Switching from scalping to swing. Suggestions?

[oliver777]

Dr explode, a very simple way to play options is with breakout stocks hitting new highs, but first confirm its in a good (hot) index.
One of the ways I choose is by starting with the hottest index for the month, this can be found via any brokerage firm (I happen to use E-Trade and Optionsexpress).
Once you find the hot sector, look for the breakout of the top one or two stocks in that sector. Go out one and two months (the longest), some options only trade on a quarterly basis, ex, Jan Apr, Jul, Oct. You will find these stocks have less volume and hence less liquidity. I tend to have liquidity as my final ok before entering a setup, if no liquidity, step away and find another setup.
Sometimes, there are no good setups, I tend to do one or two option trades a week, the fewest trades might be one or two a month.
Recently I jumped on NVDA, ADM, and NTES

best,
Oliver

 

[newbunch]

Trade futures. They've got enough leverage to make a mint or blow up your account real fast.

 

[StacyTrader1]

Papertrade futures first???

That's what I would do, but I stick to stocks strictly

Stacy

 

[Maverick74]

Quote from Dr_Explode:




The problem is, I need leverage, and I am not interested in putting anything more than 5k down, if that even.

Basically I just want some more freedom to branch out to different styles without having to contribute an exorbitant amount of capital.

Please don't take this the wrong way as it's meant to merely constructive criticism. But if anyone ever said to me what you just said here, I would politely tell him to take a long walk over a short pier.

You need to sound self confident about yourself. You are already preparing to blowout and your asking for money. Nobody cares what you are interested in, beggars cannot be choosers. You don't have the capital, we do. Don't come out making demands like this or someone might be a little more forthright then I am being right now.

You should always be willing to back up your talk with your own capital. It shows someone you believe in yourself and your abilities. You would be amazed at how far you can go in this business with a little self confidence. Stick your chest out, be proud of your returns and then back up your words with cold hard cash. Otherwise, good luck.

 

[bighitter1]

dr explode if you find anyone in america who'll let you put 5k down and even give you 50k overnight much less 100k overnight buying power without charging you huge fee's i'll take you to dinner. i've talked to every broker out there and outside establishing a relationship over a period of time and trust nobody's giving over 5-1 overnight. why would nayone give you 100k ovenight on a lousy 5k down. you could get a 9/11 and lose 1/2 there money for what 1k a month of overides. i'll sigh up tommorrow if you find one

 

[Maverick74]

Quote from bighitter1:

dr explode if you find anyone in america who'll let you put 5k down and even give you 50k overnight much less 100k overnight buying power without charging you huge fee's i'll take you to dinner. i've talked to every broker out there and outside establishing a relationship over a period of time and trust nobody's giving over 5-1 overnight. why would anyone give you 100k overnight on a lousy 5k down. you could get a 9/11 and lose 1/2 there money for what 1k a month of overides. i'll sigh up tomorrow if you find one

Jesus, I totally missed the part where he said he wants 30 to 1 or 50 to 1 overnight. Lord Almighty. Is it me, or is there something wrong with this message board. I mean who on God's green earth actually can ask for that with a straight face? So basically a 2% overnight move in a stock will blowout his account. I would love for this guy to come into my office face to face and request this with a straight face. I need to see that.

 

[murray t turtle]

Quote from Dr_Explode:

Any other options out there?

================
dr. e;
A disadvantage of options/futures, they are not as forgiving as stocks.

Something helpful in holding stocks till you make a profit[or cut a loss, ;
is study time frames longer than you plan to hold.
Like if 5-15 days turns about to be average hoilding time;
include many monthly charts , to help guard against premature exits.

DR. Explode, not sure exactly what you mean by your nickname.
Nicknames/names are important.

Wisdom is profitable to direct.

 

[Bitstream]

Quote from Maverick74:

Jesus, I totally missed the part where he said he wants 30 to 1 or 50 to 1 overnight. Lord Almighty. Is it me, or is there something wrong with this message board. I mean who on God's green earth actually can ask for that with a straight face? So basically a 2% overnight move in a stock will blowout his account. I would love for this guy to come into my office face to face and request this with a straight face. I need to see that.

he wants to experiment with diff styles, remember?
typical trait of those who found an edge and are consitently profitable..

very kewl indeed

ror

 

[jeffowy]

If you're going to bring up futures, might as well bring up forex as well.

Some brokerages will give up to 500:1 leverage.

Plus, there's always forex prop firms that will give 10:1 or more leverage on TOP of that leverage.


very technical market, good for swinging up and down. (don't have to worry about short lists!)

 

[Hydroblunt]

Quote from Maverick74:

Jesus, I totally missed the part where he said he wants 30 to 1 or 50 to 1 overnight. Lord Almighty. Is it me, or is there something wrong with this message board. I mean who on God's green earth actually can ask for that with a straight face? So basically a 2% overnight move in a stock will blowout his account. I would love for this guy to come into my office face to face and request this with a straight face. I need to see that.

lol, thanks for the laugh.

DrExplode:

Take the extra 5k, if you got it, open up a retail account with IB, OptionsXpress, MB Trading (if the allow) or even Ameritrade or Etrade. Get the 2:1 leverage, suck it up and start swing trading. If you have any skills, you should be able to make 20%+ in year. If you're good, you'll double the account. Once you get some actual experience swing trading and conviction, you will put in more capital and grow more.
Unless you find someone else to back you, no way you will even get even 30k overnight BP with 5k down. Most swing traders trade on 2:1 margin anyway, for the protection of capital in case of unexpected news.