Saturday, June 30, 2007

FAQ's

I will add to the list as request come in.
  1.  What is this blog? I originally started it back in 2007ish for the soul reason to post my ideas and show my son how to trade someday.  I started mainly trading the 5 and 15 minute charts and then the emini. I now mainly trade gaps on stocks in the first 60 minutes of the trading day, emini and day trade the Daily Bar's. I will post these Daily Bar Ideas on Stock Twits.
  2. Is your trading plan a book or downloadable file? Its a adobe acrobat downloadable file sent by email.
  3. When is my trading plan emailed out? Within 24 hours
  4. Why am I selling my business plan? It gets a little boring trading - no employess :) - so I figured to start my own blog to interact with traders and share my trading plan to help others shorten their learning curve to becoming a profitable trader. I started the blog with my son in mind. When he is old enough to trade I hope my blog and business plan will give him a head start. The only way to learn is through experience.
  5. How long have I been trading? 2001
  6. What platform do I use? Think & Swim and Options House
  7. What setup do I suggest for new traders? The Daily Chart (daily bars) day trade setup. Scan nightly for the setup and place trade at the open with stop and exit. Exit at end of day if target is not hit. Learn Candles slowly, moving charts can make you trigger happy. Key to trading is less..not more.
  8. How many Trades a Day? 1 to 3

22 comments:

winvest said...

Hi, I am trading in the Singapore Market (SGX), can your trading/business plan be use in Singapore?

How I Day Trade said...

not familiar with the SGX - I am sure some of the same concepts will work with any market if using candlesticks, stocks with lots of volume, money management, and playing stocks gapping up at the open.

Anonymous said...

Could I have a few days sample of your program before I purchase?

How I Day Trade said...

- here is the table of contents
http://www.howidaytrade.com/Table_Of_Contents.html

How I Day Trade said...
This comment has been removed by the author.
JOHN said...

Hi, I think your book look very interesting. I use Trade Ideas for intraday scanning, do you describe in the book how to setup the right alerts and filters for your setups?
That part is very critical for me because of the overwhelming possibilities with the software.

John

How I Day Trade said...

I sparingly use trade ideas for my setups, I explain the parimeters I use to find setups. You can take those and use it to build a scan that fits your needs.

Cindy said...

Hi..I am interested in your book and methods..but have to ask for some information on what kind of a return on Capital one can expect using methods like these..I understand every person will be somewhat different..but what would you suggest to expect from this type of trading...Thanks much

How I Day Trade said...

Learn a method, master it, and then increase your risk as you gain success. No matter how much money you have to risk start with the minimal amount until you achieve success.

For example risking $25 per trade to start. So if your entry is 51.
50 and your stop 51 then buy only 50 shares. Once you earn your success then move up the amount you are willing to risk. Dont go from risking $25 a trade to $500 a trade. Earn it and learn on the way.

Brian said...

Hi,Is you street smart pro set to a bracket order once you enter a trade or you manually monitor your trade as you scale out? Thanks

How I Day Trade said...

I both manually place my exits and use brackets. I dont make many trades so its easy to monitor.

Anonymous said...

What charting package are you using?

How I Day Trade said...

street smart pro and tradestation

David said...

What is your computer setup like? XP? Vista? How many monitors?

David said...

Your TOC doesn't seem to mention any technical indicators? Which ones do you use (if any)?

How I Day Trade said...

I use Xp and vista... I use 4 monitors.

I use minimal technical indicators.

Diana said...

Hi, would your method require any charting software? I am using Interactive Brokers as my broker, I wonder whether that alone would be sufficient.

How I Day Trade said...

You need real time charts and I mainly use candlesticks... Charting that lets you utilize multiple time frames.

Anonymous said...

hi
i understand that you trade with 4 screens ,do you make a pre market list or have 10 to 20 small chart and wait for the triger ?
do you make nuber of trade at the same time ?
on average month/week how many R you made ?

thanks

Anonymous said...

I am interested in both of your business plans. May I know: 1. Techniques of both same? 2. it seems there are more homeworks of trading the indexs than trading the stock. How long to prepare the homework? 3. Will the reward is better than trading the stocks? 4. Can it be more samples to teach trading index on every method? Thxx.

How I Day Trade said...

Emini there is more homework the night before and less in the Morning. Stocks is the opposite. I prefer emini as I am concentrating on the same index every day. With stocks your are spending more time searching for candidates to trade each day.

In the beginning homework will take you more time until you become more familiar the charts and instruments you trade. I spend about 45 minutes maximum the night before and 20 minutes before the open. Without doing your homework and setting a plan for the day you will not succeed. If you enjoy trading homework will be enjoyable.

Yes stocks can give a bigger return for the day but it can be a grind in the AM with the daily searching. Its all about your personality. Emini is more simple and straight forward and less exciting. I give samples in each trading plan. Paper trade any new setup you experiment with. Learn to walk before you run.

Tajir said...

Hi, Can you please share the number of trades that you make on average per week with emini plan. Also, what is the number winners vs losers, with average win vs average loss.

thanks

Disclaimer

I DO NOT MAKE RECOMMENDATIONS TO BUY OR SELL SECURITIES - I JUST POST TRADES I MAKE OR FIT THE RULES OF MY TRADING PLAN ON A DAILY BASIS. DO YOUR OWN DUE DILIGENCE - YOU ARE RESPONSIBLE FOR YOUR TRADES, INVESTMENTS, AND DECISIONS! ALL CHARTS COURTESY OF TRADESTATION, SCHWAb & TD AMERITRADE