You have to have stops in place at all times. Technology has leveled the playing field. I am the Community Manager for StockTwits. ;-) Happy Wife — Happy Life! Here is the biggest loss I took in 2016. Never again. I also like John Murphy’s books on Technical Analysis. — Kevin_in_NC. The room type is set by the room moderators. Take everything with a … It’s ALWAYS been the best move for me. They take the plunge. What is your worst loss to date? Programmer Rejects $6 Billion, Gets Fired From His Own Company, Elon Musk’s 2 Rules For Learning Anything Faster, If One of These 7 Statements Applies to You, Don’t Date, Former Governor of Idaho Candidate Arrested in 36-Year-Old Cold Case, The First 3 Things You Should Do Immediately After You Workout, 7 Racist Slurs Which You Should Drop From Your Vocabulary, The Only Four Books Bill Gates Has Rated Five Stars. Post. the 9 EMA, the 20 SMA and the 49 EMA. What is your favorite technical tool for trading? After 33 years you have seen a lot of market changes. I like browsing StockTwits. We also have a newsletter for anyone interested in getting daily updates about the stock market. After you regroup, you need to reduce your average position size (by half I’d say) and rebuild confidence on a string of green trades. Do you use moving averages to trigger a buy/sell? ChartingSchool — For anyone who ever wanted to learn technical analysis, this is the place to start. These are my opinions and ideas. — Sam_for_pebble. — Gunthed. MarketMemes — Rooms aren’t just for serious stock discussions and crowdsourcing analysis. — gregkero. In your experience is it better to trade illiquid vs. liquid names? Subscribing to his Room lets you in on real-time earnings analysis — crucial for the current earnings season — … During the day, I will just use ETF’s. Chris, how do you decide whether to daytrade stocks moving with or against $SPX or $NDX gaps? I want to keep looking like Jimmy Buffett. Matthew Timpane, trader and CMT at Schaeffers, leads this Room and teaches subscribers all about charting and how to use TA to make better decisions. I use 3 primarily. You have to have stops in place at all times. I mess up all the time. If you love trading, the money will follow. This is a must-follow for TA enthusiasts and even investing newcomers who want to find only the most relevant charts. There, Chris honed his craft and with $200 his parents sent him for a plane ticket home, he was able to parlay that into $23,000 in 2 years. @allstarcharts agreed. Please explain the saying that the market discounts everything. For the full transcript please GO HERE. Like today, how do I know it’s not a correction? — trademetria. Learning and trading with a small account since. What are the best lessons you learned about being a stock broker? — 8nottrumpxx, Just about every losing trade I’ve had in the last 2 years was due to position size. What follows is a recap of some of our favorite responses. Follow me @michaelbozzello. When @Stocktwits server crashes … The reason is that I was worried about counter-party risk. To feature your Room in this weekly series, be sure to drop us a line @StockTwits. He then leased a seat on the floor of the exchange where he began to trade in the $IBM pit. — founder. What is your thought on how long it will take for the market to work off the oversold? This process is automatic. — Giggity, I wouldn’t do anything with my portfolio. — scheplick, Back in the ‘80s to make money you had to be on the floor for the edge. No one trade or investment should ever break you. Building a comprehensive set of Technical Indicators in Python for quantitative trading, A Rude Awakening is Coming for Trump and His Supporters, 10 Signs the Pandemic Is About to Get Much Worse, Programmer Rejects $6 Billion, Gets Fired From His Own Company, The Fascinating World of Concubines in Imperial China, Elon Musk’s 2 Rules For Learning Anything Faster. — InsearchofYacht. Risk management is life.— scheplick, Luckily none for me. @Jkro @Roth_Trader whoa there he is! I’m re-examining everything in and out of trading. In what situation does one approach work better than the other? I shorted $SPU at $6 shorting $5K worth and lost 100% of it. Trading breakouts/breakdowns to lock in fast profits. — AlejandroMasari. — Trading4Living. — WinnerStocksUSA. Have you ever lost it all and restarted? Press the below if you really liked it and feel free to highlight or comment on any part. Here are my settings. — michiganfan4. Never try to “make it back”. — BobMccoy. Follow me @michaelbozzello. — patrickrooney. What is the best advice you would give to a retail trader and what has the stock market taught you about life? How can a day trader be successful without access to Level 2 quotes? If you use them at all! This is where technical analysts share the most relevant charts of the day. He found it on the Chicago Board Options exchange, where with little money, moved to Chicago, to be a clerk on the floor. I don’t use level 2 quotes. Quick reactions, and the ability to always question your positions is a real key to not busting out.

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