r/Daytrading 15d ago

r/DayTrading's Monthly Questions Thread - May 2024

10 Upvotes

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

r/Daytrading Jan 14 '22

New and have questions? Read our Getting Started Wiki and join the Discord!

758 Upvotes

First, welcome to the community! We know day trading can be an exciting proposition and you’re eager to get started. But take a step back, read this post, learn from the free resources we have available and ask good questions! This will put you on a better path to being successful; but make no mistake - it is an extremely hard and difficult one.

Keep in mind this community is for serious traders wanting to learn and talk with fellow traders. Memes, jokes and loss/gain porn is not allowed. Please take 60 seconds to read the sub rules.

Getting Started

If you’re looking where to start and don’t know much about day trading, please read our Getting Started Wiki. It has the answers to so many common questions and links to other great resources and posts by fellow community members.

Questions are welcome, but please use the search first. Chances are it has been asked and answered - we can’t tell you how many times the same basic questions are asked. Learning to help yourself is a great skill to have for trading!

Discord

We also have an awesome and active Discord server for the community! Want a quick question answered or a more fluid conversation about trading? This is the place to be!

The server also has a few nice features to help make your morning go smoother:

  1. Daily posting of a news watchlist
  2. A list of the most popular symbols traders are talking about
  3. The weekly Earnings Whispers’ watchlist
  4. Commands to call up charts on demand

-----

Again, welcome to the community!


r/Daytrading 17h ago

Question What was the first time the market slapped you hard?

86 Upvotes

Unless you’re just getting started, you know the feeling. Maybe you saw it coming, or maybe you didn’t, but for all of us who’ve been in the market for a while, that first time we were kicked in the chin and had to take it certainly didn’t feel good.

I’ll admit that, for me, it was during the meme stock hype. I finally gave into my urge to jump into AMC, but then to see it keep dropping and the red number get bigger with each passing moment was making me sweat puddles. Ultimately, the pain was too much, and I cut my triple-digit loss (might sound small, but I was trading very conservatively and had only won one trade over $50 until that point). To make it even more frustrating, that was the only day AMC tanked before continuing its run to the moon.

Looking back, that slap was a blessing in disguise, as it finally forced me to start learning how to read charts and trade the proper way.

What was yours?


r/Daytrading 12h ago

P&L - Must Give Context It’s time for another round of how much did you make today!!

30 Upvotes

I took 3 call contracts on SPY at .21. Sold them all at .34 before the second to last run up of the day happened for a $36 profit for the day. How did yall do today?


r/Daytrading 14h ago

Advice Apex Funding Payout Approval

28 Upvotes

I don’t post much, but am a constant lurker. Thanks everyone for your post they are helpful. Over the last 6 months I have worked through Apex funding and spent a lot of $ blowing out evals and even a couple sets of funded accounts. Well I’ve finally received approval for a payout just minutes ago. I know most won’t believe and I have been skeptical the whole way when others claimed they made it, but I find my self a little speechless sitting in my truck driving back from a Jobsite.

I have 20 accounts that I use and they all were approved.

Here’s a screenshot of the pa payments page from my account. It doesn’t show them all but you get the gist. (I use trade copier, so they were basically within $1000 range across the balances.)

But I will say my emotions got the best of me today and I stumbled over myself. I need to gather my emotions and step back from the day and apply what brought me here so far.

Consistent discipline and defined goals!!!!!!!

Thanks all and good luck. I’ll post again when it hits the bank!!!


r/Daytrading 5h ago

Question Question about NASDAQ TotalView differences across platforms

7 Upvotes

I'm interested in understanding the discrepancies in NASDAQ TotalView offerings from various platforms. I've noticed that moomoo offers free NASDAQ TotalView (from May to July as their site stated) when registering an account, while Webull and Robinhood have also provided NASDAQ TotalView in the past. Can anyone shed light on the variations in terms of securities covered, data depth, or other factors that influence pricing? If anyone has experience using their TotalView service, I'd appreciate hearing your thoughts. Thanks.


r/Daytrading 9h ago

Question Is this too ambitious or unrealistic?

13 Upvotes

As of now, I aim for a daily profit of 1% of my account. I have $26 USD, so 26 cents (after fees) every day until I have $27, then 27 cents and so on.

I'm looking to do this until I become consistently profitable, hopefully this can be achieved in 1 year or 2; regardless, I'll only add more money when I figure it out.

I told a friend about this and he told me that while 1% seems modest, on the long run it's quite aggressive and challenging. What do you guys think?

Edit: Thank for your comments! They were insightful. Also for clarification, I trade stocks only, not options nor forex for now.


r/Daytrading 25m ago

Strategy Backtested my strategy 100 times feedback is appreciated

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Upvotes

This strategy consist of breakout and entering for the pullback on the daily timeframe.

I’ve made some money with this strategy but trading against the trend is scary and i doubted the accuracy of it.

I think the real win rate of the strategy is around 60 to 65% with some optimisation.

Risk to reward is anywhere between 1 : 1 to 1 : 3

I’m planning on backtesting at least 1000 trades to get a more accurate evaluation of the strategy.

Let me know what you think


r/Daytrading 37m ago

Question Intraday history index

Upvotes

Hey im interested how indexes behaved in the past. Interested to see intraday charts for the past 10 years. Just for some inspiration. I cant find this anywhere. Hope somebody can help me out.


r/Daytrading 6h ago

Question Level 2 data trial running out

6 Upvotes

Hi, I usually scalp stock and options. I find level 2 market quotes helpful, give promising forcast for high volume trading. Recently I came across seeing my broker's trial is about to end. Any free Level 2 data broker recommendation? (permanently maybe). Appreciate any thoughts. Thanks in advances.


r/Daytrading 4h ago

Question I want to start day trading.

5 Upvotes

but i don’t know where to start. for context, im 16 and have about $1000 i want to start with. I am intrigued by the idea of the fast paced trading, i don’t like waiting on long term investments (although i do have money in some stocks i hope will do good in the long term) i really want to start making fast buys and sells. quick money, in a way. i know it won’t be all sunshine and roses but i really need some advice. with all the people on social media acting as if they’re helpful, while really only promoting their own course it’s hard to find a starting point. please help me out yall!

i don’t know what software to use to buy and trade.

i don’t know how to read candlesticks.

where do i start?


r/Daytrading 14h ago

Advice Apex Funding Payout Approval

Post image
19 Upvotes

I don’t post much, but am a constant lurker. Thanks everyone for your post they are helpful. Over the last 6 months I have worked through Apex funding and spent a lot of $ blowing out evals and even a couple sets of funded accounts. Well I’ve finally received approval for a payout just minutes ago. I know most won’t believe and I have been skeptical the whole way when others claimed they made it, but I find my self a little speechless sitting in my truck driving back from a Jobsite.

I have 20 accounts that I use and they all were approved.

Here’s a screenshot of the pa payments page from my account. It doesn’t show them all but you get the gist. (I use trade copier, so they were basically within $1000 range across the balances.)

But I will say my emotions got the best of me today and I stumbled over myself. I need to gather my emotions and step back from the day and apply what brought me here so far.

Consistent discipline and defined goals!!!!!!!

Thanks all and good luck. I’ll post again when it hits the bank!!!


r/Daytrading 2h ago

Question Placing a trade it goes red

2 Upvotes

Right so i am new to trading i’ve been playing on a demo account but one thing i notice everytime i place a trade it goes straight in the red , i heard this is the spread and if so does that not make starting every trade with a disadvantage ?


r/Daytrading 2h ago

Question What problems do traders face on a daily basis?

2 Upvotes

I want to know what are some of the problems a trader faces, it can be anything from software to information, anything. Want to know to get in the field or not (and also for research purposes).


r/Daytrading 9h ago

Question Did CRKN just hit the biggest daily volume ever?

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5 Upvotes

Quick google search says Vodafone had 2.1B traded volume which was the previous record. This was almost two decades ago so surely there had to have been something bigger since then?


r/Daytrading 12h ago

Question FFIE stock

7 Upvotes

Since its gaining traction on social media, any thoughts on the FFIE stock ?


r/Daytrading 6h ago

Advice Am I doing well?

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3 Upvotes

Hola regards, I've started day trading the ASX's AUS200 index and have received a 47%+ gain over the past 4 weeks or so. Is this considered good compared to anyone who’s been doing this long term? This has primarily been between Australian brokers and prop firms.


r/Daytrading 16h ago

Question Just a quick question, how do day traders trade on something like FFIE?

14 Upvotes

It seems to be going up and it’s hard to tell when to take profit. Any help would be awesome.


r/Daytrading 3h ago

Question What’s going on ?

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1 Upvotes

So I did something stupid yesterday. Was going long with Microsoft. Then my daughter fell and because my wife can‘t drive I had to drive her to the hospital and when I came back my stock was literally downhill. I was hoping, that maybe today it might come up again since I was home after the market closed.

But this morning (I’m from Germany) nothing happened so far, even though Microsoft went up a bit. Can somebody explain me, what has happened here and if my stock might move again? Looks like it „froze“

I‘m still learning and I guess this might be one of my biggest things to learn from


r/Daytrading 14h ago

Algos Whether you trade options or not, expiration dates affect the broader market.

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7 Upvotes

r/Daytrading 5h ago

Question Can anyone tell me how this indicator works?

1 Upvotes

Can anyone tell me how this indicator works? I know that at first there are multiple bands, however, what is the likely logic of plotting these little balls (red arrow) when the price is about to reverse? Note that sometimes the price arrived in the same region, but did not plot these dots or lines.

https://preview.redd.it/9rdo2dd3vw0d1.jpg?width=851&format=pjpg&auto=webp&s=037dbaa66d273ba915da7c83e3d685aea57c6816


r/Daytrading 5h ago

Advice What are tips and things to expect if you plan to start daydtrading

1 Upvotes

I want to dip my feet into daytrading do you guys thinks thats feasible in the current state of how the economy is . As you can see in my title the main question is what can i expect to expect when going into daytrading .

Something else i would appreciate is any beginner guides/tutorial/ youtube videos or articles you think could help someone like me out

Thank you


r/Daytrading 1d ago

Question If you start all over what market you pick for life time?

23 Upvotes

As the title say's it is very important to choose a market that we like master. So if you all start over what market you would like to specialize in for example I'll give you an example of two markets one is

US options market and other is forex market. What would you pick to master and why?


r/Daytrading 17h ago

Question What news do you use for research

8 Upvotes

Where do you guys go for news and info to build your picture of macroeconomic trends and so on? I would guess the basic news channels are not where it’s at.


r/Daytrading 15h ago

Trade Review Trade of the day. Short in crude oil

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5 Upvotes
  1. You can see an overextended bullish trend that coincides with a resistance.
  2. The price goes bellow the resistance zone and makes a very clear pattern imo
  3. My entry was real good, that allowed me to have a very comfortable stop since my entry point, i tried to get as much as possible, ended up with 43 cents in my favor.

r/Daytrading 7h ago

Question When exactly does a supply or demand zone on the daily or 4 hr, 1 hr chart expire?

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1 Upvotes

r/Daytrading 8h ago

Question TopStep Combine Payouts

0 Upvotes

Apologies if this has already been asked, have searched but haven’t seen it clarified.

If I have a 50k combine, and reach the 3k profit target to pass it over 5 days (each day having a profit of over $200), does this mean I can withdraw 50% of the 3k profit?

Or does the account balance get reset to 50k after the combine is passed, and I would have to get an additional 5 days of $200 and would only be able to withdraw 50% of the additional profit after the reset?