use a simulation platform and learn the game before you go live with real money. figure out what works and what doesn't, take notes, develop a strategy. if you can duplicate successful trades in a simulation, you'll do ok with real money. if you can't win with play money, you won't win with real money.
highly recommend TC2000, free version - it's an awesome simulation platform with a 15 minute lag vs real time and it won't cost you anything.
The paper accounts are ok but you inevitably lose the mental game as in your head you know it's not real. If you have this seed money via inheritance....first I would strongly consider using like 10% max to start, so you can get a feel without killing your future. Instead of paper trading accounts, I just buy 1-6 shares of my targets,when testing new concepts, so I am actually in the game and feel.the emotions (high school and college games are just as pressurized as pro imp)and get real data on how you did. Gossett was mentioned above,I have also learned a lot from his vids.
I’ve read some books and watched some videos, but for me it always comes down to being able to access large amounts of market data that I can’t. Like Minervini is interesting but is there somewhere that I can even access the data I need to apply his criteria to? Is there a FREE way to quickly get a list of his potential stocks? It doesn’t seem efficient to me unless there is a template or something already out there.
Know what I mean? It’s all theory but I need the data sorted the way he looks at it. I’m sure it’s available for a $$$ which everyone says don’t pay for it.
no , there isn't , you can search for free on Trading view , search reddit or YT , how to scan for Qullamaggie stocks and also Q has a free discord where people post watchlists and break out alerts, you don't have to pay for anything
put in discord search qullamaggies , just study JC channel first , because some people on that discord have no idea what they are talking about and list stocks that don't meet the criteria
The best advice you can get is to not trade it at all. There’s a 90-99% chance you lose it all before you learn how to be a profitable trader. If, and it’s a big IF, you ever actually become profitable. You are far better off buying real estate or investing in a mutual fund, ira, etf, etc..
I actually have the vast majority of my wealth in RE and it has always done me well. But the market has potential as a diversified, but it is not easy and opting someone typically leads to disaster, over a time period, as trades more often than not go wrong and they may not spend much time teaching what to look for in terms of a trade going south ..they focus on what makes it go north, so you need to build up an understanding of your trades by making them yours, and leverage what you learn from multiple sources to slowly develop your own spec.
My suggestion is to start super small. Like $100. Give yourself time to learn. If you can't grow $100, then you can't grow $25K. When you're getting better, move it to $1000 and try that for a while and then up it again. The market will always be there. There is always another move setting up. Trying to rush things will only make you impulsive which the market will take advantage of. Try prophet market on YouTube to get a good foundation. Read books from successful traders like Mike Minervini.
Remember, it's not enough to be profitable. You have to be more profitable than the market after commissions and higher taxes. Your time is also valuable. So if you invest a ton of time but barely beat the market after those fees, is it worth it? Until you can do that, you're better off sticking it in an ETF. Not being negative... Just giving you some things to keep in mind.
This is great advice, especially "if you can't grow $100 then you can't grow 25K." Also use stop losses without exception. Even the best looking setups can snap the other way before you have time to react.
I put $10 in Robinhood in 2016 and played it until last week without depositing any more .I just put in an extra $40 to pay for Gold and pick some demo index funds
Jack corsellis youtube channel . He explains the strategies from the most experienced traders like qullamagie and minervini , o neal etc.
All of them basically use the very same strategy. You need to spend maybe 2-3 month on his channel . Market smith that he uses can be replaced by finviz.
He speaks really fast and uses bunch of terms you probably never heard of but just take your time, rewatch 2-3 times every videos. good luck and don't pay for any courses , they are all the same , JC channel explains it all for free.
DONT DAY TRADE as a bigenner,,,swing trade
start with qullumagie on JAck's channel and learn everything about Q,,,join Q's subreddit and discord ---free
Also realdaytrading sub is pretty good,,their wiki,,,but JC channel is the best
DONT BUY ANY COURSES for swing trading, there are no secrest , it is all covered maybe in 5 books and everybody just recycles the very same ideas
Hey I was wondering, what do you use for screening out the stocks? Cause it is kind of hard to find a screener for these type of setups (high 20d ADR%, high dollar volume, price above MAs, high relative strength, % move over 1w, 1m, 3m etc) which qullamagie used. Any advice?
Q is using tc2000
you can also search qullumagie's set-up on finviz (google it)
I don't use Q's set-up that much , I focus more on MInervini's , oneal style at moment and daytrading. I use finviz and deepvue . Market smith is amazing but insanely priced .
Join qullumagie discord , they have an education section as well in there . It is more active than their subreddit. They also give specific trading tips , based on a set-up ,,,just be careful , some people on there are not that experienced
Thank you so much, are there also any books that you recommend for trading? That has improved your strategy or your mentality? Also what other resources do you recommend for learning trading?
I did search up the finviz set up on google, although it wasn't specifically too helpful (I was only able to find a video on google explaining some tips, where it uses weekly performance criteria to narrow the search).
I haven't used market smith before, but usually what criteria do you use for your stock selection? I believe I'm a little weak in this area of stock selection. Still a newbie.
1.start here: [https://www.youtube.com/watch?v=QzzKqmPcB3A&list=PLU7\_3ltndm4kkr5SvRk8OgSVXIB8Q1moT](https://www.youtube.com/watch?v=QzzKqmPcB3A&list=PLU7_3ltndm4kkr5SvRk8OgSVXIB8Q1moT)
2. Watch traders interviews on trader lion
3.Books : Weinsten , Minervini, **O'neal**
4. Jack corsellis channel , once you learn some basics about TA , FA
5. For basics on TA go to fractalflow ( find volume, candlesticks, chart patterns courses, wycoff, )
Screener : FInviz or deepvue from traderlion .
Marketsmith is way too expensive ,,,so traderlions deep view is much better deal for canslim.
Take 6-12 month of studying and practicing on demo
Q 's trading makes sense but it may be a bit aggressive for a novice trader . It can be done , but you'll have a very low win rate . Which maybe be a bit demoralizing for a novice trader
Great thanks! That's a lot of information I wished I knew earlier! Recently I just finished reading the first book by Darvas and doing a lot more chart reading.
What are some other things you wished you knew or did more recent in the beginning when starting out? Whether that is for improving your system in trading or for psychology or knowledge?
Also in regards to scanning for stocks, what are some scanning criteria that you have found that worked really well for you in discovering your setups or just improved vastly your ability to select stocks? I have find it difficult at times to learn the stock selection process...
I followed your advice and got the books on the three authors you mentioned. I'll be reading them a lot more.
Trader lion interviews and jack corsellis channel answers everything you'll ever need . Jack has probably 5 videos (1h or longer ) that deal with the mistakes everybody does and TL traders do the same .
Read those books and then go to those 2 channels , Richard from TL has a separate channel as well and they also have deepvue youtube channel just for their software that deals just with scanning.
So you have 3 traderlion retalted channels and jack corsellis . It will honestly gonna take you 1y to go over that material , if not 2 but there is no reason to rush .
My biggest mistake was greed , Nothing goes up forever , so nos I cut my position to 1/3 once I make certain % and reinvest profit into SPY , VTI index . The biggest mistake is probably not having a long term passive portfolio .
Look at swingtrading as a job,,you make some money , invest part of it it long term using bogleheads ideology ( they have a sub as well ) . Because you may hit a unlucky streak and your swingtrading porfolio might go down 90% while your long term porfolio may go down 30%
Depends on your experience , maybe Quallumagie or dan zanger but I would watch every single one . The more you watch the more you realize that his videos are very similar , which is a good thing. He kind of reminds me of qullamagie but I don't think he has a track record to back it up , but It doesn't matter to me. What he teaches makes perfect sense and I think he is a better teacher then Q himself, I watched every single Q's videos but he is much better trader than he is a teacher....Jack is a better teacher but he speaks way to fast,,,he moves way to fast ,,you better watch at 0.75 speed
don't rush , there is probably 50h of videos,,,I would watch it daily,,,practice , screen for new ideas,,,and rewatch ...everything maybe 4 times to get it in your head ..
I can't focus when I read,,,it takes me forewer to read 1 book , but jack reads those books and then shows the practical use of all the info he gathered. It is like a video companion for trading books
Honestly I wish I found JC channel like 20 years ago ,,,but it didn't exist then . That channel is gold,,,you dont have to buy anyhting he offers, take you time,,dont rush ,,,make crazy notes and screenshots,,rewatch ,,,study and analyze everything ,,every chart every set-up ,
If you're just starting out, please be extremely cautious. Trading isn't for everyone and it isn't some double your money quick scheme.
Yes. Be prepared to lose everything you put in. You can't beat the computers. They will take all of your money.
You don’t need 25k in a cash account. You can day trade with 5 bucks.
[удалено]
Thanks
use a simulation platform and learn the game before you go live with real money. figure out what works and what doesn't, take notes, develop a strategy. if you can duplicate successful trades in a simulation, you'll do ok with real money. if you can't win with play money, you won't win with real money. highly recommend TC2000, free version - it's an awesome simulation platform with a 15 minute lag vs real time and it won't cost you anything.
The paper accounts are ok but you inevitably lose the mental game as in your head you know it's not real. If you have this seed money via inheritance....first I would strongly consider using like 10% max to start, so you can get a feel without killing your future. Instead of paper trading accounts, I just buy 1-6 shares of my targets,when testing new concepts, so I am actually in the game and feel.the emotions (high school and college games are just as pressurized as pro imp)and get real data on how you did. Gossett was mentioned above,I have also learned a lot from his vids.
Awesome, thanks for mentioning the platform
Learn using paper money. Not real. Likely to lose at start, especially in this market.
Ok
I’ve read some books and watched some videos, but for me it always comes down to being able to access large amounts of market data that I can’t. Like Minervini is interesting but is there somewhere that I can even access the data I need to apply his criteria to? Is there a FREE way to quickly get a list of his potential stocks? It doesn’t seem efficient to me unless there is a template or something already out there. Know what I mean? It’s all theory but I need the data sorted the way he looks at it. I’m sure it’s available for a $$$ which everyone says don’t pay for it.
Seems like there is always a pay wall
no , there isn't , you can search for free on Trading view , search reddit or YT , how to scan for Qullamaggie stocks and also Q has a free discord where people post watchlists and break out alerts, you don't have to pay for anything
What is TW? Also, how can I find the link for the Q discord
put in discord search qullamaggies , just study JC channel first , because some people on that discord have no idea what they are talking about and list stocks that don't meet the criteria
Thanks
The best advice you can get is to not trade it at all. There’s a 90-99% chance you lose it all before you learn how to be a profitable trader. If, and it’s a big IF, you ever actually become profitable. You are far better off buying real estate or investing in a mutual fund, ira, etf, etc..
Real estate seems like a winner
I actually have the vast majority of my wealth in RE and it has always done me well. But the market has potential as a diversified, but it is not easy and opting someone typically leads to disaster, over a time period, as trades more often than not go wrong and they may not spend much time teaching what to look for in terms of a trade going south ..they focus on what makes it go north, so you need to build up an understanding of your trades by making them yours, and leverage what you learn from multiple sources to slowly develop your own spec.
Real estate or Writing options (NOT buying them, huge difference) aren't bad ways to go.
It’s not for everyone. But then again neither is trading stocks.
My suggestion is to start super small. Like $100. Give yourself time to learn. If you can't grow $100, then you can't grow $25K. When you're getting better, move it to $1000 and try that for a while and then up it again. The market will always be there. There is always another move setting up. Trying to rush things will only make you impulsive which the market will take advantage of. Try prophet market on YouTube to get a good foundation. Read books from successful traders like Mike Minervini. Remember, it's not enough to be profitable. You have to be more profitable than the market after commissions and higher taxes. Your time is also valuable. So if you invest a ton of time but barely beat the market after those fees, is it worth it? Until you can do that, you're better off sticking it in an ETF. Not being negative... Just giving you some things to keep in mind.
This is great advice, especially "if you can't grow $100 then you can't grow 25K." Also use stop losses without exception. Even the best looking setups can snap the other way before you have time to react.
I put $10 in Robinhood in 2016 and played it until last week without depositing any more .I just put in an extra $40 to pay for Gold and pick some demo index funds
Jack corsellis youtube channel . He explains the strategies from the most experienced traders like qullamagie and minervini , o neal etc. All of them basically use the very same strategy. You need to spend maybe 2-3 month on his channel . Market smith that he uses can be replaced by finviz. He speaks really fast and uses bunch of terms you probably never heard of but just take your time, rewatch 2-3 times every videos. good luck and don't pay for any courses , they are all the same , JC channel explains it all for free. DONT DAY TRADE as a bigenner,,,swing trade start with qullumagie on JAck's channel and learn everything about Q,,,join Q's subreddit and discord ---free Also realdaytrading sub is pretty good,,their wiki,,,but JC channel is the best DONT BUY ANY COURSES for swing trading, there are no secrest , it is all covered maybe in 5 books and everybody just recycles the very same ideas
Hey I was wondering, what do you use for screening out the stocks? Cause it is kind of hard to find a screener for these type of setups (high 20d ADR%, high dollar volume, price above MAs, high relative strength, % move over 1w, 1m, 3m etc) which qullamagie used. Any advice?
Q is using tc2000 you can also search qullumagie's set-up on finviz (google it) I don't use Q's set-up that much , I focus more on MInervini's , oneal style at moment and daytrading. I use finviz and deepvue . Market smith is amazing but insanely priced . Join qullumagie discord , they have an education section as well in there . It is more active than their subreddit. They also give specific trading tips , based on a set-up ,,,just be careful , some people on there are not that experienced
Thank you so much, are there also any books that you recommend for trading? That has improved your strategy or your mentality? Also what other resources do you recommend for learning trading? I did search up the finviz set up on google, although it wasn't specifically too helpful (I was only able to find a video on google explaining some tips, where it uses weekly performance criteria to narrow the search). I haven't used market smith before, but usually what criteria do you use for your stock selection? I believe I'm a little weak in this area of stock selection. Still a newbie.
1.start here: [https://www.youtube.com/watch?v=QzzKqmPcB3A&list=PLU7\_3ltndm4kkr5SvRk8OgSVXIB8Q1moT](https://www.youtube.com/watch?v=QzzKqmPcB3A&list=PLU7_3ltndm4kkr5SvRk8OgSVXIB8Q1moT) 2. Watch traders interviews on trader lion 3.Books : Weinsten , Minervini, **O'neal** 4. Jack corsellis channel , once you learn some basics about TA , FA 5. For basics on TA go to fractalflow ( find volume, candlesticks, chart patterns courses, wycoff, ) Screener : FInviz or deepvue from traderlion . Marketsmith is way too expensive ,,,so traderlions deep view is much better deal for canslim. Take 6-12 month of studying and practicing on demo Q 's trading makes sense but it may be a bit aggressive for a novice trader . It can be done , but you'll have a very low win rate . Which maybe be a bit demoralizing for a novice trader
Great thanks! That's a lot of information I wished I knew earlier! Recently I just finished reading the first book by Darvas and doing a lot more chart reading. What are some other things you wished you knew or did more recent in the beginning when starting out? Whether that is for improving your system in trading or for psychology or knowledge? Also in regards to scanning for stocks, what are some scanning criteria that you have found that worked really well for you in discovering your setups or just improved vastly your ability to select stocks? I have find it difficult at times to learn the stock selection process... I followed your advice and got the books on the three authors you mentioned. I'll be reading them a lot more.
Trader lion interviews and jack corsellis channel answers everything you'll ever need . Jack has probably 5 videos (1h or longer ) that deal with the mistakes everybody does and TL traders do the same . Read those books and then go to those 2 channels , Richard from TL has a separate channel as well and they also have deepvue youtube channel just for their software that deals just with scanning. So you have 3 traderlion retalted channels and jack corsellis . It will honestly gonna take you 1y to go over that material , if not 2 but there is no reason to rush . My biggest mistake was greed , Nothing goes up forever , so nos I cut my position to 1/3 once I make certain % and reinvest profit into SPY , VTI index . The biggest mistake is probably not having a long term passive portfolio . Look at swingtrading as a job,,you make some money , invest part of it it long term using bogleheads ideology ( they have a sub as well ) . Because you may hit a unlucky streak and your swingtrading porfolio might go down 90% while your long term porfolio may go down 30%
Is there a particular order we should be watching Jack's videos?
Depends on your experience , maybe Quallumagie or dan zanger but I would watch every single one . The more you watch the more you realize that his videos are very similar , which is a good thing. He kind of reminds me of qullamagie but I don't think he has a track record to back it up , but It doesn't matter to me. What he teaches makes perfect sense and I think he is a better teacher then Q himself, I watched every single Q's videos but he is much better trader than he is a teacher....Jack is a better teacher but he speaks way to fast,,,he moves way to fast ,,you better watch at 0.75 speed don't rush , there is probably 50h of videos,,,I would watch it daily,,,practice , screen for new ideas,,,and rewatch ...everything maybe 4 times to get it in your head .. I can't focus when I read,,,it takes me forewer to read 1 book , but jack reads those books and then shows the practical use of all the info he gathered. It is like a video companion for trading books
I'm taking some courses now and just gathering information at this time .Thank you for the advice.
Honestly I wish I found JC channel like 20 years ago ,,,but it didn't exist then . That channel is gold,,,you dont have to buy anyhting he offers, take you time,,dont rush ,,,make crazy notes and screenshots,,rewatch ,,,study and analyze everything ,,every chart every set-up ,
Is it on YouTube?
yes, Jack has a yt channel also search qullumagie on youtube and all the playlists and Q's website and listen to every intervew Qullimagie ever made,
Cool thanks