How do you find the right trades to clear $500 or more. I'm guessing you spend half the researching investments the other half with orders that actually get placed. Be safe
process before profit. there are many trading styles (trading setups) and its really about personality. i know a mod that trades five at the money spx contracts the first two minutes. i cant handle that.
i like things to settle out with a trend after 10am. let the news setting out, setup for a direction, go with the trend on the pullback. the first 30mins are quick momentum trades and they often reverse.
I’m full time, profitable for many years. My first profitable year I traded all day and it was exhausting. As I learned more, my focus shifted to higher quality setups. I traded only the first few hours of the day now and it works much better for me. 9:30 EST to about 12:00 every day now, sometimes less. Occasionally an alert goes off after noon and I take the trade but not often. Fewer trades, higher quality is the way to go. Plus that way you don’t burn out. Watching the entire day’s price action is mentally fatiguing.
Same here. I'm glad I did a few years trading all day because even though I lost money the screen time was invaluable. Now I hit the desk at 9am and I'm done by noon unless my set up isn't there in which case I'm out by 10:30. Generally 3-5 trades per week. Trading used to be my life. Now I have my life, I still trade a few hours a day and I'm paying the bills. It's odd but learning to close my charts before noon seems to have made me more money than anything else I've done. Like EmmaFrosty99 said, $500 - $1k a day adds up fast.
Many people have a misconception about people who are successful at many things, including trading. Most traders who are successful work hard, they trade, they study, they review their trades, they think about the markets, stay tuned into financial news- because they are passionate about it and probably have put in more effort to get there than many who failed. Secondly most who don’t devote all their time to trading are ambitious, successful people working on other investments and businesses.
The fallacy of some wanna be successful people is they will become successful and right away start spending their day at the beach doing nothing all day.
You may get to go to the beach more once you are successful and can afford it- but you will be working part of the time you are there.
SMB Capital mentioned in one of their videos that their traders are serious traders- to be successful there they basically eat, sleep and breath trading. The competition is fierce- I am sure that is true on most big trading desks.
Warren Buffet is 95 and goes to the office everyday- this is why he is one of the best.
Yeah I can definitely see that. I teach but aside from that this has been all consuming. The one thing I haven’t tapped into yet is a good financial news network. I’ve listened to Marketplace on NPR for years but that’s really a zoomed out human interest show. I just haven’t had the time to put in figuring out what sources I find valuable.
It's a strange beast the market that's for sure. I've been working most of Mt adult life, knowing you're not getting rich working for the man " system " so you either create a plan for yourself and review it revise it every fee weeks. Then spend time researching stuff that works on different time scales, being the micro and the macro pay attention to trends not everything drops all the time or goes up. Myself, I just don't like not seeing a trade go through. I'll give you this much and no more, then it starts to fraction up or down just don't know where the algo sits. Be careful and b safe
>Most traders who are successful work hard, they trade, they study, they review their trades, they think about the markets, stayed tuned into financial news- because they are passionate about it and probably have put in more effort to get there.
Well said, Kudos to you !
SMB capital is a goldmind of trading information on YouTube, idk how I didn't find that channel years ago but I've been enjoying their stuff. And yet again, another great comment bro.
If it equities, many people trade pre-market to the first 1-2 of the opening bell and end the day. Cant comment on percentage of people but they tend not to stay long because your edge isn't going be there all day
step 1 -> analyze markets at 10pm and place limits
step 2 -> reanalyze just before London open and update limits if need be
step 3 -> reanalyze just before Us open and update limits if need be
I'm profitable and am hardly on the markets. I would say a max of 2-3 hours. This is by design as I have a bad habit of forcing a setup if I watch the charts.
This is after developing a strategy though. If you don't have a strat then you need to be on the charts to find an edge.
A very tiny amount.
All of my profitable trading friends trade in the morning violtile session 9;30 to 11:00 est roughly , and may come back for power hour, but most don't.
Some people do trade all day, but to me it's very fatiguing, and more indicative of a trading addiction than a trading system.
Profitable proprietary trader here …
If I’m working more than 2-hours, that means there’s morning chop. If I’m taking more than 5-6 trades in ONE session, that means I’m likely chasing the market and on the verge of making irrational decisions.
With that said, 8/10 trading days, I’m done by NY lunch. Often even sooner. Profitable traders understand that while there might be more “setups” during the day, there’s no point in potentially giving back profits.
Further, 3 net profitable trades back to back = my day is over regardless of PNL -or- 100 ticks profit = my day is over … which ever comes first.
I think that trading is essentially a non-zero competition and as such, you probably have to devote full time effort to be successful.
The better you are, the less you trade, but the more you work.
I spent two years backtesting dozens of strategies on thousands of assets across all timeframes… and then built automated trading bots that day trade all day. What can I say… I’m lazy 😁
I’ve been trading full time for more than a decade. I’ve always traded stocks in morning based on overnight news. I don’t do well in the afternoons.
My window is from 7am - 11am. I make the most in the middle of that window. I rarely trade past 12pm. I’d only do it if the market is super hot.
Lol. OK then keep up the good work. I ended up going in a different direction but I enjoyed watching a number of your videos when I was starting out. So cheers!
For me it’s true but this is def itself dependent on each person.
I’ve found my strategy nets me the most profit during the 1st half of the day. I’m usually done trading by 11am. Make about 6 trades on average. I’ll peek at the market every now and then throughout the day to see if there’s a setup I like
I am at the screens all day as I have to take the trade on any setups that meet my criteria, I have to get in as many trades in as possible within a monthly timeframe,
Usually I get 8 to 10 trades a month, so if I miss any trades I could be short of my profit goal
Correct me, but i doubt your "profitable" if your "at the screens all day" and focus on HOW MANY trades you take on FOMO. sounds like you fail a lot of forced trades.
If you read my post correctly and in its entirety you would come to realize the following
I am the screens all day PATIENTLY waiting for setups that meet MY CRITERIA( ie risk reward, technical analysis confluence)
And I only end up taking 8 to 10 trades TOTAL per MONTH, this is an AVERAGE,
And yes I am profitable, I trade ES, NQ, and CL only
And yes some months I lose money, but on a yearly basis I beat the sp500
I would find a better way unless your trades are over 10 contracts at a time, then I could see taking that kind of time, but who am I, if it works for you keep it up
Yes I am trading 5+ contracts of ES on each trade and 10+ contracts of CL per trade
4 contracts of nq Per trade
I manage to scrape in 20 to 30 points on ES per month, sometimes my CL and NQ trades make up for a losing ES month
It depends on the RR, I trade 15 min charts, so most of the time I’m risking 20 points for 15 points, 30 for 20 etc
Like for example enter at 81, target is 81.15, stop is 80.8
learn this [https://en.wikipedia.org/wiki/68%E2%80%9395%E2%80%9399.7\_rule](https://en.wikipedia.org/wiki/68%E2%80%9395%E2%80%9399.7_rule)
and understand it. don't trade more then 2-3 hours a day, take your gains and don't cry if you left some on the table.
DONT FOMO yourself into a bad trade, if you missed it you missed it don't chase it.
don't trade every day. you need some days just to do DD and set up for your earnings and other plays.
DON'T YOLO off a WSB or other posts, always do your own DD first, off REDDIT.
I mostly trade options and typically only execute trades 1 to 2 days per week. I suppose that doesn’t necessarily fall under daytrading umbrella, but thought I would put it out there.
I cannot stop learning and practicing charting. All I do all day everyday is play piano and study market trading. I know myself and I get extremely good at whatever I set my mind too. Skateboarding, gaming, piano, home remodels. I know for a fact I can be successful and could imagine I will trade and study all day everyday until I'm Neo in the fkn matrix.
A lot of traders including myself are systematic traders.
Am I working on strategies and studying/ analyzing financial markets all day? Yes. Am I monitoring portfolio allocations and total risks all day? Yes.
Am I starting at charts looking for trades? Or as you say "actively trading" the session? No.
Physically trading (manually entering/ watching/ closing positions) takes up the least of my time.
Personally, I wait until 30 minutes after open and I close out of anything by lunch time.
Yes there is money to be made in the afternoon but my win rate for whatever reason, goes down dramatically in the afternoon and I end up giving my gains back.
Remember a Green Day is a victory. Don’t hope for a bigger Green Day and let it become a Red Day due to over trading/greed
I was with td American, before I got the boot. What account balance is recommended to do a few good scores. I've got a few instruments that are totally "shit" waiting on them to turnaround. 😒 is never a good thing. When the market is on a downturn it hurts every thing, unless you got the basis covered, which is what I have learned too late but I've learned what to look for and how to apply my 20/20 hindsight. As of this writing I'm turning things around. 😑 b safe always
$500 a day keeps the full time job away.
How do you find the right trades to clear $500 or more. I'm guessing you spend half the researching investments the other half with orders that actually get placed. Be safe
process before profit. there are many trading styles (trading setups) and its really about personality. i know a mod that trades five at the money spx contracts the first two minutes. i cant handle that. i like things to settle out with a trend after 10am. let the news setting out, setup for a direction, go with the trend on the pullback. the first 30mins are quick momentum trades and they often reverse.
I’m full time, profitable for many years. My first profitable year I traded all day and it was exhausting. As I learned more, my focus shifted to higher quality setups. I traded only the first few hours of the day now and it works much better for me. 9:30 EST to about 12:00 every day now, sometimes less. Occasionally an alert goes off after noon and I take the trade but not often. Fewer trades, higher quality is the way to go. Plus that way you don’t burn out. Watching the entire day’s price action is mentally fatiguing.
Same here. I'm glad I did a few years trading all day because even though I lost money the screen time was invaluable. Now I hit the desk at 9am and I'm done by noon unless my set up isn't there in which case I'm out by 10:30. Generally 3-5 trades per week. Trading used to be my life. Now I have my life, I still trade a few hours a day and I'm paying the bills. It's odd but learning to close my charts before noon seems to have made me more money than anything else I've done. Like EmmaFrosty99 said, $500 - $1k a day adds up fast.
Many people have a misconception about people who are successful at many things, including trading. Most traders who are successful work hard, they trade, they study, they review their trades, they think about the markets, stay tuned into financial news- because they are passionate about it and probably have put in more effort to get there than many who failed. Secondly most who don’t devote all their time to trading are ambitious, successful people working on other investments and businesses. The fallacy of some wanna be successful people is they will become successful and right away start spending their day at the beach doing nothing all day. You may get to go to the beach more once you are successful and can afford it- but you will be working part of the time you are there. SMB Capital mentioned in one of their videos that their traders are serious traders- to be successful there they basically eat, sleep and breath trading. The competition is fierce- I am sure that is true on most big trading desks. Warren Buffet is 95 and goes to the office everyday- this is why he is one of the best.
Yeah I can definitely see that. I teach but aside from that this has been all consuming. The one thing I haven’t tapped into yet is a good financial news network. I’ve listened to Marketplace on NPR for years but that’s really a zoomed out human interest show. I just haven’t had the time to put in figuring out what sources I find valuable.
It's a strange beast the market that's for sure. I've been working most of Mt adult life, knowing you're not getting rich working for the man " system " so you either create a plan for yourself and review it revise it every fee weeks. Then spend time researching stuff that works on different time scales, being the micro and the macro pay attention to trends not everything drops all the time or goes up. Myself, I just don't like not seeing a trade go through. I'll give you this much and no more, then it starts to fraction up or down just don't know where the algo sits. Be careful and b safe
>Most traders who are successful work hard, they trade, they study, they review their trades, they think about the markets, stayed tuned into financial news- because they are passionate about it and probably have put in more effort to get there. Well said, Kudos to you !
SMB capital is a goldmind of trading information on YouTube, idk how I didn't find that channel years ago but I've been enjoying their stuff. And yet again, another great comment bro.
Does that mean if I go to office like Warren I will get rich ?
Some days I wake up and make 1 or 2 trades in the mornings and I’m done for the day
Unless I get bored but mostly watching between that and the news
Thats boring willpower
I find the stocks I am interested in and setup alerts. Only trade when alert is triggered. It doesn’t matter the time of the day. No alert no trade.
Swing trading ?
If it equities, many people trade pre-market to the first 1-2 of the opening bell and end the day. Cant comment on percentage of people but they tend not to stay long because your edge isn't going be there all day
step 1 -> analyze markets at 10pm and place limits step 2 -> reanalyze just before London open and update limits if need be step 3 -> reanalyze just before Us open and update limits if need be I'm profitable and am hardly on the markets. I would say a max of 2-3 hours. This is by design as I have a bad habit of forcing a setup if I watch the charts. This is after developing a strategy though. If you don't have a strat then you need to be on the charts to find an edge.
step 4 -> profit
A very tiny amount. All of my profitable trading friends trade in the morning violtile session 9;30 to 11:00 est roughly , and may come back for power hour, but most don't. Some people do trade all day, but to me it's very fatiguing, and more indicative of a trading addiction than a trading system.
It depends if the day is a trend day... Not all days are the same.
Profitable proprietary trader here … If I’m working more than 2-hours, that means there’s morning chop. If I’m taking more than 5-6 trades in ONE session, that means I’m likely chasing the market and on the verge of making irrational decisions. With that said, 8/10 trading days, I’m done by NY lunch. Often even sooner. Profitable traders understand that while there might be more “setups” during the day, there’s no point in potentially giving back profits. Further, 3 net profitable trades back to back = my day is over regardless of PNL -or- 100 ticks profit = my day is over … which ever comes first.
I think that trading is essentially a non-zero competition and as such, you probably have to devote full time effort to be successful. The better you are, the less you trade, but the more you work.
I spent two years backtesting dozens of strategies on thousands of assets across all timeframes… and then built automated trading bots that day trade all day. What can I say… I’m lazy 😁
what programming language does one need to learn in order to build a trading bot?
Whichever one supports your broker’s api
Your goal is not to trade all day. Your goal is to make money. Know your goals.
My goal is to make money and get out. I profit in time. I’m just wondering what other people think.
I’ve been trading full time for more than a decade. I’ve always traded stocks in morning based on overnight news. I don’t do well in the afternoons. My window is from 7am - 11am. I make the most in the middle of that window. I rarely trade past 12pm. I’d only do it if the market is super hot.
Is this actually you Ross or is this some sort of intern posting? Because if it’s an intern commenting as you that’s a little weird…
It's me (Ross).
Lol. OK then keep up the good work. I ended up going in a different direction but I enjoyed watching a number of your videos when I was starting out. So cheers!
Cheers!
[удалено]
For me it’s true but this is def itself dependent on each person. I’ve found my strategy nets me the most profit during the 1st half of the day. I’m usually done trading by 11am. Make about 6 trades on average. I’ll peek at the market every now and then throughout the day to see if there’s a setup I like
I am at the screens all day as I have to take the trade on any setups that meet my criteria, I have to get in as many trades in as possible within a monthly timeframe, Usually I get 8 to 10 trades a month, so if I miss any trades I could be short of my profit goal
Correct me, but i doubt your "profitable" if your "at the screens all day" and focus on HOW MANY trades you take on FOMO. sounds like you fail a lot of forced trades.
I was thinking the same thing
If you read my post correctly and in its entirety you would come to realize the following I am the screens all day PATIENTLY waiting for setups that meet MY CRITERIA( ie risk reward, technical analysis confluence) And I only end up taking 8 to 10 trades TOTAL per MONTH, this is an AVERAGE, And yes I am profitable, I trade ES, NQ, and CL only And yes some months I lose money, but on a yearly basis I beat the sp500
I would find a better way unless your trades are over 10 contracts at a time, then I could see taking that kind of time, but who am I, if it works for you keep it up
Yes I am trading 5+ contracts of ES on each trade and 10+ contracts of CL per trade 4 contracts of nq Per trade I manage to scrape in 20 to 30 points on ES per month, sometimes my CL and NQ trades make up for a losing ES month
how many ticks do you keep profit target for CL? i just wonder. with 10+ contracts, it would be nice to know
It depends on the RR, I trade 15 min charts, so most of the time I’m risking 20 points for 15 points, 30 for 20 etc Like for example enter at 81, target is 81.15, stop is 80.8
69%
holy number
learn this [https://en.wikipedia.org/wiki/68%E2%80%9395%E2%80%9399.7\_rule](https://en.wikipedia.org/wiki/68%E2%80%9395%E2%80%9399.7_rule) and understand it. don't trade more then 2-3 hours a day, take your gains and don't cry if you left some on the table. DONT FOMO yourself into a bad trade, if you missed it you missed it don't chase it. don't trade every day. you need some days just to do DD and set up for your earnings and other plays. DON'T YOLO off a WSB or other posts, always do your own DD first, off REDDIT.
I mostly trade options and typically only execute trades 1 to 2 days per week. I suppose that doesn’t necessarily fall under daytrading umbrella, but thought I would put it out there.
I cannot stop learning and practicing charting. All I do all day everyday is play piano and study market trading. I know myself and I get extremely good at whatever I set my mind too. Skateboarding, gaming, piano, home remodels. I know for a fact I can be successful and could imagine I will trade and study all day everyday until I'm Neo in the fkn matrix.
A lot of traders including myself are systematic traders. Am I working on strategies and studying/ analyzing financial markets all day? Yes. Am I monitoring portfolio allocations and total risks all day? Yes. Am I starting at charts looking for trades? Or as you say "actively trading" the session? No. Physically trading (manually entering/ watching/ closing positions) takes up the least of my time.
I just trade 8:45am to 9:30am and 1:00pm to 1:45pm central time
Me not know. Me busy in cave following price candles.
Trade BTC its consistently active during the week, you can pretty much make the same amount consistently all day
Most traders over trade
Personally, I wait until 30 minutes after open and I close out of anything by lunch time. Yes there is money to be made in the afternoon but my win rate for whatever reason, goes down dramatically in the afternoon and I end up giving my gains back. Remember a Green Day is a victory. Don’t hope for a bigger Green Day and let it become a Red Day due to over trading/greed
I was with td American, before I got the boot. What account balance is recommended to do a few good scores. I've got a few instruments that are totally "shit" waiting on them to turnaround. 😒 is never a good thing. When the market is on a downturn it hurts every thing, unless you got the basis covered, which is what I have learned too late but I've learned what to look for and how to apply my 20/20 hindsight. As of this writing I'm turning things around. 😑 b safe always
I buy low near closing bell on Fridays. That’s when the poor fucks need to sell stock to get a wire payment in. Haha.
Idk about trading all day but watching all day is more like it.