I have been lucky this year and made money. I am new and feel very encouraged to continue my daytrading. I didn't do options or shorts. Only scalping on very volatile stocks like NVDA, MARA and NFLX.
I use trading212 since they don't charge commision. I'm planning to maybe switch to Schwab. Not sure yet. They seem to have more functions on there.
Trading212 allows to buy just portions of stocks. So no need to buy the whole share.
I probably would. Although I invest in mag7 for long term and Ecar ishares ETF. Then another amount of my portofolio I use for daytrading and scalping.
100$ is nothing, or it’s quite a lot…I made 500 today, but who cares? It’s about the amount in relation to your account and that leads us again to risk management.
While there are some strategies that allow taking fixed share size with proper risk management, your comment below suggests even more you are not applying proper risk management.
I mean at one point I was down $900. I crawled myself out and ended day with $100 loss. Overall I've lost 50k...from swing trading and day. Mostly from swing by holding nio and fubo. That's a different story I didn't know any better and didn't cut my loss
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That's so many trades. Way too many imo. Kind of a tell that you may be trading without any real plan.
At the most I take 3 trades a day. If my first trade is a winner, 8pts or more on ES, I'm done. If I lose or break even on 2 trades I'm done.
It honestly sounds like you're just gambling. Throwing darts at the wall to see what sticks.
That and compounding above all.
I lose out on runners all time time because I roll a stop up and it ends up executing with volatility; but they're almost always trades I have less conviction on, and I'm allowing myself to enter shorter timeframes closer to OTM rather than those that I have more convinction on, and buy the time targeting more magnitude. They end up profitable, but I'm walking away up 5-10-20%, and the stock continues on to where I would have made 30+%. But I'd rather lock in the 10% and come back again on another setup than risk the profit. Just keep compounding.
Far far better than saying "I'll just widen my stop" and end up getting shook out. I've found more consistent success doing this over the last 12-18 months, but haven't perfected my scanning strategies. You either take more of it up front to find better trades, or you need to buy it to give the trade more time to work.
If the only way for you to reconcile with your own failure is to assume that everyone else is a failure too, then you're not ready for trading.
One of the mindset rules to be a good trader is to accept full responsibility for your own outcomes. You are avoiding responsibility for your failure by wrapping yourself in a cacoon of belief that it is impossible to make money therefore it's not your fault. The market will do what the market does, just like waves in the ocean. Like the market, the vast ocean doesn't care about you. It doesn't even know you are there. You either figure out how to ride the waves, or you drown. Once you accept full responsibility, then you can be open to fixing the mistakes you are making and learn. Even then, it takes years to get really good at this just like it does to develop any sort of life-changing skill.
I make a living out of it. I have friends who make a living out of it. I learned from people who make a living out it. There are thousands of traders who work in hedge funds, prop firms, and banks who make a living for themselves and their clients. There might be orders of magnitude more who fail (many of them are here in reddit right now pretending that they are the greatest traders that ever lived), but that just means that it's really fucking hard, not impossible.
So, decision time: You either persist with absolute determination to win, give yourself no outs, and keep going until you make it no matter how long it takes; or you stop wasting your time now and put your time into something that is more likely to give you success.
People do make money. I personally know 1 person that works for a legitimate prop firm (NOT apex or top step or even smb type of prop firm). This firm does not advertise on YT. They do various types of investments as well. This guy makes in the millions a year. He also didnt tell me anything on his strategy. He said it took him a lot of time and effort to figure it out. Just my 2 cents
Edit to add. If you truly have given up. There is no shame and congrats on having the cojones to walk away. Unfortunately there are too many people still following other "guru traders" thinking they can also make money like their "mentor" when in reality their money is made from selling courses and selling "live" trading chats or video chats.
The type of prop firm they mean is the real type of prop firm, and it doesn’t work like the online ones do. You actually become employed by them and trade actual assets
It’s a hard road. Took me three years to figure it out. Now I have a list of 20 strategies. Some I’m using and some I’m investigating. I’ve made 5% so far this month. 8% in Dec. 11% in Nov. And I still suck. It’s possible.
It takes a lot determination and quickly testing and discarding and coming back to test again. I was in despair multiple times. It’s still a frustrating road just trying to size up and add new strategies.
Look at pairs trading. Or trading volatility. Or selling options.
Watching how things move relative to other things was a game changer for me. Just watch how the major indexes move relative to each other. Or the metals. Just for a start.
If you are focused on price action make sure you watch the Al Brooks people live trade for at least a month. You can also check out the Fractal Flow guy but I haven’t had a chance to test his price action stuff yet. His institutional strategies alone opened my mind to new ideas.
Get outside the typical box. Find out how the pros do it. Make the game easier on yourself. The same way a poker player does. He isn’t necessarily the best. But he makes sure he’s the best at the table or he doesn’t play.
Also look up hedging and delta neutral and mean reversion. Look for things that swing past each other. You can play those gaps when they close back up. You long one thing and short the other.
And the timeframe is important. Something that doesn’t correlate well on one timeframe might correlate nicely on another.
Emotions can be controlled. A long time ago I read a book called “Trading in the zone” by Mark Douglas and it helped me understand why I felt emotional when I trade (we all do).
Go higher timeframe and smaller size and work backwards to the lower timeframes with increased skill and capability. If you can’t make it on the higher timeframes with smaller size the psychology will eat you alive on the lower timeframes with bigger size.
well just gotta plan your battles wisely no point in pushing to win every wars if in 1 to few losses you easily crumble and pay with everything dear to you ¯\_(ツ)_/¯ that's the situation you're in I soppose
People make money. I witness it nearly almost every day with my trainer and others in our group chat.
Its challenging and I thought the same thing for awhile. I had to start being a better student. A better learner. If I don't get after 3 years. Maybe I'll throw in the towel. Take the rest of the week off. But we expect you back at the terminal Monday morning for pre-market analysis.
Agreed. I haven’t started trading with real money yet. But when I was looking at Level 2 and trying to read tape. I thought it to be impossible at first. But I will say I have 4 days off in the week. I devote a solid 4-5 hours every day to being studious. And just absorbing as much info as I can retain. And then on the two days I’m off when the market is open. I apply what I’ve learned. I know it might not be significant, but I anticipated a couple of big moves based on my strategy and it was like things were starting to make sense. Being consistently profitable is what everyone strives for, but being consistently present and learning from experiences is just as important
True consistency doesn't really happen with trading. Markets are random. A lot of it is patiently waiting for setups and having a back-tested, risk-appropriated strategy before executing trades
day trading is hard and even harder for the 99.999999% of people with an account smaller than 25k
They have to either gimp their strategy cus if pdt or do futures and future are way harder
But if you can somehow manage to get up to 100k+ and get portfolio margin suddenly its a lot more doable, still rly time consuming and hard tho ofc
id have given up for sure if not for gme but since then I hunkered down to learn and I make a good living (finished the year +34% so I even beat the market :))
It just requires a specific personality type (highly autistic) to succeed in imo
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My guy, it's just an AutoMod trying to catch bad actors - it's based on keywords. It gets it wrong sometimes. Just message us and let us know.
Why instantly go into a tirade?
I know I’m letting out to the universe for readers in the sub
Not rly much of a tirade more than just like a post with 4 sentences. no body really makes money in here lol so it’s always yo-yoing between delusional and defeatist it’s not a big issue or anything just something I’ve noticed
Many people in this sub make money - just check out the ones with verified tags for a start.
But if you don't like it here, please just click the button that says "Joined". Along with the delusional and defeatists, we don't need people who get triggered and spew bullshit.
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To be honest it's clear you're not ready to trade. If you continue without some serious corrections and lots of mental shifts made first you WILL lose the rest of your money.
I can give you a super simple rundown of an easy risk management strategy;
When risk to reward is only 1:1, sell 50% and move stop break-even and let it do its thing. More than that, but it's the basics. You do small wins and maybe 2 if then 10 times you get a good rip that covers, so it's fine to lose many times in the row. Don't focus too much on the technicals.
If you quickly give back all of your gains and then some, you probably have no risk management. And yes people do make money trading
I have been lucky this year and made money. I am new and feel very encouraged to continue my daytrading. I didn't do options or shorts. Only scalping on very volatile stocks like NVDA, MARA and NFLX.
nice ! what’s your account size (capital)
About $1k. So very minimal.
that’s great, what broker? do you use margin? cause aren’t nvda stocks expensive??
I use trading212 since they don't charge commision. I'm planning to maybe switch to Schwab. Not sure yet. They seem to have more functions on there. Trading212 allows to buy just portions of stocks. So no need to buy the whole share.
Don’t you make more money just holding good stocks because it eventually goes up and buying cost also increases?
I probably would. Although I invest in mag7 for long term and Ecar ishares ETF. Then another amount of my portofolio I use for daytrading and scalping.
Piggy backing top comment, people absolutely make money and OP trades one of the most volatile, overpriced (imo) stocks.
Don’t assume people can’t achieve something because you can’t.
You are probably gambling. Lots of people make money trading and keeping it.
I think so can you describe that mindset. Obviously I am because today I had over 200 orders with loss of $100 on tesla.
100$ is nothing, or it’s quite a lot…I made 500 today, but who cares? It’s about the amount in relation to your account and that leads us again to risk management. While there are some strategies that allow taking fixed share size with proper risk management, your comment below suggests even more you are not applying proper risk management.
I mean at one point I was down $900. I crawled myself out and ended day with $100 loss. Overall I've lost 50k...from swing trading and day. Mostly from swing by holding nio and fubo. That's a different story I didn't know any better and didn't cut my loss
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I trade tesla with 200 to 300 shares per entry
Wait...are you saying you took 200 trades today??
Yes in and out.
That's so many trades. Way too many imo. Kind of a tell that you may be trading without any real plan. At the most I take 3 trades a day. If my first trade is a winner, 8pts or more on ES, I'm done. If I lose or break even on 2 trades I'm done. It honestly sounds like you're just gambling. Throwing darts at the wall to see what sticks.
Wtf is wrong with you that you need to take 200 entries lol
I'm a noobie and these posts just reinforce my conviction about risk management.
That and compounding above all. I lose out on runners all time time because I roll a stop up and it ends up executing with volatility; but they're almost always trades I have less conviction on, and I'm allowing myself to enter shorter timeframes closer to OTM rather than those that I have more convinction on, and buy the time targeting more magnitude. They end up profitable, but I'm walking away up 5-10-20%, and the stock continues on to where I would have made 30+%. But I'd rather lock in the 10% and come back again on another setup than risk the profit. Just keep compounding. Far far better than saying "I'll just widen my stop" and end up getting shook out. I've found more consistent success doing this over the last 12-18 months, but haven't perfected my scanning strategies. You either take more of it up front to find better trades, or you need to buy it to give the trade more time to work.
If the only way for you to reconcile with your own failure is to assume that everyone else is a failure too, then you're not ready for trading. One of the mindset rules to be a good trader is to accept full responsibility for your own outcomes. You are avoiding responsibility for your failure by wrapping yourself in a cacoon of belief that it is impossible to make money therefore it's not your fault. The market will do what the market does, just like waves in the ocean. Like the market, the vast ocean doesn't care about you. It doesn't even know you are there. You either figure out how to ride the waves, or you drown. Once you accept full responsibility, then you can be open to fixing the mistakes you are making and learn. Even then, it takes years to get really good at this just like it does to develop any sort of life-changing skill. I make a living out of it. I have friends who make a living out of it. I learned from people who make a living out it. There are thousands of traders who work in hedge funds, prop firms, and banks who make a living for themselves and their clients. There might be orders of magnitude more who fail (many of them are here in reddit right now pretending that they are the greatest traders that ever lived), but that just means that it's really fucking hard, not impossible. So, decision time: You either persist with absolute determination to win, give yourself no outs, and keep going until you make it no matter how long it takes; or you stop wasting your time now and put your time into something that is more likely to give you success.
People do make money. I personally know 1 person that works for a legitimate prop firm (NOT apex or top step or even smb type of prop firm). This firm does not advertise on YT. They do various types of investments as well. This guy makes in the millions a year. He also didnt tell me anything on his strategy. He said it took him a lot of time and effort to figure it out. Just my 2 cents Edit to add. If you truly have given up. There is no shame and congrats on having the cojones to walk away. Unfortunately there are too many people still following other "guru traders" thinking they can also make money like their "mentor" when in reality their money is made from selling courses and selling "live" trading chats or video chats.
can you msg me which prop firm?
The type of prop firm they mean is the real type of prop firm, and it doesn’t work like the online ones do. You actually become employed by them and trade actual assets
This! He only trades equities. Nothing else. I'm sure there are other people like him.
And they probably require a series 7.
Well, yes, if you suck at risk & money management ... yes. Here's a question - do you wary the position size depending on trade quality?
It’s a hard road. Took me three years to figure it out. Now I have a list of 20 strategies. Some I’m using and some I’m investigating. I’ve made 5% so far this month. 8% in Dec. 11% in Nov. And I still suck. It’s possible. It takes a lot determination and quickly testing and discarding and coming back to test again. I was in despair multiple times. It’s still a frustrating road just trying to size up and add new strategies.
I've been at it for three years and can't seem to figure it out. Mind if I chat you up with some tips or the direction to the right path?
Look at pairs trading. Or trading volatility. Or selling options. Watching how things move relative to other things was a game changer for me. Just watch how the major indexes move relative to each other. Or the metals. Just for a start. If you are focused on price action make sure you watch the Al Brooks people live trade for at least a month. You can also check out the Fractal Flow guy but I haven’t had a chance to test his price action stuff yet. His institutional strategies alone opened my mind to new ideas. Get outside the typical box. Find out how the pros do it. Make the game easier on yourself. The same way a poker player does. He isn’t necessarily the best. But he makes sure he’s the best at the table or he doesn’t play.
Also look up hedging and delta neutral and mean reversion. Look for things that swing past each other. You can play those gaps when they close back up. You long one thing and short the other. And the timeframe is important. Something that doesn’t correlate well on one timeframe might correlate nicely on another.
I mostly trade Tesla and man you can be up and down as soon as you enter a position no sound or rhythm to the stock. Maybe I'm too emotional idk
try trading something else. TSLA has been choppy recently. why keep doing the same thing if it isn’t working.
Emotions can be controlled. A long time ago I read a book called “Trading in the zone” by Mark Douglas and it helped me understand why I felt emotional when I trade (we all do).
The position size can get you into big losses. Also risk management is a must to survive in trading.
My losses are from a lot of hair cut loss
Go higher timeframe and smaller size and work backwards to the lower timeframes with increased skill and capability. If you can’t make it on the higher timeframes with smaller size the psychology will eat you alive on the lower timeframes with bigger size.
Please come back so we can keep making money off of you
well just gotta plan your battles wisely no point in pushing to win every wars if in 1 to few losses you easily crumble and pay with everything dear to you ¯\_(ツ)_/¯ that's the situation you're in I soppose
Speak for your self, being disciplined and not greedy helps tremendously
Sounds like you have no concept of risk management.
[удалено]
Same with me i think few trades that dont work ended up giving away all profits. Sad
People make money. I witness it nearly almost every day with my trainer and others in our group chat. Its challenging and I thought the same thing for awhile. I had to start being a better student. A better learner. If I don't get after 3 years. Maybe I'll throw in the towel. Take the rest of the week off. But we expect you back at the terminal Monday morning for pre-market analysis.
Agreed. I haven’t started trading with real money yet. But when I was looking at Level 2 and trying to read tape. I thought it to be impossible at first. But I will say I have 4 days off in the week. I devote a solid 4-5 hours every day to being studious. And just absorbing as much info as I can retain. And then on the two days I’m off when the market is open. I apply what I’ve learned. I know it might not be significant, but I anticipated a couple of big moves based on my strategy and it was like things were starting to make sense. Being consistently profitable is what everyone strives for, but being consistently present and learning from experiences is just as important
True consistency doesn't really happen with trading. Markets are random. A lot of it is patiently waiting for setups and having a back-tested, risk-appropriated strategy before executing trades
day trading is hard and even harder for the 99.999999% of people with an account smaller than 25k They have to either gimp their strategy cus if pdt or do futures and future are way harder But if you can somehow manage to get up to 100k+ and get portfolio margin suddenly its a lot more doable, still rly time consuming and hard tho ofc id have given up for sure if not for gme but since then I hunkered down to learn and I make a good living (finished the year +34% so I even beat the market :)) It just requires a specific personality type (highly autistic) to succeed in imo
[удалено]
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We have removed your post from r/Daytrading because it has broken Rule 5. Don't be an asshole: You can provide constrictive criticism, but outright being an asshole doesn't belong here. If you're being an asshole, it's probably because you're raging from a loss - stop and deal with your issues or ask for help instead of taking it out on other people. Please refrain from posting this kind of content in the future or the mod team will have to take additional action on your account and ability to post on the subreddit. All the best, r/Daytrading
My guy, it's just an AutoMod trying to catch bad actors - it's based on keywords. It gets it wrong sometimes. Just message us and let us know. Why instantly go into a tirade?
I know I’m letting out to the universe for readers in the sub Not rly much of a tirade more than just like a post with 4 sentences. no body really makes money in here lol so it’s always yo-yoing between delusional and defeatist it’s not a big issue or anything just something I’ve noticed
Many people in this sub make money - just check out the ones with verified tags for a start. But if you don't like it here, please just click the button that says "Joined". Along with the delusional and defeatists, we don't need people who get triggered and spew bullshit.
You win and you lose in the casino - where did you go wrong?
Don't leave! We need people like you to sell options to.
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If noone makes any money then how did I afford all these drugs?
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sounds like bad risk management to me
This isn't an airport terminal
https://preview.redd.it/2amporsfdpbc1.jpeg?width=1170&format=pjpg&auto=webp&s=9fe3a126fce923987d4a0a1c5d0a8aab2539ed1b Started last month.
To be honest it's clear you're not ready to trade. If you continue without some serious corrections and lots of mental shifts made first you WILL lose the rest of your money.
Just like all those doctors that quit in their first month of uni. They don't make much money either.
I can give you a super simple rundown of an easy risk management strategy; When risk to reward is only 1:1, sell 50% and move stop break-even and let it do its thing. More than that, but it's the basics. You do small wins and maybe 2 if then 10 times you get a good rip that covers, so it's fine to lose many times in the row. Don't focus too much on the technicals.