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Ten Things I Wish I Knew When I Started Day Trading

Ten Things I Wish I Knew When I Started Day Trading

choongers

Nice write up! I’ve never been a day trader and likely never will be but I enjoyed the read


MavriKhakiss

Where the fuck did the op go. I saved it for reading tonight.


mrpodo

Now I'm never gonna be rich :(


HSeldon2020

Thanks!


VitaminGME

some people wont like what you're doing. i'm neutral about it. there are a lot of problems with what you're doing but that's not to say that it can't make you money day trading. Some other key things: what you're doing is specific to retail investors. Big funds can't day trade like you because of regulations and size. Another is Quality of Life. A lot of people including myself don't think it's worth trading your time to sit in front of computer all day looking at random squiggly lines. If that's what you want to do good for you. There are also plenty of other issues with your post but it's your money so you do you, but you definitely should not allude what you're saying or doing with any kind of actual advice.


originalusername__1

11) Most day traders lose money


HSeldon2020

Yes they do. Because they don’t realize how hard it is and how much work is involved. Check out my other post on day trading for a living.


nikhilgovind222

Or maybe it’s because trading on technicals is vodoo.


ellersh7623

Price action isn't random. Just because you don't understand how to read charts, doesn't mean it is voodoo.


thatoneboii

But for some reason hedge funds factor in TA/PA for their entries and exits? Why would they do that if it’s “voodoo”? Sure technical indicators like MACD and fractals indicator may be as good as gambling, but you can not deny that support and resistance zones and some chart patterns are definitely telltale signs of future price action.


ini0n

Hedge funds can't beat the market on aggregate so they must have inherently bad strategies or they wouldn't lose.


char-tipped_lips

OR hedge funds have too much money to put into their highest resolution algos so they have to diversify which weakens their returns. It's tough to beat the market when you are playing with 100s of thousands of shares at a time and hitting a liquidity wall. It's why good and experienced day traders don't trade more than 20-40k shares at a time. There's only so much money to take from the market at any given time.


HSeldon2020

So how exactly are there Day Traders who do this for a living? Have I been paying my bills, children’s education, etc. by being lucky year after year?


babyoda_i_am

Day trading as a living is very tempting. How long have you been doing it


HSeldon2020

5 years, took the first 2 to be consistently profitable. I have a post on how I started.


Wolfdscf1

Thanks! I hope I can find this post later- i am interested in reading about it.


KyivComrade

Yeah? Sorry to say but all studies show that trusting technicals is as about as smart as reading tarot cards. Can you show *any peer review data claiming otherwise*? Any factual studies at all? I've tried, Warren motherf*cking buffet true. There *is no such studies, no proof it works* because it doesn't. Now that light hurt your feelings but it's the truth. I got lucky and made a 200% on airplamws despite bad technicals. That's *luck* and unlike you I won't get broke believing in nonsense


HSeldon2020

Ok - we’re all fake - we come here to help people. People demand proof of our actual jobs, we provide it and then are told that the proof is photoshopped. So why bother? Thankfully enough people have been helped, some I trade with everyday now and also make a good living, despite people like yourself rooting for us to fail. And I’ve been full time for 3 years, trading for 5, but I guess that’s been all luck too.


sprakes_

Don't reply to the haters they will not understand it's not worth it, and also how much $ are you making replying to these guys, $0. So their opinion doesn't matter bro 🤏


HSeldon2020

Yes you’re right. Sigh.


ellersh7623

Those studies are a joke. They dont use actual TA in the studies. Price action TA based on trend and levels is very real.


stay_janley

https://jfin-swufe.springeropen.com/articles/10.1186/s40854-018-0087-z


[deleted]

[удалено]


HSeldon2020

Consistently? For years? Yes that is statistically impossible. I’ve had 28 straight profitable months. On Friday CAT dropped below its major SMA, while being weak to the market (SPY goes up on the 5 min, CAT goes down), I short it, and take close to $5 a share on that short. Yesterday I did the opposite on NIO. I make roughly 20 trades a day and over the last year my win % is 87.3.


SillyFlyGuy

That's a respectable win rate. What is your rate for longs on a down day, and shorts on an up day?


PM_ME_GRANT_PROPOSAL

Yes, you got lucky. Period.


HSeldon2020

It is statistically impossible to have a win rate over 85% for three straight years, averaging over 20 trades a day, every day and it be luck


[deleted]

[удалено]


HSeldon2020

It. Is. Day. Trading. Every day is either a bull or bear market, I’m holding these stocks for less than a day, some are short, some long. What is so confusing about that? It makes no difference what type of market it is.


donny1231992

no amount of work you do can make you a successful day trader. At the end of the day too much randomness is involved with intraday movements. The reasons why most fail is because they double down when a trade goes against them or ride it out instead of cutting losses and trying another setup.


NoInspection6247

Sorry, but it is possible to make a living daytrading. It's not for everyone but you can make it happen. Stock market movements are not random. They're only as random as playing poker or any other probability-based game. The average person is not good at poker. However, professionals are very good at it. And it's not random success when you do it over and over again. You need a proper system with risk management in place.


swerve408

To be fair, I have never heard wealthy people say the majority of the money they’ve earned came from daytrading It can be a cool way to make some money on the side, sure, but I highly doubt it can substitute for a career


NoInspection6247

>be fair, I have never heard wealthy people say the majority of the money they’ve earned came from daytrading So because you have 0 anecdotal evidence of someone making a fortune from daytrading, it's not possible. Great logic there. >It can be a cool way to make some money on the side, sure, but I highly doubt it can substitute for a career There are entire careers based on trading. What do you think big investment banks do? They have entire divisions of traders from equities to bonds to commodities. Many of these successful people then split off and do their own thing. Either open up a hedge fund or do a family office investment division. Some people are entrepreneurial, learn to trade, have a system and profit from it like any other professional does. Just because you can't do it, or hear how a bunch of people can't do it without losing money, doesn't mean some people can't do it. Passive investing into ETFs is not the only way to become wealthy. In fact, I've never heard of someone create a big fortune by buying a generic $SPY ETF their entire lives.


HSeldon2020

Once again, these comments are funny. You realize there are many many successful day traders, right? For the past three years I’ve paid my bills, and lived very comfortably, supporting my family, from being a consistently profitable trader. So has many others. I trade with people more successful than myself, and watch them every day. But no, you keep thinking it’s a myth


Friendly_Price903

I think sometimes folks do not realize what they have accomplished may not apply to everyone regarding their success or failures.


Marmom_of_Marman

Thank you for posting. I had been steadily gaining about $200/day recently trading about half my account. One FOMO trade wiped out a big chunk of my gains. You’re right, small wins are key, and getting too carried away is dangerous. I have only dabbled in scalping and maybe hold for a few days. I have missed large upswings due to thinking trades won’t keep winning.


char-tipped_lips

Start analyzing the price/chart action around where you miss your upswings and when you take profit. Apply different indicators - momentum (oscillators), volume (OBV), volatility (Bollinger Bands) - to those movements and see if there's hidden information or correlations you're missing that makes some trades balloon while others fail. Once you see something you think might explain the difference, backtest it 100 times/year for the past 5 years in a variety of market conditions. I've recently been doing abbreviated backtesting from this month (middling), December 2020 (bullish) and March 2020 (bearish). If the price action is consistent and reliable across ALL those periods (say a price action is predicted by a particular indicator or volume change 60% of the time), THEN AND ONLY THEN do you start trading it and developing a plan around it. I promise you that if you do the work you'll figure it out and be profitable. 95% or whatever of people look at that paragraph and say fuck it, I don't need to do that. Be in the 5% or you'll keep watching the world and it's beautiful green benjis fly without you.


mko710

Can you dm me some links to watch. ?


HSeldon2020

Done


Hinote21

Same please!


intertubeluber

The S&P is up 55% over the past three years. Have you back tested your returns over other three year periods? 12.) don’t buy the bullshit you sell.


HSeldon2020

I think you’re confusing day trading with long term investing. Every day you’re starting with zero positions and ending the day that way. We trade a down day and an up day.


FreeeeNelsonMandela

Yeah the people in this thread are just clueless. Its like statistics isn't math to them


HSeldon2020

Seriously it is shocking the level of ignorance here.


ilessthanthreekarate

Don't be shocked that most people are stupid. They just are.


donny1231992

Where did I say in my post it was a myth? There is a very small percentage of people who actually make consistent profits with day trading, the majority fail. That’s just the statistics.


plawwell

I think the true test of a day trader's skills are in a bear market. It's easy to make money in a bull market. We all can do that but profiting from bear scenarios is where there is divergence.


lateralus014

Day trading is about managing risk, and while its not easy at all, it is very simple when broken down. The problem is, too many traders underestimate how much work is involved (I also underestimated it) When institutions and funds get in and out of positions, day traders can hop in and follow that trade/trend and then get out when volume comes in/dries up. There is 1000's of strategies, and just because you gave up/didn't try, doesn't mean its not possible =) There is a lot of randomness in the charts, no doubt about that. Whether the market is up, down or sideways, day traders can make money through careful analysis of the charts and fundamentals. With trading, you are making a bet the price will move one way or the other, you don't think its possible to deduce the correct direction, and make a consistent profit day after day? There's a lot of smart people out there doing this every week, and have been since markets have been around, which is hundreds of years by now.


_lcll_

That's like saying a person can't be a professional poker player and make money doing so.


donny1231992

I never said it isn’t possible, i said most fail. There are a small percentage of consistently profitable day traders, but the majority are not profitable. That’s just the statistics.


plawwell

It's like playing chess. Watching for patterns makes you better. Earnings season is cyclic so you can see when various stocks bottom out and start to rise on expectations. You can make calculated gambles on how big stocks with a track record will move as they approach earnings. There's also the old head and shoulders reaction of an event to stock. Bouncing ball syndrome, etc. There's various ways to get familiar but equally it doesn't take much to go red in a big way if something tanks. But it's all risk.


TRUMPARUSKI

No, because if it was anything other than majority must lose then entire world economy would collapse overnight. If every person had the ability to stay at home and click buttons on a computer screen whilst in their underwear and masturbating with the free hand, and somehow money was produced practically out of thin air with respect to the fact that absolutely zero tangible value was added to the greater good or society in general then absolutely no one would show up to their respective jobs and the world would stop functioning.


HSeldon2020

Wow - you do realize it takes years to be a successful trader right?


nuttygains

Do you share your PnL?


WannaBeRichieRich

There is someone on the other side of those trades?


Wolfenberg

This is the nature of all things in life. Any time there's competition, most lose, otherwise it wouldn't be a competition.


heavynine

People put thousands of hours into becoming pro athletes, musicians, artists and those probably have a lower success rate. I doubt most day traders put in a thousand hours before trading real money. Someone else used the example of professional poker. Another good example of something most people will fail at.


Angel512757

Where tf did the post go


AlwaysDoTheLine

This sub probably thinks you need to be protected from the scary notion of day trading. God forbid you make your own conclusions


RandomUsername1119

Piggy backing on the FOMO comment: There's always another one. People feel like they missed out on whatever squeeze, rocket ship stock move. GME, PLTR, AMC... There is always always going to be another one, so don't jump because you think its a once in a lifetime opportunity.


tendiesandwendys

Dude, 100% accurate. I remember the HMNY (movie pass) going from $3-$38 in a couple of days. Last year at this time NIO was trading at a little over $2 and peaked in the $60s like 6 months later. Before all that AMD at $2 now $81. TSLA from $200-$2200. Of course GME and AMC. On "smaller" scales. Amazon 3x the last 5 years. CLOV, RKT, TLRY, and other 2x in days. All this year. PBF down to $5 up to $15, down to $6 and back up to $18. You won't time them a but you don't have to!


HuskyPants

You left out WKhS 😶‍🌫️


Friendly_Price903

I was day trading before it had a name, online and NOT free for sure. 1994 ish. Made some, lost some. I learned a lot and do OK. I trade to make money. Sometimes that happens pre market, sometimes during the market in a few hours, sometimes a day, sometimes a week. So I guess I am a profit trader. Generally the less time I own a stock the better since the exposure is always a factor if you own it. I'm not big on holding over the week ends if I can avoid it but I actually am as I write this. Mostly play the same stocks over and over, add some, drop some.


Delavan1185

This sub actively hates day trading, and active trading of any type, admittedly for the valid reason that it's really easy to lose a lot when you start. TBH if you want to teach people, you are better off posting elsewhere, including r/pennystocks or WSB. But, overall, this is excellent advice. My first year I lost a bunch - did well dodging the COVID crash and trading on the way down, but kept expecting a double-bottom and didng stick to tight SLs on shorts. The past 18 mo. I've managed to beat the market fairly substantially. Not a day trader, more of an intermediate-term swing trader, and even that's a fair amount of extra work. But yeah - when you first start you don't know shit. I'm a former political economy professor, and while that provides an excellent basis for fundamentals analysis and understanding which sectors are safer/riskier in a given quarter, it's not helpful for the actual dynamics of how to place orders, setting up a screening system, etc.


HSeldon2020

I don’t trade penny stocks or meme stocks, nor do I do morning gappers. These subs don’t know what day trading really is


Delavan1185

I'll buy pennies, but only if I've done real DD on the stock and understand the market conditions. But I also don't hold them looking for multibaggers - too easy to get hit by dilution. What people don't get, and takes the longest time to learn, at least for IT swing trading, is how to fuse fundamentals and technicals. Fundamentals and sector screening tell you where to look, Technicals tell you entries and exits. The other thing they don't get is that its portfolio returns, not individual stock returns. So many people think TA is BS because they see busted patterns on single trades and don't get that it's just another risk management tool that helps identify consolidation patterns, ranges, etc.


Delavan1185

I generally don't do memes either. I *am* annoyed that I almost bought AMC at $2 before it became a meme and got scared off by the bankruptcy talks. But v0v.


yunoeconbro

I'll add one more. ​ It's not a competition. My buddy got me into trading. We discuss our trades, wins and losses. Sometimes I feel myself wanting to "beat" him. This causes you. to make reckless trades (I'm looking at you Palantir...and you silver.). ​ Don't compare yourself to someone else. There's always going to be someone with a bigger gain/account. It's about making money. It's not a team sport. It's not a competition.


HSeldon2020

Agreed. I enjoy discussing the trades with other traders afterwards. It’s definitely a team sport.


Megabyte7637

Great list


HSeldon2020

Thanks!


MaggieJaneRiot

Post was removed. Any other place I can find it?


DefinetlyNotAtWork

Don't know why this was deleted. You had some great advice.


rcrttt

Wow, thank you for the plethora of information. A great read. Aspiring to attempt to trade for a living and this was a gold mine. Again thank you for the information and taking the time to put this together.


HSeldon2020

Thank you!


Lord_Varys

Scalping over a few minutes? Man my scalps last seconds


HSeldon2020

Yes of course I’ve had one that are 5 seconds and some where it is briefly consolidating and I’m out in a few minutes


Ackilles

Love the write up, but my favorite part was number 10. "Oh shit my scalp isn't going well, let me go post a reddit thread detailing what is going on and request advice!" Reminds me of "The IT Crowd" when they are emailing the fire dept to report a fire


Friendly_Price903

Nice job on putting it all together as you do and see it, help information for sure.


John_Hollywood

Well put post. It’s a hard thing to learn and you have to find a robotic way to start so you don’t let your emotions get in the way. Eventually you will start to gain and intuitiveness and you will be able to adapt more to your trades and buy and sell points. But plan your risk out before you enter the trade. The lesson I learned was to play out my risk tolerance before I hit the buy. Helps keep my emotions on check both on the gains and losses.


dabrjoj1

Me reading this after putting 1k in CLOV


HSeldon2020

This is the way?


Fador33

When I talk to people about day trading, I tell them the biggest difference between day traders trading stocks like AMC vs the people there for the movement, is that day traders are looking for small, consistent gains. People holding stocks for homeruns/long term investments are very different. A good day trader wants a positive win% with their trades and make multiple trades(depending on the type of day-trading you do) a day with a small, consistent gain on each trade. 3-5% a day makes you more than you think, even if you don't do it multiplicity. Great write up my friend, good luck.


RexKobra

People who say “It can’t be done,” are always being interrupted by somebody doing it. Good on you, OP. Keep working at it and bathing in your successes. Luck is where preparation meets opportunity. The naysayers will always have something to say. Lots of talkers out there, few doers. All of them too afraid to stick their neck out , put in the extra time, and strive to be better. I have a couple of good friends who day trade for a living, both 10+ years and there is no voodoo or magic behind it. Just a couple of dedicated , smart and patient men. Best way I can describe them as is stoic traders. Emotions are completely kept out of the equation. They have good weeks, and bad weeks, but over the years they have done very well. I appreciate the tips and time you took posting this.


Auquaholic

Good stuff. Learned mostly the hard way. Where can I find your Friday Lotto? Edit: Found it.


HSeldon2020

Great, let me know if you have any questions


sin1sback

hey man, what trading platform do you use? i've been using thinkorswim for the past month now and i really like it, but if there is a better one or if there is something about tos you don't i would appreciate the info! thanks for sharing


HSeldon2020

I also use ThinkorSwim. I like Finviz Elite and OptionStalker as scanners as well.


sin1sback

how do you manage the lag through thinkorswim? friday morning was unacceptable?


HSeldon2020

I had to change the memory settings because yes it was unbearable


Marky0choa

[Take your advice](https://www.reddit.com/r/Daytrading/comments/mxb28l/simple_rule_for_a_better_forum/) and stop spamming posts like this one. The last thing people new to investing and trading need is being taught by others who started trading in the past year, amidst the biggest bull market run in history, with the VIX averaging higher than ever, where every penny turns green over night, where you can 10x your investment with meme stocks. Wait till the music is over, I'm curious how will you do in the next 2-3- years. u/redditspeechcensor is right. These posts are superfluous.


HSeldon2020

If you read any of my posts or bothered to check you’d see I’ve been trading for a living for the past five years.


Marky0choa

Sure you did, mister HSeldon2020. Started posting 7 months ago, but is [unaware of what might cause](https://www.reddit.com/r/wallstreetbets/comments/l6fjt8/seriously_who_the_hell_is_selling/) a stock's price to change, specially one overvalued to the tits. I made 1.3M$ in the past 14 months yet you don't see me preaching gospel. Let's face it, discipline for a beginner gets you so far when the market itself does 90% of the job right now.


HSeldon2020

Obviously AMC is overvalued, it is also primarily retailed owned. I could care less how much you made. Actual traders avoid these subs because of people like yourself. If you don’t want to help people, then don’t.


Marky0choa

I don't want to help people because I'm aware what I did was only because of luck. On the other hand people like you misdirect others into thinking this has nothing to do with a market full to the tits on Quantitative easing policies.


HSeldon2020

If I’ve only traded for a year I might agree. My win % in 2019 was 85.6%, in 2020 it’s 87.2%. But that’s luck, right?


Marky0choa

wr tells nothing without risk/reward ratio, but I'm sure you're perfectly aware of that. Besides, I never said it's not possible. There are definitely consistent traders out there. Are you one of them? Maybe. Frankly I don't care, I just needed to vent on these types of generic posts like this one. If someone finds them useful then power to them. Didn't mean to take it on you so I apologize for that. I'll always root for the little guy in a market designed for the rich by the rich


HSeldon2020

Thanks, appreciate that and understand. My Ratio in 2021 is over 2.4 which is lower than 2020.


redditspeechcensor

This. Also: https://ibb.co/0qGdGqk


HSeldon2020

Yes that offer stands


According-2-Me

Have you ever day traded meme stocks?


Uncleverstockdealer

OP great post. I only dabble for fun and am familiar with most of your ideas but that was a great rundown. Also, great username. I see you mentioned you were also a former professor of sociology. Nicely done.


HSeldon2020

Thanks - glad you caught the reference.


Uncleverstockdealer

Brilliant. I read the comments on some of your other posts and see I’m not the first. I’m 54 so perhaps it’s an age thing. Good luck with your trades; glad you’re doing well!


Lumen81

Great information! Thank you for the insight. I’m surprised I actually understood.


HSeldon2020

Glad it helped.


Pleaseusesomelogic

What type of trade are your most preferred or most used/profitable? When I think of daytrading, I always thought that it’s 99% scalping a predicted move.


HSeldon2020

Read my other post on Day Trading for a living - I’d say it’s about 5-10%.


BEERS_138

So to hit on no.3.. if the reason i entered a trade is still viable.. continue to hold despite the profit or loss


HSeldon2020

In an oversimplified answer - generally yes.


BEERS_138

Thanks for sharing.. im going to save this post for later.. ive got a trade im workin on was up 150% dropped to 75 and workin my way back up


HSeldon2020

Care to share what the trade is? I’ll happily take a look


BEERS_138

Lol i think you know... the trade that shall not be named here


BEERS_138

Damn i shouldve said its an old brick and mortar store.. thats turning everything around into more of an e-commerce business and they added a few new members to the board coming from amazon, google, and chewy to help in the transition to online


HSeldon2020

Lol - best of luck to you!


BEERS_138

Thanks .. i will be back to pick your brain in a couple months whenever this plays out


UncleBenji

Thanks for your valuable insight! I take the opportunity to learn as much as possible at every opportunity so I will continue to follow your posts. I do have a question though and that’s whether or not you are familiar with the “wheel” strategy. If so, it is something you have done and is it more worthwhile than day trading spreads?


HSeldon2020

I am. It’s fine, I just don’t use it. I only sell Puts on a stock I want to own at that price.


UncleBenji

Thanks for your input. I watched a video on it and understand how and why it works but i keep thinking it’s more labor intensive than other strategies and probably pays around the same.


_sun_god_

New guy here. Great post - thanks for putting this out there.


HSeldon2020

Thanks!


_sun_god_

Wsb got me into this. What are your thoughts on that sub?


Cap_Lapse

Great content! Thanks for posting. Ignore all of the haters. This sub has oddly dogmatic view points that the only way to participate in the market is buying and holding index funds and technicals are pseudoscience


FEDD33

I'm not a trader but I wanted to say thank you for posting. These stock sub reddits need more posts from people like you who are willing to teach and share wisdom


stoneskinmedia

Thanks for this post. Great info. How the fuck go you double a 5k account in a month without doing high risk options. Can you give an example? With weekends there's only 22 trading days the average month, getting 5k profit would require 227.27 per day, which is about 5%. 5% every day and no downside just seems impossible, even if you go all in on every trade.


hawaii_guy_808

Thanks for the write up. I've been looking into easing my way into day trading and found this post to be quite useful. Not sure why others are trying to shit on your post.


Clos254

Whst happened to the post.


Juicy_Vape

why was it deleted?


Spyu

1. Don't day trade.


HSeldon2020

It’s my full-time job, has been for years. It’s also the job of many many others. I guess we should all quit, huh? Damn, now I have to find something else to do thanks to your sage advice.


Likeaghost1995

I needed to hear all 10 of these. Thank you!


HSeldon2020

Happy to hear it helped you!


Beeonas

Saved! Thank you for the great write up!


HSeldon2020

You’re welcome!


redditspeechcensor

I’m always interested in these posts mainly because I question why they believe they have anything of value to share. This is the internet ffs, you could be some Nobel prize winning scientist or some McDonald’s wagie for all anyone here knows. And your lack of providing any evidence of your “status” as long term profitable day trader makes this that much more suspicious. Why not mention what your rate of return compared to the index is over a time span? I’m not saying you’re a larp but you easily could be one for all anyone knows (and the odds of that are quite high). Edit - To all the dumbshits here downvoting me, he is selling a membership to some options flow website. https://ibb.co/0qGdGqk


HSeldon2020

I hear you. That’s why I always check the profile and other posts. Give this a read, it answers your question: https://www.reddit.com/r/Daytrading/comments/ntsdd5/day_trading_for_a_living/?utm_source=share&utm_medium=ios_app&utm_name=iossmf


istanbulliescryalot

I took your advice and did a quick bground check. Confirmed - this dude is a whackadoo, pay no attention. Thanks for sharing your advice. I'll take what I want from it and disgard the rest, just like any other rational person would..


HSeldon2020

Based on?


istanbulliescryalot

His comment and post history...


istanbulliescryalot

I have the urge to clarify.... I'm not talking about you, OP. The time and effort you spent offering your advice and experiences in this post is much appreciated. Thanks for sharing!


redditspeechcensor

With all due respect, that post doesn’t address the concern at all. In fact it’s dismissive of it entirely on the absurd basis that “an attorney shouldn’t have to provide a copy of their law degree”. And quite frankly if I was soliciting law advise from reddit - which I wouldn’t - I would demand evidence of that individuals credentials. So we have circled back to, random internet person seeks to give advice to novices who don’t know what they don’t know and don’t know if the advice provided is good or shit. And you refuse to provide any type of credentials to suggest that your opinion and/or advice is any more or less valid that anyone else’s.


HSeldon2020

Seriously - either take the advice or don’t. Over the past year I’ve help hundreds of traders on here, some of which I trade with now on a daily basis. I trade every day in a chat room, posting my trades live. If you want evidence, then come watch me trade. And again, why exactly do I care if you question it or not? Ok, so you don’t take the advice - great, don’t take it. For all I know you have never made a trade in your life, or you’re an extremely successful trader - guess what, I don’t care - if what you said makes sense, I’ll consider it. I’ve played this game before of showing some random stranger screenshots only to hear - “those are photoshopped!”. Not going down that road again. Be cynical, I’m happy for you.


redditspeechcensor

Your response is very passive aggressive and quite odd. If you have a trading chat room where you help people, why not just link it? That seems more effective than going on a rant about how you don’t care about what I do or do not think. Shrug.


HSeldon2020

It’s not passive aggressive, it’s annoyance. And I don’t shill for any place, whether I trade there or not. If you want the name of it, DM me and I’ll happily give it to you.


LoveOfProfit

Only Trump was saying the market would crash if Biden got elected. Everyone else figured the Dems would print more money and market would keep pumping. 9 in general is bullshit. Yes, if you don't know your shit, your guesses are worthless. But paying attention to macro events and news is important for context, and every trader or investor would be better off trying to form an opinion to find an edge. I was able to make a ton of money on the COVID crash by going long TMF for a few days because it was obvious to me what was coming, and what effect that would have on both the economy and markets when the fear truly hit.


HSeldon2020

Not Biden getting elected - the general consensus among financial analysts was that if the Senate went to the Dems (meaning they won both of their seats, which they did) that the market would react negatively to the lack of “check” on economic policies (notably taxes). The opposite happened. And I’m sure you’re amazing at predicting the market.


LoveOfProfit

I'm sure you're amazing at predicting short term stock moves.


mirinforever

Don’t daytrade. Perhaps OP is a member of the minuscule percentage of exceptionally talented traders that consistently profits, but the vast, vast majority will lose.


uncle81

And that’s primarily because they are over confident, to emotional with their trades, or straight up don’t know what they’re doing. There’s a lot of people who day trade for a living and have done so for years. And what do these people have in common? They all know their stuff, aren’t emotional with their trades, and aim to be humble with their winnings and understand their losses


HSeldon2020

Thank you! And yes, most fail because they don’t seem to get how hard it is. But there are many who do this for a living. They avoid these subs like the plague because of the toxic skepticism


uncle81

Yeah, even the specific day trading subreddit gets hit with people whinging about us ‘only thinking short term’ or that ‘you should only buy to hold forever’. It’s just sad that people are so opinionated on how 1 person tries to make a legal living. Me buying and selling 500 shares in Tesla in the space of a minute and a half isn’t exactly harmful to general investors


BachelorThesises

All this tells me is to basically put your money on a stock and hope it goes up and that you somehow time it right.


HSeldon2020

Yes. I have an 87.3% success rate using that exact strategy. Try trading my other posts before making assumptions.


jon_prince

Good stuff


HSeldon2020

Glad you liked it.


dextokapher

Number 1 should be: Day trading is for suckers LOL


HSeldon2020

Yes YOU shouldn’t do it, that much is certain.


irregularbrain

Thank you for the info!


mimo_s

Is there any paid software/service that you recommend? This could be both for trading and research.


HSeldon2020

Yes but you’d have to DM me, it’s against the rules to post anything like that.


mimo_s

Got it


cheesyandcrispy

Thanks for posting!


imstealingacorns

interesting. appreciate the time it took for you to write this up.


automaticg36

Love the post!!


CitesQuo

Nice read! *Continues to go to wsb to pump memestocks and the next big “squeeze”*


L0LINAD

Hey this is a great write up. Solid


Wolfenberg

Why does this always happen.. I see it for 10ms and then just [removed] 😒


group-hallucinations

Thanks for the great info!!!


[deleted]

[удалено]


verity0

Thank you for the quality post! Don't worry, haters gonna hate.


DontosRif

I'm a complete stock novice and at this point its mostly just something that's caught my eye as interesting. I don't have a ton of time to put toward stocks, but I've gotten a small bit of fun money in it to try things through trial and error. Your posts have been some of the most interesting things I've read on the topic. Thank you. And I'm super disappointed the mods removed it, but if the text is still available maybe r/stockmarket would keep it?