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Owned by John
I've been trading for twenty years, I'll share my experience.
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55 contributions to PainlessTrader
26d •Â
GLD anf SLV
It's highly likely the bottom is in here, I have been away from trading for a while, I'm a dat lat on this bottom call, but GLD looks like 360 is solid and 42 should hold for silver... We'll see..
1 like • 16d
I'm loosing my conviction here, follow through was not quite there. It looks like the whole market wants to come down including the metals.
21d •Â
T+0/T+1?
Nice to meet you all. I want to start trading US stocks. I have some questions about the US market. I hope I can get help. Does the US cash account support the T+0 trading system? I only know that the margin account supports the T+0 trading system.
0 likes • 20d
It depends on the broker. The real problem in the USA is the daytrading rule, which is stupid. If you plan on having a margin account, you need to keep your balance above 25K if you plan on short term trading. If you have a cash account, then it doesn't matter. If you don't day trade it doesn't matter. That would be a broker Specific question about T+1 or T+0. There have been discussions about changing the Daytrader Rule, but I don't know where they ended up. If you are trading in the USA, but live abroad I would contact IB Brokers and see what they tell you. Interactive Brokers.
26d •Â
Market analysis
Market like this as a trader what are you going to Consider before placing an order? GBP/CAD exchange rate at 1.84514 GBP/CAN. RSI is 50.50, signaling a neutral market with a slight upward trend. Consider factors like market conditions and goals before deciding 'buy' or 'sell'. More information needed for a certain recommendation. 1.Market Condition: RSI at 50.50 suggests neutral to slightly bullish sentiment—caution advised. 2.Trend: A minor upward drift is visible, but not strong enough for aggressive trades yet. 3.Action Options: Buy if aiming for short-term gains with stop-loss near recent lows e.g., 1.840 Hold/sell if expecting GBP/CAD to correct lower due to CAD strength or UK economic data surprises. 4.Risk Management: Use tight stops and monitor news events like BoC rate decisions or oil prices CAD-sensitive.
1 like • 25d
With spreads that wide I don't see how you can be successfull on that timefram. I mostly trade hourly charts, where the spread, no longer matters.
Nov 3 •Â
What's your Investing Process?
Noticed my best trades have a very top down approach, and even outside of my best trades. My best ideas, my better days, and general equity. Starting with the Daily Chart (Price Position, Level, and Structure), and then into Market Context (news, recent performance, strategic environment), and then from there I begin to get more into the details of my filtered ideas. Though curious to how people come up or think about their Investing Ideas! What's your Investing Process like?
0 likes • Nov 4
Now I mostly screen for "Baggers" and then use technicals to determine when to buy. The IBD CANSLIM approach well. So I'm looking for fundamental growth and then use price and volume action to make the trade timing.
1-10 of 55
@john-plough-5717
The original PainlessTrader , yes there are fakes... Not a "Day Trading Group" - Prefer a few weeks to months positions. Wykoff / Livermore Style.
Active 11h ago
Joined Aug 10, 2024
INTJ