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Stock-Age: Stocks, Options and Dividends oh my!
- Thread starter koam
- Start date
StreetsofBeige
Gold Member
Dynasty8
Member
For my fellow day traders...What are some strategies I should use or be aware of when entering a day trade?
Just trying to understand what gives people confidence in a stock temporarily going higher than normal for the given day. I am looking to make at least $1k profit a day if possible, and I know it'll require a bigger risk.
Just for context, here's what I did last week and yesterday.
March 2nd: I put $29k into RKT at $29 a share (1,000 shares). It jumped to $43 that same day.
....then I took a nosedive back to $32 so I panic and sold. Still made close to $3k profit for the day.
March 8th: I FOMOed hard on EYES yesterday and paid the price...I bought a thousand shares at $13.50 yesterday...it went up about a dollar and then dropped about 25% for the rest of the day. This one really hurt me. I ended up losing about $2.5k because it just wasn't going up for a couple hours. Saw it at $16 this morning and felt sick to my stomach. Whatever, I am over it now, but just wanted to see what the day traders of GAF think. I am also ok swing trading.
Thoughts on:
When should I enter my position?
What catalysts/events should I look for?
How much do you guys normally invest? I am aware of the risk vs reward....but I'd prefer to make at least $500+ a day (at the very least).
What's your indicator to sell it all?
Just trying to understand what gives people confidence in a stock temporarily going higher than normal for the given day. I am looking to make at least $1k profit a day if possible, and I know it'll require a bigger risk.
Just for context, here's what I did last week and yesterday.
March 2nd: I put $29k into RKT at $29 a share (1,000 shares). It jumped to $43 that same day.
....then I took a nosedive back to $32 so I panic and sold. Still made close to $3k profit for the day.March 8th: I FOMOed hard on EYES yesterday and paid the price...I bought a thousand shares at $13.50 yesterday...it went up about a dollar and then dropped about 25% for the rest of the day. This one really hurt me. I ended up losing about $2.5k because it just wasn't going up for a couple hours. Saw it at $16 this morning and felt sick to my stomach. Whatever, I am over it now, but just wanted to see what the day traders of GAF think. I am also ok swing trading.
Thoughts on:
When should I enter my position?
What catalysts/events should I look for?
How much do you guys normally invest? I am aware of the risk vs reward....but I'd prefer to make at least $500+ a day (at the very least).
What's your indicator to sell it all?
mango drank
Member
C'mooooon ARK
StreetsofBeige
Gold Member
Let's go! +4%. What a shit drop the past 3 weeks. I need two more of these days to get back to peak portfolio.
Dynasty8
Member
Last edited:
12Goblins
Lil’ Gobbie
For my fellow day traders...What are some strategies I should use or be aware of when entering a day trade?
Just trying to understand what gives people confidence in a stock temporarily going higher than normal for the given day. I am looking to make at least $1k profit a day if possible, and I know it'll require a bigger risk.
Just for context, here's what I did last week and yesterday.
March 2nd: I put $29k into RKT at $29 a share (1,000 shares). It jumped to $43 that same day.
March 8th: I FOMOed hard on EYES yesterday and paid the price...I bought a thousand shares at $13.50 yesterday...it went up about a dollar and then dropped about 25% for the rest of the day. This one really hurt me. I ended up losing about $2.5k because it just wasn't going up for a couple hours. Saw it at $16 this morning and felt sick to my stomach. Whatever, I am over it now, but just wanted to see what the day traders of GAF think. I am also ok swing trading.
Thoughts on:
When should I enter my position?
What catalysts/events should I look for?
How much do you guys normally invest? I am aware of the risk vs reward....but I'd prefer to make at least $500+ a day (at the very least).
What's your indicator to sell it all?
The rule of thumb is don't day trade
The stock market is patient people taking money from inpatient people. If your goal is to make at least 500$ a day, you're going to lose your money to people who have long term goals
my 2 cents
Last edited:
mango drank
Member
This guy says he's a pro day trader, his videos might have some good info, if you haven't run across them yet:
12Goblins
Lil’ Gobbie
This too.
Listen to this itv and tell me panic selling ark etfs is a good idea ....
CRISPR Scientist's Biography Explores Ethics Of Rewriting The Code Of Life
The Code Breaker profiles Jennifer Doudna, a Nobel Prize-winning biochemist key to the development of CRISPR, and examines the technology's exciting possibilities and need for oversight.
www.npr.org
godhandiscen
There are millions of whiny 5-year olds on Earth, and I AM THEIR KING.
My portfolio is up over 50k today. I really needed a day like this after the last couple weeks.
GHG
Member
For my fellow day traders...What are some strategies I should use or be aware of when entering a day trade?
Just trying to understand what gives people confidence in a stock temporarily going higher than normal for the given day. I am looking to make at least $1k profit a day if possible, and I know it'll require a bigger risk.
Just for context, here's what I did last week and yesterday.
March 2nd: I put $29k into RKT at $29 a share (1,000 shares). It jumped to $43 that same day.
March 8th: I FOMOed hard on EYES yesterday and paid the price...I bought a thousand shares at $13.50 yesterday...it went up about a dollar and then dropped about 25% for the rest of the day. This one really hurt me. I ended up losing about $2.5k because it just wasn't going up for a couple hours. Saw it at $16 this morning and felt sick to my stomach. Whatever, I am over it now, but just wanted to see what the day traders of GAF think. I am also ok swing trading.
Thoughts on:
When should I enter my position?
What catalysts/events should I look for?
How much do you guys normally invest? I am aware of the risk vs reward....but I'd prefer to make at least $500+ a day (at the very least).
What's your indicator to sell it all?
- First of all only put in what you're willing to lose
- Pick and time your entry point wisely, you should be studying candlestick patterns and using indicators
- Set a stop loss - if you've picked a good entry point using candlesticks then the stop loss point should be obvious
- Decide how much you want to gain before entering the trade. How much movement are you looking for to achieve your profit target? Is it realistic based on the daily movements, the current volume going into the stock and the float?
- Once you're in and you've made a good entry (it's going up and not down after you entered) then move your stop loss up to break even. I cannot stress this enough, it gives you comfort and you can now sit back and see how it behaves. If you want, as the trade develops you can even move the stop loss up to profit taking levels as it's increasing which should give you even more comfort to make rational decisions about your exit point.
As an example all of my day trades today have been on one stock (XELA). When I entered my first one today I knew very little about the company and made my trade based on technical indicators alone, as such I set the stop loss tight. As the day has gone on and I've become more familiar with the way the stock tends to behave in relation to volume I've relaxed how tight I've been on the stop loss but this is based on judgement. Generally I set my stop loss to a quarter of what my profit target is for each trade - so if I want aim to make $100 on entry then my stop loss will be set at $25 (loss).
If you are holding positions overnight you are no longer day trading in my book (if you only intend to hold for a couple of days you're more in the realm of swing trading) and therefore your trades should be based on fundamentals and catalysts rather than many of the technical indicators I mentioned above. For catalysts two questions to ask:
- How much is the catalyst worth to the company (financially)?
- Is the catalyst easily understood and is it something someone will be able to understand without deep industry knowledge?
- If it's already up over 25% for the day then you should most likely forget about it unless you want to scalp/day trade it.
- If you're getting in at the very top of the days range, again, forget about it.
If you are just getting started, $500 a day is a lot. Risk less capital and practice, practice, practice. Start with $50-100 a day as a target, seriously. In fact, you can even do all of your practicing without risking any of your capital, use a paper account for a couple of weeks until you are more confident and have a tried and tested strategy that works for you.
Last edited:
Nikana
Go Go Neo Rangers!
YOU'RE RICH! WE GET IT!
Having a good day myself. Getting rid of some of those loses from past few weeks. Even made $200 on a call.
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Cyberpunkd
Member
So WTF happened today? Not that I'm complaining, maybe my sell order on FB will actually trigger
StreetsofBeige
Gold Member
Hallejujah. +5%.
HoodWinked
Member
fucking algo rug pull everything drop .5% - 1% in 5 minutes.
GHG
Member
Fuk em.
I've learnt to trim higher risk positions that are profitable on days like this. Let them drop the prices, I'll just buy more.
StreetsofBeige
Gold Member
Dropped a bit at the end, but finished +4.5% I'll take it. All green.
GHG
Member
Basically what you're telling us is that your portfolio is the opposite to the rest of ours.
Should I be worried
?
HoodWinked
Member
its annoying how blatantly obvious some things are in hindsight.
TSLA up 20%.
TSLA up 20%.
GHG
Member
If Tesla is up, everything is up.
If Tesla is down the whole market panics.
When I see a few days where Telsa is down but the rest of the market is up then I'll be a believer.
ManofOne
Plus Member
Basically what you're telling us is that your portfolio is the opposite to the rest of ours.
Should I be worried
No, I still holding onto reverse ETFs so that carried me down. I have a good Margin of Saftey on them but I sold a portion today since its not meant to be held long term. So it dragged down my portoflio plus energy and large cap financial were bad.
My losses would have been bigger if I didn't re balance it yesterday.
GHG
Member
Yeh I noticed Energy/Oil was down today but took advantage and added some midstream exposure in OKE and ENB. Had my eye on both of those for some time due to the dividends.
mango drank
Member
Any particular reason energy and financials are down today? Or just people getting panicky because tech surged, and There Can Be Only One?
ManofOne
Plus Member
Its too early to call it a rotation trade out but it just seems to be b/c the 10 year was down so shorter duration (financials and energy) stocks got hit.
godhandiscen
There are millions of whiny 5-year olds on Earth, and I AM THEIR KING.
lol I am not. I just have a lot of Tesla.
GHG
Member
Yeh one day is not enough of a signal for me so I'm not buying and holding anything that I'd consider high risk yet.
In fact if quite like another dip so I can buy some Toyota.
CrankyJay™
Member
+4% day. I’m sure I’ll be down the same amount tomorrow. Lol
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Honey Bunny
Member
I really want to buy into ISRG but I'm scared to buy more richly valued stocks atm along with my tech.
SpartanN92
Banned
Stock Market: The whippings will cease only when morale improves.
StreetsofBeige
Gold Member
+2%. Nice.
Cant believe GME is back to $290 and AMC $12.
Anyone here take the dip when GME was $100 and AMC dropped to $5 or $6?
I'm going to text my bro later. He bought in at $13 and then more at around $8 I think. He hinted his breakeven was $10-ish. He's actually up.
Cant believe GME is back to $290 and AMC $12.
Anyone here take the dip when GME was $100 and AMC dropped to $5 or $6?
I'm going to text my bro later. He bought in at $13 and then more at around $8 I think. He hinted his breakeven was $10-ish. He's actually up.
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Nikana
Go Go Neo Rangers!
I did some AMC calls for 2022 because I think by then it would be higher and i dipped out at $10 last week and then during the dip got back in and dipped out at $11. Made enough to cover some of my other losses. If it dips again I will go back in.
Honey Bunny
Member
I'm questioning my approach of investing directly in metals when their miners tend to pay good dividends. If anyone has a good company for copper, silver or platinum I'd love to hear it
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StreetsofBeige
Gold Member
My two remaining boring Canadian stocks are creeping up nicely lately. Still on avg 10% down each vs pre-covid levels a year ago. That's how long they took to rebound! One more good creep up month and breakeven! They pay about 3-5% dividend, so not so bad.
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GHG
Member
I'm questioning my approach of investing directly in metals when their miners tend to pay good dividends. If anyone has a good company for copper, silver or platinum I'd love to hear it
For copper look at FCX.
Had some up until last week but decided to sell out and get XME instead for some broader market exposure.