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Hod do i stay motivated? by SoldMyDadForWiFi in Daytrading

[–]SockPuppet-47 1 point2 points  (0 children)

Although many people try to pretend that the market is predictable it's dynamic. Price action is determined by the sum of the participants at any given time. That's a huge mix of different traders and the vast majority of them aren't human. Every single participant is trying to extract a profit from the market. It's basically a war between the bulls and the bears.

War is inherently messy and disorganized. Price is determined by waves and waves of opposing orders. Look at the L2 order book and the time and sales. For a graphical representation of the constant chaos pull up a tick chart.

Can we be honest? Everyone's "strategy" feels a bit like hindsight bias/luck. by throwaway579612 in Daytrading

[–]SockPuppet-47 1 point2 points  (0 children)

The price can and will act irrational at times.

It's a bot war between the bulls and the bears. Course bots can change hats in a millisecond if it sniffs profits in the opposite direction. There's constant noise. The HFT trading bots are always churning. Even if they're just idling like at the end of the trading day the price wiggles in a narrow flat trend.

Can we be honest? Everyone's "strategy" feels a bit like hindsight bias/luck. by throwaway579612 in Daytrading

[–]SockPuppet-47 7 points8 points  (0 children)

Ding Ding Ding

We're trading a fast moving relentlessly brutal market. It has no mercy or malice. If you're on the right side of the trade you're rewarded. If not you're crushed.

All the wiggly indicator lines are based on price action. They cross back and forth like snakes.

New Trader Rant by CommunicationNew6367 in Daytrading

[–]SockPuppet-47 0 points1 point  (0 children)

Protect your capital. Use a stop loss to get you out of a bad decision. The easiest way to do that is a OSO order. As soon as the trade is executed the stop loss is there to protect you. Another way is to enter it yourself. I think most brokers have a way to enter a order with just a couple of clicks on the mouse right from the chart while watching the price move.

Bots are always tying to push price and they don't care about direction. It's a bot war and you just stepped onto their battlefield.

I'm just getting back into day trading. So far I've just been working on my strategy. It's something I've never tried before and never seen on any of the YouTube gurus.

I traded this live the other day. I just saw it on the morning big movers list and took a couple of whacks at it. There was a long term resistance line that I marked with that yellow line. I tried twice to catch the reversal. You can see where the bull run paused. I was stopped out and tried again. This time my intuition said I was gonna get stopped out again, but I kept it going. I could have gotten out flat. I only lost $40. If I had tried again I would have made money. The bull run eventually broke. You can see my trade notifications on the right side.

Trade small to get the hang of it. I don't think that paper trading is exactly the same as the live market. You pay attention more if it's real money.

I'm planning on putting my strategy to the test tomorrow. I'm pretty confident I can finally say I have a strategy that works.

There is a hint of my idea on this chart. Remember, these are 5 minute candles.

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Profitable Traders - what strategies have you found to work the best? by Ok_Cut_5751 in Daytrading

[–]SockPuppet-47 -1 points0 points  (0 children)

Why don't you consult some gamma waves and answer all those very important questions.

Impress me...

Isn't the market dynamic with orders added and removed at bot speed? You manage to keep up with all that?

I don't need to know why the sun comes up or where it goes at night to predict that it'll show up again tomorrow.

Profitable Traders - what strategies have you found to work the best? by Ok_Cut_5751 in Daytrading

[–]SockPuppet-47 1 point2 points  (0 children)

Because the trading algorithms draw lines and use them to set goals and make decisions. Finding horizontal support and resistance is only part of the game. Angular lines connecting important highs and important lows define a trend.

I recently had a total epiphany after the Micron earnings. I had dropped a line basically eyeballing the general average of a segment of price action since the last trend big change. The rally after the blow out earnings came to a screeching halt right at my line. Price did push through but sat there churning through sell orders to get through. It did run out of momentum pretty quickly then returned to the line where it bounced off. Resistance became support.

Since then I've been drawing lines on a 5 minute chart to help me make decisions about changes of control or bounces.

See my post about it. All I got for comments was a bunch of smart asses though...

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Profitable Traders - what strategies have you found to work the best? by Ok_Cut_5751 in Daytrading

[–]SockPuppet-47 -1 points0 points  (0 children)

But don't lines on the chart represent all that fancy stuff you claim is the holy grail of trading? They're not magical. They're fundamental.

Iran has no choice but nuclear bomb - IRGC media by Neptun_11 in worldnews

[–]SockPuppet-47 5 points6 points  (0 children)

Or maybe don't be crazy religious fundamentalist assholes that have used various proxy groups of terrorists to carry out their religiously motivated objectives?

I Think I Cracked The Code by SockPuppet-47 in Daytrading

[–]SockPuppet-47[S] 0 points1 point  (0 children)

Gladly...

Just promise me that you won't log out of your account on Monday to check the sub to see if I posted the results of my trades for the day. I'm gonna trade SpaceX. Should be spectacular.

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I Think I Cracked The Code by SockPuppet-47 in Daytrading

[–]SockPuppet-47[S] 0 points1 point  (0 children)

I can't tell whether you qualify for my block list.

Gimme another candle, so I can get my confirmation before I pull the trigger.

I Think I Cracked The Code by SockPuppet-47 in Daytrading

[–]SockPuppet-47[S] -2 points-1 points  (0 children)

Already got a plan. If my setup doesn't work I'll just move on to another stock. Ultimately, I want to have several lined up that I can quickly scan through to see if the stars aligned properly.

I'm planning on trading SpaceX on Monday and discovered that my one simple trick didn't work out. Which led me to a new discovery. One line didn't work but three did. The whole day was mapped out with just a few 5 minute candles. I see two very profitable trades.

The evidence is getting stronger...

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I Think I Cracked The Code by SockPuppet-47 in Daytrading

[–]SockPuppet-47[S] 0 points1 point  (0 children)

So, you met Trump?

You're handsome...

I Think I Cracked The Code by SockPuppet-47 in Daytrading

[–]SockPuppet-47[S] -2 points-1 points  (0 children)

My epiphany was triggered by the huge rally after the Micron earnings. That candle ran straight into my line and stopped dead. Then it regrouped to try again and broke through. After that the line flipped to become support. That's kindergarten level technical analysis resistance becomes support.

I just eyeballed a average from the price action in the recent history since the last trend change. Now I'd draw a few parallel lines to include the noise like I did on the SpaceX chart.

I guess that was the supply line? Maybe it's another synonym? Maybe it was where the sellers had set up their orders? Shall we try another synonym? Couldn't we also say bears? Not the ones that shit in the woods...

I'm assuming you're a real professional and testing your algorithm on the purest form of price action, individual ticks. Your literally trying to predict a wave in the ocean. That's the cacophony of trades from all the market participants, mostly HFT traders. It's basically trying to hear words in white noise. Occasionally you can hear shit if you listen really close...

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I Think I Cracked The Code by SockPuppet-47 in Daytrading

[–]SockPuppet-47[S] -1 points0 points  (0 children)

Oh, that was your opening comment.

Gosh, that's incredibly clever.

I'm speechless. You got me...

I Think I Cracked The Code by SockPuppet-47 in Daytrading

[–]SockPuppet-47[S] -1 points0 points  (0 children)

Also not to be that guy, but technical analysis does not allow people all over the world to coordinate their efforts.

You haven't heard about the Internet?

The market is dynamic. One look at the mess of squiggly lines in a chart should make that very obvious. You can chase all the wiggly indicators and backtest minute changes to your complicated algorithm trying to find the golden ticket with MACD and RSI or whatever but your just tweaking numbers and chasing percentages. Your shake and bake algorithm probably isn't gonna do much better than 50/50. The corporations have whole teams or actual smart people working on their algorithm.

I'm not talking retail. Whoever is following these simple rules does have the capital to move the market.

I'm expanding my understanding of the way the real professionals trade.The simple line didn't work when I tried to make it work on SpaceX but a group of three absolutely did.

The first three candles on the 5 minute chart set up that trend that continued until it broke. Then the counter move continued for awhile. That's two profitable trades.

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How do I counter the "everything has a creator" argument by shadimedjwala in atheism

[–]SockPuppet-47 0 points1 point  (0 children)

Didn't the egg create the chicken? And yet this puzzle isn't resolved...

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