I don't see a Robinhood Thread. I trade full time and 99% of what I trade are oil futures.
I'm pretty bored and I'm on a bunch of Vyvanse, so if any of you want to talk about meme stalks I'd like to observe how people think about those.
I will also draw some lines and shit and provide technical analysis snapshots on those stocks you guys want to talk about, or are looking at.
>Pic is the Italian stock exchange building. Shit you not.
buy elio, guaranteed to double your money
Actually, that is incredibly unlikely. They have a huge amount of debt and less cash in the bank than I do.
We see brief pullbacks on large movement days, like there was two days ago on their earnings, however that's just the strengthening of the trend.
The most common way I see people lose tons of money is that they think they're "special" and try to make a million dollars going in on a stock everyone hates.
This is a very good time to short that stock and make decent money, however.
If you really want to buy, wait for a bottoming signal, not a number of huge red candles.
man you're no fun
Sorry. It's better to get deflated by random anons than by the market :/
How do you feel about the crypto-currency trend? I'm skeptical, but a lot of my peers are turning sizeable profits.
I have a little savings I would like to grow. But I dont know anything about investing, stocks, bonds etc.
Care to recomend books or other resources to start learning?
>Technically:
Here's my chart. If you're bullish 880 was a good bounce point because of two things.
1. It was a 50% retrace from the last shorter term move from 600 to 1200.
2. If you use cup and handle patterns the blue cup reaches a double top and has a "handle" that is no more than 30% of the height of the cup.
880 is both of these.
However, bitcoin has a huge range. I put in retraces to see possible buying points. Normally when I see a stock make a perfect double top like that I would expect it to hit the bottom of the range at 200$.... but this is bitcoin.
>Fundamentally:
Right now I think bitcoin is viable because China told their population last June that they couldn't buy gold anymore. Nobody really knows how unstable they are, especially with trump about to fuck them up too. I think people in China are buying it up... look at the spike from 450 in june 2016.
Euro is weak as well, Spain and Portugal/Italy/Greece all have really bad unemployment rates 22 for spain and 13% ish for the others. People are taking in smaller debt like credit cards to hide that they can't handle like houses.
Whoops
I find a lot of books are really dumb because they sell a system that says stuff like measure this on day x and so on.
I started because first my broker was Charles Schwab and they gave free classes on technical analysis. Basically I was trained with 2 other guys by a lifelong Chicago trader. Those guys don't use RSI MACD etc.
What they do use
Volume
Price ceiling
Price floor
Measured moves
General patterns
Bull flag/Bear flag
Head and shoulders
ETC
These are all available for free to look up.
The most important thing is that before you go into a trade to keep your profit to loss ratio at 3:1. This is industrial standard.
If you assume Stock A. is trading at 100$, but it's worth 130$ you do the following.
Divide your money into 3 sections.
Buy in 1/3 at 100$ then 1/3 at 97$ and 1/3 at 93$. You get out completely at 90$. Make this automatic so you don't get emotional about taking the loss.
Just try paper trading on tradingview or something for a while so you can publish things and be held accountable.
Screen time is everything. It's really hard to teach.
Yeah I actually day traded traded oil ETFs for a few months (UWTI and DWTI) and 2:1 to 3:1 is around what I was comfortable at towards the end.
I made like 42% overall in that period. Maybe 35% just from trading oil. Was a great learning experience overall. I do equities for now and have been quite successful, as I held Bank of America through the Trump surge.
One thing is to not forget to put in stop loss orders. Fucked me a few times as a beginner. Went to the bathroom and lost $150 taking a shit while my phone was charging at work.
I know the feeling. I lost 20k during a shower once.
If you get enough capital and lie to your broker about your experience I would highly recommend getting into futures. In that way, you don't have to freak out about not being able to sell uwti/dwti positions after hours.
Futures are a lot harder though because it's hard to get used to being able to do 20-30 leverage. It almost requires a xanax prescription.
I have 6 grand to invest. Please hold my hand and tell me what to do with it.
Oh, if you're interested here's my oil chart right now. Just started a new short a few hours ago with a 49 target.
It's pretty messy because I was trading a lot more frequently before the opec deal, now it's just once every few days.
Can you explain the 100, 97, 93, 90 thing a little bit more? I don't quite understand it. Do you have any advice/readings for a computer engineering student with an interest in financial/stock algorithms?
Option A. buy some shitty ecstasy from china through silk road 2.0.
Option B. Add 10% of your paychecks automatically into a savings account. Periodically buy in during dips. Right now is not a market dip, so just be patient. Don't get greedy.
Learn how to paper trade in the meantime
Yeah that was vague. So you think something will go up 3$ and to keep risk reward at 3:1 you are willing to take a 1$ loss.
You don't buy all at once though. You split it up and buy in as it goes down closer to your stop, but not past it.
That's why I said you put some money in now and then every 30% of the way to your stop from there.
Sometimes a stock won't go down for you to buy in. Then you just have to buy in.
"Flash boys" was fascinating to me. It's by the guy who wrote the big short and it's the story about how high frequency trading started. Algos make 70% of all market transactions, which is insane too!
I don't know how to write code though.
There are many people who I talk to a lot who make their own algorithms and they make quite a lot of money, but they are pretty secretive about their program.
Sorry I'm not much help in that regard.
Also, I would try to get a job with goldman sachs or some other company with a reputation for doing fucked up things with the market.
I think they are lightyears ahead of anyone else in terms of programs because they have so much capital for it. It would be good to intern with them/learn from them after your sophmore/junior year.
They even have algos that instantly read twitter and earnings reports and then trade on key phrases at 2/3 the speed of light. It's like they play with cheat codes.
Pls help
Etrm is a good buy
Thanks! How high do you think it will get?
how2trade fast?
Is technical analysis trading as an individual a viable way of making an income? Or do you need to be managing other peoples money/part of an organization which manages peoples money?
And how much profit as a percentage of your capital do you make monthly/yearly?
And why Oil futures?
Yep, look up the efficient markets hypothesis. I manage my own money and so do most of the guys I talk to. It's a lot less stressful to manage other people's money, on the other hand.
I use futures because it lets me leverage myself by an average of 20x, but you can do more (you should do like 2-3x starting). The other thing is that you can trade 24//7 so you don't have to worry about using an ETF like NUGT and not being able to sell your position if your target/stop is hit over night. That doesn't mean you should stay up trading 24/7.
I trade in an insanely risky way, I think. With the opec deal/election it's sort of common to see 2-3% a day moves
If you have 100k then
100,000x 20 x .02 (2%) is 400,000 profit.
In this way, meme stock gains aren't even comparable. In the same way, you'll need to go to your doctor and get drugs or some shit to watch fluctuations ranging in tens of thousands.
Sometimes, when I have a losing day it will feel like physical pain because the body experiences losing money as legitimate pain. Other traders say it's like feeling your body eating itself from the inside.
Thanks for answering.
What does your average day look like trading? Do you use news or are purely technical? What time scales do you trade? And can technical analysis be applied to any market?
I'd love to get into trading, but I don't know how.
Technical analysis is the same for most of the market. Meme stocks and things like bitcoins have really ugly graphs one has to learn how to trade those differently than stocks/commodities/forex.
I used to wake up really early, definitely always awake for US open and sometimes i would trade through Europe time which is like 2am US time.
However, now that I'm more confident I just check in once or twice a day, whenever I have time, or I'm bored.
Technical/Fundamentals are two sides of the same coin. I read twitter a lot for oil anyway. I also read reports. The more fundamental stuff you know the more relaxed you'll be about your technical analysis because they usually corroborate.
Don't trade anything under an hour, seriously don't even look at fifteen minute stuff, it will drive you mad unless you're a person who trades ultra short term.
Get a paper trading account, start making random risky bets. Save some money and go from there.
I forgot to say that I'm always done by 2:30 EST because that's when "big money" guys have their close on oil because options expire at 2:28 and you'll see a big spike in volatility then and then the rest of the day is just small guys.
Big money guys also start at 9:00 ESt instead of 9:30 so look to see what they do pre market. I often see them selling the shit out of something from 9:00-9:20 and then ease off until 9:40 so retail can buy it up before they let it drop out again. It's kinda fucked up
>bunch of Vyvanse,
How much did you take? Are you gonna be alright?
I actually died and am Memeing from trump heaven.
This post started like 24 hours ago. lol
What is your opinion of the drug?
>
just started trading so excuse the ignorance, but where do you see the cup and handle pattern in the 600-1200 move (and which 600-1200 move are we talking about)?
What can a bottoming signal be and how can I spot it?
Have u never taken speed before?
Took 1200mg of ir adderall in 9 days AMA
this
I'm dumb, how tradeable is this by the minute chart.
This absolutely autistic. When I worked in IBD a few years ago we dabbled in hard commodities and trading via charts may not be the quickest way to lose money, but it is the surest way to lose money.
Skinny jeans, and shaved legs are a reliable indicator.
Vyvanse is life changing for me. It's hard to get over your ego and accept that you just might be fucked up enough to need drugs to function.
To me it's the difference between having a hard time brushing my teeth and randomly hand making all my friends pasta and dinner because I think it sounds fun.
Also, I have panic attacks all the time and vyvanse stops 85% of them for me, which is counter intuitive.... helps trading.
Cup and handle is from 200-1200, I tried to trace it in Blue.
The 600-1200 move is just another shorter term move... it's the last move that btcoin made.
Read about what support/resistance levels are. You will see a bottoming signal in things like a daily Doji candle where the day closes 50% or more from the bottom.
Also, when you determine a trend things make daily cycles, you can look at a youtube of something called "elliot wave" and that will take five minutes. Basically you look for the down trend to start curling up around a support level, or higher than the bottom of the last downturn within a trend.
There are some people who trade gapping up stocks during the US open 9:30-9:45 that use the 1min chart well. Ross cameron has a ton of youtube stuff on this, but NEVER pay for his chat room or anything else.
Thank you for telling us that you have zero to little experience with what we're talking before telling people it doesn't work.
...
Have fun losing money every time you buy and sell, day-trader jim. We'll keep making your markets and providing liquidity while you basically hand over pennies on the dollar for every trade.
>Have fun losing money every time you buy and sell, day-trader jim. We'll keep making your markets and providing liquidity while you basically hand over pennies on the dollar for every trade.
That's what my accounting friends and family told me when I started. Then I showed them my BMW and they started giving me investment advice.
>professional trader
>tradingview
i wish roleplaying fags leave
did you lose a dollar?
The signals...
They're converging!
>100,000 x 20 x 0.02 = 400,000
???
Pics or bullshit. Quit your autistic LARPing
Say you have an account size of 100,000$ and you are 20x leveraged. If what you're invested in goes up 2% you make 400k
I probably just bought the key fob to fuck with people on Veeky Forums.
40k****
woops
You there?
> le biz daytrader
> "oh srry guys I made a small mistake of 10x the amount on my 20x leveraged futures buy"
I'm gonna fold on your story bud
>BMW
theyre not that expensive second hand.. a few thousand bux.. most people drive them.
If youre a third worlder with a bimmer, then youre rich for sure
Don't they charge about 9% on the money they lend you to trade?
I sure as fuck hope you either have a ton of drug money set aside or your psych is a total pushover. Even with the 20mg pills that's 60... You should get an EKG desu
No. I am a caffeine and l-theanine man myself.
Relax I'm sure it's just 40 of the 30mg addys.
is this the same moron again who makes "ask me" threads and then he asks himself the questions.
ap is clueless and obviously does not no anything about markets