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Day Trading

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BillyB
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Postby BillyB » Tue, 31 May 2011 9:05 pm

Or buy Greek bonds. Good yield at the moment - 13% :lol:

Mr Tan
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Postby Mr Tan » Thu, 02 Jun 2011 12:39 am

if u i cant managed 1k , having more in account will only result in one hogging in trade. thats not my trading style


Grumpy77 wrote:I traded full-time on my own acct for 7 years, in that time I did not meet one person that started up day-trading and survived more than a year. And I was involved in many groups online and via training sessions over that time.

In the long run I made a bit, but was undercapitalised and ended up degrading my trading acct by having to live off it.

If you don't have at least 200k, and that is the absolute minimum in my opinion, you WILL NOT MAKE IT!!!!! Starting with less will mean you'll have to gear up and the afore mentioned swans of all colours will quack your account. Having more than 200k will likely also mean failure but at least it will only be due to lack of discipline and not a lack of funds.

Better to donate your money to charity now and then just get another job, at least that way you'll have a warm and fuzzy feeling about the losses. End result will be the same.

Cheers,

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BillyB
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Postby BillyB » Thu, 02 Jun 2011 9:39 am

Mr Tan wrote:if u i cant managed 1k , having more in account will only result in one hogging in trade. thats not my trading style


Grumpy77 wrote:I traded full-time on my own acct for 7 years, in that time I did not meet one person that started up day-trading and survived more than a year. And I was involved in many groups online and via training sessions over that time.

In the long run I made a bit, but was undercapitalised and ended up degrading my trading acct by having to live off it.

If you don't have at least 200k, and that is the absolute minimum in my opinion, you WILL NOT MAKE IT!!!!! Starting with less will mean you'll have to gear up and the afore mentioned swans of all colours will quack your account. Having more than 200k will likely also mean failure but at least it will only be due to lack of discipline and not a lack of funds.

Better to donate your money to charity now and then just get another job, at least that way you'll have a warm and fuzzy feeling about the losses. End result will be the same.

Cheers,


Can you explain this in more detail as I don't understand what you mean?

Fortuna888
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Day Trading

Postby Fortuna888 » Tue, 28 Jun 2011 3:20 pm

I am a professional trader using the Interactive Brokers platform.I dont believe you can be a successful (Day) Trader without a lot of experience & novice traders tend to overtrade, eventually losing their capital.I see that I am not permitted to advertise but am sure I could teach you to be successful by going through trades with you.I wish you luck in your passion

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Re: Day Trading

Postby Mr Tan » Thu, 30 Jun 2011 9:21 am

hogging trade means not putting tight SL and wanting to win everytime , thats why u need big captical (that way of trading is for noobs or quantum fund mangers) , its a kind of suicidal move to trade this way.

Fortuna888 wrote:I am a professional trader using the Interactive Brokers platform.I dont believe you can be a successful (Day) Trader without a lot of experience & novice traders tend to overtrade, eventually losing their capital.I see that I am not permitted to advertise but am sure I could teach you to be successful by going through trades with you.I wish you luck in your passion

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ksl
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Re: Day Trading

Postby ksl » Thu, 30 Jun 2011 12:39 pm

Mr Tan wrote:hogging trade means not putting tight SL and wanting to win everytime , thats why u need big captical (that way of trading is for noobs or quantum fund mangers) , its a kind of suicidal move to trade this way.

Fortuna888 wrote:I am a professional trader using the Interactive Brokers platform.I dont beli me yiveeve you can be a successful (Day) Trader without a lot of experience & novice traders tend to overtrade, eventually losing their capital.I see that I am not permitted to advertise but am sure I could teach you to be successful by going through trades with you.I wish you luck in your passion
Suicidal for who! Not the fund manager :lol: That's why they are so helpful to play with other peoples money! We could just as well say give us your money and I'll go to the casino! Fortuna888 is just another dreamer playing with other peoples money, if they was good they wouldn't be needing other peoples money.
I also don't agree with there assumption that experience & novice tend to overtrade. One can only minimise risk, it's still a form of gambling and a lot to do with luck, you win some you lose some and at the end of the day, you hope you make profit. A gambler without sense will lose your money!

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Postby luxiana » Mon, 15 Aug 2011 12:36 am

I saw a post mentioning MT4,

I've looked into MT4 to program EAs and to be honest, MT4 is a good piece of software, however the brokers behind it are kind of shady (electronic dealer for instance).

the backtesting abilities of the program are lacking of a lot of features too...

In Singapore: Philip Securities is a decent broekn. MIG and Saxo are also here and are worth looking at.

I personally use IB and I am quite happy with the pricing and trade routing system
my website: free online game

fxman
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Postby fxman » Mon, 03 Oct 2011 1:24 pm

sing, i am also trading. But only on forex. Why do you want to start trading?
By the way, anyway have any views on the EUR USD pair this week? It seems going down all the way to 1.30 levels

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BillyB
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Postby BillyB » Mon, 03 Oct 2011 3:01 pm

fxman wrote:sing, i am also trading. But only on forex. Why do you want to start trading?
By the way, anyway have any views on the EUR USD pair this week? It seems going down all the way to 1.30 levels


I have a view - both regions are run by incompetents, and you'd have more fun wiping your arse on your money than trying to predict macro conditions in this shit storm.

fxster
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Postby fxster » Thu, 13 Oct 2011 10:54 am

Hi there, I'm a newbie in this sgexpat forum.
I've enrolled for one of those courses, which cost me about $2k. I must say it probably worth about $500 only. Yes, it's true u can learn most of it from babypips.
But without the initial tuition fees, I may have lost interest, but it is this so called tution investment, that made me insistance on doin forex trading.
First few months lost a lot due to no discipline, not following risk mangement, etc.
After that 2 months i kept my trade as low as 0.01 size until now, for 2 yrs.
Not making much progress, yet to recover my earlier losses and tuition fees, but not making much losses as well. breakeven trades so far.
Hope i will find the holy grail one day.

But for those do feel free to share your way of trades so that we can learn a thing or two here.

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Postby Canadian Trader » Wed, 07 Mar 2012 8:28 pm

Had a brief encounter with FX but stick to US securities. Time difference will mess with you but I like trading in products I can do fundamental analysis on (though not necessarily long-term stuff but using upgrades, positive earnings revisions, big quarterly earnings surprises etc. really helps).

Instead of CFDs why not use a remote prop shop? {sanitized by moderator} that talks about what you should a firm for regardless if you have experience or not. I currently trade and this is my opinion if you want to see if its something that is a fit or not (be aware the answer is mostly not a fit)

Take 3K to fund an account at a prop shop which will give you 60K to trade. You won't need that much to learn anyway. They'll give you a platform {sanitized by moderator}. Keep it simple {sanitized by moderator} you don't need all the complex routing and stuff {sanitized by moderator}. You'll pay $150 to $200 for monthly platform fees and data. Read some intro stuff on trading 5 minute charts using trendlines, moving averages, and simple entry rules (like you can't buy until the current candlestick goes higher than the previous one - and vice versa for shorting). This will keep you in the game a bit longer and prevent lots of countertrend trading.

Trade 100 shares only in stocks with a daily range of no more than 50 cents - maybe less. You can screen for this on sites {sanitized by moderator} using the ATR filter. Avoid trading rooms at first, only trade one stock at a time, analyze the SPY or QQQ at the same time to determine market pressure long or short.

Prop firms rates? No more than 200 month. Don't scalp (at least at first) but target the longer trades that last 30 minutes or more (5 min charts at least an not tick or 1 min). Trade a max of 2,000 shares a day for the first few months. Prop firms take a cut. You either keep almost all your profit and pay 60 cents per 100 shares traded (plus and ECN rebates or fees and SEC, NASDAQ, blah blah which might cost similar) or 2 cents per 100 shares traded but you only keep 70% of your profit. These are rates you can get for inexperienced traders with no history. Depends on your trading style which is better but I trade lower volume and bigger moves myself. 2,000 shares would cost $24 daily in fees if market orders but learn about trading for credits with limit orders on EDGX ARCA BATS and use BYX and EDGA for market orders as they are cheaper (or sometimes free). Get your fees down to $15 a day on 2K volume which is $300 month.

Inside 2-3 months you should definitely know if this isn't going to work and hopefully you still have some of your 3K left to take back. If you break even on trading you should still have less than half of that after accounting for software and trading costs. In all honesty, go into it expecting to lose your 3K and 3 months just to learn and you won't be devestated if you belong to the majority that isn't well suited to trading.

I guess this turned into a rant - sorry.

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JR8
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Postby JR8 » Wed, 07 Mar 2012 9:45 pm

Second post and presumably plugging the same West Indies hosted trading platform before the Mods got to it. Your suggestion doesn't even meet the needs that the OP was asking about but something totally different.

Have to wonder why someone in Canada would be posting on old topics on a SGn forum to plug a West Indian operation.

Oh but hang on, the latter's admin operation is based in Canada.

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Strong Eagle
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Postby Strong Eagle » Wed, 07 Mar 2012 10:26 pm

JR8 wrote:Have to wonder why someone in Canada would be posting on old topics on a SGn forum to plug a West Indian operation


SEO puke?

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Postby JR8 » Wed, 07 Mar 2012 10:48 pm

Heck of a lot of puke for a couple of name-checks!

If the trading on 2000% margin didn't scare you off, fixed fees of $150/200pm for doing nothing should.

Then of course we have the minor detail of why any SG Expat would wish to trade via a one man and his donkey operation in the West Indies.

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BillyB
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Postby BillyB » Thu, 08 Mar 2012 10:44 am

JR8 wrote:Heck of a lot of puke for a couple of name-checks!

If the trading on 2000% margin didn't scare you off, fixed fees of $150/200pm for doing nothing should.

Then of course we have the minor detail of why any SG Expat would wish to trade via a one man and his donkey operation in the West Indies.


Completely agree with Delia. That leverage ratio of 20-1 is absolutely ridiculous for a beginner, and anyone with half a maths brain would work out that $200 a month (fixed cost) on top of execution fees means you have to turn a tidy profit each month to break even.

Better going through a banks online portal to start with, and paying fee's each time you want to trade, rather than an ongoing fixed cost each month.


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