/biz/ - Business & Finance

Waiting for another 5m candle over candle to form on TSLA. 239.84 is the current entry until the next 5m candle. Not really interested in 1m candle plays at this point due to heavy topside resistance. Not looking to short either.

The 5m candle over candle played out (picrel) and I'm done for the day.

+1609.26 gross
+1584.48 net after fees

will attach fills in next post.

There is zero point in “trading” stocks as a retail investor. You simply won’t overperform index funds. If you want to improve your returns, pick better funds.
If you absolutely MUST trade, do arbs/stat arbs in crypto. Even if market inefficiency in crypto has been drastically declining, it’s still multiples of what you’ll get in tradfi.

Fills for today are picrel. Started out a bit choppy. Second trade entry was late and instantly pulled back. Third trade was a dud, quickly cut losses on it because I didn't like the setup (essentially a repeat of the 2nd trade but got out quicker for a smaller loss on this attempt). Went on to play a couple smaller 1m candle over candles to the upside and then a couple 5m candle over candle also to the upside. Not a bad day overall, could have been better but I'm grateful for what I locked in.

As always, God is great and Jesus saved my soul.

I'm getting frustrated trying to find a platform and particular markets to zone in on. These fucking spreads and fees are all over the place. How am I supposed to consistently scalp 30-50 pips if I've got a 40pip spread? I understand this all changes based on the markets at the time and the platform, but damn...idk how to make a plan yet with all these variables.

I don't have/not willing to open a regular trading account with $25k right now, so I've been looking at defi platforms to trade forex and maybe crypto and commodities. I'm planning on following the suggestions for new traders and just use a $1k bankroll and 1-2% per trade ($10-$20). I've been leaving gTrade open this week and testing the little I've learned so far to see if I can make calls on USD/MEX, USD/JAP, XAU/USD, BTC/USD and YFI (than one was moving like crazy earlier in the week). The charts on Monday and Tuesday earlier in the morning, and the fees and spreads were straight up making me think this was some easy money lol. Yesterday it started changing dramatically with .02% spreads on things and not nearly as many double bars etc...

Anyway, I'm not even a week into seriously learning T/A and chart watching specific pairs, so I'm not dead set on any particular markets or platforms. I'm just trying to find a niche. I'm in the US and I've looked at a few of the offshore places like Hugotrade, but i see a lot of complaints on their charts and margin calling people early. Does anyone have recommendations on platforms and markets for a new trader in my position just trying to learn. A practice account is great as well, provided I can actually start trading there with a $1k bankroll and $10-$30 trades

>>56682488
I have 6 figures in crypto. I max out my (and wifes) 401k annually and also do employer match via my business. If you haven't been following along, I'm producing 10% monthly returns consistently. Find me an index fund that can produce even half of that and I'll quit day trading today.

>>56682536
Finding a tighter spread is essential. I'm really really ignorant on forex. I wish I could be of more help to you. Is scalping forex a thing or is generally a longer term trade? Have you found examples of traders who do it successfully over a long period of time?

I'll take a look at some of the defi pairs because I'm very interested in defi and want to grow my knowledge of it. Sometimes the best trade is not to trade at all. Difficult to accept, but it's true.

>>56682586
I hear ya brother and I'm ok with simply not trading at times if it's "cold" lol.

Many forex traders are scalpers. Consistently averaging just 40-60 pips per day is considered pretty decent for a newb. It's all relative of course, but if you had the bankroll to take a $5/pip that's $2-$300 a day for a just a few scalp trades. gTrade has a lot of pairs, but some are kinda dead, or only active on Arb (which requires larger positions). GMX is much better on fees and spreads, but only has about 8 pairs and they're all crypto. They are all traded heavily though. I haven't looked at too many offshore places but some people do use them and they almost always have the major large cap stocks. You have no recourse if they fuck you though (which I guess isn't much different than defi lol).

>>56682539
Whatever you claim doesn’t dispute hard facts. Sure you can get lucky a couple of times, but that doesn’t prove anything. You do know stocks and especially derivatives are a multi trillion dollar market right? Any inefficiency that exists is instantly pounced on, and any bid you think you’re a genius for filling is something you’re only offered because the good ones are long gone.
And if you’re making “consistent positive returns”, that’s only because you took on more risk. It doesn’t actually mean your risk adjusted returns are any better. And besides, the actual optimal strategy could very well be, and likely is in fact, something with an abysmal win rate, where overcompensate the losses by finding the next google or bitcoin, not by financing your brokers next vacation by racking up fees think if your some kind of “day trader”.
I’ve been trading for years as a hobby besides having a normal job and I can tel you I realised quickly unless I’m in a specific niche where I actually have an advantage and am not competing with millions of people, I still only make money when I react to new information in seconds, and CORRECTLY.
And that’s in a much less efficient market. You simply aren’t ever “beating the bank” trading large cap or even small cap stocks as a retail investor except by chance.

>>56682488
by the way, are you the same fuddie that keeps coming in here saying the same shit everyday while I continue to post green days over and over?

I started this string of threads on Monday of this week. Starting cash balance on Nov 13 for this account was $161,473.27

> Nov 13 EOD = $162,875.67
> Nov 14 EOD = $164,184.91
> Nov 15 EOD = $164,938.13
> Nov 16 EOD = $166,522.61
> 4 days = 3.12%

Sure, I will have red days, without question. I generally have about 2 red days per month (21 trading days). I'm not unrealistic. PnL will fluctuate a bit, but the average has been fairly consistent over several months.

Now lets take a look at SPY. As I'm sure you're aware, SPY had a massive gap up on the CPI report.

> SPY Nov 13 Open = 439.23
> SPY Currently = 449.79
> 4 days = 2.4%

You couldn't ask for a more generous SPY gain over a 4 day period. Typical ANNUAL S&P gain is what... 7 or 8%?

It's not for everyone, in fact it's not for most people. Most people will fail at this, however the very few that succeed will do extremely well with it. I've made millions of dollars by being the 1% that succeeds in multiple business ventures. Keep coming back to fud me, it really makes the continued success feel wonderful. I worked harder for this than you'll probably ever understand. The emotional ups and downs that led to becoming a consistently profitable trader almost defeated me. I will CONTINUE to overperform the index. I will continue to share my results daily, good or bad. I won't hate on the success of others, but instead I will immerse myself in the success of others so I can continue to learn and grow. I wish you the best anon, I truly do, and while your fud may be well intentioned, you're barking up the wrong tree.

>>56681885
thanks anon keep up the good work!

>>56682744
I'm not here to "beat the bank" friend. I'm here to snatch pennies. I'm plankton in an ocean of whales. A parasite sucking on algae on the backs of whales. I know my place in the market. I don't think I'm some kingpin. I don't get lucky "a couple of times"... my win rate has settled at around 55% after THOUSANDS of trades. My average win is bigger than my average loss. I think you're projecting your failure as a hobby trader onto me. Get rid of that toxic trait brother, it will only hold you back in life. I pay $0 in broker fees, and maybe around $10 to $20 a day in trading taxes. Many brokers make their money by selling order flow data. Your comment about needing to take on "more risk" to have consistent positive returns... what the hell does that even mean man, my share size has been the same for some time now. I literally funded my 401k contributions for 2023 from the gains in my trading account. Believe it or don't, but this is the last time I waste precious time out of my life to attempt to help you fix your toxic self-limiting mentality. You could be running your own business instead of "working a normal job". You could be shooting for the stars. Don't ever give up on the dream. I have made dozens of businesses (my clients) millions of dollars because of keen attention to analytical detail and obsessive, relentless testing. I have pioneered entire marketing verticals. Don't set phycological limitations on yourself out of "prudence" or "rationality". We limit ourselves in this way. So much more is possible, and when you realize it, you will unlock a world of optimism within yourself that will propel you to levels of success you only dreamed of. Thanks for attending my ted talk. I'm going in the woods in my backyard to work on a ground blind so I can harvest the buck that is making appearances on my trail cameras.

>>56683079
Enjoy man. I have a blind in my backyard as well but I'm not even bothering this year as I don't have any more room in my freezers lol. I've obviously got a lot more research to do and it's my wife's birthday today so I'm taking her out soon and not looking at charts for a while. Thanks for posting your trades again today and for the encouragement!

>>56683206
where you at anon, north tx here

>>56682539
Thank you for your irl examples anon.
Any favorite tickers or just sp500/btc?

>>56683535
I trade mostly large cap tech stocks with bid/ask spread of .05 or less and daily volatility range of 2% or more. TSLA is my favorite.

>>56683380
PA. Rut is peaking RN and the fuckers are all over my property earlier mornings and dusk. I know exactly the trails they use and where some of them bed. I tried for a particular 6 point last year and I'm almost certain I've seen him again this year. The bucks know when opening day is here kek.

>>56682866
hey OP, just wanted to tell you that what you do is useful for some. It's really inspiring for the trader that I am, even if I'm a profitable trader since 6 years, I am far from your profits and PnL and I hope I'll get to that level one day.
I really get what you say when you talk about the emotional ups and down that almost defeated you.

Please keep the good work, and update us if you like even if /biz/ kikes will hate it I don't give a fuck.

>>56682488
"Muh inefficacy's don't exist".

>>56684282
Ok I can't spell. Point still remains.
https://pastebin.com/Vtg1hD2G
There's opportunities in the markets everyday, the problem is people often trade the wrong shit. 98% of stocks are not worth trading on any given day.

>>56684324
>>56684282
Here's a large cap from today. Gap and crap on Macy's. Slower than I would have liked but it got the job done.
Verification not sneeded

>>56684355
Helpful tips for new traders

>>56684396

>>56684282
Here's more market efficiency in action. Still running, this is from today. Very difficult to trade though, it's halted 18 times so far.

>>56684324
picture perfect setups

>>56681885
Thanks fren. Good job on the TSLA trade today. I like that you actually use multiple frames to analyze your trades.
https://pastebin.com/Vtg1hD2G - Check this out, we could use people like you in here.
I've been meaning to do a Day Trading General for a while, so I'm glad you've been making them. If you keep making them I'll keep posting in them.

Another unrelated pic for new trading frens

>>56684282
>>56684537
Unreal pump on SGD today. Up 1000% now. On Halt #23 so far