And they swoop down grab all the stops, people flee, short and bam just like that the market goes up and they rake it all in as they buy and people cover. At least that is how I see it playing out.
I don't buy more stocks than I already have and no, I GENERALLY don't use stops.
I CHANGE the way I trade depending on the situation. Whenever I DO use a stop I GENERALLY use a "mental stop" because I don't want my broker knowing where I plan to get out. I will use a stop if I need to protect a position overnight or if I can't be babysitting a position and I think some funny stuff may go on if I walk away from my comp.
Here is a basic instruction for MM in Trading. (Mine would look a bit different, a bit more detailed, > how to define the size of a position, > how to set your stop, > when to take profits, > how to adjust your stop for a position in the win ...)
Using stops is not a broad brush approach... that question has to be answered in specific scenarios. For example, a high volume momentum pump, where it runs up in minutes, only to come down in minutes, only to go back up... is a manual trade for me. More predictable action that is obeying patterns, you can set your stop just outside of the pattern, set a limit sell at your target or watch indicators for exit. Stops are safety gear, like seat belts, for unexpected accidents... setting one does not mean you can stop paying attention to driving the car. :) You should always have a good idea what the price action should be, else is gambling... the stop is the safety net for incorrect judgement. And Yes, you will get stopped out of some good trades, but also saved from horrific falls... the former is UN-realized loss, the latter is Realized Loss. As the others have said, stops are an active item that take more thought and engagement than just buying dips. If you have the time to hawk over every trade... then by all means use mental stops for the many reasons the other site... Personally I don't have that time. I make a trade, and go on to something else, come back on the time frame at which I think it will be higher... hour, day, week, month... its gotta be in a plan. It either hit my target or stopped out. Then I rinse and repeat. Percentage based trailing stops, and time delay stops are better for longer term moves, and can be set through Smart Trading platforms like 3commas. But still, thought has to go into them. The percentage of a percentage based stop would be a function of the volatility of that particular ticker. Consider all trades as in the red until you get your stop to the break even level. Then it's stress free. Everyone has their own personal methods and what works for them and their demeanor... this just happens to be mine.
Happy it helped... I'd like to also note that a Day trader and Long term investor have very different approaches... Trumphell is probably a very long term investor, I personally jump in and out over and over, so our strategy advice will not resonate... hope that makes sense. If you are in it for the long long haul, without trying to capitalize on the various peaks and dips... then stops are not necessary. He IS certainly right... simply buying and holding for the very long term is the easiest way to swing a profit.... eventually. I just don't have that kind of patience. :)
<<<Trumphell is probably a very long term investor,>>>
You guessed correctly. YET, because a lot of my cryptocurrencies will be hitting some higher price points during their next pump it will behoove me to start daytrading. If a coin goes from 0.04 cents a tick to $4.00 a tick then yeah, I will definitely adjust my M.O.
In that case I will not be concentrating more on preventing drawdowns and yes I will use stops then because I will be in and out all day long.
Since I'm going to turn into a daytrader like you are now you got any pointers on daytrading? I will be using the 1hr chart for analysis and the 15 minute chart for entries. OR do you go smaller than that like the 15 and 5? Or 5 and 1?
Well, I am no master whatsoever, and all I trade is crypto... So here is my basics: I 1st look at the projects age. (did it just appear out of nowhere) then I look at its tokenomics (does it have 1 billion coins yet to be released to dilute the value at will) then i look at how transparent they are, (are they making video updates), then I forecast an estimated price increase based on a similar established project. Then I chart it starting from the weekly (macro trend lines), to daily, to 12 hour, to 4 hour.... by the time I get here there is usually a clearly visible RANGE. If it is too chaotic and scammy, I don't do it. (like SOL and FTM... they have very scammy price action & numerous fake outs). As soon as I have my Range, I wait until price action moves to the bottom of the range and buy with a stop below the range support line. I then draw a line to where the predicted price action should hit the top of the range, then I set a limit sell a few points BELOW that, (to front run others looking at the same exit). That is my basic strategy... As for time frame, that is per coin... some are moving fast, some slow... Lately I would be technically an Intra-Day trader because the market has slowed, the moves are slower, and I actually needed a breather anyways! lol... I was doing the small frames for a while, that can get exhausting... and YES, once my macro range is defined I zoom in to find best entry. Zooming in on seemingly "flat" coins can sometimes reveal impressive micro-ranges... For that I use the range as basic boundary and watch RSI, Stoch RSI, MACD, sometimes ATR... I found to use them, they have to always be calibrated to that coin... if the exit signals they throw are "wrong" they need tweaked. Once you get the "sweet spot" they should almost always give you a clear exit signal... on smaller time frames I go manual because setting limit sells often get missed from everyone front running each other. The most time consuming part is finding a coin I like. My favorite Alt right now is SOUL (phantasma chain)... it is certainly one to keep on your radar this year. Two good micro ranging Alts are MAP and BOLT... they look flat until you zoom in. I hope that gives you some ideas. Lastly... as you noted, I too believe the market is about to do another bull leg, I just published this idea last night, those who buy now will sit pretty if this pans out... I am just waiting for break/retest confirmation:
Unfortunately the best teacher is Pain. ... im not an oil guy but it looks like (WTI) bottomed at 1 am and is now at 94.4... and on the 30 min it looks like it may roll over and bounce off the 200 at 92.80. Maybe that is closer to where it got you.
Again, Im not an oil guy, but the daily looks like it could roll over more than that... Down trending to like 85 by may 1. I would ask the oil pro's before rushing back in if you are still on the side lines.
Don't worry sweety, Zio is going to give you some links to some good trading videos because you want to learn how to trade. I APPLAUD you for wanting to grow and take steps higher than just "buying the dip". That's a GREAT strategy for novices, but I see you are desiring to take some bigger steps here. Don't worry, Zio's got you and so do I. I will send you links as soon as I can to some good trading videos. I need some fresh air anyway...let me step outside into the fresh air and see if I can get some better reception and send you ONE video. I'll send more later.
Using Stops imo is the most important part of Money Management. You always have to know your Stopp BEFORE you open a position. Than you know your risk, the money you would accept to lose while you take a chance to make profit. Always trust your initial plan, so never change your Stop when your position is in the negative. When your position is in the positive you can adjust the Stop to reduce your risk.
Good Morning Sir. You are right. Money Management is a science itself. Most easy MM indeed is buy and hold because you believe in your stocks. Its a simple MM for Investors. For traders as you said it not works. AND true, MM is much more about psychology than about Money. Its to beat your own fear and greed. 8 % up or down are nothing for a traders' position but a lot for an investors' position. Unfortunately I am very busy atm. Hope I can give a detailed and simple MM-Manual soon to all that are interested in trading as a booster for investments. So far, listening to Greg and follow his advice is a really good strategy. He did NOT told us to buy Meta Platform or Tesla. He told us to buy the suspicious Banks. Good Advice. Am screening JPM for very long now. The Chart and the basics. So I know there is no need for any panic or frustration for JPM-Investors. There are buying opportunities. Now, @ about 133 USD, @ 125 USD and @ about 114 USD. As an investor you should be HAPPY for every Chance to buy cheaper, you will earn MORE money IF stock is going down before it is skyrocketing again. It is simple math as you know by yourself. Thsnk you for your eye opening comment. Sincerly, YOUR PRESIDENT (elect).
What The? You blankety blank blank blank!!! Hahahahahahahahaaa!!! 🤣
You are an awesome trader Zio and you are an asset to me and a lot of other traders/investors here on this site. Thank you for investing your time into helping us out. 👍 😃
“ This woman” said frustrated not “ I’m quitting and going to kill myself” Perhaps some on here have more background experience of trading. However, I thought this is a learning platform not a roasting platform. In addition, I have purchased and read Greg’s e books and imo, Greg scratches the surface of his trading techniques in his material. So if I’m going to be squashed on for speaking up; I will have signed up to the wrong team
Greg touches on some "higher concept" material in his books. Heck, even I don't screw around with option spreads. I'm sorry, I didn't mean to make it seem like I was squashing you. I like when people ask questions and try to help them out. Please forgive me. 😃
The funny thing is Greg touches on all levels of trading. I've seen him teach stuff I wouldn't touch with a 10ft pole because those concepts are way too complicated for me. He also teaches literally every day on his simplest strategy which is "buy the dip". I started my trading career simply and was consistently profitable trading the MACD. I wanted MORE so I started seeking out more complicated methodologies in trading. I blew 3 accounts. NOW I ran into Greg and started hearing him preaching his "Buying the dip" strategy which I heard people talk about, but I never used it. Now that I'm using it I'm consistently profitable again. So much so that I have made a killing in crypto. 😃
I NEVER like to use actual stops. I ONLY use them when I am stepping away from my comp for extended periods of time like overnight. I remember trading FOREX and watching the MM's stop-hunting. I would ALWAYS set my stop lower/higher than others because I knew once the MM's stopped them folks out they would be satisfied with that liquidity grab and leave me alone. WRONG! I'd watch the MM's take out all the others, then come for MY stop!!! WT? I would RE-set my stop lower/higher....price would come lower/higher...I would RE-set my stop even LOWER/higher....price would go lower/higher....I would KEEP doing that UNTIL them fool MM's would FINALLY give up trying to stop me out!!!
Woww such a nice car..! Are you sure you want to sell it..? Perhaps, you could give it to charity for a good cause, remember GOD will give you more ;) XX
Question on the vehicle - this is a stock 350 CID, what transmission does it have (TH350 or TH400)? And it appears that this is unmolested stock condition, meaning no power adders like intake, headers, etc? This would be a good candidate for someone who wants to restore to numbers-matching original condition vs. converting to a street machine. I am spreading the word on this to people down here in NC, they know how hard it is to find a rust-free baseline vehicle.
That car looks Badass!
but does it come with a lock of your hair
Yes. ; )
Everyone wants that DNA……..dang
haha, hey man, am I crazy for picking up shares in RSX (Russia LargeCaps) ETF? Just a small portion of the portfolio | Long Term Hold - Thnkas
No, all my oil and bank stocks hit their stops ; frustrated
Greg said to "Buy the dip".
I do buy outright but I’m don’t want to take an 8% drop
I understand you. You have a right to get out whenever you wish. 😃
And they swoop down grab all the stops, people flee, short and bam just like that the market goes up and they rake it all in as they buy and people cover. At least that is how I see it playing out.
I so you don’t use stops on your Stocks?
I don't buy more stocks than I already have and no, I GENERALLY don't use stops.
I CHANGE the way I trade depending on the situation. Whenever I DO use a stop I GENERALLY use a "mental stop" because I don't want my broker knowing where I plan to get out. I will use a stop if I need to protect a position overnight or if I can't be babysitting a position and I think some funny stuff may go on if I walk away from my comp.
Brokers knowing stops and market wanting us to stop out tight has never been brought to my attention. 🤔thanks!
Nope that is how they get your money.
Yes
You may want to listen to Alex j. this evening. Bet it’s going to be rocking .
Not worth crap unless it is a numbers matched z28
Interesting vid ty
That's more like a garage find.probably original shape.barn finds are like well it's at least restorable LoL
Good heavens she's a beauty bro. I wish
Greg! What’s your “ instruction” on using or not using stops? Let’s hear from No horses mouth
Greg's strategy is the most WINNINGEST, SIMPLE strategy in the world. It's helped me too.
Here is a basic instruction for MM in Trading. (Mine would look a bit different, a bit more detailed, > how to define the size of a position, > how to set your stop, > when to take profits, > how to adjust your stop for a position in the win ...)
https://www.centralcharts.com/en/gm/1-learn/5-trading/15-money-management
As an investor in Stocks, following Gregs Advice, you dont need this kind of MM. You only need dry powder, happiness and coolness.
>>> Never count your money while you are sitting at the table. It is time enough for counting when the deal is done.
Using stops is not a broad brush approach... that question has to be answered in specific scenarios. For example, a high volume momentum pump, where it runs up in minutes, only to come down in minutes, only to go back up... is a manual trade for me. More predictable action that is obeying patterns, you can set your stop just outside of the pattern, set a limit sell at your target or watch indicators for exit. Stops are safety gear, like seat belts, for unexpected accidents... setting one does not mean you can stop paying attention to driving the car. :) You should always have a good idea what the price action should be, else is gambling... the stop is the safety net for incorrect judgement. And Yes, you will get stopped out of some good trades, but also saved from horrific falls... the former is UN-realized loss, the latter is Realized Loss. As the others have said, stops are an active item that take more thought and engagement than just buying dips. If you have the time to hawk over every trade... then by all means use mental stops for the many reasons the other site... Personally I don't have that time. I make a trade, and go on to something else, come back on the time frame at which I think it will be higher... hour, day, week, month... its gotta be in a plan. It either hit my target or stopped out. Then I rinse and repeat. Percentage based trailing stops, and time delay stops are better for longer term moves, and can be set through Smart Trading platforms like 3commas. But still, thought has to go into them. The percentage of a percentage based stop would be a function of the volatility of that particular ticker. Consider all trades as in the red until you get your stop to the break even level. Then it's stress free. Everyone has their own personal methods and what works for them and their demeanor... this just happens to be mine.
Wow! Awesome comment! 😃
Super helpful! I truly appreciate your thoughts and time. I’m will check out your trading platform suggestion. Best,
Happy it helped... I'd like to also note that a Day trader and Long term investor have very different approaches... Trumphell is probably a very long term investor, I personally jump in and out over and over, so our strategy advice will not resonate... hope that makes sense. If you are in it for the long long haul, without trying to capitalize on the various peaks and dips... then stops are not necessary. He IS certainly right... simply buying and holding for the very long term is the easiest way to swing a profit.... eventually. I just don't have that kind of patience. :)
<<<Trumphell is probably a very long term investor,>>>
You guessed correctly. YET, because a lot of my cryptocurrencies will be hitting some higher price points during their next pump it will behoove me to start daytrading. If a coin goes from 0.04 cents a tick to $4.00 a tick then yeah, I will definitely adjust my M.O.
In that case I will not be concentrating more on preventing drawdowns and yes I will use stops then because I will be in and out all day long.
Since I'm going to turn into a daytrader like you are now you got any pointers on daytrading? I will be using the 1hr chart for analysis and the 15 minute chart for entries. OR do you go smaller than that like the 15 and 5? Or 5 and 1?
Well, I am no master whatsoever, and all I trade is crypto... So here is my basics: I 1st look at the projects age. (did it just appear out of nowhere) then I look at its tokenomics (does it have 1 billion coins yet to be released to dilute the value at will) then i look at how transparent they are, (are they making video updates), then I forecast an estimated price increase based on a similar established project. Then I chart it starting from the weekly (macro trend lines), to daily, to 12 hour, to 4 hour.... by the time I get here there is usually a clearly visible RANGE. If it is too chaotic and scammy, I don't do it. (like SOL and FTM... they have very scammy price action & numerous fake outs). As soon as I have my Range, I wait until price action moves to the bottom of the range and buy with a stop below the range support line. I then draw a line to where the predicted price action should hit the top of the range, then I set a limit sell a few points BELOW that, (to front run others looking at the same exit). That is my basic strategy... As for time frame, that is per coin... some are moving fast, some slow... Lately I would be technically an Intra-Day trader because the market has slowed, the moves are slower, and I actually needed a breather anyways! lol... I was doing the small frames for a while, that can get exhausting... and YES, once my macro range is defined I zoom in to find best entry. Zooming in on seemingly "flat" coins can sometimes reveal impressive micro-ranges... For that I use the range as basic boundary and watch RSI, Stoch RSI, MACD, sometimes ATR... I found to use them, they have to always be calibrated to that coin... if the exit signals they throw are "wrong" they need tweaked. Once you get the "sweet spot" they should almost always give you a clear exit signal... on smaller time frames I go manual because setting limit sells often get missed from everyone front running each other. The most time consuming part is finding a coin I like. My favorite Alt right now is SOUL (phantasma chain)... it is certainly one to keep on your radar this year. Two good micro ranging Alts are MAP and BOLT... they look flat until you zoom in. I hope that gives you some ideas. Lastly... as you noted, I too believe the market is about to do another bull leg, I just published this idea last night, those who buy now will sit pretty if this pans out... I am just waiting for break/retest confirmation:
https://www.tradingview.com/chart/TOTAL/JspbrbbR-Bullish-Hopium-for-Total-Crypto-Market/
Holding length varies for in my portfolio; certain drug stocks I know their wave but like oil I would like long term hold. I have more homework to do
Unfortunately the best teacher is Pain. ... im not an oil guy but it looks like (WTI) bottomed at 1 am and is now at 94.4... and on the 30 min it looks like it may roll over and bounce off the 200 at 92.80. Maybe that is closer to where it got you.
Again, Im not an oil guy, but the daily looks like it could roll over more than that... Down trending to like 85 by may 1. I would ask the oil pro's before rushing back in if you are still on the side lines.
Thanks a bunch . What platform are you looking at this on oil? Who are the oil experts ?
Don't worry sweety, Zio is going to give you some links to some good trading videos because you want to learn how to trade. I APPLAUD you for wanting to grow and take steps higher than just "buying the dip". That's a GREAT strategy for novices, but I see you are desiring to take some bigger steps here. Don't worry, Zio's got you and so do I. I will send you links as soon as I can to some good trading videos. I need some fresh air anyway...let me step outside into the fresh air and see if I can get some better reception and send you ONE video. I'll send more later.
Using Stops imo is the most important part of Money Management. You always have to know your Stopp BEFORE you open a position. Than you know your risk, the money you would accept to lose while you take a chance to make profit. Always trust your initial plan, so never change your Stop when your position is in the negative. When your position is in the positive you can adjust the Stop to reduce your risk.
<<<Using Stops imo is the most important part of Money Management.>>>
You are correct and she will do well to use them. 😃
Good Morning Sir. You are right. Money Management is a science itself. Most easy MM indeed is buy and hold because you believe in your stocks. Its a simple MM for Investors. For traders as you said it not works. AND true, MM is much more about psychology than about Money. Its to beat your own fear and greed. 8 % up or down are nothing for a traders' position but a lot for an investors' position. Unfortunately I am very busy atm. Hope I can give a detailed and simple MM-Manual soon to all that are interested in trading as a booster for investments. So far, listening to Greg and follow his advice is a really good strategy. He did NOT told us to buy Meta Platform or Tesla. He told us to buy the suspicious Banks. Good Advice. Am screening JPM for very long now. The Chart and the basics. So I know there is no need for any panic or frustration for JPM-Investors. There are buying opportunities. Now, @ about 133 USD, @ 125 USD and @ about 114 USD. As an investor you should be HAPPY for every Chance to buy cheaper, you will earn MORE money IF stock is going down before it is skyrocketing again. It is simple math as you know by yourself. Thsnk you for your eye opening comment. Sincerly, YOUR PRESIDENT (elect).
<<<Sincerly, YOUR PRESIDENT (elect). >>>
What The? You blankety blank blank blank!!! Hahahahahahahahaaa!!! 🤣
You are an awesome trader Zio and you are an asset to me and a lot of other traders/investors here on this site. Thank you for investing your time into helping us out. 👍 😃
I believe you may be a bit to much into my comment. Enjoy your knowledge; maybe I’ll be an actual TRADER some day ! 😃
You're an "actual" trader now Donna. What makes you an actual trader is your desire to learn. 😃
“ This woman” said frustrated not “ I’m quitting and going to kill myself” Perhaps some on here have more background experience of trading. However, I thought this is a learning platform not a roasting platform. In addition, I have purchased and read Greg’s e books and imo, Greg scratches the surface of his trading techniques in his material. So if I’m going to be squashed on for speaking up; I will have signed up to the wrong team
Here is an interesting video to watch. https://youtu.be/3G77VKiXEOo
Greg touches on some "higher concept" material in his books. Heck, even I don't screw around with option spreads. I'm sorry, I didn't mean to make it seem like I was squashing you. I like when people ask questions and try to help them out. Please forgive me. 😃
The funny thing is Greg touches on all levels of trading. I've seen him teach stuff I wouldn't touch with a 10ft pole because those concepts are way too complicated for me. He also teaches literally every day on his simplest strategy which is "buy the dip". I started my trading career simply and was consistently profitable trading the MACD. I wanted MORE so I started seeking out more complicated methodologies in trading. I blew 3 accounts. NOW I ran into Greg and started hearing him preaching his "Buying the dip" strategy which I heard people talk about, but I never used it. Now that I'm using it I'm consistently profitable again. So much so that I have made a killing in crypto. 😃
Completely agree, however I like my mental stops.
I NEVER like to use actual stops. I ONLY use them when I am stepping away from my comp for extended periods of time like overnight. I remember trading FOREX and watching the MM's stop-hunting. I would ALWAYS set my stop lower/higher than others because I knew once the MM's stopped them folks out they would be satisfied with that liquidity grab and leave me alone. WRONG! I'd watch the MM's take out all the others, then come for MY stop!!! WT? I would RE-set my stop lower/higher....price would come lower/higher...I would RE-set my stop even LOWER/higher....price would go lower/higher....I would KEEP doing that UNTIL them fool MM's would FINALLY give up trying to stop me out!!!
What a beautiful Camero…
Good luck with the sale greg!
Woww such a nice car..! Are you sure you want to sell it..? Perhaps, you could give it to charity for a good cause, remember GOD will give you more ;) XX
Question on the vehicle - this is a stock 350 CID, what transmission does it have (TH350 or TH400)? And it appears that this is unmolested stock condition, meaning no power adders like intake, headers, etc? This would be a good candidate for someone who wants to restore to numbers-matching original condition vs. converting to a street machine. I am spreading the word on this to people down here in NC, they know how hard it is to find a rust-free baseline vehicle.
Yikes! A real beauty, Greg.
If you keep savin em, one day I’ll be able to swing it….
How long does it have to stay plugged in to fully charge. And how far can it go on a charge?
:) lol
It said AC (missing compressor). Was that pulled or just left out of the original specs? I like that 350 engine. Those were fun cars. Chick magnets.