Originally Posted by scho63:
I'm curious how Hog trades as he seems to sell too early as he keeps both a stop loss and limit sell order at the same time
Nothing wrong with selling early and getting gains in this market. If this was a new bull run you’d be more liberal with stops and let things run. I’d risk more per trade then. That makes little sense now, though. Trying to catch monster gains currently by holding longer would likely see you miss the upside and get crushed on these monster reversals. [Reply]
Originally Posted by scho63:
When you guys are day trading, do you raise your stop loss if the stock runs higher?
Seems like you're upside is limited.
Am I missing how you trade?
In my past lives I've lost too many times trying to get that big gain just to watch it tank and take a loss.
In my current life I've taken the approach that a 5%-10% gain is just a win any way you look at it.
But there needs to be a function where you can set a limit sell price at say 10% and then when it hits that a trailing stop kicks in. That way you can set it and forget it and capture the total gain. Maybe there's a way to do that and I don't know about it.
Anyway, the basis of my method now is targeting those stocks with the huge decline and capturing the bounce.
Every 8 winning trades will double your money. I've now hit 21 out of my last 22 with the exception of my TSLA purchase at 873 which is still sitting open. [Reply]
Originally Posted by Hog's Gone Fishin:
I've now hit 21 out of my last 22 with the exception of my TSLA purchase at 873 which is still sitting open.
Gave your method a try on PLTR this week.
Was in at 7.45 out at 8.23. Like you, just a little bit of money, but I'll roll it into something next week and see if I can go 2 for 2. [Reply]
Originally Posted by myselff77:
Gave your method a try on PLTR this week.
Was in at 7.45 out at 8.23. Like you, just a little bit of money, but I'll roll it into something next week and see if I can go 2 for 2.
Awesome. That's a 10% stab!
Just think, if you had done that with 1 billion dollars you would have made 100 million right there. :-) [Reply]
Originally Posted by myselff77:
Thoughts on DOCS tomorrow?
I was just showing it to my daughter , trying to teach her. If you read through stocktwits you get the vibe it's going to bounce nicely. It dropped on an earnings beat, which I don't understand why this phenom even happens.
But anyway when it first showed up on the scanner it was down 24%. Now it's only down 15%.
Probably too late to the party now. Will see what shows up later and then in the morning.
Also, I have found that it's good to check the premarket scanner several times from 6-8:30 .Sometimes a stock may show up at 6:15 and by 8:30 it's moved up or down and then sometimes something just pops up at 8:20 all of the sudden. [Reply]
