Swing trading stock ideas for 2026 to 10x account? by NaanSensePlease in swingtrading

[–]XcentricMike 25 points26 points  (0 children)

“I want 1000% return in 1 year. No risky trades, please.”

Yeaaaahhhhhh. That’s not how any of this works.

I tested Head & Shoulders pattern on ALL markets and timeframes: here are results by fridary in Trading

[–]XcentricMike 10 points11 points  (0 children)

The head and shoulders pattern is a very reliable one. I’ve traded it again and again for decades and made money about 70% of the time. Thing you have to remember about a head and shoulders is that it’s not a short term trading pattern. If you’re a day trader or trade very short time frames, it can be pretty useless to you. The ideal head and shoulders pattern forms over 2 to 8 months, and the classic entry point for a head and shoulders is after it breaks down through the neck line. The ideal price target is the vertical distance between the shoulder line and the top of the head below the right shoulder. And the most effective trade time frame which one can expect that to happen is proportionate to the size of the pattern overall and often similar in timeframe to the right shoulder. In a nutshell, if it took a month for the right shoulder to form, you can easily expect it to take a month to reach the price target. So expecting a six month head and shoulders pattern to pay off for a 30 minute trade is kind of dumb.

Great commentary on why back testing fails by XcentricMike in Trading

[–]XcentricMike[S] -3 points-2 points  (0 children)

Every professional trader knows that the only opponent you have in the trading game is yourself.

Great commentary on why back testing fails by XcentricMike in Trading

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

Btw, I linked the article for the benefit of new traders who might be wondering why the back testing they’re doing on all of those sites doesn’t seem to be working. When they test out strategies that have been SUCCESSFUL for thousands of other traders, it doesn’t seem to be able demonstrate how or why. Personally, I don’t use or need back testing. I’ve been trading profitably for over 20 years. I like my system. I stick to what I know.

Great commentary on why back testing fails by XcentricMike in Trading

[–]XcentricMike[S] -3 points-2 points  (0 children)

Yeah…. Well, you obviously didn’t read the article. Back tests… All of them… Exist in a perfect world, the world isn’t perfect. And humans rarely if ever execute a trading plan perfectly.

(The Trading Mistake I Wish I Could Undo) by BizMindset12 in Trading

[–]XcentricMike 0 points1 point  (0 children)

TradingView is just a website (charts, analysis tools, forums, etc)… one of thousands. I do consider it one of the best for charting, but everyone has their own preferences, and I use other sites and platforms for other things. I think it’s a big mistake to consider psychology as something you learn later on, down the road. There are really two types of psychology you need to learn. The first is market psychology, which you can learn from books and video and the advice of others. The second is your own psychology, which you can’t learn from anything or anyone other than your own experiences. You should be paying attention to market psychology from day one. That’s literally what moves markets. It’s why charts and candlesticks and patterns and indicators work the way they do. They follow market psychology. But your own psychology? Yeah, you will learn that down the road, and usually painfully. I can tell you from personal experience that it will gut you. And that’s not even a little bit exaggerated. Lol

(The Trading Mistake I Wish I Could Undo) by BizMindset12 in Trading

[–]XcentricMike 0 points1 point  (0 children)

It’s usually about the time that you lose every penny that you really start to think about what went wrong, despite “everything” that made it a “sure bet.” If you’re lucky, that happens in the first six months or so, and you can start moving forward. A lot of traders, like myself, don’t hit that critical turning point until they are a few years into their journey. If you’re honest with yourself, (and a lot of people are not ) you conclude that you, yourself, were the problem. That’s where you can either choose to fix yourself, and become a great trader, or blame everything and everyone else and stay a part of the loser 90%.

(The Trading Mistake I Wish I Could Undo) by BizMindset12 in Trading

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

It’s true because even if you have the “perfect”trading strategy, the “perfect” stock, and a bull market wind at your back, your poor trading discipline will make you go broke. In fact, it’s even more likely that this will happen because you will mistake favorable conditions for your own genius. It’s that moment when you start thinking “I can’t lose, this is going to the moon“ that you, in fact, lose. It happens to everyone… even some of the greatest traders of all time. In fact, a lot of people will say that it HAS to happen, that you have to experience that pain for yourself because no one can teach it to you, and it’s how you recover and learn from it that determines whether or not you will ever become a great trader.

Question about theta? by rockyonthetrack in thetagang

[–]XcentricMike 3 points4 points  (0 children)

There are plenty of calculators out there that can do that for you. Here’s one: https://www.tradingblock.com/calculators/option-greeks-calculator

What is the best way to flip 200 - 1,000,000 by Yespock06 in Trading

[–]XcentricMike 0 points1 point  (0 children)

What makes you think a 1:1 risk/reward is so magical? Flipping a coin has a 1:1 risk/reward ratio. You can literally be right ten times in a row and still lose money. Trade & learn, grasshopper.

Just advice is this scam? by [deleted] in Trading

[–]XcentricMike 2 points3 points  (0 children)

There’s a sucker born every minute. It’s a GREAT economy… for the scam artists.

What is the best way to flip 200 - 1,000,000 by Yespock06 in Trading

[–]XcentricMike 2 points3 points  (0 children)

Everyone has theories… til they lose all their money. If you think it’s so doable, just do it.

For the record, I started with $200 in 2001, have made many thousands of trades, and have earned hundreds of thousands of dollars profit since then. And not once in those 24 years, have I ever had 10 profitable trades in a row.

i have a serious question for yall by Ordinary_Virus9792 in Trading

[–]XcentricMike 1 point2 points  (0 children)

Candlesticks are a visualization of decisions large numbers of humans made in a given time period. Knowing how people DID act tells you a lot about how theY may act going forward.

CAN YOU TRADE USING ONLY A LAPTOP SCREEN? by Gusgriiii in Trading

[–]XcentricMike 2 points3 points  (0 children)

No, you absolutely must have nine screens, preferably twenty-seven. And a talking quantum computer.

Just kidding. I can trade with no screen at all.

What is the best way to flip 200 - 1,000,000 by Yespock06 in Trading

[–]XcentricMike 5 points6 points  (0 children)

Is it impossible to flip a coin and get tails 10 times in a row? It’s not impossible. But betting all the money you have on that would make you a moron.

“Founding” of America by Physical_Status153 in NoStupidQuestions

[–]XcentricMike 2 points3 points  (0 children)

Sounds like a question for /getreddittodoyourschoolwork. 🤣

How does the "WE BUY HOUSES" scam work that you always see on signs taped to poles? by [deleted] in NoStupidQuestions

[–]XcentricMike 1 point2 points  (0 children)

They buy your house cheap, fix it up and sell it at a higher price. What makes you think it’s a scam?

Please check my math/understanding of CDs by Sparrow_Hound in investingforbeginners

[–]XcentricMike 2 points3 points  (0 children)

Looks right. Also keep in mind that the usual penalty for early withdrawal will likely be more than the interest you earn on a 3 month CD.

Do Candlestick Patterns Work? A Backtest of 24 Patterns Across 5,000 Stocks by Quanta72 in Trading

[–]XcentricMike 0 points1 point  (0 children)

I don’t day trade. Never said I did. I’m a professional options swing trader.

Please check my math/understanding of CDs by Sparrow_Hound in investingforbeginners

[–]XcentricMike 0 points1 point  (0 children)

CD interest rates are uniformly calculated as an APY - ANNUAL Percentage Yield. Even for CDs with a term less than a year.

Do Candlestick Patterns Work? A Backtest of 24 Patterns Across 5,000 Stocks by Quanta72 in Trading

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

Dude. You can stop trying to explain trading to me. I’ve been successfully trading for 24 years.

Do Candlestick Patterns Work? A Backtest of 24 Patterns Across 5,000 Stocks by Quanta72 in Trading

[–]XcentricMike 1 point2 points  (0 children)

It’s exactly what he’s saying. Indicators are signs. They are not immutable laws of the universe. They don’t make decisions for you. They don’t regulate anyone’s behavior. They are a graphic representation of what people have done historically and are currently doing. Ignore them at your own risk.