Day Trading

Mike-NM · 08-08-2020, 10:02 AM

Just wondering who else day trades with their free time while RV'ing? If so what platforms do you use? I use Webull and E-trade.

harryjr · 08-08-2020, 12:02 PM

What's the best way to generate a $1,000,000 portfolio?

Start with a $2,000,000 portfolio and day trade. :<)

Mike-NM · 08-08-2020, 12:17 PM

Lol .... a lot of truth to that....

Riich · 08-09-2020, 06:55 AM

I use TDAmeritrade.

I was in the oil industry for 40 years so I play energy stocks. When the market went to crap I set up an account and went to buying. I told my wife, it can only go up, and up it has gone. So far I could easily upgrade my truck or camper, or buy another motorcycle.

I know a guy who bailed out of stocks when they were tanked. WTH! I could not convince him not to. He said he would buy back in later. I'm betting my gains that he hasn't yet. You just can't time the market. What's he going to wait for, another market tank? I'd love to know how much he lost. But hey, he's him and I'm me.

Mike-NM · 08-09-2020, 09:06 AM

Quote:

Originally Posted by Riich

I use TDAmeritrade.

I was in the oil industry for 40 years so I play energy stocks. When the market went to crap I set up an account and went to buying. I told my wife, it can only go up, and up it has gone. So far I could easily upgrade my truck or camper, or buy another motorcycle.

I know a guy who bailed out of stocks when they were tanked. WTH! I could not convince him not to. He said he would buy back in later. I'm betting my gains that he hasn't yet. You just can't time the market. What's he going to wait for, another market tank? I'd love to know how much he lost. But hey, he's him and I'm me.

Yep... I picked up a lot of stocks and made quit a bit of money when they dipped back in March and most recently a couple others. Just to name a few, bought Camping World for 3.50 a share and sold it for 40.00, bought PENN at 10.90 and sold it at 42.00 and recently bought Kodak for 1.80 a share and sold it for 55.00 a share. I tend to focus on low float, high short interest stocks. I also monitor all stocks that are or have Halted during trading due to price change. You can find it at
https://www.nasdaqtrader.com/trader.aspx?id=TradeHalts and I do my research at

https://fintel.io/

I have two rules...... 1. always take profit and number 2. never chase a stock.

My long term investment portfolio's are completely different and a totally different strategy. I do monitor them and when the virus talk hit back in January shifted them into stable funds tracking treasuries then when the market started returning shifted back into the market. My day trading strategy is a completely different animal has netted me a nice 4,793.73% annual return.

Bottom line is if you do your due diligence you can make some extra cash. My thoughts are if you know how and learned to work a multi-meter you can darn sure learn how to trade a stock with the platforms that are out there....

trockyh · 03-13-2021, 05:04 PM

I'm in the studying process at the moment. I retire in 8 months and plan to supplement my income trading.

Quantum · 03-13-2021, 05:23 PM

I don't have time for day trading (working fulltime) but I do all my own investing. Last March was stressful to watch, but I stayed the course. April made for a great buying opportunity and with my tax return, I did just that. I didn't go crazy, but I did double down on some investments that had lost more than 50% of their value, because I knew it would only be a matter of time before they went back up. 1 year later, the portfolio is looking very heathy and those April investments are doing quite nicely.

I definitely take a more linear approach to investing, I don't chase stocks, just invest in good companies or ETFs.

Mike-NM · 03-13-2021, 08:04 PM

I intraday and day trade every day and have been for for many years as a side hustle. Retired 9 years ago and the side hustle became a mainstay of profitability. If you need recommendations or advice just let me know. Below is a link to a great platform that I use for premarket and afterhours trading they will give you free stock for signing up. I also use Etrade for mainly market hours.

https://act.webull.com/pm/n3BoRhKmcVk2/fgi/inviteUs/

If you already have a platform keep an eye on CLSN and PPBT. I have bought and sold positions on both and currently hold positions waiting on them to rip.

sciencenerd · 03-14-2021, 07:29 AM

Quote:

Originally Posted by harryjr

What's the best way to generate a $1,000,000 portfolio?

Start with a $2,000,000 portfolio and day trade. :<)

This.

Here is my approach to investing, which I learned from the Bogleheads forum:

https://www.bogleheads.org/index.php

1) Invest early and often
2) Invest in a balanced mix of stock and bond index funds, according to your risk tolerance and age
3) Savings rate is more important than return
4) Time in the market beats timing the market
5) Stay the course
6) Tune out the noise
7) Keep costs low, avoid fees, front loads etc.
8) The brokerage wins every time you make a trade, no matter if you win or lose

I would recommend anyone who is interested in investing to check the bogleheads form. There is tons of info on there why timing the market and individual stock picking is an inferior strategy for the average investor.

Mike-NM · 03-23-2021, 11:35 PM

Quote:

Originally Posted by sciencenerd

individual stock picking is an inferior strategy for the average investor.

I agree with all your points from the perspective of a long term investing strategy but it depends on what you define as the average investor as it relates to day trading. Day trading and long term investing for retirement is two totally different animals and the approach one takes is completely different as well or at least it should be if you are wanting to make consistent short term profit.

An intraday trader or a day trader (two separate entities) is not my definition of an investor although technically you could argue a position that it is investing and therefore you are an investor as you are investing in a particular company by purchasing shares of it's stock. In reality, as an example, you are buying and selling at a pace which churns your money. To illustrate my point, buying a stock at a premarket price on a low volume dip and selling it for 20 cents more than what you bought it for on a market open high volume increase before it dips again and then doing it over again at 0930 or throughout the day when it breaks the VWAP and maintains volume for another 20 cents increase and then again into the aftermarket hours is the type of trading I am referring too. Of course there is always the chance that it does not dip or it does not rise but doing your due diligence and knowing what is happening with that company provides you an edge. The problem comes into play when your average so called investor or day trader fails to do their due diligence or buys when the stock is already peaked and are left bag holding a stock waiting for it to rise again. Take two stocks trading under 5.00, BNTC +4.32 and HOFV +2.56 today... those stocks went up 190% and 70.97% today a biopharma stock and Entertainment stock that many knew it was only a matter of time and made a lot of money off of it as I did while most of the market bled out.

Years ago, people did not have the platforms or tools to make informed decisions. Now they do if they use them. See the 1 minute and 15 minute movement on BNTC in the photo's below. The gray area is premarket and aftermarket. Bottom photo is an example of the tools and information available on a 1 day chart which includes, news, financials, analyst, target prices, institutional buying, inflow and outflow of buys and sells, positions and cost distributions. A wealth of information at your finger tips. That type of information was not available to your average investor or retail day trading investor years ago but it is now and informed individuals who are being smart about it are making profits.

jetlag · 06-28-2022, 05:26 AM

Quote:

Originally Posted by Mike-NM

Just wondering who else day trades with their free time while RV'ing? If so what platforms do you use? I use Webull and E-trade.

I don't day trade but typically look to be in a position for 1-2 weeks or a bit longer depending on the time of year, and I mostly trade options. I use Alchem Charts as a platform.

Onyrlef · 06-28-2022, 05:52 AM

Somebody 'bout to get hustled. I think it was Dave Ramsey who said, "When a victim gets hustled it's because there is an element of greed involved on their part". The trick for a hustler is in the bait.

Mike-NM · 06-28-2022, 09:19 AM

Quote:

Originally Posted by Onyrlef

I think it was Dave Ramsey who said, "When a victim gets hustled it's because there is an element of greed involved on their part". The trick for a hustler is in the bait.

Very true.... but the biggest trick is for the victim to be uninformed.......

Mike-NM · 06-28-2022, 09:35 AM

Quote:

Originally Posted by jetlag

I don't day trade but typically look to be in a position for 1-2 weeks or a bit longer depending on the time of year, and I mostly trade options. I use Alchem Charts as a platform.

Good for you..... Actually I have been trading this morning bought EVFM day before yesterday at .33 cents a share due to the recent supreme court decision on Rowe vs. Wade and sold it at 1.38 about an hour ago for a nice profit. Bought ENDP this morning at .43 it is sitting at .60 as I type bouncing off the VWAP. May take profit on it. Watching HTGM may take a position, which I had earlier this morning it is up 38%.

harryjr · 06-28-2022, 01:43 PM

Note that I'm not a financial advisor, CPA or tax attorney.
But, with short term capital gains federally taxed as ordinary income (10-37%) vs long term capitial gains (0-20%) plus any state taxes that may be owed on both, you'd better have a pretty good batting average on the "hit and run" investments to consistantly come out ahead at the end of the year.
If you can? More power to you.
YMMV

Keep in mind, a diversified investment plan is not you going to the crap table with half of your savings, while the spouse plays blackjack down the street with the other half.

Mike-NM · 06-28-2022, 02:21 PM

“Then saith he unto them, Render therefore unto Caesar the things which are Caesar's" and keep the rest for yourself.........

jetlag · 06-28-2022, 02:37 PM

Quote:

Originally Posted by Mike-NM

“Then saith he unto them, Render therefore unto Caesar the things which are Caesar's" and keep the rest for yourself.........

Amen

mrmom · 05-26-2023, 04:37 AM

I had a buddy that worked at Merrill Lynch and they used to call day trading "Going to the Casino"!

kirkelli · 05-26-2023, 09:25 AM

E-Trade and recently is been like playing with a Yo-Yo.. At the end of the day,, still earning but no where's close to the 'good ole days' back in 2018-2020..

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