Trader Insight


Trading Desk Setup

Posted by on 8:49 am in Stock Trading Tips | 0 comments

Trading requires a lot of analysis, attention to detail and management. It is a visually strenuous job and having a decent setup with multiple monitors will go a long way to help you achieve your goal. My workstation is arranged so that I am comfortable while I am at my desk. I have a minimalistic approach to my desk space because I want to reduce all the clutter and distraction while I trade. Computer Dell XPS 8500 24GB DDR3 RAM Samsung 840 EVO 120GB Solid State Drive (SSD) 2TB HD AMD Radeon 7570 1GB GDDR5 (supports 2 monitors) I am a strong...

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Pairs Trading – What Is It And How Do I Profit Off This Strategy?

Posted by on 10:32 am in Stock Trading Tips | 0 comments

Pairs Trading is a market-neutral trading strategy where a long position is matched with a short position in a pair of highly correlated securities, such as two different ETFS, stocks, commodities, etc. Some people refer to it as a statistical arbitrage or convergence trading strategy. The profit motive of pairs trading is to get long the security that is underperforming and to sell short the one that is overperforming. The trader's belief is that over time, the underperforming security will rise more in value in relation to the...

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What Are Some Good Books To Read About The Stock Market And Trading?

Posted by on 10:06 pm in Stock Trading Tips | 0 comments

Every person I have talked to over the past two decades who have asked me for stock trading advice, I have always recommended them to read one book. And that is Reminiscences of a Stock Operator by Edwin Lefèvre: Why do I cherish this book so much? Because it accurately details what life can be as an equity trader. Even though the story takes place in the early 1900s, the physchological impacts of the stock market on Jesse Livermore (the main character in the book) and his trading are wonderfully detailed in the book. Any trader, new or pro,...

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Overnighting Stock Positions As A DayTrader

Posted by on 7:53 pm in Stock Trading Tips | 0 comments

A rule of thumb that I cannot stress more is: Do not do "overnights" if you are a daytrader. An overnight is a trade that has not been closed by the end of the trading day and held to the next day. Why? From my own personal trading and from what I have observed when I was at my prop trading firm, is that overnighting losing daytrading positions (trades where you are already losing your shirt) usually results in bigger losses. It's best to start each day fresh with nothing on the books so you can focus your every attention on what's moving...

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How To Cope With The Stress Of Day Trading

Posted by on 7:30 pm in Stock Trading Tips | 0 comments

No one said equity trading was easy. If you are day trading at home as your sole source of income, the pressure and stress levels you go through each day are through the roof. In this job, there is a 100% direct correlation between your success/failure and your financial stability/instability. In other 9 to 5 careers, if you carry out a few mistakes on the job you are given second chances. In trading, there are no second chances. Bad trades are permanent losses in your pocket. This is why a struggling daytrader can be the most irritable...

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How Much Do I Look To Make In A Trade?

Posted by on 6:27 pm in Stock Trading Tips | 0 comments

Questions like "What price target do you have for $XYZ stock?" or "How much are you looking to make in $XYZ?" are the most frequently asked questions I get when I just buy or sell short a stock. So what's the answer? Answer: I don't know! After I get into a position, I watch the stock trade tick by tick. I usually don't know if I will be selling the stock in 3 seconds or hours later. It all depends on what happens AFTER I initiate my position. In daytrading, a stock which appears very bullish on the charts and tape may change in a second to...

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Trade Based On Your Personality

Posted by on 8:53 pm in Stock Trading Tips | 0 comments

There are all types of successful traders, ones that trade big money with big positions who also have big swings in their P&L, and those that trade small but are consistently profitable with hardly any P&L volatility. Which type of trader are you? From my experience training and developing new daytrader newbies during my Worldco LLC days on 110 Wall Street, I have seen so many types of people give daytrading a try. And from what I have witnessed over the years is this: you are how you trade. Or should I say you are what you trade? One's...

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Exiting A Stock Position – When And How

Posted by on 10:17 pm in Stock Trading Tips | 0 comments

It's always easy to get into a stock position. But it's harder to know when to get out of one and how. As you get more experienced trading, you'll also learn that the larger position you have, the harder it is to get out without moving the market. So just how and when do you close your stock position? 1. Get out of a position when your initial reasons on why you bought or shorted a stock are no longer there. For example, let's say you got long XYZ stock because it was holding a certain key support level. But suddenly some big sellers showed...

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6 Tips That Will Help You Be A Better Equity Trader

Posted by on 6:03 pm in Stock Trading Tips | 0 comments

Learning how to successfully trade the markets requires discipline and insight. Here are some tips / thoughts that I feel are important for any daytrader, whether a novice or a veteran trader, to embrace: 1. Learn how to manage risk. Don’t get into large positions that you aren’t financially comfortable with. If you are worried about how much buying power you have left then it usually means you are in too many positions or have too large of a stock position. In losing trades, know when to take a loss and admit defeat. I’ve been there too in...

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New To Trading? Learn W/ Others Here!

Posted by on 2:50 am in Why You Should Subscribe | 0 comments

You don't need to have a rocket scientist background to be a consistent profitable equity trader.  All you need are the right set of trading strategies coupled with the proper self-risk management and you have a winning combination. Successful Wall Street traders all have different trading styles.  Learn which one(s) are best suited to you by exposing yourself to the many different trading ideas presented in our live trading chatroom.  Connect with real people who do this for a living and learn from the pros. You learn faster when you are...

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