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Author Topic: Do any of you day trade for your living?  (Read 2437 times)

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Re: Do any of you day trade for your living?
« Reply #30 on: October 04, 2022, 12:09:55 PM »
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  • I like charts that show price is lower on the left side of the chart and higher on the right side of the chart. To me, that is one ugly chart.
    Sounds like you're not interested then. Maybe in a month it'll look different but, then again, it's the stock market so maybe not?  lol

    Any killer picks to share?

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    Re: Do any of you day trade for your living?
    « Reply #31 on: October 04, 2022, 12:14:32 PM »
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  • You make money for doing nothing, by basically gambling.  You make money; someone else loses money.  
    That is a massive oversimplification of how the stock market actually works.


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    Re: Do any of you day trade for your living?
    « Reply #32 on: October 04, 2022, 12:18:35 PM »
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  • Also, lest anyone run away on the usual/typical Cathinfo bashing/rip fest, I mentioned criteria that still has to happen before I get involved.  Ahhh...

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    Re: Do any of you day trade for your living?
    « Reply #33 on: October 04, 2022, 12:32:42 PM »
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  • I'm not saying I'm a genius but yesterday I took out some Call Options on Nokia and this is where it's at.  Of course, the right side of the chart could be lower than the left side, but I've been holding longer than a day so it's technically a Swing Trade/Investment in a real company and therefore moral, I think.

     

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    • Guest
    Re: Do any of you day trade for your living?
    « Reply #34 on: October 04, 2022, 12:46:30 PM »
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  • That is a massive oversimplification of how the stock market actually works.
    Massive oversimplification to the point he's simply wrong.
    he says:
    Quote
    You make money for doing nothing, by basically gambling.
    Beginners most often do in fact gamble, but after a while, day/swing traders take the same calculated risk with their capital that all business owners take. Best to stay on your salary. That's not to insult you, it's to say that most people simply cannot handle the uncertainty of it all.


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    Re: Do any of you day trade for your living?
    « Reply #35 on: October 04, 2022, 01:22:14 PM »
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  • This is more what I expect to happen to me....


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    Re: Do any of you day trade for your living?
    « Reply #36 on: October 04, 2022, 01:24:01 PM »
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  • This here forecasts that VGFC will drop another 44% in the next 3 months --
    https://stockinvest.us/stock/VGFC

    Not sure if I would invest in that given that they're into plant-based meat substitutes (more soy-boys?).  Of course, they could really take off if they start using bugs (per Klaus Schwab) ... except they're allegedly vegan, so I think ze bugz would be out also.

    Also, I don't believe that day-trading is particularly moral.  You make money for doing nothing, by basically gambling.  You make money; someone else loses money.  None of the money is based on anything productive ... like the long-abandoned traditional notion of a stock (where the stock is actually an investment in the company and represents an actual share of the company).
    I've never heard of the Church condemning the stocks and commodities markets which have been around for a few hundred years at least.  The stock market has morphed into a commodities-like market.  I'm not trying to excuse rampant greed in the markets but ideally the day traders (or speculators) provide a valuable service.  They make the entire market more liquid and easier for everyone to buy and sell.  In the worst-case scenario every transaction would need to be negotiated.  But having speculators and market-makers involved makes it possible for buyers and sellers to simply purchase at the going market rate without negotiating anything. There are many perfectly moral scenarios.  e.g. a soybean farmer can purchase futures contracts to sell his soybeans at a certain price.  No matter what happens to the price of soybeans he is locked into the price he specified when he bought the contracts because any loss on the futures contract is offset by the gain on the actual product (soybeans) and vice versa.  This reduces risk and increases predictability.  The businessman is effectively offloading risk onto speculators who apparently (should be) better equipped to carry that risk. That is a valuable tool to a businessman.  Speculators make it possible for the markets to operate smoothly. https://www.investopedia.com/articles/active-trading/022415/how-use-commodity-futures-hedge.asp  https://corporatefinanceinstitute.com/resources/knowledge/trading-investing/speculation/

    Obviously, just like anything else, the markets can be abused by greedy people.  That's immoral.  And there is a line between immoral irresponsible gambling in stocks/commodities and reasonable speculation about the future direction of prices. There are people who work in the markets (the successful ones) who know how to avoid getting into a gambling mindset and who are able to make reasonable speculations about where the price of things is headed in the near future.  Ideally, their income comes from producers (e.g. farmers, oil companies, etc) who are willing to pay a price to lock in a certain price for their product.  As for the stock market, imagine how expensive it would be to raise cash from investors if every sale had to be negotiated privately.  Speculators make it possible for companies to raise cash easily and relatively inexpensively through the stock markets.  Unfortunately, some fools have gone bankrupt because they are incompetent.  And some people have been ripped off by con-artists like Bernie Madoff.  But those kinds of abuses don't make the entire markets immoral.

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    Re: Do any of you day trade for your living?
    « Reply #37 on: October 04, 2022, 02:04:03 PM »
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  • Basically, I'm posting this for the one who initially created this thread as day trading and swing trading utilize the same strategies.  I just closed half my position for 55% gains overnight on the $4.50 Call Options.  Still holding and watching the rest.  This is a Weekly chart and technically speaking, it's bearish.  Price action cracked below support and has rebounded back into resistance.  Generally speaking, this will typically turn back over and head south as the price is now below every moving average - 'the trend is your friend', as they say, and there's no need to fight it.



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    Re: Do any of you day trade for your living?
    « Reply #38 on: October 13, 2022, 02:56:07 PM »
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  • Took out some 2 Call options for .06 (6 cents!).  Expiring Oct 28th and stock also had a huge move last month so we'll see if lightning can strike twice.  Has had good news lately and still bullish on the Monthly chart.  We'll see what happens.  Still watching VGFC.


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    Re: Do any of you day trade for your living?
    « Reply #39 on: October 20, 2022, 11:08:41 AM »
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  • VGFC starting to look like a setup.  RSI not above 40 yet but has had decent volume lately and getting close to the 20sma (blue line).  Watching for volume increase.  Might start taking a nibbler.


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    Re: Do any of you day trade for your living?
    « Reply #40 on: October 20, 2022, 01:43:44 PM »
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  • ^^ Lottery ticket


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    Re: Do any of you day trade for your living?
    « Reply #41 on: October 25, 2022, 11:57:53 AM »
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  • GSAT classic Bull Flag on the 30min chart.  We'll see what happens here.


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    Re: Do any of you day trade for your living?
    « Reply #42 on: October 26, 2022, 08:25:59 AM »
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  • Biotech with critical unmet need product and no other approved products.  Pulled back to 20 moving average and sitting on Weekly trend line support.  

    Offline Yeti

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    Re: Do any of you day trade for your living?
    « Reply #43 on: October 26, 2022, 08:33:48 AM »
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  • Technical analysis is a discredited theory of stock investing.

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    Re: Do any of you day trade for your living?
    « Reply #44 on: October 26, 2022, 08:36:32 AM »
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  • VGFC showing first signs of a Bullish set up, imo.  RSI divergence from Sept to mid-October and RSI pull back with price just trying to cross the 20 simple moving average.  Watching for volume / buyers.