Not sure if this is the right place to ask this but I am trying to get into trading. I Am using IG to trade, I like their Prorealtime software. I also use think or swim to look at charts and carry out scans. I use FinViz as well to scan the market. I find that I am not able to trade all stocks with IG, and would like to find a better scanner which I don't have to pay for. I also feel it would be good to use a Level 2 feed but don't want to be paying for that as well. I have watched a bunch of DVD's for day trading and am still learning but was looking for advice, If i should continue using IG if there is a better option. I live in London but would like to be trading US stocks, the US market opens at 2.30 here which is great. I just keep finding I am unable to trade the stocks which actually have volatility. I have Left my job and was studying a bit for my profession. If i become successful with this then I hope to not go back to work. I have bought 2 houses with mortgages and have about 10k to spare for trading. I am just worried I will lose it. I am aiming to make about £150 day only so hope that is possible. Hope the above makes sense, look forward to hearing from you
Yeh, plan to spend a lot of time observing till i feel confident. Trying to work out which Platform, Broker is best to use from the UK. Or if I just just continue with IG and miss out on loads of trades.
Heck that is only 80 hour weeks for 2.25 years, go by like melted ice in July. Think about it, wake up it is dark, get done when it dark, drink strong coffee, oh wait he lives in London Florida? They drink Tea down there? Long Island Tea? Man, South Florida has those bugs size of tennis balls down there, they get on windshield and need crowbar to scrape them off....
If you are living in London, why not just stop over at Navinder Sarao's parents place and invite him over to your trading office. I am sure they have taken his computer away, so he'll need to teach you on your set-up. BTW: You better hurray, he's about to be extradicted to the USA.
With 252 trading days in a year, you are "aiming" to make a 4160% annual return on your account. Think you can do it? Go for it.
Join as many free-webinars as time allows (don't pay an educator/ mentor), read as many books as humanly possible develop ideas and test them with small real positions but no matter how much you prepare in the end you will have to pay for your trading education with real time experience IE you'll lose the 10k GBP thus if it is money you can't and shouldn't risk then stand aside.... PS in my opinion paper trading does not work....
Seriously. Maybe not 10,000 hours but Math is hard...... How did you arrive at the 4160% annual return figure? 150 X 252 = 37,800 37,800/10,000 = 3.78 How is that 4,160% ? Looks a lot like 378% to me. I am not saying he can do it but it isn't a 4,160% return. If he were to make a 4160% return on 10,000 we are talking more like 416,000 dollars. Next time when you are trying to make fun of a new trader do the math. I know it's hard but just do it.
Trading stocks? Open up a futures account and learn how to trade order flow. Spend a couple of years sim trading until you are right AT LEAST 60% of the time.