Timing

For a fresh person, AMD is like a Normandy Landing, only in markets. Recent few days - an example.

Previous members gave honest-great insights, still if you're not one of those, who give up so quickly, here's a little bit more :

https://www.elitetrader.com/et/threads/where-do-i-learn-day-trading.328291/page-2#post-4796833

Best of luck V.

p.s

And raising 3 years old, that's a challenge in itself :D

001-animals-vs-kids-little-boy-chased-by-chickens.gif
 
%% Yes VT23;
but one of the best ways is enter in the day+ let the profits ride. Like profits ride, for weeks /+ ?? Sure; but that profit is not as much fun as as being an action addict.
AMD is a good pick @ least it has been;
up 82% YTD.
The good news is you are like me, when i started-you proved the markets are NOT random.WE WERE much , much worse than random. IBD founder uses $8 stop for a $24 profit as a guide.Sharp shooters maybe get by with less than 3% ; but for me to make a profit, risk $8 to make $24 is a good guide for AMD also. I do more stuff like QQQ..........................................

It worked even better when AMD was $8.00 but try NOT to risk 100%[$8] to make $ 24:cool::cool:,:cool::cool::cool::cool::cool::cool:
Tell me again how you determine your profit target of $24 for AMD?
 
Other than experience, is there a way to increase my skills at timing the trades for day trading? I'm about 6 months in to my very unprofitable trading career and I keep executing the same issue... I'm picking the right stocks and buying, they end up correcting or reacting and hitting my stop loss at 3% and than shooting up so i "usually" miss out on the uptrend. is there any way to correct this? It happened twice to me today on ENPH and AMD

Buy at pullbacks on an uptrend. Then your stop loss can be tighter.
 
ill try and figure out how to do that thanks!

If you are using Linux or Windows, look and see if there is a "PrtScr" key on your keyboard. That's the quick and easy way. No apps required. Then if you want to redact stuff like account number etc you can just blop it out with an image editor. Not necessary, though, IMHO.
 
Other than experience, is there a way to increase my skills at timing the trades for day trading? I'm about 6 months in to my very unprofitable trading career and I keep executing the same issue... I'm picking the right stocks and buying, they end up correcting or reacting and hitting my stop loss at 3% and than shooting up so i "usually" miss out on the uptrend. is there any way to correct this? It happened twice to me today on ENPH and AMD

There's no way to fix this because you're not posting enough info to reveal the entire story involving your trade decisions.Therefore, its impossible to know if its a psychological problem or a strategy related problem.

In 6 months of trading, you should already be keeping statistics about your trading even if its just basic info like symbol name, entry/exit price & time, duration of trades, chart time frame used of your trade signal and such.

Heck, you should already know how often (%) this happens when you say my 3% stop is hit and then it shoots back up.
  • How many trades have you taken so far in these 6 months ?
  • What's the % of your trades so far in these 6 months such has happen when they go back up after your stop has been hit ?
Simply, you're now in the camp of trying to post info at a forum via the fewest words as possible while asking for help with your trading. Good luck with that.

wrbtrader
 
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they end up correcting or reacting and hitting my stop loss at 3% and than shooting

Maybe the trading environment had bigger ranges than 3 %? Wait until calmer ATR. Just a suggestion.
 
My assessment of your situation is that you are not a good fit for day trading and should just buy an index fund and long term invest.

I based my assessment on your question which says quite about about you - most of it negative:

Other than experience? How do you expect to learn except from researching and experimenting, and gaining experience from those efforts? What you're really asking for is some type of quickly learned "gimmick" that will magically unlock the "timing code" and give you great entries and exits.

It shows you don't respect the difficulty behind day trading, and think it's something that can be gained without much effort. You must not have done any research into it at all since then you would see the high failure rates of those who attempt this profession.

It can take many years to master day trading, if at all. And yet you seem surprised that you're not immediately successful after a mere 6 months.

I bet you're never practiced on a trading sim account and just jumped right into it with your own money. Do you have a trading plan for the best time to enter, what your profit targets should be, and the best place to put your stops? Have you tested your plan on a sim before using a real account? Are you taking lots of notes of what parts of the trade you got right or wrong, and what the possible solutions might be?

Does it sound like day trading takes a lot of effort and time to master? That's because it does. And if you were so fortunate after putting in those hard years of trial and error until you crafted your own working trading plan- would you be willing to just share your plan with someone looking for shortcuts that could jeopardize your plan from working in the future? Likely not, which is why you shouldn't expect anyone who has put the time in to just hand you information that you likely wouldn't understand anyway because it's not a "gimmick" but based on knowledge of price action behavior that you can only get by experience over time.

Professional day trading is one of the hardest careers you can choose. Unless you have someone in your family that is a successful day trader, you are going to have to mostly figure it out on your own, which as I said could take years and even then many fail. There are no short cuts. You really should take the time to count the costs and take a serious assessment if you want to proceed.


I agree with the sentiments of your advice to the OP but you present trading as comprising day-trading only. For 90% of new traders reading this forum day-trading will never make them any money.

But long-term investing is not the only alternative to day-trading. I have always traded off the dailies. Almost every trade I've ever made has been opened via entry orders. Forces the trader to plan ahead, think through their strategy, learn self-discipline. It is profitable but also teaches the skills which a few go on to use when they gravitate into day-trading, except this group is now of experienced traders not newbies.

Votke2310 - give up day-trading until you're a consistently profitable long-term trader. Forget long-term investing until you're wealthy (from trading).
 
Other than experience, is there a way to increase my skills at timing the trades for day trading? I'm about 6 months in to my very unprofitable trading career and I keep executing the same issue... I'm picking the right stocks and buying, they end up correcting or reacting and hitting my stop loss at 3% and than shooting up so i "usually" miss out on the uptrend. is there any way to correct this? It happened twice to me today on ENPH and AMD
Using a stop loss of 3% seems pretty arbitrary, unless I guess your stats support that. Consider using price action, setup pattern and technical support-resistance levels/areas to set your stops instead. Maybe it's not so much about "timing" as it is about your stop selection.

Also, consider using MAs for timing. If you determine which MA the trend appears to be most closely conforming to (i.e, "riding"), then in general, the best entries occur when price is at or near the "controlling" MA. The MA should also be sloped in the direction of the trend you seek to capture, and should be positioned relative to each other ("stacked") appropriately.

Finally re: timing -- avoid entering when the trend is "extended." On your primary trade timeframe, one way to help assess this is to generally observe how many consecutive green or red bars have occurred prior to your entry... as well as their relative sizes and corresponding volume. If you're taking entries that are consistently after say, ~ 3 or more average-sized bars have occurred in your direction... and/or if the recent bars are large ("wide range")... and especially if the wide range bars (WRBs) are associated with exceptionally high volume (relative to prior volume) -- then it's likely that the trend is temporarily extended/exhausted, and likely to reverse short-term. For pullback entries, you'd generally prefer to see a brief series of countertrend bars with correspondingly low/decreasing volume, and no extreme WRBs or unusually high volume.

Maybe try looking at your entries relative to the two prior criteria I mentioned, and see how they compare. Also, look at where/when the "ideal" entries occurred (in perfect hindsight), and also compare them to those criteria. Perhaps you'll notice some patterns or tendencies.

Good luck!
 
Using a stop loss of 3% seems pretty arbitrary, unless I guess your stats support that. Consider using price action, setup pattern and technical support-resistance levels/areas to set your stops instead. Maybe it's not so much about "timing" as it is about your stop selection.

Also, consider using MAs for timing. If you determine which MA the trend appears to be most closely conforming to (i.e, "riding"), then in general, the best entries occur when price is at or near the "controlling" MA. The MA should also be sloped in the direction of the trend you seek to capture, and should be positioned relative to each other ("stacked") appropriately.

Finally re: timing -- avoid entering when the trend is "extended." On your primary trade timeframe, one way to help assess this is to generally observe how many consecutive green or red bars have occurred prior to your entry... as well as their relative sizes and corresponding volume. If you're taking entries that are consistently after say, ~ 3 or more average-sized bars have occurred in your direction... and/or if the recent bars are large ("wide range")... and especially if the wide range bars (WRBs) are associated with exceptionally high volume (relative to prior volume) -- then it's likely that the trend is temporarily extended/exhausted, and likely to reverse short-term. For pullback entries, you'd generally prefer to see a brief series of countertrend bars with correspondingly low/decreasing volume, and no extreme WRBs or unusually high volume.

Maybe try looking at your entries relative to the two prior criteria I mentioned, and see how they compare. Also, look at where/when the "ideal" entries occurred (in perfect hindsight), and also compare them to those criteria. Perhaps you'll notice some patterns or tendencies.

Good luck!
that was awesome advice thank you!
 
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