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Thanks Coach! Not sure how to answer your next question in other terms than the aforementioned EMA system. Gimme a hint what you’re hinting at?

Go short when the EMA crosses below the SMA on the second red “Trigger” candle and set your stop at the nearest previous high?!?

Tell me if I’m right first! Proportionally it’s not close to the 1.25% rule of thumb I was pitching earlier but situationally seems wise because if it breaks that level it’s broken resistance right?

Green arrow is where I’d short and redline is stop loss at previous high to avoid any chance of higher highs

If I’m understanding right the red line is my stop loss

Well after the EMA has crossed over, I'd buy during the second green candle, say around 130.3. That's been my bread and butter so far. Knowing me, after that short upswing, I'd sell during the second red candle when it comes down to about 130.6, mainly because I don't like what I'm seeing in...

Hm, I'll look into that. That's another thing I haven't tried to figure out yet, reducing or increasing positions. I tend to just open a position then close it, then reassess.

I did my very first short last week, pretty brutal debut, shorted NVDA based on what I thought I understood in the technicals when the news broke of the chip shortage. Not exactly a lucky day to try it out. That's one of the 3 clusters from last couple weeks I was referring to earlier. But...

How do I read the candles accurately if you flip the chart upside down? Three white soldiers trending downward on the left lol??

Not sure I follow what you're hinting at, easymon?

I didn't make any moves on that particular chart, but the way I'm reading that kind of situation at this point is wait for the 9EMA (purple) to bottom out and cross back over. Once it does, if the first two candles are bullish and the RSI isn't severely overbought and the volume isn't flagging...

I posted my warroom in the other thread, but this post has me curious what your preferred indicators are and why? Promise I won't challenge you to a zoom duel if you tell me ;)

Yeah that makes a lot of sense. I think I'm gonna try 1.25% for awhile with my larger moves, and then more like 2% if I'm doing a smaller move on a more volatile stock. But I'll start comparing this to standard deviations and look into using ATR too, been meaning to work on that anyway, thanks...

I totally get the need to back test and to paper money for a good while, but I'm also more of a learn by doing person, and I'm also in my 40s, so charting for 20 years before I put any money on the line isn't doable for me. Anyway, I was still a good bit ahead until these past few weeks, these...

That's what I keep telling myself, that these were unlearnable without getting punched in the gut and going thru it first hand or having some guru to chew me out before they ever happened, which I don't have. In my main line of work, academia, nobody is interested in this world at all. It's...

Do you mean how many positions am I doing per day? Usually no more than 1 or 2. I watch about 12 companies premarket. I still really struggle to have a good sense of entry/exit points still, so I'm heavily reliant on EMA crossovers for that. Also still pretty hopeless at scanning for stocks...

Thanks, that's another good point. I've learned. Expensive lesson unfortunately, but hopefully I'm hitting at least 2 or 3 to 1 on my plays for a while. If so, I can recover those losses in a couple weeks. I basically chased after the first loss, leading to 3 of them. Embarrassing to admit...

Thanks Everybody! These are all very helpful in their different ways, appreciate the detail too. I'm just watching today, trying to calculate on the fly, and see how often I'd get stopped out. Seems like a shade above 1% might be a sweet spot, 1.25% or something, and then shrink that once you...

Don't know if this makes me stupid or smart, but I'm so expecting one of those flash crashes that I'm only day-trading right now. Everything seems so damn inflated to me that I'm trying not to hold any positions overnight for the time being. Really solid companies like NVDA have PE ratios of...

Another rookie question from yours truly, a three-parter after I just took the 2 dumbest losses in my very short trading career this week alone, I finally realize that I need a stop loss system that I just make ironclad and execute automatically. So for day trading, I'm wondering the following...