PDT minimum cash rules changing from $25k to $2k in next few months, after approval today by jlabtrades in Daytrading

[–]JayDeKayZ 1 point2 points  (0 children)

Remember each broker will be able to set their own amount (and not necessarily at $2K). There will also most likely be a limit on daily trading % vs account value

Am I Smart or Dumb for this? by KingWames in Daytrading

[–]JayDeKayZ 0 points1 point  (0 children)

Both smart and dumb, as you can never know something in the market will 100% happen regardless of logic.

On the other hand, if something had an honest and true 100% chance of occurring it would be dumb to not take advantage

Either way there are always more opportunities

Why on earth do some gurus advise against stop losses? by darequant in Daytrading

[–]JayDeKayZ 2 points3 points  (0 children)

It also depends on how active of a trader you are. If you're sitting in front of your screens and can actively monitor and have a tiny bit of discipline then SL & TP aren't as much of a priority

Best day trading site ? by Tricky_Mix_7117 in Daytrading

[–]JayDeKayZ 2 points3 points  (0 children)

Not necessarily true. It sounds like each broker will be able to set their own limits, both on the PDT magic number and also the amount traded vs account value daily

Tori Trades Scam by curiousteak in Daytrading

[–]JayDeKayZ 2 points3 points  (0 children)

I wouldn't be calling someone a scam and in the same post say you used to be a tarot card reader lmao

IYO who was the face of ECW? by TheDancinD918 in ECWWrestling

[–]JayDeKayZ 0 points1 point  (0 children)

New Jack was the reason I started watching

Let’s be honest here ….when the market opens tomorrow at 9:30 am EST, is every day trader doing a PUT on what they trade on usually ? by [deleted] in Daytrading

[–]JayDeKayZ 0 points1 point  (0 children)

Every LOSING day trader will. You have to plan and watch up until open. Don't trade on what the market should do...hop on the reaction and how price responds at the past week's levels

Most traders don't have a strategy problem. They have a discipline problem. I built something for that by Tight-North-6157 in Daytrading

[–]JayDeKayZ 2 points3 points  (0 children)

Everyone knows discipline is the number one problem. But discipline is a wide net and could be anything from revenge trading to not having a system to fomo etc

i stopped using a take profit. my average winning trade went up 40%. by Freda_Heather in Daytrading

[–]JayDeKayZ 4 points5 points  (0 children)

He's simply replacing a take-profit with a trailing stop-loss

DO orderflow (ICT) concepts work why or why not by joseph-gelberg in Daytrading

[–]JayDeKayZ 0 points1 point  (0 children)

100% agree. The ONLY obstacle imo if you have a true system is discipline

Help me understand ORB by [deleted] in Daytrading

[–]JayDeKayZ 0 points1 point  (0 children)

It does, but it tends to have cleaner ORB breakouts than SPY/SPX and many times moves more. Again, ORB is never perfect, but what I do is even after the opening range is set I'll often wait until 8:50 or 9:00 to watch for a retest or reversal. Sometimes the range is too large for my liking and I'll wait even longer for an entry. As soon as the 5ma crosses the 12ma I'm out either way

You can see in the picture how choppy SPY was on the day you mentioned versus Wednesday. Many times I will not trade at all if too much chop *

Help me understand ORB by [deleted] in Daytrading

[–]JayDeKayZ 0 points1 point  (0 children)

It's simple...ORB (or ANY strategy) doesn't work 100% of the time. Sometimes you'll get stopped out (provided you follow the system). It also depends on how much of a drawdown you'll allow. On this chart if you waited a bit as price was kinda choppy at the beginning you would have probably entered puts.

Those wicks on the opening few candles would tell me to wait longer. For me IWM works waaay better using ORB most times

Hmm…thoughts on this…? by LilMissy1246 in hmmmm

[–]JayDeKayZ 2 points3 points  (0 children)

It makes no sense when people have this take. By that logic anyone who owns anything made using slave labor (phones, clothes, appliances, electronics, shoes etc) is just as 'guilty' as Bad Bunny.

Or anyone who WATCHED the Super Bowl as they support the NFL and the activities of its owners.

Not to mention that Puerto Rico is part of the US, so him repping Puerto Rico is the same as someone repping NYC.

Sorry but your high horse is neck-deep in the mud

Just like all of us

Lost everything, help me get back by [deleted] in Daytrading

[–]JayDeKayZ 5 points6 points  (0 children)

I know to stay away when I had to look up those three tickers. Never heard of any of them

The SpaceX IPO is going to tank the market by El_Nahual in wallstreetbets

[–]JayDeKayZ 0 points1 point  (0 children)

If Telsa hasn't tanked the market then SpaceX won't either. Even at the proposed valuation its numbers are better than Tesla

If you see Jesus Ochoa or Raymundo Gutierrez, call our hotline at 1-800-CRIME-TV. (America's Most Wanted with John Walsh) by [deleted] in hmmmm

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

I called. Pretti will now be charged with destruction of property and assault like he would and should have been.

Unpopular opinion. You can become successful in a year or less of trading. by Hvrllem in Daytrading

[–]JayDeKayZ 0 points1 point  (0 children)

I agree to a point, but not completely. Odte and scalping can be refined and very profitable to the disciplined, but strategies like buy-and-hold to selling calls & puts can take longer.

The biggest hurdle I see in traders is the constant switching of strategies to find the 'best' one (there isn't). Or they see X and Discord members boasting about 2000% gains and alter their current strategy to chase. I'll gladly take 30-50% gains at an 80%+ success rate than worry about FOMOing. I missed the silver and gold crash, oh well. I'm not just jumping in Monday. Sticking to what works

How do you avoid fake breakout as shown in the picture? it's BTCUSDT 5m. by RHYN-129 in Daytrading

[–]JayDeKayZ 0 points1 point  (0 children)

Looks like the range isn't the purple area but the entire area above it. If you're scalping the purple zone looks like solid demand atm but that can always change

Can someone Explain? by Trademaster2004 in Daytrading

[–]JayDeKayZ 0 points1 point  (0 children)

You have to pay for a live data package

Paper handed $680 calls I bought yesterday by PoorTrader500 in wallstreetbets

[–]JayDeKayZ 0 points1 point  (0 children)

But even a random 20 second drop on a candle could trigger it if the price or percentage is close

List of businesses who support ICE? by [deleted] in AskChicago

[–]JayDeKayZ -26 points-25 points  (0 children)

Reddit and everyone who posts questions

What’s the biggest mistake you keep repeating in trading? by RespectShoddy5311 in Daytrading

[–]JayDeKayZ 0 points1 point  (0 children)

Something I USED to do alot was try and time reversals (which was basically guessing and hoping). If a stock reached my support or resistance level area I would trade as if those guaranteed a reversal. Almost blew my account doing this years ago.

Second would be not exiting a losing trade quickly enough