Trading Live
When you start we ask that you follow a specific schedule for your development. We
will present you with a training document that will outline what you should be doing
daily: Week 6-8. Also we would like you to follow a specific schedule for trading
our trading plays live. Below is the schedule for your trading plays and a list of the
Risk Parameters that you will follow. Remember you goal in the first 8 months is to
gain experience and get better everyday.
Week One
Support and Resistance Plays
Week Two
Add Pattern Recognition Plays
Week Three
Add Breakout Trades
Week Four
Add Uptrend or Downtrend Plays
Week Five
Add Range Plays
Week Six
Add Consolidation and Flag Pattern Setups
Week Seven
Add Higher Lows/ Lower Highs
Risk Parameters- When You Begin
Tier Size
When you start trade with 100 share lots. When you are positive seven out of ten
trading days then you can request that we increase your tier size to 200 shares. You
may double up when appropriate. Wanting to trade too much size too quickly is one
of the top ten reasons why new traders fail.
Stocks
Please make sure that a Senior Trader has approved your stocks before the Open.
You will trade listed stocks unless otherwise given permission by Steve. Do not trade
stocks over $60 or with less than 1million shares of daily volume, unless give
permission by Steve. Do not trade stocks that have a short interest greater than
25%.
Max Loss Limit
Your max daily loss limit is $150. Do not ask Steve to increase your loss limit
intraday. If you are stopped out, then review your trades and watch the market for
valuable information that you can use tomorrow. If you do not hit a stock that
trades against your exit price because you do not want to get stopped out for the
day, then you will be assigned to the demo for three days. This is just stupid. If you
are gross negative three consecutive trading days then you will spend the following
day on the demo.
Volume
We will share your expected daily volume with you created by GMan. No one
should trade more than 10k shares a day in their first few weeks. Overtrading at the
start is one of the top ten reason why new traders fail.
