The Stock Trading and Shitposting thread.
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Blazin
Creative Title
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This interest me, can you give me an example of this? Can PM me if worried about it being combative
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Jysin
Bronze Baronet of the Realm
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I would never shill any courses, but this should be the exception. You can google the guy, but he is a legit 8 figure profitable prop trader with best all time firm P&L. The guy actually knows his stuff and I have followed him for many years now.
There is a free tier and if any of you degenerate day traders want to succeed long term, I suggest you sign up for the free stuff at minimum.
This is prerelease and full course will drop in January.
theonelanceb.com
There is a free tier and if any of you degenerate day traders want to succeed long term, I suggest you sign up for the free stuff at minimum.
This is prerelease and full course will drop in January.
Lance Breitstein's Magnum Opus | Trading Course | PRE SALE AVAILABLE NOW
Check Out Lance Breitstein's Magnum Opus, The Ultimate Trading Course by a Wall Street Veteran With 150+ Videos, Playbooks, Unique Trading Concepts, & More.
theonelanceb.com
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Daidraco
Avatar of War Slayer
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I know I've heard or read someone talking about him, somewhere. Is that how you got started or got better?I would never shill any courses, but this should be the exception. You can google the guy, but he is a legit 8 figure profitable prop trader with best all time firm P&L. The guy actually knows his stuff and I have followed him for many years now.
There is a free tier and if any of you degenerate day traders want to succeed long term, I suggest you sign up for the free stuff at minimum.
This is prerelease and full course will drop in January.
Lance Breitstein's Magnum Opus | Trading Course | PRE SALE AVAILABLE NOW
Check Out Lance Breitstein's Magnum Opus, The Ultimate Trading Course by a Wall Street Veteran With 150+ Videos, Playbooks, Unique Trading Concepts, & More.
Jysin
Bronze Baronet of the Realm
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I had started before his public trading persona, but he certainly helped me clean up my trading. Reinforced in me to trade less and only trade the very best of setups, as well as appropriate sizing vs expected value (broken slot machine analogy). I have posted quite a few of his nuggets of wisdom over the years.
One of the most valuable insights to me has been his "Right side of the V" teaching. It is all well and good to identify appropriate support / buy levels, but buying WITH the momentum and keeping on the right side of the trade stopped me from taking numerous papercuts trying to find bottoms prior to reversals.
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Tmac
Adventurer
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I would never shill any courses, but this should be the exception. You can google the guy, but he is a legit 8 figure profitable prop trader with best all time firm P&L. The guy actually knows his stuff and I have followed him for many years now.
There is a free tier and if any of you degenerate day traders want to succeed long term, I suggest you sign up for the free stuff at minimum.
This is prerelease and full course will drop in January.
Lance Breitstein's Magnum Opus | Trading Course | PRE SALE AVAILABLE NOW
Check Out Lance Breitstein's Magnum Opus, The Ultimate Trading Course by a Wall Street Veteran With 150+ Videos, Playbooks, Unique Trading Concepts, & More.
Signed up for the free course.
I couldn't really tell the benefits for paying other than a difference of 25 videos. But, you get 50 videos for free and 50 is already a lot, unless they're like 5 min long.
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Daidraco
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I'm making my way through the videos he linked. Have picked up a couple things, but theyre really long. Thought I'd listen to them at the Gym but I cant concentrate on whats being said. So I'm making my way through them as I go.
Rangoth
Vyemm Raider
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Update on the DLO, I still like this company and think it will recover quite a bit now that argentina is getting inflation under control under Milei and whatever the next year will bring for us.
I rolled My position(was up about 100%), I started with 25k(ish) on this pick, just sold the DEC20 @9 for 50k, and put 12k(ish) back into it. This time April 17 @15(a bit more aggressive).
The chart looks good, current options are heavily weighted towards calls and only resistance I see on my charts is up at 17. It's also rising normally, not like some WSB meme stock so I have faith.
Anyway, not investment advice, blah blah
I rolled My position(was up about 100%), I started with 25k(ish) on this pick, just sold the DEC20 @9 for 50k, and put 12k(ish) back into it. This time April 17 @15(a bit more aggressive).
The chart looks good, current options are heavily weighted towards calls and only resistance I see on my charts is up at 17. It's also rising normally, not like some WSB meme stock so I have faith.
Anyway, not investment advice, blah blah
Jysin
Bronze Baronet of the Realm
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Those videos, the main takeaway is perspective. Of course he highlights some trading fallacies. Some key takeaways is the monumental work that needs to be put in to be profitable long term. He had a professional job with a prop firm, with all of a firm's tools at his disposal, and being mentored by one of the top traders in the Chicago branch. Despite all of this, it still took him over 2 years until profitability.
The biggest mistake most make is severely underestimating the amount of hours it takes to be put in pouring over charts, making a trade log / daily trade journal, etc. He makes a lot of sports analogies and insists the traders that succeed have to put in the hours in the chair at the desk and studying. You are literally trading against some of the smartest people in the world and sometimes against algos and programs developed by some of the most deep pocketed firms in the world. It really isn't meant to be some thing you just log into in your spare time and make a few wagers here and there and expect long term beats.
He also touches on mental heuristics that we have to fight that our brains really aren't evolved for naturally.
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Daidraco
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That whole journal thing, tracking your trades etc. I still need to dive into and actually figure out what theyre talking about.
How theyre making an excel sheet and then going down box by box, and figuring out what their success ratio is .. versus where they.. I guess put in or shorted at? Versus the risk vs reward? I'm just spit balling here, cause I really just dont even know. Right now, Im essentially just plotting out patterns. Like, for some reason - I know Monday's.. for whatever reason, open really high, and will fall throughout the day and where it stops will set the pace of decline for the entire week. I dont know if thats specific to Intel, for example, or if thats a general case among most stocks. Because Im watching Verizon as well, but Verizon seems to have gotten very "stable" lately - as in I dont see a lot of big swings like intel.
I guess what Im trying to get at is that I know I need to learn all this stuff and put the time into it - but theres so many grifters out here, and even the course I'm taking - which was originally my brothers - takes fucking forever cause they take a good 30 minutes out of an hour just talking about religion, prayer, and peoples well being. Which thats fine. But its not why Im taking the course.
Jysin
Bronze Baronet of the Realm
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Best start with something like TraderVue.
You can upload your trades and it is going to break down a ton of metrics for you. You’ve got the option to journal trades on the platform as well.
The important thing is to see what your metrics tell you about profitability on a per trade basis. Start categorizing trades (reversal, news trade, etc). What type, size, time of day, ticker is consistently losing you money. Cut out those shit trades altogether.
Journaling my trades made me realize I needed to just drop my B and C trades completely. My profitability came from my best and most confident setups. The B and C trades had far less edge and just eroded monthly profits.
In a nutshell, you need to know what works for you and what doesn’t. Focus on the best and spend a hell of a lot more time being patient in between.
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Daidraco
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Patience? Reluctance? Fear? Something like that, has been my literal handicap with most everything Ive done so far. If I would have held onto that short ... shit, till today on intel? I'd have another 600 bucks on it. Would have been greedy to think that way, I guess.
This is an example of the sheet I keep seeing in videos (its not filled in, just an idea of what it looks like). But I cant seem to figure out what tf they are even talking about with it.
karma
Molten Core Raider
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So, as I understand it. When you take a trade, you should already have a defined risk, and reward. "I'm gonna buy this stock because I believe I am going to make xxx amount of dollars (reward) on the move. If I am wrong, I am going to cut my loss at yyy price (risk)."Patience? Reluctance? Fear? Something like that, has been my literal handicap with most everything Ive done so far. If I would have held onto that short ... shit, till today on intel? I'd have another 600 bucks on it. Would have been greedy to think that way, I guess.
This is an example of the sheet I keep seeing in videos (its not filled in, just an idea of what it looks like). But I cant seem to figure out what tf they are even talking about with it.
If you are risking a dollar to make a dollar, you have to be right 50% of the time to break even, and 60% of the time to win. If you are risking a dollar to make 5 dollars, you only have to be right less than 20%+ to be profitable overall. It was a fairly big subject in one of courses I watched when I was first trying to learn to trade.
It basically boils down to: if, when you win you win big, and when you lose you lose small, you will win overall.
IIRC Sanrith and Blazin (probably Jysin too) have said cut your losses quickly when the trade turns against you, and let your winners run.
If I misunderstood what you meant, and explained something you already knew, or did a shitty job of explaining it, Sorry
Trying to be a tiny bit helpful.- 2
Rangoth
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Good topic. One of the issues I have with that approach is knowing when, in the risk 1 to make 5 model, that I should jump out even though I've only made 3 instead of 5.
Many times I have been burned by not leaving when I was up only for a few days later to either actually be DOWN, below my initial cost as in really losing money, or I was up 5 and then it settled at up 2. So I missed out on 3$
Of course no one times the top perfectly and trailing stops can sometimes help but it depends on movement/liquidity/etc. I've had trailing stops trigger in a temp swing and then it keeps moving up. I've also had trailing stops fail to trigger properly because of massive swings. So I only use them in specific situations now. These days I tend to sell based on charts. Way above BB, coming up to a resistance, things like that. If I am wrong and it keeps going ohh well, but I've found it overall locks in more profit than a simple trailing system
Many times I have been burned by not leaving when I was up only for a few days later to either actually be DOWN, below my initial cost as in really losing money, or I was up 5 and then it settled at up 2. So I missed out on 3$
Of course no one times the top perfectly and trailing stops can sometimes help but it depends on movement/liquidity/etc. I've had trailing stops trigger in a temp swing and then it keeps moving up. I've also had trailing stops fail to trigger properly because of massive swings. So I only use them in specific situations now. These days I tend to sell based on charts. Way above BB, coming up to a resistance, things like that. If I am wrong and it keeps going ohh well, but I've found it overall locks in more profit than a simple trailing system
Rangoth
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For those that follow my shitpost, DLO is about to experience the golden cross(50DMA passing the 200DMA). The APRIL @15 calls I bought already up over 30%
There is news of them maybe being bought, so I am tempted to take my 30% and walk....which I may be done milking this cow. However all the technicals look good. I'll post again if I officially exit, but I may look for it to crawl up a bit more before doing so considering how long I have to expiry.
There is news of them maybe being bought, so I am tempted to take my 30% and walk....which I may be done milking this cow. However all the technicals look good. I'll post again if I officially exit, but I may look for it to crawl up a bit more before doing so considering how long I have to expiry.
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Rangoth
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ok, I am going to try and have some fun this year! Fuck it.
Going to take 30k and go all in, one stock at a time, with a goal being to make 15%+ per trade. Time frame does not matter. i will sell once up 15%(or set trailing stop). I may use a combination of shares + options, but it will always be on one stock.
Goal: Turn 30k into 1M via 25ish or so trades by the end of the calendar year.
Starting with RXRX!
Going to take 30k and go all in, one stock at a time, with a goal being to make 15%+ per trade. Time frame does not matter. i will sell once up 15%(or set trailing stop). I may use a combination of shares + options, but it will always be on one stock.
Goal: Turn 30k into 1M via 25ish or so trades by the end of the calendar year.
Starting with RXRX!
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Lunis
Blackwing Lair Raider
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Huge gap down on NQ tonight due to the tariffs, made a killing on a short right at the 6pm est open. I think it will sell off at least a few hundred more points, maybe even more before it attempts to move back up try and fill the gap.
Edit: It almost filled the gap earlier. Might get an algo push down only to come back and fill the rest of it.
Edit: It almost filled the gap earlier. Might get an algo push down only to come back and fill the rest of it.
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Lunis
Blackwing Lair Raider
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Idk how many of you trade futures but fading the extremes right now is extremely profitable. The random Trump tweets/speech about tariffs get these giant moves down of 100+ points. They often get retraced, or at least partially retraced. Here's one from the other day. Took 2 minis on the way down and caught a 90 point move back up. The yellow line was yesterdays close, it bounced almost perfectly off it. These are 1m candles.
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Palum
what Suineg set it to
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How do you typically trade MNQ/NQ? Stare at it all day? Plan to take a look when newsworthy events are scheduled?