How I started as a day trader.

As many people I was looking for a career to create a life with more pleasure working for myself and more free time. I come from a family that believes in long term investing and I had a long term account. In 2013 I was lucky to make an investment at the right time. I bought AAMRQ at 2.51 and within 8 months it came out of bankruptcy and the stock moved up to $40 with a profit of $225K.  This allowed me to fully enjoy my year of maternity leave (Quebec is amazing and allows women a full year off). In that time I was actually trying to gain my real estate license in Quebec as I love real estate sales.  Well I passed all my licensing exams with just the French exam to pass according to french language laws. Forget all my history in the States I had to take a foreign language exam to even attain my license. Well I had complications with my daughter that did not allow me the free time I anticipated to study to pass the exam. I received 60% and not good enough to acquire my real estate brokers license in Quebec.  I felt defeated end of January 2015. I thought what on earth am I going to do. Well my husband said you are so good with long term stocks why don’t you look more at that.

So I began researching and I ran into this page and listened to the video. I thought I now have another 6 months of maternity leave left and I have some extra cash so I want to apply for the challenge. I went through the phone interview to screen if I had the financial ability to participate.  It was roughly $6k for the whole program including Stocks To Trade. More DVDS than you can imagine and a wealth of resources online and via email. Contact to Tim Sykes and Michael Goode and more. I was diligent and set up time to watch my dvds after dinner once my daughter went to bed. I was so excited I opened a day trading account. This was end of February 2015

Well I was learning through the DVDs and I wanted to apply what I thought I knew to the action daily. 1. I way overtraded and didn’t realize the fees involved. 2. I didn’t have the experience so I blew through another 5k pretty quickly. I had some winning trades and I tried to do it all while watching a 7 month old baby. Once my daughter was 9 months, I was in a winning trade and had a stop limit order in and the stop triggered the limit and I missed my trade due to not being in front of the computer, so I stopped real cash trading.

I continued to study for the next 4 months. Watching the live webinars and watching DVDs and watching the market action at open with watch lists that I had created the night before. Once my daughter went to daycare in September I now had my mornings baby free to dedicate the time to watch my trades. So I set up my watch lists and paper traded to become consistent. I played around with trying to find trends that worked for me as well.

In Nov 2015 my paper trading became consistent and I thought its time to try with real money. I was scared with my past where I had just burned through money. So I played small until I became mostly profitable with my real trades. If you check my profit chart you will see I was in the red up until about Jan 2016. It seems like it just started to click.

After watching the charts every day you start to see trends and you start to see setups. You understand how to read level 2 and understand the price action. It definitely did not happen overnight. It took time. It took dedication and perserverance. I have some bad losses too, but start each day  with a fresh clean slate so that mentally I’m in todays trades.

 

Please let me know via Twitter @AirplaneJane  or  here if you have any specific questions I can help you with. I know I had a lot when I started and I found the online help invaluable. I want to help and give back. Thinking maybe one day to set up a streaming channel to help once I’m really profitable. We’ll see…. I’m no expert but as my brother says he thinks I’m in the 10% that get it.

I love hearing feedback from you. It makes my trading more personal and I like to hear how I can help you. If you have questions or comments you can contact me here or on Profitly, Twitter (@jane_yul), Instagram (missairplanejane), LinkedIn and Facebook (@sugarairplanejane). carpeprofit@gmail.com or YouTube

Working on my book  to be released this spring of 2017 available on Amazon and major retailers. Sign up here list for updates about when and where to preorder.

The tool I use for scanning and alerting is Trade Ideas who offer an always free trading room. Full Access Test Drive for $8.88 April 10-17th

Also testing out Stocks To Trade that has a 1 week $1 trial 

For my charting and level 2 I use Equityfeed.

This blog is for information purposes I am not a registered securities broker-dealer or an investment advisor. The information here is not intended as securities brokerage, investment or as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund.

 

 

 

26 Replies to “How I started as a day trader.”

Pedro@PSMusic

February 29, 2016 at 5:40 pm

Hi Jane,
Do you have any recommendations for a complete beginner on where to start? I find it interesting that like you were, I’m currently studying for my real estate license, so maybe there’s a genetic disposition towards certain activities! However, I don’t have much of a trading background of any kind, and your blog seems like it’s written in code! Help! 🙂 Thanks.

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    jhgallina

    March 5, 2016 at 2:43 pm

    Pedro the best thing I can say is are yourself with the right tools to study hard. Practice on paper with fake money until you turn profits then use real money.

    Reply

Bronx Vets

March 6, 2016 at 7:06 am

Any opinion on $RJET given your experience with $AAMRQ?

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    jhgallina

    March 16, 2016 at 1:48 am

    With $RJETQ I believe there is good value in the company. I know ceo is similar to Doug Parker and did this bankruptcy to restructure the pilot contracts to lower the costs to become even more profitable. I see it going to 4-5 but the timeframe might be less or more than 1 year. For me it’s more of a long term holding

    Reply

Kevin Mercado

March 16, 2016 at 5:06 am

Hi Jane,

You are such an inspiration – Im an aspiring day trader myself – what is the best way to better myself as a trader. What would you consider your top AHA moments?

Also with regards to your style can you please describe it? are you solely technical or fundamental as well?
If both – do you mind sharing resources to help?

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    jhgallina

    March 17, 2016 at 3:30 pm

    Kevin, I would say the best way to become better at trading is to paper trade until you see things clearly and then you can use real money. Why would you practice until you see everything in a winning way right? SO Definitely paper trade until you are consistent. Then I would say read books and study charts and dvds to learn. The more knowledge you have the easier it is to be profitable. I definitely still make mistakes but I try to learn from them.

    I guess I would classify myself more as a technical trader because I assess the charts first to see the price action and then find the catalyst for the reason. I would say to be a technical trader it took practice in just watching charts to see patterns. Sure you can study them for free on the internet but seeing in live action in regards to time of day will make you understand the patterns more than just memorizing a chart.

    Reply

Justin

March 25, 2016 at 7:25 pm

I’m Just getting into looking into trading and starting to paper trade. What tips can you give me?
What broker do you use?

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    jhgallina

    April 7, 2016 at 2:40 am

    Justin I hope my page how to get started has helped you. I use Wells Fargo looking to change to trade soon.

    Reply

Dbradley

April 3, 2016 at 11:38 pm

Hi Jane,

I’m a newbie as well. I was wondering is it really worth paying all that tuition for the challenge, rather than just paying for a monthly silver?

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    jhgallina

    April 7, 2016 at 2:37 am

    It is not only the money but also the time commitment to the challenge. If you are able to commit a year to study and watching the market it is worth it. If not then the silver and individual dvds might be better.

    Reply

Kevin Scalley

April 8, 2016 at 1:36 am

Hi Jane! I am on the fence of scanning tools. I just finished my trial demo of Stocks to Trade and I think that is a work in progress. Having discovered all your social media sites a couple weeks ago I discovered a few different mentions here of Trade Ideas and Equityfeed. I downloaded both this week which each both have there very slick parts. I am not ready to trade due to full time business but have buried myself with 60 plus Tim Sykes DVD’s along with all my YouTube viewing of the last couple months. The more I learn the more I feel I need to learn! You obviously seem to use two scanners and I want to use and sign up for at least one to learn and use paper tradeing. Not that I would not sign up for two….But that is expensive. Trade Ideas has a discounted offer through tomorrow. Not much in the way of reviews on either to latch on to so I wonder of your recommendation? Thanks for reading this and keep up the great work and energy!! ;))

Thanks!
Kevin Scalley @kevin_scalley

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    jhgallina

    April 9, 2016 at 11:55 pm

    Kevin I would say take a look at the trade ideas free trading room as well. You can ask Barrie questions. Equityfeed I use more for my charting and level two however it is basically Stocks to Trade 1.0. You can set up alerts filters watch lists news alerts and more. I would say if starting part time and you need something that gives you level 2 charts and alert options Equityfeed is your winner. Then once you make your first $500 invest monthly in Trade Ideas. You can’t beat 19 different pages of scanners. I will post a photo on Twitter for you to see. With 4 different views.

    Reply

Kevin Scalley (@kevin_scalley)

April 10, 2016 at 12:19 pm

Thanks very much Jane! I thought a couple comments I made here disappeared into cyberspace. Must be an auto delay in system… Equityfeed emailed me early Fri with a one day offer on North Atlantic bundle for three months at $100 per month vs $270. I gladly took that! I have the Trade Ideas demo and had checked in about three days this week to Barrie. Very attentive and nice staff there. Still need to look closer on Trade Ideas demo. I have a two week trial to Tim Sykes Silver I want to trigger and have his complete DVD set I found on Ebay I want to watch as well. Held off on the Challenge student offer due to my business schedule. Been steady at this a couple of months basically nights and weekends as I buried my self with even more info and want to do my homework before I open a trade account. We seem to have the same likes…
Enjoy your family!

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Bart Puszko

June 18, 2016 at 2:53 pm

Hi Jane,

I’m also a Tim Sykes Challenge student and am in the process of choosing a scanner. I’ve read the post from Kevin Scalley and wanted to ask you, if it’s not too much trouble, which of the 3 you would recommend (StocksToTade (STT), Equity Feed (EF) or Trade Ideas).

I’ve been studying for some time now and also started trading however put it on hold to improve my knowledge.

Are there any features that one software has over the others? I’ve heard that the charting in SST and EF is quite poor? Have you used maybe version 2 of STT?

I’d be grateful for your insight!

Kind Regards,

Bart Puszko
(aka Kopboy on profit.ly)

Reply

    jhgallina

    June 21, 2016 at 12:21 am

    Bart,
    I did try STT 2 but I saw a lag in the level 2 so I stuck with equityfeed. Equityfeed was where the data feed used to come from for the first Stocks to Trade. They still have the filter capacity and news Alerts from then. I use Equityfeed for the level 2 rice action and the charts. Trade Ideas I use more for scanning and alerting of stocks. They have so many different pre-made scanning pages and the ability to create your own custom alerts. Trade ideas also has the ability to set up your own custom alerts and the customer is amazing.

    Reply

Dana B

July 9, 2016 at 11:56 pm

HI Jane, I’m so thrilled to have found you. A female trader. Someday I’m going to say a fellow female trader! I’m in Calgary & am researching trading platforms. Which one or ones do you prefer?

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    jhgallina

    July 10, 2016 at 3:54 pm

    I like Interactive Brokers if you have the capital to open an account with them. They have the lowest fees around and good executions

    Reply

John

July 12, 2016 at 10:43 pm

Hi..Congrats and I am also a TIm sykes student. May I know how much you started your account with ?

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    jhgallina

    July 14, 2016 at 3:13 am

    John I was a value trader first so I had a sizeable account when I started if you read my post how I came to daytrading it tells my story

    Reply

Laura

July 13, 2016 at 8:15 am

Hi Jane,
I found your page through Tim’s blog, I have barely had time to have a deep reading to it but I feel that will really make a change in my trading study process. I guess you’ve read it thousands of times but is just admirable how you’ve built up your trading career. I don’t even know you but I can say you must deserve it because I can guess how much effor you’ve put on it. People like you & Tim are the ones that can help people in changing their lifes. Keep up the good work!

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    jhgallina

    July 14, 2016 at 3:13 am

    thank you Laura

    Reply

Dannette Campbell

July 22, 2016 at 11:27 pm

Hey Jane,
I just finished reading this blog post of yours. I have a question you said it cost about $6000 to start with Tim Sykes what program is that? Where you chosen to be one of his students ? I went to profitly and watched a short video and I’m totally lost what do you choose? He has tons of books,ect. I just don’t know where to start any help would be greatly appreciated.

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    jhgallina

    July 23, 2016 at 4:09 am

    Dannette I did apply and paid the $6k for being a challenge student. If you don’t have the capital available for the I would recommend buying How to Make Millions, Trading Tickers and Triforce Traders DVD. Those 3 encompass a lot of learning material. Then I would suggest the silver subscription as a monthly charge instead of $6k up front. Just a matter of perspective on getting started.

    Reply

chris from VA

July 23, 2016 at 10:53 pm

could you please tell me how much you decide to buy share wise at a time. And what is your stop loss or percentage you are willing to lose. Let say you started out with 50k do you divide that up or go all in and take a small loss if you are wrong your do you divide that up into 4 equal parts to limit you exposure. I’m just curious as to how you go about how many shares you want to buy. Maybe I’m not making any sense, but that is a hurdle I’m at right now. I’m good at finding the stocks and chart set ups. I’m just wanting some help on position size. Trying to pick your brain a little,
thanks,

Reply

    jhgallina

    July 24, 2016 at 12:28 am

    Chris, I use position sizing based on how much I’m willing to lose. For me that is part of the reason why I don’t trade super large amount of penny stocks because each cent against you could deplete your account quickly. So I tend to try to time my entry properly to really limit my risk and look to take a position that will give me a nice gain with 40-1.00 move.

    Reply

Michael

July 2, 2017 at 10:03 pm

Hey Jane. Thanks for the post, read it a few times. Would like to know your favorite broker. Is it still IB? Which broker is the best for small accounts due to having the lowest commissions?

Reply

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