I gave my kid a hot stock tip, I missed out. Sigh

[crockett]

And for the record, here an example of a massive loss of 50% within 1 minute. NNDM was the runner of the day... until it posted news on a secondary offering. If you got in that morning to get some of that runner by simply holding throughout the day and not scalping for seconds or a couple minutes only, based on patterns on the 10 second time frame (or at least 1 min), you just lost half of your position.

 

Edited December 4, 2020 by crockett

[tadbart]

was anybody else waiting to see what kinda pistol that money manager was about to chew on?

 

that was hard to watch.

[crockett]

Just now, tadbart said:

was anybody else waiting to see what kinda pistol that money manager was about to chew on?

 

that was hard to watch.

 

He is being sued by is clients now. He is done. That Rolex on his arm will also be gone.

[MO Fugga]

4 minutes ago, tadbart said:

was anybody else waiting to see what kinda pistol that money manager was about to chew on?

 

that was hard to watch.

It'll be a shotgun. We'll see him on hoodsite soon enough.

[crockett]

9 hours ago, Walt Longmire said:

Perhaps YOU should be giving ME some winners.

This is what my scanners offer me right in this second. The "Rapid Rising" scanner (second from the left) shows 2 stocks are going strong right in that moment. That's the time to pull up the charts (5 min, 1 min and 10 sec charting at the same time). When you see a proper pattern like a bull flag or a high of day outbreak, you may go in if all the other real time data supports it, and sell as soon as you see indication of weakness.

I trade up to 600 times on a single day. Many of my trads only last a second or 2. You can't hold these, or you will get buried, its just a matter of time.

 

[crockett]

One of my trades today... very typical scenario. This was a bull pennant, with a weak outbreak. I made about 2% within 1 minute. Got out as soon as I saw sellers coming in on level 2.

 

 

This was a VERY conservative setup. You wait for a massive run, let it play out and confirm, wait for any bullish pattern / pullback, and only cut out the 2nd leg.

Most noobs will think that I missed the big run minutes before, but I needed to see this run first to know that all the attention of most high momo traders is on this ticker right now.

You don't win let alone survive this game by going all in blindly on the big moves.

Even if you wait for only one of these safe 2% setups every single day and play with only 30k in average, thats 500% on the year, 150k a year, and a proper income that pays all the bills.

[Walt Longmire]

I find this interesting. You have a lot going on there. Rapid fire shooting, but not from the hip.

[crockett]

22 minutes ago, Walt Longmire said:

I find this interesting. You have a lot going on there. Rapid fire shooting, but not from the hip.

 

The day trading market evolved a lot in the past 3 decades. It used to be an even and fair playing field. Today it is completely setup to remove as much money from new traders as possible. The odds are totally against them.

On the surface, based on what brokers advertise, the general perception and what beginners want to believe, it all looks like a good way of making a good about of money in a short period of time.

In reality, there are countless misconceptions and outright traps. It now literally takes years to find out how this really works. And when you think you have figured it all out, you will yet again get punched in the face.

Its kinda surprising that government is not coming up with more regulations, because countless people lose their accounts and even all they own every single day. They go in without really understanding how todays trading market works. Every day I see account screenshots in those trading chats from people just having lost 5k, 15k, 50k, 200k, all they had in their 401k, you name it.

A friend of mine runs his how trading YouTube channel and training programs. He arrived at the top of small cap trading after 10 years of hard work. He lost 120k in the first 3 years before he finally came around. 2020 was his best year, he made about 4 million before taxes.

If you want to see how trading is done in a profitable manner, watch a few of his videos. He now trades live every morning starting around 9 AM in pre market session. And don't try to copy his trades, you will lose, he is too fast and the stream is delayed by at least 15 seconds.

Video stream from today... made 17k. On his best days he made 250k on the day.

 

 

Edited December 4, 2020 by crockett

[RenoF250]

10 minutes ago, crockett said:

 

The day trading market evolved a lot in the past 3 decades. It used to be an even and fair playing field. Today it is completely setup to remove as much money from new traders as possible. The odds are totally against them.

On the surface, based on what brokers advertise, the general perception and what beginners want to believe, it all looks like a good way of making a good about of money in a short period of time.

In reality, there are countless misconceptions and outright traps. It now literally takes years to find out how this really works. And when you think you have figured it all out, you will yet again get punched in the face.

Its kinda surprising that government is not coming up with more regulations, because countless people lose their accounts and even all they own every single day. They go in without really understanding how todays trading market works. Every day I see account screenshots in those trading chats from people just having lost 5k, 15k, 50k, 200k, all they had in their 401k, you name it.

A friend of mine runs his how trading YouTube channel and training programs. He arrived at the top of small cap trading after 10 years of hard work. He lost 120k in the first 3 years before he finally came around. 2020 was his best year, he made about 4 million before taxes.

If you want to see how trading is done in a profitable matter, watch a few of his videos. He now trades live every morning starting around 9 AM in pre market session. And don't try to copy his trades, you will lose, he is too fast and the stream is delayed by at least 15 seconds.

Video stream from today... made 17k. On his best days he made 250k on the day.

 

 

 

So you are really trading based on your dynamics of the market and your trades have nothing to do with the financials of the company correct?

Doesn't analyzing tons of data fast drive you a bit crazy?  I sort of enjoy it now and then as well but it can be hard to shutoff.  If you really get into it for awhile I get a heightened awareness and can hear a gnat fart at 3 miles.

[crockett]

24 minutes ago, RenoF250 said:

 

So you are really trading based on your dynamics of the market and your trades have nothing to do with the financials of the company correct?

Doesn't analyzing tons of data fast drive you a bit crazy?  I sort of enjoy it now and then as well but it can be hard to shutoff.  If you really get into it for awhile I get a heightened awareness and can hear a gnat fart at 3 miles.

 

Yeah, you don't trade the news, you only trade the price action and the patterns. News can be fake, exaggerated, interpreted both ways, and on these small cap stocks.. most of those companies are garbage to begin with. There is a reason why they linger at a few bucks only. These small cap tickers are only a vehicle for the day, and get dropped soon after. Some have runs for a few days but not many will last longer than that.

Now, trading mid and large cap stocks, some traders include fundamentals to their technical analysis, but that's also not my style. Only time I keep an eye on news is with futures like /ES. When Trump tweets a massive threat towards China, that has often turned around the market for hours or a couple days. Easy to ride the wave.

Trading does indeed sharpen your senses. And it turns out to be a massive personal growth challenge. Once you have mastered the technical aspect of trading, you have to fight and control your emotions. That's an ongoing make or break battle. Learning when to cut losses, not bag holding losers, not being attached to dollar values either direction, only trading the chart patterns and not daily goals, being able to accept losses as part of the game without trying to make it back, etc.

The psychological aspect makes up the core of successful trading.

Edited December 4, 2020 by crockett

[Peng]

On 12/4/2020 at 1:26 AM, Walt Longmire said:

My funds hadn't settled yet or I would have bought some, but not a lot. 

You can buy with unsettled funds, no problem.  Can't sell.  

I'm a trader full time, and I would never consider day trading, it's way worse than options trading as far as win percentages and lots more to lose.

Plus I'm not margined so not even an option for me.

It is odd in this day and age that Reg T is still 1 day for options and 2 for stocks (used to be 3 until last year I think.)