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Ville

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Ville last won the day on June 24 2018

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  1. Ville

    Broker for swing trading

    Hey guys, Haven't yet started live trading and thinking also about broker. Wouldn't it be good to have same account to day trade and swing trade, as you can use your swing trading money and shares to count them in PDT rule? For example if you use 15K in day trades and 15K in swing trades it still counts as 30K to PDT rules. And day trading money is always there for you to swing and swing shares are as collateral to your day trades. Make sense?
  2. I have now experimented in SIM how profit targets affects my trading. And the conclusion was, a lot. 1. When my daily goal is too far away(measured by how much i need profit per share or trade) i tend to overtrade a lot or stretch profit taking so that stock can turn against me. If i trade good setups with ok profits, but P/L is still far away i continue to trade so i would get to the goal and many times it leads to giving profits back, which destroys my psychology and P/L 2. If my goal is too small. I never learn to take bigger gains as i stop out early. The pressure is smaller, but so are the gains. I it will not prepare you to trading that will be profitable. Also if the gains are too small, greed kicks in and after that my decision are bad. So you need to look relative profits(%). This is why Andrew say's that the profits are not important at the beginning. If you make relatively great gains(%) you can gradually raise share size and make more absolute profit(€)
  3. Are we talking about ECN fees? They are separate from comission that brokers take. You can get them even in DAS simulator. Go to top bar "Trade" -> "Account Report". I'm in simulator and calculate costs 0,0035 per share + ECN fees shown in Account Report. The more you have tickets/scale, the more they add up. Then there is different lot's. "Board Lot" is block of shares that are measured in hundreds(100, 200, 300, 1000 etc.). Block less then a hundred(60,70, etc) is "Odd Lot" and numbers between hundreds are "mixed Lot". All these have affect ECN fees. It's quite easy to understand. If you add liquidity like Board Lots you get rewarded by lower fees. If you make it harder to the market to fill orders you have to pay like in Mixed Lot. My biggest weakness is overtrading and these fees has major impact if you overtrade. And Roberts post shows the range were i have seen them vary. But it's great that DAS calculates them so you don't need to guess or average them. In few strategies i have tested by using LIMIT orders because it adds liquidity and it not only reduces ECN fees but you can get rebate for adding liquidity, hence reducing fees even more. Never seen these rebates in live or done research so not sure does it really work in practice. But at least ECN fees are smaller. Mostly i just try to scale fewer times than Andrew because it'll eat small account if you scale six times on small share sizes. I still wouldn't start using LIMIT orders in fear of fees. Like Andrew says, at the beginning(or for a while after) it's not important at all. You need to learn everything else first and then you can make adjustments so you can be more cost efficient. But it is still good to know these things exists.
  4. Hey, has anyone tried Edgewonk trading journal? It seems good if it keeps all that it promises. It has flat rate of 169$ for life and 197$ with trader development program. So i think the pricing is good. I think i'll take the free trial at least once i go live. One review i've read says: . While each trader will come to their own conclusion, TraderVue has much better analytics then Profit.ly, while Profit.ly has slightly better and more active social networking. EdgeWonk, on the other hand, has arguably better analytics than TraderVue, without any social networking capabilities. https://edgewonk.com/
  5. Hi Robert! I've got to tell you that your rants and recaps are as useful, or even more, as Andrews. Andrew is so advanced level so it is useful to read someone who is in the middle of the process of becoming a trader. I think i and everyone else hang out more in the chat and forum and are more in mood to talk about everything when we are making ok results. But your rants and the section about your difficulties in Andrews new book is much more helpful and supportive! Those very dark feelings of doubt and anger are very normal and common, but very few addresses it. You are really showing great character! I'm on first month in SIM and it makes me lough when i sometime think that i can't do this Not because i think i can, but because one month is such a short time to judge myself. Planing to work in the SIM at least 3months(but i think i'll take 4th) and working hard to build strong mental foundation. Keep up the good work!
  6. Wow. Nice trades. And very good to hear from someone who's going throug the learning curve and shows progress. It is encouraging for others, like me. Nicely followed your rules! Keep up the good trading.
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