Recent content by Traderesq

As a discretionary day trader ideally you want to be skilled at both in order to put yourself in the best risk-reward scenarios. Although some experienced traders can definitely do well with just one or the other, it shouldn't really be an either/or type of thing. Charts are extremely important too.

It honestly took me about 18 months of watching the Level 2 daily in order to 'get it' on an advanced level. You can maybe pay for courses that can shorten this time a lot, but I think it is kind of just a matter of watching enough Level 2s for different kinds of stocks in different kinds of...

I don't have any experience with FX trading, but for those interested in learning stock day trading I think it can be very good to only do paper trading for at least the first 12-18 months, then spend another 6 months trading for real but with small size, and only then if consistently profitable...

Which 2 stocks have you focused on?

Some brokers support this order type but other do not. It's often called a "Bracket Order" or "One Cancels Another" (OCA) order or "One Cancels The Other" (OCO) order.

Wow, that's awesome! I'm currently just using 2 monitors. I use one just for charts and order execution and then the other primarily for running live stock scans with StockVision. I might get a 3rd monitor though for additional chart space.

Looks interesting. Do you know who their clearing firm is?

Nice job! What stocks did you go with?

It's very doable to make nice consistent money each month but I definitely wouldn't label it as 'easy.' Rarely can you do it without a lot of work either actively trading each day or developing and testing auto-trading strategies. The bonus is that If you're very passionate about trading then...

I think the best approach would be to pick an instrument, download a simulation trading program, and right away just start trading in 1-2 time frames and see how you do. I think beginning with the stock market can be good since it's very simple and you can paper trade stocks and ETFs at the same...

As an active day trader I look at the charts (which contain technical analysis indicators) of what I'm trading nearly constantly while the market is open. Once you've been closely watching stocks move intraday for several months you can process technical analysis data extremely quickly. If the...

I think you can get a rough estimate simply by plotting volume bars on a chart with a very low frequency (maybe a 0.5-minute chart, a 0.25-minute chart, or Tick chart). Also keep in mind that if a huge number of shares are traded on the bid price without the price moving down, it might instead...

Some stocks historically respond much better to moving average-based signals than others. It can be good to use moving average strategies more on those stocks than others. For example, I've recently been playing around with parameter "MACD Reliability" in the stock screening program StockVision.

My personal definition is if I'm only looking for ≤ +1% max from a winning trade.

Where you exit can often be the difference between being a losing trader vs. a winning trader. But when you also focus on getting good entries you can make a lot more money (especially in the current environment rife with high-frequency trading strategies).