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eToro: impressions, doubts and (ignored) lessons from copy trading

(no promotional content, no affiliate links)
Hi,
exactly four years ago, I started copying eToro investors / traders that I selected using the broker's built-in search engine (profitable in last two years, already being copied by others), followed by manual filtering, to take into account fluctuations in yearly returns, composition of their portfolios etc. With that, I got a list of 10 people whom I started to copy on a demo account:
https://drive.google.com/file/d/1u52f0XHfr-LauIscKcFDYF0yGTTUr6VY/view?usp=sharing
In the screenshot you can see that in case of the first two of them the amount invested was $10,000, while for the rest it was just $100. This is because I started copying the first two a couple of weeks earlier; eventually I changed this into $100 the same day I made the screenshot and this is when my calculations start - so this thing is irrelevant, I just cannot travel in time to make another screenshot.
What I did after that?
Well, within the next six weeks my profits oscillated between -$11 and +$9.50 (the biggest profit was on Nov 9, a day after US presidential elections). I found this "boring" and discontinued experimenting with copy trading.
Today I looked back at those ten traders. Here is what I found. Firstly, seven of them are not with eToro anymore; investorNo1, Simple-Stock-Mkt, tradingrelax, 4exPirate, primit, Gallojack, xjurokx. The other three traders are:
My observations and thoughts are as follows:
  1. Seven out of ten traders are not with eToro anymore, which makes me wonder why. I have no proof but my guess is they simply performed poorly, lost their copiers and closed their accounts. This is already alarming but what if they opened another account? Or, even worse, multiple accounts? They could be investing small money and try different risky approaches, hoping that at least one account will turn out profitable in the long turn, attracting potential copiers. (I'm not claiming that those 7 particular traders did this, it's just my general suspicion regarding some of eToro traders)
  2. I'm unable to calculate what would be my profit if I never stopped copying them, because I cannot check at what day and with what profit those seven traders left eToro. I'm guessing this would be an immense loss. On the other hand, considering the three traders who are still with eToro, I would lose more than a quarter of my assets!
What now?
I must be a quite adventurous person or at least an incorrigible optimist, because a month ago (exactly on Aug 26th) I started copying three traders with real money. Here is who they are.
rubymza (Heloise Greeff)

OlivierDanvel (Olivier Jean Andre Danvel)

rayvahey (Raymond Noel Vahey)
What was my strategy to hand-pick these particular traders? First I did some basic scanning using eToro's built-in search engine. The most important filter was that the trader was profitable within the last two years: unfortunately, eToro does not allow to reach details of earlier performance automatically. To know how the trader performed before 2019, I had to look at stats in the profile of each of them. I was also taking into account how often they trade (to avoid those who do only a couple of trades yearly), whether they were trading recently and whether they write posts regularly in their feed. With this, I got a list of fifteen candidates to copy:
As you already know, I finally chose three of them. Rubymza seemed to be the most trustworthy stock trader, based on profits, posts feed and regular trading, among other things. Regarding OlivierDanvel, his uniqueness is the ability to record continuous profits with the Forex market. Finally, with rayvahey I wanted to increase my exposure to the commodities market.
Wish me good luck!
Michael

P.S.
You might find those copy-trading related readings interesting:

Disclosures:
submitted by investing-scientist2 to StockMarket [link] [comments]

Copy trading with eToro: impressions, doubts and (ignored) lessons

(no promotional content, no affiliate links)
Hi,
exactly four years ago, I started copying eToro investors / traders that I selected using the broker's built-in search engine (profitable in last two years, already being copied by others), followed by manual filtering, to take into account fluctuations in yearly returns, composition of their portfolios etc. With that, I got a list of 10 people whom I started to copy on a demo account:
https://drive.google.com/file/d/1u52f0XHfr-LauIscKcFDYF0yGTTUr6VY/view?usp=sharing
In the screenshot you can see that in case of the first two of them the amount invested was $10,000, while for the rest it was just $100. This is because I started copying the first two a couple of weeks earlier; eventually I changed this into $100 the same day I made the screenshot and this is when my calculations start - so this thing is irrelevant, I just cannot travel in time to make another screenshot.
What I did after that?
Well, within the next six weeks my profits oscillated between -$11 and +$9.50 (the biggest profit was on Nov 9, a day after US presidential elections). I found this "boring" and discontinued experimenting with copy trading.
Today I looked back at those ten traders. Here is what I found. Firstly, seven of them are not with eToro anymore; investorNo1, Simple-Stock-Mkt, tradingrelax, 4exPirate, primit, Gallojack, xjurokx. The other three traders are:
My observations and thoughts are as follows:
  1. Seven out of ten traders are not with eToro anymore, which makes me wonder why. I have no proof but my guess is they simply performed poorly, lost their copiers and closed their accounts. This is already alarming but what if they opened another account? Or, even worse, multiple accounts? They could be investing small money and try different risky approaches, hoping that at least one account will turn out profitable in the long turn, attracting potential copiers. (I'm not claiming that those 7 particular traders did this, it's just my general suspicion regarding some of eToro traders)
  2. I'm unable to calculate what would be my profit if I never stopped copying them, because I cannot check at what day and with what profit those seven traders left eToro. I'm guessing this would be an immense loss. On the other hand, considering the three traders who are still with eToro, I would lose more than a quarter of my assets!
What now?
I must be a quite adventurous person or at least an incorrigible optimist, because a month ago (exactly on Aug 26th) I started copying three traders with real money. Here is who they are.
rubymza (Heloise Greeff)

OlivierDanvel (Olivier Jean Andre Danvel)

rayvahey (Raymond Noel Vahey)
What was my strategy to hand-pick these particular traders? First I did some basic scanning using eToro's built-in search engine. The most important filter was that the trader was profitable within the last two years: unfortunately, eToro does not allow to reach details of earlier performance automatically. To know how the trader performed before 2019, I had to look at stats in the profile of each of them. I was also taking into account how often they trade (to avoid those who do only a couple of trades yearly), whether they were trading recently and whether they write posts regularly in their feed. With this, I got a list of fifteen candidates to copy:
As you already know, I finally chose three of them. Rubymza seemed to be the most trustworthy stock trader, based on profits, posts feed and regular trading, among other things. Regarding OlivierDanvel, his uniqueness is the ability to record continuous profits with the Forex market. Finally, with rayvahey I wanted to increase my exposure to the commodities market.
Wish me good luck!
Michael

P.S.
You might find those copy-trading related readings interesting:

Disclosures:
submitted by investing-scientist2 to InvestmentClub [link] [comments]

My First Year of Trading

So here it is, three more days and October begins, which marks one year of trading for me. I figured I would contribute to the forum and share some of my experience, a little about me, and what I've learned so far. Whoever wants to listen, that's great. This might get long so buckle up..
Three years ago, I was visiting Toronto. I don't get out much, but my roommate at the time travels there occasionally. He asked everyone at our place if we wanted to come along for a weekend. My roommate has an uncle that lives there and we didn't have to worry about a hotel because his uncle owns a small house that's unlived in which we could stay at. I was the only one to go with. Anyways, we walk around the city, seeing the sights and whatnot.
My friend says to me "where next?"
"I don't know, you're the tour guide"
"We can go check out Bay Street"
"what's 'Bay Street?'"
"It's like the Canadian Wall street! If you haven't seen it you gotta see it!"
Walking along Bay, I admire all the nice buildings and architecture, everything seems larger than life to me. I love things like that. The huge granite facades with intricate designs and towering pillars to make you think, How the fuck did they make that? My attention pivots to a man walking on the sidewalk opposite us. His gait stood out among everyone, he walked with such a purpose.. He laughed into the cell phone to his ear. In the elbow-shoving city environment, he moved with a stride that exuded a power which not only commanded respect, but assumed it. I bet HE can get a text back, hell he's probably got girls waiting on him. This dude was dressed to kill, a navy suit that you could just tell from across the street was way out of my budget, it was a nice fucking suit. I want that. His life, across the street, seemed a world a way from my own. I've worn a suit maybe twice in my life. For my first communion, it was too big for me, I was eleven or whatever so who gives a shit, right? I'm positive I looked ridiculous. The other time? I can't remember.
I want that. I want the suit. I want the wealth, the independence. I want the respect and power, and I don't give a shit what anyone thinks about it.
Cue self doubt.
Well, He's probably some rich banker's son. That's a world you're born into. I don't know shit about it. \sigh* keep walking..*

A year later, I'm visiting my parents at their house, they live an hour away from my place. My dad is back from Tennessee, his engineering job was laying people off and he got canned... Or he saw the end was near and just left... I don't know, hard to pay attention to the guy honestly because he kind of just drones on and on. ("Wait, so your mom lives in Michigan, but your dad moved to Tennessee... for a job?" Yea man, I don't fucking know, not going to touch on that one.) The whole project was a shit show that was doomed to never get done, the way he tells it. And he's obviously jaded from multiple similar experiences at other life-sucking engineer jobs. My mom is a retired nurse practitioner who no longer works because of her illness. I ask him what he's doing for work now and he tells me he trades stocks from home. I didn't even know you could do that. I didn't know "trading" was a thing. I thought you just invest and hope for the best.
"Oh that's cool, how much money do you need to do that?"
"Ehh, most say you need at least $25,000 as a minimum"
"Oh... guess I can't do that..."
Six months later, I get a call and it's my dad. We talk a little about whatever. Off topic, he starts asking if I'm happy doing what I'm doing (I was a painter, commercial and residential) I tell him yes but it's kind of a pain in the ass and I don't see it as a long term thing. Then he gets around to asking if I'd like to come work with him. He basically pitches it to me. I'm not one to be sold on something, I'm always skeptical. So I ask all the questions that any rational person would ask and he just swats them away with reassuring phrases. He was real confident about it. But basically he says for this to work, I have to quit my job and move back home so he can teach me how to trade and be by my side so I don't do anything stupid. "My Name , you can make so much money." I say that I can't raise the $25,000 because I'm not far above just living paycheck to paycheck. "I can help you out with that." Wow, okay, well... let me think about it.
My "maybe" very soon turned into a "definitely." So over the next six months, I continue to work my day job painting, and I try to save up what I could for the transition (it wasn't a whole lot, I sucked at saving. I was great at spending though!). My dad gives me a book on day trading (which I will mention later) and I teach myself what I can about the stock market using Investopedia. Also in the meantime, my dad sends me encouraging emails. He tells me to think of an annual income I would like to make as a trader, and used "more than $100,000 but less than a million" as a guideline. He tells me about stocks that he traded that day or just ones that moved and describes the basic price action and the prices to buy and sell at. Basically saying "if you bought X amount of shares here and sold it at X price here, you could make a quick 500 bucks!" I then use a trading sim to trade those symbols and try to emulate what he says. Piece of cake. ;)
Wow, that's way more than what I make in a day.
He tells me not to tell anyone about my trading because most people just think it's gambling. "Don't tell your Mom either." He says most people who try this fail because they don't know how to stop out and take a loss. He talks about how every day he was in a popular chatroom, some noob would say something like, "Hey guys, I bought at X price (high of day or thereabout), my account is down 80% .. uhh I'm waiting for it to come back to my entry price.. what do I do??"
Well shit, I'm not that fucking dumb. If that's all it takes to make it is to buy low, sell high, and always respect a stop then I'll be fantastic.
By the end of September, I was very determined. I had been looking forward everyday to quitting my painting job because while it used to be something I loved, it was just sucking the life out of me at this point. Especially working commercial, you just get worked like a dog. I wasn't living up to my potential with that job and I felt awful for it every minute of every day. I knew that I needed a job where I could use my brain instead of slaving my body to fulfill someone else's dream. "Someone's gotta put gas in the boss's boat" That's a line my buddy once said that he probably doesn't know sticks with me to this day.
It ain't me.
So now it was October 2018, and I'm back living with Mom n' Pops. I was so determined that on my last day of work I gave away all of my painting tools to my buddy like, "here, I don't need this shit." Moving out of my rental was easy because I don't own much, 'can't take it with ya.' Excited for the future I now spend my days bundled up in winter wear in the cold air of our hoarder-like basement with a space heater at my feet. My laptop connected to a TV monitor, I'm looking at stocks next to my dad and his screens in his cluttered corner. Our Trading Dungeon. I don't trade any money, (I wasn't aware of any real-time sim programs) I just watch and learn from my dad. Now you've got to keep in mind, and look at a chart of the S&P, this is right at the beginning of Oct '18, I came in right at the market top. Right at the start of the shit-show. For the next three or four weeks, I watch my dad pretty much scratch on every trade, taking small loss after small loss, and cursing under his breath at the screen.
Click.
"dammit."
Click.
"shit."
Click. Click.
"you fuck."
Click.
This gets really fucking annoying as time goes on, for weeks, and I get this attitude like ugh, just let me do it. I'll make us some fucking money. So I convince him to let me start trading live. I didn't know anything about brokers so I set up an account using his broker, which was Fidelity. It was a pain and I had to jump through a lot of hoops to be able to day trade with this broker. I actually had to make a joint account with my dad as I couldn't get approved for margin because my credit score is shit (never owned a credit card) and my net worth, not much. Anyways, they straight up discourage day trading and I get all kinds of warning messages with big red letters that made me shit myself like oooaaahhh what the fuck did I do now. Did I forget to close a position?? Did I fat finger an order? Am I now in debt for thousands of dollars to Fidelity?? They're going to come after me like they came after Madoff. Even after you are approved for PDT you still get these warning messages in your account. Some would say if I didn't comply with "whatever rule" they'd even suspend my account for 60 days. It was ridiculous, hard to describe because it doesn't make sense, and it took the support guy on the phone a good 20 minutes to explain it to me. Basically I got the answer "yea it's all good, you did nothing wrong. As long as you have the cash in your account to cover whatever the trade balance was" So I just kept getting these warnings that I had to ignore everyday. I hate Fidelity.
My fist day trading, I made a few so-so trades and then I got impatient. I saw YECO breaking out and I chased, soon realized I chased, so I got out. -$500. Shit, I have to make that back, I don't want my dad to see this. Got back in. Shit. -$400. So my first day trading, I lost $900. My dumbass was using market orders so that sure didn't help. I reeled the risk back and traded more proper position size for a while, but the commissions for a round trip are $10, so taking six trades per day, I'm losing $60 at a minimum on top of my losing trades. Quickly I realized I didn't know what the hell I was doing. What about my dad? Does HE know? One day, in the trading dungeon, I was frustrated with the experience I'd been having and just feeling lost overall. I asked him.
"So, are you consistently profitable?"
"mmm... I do alright."
"Yea but like, are you consistently profitable over time?"
.........................
"I do alright."
Silence.
"Do you know any consistently profitable traders?"
"Well the one who wrote that book I gave you, Tina Turner.. umm and there's Ross Cameron"
......................
"So you don't know any consistently profitable traders, personally.. People who are not trying to sell you something?"
"no."
...................
Holy fucking shit, what did this idiot get me into. He can't even say it to my face and admit it.
This entire life decision, quitting my job, leaving my rental, moving from my city to back home, giving shit away, it all relied on that. I was supposed to be an apprentice to a consistently profitable day trader who trades for a living. It was so assumed, that I never even thought to ask! Why would you tell your son to quit his job for something that you yourself cannot do? Is this all a scam? Did my dad get sold a DREAM? Did I buy into some kind of ponzi scheme? How many of those winning trades he showed me did he actually take? Are there ANY consistently profitable DAY TRADERS who TRADE FOR A LIVING? Why do 90% fail? Is it because the other 10% are scamming the rest in some way? Completely lost, I just had no clue what was what. If I was going to succeed at this, if it was even possible to succeed at this, it was entirely up to me. I had to figure it out. I still remember the feeling like an overwhelming, crushing weight on me as it all sunk in. This is going to be a big deal.. I'm not the type to give up though. In that moment, I said to myself,
I'm going to fucking win at this. I don't know if this is possible, but I'm going to find out. I cannot say with certainty that I will succeed, but no matter what, I will not give up. I'm going to give all of myself to this. I will find the truth.
It was a deep moment for me. I don't like getting on my soapbox, but when I said those things, I meant it. I really, really meant it. I still do, and I still will.
Now it might seem like I'm being hard on my dad. He has done a lot for me and I am very grateful for that. We're sarcastic as hell to each other, I love the bastard. Hell, I wouldn't have the opportunity to trade at all if not for him. But maybe you can also understand how overwhelmed I felt at that time. Not on purpose, of course he means well. But I am not a trusting person at all and I was willing to put trust into him after all the convincing and was very disappointed when I witnessed the reality of the situation. I would have structured this transition to trading differently, you don't just quit your job and start trading. Nobody was there to tell me that! I was told quite the opposite. I'm glad it happened anyway, so fuck it. I heard Kevin O'Leary once say,
"If I knew in the beginning how difficult starting a business was, I don't know that I ever would've started."
This applies very much to my experience.
So what did I do? Well like everyone I read and read and Googled and Youtube'd my ass off. I sure as hell didn't pay for a course because I didn't have the money and I'm like 99% sure I would be disappointed by whatever they were teaching as pretty much everything can be found online or in books for cheap or free. Also I discovered Thinkorswim and I used that to sim trade in real-time for three months. This is way the hell different than going on a sim at 5x speed and just clicking a few buy and sell buttons. Lol, useless. When you sim trade in real-time you're forced to have a routine, and you're forced to experience missing trades with no chance to rewind or skip the boring parts. That's a step up because you're "in it". I also traded real money too, made some, lost more than I made. went back to sim. Traded live again, made some but lost more, fell back to PDT. Dad fronted me more cash. This has happened a few times. He's dug me out of some holes because he believes in me. I'm fortunate.
Oh yeah, about that book my dad gave me. It's called A Beginner's Guide to Day Trading Online by Toni Turner. This book... is shit. This was supposed to be my framework for how to trade and I swear it's like literally nothing in this book fucking works lol. I could tell this pretty early on, intuitively, just by looking at charts. It's basically a buy-the-breakout type strategy, if you want to call it a strategy. No real methodology to anything just vague crap and showing you cherry-picked charts with entries that are way too late. With experience in the markets you will eventually come to find that MOST BREAKOUTS FAIL. It talks about support/resistance lines and describes them as, "picture throwing a ball down at the floor, it bounces up and then it bounces down off the ceiling, then back up." So many asinine assumptions. These ideas are a text book way of how to trade like dumb money. Don't get me wrong, these trades can work but you need to be able to identify the setups which are more probable and identify reasons not to take others. So I basically had to un-learn all that shit.
Present day, I have a routine in place. I'm out of the dungeon and trade by myself in my room. I trade with a discount broker that is catered to day traders and doesn't rape me on commissions. My mornings have a framework for analyzing the news and economic events of the particular day, I journal so that I can recognize what I'm doing right and where I need to improve. I record my screens for later review to improve my tape reading skills. I am actually tracking my trades now and doing backtesting in equities as well as forex. I'm not a fast reader but I do read a lot, as much as I can. So far I have read about 17-18 books on trading and psychology. I've definitely got a lot more skilled at trading.
As of yet I am not net profitable. Writing that sounds like selling myself short though, honestly. Because a lot of my trades are very good and are executed well. I have talent. However, lesser quality trades and trades which are inappropriately sized/ attempted too many times bring down that P/L. I'm not the type of trader to ignore a stop, I'm more the trader that just widdles their account down with small losses. I trade live because at this point, sim has lost its value, live trading is the ultimate teacher. So I do trade live but I just don't go big like I did before, I keep it small.
I could show you trades that I did great on and make people think I'm killing it but I really just don't need the validation. I don't care, I'm real about it. I just want to get better. I don't need people to think I'm a genius, I'm just trying to make some money.
Psychologically, to be honest with you, I currently feel beaten down and exhausted. I put a lot of energy into this, and sometimes I work myself physically sick, it's happened multiple times. About once a week, usually Saturday, I get a headache that lasts all day. My body's stress rebound mechanism you might call it. Getting over one of those sick periods now, which is why I barely even traded this week. I know I missed a lot of volatility this week and some A+ setups but I really just don't give a shit lol. I just currently don't have the mental capital, I think anyone who's been day trading every day for a year or more can understand what I mean by that. I'm still being productive though. Again, I'm not here to present an image of some badass trader, just keeping it real. To give something 100% day after day while receiving so much resistance, it takes a toll on you. So a break is necessary to avoid making bad trading decisions. That being said, I'm progressing more and more and eliminating those lesser quality trades and identifying my bad habits. I take steps to control those habits and strengthen my good habits such as having a solid routine, doing review and market research, taking profits at the right times, etc.
So maybe I can give some advice to some that are new to day trading, those who are feeling lost, or just in general thinking "...What the fuck..." I thought that every night for the first 6 months lol.
First of all, manage expectations. If you read my story of how I came to be a trader, you can see I had a false impression of trading in many aspects. Give yourself a realistic time horizon to how progress should be made. Do not set a monetary goal for yourself, or any time-based goal that is measured in your P/L. If you tell yourself, "I want to make X per day, X per week, or X per year" you're setting yourself up to feel like shit every single day when it's clear as the blue sky that you won't reach that goal anytime soon. As a matter of fact, it will appear you are moving further AWAY from that goal if you just focus on your P/L, which brings me to my next point.
You will lose money. In the beginning, most likely, you will lose money. I did it, you'll do it, the greatest Paul Tudor Jones did it. Trading is a skill that needs to be developed, and it is a process. Just look at it as paying your tuition to the market. Sim is fine but don't assume you have acquired this skill until you are adept at trading real money. So when you do make that leap, just trade small.
Just survive. Trade small. get the experience. Protect your capital. To reach break even on your bottom line is a huge accomplishment. In many ways, experience and screen time are the secret sauce.
Have a routine. This is very important. I actually will probably make a more in-depth post in the future about this if people want it. When I first started, I was overwhelmed with the feeling "What the fuck am I supposed to DO?" I felt lost. There's no boss to tell you how to be productive or how to find the right stocks, which is mostly a blessing, but a curse for new traders.
All that shit you see, don't believe all that bullshit. You know what I'm talking about. The bragposting, the clickbait Youtube videos, the ads preying on you. "I made X amount of money in a day and I'm fucking 19 lolz look at my Lamborghini" It's all a gimmick to sell you the dream. It's designed to poke right at your insecurities, that's marketing at it's finest. As for the bragposting on forums honestly, who cares. And I'm not pointing fingers on this forum, just any trading forum in general. They are never adding anything of value to the community in their posts. They never say this is how I did it. No, they just want you to think they're a genius. I can show you my $900 day trading the shit out of TSLA, but that doesn't tell the whole story. Gamblers never show you when they lose, you might never hear from those guys again because behind the scenes, they over-leveraged themselves and blew up. Some may actually be consistently profitable and the trades are 100% legit. That's fantastic. But again, I don't care, and you shouldn't either. You shouldn't compare yourself to others.
"Everyone's a genius in a bull market" Here's the thing.. Markets change. Edges disappear. Trading strategies were made by traders who traded during times when everything they did worked. Buy all the breakouts? Sure! It's the fucking tech bubble! Everything works! I'm sure all those typical setups used to work fantastically at some point in time. But the more people realize them, the less effective they are. SOMEONE has to be losing money on the opposite side of a winning trade, and who's willing to do that when the trade is so obvious? That being said, some things are obvious AND still work. Technical analysis works... sometimes. The caveat to that is, filters. You need to, in some way, filter out certain setups from others. For example, you could say, "I won't take a wedge pattern setup on an intraday chart unless it is in a higher time frame uptrend, without nearby resistance, and trading above average volume with news on that day."
Have a plan. If you can't describe your plan, you don't have one. Think in probabilities. You should think entirely in "if, then" scenarios. If X has happens, then Y will probably happen. "If BABA breaks this premarket support level on the open I will look for a pop up to short into."
Backtest. Most traders lose mainly because they think they have an edge but they don't. You read these books and all this stuff online telling you "this is a high probability setup" but do you know that for a fact? There's different ways to backtest, but I think the best way for a beginner is manual backtesting with a chart and an excel sheet. This builds up that screen time and pattern recognition faster. This video shows how to do that. Once I saw someone do it, it didn't seem so boring and awful as I thought it was.
Intelligence is not enough. You're smarter than most people, that's great, but that alone is not enough to make you money in trading necessarily. Brilliant people try and fail at this all the time, lawyers, doctors, surgeons, engineers.. Why do they fail if they're so smart? It's all a fucking scam. No, a number of reasons, but the biggest is discipline and emotional intelligence.
Journal every day. K no thanks, bro. That's fucking gay. That's how I felt when I heard this advice but really that is pride and laziness talking. This is the process you need to do to learn what works for you and what doesn't. Review the trades you took, what your plan was, what actually happened, how you executed. Identify what you did well and what you can work on. This is how you develop discipline and emotional intelligence, by monitoring yourself. How you feel physically and mentally, and how these states affect your decision-making.
Always be learning. Read as much as you can. Good quality books. Here's the best I've read so far;
Market Wizards -Jack Schwager
One Good Trade -Mike Bellafiore
The Daily Trading Coach -Bret Steenbarger
Psycho-cybernetics -Maxwell Maltz
Why You Win or Lose -Fred Kelly
The Art and Science of Technical Analysis -Adam Grimes
Dark Pools -Scott Patterson
Be nimble. Everyday I do my research on the symbols I'm trading and the fundamental news that's driving them. I might be trading a large cap that's gapping up with a beat on EPS and revenue and positive guidance. But if I see that stock pop up and fail miserably on the open amidst huge selling pressure, and I look and see the broader market tanking, guess what, I'm getting short, and that's just day trading. The movement of the market, on an intraday timeframe, doesn't have to make logical sense.
Adapt. In March I used to be able to buy a breakout on a symbol and swing it for the majority of the day. In the summer I was basically scalping on the open and being done for the day. Volatility changes, and so do my profit targets.
Be accountable. Be humble. Be honest. I take 100% responsibility for every dime I've lost or made in the market. It's not the market makers fault, it wasn't the HFTs, I pressed the button. I know my bad habits and I know my good habits.. my strengths/ my weaknesses.
Protect yourself from toxicity. Stay away from traders and people on forums who just have that negative mindset. That "can't be done" mentality. Day trading is a scam!! It can certainly be done. Prove it, you bastard. I'm posting to this particular forum because I don't see much of that here and apparently the mods to a good job of not tolerating it. As the mod wrote in the rules, they're most likely raging from a loss. Also, the Stocktwits mentality of "AAPL is going to TANK on the open! $180, here we come. $$$" , or the grandiose stories, "I just knew AMZN was going to go up on earnings. I could feel it. I went ALL IN. Options money, baby! ka-ching!$" Lol, that is so toxic to a new trader. Get away from that. How will you be able to remain nimble when this is your thought process?
Be good to yourself. Stop beating yourself up. You're an entrepreneur. You're boldly going where no man has gone before. You've got balls.
Acknowledge your mistakes, don't identify with them. You are not your mistakes and you are not your bad habits. These are only things that you do, and you can take action necessary to do them less.
It doesn't matter what people think. Maybe they think you're a fool, a gambler. You don't need their approval. You don't need to talk to your co-workers and friends about it to satisfy some subconscious plea for guidance; is this a good idea?
You don't need anyone's permission to become the person you want to be.
They don't believe in you? Fuck 'em. I believe in you.
submitted by indridcold91 to Daytrading [link] [comments]

List of Resources for New/Aspiring Traders

This is a post I made about 5 years ago and I'm reuploading it for visibility. Check back often as this will be getting reformatted and edited over the coming days to make sure it's upto date.
Price Action Attack Map N/A ------------------------------
http://www.forexfactory.com/showthread.php?t=520423 FXLester's guide to price action
http://www.forexfactory.com/showthread.php?t=2331 James16's guide to price action
http://forums.babypips.com/free-forex-trading-systems/58037-price-action-matters.html "Price Action That Matters by Aaron Kruger
https://www.forex4noobs.com/ Forex 4 noobs price action battle plan!
GAMES N/A ------------------------------------------------------
http://chartgame.com/ Personally, i think this is pure genius! I love it, it's an amazing way to brush up on your chart skills and it's actually pretty cool to see how things went. It throws a random chart at you and you have to day trade it, it'll tell you how you did versus a buy & hold strategy and... well it's just really really good!
BLOGS N/A -------------------------------------------------------------------------------------------
https://jkonfx.com/ Technical & fundamental news on currencies. I would advise newer traders not to trade solely on external opinions because that won't cement your own methodology or reasons for trading. Excellent website for if you want an overview of the markets and daily reports. Also includes a trading journal and a lot of media attention.
http://www.stocktradingtogo.com/ A good blog for new traders/ investors. Lot of ‘top 10 lists’ to flick through.
http://www.tradingheroes.com/ This is absolutely amazing! I can't put a value on this! It's one of the best gems of the internet. Podcasts interviewing successful traders, some are notable such as 50pips, Walter Peters & Chris Kapre.
http://www.nobrainertrades.com/ Found this when doing the podcast link below, it's actually really good high quality stuff. Blog based with plenty of educational material.
http://www.chatwithtraders.com A weekly podcast that interviews successful traders. Thank you gumballfrank for this.
http://ftp.traderkingdom.com/ Not had much of a chance to check this out, but first impression are nice!
http://www.forexlive.com Heavily oriented towards fundamentals. Good news portal submitted by WinterTires thanks!
http://www.tradeciety.com/ Heavily visually oriented perfect for beginners! Lots of infographics and info. Submitted by gumballfrank
http://orderflowforex.com/ A blog that focuses on Personal Development as a trader. Absolutely essential. It'll help to focus you on your journey to trading omnipotence!
ONLINE SCHOOLS & LEARNING PORTALS N/A -------------------------------------------------------------------------------
http://theinnercircletrader.com/Tutorials.htm Best tutorials in the world by a secret trillionaire.
http://www.tradimo.com A superb website dedicated to training people to become better investors traders for free.
http://www.babypips.com One of the best free online schools which tracks your progress and teaches you heaps on information. The forum is the gem, where many people keep trade journals and put up their strategies. Don't copy them but borrowing concepts and ideas is good.
http://www.forexpeacearmy.com/forex-forum/forex-military-school-complete-forex-education-pro-banke Unbelievably thorough! Education on forex trading, literally everything is covered.
http://stockcharts.com/school/doku.php?id=chart_school Very wide ranging resource that focuses mainly on technical analysis.
http://www.investopedia.com This should be a given, but seriously – this place is the Wikipedia of trading/ investing.
http://www.swing-trade-stocks.com/swing-trading-basics.html Actually a really good learning resource that mentions psychology and momentum among other things.
http://thepatternsite.com/Psychology.html Really good information on trading psychology – something that often goes unnoticed with beginners.
http://www.finvids.com/ Cool little website with videos on candle patterns and chart patterns.
http://www.fxacademy.com/ Appears to be a free trading academy. Not tried it personally, but it looks really good. With plenty of videos for visual learners.
http://forex-strategies-revealed.com/intro PEOPLE IN NEED OF A STRATEGY CHECK THIS OUT List of strategies, literally everyone you'll ever need.
ARTICLES OF INTEREST N/A -----------------------------------------------------------------------------
http://orderflowforex.com/2014/11/trading-books-proper-orde There's a lot of information out there, it's overwhelming. You might think "Where the hell do I start?!" well here's your answer! The books you have to read... and in what order! Super important for beginners.
http://www.stocktradingtogo.com/2009/05/14/trading-psychology-stages-investor-emotions/ An article on the ’14 stages of investor emotions’ knowing who you are and what is happening to you can lead you to make more calculated decisions.
http://fourhourworkweek.com/2014/10/15/money-master-the-game/ Tim Ferris, author of The 4 Hour Work Week interviews Tony Robbins to find out the success behind the worlds best investors. Talking about morning routines, peak performance & mastering money!
http://www.tradeciety.com/category/trading-blog/ Best trading & investing blogs and articles as picked by tradeciety.com
http://www.forextradetracker.com/blog/understanding-forex-jargon-a-glossary-for-beginners Forex jargon glossary for beginners. Submitted by gumballfrank
http://orderflowforex.com/order-flow-trading/what-is-order-flow-trading/ What is order flow trading? Essential for beginners
FORUMS N/A -------------------------------------------------------------------------------------------------
http://www.forexpeacearmy.com/ Excellent learning resource, main focus is to help avoid people getting scammed.
http://www.trade2win.com/boards/ Massive forum for beginners to talk to more experienced traders – very active community.
http://www.forexfactory.com/forum.php Much like trade2win but more focused towards forex.
http://forums.babypips.com/ Another forum dedicated to forex traders. You'll find people keeping good strategies here, list them via most views first to find the real gems.
MISCELLANEOUS RESOURCES N/A --------------------------------------------------------------------
http://www.forexfactory.com/showthread.php?t=520423 Some beast called Lester showing you how it is! Read this!
http://theinnercircletrader.com/Tutorials.htm If you watch all of these you're already a millionaire!
http://www.forex-warez.com/Free%20Download/ Every book you could ever want on trading, investing, market psychology, strategies etc.
http://www.forextradetracker.com/ SUPER IMPORTANT This website is paramount to your success, still in development but will provide users with an easy way to document trades. Success is determined by your willingness to follow through with the boring bits so keep this one in your bookmarks.
http://www.hotcandlestick.com/candlestick-pattern-flashcard-game.html Super useful Flashcard game that helps you to remember important candlestick patterns.
http://www.hotcandlestick.com/forex_charts.htm Important candlestick patterns that have appeared on the major currency pairs. Good for a quick overview.
http://www.freeonlinetradingeducation.com/chart-school.html Website offering visual illustration & practical applications of popular candlestick patterns.
http://www.hotcandlestick.com/candles.htm Glossary of candlestick patterns.
http://www.incrediblecharts.com/topic/Technical_Analysis Another resource for learning technical analysis. Not particularly thorough but useful for basic concepts.
http://www.forexschoolonline.com/ Market overviews and trading opportunity videos provided, along with educational videos and the like.
http://www.tradersdna.com/education/ Another trading education site focusing more on forex.
submitted by Dannyboi93 to forexit [link] [comments]

https://www.m1finance.com/articles-2/best-financial-websites/

What are the best financial websites?
The best financial sites offer a wealth of resources to people ranging from beginning investors to seasoned professionals. Some of these websites come from recognized leading financial media sources while others offer personal and investment financial advice from bloggers who have been successful. We have compiled a list of the best financial sites and finance blogs that you should include in your list of reading.
Why should I read the top financial websites?
In the past, people had to rely on financial advisors to gain information and education about finance. That notion has changed with the availability of the internet. There is a variety of top financial websites with more coming online each day. Since not everyone has a background in finance, reading some of the best websites is a great way for you to become more educated and confident about finance.
When did financial advice websites begin?
Financial websites started in the late 1990s with many more coming online in the 2000s. Some, such as Bankrate, started out in print decades ago before transforming into one of the best financial websites. Financial planning websites can help you to learn how to manage your money and to build wealth in a more effective way.
Learn about the best financial websites and financial blogs from M1 Finance Users of the best financial websites today
According to data from Statista, the top three leading finance websites by visitors include Yahoo! Finance with 70 million visitors per month, MSN Money Central with 65 million monthly visitors, and CNN Money with 50 million monthly visitors. The need for financial education and literacy is clear. According to the Financial Educators Council, the average test result for financial literacy across all age groups was a low 63%.
According to the Next Web, more than one million new users of the internet are coming online every day. There are reportedly over 4.3 billion internet users who are now online around the world. The global reach of the internet makes it an ideal vehicle for helping people around the world to become financially literate.
What are some of the best general financial websites?
These best financial websites are leaders in the provision of general financial information. Investors of all levels can benefit by making it a habit to read these top financial websites on a regular basis.
Yahoo!Finance
Yahoo! Finance aggregates finance news from around the internet. It also allows you to purchase company reports. You can find charts, price quotes, information about competitor companies, earnings reports and key ratios for free.
CNBC Markets
CNBC Markets provides up-to-date news about the global markets. In the news section, you can find listings of developments in the U.S. stock markets as well as for developments across Europe and Asia.
Forbes Money
Forbes Money is a leader in the finance and business world. Readers who are invested in topics such as investing, business and leadership can all find something that appeals to them in Forbes. In addition to finance topics, Forbes also covers related financial areas.
Investing.com
Investing.com is one of the best financial sites for people who are interested in active trading. On the home page, you can view forex prices, ETFs, commodities prices and futures contracts. The news section offers in-depth articles. Investors check this site daily to see current quotes for a variety of different investments.
Bloomberg
Bloomberg is one of the best financial websites for market data. On its news section, you can choose from different categories by region, general financial information, industry and asset class. You can see the historical information for a queried stock, which is helpful in identifying how different types of news reports impact the performance of the stock.
Reuters
Reuters is another website for obtaining market data. It offers broad coverage of stock news, sector news and market news. You can also find historical information, as well as an auto-complete stock name feature that is helpful search tool.
GoogleFinance
GoogleFinance is one of the best financial sites because of its search functionality. You can find an abundance of information about price quotes, news, competitor companies, earnings reports and key ratios. Keep in mind that some news items are not in real-time.
Read about the best financial websites and financial blogs from M1 Finance The Wall Street Journal
The Wall Street Journal has been released in print format since 1989. Online, it is reviewed as one of the top financial websites around the world. Readers from across the globe subscribe to the Wall Street Journal for its business news. The WSJ also offers its readers email alerts about news and stock information.
Investopedia
Investopedia is one of the best financial websites because of its emphasis on financial education. You are able to start a watchlist to track your stocks and can take courses on investing through its Investopedia Academy. The many articles offered by Investopedia is a rich resource for people who want to learn more about the stock market and financial principles.
Financial Times
The Financial Times is another leading publication that is read around the world. It offers comprehensive international coverage of financial news. However, you are only able to read the headlines for free. With a paid subscription, you can read the detailed news reports and gain access to diversified content.
NerdWallet
NerdWallet is one of the best financial websites for comparisons. The site allows you to compare investment accounts, high-yield savings accounts, CDs, debit cards, mortgages and credit cards. The site releases a best list for every category annually.
The Economist
The Economist is another go-to source for the latest in international news. It is authoritative and offers in-depth coverage of politics, finance, business, technology and science.
BankRate
BankRate was launched in 1976 as a newsletter and is highly respected. It has become one of the best financial websites available on the internet. You can find a wealth of data on mortgages, bank rates and credit cards. It also offers online financial advice about financial planning, investing and saving for retirement.
Barron’s
Barron’s is a weekly newspaper that has been published since 1921. On its website, it provides news about market developments in the U.S., financial information and related statistics. The website contains interest sections with in-depth coverage contained within each. Latest financial news can be found on its home page, while interest sections include technology, retirement, options and funds.
SEC
The SEC offers primary source material such as the quarterly and annual financial reports that have been filed with the SEC. These include publicly-traded companies’ filings. All of this data can be accessed through EDGAR on the SEC’s website by searching for a stock ticker symbol or the name of a company.
Kiplinger
Kiplinger ranks as one of the top financial advice websites. It is a sound resource for financial advice with coverage on how to save money and avoid fees. Kiplinger has a section that covers the basics of personal finance and has quizzes on a variety of finance topics.
Motley Fool
The Motley Fool offers investors in-depth analysis on general financial information. It also has stock market analyses and insights. While the name might be odd, the financial services company encourages its readers to become financially independent through information and research. Access to advice from experts is offered for an additional charge.
Money Morning
Money Morning boasts a free daily newsletter on information that can help you to become financially independent. The site’s layout is divided into major categories as well as hot topics sections. You can find advice on different stocks with in-depth analyses.
What are some of the best financial websites for stocks and trading?
If you are wanting to focus on the best financial websites for stocks, you can cut down your search time by including in your reading these best financial sites that we have listed for you. Each of these sites allows you to get the information that you need about different stocks and companies so that you can make informed investment decisions.
Investigate the best financial websites and financial blogs from M1 Finance CNN Markets
CNN is among the top news networks in the world. It has a markets section that simplifies browsing of economic news. The markets section contains current financial news, commodities changes, trending stocks and much more. Each of these topics has its own dedicated page for more in-depth information. If you want a fast update about the market news, CNN is a great source.
MarketWatch
MarketWatch has a news viewer section that gives you access to stories that have timestamps. News items are automatically updated, and its coverage includes global stock markets, forex, commodities and other classes of assets. It also offers data about macroeconomics and fundamental analysis information.
Seeking Alpha
Seeking Alpha aggregates data from other financial sites. You can find trending finance articles from across the internet together with the top-performing stocks and recent news. Seeking Alpha articles range from types of investment to investment strategies.
NASDAQ
NASDAQ offers the latest analysis and stock market news. You can find information on companies and their competitors, the latest news and see how the markets are performing. The site also provides quote updates and financial tools to aid in your investing endeavors.
Morningstar
Morningstar allows you to view annual returns of ETFs and mutual funds for the past 10 years. Quarterly and monthly returns for the past five years are also available on this site. You can review the after-tax returns of different funds so that you can gain a better idea of investor earnings.
The Street
The Street is one of the best financial sites for news about investing. When you read The Street, you can find opinions, recommendations, current events and how to get started in the market. There are also paid services that are available to investors, including market analyses and advanced strategies.
Zacks Investment Research
Zacks Investment Research requires you to sign up for a free membership to gain access to its data on funds and stocks. You are able to use this site to conduct comprehensive research. Zacks gives you access to independent reports that can help you when you are trying to build a well-diversified portfolio.
Review the best financial websites and financial blogs from M1 Finance NYSE
If you are invested in the stock market, the NYSE should be included on your list of best financial sites to read. The NYSE access includes listings information, markets, historical and real-time market data. All investors should make a habit of checking the NYSE’s site on a regular basis to stay informed.
What are some of the best financial blog sites?
Our list of best financial websites contains multiple finance blogs. These blogs offer online financial advice and financial planning tools while also providing answers to common investing questions. A list of the best financial sites would not be complete without including these top financial websites.
The Balance
The Balance offers articles that are divided into categories such as retirement, investing, debt management and banking. The articles give advice about many areas of finance and aim to increase your financial literacy.
Wise Bread
Wise Bread is a community of personal finance bloggers and finance experts. The goal is to help people to live well financially and to derive more enjoyment out of life. It includes multiple sections, including personal finance, frugal living, life hacks, credit cards and career advice.
Financial Post
The Financial Post offers a mix of financial news and analysis together with personal finance advice. The site targets a range of people from young investors to high net worth investors.
Money Crashers
Money Crashers is a comprehensive site that covers nearly all things related to finance. You can find information about debt, credit, investments, living frugally, small business and family. The goal is to educate those who are looking to make sound financial decisions.
The Simple Dollar
The Simple Dollar, written by the author of “365 Ways to Live Cheap!”, provides numerous tips for frugal living. It is one of the best financial planning websites for people who are wanting to gain control of their finances. Reading this blog can give you answers to your financial questions about how to reduce your expenses so that you can live within your means.
Good Financial Cents
Good Financial Cents is one of the best financial sites for people who want to learn about personal finance. It is written by Jeff Rose, who also has a YouTube Channel featuring many of his blog topics. The focus of this certified financial advisor’s blog is to educate people on how to become financially independent.
Financial Samurai
The Financial Samurai was established in 2009 by Sam Dogen. He was able to leave his job in corporate America after 13 years by saving at least 50% of his after-tax income from the time that he began his professional job. He invested his savings in real estate, bonds, stocks and CDs in order to have enough passive income to be able to quit his job and focus on his blog. He offers information about wealth management, financial products, real estate and more.
Dave Ramsey
Dave Ramsey is a well-known expert in the finance field who offers financial planning tools and personal finance education. His blog is recognized as one of the top financial planning websites and is used by millions of people to learn how to build wealth, reduce debt and increase their savings.
Mint Life
Mint Life is among the best financial sites for people who are looking for a broad personal finance resource. The blog contains a large list of money management categories with a range of articles available in each. The categories include everything from student finances, housing finances, food budgets, to much more.
Mr. Money Mustache
Mr. Money Mustache is a credible finance site with a quirky name. The author, who was able to retire at age 30, started his blog in 2005 when he was 36 years old. The blog’s mission is to allow you to learn how to live below your means and to build your savings quickly so that you can retire early, too.
Incorporating some of the best financial websites into your daily life can help you to learn more about how you can attain financial freedom by budgeting, living frugally and making saving a habit. You can take the information that you learn from these sites and apply it when you invest with M1 Finance.
Learn how M1 can empower you to manage your money and earn more
You can use your acquired knowledge from top financial websites to manage your own portfolio with M1. Instead of paying someone else to build a portfolio, you are able to build one yourself with M1. You have the control to customize your portfolio in order to meet your needs or you the option to choose from 80 prebuilt expert portfolios that were created to meet different goals, timeframes and risk levels. The sleek and intuitive design of the M1 Finance platform makes managing and building your portfolio simple.
M1 Finance is an online brokerage firm that blends key financial principles with digital technology to provide investors with a straightforward and seamless investing experience. M1 Finance helps you to manage your money in a more effective way so that you can earn more. The platform uses automated reinvestments and dynamic portfolio rebalancing to save you time. These features help to keep your portfolio in line to meet your financial goals.
When you choose M1 Finance, you are able to invest for free. M1 does not charge management fees or commissions, and you will be able to access the powerful automation from anywhere with its mobile investing capabilities. Get started today by signing up online or call us to learn more about investing at 312-600-2883. DISCLAIMER: Please consult your finance and tax professionals to learn more about investing and taxes.
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submitted by luis3445 to M1Finance [link] [comments]

Forex should not be the only market you follow and trade.

This has been mentioned before but I really need all of the new people to pay attention to this.
Commodities, Bond Prices, Stocks, and Currencies are all related.
Understand what interest rates do to a currency. Understand how another countries currency can be MORE appealing to institutions and businesses because of the YIELD (key word) of their currency.
You should not only be looking at Forex charts. You should be looking at indexes, gold, oil, and understanding how their value affects economies that rely on them.
themoreyouknow.gif
submitted by HoyES to Forex [link] [comments]

r/Stocks Technicals Tuesday - Dec 25, 2018

Feel free to talk about technical analysis here (not argue against it), but before you ask any question make sure you see the following information:
Technical analysis (TA) uses historical price movements, real time data, indicators based on math and/or statistics, and charts; all of which help measure the trajectory of a security. TA can also be used to interpret the actions of other market participants and predict their actions:
Measure: Is the security's price trending, has it dipped or is it a falling knife? Interpret: Does the current price mean investors think it's undervalued or overvalued; when did they buy/sell more and why? Predict: If price reaches a certain point, will there be a rally or get rejected?
The main benefit to TA is that everything shows up in the price (commonly known as priced in): All news, investor sentiment, and changes to fundamentals are reflected in a security's price.
TA is best used for short term trading, but can also be used for long term.
Intro to technical analysis by Stockcharts chartschool and their article on candlesticks
Terminology
Useful indicators
Methods or Systems
Strategies: See the TA wiki here as this will be a work in progress, feel free to reply with your own strategy.
See our past daily discussions here. Also links for: Technicals Tuesday, Options Trading Thursday, and Fundamentals Friday.
submitted by AutoModerator to stocks [link] [comments]

r/Stocks Technicals Tuesday - Nov 27, 2018

Feel free to talk about technical analysis here (not argue against it), but before you ask any question make sure you see the following information:
Technical analysis (TA) uses historical price movements, real time data, indicators based on math and/or statistics, and charts; all of which help measure the trajectory of a security. TA can also be used to interpret the actions of other market participants and predict their actions:
Measure: Is the security's price trending, has it dipped or is it a falling knife? Interpret: Does the current price mean investors think it's undervalued or overvalued; when did they buy/sell more and why? Predict: If price reaches a certain point, will there be a rally or get rejected?
The main benefit to TA is that everything shows up in the price (commonly known as priced in): All news, investor sentiment, and changes to fundamentals are reflected in a security's price.
TA is best used for short term trading, but can also be used for long term.
Intro to technical analysis by Stockcharts chartschool and their article on candlesticks
Terminology
Useful indicators
Methods or Systems
Strategies: See the TA wiki here as this will be a work in progress, feel free to reply with your own strategy.
See our past daily discussions here. Also links for: Technicals Tuesday, Options Trading Thursday, and Fundamentals Friday.
submitted by AutoModerator to stocks [link] [comments]

r/Stocks Technicals Tuesday - Dec 11, 2018

Feel free to talk about technical analysis here (not argue against it), but before you ask any question make sure you see the following information:
Technical analysis (TA) uses historical price movements, real time data, indicators based on math and/or statistics, and charts; all of which help measure the trajectory of a security. TA can also be used to interpret the actions of other market participants and predict their actions:
Measure: Is the security's price trending, has it dipped or is it a falling knife? Interpret: Does the current price mean investors think it's undervalued or overvalued; when did they buy/sell more and why? Predict: If price reaches a certain point, will there be a rally or get rejected?
The main benefit to TA is that everything shows up in the price (commonly known as priced in): All news, investor sentiment, and changes to fundamentals are reflected in a security's price.
TA is best used for short term trading, but can also be used for long term.
Intro to technical analysis by Stockcharts chartschool and their article on candlesticks
Terminology
Useful indicators
Methods or Systems
Strategies: See the TA wiki here as this will be a work in progress, feel free to reply with your own strategy.
See our past daily discussions here. Also links for: Technicals Tuesday, Options Trading Thursday, and Fundamentals Friday.
submitted by AutoModerator to stocks [link] [comments]

The intelligent investors guide to cryptocurrency: Part 3b - Pricing and liquidity

*Introductions: I'm joskye. A cryptocurrency investor and SDC holder. *
...
Hi again. This is the third part in our ongoing series on how to trade better and determine intelligent investments in cryptocurrency for the future.
Part 3b continues where I left off with a discussion about price metrics specifically, what determines the price and the importance of liquidity:
...
The day traders:
As I mentioned in my previous article, as of writing almost every cryptocurrency is determined purely by speculative value.
Thus the absolute price of a given cryptocurrency is determined solely by the day traders and specifically the last price it was agreed that currency would be sold at with confirmation of that price by a buyer who bought it.
People say lots of things determine the price; marketcap, liquidity, value proposition, revenues generated by the coin, the number of said coin in circulation but ultimately it comes down to the number of buyers and number of sellers competing for that coin.
Perhaps the other thing is the size of said market relative to the money held by the players in it.
For instance in cryptocurrency Bitcoin is still the biggest player in the game. It carries a per unit price of $900 per coin. There are currently 16,090,137 (16 million) coins in circulation giving it a total marketcap value of [$900 x 16090137 =] $14481123300 or 14.48 billion USD.
Shadowcash looks even more meagre compared to the total cryptocurrency marketcap with only 0.048% of the total cryptocurrency sphere.
To any Shadowcash holders despairing at this point, relax. There are over 707 cryptocurrencies trading as of writing and SDC holds the 27th ranking in terms of market cap. In such a competitive field, filled with scams that's pretty good. Moreso when you consider that SDC is a legitimate technology and is currently probably very undervalued.
...
Lets look at the rich list for bitcoin:
Why did I just talk about this?
In cryptocurrency I see this happening on the markets all the time. Indeed market manipulation effects every single cryptocurrency eventually.
...
Market manipulation!
Large holders of valuable, high marketcap coins will often make multiple small volume purchases of less valuable, low marketcap coins. Often this will follow announcements regarding developments in that low marketcap coin.
Low volume buying in a market with low daily trading volume can gradually drive up the price attracting an influx of buyers into that coin; often they will make larger volume purchases of it which helps drive up the price much further. This will trigger a further chain of buyers experiencing FOMO (fear of missing out, detailed in Part 2) who will drive up the price even further. The price will pump. Often will smaller cap cryptocurrencies this may result in a sudden 20, 40, 60 or even +100% increase in value often over a very short time space (1-2 days, 1-2 weeks maximum).
The only way to discern if the sudden rise in coin value is due to pre-rigged market manipulation is to look at:
You are looking for organic, gradual growth based on a solid value proposition. Sudden large spikes in value should make you pause and wonder if it's worth waiting for a gradual correction (organic drop) in price before entering your buy order.
Do not fall for a pump and dump. Stick to the lessons covered in previous parts of this guide (especially part 3a and 2) and you will be much less likely to lose money in the long run trading and investing in cryptocurrencies.
...
The pattern of change on daily trading volume, the order book and liquidity:
Lets look at SDC and Bitcoin again. This time we are going to compare the daily trading volume (last 24 hours) in USD.
I'd just like to use this opportunity to point out and reinforce the idea that day traders not holders dictate the daily price of an asset. I'd also like to point out daily global trading volume on Forex is $4800 billion which makes Bitcoin a very small fish in the broader arena of global finance and trade i.e. Bitcoin is still very vulnerable to all the price manipulation tactics and liquidity issues I am going to be describing in this article by bigger players with richer pockets.
The daily trading volume also gives you an idea of how much fiat currency you can invest into a given cryptocurrency before you suddenly shift the price.
A sudden rise in coin price heavily out of proportion to the rise in daily trading volume should be the first sign to alert you to a pump & dump scam.
Daily trading volume should show a steady increase over time with sustained buy support at new price levels; this is a good marker of organic, sustainable growth.
...
For more detail you can now look at the depth chart:
The depth chart is very useful to know how much fiat currency is required to cause the spot price of a given cryptocurrency to rise or fall by a given amount.
NB the price of most cryptocurrencies is expressed in Bitcoin because it has the largest market cap and daily trading volume of all cryptocurrencies by a very large margin and because with a few exceptions (Ethereum, Monero) most cryptocurrencies do not have routes to directly purchase via fiat currency without first purchasing Bitcoin.
Liquidity is super important. People often complain about a market lacking liquidity but that is often because they are trading in fiat volumes which far exceed the daily trading fiat volumes of the cryptocurrency they are referring to. If you are investing or trading in a cryptocurrency, always factor in the your personal liquidity and need for liquidity relative to that of the cryptocurrency you are investing in. In other words don't expect to make a profit next day selling 'cryptocurrency x' if the size your single buy order composes >90% of the buy orders on the market for 'cryptocurrency x' that day (indeed in such a scenario be very prepared to sell at a loss next day if you absolutely have to)!
There are certain patterns on a depth chart that make me believe a significant, sustained price rise is imminent: One example occurs when there is a very large volume of buy orders (>25% of total buy volume within 5% of current price) very close to the current (spot) price, and a very large number of sell orders close to but significantly above the spot price (approx 25% total sell volume within 10% of current price) and especially if the total buy order volume is a significantly higher percentage than it has previously been. This simply indicates high demand at current price which may soon outstrip supply. Again I stress that these patterns can be manipulated easily by wealthy traders.
...
The order book is another way of looking at the depth chart and allows you to see the specific transactions occurring that compose daily trading volume by the second!
I find it useful because it allows me to identify:
...
The price charts:
Discussions about price charts could be endless. I'm not going to go into too much detail, mostly because I'm an investor who believes the value proposition, good consistent development, decent marketing and communications will ultimately trump spot prices and adverse (or positive) short term price trends in the future.
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The news cycle:
...
Other interesting points: The 'coin x' scenario and the ridiculousness of marketcap:
'Coin X' is an imaginary hypothetical coin. There are only 10 in circulation. It has no value proposition beyond it's speculative value i.e. it will never generate a revenue independent of it's speculative value.
I'd like to point out the similarities between ZCash and 'coin x' (especially during it's launch).
...
Lessons:
...
Finally why am I writing this?
I mean I just spoke openly about how SDC and indeed any cryptocurrencies (or purely speculative assets) price can be manipulated in the short term.
Well SDC has an incredible value proposition that could generate and attract large amounts of non-speculative fiat currency into it's ecosystem. I already covered that in part 3a (https://www.reddit.com/Shadowcash/comments/5lhh6m/the_intelligent_investors_guide_to_cryptocurrency/).
For this reason I think the short term speculative pump and dumps in SDC will eventually be replaced by a more sustained, larger buy support. I suspect this will occur when the marketplace is released and certain other announcements are released.
For this reason I declare my opinion that Shadowcash is the best cryptocurrency investment of 2016 and I believe it will be again by March 2017.
...
References:
1. Coinmarketcap rankings: https://coinmarketcap.com/all/views/all/ 2. Coinmarketcap daily trading volumes https://coinmarketcap.com/currencies/volume/24-hou 3. Bitinfocharts - Top 100 Richest Bitcoin addresses: https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html 4. Crypto ID - Shadowcash Rich list: https://chainz.cryptoid.info/sdc/#!rich 
...
Disclaimer: All prices and values given are as of time of writing (Midday 08-Jan-2016). I am not responsible for your financial decisions, nor am I advising you take a particular financial position. Rather I am sharing my experiences and hoping you form your own opinions and insights from them. Full disclosure: I have long positions in Ethereum (ETH), Shadowcash (SDC), ICONOMI (ICN), Augur (REP) and Digix (DGD).
submitted by joskye to Shadowcash [link] [comments]

r/Stocks Technicals Tuesday - Dec 04, 2018

Feel free to talk about technical analysis here (not argue against it), but before you ask any question make sure you see the following information:
Technical analysis (TA) uses historical price movements, real time data, indicators based on math and/or statistics, and charts; all of which help measure the trajectory of a security. TA can also be used to interpret the actions of other market participants and predict their actions:
Measure: Is the security's price trending, has it dipped or is it a falling knife? Interpret: Does the current price mean investors think it's undervalued or overvalued; when did they buy/sell more and why? Predict: If price reaches a certain point, will there be a rally or get rejected?
The main benefit to TA is that everything shows up in the price (commonly known as priced in): All news, investor sentiment, and changes to fundamentals are reflected in a security's price.
TA is best used for short term trading, but can also be used for long term.
Intro to technical analysis by Stockcharts chartschool and their article on candlesticks
Terminology
Useful indicators
Methods or Systems
Strategies: See the TA wiki here as this will be a work in progress, feel free to reply with your own strategy.
See our past daily discussions here. Also links for: Technicals Tuesday, Options Trading Thursday, and Fundamentals Friday.
submitted by AutoModerator to stocks [link] [comments]

r/Stocks Technicals Tuesday - Dec 18, 2018

Feel free to talk about technical analysis here (not argue against it), but before you ask any question make sure you see the following information:
Technical analysis (TA) uses historical price movements, real time data, indicators based on math and/or statistics, and charts; all of which help measure the trajectory of a security. TA can also be used to interpret the actions of other market participants and predict their actions:
Measure: Is the security's price trending, has it dipped or is it a falling knife? Interpret: Does the current price mean investors think it's undervalued or overvalued; when did they buy/sell more and why? Predict: If price reaches a certain point, will there be a rally or get rejected?
The main benefit to TA is that everything shows up in the price (commonly known as priced in): All news, investor sentiment, and changes to fundamentals are reflected in a security's price.
TA is best used for short term trading, but can also be used for long term.
Intro to technical analysis by Stockcharts chartschool and their article on candlesticks
Terminology
Useful indicators
Methods or Systems
Strategies: See the TA wiki here as this will be a work in progress, feel free to reply with your own strategy.
See our past daily discussions here. Also links for: Technicals Tuesday, Options Trading Thursday, and Fundamentals Friday.
submitted by AutoModerator to stocks [link] [comments]

I made a list of resources for beginners and experienced traders alike.

Check back often as this is regularly updated.
Price Action Attack Map N/A ------------------------------
http://www.forexfactory.com/showthread.php?t=520423 FXLester's guide to price action
http://www.forexfactory.com/showthread.php?t=2331 James16's guide to price action
http://forums.babypips.com/free-forex-trading-systems/58037-price-action-matters.html "Price Action That Matters by Aaron Kruger
https://www.forex4noobs.com/ Forex 4 noobs price action battle plan!
GAMES N/A ------------------------------------------------------
http://chartgame.com/ Personally, i think this is pure genius! I love it, it's an amazing way to brush up on your chart skills and it's actually pretty cool to see how things went. It throws a random chart at you and you have to day trade it, it'll tell you how you did versus a buy & hold strategy and... well it's just really really good!
BLOGS N/A -------------------------------------------------------------------------------------------
https://jkonfx.com/ Technical & fundamental news on currencies. I would advise newer traders not to trade solely on external opinions because that won't cement your own methodology or reasons for trading. Excellent website for if you want an overview of the markets and daily reports. Also includes a trading journal and a lot of media attention.
http://www.stocktradingtogo.com/ A good blog for new traders/ investors. Lot of ‘top 10 lists’ to flick through.
http://www.tradingheroes.com/ This is absolutely amazing! I can't put a value on this! It's one of the best gems of the internet. Podcasts interviewing successful traders, some are notable such as 50pips, Walter Peters & Chris Kapre.
http://www.nobrainertrades.com/ Found this when doing the podcast link below, it's actually really good high quality stuff. Blog based with plenty of educational material.
http://www.chatwithtraders.com A weekly podcast that interviews successful traders. Thank you gumballfrank for this.
http://ftp.traderkingdom.com/ Not had much of a chance to check this out, but first impression are nice!
http://www.forexlive.com Heavily oriented towards fundamentals. Good news portal submitted by WinterTires thanks!
http://www.tradeciety.com/ Heavily visually oriented perfect for beginners! Lots of infographics and info. Submitted by gumballfrank
http://orderflowforex.com/ A blog that focuses on Personal Development as a trader. Absolutely essential. It'll help to focus you on your journey to trading omnipotence!
ONLINE SCHOOLS & LEARNING PORTALS N/A -------------------------------------------------------------------------------
http://theinnercircletrader.com/Tutorials.htm Best tutorials in the world by a secret trillionaire.
http://www.tradimo.com A superb website dedicated to training people to become better investors traders for free.
http://www.babypips.com One of the best free online schools which tracks your progress and teaches you heaps on information. The forum is the gem, where many people keep trade journals and put up their strategies. Don't copy them but borrowing concepts and ideas is good.
http://www.forexpeacearmy.com/forex-forum/forex-military-school-complete-forex-education-pro-banke Unbelievably thorough! Education on forex trading, literally everything is covered.
http://stockcharts.com/school/doku.php?id=chart_school Very wide ranging resource that focuses mainly on technical analysis.
http://www.investopedia.com This should be a given, but seriously – this place is the Wikipedia of trading/ investing.
http://www.swing-trade-stocks.com/swing-trading-basics.html Actually a really good learning resource that mentions psychology and momentum among other things.
http://thepatternsite.com/Psychology.html Really good information on trading psychology – something that often goes unnoticed with beginners.
http://www.finvids.com/ Cool little website with videos on candle patterns and chart patterns.
http://www.fxacademy.com/ Appears to be a free trading academy. Not tried it personally, but it looks really good. With plenty of videos for visual learners.
http://forex-strategies-revealed.com/intro PEOPLE IN NEED OF A STRATEGY CHECK THIS OUT List of strategies, literally everyone you'll ever need.
ARTICLES OF INTEREST N/A -----------------------------------------------------------------------------
http://orderflowforex.com/2014/11/trading-books-proper-orde There's a lot of information out there, it's overwhelming. You might think "Where the hell do I start?!" well here's your answer! The books you have to read... and in what order! Super important for beginners.
http://www.stocktradingtogo.com/2009/05/14/trading-psychology-stages-investor-emotions/ An article on the ’14 stages of investor emotions’ knowing who you are and what is happening to you can lead you to make more calculated decisions.
http://fourhourworkweek.com/2014/10/15/money-master-the-game/ Tim Ferris, author of The 4 Hour Work Week interviews Tony Robbins to find out the success behind the worlds best investors. Talking about morning routines, peak performance & mastering money!
http://www.tradeciety.com/category/trading-blog/ Best trading & investing blogs and articles as picked by tradeciety.com
http://www.forextradetracker.com/blog/understanding-forex-jargon-a-glossary-for-beginners Forex jargon glossary for beginners. Submitted by gumballfrank
http://orderflowforex.com/order-flow-trading/what-is-order-flow-trading/ What is order flow trading? Essential for beginners
FORUMS N/A -------------------------------------------------------------------------------------------------
http://www.forexpeacearmy.com/ Excellent learning resource, main focus is to help avoid people getting scammed.
http://www.trade2win.com/boards/ Massive forum for beginners to talk to more experienced traders – very active community.
http://www.forexfactory.com/forum.php Much like trade2win but more focused towards forex.
http://forums.babypips.com/ Another forum dedicated to forex traders. You'll find people keeping good strategies here, list them via most views first to find the real gems.
MISCELLANEOUS RESOURCES N/A --------------------------------------------------------------------
http://www.forexfactory.com/showthread.php?t=520423 Some beast called Lester showing you how it is! Read this!
http://theinnercircletrader.com/Tutorials.htm If you watch all of these you're already a millionaire!
http://www.forex-warez.com/Free%20Download/ Every book you could ever want on trading, investing, market psychology, strategies etc.
http://www.forextradetracker.com/ SUPER IMPORTANT This website is paramount to your success, still in development but will provide users with an easy way to document trades. Success is determined by your willingness to follow through with the boring bits so keep this one in your bookmarks.
http://www.hotcandlestick.com/candlestick-pattern-flashcard-game.html Super useful Flashcard game that helps you to remember important candlestick patterns.
http://www.hotcandlestick.com/forex_charts.htm Important candlestick patterns that have appeared on the major currency pairs. Good for a quick overview.
http://www.freeonlinetradingeducation.com/chart-school.html Website offering visual illustration & practical applications of popular candlestick patterns.
http://www.hotcandlestick.com/candles.htm Glossary of candlestick patterns.
http://www.incrediblecharts.com/topic/Technical_Analysis Another resource for learning technical analysis. Not particularly thorough but useful for basic concepts.
http://www.forexschoolonline.com/ Market overviews and trading opportunity videos provided, along with educational videos and the like.
http://www.tradersdna.com/education/ Another trading education site focusing more on forex.
Edit - I've spent about 2 hours making this now. I hope you guys find it useful! I'll continue to update it and may you all find trading success. If you want to help me out spread the link! put it on forums or share it with friends. Good luck to you all and happy trading!
Edit 2 - My brain is fryed... time for a rest.
Edit 3 Once I've categorized this post making it easier to navigate i'll be adding books to read, videos to watch & the traders that will help on your journey to self-sufficiency. Happy trading everybody!
Edit 4 Moved the podcasts into the comments so there is more room here for extra sites.
submitted by Dannyboi93 to Forex [link] [comments]

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Fundamental Analysis Course for Forex Traders - YouTube

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