>>1035772 What did you expect? You're watching numbers tick up and down and setting auto sell points to help prevent loss. Yes, it's boring as fuck and compute programs exist to help with it for that reason.
Also, are you "day trading" or actually day trading?
If you don't have 25k in stocks or more right now you are very limited in what you can do. If you're stuck having to hold all stocks for 24 hours (USA laws) before selling then you're in the mock day trader class where it's especially slow and boring. If you're in the 25k and up class where you can buy and sell the same day, it gets more interesting but a lot riskier.
In layman's terms, the day trading minimum limit is there to prevent uneducated Americans with pie in the sky dreams from tossing their meager 1k life savings at penny stocks and losing it all within a week from bad trades and trade fees because they're noobs. Lawmakers figure that by the time you have 25k in stocks you know what you're doing or can stand some loss streaks.
>>1035790 That's basically the best way to do things as it adds more urgency and ensures you will check back in, though it also means that if you suck you're going to lose actual money.
You can also just "paper trade" where you watch the stocks/currencies/ect every day and "buy/sell" by adding and subtracting on paper. It's basically pretending to do it as a means of learning how to do trading with no risk just in case you suck. On the down side as there's no risk it's easy to forget to do it or get bored and wander off.
Also keep in mind that all currency trading is a "zero sum game". You're going to need to see a LOT of money traded to really have any changes because the world overall is a pretty stable place. Sure, there's good patches and bad ones, but they average out overall making it hard to really gain money. That's not to say it's impossible, it's just not as easy as it looks.
>>1035819 Emotion is always a bad thing when investing. Yes, boredom is an emotion. I tend to chat, listen to music or play simple games I can pause at any time to prevent boredom from being killer.
You need to look at trends, not emotions, and try hard not to let "gut" stuff happen.
As a new investor, I suggest learning to spot bubbles and ride waves as a high priority. Sure you know what bubbles and waves are, but seeing them in action is something else. It's easy to get excited when you see those numbers go upward but learning if that's the time to buy or sell is what's important. An hour isn't long. Keep at it almost every day for a few months and you'll get there.
>>1035845 No problemo. Just remember to keep at it almost every day for at least 3-4 hours a day or just cash out.
If you find it's too boring, you can't keep up, you keep forgetting to check in, or you're losing your shirt it's best to cash out as to minimize loss. Don't toss money in if you're losing badly. Paper trade instead so you can keep learning until you stop sucking. Doing it every day even if you don't see big changes (and you won't as you're small time forex) is the only way to really improve. Books only go so far.
On the topic of day trading, I recently started a new job at a brokerage firm. We use Thompson One and I have it in front of me all day. I am not allowed to place trades (buy or sell) at anytime, except for 2 15 min breaks and lunch which is 30 min. Is it viable to trade intraday with such restrictions?
>>1035871 Yes, but shoot for the long game. Don't try to do actual day trading as you won't flip fast enough. Use your awesome software to research and watch overall trends then buy things you intend to hold at least a week before selling. This way your limited sell/buy windows shouldn't impact you very much and you can still have great tools at your disposal. Make sure to set your orders while you're there, don't just buy/sell.
Also paper trade for awhile until you've been there a few months to help you get started as smoothly as possible. Paper trading is always free and can be done in a sheet of notebook paper while actually trading for others.
>>1035889 i was hoping to do some day trades with about 10k in a schwab brokerage acct...will i be able to buy sell same day? sorry i am new to this and just want to get a feel for making a little profit.
>>1035917 With only 10k in the USA, nope. Uncle Sam says "no". Wait till you hit 25k to do same day buy and sell. Just do the week long investments if you want to go fast and work your way up from there.
>>1035959 Typically currency is converted before the trade goes through. If the rate goes up, what you get changes accordingly.
>>1037863 If you needed a better example of rules not regulating what they're supposed to, there it is. I guess it's because the SEC has no control over what goes on with commodities. Of course, a lot of people would argue with the 25K rule to begin with.
>>1037953 >So, in reality, you can day trade with less than 25k USD. You just can't round trip more than 4 trades in a week. Anyone who would sacrifice their trading plan to some arbitrary measure of frequency has already lost. Fuck handicapping your trading like that.
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