Alright so this month I have only placed one trade so far. I have not traded a whole lot but have been studying since August. My 2017 game plan is to start trading part time but keep my eyes on the market everyday. For this to happen I am going to carry my laptop with me to work and set up a secret trading station. I just transfered $5,000 into my E trade account yesterday and am going to wait til that clears in about 3 business days. Once I become consistently profitable that it when I will add more to my account as we go. I do have some nice income coming in from my day job and have hardly 0 expenses. (Which is nice). The only barrier I see myself having is trying to get away with trading while I am at work since it might be suspicious having a seperate laptop open. Does anyone know if you can place trades from your cell phone???
Well that is my game plan for 2017. I will post all of my trades win or lose and hopefully this year I can make enough money to go trade with Tim live and meet him! I am 21 years old and really see a great opportunity ahead of me. I also want to point out that I will be self sufficient and make my own watchlist. Not sure if I will post them or not yet. Might as well that way it keeps me on top of my game.
Sorry the grammar sucks.. Didn't say I was perfect!
Good game plan, and I think you're starting at the right time. I'm 30 myself and just starting to get into the gravy of understanding to trade. I am trading - but very small and less risky. I will suggest that you either trade small or do paper trades so you don't learn the hard way (aka by blowing past your $5K in a day or a week or a month). I am in a very similar situation overall. I'm limited due to a day job, and have found RobinHood to be my broker for swing trades. I pick up on the dip to
* I pick up on the dip towards the beginning and end of the days, and decide within the next day or two when I want to exit. It helps avoid PDT rule, but I'm also missing out on day trading opportunities. Start small and slow - is my biggest piece of advice to you at this point.
@ScrawnyB I've only recently started using robinhood. I like the convenience of easy on the go trading with my phone, but I'm finding the PDT rule to be limiting. What has your strategy been to make a profit but avoid going over PDT? It seems like I end up missing out on a lot of good profits because of it
Swing trading. I am going to move to RobinHood Gold soon so I can buy pre-market and after-market. I'm also thinking about developing my own alerts app for android. that's my current biggest pain is not being able to manage set price alerts.
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