no name trading

This is a discussion on no name trading within the Trading Journals forums, part of the Reception category; Hello! My name is Alex and i have decided to try out daytrading. Let's see what can i do with ...

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Old Jun 7, 2018, 11:02am   #1
 
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Joined Jun 2018
no name trading

Hello!

My name is Alex and i have decided to try out daytrading. Let's see what can i do with that from the position "beginner".

Start with:
*I have given myself 6k$ for this risky idea that i am OK to lose;
*I'll try to trade on US stock market;

Trading strategy, style and the rest will come through working out why i failed/succeeded in each trade that i hope to post here. Also, i do not chase any 'gurus', their courses or whatever they sell. The point is to try to do it by myself.

However, i have some 'starting rules' that might be modified later on:
*Initial position is 100 sh. without an option of "buy more" ;
*Trade stocks in range of 20$ - 100$ ;
*Don't trade first and last 30 min. of open market;
*Don't trade pre/post market;
*Stop is in range of 0,2-0,3$ with position closeout at 0,8$+
*Max. 4 trades per day or 3 sequential lose trades;
*If 4 days are red in a row, then i do not trade fifth;
*Do not trade stocks with avg share traded above 10kk or less than 400k volume per day;
*Do not trade ETFs, ADRs;

Daytrading starts this week, so, have fun to read and follow my path. At least, it can be a marvelous dump of 6k$
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Old Jun 8, 2018, 10:02am   #2
 
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Joined Jun 2018
nor_trading started this thread Okay guys,

platform is ready, cash is funded (more than need to avoid pdt rule), even some hot keys are set:

*buy limit bid
*sell limit ask
*buy market
*sell market
*stop sell 0,3$ lower the avg price
*stop buy 0,3$ above the avg price
*cancel all orders for a stock

I believe we could start with this. If you think i need more keys or reduce current hot buttons - please, feel free to white here
So, today is going to be a 1st day of trading and yeah, i know that Friday is not the best day to start and maybe it is going to be a loss, BUT it is not about money for now.. for now it is all about correct decision making, creating the logic why i have shorted/went long etc. and of course check hot hot keys and platform work overall.

What i'll be looking for: today i ll watch SPY as market often goes in that direction. I have been watching market for a month and pretty often even "positive" earnings were beaten by the market overall direction. I'll watch out 277,8 and 277 and 276,4 levels for SPY and hope to see some intraday gapers to look for entry point. I believe that my entry point is going to be based on how much risk i want to carry. As mentioned above - it is 0,2-0,3$ for stop orders, so i need to look for that entry point
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