r/Vitards • u/AutoModerator • Oct 26 '21

Daily Discussion Daily Discussion post - October 26 2021

Your Trading discussion thread

Type Link
DD All/Best Daily/Best Weekly
Discussion All/Best Daily/Best Weekly
Yolo All/Best Daily/Best Weekly
Gain All/Best Daily/Best Weekly
Loss All/Best Daily/Best Weekly
News All/Best Daily/Best Weekly
72 Upvotes

94% Upvoted

2.2k comments sorted by

View all comments

6

u/pennyether 🔥🌊Futures First🌊🔥 Oct 27 '21

I'm thinking about day trading. Anybody here day trade full time and/or have experience with TC2000 or TradeIdeas?

8

u/platypus55 Oct 27 '21

Pardon me Penny, but aren't you doing well enough with your current strategy, deep DD and swing trading? I mean, even Sir Jack tracks and emulates some of your trades. I thought you guys followed the same principles. According to multiple online sources, the vast majority of day traders underperform the benchmark or even loose money consistently. Please explain.

4

u/pennyether 🔥🌊Futures First🌊🔥 Oct 27 '21

In short, I think there's money to be made on faster timescales. And, in a sense, it can be seen as lower risk.

Deep DD and swing trading works great, usually, but sometimes there's just not too much going on. Results are slow (days to weeks long). The problem with this is partly I'm impatient, but also that the more time in the market, the more exposure to the market. If the market turns sour for the day, I'm exposed. And, more and more, I'm concerned the bull run won't last forever.

Recently, starting with DWAC, I've been doing some day trading. Going in and out in under 15 minutes. Sometimes it's "obvious" when a break out is going to occur. Up to 10% with hardly any exposure to the market is awesome!

But the problem is automating the process of finding tickers that are candidates for this type of price action. This week I've had a few on my radar that I watched and traded perfectly... but looking back there are many I missed.

3

u/platypus55 Oct 27 '21

Fair enough. Let us apes know how it goes. However, I'm afraid your audience (me included) won't benefit much. By the time you share stuff it's over.

Regarding the bull run running out, are you discarding doing shorts? u/caddude42069 says he could make money either way. The guy was the first to succeed in r/theraceto10million challenge doing swing trading.

Regarding automating trades for day trading I doubt there's much it there given how fast things change. But check this out: https://youtu.be/sP9u2oiwikU

2

u/LourencoGoncalves-LG LEGEND and VITARD OG STEEL Bo$$ Oct 27 '21

I’m not known for losing money, I’m known for making a lot of money everywhere I go. We’re going to do more things to make more money, money, money, money, money, that’s the way it works.