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Capitalist Exploits Reddit - Capitalist Exploits Review

Today we'll take a look at something very fascinating named Capitalist Exploits. What is Capitalist Exploits? Who is it for and might it be something for you? These are some of the main questions this quick review will assist you answer!
Product: Capitalist Exploits
Website: www.capitalistexploits.at
Owner: Chris MacIntosh
Price: Free membership
Who is it for: Investors from all backgrounds
Overall rating: 4.9 out of 5 stars (4.9 / 5)
What is Capitalist Exploits?
Capitalist Exploits is, in short, a popular e-newsletter that has a subscriber base of over 20,000 investors, hedge funds, professional cash managers, and many other clever investors worldwide. It presents you with insider tips and additionally international buying and selling “signals and calls” that you might choose to use yourself to maximize incomes potential, and more importantly reduce your risks of loss.
The carrier is all info, there is no software that will exchange for you or anything like that. You are going to have to open your very own brokerage account to perform trades that are counseled to you.
Capitalist Exploits Reddit - Details
The service is incredibly praised by revered and very successful buyers and has also been featured in Business Insider, Market Watch, etc:
It is a special service amongst the many “similar” services out there, however, Capitalist Exploits separates themselves from their friends with their “investing service constructed for this moment in history” approach. Simply put, their carrier is providing a answer to the need for seeing thru the “unstable” times we are in, with political and financial destruction between nations, and to know what strikes need to be achieved in order to not get misplaced in the financial storm…
Visit Capitalist Eploits website here
Who is the owner?
For these of you who do not know, Chris is about as legit an investor as you can get.
Here’s his story in 6 bullets:
He is one of these rare cash managers that are entrepreneurial, he’s one of the sharpest guys you’ll ever meet, and he has one hell of an impressive network.
The actual deal. Not some manufactured guru, the likes of which litter the internet everywhere.
How does it work?
In short, the Capitalist Exploits internet site is a meeting area for investors, below is an precise excerpt from the About page on the website:
"So on this website online you will find some of the techniques used by myself and these of my close colleagues, many of whom are family names in the investment business, and nevertheless others who keep a an awful lot lower profile. These are techniques which have led to my own admittedly excellent and often stunning (for me) successes. In addition I cover some of the classes learned from collective failures, in the hope that I don’t repeat them and you by no means trial them.
As you can tell by way of now, I’m first and foremost an investor. My faith is that it is more necessary than ever to keep our eyes open to possibilities all over the world in order to succeed in the difficult economic and political surroundings we live in.
My funding agenda is very simple: to find a domestic for my capital to earn the best feasible return."
Products and Services offered? First of all, there is a lot of free info for participants to take part in, and the membership is free. SIGN UP FOR THE FREE NEWSLETTER HERE
However, if you favor to go deep and potentially be very profitable then there are 2 predominant services presented to you.
Insider and Resource Insider, which is a service for extra sophisticated traders who want the great deals that exist in the mining and metals space.
The free fabric consists of things like:
Consistent evaluation of asymmetric possibilities to help you navigate the very distorted markets of today
Different hyperlinks to related buying and selling services (recommended brokers, readings and how to create offshore entities, etc.
And greater supporting and academic material.
Join for free - you can upgrade any time.
The INSIDER material consists of matters like: Trade Alerts (Get email and/or SMS indicators on “Hot trades” that the pros are doing so you can do the same Existing Portfolio (A listing of all “buy-rated” alerts and data on when the service is closing the trades).
Investor Forum (Connect with like-minded in the insider chat room the place more than 450 individuals are active.
Newsletter (One time per week you will get a review of the precise trades and opportunities the insiders are searching at, there is also some bonus pointers shared to you here.
Live Q&A – Live webinar with Chris where you get the threat to ask your questions live Video Insights Database (Get access to over 300 movies that answer questions on investing.
Educational Resources (A vast selection of beneficial reports and step-by-step courses on different alternate topics from A-Z (Includes Bitcoin trading).
Access to Guru (The identify says it all, this is your customer provider function that approves you to get access to Chris and others in the staff.
The membership charge is $1,575 per year as lengthy as you want to continue to be a member.
The RESOURCE Insider material consists of matters like:
Service targeted for permitted investors with at least a internet worth of one million dollars.
Access to the most thrilling private deals in mining and energy gold, uranium, you name it! Here you will get all kinds of commodities and resource possibilities delivered to you.
Private Placement Deals (You will be provided with at least 10 personal placement investment choices per year, each deal will have a minimal investment vary between $2,000-$10,000).
Insider Ideas (Get access to a lot of economic and technical research, bonus stock picks, special content in popular and site go to reports.
Networking Opportunities (Make connections with like-minded, and when you are part of a neighborhood of people like you, authorised investors with comparable goals then you acquired a new network that is accurate for all involved).
Access to the service specialists (As with the Insider membership you got direct get entry to to both Chris and Jamie Keech, the two provider gurus. They promise that members will see fantastic benefits from them each and connect with their networks as well.
The membership charge is $3,499 per year for as lengthy as you want to remain a member.
30 Day FULL Money Back Guarantee.
Yes, that is right, you are backed by a full, no questions requested guarantee. So, if you for some reason would now not be happy with your membership and carrier you get you will get your full investment again with no questions asked. That is how confident Chris is that you will recognize the service.
This is, of course, a big plus (at least in my book) and some thing that I respect a lot, as many comparable services do now not offer this kind of guarantees. It really says a lot about the great if you ask me, as the owner (Chris) is very confident, and stands at the back of his own product to a hundred percent.
Is Capitalist Exploits a Scam?
So, is Capitalist Exploits a Scam? No, of direction not, it is not a scam. It has a actual physical proprietor that doesn´t hide, but as an alternative stands behind his product to a one hundred percent and that is almost constantly what separates a scam provider from a real and legit one.
Capitalist Exploits is not only a legit service, however it also looks like a very good one. This leads us to what their customers have to say about them:
Reviews, ratings, and complaints on Capitalist Exploits It is always sensible (and recommended) to look at what the most ordinary and trusted evaluate and rating websites have to say about something you are involved in, to get a better ordinary picture of the excellent of the particular service.
Sign up for the free newsletter: CLICK HERE.
submitted by kayakero to CapitalistExploits [link] [comments]

My expiriences with crypto exchange Kraken.

So when learning about trading it is logical that first several years will yield more losses than profits. So far so that most traders suggest that your starting portfolio shouldn't be larger what you are willing to throw away.
So in September I joined Kraken, with ~100 EUR in LTC/BTC currency. And of course I lost 30 % in first week due to me getting accustomed with GUI , charts, SMA/EMAand etc while learning about analysis and losing in value to falling market.
Then drop of 8500-7500 happened in second week of September, and I accidentally shortened the BTC. Which was lucky but I contacted support team to explain to me what I have done. They were (generally are) polite and pointed me to the webinar that was supposed to be held on 6th November.
I closed the short position on 8th of October (classic FOMO) , got long and canceled that on October 10-11. So far I was up 5 EUR and down 3 (long was on higher leverage). So I shortened it again and waited. On 18th October I have just learned about stop-loss and take-profit and I placed it on 10 EUR above current price at the time.
Now you might hear ominous bells in the background as we approach the 25-th and 26-st October. So on that fated day, price busted trough my stop loss and locked me out of making any trade. I was in hell (figuratively) watching how I was loosing 20+ EUR not being able to do anything.
Once dust has settled and I have cut my losses (on 27-nth) , I decided to contact support team again to notify them that I was locked out of trading in order for them to fix any issues they might've been experiencing. They were nice and pleasant, and told me next time that happens to refresh my browser, clear my cookies, click sync bunch of times, log off and on, refresh tab on my browser, exit my browser and restart it again and restart my computer. And then kind people from support team (they were changing every 15 minutes, while I had to explain everything from the start) made me an technical support ticket and sent them to their trading support team[tsm].
There came 28th October, and I started new long position since I was under false influence that China or whatever will bounce bitcoin back to 10 K. I was mostly driven by replenishing the loses (at least 20 EUR one ) - NEVER TRADE ON EMOTION... this was my big mistake.
Then on 29th October, the lock down happened again. And after doing all steps they listed earlier - with no change whatsoever - I contacted the support team once again. They repeated the steps I have already done, and generated new ticket to trading support team. when I asked them what is the status of my previous ticket - they have told me that someone will get in touch with me soon.
My next mistake was trying to rustle with the market instead of waiting for response of tsm. I went down to 35 EUR till end of the October.
The webinar wasn't held, and response I got was to try "refresh my browser, clear my cookies, click sync bunch of times, log off and on, refresh tab on my browser, exit my browser and restart it again and restart my computer." and let them know if it doesn't start in half of an hour. It didn't, they apologized... no harm no foul. Soon after that (couple of days) John from tsm contacted me telling me I need to give him screen shot next time that happens, and on 3rd November it happened again. So I made screenshot and cropped the picture to show the issue and sent it to him. Keith replied next day that telling me that he needs it timestamped (although they have access to my ledger and every picture has binary date time block in their binary code ) , on which I told him that each picture is timestamped in binary. And if that happened again could I be refunded, and if I couldn't be refunded I would then write an review , forward all data to California state or ask for an refund.
Next two days no response. Then It happened again, I made screen shots of my phone (with date and time clearly visible) and asked him what is his response on refund part. And Maximus responed me with
I have gone to our dev's regarding your Rate Limitation Error. Every action taken on Kraken Pro (adding/closing/cancelling orders + retrieve balance (Sync)) is hitting the API. If too many actions are taken in a short period of time and you’ll receive this error and be temporarily locked out until you recover “points or allowance”.
I'm sorry for your frustration. Our Kraken Interface at kraken.com might be more suitable to your style of trading.
Then I asked again about refunds, and person who introduced himself as Kevin(later signed as Maximus) told me :
Kraken does not take the other side of your trade ans as such does not refund or reimburse for trades.
I copied whole ledger, and tried to withdraw my funds (with no luck ) and tried to trade in order to increase my funds so I can withdraw them and leave the hell hole that is their platform. And to no ones surprise I have lost 10 EUR till then. And interface on kraken.com that didn't help at all. Timed bid executed immediately on market price (instead of limit) with taker fees, stop losses executed randomly ... and etc.
Then I was locked out again, my short position order was filled, but my position held 0.00065 btc instead of 0.013 btc, I contacted the support yet again , where after Andrew replaced Maxima an phantom order (which I didn't fill) canceling the difference of 0.01235 btc appeared before my eyes. Andrew tried to submit new ticket to technical suport team, and when I asked him for their names... Andrew refused to tell me, mentioning that I have been in contact with them (Maximus, John, Kevin, Keith .... and of course Kevin Maximus). On which I finally saw where this was going, persuaded Andrew to withdraw my funds and left the fucking website.
If you are using Kraken, don't. I was extremely stupid hanging on trough all that stuff. Leave it and go to another. Americans especially, after some data analysis the API calls jump 2 hours before American time zones, and diminish 10 hours later.
submitted by ArchDan to Bitcoin [link] [comments]

General info and list of exchanges for WeToken

OUR EXPERIENCE
2016 HotSpot company
2017 Advertising agency focused on Wi-Fi advertising
2018 Decentralised free Wi-Fi network based on blockchain technology Our existing projects Adrenta and Radius Wi-Fi are focused on Wi-Fi advertising in public areas. As of today, Adrenta network accounts for more than 14 000 open networks and over 100 franchise partners. The companies operate in 80 cities and have more than 100 employees. The increase in the number of our Wi-Fi access points in 2017 was 784%.
80 cities
100 partners
100 employees
14K open networks
WITH OUR ANTENNAS YOUR ROUTER WILL EARN UP TO 5 TIMES MORE!
World Wi-Fi has created antennas that focus the signal, guarantee the high-quality uniform Wi-Fi coverage of a given area and are compatible with a wide range of Wi-Fi routers.
Built with the most cutting-edge technologies in the field, these antennas direct the Wi-Fi signal, providing stable Wi-Fi.
World Wi-Fi antennas are:
compact equipped with different mounting structures suitable for using inside, for instance in offices suitable for outside The devices underwent rigorous lab testings.
WORLD WIFI ROADMAP 1 August 2017 – December 2017 Development completion of project’s prototype. Development of smart contract, financial and marketing plans. Inviting additional team members in big data, marketing and financial management. 2 December 2017 – April 2018 Start of fund raising campaign (PRE-SALE stage). Alpha testing completion of the platform. Launch of WORLD WI-FI marketing campaign. 3 April 2018 – May 2018 Run of TOKEN SALE and completion of fund raising campaign. 4 April 2018 Beta testing launch of WORLD WI-FI platform. Referral program launch. 5 May 2018 – June 2018 Completion of beta-testing. Official release of the WORLD WI-FI platform. Start of international information campaign to invite users and advertisers. Listing of WeToken at the exchanges. 6 June 2018 Completion of developing the software for all main models of private routers. Listing of WeToken at major exchanges. 7 August 2018 – March 2019 Launch of mobile device application. New modification and adding new functions to the WORLD WI-FI platform. Opening of the representative office in San Francisco. Reaching 150 000 000 ad impressions per day and 3 million of active routers. 8 March 2019 – December 2019 Holding three conferences for our partners and advertisers. Inviting new partners, new community members and advertisers. Reaching 400 000 000 ad impressions per day and 8 million of active routers. 9 December 2019 – March 2021 Expanding into major areas of the world: America, Asia, Europe and Australia. Inviting major international advertising networks. Reaching 1 000 000 000 ad impressions per day and 20 million of active routers. WORLD WIFI PROJECT DEVELOPMENT DEPLOYMENT OF WI-FI NETWORK ON A REGIONAL BASIS BY THE AMOUNTS RECEIVED IN TOKEN SALE
$ 3 500 000 EASTERN AND CENTRAL EUROPE
$ 6 500 000 EASTERN, CENTRAL, WESTERN AND NORTHERN EUROPE
$ 8 100 000 EASTERN, CENTRAL, WESTERN, SOUTHERN AND NORTHERN EUROPE, WESTERN ASIA
$ 10 000 000 EASTERN, CENTRAL, WESTERN, SOUTHERN AND NORTHERN EUROPE AND WESTERN AND SOUTH-EAST ASIA
$ 15 500 000 EASTERN, CENTRAL, WESTERN, SOUTHERN ND NORTHERN EUROPE AND WESTERN, EAST AND SOUTH-EAST ASIA
$ 20 600 000 EASTERN, CENTRAL, WESTERN, SOUTHERN AND NORTHERN EUROPE AND WESTERN, EAST AND SOUTH-EAST ASIA AND NORTH AMERICA
$ 25 000 000 EASTERN, CENTRAL, WESTERN, SOUTHERN AND NORTHERN EUROPE AND WESTERN, EAST AND SOUTH-EAST ASIA, AMERICAS AND AUSTRALIA WORLD WIFI TOKEN DISTRIBUTION TOKEN DISTRIBUTION PRE-SALE, TOKEN SALE 43% FUTURE DEVELOPMENT 40% FROZEN FOR 1-5 YEARS FOUNDERS 7% FROZEN FOR 1 YEAR TEAM 5% ADVISERS 3% BOUNTY 2% WORLD WIFI COST STRUCTURE COST STRUCTURE ADVERTISING AND MARKETING 39.5% EXPENSES FOR AGENT NETWORK 25.5% Engaging and training agents (webinars, trainings), advertising / exhibition materials, technical support RESEARCH & DEVELOPMENT 24.4% Developing firmware for all existing models of Wi-Fi routers, upgrading the existing firmware, the DEAL protocol and other elements of the blockchain platform, enhancing capabilities for ad targeting EXPENSES FOR BUILDING B2B NETWORK 6.4% EXPENSESES ON SOFTWARE AND HARDWARE 2.4% PAYROLL 1.3% ADMINISTRATIVE EXPENSES 0.5% WORLD WIFI ADVISERS
Christel Quek Adviser Business Insider as one of the 30 best executives to follow on Twitter. Christel is a technology executive who has built brands and digital businesses since the advent of the digital economy. She was the Head of Content at Twitter across their International Markets, and led Social Business for Samsung Asia. Christel was selected by The Guardian as one of the top global digital strategists, Campaign Asia-Pacific as a Woman to Watch. Was an Advisor in Zilliqa one of the best ICO in 2018.
Dmitry Dain Adviser, one of the first developers of 802.11 Wi-Fi Protocol Adviser, one of the first developers of 802.11 Wi-Fi Protocol Member of the world's cryptographers' association. Founder of 'Virgil Security' (USA), a company specializing in cryptography and encryption.
Fred Ledbetter Adviser, executive in largest Telecom operators CEO Imaginet/Czech Telecom, CCO Virgin Connect, CMO Golden Telecom – executive management in WiFi, Internet, wireless, broadband and mobile in large and medium firms and start ups.
Thierry De Gorter Adviser Has a Princeton University degree in corporate finance. Fascination by modern fin tech, lead him to the deep commitment to the blockchain technology. Currently advising and developing decentralized infrastructure projects. Thierry is bitcoin enthusiast and philanthropist.
Yagub Rahimov Media Adviser Yagub Rahimov is serial entrepreneur operating within FinTech ecosystem. Investing since the age of 16, Yagub is an award winning trader and a savvy Crypto/Bitcoin investor since mid-2009. He has a vision that machine learning combined with the Blockchain technology will define the future of the FinTech ecosystem.
Yun Keun LEE Adviser in Korea Republic Journalist in New York, CEO of CLC Biz global marketing and investor, CEO of block chain Internet newspaper 'Daily Coin News', fluent in multiple languages ​​(English, Japanese, Russian, Korean).
Wu Fei Adviser in China Expert at Public Diplomacy, International Communication and International Affairs, just focus on establishing the Sino-Russian ICO and the Block chain Alliance under the framework of the Belt and Road Initiative and the Guangdong, Hong Kong, Macao Bay areas. WORLD WIFI TEAM
Ilya Yashin Co-Founder & CEO The expert in the IT integration sphere, digital economy and a blockchain technologies. The co-founder of two actively developing Adrenta and Radius Wi-fi services. He participated in creation of the IT integrator in Moscow. Considers that a blockchain is the future of sharing-economy.
Vladislav Martynov Сo-Founder ‏Co-founder of Yota Devices (developer of YotaPhone), www.BlockGeeks.com - the largest online platform for teaching blockchain technology and the developer of sports analytics systems www.iceberg.hockey , and head of the Ethereum competence center.
Yan Sepiashvili Co-Founder Entrepreneur, PhD in Medicine, over 10 years in IT, advertising and real estate projects. Managing partner and co-founder of the Adrenta and Radius Wi-Fi services.
Dmitry Koleznev Chief Operation Officer Previously General Director and stock-holder of WorldTelecom.Prior General Director and stock-holder of National Payment System and Delta Telecom.
Larry Cameron Technical Information Security Officer Chief Technology Officer with a proven track record in the information technology industry. Demonstrated skills in working with Data Centers, Systems Architecture, Management, Support and Cyber Security
Alisha Golden Marketing & PR in North America A growth strategist and media maven with 11 years of experience across 3 continents growing and scaling start-ups and brands. Alisha is well versed in investment and mainstream media. Alisha’s clients have been featured in Fast Company, INC, Wired, Forbes, Origin Magazine, ABC news, The Huffington Post, The New York Daily News as well as developed brand partnerships with the likes of silicon valley’s travel, tech giant.
Tim Kosykh CBDO Tech enthusiast and cosmopolite. Founder of a few IT startups in Ireland. Managed multiple technological projects in Europe, Asia, and USA. Believes in technological singularity.
Yury Polovinkin Technical Director Launch of Wi-Fi network in the Moscow Metro. Developed and launched his own hotspot solution. Participated in development and implementation of information systems in major companies.
Anand Gupta Big Data strategy Graduate of the Indian Institute of Technology. Extensive experience in Big Data solutions for Nokia and Mitel
Bhavik Limbani App Developer Master in computer science. Mobile App Developer, Web Developer, Java, Blockchain Developer
Valeriy Belousov Head of Radio Network Development Radiophysicist. Was a head of a special testing laboratory, a service of local and international radio monitoring. Developed the communication and control systems for the Army and Emergency services, the systems for calculating radio propagation. Was a Leading expert in the Higher School of Economics.
Jagadish Channagiri Big Data expert Software Executive with broad experience in product development for Big Data solutions. WORLD WIFI PARTNERS
WORLD WIFI LISTINGS | RATINGS
SILVER PARTNER
STABLE+
PLATINUM STATUS Rating: 97 of 100
PREMIUM STATUS
GOLD STATUS
Rating: 4,67 of 5
Rating: 4,6 of 5
WORLD WIFI BLOG
AMA Session with Ilya Yashin, CEO of World Wi-Fi. 03 July, 2018
World Wi-Fi at CES Asia 2018 14 June, 2018
Vladislav Martynov and Ilya Yashin united AMA session
Ethereum and World Wi-Fi look in the same direction 26 April, 2018
World Wi-Fi at Teamz Business Summit in Tokyo 22/23 March, 2018
Dmitry Dain About WorldWifi Follow us on our YouTube Channel and Medium
WORLD WIFI PRESS
WORLD WIFI FAQ World Wi-Fi is a blockchain platform for setting up a global decentralized free Wi-Fi network linking together mainly home-based routers. Participants of the platform are casual users, router owners and advertisers. Users get free Internet access; router owners receive remuneration from advertisers for the ads viewed by users; advertisers get an efficient tool to reach their target audience and study their advertising campaigns. WORLD WIFI CONTACTS SINGAPORE HEAD OFFICE Marina Bay Financial Centre Tower 1, Level 11, 8 Marina Boulevard, Singapore 018981
RUSSIA, MOSCOW TECHNICAL OFFICE Business center Glass House Lusinovskaya Street 36-1, Moscow 115093
WE INVITE
the advertising agencies and Internet providers / operators to cooperation
Share wi-fi and earn cryptocurrency 비번 9933
Privacy Policy General inquiries [email protected] Cooperation PR [email protected] Legal [email protected] Partners [email protected] Telegram tele @world_wifi
EXCHANGE LIST
Binance
Huobi
Kucoin
Bibox
Qryptos
Satoexchange
BIGone
Bitrue
Bilaxy
Bit-Z
Linkcoin
SECURE WALLET
https://www.ledgerwallet.com/3b59
submitted by icoinformation to WeToken [link] [comments]

How to Pick & Trade the Next Profitable Altcoin: An Insight into What Goes Through my Mind

Abstracted from my blog post. Read the Full Post at: http://alunacrypto.blogspot.nl/2014/02/how-to-pick-trade-next-profitable-altcoin-bitcoin-daytrading.html. And follow me for my latest Bitcoin/Altcoin trading advice on Twitter @onemanatatime (https://twitter.com/onemanatatime).
Introduction
Congratulations on owning some Bitcoins and being a part of this Global Revolution! If you don't already own one, buy one easily from an exchange like Bitstamp.net, Coinbase.com, or from someone near you at Localbitcoins.com. Once you own Bitcoins, you can easily trade them for any available Alternative Cryptocurrency from an altcoin exchange like Cryptsy. I like to use Cryptsy because they have so many available coins, and I also find them to be quite reliable.
So you've been seeing tons of people making money trading Altcoins, while you've been losing tons of Bitcoins buying high and selling low? Whether you're simply frustrated with your "bad luck", or just want to learn more & make more Bitcoins daytrading, I'm here to help! So here's an easy-to-understand guide to picking and trading Bitcoin and Altcoins profitably, and of course, more essential daytrading tips to help us all become profitable cryptocurrency traders.
I know you're all eager to make money, but keep in mind that nothing comes for free and I can only help you so much. Just because you've made 5 good trades doesn't make you a profitable trader, and neither does making 5 bad trades necessarily mean you're a lousy trader. Anyone can flip a coin and see 'heads' 5 times in a row. What we want to look for is consistency, and to do that you'll have to start forming Your Own trading strategy. Before I go on, keep these following points in mind when building up your personal Trading Strategy:
How to Find new Altcoins?
So the first thing is to actually find new altcoins and to read up more about what it has to offer. To begin with, I always browse through the Alternative Currency announcements page on Bitcointalk to see what's popular. All new coins are definitely posted here so you shouldn't miss anything, and since threads with the newest post always appear on top, you usually don't have to look further than 2 pages. Things to look out for include the added value a coin brings (as I'll explain more in the next section), as well as the popularity and virality of the altcoin (i.e. high number of pages in a short time).
Another place to look at is Cryptocointalk where you can find a long list of altcoins available, sorted according to new coins or by algorithm. This list is not completely updated, but is organized much better if you want to find out more about a particular coin.
Secondly, you also want to cross-check your information about these coins on social media sources such as Reddit and Twitter. Start off on...
Read more on my blog at: http://alunacrypto.blogspot.nl/2014/02/how-to-pick-trade-next-profitable-altcoin-bitcoin-daytrading.html
Other topics covered in this post include:
What to Look Out For?
With so many alternatives out there, we really need to be picky when choosing the next altcoin because you don't want to spread yourself too thinly. Firstly, clones of existing ideas/coins are mostly not worth holding for anything more than the short-term. In this sense, there's a few different kinds of coins with their respective leaders in each category, each with their own pros & cons:...
Where to Buy?
When/What's a Good Price to Buy/Sell?
For new altcoins, and especially clones, all you'll need is to find a good price to buy, since there's no charts for you to do any TA yet. I found a pretty useful formula for calculating a fair price, and have found it to be pretty accurate. Use it, let me know what you think about it, and how we can improve it to apply to different coin types etc. by Tweeting me or leaving a comment below.
Here's the Secret Formula to calculate a Fair Price for new altcoins: (Maximum BTC Supply ÷ Maximum Altcoin Supply) ÷ 5000to10000. #crystalball
How to Trade?
Obviously, the most important rule in trading is to "buy low sell high". Unfortunately, that's usually harder to execute than it sounds because of panic and greed. Haven't you learn enough from bubbles? Whatever goes up must come down. Markets will always look for a correction after a big spike. Don't chase the bubble! EVERY parabolic curve/rise is a bubble, and a chance for you to sell your altcoins for a profit. Just wait for it and always set sell positions ready to eat up those buys.
https://twitter.com/onemanatatime/status/432542011410104321
Trading Tips
#0: Don't join Pump & Dumps, period. For someone to make money, someone else has to lose. Don't be the one caught with the short end of the stick.
#1: Always trade with a plan. Before entering a trade, plan not only your entry but also your exit. Don't fall into the trap of panic buying/selling. Once you get over that, everything will start to come together.
#2: Discipline. Be patient and wait for good setups. Plenty of opportunity everyday, don't spread too thin. On a side note, I can't wait for a margin platform for altcoins to be built. If you're building one, hit me up and let see how we can work together (I'm a Business Development and Online Marketing Major).
#3: Money management. Don't spend more than 5-10% of your entire BTC portfolio on a single Altcoin, unless you're damn sure it's gonna be profitable in the mid-long term.
#4: Understand human psychology. Here's a good 5 part series to get you started: http://www.youtube.com/watch?v=xEcZQdCEiKE
Most Common Pitfalls
1) Placing too much importance on:
2) Overtrading. I'll let the guy whom I learnt all my Bitcoin trading fundamentals from speak about this: Bitcoin Trading Webinar - How To Make Money Trading Bitcoin (http://www.youtube.com/watch?v=oJ-xROFn0zg). Follow him on Twitter @ChrisDunnTV (https://twitter.com/ChrisDunnTV). Long video, but worth it especially for beginners.
3) Not having a plan beforehand. I can't emphasize this enough. Many people jump into buying an altcoin without thinking about their exit plan. What is your target, when you do sell and take profit, when do you sell and cut losses, or do you have more funds/positions ready to buy more if it continues to dip? Are you holding this for the short term or long term? These are all important questions to ask yourself before making a trade. If you don't have a sound and comfortable strategy before entering trades, more likely than not, you're going to end up losing Bitcoins over the (not so) long run.
4) Trying to predict a bottom/top. Nobody can predict exactly where the price is going next, only a better and more informed guess. I personally think this is the toughest problem to tackle, because when greed takes over, you always think "I could have made so much more if only I sold higher or bought lower".
5) Chasing the bubble. What goes up must come down. https://twitter.com/onemanatatime/statuses/432546827196305408
6) Getting emotionally attached to a particular altcoin. I have to admit this is still a problem for me, and I'm still holding onto bags of WDC, ZET, EAC, MSC, that are currently unprofitable. I bought them earlier on, and didn't take profits from the bubbles. But most important thing is that we learn from our mistakes, and that's why I now like to sell some positions to get into a position to "freeroll".
7) Using Technical Analysis as the sole determinant for making trades. Every indicator is useless - by itself. The market is not stagnant, and prices are affected by everything we can, and cannot think of. Don't be bound by one system of analysis; use every single piece of information you can find, and objectively analyze the markets with a bird's eye view.
My Cryptocurrency Trading Strategy
Firstly, I must emphasize that I'm VERY Bullish on Bitcoin for the Long Term. I've invested every single FIAT dollar I have into Cryptocurrencies since November 2013, and I literally have to start selling Bitcoins 2 months later to pay my rent (or wait for a Bitcoin ATM to appear here). Because of this, I spend a ton of time & effort researching Bitcoin and Altcoins to constantly look for ways to grow my number of Bitcoins. I also have a high risk propensity and so not all my trades will be comfortable for you. My point basically is that nobody's situation is exactly the same, so keep in mind that you'll have to build your own strategy to suit your personal needs, risk preference, available resources, and environment...
My Current Altcoin Watchlist
Long Term:
Mid Term:
Others (Not so impressive but still watching):
Cryptocoinchart.info recently launched a new Social Trading feature; Investment Club. Pretty cool. Check it out: http://www.cryptocoincharts.info/v2/investment_club. Don't forget to stop by periodically and bookmark my Cryptocoinchart Investment Club profile (http://www.cryptocoincharts.info/v2/investment_club/trade12) for updates on which coins I'm eyeing/buying.
Frequently Asked Questions
1. How do you feel about XYZ coin?
First of all, there are over 100 altcoins out there, so don't expect me to know about every coin. If it's an exactly clone of Bitcoin, Litecoin, or anything already available, chances are, it's not worth either of our time.
Secondly, read my tweets and do your own research (lazy = poor). If its worth mentioning, I probably did mention it. If you can't find it on my timeline because its too cluttered, again, do a Twitter search for the Altcoin and find out what the World has to say about it.
Thirdly, there's 100s of altcoins out there for you to choose from. Don't spread yourself too thin and buy into every possible bottom. Leave the shitcoins to die, and stick to altcoins with a stronger fundamentals.
2. If I'm holding a bag of XYZ coin, should I just wait or sell for a loss now?
Rule #1 of the game: Buy Low Sell High. But obviously easier said than done.
If you think the coin isn't going make it to the mid-term, and want to liquidate them, you have two options. Sell now and take the loss; that's the hardest thing to do, but also what every good traders knows he needs to do. Or if you think the coin has potential, buy more at where you think is a low, so your average buy price drops, and you can liquidate some/all as soon as it bounces back up. Think Martingale (doubling) strategy.
P.S. This post took 5 months of hard work and research, and one full work day (with overtime) to write. Feel free to donate some coins my way or send some altcoins to my Cryptsy Trade Key: 9c1e289981a685bf0b8a4e48bc00b35eb1380afa.
BTC: 16ka98tnhs9fAjWEXRmEWVrPfTEwmr9orV LTC: LW4qr8aSfgTwGuU6uvEjnhNKRyJJR9iUbR
Read the full post on: http://alunacrypto.blogspot.nl/2014/02/how-to-pick-trade-next-profitable-altcoin-bitcoin-daytrading.html
P.P.S. I recently came across an idea of a Cryptocurrency Hedge Fund; form a network/team of crypto traders to synergistically work together and achieve profitable returns. Different teams mining, selling altcoins, buying altcoins, looking for potential entry positions, trading bitcoin etc. If you'd like to discuss the idea, feel free to email me at alvinlee133(at)gmail.com or hit me up on twitter @onemanatatime.
submitted by bakedric3 to CryptoMarkets [link] [comments]

[Table] IamA (newly) full time, self-employed professional day trader. AMA!

Verified? (This bot cannot verify AMAs just yet)
Date: 2014-01-19
Link to submission (Has self-text)
Questions Answers
How many hours a day do you work? How many hours a day do you work? - 6.5 actually trading, and probably another 3-4 doing analysis, scanning, finding stocks for the next day, preparation in the morning, etc.
Are you in front if the screen for the whole trading day? Are you in front if the screen for the whole trading day? - Generally, yes. Unless I have a hot morning at which time I just quit and take the day off and go to the beach!
How do you handle being alone for the whole trading day if you are in front of your screen ask day? How do you handle being alone for the whole trading day if you are in front of your screen ask day? - Well, I talk to a lot of other traders on Skype and/or Google chat, and I try to get out of the house and trade in different locations to keep things interesting. It can get lonely, but I have a lot of friends and have no problem inviting people over to chill while I trade and it benefits them too cause a lot of people want to learn it and sitting here w/ someone doing it full time is a really cool and fun way to learn!
What do you use for analyzing your trade history? What do you use for analyzing your trade history? - www.tradervue.com, and lots and lots of Google doc spreadsheets lol.
However by the end I couldn't handle being alone and stuck in my chair all day. Did you have to cope with any of that? I'm curious as after the last 4 years or so where I've been studying and watching, I feel I've got a nice KISS method. I did 2 months of full time paper trading to see how I did. However by the end I couldn't handle being alone and stuck in my chair all day. Did you have to cope with any of that? - Yes it is definitely an adjustment. I worked in IT so I was pretty much glued to a computer all day anyway, so it wasn't AS much of a change for me, but I do read a lot and hear a lot that day traders start to go crazy after a while just from the lonliness/lack of human interaction. That's why I do things like this Reddit, and my courses that are taught via live webinar though. Keeps me from goin nuts and going postal ... on myself!
If I do go part time how do I keep my life balanced so I can watch the trades closely but not be consumed by them? The Importance of Happiness: Link to justanotherinvestingblog.blogspot.com
What's your P&L ? What's your P&L ? - I try to shoot for a $500-1k gain per day and keep my loss days when they do occur to $250-500. Per trade, I try to risk no more than $200-300 depending on market conditions, and during certain markets I will increase or decrease risk if I feel it is worth it. I also have a detailed risk management plan that I use to make sure if I have a string of losses they are cut to $0 within 3-5 days so I can re-evaluate, and if I have a string of wins, risk increases based on my wins so that I can capitalize when I'm on fire and minimize losses when I am in a slump.
What degree do you have ? What degree do you have ? - I have a bachelors in MIS (unrelated to finance, lol)
Are you interested in HFT ? Are you interested in HFT ? - Not really. As an IT geek I do find it fascinating that there are applications that can scalp all day long and consistently make money over the long term, but I just do not believe that in such a dynamic environment that anything like that is really sustainable. It would just be way too much work for me to try to develop something to trade for me, plus it would take all the fun and challenge out of it!
With how much money did you start ? With how much money did you start ? - I originally started investing with only $1k. I swung that very slowly (up and down) while saving from my job(s) up to about $5k. I then injected another $5k of savings and started getting very serious with trading with around $10k. Then I lost about 50% of that in like 2 months (lol). The whole time I worked full time and saved every penny I could until I had saved up enough to open a PDT (pattern day trading) account with $25k and also became fully immersed in trading talking to other traders and taking a few trading courses here and there to tweak my strategy. Now I trade that account (I keep $26.5k in it and build it up as much as I can each month then withdraw back to $26.5k and that is how I get paid) and I have a small $5k account that I use for swing trades and experimental strategies.
Are you interested in working for big firms (GS, JP, City...) Are you interested in working for big firms (GS, JP, City...) - Not really. I have debated it in the past but I think it is just way more satisfying to do it on my own. Also, I don't want to be part of the firms that everyone complains are corrupt/evil/etc. For me it is more fun and exciting to just trade on my own, and it is more rewarding because if I decide I want a raise I just work harder and trade better and boom! I get a raise!
I'm sure you're familiar with the high failure rate of day traders (80%-98% within two years, depending on your source). Not trying to be an ass, but how us your investing method different than the typical day trader? That's actually a very valid question. My method of picking stocks or buying/selling really is not different at all. What is different is that I have the emotional discipline to cut losses quickly and let my winners run. Most traders that fail, and I have seen many come and go even across the very few years I've been doing this, fail because they do not cut losses quickly and they are not good risk managers. I have always been frugal and very cautious with my money, and I am the same when I trade.
I trade very systematically, and analyze everything I do with statistical analysis so I always know the stats between each type of pattern I trade. For example, if you look on my tradervue link in the OP, you'll see tags like IFB (intraday flag break), IBD (intraday breakdown), TTB (triple tap breakout) identifying the patterns I am trading so that I can go back and find all those tags and see how profitable they are, by tag. I also very systematically trade with a 2:1 reward to risk ratio at a minimum, so if I am risking 10 cents on a trade I will always be able to make at least 20, 50 cents for a buck, 1 buck for 2 bucks, etc. It takes a lot of self control to actually cut those losses where they cross that level of risk, but if you can do that there is no reason 98% of people could not be profitable in this profession.
Obviously there are a ton of other factors that go into it, and I am still very new so who knows, maybe I will blow up and go insane and fail and go broke, but for now I'm doing ok, so I can only speak to what I currently know.
BTW, my blog is very reminiscent of my overall strategy and trading philosophy if you want to check it out (it's free). I just recently rolled it from Blogger to Wordpress so some of the links might point back to my old blog but all the info is at both places: Link to www.greenbartrading.com
If you have a consistently-performing strategy, how come you aren't rich yet? Consistency does not equal wealth. I live comfortably on what I make but I am not trading to become rich, really. I trade for a living because I like the freedom it offers me, being able to work for myself and go wherever I want and take my work with me (for example spending more time w/ family/friends, traveling, etc)
To answer your question, I am very new in this game so it would be foolish to assume I should be rich already. My strategy works so that I can pay my bills and have money to spend on the things I like and the things I want to do, but I am still limited to the money I have in my account and the buying power that it gives me. If I had millions of dollars in capital and $20m in buying power, sure I could use similar strategies and probably make $100k a day but it takes a long, long time to build up that kind of power in a trading account.
It is a common misconception in trading that as soon as you have a consistent strategy you will instantly be able to scale it to become super-wealthy. That theory leaves out the obvious aspects of being able to handle the swings in P/L emotionally and especially the issue of liquidity. I can identify a pattern on a chart and say I'm going to buy 100k shares and make $10,000 in 5 minutes, but actually getting filled on that 100k shares is a totally different story. It is much harder to execute strategies like mine when you are playing with huge sizes. That is why I try to rack up small gains with a consistent win rate vs just trying to home-run every trade and get rich quick.
What do you think of companies that are making software for retail investors to engage in HFT when they don't even know anything about coding, etc? I don't know much about that field so I don't want to say too much, but in general I think that like many people in this business they are just out to make a quick buck, by selling something to others who are trying to make a quick buck.
Don't you think its bad advice to tell a beginner to trade on 2:1 margin? Not at all. Margin is only dangerous if you don't know how to use it. If you understand that trading a $5k account on 2:1 margin means you're trading with $10k, but you still need to manage the risk as if you have $5k, you'll be fine. When I first started getting really serious with trading, I actually traded a $10k account with 10:1 margin but I never used more than 2:1 or 3:1 because I just didn't want to risk that much.
The margin is only bad if you let it get out of control. Also, it is impossible to short without margin and shorting is vital if you are going to be consistently profitable in the long term. Most people say shorting is more risky but if you short properly, managing risk with stop losses just like when you go long, then there is absolutely no difference between shorting and longing in terms of risk. I don't generally recommend swing shorting for beginners, only because news releases can make things really ugly, but in general, trading on margin and shorting is fine as long as you are smart about it and you understand it (which is not that hard with a little reading).
Edit: To clarify, most of the risk associated with margin comes when people get greedy. If you have a $10k account with 10:1 margin on it and you dump $100k into a stock and risk $2,000 to make $4,000 sure you could make 40% on your account but you could also lose 20%. It makes much more sense, especially with a small account, to trade w/ a reasonable amount of margin so that you can maximize your gains without destroying your account w/ too much risk. This is also just personal opinion. Whether or not trading on margin is a bad idea really depends on the person. I know people who have 50:1 margin and trade 100% in cash, and people who have like $5k and trade as if they have $100k cash rather than $95k of it being margin, lol. It all depends on your personality and how well you understand the risk you're taking.
"...there is absolutely no difference between shorting and longing in terms of risk." Fair enough. That is true. In my experience though I have only in very, very rare cases seen a stock double in an overnight session unless it was a penny stock or something very thin being pumped. In the stocks I generally trade I almost never see that. While I do see large gaps I don't really trade stuff that tends to gap more than 100%.
You can lose more than 100% of your investment overnight through shorting, which you can not do by going long. Stop losses do not guarantee that you can prevent this from happening - crazy things can happen while the markets are closed. In theory, you are correct though, and it is important to realize that for sure!
While this might be rare, it's still a critical difference that people should be aware of. Edit: BTW, it's worth noting that nothing in the market is guaranteed. I believe that if you trade with the fear of losing 100% on an investment overnight you are, in general, being a bit too paranoid. Yes it happens, and it blows bigtime when/if it does, but it is not common enough to really worry about IMO. Just something to be aware of.
Can you explain what it means to invest on a margin? I understand that it is investing money that you don't currently own, but where is the additional money coming from? Usually the broker. If you lose too much, they will do a margin call, which basically means they can protect themselves by forcing you to sell your positions to protect their money if you're investing with it.
This risk is generally mitigated though. I trade on margin every day but I am still only risking a very small percentage of my capital on each trade. If I were to hold trades for longer term timeframes, I might worry more about margin calls but still, in most situations you are going to be pretty well protected by stop losses unless the stock is making huge moves of 40%, 50%, 100% etc which is not all that common in the names I generally trade. In my experience I have not seen margin calls until people have lost like 70-80-90% of their account values on a single trade already. If you can't cut your losses before that point you probably should not even be trading :)
How do you feel about Fannie and Freddie? Release from conservatorship and skyrocket? Or wind down and loss of shirt for the common shareholder? On Fannie and Freddie I never touch them as they are super thick and riddled with manipulation. There are certain stocks I just do not trade and those are two (FNMA/FMCC)
Ariad Pharma (ARIA) - Thoughts? ARIA is actually another on my ban list. Don't know anything about it fundamentally but statistically I have lost money almost every time I traded it so I just don't anymore.
Zogenix (ZGNX) - Thoughts? ZGNX is a great trader. I actually recently bought 2500 shares at $3.59 average (building on a 500 share swing I held from $3.35 the day before) but like a fool I sold it flat after it didn't immediately take off. I caught the top of that recent GIANT 5m share block buy and it killed my average price so since I did not want to risk $800-1000 on the trade I opted to exit flat when it didn't go right away. I don't really know anything about the company itself but I have traded it several times over the last couple years and it usually behaves pretty predictably, so I like it for day/swing trading.
How much did you start with when you began day trading? When I got serious about day trading I started with $10k and traded through a prop firm (as an independent contractor so I was working on my own and only received whatever money I made, no paycheck or boss). I did that because it offered me 10:1 leverage and good trading software (DAS Trader Pro). Once I had the cash built up from that I opened a $25k ameritrade account and now I use that ... I bailed on the prop firm because their software was $125 a month and thinkorsim through TDA is free.
What is your daily routine? Do you spend some time reviewing the daily news before the markets open, do you spend time afterwards reviewing your performance, etc? Yes to both questions. I generally get up around 8:00am EST and do a quick breakfast and shower, maybe go for a run or get outside to do something active. Then I will go through Yahoo Finance inPlay (finance.yahoo.com/mp) and scan for any major news headlines (earnings misses/beats, FDA news, etc). I go through the stockmarketwatch.com premarket section (Link to thestockmarketwatch.com and look at anything that is gapping up or down and use finviz.com to determine why they are gapping. This gives me a bunch of ideas for the day. Also, I usually have a small watchlist prepared from the night before, which is prepared with a scanner I use called StockFetcher (www.stockfetcher.com). I pay 8 bucks a month for that (super cheap actually for how powerful it is!)
Right at 9:30 I am mostly just watching stuff. I seldom trade the first 15 minutes only because it is way too volatile and it is difficult to determine a pattern in only 15 minutes. After 9:45 I will look to see if any of the morning gappers held their gaps and perhaps find a couple trades in those ideas. I also have alerts set at various prices from the night before which will be triggering the whole time giving me ideas.
After the trading day, I usually just shut down and forget about trading for a while and then later at night I go back and upload all my stuff to tradervue.com and put in comments/details about why I took the trade, where I bought/sold, if it was a gain/loss, etc and post it publicly on twittefacebook. This keeps me honest and makes sure I am always on my game.
Also, each morning I am usually watching my open swing trades to make sure there is nothing crazy going on with them and I will usually sell into morning spikes to book profit on those and possibly re-enter later on to add back to my full position size.
Finally, every once in a while (maybe once a month) I will just wipe the slate clean, eliminate my entire watchlist, and build a totally new one just to keep my mind fresh and eliminate any bias I have developed toward individual stocks.
What kind of additional research you conduct when swing trading in comparison to daytrading? I always check to see when earnings are, and make sure that there are no major catalysts coming up (FDA panels, upcoming contract renewals, etc). I also go back on the chart for a year and look at all the major moves (gap ups, gap downs and big spikes/drops in price) and research why they moved, so that I can react quickly if I happen to see something similar happen. For most of my swing trades I don't tend to care much about fundamental stuff (PE Ratio, income, etc) because they are not long-term enough for that stuff to make a difference. I am a 98% technical trader, but definitely do pay attention to fundamental catalysts like earnings and things of the like.
One other thing is I will use sites like tickerspy.com to check the performance of the overall sector, and keep the general market (SPY) in mind as there are good and bad times to swing trade so I don't want to be swinging long when the market is going down and vice versa, in general.
I have an X amount of money I want to invest, but I don't have the slightest idea of how things work in the brokerage world. The "I'm cheap and don't wanna spend any money" (aka me) answer is to hit up investopedia.com. Everything you should need to know to get started is there, you'll just need to find it all yourself. You need to learn (at a minimum) order types, commissions, different types of trading, margin, and risk management. I teach all this stuff in my course and it's super cheap relative to the other crap that's on the market so feel free to hit me up via my website and I will hook you up w/ a discount code if you want. Let me know if you have any other questions!
Also, I don't have time for learning how to be a broker. The salesman-y answer is that you are the perfect candidate for my Fundamentals of Active Trading course. Check it out at my website in the OP.
How about brokers investing my money? How foes that work? How do I find a reliable broker? Funny you should ask that - you are one of many who has asked me that very same question and the short answer is I have no idea, because I don't like anyone else touching my money, lol.
I believe through any retail broker (scottrade, etrade, ameritrade, optionshouse, etc) you can probably get a dedicated licensed broker to invest for you while you do nothing but your returns in that situation are probably going to be minimal after the broker takes their cut and also all the commissions/fees and probably a service fee for the service itself. I really don't know though, so that's something you could ask a local branch or call one of the retail brokers and see if that is a service they offer.
I just have never done it because I always wanted to do things on my own so I understood exactly where my money was going and knew that I wasn't being ripped off.
Hope that helps!
Very good, thanks for your answers and good luck with your trading. Is it bad luck to say good luck to a broker? Lol. I don't know, but I'm not a broker so it doesn't matter! I'm just a lowly day trader, scraping by in my underwear, day by day. lol
I just wanted to tell you that you occupy the job I would hate the most, and thus I have immense respect for you. Thanks Joewith! It is definitely not for the faint of heart. I have had many people tell me I swear at my computer a lot when I'm trading, haha, as if that's going to make a difference. For me it is all about the challenge though. I love the challenge and the fact that if I fuck up it is 100% on me, and I can't blame anyone else!
Question: do you plan to/think you can get rich by doing this, considering the risks involved? To answer your question: It is not my plan but I do believe it is possible. I actually, right now, make less money than I did when I worked full time, but I am a lot happier because I have the freedom to do whatever I want whenever I want. In the future I do anticipate being able to far surpass my old level of income but I don't expect to be filthy rich. I would like to see my business grow to $1m+ within a few years and see annual trading profits in the $250-500k range on average, but I have a long way to go to get there. Before I left my job, my best month was September of 2013 in which I made $19.5k on a $25k account which was pretty awesome, so I know it is possible to do amazing things with this profession if we just work hard and manage our risks well.
What advice can you give to an 18 year old looking to trade? I am going to college next year and I have relatively no expenses, so I'm not afraid to lose a little bit of money. I just put some of my money I have saved into a brokerage account and am just trying to see what I can do with it. First, make sure that you REALLY can afford to lose that money. If you can that's great! The best way to get your feet wet is to just dive right in. Risk management is key. You can learn technical analysis pretty easily and use it to identify support/resistance levels on the chart. Always make sure that your risk is at a maximum, 1/2 your potential reward. This will make sure that if you take 100 trades, you lose $50 50 times and make $100 50 times, you have $2500 in loss against $5,000 in reward or a net profit of $2500 (less commissions).
Basically, do not assume that trading is a get rich quick scheme. If you do you will blow up your account faster than you can blink. Trading is a numbers game. Manage your risk and understand what you're investing in and always have a plan to enter AND exit the trade. If you trade with no plan you are doomed.
It's great you're starting to invest as young as you are. If you're a disciplined, controlled individual you will find this is a fantastic way to make extra money and possibly even make a living. Check out my website and look into the Fundamentals of Active Trading course...it might be perfect for you for right now. Email me from the contact page if you decide you're interested and I'll hook you up w/ a discount code.
Have you tried different apps for trading? Wich one is (for you) The Best? Yep! I use Thinkorswim from TDAmeritrade currently. Here is an analysis of four platforms I have used w/ their pros and cons: Link to www.greenbartrading.com
I have a finance degree and am very interested in transitioning to day trading for myself full time. What do you use for a trading platform? I have been looking into Cobra Trading and others that cater to active traders. I use Thinkorswim through TD Ameritrade. I also have used Lightspeed, Scottrade Elite, and DAS Trader pro. I did an analysis of those four here: Link to www.greenbartrading.com
I haven't heard of Cobra Trading, but I also know Interactive Brokers is very popular for day traders and active traders.
What is your opinion on index funds? I often wonder if day traders actually get higher returns or if their gains are just generally in line with the collective increases in the market. I'm not saying that's true in your case I'm just curious! I use index funds as a guideline for what to do in my day trades and swing trades. Most of the professional, full time and well-managed day traders I know are significantly outperforming the index funds. Personally, I don't know if I am because I have not been doing this professionally long enough to have the data to decide. I would say that most of the traders I know are definitely not inline with the market, but are proportionately in-line. For example, if they generally outperform the market, they will outperform it even more when the market rips, and if they generally underperform the market it will get even worse when the market starts to tank. I personally specialize in high-momentum stocks (stuff that is moving on earnings, news, fundamental catalysts), and many of those stocks simply do not care what the market does. They are going to go up (or down) regardless of the market because the volume and the feagreed/euphoria surrounding the news/catalyst outweighs general market sentiment.
Thanks for your answer. As a side note, are you familiar with day trading cryptocurrencies? I am a long term investospeculator of them myself but think day trading them might be a bit too high risk. I assume you're referring to things like bitcoin. If not, I don't even know what a cryptocurrency is, lol. If so, I don't know anything about trading them nor do I care to. Like you said, they are extremely volatile and way too risky. I stay away from very risky investments like penny stocks and bitcoin and try to trade only things that have decent liquidity, are easy to get into and out of, and that are not going to be too susceptible to manipulation by people with way more money than me.
Yes I mean bitcoin and its similar alternatives e.g. "peercoin". I agree its definitely highly volatile and I'm quite skeptical myself, I do find it quite interesting though. Yeah it is fascinating. I actually have a buddy who recently randomly threw $1k at bitcoin on the news that Congress was planning to make it a real currency (or something like that?) and tripled his money in three hours, haha. Fun stuff, but way too crazy for me.
Do you like showing people your fancy monitor setup when they come over? Haha! Actually, I only have one monitor :) That setup that you see in the link in the main post is all I use. I flip between the trade tab where I actually click buy/sell and the charts tab which has three different charts on it (a daily, a 30 min and a 5 min chart) as needed. Generally, since I am day trading and not investing, I only care about the 5 minute chart for snap decisions. I will look at the 30 min and daily to find ideas and identify support/resistance levels on the chart but when I trade, probably about 75% of my time is spent on the screen you see which can all fit on a 15" laptop!
I do have a 24" external monitor which is usually what I'm using, and occasionally I'll open my laptop to throw up my google chats w/ other traders so I don't have to hit alt+tab 8 million times throughout the day. lol if I did have a fancy monitor setup though, I would definitely show it off!
In trading, KISS principle works best IMO :)
Congrats on making the leap! I'm a slow-motion swing trader by comparison, just a step below Graham-style buy and hold. I'm at the saving up stage until I can start playing weeklies with 5k or so. I thought it funny that your ama appeared close to one about flipping items from thrift stores on eBay, as that's what I do now. My question would be, how often do you rebuild your watch list, and how large do you let it get? I know some traders who've been making a living on maybe 5 different stocks a year for the past decade. I like your thoughts on why you're not branching into options yet- when something works, you don't put it down to go try something else! You said you like to get out of the house sometimes while trading- do you ever have issues with WiFi speeds doing this? Or are your trades loose enough that a couple seconds one way or the other isn't a big deal? I rebuild my watchlist every night and mark stuff that I think is ready the next day. For any given day I usually only have 5-6 stocks that I am watching very closely. The rest are just kind of there as "back of my mind" ideas for later. At the end of the day if something didn't go then I will keep it on the list to stalk for a while and use those items if I run out of ideas during the day, to see if there are any opportunities in stuff I had been watching a couple days earlier. Then I usually wipe the whole thing clean and start over about once a month as it crosses 40-50 symbols because that just gets annoying and too much to manage. Interesting question about the wifi - yeah slippage can be annoying if I don't have a good connection, but I usually account for slippage in my position sizes so that if it slips a few cents it won't break me. If I have a slow connection I will usually scale back my risk and be more selective due to the added risk of disconnections, slippage, etc. That used to happen to me all the time at work: I worked in a lab where I couldn't have my cell phone and I'd be in a trade with no stop loss set (since I didn't want to get wicked out!) and the internet connection would randomly drop and I'd have to run out of the lab to get my phone and put in my stop loss or sell from my phone, lol. It cost me a bunch a couple times, so I started to take that into account when trading.
I also know traders who only trade 1-2 stocks and just know them so well that they can hit them over and over and make money for years. Those are a special breed of trader, IMO, and I would probably get bored out of my mind trading the same symbol every day lol.
Do you find technical analysis to provide reliable indicators of stock movements? I do find technical analysis to be reliable. It is a self fulfilling prophecy in a large way so it doesn't really provide any sound long term strategy but for short term strategy it works great. I use probably 98% technical analysis in my trading. EDIT: To clarify I mean that technical analysis is not a reason to make a long term investment in any one stock or financial instrument. However technical analysis can be used to make consistent short term gains over the long term.
Have you ever traded options, and what is your opinion of them? I've never traded options. I hear they are great for reducing risk and capitalizing with a small account but my philosophy in the market is to do what works until it doesn't work anymore. For me, trading equities has worked well so I'll keep doing that until it doesn't. Maybe someday I will get into options, but I have no plan to do that currently.
I don't know if I've ever heard a trader say it could be boring to only have a couple companies to worry about! That worries me more, having dozens and trying to keep an eye on all of them. Haha it's a personal thing I guess! I guess it could be nice to trade the same company over and over again but I like the excitement of finding new ideas all the time and the challenge of learning about different companies and how they behave in the market. I have even traded some companies that turned out to be total frauds and it's funny to me because I look back and see that almost all my trades in them were shorts and when they finally get crushed I am like HA! I KNEW IT!
I appreciate the ama, I'll be checking out your site. Thanks for the kind words - this AMA is a ton of fun.
Thanks for the detailed reply! I'm looking into trading and learning about options and the thinkorswim platform. Really interesting stuff. Perhaps in 30 years I will lose faith in technical analysis as well. Really though, I am pretty confident because more than I trust technical analysis I trust my risk management skills, and they, not technical analysis or fundamental analysis or economic analysis or anything else, are what ultimately make me my money.
Last updated: 2014-01-23 23:41 UTC
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