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Daytraders

"This Wall Street stuff is easy"Seing a lot of messages like this: "Just spent a day with a friend with zero investing experience. Says he is up 60% on airlines stocks with 50% of his net worth. Claims this Wall Street stuff is easy and he should just quit his good medical job to day trade.". You know what this signals. Looking at a specific example, Dave Portnoy runs a website and was on the news for making a coronavirus rant a few weeks ago. On January 29th, 2020 it was announced that Penn Gaming Inc. (PENN - Get Rating) had purchased a 36% stake in Barstool worth $163 million in cash and stock. He saw the big price fluctuations of PENN. Going from $26 to $39. By March 18th it hit a low of $3.75. So he started day trading in early April or late March. 2 months ago. "Quickly up 100k" or something like that. He's been advising people since he started lmao. Then in a few days he reaches +150k and commands people to take a knee and bow to the new king of day trading (this was back in April). He shorted a stock by misclicking and discovered what short selling was. He got rekt, raged, but later came back. He got invited to CNBC fast money. "I am the king of the stock market" "I am smarter than Warren Buffet" "The old man lost his fastball. Tell him to get off the tracks or he’ll get run over. I don’t want to hurt him." "Say it with me... Stocks only go up. Only losers take profits. This is so easy. All you do is buy and you're rich like Scrooge Mc Duck." June 5: "I’m being modest when I say I’m the world’s greatest day trader. My unlimited money has upgraded to infinity money." He's a 43 yo man that became a millionaire with this site he created. Proving you don't need to be very smart to make it. Who knows, with enough FED intervention an idiot like him can make it, but the country won't. Some people to him: "@stoolpresidente my trading strategy is buy after you lose money in hopes that you sell and the price goes back up. Worked on $SAVE , $BABA next . Please sell your BABAs around $195. 10% commish coming your way when I’m a millionaire." His answer: "Brilliant" Hard to think this is not a parody. The stock market will probably rally higher on positive hopes for the rebuilding of destroyed us cities. Very rational. This will age beautifully. Can't wait.
TVC:IXIC
by MrRenev
2
Reversal Area on BTCMy short has been closed and I am now looking for the most opportune time to enter a BTC position. 1st - I had market bought in to make sure I have skin in the game incase whales push. 2nd - I have 2 positions I am looking to fill & accumulate at which are shown in the chart. I will be trading a large Falling Wedge pattern. The bottom support has only hit 2 times so it should technically hit a 3rd time before breaking out. However, in anticipation of whale manipulation, I will be accumulating my position at different spots. We are seeing Bullish Divergences on the higher timeframes but STRONG bearish divergences on the lower timeframes. The goal isn't to buy the absolute bottom, but to create a safe, good position that will bring in profitable returns for when the reversal comes into play within the next day or two. If you'd like further discussion on my analysis, feel free to come join us in Discord via my Website link shown below on my signature. Cheers! -Wolfie
BITFINEX:BTCUSDLong
by TheWolfofPoloniex
Litecoin LTCUSD Testing important resistance: raise stops againLitecoin/Dollar LTCUSD Litecoin Dollar LTCUSD Testing important resistance at the old highs and so far standing up well. Once again it needs buyers here to push it out of the reach of bears at current levels. Litecoin found buyers exactly where it needed them and has since pushed 5% or so higher. The longer term chart (left) shows price straining against the old high , but actually it's sitting right on top of it, trying to pin it down and use it as support. It's doing well so far but the shorter term chart shows price getting squeezed into a narrowing funnel where a decision has to be made quite soon now...it either pops above the upper dynamic and makes a run for 109 - amazing, but possible, even though it seems unlikely. The Dow and Nasdaq have done exactly that this year already, so it can't be dismissed as outrageous altogether. But, on the other side of the coin, there's also a 50/50 chance (probably 60-40%) that price will lose the support of the lower dynamic and then fall back to 89 at least.This wave of buying has seen 4 smaller waves running inside the funnel, each one getting smaller in size, which is hinting at potential exhaustion here, a natural place to encounter profit taking. Suggest raising the stop on longs to a little under the dynamic support if day trading, and increasing longs if the upper resistance line can be broken through and survive any retest. swing traders can keep their stops at 88 for now.
BITSTAMP:LTCUSDLong
by sumastardon
FTSE 100: UK100 Nice impulse wave down - great for day-tradersFTSE 100 UK100 FTSE's made fine double top spread out over 5 months, quite a big one therefore. Since then it's got itself into a well defined impulse wave which day traders are clearly loving, sending a series of point perfect buy and sell signals all the way down, pretty much. This index remains in the grip of the bears until it can break free of the upper parallel. They look capable of driving it down to 7295 at least if not to 7195 again. It's in a very weak near term technical position whilst below fixed resistance at 7383 and still trapped within the impulse wave. Only by moving up above 7383 and then breaking free of the upper parallel will the bear-spell be broken - stops above the parallel for shorts, looking to sell more on each test of the upper parallel until the target is achieved
FX:UK100Short
by sumastardon
Bitcoin: BTCUSD Decision time for day tradersBitcoin BTCUSD Decision to make here for day traders and others if running a decent profit today Trying to hold up off a tiny line of support that once broken should lead to an acceleration to downside and help achive the minimum downside target at 6312....so tricky here with spreads...if short and day trading from th sell point at 6943 we should be oK, but some might consider a stop not too far above 6830 to trap in 100 points or so ..it can whip back higher to the break level at 6943 one last time, potentially...it's not easy to decide with spreads so wide, though. Whilst below 6943 it's still in a bad way but if continues to hold at the lows it's obviously running out of short term sellers and can stage a quick counter rally. Alternatively a take profits now at the lows but be ready to short again hard on a break below 6700 aiming for 6312 minimum downside target
BITSTAMP:BTCUSD
by sumastardon
Bitcoin: BTCUSD Tracking parallel - use as stopBitcoin Update Still grinding higher. Stops under 7430 have stil not been hit, with a low since at 7434. Now it's entered the area around the highs it's meeting that profit taking we were looking for from 7500 through to the highs at 7590, but absorbing all sales very well, so far... It's tracking within a new impulse wave from the break-out around 7pm est when markets in the far East opened - (that was Chinese buying that followed the break back above the upper parallel last night) Whilst it tracks the parallel it's still very strong...when it breaks below the lower parallel it will turn weaker and then if it breaks below 7450 and breaks stops below 7430 it will start to unravel for a while, back to the next listed support at 7346. So day traders can stay long whilst within parallels and then short on exit from lower parallel on retest and rejection. Swing traders sit tight still awaiting a break above 7600 (with stop 60 points lower)
BITSTAMP:BTCUSD
by sumastardon
CTSO Pre Earnings STOCK SETUPCTSO is set to report earnings early next week, given that this was a requested chart, I have not had time to dig in to the company's fundamental financials and create a good estimate of what to expect from its earnings. GIVEN THE TECHNICAL ANALYSIS ALONE: WE are currently hovering a buy zone, and have broken in to it once. At its current level, we are ready to buy PROTECTING at the red horizontal. This is the bottom of a weekly range and, with a bad earnings report, the place where our stock will find its first resistance. HOWEVER, from our buy level we are currently at I have set 2 key price target levels to reach, of course which you are shooting for is up to you, but both targets would be where I take my profits as a trader. Remember, earnings early next week that can explode a chart in front of you eyes- so be careful.
NASDAQ:CTSOLong
by samblum_