|
,601,https://www.reddit.com/r/Trading/comments/lxd6d5/its_crazy_that_i_almost_thought_about_monetizing/, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5 Tips for Trading Noobs,407,https://www.reddit.com/r/Trading/comments/k70ptj/5_tips_for_trading_noobs/, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shiba URGENT!!!,246,https://i.redd.it/d6fdr9o50m3b1.png,
|
|
Standing Together,190,https://i.redd.it/0liaerekiuj81.jpg,
|
|
Surely this is some sort of market manipulation absolute shambles.,190,https://i.redd.it/ujicqdc592e61.jpg, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
,175,https://www.reddit.com/r/Trading/comments/l9g6xm/everyones_got_guns_but_do_you_have_bullets_well/, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Not sure Reddit is worth the effort,139,https://www.reddit.com/r/Trading/comments/lbxwls/not_sure_reddit_is_worth_the_effort/, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
What I Learned From Citadel’s Training Software,126,https://www.reddit.com/r/Trading/comments/122y2zq/what_i_learned_from_citadels_training_software/, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Don't tell people that you are trying to become a trader,127,https://www.reddit.com/r/Trading/comments/g60t8i/dont_tell_people_that_you_are_trying_to_become_a/,"I agree completely. Even when I seek advice from people, they suggest that I should just stay safe and put my money in mutual funds or ETFs, even though im aware of the risks and want to learn how to trade. Mistakes will be made, its all about learning from them. |
|
I don’t tell anyone about any of my plans. |
|
|
|
people just criticize and bring you down, I only talk about my plans to a couple of friends I fully trust that’s it |
|
I just keep a screenshot of my performance charts to show them. I don't get into the details. |
|
Imagine being a vegan, intermittent fasting, trader! |
|
Yes, you are right. I've been training to be a trader for months now and haven't told anyone because I know if I tell my friends and family, there will be all negative about it |
|
For a long time I carried this fear that one day I'd go bust, lose it all, and have to hang my head in shame so was reticent to identify as a full-time trader. After around 15 years of so that fear faded away. |
|
Trading is a hard way to make a living. I wouldn't want any of my children to follow in my footsteps. Don't get me wrong, I want them all to be successful investors - but with a good education and a REAL job. |
|
I agree, trading is about keeping it for yourself, whether you talk about your job or position, just be humble about it, it's nothing crazy or special, just execute and stfu. |
|
Analyze yourself, you're no better than anyone else, you just do what you love, so just work |
|
And those people who know nothing about trading start giving you advice |
|
I mean i've gotten some unwelcome advice from those that asked what I do but it usually comes from a good place. Never really bothered me. |
|
1. First they laugh at you |
|
2. Then they challenge you |
|
3. Then they appreciate you |
|
4. Then they set you as an example |
|
|
|
I completely agree with you! Actually Right now I'm on my way there and I trade with my savings, completly passionate about it and believe it can be done, but my parents just won't stop telling me it can't be done and that I'm doing the wrong thing. |
|
|
|
Hope eventually it will work out somehow. |
|
[deleted] |
|
Exactly, the thing is when you have projects in general you should’t reveal anything let the success make the noise. Ignore the one that never believed in you (besides the parents) |
|
It has to do with the crab mentality. When crabs are in a recipient, any crab that tries to climb out of the container is dragged by the others so that it does not escape. |
|
Unfortunately I find this to be the case with almost any undertaking. You want to cycle across the country? Keep it to yourself til the last second. You want to go vegan? Keep it to yourself until you’re 6 months in. You want to trade stocks? Keep it to yourself, maybe forever. People are going to tell you that something somewhat ambitious is impossible even when when you’re convinced you’re capable. |
|
Don’t worry about people... there are known unknowns and unknown unknowns. People always think their little bubble of knowledge reigns high enough for their small perspectives to be given as “advice”. Nobody knows anything, nobody as experienced everything. You’re on your own path. Embrace stoicism and Taoism- those two philosophies will help keep your head sound. Fuck everyone and their opinions- you have one life. You die once. |
|
[deleted] |
|
You just dont trade only in your life, thats really not a sound career I think |
|
Why don’t you politely educate them ? |
|
Haha yeah. I always love that “just put it in a safe investment and buy and hold” as if I don’t already do that. They also think that you should be making thousands of dollars right away.. unlike every other skill that takes obvious practice, they automatically think you will get rich quick. I suggest to anyone, just keep to yourself and when you start profiting a lot.. maybe let them know haha |
|
Good idea |
|
Haha great idea actually |
|
Haha, my friends still think I have some kind of eating disorder because I do OMAD. |
|
Yah man. Just keep to yourself, it if comes up it comes up... keep grinding bro |
|
Agreed. Very well said |
|
Hahaha oh yeah. LOVE that. |
|
Ur the lucky one |
|
Don’t listen to them, keep grinding ! |
|
Trading with the 200$ you made mowing lawns ? |
|
Very good point |
|
Agreed. Good point |
|
[deleted] |
|
I agree thag traders should have a 2nd source of income.. most of them do. Usually rent from real estate lol |
|
I have tried to lol. They just don’t understand.. or they end up saying something like “well are you making any money yet” and when my answer used to be “no not yet” or “I’m around breakeven” they just were turned off to it. For some reason, every other skill or career path it is completely reasonable for it to take time and for you fail at it first, but for trading, you must be making money right away or it’s a waste of time and doesn’t work. |
|
Your friends are dumb :) |
|
Thanks man 😁 |
|
Just had my GF brother tell me to buy all the stocks and that he did it in the past and made £350. |
|
Buy high sell low! |
|
hey we all gotta start somewhere. what you think your better with the $200 you made giving handjobs under the bridge for 5 bucks a pop. |
|
[deleted] |
|
LmAo.. wow. You literally just admitted before to paper trading. Go trade on a real acount, it’s extremely different. Also, nobody agrees with you based on the reactions you’ve received, and the reactions I have received. Trading is extremely difficult.. nobody said they are curing cancer either. Congrats for making the dumbest comment this sub has ever seen lol 🤣 |
|
Some trader on twitter confessed to losing a lot of money and lots of others chimed in to comfort him. You would be surprised how many admitted that trading wasnt all that profitable for them. One guy said he had been trading for (i cant remember how many long) years and invested thousands of hours in studying but figured he was around break even. |
|
Wow bro you should listen to him!! Sounds like he knows what he’s talking about!!! Lol |
|
perfect strategy 👌🏻 |
|
I like it when they make my lips bleed |
|
[deleted] |
|
[deleted] |
|
Yah the vast majority don’t make it |
|
[deleted] |
|
LOL. Do it then pal. If you think it’s so easy and you can just build an a.i for trading and become consistently profitable over time then wtf are you doing? Thanks for becoming another meme with this new comment. Keep em coming |
|
[deleted] |
|
Bro go look at what this moron is saying about trading lmfao |
|
[deleted] |
|
Showed the traders in my discord group. Thanks for the free laughs. You are now a meme lmao |
|
[deleted] |
|
Wow you are probbaly the cockiest most delusional person I’ve ever talked to on discord lol. I do not mock algo trading, I never said anything negative about algo trading you delusion idiot. I told you to build one if it’s so easy. Trading isn’t clicking buttons.. that is the most idiotic thing I have ever heard anybody say. That’s like saying performing surgery is using the tools LOL |
|
Trading is easy and it’s just clicking buttons apparently |
|
[deleted] |
|
Trading is not easy. You are fucking retarded lmao. Would love to interview such a cocky moron like yourself.. would be interesting |
|
Once again. Thanks for the laughs |
|
[deleted] |
|
Yah ok you’re right broo. Trading is so easy bro LOL |
|
I mean.. you paper trade. So you would know how easy trading is lmao. At this point I’m pretty sure you are just a troll.. because I don’t think anybody can actually be this ignorant and stupid about something and think they know it all lol. And you brag about how much money you make.. that’s a big red flag hahahahhah |
|
The markets take money from the inpatient and gives it to the patient -some dude |
|
This is so true! My losses often come from when I fomo instead of waiting for a better opportunity |
|
Absolutely! The best phrase I’ve heard is “patient aggressiveness”. Or like standing in a batter box waiting for your pitch. Once it comes, take that swing like you mean it! And let the others pass. |
|
|
|
I’ll also say it’s one of the hardest things I’ve had to master as a trader. Especially when it’s a “bad day” and going sideways... it’s amazing what patterns our minds can see and make up. LOL |
|
That is very correct. Be a sniper, not a rambo! |
|
Yeah being a casual trader with a w2 is one thing but as a full time trader... rent is due every 30 days, I’m hungry every 8 hrs, and I get bored on the weekends. |
|
One of my problems is that im so bad at having cash. Always have my whole stash invested, be it long or short term. Im finally profitable this year but ive missed some great oportunities because i didn't enough money to buy. I need to learn how to be better at waiting |
|
I traded to -1.5R loss yesterday and instead of continuing to trade I stopped despite my limit being -2R for the day. I did so because I could feel the emotions of anger and the temptation to revenge trade creep in, so instead of being irrational I decided I would wait for the next day. Thanks for this post it affirms I made a better decision. |
|
That is genius I can’t tell you how many times I’ve lost money this year by selling to fast ! |
|
Fomo is real. This is great advice. |
|
|
|
Don’t miss out!!! PLTR is about to go through demo day and then earnings release right after!!! |
|
|
|
Btw, NY just legalized weed and VA is about to follow... don’t strike out by not swinging!! |
|
Dude I literally just came to this sub to ask for advice on exactly this matter. |
|
|
|
I have a bad habit of needing to stay in the market. I just can't simply watch potential profits run away. |
|
A lot of wise losers throwing quotes at each other and nodding in cattle-like agreement. |
|
|
|
There is always a good time to trade... It just depends on your timeframe and investment horizon: |
|
|
|
\-If you trade the 1s chart, patience can be 10 min. |
|
|
|
\-If the trade the M chart, I'll see you in 2022 when the markets are calmer. |
|
|
|
If you trade both, then you'll hedge against everything. |
|
I lost way too much money yesterday. Started off poorly today and packed it in. Got other shit to do that doesn’t lose money. I’m going to spend some time trying to create an easy language strategy for trading the spy and see if I can come up with one that will net reliable, if small, gains. |
|
Your statement isn’t wrong. Most people wouldn’t lose nearly as much money if they just held instead of trying to scalp with literally 0 knowledge. Most people would make much more money if they were first patient by educating themselves on the markets and then picking a strategy that befits them. |
|
That was me |
|
true, we tend to look all kinds of indicators, seeing the numbers is easy. But seeing the indicator like FOMO we don't listen. FOMO is an indicator that it's already too late. FOMO is an indicator, treat it like one |
|
“Men (includes women too in traditional english) who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money.” |
|
To have a career out of trading, it's more important to stay in the game long enough. |
|
|
|
|
|
Follow up to this post: [https://www.instagram.com/p/CNSWauugxxm/](https://www.instagram.com/p/CNSWauugxxm/) |
|
Great decision you made. In fact, it's impressive that you were able to stop yourself from trading despite not hitting your limit. |
|
...shameless plug shhh |
|
I keep around 30% cash or the equivalent as ammo for the big crash. I then use a margin account and trade CSPs or spreads with some of that cash as collateral. It keeps me busy so I don’t feel I have to touch everything constantly, but leaves me the cash I need for special events. |
|
Try looking at it differently. If the market presents $3000 of profit in 3 separate trades that day, and you work a total of 4 hours, are you happy getting 1 successful trade in 1 hour and making $800? This would amount to making $200/hr even if you sat and watched potential profits run for 3 hours. If you are okay with that, then look at it like you managed to make good use of your 4 hours, even if you missed 2 of those 3 trades. |
|
|
|
It depends on your financial/trading mastery goals, but if you can figure this part out in your mind, you'll start to feel more comfortable with missed profits. Also, this is assuming you have a working strategy, because once you do, you'll realize there are basically an infinite number of identical setups coming in your future, and missing one today (or even all of them today) is no big deal. Jumping into one and getting burned due to a bad entry or misreading and simply taking the wrong trade, however, will eventually become a big deal. That's how I've made sense of it, and it feels a lot easier for me now. Good luck! |
|
What you might need are levels where you decide what to do with your positions |
|
That was me!! 🤪 |
|
Yea, that's right. Sitting tight in a trend is especially important. Some traders will try to trade every move in a trend and it becomes taxing on them mentally |
|
Money is a blessing and a curse. I still rather have too much money problem than no money problems. |
|
So you are a journalist, peddling ideas, not a trader? Who needs you if people want average returns of buy and holding indexes? |
|
I thought it was pretty funny... I’m glad I amuse myself at least. |
|
Thanks for the great advice! |
|
Being impatient gives one no-money problems. The importance of waiting and the dangers of trading for the sake of trading cannot be stressed enough. |
|
Not a journalist. We have 2 traders on our team. |
|
Are you one of them? |
|
yup! we provide analysis and insights |
|
[https://trackrecordasia2960.ac-page.com/mailing-list](https://trackrecordasia2960.ac-page.com/mailing-list) feel free to join our mailing list to receive them in your inbox daily. or you can check out our latest write up @ [https://medium.com/trackrecord-daily/the-cracks-in-the-usd-are-starting-to-show-2ff5a0127388?sk=a031323faa37bc8770d05569f6f10fcc](https://medium.com/trackrecord-daily/the-cracks-in-the-usd-are-starting-to-show-2ff5a0127388?sk=a031323faa37bc8770d05569f6f10fcc)"
|
|
My GOLDEN RULES of Trading (after 15+ years in the game),124,https://www.reddit.com/r/Trading/comments/16srgm4/my_golden_rules_of_trading_after_15_years_in_the/,"Creating a flow chart helped me a ton and prevented my big problem of analysis paralysis |
|
My problem with this list is number 9, I have no friends... |
|
waking up at 7AM ? wouldn't that depend on where u live and which markets u trade ? |
|
As someone who’s actually been in the market for 18yrs I can say this is a bunch of platitude bullshit. |
|
|
|
2008 would have ripped apart all your plans, guys who had great decade long track records and discipline were being carried out on stretchers. |
|
|
|
And the guys who did catch the bear got taken to the woodshed in 2009-10. |
|
|
|
The next bear will be the same, current players will be washed away replaced by new egos and faces and posts just like this. |
|
I would add nurturing your mental health and emotional well being. These things have a way of manifesting themselves in our trading. Also need to have a self belief that you deserve to be profitable. Some people have negative self beliefs that cause them to sabotage themselves so they fall back into negative habits. Have to clear that mind of negativity. And lastly, get enough sleep. At least 7 hours if possible. It does wonders for mental clarity. |
|
At what point do you go to your job at Wendy's? |
|
My rules. Make good trades. Don't do anything stupid.🤣 |
|
The trend is your friend until the end. |
|
Took you 15 years to make this list? All of these come up 100 times in a 15 second google for “trading rules” |
|
Your Golden Rules of Trading provide a concise and valuable set of guidelines for traders, especially those who are new to the trading world. |
|
|
|
Let's break down each rule:
|
|
|
|
Self-belief: Confidence in your abilities and your chosen trading strategy is crucial. Self-doubt can lead to hesitation and second-guessing, which can be detrimental to your trading decisions.
|
|
|
|
Waking up at 7 AM: Establishing discipline and a consistent routine is key in trading. Starting your day at the same time each day can help you mentally prepare and stay organized, ensuring you don't miss important market events.
|
|
|
|
Having a plan: A well-defined trading plan is essential. It should encompass your chosen trading strategy, clear risk management rules, and precise entry and exit points. Having a plan provides structure to your trading activities.
|
|
|
|
Sticking to the plan: Discipline is paramount in trading. Deviating from your trading plan due to emotions or impulsive decisions can lead to losses. Sticking to your plan helps maintain consistency.
|
|
|
|
Not overtrading: Overtrading can lead to exhaustion, increased risk exposure, and poor decision-making. Trading should be deliberate and well-paced, focusing on quality over quantity.
|
|
|
|
Eat healthy (very important): Physical health is often overlooked but critical. A healthy body and mind are essential for staying focused and alert during trading hours. Proper nutrition supports your overall well-being.
|
|
|
|
Feel the market, context is everything: Understanding the broader market context is crucial for making informed decisions. Factors such as news events and prevailing trends can significantly impact your trades.
|
|
|
|
Cut your losers short: This is a fundamental principle of risk management. By setting stop-loss orders and adhering to them, you prevent losing trades from turning into substantial losses.
|
|
|
|
Trend is your friend: Trading in alignment with the prevailing trend can enhance your chances of success. Attempting to trade against a strong trend can be risky, so it's often wiser to follow the trend's direction.
|
|
|
|
These rules underscore the importance of both the technical and psychological aspects of trading. They emphasize the significance of discipline, self-awareness, and adaptability – all of which are critical qualities for traders aiming for consistent success. |
|
|
|
|
|
Thank you very much, I agree with this post %100 - 8 years of trading |
|
How do I do numbers 3 and 7? |
|
|
|
How do I formulate a plan? How do I gain a 'feel' for the market? |
|
|
|
Newbie question, sorry. |
|
Get sleep! |
|
Does having a margin account make a huge difference to you |
|
Elon Musk doesn't eat healthy and he's worth $300 billion. |
|
15 years of trading .... have you beat QQQ ?.... |
|
My first rule if you want to be profitable : have an IQ above 130 |
|
Dude this should have taken you 15 minutes not years |
|
Yeah I agree but honestly I believe that fundamental analysis has impact but how can I as newbie to learn properly evaluate all those news what are connected with my pair and how even that am I suppose to write to code. I am primary using technical analysis even though I don’t go with money since I am broke and paper trading is for me enought. Also I don’t feel urgency to check nonstop the app so the connection is missing somewhere but I think that when I learn mql5 and I will deeper understand technical analysis it could work but if you don’t mind I would like to ask you then few questions but I will have to prepare them so they re not stupid and they can advise me like these 15 rules. Because these are atomic habits and those I am working on aplying but it’s not everything since that 1% can always make a diff. Thank you for you advices anyway |
|
How do i know when something trends? |
|
Amen to that, |
|
Related to #8 risk mitigation |
|
this is great, thank you |
|
Good rules, although I would add exercising regularly to be mentally sharp. |
|
If you dont mind me asking what do you trade and what is your strategy? |
|
Alpha: once you're rich from following the trend, everybody is your friend |
|
Yep. 530 for me. |
|
Dumb comment, OP still has valid points. |
|
|
|
He's just saying a trader who follows those bullets will have more success than ones who don't. |
|
|
|
Not that your invincible to the two worst crashes in history. 2008 wrecked most traders. That doesn't mean there's not routines and patterns you can follow to have better success. |
|
I'm glad the community has found value in my post, instead of laughing about it being basic. So many people constantly jump around from strategy to strategy looking for magic silver bullets, while they don't even have a solid foundation of basic skills to build upon. **I hope my post serves as a reminder that you have to have the CORE BASICS handled before you worry about anything else.** |
|
Since you're experienced, can you explain something I can't quite understand? So, what is wrong about bear markets and you say most people would be wrecked by them. Can't you just short the market if it's dropping? |
|
before waking up at 7AM |
|
Have you mastered them? We can talk when you have 15y under your belt. |
|
We all know what to do, but following the rules is very difficult with ego, greed and fear playing tandav on the traders. Controlling those emotions are the key. So kudos to OP for finally being able to follow the rules. |
|
100% agree with your extended analysis on my points - nice work, thanks for sharing! |
|
Plan: Backtest, then forward test with a small account, then scale into a bigger account. |
|
|
|
Feel: Time in the market beats timing the market. After spending enough time literally looking at charts, you'll see stuff keeps repeating. Markets are nothing but human psychology in graphic form, so over time you can get to see patterns forming. |
|
How do you know? Are you in his kitchen watching the food he consumes be prepped? |
|
|
|
Dude probably has hired chefs to make his meals. |
|
dumb |
|
Hard Work > Talent |
|
They journey of a thousand miles begins with a single step |
|
Higher Highs + Higher lows up trend. |
|
|
|
Lower Highs + Lower lows down trend. |
|
|
|
Other mess is probably accumulation or distribution. |
|
|
|
Once you break a higher high the previous higher low is confirmed and becomes the swing low. The current high would be the potential swing high. Once you break the swing low it signals a trend reversal which you would look to confirm with a lower high and a lower low. |
|
|
|
Search market structure on YouTube. |
|
Trendlines, increased volume, news release. |
|
And none of them really are |
|
That would be scary, hehe |
|
Lol 4:30 for me, I am in PNW. |
|
Routines and patterns work until the market changes. Successful traders are just bull market geniuses. |
|
|
|
Any list that includes eat healthy, get plenty of sleep or exercise regularly is always nonsense. |
|
|
|
Here's a guaranteed path to success that actually works - Wait for the bear market to wipe out everyone and stocks are hated, buy the index or a bunch of stocks - you can use a dart board and do well at this stage - hold until the idiots show up. |
|
|
|
All bull markets follow the same pattern, first the smart money (2009-2012) then the public (2013-2018) then the idiots aka GME apes, 0dte option sellers, etc (2019-2021). |
|
> He's just saying a trader who follows those bullets will have more success than ones who don't. |
|
|
|
Not true. They literally open with “all you need is:” |
|
You can. I think people got rekt because they either didnt see the bear market coming or they did, made money off it, but got destroyed as it recovered because they couldnt change their bias |
|
when you are short, you risk infinity for a maximum gain of 100%, when you go long your maximum loss is 100% and there is no limit to the potential gains. |
|
Sure guys like xtrends shorted it all the way down and did fantastic. Then shorted 2009 all the way up - double dip was the popular term back then. |
|
|
|
You never know when to stop because it rallies 30% and we could be in a new bull or just another bear rally. |
|
|
|
Check out 1929 - lots of very convincing rallies only to drop more eventually 85%, no one has a plan for that. Livermore somehow did it only to wreck himself multiple times later. |
|
Dan Marino played 17 seasons and never won a Super Bowl |
|
Thank you! Any markets I should watch specifically? |
|
|
|
Seems like Feel comes before Plan as it would help the Plan to formulate. |
|
He's overweight! He also stated that he eats whatever he wants. |
|
Elon said I'd rather eat a tasty diet and live a shorter life..."" |
|
|
|
He doesn't like vegetables and rather eats meat and potatoes.. |
|
How do you do it? Honestly I need space heaters to warm my joints |
|
I think we both know that OP's point wasn't that eating healthy will make you rich in the markets. |
|
|
|
It was that being disciplined and routine driven will help you be more successful at whatever you are attempting, including trading. |
|
Well of course if the market is flat or in a loooong uptrend initially you will lose but if it keeps dropping, ...just short it? |
|
when you place a trade, long or short there is take profit and stop loss so I just don't see where is the difference, sane people would risk only like 1-5% of their account on each trade (sub is trading not investing) |
|
Livermore also heavily leveraged (10-15x margin) way more then what is safe. |
|
Let me assure - I'm absolutely printin' |
|
What markets are you interested in? Or what do you plan on getting involved with? |
|
How much I'm curious. I want to get into but I feel the net profit after taxes, expenses, etc is not high enough. Are you doing high 6 figures or more? |
|
Right now, I'm reading about stocks and options. Stocks because I have some long-term positions and options because they seem to be able to control risk better whilst also providing leverage. |
|
I've been doing this full time for 15+y. That says it all. |
|
Yes options are meant to control risk. Not burn money like lottery tickets. Good start. |
|
|
|
If you are US then S&P, 10 year Treasury, and US dollar are the main things to watch for a start. |
|
|
|
These guys have a good short daily, also on Youtube https://www.investors.com/news/stock-market-today-stock-market-news/? |
|
I respect that but I still wanna know ballpark what your profit is if you're willing to share. |
|
Great, thanks! From what I've read and seen, a lot of importance is placed on the relative strength/weakness of a stock compared to the S&P. |
|
|
|
I'll start watching the S&P and researching any known patterns, trends, seasonality, etc. |
|
Nah. That ain't how this works man. Count your own money. |
|
Right now the general market is not doing very well but oil has been going up. Find XOM area on the map. https://finviz.com/map.ashx?st=w13 |
|
|
|
https://www.realvision.com/shows/daily-briefing/videos/energy-crisis-part-ii-52rX?source_collection=f0ad5f4e50cc4a638a8a9587c54dcfec&tab=details Be cautious of what that guy says it's a good ides until it doesn't work anymore. That is on youtube as well. |
|
Wow! Thanks for the great links! |
|
i’m a high school senior....... can i join? LOL |
|
Our Economyprofessor wanted to teach us the risk of daytrading with a livepresentation (demokonto). Instead of losing everything he accidently got rich at the end of the our xD |
|
I really wish more childhood investing education was available in schools. It’s really gross as the most important resource in investing is time and I know so many people that will have hampered retirement lives just because of a lack of exposure to one of the most important things they will ever put money into (and no I don’t mean hold GME). |
|
Doe´s she have an allowance yet? \^\^ |
|
This is dope as fuck, you are the true Goat!!! |
|
Buy dogecoin |
|
It’s under 3 cents right now |
|
HOLA COMO HAGO PARA UNIRME |
|
I wish I had someone explain it all to me |
|
High school senior here, I need someone to teach me imao |
|
That’s so capitalist of you!!!! Rock on! |
|
Thanks for share |
|
How has this worked out for you in practice (returns etc)? |
|
Thanks! |
|
Good day, first of all, thank you very much! |
|
Second, I am trying to import it into ToS. Sadly, it always post waiting for results, then it times out. This happens 6 out of 10. Do you know how to make it less error prone? |
|
Again thanks! |
|
First of all, thanks! |
|
|
|
Quick question: Were you able to backtest this system? Are you able to backtest scans? |
|
|
|
I'm asking for selfish reasons as I have a personal system I'd like to backtest that relies on market scans. It's different from the system you/Minervini use but definitely has a lot in common |
|
Which of his books has this information? |
|
I believe you can get Minervini's scan template on IBD. It may be as part of the MarketSmith subscription but not 100% sure. One of the recent interviews between the IBD folks and Dave Ryan shows how to get it. |
|
Very interesting strategy. But when you say today, are you referring to yesterday? Or are you doing this at the end of the trade day? |
|
|
|
​ |
|
|
|
LE: Also, how does one calculate the 50 Day Median Dollar volume? Is it the median of OHLC4 \* volume for each day? |
|
You’re welcome! Hope it’s helpful! |
|
Best discretionary trading results I've ever achieved. |
|
|
|
Up 23% in my first five months of trading in this style while having been only 70% invested on average. |
|
|
|
Batting around a 50% win rate with a 1.60 RR but expect these stats to improve as I continue to gain experience and refine my approach. |
|
You're welcome! |
|
Are you deleting the other filters and scanning with Minervini’s criteria only? With all the filters in place I’ve never run into any errors because the list of stocks is usually quite short (in the hundreds). With only the Minervini filter you’ll get errors because it’s trying to load a list of stocks that is EXTREMELY long. |
|
You're welcome! |
|
|
|
What about it would you like to backtest? Minervini's style of trading involved a lot of discretion so I wouldn't be capable of backtesting his strategy. I've found it more effective to just trade live and see how my results pan out. |
|
|
|
Certain conditions are easy to backtest, others not so much. Feel free to run your conditions by me - if it's easy to code I'd be happy to test it for you. |
|
Both! |
|
I scan every day after the close to ensure I'm prepared for the following day. So when I say today I mean today. |
|
|
|
That is exactly how I am calculating Median Dollar Volume. Using VWAP would be more precise but OHLC4 is a good enough approximation for me. |
|
|
|
Cheers, and thanks for the question!"
|
|
Built website where people can build trading bots without code,107,https://www.reddit.com/r/Trading/comments/m1gw05/built_website_where_people_can_build_trading_bots/,"✊ |
|
This is pretty cool. Looks very polished at first glance. |
|
This is interesting, I’ll try it later |
|
Definitely cool, I like the purple. I’ll check it out more once I got my laptop. |
|
Post this to the r/algotrading subreddit |
|
Not bad for a frosh |
|
[deleted] |
|
Does it work with crypto? Also what is the pricing to use your platform? I assume it is NOT free? |
|
I think you will make a lot of money when you sell this |
|
Two things. One: I use PSAR to confirm macd entries AND as my exit so would love a PSAR feature. Also….options ability. And allowing a higher timeframe trigger. For example bullish MACD cross on the daily WITH bullish macd conditions on the weekly chart. Honestly an awesome project. Mostly you have to know code to do something like this so bringing also trading to everyone is dope man thank you |
|
Thanks! Lmk if you have any advice |
|
Thanks! Would appreciate any suggestions you have |
|
Great idea, right now I’m working on a pretty big feature so I might wait a little bit longer until this new feature is ready (I’ll send an update in this subreddit once it’s ready too) |
|
Sounds good! Currently it does not work with forex, only stocks |
|
[removed] |
|
Currently it only supports stocks and the platform is free to use |
|
yeah np!! |
|
[deleted] |
|
Goddamn useless bot |
|
Bad bot |
|
Yeah good idea I’m gonna look into it more |
|
Thank you, Zounasss, for voting on Shakespeare-Bot. |
|
|
|
This bot wants to find the best and worst bots on Reddit. [You can view results here](https://botrank.pastimes.eu/). |
|
|
|
*** |
|
|
|
^(Even if I don't reply to your comment, I'm still listening for votes. Check the webpage to see if your vote registered!)"
|
|
Four Quick Tips for the New Day Trader,108,https://www.reddit.com/r/Trading/comments/lowfxf/four_quick_tips_for_the_new_day_trader/,"I hear you to an extent but if I followed these rules I’d have missed out of some of the best opportunities I have come across. Sometimes there isn’t enough time do to 30 minutes of strategizing before entering a trade. Sometimes pre market buys 25% over previous close yield 100% return by the evening bell. I don’t think these are tips anyone should be taking to heart or following without understanding the endless exceptions to the rules |
|
Okk... Good....i will followup for weeks... |
|
My Strategy? |
|
|
|
I got three words for you: |
|
|
|
pump and dump |
|
Thanks for the feedback. I modified the post to be more specific about my target audience, which are for people that have less than six months experience trading in the market. I strongly believe the rules I laid out will help the new trader avoid the traps and pitfalls of the market. |
|
|
|
""Look both ways before crossing the street"" is great advice, until people learn that the odds of a car driving on the wrong side of the street is extremely rare, and so we tend to only look at the direction of the oncoming lane (let me not get started with bike lanes). That's all these rules are, general advice to help the new trader cross the roads of the market. |
|
|
|
Btw, there are some professional traders who do not trade premarket, so that first rule isn't only for beginners. |
|
Honestly inoffensive question WHNH -So you have your strategizing done and nailed down with 100 percent confidence before market open? - or you watch the first 3 mins and go by gut instinct? or have a solid premarket plan ready to launch PLUS a possible combo of DrivenTrade's advice, simultaneous a slide to abrupt total gut reaction ready to 100% dump your premarket plan = all 3 alternatives ? - Or do you have Plan A Plan B Plan C ? = No strategy survives contact with the enemy ?? |
|
Remember $SGOC a few weeks ago? 🤤 |
|
Glad you reframed and yes pre market is iffy sure but that doesn’t negate that it’s often the last chance to grab something that is going to zoom of an after hours announcement the day prior |
|
I look at the analytics for a few dozen stocks prior to opening every day to target a couple worth monitoring right after the opening bell. I find this useful to have some target stocks that look to be in good position to jump. I agree that pre-market trading is very risky for day trading. Once the market opens I continue to look for additional stocks that meet the right metrics. |
|
This. I have been trading for 20 years actively. I realized my edge was not in managing daily trends, so I don't even bother. So I spend my time on deep fundamental analysis to find a few stocks that I want to target, focus on daily and weekly charts for tactics, and options as my main instruments for position taking and profit. |
|
|
|
Starting off with day trading is the wrong end of the game for newbies. |
|
Yea can confirm. Daytrading has been incredibly difficult for me. Trends tend not to last, price seems to react more efficiently, and if you’re trading futures you have to deal with a fair bit of commission. There’s so many layers of behavior going on from the upper most time frame structure down to the lowest. |
|
Mixture of daytrading and swings is what keeps me going |
|
Lol fuck this noise. I started day trading 3 months ago and have turned 13k into 67k. Everyone is different, especially when it comes to the market. All about psychology is what I’ve learned. “Professionals seek profits”, literally everyone seeks profits and some are better at it than others. Don’t listen to this boomer |
|
What's the point of this article? |
|
[removed] |
|
Where would you recommend one go down the fundamental analysis path past typical book recommendations like the intelligent investor? |
|
If price discovery is happening more efficiently at intraday timescale, why would there be any exploitable pattern on interday timescale? |
|
|
|
If anything, the longer the sampling time becomes, more Gaussian the returns become. If there is any hope to make money, especially for retail trader, it's on the intraday level. Which is also not easy, because now you want to get into the business of ""timing"" the markets, which is a painful experience. |
|
Congrats on the gains! Don't get too cocky til you can do it when you're no longer riding the strongest bull in history tho. |
|
|
|
There are millions of newfound prodigy day-traders out there who think they they have it all figured out. |
|
That’s probably what a lot of the gen x day traders in ‘99 were saying. In 2001 most of them were wiped out and the day trading trend was dead in mainstream thought until recently. |
|
Just wanted to share some of my experiences with you. I was on top of the world in a previous bull run making money every day like you are now. When the market turned on me I lost my initial investment of 40k plus the 140k that I had traded up to. I stopped trading for 6 years. When I saw this bull market coming I decided to try my luck again and I am up significantly again. This time I have Patience, Caution, and have the Knowledge of an extremely painful loss. I am only replying you because you’re thread reminds me of my arrogance at the time of my loss and I hope you don’t ever have to endure the pain I felt losing 180k in 12 minutes. |
|
Lol, that's LOL for reals, I literally did that, when I read this. |
|
Can't roll, as am on a crowded road at the moment. |
|
[deleted] |
|
Once you get past the very basic concepts, the books don't really help that much. I probably haven't read an investment book in over 10 years and it hasn't prevented me from doing very well in my trading approach. |
|
|
|
My suggestion is start by reading an investor presentation and seeing if you can build a cash-flow model from what management has provided for forward outlook, and bridge back to the historical cash flow statements. Here's an [overview](https://www.reddit.com/r/investing/comments/lgwl98/dd_research_advice_for_newcomers/gmuur0g?utm_source=share&utm_medium=web2x&context=3) I provided on a different sub. |
|
|
|
The easiest to get started are oil companies (XOM, CVX), telecom (VZ, T) and utilities (EXC, DUK) for example, because these are companies that have relatively stable cash flows (telecom and utilities) or cash flows that are easier to model against a single factor (oil price). |
|
|
|
From there, you can get a sense of how the cash flow relates to their balance sheet - something that most novice investors don't look at, because they're just looking at the stock price. Most important is whether their capital structure (that is, debt levels, maturity schedule, servicing cost) is appropriate to their likely level of cash flows. Other important questions include understanding their gross margin and how operating leverage can work for (or against them ) if the business grows (or shrinks) as well as how their margins, operating costs, and overheads compare to competitors. |
|
|
|
Once you've done that and know your way around a cash flow model, then you can branch out to more speculative companies. For these, it's different, because you're making up a future story whole cloth. The most important about these also goes back to the balance sheet. There's nothing wrong with investing for growth and having negative free cash flow, especially if the return on invested capital is very high. But the challenge for speculative growth companies is that they have to survive the ""J-curve"" in cash flows where they are losing cash while building scale (TSLA), network economies (UBER), or intellectual property (biotechs). |
|
|
|
Another complication for speculative growth companies, you'll have to separate the wheat from the chaff. That is, figure out who is legitimately consuming capital to build a sustainable advantage (and these are the very best investments - they will be your 10+ baggers) versus the companies who are hopping on the bandwagon of a secular growth story to extract money from hopeful, greedy and gullible investors (the vast majority these days). This type of insight is difficult to attain without industry or domain-specific knowledge. |
|
|
|
With experience, you should be able to do at least a first pass of almost any publicly traded companies financials and investment story within 15 minutes. This is important because your time and energy are limited, so you want to get rid of the time-wasters early and focus your due diligence on the ones that are true opportunities. |
|
I think it's because institutions aren't perfect, these patterns are difficult to exploit at a large scale, no matter how long the time period. |
|
|
|
As far as time period, from my experience and observation, people are generally more successful swing trading\\ for whatever reason. I think that there is equal inefficiency on all time frames, just some are more difficult to exploit. |
|
Honestly thats some sound advice. I’ll take it |
|
180k loss in 12 minutes? Sounds like a risk management was the main problem not the market |
|
[deleted] |
|
[removed] |
|
Wow thanks for taking your time to write that friend. |
|
Average Retail Traders and Scalpers are orders of magnitude more imperfect/irrational/stupid than the army of PhDs and veteran traders at institutional level. |
|
|
|
Those people are successful because either they are those big players with decades of expertise, or the buy/sell-and-hold strategy is *for some reason* always better than timing the market, which obviously invites more opportunities to be wrong - even worse with transaction costs piling up. |
|
|
|
> I think that there is equal inefficiency on all time frames |
|
|
|
that would be equivalent to saying that returns are fractal in nature. As appealing as that idea is, it does not reproduce the stylised facts of finance. The tails of returns turn out to be fatter than observed. Actual market dynamics is more complicated than fractals, fortunately or unfortunately. |
|
Good luck out there! My day job keeps me too tied up to dabble too much w/short-term investments and meme stocks, so I gotta live vicariously through fellow Redditors. |
|
No actually greed and inexperience was the problem. |
|
[deleted] |
|
[removed] |
|
U had poor risk management BECAUSE of ur greed and inexperience. My point though is it wasn’t the market “turning on you” that caused you to blow up but rather a direct result of your own trading. Part of being a trader is knowing how to adapt to different market environments and knowing when to play defense and when to be more aggressive. Theres money to be made in all market conditions |
|
Fair. Thanks for the insight. |
|
The more months I trade, the more indicators I remove off of my charts. Its all nonsense. What do ya'll use?",99,https://www.reddit.com/r/Trading/comments/mpp2wn/the_more_months_i_trade_the_more_indicators_i/,"Price action. Volume. |
|
Order flow tools are more effective because they provide more data that can actually explain what is going on. The problem you still run into is that past data isn't very effective at predicting future movement. So retail traders still have a tendency to misuse the tools. |
|
|
|
There's different levels of data. Current data is always at the top. |
|
Well, if I may present a counter argument, if you can't look back in hindsight to validate the strategy (i.e. what you're proposing), you have no idea if it'll work or not. Moreover, you can't really define wether you're getting lucky or if the data is behaving as expected. |
|
Vwap and ma9 for small timeframes. |
|
Vwap, 200 100 50 Ma for the big picture. |
|
Best indicator for me is the correlations. Trading without them is like driving a car and never looking what happens on other lanes. |
|
My thing with indicators is that, it doesn’t really matter what any of them are saying, but if multiple are saying the same/similar things, it’s *probably* worth paying attention to. |
|
Excellent insight! That is exactly what happened to me as I noticed so many indicators that i THOUGHT were telling me something were actually already known by seeing patterns that the price itself makes. Now, I can see when to enter or exit at almost the exact right time and know the direction. Reading charts is an amazing thing once you discover what really works. |
|
All indicators use price and volume. There's nothing more powerful than understanding price and volume. plot a 9ema sure.. or a vwap.. sure.. but this spaghetti chart nonsense.. wild. I use a 9ema, support/res, candle formation, price action patterns, risk management, trade management. Those are the core items needed to trade. |
|
I just look at a few timeframes. I still have a couple of MA's on screen but I don't really pay attention to them. |
|
Bollinger bands, moving averages (200, 100, 50), MACD, price action patterns and candle formations, and most importantly, volume. |
|
|
|
In the end it's all a gamble, but I do believe I'm better able to time my entries and exits with an edge using a mix of these oscillators / indicators. |
|
I do use moving averages and resistance/support to find areas of value to enter the market. I wouldn’t really call those indicators though. I agree with you though, and something else to consider, indicators give false signals all the time. |
|
Vwap, ema9, ema20 |
|
Donchian channels, ATR, 50 and 200 EMA. Some hand drawn trend lines for support and resistance. |
|
VWAP, MACD, and MA. |
|
Probability. |
|
how is the BB (im assuming this refers to bollinger band) different from the rest of the indicators for u? |
|
Bollinger Bands x 2 - 1 Std Dev & 2 Std Dev. MACD. Historical Volatility. MA50. Parabolic SAR. Candlestick chart. And volume. |
|
-VWAP has been nice to me, just gotta find a stock that respects it if your gonna use it as your trading strategy. |
|
-EMA has been cool, it’s nice to see the average. I made the line barely visible so it’s not cluttering my screen. |
|
-RSI can be an effective confirmation for reversals, if you pair it with reading the level 2. |
|
-ATR is great for the morning break outs. |
|
|
|
And ofcourse... price action is the king of them all! |
|
Only price action without indicators that misleading this is an example of live trading [https://www.youtube.com/watch?v=E-ca0SrsMxk](https://www.youtube.com/watch?v=E-ca0SrsMxk) and [https://www.youtube.com/watch?v=KxfGM57OYi0](https://www.youtube.com/watch?v=KxfGM57OYi0) |
|
RSI and MACD plus volume. I think momentum is a valid quantity to work from |
|
three bar play is an example of price action such as this [https://www.youtube.com/watch?v=mDWILyvjiX4](https://www.youtube.com/watch?v=mDWILyvjiX4) remove all indicators on the chart, include just one moving average in the chart e.g. 21 EMA |
|
I’m waiting on the one that’ll draw out my support and resistance lines. I just use that, identifying patterns, and volume. Someone just told me about ATR for figuring out reasonable stops. A few ppl told me mine were too tight. |
|
volume profile, cluster chart with volume limits, bookmap for orderflow dance in entry moment and following position |
|
totally make sense. |
|
I just traded in the US pre-market via price action, +$500 see: [https://www.youtube.com/watch?v=eB-QA0CV-y4](https://www.youtube.com/watch?v=eB-QA0CV-y4) |
|
Old market indicators are less important now. So many factors when you have a wave of speculation and new non institutional money. I trade on gut instinct and tidbits of unannounced news. |
|
I use VWAP, Volume, Stochastic and 3-bar rule. Together, these have helped me be more accurate in deciding entry and exit points. You have to use what you understand and works for your trading strategy. |
|
Fast stochastic, slow stochastic, Bolinger bands. If I'm sniping just one stock. 1, 5, and 10 minute charts. And I'll check performance for a year. I can't wait until I break through 25k... Right now it's mostly swing trading and not being impatient. If it turns into a soft day, mow the lawn. |
|
Market profile volume profile VWAP these are facts that use market data to provide market context auction market theory as well |
|
I use |
|
|
|
Price action |
|
|
|
Indicators - Fractals / Pivot Points (Classic) & 50 EMA |
|
|
|
Market Structure |
|
|
|
Tools - Fibonacci Retracement |
|
VWAP is the only indicator I can even stand to see on the screen, and I still hide it often. |
|
I agree, but volume profiles are the only form of historical data that have any sort of credibility when predicting future movements in my opinion( ignoring news). This needs to be back tested of course but if the majority of the trading has happened at a given price level over the past 2 years then you can safely infer something from that to help determine your trades. |
|
I agree with you with that if you do it properly and use training data etc and build a model across a given time frame it’s very useful. My post was aimed at people using general charting software that do not go to those lengths and have that data science background, if you simply scroll left on TradingView, the layperson will always find a period within the chart that his strategy works but you would not know if it works if you were in the moment. Conformation bias is what ruins so many new traders. |
|
Barely anyone has decent backtest data on this subreddit. Every time someone keeps track of it the strategy falls apart. It’s way easier to look at a companies financials and come up with your own fair value. Then simply buy when it’s below that. |
|
any reason for 9 instead of 10 ma? |
|
Standard VWAP or anchored? I use 9EMA .. will back test with 9 SMA now |
|
what kind of correlations? |
|
Can you explain a bit more on correlations? I’m new to trading and I’m intrigued by your statement. |
|
Are you talking about arbitrage? |
|
Feel the same, I just used indicators in the beginning of my trading journey and now I'm just drawing my own lines. |
|
yep I completely agree. To add to this, I would suggest trading only one or two instruments for months on end so you get an intuition behind how they move given certain stimuli. |
|
Care to expand? do you mean finding a stocks expected value and trading accordingly, or hedging your investment so the probability of loss is limited etc |
|
It does. BB gives you the range that is two standard deviations from the price at the time. What I believe from personal experience is that the more a stock moves In a short period of time without a catalyst, the more likely it is to snap back to its preferred value. I again, need to prove this and backtest it, but in many areas of statistics for example normal distributions, the majority of the data usually lies within 2-3 standard deviations of the mean and market auction theory has this same principle. |
|
Care to expand on cluster chart with volume limits? I can’t seem to find it on tradingview |
|
What empirical evidence can you provide that makes you believe that? I've found some behaviors discussed in scholarly research that explains certain behaviors, but those things don't really give you direction. I've backtested lots of order flow strategies, but the best probabilities I've found given equal risk reward is 55%. That could just be random. Change the risk reward and you'll almost always come out to something break even. The market hunts such inefficiency and eliminates them. |
|
|
|
Which all points to the inescapable conclusion that past data isn't good at giving an edge in predicting future price movements. |
|
So call me insane, but I just use my own drawn trend and resistance lines with no instruments and the account is highly profitable. |
|
Maybe it could be more profitable, but dealing with indicators just felt like a waste of time for me. |
|
|
|
I'm open to anyone who wants to tell me otherwise, as I like to make more money any time. |
|
But in the last 3 years I have not felt like Indicators gave better signals than my own drawings. |
|
|
|
My personal belief is, the more experienced you are, the less an indicator is able to tell you what you don't already know. |
|
I agree, not just confirmation bias but pretty much all others as well. And the thing is, the more you rely on your own subjective impressions, the more biases have a direct impact on your own results. |
|
Good question simple answer. It's because of many traders look at Ma 9. Indicators getting magic the more people use the same indicator. Self-fullfilling phrophecy. I came to 9 because i saw many traders using it and it works for me. |
|
I use standard.. |
|
IF I trade sp500 I want to know what other major indecies are doing or VIX or DXY. These gives me clues to stay out of the trade or getting into one. |
|
I got the idea from a pro trader and now I think trading without them is silly. The idea is simple the markets don't operate in vacuum but many things affect each other and it's good to be aware what's happening on other markets as well. For example I day trade sp500. I have charts of nasdaq, dow, Russel2000, dax, ftse100, Nikkei, Vix, usdjpy, 2 year treasury bond, oil, and gold on my screens. |
|
For example I want to go long sp500 but I see nasdaq dropping. I stay out until nasdaq finds at least some support. |
|
Or Sp500 is trading against big overnight resistance same as dax. I see dax breaking the resistance and vix dropping. I go long sp500 since it's likely to break out as well. |
|
Markets don't always correlate, but when they do one can get good strong moves. |
|
Correlation in trading is used to limit risk when you either buy a security or construct a portfolio of stocks. So if stock A increases by 1.5x, then you can buy stock B which decreases at 1.5x to balance out your risk exposure and adjust based on the expected profit you want to make. I don’t believe he means as a specific strategy to enter and exit a trade. |
|
No. For example I trade sp500. If I plan to go long I make sure nasdaq and dow are not dropping. Nikkei and dax has also proven to be good indicators for the sentiment. If sp500 is selling and Nikkei and dax are holding, it often means the selling is short lived and I can start looking a level to go long. So whatever the market it's good idea to be aware what positively and negatively correlated markets are doing. |
|
It's interesting how each person can develop. Personally I also pay little attention to lines of any kind in trading. I can tell if there is a turn whether there is a trend line or not. And regarding looking at only one pair, one of the keys to me is to compare all correlated pairs. It gives the final breakthrough in clarity and probability. Looking at only one or two is also fine in terms of focus but for me I shift with times and currencies that move during those times. |
|
There's price-time probability, draw down probability, Event-related probability, and many others. Probability is everywhere. If you don't have an expert understanding of the chance of success, then all you are relying on is blind luck. |
|
i see. thanks for the reply :) |
|
it is not on the tradingview. available in professional terminals |
|
Oh no don’t get me wrong I completely agree with you, my understanding is purely anecdotal and what’s been working for me for the past 4-5 months. I want to back test whenI am able to. There is however some evidence to suggest that traders attuned to psychological signals do relatively well which is also what I I believe I have Improved at. I’ve traded the same stock for the past 5 months and can sort of understand how it’s going to react to economic events quite well now. |
|
|
|
https://www.nature.com/articles/srep32986?utm_medium=affiliate&utm_source=commission_junction&utm_campaign=3_nsn6445_deeplink_PID100024933&utm_content=deeplink |
|
Use volume at a given price level and it will change your trading. |
|
this sounds like interesting analytics I can include in my subreddit. What other major indices are you looking at? |
|
In that sense then yeah fair enough:) have you tested out the correlations to find the optimal pairs or do you trade based upon more intuition of the whole overall market and support /resistance? |
|
I do day trading and correlations are actually reasons for me getting into trade, getting out or staying out of the trade. For example I trade sp500. It looks bearish but dax shoots up I might go long instead. Or I'm long sp500 and nasdaq starts dropping or vix shoots up, I'm likely to come out or tighten the stop etc. |
|
Intermarket behaviour ist something I consider, too. |
|
Feel the same like you by just looking, but trend lines support my live trading or support my initial conclusion. |
|
Thats mind blowing. |
|
Thank you, I'll look more into that. |
|
I have these on my screens currently: Sp500, Nasdaq,Russel200, Dow, Dax,Ftse100,Nikkei, VIX,USDJPY, 2 year us treasury bond, gold, oil. |
|
|
|
it's matter of finding the balance that how much info can one absorb and it's still being efficient or does that extra info hinder the trading. |
|
I'm very intuitive trader - in good and bad. Thing about the correlations is that they are not always the same and the mood changes a bit almost daily. Some times Nasdaq is leading the whole trading session and draggin everyting else with it etc. but viewing these all long enough gives a sense what's happening. |
|
|
|
So I cannot say what's the absolute best correlatory pairs, but as long they ususally correlate can give extra info. Also when the correlation breaks can be valuable info as well. |
|
|
|
On top of this using normal support resistance levels and important daily levels, open, previous day close, overnight high and low. trading profitably can be definitely done. |
|
Nice! I understand and do appreciate trend lines and agree they can add to the probability. |
|
cool, thanks for the list, I'll save this. |
|
|
|
How are you keep tracking the correlation? Is there some kind of website or you do it yourself? |
|
There is websites that calculate correlations like in myfxbook.com and it can be helpful for setting the charts up. However for me when have my setup it's just reading the market info real time: Russel, and dow are below us open. Nasdaq seem bullish. Dax is not dropping and is in small range. Nikkei form me a bullish flag. As soon Dow stops dropping I look long for sp500.. This might not make much sense first but over time one learns to do that. |
|
Nice work Cuomo! Put the screws to Rob-n-steal and he had no answers. |
|
Oofff. This looks horrible for Robinsteal. |
|
Cuomo and the legislators in this specific instance have no idea of which side of their ass they are speaking. All the Robinfools who selected them for their low fees and requirements are now paying the piper for choosing the self clearing B/D. They had a capital call on their order flow equity line, as well as a reference from the SEC on accounts with suspicious profiles/activities. |
|
|
|
They approached their max line, and couldn't expand quickly enough to facilitate any margin calls or flow payments. |
|
|
|
DTCC issued them a capital call overnight, and hence their raising of funds from investors, and the subsequent release of trading restrictions on certain securities. |
|
>Not Cuomo. |
|
|
|
Yes Cuomo... he's doing the same exact thing. He didn't address what Vlad said, just brought up something else every time. Sounds like every other person making wild claims, just more confident. |
|
|
|
>mythical ""regulatory requirements"" he was trying to fulfill. |
|
|
|
These requirements aren't mythical they are just aren't something you can explain in a 5 min news spot. You want him to stop and walk through how a clearing house works? He literally just said, they need to comply with regulations. He cannot possibly list out every regulation that came into play here. That's not even his job, its the clearing house. They know the regulations better than anyone here. If they call up saying they need to do X or Y, they need to do X or Y. If you guys feel this regulation is mythical then call up DTC and tell them you're going to sue them or something. |
|
|
|
This whole situation is going to separate those who know how trading works on a fundamental level and those who don't. |
|
|
|
Just wait, in a few days everyone will say they always knew about the DTC |
|
|
|
All I see are people completely outside their domain making incredible claims they have no way of backing up. The hysteria has gotten out of control. |
|
|
|
Here's more if you actually want to know. |
|
|
|
https://www.reddit.com/r/algotrading/comments/l74njo/any_thoughts_on_why_alpaca_is_also_jumping_on_the/gl4u8nv/ |
|
|
|
https://news.ycombinator.com/item?id=25951475 |
|
I've been a Robinhood user for a while and with the recent news that has just come out about the CEO, I'm looking to move away from them. Does anyone have suggestions on a better trading app to use? Thanks in advance for any help or advice. |
|
Had some more time to go through this: |
|
|
|
*1:25* |
|
|
|
Cuomo: Why did you do it, if it wasn't to help hedge funds? |
|
|
|
Vlad: The idea that it was done for market makers is a rumor and false. |
|
|
|
*direct quote* |
|
|
|
>Robinhood, as a brokerage has lots of financial requirements, SEC requirements, **we have to put up money at clearing houses, the amount of money we have to put up depends on market volatility**, we're in historic situations where there's a lot of activity and a lot of buying, concentrated in a relatively small number of symbols that are going viral on social media. |
|
|
|
The rest is kinda PR talk, sure, be pissed at that, can't blame you. Its basically saying though that ""we ran out of money"" - because *as traders* we all know how trading works, right? The involvement of clearing houses, margin accounts and DTC? ... right? |
|
|
|
If I would have expected anyone to understand its the trading subs. I'm no corporate shill and you can see me shitting on big tech in previous comments. However, I really just can't sit by while such blatant misinformation floats around in my field. |
|
|
|
*2:50* |
|
|
|
Cuomo basically ignores everything Vlad said and zeros in as soon as he mentions RHs customers, because that's literally all he's there to do. He doesn't want the answer, he wants to get sound bytes grilling the CEO. |
|
|
|
*3:00* |
|
|
|
Cuomo: Just one thing without getting in the weeds here |
|
|
|
lol alright, so yea, literally telling Vlad don't get too detailed"" - he doesn't want answers. |
|
|
|
Then he goes on his planned point of NYSE shuts stocks down, not you even though Vlad explained already that they did it because of other regulations and basically not having the collateral. |
|
|
|
*3:50* |
|
|
|
Cuomo: Why did you do this? |
|
|
|
Vlad: We have to comply with financial requirements- |
|
|
|
Cuomo: cuts him off, says SEC didn't say they had to shut down trading. |
|
|
|
Vlad: Explains that RH and literally every broker had to do this because of regulation (should keep a counter of how many times it has to be said at this point). |
|
|
|
*4:45* |
|
|
|
Cuomo: Cuts Vlad off *again*, asks yet another question, ""why are people allowed to sell but not buy, that sounds like it only helps hedge funds"" |
|
|
|
Vlad: Explains yet again that it has nothing to do with market makers or any other connections, rather depository requirements. |
|
|
|
When you actually watch, Cuomo does nothing but get sound bytes. He doesn't actually address anything Vlad said. You can tell so easily he just had a script and was going to say it no matter what Vlad said because everything Cuomo says is independent of Vlad's responses. |
|
|
|
If people are serious about knowing what is actually happening, they can read stuff like: |
|
|
|
https://news.ycombinator.com/item?id=25951475 |
|
|
|
https://www.reddit.com/r/algotrading/comments/l74njo/any_thoughts_on_why_alpaca_is_also_jumping_on_the/gl4u8nv/ |
|
|
|
Really can't believe even the trading subs seem to want to flaunt their ignorance of the issue. The closer you get to discussing with people actually in the industry, the more nuance, reason and detail you come across. Not some news anchor grilling a CEO for views. I'm sorry but this is akin to watching congress grill Zuckerburg asking how Facebook works when half the people upvoting don't even know what the DTC is or why this is happening. |
|
|
|
Look, I don't blame people for the initial distrust, confusion and anger... however continuing to push conspiracies and misinformation (like Citadel owns RH???) based off vague tweets and ""I work at RH and got a call from the president"" is just not a good look, especially for a trading sub. |
|
Lock this little weasel up. |
|
#CancelRobinhood |
|
Just waiting for my cash to settle in Robinhood and never using that backstabbing sonofabitch platform again. I don’t care how easy they made trading! I’ll never be back! Never! |
|
RobingHood Robed all of us to benefit themselves and their big guys. Everyone on their platform should walk off and find a reputable broker!!! |
|
whats a better app ? cause robinhood doesnt let me buy more than 1 stock on amc smh |
|
please come and join us for one on one discussion about trading |
|
|
|
https://t.me/joinchat/Hgwi7rloE1-dnYUt |
|
vlad is almost certainly telling the truth though... probably the dtcc requirements, right? |
|
exactly. |
|
|
|
This is going to separate those who actually know how trading works (or at least willing to learn) and those who don't. |
|
|
|
I cannot even imagine now how many times I've seen shit on the news not in my field and have to question if they fuck up as much as they do with finance. |
|
First of all, thank you for taking the time to respond and sharing some details, I do want to learn. |
|
|
|
I admit I was wrong to call the requirements ""mythical"". Still, and perhaps I'm missing some other detail, restricting one side of their clients' specific trades appears, at best, like very a crude and naive solution to brokers' money problems. |
|
|
|
Why would they not instead slow down the entire operation while they're looking for extra capital? Like rate-limit all trades on all securities on both sides? They don't guarantee executing any trades so I can't imagine that would cause as much ire from the public and as much losses to their customers as what they did implement. |
|
|
|
They manipulated the market, whether that was the original intent or not. Given that they used the most literal solution to their capital problem and that that solution benefited very well-known parties... It's just hard not to maintain suspicion. |
|
It seemed like RH CEO didn’t wanna say specifically the problem (cash shortage for collateral for the clearing house) because he didn’t wanna harm his business going forward by making people think RH won’t be able to tolerate such volumes in the future, which will scare people away to other bigger and better Capitalized brokers. But seems like whatever he is choosing to say is affecting RH negatively today and will affect it in the future. |
|
I asked proptrader a question at the bottom of your first link, you are most welcome to answer it, if interested. Be ez |
|
Anything is better than Robinhood and that was true before the recent news. Hard to recommend any one in particular as they all have pros/cons. Depends on what/how you are trading. |
|
>Does anyone have suggestions on a better trading app to use? |
|
|
|
They literally all shut down trading on GME because they all had the same issue. This isn't an issue exclusive to RH. |
|
Maybe TradeZero? |
|
Very fair points on the fact that the problem was real for them, I understand it was wrong to put the onus on that now. But the solution they and other brokers chose to implement just strikes me as unconscionable in the absence of other, undisclosed factors. |
|
|
|
Implementing software restrictions on a specific side of a specific, hypervolatile trade... Did they not understand it would blow up? If they did, was there another motivation to pick that specific approach? If there isn't an alternative, just slow down the entire operation, all markets, all sides, at least you won't be accused of manipulating prices. |
|
Depends on the approach. If it's outrage news you can basically guarantee it's wrong. |
|
>First of all, thank you for taking the time to respond and sharing some details, I do want to learn. |
|
|
|
Sorry to say I was probably a bit harsh. It's just insane the amount of misinformation I've seen and its like nobody feels like checking it. |
|
|
|
>I admit I was wrong to call the requirements ""mythical"". Still, and perhaps I'm missing some other detail, restricting one side of their clients' specific trades appears, at best, like very a crude and naive solution to brokers' money problems. |
|
|
|
I would completely agree with you if RH allowed for short selling. Closing an order isn't the same as opening. Just to be *very* simple, RH is like a casino with chips, you have a stack of money and they will let you just play with the chips as long as they see your stack of money. Its never your money being used, always the chips. This is a layer of abstraction most people don't realize, for lack of a better word, all your trading is simulated but to get back to it... Lets pretend GME is the only table available. Its fine to take your chip off the table, but if RH is out of chips, they're out of chips. ""selling"" in this sense is just taking your chip back. RH basically got a call from *their* chip provider saying ""this table is too volatile and crazy, you need to back up any chips on this table with more cash"" and RH simply didn't have the cash. All the fancy PR talk just comes down to we didn't have the money to support the customers"" - as bad as it sounds, I prob would have made the same call because this thing they pulled will prob be better for them than saying ""yea we're out of money which could have been *really* bad... as demonstrated, people wouldn't get the nuance that they're not out of money entirely, just they need more to back up trading on certain symbols. |
|
|
|
That's prob not the best explanation, as I'm just bad at thinking of analogies off the top of my head.. but that's the gist of it! |
|
|
|
>Why would they not instead slow down the entire operation while they're looking for extra capital? Like rate-limit all trades on all securities on both sides? |
|
|
|
Not sure if this is possible for RH to do. |
|
|
|
>They manipulated the market, whether that was the original intent or not. Given that they used the most literal solution to their capital problem and that that solution benefited very well-known parties... It's just hard not to maintain suspicion. |
|
|
|
I just can't see it that way considering this is the only logical outcome of the situation. I would argue, maybe as customers one should *know* how much collateral RH has on hand for any given stock so one would know when the DTC might make a call... but I would wager that would have been ignored by everyone anyways. |
|
|
|
And even then, I hate to say it but who is they ? Every single broker on wallstreet? RH wasn't the only broker that suspended trading. Even considering the links to Citadel, other brokers aren't involved with them, yet still suspended trading. What would they have to gain from that? |
|
That is exactly it. |
|
|
|
We can all sit here and say he should tell the truth but I'm guessing 99% of us would do the same exact thing if we were the CEO of RH. |
|
|
|
Doing this is *probably* better than alluding to money problems. |
|
|
|
Ofc its still wrong to lie or try to obfuscate truth, that should be called out when it happens. He's just talking in a very PR friendly way... but the truth is there. |
|
I doubt any broker could handle the volume unless they made it so your balance didn't change until 2 days after a trade to reflect the actual reconciliation of the cash involved. So instead, they abstract people's available funds because no one would use the first broker. |
|
From what I hear on here, Fidelity did not. TD restricted options and margin, but you could still buy shares. |
|
>But the solution they and other brokers chose to implement just strikes me as unconscionable in the absence of other, undisclosed factors. |
|
|
|
I get what you're saying... its just this is a ""financial crisis"" of sorts. There was no way for them to ""fix"" this, otherwise they would cause I'm sure as hell they would have loved to say look we're the only brokers that didn't shit the bed on GME! but the problem was just beyond their control. |
|
|
|
>Implementing software restrictions on a specific side of a specific, hypervolatile trade... Did they not understand it would blow up? If they did, was there another motivation to pick that specific approach? If there isn't an alternative, just slow down the entire operation, all markets, all sides, at least you won't be accused of manipulating prices. |
|
|
|
I sincerely believe they didn't do it to fuck their customers at the expense of Citadel. That's just *really* brazen. |
|
|
|
They would be in *actual* trouble with the SEC for doing that. As it stands, I don't think they're even in trouble. SEC is well aware of the regulations that caused this. They would probably have been wiped off the earth by the SEC if they didn't let people close, intentionally. |
|
Yeah, it makes sense that Tenev wasn't fully direct on being in a capital crunch, I understand he has to balance transparency with triggering liquidity concerns. |
|
|
|
I'm curious, why do you think rate-limiting all trades wouldn't be an option? Honest question from an outsider. I don't think a broker like RH would ever guarantee any trade completion to begin with so what would be a problem with temporarily rising the number of trades that don't complete across the board? |
|
No doubt RH has models describing how much cash it needs to have on hand and how much it can allow to be flowing in and out as trades are made. I understand that when you make a trade it takes two days to settle, but RH and other brokers front you the cash right away. They can do that so long as, in general, a lot of money is generally moving around. |
|
|
|
However, i bet the model breaks if half their users, on about the same day, all try to sell their stocks and then buy another. They simply won't have the cash on hand for 2 days. And there's no way they want to admit or describe that. |
|
But given the hate and battle between Robinhooders toward hedge funds, I feel like it would’ve been better to say they got short on cash, because now it looks like they are doing short sellers a favor. More people would be understanding of cash issues, but everyone wants to burn RH down now because they think they are doing this for the HF. And most people on RH don’t know how trading works, so u got an angry, “technicality” uneducated mob who are leaving robinhood for good. I had some crypto in a RH account, I closed and left because I didn’t wanna take further risk of being unable to add or reduce in the future. Today they restricted dogecoin, which seems now they are targeting anything with high volume. You won’t be able to make money with them in such fast environments. |
|
>I'm curious, why do you think rate-limiting all trades wouldn't be an option? |
|
|
|
I'm guessing there's a good reason. I can give opinion but this stuff is so complicated you would have to talk to someone in the know on regulations (which is like a handful of people cause its so boring lol). |
|
|
|
My best guess is that unless its coming from the NYSE, limiting trading is something that would actually get them in trouble. It would be super unfair to their customers vs other customers. Say GME dropped (which it could have, easily) and some poor dude had some $100k in there, he could lose $50k just because he couldn't get his orders through due to limitations. Closing an order is ""fine"" as its getting out of risk. Essentially forcing your customer to play the lottery to get rid of their risk is 100x worse than just letting them close, imo. |
|
|
|
>I don't think a broker like RH would ever guarantee any trade completion to begin with so what would be a problem with temporarily rising the number of trades that don't complete across the board? |
|
|
|
ahhh, hmm with this I'd say it was more an issue with DTC saying they needed to match the collateral. To the best of my knowledge, the DTC prob would reject such a plan. Easiest and probably only solution for RH was to turn it off, vs jerry-rig a solution. I don't really know *that* much about DTC and regs, so I won't pretend to. I just know the layout of the system to the point where their explanation makes more sense than theories they did it to benefit citadel. |
|
|
|
and just wanna say, great to see a respectful discussion on this! hoping someone that knows more than me could maybe answer. When I say its a *few* people I really mean its very few people that really know all the parts of the machine. Sadly, I don't think they'll take time out of their busy day to visit reddit and explain to us :/ If anything, I think that's a problem highlighted by this whole mess. |
|
>However, i bet the model breaks if half their users, on about the same day, all try to sell their stocks and then buy another. They simply won't have the cash on hand for 2 days. And there's no way they want to admit or describe that. |
|
|
|
I'd say this is true. |
|
|
|
It just keeps coming down to the fact that they pretty much just ran out of money. They could have always asked for more or prepared more but I think its telling when *all* the brokers had the same issue. |
|
|
|
All except those not really being used to trade meme stocks lol |
|
>More people would be understanding of cash issues |
|
|
|
I tend to believe this too... but we're talking from the timeline that didn't experience this lol. Bank runs wouldn't happen if everyone were perfectly rational thinkers. I could see a lot of people taking their money out of RH thinking it was ""going down"" or something. |
|
|
|
They wouldn't understand its just for one stock. |
|
|
|
That's just imo tho, we really can't say what would or wouldn't happen ig. |
|
|
|
>And most people on RH don’t know how trading works, so u got an angry, “technicality” uneducated mob who are leaving robinhood for good. I had some crypto in a RH account, I closed and left because I didn’t wanna take further risk of being unable to add or reduce in the future. Today they restricted dogecoin, which seems now they are targeting anything with high volume. You won’t be able to make money with them in such fast environments. |
|
|
|
This is fair. Just saying its not exclusive to RH and this could and will happen with any broker. Just hits RH hardest since they're the most popular. |
|
I certainly appreciate a civil discussion on this as well, especially with someone more knowledgeable than me and especially after the perhaps too strongly emotional kick off on my end. I remain skeptical though I certainly have more food for thought. I trust that SEC will do their job in case any of the allegations are true, as you alluded to in another message. Even if none of the allegations are real, it seems there might be some regulatory gaps to fill. |
|
Yeah. I can't even really be mad at them for it. We are seeing all the standard models broken here and lrts will be scambling to adapt. |
|
Yep... I would say its just not feasible to sit on mountains of cash for ""once a decade"" events. |
|
|
|
Especially when the hype dies down pretty much the next day."
|
|
I coded a bot that buys Bitcoin when Elon Musk tweets about bitcoin,90,https://www.reddit.com/r/Trading/comments/ma0bll/i_coded_a_bot_that_buys_bitcoin_when_elon_musk/,"Haha not bad 😂 |
|
What if he has a negative tweet on Bitcoin? |
|
[deleted] |
|
Great idea, haha! I looked through your code, it's a good starting point for programming a cryptobot with MT5. |
|
Great effort has been made on this. I hate when people don't show any encouragement. |
|
|
|
Keep the good work up and best of luck bro. |
|
|
|
You deserve an award! Here we go! |
|
|
|
Thumbs up! |
|
|
|
Cheers |
|
Never say never |
|
thanks |
|
The bot could use a sentiment analysis of the tweet that's true! |
|
Elon would never do that |
|
Nice |
|
Thanks, glad you liked it! |
|
Cheers, appreciate it! |
|
haha |
|
But what if he tweets that he will sell some bitcoins will u automatically buy then too ? Hahah |
|
Never say never |
|
Oh no... |
|
[removed] |
|
yeah it doesn't take into account the sentiment for now so that wouldn't be good haha |
|
Yeah aged like milk |
|
[deleted] |
|
Nice |
|
Nice |
|
Nice |
|
Nice |
|
nicE |
|
NiCe |
|
Even as an experienced trader it's always nice to read over these from time to time. 👍 |
|
I’m not looking to be a full time trader, but here’s my two cents. |
|
|
|
I’m 34 with a wife and two kids. I work very hard to support my family. I’m not the smartest person, but I sure work harder than most. What do I mean by that? I’m consistently the first in and last out, I’m always on call, and I work on my vacations. This is netted me a modest 3-5% premium compared to my peers who have mostly been 9-5ers. |
|
|
|
What did it cost? Time and memories. The look of disappointment in my daughter’s eyes when she asks if I can play with her, but I’m in the middle of an after hours meeting or just too stressed or exhausted to continue the day. |
|
|
|
I started trading this year for the reason that I can’t provide the quality of life I want to give my wife and children. Working a “normal” job is not worth what it used to be. I’ll be a slave to the system, because I didn’t take it seriously that there was an alternative. I was never taught this way of life. My children will, and hopefully they will tell a different story than mine. |
|
Profitable trader here giving my nod of approval on this information. Everything mentioned here is 100% accurate and confirms the OP knows what they are doing. |
|
|
|
Wish I had this help back when I first started. Had to sort through all the nonsense out there and find my own way. Took a long time, but I learned a lot about trading and myself along the way. Thanks for putting all of this together. |
|
|
|
If you are a new trader, and stumbled across this post, do not ignore the value presented here. It could save you from blowing up your account. |
|
From you more experienced blokes out there. |
|
|
|
Roughly how long did it take before you were profitable? |
|
|
|
I've just started on the path. Banged out a few courses, set up a jornal, trading view, exchanges and am just dipping my toes in now. |
|
You forgot about the part of be ready to lose money |
|
Dss is on the move 🚀🚀🚀🌕 |
|
Nobody knows the future. Good luck |
|
Thanks for the great intro to trading. Being a noob, I really appreciate this. My cuz took 6 months of losses (~ $67k USD at todays forex rates, this was about 7-8 years ago) to stabilise and start making money. But he is a pretty determined kind of chap and stuck to it. Of course he had financial resources to back him up. I dont have that level of fin resources. So it was scary for me. But I have picked up hope and courage from this post - i can start small. Thanks again. |
|
Much appreciated - visit r/RealDayTrading when you get a chance. I’m sure your insight would be valuable there. |
|
Here's a sneak peek of /r/RealDayTrading using the [top posts](https://np.reddit.com/r/RealDayTrading/top/?sort=top&t=all) of all time! |
|
|
|
\#1: [$30K Challenge - Complete!](https://np.reddit.com/r/RealDayTrading/comments/pcx5aj/30k_challenge_complete/) |
|
\#2: [Your 10-Step Guide on Getting Started](https://np.reddit.com/r/RealDayTrading/comments/pi1idv/your_10step_guide_on_getting_started/) |
|
\#3: [A Simple Strategy](https://np.reddit.com/r/RealDayTrading/comments/origab/a_simple_strategy/) |
|
|
|
---- |
|
^^I'm ^^a ^^bot, ^^beep ^^boop ^^| ^^Downvote ^^to ^^remove ^^| [^^Contact ^^me](https://www.reddit.com/message/compose/?to=sneakpeekbot) ^^| [^^Info](https://np.reddit.com/r/sneakpeekbot/) ^^| [^^Opt-out](https://np.reddit.com/r/sneakpeekbot/comments/o8wk1r/blacklist_ix/) |
|
Good for him. More athletes need to be good role models for kids health. There is a serious sugar intake issue |
|
look at his expression. cheeky lad |
|
So....... stock manipulation or people are really way more stupid than we immagine? |
|
WTF never thought I would experience sudden sympathy for that guy. |
|
|
|
I usually don't do for any rich soccer player. |
|
Same vibes as Floyd Mayweather the other week. If they aint paid they gotta go. |
|
Good time to buy? |
|
To a lesser extent PEP - Pepsi has seen a similar decline. Same chart pattern, less drastic. |
|
If you really think the stock went down because he took removed the bottle, i guess you have a hard time trading. |
|
Are we talking about yesterday? When was this? What time? |
|
|
|
As far as I can tell on KO, the only dips and drops I found are the ones that the entire market endured. Am I missing something other than a small YouTube clip with a clickbait headline written by people who probably don’t understand how the stock market works? |
|
This is why trading has changed so much in the age of social media. This move gets so much attention that the company takes an enormous hit. For all who complain about the meme stocks and the acts of certain subs, this is why they garner attention and why they have been fairly successful at modifying this game. |
|
Love it |
|
He’s short KO. Needed it given the bath he’s taking on his trump tower condo. Bought for 18mm can’t sell for 7mm. He’s not losing sleep. |
|
That's awesome. Here to you Warren Buffett. |
|
It’s fake news |
|
Good fuck coca cola. |
|
Fuck you |
|
Wea damn I’d like to have the power to do the same in the near future ! Way to go Ronaldo |
|
Wea damn I’d like to have the power to do the same in the near future ! Way to go Ronaldo |
|
You know correlation isn't the same thing as causation, right? All these media are posting bullshit. $KO went ex-dividend that day, so the drop was supposed to happen. Also, the entire market (e.g. $SPY, $DIA) was down that day. And better yet, $KO dropped that much even before the mentioned press conference took place. |
|
Maybe he feels ""too white"" so he can't drink it 🤷🏼♀️🤣 |
|
Google Ronaldo kfc advert lol |
|
“Why lie? I’m not going to be a hypocrite and say the opposite of what I think, like some others do.” Cristiano Ronaldo |
|
In the short term, yes.... |
|
Bet the farm!!! |
|
Celebrities and their actions and stock market...BIG MONEY |
|
You are totally right. Just so dumb to give that to that single act , so all investors were just looking that at that time and think ok I going to sell that stock because this guy is going to throw the KO broke 🤦🏽♂️ |
|
Watch how the graph moved and time it to when he made his comment. Seems like a to big of a coincidence. |
|
I highly doubt that people who own a shitload of KO are watching press conferences in football and buy and sale based on what a football player has to say. Just because it might be a coincidence it’s no reason to write this kind of title. |
|
If anything, it’s people like the ones in here who think that inherently changes a stock’s value. It’s a hiccup that the institutions love. |
|
Technical Analysis Series (3): Move it, Move it, Moving AveragesGreat material but the images are almost unreadable on mobile. |
|
Great stuff thank you |
|
Thank you for putting this together. |
|
|
|
Can you give an example of when you might change EMA to suit market conditions? |
|
|
|
And do you have any thoughts on using Fibonacci numbers for EMA intervals? |
|
Really good stuff. I give you great props and respect for writing up something that many would think is so obvious that you don't need to tell people this stuff. I like running such things in a different expertise. I find it really useful. And I think what you're doing is terrific. |
|
Thanks for taking the time to put this together and share. I’m going to host a “trading basics” call with my immediate family members and will use your post :) |
|
Great material. |
|
Good work. One question. What's your opinion trading based off time? |
|
[deleted] |
|
It is extremely situational for when to adjust the periods of the moving averages. A good way to begin assessing is to run both sets of numbers and see which appear to be catching price action better on some of the preferred time frames for the trading style being implemented. 21, 55, 89 and 377 are all fibonacci numbers, so the thoughts are positive. |
|
Ty! I'm glad you enjoyed. |
|
I don't exactly know what you mean by ""trading based off time."" I have seen some guys that use some version of fibonacci on the time scale to say the move will happen by ""x"". I don't use those types of tools and time analysis in that way has not been reliable for me personally. Sometimes an asset will get in a place where I can say fairly confidently the move needs to happen in next day or two or else it will fall apart because of positioning of momentum oscillators. I can pick price targets fairly easily, but I have not found a great set of tools for picking the time at which price will hit that target. |
|
Thanks for the positive feedback. Yes there will be more posts coming. I'm trying to do 1-2 a week. Yes, these technical analysis tools work on pretty much all assets - forex, crypto, stocks, etc. |
|
thanks again! |
|
Thanks for your input |
|
You need to make Videos! |
|
It's in the works! |
|
Been trading for about 5 years and wish I had someone break it down in such readable formats when I stated. |
|
How would you suggest a complete noob who does all the above actually learn to trade properly? |
|
One of the most common bad habits that can lead to disaster is holding onto a money-losing trade once it moves well beyond your stop-loss level in the hopes that it will turn around—and then seeing it turn around and generate a profit. The profit itself reinforces the bad habit. |
|
But it's even worse if you congratulate yourself for holding on until the trade turns around. Coming out with a profit on a trade like this is almost always a result of luck. And luck always runs out, usually with disastrous results if stop-loss levels are ignored. |
|
Bad trading habits also involve not putting STOP LOSS or not having realistic expectations. |
|
No matter the bad habits or mistakes, JOURNAL EVERY TRADE. Then scan over it from time to time. Doing so keeps you from paying for same ""lessons learned"" more than necessary. |
|
That's good advise, and many of those points apply to my trading history. |
|
|
|
I don't consider myself a trader, although I do trade like once or twice a week (with a small profit). What I can recommend is having a trade journal and planning trades. Do not enter trades unplanned (e.g. as you wrote because you read something and then get emotional about it and just want to step in). Analyze your stock/index, define a signal and then wait for it. Only if the signal is confirmed, enter the trade, and make sure you have two exit scenarios: A stop loss and when to take profits. |
|
|
|
I also found that I am good in giving advise but I am bad in following it myself. Jeez, I need more discipline. |
|
Yeah the biggest thing imo is being able to identify your own mistakes . |
|
|
|
To realize what you did wrong , so you know what to avoid doing next time & you don't make that same mistake |
|
|
|
|
|
My biggest fuck ups are from my greed and impatience. |
|
|
|
|
|
I can honestly say that over time, through trial and error, I've actually grown to become a pretty decent day trader . |
|
|
|
I still don't meet the Day Trader 25k in Capital requirement , so I'm restricted to only 3 day trades a week and the rest are pretty much overnight swing plays . |
|
|
|
But every day trade I've done for the past few weeks/months , I've averaged $500+ in profit per trade . Just really sat down and re-evaluated my strategy. |
|
|
|
|
|
The issue I have , is ALWAYS after my day trade is done. |
|
|
|
I get my profits, I'm done for the day (I try to do a day trade once a day/every other day, otherwise doing 2 in one day kind of leaves the rest of the week to be a bit slow due to the 3 trades per 5 days limit ) , but then my greed kicks in and all I can think about is man I can't wait until I hit my goal and have unlimited trades"" , so I have an annoying and honestly foolish habit of buying into ANOTHER stock near the end of day , with the hopes of selling it the next morning for a nice extra profit. |
|
|
|
|
|
Well, it never works that way lol. I always end up buying in , only to have the price start to dwindle downwards as the day ends. And then it Tanks in After Hours trading lol. |
|
|
|
|
|
And because of the PDT rule , I am forceddd to watch my money go down the drain because I can't sell my position otherwise I'd get a violation for going over my 3 trades. |
|
|
|
|
|
It's entirely on me. |
|
But at least I can identify that! |
|
And looking at it from a positive perspective , it's not a bad problem to have. I think I trade well |
|
|
|
Just need to practice self control and not impulse buy into another position after already getting my profits for the day |
|
Not having diamond hands. |
|
Ty for this |
|
For me biggest bad trading habit is selling my core position so I can average down and sometimes my entire position, most of the time it runs and I curse at my self for days. It's very stupid when I take moment and reflect on it. Most of my decisions don't make any sense later on! Ordered some Cbd oil, that should help out lol |
|
Thank you Hari, you are a life saver. I always want to learn Option and the Greeks but your posts are easy to read and noob friendly. |
|
I got a question, I saw that you mentioned Call Debit & Call Credit a lot of time in several posts, so I assume you prefer trading bullish stocks. Do you also trade Put Debit & Put Credit Spreads for bearish stocks? |
|
I just exposed myself as an average trader with much more to learn |
|
Not holding on longer... |
|
|
|
8 times out of ten, if I would have held longer, I would've experienced gains when I notice early losses on a trade strategy. |
|
Tracking your trades consistently makes a huge difference. I use an awesome dashboard that allows me to see my performance very easily & all in one place. I have been able to gain an edge just by having the right tools to begin with! |
|
Thank you for this. |
|
How is day trading not momentum trading? |
|
|
|
Most of the time you go for quick moving stocks and get in and out quickly. |
|
Go to r/RealDayTrading for one - check out the wiki there. Also - try this post: |
|
|
|
https://www.reddit.com/r/RealDayTrading/comments/pi1idv/your\_10step\_guide\_on\_getting\_started/?utm\_source=share&utm\_medium=web2x&context=3 |
|
Best way to learn is to learn from your mistakes. |
|
Re-evaluate what went right , what went wrong , and continue to do so as you keep practicing and learning what strategy works best for you |
|
Call Debit & Put Credit = Bullish |
|
|
|
Call Credit & Put Debt = Bearish |
|
|
|
Depending on the trade a Call Credit or Put Credit can be neutral. |
|
Yeah, exactly. |
|
Thanks! |
|
So basically only go long? This will work amazingly in a bear market |
|
Solid guidance. What about pre market trading to catch the early buzz and rise? |
|
Thank you! |
|
I feel like this focuses way to much on technical analysis (which is by no means infallible) and ignors basic fundamentals, like learning about the stock you are going to trade. |
|
Take a look at ACDX, they have an interesting way of trading with structured products. The first exchange offering that. They launched $BBS and now you can dive $BBS or moon $BBS on BTC, ETH, BNB, FTF.... and win prizes. Also, you can set KO levels if the market turns against you |
|
Sarcasm rules! Ok Ok yeah it’s a tad too technical. IMO. As an active trader (for a living now). Sure I use various indicators but there’s also a lot of economics missing here. You can trade off charts and loose your ass. Sure the stop loss helps. But IMO too tight. You said it yourself “volatile” which means learning to ride the ups and then the downs. Too complicated to explain it here. But overall I do dig your post. But it’s more in the intermediate range. Not many newbies will know and have the setup to check fast enough. Good example I’ve already hit my quota I started watching pre-market. Lastly, it’s His will.. (apologies if the last line relating to religion offends). |
|
rules are easy to make, and hard to follow - |
|
Hmmm..playing for long is the key I guess. |
|
I’ve been day trading a year making steady profits my friends talked me into taking long positions.....I listened.....conceded most of my earnings! |
|
[deleted] |
|
OK bud |
|
Although I am not sure if I agree with everything in that text, I find it good to read. I can relate to a couple of things mentioned, especially this part here: |
|
|
|
> Every time you come upon a new indicator you’ll be ecstatic that this is the one that will make all the difference. |
|
i am tossing between stage 1 & 2 . I have been trading a year. this is beautifully written & gave me the encouragement that I can lip to higher stages if I keep on working on my trades & stay! |
|
I feel like I just entered stage 4.5 |
|
Any profitable traders out there (indices)? |
|
Been going through so much stress lately with my trading. Would appreciate someone to talk to- to be like somewhat a partner i guess. I have no one around me to talk about this stuff with because i am pretty much the black sheep, and i think as a result, its negatively affecting my mental health. I have no problem making money from trading. The problem is consistency. But i feel like its harder to stay consistent when you are the only person around you doing what you are doing with no one beside you to push you and make you feel better. |
|
|
|
Been trading for about 1 1/2 years now. Im 20 years old. I trade the SPX500. Made some profit but overall in a ‘breakeven phase.’ Would appreciate anyone (or multiple people) to talk to. Male or female .doesn’t matter. |
|
|
|
Just need someone to talk to in general. I have no friends. No one to vent to. No one to help me persevere. Not the most social guy out here but i guess its time for some change. This is lowkey a cry for help. |
|
|
|
I see a prosperous future in my trading journey but sometimes i can feel like my bridges are being burned down. For the most part i can handle being alone but at the end of the day we are all human and we cant survive without some type of social interactions, regardless of how social or antisocial we are. We all need someone to talk to during times like this. |
|
|
|
So once i again i would appreciate a response to this post. Anyone is welcome. Thx. |
|
I got my ass kicked the last 2 days, but my short legs stopped my hemroid from bursting!! |
|
I have been coached by the #marketrebellion team for the last 3 years - mostly @RyanMastro, @AJ Monte, @BillJohnson and @StuDorfman. My main strategy is doing the dance with the market. The wider the stance (distance between strike prices) the greater the chance of making money when doing the dance. I like this strategy because it makes $$$ 80% of the time. So, I like legging my way into Iron Condors with a put or call (put if near a top and call if near a bottom). Diagonal Calendar Spread with (currently 2024) Leaps. The leap is always 2-3 strike prices ITM and the short side benefits from Theta (time decay) and is usually 35-70 days from expiration. |
|
THE GOAL: |
|
Roll your short side (up or down depending on the technical signs) for a 5-15% credit each month. Paying down the leap and hopefully paying it off prior to expiration. Sometimes exercise with all profit. All unforeseen circumstances are possible. All decisions are based off my trading check list and I try to never bet more than1-5% of my option portfolio. |
|
Ho Lee fuk. You just perfectly described my journey. I, just yesterday, deleted myself from the last trading group I was clinging to. I'm almost exactly 3 years in, and very much a stage 4 trader. Thanks for the post. |
|
You guys are great! Its really great to hear your stories with trading. |
|
|
|
This article touches me big time. I have been trading for 4 years in my country's market until I switched to U.S' in 2020. Even tho its been 6 years so far but still I believe am in stage 2. I love trading I love learning everyday but losing is hitting me again and again but am still surviving. |
|
|
|
Giving up thoughts coming to my head every night. I've been asking myself what I am actually doing wrong and no joke I still do not know the answer. My account is losing money and myself is losing time but seriously I don't care about the money as much as the time. Thats why I sleep less read more watch webinares often to learn to find that missing piece that would take me to stage 3. I am seriously tired but I believe in myself and this is what I meant to do: Trading Successfully. |
|
|
|
I hope one day I would come back and read this again and my eyes tears because I did it! Hopefully not because I failed to do it. Good luck everyone! |
|
I just entered stage 3 😳 |
|
I think stage 2 is the epitome of 90% of traders that start out on this journey. They try something, it works for a bit, but they switch to something else when they start taking loses or when the profits don't roll in fast enough. This stage is a long rough road which is more about finding yourself as a trader than anything. |
|
|
|
Honestly I feel like I entered stage 4 when I shut out everyone and everything that was trading related. No gurus, no listening to others trading plans, no looking for the best automated setup, no chat rooms...nothing. |
|
|
|
I created my own trading system and edge putting the pieces together one by one over time. I developed a routine and a set of rules. For example, I limit myself to 2-3 trades per day between 10am and 11am. This is done to mitigate over trading. I'm typically done within 20 minutes. It doesn't have to be fancy or complicated...it just has to work for you and your mindset. |
|
|
|
As for stage 5, I certainly hope it doesn't get boring, but rather hope the routine that has been built becomes so ingrained that it feels natural. |
|
|
|
Great article and thanks for sharing. |
|
Good luck traders! |
|
Okaaay.. Still wanna get rich fast :D |
|
Beautifully thought out and articulated. |
|
I focus on my own game now. After 3 years of getting coached it is time to fly my wings and I am killing it! |
|
I'm btw stage 3-5... sometimes i ingore my signals and my trading plan. |
|
|
|
Started a trading journal to try and analyze my target swings bc it almost always goes into profit (scalper) and i let it swing negative... |
|
|
|
I trade anything that moves, but mainly crypto these days bc its 24/7, bc i believe all price action are moved by hft algos and it's all the same. |
|
|
|
Using moving averages, Bollinger bands, and volume. |
|
|
|
In the process of grinding my account back to life.. |
|
|
|
I believe tops and bottoms are tradable. Every candle has a top and bottom (wick). You just gotta know which way it's going, is the range large enough to make prodit after fees and spread. |
|
|
|
Watching eth, at resistance, and ach, at support, at the moment. |
|
go read Follow the Smart Money by Jon and Pete Nagarian at #MarketRebellion. Or The Crash Proof Portfolio. They taught me a ton and I am doing great beating the market every year and a banner year in 2020, up 100%, but everyone had a great year! |
|
just for the record - it's highly unlikely that you can make money just with a moving average and good money management/ psychology |
|
I'm just getting into trading haven't made my first trade yet. |
|
This post was just what I needed to see now. |
|
Thank for sharing this. |
|
Thank you! |
|
I think the 5 stages were mentioned by Jim rohn or if I read it in think and grow rich or turtle traders. Can’t remember which one of these but |
|
|
|
Stage 4/5 here |
|
Do you guys have any recommendations on books about trading psychology? |
|
Indeed sir! |
|
LOL |
|
[deleted] |
|
Please share your experience with us |
|
Share with us your experience please. |
|
Please talk about it. Your strategy, mindset.. etc |
|
[deleted] |
|
Share with us your experience |
|
Hey |
|
This looks like a newbie/general question that we've covered in our [resources](https://www.reddit.com/r/Trading/wiki/index) - Have a look at the contents listed, it's updated weekly! |
|
|
|
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Trading) if you have any questions or concerns.* |
|
Currently reading ""Trading Psychology 2.0"" by Dr.Steenbarger. It's the first trading psychology book in my journey and I am thoroughly enjoying it. It's difficult for me to get into a book if it's vague, redundant, pretentiously written, poorly structured, or assuming I have a level of experience that's more advanced than it actually is. Dr. Steenbarger has a great writing structure and has advice that makes sense. He makes it apparent that you don't need to completely overhaul your thinking overnight but just need self-awareness and to recognize and slowly fine-tune your mental approach. It's even helping me develop my life psychology. |
|
What? |
|
[deleted] |
|
I did...even corrected my spelling errors! |
|
I can't agree more. most of the loses I had were physiological. Either too late to close losing positions, too late to take profits & watching your gain disappear just because you can't react. The psychological aspect of the trade is in my opinion more significant than any fundamental or technical analysis you can do. I am currently reading "" Trade in the Zone' book by Mark Douglas and I am having an 'aha' moments. I use to think it's because I am not using tens of indicators in my chart that I am doing bad in trading, it turns out it's the psychology of my trading |
|
It’s not strategies that win but risk management and consistency, when you lose a trade you need to observe yourself, how do you feel? You want to jump back right into the same market and make the money back and sometimes you find yourself just looking at one market because of your ego. You need to play the game of probability and odds, if You see a play at hand and the risk to reward makes sense then risk money you can afford to lose and consider that money gone, that way you’re not attached to the trade and trade as if you have no positions in the market with an open mind, if you focus on playing the game and not the money then you will be as rich in this game as in GTA, look up takashi koregawa and Raphael Palmdale on YouTube. They key is to not be emotionally attached, have no feelings |
|
This article which is shared is 100% true |
|
Is it a book? 😂 |
|
Your post was removed because you included a URL. Any posts including a URL are removed automatically because of the high volume of spam received from fake accounts. **The moderators have automatically been told** and will release your post if it is genuine - sit tight! |
|
|
|
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Trading) if you have any questions or concerns.* |
|
Transcribed for your convenience: |
|
|
|
Which Trading pitfall will you make today? |
|
|
|
\- Trading based on 'news' or 'experts' opinions and trying to predict the future |
|
|
|
\- Going beyond circle of competence e.g. trading unfamiliar instruments |
|
|
|
\- Trading emotionally and illogically e.g. entering when rules tell you to do nothing. |
|
|
|
\- Ignoring proper rule management techniques and position sizing |
|
|
|
\- Dwelling on past loses |
|
|
|
\- Trading on capital where losing will hurt you emotionally |
|
|
|
\- Focusing on account balance, and not your system |
|
|
|
​ |
|
|
|
\*e.g. stands for exempli gratia and means “for example.” |
|
Sweet, I made every one of those mistakes on one gargantuan f-ck up! 🤦♂️ |
|
Good one! |
|
I wanna make a joke about working on your handwriting, but it’s still 10x better then mine....:( |
|
👏👏👏 |
|
this gave me a chuckle sir |
|
Could be a CFA L3 question. Match the behavioral bias with the pitfall haha. |
|
Yes, I totally agree with your point. I think that is where the automated trading offers you a great advantange about this. |
|
I’m struggling to read that, any chance you could type it out please? My eyes aren’t great sorry. |
|
Most of these make sense, but bad news stories often provide good buying opportunities. |
|
Apologies for the handwriting and thanks for the transcript! It’s risk management btw :) |
|
|
|
Happy new year! |
|
Yes but, the news only tells you to watch the price. You don't trade the news alone |
|
In this market, if you're sitting and watching you miss out. Some of my best returns have been made from bad news stories and scandals coming out of solid companies with strong fundamentals. I buy immediately. Bad news is forgotten rather quickly and prices rebound. |
|
Yes but, you've seen the price react to the news. You saw the price fall on the bad news. So you traded the price's reaction to the news. Or, you see the price has already rebounded and you're too late, for example. |
|
Yes, I think that's what I was trying to say. |
|
Trading really is a meritocracy lol |
|
|
|
It's insane. It's pretty straightforward in showing who is good and who is bad, |
|
You just gave away all the secrets. |
|
And hence why it’ll always be hard for people to make money in this game. I love it. Emotional regulation is the no. 1 skill for this game. But having said that, technicals is the blueprint to trade - you gotta master that as well. Risk management is the easiest. |
|
|
|
So its like - risk management (easy) |
|
|
|
Technicals - (easy to learn but takes months to practice to see the patterns) - took me 2 years |
|
|
|
Emotional management - hardest. - took me 4 years. |
|
Couldn’t have said it better. I definitely resonate with this advice heavily, I was always thinking it but like a sign sent from the heavens I read everything I need to do from some random Reddit post. |
|
I dunno man I just pretend the money ain't mine and that there are no consequences if I lose it. Pull straight bangers all the time |
|
This is priceless. Myself and money it's always fear of losing it, hope of acquiring more and the greed to rack up more and more. The psychology plays a lot. Thanks for this lovely piece of advice. I'm so glad we have demo accounts. I am seeing my mistakes early on, knowing why I got so carried away and made bad trades. |
|
Couldn’t agree more, exactly what I’ve been telling people for years. The biggest difference between trading and anything else is that it shows you instant and explicit feedback from your actions, and carries extra weight because it’s money, and many of us strongly associate that with survival/status/freedom. |
|
My impatient behavior. Wednesday I decided to just book a small loss on a call I bought. It was a Huge loss last week. Yesterday, had I waited. Break even would have happened. My Edge is what I call ""Trend Sloth Trading"". Read about a company in Barron's at some time frame. Insert in watch list. Watch price action. Look at chart briefly. Buy. Wait...... Sell for profit. Literally the Less time I spend looking at my account, the BETTER I do. I've realized 3 years in, physical gold and silver as well as index funds. I do well. Actually up slightly. Personal picks. Depends. If it's emotional attachment (LCID, as a car person who was Anti EV, I love the car. Concept. And am Long and negative 60%). Now, commodities based stocks on the sloth program. Kill it |
|
True enough. Once your data shows you can be profitable technically, the next hurdle is the person. Leverage strength and manage weaknesses. |
|
Yeah we need to adapt. To more non-personal, non-emotional traders by using AI tech nowadays. Why we need to calculate things if AI can do it and make feasible risk reward ratio based on your capital? Money making machines will emerge and trade for us 5-10 years to come or earlier than that. Tweaking some parameters of trade and let the AI do the trading for you breaking all the limitations of us trading manually. Someone is doing it nowadays and if you want to acquire such tech all you need to do is to pay the price. But why would you sell such incredible AI trading machine if it generates wealth for you. Mweheheheheh |
|
The greed I felt when I started to trade was well represented in the movie The Lord Of The Rings when the characters of the movie became totally possessed by greed everytime they saw the ring. |
|
Haha. |
|
Haha same. Reddit saved my life several times already. |
|
Exactly im starting with the same mindset |
|
😂king shit |
|
the worst thing is to be just lucky and boost your ego with fake success |
|
Did someone mention sloths? |
|
Here's a random fact! |
|
|
|
|
|
|
|
Sloths are actually very good swimmers and can hold their breath underwater for up to 40 minutes! |
|
Note that your capital should not affect RRR (until you are unable to get fully filled) |
|
I guess sloths are too lazy to exhale… |
|
I can hold my stocks -40% for even longer |
|
Did someone mention sloths? |
|
Here's a random fact! |
|
|
|
|
|
|
|
Sloths are able to sleep for up to 15-20 hours a day, but when they are awake, they can swim and evengallop up to 5 miles per hour! |
|
Lol, fr fr |
|
I'm Nick Leeson, if you think you're doing badly, i once lost 1.4 billion! I'm doing an AMA",78,https://www.reddit.com/r/Trading/comments/f9eh6r/im_nick_leeson_if_you_think_youre_doing_badly_i/,"Happy Birthday!! |
|
|
|
Questions: |
|
|
|
1. Are you more of a technical or fundamental trader? |
|
|
|
2. What would you say your edge was over the rest of the other traders? |
|
|
|
3. When did you start trading? |
|
|
|
4. How did you fund account when you first started? Job, savings, inheritance? |
|
|
|
5. Do you beleive the market has changed much in the last 25 years? If so, how? |
|
|
|
6. If you do beleive in technical analysis, what tools would you say are the most useful? |
|
What made you confident in your illegal losing trades? |
|
|
|
|
|
Still trying to figure out reddit, the AMA is live now on [r/IAmA](https://www.reddit.com/r/IAmA/) |
|
|
|
Will answer questions there. |
|
have u mastered the Nikkei since then? |
|
How mentally strong do you have to be to get back to the markets after a mistake like that... I am impressed |
|
Are you a believer in cryptocurrency? Bitcoin if you have to chose one? |
|
Hi Dude :-)! I would have never imagined back then that I would be addressing a message directly to you. Although as traders we were already accustomed to chatting through the Reuters Dealing system, well ahead of internet all professional traders/dealers were already interconnected live through a Web that provided real time prices, news, charts images and words. |
|
Back then I was a proprietary trader for a US bank, based in Luxembourg and we were one of the few market makers in ECU. Your story made a great buzz among our relatively small Forex club and I believe because many of us were feeling a great degree of emphaty for your experience as at some point of our life as a trader we all faced the same issue that you had to deal with...I can actually describe a very similar situation: my boss took a short 5 MM USD/DEM spot position (I think it was around the time the rate dropped to 1.36). By the evening the trade was loosing 50 pips and given it was the end of the month and his own boss (the CEO of the bank) did not want to disrupt the monthly reported P&l the position was ""temporarily"" swapped and placed on the account of a ""friend"" customer. Needless to say that from that day on the USD started a long term rally and we never saw the spot price at which the position was opened...so every month the position was swapped and the hole grew deeper until that day that the customer who was ""hosting"" the FX trade on his account became less friendly and forced the CEO to come out of the locker and face his responsibility...I do not recall the exact amount of the loss but something around 2MM$, around 40 figures loss. The CEO lost his job but eventually was hired a month later as head treasurer of a known Luxembourg bank, thanks to usual banking mafia. The bank I worked for repayed entirely the losses to the customer account with a little bonus to avoid a a court case. And life went on as usual. Certainly the amounts involved were nowhere near yours, but the case is exactly similar and I can tell you about many other similar anecdotes. By the way a few years later I read your book (I devoured it on a flight to HK) which helped me understand the real story behind the mess and the lies the media at the time wanted to depict. Thanks to your book I also grew a lot if emphaty for you, to the point that while reading some paragraphs my hands were litteraly sweating. I m really happy to see how you overcame the whole experience. |
|
I think you should consider buying XRP, it will appreciate greatly in 2020 |
|
Hi Mr Leeson. Would you buy individual stocks right now or drop more into a vanguard index fund to take advantage of covid 19 prices? |
|
|
|
I haven't got 1.4bn to lose though xD |
|
What do u think about crypto sphere, fundamental and technical standpoint? |
|
|
|
How have you trained to better adapt to price swings? |
|
[deleted] |
|
If you haven't already, reach out to r/wallstreetbets. You are a hero there. They'll want to know about your AMA. |
|
|
|
​ |
|
|
|
edit: I posted in wsb, but has to be mod approved before it will be seen... |
|
You inspired me to become a trader. Please join |
|
|
|
r/baystreetbets |
|
Like getting back on a bike |
|
I leave them all alone but they have more credibility now |
|
thanks |
|
>I am now back trading and you can follow along at bullandbearcap.com. |
|
Here's a sneak peek of /r/Baystreetbets using the [top posts](https://np.reddit.com/r/Baystreetbets/top/?sort=top&t=year) of the year! |
|
|
|
\#1: [Baystreetbets creates the $BOOMER index](https://np.reddit.com/r/Baystreetbets/comments/esiswj/baystreetbets_creates_the_boomer_index/) |
|
\#2: [now THIS is podracing!](https://np.reddit.com/r/Baystreetbets/comments/eywlib/now_this_is_podracing/) |
|
\#3: [Just purchased ARITZIA Calls.](https://i.redd.it/ve2r9ql2i9441.jpg) | [0 comments](https://np.reddit.com/r/Baystreetbets/comments/e9t3ic/just_purchased_aritzia_calls/) |
|
|
|
---- |
|
^^I'm ^^a ^^bot, ^^beep ^^boop ^^| ^^Downvote ^^to ^^remove ^^| [^^Contact ^^me](https://www.reddit.com/message/compose/?to=sneakpeekbot) ^^| [^^Info](https://np.reddit.com/r/sneakpeekbot/) ^^| [^^Opt-out](https://np.reddit.com/r/sneakpeekbot/comments/ciakte/blacklist_vi/) |
|
Python For Finance YouTube Tutorials for Beginners (Backtests, Stock Screeners, Alerts + More)Great work! I will definitely dive into it on weekend, although my Python skills are close to zero. Cheers and thanks a lot. |
|
Thank you this is awesome. |
|
Minor suggestions: |
|
|
|
1) you can use scipy peak finding |
|
2) use itertuples to iterate over a data frame |
|
|
|
That's all I could see, you should post the actual code somewhere. |
|
Nice |
|
Thank you for this, I've been looking for a good tutorial on this, I'll definitely check it out! |
|
Thanks I saved this as a resource! |
|
Wow, Thanks man, I guess i m gonna watch this over the next couple of weeks. |
|
There is a python library called Tulipy with a lot a indicators for technical analysis, I think it's the best one. It could be a nice topic for a futur video. Thank you for the nice work btw! |
|
|
|
[https://tulipindicators.org/](https://tulipindicators.org/) |
|
No problem! I would suggest you start with the introduction video. I take it slowly and try to cover the basics in that one. I recommend having a program in mind that you want to build. That makes learning easier. Take care! |
|
Glad you like it! |
|
Thanks for the feedback!! I'll make a github shortly |
|
𝓷𝓲𝓬𝓮 ☜(ﾟヮﾟ☜) |
|
#Nice Leaderboard |
|
**1.** `u/RepliesNice` at **6665 nices** |
|
|
|
**2.** `u/spiro29` at **5323 nices** |
|
|
|
**3.** `u/DOCTORDICK8` at **4158 nices** |
|
|
|
**...** |
|
|
|
**276616.** `u/cowboomboom` at **1 nice** |
|
|
|
--- |
|
|
|
^(I) ^(AM) ^(A) ^(BOT) ^(|) ^(REPLY) ^(**!IGNORE**) ^(AND) ^(I) ^(WILL) ^(STOP) ^(REPLYING) ^(TO) ^(YOUR) ^(COMMENTS) |
|
Go for it! |
|
Great! |
|
Go for it! Glad you find it useful!"
|
|
"One pattern to rule them all (Seriously, just watch for this and you are golden)",69,https://i.redd.it/zhr5advfjr861.jpg,"That’s not what abcd pattern is. It’s a cool story tho |
|
Works only if the stock is bullish, however. |
|
lol that’s not an abcd |
|
This pattern works great intraday for pennystocks if they have good news around them |
|
This is basically one of my day trade strategies on mid-priced stocks: |
|
|
|
- first leg creates HOD level |
|
- pullback to VWAP |
|
- second wave which tests VWAP area again (confirmation that VWAP holds) |
|
- entry when second wave breaks with stop loss below the second test |
|
|
|
Of course there are tons of things to consider. 9EMA in 5min chart should not be extended, ATR should not be exceeded, or RVOL should be high, and so on... |
|
I don’t like to trade off of patterns. They could be helpful to know but, just like the MACD indicator, they are just for reference and should never be traded off of alone. |
|
Pulling a fib from the swing of the high to the swing of the low, |
|
|
|
Point C I find likes to hover around the 0.618. and can make for a good entry |
|
I call this a ""fish hook"" pattern but it's something I observed on my own. Is there an actual name for this? |
|
Knowing that patterns vary, in this model where do you typically like to buy? Hard to know where B will end up every time. Curious what your approach is. |
|
Then what is abcd and what is this pattern considered? |
|
I guess if you turn it upside down it works for bear markets too |
|
Strong supply and demand zones are a great sole indicator. As long as have a general understanding of price action. |
|
ABCD. but fish hook sounds more legit |
|
1, Abcd is not a break out pattern , it’s a reversal. Meaning: after the seeming break out, ( to catch people on the wrong side of the market)price will reverse and usually falls below the starting price of the pattern. |
|
2,That on the picture is not ABCD pattern. The ABCD part is marked completely wrong. |
|
MUST KNOW!: ESSENTIAL TIPS on how to Research, Analyze & Perform Due Diligence on Stocks [What to look at]que gran aporte!!!... mil gracias por compartir esta información, a personas como yo que deseamos saber sobre el tema es muy interesante, muchas gracias! |
|
Newbie question. Where's a good place to learn more about what any of this means? I followed about 15-20% of those terms. I'm eager to learn, but have no one to teach me. Self taught is my only option, but I don't even know where to begin. |
|
[deleted] |
|
De nada, con mucho gusto. De donde eres? Para obtener mas ayuda : https://www.flowcode.com/page/fluentinfinance |
|
So, Investopedia is a great place to learn things. Also, check out the discord, lots of helpful people! |
|
your welcome, glad to help! Thanks! |
|
Thank you. I'm on the discord and bookmarked investopedia. Made my first great trade with bepro. |
|
How I got better trading results by wearing different hatsVery true |
|
Excellent post. One of the best posts I have read on Reddit. Thank you for sharing! |
|
I take my hat of respect to your sir, thanks for this precious psychological strategy ! |
|
Sounds like a good plan of discipline. I’ll take the advice; thank you |
|
Disappointing seeing such a good post having so less comments. Interesting experiment/technique. Well done. |
|
[removed] |
|
Thanks! |
|
My pleasure |
|
My account is old but I have no karma, and I’m not allowed to post on a lot of subreddits. I do believe I’m a good trader (not day trader) but over the 10-50 days because I have a full time job. I want to see what anyone on here thinks about my charts... |
|
Hi |
|
|
|
Just stumbled across this sub. I've been momentum trading small/micro caps on the long side for a couple years now. It's a pretty good method for those of us with a standard 9-5 that aren't able to watch intraday price action. I'm trying to find a good sub to discuss actual trading strategies as opposed to YOLOing meme stocks or indexing. Seems like this place has some potential |
|
I bring in different background which purely technical to help daily traders make a better decision on stocks |
|
Welcome! Not new to trading but fairly new to Reddit. <2 years. More of a lurker. Just looking for info since WSB has been flooded with nonsense. Thanks. |
|
Welcome to the mod fam! 🎉 |
|
|
|
I’m a decade options and futures trader. My bread and butter is in option spreads. |
|
Hi, I have just posted a message this morning and this is my first time. It was blocked because of the voice of Spam. Kindly approve it. Ty |
|
What is Karma? |
|
Reducing karma isn't a big deal if the requirement is 10 karma (maybe make it 5? idk) but I spoke to someone earlier who suggested using discord instead for what I wanted to post. |
|
|
|
If the goal is to keep this subreddit relatively dead, sure we can all go to discord. But if not, maybe there should be a certain amount of content that is more encouraged here and not just pushed to discord. |
|
Great! |
|
[removed] |
|
[removed] |
|
The solution to this seems to be reducing the karma requirement for posting. The only problem with doing so, is that the amount of spam posts will likely increase dramatically. I may propose reducing the karma requirement and if spam posting does increase within a few days, then I will have to put it back up. I am open-minded to seeing how this would work for the sub though , if this would be what you want. |
|
We're glad you found us and like it here. There certainly is a lot of potential, and I am working on bringing that potential to the surface. Be sure to check out our discord, linked in one of my recent posts, as we are becoming active on there as well. I hope you benefit from joining! |
|
TPW, that is a pretty good target for 8-5 jobs. I have been on the street 30 years ago, been through the quant wars. |
|
|
|
I also am looking for a good sub to discuss trading strategies on more of a professional basis. Meme trading is only good if you frontrun...and yes it does happen. That is why I avoid it. |
|
Thanks! I look forward to playing my part for this sub. |
|
|
|
Would you be open for doing a post explaining how you trade? And maybe detailing option spreads and how you profit from them? Or even anything else you belive could be relevant? |
|
I am sure the community would appreciate the insight. |
|
Post approved |
|
Karma has been reduced to 1. Also, I find it understandable about the discord taking away from the subreddit. I will work on that, and will improve activity here as much as I possibly can. The discord simply facilitated quicker discussion and sharing of key information, but I will push for anything of true value to be posted here. |
|
There is something we don't like about this post. If you don't agree, please sent our mod a brief note clarifying this post. |
|
|
|
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Trading) if you have any questions or concerns.* |
|
Well people that spam probably have no good karma; I wouldn’t be opposed to it, let’s see how it goes! |
|
It’s not hard to get karma with even one or two helpful comments, let alone regularly contributing somewhere. If someone has helpful information to offer, they can post in places where they’re able to post, and karma will follow. |
|
Karma requirement for posting? I thought this was a democracy. Let the shit posts in and they will be downvoted appropriately |
|
I agree. I just don’t see the karma requirements being too effective. It’s all the same topics and then a lot of comments rooting on the op. |
|
Have a look at r/investing. |
|
There's nothing wrong with it, it's a different medium and a faster paced form of chat, but it's essentially a different type of chat than a forum. That's why I think there should be something done to foster growth on both, rather than making it so that the forum is so inactive that you just find your answers on discord instead. Some things should be kept here and vice versa, if that makes sense. I'm just speaking from my own experience running forums and communities, and what I saw was that once the in-game took care of too much, nobody cared to visit the forums. But if I kept certain things distinct and made it so you HAD to get certain things done on forums, it kept forum activity up. |
|
|
|
Not sure what the goals are here, since it's not up to me, but general growth in activity is almost always good so that's my two cents. |
|
Karma requirement has been updated to 1+. This still blocks negative karma posters, but allows everyone else. I will revise in 7 days. |
|
The karma requirement is equivalent to one upvoted comment. Otherwise there is trading212 referral spam along with the other websites that have come and gone throughout the years. |
|
This sub is hammered with people spamming referral links and scam websites. Asking for an account to have 10 karma before posting isn't a massive task to achieve. |
|
I appreciate your opinion and insight and will be sure to keep it in mind. Thanks! |
|
Well yes, that’s my point. It’s easy to get karma especially if you’re actually offering helpful info, so in my opinion there’s no reason to lower the karma requirement just because someone claims that they have ‘an old account but no karma’ but that they’d love to post their ‘charts’. If they already were posting charts or do it now at places where they can, and if people find them to be helpful, they won’t have to worry about how to get a few karma to be able to post on certain subs. |
|
Okay I got cha |
|
We are in pure agreement my friend. Cheers. |
|
I'll send it to my friend, he loves cryptocurrencies |
|
Is there any subs for algorithms? |
|
I just bought a book on python yesterday. What else do u recommend for learning how to start my own algorithm? |
|
Github repo now available [https://github.com/CyberPunkMetalHead/Bitcoin-Surge-Trading-Alpha](https://github.com/CyberPunkMetalHead/Bitcoin-Surge-Trading-Alpha) |
|
I'll probably not use it as is, just for inspiration, but it's a great article. Thanks for sharing, I really like your view! : |
|
|
|
"" |
|
|
|
* We are in a unique position to learn the early movements of the crypto-market with no barriers, and all of the tools at our disposal."" |
|
Interesting project! |
|
|
|
Have you considered having this on GitHub? |
|
I want to learn more on how to do this, is there more links and information on how to get started?? |
|
good question, I would like to know as well! |
|
|
|
Edit: /r/aglotrading seems like the one :) |
|
Learn the syntax first and then maybe have a look at the code used to build bots in general. Whatever’s not familiar look it up. |
|
Some projects on GitHub to look at: |
|
|
|
Freqtrade |
|
|
|
Superalgos |
|
|
|
CCXT |
|
Thank you, and good luck! |
|
Thanks! I am considering it, but I’m not too familiar with the interface. I will certainly look into it though. |
|
|
|
Edit: a word. |
|
The article contains all you need to get is started in a nutshell [https://www.cryptomaton.org/2021/03/14/how-to-code-your-own-crypto-trading-bot-python/](https://www.cryptomaton.org/2021/03/14/how-to-code-your-own-crypto-trading-bot-python/) |
|
|
|
Let me know if you have any questions. |
|
Thanks. Only a small sub at the moment |
|
Appreciate it! Will be doing some research thanks! |
|
This might help if you prefer command line/terminal: |
|
|
|
https://gist.github.com/ccannon94/982d69b23659d66c0ca6fb1384f94c97 |
|
[removed] |
|
Ah, nice. Is it possible to embed the code from GitHub onto my website? Figure it might be cleaner that way. |
|
Should be doable. Depends what platform you're using. Here's a guide for WordPress: |
|
|
|
https://embedpress.com/docs/embed-github-gist-snippets-wordpress/ |
|
Cheers, yes it is Wordpress"
|
|
Why cobalt is the new lithium: 81% to 450% price potential with cobalt mining sites like First Cobalt ($FCC),63,https://www.reddit.com/r/Trading/comments/m2ve7i/why_cobalt_is_the_new_lithium_81_to_450_price/,"Loving your DD's, thanks for the good work |
|
I think you are underestimating the reduction of m cobalt as a part of these chemistries in EVs. And in energy storage, LiFePO4 has become the dominant solid chemistry due to its much better cycle life when compared to NMC. LiFePO4 has also made inroads into EV's such as the Chinese Model 3 SR which now uses that chemistry. |
|
|
|
I think cobalt demand will remain high but I do not see a major crunch in supply that would drive more than a modest short term bump. |
|
I thought of this but I’m out considering non cobalt batteries are entering the market specifically because of the issues with supply. |
|
Dude, this is some solid work. Thanks!! |
|
Did not read your dd after seeing graphite at the top if the chart. |
|
|
|
GRAPHENE YALL |
|
Bought 550 stocks |
|
Glad to hear that :) |
|
Thanks for your feedback! The zero-cobalt-battery is definitely my biggest worry with regards to the risks - that's why I am also only in with a rather small, speculative stake. However, I believe that zero-cobalt batteries will be definitely a thing for high-technology players like Tesla. Countries/manufacturers with a lower technological standard or low health and safety standards regarding mining (China) might still use quite some cobalt for a while. In the end its a gamble. |
|
The full analysis can be found on the Trading View portal here: https://www.tradingview.com/chart/BTCUSD/SYA8fgvX-Types-of-market-days-every-trader-should-know-about/ |
|
Thanks for picking this up and posting! |
|
Thanks for sharing this. Very educational for beginner day traders! |
|
|
|
Pls accept a helpful award. |
|
How do you explain a day like today? |
|
|
|
Everything is against its week's long trend. And will just revert back to trend...again. Making these kind of yo-yo days. |
|
|
|
And I can't seem to find news that explains the behavior, unless half the market trades on yesterday's news versus the other half trading on today's..... |
|
this is cool. |
|
i love chart porn. it always one day behind. i need tuesday’s news on monday! |
|
|
|
this is useless “trading education” because you only what day you had at eod, 4pm. how can take this information and trade the next day?! |
|
thank you for the gesture. much appreciated :) |
|
this is a veery valid point. And it baffled me, too. I am open to suggestions. Feel free to share your thoughts in case you figure this out |
|
I guess ou missed the point of 'education'. this is not a prediction. it is a guiding principle to allow traders to gauge the type of the trading day. As with all Technical analysis, smart money determines the direction of price. |
|
Well the best I can come up with is that the market is a few large groups of constituents like a parliament. |
|
|
|
Sometimes small parties align to form a coalition governemnt. |
|
|
|
Other times they don't align. |
|
|
|
If we use that analogy then the big-monied interests are probably their own coalition, and the others are the loyal opposition. That being the case, I'd start to look for reasons why the institutionalists behave the ways the do, which sometimes they seem to pull back and it makes the government look like the minority is now the majority. And the policies (price action) starts to behave as if they are in control. |
|
|
|
But really the intuitionalists just stepped out a moment. |
|
|
|
I think the Earnings and Fed Chatter largely did that....so the stocks reverted to how the noobies and lesser-monied people trade. And how the contrarians trade, people who expect opposites to occur and trade with those opposites. |
|
|
|
The market isn't full of ldiots when institutions pull out, it's just full of more ldiots once they do. |
|
|
|
That's my theory anyway. |
|
much appreciated insights :)"
|
|
Elliot Wave Theory - An Introduction! (Part 2),64,https://www.reddit.com/r/Trading/comments/mb100z/elliot_wave_theory_an_introduction_part_2/,"My question is: how do you identify the wave 1 across a given timeframe |
|
Thank you for your time and efforts! |
|
Thank you for taking the time to add wrinkles to my brain. |
|
Please link to Part 3. It’s too easy for posts to get buried in the memescape. |
|
Thank you for doing this! |
|
Nice. Got a book on wave theory. Will be reading it soon |
|
So to get this straight, and anyone else is welcome to comment, leading and ending diagonals are either 3-3-3-3-3 or 5-3-5-3-5? It seems kind of odd that you decided to make one of the ending diagonals 3-3-3-3-5, which text of elliot wave theory says that's possible? |
|
Unfortunately wave 1 is usually the hardest to identify, unless you have correctly identified an entire corrective wave series of A, B and C and can confidently say that the next wave Must be wave 1. Otherwise its usually best to try identify wave 1 once wave 2 ends, so that you can trade the breakout that usually comes with wave 3. |
|
This looks like a newbie/general question that we've covered in our [resources](https://www.reddit.com/r/Trading/wiki/index) - Have a look at the contents listed, it's updated weekly! |
|
|
|
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Trading) if you have any questions or concerns.* |
|
No praying and drinking steps? Or is insert it before and after every step assumed? |
|
everything on point man! I experienced all of this probably in the same sequence. Currently in step 29 and I get humbled every step. Hopefully reach 32 in two years. |
|
Where should I insert the part where I blow up the entire account? |
|
[removed] |
|
39 buy low, sell high |
|
Do more of what makes you profitable and less of what makes your losses. |
|
This is so accurate, currently on/around step 23. I’ll get there! |
|
Accurate |
|
TL DR: Trading changes you from any perspective. |
|
|
|
I started my trading journey 5 years ago, I was a very arrogant 19 year old broke bartender that wanted something different. I read constantly, and I mean constantly, in my way to work, at work, at home, every time, especially in the first year. I lost a lot of money (the amount doesn't matter, it was a lot for my net worth at the time), I just broke even after the third year. I traded many instruments, apart from options as we can't trade them in the UK. In the first half of year margin calls were an event that occurred on a weekly basis, then I learnt how to size my trades. I tried many styles of trading until I found my style and started seeing improvements, meaning smaller losses. One issue with trading is that you can practice a lot and still suck at it if you're ignorant. So after the first few years of me trying to make money trading and failing I decided to step my game up, so I started an undergrad degree studying finance and investment banking. Then things started to look better for me, mainly because I was a different person. The point of this comment is that trading changes you as a person because when you are putting your money where your mind is at, then you see all your insecurities in stock charts and P/L. Now, for me, trading was and is one of thee hardest things that one can do, but this is why I love it and why I respect financial markets. |
|
Man, I needed to hear this. Was on the verge on about to quit. Everything you’ve highlighted, I’ve been through. Currently I’m at step 20-22. It seems I’m on the right path |
|
[deleted] |
|
I went from 4k to 20 k in ten days, to 1k. I'm taking a long break right now, lol. |
|
This looks like a newbie/general question that we've covered in our [resources](https://www.reddit.com/r/Trading/wiki/index) - Have a look at the contents listed, it's updated weekly! |
|
|
|
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Trading) if you have any questions or concerns.* |
|
It seems to me that trading makes you a better person in this way. Would you agree? |
|
This looks like a newbie/general question that we've covered in our [resources](https://www.reddit.com/r/Trading/wiki/index) - Have a look at the contents listed, it's updated weekly! |
|
|
|
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Trading) if you have any questions or concerns.* |
|
Technical Analysis Series (1): Candlesticks, what are they and how do I use them?Many thanks for your highly educational and informative post. We are glad to have you as part of the team here at r/Trading. I wish you the best of success on behalf of the community, and I am sure you will do well! |
|
Nothing more important than price, which the candles give you great insight to, but it can become overwhelming for new traders. I typically look for one of 3 candlestick patterns off a level for all my entries, inside bar, engulfing bar or pin bar. Any patterns not off support or resistance I ignore. |
|
|
|
I have those patterns printed and stuck on my wall, great post! |
|
Thank you, this is just great |
|
Thank you! |
|
Nee traders should take a moment to learn ;) |
|
Great write up! |
|
This looks like a newbie/general question that we've covered in our [resources](https://www.reddit.com/r/Trading/wiki/index) - Have a look at the contents listed, it's updated weekly! |
|
|
|
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Trading) if you have any questions or concerns.* |
|
Good luck trading forex on the weekend! |
|
You should stick to the recommended brokers list for this subreddit, or use the one on Babypips for offshore trusted brokers. If you don't, just don't be mad if/when you face withdrawal issues. Any broker that isn't regulated is a coin flip and can be a hassle to withdraw from, so keep that in mind. |
|
I don't understand, what the allure to trading forex? |
|
|
|
Why not just trade asset classes that are established and have real brokers? i.e. mini futures, equities, etc. |
|
|
|
I feel like if you cant afford the margin for a mini futures conract then you really shouldnt be trading tbh. |
|
If you have to ask which forex broker , odds are is you shouldn’t be trading forex. |
|
You can look into the [Moonance](https://moonance.com/partner/), Global Prime, and FP markets. These brokers' trading conditions are reliable, with lower commission costs and spreads. |
|
|
|
I trade with Moonance using their raw ECN account, which provides spreads as low as 0.0 pips in EURSUD and an execution speed of 30 ms. |
|
EagleFX has not given me any problems plus unlimited demo accounts. But yeah can't trade FX on the weekends |
|
If u are outside US ... Try Roboforex and dukascopy. I have been using Roboforex them for few years now.. the payouts are good. I traded in dukascopy during 2013-2018. Had good experience with them as well. |
|
|
|
But fo your own research before u open a funded account with any brokers. |
|
Depends what country you are in. IG, OANDA and CMC markets are all regulated and personally tried by me and recommended. I think only IG does crypto (and not weekends). Weekend crypto trading is a suckers bet anyway. Good luck |
|
Licensed & Regulated US clients accepted! And up to a 1:500 leverage! |
|
You can trade gold, indices, currency pairs etc.. |
|
|
|
https://my.swaymarkets.com/auth/register?partner_code=2855341 |
|
Only crypto on weekends |
|
Me personally I like trading forex because studying one or two pairs learning how they move and recognizing the patterns that often repeat themselves is much easier than doing all the diligence required to trade stocks and such. Reading earning reports and balance sheets to determine wether a stock is of interest or wether there’s a play to be made doesn’t seem interesting |
|
Or you should educate yourself well first |
|
.....I should have added the */s* |
|
you dont have to use fundamentals to trade equities. |
|
|
|
If you are a technical trader, as you are describing, they price is really all that matters. |
|
|
|
So why not just trade underlyings with reputable brokers? |
|
|
|
Not throwing shade, just trying to help. |
|
It’s cool man no shade taken. At this point I’m just not gonna switch over and learn something new when I have found success trading currencies. |
|
I created a spreadsheet of cannabis ETFs and their holdings. I used it to find the stocks that are held by most of them. ETFs are managed by professional traders. If multiple ETFs see enough potential in a stock to invest in it, then it's probably a good buy. Link is in this post. Enjoy.",61,https://www.reddit.com/r/Trading/comments/lgmm0t/i_created_a_spreadsheet_of_cannabis_etfs_and/,"[deleted] |
|
APHA ftw. |
|
|
|
I love your list however MJO is a leverage ETN and risky one. CNBS is a great Active managed ETF with Tim Seymour at the helm. I like CNBS and I very much love USA company Cresco. Check them out and let me know what you think. If you guys want a a great low priced CANADIAN company Organigram Holdings (OGI). They use a 3 tier growing system that produces masses amount of flower at the lowest operating cost possible. Check it out yourself and you will see. My account here may be new but I assure you my knowledge isn't. Time is money so I won't waste it with links and long paragraphs on why my picks are wins. Were all adults so check it out for yourselves because frankly it's your money so do your DD. Good luck and I wish much success to you all. |
|
Well done grasshopper. Well done. |
|
I really admire your approach. Are you doing this with other etfs and or funds |
|
Thanks for the file op! |
|
Most of the time I use ETFs data to do my own DD and then pick stocks that would give me more return than investing in the ETFs themselves. So, great job! Thank you! |
|
What’s more important to me is what percentage of an institution’s portfolio is taken up by a particular stock. The unicorns are the ones where funds allocate >2% of their holdings, sometimes even as high as 10%. Obviously do your research, it’s only an indicator of a good stock not proof. Manage risk etc.. this is not financial advice. |
|
Any ideas of which stock will be going up? I don’t know where to put my money I just cashed out of OCGN |
|
​ |
|
|
|
**Join our discord - discord.gg/hz9bBaWTdr - for crypto and stocks discussions, #fairnesspolicy pumps and trading classroom!** |
|
Can't believe High Tide is not on there |
|
Yeah most of these cannabis ETFs aren’t actively managed. My plan is to use this as a guide. There’s tons of cannabis stocks out there and most of them haven’t been doing well financially. After finding the ones that are held by multiple ETFs, I’ll do my own research into them. For instance, I found out that VLNCF is undervalued, actually made profits last year, and is currently expanding, even though they’re already Canada’s largest producer of cannabis 2.0 products. Valens Co. also has high analyst ratings. I then bought 695 shares. I probably may not have gone this deep into research with it without knowing it’s held by 5 out of 8 ETFs. I’m trying to find cheap cannabis stocks that are actually good longterm holds. There’s just so many to choose from. |
|
Thank you and I haven't yet, but I definitely plan to |
|
[deleted] |
|
I considered it, but they're too expensive for me to get a substantial amount of shares, my goal is to pay off my student loans lol I'm mainly planning to buy the ones less than $10 |
|
For People who are new to investing and trading, DO NOT short sell a down trending market!Valid advice, except IMHO the last point. Learn How To Day Trade is probably not a good advice for People who are new to investing and trading. I wouldn't consider day trading unless you either view it as casino gambling or gained years of experience with less risky trading strategies. |
|
So maybe this is a stupid question but I don't know anything about ETFs. Is buying an inverse ETF not much the same thing as shorting? |
|
Was it stupid or smart that I bought shares in SQQQ at 14.05 today |
|
[removed] |
|
Maybe one angle is dont be afraid to evaluate and sell, not every purchase has to be long term, set it and forget it. |
|
|
|
What I like is this: |
|
|
|
70% funds, traditional |
|
|
|
20% cash, so i can act if needed |
|
|
|
10% individial stocks from 1 day to years. |
|
|
|
The 10% mentioned is fun, challenging, AND since I check them daily, I tend to be more aware of the progress of the 70%, and aware of short term opportunities with the 20%. |
|
|
|
I just use a portion of that cash account to get some sqqq, because I'm a wee bit jumpy. |
|
Correct, it's similar to shorting the index funds, minus the risk of the unlimited risk of short selling and the margin call. |
|
In addition to the response you got, I would strongly encourage you to look over the prospectus for an inverse etf. They are often designed to follow the trend of whatever they track *within a given trading day*, but will not maintain that trend for multiple days. They also have significantly larger expense ratios. |
|
[removed] |
|
Inverse and leveraged ETF are designed for intraday hedging and are rebalanced everyday, if u hold on to them for days/months u will lose money even when the trade goes your way. Be careful, u might be frustrated on an inverse when the next day market is down 3% and u are only up 1% on ur position |
|
Imagine not closing the short forever because the market just carried on balling lol |
|
ETFs have gone to zero. ETFs have gone under. When buying an ETF there is a risk of losing it all. |
|
|
|
When you go short, if you lose too much your broker will margin call you. You will get margin called before you lose everything. So when you short you can not lose everything, except if the company you're shorting goes under. |
|
[removed]"
|
|
Studying too much about trading is detrimental,60,https://www.reddit.com/r/Trading/comments/10m8qsc/studying_too_much_about_trading_is_detrimental/,"This looks like a newbie/general question that we've covered in our [resources](https://www.reddit.com/r/Trading/wiki/index) - Have a look at the contents listed, it's updated weekly! |
|
|
|
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Trading) if you have any questions or concerns.* |
|
this thread is talking about me and i don't like it |
|
Analysis paralysis baybbeeeee |
|
Given that the majority of readers on this sub are beginners, relative beginners and hobbyists, I don’t think telling them to learn LESS is doing them any service. |
|
|
|
Most people need to study more of the right things - study your own trading. Journal, and study that journal. Analyse your trades daily and weekly. That will have more benefit than a new book, and 100x more benefit than spending the same amount of time on Reddit where the blind lead the blind. |
|
|
|
That said, if I had to invest money in one of 2 traders and all I know about them is how many hours they’ve spent studying and how many books they’ve read, I’d put my money with the guy who’s studied more, obviously. |
|
Exactly right. Don't try to find the perfect trading method, it doesn't exist. Just find the trading system that works for you. |
|
Word. |
|
Your saying two different things. Agree with sticking to one strategy. But I think continuously learning about he markets is a must. |
|
Facts, my trading became a lot better when i stopped trying to mimic What others were doing and started going off my own strategy and the time frames I felt comfortable with |
|
Stick to one system but gain knowledge that can help you. |
|
|
|
I recently learned about market internals like ADD, VOLD, and TICK. Works amazing with my trading since I trade indexes. |
|
agree. practice and screen time is where it's at. |
|
Totally agree with you. Studying too much about techniques and frameworks might make traders overwhelm with the theories. Assumptions or past experience are what courses or books of trading focus on, so it is crucial to get our feet wet. |
|
I was just thinking about this.. i read and absorb so much and its great info sure.. but wont tell you when to buy and sell. The other thing is once you pick a strategy stick with it for a while even when it seems like the prevailing winds are going against you. Everything that goes down will come up, and you can't go leaving before then! |
|
I disagree. The more you know about the guts of a company or their leadership can help make you a more knowledgeable trader and help you get a sense of where they want their company to be positioned in the future. |
|
I actually agree. The best trading days I have are when I keep it simple. Simply identifying trends and support and resistance areas instead of trying to catch the order bock liquidity hidden institutional double legged pullback trade. |
|
|
|
Sometimes, more knowledge clouds your perception about the bigger picture that is often simple and more obvious. Don't get lost in details. |
|
Fibanocci, dow theory, and tape reading is all you need. |
|
I really don’t need to study that much tbh. |
|
u need to understand fully what you study and the nuances of it. |
|
|
|
also apply a set of filter to what matters to your setup and what doesn't. |
|
Mmm. It important to be a student of the game. There is no such thing as studying too much as long as you are equally back testing as much. It’s important to know how to discuss what you are doing, and not just do it. Especially if you are passionate about something. This sounds silly. |
|
This is the best way to control winrate, drawdown, and ROI 👍 |
|
Go with what works for you.. Though its always good to continue reading and twicking your strategy once in a while |
|
How’d you develop your own strategy? Any books or other resources that helped? |
|
Any strategy will have periods of drawdowns but if it has an edge that it shouldn't deter you. |
|
Tape reading. Get that down and you’re solid. |
|
My strategy is pretty dumb and pretty simple. First, I looked at which timeframe two of my favorite indicators are most effective, then I backtested to see the win rate (it was around 68% but irl i get around 53-60). Third part was trial and error and developing the intuition to apply the strategy by trading. |
|
|
|
Edit: its nothing groundbreaking, just an ema crossover along with squeeze mom indicator. |
|
So indicators alone can work for profitable trading? |
|
Nah, there's also intuition about when the strategy works best. Otherwise the returns will be inefficient. But who knows, i havent tested algotrading |
|
[deleted] |
|
how do you go about screening for stocks that meet these criteria? |
|
Sounds a lot like [Kullamäggis](https://qullamaggie.com/about/) approach which I follow since 2 weeks. Catching fast moving stocks right at the breakout. Guy made 5k to 80 million within 10 years. |
|
great post! we need more of this! |
|
In the backtest I used three moving average periods: 10, 20 and 50. |
|
|
|
so which one performed the best? |
|
Commenting to read later |
|
Thank you my friend! I hope you find Brad’s work as valuable as I did! |
|
[http://tos.mx/X65eZon](http://tos.mx/X65eZon) |
|
Kristjan is a great trader - perhaps one of the best. This strategy shares some of the same principles but has distinct differences. SEAS for example triggered an entry last week and a re-entry yesterday with the 20/4 Perfect Setup but Kris said SEAS didn’t look good and described the price action as a “bar code” in yesterday’s stream. |
|
Thank you my friend. It took many hours to put together but I look forward to conducting more research like this in the future. |
|
The longer you hold a stock the more the avg gain is going to be due to the persistent upward drift of the markets. |
|
Haha the bar code term came from one of his twitch followers. Such a fitting term to describe ranges with too long wicks |
|
I agree that this method looks like an interesting way of quantifying a similar strategy to Kristjan’s, especially for those trying to learn and are maybe hesitant on some of the more discretionary aspects. Great video 👍🏻 |
|
Thank you for your comment! To clarify, this strategy is adapted from Brad Koteshwar’s boom entitled “The Perfect Specualtor” not from Kristjan’s strategy. |
|
Trade what you see, not what you thinkThis looks like a newbie/general question that we've covered in our [resources](https://www.reddit.com/r/Trading/wiki/index) - Have a look at the contents listed, it's updated weekly! |
|
|
|
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Trading) if you have any questions or concerns.* |
|
Just to add to your observation, in trading you should be looking at things everyone is looking at; that is where the greatest reactions will be. |
|
When people do their technical analysis, the first question you should ask yourself is who else would be looking at what I am looking at? |
|
If you make up a bunch of conditions based on a bunch of differing indicators and time frames, do you really think the masses are looking at that too? Look for things that print on the chart every day that everyone can see. |
|
This is true, we tend to trade our future ideas 😅 because it feels good to predict price action. |
|
Trade the market you got not the market you want. |
|
|
|
I have rules for everything, lol. |
|
Nice. I'm coming to terms with letting go what my game plan is and just trading in front of me. |
|
Wow! |
|
If you’re so profitable why do you keep preaching and plugging your website? |
|
|
|
Just make the money in silence or are you trying to convince people?? |
|
|
|
I agree though trade what you see. |
|
Very well written. |
|
So true I thing the hardest part of trading is keeping your emotions in check and continuing to trade the system. |
|
Yep, thinking from a point of view other than your own will make you see much clearer"
|
|
How doing a trading journal helped me to become a better trader,57,https://www.reddit.com/r/Trading/comments/rjv1p5/how_doing_a_trading_journal_helped_me_to_become_a/,"This looks like a newbie/general question that we've covered in our [resources](https://www.reddit.com/r/Trading/wiki/index) - Have a look at the contents listed, it's updated weekly! |
|
|
|
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Trading) if you have any questions or concerns.* |
|
If you could categorize the trades based on strategy used to get statistics on how tweaks in strategy affect your winrate and results, it could be worth it for a meticulous record keeper. |
|
|
|
Personally I just like to keep things simple and have both my strategy and my trades written down using Emacs + org-mode in a simple spreadsheet. |
|
I've been looking for trading journals and haven't found a good one, yet. |
|
Surely I would love to see the journal you're going to build. |
|
thats a great story man, thanks for sharing. |
|
|
|
i'd def use the journal app if you made it. i think it would help a lot of new traders, even advanced ones. |
|
|
|
hope you can see the idea through to the end because i'd be happy to use it myself. |
|
Trading journals are very helpful in tracking trades which let us know where what was missing so that the same thing is not repeated. It is not important that you should share your journal but it is for your personal reference. |
|
I’d definitely pay to download and use. Non of that monthly subscription crap though! Lol no but I just started journaling and I bought a physical planner I haven’t even touched yet. I’ve been writing notes in my Notes app if it was a green/red day, trades made with P/L, mistakes made and overall anything I did I think would be useful to look back on. Leaning towards a phone app for sure. It has to be user friendly. Me personally, if it’s a bit complicated I’ll find something else to do the same job. What did you have in mind for such an app? |
|
|
|
Disclaimer: I have no previous experience with any journaling and my trading experience is limited. Been learning everyday! |
|
Hi, I’ve been trying to get myself into trading for just over 4 months now, watching YouTube videos, downloading loads of different apps and reading a lot about trading. However I can’t seem to grasp how or where to actually start. Can you recommend any apps that have been reliable for you and/or any YouTube videos that have helped you to understand trading? Thanks. |
|
Yeah it’s probably high time I start one. |
|
You can find tons of options now, imo the biggest issue is one would have good UI but bad UX or vice versa. |
|
|
|
My favorite of the bunch is TraderSync. |
|
|
|
When coming to costs, they are pretty expensive or very small trial timeframe. Having this lower, would allow new investors a chance while remaining on a budget. |
|
Hey, could you share your list of metrics that you use for journaling? specifically divergences, retrace and order blocks etc. |
|
I've been looking for a spreadsheet to track trades. Can't figure out what metrics are best used. I don't use indicators. Moving averages some and vwap but that all. I think: type of pattern, price of trade, time of day, how many exits, share size, did it hit target or stop loss |
|
This is a great idea |
|
Totally down to try and test it. This is one step in my trading journey that I still lack to incorporate. I don’t know why. |
|
|
|
My specialty is digital experiences, too. Might be able to help. |
|
I recently tried to start journalling my trades and you’re right it does take a lot of effort. So I decided to take a stab at one of the trading journal software’s already out there, I didn’t like them. Let me know some of your plans and I would love to try it. |
|
I’m happy to learn more about how this app could help people with their everyday trading challenges. If you are open to exchange just send me a message and we could talk about it. |
|
Would you be open for an exchange to better understand your needs and expectations? |
|
This looks like a newbie/general question that we've covered in our [resources](https://www.reddit.com/r/Trading/wiki/index) - Have a look at the contents listed, it's updated weekly! |
|
|
|
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Trading) if you have any questions or concerns.* |
|
I’m happy to learn more about how this app could help people with their everyday trading challenges. If you are open to exchange just send me a message and we could talk about it. |
|
I’m happy to learn more about how this app could help people with their everyday trading challenges. If you are open to exchange just send me a message and we could talk about it. |
|
I tried trader sync but it was too much complexity for me. Talking about pricing - what do you think would be an acceptable price level? |
|
I call them confluences. The app would provide all kinds of confluences and you can also create your own. I personally use Elliot Wave counts combined with Fibonacci levels, TDI divergence and StochRSI resets. If you want to learn more about the project let me know. |
|
hmm wdym? |
|
TraderSync help videos are amazing and straight to the point. In comparison to its peers, TraderSync is the easiest to use imo. |
|
|
|
When it comes to cost, I’m in favor of one bill, if it costs two bills it’s expensive. I’m also in favor of one tier instead of multiple tier plans. |
|
>wdym |
|
|
|
I want to talk with as much potential users (via Zoom, Hangout etc.) to learn more the expectations. Interested? |
|
Yes please let me know I would be interested as ive never do a trading journal before and would like an app to help me out. Beginner friendly"
|
|
3 Biggest Mistakes I Made When I Was Learning Trading,55,https://www.reddit.com/r/Trading/comments/g3od6d/3_biggest_mistakes_i_made_when_i_was_learning/,"Thank you for sharing your experience. |
|
|
|
My approach right now is to simply start. (I'm going day trading in forex) |
|
A demo account to try out new systems is good, but I think with real money, you act differently. (your point with the psychology, you really get to know yourself) the demo is good, when act the same with real money, otherwise it would only be like playing around. |
|
|
|
I'm starting with as less money as possible (50€ with my broker works, to make 2-3 trades at the same time) and trade lots as low as possible (allowing me to place stop loss at ~50¢). |
|
My goal is to make profits in ¢ range and try to make it consistent. Feels good, even if it's only +20¢. 😊 |
|
(keep in mind my training at the time is more like scalping. For real day and swing trading to stay in those price ranges would be difficult.) |
|
|
|
One advice from me: |
|
Don't be too greedy and don't simply top up your balance when you lose money. This would be more like gambling, hoping the next trade will even out your losing trades. Stay humble. |
|
Keep a diary for good and bad trades. What made you decide to trade this one and why ended it being a good /bad choice. |
|
Learn from yourself and from all the sources on the internet. |
|
PSYCHOLOGY! PSYCHOLOGY! PSYCHOLOGY! |
|
I completely agree with those points, especially too much information. It’s a complete shitshow when starting out since at that stage you don’t know what you don’t know so you’re trying to absorb as much information as possible but at the same times there’s just an abundance of conflicting information so you end up learning a lot of useless stuff. Then further down the line as you progress you start to realise what works and what doesn’t in line with your personality. |
|
I think you must add money management. Nobody talks about it. |
|
Wow, I appreciate your comment mate, you're actually saying lots of misknown things that are really important, like being humble. |
|
When ego kicks in, you start losing your mind and making mistakes that may cost your gains. |
|
Actually it's easier in demo because your loss are fake, and the psychology involved when you lose money is not as strong as with real money. Pretty same with gains too. |
|
|
|
But in this way, you can test your strategy and make sure that if you follow it, it will be profitable long term even if you lose in the short term. |
|
What's your strategy based on? |
|
Ahah you can tell, when you start you just want the perfect strategy that works every time so you try the most complex indicators ever. But that's not how things work, losing is part of the game and you more have to learn how to lose and learn how to win but both are equally important to manage, and too much information just leads to never positioning because there is too much conflicts. |
|
Yeah exactly, I've put that in the ""You have to survive first"" as the true money management comes later. But that's crazy how there is no resource on money management online, which misleads people. |
|
They think in trading you have to be right most of the time, but you can be right less than half of the time and still make money, you just need proper money management. |
|
If you have a 40% win trade and when you win, you win 100$, but when you lose you lose only 10$. With 10 trade you win 400$ and lose 60$ which make a 360$ gain even being wrong most of the time |
|
The psychological factor really is huge. |
|
In the demo I made easy +50% just with a couple of trades, BUT ONLY because I waited until it went positive again and I had no stop loss... You can't obviously do that with real money, seeing your account being halved and hoping it will turn the other way again is pure gambling. |
|
|
|
I think what I do is so called ""price action trading"". Completely Chart analysis. Trying to find the right entrance point for a trade. |
|
But I'm still in the very beginning and learning! I somehow always end up being just between the best and worst entrance point, resulting in plus minus zero profit. |
|
Well, conserving your money is also a skill, considering that ~75%of day traders lose money, I guess. Still, it's very interesting and there is so much to learn. |
|
|
|
From everyone, who is profitable, I heard they first took several months and years of learning. How long did you take, becoming consistent? |
|
Took me a long 1.5 years to finally realise this hahah. Wish I’d learnt it quicker, was a lot of wasted late nights researching irrelevant shit. |
|
It's your best ally in trading with the psychology. The first rule is, don't loss your money, is your tool to earn it. All the people want to earn huge amounts of money in a bit, and literally, gamble. With a correct money management you can earn money, even with a bad system. It's easy to recover your account from little losses, not risking huge % of your account in a single trade. You must interiorize this. Thanks for sharing 😃😃😃. |
|
I passed more than 1 year studying Eliott Waves to finally throw it in the bin, I understand the pain ^^ |
|
Why don't you like Elliot waves? |
|
I've tried it a lot, studying it for month and month, I was really believing in it and took me a lot of time before dropping that idea I was so attached to. But the reason I dropped it, is because, with Eliott, you never know if you are in the right direction or not. You can say whatever you want with Eliott. I noticed that ABC really sucks and you never know if you are in a sub-wave, or not. You can notice a really really clean ABC pattern, with the right ratio, everything is perfect, but no, it still go down and your count is useless. |
|
I've found support and resistance 100x time more useful, with less time and less effort and more certainty. |
|
With S/R, you just look at where they are and see where the market is more likely to go based on your indicators. And it doesn't matter if you think it's going to go down or not, you just follow the trend."
|
|
Free paper trading app with real time stocks/options,52,https://www.reddit.com/r/Trading/comments/jzn34h/free_paper_trading_app_with_real_time/,"This is dope! |
|
[removed] |
|
Looks cool, I'll check it. |
|
Nice! Are you experienced programmer? Great job for a few weeks! I wanted to so something similar on crypto. Is it tough to manage the data collection or are the providers solid? |
|
|
|
Currently using [cleo.one](https://cleo.one) and it's great for running strategies on paper trading, but no leverage yet. |
|
How does the calculations for options margin work? I sold a SNOW Dec11 420c, on TOS it says this takes up ~$3,600 in buying power requirement. On the app, it doesn't seem to say. |
|
|
|
Additionally, is there a way to submit one ticket orders for rolling? |
|
[deleted] |
|
I tried this today, and this really gave me the “lightbulb” moment how the calls, puts and straddle/strangle and spreads really work. I really like this, I had been searching for an app like this with no luck. But I came across this on Reddit, I bookmarked this feat on my Home Screen. Probably could be updated more on tickers but a great learning platform! |
|
Bookmarked, looks awesome! |
|
doesn't really find small caps. tried searching for KXIN, DPW, ticker not found. nice app tho. |
|
Thank you : ) if you have any feedback (good or bad) I'd love to hear it, I'm always trying to make it better |
|
Looks cool, but kind of a let down that you need to provide your own data : ( |
|
Thanks! |
|
Yep, I'm a professional developer, I could add crypto without too much trouble now that I think about it; maybe I could get that on the backlog! |
|
|
|
I haven't seen that site, looks interesting though. How's the fidelity between typed instructions and algo? I imagine people might have a reckoning when they realize that half the trading advice they've seen on YouTube isn't even logically coherent 😂 |
|
So in regards to margin, there's not a lot in place to prevent you from introducing too much risk to your portfolio. I've been meaning to make some progress on it but it's a surprisingly complicated problem. Hopefully I'll get something closer to reality working soon. |
|
|
|
There's no one way ticket for rolling either, that's a good idea though, I can add it to the backlog. |
|
For sure, good luck! |
|
That really makes my day that this helped you out : ) |
|
|
|
Agreed on the tickers thing, I'm looking for a way to programmatically keep my list up to date, but unfortunately my data provider doesn't give an exhaustive list and I'm currently in the middle of releasing another feature that's taking forever right now (group contests). Hopefully I can get the symbols figured out sooner than later, and thanks so much for the kind words! |
|
Thanks for checking it out! |
|
Yep, I have a ticket out to the data provider to get a full list of symbols, right now they only offer a search function and an ETB (easy to buy) list. |
|
|
|
I can add those two manually but I'm trying to find a programmatic way to get a full listing of symbols right now, sorry about that : ( |
|
It's pretty good. It's definitely sobering! When I was starting a few years ago it really helped me to test any idea that I get. In crypto people just don't do it so it makes it an edge. I'm so much more confident now. |
|
It seemed that big accounts on Twitter or here knew some secret or were working on their craft for years! |
|
Now you can see sentiment shift with MACD and it hurts to watch. |
|
Sounds great. Also, I think you should check out Tradervue. Might be a source of inspiration for more features. They are a freemium trade tracking service. |
|
the app is great tho. if u do manage to find a way to get a full list of tickers please provide us with an update. i would definetely be a frequent user. cheers! |
|
Thanks, I'll check it out! |
|
Thanks for checking it out, I'll try to get that resolved soon!"
|
|
"""Please be careful with traders who run private groups, do phone consultations, and sell courses. Most successful traders are too busy trading, they don't have time to teach. It would be a distraction.Lol not true at all most traders trade for few hours a day at most. Unless their major prop traders their gonna have enough time to teach. Most people who teach trading aren't trying to scam anyone their simply trying to make a secondary income while helping others learn. No shame in that. |
|
Then what’s a student to do? |
|
Very true. Some, like TradeWithTechs, optional alpha and tasty trade are real and legit. |
|
Not really true, some of us professionals have spare time to waste. A lot of trading is just dull waiting time for trades to complete or trades to be executed. It's mostly passive and boring. Depending on ones trading style of course. |
|
From where could I learn? |
|
Yeah i mean its pretty shortsighted with all due respect😃. I have learned a lot! from the pro traders like warrior and stormtraders. These guys are just like us in the fire everyday. They have achieved their succes and want to give back. And why not build a model around it. I mean yeah ross is very expensive and a great marketeer but he has too because its going so great. They could easily trade the first two hours and chill by the pool the rest of the day, but choose to do more. I dont see anything wrong with that 😊 i just started following stormtraders. And this guy is really genuine and transparent. Probably helps alot of people. [stormtraders](https://www.youtube.com/channel/UC0A32c0Ll7dMLjqqaYk7hlw) |
|
I work on a desk and it’s true that we position trade and sometimes don’t trade for days, but in between that there is an awful lot of meetings, calls, idea generation, risk management day to day etc, there’s no way I could teach someone. Forget it |
|
learn and discuss with other traders, imo. |
|
|
|
I feel some lessons can only be experienced, not taught. |
|
Take a few years losing money and learning to trade. Its more than just books and courses. The psychological, sound planning, risk tolerance, and discipline is something that only comes with experience. |
|
Exactly lol find a reputable teacher that doesn't teach ""1 strategy"". Also books on trading strategies, Monet/risk management and trading psychology is great. But the real magic happens with live in market experience. |
|
[deleted] |
|
Hey, goldenboypwner, just a quick heads-up: |
|
**alot** is actually spelled **a lot**. You can remember it by **it is one lot, 'a lot'**. |
|
Have a nice day! |
|
|
|
^^^^The ^^^^parent ^^^^commenter ^^^^can ^^^^reply ^^^^with ^^^^'delete' ^^^^to ^^^^delete ^^^^this ^^^^comment. |
|
He gives lessons? |
|
Sometimes 1 strategy is all u need |
|
3 I know"
|
|
"(SEEKING FEEDBACK) I spent the last year building a ""social Bloomberg terminal"" that lets traders chat & watch the market in real-time",55,https://www.reddit.com/r/Trading/comments/ud7rxr/seeking_feedback_i_spent_the_last_year_building_a/,"What is it called? Can you link it? |
|
Awesome idea! Just signed up |
|
|
|
I haven’t dug into your site yet, but off the top of my head, there’s another platform that aims to do something similar - TradeArcade.tv. They seem more focused on streaming, but have similar features. May be worth checking out |
|
I will check it out, I enjoy the sounds of it. I've often thought trading lacks any real interactive community tools and could use something like this. |
|
|
|
I'd be careful about how you word it though. My understanding is that the SEC does not like individual traders ""teaming up"" against Wall Street, as they can sometimes consider it as market manipulation depending on how it's framed. |
|
Looks pretty cool. Any thoughts of adding futures/commodities to the site? |
|
Your post showed up in my notifications. I really like the idea. It seems like a good discord group would meet a similar goal, but the integration with the charts is an enhancement from discord. (I don't actually know a good trading discord). |
|
|
|
The 5 day chart would be nice. |
|
|
|
I think the most obvious issue is, I entered TSLA and all the discussion and ""live chat"" is 4 weeks old. How do you plan to find an audence and do you plan on charging. |
|
This is a juicy grape my friend. Very good idea! |
|
Very nice. I like the twitch concept. What technology stack did you and your friends use to build it? |
|
Probably resource intensive, however rather than selecting TSLA and having it open in the same window, I would want it to open in a floating module or frame, and for the ability to have several of those open at any time, each for a different asset. Most of us manage to juggle several balls at a time when trading. Thank you for the invite. |
|
Most money i ever made is when not looking at charts and not talking to anyone abt it. |
|
|
|
However nice efforts |
|
Stocktwits? |
|
I just joined really like it so far |
|
I don't disagree, but you can't really control the direction the community evolves in. Will definitely check it out. |
|
prophet.global |
|
Thanks for the feedback & sign up :) We're making updates / improvements weekly so make sure to let us know how we can improve / check back in! |
|
|
|
Thanks for sharing, will def take a look. They seem focused on streaming as you say (kind of like Twitch, except it is watching others trade). |
|
Thank you for your feedback! And yes that makes sense. We definitely are not meant for / promote any pump and dump schemes, or even facilitate any trades at all. Our goal is simply to enable a real-time communication channel / community building tools for individual stocks / cryptos. Either way, it's a valid concern and I appreciate it much! |
|
|
|
Plz share w/ your friends if you think they'd enjoy :) |
|
Thanks for checking it out! Adding other asset classes is something we’d like to do in the future (I.e. options, commodities). For the time being, given the cost of the data, we’re starting with equities / ETFs and crypto :) |
|
|
|
Would love to hear what kind of additional features you guys would be interested in seeing! |
|
Thank you! Pretty standard Java for backend & then react / node for frontend :) |
|
Thanks for your feedback! We have been thinking about that use case, and are experimenting with a few ways to achieve that. I'll keep you posted on it, and thanks again for trying this out! |
|
Haha, I don’t see stocktwits facilitating much collaboration :/ other than whose bots spam the fastest xD |
|
|
|
Would appreciate if you checked this out tho :) |
|
Woot!!! Thanks for the kind feedback :) the value today is just being able to check prices, news, and some lists in real time, but as more people join hopefully people stay for the social interactions / collaborations. Would appreciate if you could share with friends who you think might like it too :) |
|
Fair enough :)"
|
|
|
