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enraged_camel posted:my uncle (distant uncle!) just told me that if the Fed intervenes again this week, he's gonna get out of stocks completely and buy gold/silver Ask your distant uncle weird questions like "How do you define the value of an oz of gold in a society where money has lost value?" or "if central banks agree that money is a construct which can be printed infinitely, which they are doing, how does this impact the value of gold since it is bought and paid for in that currency." Bring popcorn.
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Apr 14, 2020 00:39
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Rime posted:Ask your distant uncle weird questions like "How do you define the value of an oz of gold in a society where money has lost value?" or "if central banks agree that money is a construct which can be printed infinitely, which they are doing, how does this impact the value of gold since it is bought and paid for in that currency." id rather not
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Apr 14, 2020 00:40
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Is robinhood still giving away CHK shares for signing up?
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Apr 14, 2020 00:46
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Rime posted:Ask your distant uncle weird questions like "How do you define the value of an oz of gold in a society where money has lost value?" or "if central banks agree that money is a construct which can be printed infinitely, which they are doing, how does this impact the value of gold since it is bought and paid for in that currency." Im curious if you really think these questions are some big mystery?
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Apr 14, 2020 01:03
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Been easing into more day trading, went pretty well today with a fair few good wins, nailing down a system that I feel works and exposes me to acceptable risk, and overall around 15% up in closed P&L, however the small nature of the trades means I basically barely broke even because of trading fees. I guess it's time to start slowly increasing capital to creep more profit in now that I have a strategy I'm comfortable with.
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Apr 14, 2020 01:09
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VelociBacon posted:Been easing into more day trading, went pretty well today with a fair few good wins, nailing down a system that I feel works and exposes me to acceptable risk, and overall around 15% up in closed P&L, however the small nature of the trades means I basically barely broke even because of trading fees. I guess it's time to start slowly increasing capital to creep more profit in now that I have a strategy I'm comfortable with. Care to share your general strategies and most traded symbols? Straight long equity scalping or futures, options?
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Apr 14, 2020 01:15
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greasyhands posted:Im curious if you really think these questions are some big mystery? Yeah these are like, goldbug 101 lectures for why to hoard gold, not some kinda gotcha. It's like saying "but what about fiat currency" to a bitcoin fanatic.
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Apr 14, 2020 01:17
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greasyhands posted:Im curious if you really think these questions are some big mystery? No, not really, I just like loving with idiots.
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Apr 14, 2020 01:25
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VelociBacon posted:Been easing into more day trading, went pretty well today with a fair few good wins, nailing down a system that I feel works and exposes me to acceptable risk, and overall around 15% up in closed P&L, however the small nature of the trades means I basically barely broke even because of trading fees. I guess it's time to start slowly increasing capital to creep more profit in now that I have a strategy I'm comfortable with. What trading fees? Isn’t everything free now?
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Apr 14, 2020 01:34
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Inner Light posted:Care to share your general strategies and most traded symbols? Straight long equity scalping or futures, options? Sure, obviously this could just be luck and I don't recommend anything that I'm doing and etc etc. The thing I've learned the most in the last month or so is to be quick to dump bad trades and move on - especially when trading options where it can spiral quickly. The most basic thing I do is I keep a watchlist of inverse pairs of (often leveraged) ETFs, like SQQQ/TQQQ, FAZ/FAS, UGAZ/DGAZ, etc. There are some example lists online. I generally keep charts up in 1m candlesticks for a few of these and mark out some previous points of support and resistance and try to look for price action opportunities where a bullish candlestick crosses over a 9-period SMA line, followed by a second candlestick that closes above this line. I take a look at the RSI to make sure it's not sitting super overbought (generally I feel okay about RSI of ~40 or less) and I check the general orientation of the VWAP/180-period SMA and if these look like they're supporting a move in the same direction, and it's not right up against a previous resistance, I generally enter the trade. I'm basically looking for 3/4 of these things to be supporting the trade. Sorry if this doesn't make a lot of sense. I know there are some people here as well that don't believe in any form of technical analysis so I'm not really sure what to say about that. So if I'm watching SPY for example and see that it starts to take a poo poo I'll pull up the SQQQ and see if it looks like it's meeting these criteria and if it's meeting most of them I buy in with shares. If I see SPY start to really look good on the charts with the criteria above, like every factor looks positive, I'll buy call options instead of making a play on TQQQ. I don't feel as comfortable playing this the opposite way (with SPY puts) based on price action, even using SQQQ to visualize SPY losses as an upswing. I'm not sure why but I seem to do more poorly with put strategies so instead I use SQQQ shares with the above strategy so I'm not as leveraged and can just sell out quickly. Essentially most of my trades are based on SPY movements but I do check TSLA, AMZN, etc throughout the day. I don't use a lot of fundamental analysis because I feel like it's basically impossible to apply logic to the market movements the last little while. At this point when I see something in the news I'm following the tickers just to see what happens more than to make any informed play about it. I sell out (probably too early) of positions when candlesticks cross or significantly approach the 9-period SMA. The options I buy are minimum 30 DTE although I want to read more about how to maximize on this as it seems like I'm getting less delta and paying more premium for options I'm not planning on holding longer than 30 min. If anyone has any feedback on this strategy I'd like to hear it. I'm interested in learning and improving more than preserving ego. I'd say my largest areas for improvement are applying more FA, nailing down more information about picking specific options to trade in short-term, and just general market principle knowledge. e: paternity suitor posted:What trading fees? Isn’t everything free now? I'm Canadian, trading with Questrade, the data/trading package I use to provide me with Level 2 and OPRA info gives me a discount on options and non-ETF purchases (ETF purchases still free) but it's still around $5-6/trade. I've been trading with low capital to try to work on a strategy since I'm learning, selling positions for $20-40 USD profits a lot of the time. VelociBacon fucked around with this message at 01:47 on Apr 14, 2020 |
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Apr 14, 2020 01:39
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VelociBacon posted:Sure, obviously this could just be luck and I don't recommend anything that I'm doing and etc etc. The thing I've learned the most in the last month or so is to be quick to dump bad trades and move on - especially when trading options where it can spiral quickly. The most basic thing I do is I keep a watchlist of inverse pairs of (often leveraged) ETFs, like SQQQ/TQQQ, FAZ/FAS, UGAZ/DGAZ, etc. There are some example lists online. I generally keep charts up in 1m candlesticks for a few of these and mark out some previous points of support and resistance and try to look for price action opportunities where a bullish candlestick crosses over a 9-period SMA line, followed by a second candlestick that closes above this line. I take a look at the RSI to make sure it's not sitting super overbought (generally I feel okay about RSI of ~40 or less) and I check the general orientation of the VWAP/180-period SMA and if these look like they're supporting a move in the same direction, and it's not right up against a previous resistance, I generally enter the trade. I'm basically looking for 3/4 of these things to be supporting the trade. Sorry if this doesn't make a lot of sense. I know there are some people here as well that don't believe in any form of technical analysis so I'm not really sure what to say about that. $5/trade cost and pulling $20 for your wins either you have the best hit rate in the world or you're going broke
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Apr 14, 2020 01:53
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leper khan posted:$5/trade cost and pulling $20 for your wins either you have the best hit rate in the world or you're going broke I have a green P&L about 75% of the time at the end of the day (overall since I've started I'm around 20% growth in the account) but yes the fees are loving me up. I'm treating this all as learning because as mentioned I'm basically coming out around even, maybe 50 bucks up on the day. I've been creeping more capital in as mentioned above to start to increase earnings (and risk) as I learn more and feel more comfortable. I'm not trying to make this my day job.
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Apr 14, 2020 01:58
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Thanks man. Just curious why do you track SPY when deciding whether to go in on SQQQ, instead of looking at QQQ directly? SPY is SP500 and QQQ/SQQQ is Nasdaq.
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Apr 14, 2020 01:58
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Inner Light posted:Thanks man. Just curious why do you track SPY when deciding whether to go in on SQQQ, instead of looking at QQQ directly? SPY is SP500 and QQQ/SQQQ is Nasdaq. Yeah I wanted the higher volume compared to SPXU and SPXL (46M avg volume with TQQQ vs 19M avg volume with SPXL). I've found that while SQQQ/TQQQ aren't tracking 1:1 with SPY, they're all moving the same direction and ultimately seeing a change in price direction on SPY prompts me to check other related charts to see what seems to be moving the way I want as described in my effortpost. I feel like the SPXU/SPXL volume is probably adequate to trade with and not be stuck in a position but with +30M other idiots like me trading on the QQQ's maybe you get more momentum on price action as more people are buying in on swings? I haven't read about this and it's likely not sound logic. VelociBacon fucked around with this message at 02:05 on Apr 14, 2020 |
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Apr 14, 2020 02:03
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VelociBacon posted:I'm Canadian, trading with Questrade, the data/trading package I use to provide me with Level 2 and OPRA info gives me a discount on options and non-ETF purchases (ETF purchases still free) but it's still around $5-6/trade. I've been trading with low capital to try to work on a strategy since I'm learning, selling positions for $20-40 USD profits a lot of the time. Dude, move your account to IB.
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Apr 14, 2020 02:07
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How the heck do you know in thinkorswim if ES options are American or European style? Can't find that info anywhere, even in the option code. e: nevermind I guess quarterlies are American. Inner Light fucked around with this message at 02:33 on Apr 14, 2020 |
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Apr 14, 2020 02:31
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Inner Light posted:How the heck do you know in thinkorswim if ES options are American or European style? Can't find that info anywhere, even in the option code. /ES are futures
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Apr 14, 2020 02:34
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pmchem posted:/ES are futures Yeah I know, just forgot the slash in my post. I thought lots of people in the thread trade /ES options so I was checking it out. Can't get it to work in ToS 'on demand' though, the price always says Not Traded.  Submitted the Futures application to TDAM today, excited to lose more.  Not sure what I'm doing but no matter what option date or category I select it always says Not Traded. In live mode it lets me tee it up fine. Or On Demand with SPY options works fine too. Oh well. Inner Light fucked around with this message at 03:04 on Apr 14, 2020 |
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Apr 14, 2020 02:49
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Agronox posted:Kinda feel like you have to fade the oil move here? Or I might just be salty. Covered right now at $22.61. This turned into a decent enough trade, $1,840 profit. Tempted to roll into the June contract.
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Apr 14, 2020 03:49
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Lote posted:So if you think that MBS are going to blow up ala 2008 and want to invest in the closest thing to credit default swaps as possible, what would you invest in? Shitputs in $NLY or $NRZ? I'm really tempted to try some shitputs on NLY.
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Apr 14, 2020 04:02
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java posted:I'm really tempted to try some shitputs on NLY. Man, I've got my REIT money in nly, arr, agnc... All completely poo poo the bed.
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Apr 14, 2020 06:50
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Baddog posted:Man, I've got my REIT money in nly, arr, agnc... AGNCP has been kind to me.
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Apr 14, 2020 06:52
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$TSLA up 8% premarket on news that they *checks notes* aren’t paying rent because they don’t have cash.
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Apr 14, 2020 13:02
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Bluechips JNJ, GE, and T are all being kind to me today. The big question I have is, when are they going to crash again? I figure they will reach their ATH, or near that, before plunging again in the next few months. Does it make sense to pick a target to sell at, and then try to re-buy after another plunge?
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Apr 14, 2020 13:04
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I would be careful with GE. Their one division that was making money (Aviation) is right now in trouble along with the rest of the aerospace industry, and they're still saddled with lots of debt and toxic assets. But hey, not like the underlying health of these company means anything anymore
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Apr 14, 2020 13:12
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poisonpill posted:Bluechips JNJ, GE, and T are all being kind to me today. The big question I have is, when are they going to crash again? I figure they will reach their ATH, or near that, before plunging again in the next few months. Does it make sense to pick a target to sell at, and then try to re-buy after another plunge? Timing the market is always a good idea
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Apr 14, 2020 13:13
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My desire to short TSLA is peaking, therefore this stock is going to $1000
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Apr 14, 2020 13:13
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DoubleT2172 posted:Timing the market is always a good idea Perfect! 
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Apr 14, 2020 13:19
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Lote posted:$TSLA up 8% premarket on news that they *checks notes* aren’t paying rent because they don’t have cash. lmao
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Apr 14, 2020 13:47
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https://www.cnbc.com/2020/04/14/imf-global-economy-to-contract-by-3percent-due-to-coronavirus.htmlquote:IMF slashes growth forecasts, says world will ‘very likely’ experience worst recession since the 1930s Markets... up!
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Apr 14, 2020 13:52
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LLCoolJD posted:https://www.cnbc.com/2020/04/14/imf-global-economy-to-contract-by-3percent-due-to-coronavirus.html lol gently caress yesterday was LOW... SPY going to 290 smh
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Apr 14, 2020 13:55
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Prove my short positions wrong, market/government/Fed, but don’t lie to me!
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Apr 14, 2020 13:57
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Agronox posted:Covered right now at $22.61. This turned into a decent enough trade, $1,840 profit. Tempted to roll into the June contract. USO doesn't seem to have retraced as much as oil... due to not being in deep contango..? want it lower 
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Apr 14, 2020 13:58
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Lote posted:My desire to short TSLA is peaking, therefore this stock is going to $1000 TSLA is so loving messed up; I've posted here multiple times about not touching the poop, and then touched the poop because it was too loving high (when it hit 900). And past Dwight was right, DON'T TOUCH THE POOP.
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Apr 14, 2020 14:21
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Dwight Eisenhower posted:TSLA is so loving messed up; I've posted here multiple times about not touching the poop, and then touched the poop because it was too loving high (when it hit 900). And past Dwight was right, DON'T TOUCH THE POOP. You can play the price action without conviction of an overall trend though! But yeah it you don't think TSLA is overbought you're crazy at this point hey.
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Apr 14, 2020 14:25
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DoubleT2172 posted:Timing the market is always a good idea this is the market timing thread
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Apr 14, 2020 14:26
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Moved to cash yesterday morning, going short this morning
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Apr 14, 2020 14:33
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Sloppy trading at the open wiped out my overnight gains.  But hey, at least my AMZN keeps trucking.
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Apr 14, 2020 14:42
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Bought a little bit of SPY 4/27 273 calls yesterday with a limit order to execute when SPY hit 273: $8.74. Picked my price from the morning drop, thought it might hit 273 and that'd be a fine point to get in. TOS will estimate the underlying price that your option order will execute at for you which is how I picked $8.74. I sat on them overnight. Rolled them to 281 today for $5.26 taking 60% of my cash back out. If we get further surging upward I'll see if I can get the rest of my cash back out and then let it ride.
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Apr 14, 2020 14:43
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greasyhands posted:Moved to cash yesterday morning, going short this morning What prompted the U-turn for you?
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Apr 14, 2020 14:51
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