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Author Topic: Walley’s beginner guide  (Read 2209 times)

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Offline Cali Guy

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Walley’s beginner guide
« on: October 22, 2021, 10:44:01 AM »
This is a basic guide for stock trading. Understanding the topics below are useful for any type of trading or investment. Thinkorswim is considered a good general platform to use for beginner traders, but you are not limited to it. Just make sure you enable real time data. Here is a video about enabling real-time data https://youtu.be/ASNPoq4L_AQ. You can message support within the thinkorswim platform if you don’t have real time data in the platform or come across any other issues. Use paper trading and the on demand feature to learn and practice before using any real money.
Note for Those That Are Considering Day Trading
Day trading will be one of the most difficult things you will ever do, but will be very rewarding once you attain the skillset. Most will say that 95% of day traders fail. You are going against yourself and the best in the world. You will lose and you will need to learn to lose. With that in mind, spend the time to learn and put in the screen time to get the experience. YOU HAVE TO COMMIT TO THIS, OTHERWISE YOU WILL FAIL. RISK MANAGEMENT AND CONSISTENCY IS THE KEY FOR SUCCESS.
You need to avoid trading like the following popular people and those like them, especially if you are new. They have some good informational videos and make a lot of money, but they tend to trade penny stocks and low float stocks, which are easy for them to manipulate.
Timothy Sykes
Ross Cameron
Steven Dux
Basic/Useful Information
Watch this before you start to trade https://youtu.be/pgpac3472JY
How the stock market moves https://youtu.be/Y0jP5QBlL5w
What are pre-market and post-market hours? https://youtu.be/TVyJG2ZnpWE
Stock trading lingo https://youtu.be/O2QOz8igtpQ https://youtu.be/KqlZkotuh0k
What are the differences between cash and margin accounts? https://www.youtube.com/watch?v=_Ta6cSTaRZw
What is float and why does it matter? https://youtu.be/mbUqLPlPqBg
Common types of stock order types https://youtu.be/QYjB43EqraQ
What is a circuit breaker halt? https://youtu.be/Kh4Vcs4RpCU
What is Short Selling Restriction (SSR)? https://www.youtube.com/watch?v=NBPv1Et5Agc
What is stock delisting? https://youtu.be/sT9od3xVKYY
Risk management https://youtu.be/1z8_qGvO144
What is smart money? https://youtu.be/4Oe-7ofZclc
Market manipulation https://youtu.be/clB8yfVna64
What is a pump and dump? https://youtu.be/mFEf5WwR5ZU
What are dark pools? You want to understand this because about 35% of trades happen in the dark pools. https://youtu.be/0a16ubeWJvE
The biggest problem for day traders https://youtu.be/rvOz7XFjMtQ
Mastering the skill of taking a loss https://youtu.be/YIr4OB9cK1o
How goals help traders profit https://youtu.be/pS8eG0Dilxw
Keys to becoming a better trader https://youtu.be/lgTj6kKos4o
Day trading psychology https://youtu.be/QM_gV4ahhUM
Psychological mistakes of traders https://www.youtube.com/watch?v=u4k96uMx3dU
How to predict what the stock market is going to do https://youtu.be/unLub2LYJyc
Everything you need to know to profit from trading the news https://youtu.be/B7RfhK_lXL4
Trading Platform
Open an account with a broker https://www.tdameritrade.com/
Download trading platform https://www.tdameritrade.com/tools-and-platforms/thinkorswim/download-thinkorswim-desktop.page
Enable thinkorswim platform settings https://youtu.be/Gzt6mM3Iuyo 
Basic setup https://youtu.be/Hjn40uLaewQ
Indicator setup https://youtu.be/ipHPp5SEosE
Basic stock order types https://youtu.be/9lMHnK9eqQw
Scanning for stocks https://youtu.be/AJnISPfuOdA
Charts
Chart timeframes https://www.youtube.com/watch?v=BSyNbCPLQ5I
Candlestick formation https://youtu.be/oIHJuRn-zy8
Candlestick retracement and penetration https://youtu.be/13SWXqtSRX0
Volume and liquidity https://youtu.be/DxF-q2fCykA https://www.youtube.com/watch?v=QYo8m9o6N_g
Use multiple chart timeframes https://youtu.be/Dnh1uya1QAg
More charting tips https://youtu.be/RJ8wXrzPmrs
Support and resistance https://youtu.be/k4PIea7hTZI https://youtu.be/stZ5PmTo4rE
Support and resistance how to tell if it will break https://youtu.be/K5dnTdg7Lz8
Properly identify breakouts https://youtu.be/n_qgPGPTBEE
Trading reversals, pivots and volume https://youtu.be/dzLdPCJDius
Patterns https://youtu.be/o6hZma0bajE
How to draw supply and demand zones https://youtu.be/xJJa0NuqsA8
Level 2 and Time and Sales https://youtu.be/Rn5rMtwI81w
Basic Indicators
        These are some basic indicators I found helpful in getting me started. You can update your strategies once you get more experience and find which indicator is useful or not useful to you based on the way you trade.
VWAP https://www.youtube.com/watch?v=5VUa6jAJpwk
EMA and SMA https://www.youtube.com/watch?v=09c1giawo4g https://youtu.be/FNHfQOjk1CI
RSI https://www.youtube.com/watch?v=C6z4Ntf4Yos
Divergence https://www.youtube.com/watch?v=BBJQ8-lGlbE
MACD https://youtu.be/eob4wv2v--k
Useful Tools (do not buy or sell solely based on any of these tools)
        I’m personally subscribed to BlackBoxStocks, BookMap and FinViz.
https://blackboxstocks.com ($100 a month) Useful to quickly see time and sales and level 2 sentiment through a visual indicator, see stock and options alerts, aggregated option flows and dark pool orders. This helps you see where smart money is moving, which will move the stock prices. The service also includes a discord channel for mentor alerts, listening on mentors talk as they buy and sell, help from mentors and others and the news stream from thefly.com. This is my favorite tool used for options flow.
https://finviz.com ($40 a month) Useful for seeing the overall market in a heat map. Real time if you pay for the elite version. Useful for screening and identifying trending stocks and stocks in certain patterns and news that may move the market. I like using this to see institution holding and short float percentage and as a scanner for stocks in certain patterns.
https://bookmap.com/ ($40-$80 software + $50-$100+ data feed a month) I primarily use this to visualize level 2. You can also get it through thinkorswim for $40 a month and it’ll use the data feed within it. It's the same data feed you get from paying the extra fee with the standalone software. The thinkorswim version doesn’t seem to contain all the features when compared to the standalone, but it's enough for me.
https://www.marketwatch.com/economy-politics/calendar and https://us.econoday.com/byweek.asp?cust=us and https://www.federalreserve.gov/newsevents/calendar.htm are useful economic calendars that can show scheduled events that may move the market
https://www.earningswhispers.com Useful for seeing the earnings calendar
https://www.tipranks.com Useful for comparing price targets from the “experts”.
https://stocktwits.com Useful for seeing trending stocks and sharing information. DON’T trade based on the “hot tips” here.
https://www.tradingview.com Useful for making quick charts, reviewing/sharing charts, basic company financials and news. Some people also use it as their primary charts.
Short Sale Circuit Breaker lists NASDAQ https://nasdaqtrader.com/trader.aspx?id=ShortSaleCircuitBreaker NSYE ftp://ftp.nyxdata.com/NYSEGroupSSRCircuitBreakers/
Recommended Stock Market Related YouTube Channels
        Financial Education and Investments
Tom Nash - https://www.youtube.com/c/TomNashTV
Stock Moe - https://www.youtube.com/c/StockMoe
Let's Talk Money -  https://www.youtube.com/c/LetsTalkMoneywithJosephHogueCFA
Jeremy Lefebvre - https://www.youtube.com/c/FinancialEducation https://www.youtube.com/c/FinancialEducation2 https://www.youtube.com/channel/UC_xMKlHYdRNXLX9XzuOLjsg
AK Fallible - https://www.youtube.com/c/Fallible
Trader University - https://www.youtube.com/c/TraderUniversity
Meet Kevin - Helps understand how political jargon may affect the market https://www.youtube.com/c/MeetKevin
Peter Schiff - Economist/financial commentator https://www.youtube.com/c/peterschiff
Ark Invest (Cathie Wood) - CEO of investment management firm https://www.youtube.com/c/Arkinvest2015
Ray Dalio - Hedge fund manager of one of the largest hedge funds https://www.youtube.com/c/principlesbyraydalio
Mark Moss - Investor/Entrepreneur https://www.youtube.com/c/MarkMoss
        Trading and Technical Analysis
Live Traders - https://www.youtube.com/c/LivetradersNet
Rayner Teo - https://www.youtube.com/user/tradingwithrayner
Market Reviews and Preparation
StockedUp - https://www.youtube.com/c/StockedUpMikeDAntonio
Trading Fraternity - https://www.youtube.com/c/Thetradingfraternity
Right Way Options - https://www.youtube.com/c/RightWayOptions
        Supply and Demand Analysis
Carmine Rosato - https://www.youtube.com/channel/UC9KV4pshtiKoQF_IanKiT_w
AFX - https://www.youtube.com/c/ATLASFX
Other Stock Market Related YouTube Channels
        Various Financial Education, Investment and Trading Tips, Stock Market Thoughts
J Bravo - https://www.youtube.com/c/BillStenzel
ZipTrader - https://www.youtube.com/c/ZipTrader
Blaze Capital - https://www.youtube.com/c/blazecapital
ClayTrader - https://www.youtube.com/c/Claytrader


« Last Edit: December 29, 2021, 02:25:47 PM by Cali Guy »

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Offline Cali Guy

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Re: Wally’s beginner guide
« Reply #1 on: October 22, 2021, 10:44:43 AM »
Admin, moderators, sticky this. Thanks.



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Offline hmgROCK

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Re: Wally’s beginner guide
« Reply #2 on: October 22, 2021, 10:54:15 AM »
All these people are troll
For F sake man...
MEET KEVIN HAIR IS GREEN TROLL




Financial Education and Investments
Tom Nash - https://www.youtube.com/c/TomNashTV
Stock Moe - https://www.youtube.com/c/StockMoe
Let's Talk Money -  https://www.youtube.com/c/LetsTalkMoneywithJosephHogueCFA
Jeremy Lefebvre - https://www.youtube.com/c/FinancialEducation https://www.youtube.com/c/FinancialEducation2 https://www.youtube.com/channel/UC_xMKlHYdRNXLX9XzuOLjsg
AK Fallible - https://www.youtube.com/c/Fallible
Trader University - https://www.youtube.com/c/TraderUniversity
Meet Kevin - Helps understand how political jargon may affect the market https://www.youtube.com/c/MeetKevin
Peter Schiff - Economist/financial commentator https://www.youtube.com/c/peterschiff
Ark Invest (Cathie Wood) - CEO of investment management firm https://www.youtube.com/c/Arkinvest2015
Ray Dalio - Hedge fund manager of one of the largest hedge funds https://www.youtube.com/c/principlesbyraydalio
Mark Moss - Investor/Entrepreneur https://www.youtube.com/c/MarkMoss
        Trading and Technical Analysis



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God did not created man...man created god

Offline Cali Guy

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Re: Wally’s beginner guide
« Reply #3 on: October 22, 2021, 10:56:33 AM »
Admin, moderators, erase all comments and sticky this. Thank you.



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Offline theking

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Re: Wally’s beginner guide
« Reply #4 on: October 22, 2021, 04:20:54 PM »
This is a basic guide for stock trading.

Nice!  O0



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Offline walley

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Re: Wally’s beginner guide
« Reply #5 on: December 25, 2021, 08:34:22 AM »
I didn't even know this exists.  ;D  Here is the link to the document, which I update once in a while. I usually just give new people this link when they ask me about the stock market. Most of the time I never hear back, which is probably for the best for their sake. https://bit.ly/3mHyCrE


« Last Edit: December 28, 2021, 07:16:00 PM by walley »

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hmgPebble dumb as a rock

Offline hmgROCK

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Re: Walley’s beginner guide
« Reply #6 on: April 22, 2022, 10:05:05 AM »
Be careful with those YouTuber influencers
They pump n dump

Unsticky this dumb post



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God did not created man...man created god

Offline Cali Guy

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Re: Walley’s beginner guide
« Reply #7 on: April 22, 2022, 04:35:49 PM »
Be careful with those YouTuber influencers
They pump n dump

Unsticky this dumb post

 ;D ;D



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Offline theking

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Re: Walley’s beginner guide
« Reply #8 on: April 22, 2022, 05:10:22 PM »
Be careful with those YouTuber influencers
They pump n dump

Unsticky this dumb post


Not any where near as "dumb" as this:

"cringe as hell"...






dude

you gotta invest in the stock market index ...


 :idiot2: :idiot2: :idiot2:  ;D



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