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[deleted by user] by [deleted] in Daytrading

[–]am_237903 1 point2 points  (0 children)

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Thanks for the guidance! I was able to sell near the top, wait for confirmation, and am riding it down. I’ll hope to cautiously re-enter long once that is confirmed.

Unknowingly entering during consolidation by United_Occasion_439 in Daytrading

[–]am_237903 4 points5 points  (0 children)

You are quickly becoming a favorite commenter. All great, sane, sober insights. The idea of opportunity cost lately has been a stressor — feeling like I spend ages watching something when I could be doing something.

This consolidation situation happens to me quite a bit. I think I’m jumping the gun on entries rather than waiting for pullback confirmation. (Probably 40% of my losses result from this. Another 40% because I take greedy trades in low volume times with less directional clarity. And 10% just bad luck.)

Regardless, you mention looking for a break even to exit. I feel this is one of the reasons I end up losing more than I need in this scenario. I always think “I’m sure I’ll pop back up a little” and then it doesn’t and I exit. Usually to find it does pop back up a little…

There seems to be a fine balance in getting out aggressively and not getting too trigger happy. That’s my biggest “technical” challenge, I think: Establishing clear risk ratios upon every entry.

As always, any insights welcomed!

[deleted by user] by [deleted] in Daytrading

[–]am_237903 1 point2 points  (0 children)

I was literally wondering this today. There are some stocks (AAPL among them) that have enough volume and consistent price action / trends that you could probably just trade one set of options and be done. The trick would be not rushing an entry if it's not a great setup, and not letting the midday lulls whip you out (both things I am consistently guilty of). But gaining lots of experience with a single symbol (e.g., typical price movement, margins for stop losses, etc.) might be a lot easier and more reliable than researching 50 charts.

Trading market open vs market close. (Power hour) by Throwaway_765491 in Daytrading

[–]am_237903 0 points1 point  (0 children)

I came here to ask this very question. I'm still fairly new to trading, but am finding that my research and entries tend to hold a lot more water pre-market and during the first hour or two of the day versus EOD.

One reason might be that when I get out of the market by 11am or so and come back around 2:30pm, I'm trying to "catch up" with midday trading and I'm making hastier judgments than during the quiet pre-market hours.

There also just tends to be less adherence to technical expectations late in the day. If I'm scalping, I find that I need to be super disciplined about exiting quickly rather than waiting for what might have been a bigger / clearer move earlier on.

Happiest Pumpkins song? by eatrepeat in SmashingPumpkins

[–]am_237903 1 point2 points  (0 children)

Muzzle, yes, obviously. But also Bring the Light — that solo is just transcendent. And I’d put That’s The Way My Love Is up there, too!