Would $15,000-30,000 be enough for that or do I realistically need $100,000. For reversion plays, I want the trade to go against me so I can get my whole fill. Alex doesn't care about the SNAP IPO or what FB is doing because those trades don't fall in his niche. Yelp to alert customers of businesses accused of racism, Twitter is making some big changes to fight election misinformation, ‘Seinfeld’s Newman is the star of a new anti-Trump ad, Conservative commentators think suburban women are horny for Pence, ‘Christian Girl Autumn’ influencer donates to trans meme creator who made her famous, Mom interrupts Google Meet class after teacher’s remarks about George Floyd, Woman twerking for Salt Bae gets berated by abusive ‘boyfriend’ in viral TikTok. There were a wide variety of topics discussed, and it was interesting to see the many variations in style. Is there a specific video series or website you recommend? Been following you since you've started posting, and it's super inspiring. The boards were not all that much different than what we have on Twitter these day. After coming home from work every night, Alex would research stocks. Editors' pick: Originally published Nov. 23. But ultimately, what was even more important was that I developed a methodology to protect profits. I like this. Its a group that I would assume exists to support new traders and facilitate trading discussion. Also every day on the videos! Volatility is everything to a pro trader. It's just like day trading, with the addition of continuous contributions, diversity, and a way different perspective on time. Your email address will not be published. Action Alerts PLUS is a registered trademark of TheStreet, Inc. RevShark's Essential Guild to Market Success, Apple's Stock Set to Rip Higher Well Into December: Must See Chart, Why Amazon Should Blow Everyone's Mind and Buy Macy's for Billions, Nvidia Scores Key Artificial Intelligence Deal With GE's Healthcare Division, Wall Street Futures Rebound, Europe Stocks Gain as Bulls Get Ready to Roar. His father would utilize a "buy and hold" strategy, common amongst most blue chip investors. He shorted 2000 shares, the stock pulled back ~$0.50/share and Alex made a $1000 profit. One online stock trader for example, 25-year-old Eddie Choi, gained widespread notoriety last year after he earned $100,000 with two trades. Proof that this is possible. If you beat the SPX, you did better than many many highly paid fund managers.. Hi, thanks for doing this... Just have one question. I had learned nothing about the excitement of technical analysis or momentum investing. (IIVI) , which is still trading today. Alex initially became interested in the stock market three years ago at the age of 19. You have to find yours. If competitive discussion, savagely high-level market memes, and top-of-the-line insights on trends and trades sound like your hustle, then this is the place for you. Press question mark to learn the rest of the keyboard shortcuts. Just because something works in theory or on paper via thought exercise does not mean it works practically in the real world. Alex saw that his Dad was making money and started to become interested in the stock market. How much have you made these last couple days? What I mean is I tried to change my strategy to suit a trading style other than the one I have found profitable. His selectiveness eventually led him to more consistent trading results. What do you trade? How do you trade s&p mini futures? There are many factors. Now he's trading close to $250,000 every day, he says. Your consistency, and discipline. No hearing aid or device could help me. Continue to grow your account and your yearly income continues to grow as well. Once or twice a year I will hit my ultimate stop which is -$10k for a trade. Buying breakouts clearly wasn't a viable strategy. For example, breakout plays are kept tighter than reversion plays. Financial statements, news stories, economics, valuations and the many other things we see in the financial press each day may be interesting, but if you wanted to make money, you had to find stocks that were moving in the right direction and stick with them. Thanks for sharing your journey and success. I traded that name aggressively with great success, and had some heated debates with Herb Greenberg over its merits. My small savings were rapidly depleted. Having a little skin in the game is important. My best year/worst year were +$830k/+$10k. I had a small disability insurance policy from the State Bar Association, so I wasn't going to starve, but I had no idea what I was going to do with my life. That’s where subs like r/wallstreetbets and r/pennystocks come in to help. We should always be focused on limiting our trading errors. Here’s what you should keep in mind. Thank you for your time Alex and thank you IU in bringing this to your members. Yes it is possible, BUT extremely unlikely. any advice would be appreciated, is it always better to trade with commissions instead of spreads? The subreddit r/Robinhood pertains mostly to the mobile app, allowing users to explore portfolio-building for the first time in small financial increments and simple lessons. Average time is probably 30-60 mins. That's the game with reversions. What’s in it for them? I see specific plays that people have made, yet people will usually only post their good trades, I have not seen big timeframe P/L's. New comments cannot be posted and votes cannot be cast. Onaje McDowelle is a contributing editor and writer for the Daily Dot. Futures, I believe, have better tax advantages and you can get really good intraday leverage. I too could have commented on his post critiquing his trading strategy (from theory I have read on) or pointing to youtubers who have had success, I don't want that here. Eventually, I came across some of the stock discussion boards. He doesn’t talk … Great traders put in countless hours of years to make it. Press question mark to learn the rest of the keyboard shortcuts. I'll be traveling for the next couple days so I won't be able to trade much if any. Here are some basic stats to get them out of the way: I use Lightspeed Trader as my broker/software. As the business began to grow, Alex's father started investing some of the extra profits in the stock market. A Reddit user on the site's "WallStreetBets" forum claimed they turned $35,000 into $1.25 million during the throes of the pandemic. I use simple moving averages on my index charts, but nothing except volume on individual stocks. Most day traders have a stock scanner and they set it up to look at stocks that have "gapped" up or down 10% to 50% since the prior day's close and have lots of volume, then they trade it … Danyel, highlighted on About.com because of his success, is a newer trader well on his way to becoming a Master Trader. He was running a website on AOL at the time, and invited me to set up the Shark Attack area for short-term traders. All the standard stuff that money managers use in running big funds. Wow I was just thinking about this today I did ok today - got into a Spy Wednesday Weekly right when market started to pull back in the morning But after 60% win .. It is a short book that outlines some of my market philosophy and basic trading principles. Every time Alex bought a breakout, the stock would move against him until he, ultimately, blew up his first small account. I never imagined that going deaf and losing everything would turn out the way it has. Let your winners make more money for you. If a breakout play fails, then I will often sell half. I thought it is Tuesday I wouldn't get more of a gain so I ended trade instead of looking at the chart not worrying about the money can and just staying in the trade because the chart told me to . $43k day happened in 2010. Yes! -- Roy T. Bennett.
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