Very good advice! I have recently gotten more into trading as opposed to just investing because i think the market is fucking toast here so i sold everything, trying to make money short term is a different ball game than just sitting on it for years, and swinging it. I cut my teeth as a day trader so I think I get it, made myself a millionaire doing it. And FWIW the moving average on the chart is VWAP, I dont use it for indexes, its a default setting and percentages outside of VWAP I dont specifically trade on it but its helpful knowing roughly where VWAP is on stocks..... Thanks for the advice!!
I've traded longer than most traders. I've looked at MA's extensively. They do not work! They work some of the time -- in bull markets. Everyone is a genius in a bullmarket.
I don't believe in investing. Investing is another word for buy and hold. I don't believe in buy and hold. I don't believe in believing. I don't believe in VWAP. VWAP imo is only good for intraday, you can't use it multiday. Even then, VWAP is just another pos indicator, makes very little sense, I think fundies use it for scaling in and out so they don't push the market when trading size.
I agree with you 100%, I dont pay attention to indicators, except maybe the 50 and 200 day MA, and the only reason you pay attention to those 2 is because enough people pay attention to it to make it valuable. I dont believe 100% in buy and hold either hence the reason why im here. I make decisions based on an overall direction i see in that market for the most part...... hence why im long a bunch of oil stuff even though the charts look like shit..... my bet is on oil we will see if im right
How i got carved up in the NQ today I still have a position for 400 shares of the QQQ from like 300 i never plan to sell that so i thought i would fix the fact that it was failing. And I was wrong
The more eyeballs that there are on an instrument, the more difficult it is to trade. There's a sweet spot somewhere, not too many eyeballs and not too few eyeballs, inbetween is where to trade. Crypto for example is an instrument becoming now with too many eyeballs. Crypto for example needs a reset where the bulk of traders need to fuck off because they've been burnt, then it becomes tradeable again.
1000% Agree with this statement!!!!! I had no business being in the NQ at that level yesterday!!! My money gets made in small cap stocks very specific where there is an edge and you are not fighting with institutions who know more and are faster than you.
What I try and do is find stocks which over the past 3 years swing the greatest, large moves. Then find those in that group which look like in recovery mode.