Any Day traders here???
- Thread starter bigtyguyy
- Start date
tangman99
Active Member
Not as defined by the term. I'll buy a stock and flip it in a couple of days and sometime the same day, but only if it hits a target price, not because the day is coming to an end.
I work a full time job, so I don't have time to actual day trade. Not sure I would if I could. I do pretty good with holding a couple of days, but not sure about watching stocks minute to minute.
I work a full time job, so I don't have time to actual day trade. Not sure I would if I could. I do pretty good with holding a couple of days, but not sure about watching stocks minute to minute.
tangman99
Active Member
Can't say that I have. To be more accurate, what we do is referred to as swing trading. That is holding a stock from 1 to 4 days. Daytraders buy in the morning and are always in cash at the end of the day. I had a few friends that were serious daytraders back when it was popular in the mid to late 90's. Most lost their arse. It's a hard game to play well consistently.
I don't tend to take advice from any forums when it comes to stocks. Too much incentive to pump and dump. I do subscribe to 2daysholdings which did pretty well for me last year, but I take their method and have personalized it some to give me better returns than they get. They are not doing too well so far this year but the first real earnings are kicking off for this year so they may pick up.
I have some play money that is about 2% of my portfolio that I use for swing trading. Right now I'm down about 2.5% for the year. Last year I finished the year with a 72% return so it was a good year.
I don't tend to take advice from any forums when it comes to stocks. Too much incentive to pump and dump. I do subscribe to 2daysholdings which did pretty well for me last year, but I take their method and have personalized it some to give me better returns than they get. They are not doing too well so far this year but the first real earnings are kicking off for this year so they may pick up.
I have some play money that is about 2% of my portfolio that I use for swing trading. Right now I'm down about 2.5% for the year. Last year I finished the year with a 72% return so it was a good year.
tangman99
Active Member
Originally posted by dicemanj
hey tang, 2days has struggled this year. Like you said last year was much better, hopefully the June earnings will bring better picks.
dicemanj
Hey Dude! How you been? Yeah, 2days has not done well. I'm not sure what's been going on. Just some bad luck I guess. They have kicked some butt over the last couple of years, so I hope they pick it back up. I'm down but not as bad as them because I've been buying lower then them and I occassionally hold a little longer then they do and sometime I'll dump it on day 1.
bigtyguyy: I'll check out the board and give it a look over. I don't do IM as I never have the time. Thanks for the link. You never know what you might find.
tangman99
Active Member
Originally posted by bigtyguyy
you have any regular swing stocks you do?
Not really. DicemanJ and myself both subscribe to 2daysholdings so we swingtrade their buy recommendations. As we were mentioning, they have not been doing too well this year. I'll rebuy them a few times if the Technical Analysis points toward them being a good buy again.
I have been swing trading Winn Dixie lately. It's a little risky as they filed for bankruptsy protection and are now listed on pinksheets. They are right at a buck. I bought some at .65 and sold at .95. I'll get back in if it hits high 80's again and hold a little longer this time. I don't put too much in it though. Only about $3000.00.
bigtyguyy
Member
i just got into MSEP. 0.022 i have been swinging this one a few times but i have been reading and looking at the charts on this one and the charts look really good now with it hitting a double bottom and had a long consolidation period at these to points. We are expecting it to gap open on monday and should hit between 0.04 and 0.06. If it breaks its trend average this one is gone! I play with about the same about as you! check out msep and do your own DD on it and tell me what you think!
tangman99
Active Member
I'll take a look later tonight or tomorrow if I get a chance. The only problem I have with penny stocks is that the MMs will really screw you with them at times. You can buy HI and sell LOW all day long, but sometimes it's hard to buy LOW and sell HIGH because they won't push the orders unless the spread is wide enough that very rarely happens with penny stocks. Another thing about penny stocks that kill me is the amount of shares that I would buy to make it worth my while. It's darn hard to dump that many shares in a time window sometimes.
I've only been trading 3k on Winn Dixie because it is in bankrupt status and it may go down and stay down or go out. When I swingtrade, I only buy good companies that range in price from $15-$80 a share. For these, I buy as much as 50K in one day sometime using margin. I usually try to get between 3%-5% return in the next say or so. It's adds up really quick but it's flies away real quick if make a bad buy.
I've only been trading 3k on Winn Dixie because it is in bankrupt status and it may go down and stay down or go out. When I swingtrade, I only buy good companies that range in price from $15-$80 a share. For these, I buy as much as 50K in one day sometime using margin. I usually try to get between 3%-5% return in the next say or so. It's adds up really quick but it's flies away real quick if make a bad buy.
tangman99
Active Member
Just checked out MSEP. It has a pretty interesting chart. This is just my opinion. The Relative Strength is pretty good and MACD looks really good also. The volume is not showing a lot of support though but the candlestick does show a good sign. If you get a good volume kick on Monday it may go up, but my guess is it's going to hit a resistance wall around .03 to .034 and will not get through that unless it has a lot of buying support volume. If not, it will most likely sell of and close back down around where it is now or even challenge it's support at .02. If it does not find support over the next couple of days, it will probably fall through the .02 and settle around it's old support of .015.
Now I'm basing most of my opinion on a major index stock as that is where most of my experience lies. You never know with a penny stock, but looking at it historically it appears to act very similar.
As to sites, I do not frequent stock picking sites or belong to any stock boards. I've looked at many over the years and my opinion has been that there is no one or group of people that can give me enough guaranteed buys to make me money. The trend seems to be you can make some money at times, but sooner or later you are going to give back a huge chunk if not all your earnings. My method historically does the opposite. I buy very good stocks that tend to give me a nice return in a couple of days. With the good comes the bad as in playing blackjack. You can't win every hand, but if you win more than you lose and you hit a few double downs and splits, you will make money. The secret is having enough money to make the 3% return be a nice amount. It is a true statement that it takes money to make money.
Good luck tomorrow with your MSEP. I'll watch if for a few days to see if I was even close. I make no claims that I will be
Now I'm basing most of my opinion on a major index stock as that is where most of my experience lies. You never know with a penny stock, but looking at it historically it appears to act very similar.
As to sites, I do not frequent stock picking sites or belong to any stock boards. I've looked at many over the years and my opinion has been that there is no one or group of people that can give me enough guaranteed buys to make me money. The trend seems to be you can make some money at times, but sooner or later you are going to give back a huge chunk if not all your earnings. My method historically does the opposite. I buy very good stocks that tend to give me a nice return in a couple of days. With the good comes the bad as in playing blackjack. You can't win every hand, but if you win more than you lose and you hit a few double downs and splits, you will make money. The secret is having enough money to make the 3% return be a nice amount. It is a true statement that it takes money to make money.
Good luck tomorrow with your MSEP. I'll watch if for a few days to see if I was even close. I make no claims that I will be
bigtyguyy
Member
The thing about market millioniares is that it doesn't have picks that everyone buys into and ---- like that. It is just like you and me are doing now. Just chatting about stocks.
Msep had a nice little run today but it had idiots selling on the big and big wacking, which slowed the momo down on it at around the .0295 area. Your right about volume. It needs about 4 to 5 mill to start moven. Keep an eye on it!
Msep had a nice little run today but it had idiots selling on the big and big wacking, which slowed the momo down on it at around the .0295 area. Your right about volume. It needs about 4 to 5 mill to start moven. Keep an eye on it!
tangman99
Active Member
Well, I called it pretty close. It opened up an immediately challenged it's resistance which trigger a bunch of sell orders. The volume of buys was not enough to get through .03 and it settled down and bounced around for the remainder of the day to close just .0005 above yesterdays close. I give it 2 more days to break .03 and close above that or it could be heading back down to .015. It's going to take a 10 Million + volume day of significant buying to accomplish that task. It can definitely happen based on it's history, but I'll watch from the sidelines and see what happens.
Again, My opinion only. Good luck to you and watch it close.
Again, My opinion only. Good luck to you and watch it close.
bigtyguyy
Member
hahaha i pulled the trigger and bailed at 0.024. my average is higher then i wanted so i took the profit and walked. Im kicking my self for not selling at .029 but no one can predict the market. ---- i am starting to think that you may have it right. look at this chart of it * Link Violation *
you might be right i have put in the trend line and it looks like she is following her. Tomorrow will tell the rest of the story!
hahaha
you might be right i have put in the trend line and it looks like she is following her. Tomorrow will tell the rest of the story!
hahaha
tangman99
Active Member
Good for you! It's alway a good day when you can a profit. Selling is the hardest part of the game. It's 10 times as hard to know when to sell vs knowing when to buy.
This thing still has a chance, but it's looking worse every day. At best, it might run flat for a few days, but looking at todays volume, I give it one more chance tomorrow to make some ground or I think its heading back down below .02 before weeks end.
This thing still has a chance, but it's looking worse every day. At best, it might run flat for a few days, but looking at todays volume, I give it one more chance tomorrow to make some ground or I think its heading back down below .02 before weeks end.
bigtyguyy
Member
i have been posting yours thoughts to a pro friend of mine and he would love to have you opions posted in Marketmillionaires.com its just a chat about stocks not buying points or selling just a chat like what you and me are doing. He would love you to post some of your knowledge.
what do you think about just trying it out or looking at the site?
what do you think about just trying it out or looking at the site?