Talking stocks, trading, and investing in general

[VICI]

Originally Posted by Formulansx

Any of you guys do some occasional day trading? If so, what is your general percentage goal before exiting?

Depends on the position.

There no simple rule of thumb.

[Swashplate]

Any thoughts on trading with Robinhood?

[CamSLC]

Originally Posted by glenn_herwig

Just bought Nvda for an average price of $102.80 what do we think about this tech stock on here? I like it makes good graphics card. Technicals I see it going up to $108. Who knows this market is so over bought.

I feel as though it's on the high side, but I was holding it through several price targets. I think my average cost was around $40. Took the majority of the earning out of play last month. Hasn't been good to me since then.

[s2h904]

Originally Posted by Formulansx

Any of you guys do some occasional day trading? If so, what is your general percentage goal before exiting?

If a stock goes up three days in a row, sell before close or after hours day 3. Also, if you day trade never hold a stock over the weekend.

This may or may not be common knowledge to all-just a FYI.





If you are long disregard the above.

[Formulansx]

Originally Posted by s2h904

If a stock goes up three days in a row, sell before close or after hours day 3. Also, if you day trade never hold a stock over the weekend.

This may or may not be common knowledge to all-just a FYI.





If you are long disregard the above.

I have a ton of long positions but I gave day trading a shot for about a year with some cash I've bled off from dividends. This was about two years ago. I decided to play it very conservative though and only traded securities that I would not have an issue keeping long term in an effort to get the feel of day trading. I was hoping to surf the market if you will. Some positions I beat the year long term gain, some I didn't but I did ok. I had 3 blocks of cash for investment and eventually got stuck in all three after about a year of trading. Those finally came back to be gains and now I'm back in a good place to day trade again. I've had some luck so far this year. My goal has been .8 to 1% per trade. On good days higher. I would love to beat a 1% daily gain on days when I'm in the mix. Usually this was about 3 trades a week. Not aggressive day trading by any means but a start I suppose (still have a day job). Some of those positions ended up being swing trades though so I'm not opposed to that. I just found this thread and there's some good information here. I'm hoping to up my game this year now that I'm back in so scouring for tips and techniques.

[Etschell]

damn Canada inflation above 2% uh oh...

[GB-man]

Originally Posted by s2h904

If a stock goes up three days in a row, sell before close or after hours day 3. Also, if you day trade never hold a stock over the weekend.

This may or may not be common knowledge to all-just a FYI.





If you are long disregard the above.

I understand there are different methods but day trading is by definition completing the trade during the trading day. If you're holding after close you aren't really day trading but swing trading.

This is an important rule because often in a day trade you take on a much much more volatile position which could absolutely destroy you between close and the following open.

In some respects, swing trading is just day trading for people with more appetite for risk.

[s2h904]

Originally Posted by GB-man

I understand there are different methods but day trading is by definition completing the trade during the trading day. If you're holding after close you aren't really day trading but swing trading.

This is an important rule because often in a day trade you take on a much much more volatile position which could absolutely destroy you between close and the following open.

In some respects, swing trading is just day trading for people with more appetite for risk.

Could not have said it better.

[s2h904]

Long story short, back in November I did very well with Dry Ships(DRYS). I can honestly say it was more luck than skill. Stocks rarely go from $5-100 in a week. Anywho, a portion of those profits I used to play penny stocks. To date I am down $8K-but I am not selling one share. I am playing with house money so I hope one of the stocks will pop via earnings, PR news or a takeover.

My dad and uncle have portfolios that they can live off of the dividend comfortably. I am not in that position-maybe one day with more seasoning under my belt.

Best of luck to all.

[azguy]

Originally Posted by glenn_herwig

Just bought Nvda for an average price of $102.80 what do we think about this tech stock on here? I like it makes good graphics card. Technicals I see it going up to $108. Who knows this market is so over bought.

I sold all my clients positions in NVDA yesterday, $2.5 million worth, but we were up 44% in the trade and I actually sold 25%of the position at $115 weeks ago at 60% gain from point of entry. PE is 36 and Intel is pissed at hearing their name and CEO is on record saying he wants to crush them in a margin war.

I don't like it here at all, the momentum guys got out yesterday, a potential 8% gain ($108% as you say) for a potential 10-15% loss ($85-90 what I say) is not good math.

[azguy]

Originally Posted by Formulansx

Any of you guys do some occasional day trading? If so, what is your general percentage goal before exiting?

It's hard enough to be right, you want to be right in one day I don't mind frequent trading but give yourself weeks or months. Sell 25% of the position after 5% gain, 25% after 7.5%, 25% after 10% gain and let the rest ride until you want out.

[azguy]

Anyone looking at Tesla, I'm OK with it here at $250. Upside $300, downside $225-235, good math

[armen34]

I don't like it here at all, the momentum guys got out yesterday, a potential 8% gain ($108% as you say) for a potential 10-15% loss ($85-90 what I say) is not good math.[/QUOTE]

X2

It broke below the 50DMA yesterday too. Be careful!

[azguy]

Yeah, not good, 90 could be next stop, check out chart, see how it always bounced along the 50 MDA

NVDA.jpeg.pdf

[armen34]

Anyone looked at GV lately? I've been trading in and out for the past few weeks. I don't hold a position anymore. Earnings are coming out soon, any thoughts?

[Gaijin]

How the heck do Day traders figure out their capital gains taxes on hundreds of transactions at the end of the year when their 1099 shows up.

That's gotta be a nightmare?

[VICI]

Originally Posted by Gaijin

How the heck do Day traders figure out their capital gains taxes on hundreds of transactions at the end of the year when their 1099 shows up.

That's gotta be a nightmare?

The first pages of a 1099 shows the summary. Also companies usually compute it on the screen.

Another answer.. it's up to the CPA's ;)

[armen34]

Originally Posted by Gaijin

How the heck do Day traders figure out their capital gains taxes on hundreds of transactions at the end of the year when their 1099 shows up.

That's gotta be a nightmare?

It's actually easy, the tax program auto uploads all the data.

[Gaijin]

Thank you.

[Formulansx]

Originally Posted by Gaijin

Thank you.

I had about 100 short term trades last year. In the US you only have to report your total gains now, or at least last year. Didn't get audited

[Swashplate]

Anything on Robinhood.com as a trading platform?

[armen34]

Originally Posted by Swashplate

Anything on Robinhood.com as a trading platform?

How long have you used it for? How do you like it?

[Swashplate]

Originally Posted by armen34

How long have you used it for? How do you like it?

A couple months now. No commissions and fees only if you trade with margin.

I like it but it makes me uneasy for some reason, i.e. what's the catch.

But with all of the fee wars going on perhaps they figured it out ahead of time.

[beer]

Originally Posted by Swashplate

A couple months now. No commissions and fees only if you trade with margin.

I like it but it makes me uneasy for some reason, i.e. what's the catch.

But with all of the fee wars going on perhaps they figured it out ahead of time.

did you read the smallprint? companies here offer a similar free service but make money off your deposited cash by investing it themselves (i guess similar to a bank)

[superdog]

ummm, what a day so far...

[m j b]

Originally Posted by s2h904

Long story short, back in November I did very well with Dry Ships(DRYS). I can honestly say it was more luck than skill. Stocks rarely go from $5-100 in a week.

OMG, what a POS that stock is! I owned it many years ago, and last month I saw that it dropped like 20% in a day, so I started watching it. Read up more on it, and eventually I shorted it.

I've done some day trading, some index option trading and other stuff, but never shorted before. I made money in two hours, and got out happy.

Then the next day, I shorted it again. And it went up. And up.

I sold more.

And it kept on going up. By this point, I'm in too deep, and I decide to hold on for another day. It's got to go down, right? It's garbage. But I couldn't sleep, I couldn't relax, peeing blood, what if they do a margin call? What if I get in a short squeeze? OMG.

The next day, it opens up, then settles down a bit and holds. I'm feeling better, but I'm still down about $8K on the trade. I resolve to myself, when I get out of this, I'm going to buy a BLNR. If I'm going to piss away $8K, let me at least have something to show for it.

The next day it went down. Two days of no sleep, can't eat, can't relax, and I got out with a very nice profit. Natch it's dropped even more since then, popping back up a bit here and there, but it's still garbage. However, I'm not shorting it again. Geez, what a nightmare.

I decided to sell my Daytona before I buy the BLNR so that the wife doesn't kill me, but I will get one... soon.

[azguy]

Originally Posted by m j b

What if I get in a short squeeze? OMG.

I hate to tell you this, but you already were that's one reason the stock rallied. Shorts were covering their positions and it drove the price up.

[m j b]

Originally Posted by azguy

I hate to tell you this, but you already were that's one reason the stock rallied. Shorts were covering their positions and it drove the price up.

You're probably right. It was a good lesson, fortunately, it only cost me sleep and worry, not money.

[s2h904]

Originally Posted by m j b

OMG, what a POS that stock is! I owned it many years ago, and last month I saw that it dropped like 20% in a day, so I started watching it. Read up more on it, and eventually I shorted it.

I've done some day trading, some index option trading and other stuff, but never shorted before. I made money in two hours, and got out happy.

Then the next day, I shorted it again. And it went up. And up.

I sold more.

And it kept on going up. By this point, I'm in too deep, and I decide to hold on for another day. It's got to go down, right? It's garbage. But I couldn't sleep, I couldn't relax, peeing blood, what if they do a margin call? What if I get in a short squeeze? OMG.

The next day, it opens up, then settles down a bit and holds. I'm feeling better, but I'm still down about $8K on the trade. I resolve to myself, when I get out of this, I'm going to buy a BLNR. If I'm going to piss away $8K, let me at least have something to show for it.

The next day it went down. Two days of no sleep, can't eat, can't relax, and I got out with a very nice profit. Natch it's dropped even more since then, popping back up a bit here and there, but it's still garbage. However, I'm not shorting it again. Geez, what a nightmare.

I decided to sell my Daytona before I buy the BLNR so that the wife doesn't kill me, but I will get one... soon.

You had me at this...........

[towernick]

Not sure if anyone is on Schwab's platform, but cost per equity trade drops to $4.95 tomorrow.