another day, the beat goes on.
200 and 300 share positions.
Not gonna de-rail my own thread, but trading stocks feels a lot easier.
one day
another day, the beat goes on.
200 and 300 share positions.
Not gonna de-rail my own thread, but trading stocks feels a lot easier.
one day
wackypete2
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This has been my opinion for many years. The problem for new traders (US traders) is the $25,000 account size, and the PDT rule. The problem for experienced traders is the low leverage available compared to other markets.
Peter
Absolutely. Hence my
in the earlier post, as im unlikely to have 25k to invest into a trading account any time in the future.I actually done this (demo trading US stocks) about 3 years ago for a few months and ended up nicely most days. I basically stopped because felt like I was torturing myself (a little like im doing now) making pretend money everyday, knowing i'll never be likely to be able to actually do it for real! lol
So you also found stocks much easier? Strange. Do you stick with FX due to the leverage then?
Forex is obviously the big thing on most forums (and what i'll have to revert back to very soon to continue to attempt to grow my little smartlive account)
I spend time at elitetrader where there is a pnl thread. Practically ALL of the guys who make a few K every single day trade stocks. Obvioulsy im in direct contact with Grey1 who makes a good few K per day and he also only trades stocks. There are others, but I only count the guys who I know for CERTAIN are the real deal and not just out to scam people.
Credit card loan??
I'd better not. Although im gonna carry on practicing the stocks alongside my real FX trades and if i get months and months of consistency, I might look at my options, lolahhh..couple of small trades on my smarlive account, but they totally cant deal with any volatility when news comes out and you cant place orders for like 15 mins until everything settles down, lol.
Driving me nuts.
Gonna only use them for longer term trading now I think. They cant cope otherwise
Driving me nuts.
Gonna only use them for longer term trading now I think. They cant cope otherwise
wackypete2
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In my opinion forex takes a bit extra time, patience, and effort, but the better leverage available makes the potential reward much more enticing. Of course it's easy to overleverage and blow up so I'm NOT recommending doing that. Also, forex is a 24 hour market so you can trade different sessions if there is enough volatilty.
Peter
Hiya Redart
I see that you're UK based. Doesnt that mean you can spread bet stocks using leverage so the 25k requirement does not really apply? Spread betting stocks and FX seems no different to me in terms of the capital involved. In fact over longer tfs stocks actually offer the ability to have tighter stops relative to the stake/pip (Or am I missing something??) I know you intraday trade, but for me as a 4hr/Daily tf trader my attraction to FX rather than stocks is not capital-related but down to the overnight gap potential - I find that a tad worrysome .....
I see that you're UK based. Doesnt that mean you can spread bet stocks using leverage so the 25k requirement does not really apply? Spread betting stocks and FX seems no different to me in terms of the capital involved. In fact over longer tfs stocks actually offer the ability to have tighter stops relative to the stake/pip (Or am I missing something??) I know you intraday trade, but for me as a 4hr/Daily tf trader my attraction to FX rather than stocks is not capital-related but down to the overnight gap potential - I find that a tad worrysome .....
Absolutely. Hence my
I actually done this (demo trading US stocks) about 3 years ago for a few months and ended up nicely most days. I basically stopped because felt like I was torturing myself (a little like im doing now) making pretend money everyday, knowing i'll never be likely to be able to actually do it for real! lol
So you also found stocks much easier? Strange. Do you stick with FX due to the leverage then?
Forex is obviously the big thing on most forums (and what i'll have to revert back to very soon to continue to attempt to grow my little smartlive account)
I spend time at elitetrader where there is a pnl thread. Practically ALL of the guys who make a few K every single day trade stocks. Obvioulsy im in direct contact with Grey1 who makes a good few K per day and he also only trades stocks. There are others, but I only count the guys who I know for CERTAIN are the real deal and not just out to scam people.
Credit card loan??
Hiya Redart
I see that you're UK based. Doesnt that mean you can spread bet stocks using leverage so the 25k requirement does not really apply? Spread betting stocks and FX seems no different to me in terms of the capital involved. In fact over longer tfs stocks actually offer the ability to have tighter stops relative to the stake/pip (Or am I missing something??) I know you intraday trade, but for me as a 4hr/Daily tf trader my attraction to FX rather than stocks is not capital-related but down to the overnight gap potential - I find that a tad worrysome .....
Yes, I wouldn't feel particularly comfortable swing trading stocks (either spreabet or Directaccess) due to the risk of gaps, as you say.
Unfortunately, my experience has been very negative with EVERY spreadbet firm (and ive been with 'em all!) when it comes to daytrading stocks.
The HUGE spreads (some stocks can have a 1c spread on the 'real' market and a 14c spread with a spreadbet firm). Its a huge difference and would greatly affect the results ive been having with a demo Direct access account.
They also tend to be slower in filling trades on stocks than they are on things like fx and indicies. This was worse with CMC. It was as though I was the only person on their books trading a particular stock, and it was like they were checking the price of the stock for 15 seconds to make sure they were upto date and I wasn't trying to pull a fast one, before they'd fill the trade.
There's also the issue of certain stocks not being quoted by spreadbet firms.
Often im wishing to trade stocks that aren't listed by Smartlive (who actually quote more stocks than other spreadbet firms i've been with)
It just isn't really feasable, unfortunately.
If I had 25k I definitely trade stocks with a direct access broker. It's MUCH easier in my experience. But I dont, so im just gonna have to carry on as I am and see if I can make anythingg trading FX.
Cheers
Not sure of your trading approach but is it TA based, and if so why cant it be applied to FX?
Dont know, really.
Yes, id call it TA based.
It's a mixture of the TA that i've 'narrowed down to' over the years, combined with some concepts that i've learnt from spending time with Grey1 who some of you may be aware of.
I guess the main differnece might be that with stocks, being that i've got thousands to choose from, I can usually find something that qualifies for a trade.
Been side-tracked from the £350 smartlive account by the demo trading on US stocks, but been doing a little more 10p per point trading recently and the account is now upto about £525 from the £350 it began at.
Is there any way in metatrader to chart your equity rather than your balance in the 'detailed report'?
Is there any way in metatrader to chart your equity rather than your balance in the 'detailed report'?
Upto £538 after last nights trading.
Also demo traded my 'true love' (US stocks) again last night.
Worst day in ages, but still ended up about $80 trading the usual 200-300 lots shares. Seems too easy!
Im considering going to a firm like Alliance where you can trade without PDT restrictions.
I take it nobody here has ever used them (being that basically nobody trades stocks on this forum)
cheers
Another winning day with the demo stocks. 1 losing day in about 15 so far I think trading stocks
+$277 trading mainly 100 and 200 share lots.
What are commissions like nowadays in gerenal?
Are they still 1c per share?
So i've traded 11 positions, 200 shares at a time, so commissions would be about $44??
Crap day with my real trading unfotunately, lol.
Was maybe too sidetracked by my demo stocks trading funnily enough! lol
This journal seems to have shifted from my LIVE smartlive account £350 starting balance, to trying to get consistency daytrading stocks on the demo...hmmm
+$277 trading mainly 100 and 200 share lots.
What are commissions like nowadays in gerenal?
Are they still 1c per share?
So i've traded 11 positions, 200 shares at a time, so commissions would be about $44??
Crap day with my real trading unfotunately, lol.
Was maybe too sidetracked by my demo stocks trading funnily enough! lol
This journal seems to have shifted from my LIVE smartlive account £350 starting balance, to trying to get consistency daytrading stocks on the demo...hmmm
Attachments
2ND TARGET ACCHIEVED.
Started trading again a few weeks ago after a little break of mainly only concentrating on my demo STOCK trading.
Thought i better get back to it.
the £350 smartlive account now sits at a whopping £550
(wont post a statement because it was hassle last time, not to mention that MT4 only charts the 'balance' rather than the 'equity' which annoys me greatly)
Have to think about my next plan of action.
Cheers
