Stock Market

Aqua_Aura

I think the most important take from this as you said is. "Day trading is very hard."

I have heard many times in my life people saying they would love to do "blank"  and day trade. People need to understand this is very difficult, you need to educate yourself and this isn't a set it and forget it thing. You wanna quit your job and day trade, well guess what your new job is day trading not go sailing and watch your bank account magically grow. 


@boatman37 gave very informative information and maybe this will trigger some to take that step and do some investing cause it can help build wealth not just a paycheck. Best decision I have made in my life was to start thinking of creating wealth and not just waiting for my paycheck. It may start slow but once that ball gets rolling and you are disciplined you can keep that money growing, make the money your employee and get it out there working for you. 


I feel like I need to add a disclosure. I do have investment accounts but I trade for long term and my investment accounts are a small portion of my income. Didn't want to make it sound like I was some pro trader.

boatman37

Good post^. I wouldn't consider myself a 'pro' trader either but I am at a point where my accounts are snowballing. Discipline is the hardest part of trading. Anyone can learn to read a chart. I can teach you to read a chart in a few hours but controlling your emotions is the hard part.

My typical win is about 25% or so but every once in awhile hit a 50% winner and occasionally a 100% winner. Tomorrow will be a good day for 100% winners if you trade tomorrows expiration. Problem is if you get it wrong you can lose quite a bit pretty fast. When I trade AMZN or TSLA I usually only look for a quick 3% or so. A typical AMZN option costs about $3000 for one contract (I paid $9300 for 1 contract last week). I usually only look for a quick $100-150 on those. I can hit those at about a 95% win rate but my losers are closer to $250 or so so I need about 60-70% win rate just to break even on those 2.

My typical trade costs me about $500 to enter and I look for about a $100 win (20%).

I run a scan on Sunday nights using thinkorswim looking for an inside candle on the weekly or daily chart. At the start of a new month I look for an inside candle on a monthly chart too. So on a weekly chart my trigger is the high of the inside candle for my entry. I then drop to a daily chart and look for the next previous high for my first target, next highest previous high for target 2, etc. Now where I need to work on this is many traders that are short will use these previous highs as a stop. If that stop is triggered then they are forced to buy at a higher price to cover their position, driving prices even higher. I sell too early many times and need to work on letting these run higher. You can set alerts in thinkorswim at all of these price levels so I don't necessarily have to stare at my charts all day. You get the alerts through text and email.

There is more to it in fine tuning an entry but that is something each trader will have to figure out. If I enter on a break of the previous weeks high but the 60 minute chart has been running hard to get it there then there is a good chance there will be a pullback. If I enter too soon then my option pulls back 30% then I may stop out before it decides to make its move. I usually look at a shorter timeframe to fine tune my entry.

Sounds like I need to make another youtube video explaining this...lol.

EDIT: and another thing, chasing things like GME will blow your account fast. I avoided it until late last week when it ran again. The only reason I did was because 1) I was having a really good week and was ok with losing most of what I paid for my call and 2) the brokers had just announced they lifted all trading restrictions on it. I made a quick $450 or so on that. 99% of the time I avoid these types of trades. Swing for the fences and you will strike out. Base hits will win you the game. I also avoid earnings. A few guys I trade with bought KO calls the other day for earnings. They had a good earnings report and the stock went up but the calls went down. Happens alot. Options premiums are calculated partially by using IV (implied volatility). IV gets very high when there is an event coming up and it deflates very quick after the event. A few guys lost at least 70% on KO calls. That's why I had to pay $9300 for AMZN calls last week. They are typically about $4500 for the ones I bought but since it was a day or so before earnings IV was jacked up. Thus why I try to never hold through earnings. If you play it right this can work in your favor though. AAPL is notorious for a pre-earnings run up so people buy calls about 3 weeks before earnings then ride the wave up (being boosted by IV) then sell a day or 2 before earnings.

Handymans342

@boatman37 if the oil future traders were forced to take delivery of their futures we wouldn’t have such volital pricing. True?

randy56

@boatman37 Thanks so much for taking the time to explain Real day trading. Excellent! That does not scare me, but not something I'm not  ready for, or maybe never, but  Interesting at this time. Like Aqua said to re cap. It's hard, you need to educate yourself, paper trade first, learn from your mistakes as well as others, greed kills, 

My interest is in small company's  with growth potential studying AI type stock's mostly.
Realize that there is money to be made in other sectors, Al seems to be our future. 

 the wife has been complaining of the amount of time I have my face in the screen already.
   

Dream_Inn

@boatman37
VERY interesting posts you have.  I understand about 75% of it.  What does KO stand for?  (sorry, I just keep thinking of my most conservative stock Coke! LOL!)  I too have been watching AMZN, but from the other side of the bet.  I've get a handful of shares at $3100 and may buy more if it goes below $3200.  I'm up about 8% since Christmas, which is really great for the amount I have in there and my first time playing with the stocks this much.  

Do you do any shorts?  Or do you typically stick with puts so you have the option to buy the stock?  I'm not real fond of all the shorts as it really seems to manipulate things.  

Handymans342

@Dream_Inn maybe you will make enough to pay cash for a newer Fleming

Dream_Inn

Handymans342 said:

@Dream_Inn maybe you will make enough to pay cash for a newer Fleming

I'm not so sure about "newer".  But right now I'm working on the fuel and maintenance for an older one. 

randy56

Dream beware of cciv, just read some bad stuff about it.

Dream_Inn

randy56 said:

Dream beware of cciv, just read some bad stuff about it.

Thanks for the warning.  Do you have a link to it?  I don't have a whole lot in it anyhow, but it was a chance.  For some reason I keep tossing in more in CELZ each time it drops a little, then goes back up.  Kind of addicting.

Aqua_Aura

My ILMN stock went up 20% today. Owned that for 3 years now. It is so tempting to add more money to my trading account to buy some more stuff but I have to always tell myself not to. Need to keep some cash on hand. 

randy56

Dream telling you how i do my due diligence. First I read about the company on E-trade, News ect. If iI like what i see then go to I-hub. I have account there. Type in symbol. Then it will take you to a sort of chat room of that stock. There are guy's and gal's like you and me discussing that stock. they are on top of it. I read what others are saying. But try and filter in your mind the pumpers and dumpers. Here is what I saw on celz for example'

home Office

from A poster

CELZ: MASSIVE_ROUND_OF_NEW_TOXIC_NOTES_START_CONVERTING_NOW !!

Read their last filed SEC 10-Q joke of a filing - their $20K or whatever total cash against a $MILLION or more in just accounts payable and "current" debts owed.

DEATH SPIRAL TOXIC NOTES INCOMING - BUYERS BEWARE !!!


My local coin-op car wash dude keeps more cash on-hand than this so called "company", aka 4 dudes in a dump of a house in AZ, serial OTC cons all of um.

CELZ exists as a SHARE PRINTING MILL and OTC DILUTION MACHINE - they only exist to ink/sign gutter grade DEATH SPIRAL FINANCING (toxic debt, bottomless conversion ratios, never ending) - and feed it back to the "mother ship" 100% PRIVATE MICRO LLC "Creative Medical" aka Dicky and Donny to pay them as faux "consultants".

This SCAM doesn't even have enough cash to put a down payment on the first FIVE MINUTES of a legit FDA phase I clinical trial - let alone ever run a Phase I, II and III and gain FDA approval, which "starts" in the $1/2 a BILLION range to a $BILLION for a newly approved drug.

This is a share printing scam folks- and the next round of ALREADY INKED DEATH SPIRAL NOTES (the reason for this mini P&D about nothing) - they start converting RIGHT NOW as in Feb/March 2021 and will BURY THIS BACK TO ONE CENT IN A MICRO BLINK as the death spiral hedge boys start dump/conversion cycles by the super tanker full -

CELZ is printing "on average" OVER 200 MILLION SHARES OF TOILET PAPER A MONTH ! Looks at their prior shares O/S versus their daily updates on the OTC site = a DILUTION MACHINE.

QUOTE PAGE 1 SEC 10-Q:

"The number of shares outstanding of the registrant’s common stock on November 6, 2020, was 577,128,087."

LMAO - that was THREE SHORT MONTHS AGO - 577 mil shares O/S. OTC MARKET TODAY:

1,083,090,706 SHARES OUTSTANDING LOL !! DOUBLED in 3 months = toxic debt DEATH SPIRAL on ROIDS !!!

Dream_Inn

Thanks Randy.  I've definitely seen more of that for both of them too, especially the CELZ one.  I have less that 1% of my extra stock money in it, so not a terribly huge deal.  But, I don't want to throw it away either.  LOL.  I also know that Amazon started in a garage too.  Definitely lots of talk for pumping and dumping too.  Again, definitely thanks for looking out for a fellow boater.  

FWIW, I'm wondering if I should just dump CCIV since it is up 25% just today.  It's the one that can go to zero in a minute.

Dream_Inn

Just sold some of CCIV at $40.  I basically took out half my initial shares.  That's probably the one I'll regret, but it's been going up on Friday's for FOMO and then drops on Monday (er, Tuesday next week).  So, I could just buy again next week if it goes lower.  I will have to watch on CELZ, cause it does seem a tad questionable.

randy56

I'm going to have my buddy run CCIV through his computer program on Saturday. Will report back

Dream_Inn

Thanks Randy, really appreciate it.  I have a sell limit put for CELZ the next time it jumps up.  But, I also have a buy if it dives a little like today.  

I'm curious about CCIV.  It's just rumors on it for Lucid motors, which I'd love to jump in early on.  I feel good about taking some profits even if it does go up, but if it becomes Lucid I'll wish I kept.👍

randy56

Watching TTOO  and CYBE      Market closed on monday

boatman37

KO is for Coca Cola...lol

As for oil futures, I never studied up on what happens at the end of the future contracts. Suppose it is similar to buying calls? I don't hold for that long so never needed to understand that.

I don't short at all, never have. I don't trade the actual stock and don't exorcise my options when they expire because I never hold them that long. Well except one time I screwed up and bought SPY monday expirations thinking I bought Wednesday expirations. They closed in the money. Woke up the next morning to $65,000 of SPY in my account and a margin call cause I didn't have that much in my account...lol. Hurried and sold it quick.

Had a rough day today. My bigger account was up $150 today so good there but I tried to buy TSLA puts right at the open. Could have hit big with that one but as much as I like thinkorswim, it is horrible at the open. Broke my own rules and chased it down to finally get filled and was instantly down about $250. Frustrated and confident it would go lower I held until I was down $500 then sold it. Then got back in it again and lost another $600 that time. Just a mental lapse there today partially triggered by thinkorswim frustration. Ended the week nicely green in my bigger account but down too much to be comfortable with in my small account. Will reset and get back at it again next week. I broke my own rules and let my mental state get me.

boatman37

Anyone interested in following The Strat a little closer I just received an invite yesterday to a new Discord server that focuses on The Strat. I just got in yesterday morning so haven't followed it closely yet but they did alert PYPL at about 12:30 yesterday and I bought 2 contracts and made a quick %60 or so in about 30 minutes. At 1 point I think I was up about $130 or so and I probably could have made more if I stayed in a little longer.

Not real sure if this is the right way to send an invite but appears to be. Said this link is good for 7 days. It is free, at least for now. > https://discord.gg/6DhYGp8Z

A user named bignoob runs it and I think yogajen is helping. I have 'known' yogajen for about 6 months in the trading world and she is good. Apparently bignoob is pretty good too.

randy56

watching BLNK, MU, EQT, CYBE, Dream I still gathering info on CCIV

Dream_Inn

Thanks Randy.

I bought into NRG this morning and a little more of BGS, while both are down a bit today.

BLNK sure looks to have rocketed up the last couple months.

randy56

Bought BLNK, MU, 

Dream_Inn

I actually ended up buying more CCIV, but at 50/share.  Dang, I sold some at $40/share on Friday, going backwards! I had a limit put in at $35 today, but it only went down to $36.5.  LOL!  I'm probably stupid buying on the news, but it does look like the merger is going to happen with Lucid.  So, I'm hoping it shoots up more and maybe just hold for a while.

rasbury

I bet you guys have a blast in vegas!

randy56

I watched CCIV all day my self. It happens. But News changes things. Looking at ABNB and PYPL, ZM, bought TTOO and LQSIF. Trying to diversify my positions a little. I'm betting Our Canadian friends are going to drink more with LQSIF . LOL 

I'm just a beginner,  here is my story. Two years ago It's winter time, I get my self an E-trade acc. Stick in 10k and try and self learn. Was not long, I learned other people are out there to seal your money. Lost 2 thirds of it. Part time keep reading and experimenting. At the end october 2020 my account was at $4300 account is at 21 k now.

I'm having fun with it. May be a long time to get to where boatman is.  I am going to buy a new PC and two 24 ers when I get home. also going to change platforms, to Schwab live street edge software. My neighbor down here showed it to me.

rasbury

I would like doing that if I understood it better...I wished you could go to one of these brokers sites and you could set up an account and use monopoly money just to see how it all works...

rasbury

And if someone does it after I posted it...my idea...

YYZRC

rasbury said:

I bet you guys have a blast in vegas!

Honestly! I’ve done well in Canadian bank and energy stocks. I’m just another boring dividend investor. 

boatman37

rasbury said:

I bet you guys have a blast in vegas!

Nope. Hate gambling...lol. Trading is trading on probabilities, not a coin toss if you do it right

boatman37

My watchlist for this week was UPS long over 163.83, short below 162.04. PYPL long over 299.34, short below 289.32. HD long over 280.42, short below 276.01 and LVS long over 56.28 and short below 54.03.

Unfortunately I didn't get in any of them because I had a 2 hour meeting starting at 10:00 so couldn't watch it. Most gapped up then pulled back. LVS would have been a great one

randy56

ras there is a way you can do it with paper trades.