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Day/swing trading
Posted on 10/5/16 at 7:04 pm
Posted on 10/5/16 at 7:04 pm
What are your "go to" volitile stocks?
3x leveraged ETFs? Which sector?
Stocks?
Penny stocks?
What do you look for? Is the sweet spot in the first and last hours? Lunch?
I'm NOT super serious about this. Playing around with less than 1k in Robinhood...money that I don't "need."
I'd just like to read others strategies.
3x leveraged ETFs? Which sector?
Stocks?
Penny stocks?
What do you look for? Is the sweet spot in the first and last hours? Lunch?
I'm NOT super serious about this. Playing around with less than 1k in Robinhood...money that I don't "need."
I'd just like to read others strategies.
9
Posted on 10/5/16 at 7:45 pm to bayoubengals88
The best way to get a million dollars by day trading is to start with two million dollars....
Posted on 10/5/16 at 8:04 pm to bayoubengals88
I was in a similar position a couple years ago when oil was extremely volatile to the downside. Being the savvy day-trader I am, I played UWTI 3x leverage long (counting on a V-shape recovery) and lost a decent bit of play money. To make it worse, I found out later that a friend who has exponentially more play money than me, played DWTI over the same time frame to the tune of 300% in a few months. He "had" to go buy an $80K F350 work truck just to avoid giving it to the government. 
I gave up trading. Doing much better with my medium to long term investing.
I gave up trading. Doing much better with my medium to long term investing.
This post was edited on 10/5/16 at 8:08 pm
Posted on 10/5/16 at 8:13 pm to Wade Phillips
quote:
a friend who has exponentially more play money than me, played DWTI over the same time frame to the tune of 300% in a few months
I bet he doesn't mention the losers though.
Posted on 10/5/16 at 8:20 pm to foshizzle
quote:
I bet he doesn't mention the losers though.
His situation reminds me of the old story about H.L. Hunt's response to a reporter asking if H.L. was concerned with the amount of money Lamar was losing on the NFL start-up venture. H.L. informed the reporter that Lamar could not stand on the street corner and throw out cash faster than H.L. could make it.
Posted on 10/5/16 at 8:40 pm to bayoubengals88
NFLX and JCP are the stocks that I "swing" I am long in both but I do trade the options on them for the "swing" trade.
If I see NFLX start to move pretty big at the open, I'll sometimes buy a couple of contracts of the calls. I try to make a few hundred bucks and then roll out of them.
If I see NFLX start to move pretty big at the open, I'll sometimes buy a couple of contracts of the calls. I try to make a few hundred bucks and then roll out of them.
This post was edited on 10/5/16 at 9:04 pm
Posted on 10/5/16 at 9:12 pm to b-rab2
How much cash is needed for this? Isn't two contracts 200 shares?
Posted on 10/6/16 at 1:32 am to bayoubengals88
Depends on how in the money or out of the money you are. I usually buy at the money and about 21 days out. It might cost me $2.50-4.00 a share...
Posted on 10/6/16 at 7:59 am to bayoubengals88
If you were serious about getting into it, I'd suggest that you develop a trading system. This system should have entry points and exit points. Most people don't talk about an exit, but you need to know when to take a loss and when to take profits. The system needs rigid rules that you must follow to cancel out your emotions; otherwise, emotions will take over, and you won't do well in the long run. You also need to understand why the rules are there to have confidence in them, particularly if you have a string of losses.
One system is the Turtle Trading Rules, which you can find online for free as a pdf. To create your own system, you'll likely need to learn some technicals: support and resistance, price action, volume, momentum, trend, etc. New fundamental information comes out all the time across the market, but you're better off focusing on a handful of securities to have an understanding on how they trade. And in between significant fundamental news on those securities, technicals are useful. You'll have to choose for yourself what technicals to use based on what makes the most sense and appeal to you. That said, ignore fundamentals at your own peril.
If something isn't working well, change it. If you're upset that you take profits too early, either accept that more opportunities will come and you're protecting against downside, or adjust your system, perhaps by using a stop loss or trailing stop loss.
No one is going to give or sell you a working system unless they have a better one. The Turtles have moved on to better systems, so the Turtle Trading Rules are free. Anyone selling a system is using little or no money trading it. They're making money off of you.
Edited for grammar. Also, back test your system, then paper trade with it, and then start small with real money. You back test to see if the system works, paper trade to practice the system, and then start small to get real experience. It's neither quick nor easy; it can take months or a few years to find something that works. I've been working on a day trading system for many months now and am close to completion... I hope.
One system is the Turtle Trading Rules, which you can find online for free as a pdf. To create your own system, you'll likely need to learn some technicals: support and resistance, price action, volume, momentum, trend, etc. New fundamental information comes out all the time across the market, but you're better off focusing on a handful of securities to have an understanding on how they trade. And in between significant fundamental news on those securities, technicals are useful. You'll have to choose for yourself what technicals to use based on what makes the most sense and appeal to you. That said, ignore fundamentals at your own peril.
If something isn't working well, change it. If you're upset that you take profits too early, either accept that more opportunities will come and you're protecting against downside, or adjust your system, perhaps by using a stop loss or trailing stop loss.
No one is going to give or sell you a working system unless they have a better one. The Turtles have moved on to better systems, so the Turtle Trading Rules are free. Anyone selling a system is using little or no money trading it. They're making money off of you.
Edited for grammar. Also, back test your system, then paper trade with it, and then start small with real money. You back test to see if the system works, paper trade to practice the system, and then start small to get real experience. It's neither quick nor easy; it can take months or a few years to find something that works. I've been working on a day trading system for many months now and am close to completion... I hope.
This post was edited on 10/6/16 at 9:01 am
Posted on 10/6/16 at 9:22 am to Omada
wake up before markets open. Pick the biggest gainers/losers from the day before or post/premarket trading. Look at volume. See when the 7 day moving average and 40 day cross. Learn the graphs. Most of your money will be made before lunch. To "legally" day trade you need 25k in your account in the US. Only ways around this is to have a non-margin account, which means you cant short anything.
LINK
Go there and do the two week free trial. I did the free trial then bought it for two months. I learned a ton. The owner is a day trader out of Canada and will accept any and all questions via a private message. He screen shares and will show his live trading, exactly when he executes buys and sells, why he is doing it, etc. It's really a great learning tool. He's a great guy, too. I accidentally waiting one day too long to cancel the first time (because I was going out of country and didnt want to pay to not use it for two weeks), and he still refunded me my money. Definitely check it out if you have the time. If you cant watch it in the mornings, you can watch it anytime as it is recorded. He also has a ton of videos in the members section explaining different aspects of day trading.
LINK
Go there and do the two week free trial. I did the free trial then bought it for two months. I learned a ton. The owner is a day trader out of Canada and will accept any and all questions via a private message. He screen shares and will show his live trading, exactly when he executes buys and sells, why he is doing it, etc. It's really a great learning tool. He's a great guy, too. I accidentally waiting one day too long to cancel the first time (because I was going out of country and didnt want to pay to not use it for two weeks), and he still refunded me my money. Definitely check it out if you have the time. If you cant watch it in the mornings, you can watch it anytime as it is recorded. He also has a ton of videos in the members section explaining different aspects of day trading.
Posted on 10/6/16 at 10:33 am to Omada
quote:
you need to know when to take a loss
this
Posted on 10/6/16 at 11:23 am to bayoubengals88
LABU and LABD 3x leveraged bull/bear biotech
Very volatile these days... Literally has to watched like a hawk. It's a scalper/swing trader ticker.
The other little minting machine I've found is short UVXY almost anytime it pops. That's a leveraged long VIX instrument and is theoretically (and actually) headed to zero.
None of this is advisable... I am simply responding to the information you requested.
Very volatile these days... Literally has to watched like a hawk. It's a scalper/swing trader ticker.
The other little minting machine I've found is short UVXY almost anytime it pops. That's a leveraged long VIX instrument and is theoretically (and actually) headed to zero.
None of this is advisable... I am simply responding to the information you requested.
Posted on 10/6/16 at 11:41 am to bayoubengals88
What makes you think day trading is only done with stocks and ETF's? I've never day traded with the above.
I HAVE day traded with commodity/forex futures though.
You need to learn to read technicals and current trend before even entering and see which way it is heading once it opens. get in if deemed right time. Then watch it all day. be ready to eject at all times.
I HAVE day traded with commodity/forex futures though.
You need to learn to read technicals and current trend before even entering and see which way it is heading once it opens. get in if deemed right time. Then watch it all day. be ready to eject at all times.
Posted on 10/6/16 at 11:50 am to bayoubengals88
OAS, F,
OAS is for quick in and out, F is more swing trading as it trades in a pattern (both long and short). I'm done trading OAS by 9:30 MT, unless it's a wednesday. Usually done with all trades by 10 unless I wanna do something around 12:30 or near the close. I find the market loses it's energy around lunchtime.
There are a lot of "boring" stocks that trade in patterns, even when their longer term outlook is questionable. Just gotta study and look for it.
OAS is for quick in and out, F is more swing trading as it trades in a pattern (both long and short). I'm done trading OAS by 9:30 MT, unless it's a wednesday. Usually done with all trades by 10 unless I wanna do something around 12:30 or near the close. I find the market loses it's energy around lunchtime.
There are a lot of "boring" stocks that trade in patterns, even when their longer term outlook is questionable. Just gotta study and look for it.
Posted on 10/6/16 at 11:55 am to TigerDeBaiter
Yeah, that's a good one too.
I use XIV, but shorting a 1/x chart like UVXY is probably better.
I use XIV, but shorting a 1/x chart like UVXY is probably better.
Posted on 10/6/16 at 12:05 pm to Fat Bastard
quote:I like DWTI for this but I'm usually out in less than an hour.
I HAVE day traded with commodity/forex futures though.
Posted on 10/6/16 at 12:07 pm to JLivermore
quote:Ford doesn't move enough for me. I'm long on it.
OAS, F,
POT, however, has consistently traded between $15 and 18 since February.
Posted on 10/6/16 at 12:18 pm to bayoubengals88
quote:
I like DWTI for this but I'm usually out in less than an hour.
I' did ok messing with the commodities but forex ate my lunch. It is not for the faint of heart. Much rather regular futures trading. Not a big fan of day trading.
Posted on 10/6/16 at 12:28 pm to bayoubengals88
True, F will usually leave you frustrated if you try to get in and out intraday. Gotta give it some time, both long and short.
FWIW I thought the price action reacted very well to the latest recall news if you are a bull (totally shrugged it off, then went higher the next trading day).
Gotta give it some time, both long and short. FWIW I thought the price action reacted very well to the latest recall news if you are a bull (totally shrugged it off, then went higher the next trading day).
Posted on 10/6/16 at 4:38 pm to Fat Bastard
Ive been day trading Futures now for 3 months. I use TradeStation and have done ok so far. I've put in probably 1000 hours of simulation in addition to going live in July. Make sure to develop rules and follow them. Also do not trade with emotion. Get in, get out. Don't be stubborn and take what is available. ALWAYS USE PROTECTIVE STOPS.
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