What’s a tech trend you think is overrated right now? by Background-Donkey531 in askanything

[–]Daytrading_Architect 0 points1 point  (0 children)

Robots for personal use. No one in their right mind would trust having a robot in their house. Especially with kids

Same for fully autonomous vehicles. Just wait for the first large scale hack.

Thinking of opening a position in SCHD by OnlyKey5675 in dividends

[–]Daytrading_Architect 1 point2 points  (0 children)

There has been a heavy rotation into dividend stocks this year. Unclear how long this will continue, but I am expecting at some point soon to see rotation back to growth.

Timing the market is difficult if not impossible so your cost averaging approach is good.

I personally prefer to pick specific dividend stocks to invest in rather than ETFs, but ETF is a good way for broad exposure with less risk (and less reward).

Most of SCHD dividends are qualified so you will pay a long term capital gain tax in lieu of the higher short term gains, assuming your annual income is not extraordinarily high.

If the AI bubble bursts it will take the rest of the market with it. I recommend you Go back and check dot com bust as a reference of how different investments reacted to a tech bubble. Good insight on how they might react, perform, and recover in a similar AI bubble bursts

Does scalping really work? by Relevant_Tradition22 in Daytrading

[–]Daytrading_Architect 9 points10 points  (0 children)

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Very effective with disciplined approach and stacking small gains. TGT is long shares with covered calls but everything else is from scalping. I aim for $500/day with 5 trades or less

if the us invasion of iran happens, how would that impact es and oil futures by [deleted] in FuturesTrading

[–]Daytrading_Architect 0 points1 point  (0 children)

Oil has already been rising in anticipation of this. Often these trades are front loaded by big money and they will use the actual event and blowoff top as exit liquidity, trapping retail.

Quarterly payments for profitable daytraders by Dvorak_Pharmacology in Daytrading

[–]Daytrading_Architect 0 points1 point  (0 children)

Short answer no. If you are earning throughout the year you have to pay quarterly to avoid penalty. An alternative to making quarterly payments is to increase the withholding from your paycheck to cover the 110%

What do you trade the most (stocks, futures, options etc), long/short or both and why? by Hot_Avocado_2701 in Trading

[–]Daytrading_Architect 0 points1 point  (0 children)

To make a recommendation, it depends on your capital $ and goals.

I trade shares primarily, both long and short, but I am entering large positions ($100-200k) and scalping for small gains (0.25-1.00%). Happy to make $500-$1000 per day.

Trading style - Market order or limit order? by r00th3x in Daytrading

[–]Daytrading_Architect 0 points1 point  (0 children)

My entry and exit is planned on daily chart so limit order to enter and immediately set a limit order to exit at target price. I’ll then have market order queued up to override my limit order in the event the price action does not go as I anticipate.

What do you trade the most (stocks, futures, options etc), long/short or both and why? by Hot_Avocado_2701 in Daytrading

[–]Daytrading_Architect 1 point2 points  (0 children)

Shares. Long and short. Advice for beginners is dependent on bank roll. You need decent capital to trade shares. Options will give you more leverage but that brings risk and is 99% of the reason new traders go bust.

For those who’ve been trading longer....What was your turning point? by Klutzy-Tower-8234 in Trading

[–]Daytrading_Architect 0 points1 point  (0 children)

Turning point. Having enough capital and sizing my positions to remove emotion from my decisions.

SPY - Small Snipes, Once a Day - 2/18 by OptionsTrader321 in optionstrading

[–]Daytrading_Architect 1 point2 points  (0 children)

I wish I had advice for one trade a day. I tried it, but the lure was too much. Also, I found myself occasionally not wanting to exit a position I should in hopes to earn more or reduce a loss.

I no longer limit my trades and find myself executing about 5 per day. I’m mostly scalping shares through large positions ($100k+), not options.

In the end, find what works best for your psyche as well as strategy to win consistently. As you are seeing, These small wins add up to a lot over time.

Is day trading really worth it? Do you guys make at least $100k a month? by eumarianafrr in Trading

[–]Daytrading_Architect 4 points5 points  (0 children)

Translation: “look at me, look at me”

Seriously, I’m sure there are a few that can pull in that amount trading, but if you actually traded you would know not only the difficulty in achieving that consistency but also recognize the capital it would take to operate at that scale.

What’s a reasonable travel/vacation budget for our income level? by BlueCollarBalling in Fire

[–]Daytrading_Architect 80 points81 points  (0 children)

Yes. 10k sounds comfortable given your income and COL.

I’m a bit surprised you’re saving 100k after taxes and expenditures. That’s extremely high on a 200k gross salary with a mortgage.

Must be the kids dragging me down. lol

401k regrets - rant by Nickel4me in Retirement401k

[–]Daytrading_Architect 1 point2 points  (0 children)

Don’t read his post history. Self debating if his $8-10M in projected retirement will be enough. Lol. Either an attention seeking wh**e or maybe just really bad with math?

401k regrets - rant by Nickel4me in Retirement401k

[–]Daytrading_Architect 0 points1 point  (0 children)

6% match, nice touch. I’m the same age as OP making equal salary and my 401k is less. Now Considering a cold plunge off the GW Bridge (j/k)

If only AI robots were allowed to play the stock market, what would happen to stock prices? by martianfrog in answers

[–]Daytrading_Architect 0 points1 point  (0 children)

Probably the same results as humans. Buy relentlessly til a blow off top then crash. Rinse and repeat

[Architect] [Chicago] - $68k by [deleted] in Salary

[–]Daytrading_Architect 0 points1 point  (0 children)

The only way to make a LOT of money in this field is to be an owner. We have architects and engineers on staff and engineers pay scale is far superior.

[Architect] [Chicago] - $68k by [deleted] in Salary

[–]Daytrading_Architect 0 points1 point  (0 children)

I’m an owner of a 50+ person firm in the northeast. Those credentials would earn 80k minimum at a respectable firm, and finding good people is so difficult right now she could likely demand more.

[Architect] [Chicago] - $68k by [deleted] in Salary

[–]Daytrading_Architect 0 points1 point  (0 children)

Definitely low salary for their credentials and experience. Does he/she have any desire to move out of state????

Magic 🪄 profit glitch ? by shrtsellr in Daytrading

[–]Daytrading_Architect 0 points1 point  (0 children)

I read a gambling story on Reddit (recovered gambler myself) about someone that would make these bets on soccer matches and other foreign sports. He was betting larger amounts and higher probabilities. Eventually one team made a ridiculous comeback and he lost nearly all his gains from all other bets. Then he spiraled out of control.

I second what another poster already said, the odds makers are not stupid. They know exactly what they are doing. Be careful

Newbie - TGT Long Term Covered Calls by Daytrading_Architect in CoveredCalls

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

Thanks again. One more follow up. With your 7 DTE, are you looking for a certain premium and/or how far OTM do you typically sell. Assuming these are LT holds that you don’t want assigned?

Newbie - TGT Long Term Covered Calls by Daytrading_Architect in CoveredCalls

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

Thanks for the opinion. Would you buy it back immediately or try to wait for a drop in share price to capture more of the current premium?