Itt: Ask a full time day trader anything

[MisterDiapers]

Whats a good simulator that I could start out on to learn the ropes?

[workthejab]

Can you expand more on volume profiling please.

Will do later, its a pretty big topic.. i recommend reading Mind over markets, markets in profile ( this is market profile books a bit different) because they are based on price vs time, volume is volume vs price

[nitro_gif]

I can confidently say, i am lucky to be learning from some of the best out there over skype on microphone every morning.. these are people that have traded their own accounts for years now and do this as their only source of income.. with 2 kids each and a house to pay for.. I also can say nothing they will teach you in school will help you out in trading.. sorry brahs.. fellow trader? will rape back

Just remember, day traders are not the billionaires.

To get into a large firm / fund you need the Degrees + the networks + the experience.

As true as your claim is, you cannot land much other than personal day trading w/out school.

[workthejab]

Whats a good simulator that I could start out on to learn the ropes?

you would have to fund an account, and get some real time charts up to ever be able to start this (srs) you could never day trade with delayed data or without a live DOM/trading platform

[vitalcerebral]

Will do later, its a pretty big topic.. i recommend reading Mind over markets, markets in profile ( this is market profile books a bit different) because they are based on price vs time, volume is volume vs price

Thanks man, I'll see if I can pick that up. I've only started trading, and need all the help I can get brah.

[nitro_gif]

Whats a good simulator that I could start out on to learn the ropes?

investopedia is awesome.

[workthejab]

Just remember, day traders are not the billionaires.

To get into a large firm / fund you need the Degrees + the networks + the experience.

As true as your claim is, you cannot land much other than personal day trading w/out school.

Do not want to land more then trading my own personal account. dont have to answer to anyone.. you determine your own success or failure. and that is also not true.. if you show a firm or hedgefund your track record of your own personal trading you are worth more to them then any dummy with a degree you have practical experience.

[iStinkFist]

Have you thought about trying to automate your strategy? That way the computer will execute your trades for you, and take out any human emotion or human error. And you could even make money while taking a nap or going to lift, if you even lift

[V8 Muscle]

Can you expand more on volume profiling please.

basically using a volume profile to identify areas where stocks tend to do the most volume and areas where stocks dont do a lot of volume. If a stock is in an area where a lot of volume is done thats usually a support or resistance area, while stocks tend to move more easily through areas where there has been less volume traded.

[MisterDiapers]

you would have to fund an account, and get some real time charts up to ever be able to start this (srs) you could never day trade with delayed data or without a live DOM/trading platform

so there are no simulators that have real time charts and data? damn. what trading platform do you recommend?

[workthejab]

I see what you are saying.. would love to hang out with you a day and see how you trade. Have a love for it myself. No schooling, but have taught myself a decent amount about stock trading and investing over the last year or two.

Cheers brah, i am young myself and hungry for success, ive put in 1000's of hours into this already and it is finally starting to pay off.. while all my boys are out partyin i am in bed waking up at 6:40 am to create my trading plan.. not many people can say they are willing to put 2 years fulltime into something without getting a payout yet. Things are changing though

[jake24]

Subscribed.

[workthejab]

Have you thought about trying to automate your strategy? That way the computer will execute your trades for you, and take out any human emotion or human error. And you could even make money while taking a nap or going to lift, if you even lift

I could not do that, a large part of my trading is discretionary and based on feel as well.. yes i do lift

[workthejab]

basically using a volume profile to identify areas where stocks tend to do the most volume and areas where stocks dont do a lot of volume. If a stock is in an area where a lot of volume is done thats usually a support or resistance area, while stocks tend to move more easily through areas where there has been less volume traded.

That is just scratching the surface i have also a bunch of statistics i use to help gauge what is most likely to happen in the short period of time, or the bias for the day etc. which allows you to hold for further targets etc.. basically that is the most simplistic way to define my method, i dont think i could ever type up what and how i do what i exactly do..

[nitro_gif]

so there are no simulators that have real time charts and data? damn. what trading platform do you recommend?

investopedia is 20 mins behind the real time but it is accurate and very realistic.

[workthejab]

investopedia is 20 mins behind the real time but it is accurate and very realistic.

20 mins behind you could always justify that you would of entered there etc.. plus you will never get to see what the actual order flow looks like at the certain point in time or gauge any perception of how the market is trading /context of the day. you would be running in circles unless you want to swing trade or hold for days at a time.. then you do not need live data as much

[jake24]

Op who do you think is the most leading authority on futures trading?... My guess Jim Rogers the co - founder of Quantum Fund.

[lems]

u trade forex brah?

[workthejab]

Op who do you think is the most leading authority on futures trading?... My guess Jim Rogers the co - founder of Quantum Fund.

Not really sure dont really care either to be honest bro, i just do what i have to do to get my piece of the cake.. there are trillions of dollars being transacted every day.. for anyone to believe that they cant figure out a way to scoop up 300-400 dollars of it a day talk about self limiting beliefs.. IMO alot of people talk about how the quants, high frequency trading has ruined the market etc.. but if anything they have made it more predictable because they can not place trades without leaving behind VOLUME on the volume profiles.. where the most volume is it is institutional trading, highly predictable short term..

[iStinkFist]

so there are no simulators that have real time charts and data? damn. what trading platform do you recommend?

AMP futures offers a free demo of Ninjatrader(charting software) with a CQG live market datafeed. I think its a 30 day free demo, but you can ask them to extend the demo once the 30 days is up.

http://www.ampfutures.com/ninjatrader_cqg.php

[workthejab]

u trade forex brah?

E-MINI S&P futures only, even though my way of trading can be applied to any market , anywhere it is basically just a holistic way of viewing the market

[workthejab]

AMP futures offers a free demo of Ninjatrader(charting software) with a CQG live market datafeed. I think its a 30 day free demo, but you can ask them to extend the demo once the 30 days is up.

http://www.ampfutures.com/ninjatrader_cqg.php

DO this if you can, i use ninja as my platform it will track all your stats for you.. as for getting your charts, ninja does not have volume profiling unless you buy an ADD on pack for it for about 300$

[jake24]

Not really sure dont really care either to be honest bro, i just do what i have to do to get my piece of the cake.. there are trillions of dollars being transacted every day.. for anyone to believe that they cant figure out a way to scoop up 300-400 dollars of it a day talk about self limiting beliefs.. IMO alot of people talk about how the quants, high frequency trading has ruined the market etc.. but if anything they have made it more predictable because they can not place trades without leaving behind VOLUME on the volume profiles.. where the most volume is it is institutional trading, highly predictable short term..

I hear u... The reason why I asked is I like to find the leading most authoritve person and learn from them... Where did you initially teach yourself on futures trading... I know of some people make killings on futures trading (also know some that lost tons as well).... Do you have Any book recomendations?

[vitalcerebral]

basically using a volume profile to identify areas where stocks tend to do the most volume and areas where stocks dont do a lot of volume. If a stock is in an area where a lot of volume is done thats usually a support or resistance area, while stocks tend to move more easily through areas where there has been less volume traded.

I understand that, but how do you identify stocks in a high volume area, i.e. how do you volume profile in the first place.

[workthejab]

I hear u... The reason why I asked is I like to find the leading most authoritve person and learn from them... Where did you initially teach yourself on futures trading... I know of some people make killings on futures trading (also know some that lost tons as well).... Do you have Any book recomendations?

In no way affiliated with this website, but i can vouch this guy is a solid trader / educator to give you basic knowledge of how the game is played futurestrader71.com he has begginer, intermediate, advanced.. then ways to formulate plans etc.. This will give you some basic knowledge however it will not make you a succesfull trader.. it does cost like 200$ for all his webinars or something, really good place to start.. I would focus more on trader psychology more then anything

BOOKS: trading in the zone, enhancing trader performance, the daily trading coach.. even books on meditation this game is all psychological beleive it or not learning to trade is the easy part. being consistent and not getting tricked into taking stupid trades because of emotional impulses is the hard part

[workthejab]

I understand that, but how do you identify stocks in a high volume area, i.e. how do you volume profile in the first place.

you need to get a charting software.. investor RT volume profile deluxe package, E-signal , sierra chart.. with the Symbol of the instrument you want to trade.. lets put it this way. when a market is trading sideways it is building a high volume area.. IF IT SHOOTS out of that side ways auction it is Likliest to get stopped in its track at the next area above or below it traded sideways and created a huge volume area.. nom sayin?

[vitalcerebral]

you need to get a charting software.. investor RT volume profile deluxe package, E-signal , sierra chart.. with the Symbol of the instrument you want to trade.. lets put it this way. when a market is trading sideways it is building a high volume area.. IF IT SHOOTS out of that side ways auction it is Likliest to get stopped in its track at the next area above or below it traded sideways and created a huge volume area.. nom sayin?

yes

sideways market = deemed fair price

moves above or below will meet resistance


I'm using freestockcharts.com, I assume there is a volume profiling indicator, I doubt they do it.

[workthejab]

Alright misc brahs, goin out for my good boys bday dinner gonna get loaded.. peace out

[steelmagnum]

whoever wants a free real-time platform should check out thinkorswim by td ameritrade. offers best tools, but you have to be kind of market-savvy to easily figure out how to set up software to your liking.

thank me later, reps accepted

[vitalcerebral]

whoever wants a free real-time platform should check out thinkorswim by td ameritrade. offers best tools, but you have to be kind of market-savvy to easily figure out how to set up software to your liking.

thank me later, reps accepted

you have to be an american national I think