Stock market dealing

[Justin Passing]

Arbu - now you're arguing against yourself.
You're making up a justification which wasn't suggested, so that you can knock it down, Just because you can't see what's going on is not a reason to invent a bogeyman - me by inference.

It wasn't a simple range trade. It was a basic trade off the levels. This is hard.

 

[Arbu]

Arbu - now you're arguing against yourself.
You're making up a justification which wasn't suggested, so that you can knock it down, Just because you can't see what's going on is not a reason to invent a bogeyman - me by inference.
View attachment 341172
It wasn't a simple range trade. It was a basic trade off the levels. This is hard.

If someone doesn't understand why you have done something, and says "Was it this?", you don't go "You're accusing me of something I didn't say, making me a bogeyman." You say, no it wasn't, and explain why you did it. You said:

"If it's in a range going back repeatedly to a support level, that's range trading That's how it works, Read about it."

So I said, "But it wasn't actually in the range when you took it". So you needed to explain your reasoning further. You have now said that it wasn't a simple range trade (which is what I assumed from your first explanation), but a "basic trade off the levels". I am none the wiser.

 

[Justin Passing]

Yesterday was very easy. "Shawn's level" on Tesla, a clear one as explained, was good for $10, about 7%.
Lots of things were running or ranging up and down for much of the day.
Some spare margin on Mara while it was ranging as I was near the screen - you don't get losses on this stuff if you play conservatively.

There are several good youtubers: SMB, the Humbled Trader, TheMovingAverage, the Vietnamese guy whose name I can't remember, and others. Don't bother with the how I made billions in one trade versions.

There's a book we all need to simply know:
"Technical analysis of the financial markets / John J. Murphy. "
You can download a PDF free.
I keep meaning to get a paper version. There are a couple on ebay - one is "A study guide for^...^" which is cheaper, I'm not sure if that's the same book or not.
Neal's daily lessons on how to handle specifics are more appropriate in many ways. If he would trade live with a commentary we'd all learn a lot.
There's also an guy online with a name like Qulamaggie. He does some live stuff. He's dismissive of anyone who hasn't learned the basics. He has 10 hours of videos I think. "F off and learn the basics" is his attitude if you ask him a dumb question.
These things take time. I used Photoshop a lot, and learned all of it that I'm likely to use. First I sat through 20 hours of bootleg training videos then it took me another hundred or few hours to get proficient.
Until you have trends, levels, ranges, candles, breakouts, fakeouts, flags, patterns like pennants, accumulation and distribution, some brokers' antics, AVWAP and more as second nature you'll keep getting things wrong!

 

[Justin Passing]

I am none the wiser.

Then you'll have to apply more thinking. I'm not writing a text book here.
You do misquote me.
I'm reacting to what you write. If you tell me what I can't write I'll stop.

Prices in the wild don't conform precisely to only one of the many patterns and behaviours.
It's not someting you can complain to the market about.
If something is ranging between 100 and 200, then goes to 230 or 280 and heads south again towards 100 , you should apply all you know to interpret that, and ask yourself whether taking the move is likely to be safe.
Range trades aren't precise,
Trades off levels aren't always precise
Trends have wiggles
"Oh but you said" isn't going to get you far.
There's nothing hard to understand about the trades I took there. Cherif was doing much the same, if you dig the video out.
Iirc the price had been higher earlier, so, though it had been sort-of consolidating, there was a bit of a downtrend at a higher timescale as well.
Would I have taken it if there had just been an announcement that might boost the price? No, because that would have overwhelmed the reasoning.
You have to interpret, it's not a set of strict forumulae. But the more you learn about what the "rules" are the wiser you'll get.

 

[Arbu]

There's always another book you just HAVE to read, and another indicator you need to learn about. Another guru you should follow. You whole life could pass doing this, without ever getting it.
Anyway, nvidia looked a good short today because meta, a big buyer of their chips was down on questions about the validity of its approach. Also Neil said he would short the pops and gave a level of 805 to short from.

• 25/04/2024 16:11
  Snap Inc (All Sessions)
  -10
  1096.9
  1108.8
  -£119.00
• 25/04/2024 15:06
  Apple Inc (All Sessions)
  -1
  16984
  16953
  £31.00
• 25/04/2024 14:53
  NVIDIA Corp (All Sessions)
  -0.50
  80567
  81155.1
  -£294.05
• 25/04/2024 14:34
  NVIDIA Corp (All Sessions)
  -0.50
  78502
  79511
  -£504.50
• 25/04/2024 14:26
  Apple Inc (All Sessions)
  -1
  16806
  16862.7
  -£56.70
• 25/04/2024 13:59
  Apple Inc (All Sessions)
  -1
  16859
  16838
  £21.00
• Total
  -£922.25

 

[Justin Passing]

There's always another book you just HAVE to read, and another indicator you need to learn about. Another guru you should follow. You whole life could pass doing this, without ever getting it.

That's not appropriate. You've been trading for a while but you don't understand the basics.
The book is as basic as it gets. "Another" book? How many have you digested - well I know that, it's none.
TMA and HT are base level educators, not gurus.
You couldn't point to the relevant trend the other day, after what, a few years? I think I got trends on the first day.
As I've made clear, it seems you have other impediments.

Meta's sentiment was down because they're spending more. On Nvidia chips among other things. Meta needs Nvidia, not the other way round. Nvidia can sell everything it makes, and has increased the margins.
Meta, like many others, hasn't earned anything at all from expensive AI and doesn't see it happening soon. Their results were a beat, only Zucks' forecast was down. Their price isn't very far down, it's February level. It'll quite possibly rally.
I'd sold 2/3 of mine recently (same time SC unloaded his ) because of suggestions that the price was too frothy. even now it's still way up on where I got it last year. I added to Msft Amazon and mostly Alphabet with the proceeds, so that's ok. I sold Msft about 3 weeks ago at 425 and bought what I hope is a dip at 393 yesterday. Motley Fool is a decent guru for that sort of thing. Gurus are useful, it's at 416 now so I took some profit. I expect it'll be up again tomorrow. It's easier to profit from the big names with consderation than scalping.

Nvidia's price looks high. but not if they have the profits. At the new realities of P/E ratios, theirs isn't exceptional.
I wasn't trading today but I see Neal obviously got it wrong. SC was only right on one of his 5, which is why he didn't have time to go over it later.

So you , lets see,... Oh dear.
785 to 795 is clearly in an uptrend
Did you look at the chart to see where the 805 came from? It was 23rd. There was a bit of hump up to about that level in the premarket but after 14:30 it didn't happen.
No idea why you went short at 785, and given the chart, nor 805. You can see the "805" level on the left, The peak over the NVDA V is much higher, and hadn't shown a reversal on the 5 min.

Than snapchat, 16:11

Tell me, do you see higher highs and higher lows? Is that something to be shorting into?


The first two Apples - you shorted inside a downtrend and won, then you shorted inside an uptrend and lost. Lesson not learned unfortunately.

Suggest you write large in front of you "Identify trend. Look for pullbcak, enter with the trend".
If it's breakout from a consolidation, you don't often get more than 2 safe pullbacks to use. Quit if you see it slowing, Use the 5 min as well, and previous days' levels

SC's note did work today, several times on Apple. "Short from 170."
I'll have a look at Anet, Rolls R, GE, RHeinmetall, today.
AstraZenica and Merck had good results so look at symapthy rises in the pharma sector. GSK, J&J, LLY Pfz, MRNA etc.
CHinese car company show is on so look at the EV ADRs. Xpev, Li Byd Nio etc.

 

[Justin Passing]

@Arbu Use a simulator, don't keep losing money.
It's time to stop.

You could test one strategy until it works most of the time, and take pleasure in that success, which can come.
Then you could think about going live, but that changes the discipline.

There's no healthy reason to go on losing anything like £900 in a day.
900 pence a day playing the game you're on now if it's entertainment - a hobby as the section head says - which you can afford, and you recognise that you will in all likelihood, only ever lose.

Or change completely, such as picking stocks to hold for a few days or more. There's plenty of sound advice for that.

 

[Arbu]

When I got in on nvidia was a pullback on the trend, maybe you have to go out to the 15 minute timeframe to see that. I was trading the minimum amount that IG lets me. I had done some more learning on SMB's videos in relation to support and resistance levels, so was encouraged to go in the second time based on that.

I have read at least half a dozen books, and been on two courses.

I think I am reaching the point where I have demonstrated what I said at the beginning, that this wouldn't work?

It would probably take up less of your time if you were to just instant message me your trades as you do them, instead of having to review all of my hopeless trades, and then I can work on understanding why you have taken them. But there might be other people you would rather do that for, if you were going to.

 

[Arbu]

Or change completely, such as picking stocks to hold for a few days or more. There's plenty of sound advice for that.

I bought some Sociedad Quimica y Minera about a month ago, on your suggestion. Down about 4% now unfortunately.

 

[Justin Passing]

RHM, GE, Anet are all up today. RR too I think

Sociedad Quimica y Minera about a month ago, on your suggestion.

That is not true.

I only suggested you look at it

Alpha Metallurgical Resources. About 1% a day - keep the stop tight

SMC - Sociedad Quimicas de Chile 30% in the last 15 days. A Lithium stock.

Bank of Georgia hass had a good run, and GSK
The figures for a FANG ETF aren't all that good

You buy it, your responsibility.
Sounds like you're blaming me.

I bought that in a dip a few days after that post, and sold it at + a few % though it went to +14%.
I wouldn't ever suggest to buy anything, only suggest you look at it.
No I wouldn't tell you my trades. I can afford to lose my pot, I don't think you can.


That NVIDIA trade - I don't know exacltly where you entered. Do you rely on a trend, dip or whatever it was on a stock like that to continue through the opening of the market? Risky. From the volume you can see it may change radically, especially Nvidia.
Wait for the trend to reveal itself. The volume, which you highlighted, suggests its a LONG. If you waited then went long and used appropriate size, you'd have been ok for a while. Spread at that time will be wide.
Work out spread x your punt to determine your opening defecit, double/treble it for delay in possible getout situation. That's your risk.
For now don't risk more than a few quid. If your platform won't allow that, then don't enter. T212 allows 0.1 shares of Nvidia or Tesla.
A few % of that is not a lot.
Or use the Sim -
For you, trading to make a profit is folly, for now.

I think I am reaching the point where I have demonstrated what I said at the beginning, that this wouldn't work?

No, you have so far demonstrated that YOU can't do it. 90% fail, so 10% succeed.

gotta go.

 

[Justin Passing]

If you want to copy trade, try eToro - they do it free there. Or AvaTrade on Forex, for a %age.

 

[Justin Passing]

Another easy day - I stuck to the same stock as usual, Mara.
I did ok, as @Arbu should have done. But it wasn't nice to watch his determined self-destruct approach.

It's results season.
There are signs of gas escapes from the AI balloon. Not all results were great, and the expectations are ridiculous.
My leave-it-there cash is in various places, like banks, and they're sooooo slow to move the funds.. Much of it is in Money Market still, which gets about 5%. There are a few bonds+funds which get a bit more, like 8, so will try a some of those.
The stuff in the market generally, can go up a couple of percent in a day. or down as much.
Bitcoin is having a rest. If you're up, I'd take your profit. I only have a little, for the dream..

 

[Arbu]

Another easy day - I stuck to the same stock as usual, Mara.
I did ok, as @Arbu should have done. But it wasn't nice to watch his determined self-destruct approach.

Why exactly do you post on here, then? Everyone else has said that doing this is a way to lose money, not make it. I'm the only person who has tried to follow what you are doing, and have found that I couldn't get it to work. Meanwhile, you keep coming on and saying "Oh I did this yesterday, it was really successful, that's all you had to do." Actually, I sold gold yesterday, would have been easier for you than your Mara trade.

 

[Justin Passing]

It's easy, if you don't do it wrong.
Bitcoin moves, all the rest move, you pick one, open, and watch. Why is that hard?
What was the catalyst for gold moving? Nothing much really? Gold moved 2%, Mara 8, so it's a wash. Mara was a continuation play after a bear pattern . I don't look at gold but would have stuck with Mara. Or Mstr. Glad you did better.

Not everyone loses money.
"Doing this" is not a way to lose money for people who learn how. Doing what you've been doing is, though.
Many make some money on the SM if not a living, many make as much as they feel like. It looks like you've been chucking paint all over paper then trying to sell it as a portrait. It's never going to work. You don't get better by chucking more paint.
Find a better way.
This is not financial advice, but things like this exist. 60 percent in a couple of weeks, while the SM has been choppy. It's my fault I didn't see it earlier, but I didn't need to. Did you even look??

Some people find this sort of thing useful, or maybe use the unleveraged one with CFD or SB and double their money in 2 days.
Some would cock it up, buy when it's falling, and complain.
Which are you?
If you've read four books and don't know what the trend is, it's not for you so don't do it, do something else, with other people perhaps.

There are others similar.

 

[Justin Passing]

The tech earnings season is over, the FED aren't going to do anything radical soon. Apple wasn't crucified by any reaction in China, CHips are doing ok. Japan looks ok, China's doing OK.
Intel (chips) is way behind as it has beenen for while. Apple is already very high.
The various indices in the USA were all up today, so I expect that'll continue.
All you had to do to make a profit today, was buy something which was going up steadily. Easy.

Nothing (except Boeing!) is too erratic. BItcoin unfortunately has stopped its antics, which were profitable

Something like qqq5 should gain a bit tomorrow. It's the top 100 tech stocks, x5.
It's a UK fund which gets its value from US stock. The UK market opens at 8:am intil 16:30 and the US at 14:30 ntil 21:00, so you can't trade it after 16:30. Holding it to next day , can be risky.
We'll see. Will lokk atthe premarket first.

The FTSE may well gain a couple of percent as it has been shut during the US rally. It's about time Rolls Royce came back up.