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Thread: MDawg's Stock Investments and Trading

  1. #11
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    Caught the low again (damn! I'm good), for 7 pts this time. Sold much too early of course, but...safety first!
    Click image for larger version. 

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    Last edited by MDawg; 09-17-2020 at 10:16 AM.

  2. #12
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    Tsla is actually doing all right, keeping its head above 400 (adjusted 2000, pre-split). AMZN is the real killer, dropped 550 pts from its high.

    Not so bad, could be worse.

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    You stated that you traded without spreads without a broker, whereas we can clearly see bid/ask price showing a spread on the AMZN share...........

  4. #14
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    There is always a bid/ask? What do you mean. These screenshots show the executed trade, and then the screenshot also happens to show whatever the bid ask is at the moment the screenshot is taken.

    I may have said that I don't use a broker as in a human executing my trades on my behalf, but everyone whether using eTrade, TDAmeritrade or even RobinHood (never touch the stuff), uses a "broker." Brokers are crooks - when someone says that, he means that he does his own trades, is all.

  5. #15
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    TSLA doing quite well again (considering the downturn TSLA has been kicking a**). AMZN sucking again today. After we weed out the weak hands AMZN will go back up though.

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    Ok, what technical indicator(s), what timeframe (1min,5min,15min....) do you use for your daytrading like the long position on the AMZN stock?.

  7. #17
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    It's interesting that you say that, because a friend of mine who used to trade far more than I ever did, used to say that the less intelligent, less thinking traders do better than the ones who overthink. I'd like to consider myself as a very intelligent, very thinking type, but honestly all I do is just look for the first big dip of the day and jump on it when I think it's gone low enough. Early in the trading day the stock has more "elasticity" is the term I give to when traders are still buying the hell out of the dips - later on, if the stock keeps dipping, it tends not to spring back up so quickly. So, it's not so much about buying at some mechanical pre-set price, but buying, as Jesse Livermore used to say, "when the price is right" - meaning, more accurately, "when the time is right." For example buying AMZN at 3020 today might be a better TRADING buy than later at 3000, if the stock is still being bot up at 3020, but at 3000 people are on the verge of giving up on it.

    If the given stock is simply going up that day, not really dipping, then I generally don't even trade it at all, because all the stocks I trade such as AMZN I hold underlying long term long positions, so on the days it just flies up I just watch my long term shares go up.

    So I, like millions of others, am a "buy the dip trader."

    Yes there's a lot of technical stuff like charts, where the market is at, and so on at the back of my mind, but mostly I just jump on dips.

    I am basically a bottom feeder scalper when it comes to trading, I try to buy well below whatever the low for the day has already been, and then let go for just a few points, generally not more than 10. I leave a lot of money on the table much of the time, but this sort of scalping also saves me from getting stuck in a losing trade.

    One very unscientific but actually pretty sound trading principle is to look for when a given stock drops below a multiple of ten level. For example, AMZN dips below 3020, AMZN dips below 3010, AMZN dips below 3000...for whatever reason it is a well known phenomenon that these stocks hit support as they approach these multiples of ten, and then jump right back above that level, even if only briefly, if they dip a couple points below. A lot of traders jump on 2 points below that multiple of ten (e.g. 3018, 3008, 2998) but I try to go for even lower, more like 3 -5 points below...I miss a lot of trades but the I also get stuck less. But of course, if you're trying to do this jumping on each drop of 10 (so to speak) on a day when the stock is destined to drop 100, you'd better be nimble, or wait it out until the dust settles.

    If I really get stuck, I wait until it has dropped quite a lot more, and then average in more shares and set a new sell price somewhere above the new averaged in price. I haven't had to average in any more shares on my trades in a while.
    Last edited by MDawg; 09-18-2020 at 06:28 AM.

  8. #18
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    See like right now AMZN dipped to 2988 and then jumped to about 2995, just like a reflex. However in this instance a 2988 would not have been filled because it didn't quite get there. Some traders will jump all over just 1 point below that ten point level, in this case 2989.

    Once it hits that new low though, I will not try to hit that same low again, I will go for even lower...take it or leave it.

    So, given that the low for the day at the moment is 2988, I wouldn't touch it above 2985 right now for a scalping trade. And so it goes, as I try to bottom feed at new lows for the day. Eventually of course the stock will recover and my trying to get that low will get me nothing, but that's okay, I try to get high probability trades or nothing at all. I don't need to trade.
    Last edited by MDawg; 09-18-2020 at 06:33 AM.

  9. #19
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    So I put in the order at 2984, bottom feeding, and got a partial fill only.
    Click image for larger version. 

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    Once I got the partial I cancelled the balance to see what might be going on. As it turns out, I should have left it open, as the 3 pts I was seeking were more than there. A small trade, booked a few hundred, and on to the next.
    Attachment 359
    Last edited by MDawg; 09-24-2020 at 12:17 PM.

  10. #20
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    Over all AMZN is out of favor at the moment, too many people (like me) seem to be trading it for quick gains and not holding on.

    As you may see, my first trading idea of the day was to buy at 3018. I cancelled it, did not go through with it, but at the TIME that 3018 was an AWESOME idea as once it filled it popped up almost 10 pts. to 3028. Yes, looking at it now at 2979, 3018 looks terrible, but as a trade, at the TIME, that was a better trade than right now at 2979.
    Last edited by MDawg; 09-18-2020 at 06:46 AM.

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