Day trading help

beerntrading · Apr 20, 2017

JCR said:
· Don’t pay anyone for newsletter, classes, chat rooms, BS, etc.

· Managing risk is your main and only priority. The profits will come, but not if you have no money left.

· Develop a watch list of stocks that tend to move. This is dynamic and you need to do your homework. Example: BLUE, CLVS, TWLO, X, AMD…

· Learn the behavior of the stocks at the open. This is usually your best chance to capture a move.

· Be quick, decisive, and fearless. Don’t get greedy. You said $200 stick to that per trade. If it shoots up and you’re up $700 take it gracefully.

· The exit is just as important as the entry. Don’t let the winner turn to a loser.
More...

I could swear I typed that...well, until the last one--I tend to look for multi-day positions.

I keep a "50-List" which is 48-55 symbols I watch and know closely, and another "100-list" which is 50 more for weeks when I don't spot a good opportunity. The full Dow is on those lists, and all are S&P 500 components. That said, I tend to be particularly active on only about 20 of them.

Overnight · Apr 20, 2017

bmw335isedan said:
If I used an Italian car model name, that would be alright? Childish worthless comment lol

Sorry I am not giving away my identity to a total stranger, but it is an American owned Singaporean hedge fund.
More...

You claimed that your Star Traders (scalpers) at your firm are making 700% year returns trading low margins. Please, let us know A.) How knowing the identity of your firm would allow us to know the identity of you, which you fear for no reason other than you are doing something illegal.

B.) Singapore hedge fund, making 700% per year per trader. Oh yeah, probably illegal. You're right, we don't want to know your true identity.

bmw335isedan · Apr 20, 2017

Overnight said:
You claimed that your Star Traders (scalpers) at your firm are making 700% year returns trading low margins. Please, let us know A.) How knowing the identity of your firm would allow us to know the identity of you, which you fear for no reason other than you are doing something illegal.

B.) Singapore hedge fund, making 700% per year per trader. Oh yeah, probably illegal. You're right, we don't want to know your true identity.
More...

Okay it is a last reply to you. Star traders (scalpers) can't trade entire funds due to liquidity issues. So even if they make huge returns, it is quite small in terms of whole fund size.

Overnight · Apr 20, 2017

bmw335isedan said:
Okay it is a last reply to you. Star traders (scalpers) can't trade entire funds due to liquidity issues. So even if they make huge returns, it is quite small in terms of whole fund size.
More...

Fund size doesn't really matter I guess. 700% is 700%. What is "quite small in terms of whole fund size"? What does that mean? If I could take 10,000 USD and turn it into 70,000 USD in a year, I'd be quite happy.

Prove it.

speedo · Apr 20, 2017

MoneyMatthew said:
He probably is just happy to own a BMW. I was going to post a picture of my BMW but I did not want to get the types of responses that MarketSurfer gets when he posts pictures of his car. Maybe I can come up with a slick way to pretend to be showing a picture of something else(let's say a burger from a fast food joint and take the picture of the burger while still showing off my car...that should work!
More...

Surf has to get his fat ass and greasy burgers out of the car before the owner gets back.

Muffhands · Apr 20, 2017

MoneyMatthew said:
He probably is just happy to own a BMW. I was going to post a picture of my BMW but I did not want to get the types of responses that MarketSurfer gets when he posts pictures of his car. Maybe I can come up with a slick way to pretend to be showing a picture of something else(let's say a burger from a fast food joint and take the picture of the burger while still showing off my car...that should work!
More...

i doubt somebody working for a firm making 700% a year regularly drives a 335i sedan

dealmaker · Apr 20, 2017

Muffhands said:
i doubt somebody working for a firm making 700% a year regularly drives a 335i sedan
More...

In Singapore cars a super expensive, even the cheap ones...

carrer · Apr 22, 2017

BMW 3 series sedan prices

Singapore = $202,800
U.S.A. = $38,750

That explains the nickname.

Steve Alexander · Apr 22, 2017

birzos said:
So you want to make a 100% return per year on your account, here is a normal distribution.

The benchmark return on an account with $100,000s in capital is 15-20% per year so that someone can quit their day job, that is equivalent to the return you're looking for. This sits around the 2.5σ or top 0.75% on the normal distribution, close the same knowledge a millionaire has.

You want to do the same with 10x less capital, for each reduction in capital by one zero you need to increase the sigma level 0.5σ, which means what you want to do is in the top 0.1% of all traders (3σ) to generate $40,000 per year trading full time with $30,000 capital part time, which in itself would require at least another 0.5σ to 1.0σ increase to offset the lack of time.

I would like to say your idea is deluded, but as it turns out that is how human psychology works, everyone thinks they can be the best with no experience, no capital, and no time. But it's fascinating to watch, your first issue, the markets work a lot slower than you think, actually around 100x slower so unless you 10x leverage up, which requires a suitable 0.5σ increase in perfection, and reduce your timeframes which requires another 0.5σ increase in perfection, you'll find out when your capital evaporates it just doesn't work your way.

So, in summary, what you want to do has approximately a 99.9936657516% chance of failure, if you believe you can beats those odds, and once in a blue moon someone does, it's a fantastic idea.

Side Note: the truth hurts, but the markets really don't care, they want your capital and you're already well on your way there.
More...

Yeah, what he said. Good luck to you; you'll need it.

Mtrader · Apr 22, 2017

Muffhands said:
i doubt somebody working for a firm making 700% a year regularly drives a 335i sedan
More...

So you link successful trading with the car he drives??? LOL.
I know a scammer who drove an expensive car and lived in an expensive house as he was successful. He is now in jail. He used clients money for his lifestyle and was never successful in trading. A Madoff type.
From what I read Buffett drives a car that is far cheaper than a 335i.

http://www.sgcarmart.com/new_cars/newcars_listing.php?MOD=bmw