TELL ME HOW RETARDED I AM

StonedTime
StonedTime

TELL ME HOW RETARDED I AM:

this question went unanswered in my previous thread

im contending that i can average a .05% daily return on my investments in the stock market but everyone's telling me im retarded and im starting to believe them. i just dont know what im missing here.

look back at KO's (or any stocks) recent history
rsi is fairly reliable in indicating past trend reversals
buy when rsi goes below 30%
sell when it goes above 70%
set rsi to short time period

what goes wrong here? rsi seems to predict trend reversals pretty accurately

hindsight 20/20
well its pretty reliable in the past so why not in the future

New_Cliche
New_Cliche

btw same can be said for moving average convergence

Boy_vs_Girl
Boy_vs_Girl

heres the thing about discussion like these, its just theoretical BS that usually doesnt mean shit in practice. if you truly believe you can make .05% daily then go ahead and do it and show yourself that youre right. if you fail.. so what, no big deal. its so common for beginners to plan shit like this.. "if i just make X per day and i compound it for years ill be a billionaire", yet pretty much nobody seems to be able to do it in practice.

haveahappyday
haveahappyday

will do. this will probably make you laugh at my ignorance but yesterday i bought 3 shares of AMD around noon and 5 minutes later sold for .05%. it was 25 cents but still. and i know that if i were to try it there would no question be loss days

Poker_Star
Poker_Star

another thing that many beginners forget is to account for slippage, commisions and other fees when evaluating the profitability of their strategy. you also need to account for swings in PnL, like you wont win everyday so if you want your average daily return to be .05% or more, your average winning day should be significantly bigger to account for the inevitable losing days/weeks.

all of these things, including your original question is stuff i thought myself when i started out in 2008, took me a while to learn that this shit is a lot harder than it seems at first. in fact, the hardest things about trading are things that most beginners dont even really know exists.

remember that trading is a trade type of profession, like being a plumber or a construction worker. you need practice to get good at it, thinking and reading will only get you so far.

good luck

TalkBomber
TalkBomber

obtaine 30k, lump sum scalps like you said you have done on AMD. im the one who said not to be greedy

LuckyDusty
LuckyDusty

i have 20k right now in the bank but thats all i have. don't want to put it all out there ya know? and not being greedy would probably be the hardest part. missing out on gains must be painful

TechHater
TechHater

if you go on youtube and look at previously live streamed day trading, people are able to do it. what are they doing that i can't do? obviously i need to learn a shit ton more about how shit works but i dont see how what they're doing is TOO crazy. and im sure i wouldn't be as good as them.

Fuzzy_Logic
Fuzzy_Logic

good luck harvesting 0,5% gains a day until you take a 5% loss and ops 2 weeks of work down the drain. Everyone says they can do this OP but its not sustainable. You need atleast 2 points a trade to decently cover comissions and slippage and not be caught off guard by unexpected losses

whereismyname
whereismyname

what are they doing that i can't do?
probably nothing that you cant do if you learn a lot and practice with effort. when you start out youre going to be absolute trash. everyone is. thats why you start out small so you make your biggest mistakes with a relative small amount of money at risk. you make mistakes, and you learn from the mistakes. you make more mistakes and learn more. after repeating this for a long time you will hopefully be pretty decent. then you start trading bigger, you start making mistakes again and you learn from them. you repeat until you become good(or until you give up/go broke).

Need_TLC
Need_TLC

thanks for the encouragement. for real.

Boy_vs_Girl
Boy_vs_Girl

why would i take a 5% loss? i would get out before that

MPmaster
MPmaster

no problem man. im at my office trading the night session and its pretty slow so i dont mind at all.

lostmypassword
lostmypassword

Do you want working VISA cards via bitcoin, 100% anonymous? CONTACT ME via kik, and clear your doubts. KIK: bestccs

hairygrape
hairygrape

if you think you have figured out the magic formula why not just use a automated trading system and do nothing?

Techpill
Techpill

why would i rely on a formula when the market could plummet when im not looking. plus i have no idea how to use a formula

Emberfire
Emberfire

If you invest 20k at .05% a day. Thats $10 a day. That doesnt even cover commission. So you are gunna be working full time watching the market for $10 a day and thats assuming you invest 100% of it. Dude wtf is your plan exactly?

Flameblow
Flameblow

buy when rsi goes below 30%
sell when it goes above 70%
set rsi to short time period

ur the one who said you gunna use a formula

FastChef
FastChef

Genius. Just ''get out before that''. How can the best traders in the world lose money when they could ''get out before that''. This is the classic ''i got the magic formula'' phase, everyone catches that. i just hope you put that to work in a simulator OP

Stupidasole
Stupidasole

Just scalp your own way, Robinhood offers 0 cost trading. Look at the orderbook for slippage

Sharpcharm
Sharpcharm

ITS CALLED AN INDICATOR. Price action should be your primary indicator. You should then have 3 confirmations after price action (rsi stoch, moving average, etc)

CodeBuns
CodeBuns

write a script and back test it, if you don't know how to do either of those things then, yes, you are retarded

Stark_Naked
Stark_Naked

Ever hear the phrase "picking up pennies in front of a steamroller"? Just about every genius with a plan to consistently beat the market (in the short term), is not factoring in risk appropriately. Ask yourself why large trading firms that outclass you in capital, speed, and resources are not employing your trading strategy.

Honestly, I didn't even read your strategy because posts like these come up all the time and they're all pretty much fundamentally the same.

TalkBomber
TalkBomber

What is that? 20% a year? Seems pretty high mate

Disable AdBlock to view this page

Disable AdBlock to view this page

Confirm your age

This website may contain content of an adult nature. If you are under the age of 18, if such content offends you or if it is illegal to view such content in your community, please EXIT.

Enter Exit

About Privacy

We use cookies to personalize content and ads, to provide social media features and to analyze our traffic. We also share information about your use of our site with our advertising and analytics partners.

Accept Exit