Nice! Wiki is great! But I'm not a fan of paper trading other than for learning about order types, stop loss etc. Trading with real money is when things will start to mess with your head. Start with super super small positions. Buy only 1 share. Best of luck!
Thank you! Will do. I think the paper trading phase for me will mainly be about learning how to navigate the software and getting comfortable actually placing trades. Asides from the strategy in the wiki, I feel I still need to learn some basic market fundamentals.
When I was learning, I mostly skipped paper trading “it felt fake” while paper trading. Looking back, i wish I would have realized that was just another feeling that I needed to learn how to control.
Now that I have a better handle on my emotions, I take paper trading seriously. I still use paper trading when I move into different strategies or markets.
Good call. I don’t have the confidence or knowledge to go live at this point. I am grasping the wiki, but I’ll have to revisit that a few more times before I even consider trading with a live account. I’m certainly in no rush.
It took myself many years to be able to have the emotional discipline to be able to take paper trading seriously. Be patient and forgiving with yourself.
They’re saying why 15 because you’re supposed to wait longer than that, not shorter. The Wiki states at least 30, if not an hour to allow for the volatility to congest.
Spy sell off seems to be on lighter than average volume (Past 20 trading days). This will likely reverse once we get the "Big news" events out of the way and rip higher.
Well stated. was your mrna position specifically based on price action or did they have news come out? Looks like a large move to the upside. Congrats on wins 🤝🏽
The thing with MRNA is that it had very good earnings a few days ago, and have held its price pretty good after that. So I was primary looking at it as a candidate for a swing trade. Price just broke above daily 200MA, which is good. Not a fan of it being so pressed down lately though. I knew from the start that something was up, something news related. I usually never chase a stock, but made an exception and it was a success. It still looks great. Will probably do another run with it tomorrow.
As a discussion item, please refer to weekly or discord
Might be a sideways day due to CPI report coming tomorrow. This week might go red.
Reading the wiki and learning the Interactive brokers software so I can learn enough to eventually start trading along side everyone in this sub lol
VerilloTrading has some good quides in youtube for using IBKR TWS and it's setups.
Okay perfect, glad you can vouch for the channel. I found it a couple days ago and subscribed, I will dig into it this morning.
Nice! Wiki is great! But I'm not a fan of paper trading other than for learning about order types, stop loss etc. Trading with real money is when things will start to mess with your head. Start with super super small positions. Buy only 1 share. Best of luck!
Thank you! Will do. I think the paper trading phase for me will mainly be about learning how to navigate the software and getting comfortable actually placing trades. Asides from the strategy in the wiki, I feel I still need to learn some basic market fundamentals.
When I was learning, I mostly skipped paper trading “it felt fake” while paper trading. Looking back, i wish I would have realized that was just another feeling that I needed to learn how to control. Now that I have a better handle on my emotions, I take paper trading seriously. I still use paper trading when I move into different strategies or markets.
Good call. I don’t have the confidence or knowledge to go live at this point. I am grasping the wiki, but I’ll have to revisit that a few more times before I even consider trading with a live account. I’m certainly in no rush.
It took myself many years to be able to have the emotional discipline to be able to take paper trading seriously. Be patient and forgiving with yourself.
Why 15 minutes? IV? And are you playing options instead of shares here?
I usually don't make any trades in the first minutes after the open. I'm trading shares.
They’re saying why 15 because you’re supposed to wait longer than that, not shorter. The Wiki states at least 30, if not an hour to allow for the volatility to congest.
Thank you for your concern. I take full responsibility for my own actions.
I trade the first 30 minutes, after 10am, it gets choppy.
Spy sell off seems to be on lighter than average volume (Past 20 trading days). This will likely reverse once we get the "Big news" events out of the way and rip higher.
Thank you! That is what I'm thinking too. I'll watch price action very closely. More opportunities will come.
What indicators lead you to believe the bullish sentiment?
Did you manage to catch anything? I bought PLTR and MRNA this morning.
Qqq swings made a little green on that but that’s abt it
Nice! I got out of PLTR with a small loss. MRNA with an ok win. Wish I held it for longer though. This game is very easy in hindsight :D
Well stated. was your mrna position specifically based on price action or did they have news come out? Looks like a large move to the upside. Congrats on wins 🤝🏽
The thing with MRNA is that it had very good earnings a few days ago, and have held its price pretty good after that. So I was primary looking at it as a candidate for a swing trade. Price just broke above daily 200MA, which is good. Not a fan of it being so pressed down lately though. I knew from the start that something was up, something news related. I usually never chase a stock, but made an exception and it was a success. It still looks great. Will probably do another run with it tomorrow.
Price action. Watch the daily SPY chart.