That's pure 50/50 gambling and not real trading. I had watched some of your video and from what I see, I don't think you're anywhere near having a functional system. Usually I can kind of figure out how someone trades, but watching your vids I honestly had no idea what you were doing. You actually remind me a lot about myself when I was your age. I'm guessing you have an impulsive personality. That's dangerous. I've done the trying to short into a strong rally and then getting trapped before. It's painful I know. I honestly think you need to stop and take a break. I know you're in a lot of debt and is desperate to try to pay it all back. But you seriously need to look at yourself and re-evaluate your trading method. Read some books or something. P.S. This kid was in the same mess as you are now. He daytraded and lost over 150k. He eventually pay it all back but not by continuing daytrading. I post the link to help you. Maybe you might find inspiration from him. Good luck. http://www.debtkid.com/about
Day 27 +19.39% Traded. Traded. and traded. missed a really good profit run but overall result is still good. Traded hastily again (haha...) once i was able to use 3 positions. I worked all day yesterday but tonight i have the night off so i'm going to meditate and think deeply about trading size and risk/reward.
A couple of things here... A. You might wish to re-read this thread in it's entirety since you started it 18 months ago to reflect upon what people have been saying from then until now, now that you have an 18-month perspective of trading history to do the hindsight thing. B. I think some of us are lost on your totals so far. I think you mentioned you started with 5K, took out an 11K loan, wanted to get up to $30K to finally be able to day trade, etc? Now all we see are percentages of gain and loss, but no mention of additional deposits/withdraws. No mention of account balance. C. The video you just posted has too low of a resolution to make out the numbers (at least on my end.) D. You are using streaming charts from uk.investing.com to make your trading decisions? I took a look at them today and saw a bit of a delay in the change of last trade price compared to the data feed I have. I am not sure if that delay exists on your end. E. Why are you using a website for charting anyway? Do you not have charting software? I do not know how IB works. Does that IB interface not have charting ability?
I saw IB realtime feed and liked investing.com's look better. I use investing.com for the overall trends but use IBs chart prices for my entry and exits. Sometimes investing.com has a second delay, but most times its almost real-time. I lost all loans and previous money. I dont know how much it was but it was over 40K. I started again with $3200 and living off of my bank account which currently has about $1200. I save close to $1000 each month so am planning on living off from paychecks, save money on my bank accounts, and not make and deposit or withdrawls to my brokerage account so math is kept simple. For video quality, not sure how ot works. I can see it 480HD from my computer. Hope this explains everything.
You don't know exactly how much you lost? That is troubling. You really need to get a grip on how much you have, how much you gain and how much you lose. Good grief. You better rethink your plans. What happens if you have an emergency of some sort? Will $1,200 cover it? Living paycheck-to-paycheck is not living, it is survival mode. That is not a mode one should be trading in. Consult with a good financial planner, ASAP. It sucks to see someone dig holes they cannot get out of, even if they be strangers.
Just a suggestion. Out of your $1000 in savings a month, put $500 or $750 into some sort of savings vehicle and don't touch it. Add the other $500 or $250 into your trading account and then watch it disappear. Seriously, if you are having close to -50% days, then the less you put into your trading account and the more you sock away into a savings vehicle, the better off you will be.
Day 28 +18.8% Started the day off terribly, making simple mistakes and impulse trading. Didnt analyze chart close enough to catch the ceiling line... Thought i was doomed after doing some trading subsequent to the oil news. Luckily my analyses was correct and was able to pull off a big win.
Day 29 +25.3% Due to technical difficulties (poor wifi), i couldn't stream all of today's trades and only have the beginning portion. However, today's trading went really well as I entered shorts near the top of the huge downfall today. Made all my 40% loss back from Monday and broke the $7000 line!!! YESSSSSSSSSSSSSS Going to work early today because I'M SO HAPPYYYYYYYY