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About Me

  • About UnknownKnown
    I'm a n00b US stock trader who is hoping to turn trading into a living. I know how risky swing trading can be for a n00b but I'm a fast study and worse case scenario is I lose my trading money and have to get a real job (blowing my account does not put me in a cardboard condo.) At least I'll have experience instead of student debts and an English degree.

    My plan-so-far is to look for stocks with good evidence of a continuing up-trend that can yield at least 3%+ before hitting the first resistance I see on the chart. I like to limit my losses to a maximum of 1% but would risk 2% for a stock I feel has strong potential of 7%+ before first resistance.

    On paper I'm good at finding both stocks that have a well established daily up-trend and stocks that are two to three daily bars into a recovery with volume as a confirmation of the potential trend. I've been setting support and resistance lines just by looking for periods of sideways movement. I look to place

    I'd say I have two glaring weaknesses that trouble me. My primary concern is my inexperience placing live trades. I understand how it works and I tried to account for slippage when pricing my paper “limit orders”. I may be confident that I have a “reads BMT posts” level of knowledge but that is no replacement for money lost to n00b mistakes.

    The other major concern is my total reliance on a bull market. If I can't find solid bullish potential I'm back to paper so I can figure out how I want to screen and play the down or sideways market. Once I'm up and trading I fully intend to start a journal so I can learn from the feedback. Give it a few years and I might even get to pass on what I've learned through losses and losers.
    Akron, Ohio
    Favorite Futures
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  • Last Activity: August 15th, 2014
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June 27th, 2014
03:22 PM - UnknownKnown quoted  tturner86  in post What is your biggest trading challenge?
I am surprised that as of now, the #1 result in the poll is ...
June 15th, 2014
10:56 PM -  Branzol  quoted UnknownKnown in post What is your internet speed?
I can hope but along the same line of thinking it also could ge...
12:15 AM - UnknownKnown quoted  Silvester17  in post What is your internet speed?
who knows, maybe the merger between time warner and comcast wi...
12:08 AM - UnknownKnown quoted  Itchymoku  in post Blue Collar or White Collar, which describes you?
That's why in some ways being a machinist, at least if you c...
June 14th, 2014
11:37 PM -  Silvester17  quoted UnknownKnown in post What is your internet speed?
I've got a 15/1 Mbps (1.875/0.25 MBps) plan from TWC. It's a re...
June 13th, 2014
08:52 PM -  Itchymoku  quoted UnknownKnown in post Blue Collar or White Collar, which describes you?
I view "blue collar" from the leans of a machinist. Some of the...
05:49 PM - UnknownKnown quoted  Itchymoku  in post Blue Collar or White Collar, which describes you?
my guess is if a blue collar worker can earn enough to actua...

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