What kind of strategy do you use? Based on IV, mispriced options or purely technical analysis on the stock?
The Official Trading Thread
- Thread starter mGrunin
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Lots of my learning was from the actual experience of trading. Also had a mentor at the very beginning which gave me a good head start. I started with around $60k.
Technical analysis.
Just to show you guys that trading isn't all gravy.
On Tuesday I took a $11k hit. Just made a video covering Tuesday and Wednesday:
http://www.youtube.com/watch?v=sJrVFIpG7ws
Good news is that with my Tesla position, I should still finish this week at a gain. Still up $20k from last Monday.
On Tuesday I took a $11k hit. Just made a video covering Tuesday and Wednesday:
http://www.youtube.com/watch?v=sJrVFIpG7ws
Good news is that with my Tesla position, I should still finish this week at a gain. Still up $20k from last Monday.
Do you pay your self a salary or just take last months profits as your income? How much time a day do you spend on research?
Two more question - when you place a trade, do you cap or limit the size of the trade to the certain percentage of your portfolio? Also have you considered starting a website and charging a membership and sharing your ideas? You could probably get around $100 a month per member.
Thanks
Thanks
I just take monthly profits out.
Well..since my trading is strictly based on technicals, I do not spread myself over that many stocks, and all the levels and patterns I have drawn out I keep open. So before/after market close..I spend maybe as little as 30 minutes adjusting the trendlines and such. Then when I am actually trading, I open up all the charts across my monitors, and keep a lookout for those levels. If I see them being hit, I make the play.
I wake up at around 9 am everyday, and when the day hits 4 PM, I am typically outside playing some basketball by 5 PM already.
That is correct. Simple risk management. General rule is that you never risk more than 5% per idea.
I actually do have my own forum! Only thing is that it isn't that active, but I do have plenty of info out there, and all my trades and setups are there as well. Have I considered making it paid at some point? Maybe, but it is far from that level. Even though I have a solid following on several trading social network sites, I have yet to get the forum to be that active.
Nice trade on TSLA, how long on average do you keep your positions? Or a better question how long do you take your ideas to work out before exiting your position?
Maximum hold on a position is a week. I usually have several of these positions that I will hold for a week. In addition to that, I have intraday daytrades which I might hold from 1 -4 hours.
For a week long position, usual time is about 2-3 days. For intraday positions, instantly.
Sweet call on TSLA. You are killing it right now. I saw that Tesla had a huge day, and was trying to remember who had it in there portfolio. Looks like you have a little extra cash for iphone stun gun...
Any thoughts on this OP?
Marc Faber: Look out! A 1987-style crash is coming
I'm not a big CNBC fan but this story seemed interesting.
Marc Faber: Look out! A 1987-style crash is coming
I'm not a big CNBC fan but this story seemed interesting.
This guy says this all the time. He is the editor of "The Gloom, Boom and Doom Report" lol.
Faber is a bit of a broken clock (and quite hyperbolic at times) however his track record shouldn't be ignored. He predicted the 1987 crash, called the NASDAQ top in 2000, advised buying gold in early 2001, predicted oil would hit $100 a barrel because of Asia years before it did, said the US dollar would rise and he called the recent US stock market bottom almost to the exact day in March 2009.
[ame="http://www.youtube.com/watch?v=1BgnSPnO-I8"]Marc "Dr Doom" Faber March 6, 2009 - YouTube[/ame]
The top of the market and a crash coming has been called every single month since March..but here we are..much higher than we were in March. I personally wouldn't trade in a way that would anticipate a crash since that is a good way to trap yourself on the short side. Since I am a trader, I am not too concerned with any crashes..hell I would prefer it. But if you are an investor, I would be cautious with buying at these market highs but I definitely wouldn't short until we first set a clear downtrend.
What technical indicators do you use for trading? Do you use moving averages?
I recently read Pitbull by Martin Schwartz, one of the best day traders and he seems to use moving averages a lot.
Whats your take on them?
I recently read Pitbull by Martin Schwartz, one of the best day traders and he seems to use moving averages a lot.
Whats your take on them?
Pitbull's a good read, also suggest "Come into my trading room" and"way of the Turtle." In terms of technical indicators simpler is usually better, find 2-4 indicators that work for you and stick with it. What I use- MACD Histogram, RSI-stochastic, ElderRay, and moving averages-10,25,&50 are my time intervals.
Huge jump in AAPL today. Glad I hopped out of my puts on friday, might have to reverse and go bullish if it jumps over 470. GOOG is still in no mans land, price points for that are 895 for long and 880 for short.
Grunin you getting trolled on stocktwits or what?