Review of Trading Tickers Chapter 2 Important Beginner Basics by @kroyrunner89

If you find this review helpful and are considering purchasing Trading Tickers, please consider purchasing through this affiliate link.

Link to Table of Contents Post

Summary:

This was a very basic BUT very solid chapter, I’ve been around trading for a while so not sure if I learned anything, but that being said Tim did an awesome job describing all the basics of trading. If you are new to trading, especially Day Trading and all the little intricate details that come along with it, this chapter was great!

I think back to some of the books and DVD’s I started with years ago and feel confident that this much surpassed them when it came to the basics of orders, brokers, how to position size, how to short sell etc.

Notes:

How to read quotes
-Bid and ask
-Discusion of fills and spreads
-Volume
-Y Finance good for news research but not realtime
Trading Hours
-Discussion of after hours trading
-After hours, reminder to use ARCA
Limit and Market Orders
Stop orders

Lingo
-Gap up
-Gap down
-Green/Red
-Red/Green
Volume vs Liquidity
Float
-Low float <10M
-Low float – volatile
Short selling description
-How to locate on DAS and Sterling
-How to find HTB on CP
Mechanics of Short selling
-Taking negative positions etc
-Buy Ins
-Fees
Discussion of getting shorts to work on your time frame. Just because it will go down, will it do it so that you can make it work.

Trading/Computer Setup
-Platform and Screens discussion

Account Building 101
-Funding
-Learning Curve
-What to trade
-Good discussion about working with Commission Fee Structure

Have a realistic learning curve
-Lots of failures along the way

What setups to trade.
-Volatile
-Less trades and setups
-Never follow anyone
How to size

Emotional Struggles
-Discipline
-FOMO
Losses are a fundamental part of trading
Hide P&L

FOMO
-Its better to miss than to lose/chase.
-Develop good habits
Be self aware

Rules/Regulations
-PDT
-$2.50 rule
-SSR

Opening Brokerage accounts
-market data
-live support

How to choose a broker
-Rules
-Platforms
-Scans
-Breakdown of different brokers

Scanning
-Equityfeed
-Stockstotrade
-IB
-TOS
-Finviz
-How to use a scanner

Desktop Apps