DSchenk
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Posts posted by DSchenk
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Was going well for me today
Started off on the wrong foot on SFET. Leading gapper, but was selling off
Then one trade on GTT, which was a break-even
Then I saw ASLN popping up on the screener. Just up 50%.
I jump in and ride it nicely.
Total profit: £581.20
I got to give it to you @nit2wynit, this US market open gap and go play is insane
Actually think this could work.
My funds in the account are now little over £1000 already, how long should I play on the demo? Until £5k?
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5 minutes ago, nit2wynit said:
5000 shares?? That's not right, is it? 100,000 isn't it?
What do I know though lol. I'm a bit late trying to figure this out again.Won't matter much anyway. As you see most of the tickers gapping up have more than 50k volume anyway. Just don't want to miss anything. As long as the scanner only spits out 10-20 tickers or so all good.
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Gonna look at this from the open
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I know this sounds standard, but tried rebooting?
Solved this problem for me 100% of the time so far - Only the Microsoft god knows why
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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
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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
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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.
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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.
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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-
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Still in SEA. I can't even access this forum without a VPN
Back in the game next week pals. Promise!
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12 hours ago, nit2wynit said:
Are you an international Spy? lol
I wish, at least they would have to pay me then
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triple post - what's going on with this airport wifi
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9 hours ago, dmedin said:
Are the green orders your manual entries and the red crosses your sells? If so I would be interested to know your rational for buying and selling at those points. Towards the end you have a big bull run, and I cannot understand why you would be closing in and out of that so much when you could let it run.
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
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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.
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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.
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Love this thread - reads like a comedy show
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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).
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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
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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.
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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)
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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
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2 minutes ago, CharlotteIG said:
@DSchenk- For US exchanges we can't offer L2 order book data, which is why the charges are the same for L1 and L2. Apologies that hasn't been clarified sooner.
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?
Small Account Challenge aka Warrior Trading Strategy
in General Trading Strategy Discussion
Posted
Still going the beast. Will be interesting to see later, what Ross has done with it. Classic Ross ticker, sure he's done well on it