Online Trading Live Day Trading Tips for Jan 8 Part 2

[Timedatombomb]

er stocks.. I cant see any patterns. I am wondering if this is because they are penny stocks? How to I make the information I gather from penny stocks make sense when converting the stock prices to candle sticks? I just see a bunch of gaps. Are my setting for my etrader pro software not right?

[Timedatombomb]

sgomez, I am starting off with not a lot of funds (around $1000). I have studied candle stick patterns and charts and read a few books on day trading and swing trading. I realize that I have to start with penny stocks to make any money due to commission and other factors. I am currently looking at .01 - .05 cent stocks with high volume. I am using Etrader pro. My question is When I break it down to a 15 min period during a day of trading the candle stick patterns do not resemble the ones of oth

[KATOMATE01]

@Timedatombomb no offense man, but you really can't make any good money day trading with a thousand bucks...I admire your ambition to invest, but you are much better off throwing it into some EFT indexes like DJI and the Qs and letting them grow over time. That's what I did as a teen and it was some good advice...I had put in around 4 grand of my own money and a couple years later, I have made a good ROI. If you are willing to lose it, though, you can have fun, but will lose a lot to commissions

[StockTradingMaster]

Keep the videos coming man

[jewishdad]

I'm fairly new to all of this, but my question is: what is your average yearly return day trading? please answer. Thank you!

[USsoldier75]

im bored =( 0

[infuseinfuse]

How much money we need in the account to start doing day trading 5 days a week? I think at least 200k, because of the number of stocks we have to buy and sell in a day,and the three business day waiting time to get the funds back in to the account after selling for any type of account, is this correct?

Thanks a million in advance for the answer

Enjoying your videos and learning a lot from it.

thanks

[marauda777]

if u had what is called a margin account u should not have 2 wait the 3 day waiting period to my understanding

[stevegee58]

How are you guys filtering for daily watchlists (which tools and what criteria)? Some things I look at myself are 52 week highs/lows, unusual volume, gaps, earnings, and analyst upgrades/downgrades.

[Vmusic55]

hey how much do you pay for commisions?????? when trading stocks. I very new to this if you can help me that would be great.

[pachon888]

Andy/Steve,

Would it be fair to say that posting these have helped your trades, I mean do you feel that now that you have a fan base (myself included) you have to stay sharper and stick more to your money management plan?

[andyatm2000]

Yes, there is no doubt that you help s to be more discipline but it comes with a draw back. I lost about $300 today in a stock that did a nosedive rigth as I started narrating and filming another trade. Providing what we do sometimes comes at a cost, It's hard to stayed focused on all the trades and narrate but we will get better.

[sgomez858]

Well, yes and no. Even before I was doing these videos, I had years of discipline to learn and develop. That is what has kept me in the game for the long run. Doing these videos actually adds pressure to try and make good content for the day.

[pachon888]

Andy/Steve:

Can you please show (start recording) before you enter a position also, not just when you get out and take profits/loss?

Thanks, I'm a Fan and have learned a lot, keep it up!

[andyatm2000]

We will do our best but sometimes the moves happen so fast it's hard. We are always looking for the right trades and when we find them the first instincts is to execute. Once I get a better feel for lightspeed and the new desktop sharing software I'm working with I will be able to accommadate you more

[andyatm2000]

Thanks. I understand your point but I don't let the price of a stock dictate what I trade. I look for momentum and setups. I've made lots of money over my career trading pissant stocks. The key is to have a reason for entering a trade regardless of the price. Look for the setups and go where the action is and your profits will take care of the commissions.

[mikegmi2]

Good job working your way out of the red Andy. Had one comment...I would think that you guys would shy away from trading $1 stocks like CPST...being that you pay commisions by the 100 shares (i think Steve said he paid $7 per 1000 shares or something like that). Being that you have to trade higher volume of a stock like CPST, it automatically takes away from your potential profits right off the bat...puts you at a disadvantage (minor) the minute you enter the trade.

[sgomez858]

See Andy's reply above. I agree (of course)