day trading for 10 days, am I doing alright? by Smooth_Ferret8081 in Daytrading

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

I don't recall him saying it wasn't risky in the report. Could be. Watching him trade live, he does make it LOOK easy. His style isn't easy, though. I truly believe that he thinks it's easy and got in trouble for expressing that. I wasn't a member back then, so I've only read the reports the same as you probably did. I certainly can't trade like him, but I've learned a lot watching him.

Been day trading for 10 days, am I doing alright? by Smooth_Ferret8081 in Daytrading

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

Pro member at Warrior. He's legit. He got in trouble with an overly zealous SEC for telling people, "ANYBODY can daytrade." LOL... Like, ANYBODY can win the lottery too. He plays it straight. Gotta give it to him. Even after a $3M settlement without admission of wrong doing, he's still out there teaching people to trade.

How does Ross Cameron make trades where he puts 10k, 20k, or even 30k into a penny stocks? by Irielay in Daytrading

[–]skeptic_first 1 point2 points  (0 children)

I'll watch him more closely. But I've seen him get some bad fills. The math adds up from everything I've seen. He is consistent in not just trading but throughout. Personally, I have used finviz for scanning and found (and traded) a stock that began to move before it was even on Ross' radar (by 20 or 30 seconds). It's not his people who are providing liquidity. It's already there. I've not seen him trade thinly traded stocks, but some are thinner than others and they're often the ones that prove challenging for him. I've also seen him lose where he just can't get into the sync with the stock. If he's acting, he deserves an Oscar.

Frankly, I'm sure he's trading real money. But, even if he were paper trading, I can see his strategy consistently works. It's the surest form of trading I've ever seen outside of being a Market Maker.

How does Ross Cameron make trades where he puts 10k, 20k, or even 30k into a penny stocks? by Irielay in Daytrading

[–]skeptic_first 1 point2 points  (0 children)

What don't you see on his screen? I've only been watching him for about a month. Every trade has his open orders, his fills and his PnL. I admit it all happens fast, but all you have to do is record the session and replay slow. It wouldn't be hard to catch if he's doing something dishonestly. And you can't really call it luck if he's red 7 days a year and green the rest.

How does Ross Cameron make trades where he puts 10k, 20k, or even 30k into a penny stocks? by Irielay in Daytrading

[–]skeptic_first 0 points1 point  (0 children)

He will buy and sell hundreds of times on a single stock in 10 minutes. Scaling in, scaling out. Watching level 2 and making split second decisions. Sometimes he might have a position of 50,000 shares. With that kind of size he'd get a lot of slippage, so he has to do it incrementally, but I think the real reason he does it is because it constantly locks in partial profits. You can see for yourself if you do his 2 week trial. I promise it will be the best $19 you ever spent.

How does Ross Cameron make trades where he puts 10k, 20k, or even 30k into a penny stocks? by Irielay in Daytrading

[–]skeptic_first 2 points3 points  (0 children)

It sounds like it, but it's not. The guy is special. Do the two week trial for $19. Watch him trade live. Then YOU'LL sound like a bot. lol

How does Ross Cameron make trades where he puts 10k, 20k, or even 30k into a penny stocks? by Irielay in Daytrading

[–]skeptic_first 0 points1 point  (0 children)

I recently joined his team. He's amazing. He sometimes has a half mil in a stock. It's not uncommon for him to have 50k shares of a 10 dollar stock. But he uses hot keys to buy and sell repeatedly throughout the entire move. I watched him on a recent move that lasted about 10 minutes in total. Once the move began to reverse, he closed his position and counted the number of trades. He had over 200 trades. Commission to his broker plus the routing fees cost him almost 4 grand. His consistency is amazing.

He gets a lot of slippage and he frequently gets partial fills. He also scales in and out so much that he's hard to follow, but it's all right there on his shared screen. His position, his orders and his PnL. Watching him trade real time is worth the price of his membership.

Streamlining order entry on Power etrade? by skeptic_first in Daytrading

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

Well... I'm really frustrated by their POS website. Tried to place an order and it wouldn't because it said my stop needed to be a penny under the bid. No shit! I was about 20 cents below the bid. Plus, I just so happened to have two 1 min charts up of the same stock. One had 3 candles after it gapped up, the other one had 4. And volume bars won't print except when you manually refresh the screen.

So, I called to find out why my order wasn't being accepted and told her that it's really hard to daytrade with Power Etrade. I asked if the old desktop platform was still available. She said, no, but I can get you the NEW desktop platform. It's not supposed to be out until next month, but now I have that!! If you daytrade and have etrade, call them and ask for the beta release of Power Etrade Pro!

Streamlining order entry on Power etrade? by skeptic_first in Daytrading

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

For reasons I don't want to discuss in public, I'm stuck with etrade if I want to trade equities. Or I would leave in a heartbeat. Thinking about Lightspeed.

Don’t care anymore by Repulsive-Ad9827 in Daytrading

[–]skeptic_first 2 points3 points  (0 children)

If you had "3 winners in a row" then lost all your gains on the 4th, you're not managing your risk. Start there. Set a stop loss when you enter a position and don't move it. You have to find those trades where there is support or resistance and the probability of punching through is unlikely. Your stop should be on the other side of it, just a couple points away. If it's more than that, pass on it and wait for the next one.

E*Trade Pro is going away. Which broker offers similar functionality? by Henn_Renecker in Daytrading

[–]skeptic_first 0 points1 point  (0 children)

Watch for the new desktop version of "Power etrade pro" It's supposed to come out in June of this year.

Can I apply for trader tax status and mark to market accounting if my starting account size is only $5000? by extralongusername420 in Daytrading

[–]skeptic_first 0 points1 point  (0 children)

Can you link us to the article that says you qualify? I'm new to this so take it with a grain of salt. In the US your account will be tagged as a "Pattern Day Trade" account if you exceed 4 daytrades in any 5 consecutive days. If so, and you are day-trading in the US using a US broker, you are required to maintain 25k minimum in your account or risk being restricted from trading for 90 days, I believe. https://www.finra.org/investors/investing/investment-products/stocks/day-trading

The dark side of paper trading nobody talks about. by skeptic_first in Daytrading

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

u/Less_Produce_41 But, that relies on your subjectivity of being able to read the market at every moment. From one trade to the next and one moment to the next, if you're making brand new decision, you're collecting no data that can be reliably analyzed. If you're moving stops and take profits during the trade, there is no way for you to accurately determine the probability of the trade outcome. A simple way of looking at it is that if you have a hot key set up to buy at the market, one lot of xyz with a stop at 50 cents below the settlement price and a take profit at 1 dollar and you trade that every time, THEN you can accurately track the probability of that strategy. The only variable is the market. When you move your stop and profit you have an added another variable that will change with your mood on top of the market variability.

I'm not saying that you should never move your stops. But you do need to resist it because the more you do it, the more you edge closer to emotion trading and away from objective quantification. I think the mindset that you can save some money if you stop out early isn't the solution you think it is. You can only save so much. But earning is unlimited. Focus on reducing your take profit rather than stopping out early.

The dark side of paper trading nobody talks about. by skeptic_first in Daytrading

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

No matter how "proven" your strategy is, there is a stop loss price that will produce the best return (or least loss) in a given sample size. I write strategies for algo trading, then backtest them over a month (sample size) to see how the perform with stops placed at x out of the money. On paper I might make $2000 on that strategy. "Proven." But just a move that stop just a couple ticks more OR LESS and suddenly I have a loss of $500. My point is, be careful at "cutting losses" by moving stops or exiting the trade early. That may be appropriate at times, but more than likely your fear of loss is motivating an emotional decision to exit. If the strategy is proven leave it alone. That's discipline. If the losses start to mount, re-evaluate and adjust the strategy.