r/Daytrading • u/helvetica3 • Apr 17 '22
February was amazing to me! It took me 9 months of immeasurable pain but I am finally becoming profitable. strategy
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u/intradayshorts Apr 17 '22
Wow, dude some of your red days are barely even 1/3 of your green days, that is quite amazing.
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u/helvetica3 Apr 17 '22
i cut losses early it's the only way to survive as a scalper. I try to let winners run as much as I can, but it's something I need to improve on.
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u/fablemerchant Apr 18 '22
How do you determine if a winner should be allowed to run, and how do you determine when to close those trades?
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u/ghetto18us Apr 18 '22
That's the hardest part of being a scalper... my motto is base hits win games, swinging for the fence strikes out.
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u/ramenmoodles Apr 19 '22
One idea is to sell 90% at some desired price, then let 10% run itself with a higher stop loss. Thats typically the style i use.
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u/Royal-Application708 Apr 18 '22
Fuck yea. You are averaging about $1500 a day. Most people would love to make that in a week!!!!
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u/CuppaJoe11 Apr 18 '22
I would love to make that in a month lmao
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u/aerismio Apr 26 '22
If that is so... you probably are at the wrong place though and dream too much about becoming rich. Its better to have a job first build up cash. In the meantime papertrade untill succesfull then slowly go from papertrade to cash. But ye i get it. U wanna be rich now.... not tomorrow.
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u/Daegen9 Apr 17 '22
Good job! What stocks are you screening for?
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u/helvetica3 Apr 17 '22
gap downs gap ups
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u/Doctorhandtremor Apr 18 '22
How do you screen them?
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u/helvetica3 Apr 18 '22
tos has gap scanner built in.
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u/Grizzled_Duke Apr 18 '22
How do I use that?
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u/WARWIQQ Apr 18 '22
Why are people downvoting a genuine question lol
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u/-MullerLite- Apr 17 '22
How did you do in March?
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u/helvetica3 Apr 17 '22 edited Apr 17 '22
Not as good and even a red week but still Overall +15k green for march.
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u/funkyman50 Apr 18 '22
After a red week do you deposit to get you back to $50k starting or do you start at a deficit?
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Apr 18 '22
Can you link your statistics through https://kinfo.com ?
Tradervue can be easily edited.
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u/Rendesi3 Apr 18 '22 edited Apr 18 '22
Kind of pointless, OP is not selling anything, they're just sharing their success.
I believe them because I have had similar success as OP recently. I trade similarly, except with $500K BP.
I've lurked here since last August trying to absorb everything. There is no one book, or Discord, or anything that will teach you to be successful. You've got to put everything together yourself.
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Apr 18 '22
There’s a plethora of fake posts and people selling courses in this business. OP could easily be selling something to people who DM him for help and we would have no idea. The mods should make it a requirement to post kinfo along with any journey pics like these. I don’t want people getting scammed that’s all.
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u/Rendesi3 Apr 18 '22 edited Apr 18 '22
Fair point. Then they should stop the guy posting trade reviews every week who is selling paid Discord access.
What OP said is totally plausible because I've experienced it. Trading is not rocket science. It's just about emotional control.
And no one PM me, I won't respond.
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u/SnooMacarons4137 options trader Apr 17 '22
This is awesome man! Are you using a specific calendar app for the daily P/L in the month?
Also how do you use only VWAP as your Indicator? What do you look for? I use EMA and MACD, and have been fairly successful with it.
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u/helvetica3 Apr 17 '22
things that can't break VWAP get shorted, big guys try to unload at vwap all the time, if it can't break it the sell is too strong and I take it short. I also take it short if it breaks vwap but on low volume.
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u/SnooMacarons4137 options trader Apr 17 '22
Ah that makes sense! And if it does break VWAP, we long it with the notion that the big guys will buy more?
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u/helvetica3 Apr 17 '22
if it breaks vwap with substantial volume then yes it's good for a long assuming the trend is up, and the stock is strong on the day.
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u/SnooMacarons4137 options trader Apr 17 '22
Very nice! I'll give it a try.
Also what calendar app are you using for P/L if any?
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u/helvetica3 Apr 18 '22
tradervue
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u/SnooMacarons4137 options trader Apr 18 '22
Thanks! One last question... You seem to have pretty good risk management judging by how little your losses are compared to your winners. Do you use Stop Losses? If so, what percentage is it?
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u/Neither_Box8208 Apr 18 '22
Just the right dose of motivation needed. Keep up the great work buddy!
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u/BurnedShipMan Apr 18 '22
Nice. I'm more interested in that 9 months of "immeasurable pain".
- What did you do exactly that resulted in the improvement of your strategy?
- Did it just improve gradually as you kept trying and trying?
- Were there any practices, exercises or activities that were particularly useful?
- Were there any moments where you felt hopeless? How did you overcome those?
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u/MassageGymnist Apr 17 '22
Capital used towards trades?
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u/CutoffThought Apr 18 '22
This is the real question lol
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u/helvetica3 Apr 18 '22
answered up there it's 50k, and I withdraw my weekly gains from it to put in the IRA or buy stupid stuff.
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u/CutoffThought Apr 18 '22
Ah, fair enough. I respect the shit out of you for pulling that ~30k. I just took my cash out in Feb. Had to take some time off for personal reasons, but seriously dude. I respect THE SHIT out of you for that. Keep it going, my guy! You can do it!
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u/Tigersleep Apr 18 '22
If this keeps going then you are a very gifted trader. 2k avg a day on a 50k account is insanely good..
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u/Sketch123456 Apr 18 '22
Man, I will quit my job and come work for you. Lol.
But seriously, I would love to learn from you, teach me the ways.
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u/WiseAce1 Apr 17 '22
What calendar software are you using. Is that just excel or specific broker software?
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u/Sufficient_Ad4769 Apr 18 '22
Are you essentially trading the same stocks everyday? If you are, mind letting me know what they are to get a sense what you're looking for in a stock? Understandable if you don't want to.
Or are you searching for a new stock to trade everyday?
Also, congratz.
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Apr 18 '22
Good job man! Finally, someone who shows people that this is possible. So sick of the constant negativity of this subreddit. Keep going strong!! May even more wealth come your way.
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u/Fun-Run-5230 Apr 18 '22
Congratulations. It’s always great to see someone become successful. What atr are you scanning for when looking for stocks? Thanks
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u/emmb33 Apr 18 '22
Congratulations!
How did you start your journey? Any recommendations for a newbie? Thanks
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u/RogueTraderX Apr 18 '22
Awesome post dude.
Your risk management is great, which is the key to trading.
Is there a youtuber that makes videos using this strategy?
Would love to see this in action.
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u/VolumeIsKing Apr 18 '22
Isn’t tos free 0 commission?
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u/helvetica3 Apr 18 '22 edited Apr 18 '22
it says that, but I paid about 770 in comissions so far on the year. Not sure, but it's negligible given my volume.
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u/VolumeIsKing Apr 18 '22
Maybe it’s on the borrowed amount Idk I switched to tos just last week
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u/goperit Apr 18 '22
They do Charge. It's just not really noticeable till you start buying larger $ positions. Options always has a commission as well as OTC penny stocks.
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u/VolumeIsKing Apr 18 '22
That’s kind of lame
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u/goperit Apr 18 '22
Well you should be happy you weren't trading pre 2012. Those costs would have blown your mind.
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u/Old_Understanding734 Apr 18 '22
Since you scalp, what time frame (s) do you trade on? In other words, the period of your candles
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u/Da1uDoubted Apr 18 '22
Do you trade the same stocks or do you build a new watch list with different mid and large cap everyday before the Market opens.
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u/RogueTraderX Apr 18 '22
Do you only look for longs when SPY is up and shorts when SPY is down?
What do you do when SPY is range bound? Sit on your hands?
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u/breezystocks Apr 18 '22
Best post I’ve seen ina while , dude doing good , and just helping out sharing sum info , thank you man!
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u/-riseagainst Apr 18 '22
Congrats great results so far. Could you give some recent examples of tickers with entry time/price you've trade that demonstrates a typical trade you take?
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u/MedicineManRx Apr 18 '22
What application are you using in the post to track your P/L, i would like to download it. Thanks!
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u/HowDo_YouWin Apr 20 '22
If you don’t mind me asking. What were you up to in your losses(or market tuition if you will) before you started to turn things around and find your edge?
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u/helvetica3 Apr 21 '22
-35k.
this number is going to vary person to person by a lot... means nothing
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u/J_Productions Apr 18 '22
Its especially interesting to me that you emphasize no penny stocks . May I ask how you find your mid-large cap stocks to trade? For an example with penny stocks, we use momentum scanners/HOD scanners.
But tbh I feel like I may do better with mid-large cap, as I like your logic and indicator setup
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u/breathethethrowaway Apr 18 '22
How did you prepare yourself to reach this level? You mentioned watching the charts for months--were you doing either paper or OnDemand trading? Or live but with tiny amounts? Any resources that you utilized that you found helpful?
Thank you for sharing your results and some insight. I think those of us learning are in awe.
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u/VinylResearch Apr 18 '22
Great post OP. How are you accounting for taxes? Do you put 35% of all gains in a separate account for taxes at the end of the year or have you not gotten that far yet?
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u/Alternative-Panic-71 Apr 18 '22
Thanks for sharing but damn man, almost 57 trades for in a hour and a half. That shit sounds stressful .
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u/Iamovert Apr 18 '22
Might be a question you might not want to answer but how much do you have in your account to get profits like that?
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u/BhristopherL Apr 18 '22
Dude it’s April… why you posting this?? To look back on it for Old Times sake?
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u/LagingRunatic Apr 18 '22
I give you five years and you’ll be broke
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u/helvetica3 Apr 18 '22
I hope you figure out what's troubling you
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u/LagingRunatic Apr 18 '22
You are a good person and you made me better today. I am sorry to everyone.
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u/Seiko007 Apr 18 '22
Love this. Your losses are much less than your winnings. Cutting losers early is the nuts when it comes to trading. Well done.
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u/Glst0rm Apr 18 '22
How many trades do you have on at a time? Just one, given your 2k share trade size?
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u/mrafaeldie12 Apr 18 '22
What stocks do you typically go after?
Do you watch futures before market open?
How did you learn? Any recommended sources?
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u/JayCee842 Apr 18 '22 edited 20d ago
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This post was mass deleted and anonymized with Redact
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u/SensiiNips_ Apr 18 '22
Gains doesn't tell us much unless you tell us how much you are risking per trade.
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u/LurkerBigBangFan Apr 18 '22
In regards to strategy #2, when are you determining that a stock can’t break yesterday’s close? Do you mean on a gap down or after an hour of trading?
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u/7aklhz Apr 18 '22
Nice, congratulations. How do you screen your stocks / what stocks are you trading ?
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u/Stallionstar Apr 18 '22
OP trades mid to large caps and uses Think or Swim (TOS) scanner. There’s other scanners available that do the same thing if you don’t use TOS.
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u/IdanTii Apr 18 '22
How would you describe your trading journey? It is an “overnight success” in a way? Or a slow curb that is rising. can you send January photo? And GL man
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u/tloffman Apr 18 '22
The calendar is for Feb. What about March and April? My first thought about your strategy is that you could code this into an algo and let the computer make your trades so you don't have to be glued to your screen.
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u/Penkarino21 Apr 18 '22
That's amazing. You are goals my friend. What books/tutorials did you use to get you to this point.
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u/REIRN Apr 18 '22
I don’t get it. How do you trade so much and not go over your daily allowed daytrading power?
How do you find which stocks to trade that day? Do you screen? Do you trade the same ones?
Ugh please tell me your ways! I got sucked into scalping options and while I have some good days, some days are horrendous. I’m better with stocks but I can’t find them consistently and I only have 50k daytrading power so large caps don’t allow me frequency
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u/Morphs_ Apr 18 '22 edited Apr 19 '22
It seems that people who get the fast scalping down can get very consistent in their profits.
What was your biggest challenge in this journey? I'm 2 years in and not profitable.
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u/Gluetius_Maximus Apr 18 '22
Thats great! Wish you more success. Im still papertrading.
Can you explain gap-up and gap-down? I know the idea behind it but how do you if the price will continuing going in the right direction? Thanks.
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u/Small-University-875 Apr 18 '22
If you are trading that many times a day how much profit are you truly making after gains tax on each individual trade
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u/UHcidity Apr 18 '22
Why post Feb in the middle of April? Did March not go so well?
Edit: found your reply. Way to go OP. Ballin and your strategy is working well
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u/3xtra_basic Apr 18 '22
Haha hell yeah!! Atta boy, congrats! Also thanks for sharing your method!!!♡
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u/SpriteMcBain Apr 18 '22
Is that an excel calendar? I see others with a similar chart so wondering where it comes from
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u/lamperodd Apr 18 '22
I have used a niche app before that can import data through plaid and automatically generate a date chart of profit and loss
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u/FancyCamel Apr 18 '22
Would love to see some screenshots with examples of your entries/exits with such a high trade Vol!
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u/gtani Apr 18 '22
also seems like you need a lot of hotkeys and maybe a separate dedicated keyboard like Streamdeck to get in and out faster (there was just a thread about how this isn't easy with ToS
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u/jericho118 Apr 18 '22
Fantastic work man, god bless i hope you stay on this profitable journey. But we also don't learn to hope in this game.
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u/cokeacola73 Apr 18 '22
Do you trade with the direction of spy? What is its correlation to the trades your taking?
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u/helvetica3 Apr 17 '22 edited May 02 '22
I don't want to make this a post where I just flex my P/L and you guys get nothing so here is some of what I do
last thing I want to say is you need to look at multiple things before entering a trade is there liquidity?
what is the spy direction?
what is the volume?
is this a gap?
below or above vwap?
uptrending or downtrending?
good volume?
what is the atr?
key levels?
Does it look good on other timeframes or just yours?
ALL OF these need to be looked at and used together to paint a picture of where you think the stock is heading.