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StandardBasicCardTheorist

Duelist
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About StandardBasicCardTheorist

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  1. Daytrading free money thread

    VXX down over a percent in less than an hour. Yay
  2. Daytrading free money thread

    Looking at premarket prices, VXX will likely open under its previous price floor, becoming a ceiling. Therefore, it should decline. 26.68 appears to be the next support level and it can reach that this week.
  3. Daytrading free money thread

    Yes. There are so many discount brokers out there now. Robinhood is free- they sell your info and execution is terrible, can end up losing money from just that. On the other hand, ThinkOrSwim and Tastyworks is excellent- Tasty offers just a $1 commission per option contract per leg for a max of $10. Over 10 and the rest are free. $1.25 to open and $1.25 to close a futures contract too. ToS is not as cheap but offers way more in terms of charts, studies, etc. Some use a combination of both- having some holds in ToS to fill the minimum requirement in order to use their services then trade in a different brokerage.
  4. Daytrading free money thread

    Dang. Quite disappointing tbh. But that's how life goes, ups and downs. That old Worm Linx Snipe Hunter deck wasn't really any good. I just happened to get lucky using it in a grindy metagame where it fared better than normal (still wasn't good, I'll be the first to admit- to rogue stuff mainly it lost), but it was a little after Qli and the pendulum mechanic came out that it really became obsolete. I had some big wins over a few legends in the game but only online so it means nothing and it was never good enough to win major tournaments. I can look at my stock strategies and see how technically, it is similar to the deck building methods I use. Helmet.dek pretty much. The analysis is done beforehand (line drawing) and there is really no decision tree involved. Hard to translate it further to YGO, but yeah. Neither is an easy game. Just a few days ago I know a guy who blew his whole account. Scary stuff. He'd been trading for years too. Just gotta keep reading, learning, applying, readjusting. I just thought it'd be cool to see what kind of strategies the players here could come up with in trading. Other forums are just kinda meh. I don't want to sound like a showoff but I've been doing well and others online consider me to be one of the good ones, so it isn't easy finding someone to discuss technical methods with. People just don't understand. Also, like in YGO, if a strategy gets out, everyone else uses it and then it stops working. My edge/secret in the game is how I calculate the price points- googled it and nothing came up so I have to develop it further by myself from scratch pretty much. It's all good though. It's part of the game.
  5. Daytrading free money thread

    Here I show the daily chart of John Deere Co. See near the left, those 2 candles hitting their wicks on the long red line. This shows that for two days, the low was at that point. Afterwards, it gapped down and crashed. Much later, it climbed back up. Look at the green candle (4th from right). This was the first time price went back to that point. With the settings to display price in this manner, a green candle with a body filled (unlike a transparent green candle) means that price gapped up then moved down to end the day still above the previous close but had a net intraday decline. This is what I meant when I said that a price ceiling pushed the price down when it first touches there. Think about the market psychology. People who bought on the lows of the price floor (as it was a price floor at that time) were at a net loss when price gapped down. They could only close for breakeven IF price got back to that level. So if price ever got back, you can see there would be some selling at that point to push price down. And thats exactly what happened. I've attached the intraday price chart on the 5 min scale (where each candle represents 5 min of trading) to display the dynamics of that day.
  6. Daytrading free money thread

    Something I wanted to point out here as a matter of technical discourse. /ES hit resistance on the 5 min 12:00 candle. However, QQQ had not hit at the time, it was only close. VXX had not hit either. The double hits are very helpful in avoiding the fakeouts the market makes. VXX actually hit support at 12:35 which was time of the actual high on /ES, and the QQQ hit occurred at 12:15. This would have helped in avoiding a false move. I would not count the VXX and QQQ hit as a simultaneous hit, as the timing was off and the market made a small consolidation just above the VXX support which sort of blurs the hit, but it would have been better than the single hit on /ES and one could have gotten a better price on that trade. Spike type events are far superior, as it more clearly defines a move. If the trade had been entered on /ES at 12:00, it would have eventually reversed and the loss would have turned into a win- but there would have been a large drawdown and more likely one would have gotten stopped out (automatic loss cutting when a trade goes too far against you). Notice also the early DIA support hit at 6:30- the next candle had only a small drawdown and could have been a good long entry. But, one can't have a system that says these things in hindsight because anyone can do that. In my second image, I show the 2 day chart on QQQ (today and yesterday) on the 5 minute timeframe. This shows how lines are generated. Often, a price floor (where lows occur) will become a price ceiling (where highs occur) if price happens to gap up or below that point. This will help anticipate where reversals occur. (If you want to learn more about these things, I recommend the 'supply and demand' trading style, you can google it. Don't pay for any courses or books, you don't need someone to pay or else they would have been successful trading themselves. And for books, there are a lot of free ones as well as torrents.) So when you mark out these important points, you should do it for the 3 main indexes that are trades on the US stock exchanges, as they are correlated. The price ceiling/floor method is good but it does not work all the time. However, by correlating the major indexes and trading the double hits, it improves the chances that you've found the 'real' reversal point. I've talked to a bunch of traders but the intensity and drive of the gamers here was so much more. I think the people here would turn out to be better traders than people from most other professions, but that's just imo. I don't think it can happen anymore, as it seems almost everyone left. It's kind of sad.
  7. Daytrading free money thread

    No good setups today, traded nothing. This place is deader than my insides. What happened?
  8. Daytrading free money thread

    Another nice long trade for a 2 points on /ES on the 8:05 candle when both the Nasdaq and the Dow hit support simultaneously, which was a short term low, but this is after the fact so I can't prove it. However, if you look at the lines in the chart above, you can see where they were in relation to price in order to verify this. /ES offered the resistance point and had I held, it would have given a larger amount of gain. But the market has been consolidating in range and therefore it is more difficult to gauge a potential break.
  9. Daytrading free money thread

    Toldja! Took my money. No losing trades this week and up 10% on my life savings, as all the money is in the trading account. Also please ban me, I am Cardtheorist. Good luck to all.
  10. Daytrading free money thread

    /ES 2894.50 and VXX 27.33 hitting at the same time is a short if it happens today, be ready
  11. Daytrading free money thread

    Forgot to mention, the reason I longed VXX in the first place was because it opened above the resistance line, making it become a support line. QQQ also opened under resistance at the same time. So these factors combined gave a much greater likelihood of the trade working out. That is pretty much the best strategy I have when trading.
  12. Daytrading free money thread

    So in the morning when I longed VXX for that big green candle, I closed it when DIA went down and almost hit the gray line, as indexes are generally inversely correlated with volatility products. So the DIA support could potentially reverse, implying the short term high of VXX. That's why I closed. However, I thought it would go up more but I had to wait for a setup that would allow me that opportunity, but it never happened. Anyway, at 7:30, /ES hit support. I had fallen back to sleep at the time, as I was exhausted, only to wake up a little later for work. It would have been a good point to buy into though. And again, because indexes are generally correlated, the exit point would have been when DIA hit the resistance line. It didn't catch the high, but gains are gains. There were other trades too, but there was a lot of choppiness in the market today and I didn't want to risk a break, so I avoided re-tests. If price keeps on hitting a support or resistance lever, there are 2 schools of thought. One says that the more times it is tested, the weaker it becomes, as people begin to know about it and the demand gets 'used up'- that is, buyers become expended. The other school says that it shows strength as buyers are willing to defend that level as it is seen as good value. I only trade the first touch for most part. This requires being able to read markets to choose good price levels, and so this way I am able to avoid the conundrum either way. Oh, and for the CMG trade, I would have sustained a little more drawdown for a few minutes had I held as the high ended up being only 1 dollar for my short, but price would have fallen further further later in the day and would have given around a 20% profit. However, individual names are not my specialty and I find index trades easier.
  13. Daytrading free money thread

    closed for breakeven
  14. What Anime Are You Watching Right Now?

    Kaiji is an excellent mindgame show. Character design is terrible as expected, but it kind of grows on you. It's the kind of anime where most people pass over because of the initial reaction but the suspense building and twists with lack of common tropes makes it really addicting.
  15. Daytrading free money thread

    Shorting CMG at 742.08 now
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