Mr. Finn, I read the message you posted entitled "questions from a newbie". In it you said that you havent actually done any tradig but have been using the Cybertrader simullator. Well, I am in the same position that you are and the questions you posted are some of the same questions I had! So I was wondering, since we are both heading in the same direction at about the same time, if you would be interested in swaping any info. and experiences that you and I encounter? I really dont see where it could hurt and who knows maybe it will even help! Also to anyone else who is reading who is in the same boat , who wants to participate, please feel free to comment. The more the better. By the way Mr. TheFinn, I noticed that you posted that message in sept.2000, how have things been going these last four months? Any progress? please reply!
I don't know if I can help you two, but my aim is hkuppy. I normally trade the same types of pattern setups. But im glad to help any of you who want it in real time. Basically telling you when i enter/exit trades and my reasoning for those moves. Maybe you can learn something. Im still learning, but im to the point that i make a few thou. a day, so that maybe you can learn from me til you find someone more experienced.
Hey, thanks for the message. I have been doing what is called "swing" trading these last few months. The way I do it, though, is I buy a position hoping it will go right up, but if it doesn't, my "trade" becomes an "investment", and I keep the position until it is higher than I bought it at -I know everyone started by trading like this-ha, ha! Basically I have been afraid to let go. I need to stop doing this. I bought DISH about a month and a half ago, now it's back to where I bought it, I just want to sell it so I can start really trading. Next time I am going to put in a stop loss and sell no matter what if it goes down. I am also going to subscribe to qcharts and use stochastics and moving averages for my buy positions. I'll let you know how it works. You should read "the Underground.com Guide to Electronic Trading" by Jea Yu, it is very technical. What books have you read so far? The Finn
Praet, I just read your message. You make a few thousand a day! that is my goal. What indicators to you use? What is your whole setup? Do you ever have losing weeks? The Finn
The Finn I noticed in your message that youve been doing some real trading. I guess youve graduated from the simulators. Tell me hows it going? Who did you end up using as your broker? CyberTrader? how are things working out? Making any money? the books Ive just finished reading are: the electronic day trader, how to get started in electronic day trading Idiots guide to day trading like a pro, and day trade part time.
Three books that I'd recommend you read as a beginner are: "Beginners guide to Day Trading Online" by Toni Turner "Technical Analysis of the Financial Markets" by Murphy "Trade Your Way to Financial Freedom" by Van Tharp These will be very beneficial..
I use Datek. I am waiting for DISH to go up a little bit, then I am gonna sell the 500 shares I have for a little profit. I have not been trading too much. Made a little off Intel about a month ago. I really have not been "trading" as much lately. After I dump DISH, though, I am gonna implement stop losses and really trade. I have read a ton of books on the market. Jay Yu's is the best. After a while you notice they all sort of say the same thing (except for Mr. Yu's book): "don't get emotionally attached to your stock", "look for a break in support/resistance", "don't enter a trade too late", etc. I guess the best way to learn is to actually DO it. I still have a job, so I don't trade full-time (thus I don't use Cybertrader or Realtick software), do you?
TheFinn, Im not trading live yet. Im still in basic training. Have gone to the front lines yet. What made you decide to go with datek? are they working out for you? why didint you go w/ cybercorp?
Hi John , Finn just finished installing Windows2000 on my computer. I was having too many problems with WindowsME but was the only trader using it, so problem solved. Finn-- I NEED to stress the golden rule of trading to you CUT YOUR LOSSES SHORT AND LET PROFITS RUN. You are holding on to losses. This will soon bite you really bad. I would also recommend a different broker other than Datek if you want to daytrade. Datek is browser based. The majority of trading firms on this site are Windows based. It's software that you download off the internet and run on your computer. Datek you click on their website which is glorified email service. I've got some work to do but I'll check in later Robert Tharp
hello Mr. rTharp, How are you today? Let me ask you something... I gave you an idea of my goals(I hope). Now what is your suugestion? First of all - What market do you think I should concentrate on? Nasdaq? NYSE? Then what?Should I pick a few stocks to watch? Try and figure out why there moving the way ther headed and why.? What indicators or tech. analysis should I use? How do you decide which stocks your gonna trade each day? What about volume? praetorian2 says volume is everything? what are your thoughts on that? I need a system? what exactly does a system consist of?