SimCast Ep. 18 – Mas Trades making $1000s on 4am gappers!
Tradingsim
by John McDowell
2y ago
Mas is a day trader from Germany who loves to trade overextended gappers very early in the morning. Starting out almost a decade ago, it took him at least 5 years to really reach consistency. In this SimCast episode, Mas shares with us the adversity he faced and how he found the consistency he wanted. Be sure to give him a follow on Twitter as MasTrades. Mas’s Early Adversity In the early days, Mas shares with us how he started out blowing accounts in Forex. After reading a few books, and checking out Tim Sykes, he found success with one penny stock that took him up to $200k in profits on tr ..read more
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The 6 Best Day Trading Podcasts Worth Subscribing To – 2022
Tradingsim
by John McDowell
2y ago
Podcasts are an ever-growing segment of media. In the current landscape of false information and media bias, there is really no way to tell truth from fiction. However, podcasts offer a refreshing and easily accessible approach to information distribution. Day trading podcasts are no exception, and in this post we cover the 6 best day trading podcasts worth following. Why Day Trading Podcasts Are Important to Your Education As we’ve said before, day trading education can be a bit like the wild west. Any Joe Blow can jump on YouTube and start advertising his/her services. And while not all of ..read more
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SimCast Ep. 17 – Wei “Valckrie” Turns $1500 into $600k in 1 Year!
Tradingsim
by John McDowell
2y ago
Wei’s Journey to Profitability Wei, also known as “Valckrie” on Twitter, is a software developer turned day trader. He got started during the Covid pandemic of 2020. After reading a few books on trading, watching youtube videos, and paper trading for 3 months, Wei jumped in. Unfortunately, like most, Wei lost money to begin with. He refunded his account 7-8 times, he says. However, by January of 2021, Wei started to hit his stride, and the rest is history. From a meager $1500, he has amassed over $600k in about a year, give or take. Wei’s Kinfo StatisticsWei’s Style of Trading Wei is an intr ..read more
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How to Overcome Fear and Emotions in Trading
Tradingsim
by John McDowell
2y ago
Whether you’re a complete newbie or you’ve been trading for some time, you have likely experienced fear and other emotions while trading. If you haven’t, you might be robot. It’s natural to experience these things because we are human and subject to the pulls of the flesh. In this post, we’ll uncover 5 ways you can overcome fear and emotions in trading. The Root of Fear and Emotional Problems in Trading As humans, we are naturally predisposed for certain emotions. Psychologists often label these with cute labels like scarcity bias or one of a myriad of other biases. To them, we are subject to ..read more
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The Stick Sandwich Candlestick Pattern + Chart Examples
Tradingsim
by Al Hill
2y ago
Candlestick patterns have been around for centuries. They are very useful in finding reversals and continuation patterns on charts. While we discuss them in detail in other posts, in this post we will focus on the stick sandwich pattern. Stick Sandwich Definition The stick sandwich candlestick pattern can occur in both bull and bear markets or intraday. The pattern consists of three candlesticks, where one candlestick has an opposite colored candlestick on both sides. The closing prices of the two candlesticks that surround the opposite colored candlestick must be same. Think of it this way ..read more
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Simulation Trading: 4 Best Practices for Profitability
Tradingsim
by John McDowell
2y ago
Despite what you may have been told, simulation trading can increase your chances of becoming a consistently profitable trader. It’s all dependent upon on how you use your time in the software. Here’s why. As we’ve covered in recent articles on the top 4 simulators with replay, and the big myth behind paper trading, if you come to trading as a beginner with the attitude that simulation doesn’t correlate with real-world performance, you’re misguided. However, if you simply use simulation trading for fun, or in an undisciplined and unstructured way, you’ll likely never reach the potential you w ..read more
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Paper Trading Platforms – 1 Gigantic Myth
Tradingsim
by John McDowell
2y ago
Why do paper trading platforms get a bad rap? Is it because the money isn’t real? The emotions aren’t the same? Is it really just a “game”? As we’ve covered before in our platform review, not all paper trading platforms are the same. But the real problem is the purpose of paper trading. It is often misunderstood. The Myth of Paper Trading The myth is very simple, that paper trading does not prepare you for real-world trading. Let’s be clear, this is a complete lie, and here is why. Paper trading’s purpose isn’t meant to be a game. It is meant to be a preparation tool for the real world of tra ..read more
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SimCast Ep. 14 – Eduardo Briceńo’s $800k Day Trading Secrets
Tradingsim
by John McDowell
2y ago
This week’s SimCast episode was a real treat: as good as Venezuelan arepas and taqueńos! We had the pleasure of speaking with Eduardo Briceńo about his journey through adversity, emigrating from Venezuela to the US. Eduardo’s Background Eduardo obtained degrees in engineering and finance while in Venezuela. However, due to the unrest in the country, he fled with his wife and unborn child in 2018. While in Venezuela, he began studying and trading the markets, starting with Tim Sykes and others. After landing in Houston, Eduardo continued his path to mastering the markets by studying other tra ..read more
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SimCast Ep. 13 – T3Live Pro Trader: Derrick Oldensmith
Tradingsim
by John McDowell
2y ago
Why you need to know Derrick Oldensmith Derrick Oldensmith was nice enough to drop in on the SimCast this week! You don’t want to miss this episode as he shares his wisdom on trading and what it’s like to trade at a prop firm. Derrick has been trading for well over a decade and is the Vice President of Trading and Education at T3live.com. He manages over 130 professional traders at one of the largest prop firms in the world. In this episode, we get an inside look at some of Derrick Oldensmith’s strategies and his mentorship style. He also offer an insider’s look at what it’s like to start ou ..read more
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Mental Edge Building Blocks in DayTrading: An Interview with Créde
Tradingsim
by John McDowell
2y ago
As traders, there are so many facets of our lives that can affect how we perform. In fact, if you didn’t already know, trading is just that, a performance sport. It’s akin to professional gaming in a lot of ways. To that point, a lot of your performance rests upon your mental edge and how well you cultivate it. The Mental Edge in Trading There are many aspects to building a strong mental edge in trading. In fact, there are many that you probably haven’t even considered. Building Blocks of the Mental Edge slide from Créde Sheehy-Kelly To help us visualize this, our friend Créde Sheehy-Kelly fr ..read more
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