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Newbie seeks new Porsche via day trading. See what happens.


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Newbie seeks new Porsche via day trading. See what happens.

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  #11 (permalink)
Birmingham UK
 
 
Posts: 336 since May 2014
Thanks: 7 given, 64 received

Sweat, repeat it and take it to the bank, 1 day per week until rich .


I suppose Stock trading like that, is quite repeatable and time based, unlike Index's which are more random and don't really do the same every day sadly

Forex is totally random these days, given up on Forex.

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  #12 (permalink)
Melbourne FL, USA
 
 
Posts: 117 since Jul 2014
Thanks: 11 given, 49 received

Waiting for Friday. Spending the time playing market games, trying to correlate charts with market news and events, and generally trying to learn as much as I can in the hopes that it will improve my yields.

Today's discovery: Gappers. Gappers that gap downwards almost NEVER gain value in the following day. Gappers that gap upwards USUALLY gain value during the day BUT their percentage gains are unlikely to be noteworthy,
thus I will not seek them out to trade in them.

In game playing I've seen clear evidence that stock prices fluctuate much faster than my charting program (TC2000)
can capture, in many cases. I've gotten quotes during the game that fluctuated by several cents per share over a period of seconds, and never saw that movement on the chart.

I swear I can feel it when people are about to trigger a sell-off. I've watched many stocks second by second and said "Selloff coming in a few seconds....."...and it happens. My instinct has been to (so far, always) sell my position on
the climb BEFORE the selloff hits.

If I were to be so foolish as to say that the market is predictable through the day, I would say that it is LESS predictable
after lunch and MORE predictable before lunch.

I'm trying to learn where people are getting the information that leads to stocks taking a big jump at the opening bell.

There's a lot of potential in getting to that position.

I need to see which brokerages offer early trading, I guess.


I've found that 4-traders.com seems to offer the best stock related news feed I've encountered so far, but I have not yet tried any paid services and can't justify the expense at this point.

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  #13 (permalink)
Birmingham UK
 
 
Posts: 336 since May 2014
Thanks: 7 given, 64 received


You can pay for the news, but your likely only getting faster than retail gets it for free, still behind the big boys.

I rarely trade US into the close randomness increases as the day goes on for me.

Looking forward to Fridays results, brings back memories of when I used to trade that kinda way!

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  #14 (permalink)
Melbourne FL, USA
 
 
Posts: 117 since Jul 2014
Thanks: 11 given, 49 received

BOOM!!!! 10 percent gain!

I saw WPCS heading up on a nice steady trend after screening for a while this morning, and bought in.

1600 shares @ 1.0499

Sold at 1.1801

14 bucks to fees, leaving me 10.69 percent profit.

Raw profit was 201.27 and 14 dollars went to my commissions.

SWEET.

The price on WPCS peaked at 1.20 just a minute after I got out, and then it dumped to the 1.10 to 1.14 range for
some time afterwards so I'm very happy with my timing.

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  #15 (permalink)
Naples, Fl
 
Experience: Intermediate
Platform: TOS, IB
Trading: Options
 
dominipip's Avatar
 
Posts: 12 since Jun 2013
Thanks: 35 given, 4 received

Which market gains do you like the best? Which one was the first you tried?
Thanks

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  #16 (permalink)
Melbourne FL, USA
 
 
Posts: 117 since Jul 2014
Thanks: 11 given, 49 received

You mean market games? I've been playing with Marketwatch games for a while.

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  #17 (permalink)
Birmingham UK
 
 
Posts: 336 since May 2014
Thanks: 7 given, 64 received


Carrerain4 View Post
BOOM!!!! 10 percent gain!

I saw WPCS heading up on a nice steady trend after screening for a while this morning, and bought in.

1600 shares @ 1.0499

Sold at 1.1801

14 bucks to fees, leaving me 10.69 percent profit.

Raw profit was 201.27 and 14 dollars went to my commissions.

SWEET.

The price on WPCS peaked at 1.20 just a minute after I got out, and then it dumped to the 1.10 to 1.14 range for
some time afterwards so I'm very happy with my timing.


Nice, wasn't full account in I presume, so what's your account % growth ??

Double it with a margin account then make 20% once per week and Porsche time baby

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  #18 (permalink)
Melbourne FL, USA
 
 
Posts: 117 since Jul 2014
Thanks: 11 given, 49 received

I went all in with my available account. Which was a little under 1700 dollars. Cash, no margin.

For some time to come, I'll ONLY be playing "all in" as the account is so small. At this stage, the fees are the first
consideration for me to beat. The bigger I can play, the less those fees will matter.

So to keep fees to a minimum, I play with my whole account and buy and sell just once per trading day.

I will revise that strategy in the future as the account (hopefully) grows.

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  #19 (permalink)
Philadelphia
 
Experience: None
Platform: corded black telephone
Trading: ticker tape
 
Posts: 2,893 since Apr 2012
Thanks: 1,683 given, 3,666 received

10 percent 20 percent 30 percent 40, 100 percent 200 percent 300 percent 1 billion!!!


R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
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  #20 (permalink)
Melbourne FL, USA
 
 
Posts: 117 since Jul 2014
Thanks: 11 given, 49 received


Playing the "percent game" is fantasizing, nothing more.

I have gamed the numbers to see how fast I could pass the million dollar mark at various levels of yield per
trading session. It just doesn't matter.

Making projections based on a few good trades is hardly something I actually intend to put any faith into.


What matters is only what I can really achieve and CONTINUE to achieve. Which may be a negative yield in the
long term, for all I know.

Lacking the ability to see into the future, my trade fund is at risk every time I hit the buy/sell button. I could lose
ALL of it for reasons I can't predict.

I know the risks. I know that most people can't consistently make money day trading. I just intend to find out for myself if maybe I MIGHT end up being one of those who CAN.

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