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Day Trading for Beginners

Public • 665 • Free

10 contributions to Day Trading for Beginners
Advice
gm everyone , quick question , how do people on here execute there trades, Do you use trading on its own or do you use trading view to find set ups and execute on another platform, I m starting to transition from demo to live and just need some advice thank you I advance.
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New comment 11h ago
0 likes • 11h
@Darren Pearce - I am still paper trading at this point. I am learning hwo to use Think or Swim, but am not proficient at it yet. Fo rnow, I am using TradingView for both research/charting/TA AND for paper trades.
Trading Partner(s) Wanted: Let's Grow and Learn Together
Hey fellow traders, I'm reaching out to find an accountability partner to navigate this journey together. I've been trading for several years, and while I've had my moments of success, I now realize my strategy was quite blind and ill-prepared. Currently, I have the luxury to focus full-time on trading, but it's a challenge to pace myself instead of diving in headfirst, which I know will lead to losses. I have enjoyed listening to Tyler's podcast while I am at the gym and admire the fact that he is able to practice without real money. However, that's not something I can consistently do. For about a month, I've been trading every morning but try to stop early to focus on studying and refining my approach. My goal is to develop a mixed strategy: starting with momentum day trading and, when the volume slows for the day, shifting to swing trading with a focus on options (which I am currently clueless about but see their potential). One of my biggest struggles is turning big green days into bigger red days due to carelessness. I've also fallen into the habit of averaging down when trades go against me, which adds stress even when it works out. For example, this week I had daily goals of $100, which going into today I achieved 3 out of 4 days. But on Wednesday, I lost $2,700 by being beyond reckless. That day I was up $600, thrilled, but took a quick loss that cut it in half. I chased it, ended up down $1,000, and chased a different stock until I was down $2,700 for the day. Going into today, I needed $1,942 to break even for the week—a huge longshot—but I found a situation I believed in, went all-in, and was up over $2k! I really should have stopped, but ended the day only up $402 due to a series of poor decisions on a stock that resulted in a $1,871 loss. Now, I'm down $1,540 for the week, which is frustrating, but could be worse. Next week, my goal is $200/day from day trading, but I'm aware that my losses may overshadow my gains if I'm not much more careful. (Sorry for rant but wanted to decompress in hopes the shame will help me to learn from my clear mistakes.)
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New comment 11h ago
1 like • 3d
@Jared Wilson o really don’t have enough time to day trade full time, so swing trading is speaking to me more. But I am still pretty new. Seems like there ought be lore fundamental analysis for swing readings simply because you are holding the position longer. Is that right?
1 like • 2d
@Jared Wilson so sorry about your frustration. I totally identify with chasing losses as well. I get caught up in the moment …start chasing the gainers. But I seem to catch them just as they turn negative. I have a lot to learn.
Citizenship vs location
Hey there. I’m still working on signing up for my paper account and having a hard time finding the answer to a question. I am an American citizen living in Turkey. We have about nine months left here, will go to the US for 8 to 12 months, And then we are headed to Moscow . When I’m signing up, what do I put for country? I read through quite a bit of the FAQ and tried to pull up the link for countries where accounts were allowed, but couldn’t find a very straightforward answer. I worry that using a VPN could cause confusion with the site and cause problems with my account. Thoughts?
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New comment 3d ago
1 like • 3d
Heather, Sounds complicated to navigate. I personally have no idea. For complex problems like this I start by asking ChatGPT. I wouldn’t mind asking for you, but I don’t know your comfort level inputting info to AI. As I am sure you know it can also be wrong, so I would ask about its sources and follow up with them to make sure.
Hello!
Hi everyone, my name is Harry, and I'm based in the UK. I work as a design engineer apprentice, but my passion for long-term investments, particularly in index funds, has always been an interest of mine. Recently, I've been eager to expand my knowledge into day trading and swing trading as a way to diversify and supplement my income as I look ahead to the future. I've been meaning to start this journey for over a year now, and I'm excited to finally take the leap. I truly appreciate communities like this, and I'm looking forward to learning and growing alongside all of you 😄
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New comment 4d ago
0 likes • 5d
Welcome, Harry @H C !
What Do Institutional Traders Think About TA?
I have watched this video a couple of times now. Facinating set of interviews with large hedge fund managers talking about how they think about retail traders and using TA to determine trades. Some points from the video: 1. Always back test strategies to make sure they work in long term 2. Have a specific set of rules you always follow 3. Have an open mind when talking with other successful traders even if their method doesn’t match yours 4. Huge Institutions buy so large, they can’t just jump in the market. They need to create liquidity by making prices hit large areas of stop-losses and buying in at that point. a. Be aware - a couple of these interviews indicated that Stop Hunting is a thing: (Investopedia: Stop-hunting is a strategy to force others in the market out of their positions by triggering stop-loss orders. This is done by driving the price of a security up or down to where a significant number of traders are expected to have set their stop-loss orders. The triggering of so many stop losses at once typically creates a lot of volatility, presenting an opportunity for investors who want to trade in this environment. ) 5. The stop loss needs to be where it needs to be. Don’t artificially manufacture it to limit your risk. If you need to do that, then you were not entering at the right point. 6. Hedge funds use many factors on what to buy, and huge hedge funds do not use support and resistance for lack of liquidity. But smaller hedge funds will use it to make decisions on when to enter. 7. Only enter a trade If you are confident in it. There is no reason for a tight stop loss. This video and some of these points are clearly for mid to long term retail investors using a lot of Fundamental Analysis, and not all of them apply to day traders. https://youtu.be/f19bfHpCths?list=PLbQQDrS6E-GZcZG9qCERdKC7fE2xYU692
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New comment 5d ago
What Do Institutional Traders Think About TA?
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James Green
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5points to level up
@james-green-9661
Always learning

Active 9h ago
Joined Sep 18, 2024
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