BC TRADINGTHREAD
Saved by @TraderYogi999

Thread about what I've been doing and what I've found trying to trade options. All of this was inspired by @AdamSliverTrade @drippy2hard @WealthBrah .

 First thing I do is find any good traders watchlist. Sometimes they put their triggers other times they don't. For practice sometimes I'll type in "watchlist from:AdamSliverTrade" on twitter to see all of his past watchlists.
Like this:
Then I go to that date in trading view and only look at the past data to draw trend lines and support/resistance levels. So let's take $MU from his 11/30 watchlist and chart it out.
Normally I would look at the monthly candle, weekly, and daily to see if they have any continuity (all red or all green). But I can't really do that with past trades I don't know if the monthly or weekly were red before.
But this month MU was a red candle so I take note of it. The daily (on Nov 29th since that watchlist was the 30th is green). The weekly before the 29th was red. No continuity.
I didn't see anything that stuck out on monthly but the weekly chart I noted some support and resistance and then I charted the high and low of the section I'm looking at.
Then I keep those lines and go to the daily chart. I find more support and resistance lines. Then I go to hourly and find more. Now my chart has a bunch of support and resistance lines. You can mark each chart up with a separate color (ie purple for monthly, blue for daily,etc).
The main thing is that the farther out you are like monthly and weekly, the stronger that support and resistance is. So your hourly isn't going to hold as much value as your monthly, just something to take note of.
Now go to the 5m chart and zoom in to the day we're about to fake trade (in this case the 30th). In this instance this is what my chart looks like. Ignore the colors and all that I'm just doing it quick.
If you see my main support for the day was $85.34, and @AdamSliverTrade 's was $85.55. His triggers are better because he has more experience and he uses psychology numbers that he thinks will be better entries or exits.
My resistance was $87.10, his were $86.6. Now I just wait for the price to come near my trigger.
Here we see it broke down thru my support and opened at $85.21. Always wait for a candle to close before taking your position. The low of the day was $83.95. But you could've taken profit from several points thru the day.
The bad things you can do are 1) Think because 1 trade or idea or certain pattern/candlestick worked, it will work tomorrow. It could work 10 times and not work the next 50. 2) Not set stop losses. Sometimes you lose.
3) Think because someone took a trade you can swing it or hold long. The way I drew out the support and resistance levels made me say that I was looking at a day trade not a scalp or a swing. I got in at 7:55am and I was going to sell that day.
If @drippy2hard takes a scalp don't buy different expiry date hoping to swing it and get mad that you lost. His strategy was to get in and get out quick based on his charting and flow analysis.
I am not a financial advisor I'm not even a good trader right now. But I think if you're beginning the trading journey you can find some good in this thread.
I also want to point out that further confirmation that I was going to buy puts can be seen when it breaks down thru the weekly trend line shown below

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THREAD // How I Invest

1. Successful Investing starts with Education
2. Psychology of Trading & General Rules
3. Essentials of Fundamental Analysis
4. Master Technical Analysis
5. Screening for Stocks
6. Making a Watchlist
7. Money Management
8. Diversification of Accounts

1 // Successful Investing starts with Education

Following 2000-2002, I realized that I needed an education to help me understand many of the topics mentioned in this thread.

So, I started to educated myself using books. Seek mentors as well.

Then


2 // Psychology of Trading & General Rules

Develop a working SYSTEM (for you)
Preservation of capital
Consistent profitability
Cutting losses short
Superior returns

Understanding “You”:
What is your general personality?
What influences your decisions?
What is your lifestyle?

3a // Essentials of Fundamental Analysis

Earnings Per Share:
1. % Change in Latest Qtr EPS vs. Same QTR Prior Year
2. % Increase in Next Year’s EPS Estimate vs Prior Year’s Actual EPS
3. % Change in Latest EPS, trend past several qtrs
4. Annual % EPS Growth Rate of Last 3 Years

3b // Essentials of Fundamental Analysis

Sales / Revenues
1. % Change Latest Qtr’s Sales vs. Same Qtr Prior Year
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I'm often asked how one should study a market, so here are some thoughts:

Studying a market is different, from learning how to trade.

Learning how to trade includes everything from managing risk to managing yourself.

Studying a market is simply the process of looking for an edge.

Once you have identified an edge, you still have to learn to trade it.

The best way to study a market is to watch it as closely as you can but always using a frame of reference.

You should pick a frame of reference and exhaust its possibilities.

For example, you could use a time-based approach.

You could study how the market moves at certain times of the day, week or month.

I knew of one trader who made his money (and he made a lot of it) by studying specifically how the ES behaved at the end of each month. His entire edge was created around this.

I know of another successful trader who focused exclusively on the 8am open in FTSE futures.
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#tradingtips #entry #riskreward 1/5
If price is extended from ema or makes New Highs and you slap the ask, you already skew your risk reward (in case of short you slap bid at new lows)
You have to let entry come to you for best risk reward, find pullback in the trend!

#tradingtips #entry #riskreward 2/5
When you chase, you are one providing liquidity to someone who is going to exit at that price, so you will be immediately down or negative in your position.
Even though our mind is wired to give us FOMO and we click the market buy..its wrong

#tradingtips #entry #riskreward 3/5
rather than skewing your risk reward chasing 5 plays....wait for a pullback in trend on 1 play and have size with conviction with clear support/risk off level...same if shorting...wait for resistance level bounce

#tradingtrips #entry #riskreward 4/5
If Day Trading, Tape Reading and watching where most volume is being soaked is key level for entry (Example VRPX at 8 today)...add those tape reading skills for better entry...along with support/pullback level

#tradingtrips #entry #riskreward 5/5
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Backtest Entries! Very important
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making sales \uea00
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@making_sales
A COMPLETE BREAKDOWN OF MY MOMENTUM DAY TRADING PROCESS.

[THREAD]

A process is just a set of rituals you complete consistently every single day to achieve a certain outcome (profit).

A process requires an edge which is simply a statistical advantage you have over other players. A strong psychological state can be considered a bonus edge.

I believe that trading can be split into three elements:

1) Knowledge and idea generation
2) Method and trade execution
3) Risk management and mindset

Each element is necessary and it builds a solid foundation in your trading process.

These factors make up the trading trinity.

MY SCANNING PROCESS:

In PM, I look for:
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- Notable volume on gappers
- News or catalysts (to justify gap)
- Float (<50M)
- Market cap (<500M)
- Range (check daily)
- Price (<25)
- Stock personality (check daily)
- Filings (cash on hand and offering potential)

I like to use websites such as:
- https://t.co/dGrDjwtOR8
- https://t.co/Vc256oZCre
- https://t.co/AFrA2ebGr6
- https://t.co/N9nDmqz54E
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Trading Warz
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The Truth About Trading (Thread)

1/ Risk Management & Consistency

Everything works in the stock market just NOT all the time. You can trade RSI, MACD, Bollinger bands, Volume, and they all will win for a period of time and lose for a period of time.

2/ YOUR JOB as a trader is to MANAGE RISK. Every good trading strategy WILL boil down to a 50-60% accuracy overtime and I know this from 1000’s of hours of back testing.

3/ To be profitable, follow this SIMPLE LAW:

AVERAGE WINNER > AVERAGE LOSER
Below is a table I’ve created showing the total number of winning trades (per 100) you need to win to be profitable:


4/ As the risk to reward increased the required win rate goes down. The sweet spot I’ve found is scaling out your positions and cutting your losers to get you close to 2X your average loser. In this case, you only need to win 34/100 trades in order to be profitable. YOU CAN DO IT

5/ The key to success in trading (repeat everyday):
1 – I have no attachment to any stock or instrument, my job is solely to manage risk
2 – I am a Casino; I take all trades that fit my trading plan because I know my edge is profitable
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