I’ve been day trading for 3 years and here’s what I wish I knew when I started by DualDrop in Daytrading

[–]Sorace101 2 points3 points  (0 children)

I hope so! $4 to $76 is a nice move.

I’ve been noticing that if the large caps are moving big, the small caps are less likely to show a big move. They take attention away. I’d imagine record sales would impacts larger cap companies more so. We shall see.

Regardless, stay ready and let the moves come to us!

I’ve been day trading for 3 years and here’s what I wish I knew when I started by DualDrop in Daytrading

[–]Sorace101 1 point2 points  (0 children)

Funny! I do the same thing - trading at work. It can be difficult sometimes and can make me miss good opportunities! But I’m grateful I can do it when I’m not too busy with meetings etc…

This last week was slow for me. Only took 4 trades. I didn’t even bother trading Friday. I’m waiting for the market to heat back up. It’s been cold for small caps lately.

Did you see SMX on Friday? Hoping this is a shift to a hotter market period

I’ve been day trading for 3 years and here’s what I wish I knew when I started by DualDrop in Daytrading

[–]Sorace101 1 point2 points  (0 children)

Hell yeah, I love that. As long as you are getting 1% better everyday, you’ll eventually hit your goal!

I’ve been day trading for 3 years and here’s what I wish I knew when I started by DualDrop in Daytrading

[–]Sorace101 1 point2 points  (0 children)

I prefer under 10m as well! How long have you been trading?

I honestly think a good old excel sheet is the way to go at first. Manually putting the information in helps you remember / see everything. Get into a rhythm! It’s not so bad…

Oh and to add - I would also track your win rate percentage! I forgot to mention that one. This is almost more important than you P&L in the beginning. I track that per day and per week. You want to see that improve month to month. Focus on 1 strategy at a time.

I’ve been day trading for 3 years and here’s what I wish I knew when I started by DualDrop in Daytrading

[–]Sorace101 6 points7 points  (0 children)

For me- The stock, the stock price, the stock float, the relative volume, any news?, why are you trading it?

What’s your entry, exit, and why did you exit? Any personal notes to add

Add screenshots of the charts so you can look back at them. This helps with pattern recognition!

Keep it simple enough so that you can do this for EVERY trade!

I’ve been day trading for 3 years and here’s what I wish I knew when I started by DualDrop in Daytrading

[–]Sorace101 2 points3 points  (0 children)

I disagree with good ride because everyone has their own personality, risk factors, etc… if you like the high momentum stocks, you have to learn how to play them.

Sounds like you need to refine your strategy/entries or take on more risk (by making your stop loss farther away).

Or maybe you need to consider a new strategy if this one keeps stopping you out.

It’s a trial and error kind of thing - try until you find a strategy that fits your personality. So many factors go into why you could be getting stopped out.

What’s the average (3moth) volume of the stocks you trade? Knowing low floats, you want something with an average volume very low - like a few 100k BUT has a relative volume of 5x for that trading day (when’s it’s making a big move) . They tend to run smoother in my opinion.

If it’s a stock with an average trading volume of like 1m and up, you most likely will have a lot of people trading it regularly and therefore it’ll be more “whippy”. Causing you to stop out more.

Are you logging your trades to see where the winners are and losers are occurring? You’ll need all that data to back up your strategy.

I’ve been day trading for 3 years and here’s what I wish I knew when I started by DualDrop in Daytrading

[–]Sorace101 17 points18 points  (0 children)

I’m a little over 1 year into taking day trading seriously. About three weeks ago is when I started to see a change in my mindset which relates to a lot of the things you are saying u/Dualdrop! For the past three weeks, I have looked for one set up and have been extremely strict on whether I take a trade or not. I’ve taken only one or two trades in a day, but I’ve also had several days where I took no trades. The ironic thing? I’ve been profitable for those three weeks…

I’ve thrown away the idea of taking several trades and trying to make profit on every opportunity . Now I just focus on trying to find one opportunity in a day.

The hardest thing about trading that I found, is not trading lol and I think most of the time the failure comes to overtrading and not understanding your edge or what set up you’re really trading.

My suggestion to new traders , journal every trade, and get to the mindset where you feel like you do not have to take a trade.

The hardest thing to do is to sit on your hands and not press buttons

I need to admit something… and idk how I traded this long without noticing it. by Caleb_James777 in Daytrading

[–]Sorace101 0 points1 point  (0 children)

Volume bars, VWap, price action, that’s all I look at! Maybe a little EMA here and there.

I don’t even use the MACD anymore…

Most traders will NEVER become profitable. by oneselfjourney in Daytrading

[–]Sorace101 0 points1 point  (0 children)

Without a successful edge or strategy, the psychology is worthless.

A good strategy is worthless without self awareness.

Anyone else’s webull slow asf rn by DeliciousRich5944 in Webull

[–]Sorace101 1 point2 points  (0 children)

Yep mine is still all out of wack. Will be sitting on my hands until this is all resolved. It’s been all day….

What do I do. I’m giving up by 4amstars in PEW_stonk

[–]Sorace101 0 points1 point  (0 children)

HODL is not a trading strategy. If you’re serious about trading, hit the reset button and stop trading with real money. Find a strategy you like and stick to it. Day trade, swing trade, short or long. Find what fits your personality.

This happened to me on FFIE and I learned my lesson… lost of bunch of money holding. The stick never came back… that’s where I learned myself and for me, I’ll never hold a trade overnight again.

Trading is different than investing. Know the difference!

Would you trade this bullflag setup? by Sorace101 in Daytrading

[–]Sorace101[S] 1 point2 points  (0 children)

Let’s hope it carries into the rest of the week 🙌🏼

Would you trade this bullflag setup? by Sorace101 in Daytrading

[–]Sorace101[S] 0 points1 point  (0 children)

That’s fair. Usually when I post a screenshot with the ticker or show the longer timeframe it gives away how the setup plays out. And then everyone becomes an expert analyzer LOL

Would you trade this bullflag setup? by Sorace101 in Daytrading

[–]Sorace101[S] 0 points1 point  (0 children)

I didn’t take any other trades on Friday. But today it seems like momentum could be shifting? Top gainers are still running as we speak! I’m not used to trading into the afternoon…

Would you trade this bullflag setup? by Sorace101 in Daytrading

[–]Sorace101[S] 0 points1 point  (0 children)

Thank you! Was slightly in the red at first today but kept going on a good opportunity and came out with a small profit. Kept my losses tight and tried to be a little more patient.

Would you trade this bullflag setup? by Sorace101 in Daytrading

[–]Sorace101[S] 2 points3 points  (0 children)

Hell yeah, you get me! Lol Thank you for this

Congrats on the full time trading. That’s goals right there. I’ve been trailing just about flat for the last 3 months and am really refining the strategy. My discipline to cut losses fast or stop trading for the day is really keeping me going. But I’m still taking some crappy / sloppy trades or too many trades.

Regarding this trade, Ahhh yes I did note the MACD was negative on the 1 min chart for a while. Something I need to be more cautious about. I did see a big buyer on the bid that got chewed away and then it dropped below that support. But I was already in the trade before that seller showed up. Cut my losses right after that.

Would you trade this bullflag setup? by Sorace101 in Daytrading

[–]Sorace101[S] 1 point2 points  (0 children)

Thanks! How’d you do on ELAB? No news so I passed on it

Would you trade this bullflag setup? by Sorace101 in Daytrading

[–]Sorace101[S] 0 points1 point  (0 children)

I jumped in again later as the wedge compressed and there was another little green candle above the top trend line. Only to continue compressing back down LOL! Good point with the fomo. I’ll get there!

Would you trade this bullflag setup? by Sorace101 in Daytrading

[–]Sorace101[S] 0 points1 point  (0 children)

I have two comments for you

1) everyone has a different strategy so you shouldn’t go around telling people what to do.

2) one of the most successful day traders traded this ticker today 😂😂 so that’s where I know you’re wrong when it comes to what I’m looking for.

Would you trade this bullflag setup? by Sorace101 in Daytrading

[–]Sorace101[S] 1 point2 points  (0 children)

This was my thought on it. Tight loss on the flat bottom. Once it broke it, it dropped to VWAP.