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New here, but not new to trading.


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New here, but not new to trading.

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  #1 (permalink)
N00bdayraider
Jersey City, NJ
 
 
Posts: 8 since Jul 2015
Thanks: 2 given, 6 received

I've been trading for a couple of unprofitable years, figured I'd make an account here because the worst that'll happen is I'll lose more money!

I'd still consider myself a beginner because I'm unprofitable.

I don't use indicators, not even volume, and I prefer to day trade the morning session. My current instruments are buying calls/puts for SPY, QQQ, AAPL, IWM, and FB to name a few.

Hope I figure this trading thing out one day.

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  #3 (permalink)
sledmt
Kalispell montana
 
 
Posts: 158 since Jan 2015
Thanks: 157 given, 23 received



N00bdayraider View Post
I don't use indicators, not even volume, and I prefer to day trade the morning session. My current instruments are buying calls/puts for SPY, QQQ, AAPL, IWM, and FB to name a few.

Curious, what is your trading strategy?

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  #4 (permalink)
N00bdayraider
Jersey City, NJ
 
 
Posts: 8 since Jul 2015
Thanks: 2 given, 6 received


sledmt View Post
Curious, what is your trading strategy?

I'd say I don't have a strategy since I'm unprofitable, but it basically involves lines such as the Previous Day High, Previous Day Low, and Hourly/Daily/Weekly trend channels.

I plan on putting up a trading journal on here to hopefully get valuable critique about the strategy.

And my journal will be all paper trading.

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  #5 (permalink)
sledmt
Kalispell montana
 
 
Posts: 158 since Jan 2015
Thanks: 157 given, 23 received


N00bdayraider View Post
I'd say I don't have a strategy since I'm unprofitable, but it basically involves lines such as the Previous Day High, Previous Day Low, and Hourly/Daily/Weekly trend channels.

I plan on putting up a trading journal on here to hopefully get valuable critique about the strategy.

And my journal will be all paper trading.

Well, I guess we all start somewhere.

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  #6 (permalink)
N00bdayraider
Jersey City, NJ
 
 
Posts: 8 since Jul 2015
Thanks: 2 given, 6 received


sledmt View Post
Well, I guess we all start somewhere.

Yep.

I respond well to constructive criticism, and I'm hoping my trading journal (whenever I get around to doing that) gives me the feedback to turn me into a consistently profitable (albeit on paper...which I think I have the means to translate to real money) trader.

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  #7 (permalink)
 SurtiTrader 
Surat+Gujarat/India
 
 
Posts: 25 since Jul 2014

Welcome to this forum. I am also trading since 2 years and now have learned a lot through constant practice. Hope you will share your knowledge and experience with us.

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  #8 (permalink)
N00bdayraider
Jersey City, NJ
 
 
Posts: 8 since Jul 2015
Thanks: 2 given, 6 received


SurtiTrader View Post
Welcome to this forum. I am also trading since 2 years and now have learned a lot through constant practice. Hope you will share your knowledge and experience with us.

Thanks, though I hope nobody comes to me for knowledge/experience. I'm now taking a humbling approach to trading and hoping it turns me into a master.

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  #9 (permalink)
N00bdayraider
Jersey City, NJ
 
 
Posts: 8 since Jul 2015
Thanks: 2 given, 6 received

Actually, now that I think about it, I'm going to use the MACD for intraday trading for my SIM trading journal (which is coming soon).

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  #10 (permalink)
 SurtiTrader 
Surat+Gujarat/India
 
 
Posts: 25 since Jul 2014



N00bdayraider View Post
Thanks, though I hope nobody comes to me for knowledge/experience. I'm now taking a humbling approach to trading and hoping it turns me into a master.


Of course you will. But you need to take it seriously. I would like to suggest you to find an appropriate broker and practice risk free trading through Demo and then enter the real world of Forex. I did the same about 5 years ago and faced many difficulty at first, but now I have found the best broker and I am earning a lot through him.

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  #11 (permalink)
N00bdayraider
Jersey City, NJ
 
 
Posts: 8 since Jul 2015
Thanks: 2 given, 6 received


SurtiTrader View Post
Of course you will. But you need to take it seriously. I would like to suggest you to find an appropriate broker and practice risk free trading through Demo and then enter the real world of Forex. I did the same about 5 years ago and faced many difficulty at first, but now I have found the best broker and I am earning a lot through him.

I've actually decided I'm going to trade Futures instead of Options. I think I have a strategy that works, and I'm going to to paper trade with ThinkOrSwim for the next few months, just one contract, and see how it works.

With Options I would have to make perfect trades to profit with less than 10 contracts, 1 or 2 losses would seriously hurt me. With Futures 1 or 2 or even 3 losses can easily be cancelled out with 1 good trade.

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  #12 (permalink)
 SurtiTrader 
Surat+Gujarat/India
 
 
Posts: 25 since Jul 2014


N00bdayraider View Post
I've actually decided I'm going to trade Futures instead of Options. I think I have a strategy that works, and I'm going to to paper trade with ThinkOrSwim for the next few months, just one contract, and see how it works.

With Options I would have to make perfect trades to profit with less than 10 contracts, 1 or 2 losses would seriously hurt me. With Futures 1 or 2 or even 3 losses can easily be cancelled out with 1 good trade.

I prefer loss as the stepping stone towards success. You should not neglect it and because of the risk of losing you should not stop trade. I have also incurred loss when I have started trading and through every loss I gained experience regarding Forex Market and various brokers. My current broker helped me a lot to understand market analyzation and I am very happy that I chose him as my broker.

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