1/29 Thread (General):
Enthusiast
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Science & Democracy... Thoughts?
Conversation Starter
Additional Posts in Option Traders & Investing
Enthusiast
9/22 Thread (General):
Enthusiast
Coach
Coach
Thoughts on KAR. low volume but it’s cheap
I’m getting killed with SPY puts
Mentor
Enthusiast
10/05 Thread (BC):
So another flat day huh!!!
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Coach
Tomorrow we go to war - GME. It’s not about $ anymore, its about what’s right. I am willing to lose the $ I invest.
I agree with VP and D1 that this going to war mindset might actually benefit the Wall Street whatsoever. But I’m starting to think GME is also largely driven by retail investors. Those baseless meme stock pump and dump (BB, NOK, NAKD, SKT) can’t be driven by institutional investors is what I’m thinking. What kind of fund make that reckless of a move? If they can pump all those stocks, GME is no bigger in market cap than all those combined. However I’m not sure...maybe high frequency trade is the real driver in those.
Enthusiast
Futures not looking great rn. I know that doesn't mean much but they are down more than usual.
Looking real bad. Do we have job reports to save us? Haha
Can we use this thread to have a sane discussion outside of the chat flood? For the last week, I’ve been making bear moves on everything. Anyone else?
I’m getting less long, too.
Raised cash. Bought puts and went long vol. Covered call sales this week have been good.
Days like today show how useful setting stop levels ahead of time and using some framework to determine prices. I’ve been using technicals and Fibonacci levels. Don’t have to think about when to sell in the moment or let my emotions take control. I have my plan. Just execute as the numbers change.
Now, the stress level is still high especially as my levels seem to be at critical levels. Several positions have been trading a few pennies above the stop for a while.
Anyway, just sharing that this approach has been helpful for my trading.
Lots of videos out there, but I’d also recommend some books to have a reference:
- The New Trading for a Living gives a solid overview of basic indicators and chart reading. There’s also some great material on risk management and position sizing.
- Fibonacci Trading by Carolyn Boroden is a fairly good fib book. I just use retracments, but there’s a number of other tools available
- Japanese Candlestick Charting is useful, but the technique is more labor intensive.
I know there’s some other great books, but I’d start with the two above to get a basic tool kit. You should also find a charting tool you like. Your broker may have this in their desktop app. I use TradingView for my TA since it’s a web app and the iPad app is good. Others have their favorites.
Like I said, applying TA to my trading has made be a better trader with fewer mistakes and more discipline. The emotion doesn’t go away, but having a plan makes it easier to manage the emotions.
Hodllll
Anyone buying calls/puts on the VIX?
I’d wait until the end of the day.
Mentor
So why did Robinhood restrict trading on AMD, and like 50 other stocks?
Because they seem to be running out of cash. It takes two days to settle trades and they float the stock during that time. I’m not an expert, but they don’t think they can handle that float and manage risk liquidity risk.
Brokers restrict flow periodically during volatile markets, but this seems like a real treasury failure by Vlad and co. Will be interesting to see if they get new capital injections over the weekend.