Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Oh man trading is never easy. You know that. If I can say anything here its born of experience. I followed and was in quite a few penny stock trading rooms. (Ross Cameron is an utter scam... even in the penny stock world!) He goes very far down that route too coding colors of the background to make it look like it live trading when really theres evidence it's not. Ect.)
Anyway if you think futures has its challenges. Add extreme volatility due to lack of liquidity and wait to get stuck in a position and believe me you'll be begging to get back to futures. Heres the catch. In penny stock your leverage comes from holding a large number of shares. Penny stocks generally have low floats which can send them easily swinging with supply and demand imbalances.
So what happens is these rooms are looking for the stocks that are moving and jump on all at the same time. Then everybody jumps in and its musical chair time. If you get stuck with the stock and no one to sell it to you have to get out at a loss or sit for days or weeks or never to get out. And I'm NOT being dramatic here.
To add to that the other camp tries to short parabolic and unsustainable rises in penny stocks. Although this is an even more dangerous game I actually think its the way to trade these. But then you have to find shorts to borrow and that can be expensive even if you can locate them and you still have all the liquidity problems.
So if your thinking they might be easier I would caution they are harder because you have to deal with so much more AND learn to trade. Bad combo in my books.
Lastly the TAXES ARE A NIGHTMARE! DON'T FORGET THAT.
Lol. Agree with you 100%. And I tried to leave it. Except that when I leave for 3 weeks or so, suddenly something happens that clears up my cognition of some issue and that opens up a higher level of understanding of what is really going on. And I am right back in. In fact this has happened about 3 times that I am beginning to think I need to rest my mind as it tries to put things together for me. Just trust the process as it were. I am fine tuning different parts of the equation and trying to get consistently profitable in a demo account. That hasn't happened yet for me.
I can get a really good win rate but that does not mean I am profitable. Once i am profitable for at least 2 months on a demo account I plan to go live.
I trade stocks 100% because in my country the futures market is not well developed and illiquid, so the only option to trade securities is in Stock Market or if Forex (FX) as alternative but due to different timezone and lack of knowledge on forex trading I skip trading Forex
I voted 75% stocks but in reality it is 95% stocks and 5% futures.
However half of my stock is based directly on commodities that one can trade with futures (precious metals: Gold, Silver, Platinum) or indirectly on metals (Gold miners, Copper, Iron ore miners etc.)
It's funny because I am also a musician, I am often surprised to meet so many traders that are also musician. I used to play classic guitar, now I only play from time to time. Yes in most of Italy there is still a "pastoral life style" (I couldn't define it any better), in the past I didn't like it and I wanted the diversity and glamour of the big cities, but after living a couple of years in Paris and London I realized that's not for me.
Volatility is still not my game but mostly because I am trading with TopStep so I have very specific rules to follow and volatility can make me lose my account.
So I prefer to trade calm markets.
Thanks a lot for the wishes and also for the video. I love accordion!