Will your custom Indicators/Algorithms offer any advantages over the traditional or free ones on my platform?
I can say honestly that as a professional trader, I have found the ability for them to crunch hundreds of calculations in less than a second (real-time), extremely useful. I built them to add an edge to not just my trading, but all retail traders that choose to be empowered by UPRIGHT's groundbreaking algorithms. With that said, there's really no such thing as a 'holy grail' of all indicators that will essentially do everything for you. They are tools, UPRIGHT's tools are just much sharper than others.
Will they work with my trading style?
One of the beautiful parts of the UPRIGHT indicators is not only are they extremely accurate, but we made them for all timeframes, and every style of trading. Whether you're naturally bearish, lean bullish, seek reversals, or trade with the trend. We have a solution for every style and experience level.
What is one thing every trader should know?
The one thing I will continue to repeat to all of my students and members. Trading is risky. Manage your risk. Stick to your rules. Have an entry and an exit strategy, know your levels (support/resistance) before entering every trade, and have an actual or mental stoploss and stick to them.
I love your indicators, but some of them I could use a tutorial for. Can you make some videos explaining how to use them?
Not only will I be adding tutorials, I will add a trading learning course section for members!
Is there a minimum amount of money I need to Day Trade?
This one can be a complex question. You'll need to know how much you need to make each day as a trader; also, how much cash you have to work with. If you're starting with under $25k, than the PDT rule will keep you from trading more than 3 times per week. There are a few brokers that are outside the US that don't enforce the PDT rule, but as far as I know all of them do have more fees. In the US most brokers will give you 4x leverage if you put $1000 into the trading account, so you'd have access to an additional $3000, and as long as you close the trades before the end of the day, they won't charge you a fee for using it. The caveat is still the PDT rule.
The other option would be to use a cash account (with no leverage), the downside is that every dollar traded in stocks has a 2 day clearing (hold - like waiting for a check to clear) and every option traded has a 1 day clearing for most US traders. Depending on how well you trade, $5000 would probably be enough to make $50-100/day consistently, if you manage your risk properly and take good trades.
Are there different trading styles? What are the main ones?
There are Day Traders, Scalpers, Swing Traders, and Investors. Not every trader in each type strictly trades as how I will outline, so these are more like guidelines to each style rather than rules.
Scalpers really are a subcategory of the Day Trader style, but some consider it a style of its own. The crucial difference between those two is that Scalpers are (scalping) in and out of a trade quickly and profit from trades with smaller movements; Whereas, Day Traders do some scalping, but they maximize their profits each day on just a few trades with large movement. Often, Day Traders will focus on low float (has a low number of shares available) stocks that are more volatile, to get this large movement as the stock squeezes up (or down). This is the environment most either thrive or die in. Like every trader, the goal is to have more profitable trades than not.
Swing Traders are more methodical in their longer term approach; using both fundamental and technical analyses to approximate an eventual uptick in an asset (stock) value. They tend to hold their positions for days, weeks, etc. until the stock/option hits their target or they have to take a loss. Lastly, Investors are essentially swing traders that have long time horizons; they'll typically measure performance in months, quarters, or years.