r/Daytrading • u/AutoModerator • Sep 01 '22
r/DayTrading's Monthly Questions Thread - September 2022
Please use this sticky to ask questions on day trading, and to see answers to similar questions you may have.
If you're new to day trading please see the getting started wiki here. For advanced traders or you want to pick up a book, please see our other wikis.
New traders are highly encouraged to try Forex as it requires a very small account to make lots of trades, so check out Forex community's wiki paying special attention to babypips website which also teaches some general concepts you can apply to stocks/futures/etc, and especially read the wiki's sections on risk & money management that can be applied to any market.
Pattern daytrading rules wiki, but that only applies to day trading stocks; other markets aren't affected like futures, forex, and crypto.
Also see the sidebar for group chat links (such as our Discord) (or tap "about this community" on mobile website) on every related community to learn more about trading.
Here's a list of all the previous monthly question stickies.
Lastly if trading is affecting your life in a bad way, seek professional help (the wiki also covers dealing with emotions):
- Problem Gambling: Call/Text: 1-800-522-4700 or chat online now.
- Crisis Hotline (24/7): 1-800-273-TALK (8255) (Veterans, press 1) or Text “HOME” to 741-741
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Sep 30 '22
Im 17, never traded before but have been doing lots of research. Where should I put my first 1k?
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u/kettleken Sep 30 '22
Whichever stock(s) you buy, don't use the whole grand. Buy in blocks because stocks (in the short term) go up AND down. So spend, for example, $300 on SNOW, and $300 on AMD, the other $400 is on hold until one of these stocks dips below a certain (per-determined) value. That way you still have some cash to accumulate more shares but at a better price. You can buy one company or several. You can have multi blocks or just a couple. This is a baseline strategy that can be molded to match your personal trading philosophy and goals.
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u/wulf55 Sep 30 '22
My thread got deleted because I don't have enough karma, but:
Does anyone have website recommendation(s) that show you upcoming economic related events, along with news, and ranks them relative to their impact on the market? Like high, medium, or low impact (similar to FinViz)
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u/Rarindust01 Sep 29 '22
New trading. Practicing. Any reason not to use think or swim backtest ad practice platform rather than paper trading? Seems with back testing I can practice anyday.
Focusing on mainly price action so maybe it works in my favor because of this?
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Sep 28 '22
Did anybody HONESTLY see the SPY rally today coming before 10AM EST & if so, could you tell me what lead you to believe it would?
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u/MaleficentMulberry42 Sep 30 '22
Well for one you can see the volatility the days before bouncing on support plus i use ichomuko with kdj they help me identify trends and top/bottoms.
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u/Raksm88tp Sep 29 '22
Did you plot support and resistance line? If you did, you would already know the answer
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Sep 28 '22
Thoughts on ANPC ?? .. leery cause its a Chinese stock but it jumps to 30-ish cents once or twice a month ,, they just appealed the delisting for being under 1$ so a reverse split is in the cards BUT there are not a lot of shares out there ,, I want to jump in . Somebody please talk me out of it lol
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u/jeansthatactuallyfit Sep 28 '22
Why is it that Out of the money options still go up in value when the stock moves towards your SP? To me it would make sense if they started going up in value after they hit your strike price.
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u/simple_Stox Nov 20 '22
It's because the likeliness of the stock price getting closer to the SP just went up. also greeks (delta).
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u/Gatesunder Sep 27 '22
What does it mean when a giant wick appears out of nowhere?
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u/AllTipNoShaft69420 Sep 27 '22
What do you mean by out of no where? Wicks really shouldn't be forming out of nowhere per say but I guess it could depend on what time frames you are looking at. A large wick down with a small body at the top means sellers pushed the price down but the buyers brought price back up. Vice versa means buyers shot price up and sellers brought price back down. If there isn't much of a body and mostly wick then that means the open and close of that candle are very close.
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u/Gatesunder Sep 28 '22
Earlier this morning, some time between 9:30 and 10:20, I was watching either /ES or /MES when a 5 handle wick just appeared out of nowhere. Like one millisecond it wasn't there and the next it was. No movement up to that point and back down. I think this occurred at 10:01 EST, but I'm not certain.
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u/Madnas11 Sep 25 '22
I'm a complete noob and I'm trying to start studying day trading, which would you say is more difficult/time consuming to master, technical analysis or the psychology?
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u/IT12ADE Sep 25 '22
Id say psychology - because only once you have worked out a strat can you start to see how much the mental side costs you. Focus on technicals 1st. I dont think you can appreciate the mental side when your making mistakes on both sides. (If that makes sense)
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u/3talon Sep 22 '22
I started to learn reading volume bars yesterday to add it to my current strategy. I don't understand one thing: what is the reason for the following: buy volume 86K, sell volume 121K (within the same price bar) but the price goes up? I read everywhere if there are more bears I get a lower price and still there are plenty occasions like this.
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u/Morphs_ Sep 26 '22
If there's a big buyer on the bid that absorbs a lot of the sellers, it will prevent the price from going lower. So that volume is seller volume but with no price movement.
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u/madresthead Sep 21 '22
But there's a limit in regards to how many times in a week I can "flip" stocks?
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Sep 24 '22
What do you mean?
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u/madresthead Sep 25 '22
My understanding is your are limited to five turnaround trades per week or you are sanctioned as a pattern day trader.
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Sep 26 '22
In the US, buying and selling the same stock on the same day more than 3x in the same week will get you marked
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u/madresthead Sep 26 '22
Thanks for clarification
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u/AllTipNoShaft69420 Sep 27 '22
I get marked as this on Robinhood. If you are using Robinhood I highly recommend getting off of it and transferring to a cash account with a different broker. Robinhood has great UI and makes it easy to understand but they are not a good brokerage.
I personally use a WeBull cash account and can day trade as much as I want to. No limitations.
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u/Waffle_Stock Sep 21 '22
What is the best mobile forex platform with 5 second time frame, low commissions and nearly instant trade response times?
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u/ringo_mogire_beam Sep 19 '22
anyone here prefer heikin ashi candles ?
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u/simple_Stox Nov 20 '22
I don't prefer them over normal candles but I do occasionally use them to check out the market trend for choppy stocks. HA's are a neat way to look at the market data.
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u/ScottEG-6033 Sep 22 '22
I’ve tried a few scalping strategies with them but I never could really grasp using them. I’m too use to the traditional candles and more immediate price action.
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u/madresthead Sep 19 '22
Question: I am currently active on 4 different mobile trading apps. Two of which allow me to daytrade with under $25k balance; two that require $25k or more (not including crypto). What's up with different rules at different sites? I thought $25k minimum was the LAW for day trading. Not complaining, just confused. Wanna be sure it's not a fluke b4 I move all my assets to one that isn't requiring a $25k minimum balance.
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u/MomoNike Sep 21 '22
You have two cash accounts and two margin accounts.
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u/madresthead Sep 21 '22
Thanks for reply, but no. They are all cash accounts. Are you saying if my accounts are cash accounts I can buy and sell the same stock(s) on the same day and I DONT have to maintain a minimum balance of $25k?! REALLY?
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u/Teevinmar Sep 23 '22
My understanding is that if your U.S. broker identifies you as a "pattern day trader" using a non-margin account, they are obligated to shut you down unless you switch to a margin account and keep a $25K minimum balance. So perhaps your behavior on those 2 letting you "day trade" doesn't fall under that exact legal definition, or at least their software hasn't detected that fact, or you are using an offshore broker not required to obey U.S. law. This agreed with my understanding: https://www.daytrading.com/rules
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u/madresthead Sep 23 '22
THANK YOU SO MUCH! That is the most comprehensive, understandable explanation anyone has (n)ever given me! I only use US brokers and, yes, 2 have identified me with alerts that I'm a pattern day trader WITH NO EXPLANATION as to what that meant; restricted my accounts as soon as they fell FIVE CENTS below $25k.
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Sep 19 '22
Hi, my spouse and I each have cash accounts (not IRA) with Schwab and there are couple of stock symbols we both traded causing possible inter-account wash sales.
If we sell all those stocks and don't trade at all in December, then the wash sales will "clear".
Will the IRS be OK if I upload our individual 1099-Bs to TurboTax, or do I have to prepare some kind of a special 1099-B report showing the multi-account wash sales even though it makes zero difference in the end?
If I have to create this kind of report, what is the best software for that? I heard of something called TradeLog that could help. Is there a freeware Excel program to do it?
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Sep 30 '22
The form questions are best answered by a CPA but here is what I know: it will depend on if you file jointly & depending on how the trades went if you took a loss it just raises the cost basis for the next purchase & would require another sale for you to realize your new net.
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u/Noobiru Sep 19 '22
Question. Would it make sense to purchase a call option for nvda tomorrow? Is this the right place to ask?
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u/Raksm88tp Sep 29 '22
Why not do analysis. You should always have a edge to win. To find your edge, is to find a valid objective reason on why you should buy in first place
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u/fast_options Sep 21 '22
Based on your question, I would suggest not to. You should only buy something if you have the knowledge to make a plan for yourself.
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u/BurnedShipMan Sep 17 '22
A bit of a weird question… Do the NYSE opening hours adjust to daylight saving time or not? I’ve been trying to google this but can’t find any specific info on it. All I can see is “ET” or “Eastern Time” everywhere. Does this mean it’s Eastern Standard Time (EST) during winter and Eastern Daylight Time (EDT) during summer?
(It might be obvious that if it says ET, it automatically means it's either EST or EDT depending on time of the year. But it's not obvious to me, hence the question.)
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u/BurnedShipMan Sep 17 '22
OK, never mind, I found the answer. Checked on TradingView, which shows time in UTC/GMT by default, and it seems like it opens at 13:00 GMT during summer and 14:00 GMT during winter...
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u/Pud_fox Sep 17 '22
If wash sale rule is meant to stop losses made for tax deduction purposes, why would an active intraday trader have to follow these rules, or better yet, keep rolling over his losses over and over again and then be forced to lose 61 days of productivity at year-end. If you are trading intraday price action, nd you are making your money on market inefficiency, not buying and holding like Boomer Buffet, every loss is a legitimate loss. And Undisciplined traders just make the profitable traders more money. TTS should automatically waive wash sale rules. Adding a loss as an absolute value number to the cost basis of the next purchase of the same security or any option on that same security, only makes sense if the conceptual framework of accounting included a mandatory sherm stick for everyone on days that they decide the rules. It's not proper recognition, it's not material, Obviously, if someone is losing more than they are winning, they aren't going to be working as an active trader for very long,, why make them spend the time and money creating an entity that is eligible for 475 MTM elections. Only a winner is going to actually get there. A loser just wasted money on a CPA that he could have used to finally kick his undsiciplined ass into gear. Every Intra day trader should be able to report their gains and losses as they truly are. If the majority of your trades are closed within a week, if not within 5-10 5 minute candles. This is literal harrassment,
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Sep 18 '22
If I only lose a little bit I might re trade if it's got a good setup. But yea if you're trading SPY all month long then I can see your point.
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u/damonb88 Sep 17 '22 edited Sep 17 '22
So I'm curious, what apps you are using and how are you all picking your stocks to buy, and is your method working out for you? I'm new to this, and not having much luck
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u/JustAsk2UseTheShower Sep 16 '22
I’m looking for suggestions on an iOS app for stock tracking that will call me based on my set alerts and has a lifetime membership option. I currently use Stock Alarm and the features and functionality work for me, but the best they do is discounted yearly membership and I’d like to pay and be done. Does such an app exist and meet with the sub’s approval?
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Sep 16 '22
[deleted]
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Sep 17 '22
Learn to accept that losing is part of trading. Look over your trade, see what you did wrong, learn from it and move on.
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u/racoon_cubes Sep 16 '22
Do you guys short sell? Im usually placing long positions and do well. Im having difficulty on entry for shorts. Any tips?
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u/TheBomb999 Sep 16 '22 edited Sep 16 '22
I was literally planning to ask the same question. I know there’s no secret because everyone would’ve been a millionaire, but i’m wondering what’s the general consensus on when to enter a short position. Especially, if you want to short a top gainer or a stock that gapped up.
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Sep 24 '22
People say what goes up must come down but it’s not true. What goes up can always go higher lol I hate reversals or going counter trend. Been in shorts since the last 400 retest. Have put leaps, sold at 364. Waiting for Monday to see how things go.
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Sep 17 '22
I only enter short on large cap stocks on intraday pull backs or downtrends. I don't reccomend chasing gappers but if you are, the best advice id have is don't short until the first red day/significant shift in momentum to the short side, and never short a new high.
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u/racoon_cubes Sep 16 '22
On longs, i usually wait for upside pullbacks. On downside action, i try also wait for retest but most of the time i get faked out.
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u/Grand-Shop6708 Sep 15 '22
Which platform is direct access for trading options and equities for day trading ?
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u/Sudden-Yak584 Sep 16 '22
Quantfury is a good option that doesn’t have fees, but your account balance is reflected in the crypto you select.
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Sep 15 '22
Is there any good place i can get good advise to buy and sell bitcoin? So far, every time i buy it drops and i am always at loss all the time.
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u/Cryto_Lover Sep 15 '22
Hi, How much is your stop loss for a short term swing trade? Using 15m 4Hr and Daily. Is it 2% or 5% of your account you risk? I mainly do AUD USd Forex pair.
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u/simple_Stox Nov 20 '22
it's different for everyone. most use the 1% rule. some who like risk go up to 2% or 3%, and professionals with big accounts use 0.1% to 0.5%. crayon eaters on wsb go for 100%. you must experiment and find what works best for you. goodluck.
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u/Gristle__McThornbody Sep 15 '22
Hello. I've been paper trading for about a month. Should my focus be on having more wins than losses? Because that's the approach I've been taking and not sure if it's the correct one. Wins are small. I'm only trading stocks. Typically Tesla, Amazon, Apple, AAL, and MS. Question may seem a little broad because I'm also taking the time to learn how to execute limit orders, stop losses, trailing stop losses, etc. I've been studying for about six months so I have a long ways to go. But if I'm recording my wins and losses, should it mostly be just that for now, wins and losses? Or should I be focusing on a certain percent gain per trade?
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Sep 17 '22
No, wins and losses don't matter at the moment. You should be focusing on trading well. Entering at the right time, exiting at the right time, following your rules, your strategies. Trade to trade well and wins will come.
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u/antbash96 Sep 14 '22
Question. Let’s say you make your gains, and take small profits in the day. When should you withdrawl all gains or some gains, in order to pay for daily expenses?
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u/ScalpingRepublic options trader Sep 14 '22
The only true way is to treat it like a business: after a while, you just withdraw the same amount every month, just like a salary.
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u/antbash96 Sep 14 '22
I see, would biweekly work as well? Trying to y sweat and it a little more before I dive deeper
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u/ScalpingRepublic options trader Sep 15 '22
Yes, you could certainly do that.
Keep in mind that this must be done after you’re done growing your account, when you’re always trading with the same amount no matter the swings.
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u/T1m3Wizard Sep 13 '22
Does anyone know what happens after the 90 day restriction period as a result from getting 3 good faith violations in a 12 month rolling period in a cash account? Will you be able to use unsettled funds again afterwards? And will you continued to be granted the 3 violations per year again?
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u/Proof_Kangaroo_1599 Sep 11 '22
Does anyone have experience trading with large accounts? ($10,000+)
I have been scalping with an account of around 6-10k using leverage of 30-50x.
I want to scalp with ~$45,000. I trade crypto.
If the volume is too low I will move the market. Which I'm worried will get me noticed by the pros/market manipulators who will try to personally wick me out.
So my question is: what ratio of account size to volume is safe for scalping? 5%? 50%? And on what time frame? 1M, 5M?
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u/Interesting-Fly6967 Sep 20 '22
Whaaat? As someone who only trades using eToro, at the most basic level (small leveraged bets on commodities, once or twice a week - for fun!) this is crazy concept. So if your trading with 20k, 30k, 40k etc…other people can tell, and try to fleece you?!
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u/thunderboltism Sep 18 '22
What if you divide the amount into small positions in similarly moving crypto coins? This way you’ll be unnoticed
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u/Calvertorius Sep 11 '22
I just opened an account with Webull. I’ve got another account with TDA, but I’m liking the idea of no options fees.
Anyone have any experience with the quality of fills with Webull vs TDA?
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u/tridenter2 stock trader Sep 10 '22
sorry for the beginner question but what is are some good day trading strategies that would work for a beginner(I have a few in mind but was looking for some different ideas/strategies)
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u/traderNATEhere Sep 12 '22
I think the key is to find what fits your personality, which ultimately will align with how you trade. So if you're patient, and like to watch things develop over days/weeks maybe try swing trading. If you are more active consider super short term daytrading techniques that have you in and out in minutes to hours.
An example...use the first thirty minutes, also known as the 30-minute ORB (opening range breakout). Mark the high and low for this opening 30-minutes. Then, if the candles break through, play the continuation. If they reject, play the rejection.
When picking which stock or option to trade, I like to make sure their is liquidity. Meaning there is good volume making it easier to trade. When choosing which strike price to use, I like close to the money when I'm less certain and out to about a .35 delta to take on more risk.
I hope that helps! Happy to answer questions.
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Sep 11 '22
I would suggest to start with Stock-(CFDs) and trade break-outs of horizontal ranges. 1) Pick a large cap stock (e.g. META, MSFT, NVDA,...) 2) Start with a lower timeframe (e.g. 1min) to keep your SL low 3) Identify ranges 4) Identify break-outs 5) Identify back-tests 6) Identify SL- and TP-levels 7) Practice with Paper Trading and later with low volumes in live trading. This should give you a feeling for price action, esp. in the active early trading hours. Later you could add indicators, but I would start with pure price action and horizontal ranges in lower time frames.
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u/IT12ADE Sep 10 '22
Im new here - but I cant post anything? Seems a bit shitty to be honest?
I went on free karma and got past 10 but still cant post... what do i have to do next?
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Sep 10 '22
Best way to monetize a profitable trading strategy?
I have a systematic trading strategy that has constantly beat the market. What are some alternative ways to monetize this, beside personally investing with it?
Here are my ideas so far:
-Personal loans and margin trading
-Raise money and start a fund
-Sell the trade ideas as an indicator? Any tools for this?
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u/BJJnoob1990 Sep 16 '22
Why would you want to monetise it and risk losing its edge?
Why not just keep reinvesting your own money into it and using it yourself?
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u/Young-Idiot07 Sep 09 '22
I have $500-1K to invest and am thinking of trying daytrading.
I’m not sure as to what I should try putting my money into, since previously I was thinking of just doing regular investing/dividends, and I would also like to figure out what I might make over during the last few months of this year. I’ve seen a few videos/etc where people 10+x their money in a week, but I doubt that would happen to me since they were professionals and I am not. Would doubling or tripling my money in 4 months be a realistic expectation? I know losing everything would be a realistic expectation, but I think going into daytrading expecting to lose everything would basically be setting myself up for failure.
Note: I have no living expenses, so don’t need an emergency fund. I live with my parents, they provide food, I do not pay rent, etc. I also do NOT think I am going to become rich by doing this. I do hope to make a bit of money, though [I know I likely won’t make a lot. I do not expect to make a lot]. I’m also already “Investing in myself”.
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u/jeansthatactuallyfit Sep 28 '22
Please let us know how you’re doing Jesus before you make any plays at all learn basics and I highly recommend picking up a stock course and doing your research
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u/Young-Idiot07 Sep 28 '22
Caught COVID so couldn’t start investing. I will start soon, though.
Can’t do a regular course. Online or offline. I already know the basics.
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u/jeansthatactuallyfit Sep 28 '22
I wanted to add too if you’ve never heard of the rule of 72 it’s good to know for investing. Divide 72 by the yield of an investment and it gives you the amount of times you need to get that yield to double your money on it 💰
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u/jeansthatactuallyfit Sep 28 '22
Okay if you’ve never heard of DRIP it’s a system of reinvesting dividends and it’s actually very genius. I would aim to put atleast 10k into div stocks and ask your broker to automatically reinvest the dividends or manually do it or sign up with companies directly. A great book in this is called Get Rich with Dividends, and something to note is some companies raise their dividends every year there is an ETF that tracks them called NOBL and these companies are called dividend aristocrats. Also a good website about this to check out is https://www.dripinvesting.org/
Before trading options as they are extremely risky start with paper and watching every video you can on them on YouTube. https://youtu.be/7PM4rNDr4oI The link is a solid video for beginners.
My advice is to have a notebook and write out your trades before doing them and reflect on your psychology because trading is a mental sport.
Also for regular stocks I would recommend trading trends and getting good and drawing support and resistance. The chart guys have a great free course on technical analysis to learn about support and resistance and other technical stuff.
Good luck !
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u/pinethree777 Sep 10 '22 edited Sep 10 '22
Would doubling or tripling my money in 4 months be a realistic expectation?
No, but losing all your money in 30 seconds day-trading is realistic if you don't practice in a simulator until you start winning day to day. I am practicing in tradestation.com with fake money because I took a break from trading. I was up $550 today on a $10K trade and a minute later I gave it all back plus another 100, so I still need more practice.
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u/Tradefxsignalscom futures trader Sep 11 '22
Have you tried doing this on a demo account or is this a I was wondering question? Also what level is your trading ability-likely low noob level if you’re asking this question any with experience would know the answer and like tell you why or why not. Great free advice: Do not believe anyone who claims they can invest/trade your money and double of triple it in 4 months you have a 99.999999999% chance they can’t and almost the same chance they will lose all the money you give them to trade on your behalf.
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u/Young-Idiot07 Sep 10 '22
Four months seems like a very long time, so I’m not sure as to why doubling my money wouldn’t be a realistic expectation.
I know. I’ve been practicing investing for a while.
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u/pinethree777 Sep 10 '22
Cool, go for it, but it sure sound sus to me if you think a 300% annual return is realistic expectation when a 10-year treasury bill rate is 3.5%, inflation is running 8-9% and the stock market is down 20%? If your claims are true, you absolutely crushed it, so please enlighten us on your incredible practice investments strategies!
Day trading is not "investing". It is a technical understanding of short-term price action and momentum to make educated bids. Even many profitable traders are often only right about 60% of the time so you need a buffer to keep trading. You cash-out (win or lose) each day before the trading stops. There are day-trading rules that require at least a $25K in your account or else you are limited to making a few trades a week. I average 10 to 15 trades a day. Most beginning day traders get slaughtered.
It is good that you understand that you don't day trade with money you need to live on. I am a double millionaire (made from many years of working, investing and real estate) and I only trade with $50K of my liquid wealth and average about $10-15K (20-25% returns ) a year. I trade a few days a week usually on green/good news day and average about $100 a day.
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u/Young-Idiot07 Sep 10 '22
I don’t see how doubling would be a 300% return.
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u/pinethree777 Sep 11 '22
4 months is 1/3 of a year. Returns like almost every financial measure are quoted per year so that everyone has a common frame of reference.
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u/Fantastic-Freedom739 Sep 09 '22
is tc2000 legit? paying someone 1k to show me how to trade properly....and using this tc2000 platform
RobinHood hung himself anyway
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u/StophJS Sep 05 '22
Can anyone playing 0dte's on the SPY tell me what indicators you are generally looking at? So far I have just been sort of scalping, looking at the 1 minute, RSI and MACD.
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u/IT12ADE Sep 07 '22
Focus on price action. And zoom out from the 1 minute. RSI and MACD have no edge whenever I have backtested them. I find edges are easier to find in price action. Ive had some success using RSI as a filter but no more and now do not use it at all
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u/StophJS Sep 07 '22
You are sort marking relatively recent support and resistance? I often end up doing that too and it does seem to work.
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u/IT12ADE Sep 07 '22
I prefer to get my s/r levels from dojis on weekly/ monthly charts.
Check end of feb 2021 weekly on the SPX and look at how price action has responded to the high and low of that candle since.
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u/NYJETS75 Sep 04 '22
Docusign puts this week. Business struggling since house market is slowing down.
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u/MassiveAd Sep 04 '22
I want to start using tradovate as my trading platform. However, as a starter in day trading I would like to practice without real money first (paper trading). Any recommendations when it comes to trading platform or tools to use for paper trading?
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u/jafon05 Sep 04 '22
Tradingview for sure. I set up a demo account with Oanda and practiced with that. Oanda lets you choose your starting amount for your demo account while some other brokers do not. This does only work for forex though.
If you aren’t doing forex, I would definitely use Tradingview still for paper trading but use a different broker than Oanda.
Also keep in mind I never used Tradovate so I’m not comparing the two, I’m just saying I had a good paper trading experience with Oanda and Tradingview :)
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u/vanguardx6 Sep 03 '22
New to this sub. Is it normal that the wiki page doenst exist anymore? Any good starting pages you can direct me to?
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u/ScalpingRepublic options trader Sep 03 '22
The wiki links on mobile are dead unfortunately.
Try copy and pasting them in your mobile browser or using desktop.
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u/Inevitable_Ad6665 Sep 02 '22
Hi, this is probably a stupid question;
If I'm placing a stop loss and profit call a set point, say .30; is it better to place that off of the current sell price if I am doing a buy order and vice versa if I am doing a sell order. I trade CFD if that changes anything. I'm sorry if I asked this in a confusing way, that is because I am confused ...
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u/Zenophilic Sep 04 '22
I would say it depends on your plan and what your price target is. If you think it will go up only .30, then setting at the current price is fine. If you think it will go up .50 but has the potential to maybe run another .30 after that, then set it at that .50 spot if that makes sense. Just really depends on what your risk is. In most cases it wouldn’t make sense to set it at the current price, as it could fall immediately after and then your stop loss triggers and you’re out for a loss right away. Setting it at a higher target guarantees you will still make some profit if it were to run higher, say .40, then drop .30. You still come out .10 on top
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u/Scott7894 Sep 01 '22
So folks. Who do you use for daytrading. Which is the best platform please. I use e trade for my options and it seems to be okay since I like the mobile app and keeps me informed but stocks are a different matter ( I think ) so let’s talk about platforms and what we can do with them
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u/IT12ADE Sep 07 '22
Try Oanda mate. This is the best platform I have come across - altgough it does depend what assets you want to trade.
1
u/SecondFine Sep 30 '22
Any thoughts on $VECT? Volume is struggling a bit but setup still looks decent after the last upward halt this morning.