Hey there and welcome to begginers corner. My ,,Homeversity" journey started 18 months ago. I find it rational, to start with demos and sims. TDA think or swim, the best one, discovered so far, offers realistic spreads, painful market orders, and low fill times for limit orders, if the price is too low, or too high. Some details : * Using limit orders to enter, with GTC stops ( all shorts, except for few liquid, higher cap longs ) * Some stop loss are mental. * Position size 1000$ at the most. * Swing trading, 3 / 7 days. ( while locking in 50% of big winners profits, and letting the rest to go on, with TSL ) * Allocation included. * RRR expectency at least 1 / 3 up to 1 / 7. * Liquidity isn't the key factor. * Shorting fees , no more 1% per ticker, mostly 0.3%. * The option to trade options, remains for future, ,one step a the time. ( Btw - Thank You @vanzandt ) Went through 900 names, to choose 15~ best ones imo. BLX opened today, i might cut it fast, if it doesn't play out. Will start with the real $1 000 pretty soon, one swing per week, maybe 2 positions 2 x $1 000, slowly increasing portfolio size by adding, +$500/$800 a month, from salary. ( if two positions, then, at least one has to be , long, due short squeze danger & PDT ) Real results will be shared here as well. Maybe i will join the 90/90/90 club, who knows.... Any comments welcome. The spring is almost here, so, have a nice, green, day. p.s And ofcourse, music, from ,,the days", when i practiced with AMD, and there was that many indicators on screen, that price action was barely visible, and the only thing missing, was ishibuku clouds and rainbows...
My access to edit original post, is gone, so il update here, an important thing to mention, those $1 000, positions are only for practice/testing purpose, on winning trades %, and PnL % , given the fact that from $200 000 trading capital in demo, im using only 5%. In reality, there will be single position, until PdT rule , will no longer apply. Maybe up to 3 / 6 later on.
Demo week was green, all positions liquidated, total gain per week 3%~ on $10 k, (position size max $1 000) results : Real account will have - one single position, one swing trade per week, untill PDT, no longer applies. On Sunday, i shall share next 10 positions, for comming week. Have a nice, shiny & green weekend .
Sim. New week, position size, $5 000 at most, 7 stocks, 4 shorts, 3 longs. CMC was sold, first hour, after markets opened, realised that entry, could have been, way better. 3 shorts/3 longs left. Mental stop loss on CMT. Result's will be shared, on friday night.
All shorts are gone. Down 1.25% this week so far, where the previous one was 3% up. Made a mistake, with timming, on two positions & that was 0.625% loss. Waited for a better exit at CMT If not looking for excuses, but reationaly reflecting back on myself, what was the couse for playing that poor, might be the rush on weekend, when looking for stocks to enter,..., also paying attention to fundamentals, which i never did before,.., trading through... phone. Long hours at daily job & lack of sleep, had an impact on decision making, which impacted daily job too. (But all of that - for starting capital) Anyway, waitin for the last two to play out. P.s didn't had a chance to share, best trade so far, personal record, 6 weeks ago, in 3 days ~ +60%~ up. Max drawdown ever, per position, 6%~. I hope that you're doing , 3x better than me.
Demo week #2 results : Total 1.8% loss in 7 positions on $30 000 capital. ( prior week , 3% profit, 14 positions. ) Things to do : * To check betas for the biggest winners & loosers. * To check, how many of them were in same business sector. Things not to do : * Buying illiquid stocks. ( yup, ,,genius"... ) * Avaraging loosing trade. Well, got some homework for the weekend. ,,Homework", with the technical aspects & the mindset, because correlation between, trading expectatiotions that i bring and my mood is 1:1, wheres emotions, should be the last thing in here. Hey - have a shiny weekend.
P.s i see that CLR, was in uptrend & i shorted it, which i never do, as i never go long in -downtrend ; there's no rational explanation for that, must be a mistake in judgment, influenced by lack of sleep. A journal note, before taking a position, would be valuable right now. Another thing to Things to Do list. * Do a research & enter position, only when properly rested.
Demo Week #2 One position ( if i get filled ) 7 companies on watchlist, might buy or short them, during this week.