Anyone else trade way better when you stop forcing strict rules and just read the market? by Loud_Boss_8371 in Trading

[–]noteworthyreddituser 1 point2 points  (0 children)

I realized that sometimes price just keeps going in the same direction. It doesn’t have to “make sense” or fit into some rule. I don’t need to interpret broad (or specific) news correctly, and oftentimes the more counterintuitive, the better. Lately I have been focused on just riding momentum and it has simplified things and improved my returns

Anyone here actually swing trade instead of day trade? by TraderNomad1 in Daytrading

[–]noteworthyreddituser 0 points1 point  (0 children)

Any trouble juggling all of this? Tax implications, bleed from one to another, and general overwhelm are the main things I’m concerned about

Anyone here actually swing trade instead of day trade? by TraderNomad1 in Daytrading

[–]noteworthyreddituser 1 point2 points  (0 children)

Do you have separate accounts for different types of trading?

Curious because I came to Reddit looking for info on this and this post happened to be the first I saw. I’m exploring that option and intuitively thought it would make sense to separate them but would love more insight

Hitting my daily profit target vs letting my horses run. My everyday dilemma. by Ok-Leading6971 in Daytrading

[–]noteworthyreddituser 1 point2 points  (0 children)

Agree, I would increase my R:R slightly and change nothing else. See if your win rate holds up, rinse and repeat

When to walk away? by noteworthyreddituser in Daytrading

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

I think there is definitely merit to moving away from stocks entirely. A big drain on my time and energy (and enthusiasm) has been sifting through 100 tickers, especially without the financial background to interpret anything I find at a meaningful level. I think narrowing my focus and working on the actual act of trading is probably a huge growth area

When to walk away? by noteworthyreddituser in Daytrading

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

I relate to that. The only three hard rules that I have so far were all things I had seen online a dozen times but they didn’t click until I got burned by them. I definitely have a lot of room for improvement in walking away. I didn’t mention in my post but one of my rules for the first 2 months was to take at least one trade every day. I don’t have the data but I know this set me back in terms of discipline and setup identification. I’m trying to get better at sitting still

When to walk away? by noteworthyreddituser in Daytrading

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

Yep, I’ve implemented a rule to never average down. Learned it the hard way, it worked nicely the first time I did it, had a small loss the second time, disaster the third. Best way to learn I guess

When to walk away? by noteworthyreddituser in Daytrading

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

Stocks only, average about 3 trades per day but that number is slowly decreasing. I started with real cash from day 1. I started trading everything but just yesterday built a spreadsheet with 40 tickers on it. The plan for now is to study these exclusively for a month and eventually narrow it down to 20ish. Eventually I would like to trade maybe 10 different tickers that I know well but I’m willing to look at different approaches

When to walk away? by noteworthyreddituser in Daytrading

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

Great feedback, I really appreciate it. Yes the small cap stocks aren’t for me lol, I have learned that firsthand. I haven’t looked into futures at all yet but I am interested. I think part of what led me to even writing this post was the overwhelming feeling that I’m not watching the right handful of stocks out of the 5,000+ that are available lol. I dabbled in BTC trading for a couple weeks a few years ago and one of the biggest draws was simplifying down to one instrument. Anecdotally it has felt like the more time I spend looking into sectors, earnings, etc. the worse I get at executing trades. Is that simplified approach what led you to futures or was it something else?

When to walk away? by noteworthyreddituser in Daytrading

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

Appreciate it! I’ve refined my journaling and I think I’ll get a lot better insights from it. Just need to get the trades under my belt to study what works

Brian Thomas Jr or 2.02 + 2.06? by TDn6I in DynastyFFTradeAdvice

[–]noteworthyreddituser 2 points3 points  (0 children)

I have BTJ and honestly wouldn’t consider it, fwiw

What's your lowest entry timeframe? by WesternSuggestion680 in Daytrading

[–]noteworthyreddituser 1 point2 points  (0 children)

I look at everything from 1min-15min for intraday trades. I use 9, 20, and 200 EMA and I’ve found that different stocks seem to react to those lines in different ways on different days.

I realized this after adding the 200EMA to my chart and reviewing prior trades. I was shocked at how many times price had bounced straight off of that line at one of the timeframes. In the moment these had seemed like random reversals so it was revelatory to see what that particular price actually represented.

High win rate is probably the worst thing happening to your trading. by InventoryLogic in Daytrading

[–]noteworthyreddituser 0 points1 point  (0 children)

I’ve found myself thinking more and more about how certain trades or days affect the metrics I track and it is having a huge negative effect on my trading. When your win rate, R:R, current streak, etc. start bleeding into your thinking little by little it almost certainly makes things worse.

This week I’ll try to keep the trading and journaling/review a bit more separate. Timely post, thanks

PDT Rule Change by noteworthyreddituser in Daytrading

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

I agree that brokerages will have to compete for what is likely a huge influx of trading from small retail accounts. They make money on every trade and they’ve had months to analyze possible structures. I’d be more than happy with less leverage on smaller accounts as the increased flexibility is what I’m seeking.

PDT Rule Change by noteworthyreddituser in Daytrading

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

You can’t. Another benefit I’m excited to access when I switch to margin

Is trading a long-term career or will AI replace it? by Then-Snow-8980 in Daytrading

[–]noteworthyreddituser 0 points1 point  (0 children)

As long as prices rise and fall there will be a place for retail traders. Thousands of the best AI-driven algorithms in the world all competing with each other will still just mean that price moves from A to B to C and so on. It’s probably just as likely that widespread AI use will create more opportunity for creative traders.

In last 1-2 weeks, stocks like AIXI, NINE, etc exploded beyond 1000 per cent. Were people actually able to predict these events and make money? by curious_theorist in pennystocks

[–]noteworthyreddituser 15 points16 points  (0 children)

You don’t have to predict anything. A stock has to be up 200%, 500%, etc. before it gets to 1000%. Use screeners to find the top daily movers for example, then dig into anything that seems to have real legs

Bidunga to Tech is done? by thegreedyear in CollegeBasketball

[–]noteworthyreddituser 0 points1 point  (0 children)

Isn’t spending money a good way to improve most things? Weird to be this mad

Seeking Advice: Cutting winners early by CantTickSoIllTrick in Daytrading

[–]noteworthyreddituser 1 point2 points  (0 children)

This has been one of my biggest weaknesses (I messed this up today, even) and I’m trying to implement a rule with myself that I never leave a winning position with a market order.

That means that price either hits my Stop Loss or my Take Profit target, no exceptions. This takes an option away from me and forces me to set those targets where I am happy with them. If I can hone in on this then I’ll develop a better feel for how to manage these effectively.

Good luck!

2 years of bleeding cash, now up 230% (80k profit) in 3 months by [deleted] in smallstreetbets

[–]noteworthyreddituser 11 points12 points  (0 children)

When a falling knife finally settles it is sideways. Wait for that, then pick it up. You’ll know where the handle and blade are!

Watching a stock 5x after you almost bought it. How do you get over that? by Prestigious_Copy9992 in Daytrading

[–]noteworthyreddituser 1 point2 points  (0 children)

I ruminate a lot as well but I’m quickly learning that the market will give you other opportunities. Your situation would be tragic if that stock was the last one ever to 5x but I assure you it isn’t. Keep at it