Im in UWTI. Oil ETF has based and found a floor. Going to move up slowly. Good luck!!
Im bullish this week for gold but bearish for the overall market. Looking at my favorites this week TVIX, UVXY, NUGT and JNUG.
wondabrasjg Nov 10, 14 1:34 PM
Evening Ray, can i ask how you selected these?
nydog Nov 12, 14 8:41 AM
Hello. During the weekend, I thought the market was up too high so I thought the market would reverse. I was wrong. Market may go down today but its still in bullish mode so I wouldn't hold short etf's overnight. SPY has touched resistance line but it needs to go up a bit more and retrace below the support line before a major pull back occurs.
nydog Nov 12, 14 8:41 AM
I do think gold this week is oversold. Im in NUGT this whole week but unsure about next week.
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I learned today to finally trade an earnings winner that Tim Sykes teaches. I noticed FTR beat earnings expectation but it tanked because the earnings was less than a year ago. But FTR still beat expectations! So I bought the dip and then FTR went up later. nice profit!
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@nydog keep posting your thoughts , they are very useful - thankyou!
nydog Nov 05, 14 9:06 PM
Hello Spacerunner. Im a newbie so follow my thoughts with a grain of salt..lol. Nevertheless, Dow broke record highs today and the SPY has had a long run up. Im looking to be bearish again towards end of week or early next week because the SPY can't go straight up. Look at SPY chart. Im watching TVIX or UVXY for a bottom.
nydog Nov 05, 14 9:09 PM
Im also watching gold prices to hit bottom. When gold goes below $1000 an ounce, I may buy JNUG or NUGT.
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I learned today that I should limit myself to only 3-5 trades a day and stop when Im up. If I overtrade, I end up losing my gains.
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nydog Oct 26, 14 10:19 PM
Hello cbull. I started out with $25K which is the minimum to not be restricted by brokerages from trading as many times as you want. I started trading mainly oversold stocks and buying the bounces and it was easy in the bull market 6 months ago. It's not so easy to do it now. I have traded break outs when stocks go past resistance but you have to be quick to sell once you profit because many shorts see the breakout as an opportunity to short since the stock will be at a high. I try to buy
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I learned today to finally use a stop loss after I lost quite a bit of money yesterday. I use TOS. If you are long, click on sell. Then click on Stop Market. Then I put in the price I want to put in a stop order. My stop price is probably the support line price or the Moving average line. Usually, when a stock dips below a support line, a lot of stop losses are triggered and this causes the quick downward movement and sell orders.
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Raylbc27 Oct 16, 14 11:09 PM
The only scary thing about stop orders is the disadvantage is that the stop price could be activated by a short-term fluctuation in a stock's price. Sometimes when i was using Etrade the stock would drop so fast sometimes my order sometimes didn't get filled/stopped out and i ended up losing more.. I prefer just to watch all my trades live.
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sykes_next_millionaire Oct 16, 14 11:28 PM
Absolutely, stop-losses can be disadvantageous if you don't set a gap large enough to accommodate for natural fluctuations. Burned me a while back, thought I had made over 150% to find it had dipped just under my stop loss early in the day so I lost money. Definitely an "aaargh" moment.
nydog Oct 17, 14 11:28 AM
yes. I definitely understand and that is why I never used stop losses before. However, If my stock has gone up $1...definitely have to put a stop loss 20 cents below. I wont put a stop loss until Im up over 50 cents and be happy with small profits.
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Do NOT buy UVXY or TVIX this week. Be bullish til Friday.
I learned today there is a huge day trader convention in Vegas on Nov 19-22. It's free and I registered. Here is the link: http://www.moneyshow.com/tradeshow/las_vegas/traders_expo/expert-details.asp?speakerid=1001381SPK
I learned today that there is no hoping in day trading. If you are hoping., you are gambling. When I saw TWTR fall below the support line, I was hoping it would bounce and shorts would cover since it was 3:30pm on a Friday. Nothing . Should have put a stop loss. Also, I should stop making trades on phone without checking on my laptop using everything I learned. Also, should stop trading while driving or working. ITs ok to miss out. Also, I have to stop over trading. Was up already a lot. Should be happy with just $500 a day, and not worry about making thousands a day. Also, since I do this for fun, I should trade only when Im enjoying it and not pushing myself to trade when I feel strained or tired. Just like working out, I enjoy it when Im fresh but on days I feel bad or tired or beat, I don't work out.
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wondabrasjg Oct 12, 14 12:20 PM
I love your words of wisdom. I write a lot of your thoughts down. Thanks mate
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I learned today to be patient. If you miss a trade today where you shoulda or coulda made money...there will always be another opportunity tomorrow. Let it go and move on. Also, sometimes you have to wait a long time until a stock hits a certain price that you feel will be a good buying or shorting opportunity. Its funny that this long time could mean days, weeks or even months.
uwti
Looks like a good pick!
I sold UWTI today.
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