[Boards: 3 / a / aco / adv / an / asp / b / biz / c / cgl / ck / cm / co / d / diy / e / fa / fit / g / gd / gif / h / hc / his / hm / hr / i / ic / int / jp / k / lgbt / lit / m / mlp / mu / n / news / o / out / p / po / pol / qa / qst / r / r9k / s / s4s / sci / soc / sp / t / tg / toy / trash / trv / tv / u / v / vg / vp / vr / w / wg / wsg / wsr / x / y ] [Search | Home]
4Archive logo
paper-trading practice
Images are sometimes not shown due to bandwidth/network limitations. Refreshing the page usually helps.

You are currently reading a thread in /biz/ - Business & Finance

Thread replies: 15
Thread images: 1
i'm just downloaded thinkorswim to practice papertrading, anyone use it before or starting as well?
tips for actually learning something are welcome
>tips for actually learning something are welcome
I think thinkorswim have tutorials for using their software
yeah i went through them in the past and found youtube tutorials to be better

i'm mostly referring to what to buy since i'm a total pleb, though i understand there is A LOT to be researched
Bro, don't ask people what to buy. Trust me, your better off doing your own research or taking guesses. Online recommendations can be good buy you have no clue who they are coming from and most are awful suggestions. What are you trying to get out of investing? Short term gains or long term gains?
ToS is pretty fucking neat

It's also free for papertrading which you are using and I think there isn't really a "trial version" (I've been using it for awhile now)

only downside is the delayed quotes just to fuck with you but the charts are REAL TIME and same as the papertrading.

If you have any real questions right now I can answer some for you because I've had some experience with this platform

I would also watch this video just to configure the screens a little and get rid of some of the mess.

You don't need to do exactly what he says; in fact, I probably wouldn't do the 6 screens shit if your monitor is small.

But do get rid of the left taskbar thing.
long term

just learning enough through practice and then constantly investing whatever i can afford into the market at (what i assume to be reasonable) slow and varied rates with a lot of unpopular stocks.

right now i just want to get into the action of making action based on what's current rather than following a pattern laid out from the past

for example; i see that the s&p 500 index is down and don't know how i should act on it
In terms of buying though, you got to do that yourself. I could suggest some stock picks right now but you got to research them.

Look up how to trade more depth in stocks by doing research on TA or reading some investing books.

ToS allows you to have whatever strategy you want though with all the features that it has (I know I'm shilling it but seriously this platform is amazing)

Some picks: $UNIS, $TGD
What to buy is unimportant if you have no idea why you're buying it in the first place. Learn what to look for in companies like news about products and earnings coming up, track its average trading price, follow trends in the same industry you're buying into, figure out the amount you want to make in profit and stick to it. Dont. Be. A. Greedy. Shithead. Thats how you make money with this shit. When you think you know what youre doing read more.
since i haven't invested in anything yet, what would did you learn from starting with a clean account? what trends do you predict?

i had an account in the past and made the mistake in thinking that walmart would make tons on thanksgiving -- since they were going down two months before -- and ended up making nothing


would i waste my time reading this?
should i do extensive research within one field and then invest throughout it or have a variety of markets with not as much knowledge?
with trading its best to deal with what you know.

There's a game called "what if".

It came out in the news today that china is geting rid of its foreign curency reserves.

ask yourself, why would china want to strenghthen its own curency (since its exchanging its foreign curency with local curency.).

Is china doing the right thing? Is china panicking due to the bubble speculation on its housing market?

How will this affect the market?

This is a bit complicated, but you can try it on simpler things:

what will be the consequences of a climate shift:
more floods:
i.e more rust,
i.e more need for anti-rust paint
more mosquitos
i.e Zika virus

ask yourself how will different scenarios affect people's needs.
wow, i would've never figured to look at something in that depth

would it matter what i look into in terms of what i'm interested in as long as im able to come up logical with scenarios like that? or should certain markets be avoided and others engaged?
Just play around, do your research and soon enough you'll find a niche.

i am sure like any human being you have things that interest you, things that dont interest you at all and things that you dont know yet if they interest you.

new things will always come up,
Jstock is a cool program to download because it has an indicator scanner.

What i do is, i install the RSI buy indicator and search the entire stock market. Random stocks pop up that according to the rsi analysis they are buys. Start from there, and do some research on the stocks that pop up and start following them (you can add them to your jstock "shortlist")

bloomberg tv is quite good for a complete noob just to see some of the people they interview during the day.

Check some articles from fortune magazine, its really funny how some companies try to shill themselves as a final resort.

Its fun to keep track of the shilled stocks and see if they did well or if they got fucked in the ass during the following months. That'll teach you what to look for.

This is my process though, i'm just good at reading people. If you are good at math i am sure this is not the best method for you.

Just have fun.
It depends on what your goal is with trading. If you want to do this as a way to build wealth for retirement, read up on an industry and the company(ies) youre interested in, make sure they seem like good picks to hold onto for many years then invest. If you want to day trade, follow 5 companies or so very actively, wait for a dro, buy, sell at your chokepoint for cash. Do it often and you will take a loss eventually just keep going through it. And remember anyone who tells you shit like "oh you made 10 cents a share, good job..." is a moron. 10 cents a share day traded on thousands of shares constantly is how you make a lot of money daily. Sorry if any of this got hard to read, Ive been drinking ahead of the Super Bowl.
Thread replies: 15
Thread images: 1
Thread DB ID: 494703

[Boards: 3 / a / aco / adv / an / asp / b / biz / c / cgl / ck / cm / co / d / diy / e / fa / fit / g / gd / gif / h / hc / his / hm / hr / i / ic / int / jp / k / lgbt / lit / m / mlp / mu / n / news / o / out / p / po / pol / qa / qst / r / r9k / s / s4s / sci / soc / sp / t / tg / toy / trash / trv / tv / u / v / vg / vp / vr / w / wg / wsg / wsr / x / y] [Search | Home]

[Boards: 3 / a / aco / adv / an / asp / b / biz / c / cgl / ck / cm / co / d / diy / e / fa / fit / g / gd / gif / h / hc / his / hm / hr / i / ic / int / jp / k / lgbt / lit / m / mlp / mu / n / news / o / out / p / po / pol / qa / qst / r / r9k / s / s4s / sci / soc / sp / t / tg / toy / trash / trv / tv / u / v / vg / vp / vr / w / wg / wsg / wsr / x / y] [Search | Home]

All trademarks and copyrights on this page are owned by their respective parties. Images uploaded are the responsibility of the Poster. Comments are owned by the Poster.
This is a 4chan archive - all of the shown content originated from that site. This means that 4Archive shows their content, archived. If you need information for a Poster - contact them.
If a post contains personal/copyrighted/illegal content, then use the post's [Report] link! If a post is not removed within 24h contact me at wtabusse@gmail.com with the post's information.