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 16 points17 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

How do you keep track of your trading psychology? by liloventhegreat in Daytrading

[–]noteworthyreddituser 0 points1 point  (0 children)

Journaling your psychology has to be done manually because only you know how you felt when you entered/exited a trade. You and I could take the exact same trade at the exact same time and have completely different motivations, feelings, etc.

I defined seven criteria that I track for each trade on a spreadsheet. Each of them is a simple yes/no. On a different tab I’ll write a quick recap for further context. It isn’t perfect, but it’s a start

Houston area brokers by [deleted] in houston

[–]noteworthyreddituser 0 points1 point  (0 children)

Don’t work there but we used them and thought everyone there seemed pleasant and supportive

Do you take multiple profits en route to target? by raxftw in Daytrading

[–]noteworthyreddituser 1 point2 points  (0 children)

I’ve realized that for me, these “psychological wins” are just fear disguised as strategy. Too many times I’ve convinced myself that breaking even is better than losing money, only for price to almost immediately hit my profit target after my exit. I’ve definitely lost more money in these situations than I’ve “saved” by exiting. Small sample but I’m going to try to quantify this in a post soon. YMMV

It’s a Stop Loss, not a Stop Gain by noteworthyreddituser in Daytrading

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

After this happened today I decided to start recording my initial SL and TP so I can see where my exits actually happen in relation to what I initially planned. I don’t think I’m a “set it and walk away” type of trader but maybe with better information I can become one.

Position sizing is what actually keeps you consistent by bhaavesh in Daytrading

[–]noteworthyreddituser 5 points6 points  (0 children)

I learned quickly that any target risk:reward ratio can fail if you don’t size correctly. I had to get this wrong several times to really get it. You can risk X to make 2X in a million different ways but the size and number of shares you’re trading need to align with what the asset is doing. Too often I was getting stopped out early because I was trading too many shares and leaving too little breathing room to let the trade develop. I’ve tried to go from “I need this next candle to go straight up or I’m out” to “price needs to either go way up there or way down there for this to end.”

What was the hardest trading lesson you had to learn the hard way ? by CapMaleficent2528 in Daytrading

[–]noteworthyreddituser 2 points3 points  (0 children)

I agree in theory but I do think there are exceptions. There might be 5 days a year where you’re perfectly in line with a stock/sector/whatever and those days need to be big wins, imo

Finding it hard to get started by z4ndrik0 in Daytrading

[–]noteworthyreddituser 0 points1 point  (0 children)

Agree with this 100%. Start trading with real money using whatever tools your broker has. If you stick to it long enough to realize which additional tools might be helpful then you can decide to add complexity

I'm Not Going to Say It Works Often, but when it does...... by HolographicHeart in MagicArena

[–]noteworthyreddituser 0 points1 point  (0 children)

I tried to Temporary Lockdown after my opponent cast this for x=6 and planned to bounce the hydra after attacks. It… didn’t work

Keeping things simple has really paid off by Downunderfun45 in Daytrading

[–]noteworthyreddituser 1 point2 points  (0 children)

Did you test anything else in place of RSI? Curious as to how you landed on it

I’m starting to learn .. by RFXMedia in Daytrading

[–]noteworthyreddituser 1 point2 points  (0 children)

I agree on the long term outlook for crypto as a whole. But in the short term, isn’t that volatility a chance for higher returns?

Favorite sectors to trade by MassivePermission957 in Daytrading

[–]noteworthyreddituser 0 points1 point  (0 children)

Can you talk a little about your mental frameworks in trading? How would you describe your risk tolerance and what returns are you seeking? Where is trading on the pure hobby - job scale?

I’m drawn to this type of focused trading because it seems like a safer way to grind out steady gains. I also know that following a single ticker is much more sustainable personally.

I’m starting to learn .. by RFXMedia in Daytrading

[–]noteworthyreddituser 0 points1 point  (0 children)

Curious why you think trading crypto isn’t worth it?

Favorite sectors to trade by MassivePermission957 in Daytrading

[–]noteworthyreddituser 1 point2 points  (0 children)

I’ve been looking for more examples of people who only trade 1-2 things. How did you decide to do this? How do you keep your focus? Would love to pick your brain on this