MY FIRST $0 COMMISSION FREE TRADE (GONE WRONG)

TL;DR

Ricky shares his TD Ameritrade trading experience, aiming for consistent profits despite market inconsistencies.

Transcript

who what's going on guys it's Ricky with tech book solutions how many of you guys got so excited for submitting your first Commission free trade so today TD Ameritrade released their free commission training I actually realized that while I was turning live with the learn plant profit team that they weren't charging me $3 per commission now was my ... Read More

Key Insights

• 🌸 Setting a max loss limit and recognizing market inconsistencies are crucial in managing trading losses.
• 🏛️ Aiming for consistent profits with smaller daily goals can build confidence and stability in a trader's performance.
• 🤩 Education, structure, and discipline are key factors in success for new traders navigating the TD Ameritrade platform.

Questions & Answers

Q: How does Ricky handle losses and market inconsistencies in his trading?

Ricky sets a max loss limit of $2,000 and steps away from trading when he sees market inconsistencies, focusing on consistent profits and smaller daily goals to build confidence.

Q: What advice does Ricky give to new TD Ameritrade traders struggling with consistency?

Ricky suggests starting with smaller daily profit goals, such as $25, to build confidence and experience, emphasizing the importance of a structured and disciplined approach to trading.

Q: What is the significance of Ricky aiming for $500 per day in his trading strategy?

By setting a daily profit goal of $500, Ricky aims for consistency and stable growth in his account balance, focusing on achieving achievable goals to build confidence and stability in his trading.

Q: How does Ricky leverage his knowledge and experience to navigate the TD Ameritrade platform effectively?

Ricky shares videos and resources to help new traders set up their TD Ameritrade accounts with useful indicators and order types, emphasizing the importance of education and understanding in trading success.

Summary & Key Takeaways

• Ricky discusses his loss of over 2.1% trading with TD Ameritrade's commission-free trades and emphasizes the importance of recognizing market inconsistencies.

• He shares his strategy of setting a max loss of $2,000 to prevent further losses and aims for consistent profits starting at $500 per day.

• Ricky encourages new traders to take a structured approach, starting with smaller daily profit goals to build confidence and experience.