The Stock Trading and Shitposting thread.

I start at open, 9:30am est, and trade til noon usually. Mostly looking for bounces off key levels or a break of the 15m opening range. But yes, you really need to keep the chart open all day because you never know when Trump is going to say something to move the markets. Even mentioning the word "tariff" will set the algo's to auto-sell, which is why you see such big moves down randomly.

Lunis said:

I start at open, 9:30am est, and trade til noon usually. Mostly looking for bounces off key levels or a break of the 15m opening range. But yes, you really need to keep the chart open all day because you never know when Trump is going to say something to move the markets. Even mentioning the word "tariff" will set the algo's to auto-sell, which is why you see such big moves down randomly.

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What key levels are you using? The niche I seem to be doing OK at is I use VWAP as a general guide to the day's progression, but I concentrate on what 9EMA and 20EMA are doing. So I look for trends where it keeps bouncing off of 9EMA (sometimes will retreat to 20). When it corrects back to 9EMA I can scalp the recovery back to the trendline. I'd prefer to bet on bigger moves but right now I'm not comfortable with the actual dollar risk to engage in that yet.

My rules are I don't bet against the daily trend unless there's a volume spike/event happening. So if it's slowly climbing past opening range over the day, even if I could take shorts back to 20EMA or VWAP, I don't, I want until it recovers then reenter with the daily trend, and the short term trend. That has worked out for me at least. There's a lot more cases of volume spikes pushing the trend further than reversal, and if it's one of those once a day big reversals my stops save any real damage at least.

Thanks for sharing.

Palum said:

What key levels are you using? The niche I seem to be doing OK at is I use VWAP as a general guide to the day's progression, but I concentrate on what 9EMA and 20EMA are doing. So I look for trends where it keeps bouncing off of 9EMA (sometimes will retreat to 20). When it corrects back to 9EMA I can scalp the recovery back to the trendline. I'd prefer to bet on bigger moves but right now I'm not comfortable with the actual dollar risk to engage in that yet.

My rules are I don't bet against the daily trend unless there's a volume spike/event happening. So if it's slowly climbing past opening range over the day, even if I could take shorts back to 20EMA or VWAP, I don't, I want until it recovers then reenter with the daily trend, and the short term trend. That has worked out for me at least. There's a lot more cases of volume spikes pushing the trend further than reversal, and if it's one of those once a day big reversals my stops save any real damage at least.

Thanks for sharing.

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VWAP, yesterday high/low, yesterday close, overnight high/low, and the pivot points indicator on TradingView. The indicator is called "Pivot Points Standard". But I'm a scalper so I don't go for giant moves. I trade 1-2 minis on NQ for 10-20 points. Except for fading the extremes, I don't have a take profit on those - I just trail with my stop loss until it stops.

I do trade news, https://www.marketwatch.com/economy-politics/calendar is good for giving you most of the key news events. All I do is wait for a giant candle in either direction, fade it, then trail it. Most CPI numbers and stuff like that get retraced, but there are times when they don't... so always keep a stop loss.

Lunis said:

VWAP, yesterday high/low, yesterday close, overnight high/low, and the pivot points indicator on TradingView. The indicator is called "Pivot Points Standard". But I'm a scalper so I don't go for giant moves. I trade 1-2 minis on NQ for 10-20 points. Except for fading the extremes, I don't have a take profit on those - I just trail with my stop loss until it stops.

I do trade news, https://www.marketwatch.com/economy-politics/calendar is good for giving you most of the key news events. All I do is wait for a giant candle in either direction, fade it, then trail it. Most CPI numbers and stuff like that get retraced, but there are times when they don't... so always keep a stop loss.

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What are you using for a broker right now? Also if you don't mind me asking for scalping what are you using for basic stop losses? Right now my default is 100 ticks profit taking and 60 ticks stop loss.

I use AMP futures for my personal account. But I mostly trade XFA's with the prop firm Topstep. Risk to reward ratio is highly subjective, I use 1:1 but I have a 70% win rate. Depending on your win rate you may want to go for a higher ratio.

CPI numbers got retraced just like I said. Very cheap buying opportunities in the morning.

Lunis said:

CPI numbers got retraced just like I said. Very cheap buying opportunities in the morning.

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Pissed I caught that retrace but the stupid app bounced me to my demo/training acct instead of live.

Another Trump dump + retrace, happened around 1:19pm est. 50 point red candle that blew right through VWAP but bounced off the 500 sma / 900 area. When they drop fast like that you can't trust the first or second support zone, but the third held in this case.

Back with an update, my first move on that 25 trades to 1 million may be out this week! RXRX is exploding.

I sold the 11.5 call, if I get exercised I made well above my 15% goal(also made about 5% selling CCs over the last month). If I get exercised, so be it, otherwise I will keep selling aggressive calls at or above the 15% goal. I would consider rolling it out at the end of the week if it added some profit(example a 1$ out roll for a debit of 0.80$). That's only if the insanity continues though



Side note: I may take up a small long term position on this company outside of this asinine attempt of mine. I really like their approach to AI + medicine and with the AI bubble, it's a good a speculative play as any. It's got potential for a 2-3 year big run. Thinking about a set and forget purchase of maybe 50k in my retirement account. Will update if I pull the trigger, but I'm certainly not going to do it now, I'd wait for the IV to settle or find some new floor or the chart to officially turn up.

Also, that DLO play keeps looking better, the liquidity is slow so it's not getting the rapid movement other names get, but everything still looks positive and I have plenty of time before expiry




Also, I don't actually believe I am going to turn that 30k into 1 million lol, it's more of an experiment/challenge because I did really well last year in my fun trading account. I took all the profit and did what I always do(after taxes), squirreled about 25% away into long term investments(not trades) and took the rest to continue playing. The starting funds were a piece of that.

The main goal is to see how far I get or potentially lose it all...which should be impossible unless I fuck up a pure options play or die on a penny stock.

That’s REALLY difficult to say. Depends on the stock, the overall economic climate, if they are oversold, their current/future P/E, etc.

for instance with DLO, I predict that the current resistance(green line around 14) will be tough to break. They are touching oversold, pe is around 33, nearctop of BB, etc. outside of earnings or news it may be nearing a peak. However none of those metrics are way overblown, which shows that while it may settle a bit, the general trend is clearly bullish. Hence my position and belief. Anything can happen but nothing in that chart shows a sharp downward trench. All things equal I would expect the growth to continue until I start to see the 50DMA slow into the 100DMA.

thats how I’m planning my exit, but right now it looks to be pretty well off by my April expiry. Others here always post about sentiment but I tend to pick a stock based on all sorts of random factors, but I trade on technicals.

so in short, an all time high can be a rung in an upward ladder or it can be so overblown a pullback is almost mandatory. If we all knew for sure we’d make money every time. Best one can do is figure out why it’s at an ATM and compare with chart to make a prediction

So I woke up to 5,400 shares of RXRX, it seems someone executed 1 of my sold contracts(sold @11.5) the current price is 10.18$ so no worries there. My cost basis was 7.08$ and I was looking to make 10-15%! I'll update on Monday but I'm guessing it won't peak back up to 11.5 so I can keep the money from the sold contract, then I will either flat out sell or sell an ATM for the next week.

Tried a new strategy in my newest account. Changed from mini's to micros and dollar cost averaged into every loser. Didn't work the first day, but the next 5 it did and I was able to secure a $1k payout. Averaging in with micros is the most stress free trading I've done, lets see how long it will work.

Lunis said:

Tried a new strategy in my newest account. Changed from mini's to micros and dollar cost averaged into every loser. Didn't work the first day, but the next 5 it did and I was able to secure a $1k payout. Averaging in with micros is the most stress free trading I've done, lets see how long it will work.
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So are you just adding in every time it drops to a new low hoping to catch volatility on the way back up?

Palum said:

So are you just adding in every time it drops to a new low hoping to catch volatility on the way back up?

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Well there has to be a setup obviously, I don't just blindly take a position. What happens sometimes in the Nasdaq is that the big institutions will algo push to take out stops and then make the real move (this way they get a much better price). It happens everyday, it looks like it's going to breakout only to push the opposite way first, then the breakout happens. So you can be right in the direction but still get stopped out first.

If I'm confident in the direction but it goes against me, I will add 1 MNQ every 10 points or so. It works like 80-90%% of the time. But the few times it doesn't you can take a big loss.

It’s all fun and games until it wipes you out.

One of the rooms I was messing around in when I was first trying to learn to trade had a trader that used that system. She appeared to be doing quite well, I started playing around in the trades she called with a small amount. She had a huge winning record, we were normally taking profits at 20% or so in pennies and often had 3-4 winners a day. Turns out it wasn't her actually being good, but the covid market doing silly things, and you could almost buy anything and it would go up.

Made more money than I lost, by a decent margin, but when the trades stopped working, it got ugly.

The account cost $200 and I've already got $1k out of it, so I could care less if it blows up. And unless you're a new trader, your setups should be better than a coin toss. I wanted to see if I could actually make money after being caught in a liquidity sweep. With mini's you can't really hold through them but with micros you can.

I guess if you do it on something major like SPY it would be guaranteed to win....eventually, right? Unless the markets go down for the rest of all history!