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DSchenk

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Everything posted by DSchenk

  1. Not the best start back in today. Watchlist Trades Was trading well in the beginning on IFRX. Then tried to make some gains on CHS, which didn't work out as planned. Raised the stakes a bit and went back on IFRX. Got too cocky in the end and booked a big loss on a $0.10 flush out. Glad I'm still on Demo
  2. Ok, so let's have a look what was going on with Ross whilst I've been away. In terms of trading strategy, this video got released: https://youtu.be/_NAM_oTYUQM There's a nice pdf you can download for free here: https://www.warriortrading.com/small-account-strategy-lesson/ In short: Scanning the market for biggest gappers with highest relative volume. Price under $20, above $1 Entry set-ups: Pullback patterns on 1min and 5min charts Risk Management: Risk $50 to make $100 (or 10% of account size) Daily max loss -$100 (or 20% of account size) 3 consecutive losers and out for the day In terms of broker: https://youtu.be/Tm-mOUMkM8E Answer: CMEG (offshore, to work around PDT rule in the US) In terms of charting: https://youtu.be/8wkucabTMk4 TD Ameritrade, cause charts are for free In terms of Starting capital: https://youtu.be/RTuq7QXniFc Answer: $500 Matches with my defined rules for this challenge. Can't wait to dive in again. Unfortunately just found out it's Thanks Giving this week 🤯 No trading on Thursday, and prob no point on Friday neither.
  3. Good start this analytics dashboard, but long way to go. It's 2019! A top Data Analytics Dashboard should be standard procedure for any broker The analytics form ProRealTime contains a lot more data and lets you drill down a lot better.
  4. Good man @dmedin. Live or demo? How's @nit2wynit doing? From next week I'm gonna jump back into the small account challenge on Demo again. Not worth doing it here in SEA, cause US market open is too late. Not having the head to trade at like 21.30 at night. Think my plan is gonna be to grow to £1000 with the initial £500, then try the same on live. If it's not working out, might switch solely to long term investing, trend following, buying the dip in blue-chips, etc. Smaller returns, but at least not losing cash like in day trading, haha
  5. Still in SEA. I can't even access this forum without a VPN Back in the game next week pals. Promise!
  6. Yes, green are manual entries and red crosses sells Remember, the big bull run towards the end is only visible in hindsight My rationale was to enter whenever there was a small pullback and then a 1min candle making a new high. And then I sold as soon as I could once in profit, typically every $20ct move. That was £6 of profit every trade. Done that 10-12 times or so Although also have to say, if one of those positions went against me, the daily profit would've likely been gone. So will have to see in future how this scalping with high position sizes works out
  7. Almost everything that makes you a million bucks is one in a million or worse. Found a business and grow it to a million bucks profit per year - 9 out of 10 start-ups fail in the first year. Only few make it to 7 figures Work in a corporate environment and work yourself up the ladder until you earn 1 million per year - chances are extremely thin - Only members of the C-Level suite earn that kind of money and the average time until you get there is probably 20 years or more Invest for the longterm until your portfolio reaches 1 million - will take a long time depending on with how much you start Try to marry into a rich family - good luck finding someone - chances, less than 1 in a million Wait for your elders to decease so that you can inherit their million bucks - have fun waiting until your 50, the average age where you inherit Winning the lottery - chance less than 1 in 10 million Considering all of this, day trading doesn't seem to be too far off. And the best thing is you can give it a try while you're exploring one of the other options above as a fallback.
  8. Slight change of game plan for me. On short notice flying to South East Asia today. US Market Open is over there at 21.30, so not too sure how much I'm going to be able to trade. Possibly need to re-start the small account challenge when I'm back, end of November.
  9. Love this thread - reads like a comedy show
  10. If its only IG's client sentiment then we would first need to know how good IGs traders are compared to the rest Then we could either specifically trade against it (if IG traders are ****) or go with it (if they are the best).
  11. Cool When I started out here in this forum I thought @Caseynotes was the admin He's just too seriously active in here for being just a normal guy
  12. Found this video there the other day, which shows how IG hedges. (At minute 2.00 approx) They don't hedge individual customers, but overall positions. So if 100 customers trade let's say FTSE 100, 50 short and 50 long (with same size), they don't hedge at all, cause the customers hedge each other. If 80 would go long and only 20 short, then at one point they hedge and go long on the underlying market.
  13. Here's how I configured my platform btw. Screen 1 Main trading screen with the following windows (from top left to bottom right) Watchlist Scanner Alerts Charts (5min, daily, 1min) Level 2 window (although not working as discussed above) Realtime Time and Sales Window Order Entry Screen 2 Executed Orders Open Positions 2 more charts for stuff I'm watching next to my main trading window Excel "Cheat Sheet" which I use for calculating position sizes and keep track on available funds, margin, etc. (cause PRT doesn't provide that by default for some odd reason) (The daily PnL shows -£20,000 cause I first needed to deplete the demo account down to £500 before I could start trading with the small account challenge)
  14. Nice @elle My watchlist today was: Traded mostly XNET and a little AUY. Went well. Up £81 (+16.2%) Account balance Day 1: £581 XNET Classic Gap and go My strategy was to take profit as quick as possible. Typically every $0.20. Scalped myself up that way pretty well
  15. Ah ok. That's unfortunate. Does anyone know a provider who offers L2 data for the US market - for a similar price like IG does for UK market - couple of £ per month?
  16. Level 2 Having the same issues again as a few weeks back. Subscribed to the relevant exchanges via IG. But no Level 2 data showing up in L2. @CharlotteIG Can you advise please what's wrong?
  17. Thanks for the reply @CharlotteIG I should be fine for this month anyway, and at the end of next month we shall see how far we will have come with this approach. Maybe in a position then to place a few trades on live already
  18. Yep, Apple and other large cap stocks are off limits. Focus will be on stocks under $10
  19. Challenge 2: My Demo account has £20,686 in it. How do I get it down to £500? Do I need to place a couple of trades to lose it and then charge £500 on it? Lol
  20. He mentioned he's gonna make a video shortly explaining what costs he is occurring with the small account. He obviously needs to use a different broker than his usual one, cause he needs to work around the PDT rule in the US (until his account has reached £25k). So he will need to use an offshore broker rather than a US one. Btw, just started a new thread about this: https://community.ig.com/forums/topic/7773-small-account-challenge-aka-warrior-trading-strategy/
  21. Challenge 1: Setting up PRT for a Demo account Message from IG: You have activated ProRealTime. As you currently trade regularly with us, the normal monthly fee of GBP 30 has been waived. ProRealTime will continue to be available to you free of charge if you meet our minimum number of transactions per calendar month, and we will never debit the monthly fee from your account without your prior agreement. You have activated ProRealTime. If you trade four or more times with us in a given month, you will not be charged for advanced chart access. Otherwise there is a monthly fee of GBP 30. See our Terms & Conditions for details. Obviously not keen on paying the £30 per month. So I'm thinking of still placing 4 trades per month on live to keep it free. Should be possible to maybe take 4 positions on a slow moving asset like an index and close it straight away, so you only pay the spread. Should be way cheaper this way than £30. Like spread on FTSE with size 0.5, costs £0.5. 4x this makes £2 per month. What do you think of this approach? Makes more sense to me than paying the £30.
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