This is clutch. This month my only income is going to be from trading, so it was important for me to segment my money into 30% short term, 30% mid, and 40% mid-long term. From there i'm able to segment into per-trade amounts. My total account is 2300, took 700 off the top for averaging down and the percentages above apply to the rest of the account. Its been very good to focus my watchlist and plays intraday.
Every trader is different but I use the 1/3 rule. Every month in my taxable accounts I withdraw 1/3 my profits in a saving account (to pay taxes), 1/3 in my checking account and leave 1/3 to grow my account. I am 72 and retired.
I day trade and swing trade on Robinhood, I started off small and build my money up. Money management is very important in trading, much I love reading I don't day trade and swing trade every dollar, I pay myself first, take care of my necessary things and what I have left I throw in my trading account and holding accounts.
I trade small symmetrical pennants. I know to enter at the break of the pennant, and put my stop loss at the bottom of the pennant. I risk 1% per trade. How do you determine the share size on the fly without going over your 1% loss? That's what I struggle with.
What do you guys do for taxes? Im CDN, trading both USD and CAD, and came away with 1k yesterday, bought the house groceries, and left with 700. Was thinking open a usd savings acct and adding 300 for the taxman, and future green days transferring 30 % just for the taxes.. what kind of money management do you use for your trading and taxes??? Thanks again and love the morning show
Tough niche to keep viewers but this channel is absolutely excellent. The 4 of you are the best.
Wow, thank you! Glad you enjoy it! Please stay tuned - will be getting only better!
This is clutch. This month my only income is going to be from trading, so it was important for me to segment my money into 30% short term, 30% mid, and 40% mid-long term.
From there i'm able to segment into per-trade amounts.
My total account is 2300, took 700 off the top for averaging down and the percentages above apply to the rest of the account.
Its been very good to focus my watchlist and plays intraday.
We are happy to be helpful! Please stay tuned, we post educational content everyday!
would it be good to take the profit money out of trading account or just accumulate all the money in the trading account ?
Every trader is different but I use the 1/3 rule. Every month in my taxable accounts I withdraw 1/3 my profits in a saving account (to pay taxes), 1/3 in my checking account and leave 1/3 to grow my account. I am 72 and retired.
Thanks for sharing! Have a great weekend, we will see you on Monday!
Great topic, thank you!
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I’m with Ameritrade what kind account do you have to have to do day trading Thanks 😊
Neal and Shawn use the PPro8 Trading Platform. Learn more: dttw.com
Please contact your broker!
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amazing
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I day trade and swing trade on Robinhood, I started off small and build my money up. Money management is very important in trading, much I love reading I don't day trade and swing trade every dollar, I pay myself first, take care of my necessary things and what I have left I throw in my trading account and holding accounts.
Thanks for sharing! Please stay tuned, we post educational content everyday!
I trade small symmetrical pennants. I know to enter at the break of the pennant, and put my stop loss at the bottom of the pennant. I risk 1% per trade. How do you determine the share size on the fly without going over your 1% loss? That's what I struggle with.
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Hey guys! Thanks for this great video! What trading software are you guys using ?
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Thanks... always learning something new
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Well done -Thanks!
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What do you guys do for taxes? Im CDN, trading both USD and CAD, and came away with 1k yesterday, bought the house groceries, and left with 700. Was thinking open a usd savings acct and adding 300 for the taxman, and future green days transferring 30 % just for the taxes.. what kind of money management do you use for your trading and taxes??? Thanks again and love the morning show