Lots of good advice postings here in this thread for folks to look at. A lot can be learned here by reading this thread. At it's core though, this is a wind-up.
+14.6% today. Traded horribly today. Missed some couple fakes that I expected may happen.. wasn't patient enough. Good thing the overall traded moved as I'd predicted. Otherwise might have ended up with a huge loss. Horrible horrible horrible. I always think I start the day safe, but once I get into trading I keep forgetting the rules I made for myself that's supposed to protect my account. Instead of playing defensive, I go offensive and don't realize until my screen is red. Lucky trades today. Good predictions but lucky trades.
Not sure what "peanut gallery stuff" means haha but im live streaming so i can see myself trade afterwards and also to get people's attention. im the only guy around me who loves trading and it's been a lonely past 7 years.
thank you sir! the videos, honestly, are very boring. i'm thinking of editing it so the video only contains the parts where i'm trading and deleting all the observation parts. but if you got time to spare, look me up! stockfather
In the old days, when the NYSE trading volumes were low, someone came up with the idea of generating side revenues. For a small fee, anyone could sit in a designated gallery above the trading pit, and throw peanuts at the under-performing pit traders below, for amusement. The show became so popular that at some point in time, the revenues from the peanut galleries exceeded the exchange fees from the pits. It all ended abruptly when the new NYSE commissioner came along. He had peanut allergy and no sense of humor. The expression "open yourself to the peanut gallery" is thus a floor lingo, which means that you expose yourself as an incompetent trader to the endless stream of ridicule and schadenfreude from the spectators. And don't ask me what schadenfreude means.
Getting more capital is fine although you could've gotten that much money from a loan with lot lower interest rate but you REALLY should've kept your day job especially when it actually gives you the exposure to the financial world. You should NEVER trade with money that you cannot afford to lose. That's the No. 1 rule in trading. So many people break that rule and so many people face very dire consequences as a result of it. Lendingclub sending a couple of goons to break your kneecap is the least of your worries. Without a second income, trading is VERY risky and stressful especially if you are planning on daytrading. The No. 1 rule to succeed in daytrading is cut your losses early and let your profit run. That's VERY HARD to do if you don't have a backup income so the chance of you succeeding in daytrading is very limited. I am not saying you won't succeed but just saying the odds is against you. You are able to do well in paper trading, that's because there is no real money involved. If you lose, there is no impact on your real life financial situation but once real money is involved, then it's a whole new ball game as you will soon find out. So my advise to you is this: Get a backup income. Get a job, even a part-time one. Get a sugar mommy/daddy or live with your parents, something as a second source of income. Good luck!
@wabu27 why are you watching a WTI CFD chart in Investing.com while you've got IB open and trade CL? Why don't you just watch it in IB...