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Showing content with the highest reputation on 11/01/2020 in all areas

  1. 2 points
    Been trading now for a little over two years and I am just now at a place where I am comfortable risking 1% to try and make 2%. Most of the time, though, I'm only making between 1-1.5%. The biggest thing for me was overcoming my tendency to overtrade if I wasn't reaching my profit target. Many times I'd be up and give it all back because I hadn't yet reached my target. I've now limited myself to one trade max per day. I know that's probably not preferable to you (and most) but I've found that it really helps me to be much more selective with the trades I take. I also only trade 1-5min ORB's and nothing else. If I don't see a trade 10-15min after the open, I shut everything down and walk away. But it has taken me two years to get to this point of knowing myself (i.e., what works and what doesn't in terms of my personal trading psychology). So you just have to put your time in and try to find your niche. Try not to get overwhelmed by all the info, strategies, ect. out there. Just focus on one thing at a time.
  2. 1 point
    Hi All I am based in the UK and about a month in from sim on DAS and I am starting to understand risk, levels and partialing, some strategies and the technology. I am having some green days but I am still heavily overtrading (like a bazillion trades a day) - mainly to get as much practice as possible with live market conditions. So what I do is put a nominal stake in the ground and say "if this was real I would stop here", mark the time and then carry on practicing where I would invariably blow the profit with the multiple subsequent trades. I am concentrating on 1min 5min ORBS, HOD (John on the chat is very useful for this - thank you!), and long trend trades. For stocks in play I am using the suggestions in the daily chat (thank you Norm, Carlos, John, Andrew, Brian, Thor). So my nominal amount is $250 either in the green or the red - would this be a reasonable daily amount to aim for on a 25k PDT account? i.e. Andrew regularly posts daily profits of 10k (and sometimes a 38k loss!) on his ORBs which is very cool to see, but I am assuming his account is multiple times larger than the 25k minimum. Yours humbly Chris
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