The Awesome Day Traders Aftermarket - 01 Feb, 30751957, page-34 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

Originally posted by Tony barber ↑

I know the day trading thread isn't the place to ask questions, so I hope I can do it here.

FWIW I've read the dt thread everyday for 4 months (a few holidays aside), and just thought I'd educate myself on the completely different world you guys live in.

4 months later I think I can pick the rampers who are talking about st stocks. The people with agendas, the people that can't read a chart to save themselves, and the people that are thinkers.

I'm probably ready to set up an account purely for day trading.

But there's a few things you guys see that I don't yet see.

First question.
Do you guys use iress or similar to see volume and chiX buys? I use nabtrade.
I still rely on looking at market depth. Looking at trades, and making a call (even though I never bought until today, I still kept trying to make the calls)

So I think I'm way behind if I can't read a volume build up.
Yep, I know it's a learning curve. But I do feel like I'm flying blind. Any help appreciated.

Second.
Is it typical to set up a weekly growth % when trading? Or do people tend to lose a bit of focus and continue to try and find something that isn't there? I feel it's the latter.
I'm thinking 20% financial growth per week is extremely ambitious. But it's where I'd like to start (over a 3 month period) And then see how far out I am. See how much I'm trying to be smart / stupid. And see how much I'm dropping off in research trying to chase the easy trade.
I want to calibrate as I go.

Sound ridiculous? Happy to hear it.

This is going to be the starting point.
10k. I have plenty more but I'll keep that aside. when I mentioned it to the wife she raised her eyes and I said "we're only talking 10k" she said fair enough.

Importantly I want to keep our normal portfolio completely seperate.
Ie. I own Ffg and I know it's a day trade stock. But I'm happy to just ride the ups and downs. I want to leave it alone.

But at the same time, I'd love to also be day trading it.
So in effect, I'm just going to split the brain.

And the plan is to never hold overnight. Or I think I'll blur lines.

Treat one like a wife, and the other like a mistress. (Hope that's not umm.... Sexist)

I'm sure you guys have been asked all this before. Sorry.

I have more questions, but that will do.
Short and sweet or long and detailed guys. I don't mind.

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Hi Tony. I hope you forgive a quick post from a former DTer who is now trading MT/LT in his SMSF
Just one thing which immediately caught my eye when I first read through your post. 20% financial growth per week. So, your goal is a profit of 20% per week? Seriously?
Not that he's a DTer, but Mr Buffet did extraordinarily well to average 20% per annum over his long trading career.
I like the sounds of your post, though. You are starting with a smallish amount of money which you both can afford to lose (great that you are involving your "trouble and strife" in the journey!); you will keep records; you will reassess and not stress out etc. Will be a terrific experience. More power to you both.
All the technical stuff you will work out for yourself. Perhaps the psychological insights you will experience might surprise. Put down all your thoughts in a trading diary. Will make a fun read in the months/years to come.
All the very best!