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What's Your Process?

I mostly automate things, but before you reach that step, you need to understand what information and processes to automate by learning how to day trade.

Step 1: I look at the futures to see what the day is supposed to look like. (Today market looking a little flat.)

https://pic8.co/sh/AGeYkX.png

You can also check how the international markets did, in comparison with the futures.

Step 2: Find all the "Strong Buy" (or equivalent) stocks. I recommend you check many analyst ratings on many platforms, but, to get started, use TradingView. Sort by Volume to see what people are most interested in, today.

https://pic8.co/sh/DBCIHX.png

This morning, there are 1407 Strong Buy stocks of maybe 6,000 total. Looking pretty good for a day that will supposedly be flat.

Step 3: Check for Unusual Option Activity.

https://pic8.co/sh/EjPqOY.png

Again, sort by volume. If you see something at the top of TradingView and something at the top of Unusual Option Activity, you will almost certainly want to be trading that stock, today.

Today, options are telling me to play with SNDL and AAPL.

However, I bought a few thousand dollars worth of NAK, at the top of the TradingView list, at 38 cents. So, this stock will be my primary concern, today. Generally, I sell half if I double my money, so I will likely be selling half of my NAK today.

Step 4: Zero in on a stock. In this case, I'm liking NAK.

https://pic8.co/sh/qgL8xG.png

What I see, when I look at the chart, is that I need to sell most of my NAK if the stock reaches $1.85. I will hold onto a small amount, in the event that it moons to $18.00. The odds of it hitting $18 are very, very slim. The odds of it going past $18 are astronomical. The trading algorithms will test a previous high, no problem. A high from a while back is where they will test if it breaks that "resistance" line. I will be selling 100% of the stock should it get to $18.

Point being, don't guess prices outside of the channels the algorithms will be trading in. If you are really terrible at the numbers, just set your sell limit .5% - 1% higher than your buy price. You'll get it in a day or two.

Step 5: Time it right.

Everyday, the stock market follows a similar pattern.

https://pic8.co/sh/pmKXKG.png

The best time to buy is usually about 11:30am, market time. The best time to sell is usually around 9:45am, market time, the next day. If you "Buy at Lunch" and "Sell in the Morning", you can usually narrow your trading time down to 1 hour, starting at 9am, market time, then come back for a half hour at 11:30am. An hour and half a day is reasonable, once you get rolling. It is a lot less, once you've automated the searches.

Part of timing is also watching the S&P chart. If the S&P is rising drastically, instead of slightly dipping at 11:30, you are going to have to rethink your plan or simply do nothing. What you want is the S&P to be slightly dipping, at the same time as the normal trend (lifetime average of the market), AND for the stock to be slightly dipping, as well.

THREE CHARTS, ALL DIPPING AT THE SAME TIME.

  • The S&P Chart
  • The Daily Average Chart (which never changes)
  • The Stock Chart

https://pic8.co/sh/V4MF4w.png

There is a little more flexibility when you sell, because you already know if it is in the money, or not. But, the idea is the same. Sell when the highs align.

It's really that easy to get started. My main piece of advice for beginners is: DO NOT buy anything other than a "Strong Buy" (or highly rated across multiple platforms) and make sure the Yahoo Finance page shows a "Bullish" Stochastic and that "Short, Medium, Long" projections are all Bullish.

If you buy a "Strong Buy" on TradingView, that also appears Bullish on all the Yahoo meters, you will make a little money every time. You may not make it in a day, but you will get your profit when the algorithms start back testing peaks. Bonus points if it is a dividend stock, because you will make money if you have to hold it.

This strategy has yielded me a 99.9% success rate. It works because of "market irregularities", which is really representative of "price uncertainty". You just need to guess within a slightly more narrow margin compared to what the automated trading systems are guessing.

What will happen, when you focus on these small daily gains, is that you will be sitting on 20 to 30 great stocks where one of them WILL spike.

That is where I like to be. Like, today, I am sitting on NAK. It's going to be a great day for me and I'll only have to put forth 1 minute of effort at about 9:45am.

Diversify your positions to catch those occasional leaps in profit.

tl;dr The road to wealth is a slow, steady march. Do not fall for the tricks that Reddit's "WallStreetBets" are playing. There are plenty of good plays to be made, but they will naturally happen to you if you are day trading correctly.

Once you start regularly getting 100 stacks, then options start to become an easier way to work with your equities. Just remember to keep your spreads in slightly more narrow than the algotraders.

Edit: This morning sold TTT, BMBL, NAK, PZZA. Targeted 1% gains, did quite a bit better than that on each. I'm looking at BMBL again for the 11:30 buy. I think the price is outrageous, but the cabal is into it, so it may be another Beyond Meat.

Edit 2: Buying AKRO, TRX, BMBL, AAPL. We'll check in with them, tomorrow.

Edit 3: If you check the charts, you will see the prices of my buy time (11:00 market time) and how each of these charts went up a smidgen, after that. As I've mentioned; I'm shooting for a 1% gain each trade and that is where my sell limits are automatically set at unless I manually change it. This helps me not get greedy.

I Made about $1 a share on BMBL, AKRO selling same day, beating 1% target. They since dropped. Made about .09 cents a share on TRX, meeting 1% target. It has since dropped. My worst was AAPL, where I also made about a dollar per share, but that is less than the targeted 1% gain within 24 hours. So, once again, we have a 100% success rate making a profit, though I was slightly under where I would have liked to have been due to AAPL.

I mostly automate things, but before you reach that step, you need to understand what information and processes to automate by learning how to day trade. Step 1: I look at the futures to see what the day is supposed to look like. (Today market looking a little flat.) https://pic8.co/sh/AGeYkX.png You can also check how the international markets did, in comparison with the futures. Step 2: Find all the "Strong Buy" (or equivalent) stocks. I recommend you check many analyst ratings on many platforms, but, to get started, use TradingView. Sort by Volume to see what people are most interested in, today. https://pic8.co/sh/DBCIHX.png This morning, there are 1407 Strong Buy stocks of maybe 6,000 total. Looking pretty good for a day that will supposedly be flat. Step 3: Check for Unusual Option Activity. https://pic8.co/sh/EjPqOY.png Again, sort by volume. If you see something at the top of TradingView and something at the top of Unusual Option Activity, you will almost certainly want to be trading that stock, today. Today, options are telling me to play with SNDL and AAPL. However, I bought a few thousand dollars worth of NAK, at the top of the TradingView list, at 38 cents. So, this stock will be my primary concern, today. Generally, I sell half if I double my money, so I will likely be selling half of my NAK today. Step 4: Zero in on a stock. In this case, I'm liking NAK. https://pic8.co/sh/qgL8xG.png What I see, when I look at the chart, is that I need to sell most of my NAK if the stock reaches $1.85. I will hold onto a small amount, in the event that it moons to $18.00. The odds of it hitting $18 are very, very slim. The odds of it going past $18 are astronomical. The trading algorithms will test a previous high, no problem. A high from a while back is where they will test if it breaks that "resistance" line. I will be selling 100% of the stock should it get to $18. Point being, don't guess prices outside of the channels the algorithms will be trading in. If you are really terrible at the numbers, just set your sell limit .5% - 1% higher than your buy price. You'll get it in a day or two. Step 5: Time it right. Everyday, the stock market follows a similar pattern. https://pic8.co/sh/pmKXKG.png The best time to buy is usually about 11:30am, market time. The best time to sell is usually around 9:45am, market time, the next day. If you "Buy at Lunch" and "Sell in the Morning", you can usually narrow your trading time down to 1 hour, starting at 9am, market time, then come back for a half hour at 11:30am. An hour and half a day is reasonable, once you get rolling. It is a lot less, once you've automated the searches. Part of timing is also watching the S&P chart. If the S&P is rising drastically, instead of slightly dipping at 11:30, you are going to have to rethink your plan or simply do nothing. What you want is the S&P to be slightly dipping, at the same time as the normal trend (lifetime average of the market), AND for the stock to be slightly dipping, as well. THREE CHARTS, ALL DIPPING AT THE SAME TIME. - The S&P Chart - The Daily Average Chart (which never changes) - The Stock Chart https://pic8.co/sh/V4MF4w.png There is a little more flexibility when you sell, because you already know if it is in the money, or not. But, the idea is the same. Sell when the highs align. It's really that easy to get started. My main piece of advice for beginners is: DO NOT buy anything other than a "Strong Buy" (or highly rated across multiple platforms) and make sure the Yahoo Finance page shows a "Bullish" Stochastic and that "Short, Medium, Long" projections are all Bullish. If you buy a "Strong Buy" on TradingView, that also appears Bullish on all the Yahoo meters, you will make a little money every time. You may not make it in a day, but you will get your profit when the algorithms start back testing peaks. Bonus points if it is a dividend stock, because you will make money if you have to hold it. This strategy has yielded me a 99.9% success rate. It works because of "market irregularities", which is really representative of "price uncertainty". You just need to guess within a slightly more narrow margin compared to what the automated trading systems are guessing. What will happen, when you focus on these small daily gains, is that you will be sitting on 20 to 30 great stocks where one of them WILL spike. That is where I like to be. Like, today, I am sitting on NAK. It's going to be a great day for me and I'll only have to put forth 1 minute of effort at about 9:45am. Diversify your positions to catch those occasional leaps in profit. tl;dr The road to wealth is a slow, steady march. Do not fall for the tricks that Reddit's "WallStreetBets" are playing. There are plenty of good plays to be made, but they will naturally happen to you if you are day trading correctly. Once you start regularly getting 100 stacks, then options start to become an easier way to work with your equities. Just remember to keep your spreads in slightly more narrow than the algotraders. Edit: This morning sold TTT, BMBL, NAK, PZZA. Targeted 1% gains, did quite a bit better than that on each. I'm looking at BMBL again for the 11:30 buy. I think the price is outrageous, but the cabal is into it, so it may be another Beyond Meat. Edit 2: Buying AKRO, TRX, BMBL, AAPL. We'll check in with them, tomorrow. Edit 3: If you check the charts, you will see the prices of my buy time (11:00 market time) and how each of these charts went up a smidgen, after that. As I've mentioned; I'm shooting for a 1% gain each trade and that is where my sell limits are automatically set at unless I manually change it. This helps me not get greedy. I Made about $1 a share on BMBL, AKRO selling same day, beating 1% target. They since dropped. Made about .09 cents a share on TRX, meeting 1% target. It has since dropped. My worst was AAPL, where I also made about a dollar per share, but that is less than the targeted 1% gain within 24 hours. So, once again, we have a 100% success rate making a profit, though I was slightly under where I would have liked to have been due to AAPL.

(post is archived)

[–] • 1 pt

Can this be done reasonably with crypto as well? Crypto is so much simpler to get into. Plus personally, I have some. I don't have any stocks or much money to buy them.

[–] • 0 pt

Yes.

https://medium.com/galois-capital/algorithmic-trading-in-crypto-430431da1e0a

You might consider trying paper trading, first.

My experience is that algotrading crypto is approximately as profitable as algotrading forex.

Just eyeballing it and dipping in slowly, here and there, across multiple cryptos, has worked pretty well for me, as well. That's not a reflection on trading skills, though. I've been telling everyone to buy Bitcoin since the last big dip. It was kind of a "no brainer."

The real test is when the market is shit. That is why I fall back to the algotrading.

[–] • 1 pt (edited )

I am in a couple of the big chains with a distribution. Vechain, Dash, etc. Is till have a bit of btc (now worth quite a bit) available to trade. (I could buy a nice used car or a cheap new one with it).

In the past I would try to find a coin that is relatively flat... Not. Much going on with it... Then I would. Buy a predictible dip.. . Usually looking at the 30m charts... Then set a stop loss and a sell about 80% up the channel from where I buy.

I mostly broke even. On one now gone coin (ncash) I did great. Never managed to reproduce it though on others. I never did any algo trading but I could see the value of a 'trailing stop-loss' tool that would keep an ever-narrowing sell price chasing a rising coin.

[–] • 0 pt

Yes. Trailing stop loss by percentage is built into most platforms, as far as I know, but it is great when you have an algo to change it for you under certain circumstances.

[–] • 1 pt

Thank you. I'm getting in to play the market but with limited funds ($100) for the time being. Do you have any other tips or recommendations for particular low fund investors

[–] • 0 pt

With that amount of money, I'd probably start playing pennystocks, a bit. The risk is much higher, but so is the reward.

I started with $500 and worked up to $25,000 for day trading, then once it hit about $30,000, I started filling other trading accounts on other platforms.

Generally, I tell people to start with AT&T when it's $28 or under. This is a long term hold and won't make you very much, but it will beat most CDs.

If you want reasonable spikes, then wait for bad news for a good stock. Usually a lawsuit, or something. Buy the dip for larger gains than normal.

Look for a series of doom and gloom articles on the same stock.

There are enough pump and dumpers that you can easily ride a couple of Reddit pump and dump trains. I use /r/StonkFeed to monitor groups doing pump and dumps. Just be sure to get out before everyone else.

[–] • 2 pts

Thanks, I've been playing the penny stocks the past few weeks. What platform do you prefer, I jumped on robinhood, but got a day trading notification and that they'll restrict my account.

[–] • 0 pt (edited )

All platforms will have the same day trading rules as it is a government thing. Search PDT rule.

You need to maintain 25k or more in your account to avoid this.

If you can swing trade, buy today, sell tomorrow, that will help you avoid this. It's a major pain in the ass to deal with until you get over that 25k hump.

[–] • 0 pt

Day movement is random buzz and pure gambling. The people that make money long term do it following news and capitalising on predictable human reactions to it.

[–] • 2 pts

I average $2,000 per day, when I'm putting my mind to it. I've posted screenshots to the effect.

There are well established automated algorithms used in equities, crypto and forex that rely entirely on market irregularities.

I follow the news better than anyone and have a great deal of automation dedicated to tracking sentiment.

https://old.reddit.com/r/StonkFeed

https://old.reddit.com/r/ArrestsWeb

and literally hundreds of others that get databased and funneled into a "red light, green light" system for tickers.

I can promise you, based on all of that, the news is too slow. I am first to the news and it is still too slow.

Making big plays when there is a great deal of market manipulation happening is foolish. 100%.

Algorithms focusing on market irregularities and moving averages outperform sentiment traders because there is almost no risk. You only have to be wrong once, making big plays, to lose it all.

Not only that, once you've automated the trading, you can compound your money more than once in a day. So, if you are targeting a half a percent in a good market, you generally make much, much more.

When everyone was crying wolf about Coronavirus, last year, I was recommending people buy the dip (particularly Tesla) and I've got a pretty good track record in that I put my money where my mouth is. I do get on the Poalcast and state my predictions. I can't think of any times I've made a bad one. I got out of Gamestop at like $370.

But, ultimately, what I do isn't gambling. I'd say that is a horrible mischaracterization. I've got a family and bills to pay and I pay them day trading, at this point. What I'm recommending isn't gambling.

And, if you've done it right, the buy indicators will automatically steer you towards the ones that pop.

Let me ask... what strategies do you use? What is your process? How much do you make?

[–] • 0 pt

You said TradingView is free? Or is it a trail period. I can't see the ability to 'sort' must be once you make an account...

[–] • 0 pt

I have a free account, I think. I do not pay for any data ever, because I am frugal.

Now that I am testing it... I am not logged in and can sort. On PC.

Are you on mobile? Most stock sites are terrible on mobile.

[–] • 0 pt

Care to point out how long you've been doing this? That's the one thing that always irks me about the "it's so easy to trade" crowd.... they never mention the decade (and usually more) of time they put into it beforehand, or the helping hand of working institutional trading with a trainer, or anything Else that isn't disclosed but has led to the current position where "trading is so easy".

I'm on year 2 in forex, just moving out of paper money to real and using a "Simple Dance" strategy (price action indicators for trading the "bounce".) Running a small profit right now, but using small money too... there's a mental hump of risking hard earned money and I'm good with profits/losses in the tens of dollars right now. I'll grow that as my confidence grows.

I'm a long/hold on stock (though I did get in on the dip last year, found a good ~11% gain in 2 months). I just haven't put any time into learning it, taking forex, and specifically the EUR/USD pair, as my preference to learn.

[–] • 0 pt (edited )

I've been casually buying stocks for about 5 years. I started with $500 and slowly worked my way up to $25,000. Very, very slowly.

I didn't actually start regularly day trading until a couple of years ago, but it was still a fairly casual enterprise.

Last year, I took my tools for automating the news and scraping data, looking for corruption, and applied them to the stockmarket, building my own trading algorithm via a "Red Light, Green Light" system. The automation drastically improved my returns because of high frequency, low risk trading. However, the principles are the same as if one were to do it manually.

I've no education or training in finance. I do not work with anyone. I taught myself. My brother in law is a hedge fund employee and he disagrees with everything I say, but my portfolio far outperforms his. Mainly, because he actually takes time to read technicals and fundamentals and I just use scripts to read them for me and weight them accordingly.

Prior to last year, I made a few dozen trades. Last year, I made thousands of trades and only Lockheed Martin and Northrop Grumman have screwed me, so far. That's two trades of thousands and they pay a dividend, so it is not exactly a losing bet.

Institutional investors are operating on bad information nearly all of the time. They are molded to think a certain way, like lawyers or doctors or any other very educated professionals. Their mindset is such that they get pissed and annoyed at the success of laymen.

Forex is great, though my algo for forex shoots for very small gains... currently set at .25% to trigger.

I'm like you. I'm frugal. I seek only small gains... just very rapidly. I have a family and I view our money as ours and I don't make unnecessary risks.

I'm always cautious of the market being crashed intentionally, so I do branch out into crypto and precious metals to hedge against a crashed dollar.

If you are trading manually, price action indicators + sentiment indicators are pretty darn good for staying in the money.

My recommendation is that you learn all the different ways to trade. Everyone has a different personality and different trading styles appeal to different personalities. Exploring all of your options helps you do what you are doing, already, better, and will also help you hedge across more venues.

Personally, I find selling credit spreads to my liking. One, because I can look at a chart and visualize the spread very easily, compared to everyone I know. Two, because, after experimenting with it, I kept making more money selling the credit spreads than I was on the equities.

I generally try to hold an equity long term... at least one year... and will play with options to steer my profits the way I want, if it isn't going the way I had hoped. Manually, I find I get a bit lazy, which is why I use automation to set my prices and quantities. I try to sell everything at once, manually, where an algo will space out the sales temporally.

Oh... and watch out for shit like this...

https://i.redd.it/q3jxwu7ns1h61.png

See how he wants you to think $3? Maybe... but the chart is a bit of a trick. I see more like $1.85. Never try to outguess the moving average.