The In's & Out's - Learning the Trade as a ROOKIE

Discussion in 'Trading' started by Stephen Lim, Feb 1, 2016.

  1. Hello all. I had just joined this community as I realized the e-trade community was pretty much garbage. I am a new day-trader, 14 days in at $1800+ in profits and one losing day. I started with a $27k initial investment.

    I was able to obtain this through really books, youtube, and all the general basic information there was on technical analysis. The reason for this dialogue is to get some ideas from others who have had great success, with not much support besides the resources available to everyone.

    I believe I have built a solid BASIC technical foundation, but still have a lot of connecting dots together to make complete sense. I am going off simple goals, $100/day average which was hit 13 days in, and currently, a $175 a day/average goal to be hit within the next 16 days. I nearly tripled my daily goal so far on this first of the month. I currently only trade volumes of 100 - 500, on companies such as AAPL, NFLX, FB, BBY, GPRO, DAL, VZ, and most of the big names.

    - Have others had great success in the beginning, and continued great success as the continued to trade, with as little support or guidance?

    - Is it recommended that I increase my volume rapidly to create more risk to reward? I noticed that part of making profits is to be efficient with letting winners, win, but I am afraid I will hit a flat spot. The next step would be to increase volume.

    - My current indicators are, 10SMA, 20SMA, 200SMA (on longer period charts), MACD, and Volume. Are there any other critical, or "better" indicators to be using for day-trading?

    - Are there any particular pieces of literature that is a MUST READ on better understanding the markets and technical analysis.. More so, avoiding the, this is how to trade books..


    I appreciate any input.