70, I'm still doing some research on how I want to do it. I've always been that "leave it alone" guy who stays with it long term. It's going to be all new. Suggestions?
They Say "Money Talks" So Let's Talk
- Thread starter 70boiler
- Start date
The results were quite interesting.
Here are 3 of the charts with the pink arrow at the alert point. All 18 could have provided successful trades of varying quality, so I look forward to testing more.
Here are 3 of the charts with the pink arrow at the alert point. All 18 could have provided successful trades of varying quality, so I look forward to testing more.
I'm not sure that I am the one to ask because that is creating issues for me.
It's clear that the game is entirely different. The fundamentals are almost irrelevant. It requires pretty high volume trading (liquidity), volatiliity, a specific trading plan that builds in a risk of loss to potential gain ratio that you can tolerate coupled with the discipline to follow the plan and walk away with a small loss so you never hold a big bag.
It is clearly far more difficult than it would seem.
In my mind it also requires a scanner/screener that allows you to not spend crazy amounts of time trying to find stocks that you are going to trade for relatively limited gain quickly.
Strange thought processes that are still foreign.
Oh, yes. Lest I forget. Be sure that you decide if you are going to use a margin account with a continual balance above $25k or a cash account in which you assiduously track your settled funds. It's easy to run afoul of a lot of rules but particularly (PDT) Pattern Day Trading, Good Faith and Free Riding.
Market futures up this morning. Will be adding a few shares to my SYY position on next down day. Prob start a position in KMI on next down day. Lookin at PPL and FHB. FHB made a strong move Friday. Prob wait until regional banks drop a little. Most made strong moves last week. May buy PPL after this coming dividend pay date. And prob add to CINF after July dividend pay date.
Saw first passenger train last week since CV shutdown.
Saw first passenger train last week since CV shutdown.
It's a Christmas miracle! i got back in pretty heavy the last few days and the timing was finally good! Mostly Fidelity funds and some ETFs, only 2 individual stocks I bought were Jet Blue and UAL (UAL is on fire).
Interested to hear some of 70's ideas from his new modeling platform and putting some of my gambling money in my Etrade account back to work.
Interested to hear some of 70's ideas from his new modeling platform and putting some of my gambling money in my Etrade account back to work.
Lol... I am still trying to get it all figured out some. I'm okay with the way the scanner/screener seems to work but the problem is my implementing the info. The near necessity to hit the buy button without much assessment just is contrary to my history of thinking about alternatives. The method that I have built into the screener/scanners is the antithesis of slow, thoughtful processing. I think what will be necessary for me is to use the preliminary scanner to narrow my watch list to a very few that I can consider in advance a bit and then only utilize alerts to trade any of those.
It's extraordinarily interesting to try to get a handle on it.
Looks pretty legit. Lots of green! You have some ideas?Btw... here are what my screens look like when the Market is active...
My test scanner/screener is set to try to detect potential early action for day trade purposes. It takes into account mostly end of the previous day, after hour, premarket and early morning trade. Thus I try to review it about 7am to see what it holds. Because, in my testing I only want to deal with very high volatility I have currently limited it to $3 values.
This morning I found the following (which likely will expand by opening bell) to consider -
SQBG, IDEX,NAKS, GMO, JILL, INUV, GSUM, VTGN, AMRT, DSE, HNRG
Now JILL has hit my list. Thus it changes pretty rapidly.
A while following opening my idea is to employ some consistent trade strategy but I haven't fully decided what. Currently I am working to see if I can get a good VWAP breakout scanner/screener to catch that siyuation early. We shall see...
Shortly after JILL hit my screener I received an alert to activity...it came up at the blue arrow point in this chart
Premarket just doesn't seem consistent enough on what I have been seeing so I don't trade until after the bell for these type actions.
But it gives you an idea how the need for quick choices is obvious. That has not proven to be my strong suite so far, so I am trying to increase my comfort level and recognizing the action for what it actually is about to do in the next few minutes. I watch Level 2 bids to try to get some feel.
I really wish that I had thought more about these areas when I was younger, although it is really only the recent past that made such activity realistic, with high speed internet, access to software and no cost trades.
I am trying to maintain my granddaughter's interest and see that she understands what is available. Unfortunately with her living in St. Louis it is more difficult since I can't sit down in front of the screens with her or help her set up the screeners absent setting up an entire station for her with another separate paid access to the platforms. So we make do some to see if she will have the time to deal with it while still in school.
But it gives you an idea how the need for quick choices is obvious. That has not proven to be my strong suite so far, so I am trying to increase my comfort level and recognizing the action for what it actually is about to do in the next few minutes. I watch Level 2 bids to try to get some feel.
I really wish that I had thought more about these areas when I was younger, although it is really only the recent past that made such activity realistic, with high speed internet, access to software and no cost trades.
I am trying to maintain my granddaughter's interest and see that she understands what is available. Unfortunately with her living in St. Louis it is more difficult since I can't sit down in front of the screens with her or help her set up the screeners absent setting up an entire station for her with another separate paid access to the platforms. So we make do some to see if she will have the time to deal with it while still in school.
Does your screening software look simply at volume/activity and basically making recommendations based on momentum or does it also look at fundamentals, analyst ratings, etc?
I don't have it set to utilize fundamentals because I am not using those particular screeners as long term investment guides. There are several dozen alerts and filters that are available including a fair number of fundamental based.
The screening platform is Trade-Ideas Pro. The up priced version includes AI abilities. I used it on a 2 week free trial a while ago and really liked it. I haven't yet decided if not going with the upgraded version was a good choice.
There are a lot of preprogrammed screeners and scanners included and each is customizable. Everything is in a separate window but can be locked to the top bar so they maintain positional relationship.
The tech that is out there is amazing. The real problem is learning to properly assess what is discovered through the tech. Clearly the trading world will evolve very rapidly as these technologies become more and more accessible.
Here's a link to the TI Help page that lists and explains the Alerts and Filters available to use in screening stocks
LINK
In the last month hydrogen related PLUG has gone from 4.06 to its current 9.08 and BLDP from 10.14 to 16.20
For me, staying long and weathering the downturn has worked out reasonably well, although selling and buying back in probably would have improved it...
For approx 6 months
AMD +9.41%
BLDP +75.52%
FBCRX +19.25%
FCEL +16.99%
MLND +9.18%
MRNA +114.27%
PLUG +89.33%
For me, staying long and weathering the downturn has worked out reasonably well, although selling and buying back in probably would have improved it...
For approx 6 months
AMD +9.41%
BLDP +75.52%
FBCRX +19.25%
FCEL +16.99%
MLND +9.18%
MRNA +114.27%
PLUG +89.33%
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I got out of BLDP too early and never pulled the trigger on MRNA. I played this market really poorly since mid-March and it's cost me a bunch of $.
Even the stock I bought that was suppose to be a hedge against the volatility and big drops has lost at least 10%.
I suspect that I may regret not selling MRNA when it was in the 80s but figured that I would hang and see if their messenger RNA delivery system would work out.
No, with courts reopening I have been pretty busy and haven't really been watching close enough to develop much of an approach.
PLUG is continuing to run. (Edit: up 10% in Premarket Trading at 20 minutes before bell)
Very good jobs report this morning. Market may run on preholiday good feeling today
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Alternative energy related BLDP, FCEL and PLUG all up about 10% in PreMarket coming off the long weekend this morning
I'm kicking myself for getting out of BLDP. We called that one perfectly, I just to out way too early.
That one has been good.
Got out of Moderna last night up 115%. Too much questionable press lately coupled with the CEO unloading another 10,000 in aftermarket yesterday made me a bit uncharacteristically skittish
As is the norm, it remains to be seen. BTW, at midday Moderna is up $1 from my sales point, so idk.... Certainly will never be unhappy with doubling though.
Bought it in March for 14.68 per share. I think it hits 600 by August
