TRADING


Budgeting Bro

Updated May 30th, 2021

Gurus/Lessons

One of the thing I love about trading is that, if you can make it work, it scales very easily. If you can consistently make $100 a day then it’s easy to add another zero. Teach a man to fish right? Good luck trying to consistently pull money out of the market though right?

I have the Fibonacci set up to quickly find 2.5x trade setups. It essentially uses -16.5 and positive 16.5 and 1. So you got a risk of 33 and the high end of 83.5 means that at a minimum you’re going to get 2.5x And that’s if you bought it the worst case just on the edge of the buy zone.

So I wanted to go short the market on May 12th and I deposited some funds but I didn’t have any option buying power I was literally hitting buy on the September 337P when SPY was at 411.90 for an entry price of $490. By the end of the day this was worth $637 so I would have made $147 in one day. Instead I bought a 3X inverse SPY ETF which is actually a NASDAQ 100 short in verse 3X ETF then these are intraday vehicles not meant to hold You get crushed on these derivatives as the managers like work their magic to make this be a hedge. I went long 40 shares at 12.608 at 9:42am when the SpY was at 411.70 and at the end of the day this thing was you know up to 1306 a share but I made like 18 bucks. By the next morning I had given it all back anyway. The options can be tricky but when you don’t have a lot of capital it’s a good way to of lever up and make it worth your while at least.

How to Make Money in Stocks: William O’Neill

Most investors have never studied charts, and of the few who have, many may think chart reading is some kind of Ouija board-type technical witchcraft.  What the masses believe about the market, however, is usually completely off.
It’s all the little important details you learn by repeated study and observation that add to your knowledge and skill and make the difference between succeeding and almost making it in the investment world
Plot out your mistakes on charts, study them, and write some additional rules in order to correct your mistakes and the actions that cost you money.
When everybody is running around saying how great a stock is, then everybody who can buy probably already has, and the only direction for the stock to go at that point is down.  When it’s obvious and exciting to everyone, it’s too late!   

Tim Morge

Retail traders are traders with under 10 million bucks.
Median Lines are a leading indicator
ML’s have mathematical probabilities associated with them
you must learn simple entries which allows us to have small stops
You must use solid money management
we don’t want to stomach 100 pip stops
Learn to read market structure! Use it to your advantage
SURVIVE: sell on rallies and buy in areas where you know the big boys are doing there business
The SPs need to be open for an hour to get any meaningful market structure
Research the Ensign program: cost and features

Darvas

Other:

Brian Shannon

Stockscores

Rem of a Stock Operator,

Pit Bull: Lessons from Wall Street’s Champion Day Trader etc.

Big Charts

Ivolatility

Datek becomes TD Ameritrade;

IBFX

Telechart

Kirk Report


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