/biz/ - Business & Finance

>>18383675
>unable to manage risk because stop losses don't work outside of normal market hours
>betting real money on "hey maybe something good will happen, potentially!" in a game that is all about how accurately you can predict the future

you're like the kind of people who buy a bunch of options before an earnings thinking they know which way it will gap, thinking you can't be wrong.

>>17131058
from my experience, you'd do far better to buy the rumor and sell the news instead of playing a news event itself. make your money off of the hype building up to an event (like a potential buyout), sell as it peaks before the event, find out whether they succeeded or failed, then get back in for the drift after the gap up or down.

the problem is that everyone is a little bitch that wants the play the event itself and then they get mad when they lose. i keep this pic as a stark reminder and meditate on it every so often.

>>16649909
investors will never stop making us traders laugh. stock market goes up, i go long. stock market goes down, i go short. there are stocks crashing in this major bull market right now, there would be stocks going up in a bear market, this is what stock screeners are for. there are still going to be tons of earnings hype and post-earnings drift to be played predictably over and over again as a trader, regardless of what the overall market is doing.

there is easy money to be made in the stock market. there are extremely high probability setups. yet some of you fuckers CANNOT stay away from the "BEEG spike!" get rich quick bullshit. like, you could be making smaller amounts but over and over again which adds up and even compounds. but no, boomers need "the BEEG short! i want the BEEEEEG one!" then they lose all of their fucking money on some dumb shit. fucking disgraceful.

>>16514405
the main point is that you should be able to get the trend right roughly 80% of the time, and the rest of your algorithm should be about being able to cut down that 20% "dead zone" down as much as possible. it's what exit indicators should be for, to at least let you know when to not trade at all.

like after this big spike on SGMO today. who fucking knows what will happen next, and because it isn't predictable i'm gonna stay the fuck out of it. at the very least based on the price action my bet would be more down movement, but news events are precisely where TA doesn't work too well on a macro scale, but that is why you avoid them because of that unpredictability.

>>16514454
yes i have a real job, how do you think i saved up all of this money in the first place? and yes, i DIDNT know what i was doing when i put everything into SGMO, it was my first ever trade. i LEARNED all of this shit BECAUSE of SGMO, because I fucked up, it became an obsession of mine and honestly I love it, it's fun for me and I'm passionate about trading now. it's like a strategy game to me.

a better question to ask is whether you believe you can make an average of 1% a day consistently from the stock market using TA in some way? or let's even say 0.5% a day consistently, on average (the average part is important)? because as long as that's possible even with my capital i can make $50k/year and that's good enough for me to do it for a living, and that's what i've been spending all of this time collecting data to prove i can do.

>>16514465
how many successful businesses do you think are run by gamblers? it's a question of your way of thinking. some people take small but consistent bites out of the market, follow a strict system and cut their losses when necessary because they're small compared to their greater overall profits. some people do pic related.

which are you?

>>16453833
the way i did it was months of backtesting with historical data, followed by months of forward testing in paper, followed by months of forward testing with small amounts of money, and then over time i've increased the amount of money i put on any given trade. data/statistics are king, but luckily computers exist and can pretty much handle all of the number crunching for you as long as you can give them the rules to follow.

if you didn't do the backtesting and paper trading for months i'd say you skipped a few steps, but hey at least you're trading small amounts instead of big amounts like most dumbasses out there. pic related, fun example i think back to a lot (i bought into ATVI after it bottomed out after earnings, this guy played earnings with naked options). you can still look this post up on stocktwits if you want a deeper look.

>>16323631
>I try to buy dips in companies I like, I set a few limit buys for calls below the day’s lows so if they keep falling I’ll snatch them up.

neat. i've actually recently been learning a lot about options, it's something i've always just outright avoided because all of the "loss porn" i've seen has been tied directly to options so i've always seen it as high risk (pic related, recent one on the last ATVI earnings, made a huge impact on me about risk and gambling vs. running this like a business with discipline and consistency, not a get rich quick scheme). for me the big deal has been open interest walls and max pain, really blew my mind when i started seeing how it effects where market makers will often "pin" a price to a certain level, making certain day trades all of a sudden make a lot of sense and become extremely predictable.

if i ever did options i'd likely only do covered calls. i plan on learning all about iron condors and butterflies and all that shit too because im passionate about this and find it extremely fun regardless of the money involved, i love the strategy, but i can definitely see how learning the ins and outs of options can help me even as a day trader, regarding support and resistance levels.

in the end: as long as you're making money bro, that's all that matters. i'm just looking to make $200/day consistently, so don't think im making fun of you for making small gains or anything, it's just a different way of doing it. i'll definitely keep your strategy in mind though, i love hearing what other people's strats are and if they're working well, i often at least check them out for myself in my paper trading or back testing. i absorb stock market/financial education like a fucking sponge, i love this shit. it's like Magic: The Gathering but way deeper in strategy and you can actually make a ton of money off of it, I love it.

explain this to me. like im 5 years old. why the fuck would you ever do this to yourself?