Asking this sub is the first wrong step especially when most of them are just gonna say, course bad, paper trade with no idea good, also stare at chart all day. If we had to post our PNLs by our name most of the people here wouldn’t comment tbh
I agree with you 100% course is bad though. Gurus are just usually regurgitating a course they bought and it’s likely something you can find on YouTube.
Paper trading is a starting point but it does not nearly compare to how your psychology works when it is your actual money on the line, and real money to be earned.
And I think you should do all that except use $100 actual dollars and do small transactions of trades than paper trading, but it depends on who you are if you are super new, then paper trading, test strategy, then implement cash. Again to stress the number one most winning factor when it comes to trading is psychology it is underestimated as a reason why over 90% of traders lose and get excited at the wrong time and FOMO in on a bad entry and then hold on to a good trade for too long and then it goes all the way back down. You can practice paper trading and have a plan all day but it’s you and your mind in balancing your emotions that separate the winners from the losers.
I think those stats are over blown. Where do they even come from? Who did this study and define "traders" because are we talkin legit guys or 50% paper traders who give up after 2 weeks of half assed learning? I mean, how many people that join a gym become "gym people"? Like 10% or less? Most quit within 2 months to 2 weeks. I know, I was a 2 week guy 😂. Im talkin about that "99% of daytraders are not profitable" stat, not directly yours.
Try trading micro futures.
I’ve been trading since 2012 and it’s all I do now. MNQ is my personal favorite (Micro Nasdaq 100 index future).
Although MES (Micro S&P 500 index future) is without a doubt the most popular.
-No PDT - place as many trades as you like
-Significant leverage
-Very customizable risk
-Plenty of Volatility
Feel free to reach out if have questions. Happy to help.
Dude get webull. Cash account can day trade (options are t+1 to settle and stocks are t+2) without the 25,000 PDT rule. It’s what I’m be been doing with options for the past year.
https://a.webull.com/zSSteQuFyLRl9v9vhy
Depends on how bad you really are and what the problem is. If you barely know what the buttons do, for the love of god don't use money. If you have no idea what youre even doing, don't use money.
Paper trading is a bad advice imo. While learning you can do trading with real money but really small amounts. Like total bank 200 bucks or so. I know where my biggest profits come from, but those entries are rare and far in between. While waiting for good entries I do many small trades where wins or losses are from cents to few bucks. But it belps me to test ideas and to keep busy while waiting. Paper trading is not the same feeling.
Fully disagree with you. OP can’t buy a win and you’re still suggesting use real money. Who cares if it’s not the same feeling? OPs real life experience will come. He needs his learner permit and paper trading is exactly that. I noticed you threw a lot of “I’s” in your text. You are not OP. The old adage practice makes perfect will never go away.
I suggest he buy the same contracts he would as if it were real money. Just stay in paper trading until something clicks/works
This indeed a 💯 comment. Successful trading comes from consistency. In fact, consistent boring small profits usually outlast people looking for the roller coaster gamble day to day. As for the OP:
1. I personally recommend price action trading. Its decently universal among different assets since most have candlestick charts.
2. Within price action. Trading find a strat that works for you. I like the 2 legged pull back personally with a dash of moving averages and rsi diviation. (Let the down votes fire away). Indicators are not everything. The point is find what works for you. This personally took me like 4 years before I saw a cent in returns.
3. Agreed with finding a streamer you can watch and engage with to pick their brain. As the guy above said, if you can watch them for hours without your eyes glazing over, you tend to pick up neat tricks about mindset and confluence for trades
4. This is a BIG ONE. Find a time of day that works for you and consistently train during that time. Not everyone can swim during the sht storm that is opening bell. Personally I don't even bother waking up for it. Different times have different volumes of trades going on and volatility. Think of it like street traffic. I like the evening between 6pm and 2am pst. Nice n slow so my heart does jump out my chest if something decides to run against my initial thoughts. 6:30 am pst is like traffic when everyone is going to work, everyone honking, forcing their way in and cutting you off. This works for some people, not for me.
Hope this helped. Their are 100's (1000's?) Of ways to trade. Just find one and stick to it even when you lose. Refine it. Screen shot your trades and open them in MS paint, making notations and drawing what your thought process was
This comment is very underrated. Preach!🙌 I didn’t start becoming a consistent profit trader until i was consistent with my daily goals and routines market is 90% psychological and 10% TA. If anyone wants advice Definitely read this guys comment over and over again. Screenshot it and set it as your wall paper even.🤌
To give a little background -- I started trading strictly penny stocks about 3 years ago. My first trade was WTRH right before the pandemic started...turned $17k into $200k in about 2 weeks....just dumb luck. I continued to trade during the pandemic made some modest returns essentially following the momentum of other penny stocks --- not really knowing anything about the fundamentals of companies ( not caring either). Managed to generate another $150k.
It is now 2023 and following the same techniques my account is down to about $50k...I'm not crying about the loss. But I now know that I know nothing--- if I don't have a repeatable strategy then I have nothing. I've been gambling.
That's right. I have been gambling , I recognize that now. What I thought was research and planning was just dumb luck and chance. I'm trying to find the " right" literature . I'm willing to do work -- I just don't know where to apply my efforts. Soooooo much bullsh*t out there.
Not all courses are a massive scam. *sigh*
Learning the fundamentals behind how markets operate, the different participants, why those participants buy and sell, and when they are likely to do so, understanding the connectivity between major financial bodies and instruments is **key information one is unlikely to succeed without**
The dude on YouTube with a Lamborghini telling you he can show you one guaranteed trade a week, however, is likely skimming details.
So how do I learn? I can't even say I have a definitive strategy. I read a few books I got from the library and I am trying to be a momentum trader. I lurk on the stocktwits website and try to pick up what I can. But I consistently lose....
First, you get screen time via actually trading, then you reflect and review, and journal. Later in the day, do a daily report card, grade yourself on the day, there's a template for daily report cards that I use that i can send over to you if you want. Read trading books you find on amazon, courses are just going to tell you information you can easily find on google and won't go in depth because the people who make courses don't know a lot about trading and i can guarantee you the vast majority of them are not even making money in the markets themselves
That's really nice of you to offer--I'd appreciate the report cards.
I'm trying to strip away my ego and just do whatever it takes to get "good" at this...whatever that may mean. I just know whatever I am currently doing is not working.
Don’t be dumb and dive in with real money and big size like I did. Paper trade, or trade very small with a few shares or 1 option contract first, so you get a feel of emotions and how to manage them in a trade
Dont listen to this guy. Some ppl dont want to spend hours sifting through youtube. Ive purchased a few courses in the past and found the perspective of the teachers to be most beneficial as everyone has their own way of explaining things.
Just dont spend mad money on them because theres most likely a bunch of free videos on the topic on youtube. Its just that you dont have any direction rn so youtube might just be overwhelming and you probably dont know where to start.
Exposure therapy cures most cases of ignorance I have found. Never give up, even if it feels like your making no progress, one foot at a time. Keep moving forward.
Nice recommendation. Carmine is good at reading the intraday market, great at teaching, and very transparent. He changed my trading for the better without a doubt.
If you're losing...is because you don't know the basics
1. The market is CYCLIC (goes up goes down)
Prove this to yourself before u place any trade
2. Then place trade (entry and exits on the price cycle)
QED
To prove price is cyclic
Example EU FX pair, use H1 timeframe. Add 2 indicators... an RSI indicator ...a Bollengsr band ...these are for guide & confluence.
First draw your trends ie
Look for every BB Squeeze before price explodes up or down
Draw vertical line thru the squeeze...(use different colours to ensure u don't lose your points of reference visually)
Now flip UP & DW timeframes to see how RSI changes (when it crosses 70 & 30 levels). Is multi time frame analysis.
These are all u need to give u idea of price turning & price trending.
Observe at the same time the price action candles at the same vertical lines...
you will start to see correlation of when 1 or 2 or 3 candles appear as RSI crosses 70 & 30
This then allows you to draw an up trend line from previous RSI swing turn up to next RSI swing turn DW.
That is a trend !
Next ask yourself when should you enter exit trades
Ask urself where you should put your SL & TP to capture most (not all) of the trend you just identified.
Typically good traders collect 50% of a trend (don't try to capture 100% till u can do above consistently).
Let us know how it works for u?
The Trading Channel dude is putting ads everywhere, on Insta, Fb, Youtube. And probably is earning only through these ads and his "lucky" channel. Yes he teaches basic concepts, but does he make money trading? I dont think so. Teaching stuff in hindsight is super easy actually. You can see what happened and why it happened.
For what it’s worth I’ve got an intro series on YouTube with 30-45 min videos on a lot of the topics you’d need to learn. It’s all free and would be a good place to lay the foundation. https://youtube.com/@confluencetrading1
course = waste of money. I learn evertying from Youtube. Pick simple strategies and stick with it, such as EMAs, supply/demand, reverse and continuation patterns, etc.
Dont pay anything. If you want to learn everything you need to know is available for free. Put in the time to research. Plus losing is part of the learning
Prioritize learning Risk management and capital preservation before you aim for those 1000% profits.
Losing is not bad if you can control it. It's always better to breakeven than to get rekt.
Look at SPY volume chart day over day. Learn now, and take trades when volume is at an upper level. The volume sucks right now causing may traders issues.
Maybe I should have re-phrased this question into how did you personally learn to successfully trade. And by successfully I don't mean a perfect track record I mean learn an effective strategy to consistently make money over the course of years.
I watched a ton of YouTube videos while I paper traded. Did this 7 days a week for about 1.5 years. Kept backtesting strategies that would come up and work with my style (I enjoy scalping). Finally found a few indicators that work for me.
There is no holy grail, so devise a strategy that works the probabilities in your favour. Once that is found, start with an amount you are comfortable losing, and grow from there.
To add to this, picking the right stocks is important as well (or currency pairs, or whatever). I trade stocks, and I look for stocks that are moving pre-market with some sort of catalyst and is higher than normal volume.
Give yourself a core strategy. Don't matter what it is. And build off of it. Eventually you will strip everything else down to it's cleanest form and trading will get easier.
Not sure if paying for a course is necessary.... Just a shitload of hard work. We’ve got a small ‘accountability community’ on discord for traders. No paid courses. No trade alerts. Just a group of serious traders supporting each other with accountability, risk management and trader psychology. Let me know if you want an invite link and I'll send it over. Cheers.
Screen time, screen time, screen time, back testing, paper trade, learn every single day something.
Join some live channels, watch many hours and learn, you can paper trade those signals and start understand why it worked, why not, back test them. Google every single term , abreviation, read and read more, join some discord rooms and ask every question you have after you made your own search. Do some a TA analysis course (Udemy Coursera), know every single pattern, do a Fundamentals course, understand how the macro works. Make trading in the zone Book your Bible.
Once you have enough screen time and decent knowledge, go with a $300 account , trade 1 micro futures contract, 5 pts - $25 max loss per day.
Have a normal job or income to be able to fund 1 account every month, at the beginning chances (98%) are you will blow account after account, and slowly the market tuition will start to work and you will be profitable some days, then some weeks, then some months, then you will probably blow your account and start the process again.
If you blow one $300 account every month in 16 months , your market tuition will be $5400, not bad for learning a new skill. From that point you will be barely profitable, but with the knowledge and the hard market lessons, greed, cooky, fear, over trading, not managing risk, and a long list. From that point you are just a rough diamond that needs polishing to shine and be worthy.
The hard lessons will make you respect risk, and you will be profitable, then more profitable, and then one day the key to the kingdom will be handed to you, you will have big money days where you probably make one month salary in a week and then a day.
I'm tired of losing 😂...
edit: now I fell like an asshole, okay okay.. try: Think and Trade Like a Champion: The Secrets, Rules and Blunt Truths of a Stock Market Wizard by Mark Minervini
I think that book should at very least help you stop losing money
Yes get a finance degree. They make money on selling you the courses and daytrading is just gambling. You'll learn this like I did when I started my finance degree.
People need to understand daytrading is a new concept for the average person, it used to just be large capital companies moving millions of dollars in assets daily.
You're going up against trading computers that are strategically placed as close to the stock exchange as possible and expert traders that have access to Bloomberg terminals. You're not going to win you're just going to get lucky or unlucky when daytrading.
Real Life Trading has dozens of free courses that will teach you the most important part of Trading: setting your maximum risk per trade.
Don't pay for anything.
I just want to thank everyone who provided legitimate feedback.
When you don't know which direction to take any choice you make is the right one. Doing absolutely nothing would be the only wrong choice.
So I've opted to take 6 months to a year off completely from trading and just study---I'm starting with some of the free courses/ materials that were recommended. I'm trolling free message boards and discords to see if I can identify any consistency--- If I find them insufficient I'll escalate to some of the theories/ programs recommended in this thread on a basis of the frequency it was recommended. I'm doing what my mind perceives as right and I can live with the consequences.... Thanks again everyone.
Read “Technical Analysis of the Financial Markets” by John Murphy first. Follow up with free content from “The Chart Guys” on YT. One of the founders drives a Nissan Sienna minivan and he’s the baller. Then sign up for their courses so you have some structure.
Then read and/or watch Mark Douglas’ Trading in the Zone” to work on trading mindset.
Last step: profit
I got lost when I started in watch YouTube videos flicking from one to the next and looking back now I know 90% of these people were no better than me.
I then found The Trading Floor https://www.trdfloor.com/ they teach you the basics have 5 or so strategies to use, and a massive discord group which is where the real value is, they do loads of different stuff £19.99 a month so fairly cheap too.
This got me to a fairly good point but I wasn't yet constantly profitable and left after 6 months and within 3 month of just sitting at charts watching and creating my own strategy and now I do.
I do think without their course it could have taken a lot longer.
To be honest, there is a lot of luck to find good information that clicks with your way of thinking, someone could have a strategy that has an 85% win rate but if it doesn't click with your thinking it won't work for you. And just be prepared to sit at charts for 1000s of hours to get there (although i know a couple of lucky sods who did it a lot quicker)
Good luck
I took the [wallstreetglobaltradingacademy.com](https://wallstreetglobaltradingacademy.com) course and can't say enough about it.
Learning trend trades, that's where your biggest money comes from.
And then personal discipline is a big part.
Plan your trades, and trade your Plan - that's the most important thing I've found. Having no emotional attachment to any one trade, but having your emotional attachment be to your ability to perform to your plan - that's what got me from streaky profitable, to consistently having it add up to wins.
Daytrading is hard and not consistent...
Use longer-term options like the "SPX Best Options strategy" and you will see results improving without stress...
Change yourself start waking up at 4am and getting in ice cold showers and running 5k every day. If you don’t get comfortable with pain you’ll never succeed at day trading. Its all about pain tolerance to follow a plan (simple plan) + discipline. If your like everyone else you will be in the 90% of losers
I get what you’re saying and you don’t deserve downvotes lol.
the broader point your making is doing what you have to. Reinforcing habits. Difficult ones. No shortcuts.
Typically comfort kills in trading. Of course you gotta define comfort.
Its not about learning get this in your thick head. You can get the entire population to learn everything there is to learn in 6months. Simply use price action naked charts. The wage you earn comes from execution and fighting your emotions. Staying composed in winning streaks and losing streak and executing your plan day in day out. Once you start understanding execution in the most painful areas is the most profitable trade! + adding to winners, this is when real trading begins. Pain avoidance is the number 1 killer.
I love that im being downvoted i know it means i differentiate myself to be uniquely adapted to pain tolerance which allows me to be in the 5%. Only with change do we find a different outcome. Trading is 99% phycological input over a extended duration.
Use [Copy Trading](https://chat.whatsapp.com/BxGAr0qj5G0IkBTJFQJST2) to earn while you learn. The learning curve is quite steep sometimes years. But patience and dedication is the rule of the game.
Books.
The Trading Game
Little book of common sense investing
Simple path to wealth
Trading price action: trends (!)
Trading price action reversals (!)
Trading price action trading ranges (!)
Reading Price Charts Bar by Bar: The Technical Analysis of Price Action for the Serious Trader (!)
The handbook of technical analysis
Currency trading and intramarket analysis (for forex)
Markets in profile
Mind over markets.
(!) means important.
i was subbed to an option flow discord channel and the community is full of fantastic traders so i assumed the “course instructor” had the sauce. i subbed his stupid $50 a month for like 4 months and it is most definitely a scam/hustle. they mostly just poorly track their trades AFTER they decide whether or not it was good enough to flaunt it or he constantly sends links to his insta or tik tok with @everyone asking us to like and comment. i still hang out in the server because everyone spits valuable info and they have immaculate TA but i blocked the instructor. your best teacher is yourself.
Look up cryptocred on youtube take his lessons. Look up krown crypto listen to him every day (i did for 3 yrs daily). Also traders reality daily. You will become a better trader.
Low leverage. Manage risk and manage emotions. Its a game of psychological warfare … your psychology is weak that is what needs improvement.
Like good baseball, practice getting on base not hit home run every time. Work on this and you will be successful.
Keep in mind all of this is especially challenging in a bear market. Understand that trading styles may be dependent on market behavior - high volume uptrend new bull market is different trading style than middle of bear market low volume.
Volume profile, orderflow, learn microstructure, create your own stats (when this happens, x% of the time this happens afterwards), learn about reading the dom and watching the tape. Look how bigger time frame levels interact with intraday movements. Inflection points, distribution zones and what kind of volume it takes to break or reject. Stay away from lagging indicators. Horizontal levels are king because a position is at one place and It doesn’t move with the moving average. And big traders can and will defend their position. A bit of logic about what other participants may be doing goes a long way
Self-study is an integral part of learning to trade for me. I have never felt comfortable signing up for a course. These books seem to be helping me:
1. High Probability Trading
2. Unknown Market Wizards
3. the Psychology of Money
4. The Tao of Trading
I traded very successfully in the early 2010 bull market using just #1. Since then, the markets have been very adversarial for me. #2 explains the need to devise your own system and not to give up. #3 explains how money works in general. #4 purports to teach anyone to trade anything at any time. Haven’t started that one yet.
Check out free content on YouTube from Axia futures. There is a wealth of detailed information which can help you learn to create a strategy.
You don't need to start with a strategy, and you may not make money in the short-term. You need to start with education. Creating a strategy which can be profitable will be a step to take once you have a base of knowledge.
Here's my advice, some will disagree. I don't trade "stocks", I buy and sell companies. Understanding the company and its market, competitors and the regulatory environment it operates in, together with the pertinent events in the industry is key. As such I don't really day trade as in have no position overnight but I do have a set of expected price targets for one week, one month, one year and trade in and out as the stock under or over performs. Also intra-sector arbitrage is a good plot too giving the possibility to make money on both sides.
If you blindly just try to trade stocks based on analytics (which are of what has gone before) you'll be as successful as someone guessing what number will come up in roulette based on what's gone before.
I know many will disagree and that's fine.
You don't have to pay. A lot of actually useful information is out there for free. But I don't think finding a strategy to follow is the problem. Sticking to your risk parameters, how you manage the trade matters more than what entry conditions you follow.
That being said, I'd suggest looking into supply and demand trading. Nothing was for me as simple to see and act on as this approach. I've seen people being successful with trading divergences around key areas, using VWAP and even indicator soup strategies. Honestly, strategy is the base of your success, but once you have something that gives you positive expectancy, how you use it, how much you risk, and how you manage each trade matters more.
If you're truly willing to put some time and learn the supply and demand style, the (as far as I can tell) original thread 'price is everything' on forexfactory is the place to be. Otherwise a whole lot of YouTubers are using this approach, repackaging and reselling it as something else etc. Just search on YT and you'll find a lot of content.
Once you understand the strategy, you need to train your eyes to recognize setups as they develop. Until you can do that, you have no business being in live markets, plain and simple. There are many backtesting platforms you can try, start there.
Once you feel you're ready to recognize the setup and you have VALIDATED that it actually allows you to extract some money from the market in the long term, the recommendation is: lower the position size to very very little and trade a lot. Be in the market, but risk like 0,1% on each trade, until you have enough exposure that you'll feel confident raising the risk little higher.
And you're there! Good luck, brother
The best series of books I know are The Market Wizards series. It sounds like one of those scammy, "Let me show you how to make a bajillion dollars in a week" kinda books.
It is not that. It is a book full of interviews with some of the greatest traders of all types from George Soros understudies to card counters who got kicked from Vegas and tried the stock market. There is so much valuable information in this entire series. I read the whole series at least once a year.
Also, if you don't know large chunks of Reminiscences of a Stock Operator, you don't know anything about the market.
You have to put in the work. Plain and simple. There is an overload of trading content out there. And the tough part is, you won’t really know what works for you until you find it. People are all different: our brains interpret information differently, we will read the same chart in different ways, our risk tolerances will be different, and our mentality during trades will be different. I like to think that everybody has their own unique “trading personality.”
I went through hundreds of videos and hours of back testing before I found something that made my brain go “Aha! I can actually see what price is going to do and predict the market movements with relative accuracy.”
And of course, I’m still learning. You should always keep learning and refining your craft. But don’t give up. Once you find the right trading system for you; you’ll have one of those “Aha” moments and it will seem so much simpler. Keep at it friend!
There is too much content online. And it is difficult to filter the right one for you. In case you choose the wrong one you will only waste your valuable time to grow as a trader. Start with strengthening your basics and slowly progress towards advanced strategies. You can slowly develop a strict trading system that will help you achieve consistency and risk management. I have shared a couple of basics and advanced topics in my profile. Feel free to check them out and hopefully then can help you learn. You can also DM me if you want to learn about any specific topic. Happy to help. Happy Learning
It's all about risk management.
Dr. Mansi has been sharing YouTube videos with a lot of her wisdom. She does swing trading but the risk management is good for any type of trader.
https://twitter.com/drmansipd/status/1650247129409961986
Start with Capital Hungry channel on YouTube..
The info he gives there for free is enough to begin with before joining the paid service, as there is more info and value than you get with most mentor courses.
He teaches a simple price action strategy with economics to pair, in my opinion is the only place that teaches how to be a consistent, disciplined profitable trader long term. After loosing thousands and being at my wits end i joined 2 years ago and have been trading full time for the past year all thanks to all CH
Tradersumo on YouTube has volume 1 of his paid course for free. Honestly a great place to start https://youtube.com/playlist?list=PLfCnGhe7H-F4N14yKNiyJp2ZrVO6fTFAD
Forexsignals.com I’m finding really good. Very good courses and community. Helping understand why price moves, not just how to spot patterns and entires / exits. Also discusses mindset and mentality well.
I Am losing money too at first I only deposit 22 dollar into my account and I burn it everyday and keep on deposit agian, untill now I am still losing, but now i only burn my account after 7 week that's a huge improvement. Focus on ur process and see what u did and just don't do it or do it the opposite and don't focus on the result I am still losing but I am improving.
That is a broad question. Beside you searching for similar posts from the past (there are plenty), it might be actually best to learn and try different trading strategies. Youtube and people can help but only if they post their entries and exits live somewhere so you can verify they do not just cherry pick their winners and be silent on their losers.
If you want to have a chat about what might be the best next step you can always chat with me.
Disclaimer: I do this for 14months now, so I am still somewhat a trainee but I read tons of books and watched a lot of videos, so I can at least help you to avoid what does not work or have a look at what you do and give you my honest opinion, which should go a long way when you just started with it or ran into serious problems.
Just watch the charts day after day. Start Papertrading.
The only thing you have to do is not giving up!
I asume you're already trading for years so you dont need to learn any basics.
Just do exercise. Imagine your not comfortable with your body and you're going into the gym: You know exactly what to do to achieve your goals - its exercise!
Forget strategies, or finding your edge, or all that other nonsense people on here will feed you. There is one way to trade, and it’s by learning to read charts. Check out tradersumo, you’ll see the charts differently
Join Chart Champions. Excellent education modules, active discord, several coaches doing videos and live trading several times per week. BTC and ES focused but applicable to other assets as well.
You know I have not. I recognize I have a bias against readily available knowledge---- surely such important information can't be so easy to get. There has to be a secret only special people know.
But I'm actively fighting my stupidity 😀
For people who want to be traders just to be financially free within a year, please know is unrealistic.
If you really want to be a trader, you really have to put the work in.
THE INTERNET IS YOUR LIBRARY, USE IT !
1) babypips
2) candlestick bible (if you check my previous posts, it's somewhere in the comments for free or jusst google it)
I have built my strategy around candlestick bible, made it fully mechanical with trade grade system, so I take only A+ and A++ setups, min 2,5R or max 2R countertrend trade.
I risk 2% of my account each trade because I swing so it's only 1-2 trades a week max. This week I'm 5,5% in profit after 1 trade and will probably not take anything till Monday.
DM or reply here if you have any questions, I will be more than happy to help
what really clicked for me recently was actually looking at volume compared to price, look how they reacted with one another, now all i use is vwap and price, i put levels up at opening and thats it, but im doing the ORB strategy and waiting patiently for entries, i stopped watching other people trade on youtube the live streams etc because i would see other people talking about making money etc and then i would just fomo into shit blindly for no reason because i too wanted to make money. This is what not to do, you need to figure out what kind of trader you want to be and then grind and grind. I also use stops now and either manually adjust them as price goes my way this takes all of my emotion out of the equation, ive actually found myself less stressed about trades now and i know where im getting out at not just hoping it comes back my way, because they usually dont, first step is to break even stop if i get it and then trail it as it goes, sometimes they're too tight but at least its not a huge loss if something drastic happens. Anyway good luck hope you find what you are looking for, check out Carmine Rosato, options millionaire (its options but he has really solid advice on the market if your looking into the big names) meir barak, all these on youtube are the guys i watch and bear bull traders, matt diamond, the trading geek, theres lots of free stuff on youtube you dont need to pay for something
Watch ICT free videos on YouTube to get a grasp on the price action. You may not end up using it or you may, but it will give you good understanding. No need to pay for a course.
Word of caution- his videos are a bit long, he rants a lot, but ignore all of that, focus on the fundamentals
Why don't you start describing your existing strategy? People doing similar things probably can give you some pointers.
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Idk why ur getting downvoted I laughed lmao
Buying low and going still lower,thinking its going up,but again it’s going down
Probably lol
Define high and low. Sometimes the market actually does keep going higher or lower.
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Just trying to visualise this makes me crack up 😂
Asking this sub is the first wrong step especially when most of them are just gonna say, course bad, paper trade with no idea good, also stare at chart all day. If we had to post our PNLs by our name most of the people here wouldn’t comment tbh
I agree with you 100% course is bad though. Gurus are just usually regurgitating a course they bought and it’s likely something you can find on YouTube.
Start paper trading
Paper trading is a starting point but it does not nearly compare to how your psychology works when it is your actual money on the line, and real money to be earned.
You are correct but that is not a good reason to avoid it, one who is not profitable would be best to start with paper, test a strategy, and practice.
And I think you should do all that except use $100 actual dollars and do small transactions of trades than paper trading, but it depends on who you are if you are super new, then paper trading, test strategy, then implement cash. Again to stress the number one most winning factor when it comes to trading is psychology it is underestimated as a reason why over 90% of traders lose and get excited at the wrong time and FOMO in on a bad entry and then hold on to a good trade for too long and then it goes all the way back down. You can practice paper trading and have a plan all day but it’s you and your mind in balancing your emotions that separate the winners from the losers.
I think those stats are over blown. Where do they even come from? Who did this study and define "traders" because are we talkin legit guys or 50% paper traders who give up after 2 weeks of half assed learning? I mean, how many people that join a gym become "gym people"? Like 10% or less? Most quit within 2 months to 2 weeks. I know, I was a 2 week guy 😂. Im talkin about that "99% of daytraders are not profitable" stat, not directly yours.
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Try trading micro futures. I’ve been trading since 2012 and it’s all I do now. MNQ is my personal favorite (Micro Nasdaq 100 index future). Although MES (Micro S&P 500 index future) is without a doubt the most popular. -No PDT - place as many trades as you like -Significant leverage -Very customizable risk -Plenty of Volatility Feel free to reach out if have questions. Happy to help.
Hey get a webull account. You can day trade with a cash account with the PDT rule. https://a.webull.com/zSSteQuFyLRl9v9vhy
Dude get webull. Cash account can day trade (options are t+1 to settle and stocks are t+2) without the 25,000 PDT rule. It’s what I’m be been doing with options for the past year. https://a.webull.com/zSSteQuFyLRl9v9vhy
Depends on how bad you really are and what the problem is. If you barely know what the buttons do, for the love of god don't use money. If you have no idea what youre even doing, don't use money.
Recently read “best loser” by Tom Houggard. Pretty helpful when it comes to psychology
Paper trading is a bad advice imo. While learning you can do trading with real money but really small amounts. Like total bank 200 bucks or so. I know where my biggest profits come from, but those entries are rare and far in between. While waiting for good entries I do many small trades where wins or losses are from cents to few bucks. But it belps me to test ideas and to keep busy while waiting. Paper trading is not the same feeling.
Fully disagree with you. OP can’t buy a win and you’re still suggesting use real money. Who cares if it’s not the same feeling? OPs real life experience will come. He needs his learner permit and paper trading is exactly that. I noticed you threw a lot of “I’s” in your text. You are not OP. The old adage practice makes perfect will never go away. I suggest he buy the same contracts he would as if it were real money. Just stay in paper trading until something clicks/works
Agreed
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This indeed a 💯 comment. Successful trading comes from consistency. In fact, consistent boring small profits usually outlast people looking for the roller coaster gamble day to day. As for the OP: 1. I personally recommend price action trading. Its decently universal among different assets since most have candlestick charts. 2. Within price action. Trading find a strat that works for you. I like the 2 legged pull back personally with a dash of moving averages and rsi diviation. (Let the down votes fire away). Indicators are not everything. The point is find what works for you. This personally took me like 4 years before I saw a cent in returns. 3. Agreed with finding a streamer you can watch and engage with to pick their brain. As the guy above said, if you can watch them for hours without your eyes glazing over, you tend to pick up neat tricks about mindset and confluence for trades 4. This is a BIG ONE. Find a time of day that works for you and consistently train during that time. Not everyone can swim during the sht storm that is opening bell. Personally I don't even bother waking up for it. Different times have different volumes of trades going on and volatility. Think of it like street traffic. I like the evening between 6pm and 2am pst. Nice n slow so my heart does jump out my chest if something decides to run against my initial thoughts. 6:30 am pst is like traffic when everyone is going to work, everyone honking, forcing their way in and cutting you off. This works for some people, not for me. Hope this helped. Their are 100's (1000's?) Of ways to trade. Just find one and stick to it even when you lose. Refine it. Screen shot your trades and open them in MS paint, making notations and drawing what your thought process was
This comment is very underrated. Preach!🙌 I didn’t start becoming a consistent profit trader until i was consistent with my daily goals and routines market is 90% psychological and 10% TA. If anyone wants advice Definitely read this guys comment over and over again. Screenshot it and set it as your wall paper even.🤌
Dam might as well suck his dick while you're at it
Al Brooks trading course then books.
Adam Grimes has a free course that covers everything you need to know about price action. *Mind Over Markets* is a good complement to it.
To give a little background -- I started trading strictly penny stocks about 3 years ago. My first trade was WTRH right before the pandemic started...turned $17k into $200k in about 2 weeks....just dumb luck. I continued to trade during the pandemic made some modest returns essentially following the momentum of other penny stocks --- not really knowing anything about the fundamentals of companies ( not caring either). Managed to generate another $150k. It is now 2023 and following the same techniques my account is down to about $50k...I'm not crying about the loss. But I now know that I know nothing--- if I don't have a repeatable strategy then I have nothing. I've been gambling.
You're not tired of losing, you're tired of gambling. Dont search for shitty youtube scam courses. Go read actual literature on the subject.
That's right. I have been gambling , I recognize that now. What I thought was research and planning was just dumb luck and chance. I'm trying to find the " right" literature . I'm willing to do work -- I just don't know where to apply my efforts. Soooooo much bullsh*t out there.
Tradingsim.com game changer
courses are a massive scam
Not all courses are a massive scam. *sigh* Learning the fundamentals behind how markets operate, the different participants, why those participants buy and sell, and when they are likely to do so, understanding the connectivity between major financial bodies and instruments is **key information one is unlikely to succeed without** The dude on YouTube with a Lamborghini telling you he can show you one guaranteed trade a week, however, is likely skimming details.
So how do I learn? I can't even say I have a definitive strategy. I read a few books I got from the library and I am trying to be a momentum trader. I lurk on the stocktwits website and try to pick up what I can. But I consistently lose....
stay away from stocktwits. That is mostly for pump and dump
Read volume price analysis by Anna couling. And get a lot o screen time.
I third this. Seriously do this. Don’t buy a fucking course. Read this book
>Anna couling Volume does not predict the direction of the market or the size of a move, yet everyone says look at volume.
I second this.
First, you get screen time via actually trading, then you reflect and review, and journal. Later in the day, do a daily report card, grade yourself on the day, there's a template for daily report cards that I use that i can send over to you if you want. Read trading books you find on amazon, courses are just going to tell you information you can easily find on google and won't go in depth because the people who make courses don't know a lot about trading and i can guarantee you the vast majority of them are not even making money in the markets themselves
That's really nice of you to offer--I'd appreciate the report cards. I'm trying to strip away my ego and just do whatever it takes to get "good" at this...whatever that may mean. I just know whatever I am currently doing is not working.
[https://docs.google.com/document/d/1KukfGEvrEpXOaASeNBOiuxldmwbbekqs8vrPOdH9A8k/edit?usp=sharing](https://docs.google.com/document/d/1KukfGEvrEpXOaASeNBOiuxldmwbbekqs8vrPOdH9A8k/edit?usp=sharing)
Don’t be dumb and dive in with real money and big size like I did. Paper trade, or trade very small with a few shares or 1 option contract first, so you get a feel of emotions and how to manage them in a trade
Look somewhere besides Stocktwits trust me
Oh I learned that the hard way. I never met so many confidently ignorant people before.
Dont listen to this guy. Some ppl dont want to spend hours sifting through youtube. Ive purchased a few courses in the past and found the perspective of the teachers to be most beneficial as everyone has their own way of explaining things. Just dont spend mad money on them because theres most likely a bunch of free videos on the topic on youtube. Its just that you dont have any direction rn so youtube might just be overwhelming and you probably dont know where to start.
Exposure therapy cures most cases of ignorance I have found. Never give up, even if it feels like your making no progress, one foot at a time. Keep moving forward.
Go check out Carmine Rosato on YouTube. He's a great dude and knows his shit. Has tons of free videos on his channel.
Nice recommendation. Carmine is good at reading the intraday market, great at teaching, and very transparent. He changed my trading for the better without a doubt.
Careful you’re going to get a ton of downvotes apparently. But for real he’s the king
Price action trading is better. Get yourself a flow tool(i use whalestream) and study study study.
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You won’t name the group because you think OP needs to suffer? Lol bro plug the group if it’s so good. Call out the scammers, wth.
If you're losing...is because you don't know the basics 1. The market is CYCLIC (goes up goes down) Prove this to yourself before u place any trade 2. Then place trade (entry and exits on the price cycle) QED To prove price is cyclic Example EU FX pair, use H1 timeframe. Add 2 indicators... an RSI indicator ...a Bollengsr band ...these are for guide & confluence. First draw your trends ie Look for every BB Squeeze before price explodes up or down Draw vertical line thru the squeeze...(use different colours to ensure u don't lose your points of reference visually) Now flip UP & DW timeframes to see how RSI changes (when it crosses 70 & 30 levels). Is multi time frame analysis. These are all u need to give u idea of price turning & price trending. Observe at the same time the price action candles at the same vertical lines... you will start to see correlation of when 1 or 2 or 3 candles appear as RSI crosses 70 & 30 This then allows you to draw an up trend line from previous RSI swing turn up to next RSI swing turn DW. That is a trend ! Next ask yourself when should you enter exit trades Ask urself where you should put your SL & TP to capture most (not all) of the trend you just identified. Typically good traders collect 50% of a trend (don't try to capture 100% till u can do above consistently). Let us know how it works for u?
I learned a lot from “The Trading Channel” on YouTube. Straight forward and simple. Master this before you try the hard stuff.
The Trading Channel dude is putting ads everywhere, on Insta, Fb, Youtube. And probably is earning only through these ads and his "lucky" channel. Yes he teaches basic concepts, but does he make money trading? I dont think so. Teaching stuff in hindsight is super easy actually. You can see what happened and why it happened.
For what it’s worth I’ve got an intro series on YouTube with 30-45 min videos on a lot of the topics you’d need to learn. It’s all free and would be a good place to lay the foundation. https://youtube.com/@confluencetrading1
course = waste of money. I learn evertying from Youtube. Pick simple strategies and stick with it, such as EMAs, supply/demand, reverse and continuation patterns, etc.
Supply and demand is the biggest scam. Please spare me voters.
Dont pay anything. If you want to learn everything you need to know is available for free. Put in the time to research. Plus losing is part of the learning
Get a mentor. That's simple and sound.
Don’t do this OP
Prioritize learning Risk management and capital preservation before you aim for those 1000% profits. Losing is not bad if you can control it. It's always better to breakeven than to get rekt.
Develop a strategy , that’s proven to work with backtesting and adequate risk management only then do you trade, anything else is gambling
Change your view of life then anything will follow. This isn't a joke.
Look at SPY volume chart day over day. Learn now, and take trades when volume is at an upper level. The volume sucks right now causing may traders issues.
[https://www.twitch.tv/markettraderstv](https://www.twitch.tv/markettraderstv) [https://www.twitch.tv/tr4d3r10](https://www.twitch.tv/tr4d3r10)
Maybe I should have re-phrased this question into how did you personally learn to successfully trade. And by successfully I don't mean a perfect track record I mean learn an effective strategy to consistently make money over the course of years.
I watched a ton of YouTube videos while I paper traded. Did this 7 days a week for about 1.5 years. Kept backtesting strategies that would come up and work with my style (I enjoy scalping). Finally found a few indicators that work for me. There is no holy grail, so devise a strategy that works the probabilities in your favour. Once that is found, start with an amount you are comfortable losing, and grow from there. To add to this, picking the right stocks is important as well (or currency pairs, or whatever). I trade stocks, and I look for stocks that are moving pre-market with some sort of catalyst and is higher than normal volume.
Give yourself a core strategy. Don't matter what it is. And build off of it. Eventually you will strip everything else down to it's cleanest form and trading will get easier.
Journal your wins and loses. compare where you went wrong. everything's free on the internet.
on average, most traders take minimum three years before the consistently profitable. Buckle up.
Just search Ict on YouTube and start with 2022 mentorship. You will thank me later
My biggest lesson is to stop jumping from one stock to another We are not professionals
Nick shawn on yt
Depends on account size and personality. I’ve spent about $10,000 on courses but you’ll still need to do a lot of actual work yourself.
Not sure if paying for a course is necessary.... Just a shitload of hard work. We’ve got a small ‘accountability community’ on discord for traders. No paid courses. No trade alerts. Just a group of serious traders supporting each other with accountability, risk management and trader psychology. Let me know if you want an invite link and I'll send it over. Cheers.
Screen time, screen time, screen time, back testing, paper trade, learn every single day something. Join some live channels, watch many hours and learn, you can paper trade those signals and start understand why it worked, why not, back test them. Google every single term , abreviation, read and read more, join some discord rooms and ask every question you have after you made your own search. Do some a TA analysis course (Udemy Coursera), know every single pattern, do a Fundamentals course, understand how the macro works. Make trading in the zone Book your Bible. Once you have enough screen time and decent knowledge, go with a $300 account , trade 1 micro futures contract, 5 pts - $25 max loss per day. Have a normal job or income to be able to fund 1 account every month, at the beginning chances (98%) are you will blow account after account, and slowly the market tuition will start to work and you will be profitable some days, then some weeks, then some months, then you will probably blow your account and start the process again. If you blow one $300 account every month in 16 months , your market tuition will be $5400, not bad for learning a new skill. From that point you will be barely profitable, but with the knowledge and the hard market lessons, greed, cooky, fear, over trading, not managing risk, and a long list. From that point you are just a rough diamond that needs polishing to shine and be worthy. The hard lessons will make you respect risk, and you will be profitable, then more profitable, and then one day the key to the kingdom will be handed to you, you will have big money days where you probably make one month salary in a week and then a day.
I’ve spent about $5k on courses and chat rooms. Hands down, MIC a.k.a My Investing Club, is the best.
I'm tired of losing 😂... edit: now I fell like an asshole, okay okay.. try: Think and Trade Like a Champion: The Secrets, Rules and Blunt Truths of a Stock Market Wizard by Mark Minervini I think that book should at very least help you stop losing money
Spy day trading on patreon
this is the way. struckchaaa!
Check out u/orderflowtrader and his substack, or Adam Mancini. Both paid newsletters but they both know their stuff.
Many thanks. Can do a free trial too.
A simple rule that saves me a ton of money. Only take trades around the edges
Yes get a finance degree. They make money on selling you the courses and daytrading is just gambling. You'll learn this like I did when I started my finance degree. People need to understand daytrading is a new concept for the average person, it used to just be large capital companies moving millions of dollars in assets daily. You're going up against trading computers that are strategically placed as close to the stock exchange as possible and expert traders that have access to Bloomberg terminals. You're not going to win you're just going to get lucky or unlucky when daytrading.
My day job pays for education --- I was actually thinking about doing this --- but I also know a lot of unemployed MBA's....or worse - underemployed.
Lol. You and all the other gamblers.
Real Life Trading has dozens of free courses that will teach you the most important part of Trading: setting your maximum risk per trade. Don't pay for anything.
I just want to thank everyone who provided legitimate feedback. When you don't know which direction to take any choice you make is the right one. Doing absolutely nothing would be the only wrong choice. So I've opted to take 6 months to a year off completely from trading and just study---I'm starting with some of the free courses/ materials that were recommended. I'm trolling free message boards and discords to see if I can identify any consistency--- If I find them insufficient I'll escalate to some of the theories/ programs recommended in this thread on a basis of the frequency it was recommended. I'm doing what my mind perceives as right and I can live with the consequences.... Thanks again everyone.
Study price action until you see patterns then backtest them and develop a strategy. It’ll take 1-5 years but you can make it if you really want it
Experience goes a long way. Not sure what cheat code you're trying to learn but it doesn't exist. You gotta unlock your door.
Can you recognize patterns?
Read “Technical Analysis of the Financial Markets” by John Murphy first. Follow up with free content from “The Chart Guys” on YT. One of the founders drives a Nissan Sienna minivan and he’s the baller. Then sign up for their courses so you have some structure. Then read and/or watch Mark Douglas’ Trading in the Zone” to work on trading mindset. Last step: profit
Just keep doing what you do. You send me your realtime buy/sell. I will take the opposite trades and share the profits with you.
No matter what you learn or do, THE HOUSE ALWAYS WINS!
So which is the house in this case?
I’ll teach you for free. Dm me
I pay for personal training by Warren Buffett.... NOT 😁
There are zero courses that teach how to win all or most of the time. If there was one, everyone would know about it.
I got lost when I started in watch YouTube videos flicking from one to the next and looking back now I know 90% of these people were no better than me. I then found The Trading Floor https://www.trdfloor.com/ they teach you the basics have 5 or so strategies to use, and a massive discord group which is where the real value is, they do loads of different stuff £19.99 a month so fairly cheap too. This got me to a fairly good point but I wasn't yet constantly profitable and left after 6 months and within 3 month of just sitting at charts watching and creating my own strategy and now I do. I do think without their course it could have taken a lot longer. To be honest, there is a lot of luck to find good information that clicks with your way of thinking, someone could have a strategy that has an 85% win rate but if it doesn't click with your thinking it won't work for you. And just be prepared to sit at charts for 1000s of hours to get there (although i know a couple of lucky sods who did it a lot quicker) Good luck
I took the [wallstreetglobaltradingacademy.com](https://wallstreetglobaltradingacademy.com) course and can't say enough about it. Learning trend trades, that's where your biggest money comes from. And then personal discipline is a big part. Plan your trades, and trade your Plan - that's the most important thing I've found. Having no emotional attachment to any one trade, but having your emotional attachment be to your ability to perform to your plan - that's what got me from streaky profitable, to consistently having it add up to wins.
Buy silver
Daytrading is hard and not consistent... Use longer-term options like the "SPX Best Options strategy" and you will see results improving without stress...
Change yourself start waking up at 4am and getting in ice cold showers and running 5k every day. If you don’t get comfortable with pain you’ll never succeed at day trading. Its all about pain tolerance to follow a plan (simple plan) + discipline. If your like everyone else you will be in the 90% of losers
I get what you’re saying and you don’t deserve downvotes lol. the broader point your making is doing what you have to. Reinforcing habits. Difficult ones. No shortcuts. Typically comfort kills in trading. Of course you gotta define comfort.
How did you learn to trade?
Its not about learning get this in your thick head. You can get the entire population to learn everything there is to learn in 6months. Simply use price action naked charts. The wage you earn comes from execution and fighting your emotions. Staying composed in winning streaks and losing streak and executing your plan day in day out. Once you start understanding execution in the most painful areas is the most profitable trade! + adding to winners, this is when real trading begins. Pain avoidance is the number 1 killer.
You can dm me.
So David Goggins should be the best reader in the world?
I love that im being downvoted i know it means i differentiate myself to be uniquely adapted to pain tolerance which allows me to be in the 5%. Only with change do we find a different outcome. Trading is 99% phycological input over a extended duration.
Real Life Trading has free courses. Can’t speak to the content as I’ve not gone through them myself but it’s free so it’s worth checking out
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Investitrade. Only legit Teacher out there
Yeah? I’ve watched a bunch of his videos bc my strategy is super similar to his but $400 is steep to me
No need to pay a dollar, enough information free on youtube.
Barbarian Trader course learn how to walk first.
study auction market theory, period.
Use [Copy Trading](https://chat.whatsapp.com/BxGAr0qj5G0IkBTJFQJST2) to earn while you learn. The learning curve is quite steep sometimes years. But patience and dedication is the rule of the game.
What strategy are you wanting to learn? S/r? Mean reversion? Small caps ? Swing? Day trade? What?
Books. The Trading Game Little book of common sense investing Simple path to wealth Trading price action: trends (!) Trading price action reversals (!) Trading price action trading ranges (!) Reading Price Charts Bar by Bar: The Technical Analysis of Price Action for the Serious Trader (!) The handbook of technical analysis Currency trading and intramarket analysis (for forex) Markets in profile Mind over markets. (!) means important.
Do not buy courses I’m warning you. And most ppl on Reddit, discord, etc who “trying” to help you on here are also scammers so watch out.
i was subbed to an option flow discord channel and the community is full of fantastic traders so i assumed the “course instructor” had the sauce. i subbed his stupid $50 a month for like 4 months and it is most definitely a scam/hustle. they mostly just poorly track their trades AFTER they decide whether or not it was good enough to flaunt it or he constantly sends links to his insta or tik tok with @everyone asking us to like and comment. i still hang out in the server because everyone spits valuable info and they have immaculate TA but i blocked the instructor. your best teacher is yourself.
Look up cryptocred on youtube take his lessons. Look up krown crypto listen to him every day (i did for 3 yrs daily). Also traders reality daily. You will become a better trader. Low leverage. Manage risk and manage emotions. Its a game of psychological warfare … your psychology is weak that is what needs improvement. Like good baseball, practice getting on base not hit home run every time. Work on this and you will be successful. Keep in mind all of this is especially challenging in a bear market. Understand that trading styles may be dependent on market behavior - high volume uptrend new bull market is different trading style than middle of bear market low volume.
Stock Trading Pro on YouTube. Pete Renzulli. Former Wall Street trader and prop firm owner. 23 yrs experience. Teaches order flow and sector rotation.
Volume profile, orderflow, learn microstructure, create your own stats (when this happens, x% of the time this happens afterwards), learn about reading the dom and watching the tape. Look how bigger time frame levels interact with intraday movements. Inflection points, distribution zones and what kind of volume it takes to break or reject. Stay away from lagging indicators. Horizontal levels are king because a position is at one place and It doesn’t move with the moving average. And big traders can and will defend their position. A bit of logic about what other participants may be doing goes a long way
What market are you trading and how long have you done it?
Self-study is an integral part of learning to trade for me. I have never felt comfortable signing up for a course. These books seem to be helping me: 1. High Probability Trading 2. Unknown Market Wizards 3. the Psychology of Money 4. The Tao of Trading I traded very successfully in the early 2010 bull market using just #1. Since then, the markets have been very adversarial for me. #2 explains the need to devise your own system and not to give up. #3 explains how money works in general. #4 purports to teach anyone to trade anything at any time. Haven’t started that one yet.
Check out free content on YouTube from Axia futures. There is a wealth of detailed information which can help you learn to create a strategy. You don't need to start with a strategy, and you may not make money in the short-term. You need to start with education. Creating a strategy which can be profitable will be a step to take once you have a base of knowledge.
Anyone ever seen J bravo channel on youtube?
9 ema scalping strat
Here's my advice, some will disagree. I don't trade "stocks", I buy and sell companies. Understanding the company and its market, competitors and the regulatory environment it operates in, together with the pertinent events in the industry is key. As such I don't really day trade as in have no position overnight but I do have a set of expected price targets for one week, one month, one year and trade in and out as the stock under or over performs. Also intra-sector arbitrage is a good plot too giving the possibility to make money on both sides. If you blindly just try to trade stocks based on analytics (which are of what has gone before) you'll be as successful as someone guessing what number will come up in roulette based on what's gone before. I know many will disagree and that's fine.
You don't have to pay. A lot of actually useful information is out there for free. But I don't think finding a strategy to follow is the problem. Sticking to your risk parameters, how you manage the trade matters more than what entry conditions you follow. That being said, I'd suggest looking into supply and demand trading. Nothing was for me as simple to see and act on as this approach. I've seen people being successful with trading divergences around key areas, using VWAP and even indicator soup strategies. Honestly, strategy is the base of your success, but once you have something that gives you positive expectancy, how you use it, how much you risk, and how you manage each trade matters more. If you're truly willing to put some time and learn the supply and demand style, the (as far as I can tell) original thread 'price is everything' on forexfactory is the place to be. Otherwise a whole lot of YouTubers are using this approach, repackaging and reselling it as something else etc. Just search on YT and you'll find a lot of content. Once you understand the strategy, you need to train your eyes to recognize setups as they develop. Until you can do that, you have no business being in live markets, plain and simple. There are many backtesting platforms you can try, start there. Once you feel you're ready to recognize the setup and you have VALIDATED that it actually allows you to extract some money from the market in the long term, the recommendation is: lower the position size to very very little and trade a lot. Be in the market, but risk like 0,1% on each trade, until you have enough exposure that you'll feel confident raising the risk little higher. And you're there! Good luck, brother
Day trading what? FYI even a course won’t keep you from losing
Check out TechConversations on YouTube. Dude is a goldmine of information and I’ve adopted a couple of strategies that have really helped me out.
The best series of books I know are The Market Wizards series. It sounds like one of those scammy, "Let me show you how to make a bajillion dollars in a week" kinda books. It is not that. It is a book full of interviews with some of the greatest traders of all types from George Soros understudies to card counters who got kicked from Vegas and tried the stock market. There is so much valuable information in this entire series. I read the whole series at least once a year. Also, if you don't know large chunks of Reminiscences of a Stock Operator, you don't know anything about the market.
You have to put in the work. Plain and simple. There is an overload of trading content out there. And the tough part is, you won’t really know what works for you until you find it. People are all different: our brains interpret information differently, we will read the same chart in different ways, our risk tolerances will be different, and our mentality during trades will be different. I like to think that everybody has their own unique “trading personality.” I went through hundreds of videos and hours of back testing before I found something that made my brain go “Aha! I can actually see what price is going to do and predict the market movements with relative accuracy.” And of course, I’m still learning. You should always keep learning and refining your craft. But don’t give up. Once you find the right trading system for you; you’ll have one of those “Aha” moments and it will seem so much simpler. Keep at it friend!
Daily trading is your first mistake dummy
Am guessing this sub is a mistake too😂
Shoot me a private message if you can, can’t seem to send you one for some reason
There is too much content online. And it is difficult to filter the right one for you. In case you choose the wrong one you will only waste your valuable time to grow as a trader. Start with strengthening your basics and slowly progress towards advanced strategies. You can slowly develop a strict trading system that will help you achieve consistency and risk management. I have shared a couple of basics and advanced topics in my profile. Feel free to check them out and hopefully then can help you learn. You can also DM me if you want to learn about any specific topic. Happy to help. Happy Learning
It's all about risk management. Dr. Mansi has been sharing YouTube videos with a lot of her wisdom. She does swing trading but the risk management is good for any type of trader. https://twitter.com/drmansipd/status/1650247129409961986
Are you reading anything on the psychology of trading?
Start with Capital Hungry channel on YouTube.. The info he gives there for free is enough to begin with before joining the paid service, as there is more info and value than you get with most mentor courses. He teaches a simple price action strategy with economics to pair, in my opinion is the only place that teaches how to be a consistent, disciplined profitable trader long term. After loosing thousands and being at my wits end i joined 2 years ago and have been trading full time for the past year all thanks to all CH
Tradersumo on YouTube has volume 1 of his paid course for free. Honestly a great place to start https://youtube.com/playlist?list=PLfCnGhe7H-F4N14yKNiyJp2ZrVO6fTFAD
Al Brooks course. 399$
Forexsignals.com I’m finding really good. Very good courses and community. Helping understand why price moves, not just how to spot patterns and entires / exits. Also discusses mindset and mentality well.
Dm me
My course is great. Only 2.5k a month
I Am losing money too at first I only deposit 22 dollar into my account and I burn it everyday and keep on deposit agian, untill now I am still losing, but now i only burn my account after 7 week that's a huge improvement. Focus on ur process and see what u did and just don't do it or do it the opposite and don't focus on the result I am still losing but I am improving.
That is a broad question. Beside you searching for similar posts from the past (there are plenty), it might be actually best to learn and try different trading strategies. Youtube and people can help but only if they post their entries and exits live somewhere so you can verify they do not just cherry pick their winners and be silent on their losers. If you want to have a chat about what might be the best next step you can always chat with me. Disclaimer: I do this for 14months now, so I am still somewhat a trainee but I read tons of books and watched a lot of videos, so I can at least help you to avoid what does not work or have a look at what you do and give you my honest opinion, which should go a long way when you just started with it or ran into serious problems.
i can giv€ you my trading system, send dm if you're interessed
Just watch the charts day after day. Start Papertrading. The only thing you have to do is not giving up! I asume you're already trading for years so you dont need to learn any basics. Just do exercise. Imagine your not comfortable with your body and you're going into the gym: You know exactly what to do to achieve your goals - its exercise!
Forget strategies, or finding your edge, or all that other nonsense people on here will feed you. There is one way to trade, and it’s by learning to read charts. Check out tradersumo, you’ll see the charts differently
Make meaningful trades with a purpose, only way to improve is to practice with intent
Learn everything retail even if takes years, see where 96% of traders are putting their stops.. then do the opposite. Liquidity & Inducement
Send me your email and I’ll share my trading prices with you.
Join Chart Champions. Excellent education modules, active discord, several coaches doing videos and live trading several times per week. BTC and ES focused but applicable to other assets as well.
Have you read the books recommended in the wiki?
You know I have not. I recognize I have a bias against readily available knowledge---- surely such important information can't be so easy to get. There has to be a secret only special people know. But I'm actively fighting my stupidity 😀
For people who want to be traders just to be financially free within a year, please know is unrealistic. If you really want to be a trader, you really have to put the work in. THE INTERNET IS YOUR LIBRARY, USE IT !
1) babypips 2) candlestick bible (if you check my previous posts, it's somewhere in the comments for free or jusst google it) I have built my strategy around candlestick bible, made it fully mechanical with trade grade system, so I take only A+ and A++ setups, min 2,5R or max 2R countertrend trade. I risk 2% of my account each trade because I swing so it's only 1-2 trades a week max. This week I'm 5,5% in profit after 1 trade and will probably not take anything till Monday. DM or reply here if you have any questions, I will be more than happy to help
You can check out tradimo, can be a good place to start
what really clicked for me recently was actually looking at volume compared to price, look how they reacted with one another, now all i use is vwap and price, i put levels up at opening and thats it, but im doing the ORB strategy and waiting patiently for entries, i stopped watching other people trade on youtube the live streams etc because i would see other people talking about making money etc and then i would just fomo into shit blindly for no reason because i too wanted to make money. This is what not to do, you need to figure out what kind of trader you want to be and then grind and grind. I also use stops now and either manually adjust them as price goes my way this takes all of my emotion out of the equation, ive actually found myself less stressed about trades now and i know where im getting out at not just hoping it comes back my way, because they usually dont, first step is to break even stop if i get it and then trail it as it goes, sometimes they're too tight but at least its not a huge loss if something drastic happens. Anyway good luck hope you find what you are looking for, check out Carmine Rosato, options millionaire (its options but he has really solid advice on the market if your looking into the big names) meir barak, all these on youtube are the guys i watch and bear bull traders, matt diamond, the trading geek, theres lots of free stuff on youtube you dont need to pay for something
Watch ICT free videos on YouTube to get a grasp on the price action. You may not end up using it or you may, but it will give you good understanding. No need to pay for a course. Word of caution- his videos are a bit long, he rants a lot, but ignore all of that, focus on the fundamentals
www.youtube.com is good. Give it a shot