r/Daytrading

So I’ve been scrolling through this sub for a bit and I see alot
Of random commenters all saying the same thing when people are looking for advice. It’s along the lines of “Don’t pay for anything or anyone’s information, there are more than enough free tools online”. That’s it, no direction at all, just a broad answer that isn’t useful really.

So let me ask you successful traders; what free information do you / did you specially use? What/who did you watch to learn, and what do you use for live trades daily??

Thank you and cheers!

What do you guys think is easier or better to pursue? I’ve gotten into an argument with a friend and I just feel like he’s trying to avoid a normal job at all costs and realistically I feel like day trading isn’t going to work out in the long run. He’s really into the idea of being his own boss but I don’t think it’s worth it.

Hey everyone! I can't really pay for any paid backtesting websites/softwares as of now, can anyone please suggest some free alternatives for the same, also websites with inbuilt journalling alongside backtesting would be highly appreciated to ensure that I am keeping a track of all those backtested trades.

Hey, I'm curious what everyone's daily routine looks like. I trade EST NY open, usually done by 11-12pm. I prep for next day for like 30 mins before going to bed, and go more over it in the morning pre market. Besides that I log if I took any trades, log emotions, and that's pretty much it. There's a huge chunk of my day that's not taken up, and I don't know if I should be doing more in terms of prep or something else

For instance, I need to get mobile alerts when the 9 EMA crosses the 21 EMA on the 30-minute timeframe for 5 symbols.

This is some psychological tip if anyone needs it. Everyone’s profitable strategy is profitable because market moves or no money to be made.

If you are working on strategy building ensure you have this is part of your system. Hope it helps someone out there.

Recommendations for trading platforms to use to trade momentum on penny stocks

It's so hard to trade right now, Is it only me? What kind of strategies work in these conditions? Any tips? I'm really new and trading the sp500 currently

Started with a small account, but the emotional swings felt like hedge fund money 😭

Curious what everyone here started with and do you think starting small helped your psychology/risk management more than starting big would’ve? Also, if you could restart, would you begin with the same capital again?

Traitors, is it possible to prepare full-time living by day trading? Those of you who make a living by being a full-time day trader what do you trade?

Using 212 currently and only seem to see the stocks that are already rising and close to their peak. Im new to this and have just lost a few quid as I seem to buy at completely the wrong time. Go easy.on me please, im just looking for people's insights and hints.

I see tons of misinformation and bad guidance on this reddit. So I want to help people get better at trading.

In every trade there is a winner and a loser. And this is true in every trade. Someone is losing value while someone gains value.

How do we use this to make money? Imagine tom has a guitar he is willing to sell to you for 300 dollars. You dont play guitar, so you call a pawn shop and find out they'll pay 500 cash for it.

You buy it from tom for 300 and sell it to the pawnshop for 500. You just made 200 bucks being the middle man.

If you want to be a good trader, dont be tom or the pawnshop. We just funnel money from buyer to seller or seller to buyer.

This is the mindset of a pure trader. We dont care what the pawnshop or what tom is willing to pay a week or a day from now. We just see an opportunity to funnel money from one party to another and take whats leftover.

edit : as the middleman, we dont carry inventory. The pawn shop is value investors. They hold inventory for weeks and sell for higher. Tom is the retail fish stuck in a bad trade seeking liquidity.

Market makers do the same exact thing as the middleman. They dont sit on inventory, the get it and move it as fast as possible.

Hey everyone, not looking for any outright ads or shills! Just wanting honest takes.

Just wanting to see if there are any programs that actually are more than what you could find on YouTube, ai, books, etc at this point in time. That’s the biggest objection I have when looking into programs but I haven’t been as diligent lately as in the past.

Seems like most shill programs promise crazy returns quickly but I’d like to know if anyone has had success with specific built out programs that offered more than just a crazy promise and general info.

Thank you!

Are there any trading journals that actually focus on psychology and discipline instead of just stats?

Yo just curious on this one. How do people manage there risk?

I don’t mean just RR , I mean specifics. Every trade do you scale in? Or all in from the start? I suppose include yes RR, how many trades a day? How many trades a week? What time frames do they use to execute ?

Just curious

Hey guys just wondering what’s the trade frequency on the month or week for the all professional day traders on here especially on propfirms? I’m starting to see less is more in trading !

I have $100k to start trading with, but very limited technical experience. I'm trying to set up simple automated day trading using TradingView SMA crossover alerts + TradersPost.

Current issues:

• Persistent JSON payload errors ("Malformed JSON", "Invalid Action")
• Alerts are not reliably sending to TradersPost
• Trouble getting consistent long + short signals working
• Not sure on best MAs, timeframes, and position sizing with $1 commissions (IBKR)

Where can I find virtual coaches to help me review and refine my strategy and make sure the systems are working? The goal is to trade 5-10 stocks on autopilot.