Stock Trading! (penny stock mostly...) :-)

[Akima]

I played in the commodities market for a while. Did some very risky day trades with Forex with some insane leverage ratios too.

 

You seriously need to know what your doing, and it takes a particular kind of mind set, emotionless, and know when to stop, even if you can see profits rocket.

 

For example, I had a really nice SHORT going on with Oil and the US Oil Stock announcements came out an hour later stating they had too much. Naturally the price of oil dropped and I started making a lot of money. I should sold when I hit my target profit but I got greedy when it shot 3/4 times past my target. Half an hour later US interest rates were announced which strengthened the USD and as a result increased the price of oil. Within a few minutes my profits went from +£3000 to -£800 and I defaulted and had to sell my stocks.

 

Long story short. Don't get greedy. Set yourself a profit target and stick to it. Don't let an upward or downward trend cloud your judgement as stocks and shares are so so volatile in today's market.

[zombiepixel]

On 3/17/2017 at 3:51 AM, Akima said:

I played in the commodities market for a while. Did some very risky day trades with Forex with some insane leverage ratios too.

 

You seriously need to know what your doing, and it takes a particular kind of mind set, emotionless, and know when to stop, even if you can see profits rocket.

 

For example, I had a really nice SHORT going on with Oil and the US Oil Stock announcements came out an hour later stating they had too much. Naturally the price of oil dropped and I started making a lot of money. I should sold when I hit my target profit but I got greedy when it shot 3/4 times past my target. Half an hour later US interest rates were announced which strengthened the USD and as a result increased the price of oil. Within a few minutes my profits went from +£3000 to -£800 and I defaulted and had to sell my stocks.

 

Long story short. Don't get greedy. Set yourself a profit target and stick to it. Don't let an upward or downward trend cloud your judgement as stocks and shares are so so volatile in today's market.

interesting! alright. emotionless.

[TopWargamer]

@MyInnerFred Does this for a living last time I checked.

 

Personally, I'm waiting for Bitcoin to crash again, and then invest and wait a few years (or sooner) for it to jump in price again.

[WindirBear]

On 3/16/2017 at 10:21 PM, Dutch-stoner said:

Next day, he had nothing.

Storytime?

[Speedyv]

The only investing I'll be doing is investing in index funds (eventually). Maybe real estate. 

I'm no economic expert but a lot of people support the idea that we're in a market bubble right now. 

[Fred Castellum]

On 3/20/2017 at 11:50 PM, TopWargamer said:

@MyInnerFred Does this for a living last time I checked.

 

Personally, I'm waiting for Bitcoin to crash again, and then invest and wait a few years (or sooner) for it to jump in price again.

Shit man, you shoulda messaged me on discord. I haven't checked ltt forums in a couple of days now. *shrug*

 

Ahh bitcoin, I made some good money off of that and litecoin/dogecoin before the bitcoin crash. I stayed outta that ever since reaping the gains, don't even remember my wallet info now. 

On 3/17/2017 at 0:21 AM, Dutch-stoner said:

So uhm... Who are you?

 

Also, you should have invested into AMD a few years ago. You could have been semi rich.

 

Not going into stock thingies. It's gambling. My lil brother started out with 2k euro. He went stock gambling. After half a year, he was bragging about having 14k or somethin. Next day, he had nothing.

Trading stocks is not something to take lightly, and especially not something for people who lack self control.

 

You make a plan and you stick with it, consistency. Know when a plan isn't working and adapt.... I've lost 12k-13k in a single day before and made it back in the next week. 

 

On 3/17/2017 at 0:04 AM, zombiepixel said:

SO what the heck happened to me?!! i vanished from linuistechtips forum for a while. well im back with some new stupid ideas! im trying to learn about stocks. i suck. so i "aquired" (arrrg!) some timothey skyes dvds on penny stock and am watching them right now to learn! i was wondering is there anyone on this forum would likes stocks. (aka do u like making money...?) and if so u wanna maybe link up and see if we can exchange some info??  i would love to create a groupchat between multiple members! if so say "yes i would like too" at the end of you comment and i will try to see what i can do! haha thanks guys!

i use think or swim as my broker and i have some knowledge on stocks so ye! 

Learning about stocks is a good, learning about economics is even better. To understand the transfer of money and the effects different policies have on the economy is vital to making educated decisions. Always, ALWAYS take advice you see in those "Learn Penny Stocks" videos with a pinch of salt, there is no such thing as a trading plan that is guaranteed to make you money. All those websites that sell or teach you a get rich quick plan is a waste of money from my point of view. It's always better to learn the fundamentals of trading stocks then to formulate your own plan and opinion on how to react to the market. 

 

Penny stocks... often are linked to the idea of getting rich quick. A lot more people lose money on penny stocks than they gain.

 

Here's a copy paste of what I usually post in trading threads:

 

My rules cover Day Trading not long term investing. 

Alright here are some rules you need to set. 

1. Never play with money you can't afford to lose

2. Make a plan and stick to it, don't let emotions get in your way

3. Do extensive research in the companies you invest in(competitors, products, manufacturing, supply, demand, profit margin)

4. Take analyst's news articles with a pinch of salt

5. Keep calm and maintain good mental control in trading sessions(If your not feeling well then sit out)

6. Observe and Analyze market mentality and go with the flow for maximum profit(learn to take advantage of other trader/investor emotions)

7. Learn both Technical and Fundamental readings(Fundamentals are always king)

 

Day Trading is not gambling and is not a get rich fast scheme. It requires good economic knowledge, extensive research, mental control, and timing.