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The Process of Development 01: Day Trading

When people think of the term 'day trading,' they think trading shares of stocks in public companies. You can also trade options, or futures, which involve betting on whether or not the price of stock x will go up or down. To do so, you need to use some sort of software to execute these trades. Newbs can do it from their phones now with apps like Robinhood, but pros like to use a piece of software called Thinkorswim, which is owned by TD Ameritrade.

Screenshot from en.opensuse.org

Above you can see what the UI of Thinkorswim looks like. Kinda confusing if you ask me. Stock trading is NOT the kind of trading that I have been learning how to do, but nonetheless trading stock options is a perfectly viable type of day trading. One caveat about day trading stocks is that if your account balance is under $25k you can only take a maximum of three trades per five day period.


Below is a look at my latest FTMO Challenge, where I am attempting to make 5% returns over a two week period with a max drawdown of 5%. I took 38 trades over two weeks, which averages to around 19 trades a week. Instead of stocks, I've been learning how to trade the foreign exchange markets, which are typically referred to as FOREX markets.


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