Stock Market

Handymans342

Anyone ever dable in oil futures?

LaRea

So glad I don't have to follow this thread.  By subbing this work out to professionals, I can keep my focus where it belongs:  losing money on the boat.  

Dream_Inn

Handymans342 said:

Anyone ever dable in oil futures?

I thought about it last year when it went negative.  Honestly I wasn't sure how to do it, but knew it'd obviously go up from there.  I know you can but the next months, but how does it work when you get there?

Dream_Inn

LaRea said:

So glad I don't have to follow this thread.  By subbing this work out to professionals, I can keep my focus where it belongs:  losing money on the boat.  

I'd actually love to do that job of professionals.  It and boating are the two hobbies that can make me retire early.  Both finance and boats are about the only two things I enjoy reading about.

J3ff

LaRea said:

So glad I don't have to follow this thread.  By subbing this work out to professionals, I can keep my focus where it belongs:  losing money on the boat.  

Why not do what I do, lose money on your boat, your jetski and in gamestop/amc. It feels great man. 

Even better is when the car you own that only has 12k miles on it "needs new tires" and the dealer submits this as its recommendation. 



At times today I was thinking about what it would be like to just sell everything I own and buy a Nissan Versa. 

Aqua_Aura

@J3ff you should look into starting to ride a bike for the land and use inflatables on the water. Maintenance cost would decrease drastically. 

J3ff

Aqua_Aura said:

@J3ff you should look into starting to ride a bike for the land and use inflatables on the water. Maintenance cost would decrease drastically. 

A moped or electric bike did cross my mind earlier. I asked the dealer how he has any explanation for this and all he could tell me is "I've never seen this on this car before" 

I keep hearing that - I'm starting to think a black cloud follows me around. The car is front wheel drive, so no, I haven't been sitting there spinning the tires at red lights. 

Aqua_Aura

Those are 235/40 19 Michelin tires? The prices they are giving you seem to be very high, you should use a different brand and save some money, and why are they recommending an alignment on a car with only 12k miles, should be a warranty issue at this point. 

I have about the same size on 18 wheels and I think I paid about $600 for all 4 and they are not generic tires. 

J3ff

Aqua_Aura said:

Those are 235/40 19 Michelin tires? The prices they are giving you seem to be very high, you should use a different brand and save some money, and why are they recommending an alignment on a car with only 12k miles, should be a warranty issue at this point. 

I have about the same size on 18 wheels and I think I paid about $600 for all 4 and they are not generic tires. 

Yes, it's more than I paid for my lexus is350 fsport tires and that car had staggered tires that couldn't be rotated. Which is why I told the HONDA service rep to perform the recall and then not touch the car again till I got there. He claims I must have hit a speed bump or something of that nature. At that point I didn't see the point of arguing with an idiot. 

yes Shawn, I have the phone number, going to call in the morning. However they are going to try and blame it on alignment I'd imagine. How does no one understand this car has 12k miles on it and I've never hit a pot hole in it... are there even pot holes in FL? I've never seen one. Grew up dodging them in the North East. 

Handymans342

J3ff said:

LaRea said:

So glad I don't have to follow this thread.  By subbing this work out to professionals, I can keep my focus where it belongs:  losing money on the boat.  

Why not do what I do, lose money on your boat, your jetski and in gamestop/amc. It feels great man. 

Even better is when the car you own that only has 12k miles on it "needs new tires" and the dealer submits this as its recommendation. 



At times today I was thinking about what it would be like to just sell everything I own and buy a Nissan Versa. 

Dont feel bad as I lost 6 tires on my truck between 5K and 8K miles and I got reimbursed by the manufacturer. So go on their website and file a claim ASAP. You will need pics, and dealer docs. 

earl1z19

The great thing about this site is how a topic on a thread doesn't necessarily reflect the information in the thread. Stocks - Auto Maintenance   

Handymans342

earl1z19 said:

The great thing about this site is how a topic on a thread doesn't necessarily reflect the information in the thread. Stocks - Auto Maintenance   

Read between the lines and figure out what stocks not to buy based on all of our problems LOL

aero3113

earl1z19 said:

The great thing about this site is how a topic on a thread doesn't necessarily reflect the information in the thread. Stocks - Auto Maintenance   

Like we we’re sitting around drinking some beers together 🍻.

Aqua_Aura

earl1z19 said:

The great thing about this site is how a topic on a thread doesn't necessarily reflect the information in the thread. Stocks - Auto Maintenance   

🤣 As I made my comment I thought....this is really off topic.

earl1z19

Aqua_Aura said:

earl1z19 said:

The great thing about this site is how a topic on a thread doesn't necessarily reflect the information in the thread. Stocks - Auto Maintenance   

🤣 As I made my comment I thought....this is really off topic.

I am not sure there really is anything off topic.

MarkB

Dream_Inn said:

MarkB said:... I heard sometime in March there's a correction expected.

I've read the same thing.  Expecting a 10-15% correction, which isn't a lot.  Heck, it might be just the gains from this year at the way it's going.  I'm trying to patiently wait a bit to buy in at a correction.  Right now I've just been putting back in a few percent at the end of the larger down days. 

I'm thinking more like a 30% correction ... there's some stupid investment money going into stocks right now, and it won't take much to setup a panic sell.

Dream_Inn

Definitely not off topic.  Like the thought as us sitting around chatting over a few beers.

I'll say, the best deal I get on tires is at Sam's Club.  I can usually get 80 or 120 bucks off a set of 4 and it's like 15 bucks a tire for the install, valve stem, free rotation, warranty and all the other crap that goes with it.  I can usually get Michelin or Goodyear installed and out the door for under 100 bucks a tire there.

So, back to my stocks.  I did buy into the CELZ and a tad more in CCIV today.  I really feel like it's big gambling, but the CELZ may do well long term.  They have some IND's that are due in the next day or two from the FDA that may rocket the stock.

Handymans342

I bought some good weed today. (Stocks) I mean LOL

boatman37

I have been daytrading for about 7 years or so on and off. Started around 2013 or 2014 and blew out my account. Started back again about 3 years ago and doing pretty good and consistent now. On pace for about 75-80% ROI each year. It wasn't an easy road to get here and it cost me almost as much as my B.S. degree did but I'm consistently profitable now. I don't hold long term. Mostly day trades and a few that I hold for anywhere from 2 days to a month but no longer than that usually. But I only trade options and they expire. I usually only buy 2 months out at the most and often buy the same weeks expiration.

Today was a rough day. Lost $95 in my small account and made $225 in my bigger account.

I got 3 of my 4 kids trading now too. They just started not too long ago but at least aren't losing money. I think it helps that I have shown them all the things not to do and all the things that don't work.

I ONLY trade charts, not fundamentals. As long as the chart looks good and the spreads and volume are good I don't care what the company is or does but I typically trade tech like AAPL, AMZN, FB, ROKU, NVDA, NFLX, etc.

My plan is to 'retire' in a few years and live off of my trading.

I have also traded futures in the past. I have traded /ES (S&P 500 futures), /NQ (Nasdaq futures), /CL (oil futures), and /GC (gold futures). Haven't traded them in awhile and NEVER held them overnight.

For those that trade charts I have tried about every system there is but I never got consistent until I started learning The Strat about a year ago. I do not use any indicators at all. Only price action and multiple timeframe continuity. I use the weekly, daily, 60, 30, 15, and 5 minute charts to look for all timeframes to be either red or green for an entry. Rob Smith created The Strat. I have no affiliation other than he taught me the system so doesn't matter to me if anyone uses it or not but it is what worked for me. It uses a numbering system for the candles.

For longer term trades with this system I'd probably look at a 5 year, 3 years, 1 year, 6 month, 3 month, and 1 month chart for continuity. Maybe a quarterly chart in there. And maybe use a daily chart as my trigger to enter. Currently I only use the 5 minute as my trigger for fine tuning my entry.

I have been helping and teaching people on Twitter and on my youtube. I'm more than happy to help or share tips if anyone is interested.

Here are a few shots of my setup:

Here is a shot of my setup but I have added a 4th monitor since this was taken

boatman37

Not sure what happened to my post. Tried adding another pic and lost everything...ugh.

Anyway, I have been daytrading for about 7 years or so. On pace now for about a 75% ROI this year (yeah I know it's early but no reason I can't keep it up). I only trade options and the longest I hold for is maybe 3 or 4 weeks but probably 90% of my trades are day trades.

I do not look at fundamentals at all and only trade charts. I try to avoid news events. I usually trade tech like AAPL, NVDA, FB, ROKU, TSLA, AMZN, etc.

For the chart traders here, I do not use any indicators at all, only price action and timeframe continuity. I learned a system called The Strat by Rob Smith. He is on Twitter, Facebook, and youtube if you are interested in his system. He uses a numbered candle system.

Here are some pics of my setup.

randy56

Wow ya da man. Interesting concept, only holding 3-4 weeks. Don't read fundamentals, only on charts. How big are those screens? Is this your full time occupation? 
The stocks your currently trading are expensive, I'm surprised they have that much rise and fall in a short time frame. I need to study. You do not have any long term play's all?  

We have an expert in the house guy's and gals. What's your take on a big market correction soon. Or does it matter to you at your level of trading.

I have 4 to 500 more questions but I'll calm down.

J3ff

Nice setup! My dream is to one day stop working and just trade stocks a few days a week from the boat!

raybo3

@boat I restored your post.

Dream_Inn

@boatman37
Day trading is definitely something that would take some time to learn.  If you have some links to your youtube, please post them.  I'd love to learn a little on it.  Not sure I'd have the time right now to do anything, but I find anything dealing with finance very interesting.

I've been watching and reading about the market and finance for a very long time.  Got my first book on finance and the stock market when I was a teenager some 30+ years ago.  Funny thing is, I never invested in it with sideline cash, only in my 401k and things like ROTH and 529, but even that was mostly mutual funds or ETFs.  I've picked stocks for many years and watched them, but never felt I had enough money on the side to take the chance.  Finally over the past few months I've really started investing, mostly for long term though.  Although I think some of my picks have done great short term and I should've taken the profits.  My other thing is that I'm already taxed to death, so I'd like to keep things lower with long term capital gains.  

Definitely feel free to give us a few pointers or something you are watching.  I'm sure I'm not the only one that would find it interesting.

Oh, one question.  I inherited some stuff and I believe they were transferred "in-kind" (that's what I requested).  But, it has the date it has on it as original is the date it was transferred not the date the original person bought them.  I was hoping to get the capital gains on it and get dividends on it even though ex-divi date was before my original date, but was still in the date of the person that I inherited from.  (make sense?)  I guess I'll find out in the next couple months, but was just wondering.  

Also, anyone know much about these stocks and how the tax-free part works?
EAFAX, FOHQX, & FOITX

They were also in the transfer and wondering if they are worth keeping.

Handymans342

@Dream_Inn your basis on the inherited stocks are the date of transfer

randy56

Recently learned you need two E-trade accounts. Set up one with long term stocks in IRA account. That way you don't get a 1099 every year. Just when you make a draw.

Dream_Inn

Handymans342 said:

@Dream_Inn your basis on the inherited stocks are the date of transfer

Thanks Handy, that is what I was thinking happened.  It'd have been nice though to get the dividends since the stock was still being held.

randy56 said:

Recently learned you need two E-trade accounts. Set up one with long term stocks in IRA account. That way you don't get a 1099 every year. Just when you make a draw.

Randy, it won't work well for me.  I use my IRA account just a placeholder to do the backdoor ROTH IRA each year.  If I have $ in an IRA, then that would count towards part of my conversion each year.

earl1z19

I kinda liked the discussion about cupped tires, this is already over my head. I do realize that I should know all of this information since it would only benefit me...

Dream_Inn

earl1z19 said:

I kinda liked the discussion about cupped tires, this is already over my head. I do realize that I should know all of this information since it would only benefit me...

Feel free to question more on anything said here.  It's how we all learn.  I definitely don't know even half of this stuff.  The shorts and puts and options for all the day time trading, well, I'm trying to learn it enough to understand, but maybe not risk my money any time soon.  I do put in limits on my buys and sells.  All that does is it allows you to wait on a certain price to either buy or sell for a certain duration.

boatman37

Long post but informative!

Glad you guys like my setup. My monitors are all 23". Looking to upgrade to 4 27" monitors soon but not really in a hurry.

The stocks I trade are expensive but I trade options, not the underlying stock. Options are called calls and puts. If you think a stock will go up you buy a call, if you think it will go down you buy a put. Yes, I make money when a stock drops too.

Think of an option as a coupon for a gallon of milk. You are trading the coupon, not the milk. If a gallon of milk costs $4 today but you have a coupon that says you can buy it at $3 next Friday (at expiration) then that coupon is basically worth $1. There are many variables that calculate the value of the call option (called premium). But to simplify it I will just grab random numbers. If that gallon of milk goes up to $5 tomorrow now that coupon might be worth $1.50. So I buy the 'coupon' for $1 then sell it tomorrow for $1.50.  A call gives you the right but not the obligation to buy 100 shares of that stock at the strike price of the option. In the milk example it was $3. So if a gallon of milk goes to $7 by next Friday then I have the right to buy 100 gallons at $3/gallon. I never hold until expiration so I don't worry about that end of it.

Today I bought tomorrows expiration TSLA puts so I was looking for it to drop. I paid 6.85 each and bought 3 contracts (coupons). Because the option is for 100 shares then I actually paid $685 each (don't ask me why or how they came up with that...lol). I bought them at 1:46 EST today. I sold 1 at 2:01 for 7.20, 1 at 2:03 for 7.65 and 1 at 2:16 for 6.90. Total for that trade I made about $120 in about 30 minutes.

I do not really trade full-time yet. I have a regular job but work from home so have 8 monitors on my desk. 3 for work and 5 for trading.

If you are interested in learning how then I would highly suggest learning The Strat. If you are interested in having trades alerted for you then I would sign up for EFO Edge. It costs about $100/month but you can make that back in a day or two.

I learned a good saying years ago, a good trader thinks about how much they can make. A great trader thinks about how much they can lose. Greed kills! Don't be afraid to stop out for a loss. It happens and you need to be disciplined with it. Today I made $35 in my small account but lost $219 in my bigger account. It happens. My big loser was AMZN puts where I lost $241. I'm not upset about it. If you get upset about it then your position size was too big. Scale back until you are comfortable. I am confident in what I do and what I know and am still green for the week in both accounts and know why I lost on that trade so it is a fixable issue.

If you want to learn The Strat look for @robintheblack on twitter and youtube. All of his content is free. Look for @CyberDog2 and @TradeSniperSara. They are both experienced and are great teachers of The Strat. Look for OptionizerSS on youtube for my videos. I started The Strat about March 2020 so any videos before that won't talk about The Strat. The thing I like about The Strat is in all other trading there is alot of subjectivity. The Strat is either an entry or or isn't. I lost on AMZN today because I didn't have full timeframe continuity but went for it anyway. That made it a higher risk entry. Even the ones that are perfect setups can still be a losing trade and you have to accept that and honor your stop.

If you want to practice then set up a papertrade account with thinkorswim. By default it gives you a 20 minute delay but if you call them they will set it to real time. You can even set up a real account with no money in it. It defaults to a $100,000 account but that can be changed too. My one step-son just started learning about a month ago and is still paper trading. It isn't 100% accurate every time but is about as close as you can get. My daughter and my other step-son are both trading real money.

I'm gonna give full disclosure here...day trading is very hard. Hardest thing I have ever done. It's easier now that I'm comfortable and profitable now but it wasn't easy. I'm on another forum and a guy asked me for advice and he signed up for EFO Edge and made about $300 in his first 2 days last week.

Now for full disclosure on my trading... I was starting to get to being profitable when I started learning The Strat and then I went back to losing money while learning it. I have been making money the last 4 or 5 months now consistently. My one account only has about $29,000 in it. In the last 6 months that account is up about $6000 and I trade very conservatively. I rarely go in any trade for more than $1000 in any 1 trade and never more than about $5000 of my account in all trades combined so that is very conservative. If I were more aggressive I could easily be up $10,000-15,000. In 2021 I'm up $1958 in that account and that is with fees included. I'm being very conservative until I get my confidence up a little more and I'm being cautious of a a pullback.

Because I trade such short timeframes I don't worry about pullbacks. I can actually make money faster when the market drops by buying puts. The market typically drops 3x faster than it goes up. This is because fear is a stronger emotion than greed. Additionally most traders use stops and when those are triggered it accelerates the selling. The Strat leverages that to your advantage. Rob Smith (creator of The Strat) says we are still bullish until you get a 2 down month. My favorite setup is a 3-1. That is an ouside candle followed by an inside candle. Inside candles are consolidation and energy is stored waiting for a breakout either way. Many chart traders use moving averages and oscillators and they are lagging so The Strat users get in before those guys do.

I use thinkorswim by TD Ameritrade and that is what is shown in my pictures.

Anymore questions just ask. And if I missed any ask again...lol