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Day Trading for Beginners

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10 contributions to Day Trading for Beginners
Quick Tutorial on TradingView (Basic Functions)
I just uploaded a short video on using some of the basic functions of TradingView. You can access the video here. If you're just getting started with TradingView, you might find it useful. As with many tools, things always look a bit confusing until you get your hands dirty and test them out. This is what makes TradingView's free account very convenient. In the future I plan to make more tutorials and perhaps update these once I get even more familiar with the software. These "basic functions" should allow you to get a lot out of the software. The next video I plan to highlight the Replay function which you might find useful once you start testing out a strategy.
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New comment 7d ago
2 likes • 7d
Here is a free indicator on Trading View for RS or RW that was created by a member of RDT reddit and is in the wiki now I believe: https://www.tradingview.com/script/8J4qsKuC-Relative-Strength-Volatility-Adjusted/
Ready to Take Action - Simple Strategy to Start + Scanners and Screeners
I'm slowly getting through the WIKI and have come across the section which discusses a simple strategy to start with, and the use of scanners and screeners. So I thought it would be good to actually try and set this up and do some paper trades. I have created a few new modules in the Trading Strategy Course which breakdown these sections into actionable steps. I used ChatGPT to help me create a step by step plan for using Interactive Brokers and TradingView. Check out the new modules in the Trading Strategy Course here. - There is a section that explains scanners and screeners (along with tool recommendations). - There is a section that outlines how to use these tools for Interactive Brokers and TradingView. - There is a section on using a simple strategy to start paper trading (provided from the WIKI) I plan on going through these modules myself and paper trading with these tools and this strategy over the coming weeks / months.
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New comment 8d ago
3 likes • 8d
There is also a free scanner for RS/RW that is talked about in the wiki. https://www.zenscans.com/
Beginning Paper Trading
I wanted to see if anyone else in this group is around the same point in their journey as I am; mostly so we can ask questions to each other and discuss. For example, I just started paper trading and am keeping it extremely basic and will slowly add more technique to my paper trading as I go. And today I was able to find a stock that had relative strength to SPY so I went long on it but I got in a bit too early and then it wasn't very clear to me when to exit either. I did take my fake profit but just trying to learn from every trade to improve. Just curious if anyone else is beginning paper trading and trying the relative strength method from RealDayTrading.
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New comment Jul 12
0 likes • Jul 11
Kieran, right now i am only identifying RS/RW stocks using finviz site. I find stocks that have RS/RW as compared to other stocks in its same sector. Then i put on my watchlist and compare to SPY. I watch the 5M candlesticks as compared to SPY and note if the stocks stay RS/RW as SPY goes up and down. I do want to start using a scanner/screener to find these stocks in more detail. I hear the TC2000 has a good one for RS/RW and so does OneOption. But i don't want to pay for a scanner yet. So i am doing it manually for now until i decide if i want to invest money in a scanner yet. Or maybe i can try to configure one in TWS; haven't gotten that far yet.
0 likes • Jul 12
@Kieran Winestein Thanks! I was working through the wiki again today and found a great post on how to set up and sort for the best stocks. I think i will try to set mine up using this criteria: https://www.reddit.com/r/RealDayTrading/comments/ua7rm4/these_trade_criteria_work_really_really_well/
Podcast
I am looking for recommendations of good trust worthy day trading podcast to listen to. I currently listen to Tyler’s podcast every week, I practice in my paper account, and I read the Real Day Trading Reddit page and watch some of their YouTube’s. I just need another podcast to listen to while I’m walking and doing other activities that I can’t sit down at my computer for. But I worry about listening to the wrong ones that don’t follow the Real Day Trading methods or are about momentum trading or scalping.
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New comment Jun 21
Broadening Formation
I am in Chapter 6 of “Technical Analysis of Financial Markets” and am wondering why the broadening formation or the inverted triangle is in this section? It seems like it is a reversal pattern and not a continuation one?
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New comment Jun 6
1 like • Jun 3
@Tyler Stokes I have been going in order and am currently in chapter 7 which is perfect for this weeks episode! I do like this book a lot, and it really is helping things to all make sense and come together for me
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Heather Nicole
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1point to level up
@heather-hoff-5636
Day trader in training! Married with two kids and have a full time job but still making time to learn this new skill!

Active 7d ago
Joined May 15, 2024
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