re: $500 a day keeps the day job away

Net seller of options day trading them? I tend to look for good chart set ups with bullish option flow.

Pma?

Yes I’ll be able to do it once I have a large enough nest egg and that’s the day I will retire. There are some solid mutual funds that will make the return for you. No reason to day trade let the funds do the work and enjoy the day. I don’t want to be staring at stock tickers prices from market open to close everyday

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My average is way over 500/day this year but I’ve been treating it like a full time job almost. I don’t day trade either. I’d say I’m more of a swing trader. Been a life changing year tbh. Most people wouldn’t believe my gains. But most important part of all of this is protecting the gains. Stay within yourself and stay on plan. All of this to say it’s def possible to do

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What are you some kind of gay bear hiding your gains in your cave? I showed my Etrade to a group of girls at the bar last Saturday unfortunately it was stuck on -4K from Friday because you retards sold me on grwg

It’s 2020 bro you aren’t a true believer if you don’t spread the good news on stonks

You can avoid paying taxes that way.

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20 $50,000 rental units

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Id be factoring in a good PM

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I’ve said a couple times I don’t have the talent to do it.
however I do have the bankroll to make 2/10ths of a percent every day if I did have the talent, and I’d still need the 500 bucks

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Yeah.

But with a million dollar starting bankroll it makes more sense to grab dividend stocks on dips, so you get a solid return in the long run.

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MA’s tell the story if you look back at the charts. Been buying TSLA puts but it is far less consistent and you have to sit and watch the chart and pull the trigger when the PMA drops below the EMA combined with downward selling pressure.

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Someday I may make a post about technical analysis, because I just don’t get it, and I thought I would since it’s been presented as a combination of statistics (which I have a master’s in) and psychology (which I have a PhD in) but I don’t see anything resembling psychology (which is just asinine to even pretend to be understanding) a very little resembling statistics (and mostly rudimentary things like smoothing that are useful, but seem to be misapplied and/or taken beyond their simple value).

But looking into the acronyms you’ve posted (MACD, RSI), and I’ve found plenty to show that it’s not particularly accurate (especially in and of itself) but more importantly nothing that actually quantifies its accuracy on even historical data (which is usually easier to get right than forecasting).

And when I was in elementary school, in the first half of the 90’s before we had the internet my dad would get a daily newspaper (I think it was Investor’s Business Daily) with commodity future charts and based on some methods from some book or newsletter he would draw lines in the charts. That didn’t last very long (I don’t know if he actually made any trades but he used to have to call a broker for stocks at least) because it wasn’t a very successful method. Unbeknownst to me, he was applying essentially the same technical analysis charting that I see now (just less fancy and more time consuming).

So it makes no sense statistically and psychologically that the same methods applied to a complete different asset class and trading market, pre-internet, pre-decimilization, and pre-advanced analytical software and the necessity computing power, can be applied (and successfully applied) to completely different asset classes, in a completely different trading and tech world during a never-before seen global scenario of a severe economic recession, civil unrest, pandemic, etc., with historically severe and abrupt losses and subsequent gains in the asset classes.

In other words, a lot of people seem to think they’ve unlocked the secret to trading and investing over the last couple of months (this thread is an example, the 1.5% weekly gains is another, there was a post in r/stocks yesterday where the poster compared his investing to Warren Buffett), but I think it’s mostly just the fact that the markers have had historical gains in a historically short period of time. And the secret is people are being fooled by randomness.

And once markets regress towards the mean (even if it just means the mean of historically performance, not even losses) they (and including you judging by the overconfidence in your posts) are either not particularly special (doesn’t outperform just throwing money into SPY or something with a lot more work and potentially a lot more in taxes) but it may actually be not very good at all (and severely underperforms). It’s just like all of those hedge funds (with essentially unlimited resources at their disposable) who MAY (often don’t) outperform during a crazy market then do poorly the other 90+ percent of the time.

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a lot of people seem to think they’ve unlocked the secret to trading and investing over the last couple of moths

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Yeah I never said that. I was simply pointing out a strategy I employ that takes an awful lot of time by performing technical analysis minute by minute on a chart. I have personally been very successful with this strategy and (because this is a message board) am passing that on to others who may want to attempt it. I certainly don’t hold the patent on it, there are multiple books that cover this method.

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people are being fooled by randomness.

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Agree

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looking into acronyms you’ve posted (MACD, RSI)

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Just now heard of these? They are called Indicators and have been around a while. Traders use the sum of these indicators combined with others like moving averages and implied volitility and make an assumption. Nothing is absolute, and everything can appear to be heading in one direction and never move in that direction. That is where a persons risk tolerance comes in. You will lose.

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And once markets regress towards the mean

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Markets have been continually increasing since.....forever. Sure we have up and downward trends but if you have any statistical knowledge at all this “mean” you speak of (and what time frame are you talking about?) has consistently over time increased and not “regressed”. I can post a picture of the Dow, S&P, NASDAQ, etc over time to easily show this.

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and including you judging by the overconfidence in your posts)

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Pssssssst........this is a message board. Cgrand posted a hypothetical question, people answered it hypothetically. Stating that I would have to quit my day job and focus solely on technical analysis exudes overconfidence? Or the fact that I THINK I could pull off 500 a day? I sure hope you don’t work in the field of psychology because you completely whiffed on your poor assessment of my “overconfidence”.