So I started trying to learn to trade a long long time ago. Spent literally years watching charts until my eyes bled, reading trading books, watching youtube vid, backtesting and looking through old charts on my weekends instead of having fun etc. After attempting to learn and trade, I gave up after a 5 years of giving it my very best effort and losing lots of money. I left trading pretty confident in the fact that whatever techniques people use to trade profitably aren't in the public eye. Charts/TA/'price action' etc is all I had to go by and despite giving it my best shot, these things only lost me money. I also often read hints from profitable traders that real pros don't care about charts/TA/time+sales etc etc, although I never discovered what they DID use So, years later, I still have a natural interest in the markets. I just find it so interesting and still love watching it. As a little experiment adn mainly for run, I funded an account, and i'm going to take trades based on the tweets and posts of various traders who I vet online who appear to have some sort of possible 'edge'. Even if they don't, from watching their results, they are at least better than me, so if I lose money, i'll lose slower than taking my own calls!! Just trading typically 200 shares at a time on any given trade My last 3 days of doing this have all been small winners (+50, +10, +60),but i'll start 'day 1' from here I'll keep this up until I get bored or I lose the few K that I have in the account. I can't promise i'll be strict with this to be honest! Day 1 results: +107.10
My platform is making it very difficult for me to find this info, but the last 4 days have probably been like 70% long trades, 30% short trades. I think today was about 60% long trades, 40% short trades. I think I made like 16 trades today I typically trade like stocks from $5 to $50 Usually stocks below like $10 i'll trade maybe 400 shares. Stocks above more like 200 shares. Anyway, it's all just a bit of fun really. My research so far is that the collective trades of various posters are much better than what I can do with my technical analysis and I won't lost much sleep if it all goes pear shaped
one of my guys likes WYNN long here at 181, but it's a big stock and the stop is big (2.5 points) so just gonna watch
Sad story, Brian. Trading is just a discipline, like everything else (basketball, chess, football, F-1 racing, etc...). Some people are not made for it, that's all. I would strongly advise you not to try to shadow other traders. That would be like trying to shadow Mike Tyson at his prime on a boxing ring. Nothing good would come out of it. Become their manager, if you can. Manage them, have them work for you, but don't try to do what they do. Take two talented traders, tell one to go long, and the other to go short, chances are that both will make money out of their trade. Because they know how to manage their position. Best,
Without knowing anything about your sources, perhaps one shouldn't comment at all ... but I feel compelled to mention that this seems to be, at best, a very peculiar approach to risk management, Brian? Wouldn't it make more sense to choose a small percentage of your account-funds, per trade, and then adjust the number of shares to fit that? It would surely reduce the risk of one unsuccessful trade wiping out the profits from ten successful ones? Wishing you well with this, anyway.
very few people are capable to follow the others when the shit will hit the fan... but you have to stick with strategy ! let's wait until those others will start loosing - how long will you stick with them ?
when my account blows up that'll be the end of the experiment But I know that my chances are a lot better by following their calls than following my own