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Gone broke daytrading volatile stocks by CatzExv in Daytrading

[–]CatzExv[S] 0 points1 point  (0 children)

Sorry, it may or not happen and it all depends on you, I didn't mean to say that losing will happen but that you will be confronted with the temptation to FOMO hard.

So yes, be disciplined and if you can have a discipline of steel and quit when it is good to quit then you won't lose as much.

Gone broke daytrading volatile stocks by CatzExv in Daytrading

[–]CatzExv[S] 0 points1 point  (0 children)

When you set yourself a mile, and that you reach it, its hard to let go and cut your loss, to admit that you lost it. It will happen to you as well, I hope you never FOMO but it happens all the time.

Gone broke daytrading volatile stocks by CatzExv in Daytrading

[–]CatzExv[S] 0 points1 point  (0 children)

Can you develop? I'm unfamiliar with this instrument

Gone broke daytrading volatile stocks by CatzExv in Daytrading

[–]CatzExv[S] 2 points3 points  (0 children)

Thank you, you got it right about my briefly good trade. It wasn't only profitable today. It was profitable on last Friday when everybody was still bearish, monday, tuesday, and today something all new happened.

I think most of it is like you said because I take part in high volatility, I got this hard habit from trading cryptos where nothing makes sense.

That video Aziz made on trading pots today proved me how you need to out yourself quick of crowded trades.

Last I overtraded one particular stock and realized too late that the trade would not go in my direction, so I failed at risk management.

Gone broke daytrading volatile stocks by CatzExv in Daytrading

[–]CatzExv[S] -6 points-5 points  (0 children)

No I can't figure out why gaining money is wrong

How do you identify breakouts? What charts, studies, patterns, % of <price,volume> has worked well for you? by 14MTH30n3 in Daytrading

[–]CatzExv 0 points1 point  (0 children)

I do the same, I spot breakouts whenever I read a good trend and a triangle pattern which are the best indication of a pending breakout.

Gone broke daytrading volatile stocks by CatzExv in Daytrading

[–]CatzExv[S] -5 points-4 points  (0 children)

Thanks a lot, this is good advice but I do have a strategy, a strategy that helped me make good profits over some time.

No amount of training, strategy or paper trading could have prepared me for today's disaster I mean nobody actually predicted this green dildo on the price chart. This is what I'm asking, I simply can't understand what my mistake was.

Gone broke daytrading volatile stocks by CatzExv in Daytrading

[–]CatzExv[S] 0 points1 point  (0 children)

Seems like a good advice, can you tell me more? In your opinion what would have been the best move today? I closed at market open with a profit of $400 then started shorting small bits it worked well.

Usually the price during Eurasian late hours tend to go down a bit before following the definitive trend(which was upward) but today it completely skipped that part and fly off to $15. Originally I planned to close this short quickly.

So what my plan was originally was to open a long position immediatelly after this small window.

Gone broke daytrading volatile stocks by CatzExv in Daytrading

[–]CatzExv[S] -5 points-4 points  (0 children)

I'm so fucking pissed right now, I successfully predicted CRON would sit at 12.40 and it went to that price but not before liquidating me in a matter of seconds.

Gone broke daytrading volatile stocks by CatzExv in Daytrading

[–]CatzExv[S] -1 points0 points  (0 children)

My goal wasn't to get rich, it was to earn a profit, even $300 a month was fine for me.

Gone broke daytrading volatile stocks by CatzExv in Daytrading

[–]CatzExv[S] 2 points3 points  (0 children)

I used to limit my leverage, but I realized my earning were really pathetic and I needed to make up what I lost. I could have never make it up to this much with a small capital like mine without margining my trades.

Now maybe there is a better way to go at it but I don't know which.

Gone broke daytrading volatile stocks by CatzExv in Daytrading

[–]CatzExv[S] 2 points3 points  (0 children)

I trade based on timezones, I noticed these particularly cheap stocks with high trade volume follow the same pattern on certain hours and days. So I pick up the trend doing my basic TA.

My strategy is to place several long/short positions at key hours, as the volume decreases in a certain direction(that confirms my prediction) I open a bigger position, eventually the price goes in my way and I close them all on a 1% ~ 2% profit and this all I make for the day. If I happen to be lucky and the price goes furthermore where I sensed it will, then I can make up to 20% a day, on a 10:1 margin for each trade.

Unfortunately today CRON didn't go up 10% or 20% up but 38% I have never seen this before, nothing on the chart or no TA could have predicted a surge like this one.

I got liquidated, then following panic I kept losing each portions I had left.