Boiler Room: The Official Stock Market Discussion

[FabTrey]

Nice win.

Have you posted your steps on how to play pennies?

i would say i'm a typical momentum trader.

I scan for stocks with high volume and news catalysts, especially those gapping up or down by at least 10-15%. I like to enter trades at breakout points and use tight stop losses, aiming for a risk-to-reward ratio of at least 2:1.

my problem is i got weak ass hands. i just don't want to see red breh. i just go in and out quick. i scale few times and i'm content with small gains.

i avoid overtrading, keeping it simple, managing risk, and at the end of the day, the goal is to stay green.


if yall can learn how to stay green at least 3 times a week, then trading is for yall.

 

[winb83]

i would say i'm a typical momentum trader.

I scan for stocks with high volume and news catalysts, especially those gapping up or down by at least 10-15%. I like to enter trades at breakout points and use tight stop losses, aiming for a risk-to-reward ratio of at least 2:1.

my problem is i got weak ass hands. i just don't want to see red breh. i just go in and out quick. i scale few times and i'm content with small gains.

i avoid overtrading, keeping it simple, managing risk, and at the end of the day, the goal is to stay green.


if yall can learn how to stay green at least 3 times a week, then trading is for yall.

I don't know hoy yall do that stuff.

I'm almost to the point I'm just gonna DCA into ETFs. I buy a share of SCHD and DGRO every time I get paid and I also use any dividend income I get to buy shares.

My individual stocks I'm willing to buy are the Magnificent 7, JPM Chase, Disney, Abbvie, SoFi, and Palantir. I have stuff like Target, Ford, Costco, and Visa in my M1 Finance but I consider that basically an ETF rather than my buying individual shares. I pretty much stopped selling stuff because the longer I keep it the better it does.

I just keep hearing that for the majority trading is a wash. People make money on one trade, lose it on the other and either end up not beating the market or negative overall.

 

[FabTrey]

I don't know hoy yall do that stuff.

I'm almost to the point I'm just gonna DCA into ETFs. I buy a share of SCHD and DGRO every time I get paid and I also use any dividend income I get to buy shares.

My individual stocks I'm willing to buy are the Magnificent 7, JPM Chase, Disney, Abbvie, SoFi, and Palantir. I have stuff like Target, Ford, Costco, and Visa in my M1 Finance but I consider that basically an ETF rather than my buying individual shares. I pretty much stopped selling stuff because the longer I keep it the better it does.

I just keep hearing that for the majority trading is a wash. People make money on one trade, lose it on the other and either end up not beating the market or negative overall.

I wouldn't jump into trading unless you learn the ropes, breh. If you wanna give it a shot, start with paper trading. If you dive in with real money without knowing the game, you're gonna fail 100%.



9 out of 10 traders lose money cuz:

1. They don't know how to read charts.
2. They get greedy.

Staying in the green is tough, breh. penny market is volatile as hell. You can snag a 50% gain in a flash but lose it all just as fast. Once you get a taste of those big gains, it's hard to settle for 10-15% yearly returns. it really is like a drug.

Right now, I'm cool with making 2-5% gain per trades. i've been 70% in accuracy which is above average. my weakness is i pull out too quickly. i'm too good at pulling out. i go in and be done with it.

If you're serious about getting into it, watch chart pattern vids on YouTube and start paper trading. If you can stay green consistently, then open a small account and start trading. I know traders who rake in millions a year. I'm not there yet, but I feel like I will be soon.

 

[FabTrey]

one of the trade today. example of my paper hands

i took a chance and went in with 900 shares, but got scared thinking i'll get jack knifed, so i got out quick. if i grew a pair and held on...
holding on to a winner longer is the hardest part from my experience. i need to get over that hump, but it's not easy.

 

[winb83]

I wouldn't jump into trading unless you learn the ropes, breh. If you wanna give it a shot, start with paper trading. If you dive in with real money without knowing the game, you're gonna fail 100%.



9 out of 10 traders lose money cuz:

1. They don't know how to read charts.
2. They get greedy.

Staying in the green is tough, breh. penny market is volatile as hell. You can snag a 50% gain in a flash but lose it all just as fast. Once you get a taste of those big gains, it's hard to settle for 10-15% yearly returns. it really is like a drug.

Right now, I'm cool with making 2-5% gain per trades. i've been 70% in accuracy which is above average. my weakness is i pull out too quickly. i'm too good at pulling out. i go in and be done with it.

If you're serious about getting into it, watch chart pattern vids on YouTube and start paper trading. If you can stay green consistently, then open a small account and start trading. I know traders who rake in millions a year. I'm not there yet, but I feel like I will be soon.

Are you tracking your returns vs just buying a S&P 500 index fund?

 

[FabTrey]

Are you tracking your returns vs just buying a S&P 500 index fund?

for my other account i've been consistently up 20% yearly basis largely due to tech stocks.
crypto was where i made my first mil and had huge returns. that was 3 years ago.

i'll see where i stack up at the end of the year for trading. but trading can spoil you. when you eat 20% gain in a week, it's hard to go back to index fund.

 

[Tunez]

Penny stock day

 

[El_Mero_Mero]

Penny stock day

Anything else to share?

edit: Okay, I just looked at the SHCR chart on RobinHood and it looks CRAZY to me. I guess that's what you meant by Penny Stock Day.

 

[Doomsday]

Staying disciplined is tough brehs, but I'm content with a 2-5% gain per trade.

Exactly. That's the REAL formula to make money consistently in this game. nikkas don't use their calculator. Those few points per trade add up, and even ONE YEAR later, you can go from 100 to 100,000 using that method.

one of the trade today. example of my paper hands


i took a chance and went in with 900 shares, but got scared thinking i'll get jack knifed, so i got out quick. if i grew a pair and held on...
holding on to a winner longer is the hardest part from my experience. i need to get over that hump, but it's not easy.

Naw, "paper hands" is why you win. NEVER change that style. That's what separates consistent winners like us and the bag holders who always lose. You have to look at it like you're the smart guy selling to a bag holder, who buys it off you and then goes on to lose money. 90% of those runners, by the time the trading day closes, will be down 50%+ or more. It would be foolish to hang on. I win 80% of my trades because I'm quick to toss the ticking time bomb to another fool. You have to look at it like you're playing Hot Potatoe.

 

[Doomsday]

OPTT looks like a decent penny to flip.

 

[winb83]

Gonna start buying $NKE.

 

[Doomsday]

OPTT looks like a decent penny to flip.

TOLD YAW! YAW BETTER JUMP ON THIS bytch WHILE YOU CAN!

 

[morris]

TOLD YAW! YAW BETTER JUMP ON THIS bytch WHILE YOU CAN!

You seem to have a good track record. I made a killing off OPTT (75% gain in one day) back in 2013; I doubt this will ever become a reality.

what do you think of ATER?

 

[Doomsday]

You seem to have a good track record. I made a killing off OPTT (75% gain in one day) back in 2013; I doubt this will ever become a reality.

what do you think of ATER?

Within the context that I'm not currently invested nor plan to invest in ATER myself...

If it's close to a 52-week low, AND it has options, it seems like it wouldn't hurt you to start a position.

 

[winb83]

This year has been unreal. In late February my combined SoFi, Fidelity, Robinhood, and M1 Finance portfolios cracked $100K It's just July and now they're combined $118K