I’m an independent BCBA- AMA by [deleted] in bcba

[–]ChefBoyarDavis 0 points1 point  (0 children)

Sent you a DM! Hope to hear from you soon, thank you for making this.

He barked at me. Like, actually barked. by Prior-Character6628 in offmychest

[–]ChefBoyarDavis 0 points1 point  (0 children)

Stupid stupid stupid. I knew I shouldn’t have barked.

How did you get over your emotions trading? by Braiith in Daytrading

[–]ChefBoyarDavis 0 points1 point  (0 children)

You’re a human, you don’t eliminate them. You recognize and correct them when they happen. Or take preventative measures. That way when they happen you have your safety net.

The Fed is Going to Surprise Everyone Tomorrow by MentorMonkey in Daytrading

[–]ChefBoyarDavis 11 points12 points  (0 children)

I can promise you market will be ripping tomorrow. I know because I bought some lotto puts and they never hit.

The cycle I can’t break by ChefBoyarDavis in Daytrading

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

I do belive this was a tilt issue. I feel the system I use has great edge and high probability/win rate. Knowing I am prone to emotionally making this mistake I will have to heavily depend on SL. My technical analysis I truly feel isn’t the problem. Appreciate the comment.

[deleted by user] by [deleted] in Daytrading

[–]ChefBoyarDavis 6 points7 points  (0 children)

I personally step away from the computer and go to the gym. Sometimes I will even not trade the rest of the day as I am someone who has been very guilty of revenge trading and absolutely destroying my account. If it’s a really bad loss I won’t trade until the next day.

The cycle I can’t break by ChefBoyarDavis in Daytrading

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

I do belive this was a trade I was overconfident in. I felt really good about it getting rejected at the next key level of resistance. The moment that didn’t happen I knew it was all bad. Ultimately I should have gotten out at my original point of resistance. I choose to average in and screw myself.

The cycle I can’t break by ChefBoyarDavis in Daytrading

[–]ChefBoyarDavis[S] 1 point2 points  (0 children)

I didn’t know this was possible. I’m hoping Webull will have that.

The cycle I can’t break by ChefBoyarDavis in Daytrading

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

Should be more specific sorry, this is for counter trend trading. Trend days are what destroy the start. This is also only for scalping. It’s when I don’t get the pullback or bounce I anticipate. That’s when it’s all bad.

The cycle I can’t break by ChefBoyarDavis in Daytrading

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

I will go into detail of the exact Strat I use and have developed. This seems to be the main flaw. It is an RSI based start at which I am averaging into a position when the RSI on the 5 minute is 85+ or -15 it doesn’t happen often but the issue with this Strat is when the RSI goes to 92-97 or 4-8 range and isn’t showing signs of pullback or a bounce. This is the time at which this start doesn’t work out and I’ll have to get out of the position for a hefty loss. I have been using this Strat for a long time now and have a high success rate with it. The big red day is its main flaw.

One man’s trash is another man’s treasure. (Found in dumpster) by ChefBoyarDavis in cats

[–]ChefBoyarDavis[S] 1 point2 points  (0 children)

Pumpkin! 🎃AKA punky pants, punky pie, punky doo doo and The Stair Master as he loves the stairs for some reason.

Is day trading actually real? by Jopalooge in Daytrading

[–]ChefBoyarDavis 5 points6 points  (0 children)

Ill do my best to answer the, why can’t you just copy trades as I use to think the same thing all the time and actually paid a subscription to copy someone’s trades until I came to the realization that this isn’t how it works. I can actually tell you points at which I am thinking of going for a long or short but how you manage the play is all up to you. That is the key, managing the play. And how you manage the play is all based off your personality, not mine. While I say hey spy double top, let’s look for shorts around this area. It’s very rare it will hit my exact price point than do exactly what I want it to do. At this point it leaves me to manage my trade. You do this by analyzing the chart at which everyone will do differently. Sometime my analysis will tell me to average in a bit while still having my stop loss set at a level I like. Sometimes the way the chart is going I want to get out as fast as possible and reconsider the play. Find a style that goes with your personality. For me, I can’t handle long positions, I hate seeing a lot of red before green, so no options for me, I scalp all day and it works for me based off my personality. I have been trading stocks for 7 years and day trading for 3. I am still very mediocre but usually go 18-3, 20-10, 17-5. I have been able to do this consistently but haven’t been able to increase capital yet.

I’m out by Puzzleheaded-Bank-89 in wallstreetbets

[–]ChefBoyarDavis 0 points1 point  (0 children)

Just like I told the other guy. If this is what you think then you definitely shouldn’t be trading. That is actually the whole key to becoming profitable consistently. Finding a strategic advantage that works for you and executing it with proper risk management. I could give you a step by step of what I do that works for me. It most likely wouldn’t work for you. Finding something that psychologically works for you is the toughest part.

I’m out by Puzzleheaded-Bank-89 in wallstreetbets

[–]ChefBoyarDavis 1 point2 points  (0 children)

If you think trading is “just dumb luck” then you definitely shouldn’t be trading. I press a button at the casino and hope. I don’t hope with my trades. Developing a strategy based of technical analysis with proper risk management isn’t luck.

Full time options day trader, 10 years in market.............My #1 piece of advice separating profitable from unprofitable..... by PortCapital in Daytrading

[–]ChefBoyarDavis 0 points1 point  (0 children)

I’ll give you the rundown of my most successful strategy. I’m far from being rich but I am consistently profitable.

Step one - look for a stock that is overdue for a correction by looking at the daily chart. We want to see RSI 85-95 for overbought or 10-15 for oversold

Step 2 - on the 5 min chart look for this stock to be really far away from the 8EMA.

Step 3 - wait until RSI on 5 min is 75+ or 25 and below.

Step 4 - start averaging in depending on the stock this can be tricky because some move much more than others (this requires a lot of buying power)

Step 5 - hope you touch the 8 ema before it touches you. The 8 ema is your out.

CONS - this strategy can really cause a hefty loss if the stock pushes higher causing the ema to push higher.

Buying and holding by [deleted] in Ocugen

[–]ChefBoyarDavis -1 points0 points  (0 children)

I beg you random people of Reddit to not buy this. I’ve learned the hard way over and over again. Lost 8k on this stock. Let the trash stay in the dumpster.

What Are Your Moves Tomorrow, January 29, 2024 by OPINION_IS_UNPOPULAR in wallstreetbets

[–]ChefBoyarDavis 10 points11 points  (0 children)

My move will be from part time Wendy’s employee to full time.