Good Job pawpaw!! I bought Puts on CF yesterday and Calls today. That was a nice roller coaster ride. I am getting content with entering and exiting intraday. I look forward to trading large positions and have a 20% profit. Gotta crawl before walking.....by rookie30 - Trading Discussion
There are two books that I highly recommend and suggest everyone read. Technical Analysis for Dummies and The Market Makers Edge are two of the most beneficial books I have read on the list. The Power of Focus is also very good. I realize a couple of these books have been suggested by other members of this site, but I am confirming how important the two books can be to a trader. I reachedby rookie30 - Trading Discussion
I just purchased Briefing.com a little over a week ago. I really like it, but I also have CNBC practically all day through TOS. However the information through Briefing is detailed and provides news hot off the press, I am contemplating discontinuing the subscription. $65 a month for news and other related details is a little pricey. I also do not have a lot of time to look at briefing as ofteby rookie30 - Trading Discussion
djpl8.... I will chime in on your last post. The person who mentored me, has worked extremely hard for over 7 years-100% under Gary's program. He talks about the national and international affairs as if he is a politician ready to run for presidency. One thing he consistently says is, "Trading is more Art than Science. If you do not have the art part down, forget about being a good tradby rookie30 - Trading Discussion
Thanks for sharing. It keeps everyone motivated and builds courage. Rookieby rookie30 - Trading Discussion
I am waiting and practicing as well. My practice trades are not going well enough for me to jump out in real money trades. I am trading off smaller charts right now and seem to be having pretty good success. I am back trading 25 practice trades a week. I set up my 4 expert stocks on a quad screens, pull up a 13 minute chart, check the 55 for a solid trend, and watch for a break on my trendlinby rookie30 - Trading Discussion
Thanks for the reality check. I want to follow that money progression plan that Gary included- in Class One I think. Gaining 20% on 8 trades a month keeps me on track. I am going to get that plan out of my head and just take what the market gives me. Again, I appreciate the reality check. Why am I complaining about 15%.... Sorry guys, I am not greedy. I am just trying to follow this plan.by rookie30 - Trading Discussion
Kars, I do not know how long you have been trading, but you are definately on the right forum. There is NOTHING else out there that gives you pointers and assistance on how to trade under WSB. There are some really good folks out here. Months ago I stated to someone else, go back through the different discussions and find every post from DARCY. Her knowledge and ability to explain how procesby rookie30 - Trading Discussion
Do not ignore the significance of VOLUME AND MONEY FLOW!!!!by rookie30 - Trading Discussion
Kars, That is exactly what happened to me. I called Ameritrade. They initially set me up under the "Orange" status in TOS, so they had to first reduce the status to "Green". They explained that Orange is the full version of TOS. Green is the minimized version. Honestly, I can not see any differences. The main thing I wanted was for them to grant my access to SD. I waby rookie30 - Trading Discussion
Kars, I had a certain number I planned per week. I did my 3 news plays a day. Gary said those are used as practice plays as well, so that left me with only 5 practice plays to set up a day. I think one misunderstanding about 40 practice trades a week is you almost can not physically enter 25 practice trades a week, unless you are glued to the computer all day- just my opinion. We have 9-5'by rookie30 - Trading Discussion
dmkratzer, I lost money (about another $125), but I got out before getting crushed to bad. Again, God was looking out for me. I will practice with the new charts ( Strategy Desk) until I am very comfortable going back out with real money. After the loss, I have set up about 10 practice trades. I did well with 4 that I practiced. My problem is I am pulling the string so fast right now. As soby rookie30 - Trading Discussion
Dash, I am with you. That has been my issue. When there is not an obvious trade in one the stocks that I am familiar, I tend to start loooking for a trade within stocks that I have only glimpsed. This discipline thing is a "beast". I have to remember, the market is going to give me what it is going to give. The other thing I have been forced to realize is, I have much less knowby rookie30 - Trading Discussion
I used Qcharts for almost 2 years and was afraid to switch, but after the last price hike, I simply did not feel I could afford to keep it. I started using Strategy Desk with the assistance of TOS for futures and a couple of other small components. I made the switch my brokerage firms about 2 weeks ago. Initially, I was using TOS as my primary. I liked parts of it, but I could not get the charby rookie30 - Trading Discussion
I allowed my emotions to take control today! I jumped a trade and lost $150. AMZN gave me a "headfake". I bought puts at around 11:00. I thought it was going on down based on candle formation, RTT, and previous FP. Anyway, I should have never bought a put so close to the bottom BB, and NAS and DOW were on opposite sides of of the track. Not smart! Woa!! That was not good enough foby rookie30 - Trading Discussion
Really good stuff! I really want to trade with charts that are as close to Qcharts as possible. When trading with Qc, I used the 55, 233, 21, 13 and 8-alot! I downloaded SD yesterday, but the program would not take my User Name or Password. I am calling Ameritrade this morning. When I opened my account, I was told that SD was no longer available, but the ones who are using it will keep it.by rookie30 - Trading Discussion
I am mentoring two friends. The questions was asked yesterday, "How do you trade during a flat day". Well, first of all, we are only supposed to place 5-10 trades a month, so being content studying the market for a couple of days is not a crime. Nevertheless, I wanted to provide a level of training to each of them on how to make money during a "flat day". First of all, eveby rookie30 - Trading Discussion
Wow, 8 year! I have struggled after switching to TOS. I am working hours a day, trying to get a good handle on what I need from this platform. I still have the service until the end of the month, so I am trying to replicate as much as possible. I made my first "real money" trade on appl this week, using TOS. It spike in after market hours on Thursday morning based on news regaby rookie30 - Trading Discussion
Thanks for that info. I am a sponge right now. I am gaining as much information regarding this platform as possible. I need to get back to trading "real money". One other thing that I have discovered is, if you save the TOS Program File to an external drive, you can access it on any computer that has online capability. Well, let me back up. I have been able to access the platform eby rookie30 - Trading Discussion
Thank you very much for your feedback. I have gotten feedback from a few people through PM. I really appreciate your help. I have chosen to go with TOS. It is totally free-with or without funds in the account. My brokerage account was Scottrade. I have been happy with them, but I love the idea of being able to trade from my trading platform. TOS is very extensive. The platform has so mby rookie30 - Trading Discussion
Qcharts just raised their prices. Now, I am paying roughly $200 a month. I am GOING TO try another trading platform. I am hearing good things about Think or Swim and Strategy Desk. I would love for someone to give me a little feedback on some of your trading platforms. Please let me know if there are hidden fees associated with your platform. I absolutely love Qcharts, but there comes a timby rookie30 - Trading Discussion
My trades are quick. I am almost always out by the end of the day. I simply do not wait on a pullback. I have tried waiting on the pull back, but I have left hundreds of dollars on the table. Now, I enter when the trade presents itself. I have found that sometimes the pullback can be presented, but in reality, it is an early reversal signal. I know most of you are saying, "learn how tby rookie30 - Trading Discussion
Darcy, thanks for the charting tip. I am actually practicing by using the chart parameters you talked about. Unfortunately, I was not one of the chosen recipients of Gary's Chart. I have no idea what that is, but I assume it is a big key to accurately identifying trades. Did you receive those charting parameters in advanced training? Once again, I think I am going to pull back from "reaby rookie30 - Trading Discussion
Darcy, Thanks... I read your previous post the same as I read and try to interpret GW's information. I just gotta stay humble and calm. I am more interested in managing my losses and not as excited about wins. IMost importantly, I can never forget how it felt to lose my entire basket! I want to avoid that mistake.by rookie30 - Trading Discussion
I knocked one out of the park today on CF. I only bought 4 In The Money Put contracts. Take a look at the HRFP on the 233 ( 12/12/12). Then take a look at that HRFP on the 55. Now, take a look at the 8. I placed my trade at about 9:48. I sold at 3:40. I picked up over $5 despite the Dow being in the green and NAS in green. Those HRFP's on the 55 and 233 were looking too strong. On both cby rookie30 - Trading Discussion
Darcy, It is so crazy that your significant other trades that way. That is the way I trade!!! I try not to admit it to anyone because rules are broken and I do not like to promote trading against WSB, but I do well with it. I have multiple trades in a week. We are taught 5-10. I shared with someone on a private message that I traded 4 txs last week. 2 big wins, 1 huge win (best YTD), andby rookie30 - Trading Discussion
I really hope some of you are riding with me on this AAPL truck. It is a gravy train right now- if you know how to trade it. I was holding it from yesterday, so I was able to RIDE AAPL down $28! I nearly doubled my basket in a single trade. This trade has surpassed my largest real money trade. I am finished for the week. I will humble myself down and trade again later. My head is too big rby rookie30 - Trading Discussion
I just read the very, very short pamphlet "7 Chart Patterns That Consistently Make Money". I was a little shocked that the book was so short. Ironically, playing gaps is my next approach to practice. The examples used in the book were very simple and easy to follow. It was a very short and elementary read for me, but I still learned a little something from it. I have 4 other books cby rookie30 - Trading Discussion
For new traders, this market is a "Beast". Well, it is also tough for some intermediate traders as well. Many of you know I have been trading real money for only about 5 months. Over a year ago, I went though WSB and started trading 3 months later. Well, I initially built my basket from $2500 to over $7000 in the course of a couple of months. One month later I lost it all. I was spenby rookie30 - Trading Discussion
Days like today makes trading all worth it. I bought 2 contract of Apple today. I nearly doubled my money! Real Money. Since I watch Apple everyday, I know when it is going to run up or down very aggressively. understand, I am not being cocky. There are clear signs that point to strong movement in some stocks. This one is pretty easy from that standpoint. I will most likely watch it tomorroby rookie30 - Trading Discussion