Will start daytrading in one week

Where is Don?

 

Try options too

 

In Denver this weekend.

nitro

 

Dont start with more than 200 shares. Your account can be wiped out if the market goes agianst you.

 

Bad habits of paper trading?

No pressure, no real losses, mistakes don't cost you, thinking that a flight simulator is like flying a real plane, stuff like that.

Having to step back and paper trade usually indicates something wrong emotionally, not with the technical system. Is the loss of confidence in the system, or the ability to execute on it?

The only thing that will restore real confidence is a Randy Johnson fastball coming at you and jacking it out of the yard.


777

 

Have a backup broker. IB have glitches sometimes.

 

Now, do you seriously think someone that just scraped up enough to open an account is going to come up with more to fund a back-up broker?

 

Or, know what to do with one ...

 

Direct access brokers are the best. I wonder why Ameritrade, ETrade and the like dont give up.

 

You'll make more with swing trades. Gaps do happen pretty often. And that's what make you more money if your position is in the right direction. Supposed you were short WCOM and kept it overnight... It;s a different story if you were long.... It just depends on your risk tolerance.