Yeah I use it every day. If anyone is interested in a good scanner during market hours, my favorite is Trade-Ideas.
SVTP stock pick thread.
- Thread starter STAMPEDE3
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Yeah I use it every day. If anyone is interested in a good scanner during market hours, my favorite is Trade-Ideas.
TWER - Stop is now 2.50 area, will add above 2.90. Needs volume, but can really move if it gets some momo.
CRS - Still long 1,000 shares from $32ish. It's formed a perfect flag on the daily and is just about to break out over the high. Usually I would've scaled in more as it broke out of the actual flag, but with it being earning season I'm being a bit more cautious. Earnings are being posted tomorrow prior to market open. Will be watching very closely. If I get a good pop, I'll scale in more as it breaks above the flag/range.
Overall Market - Earnings have been pretty solid from major banks & tech, but I'm still a little hesitant, I can see a good pull back coming considering we're at new highs tied in with profit taking.
Market was sideways today but TRIN shows volume was flowing much more into declining stocks. TICK depicts a sideways day. For now, nothing overnight(other than my CRS position which is in my 401K). I do think that after some normal fluctuation plays out, we could definitely continue to new highs. We finally had the breakout, and with strong earnings, it could certainly propel it higher.
Overall Market - Earnings have been pretty solid from major banks & tech, but I'm still a little hesitant, I can see a good pull back coming considering we're at new highs tied in with profit taking.
Market was sideways today but TRIN shows volume was flowing much more into declining stocks. TICK depicts a sideways day. For now, nothing overnight(other than my CRS position which is in my 401K). I do think that after some normal fluctuation plays out, we could definitely continue to new highs. We finally had the breakout, and with strong earnings, it could certainly propel it higher.
If someone who had absolutely ZERO knowledge whatsoever regarding the stock market wanted to pick up a book to begin learning (like a 'Stock Market for Dummies'), could some of you pros point that person in the right direction?
I didn't want to start a thread dedicated to just this question, so I hope the mods are okay with me asking in here.
I didn't want to start a thread dedicated to just this question, so I hope the mods are okay with me asking in here.
Are you looking to invest, or to trade?
If you're investing, pick up "The Intelligent Investor" by Benjamin Graham. It's a BO-RING read, but has a ton of info. As a beginner, you'll probably be looking stuff up on every page just to understand what it's saying, but it's an awesome crash course in investing, and you'll have a really good foundation afterwords. I read it twice. Once when I was a newbie, and again after I had some time in the markets both investing & trading. Another good one is "Stock Market Investing" by Jason Kelly. It's not so dry as "The Intelligent Investor" and gives some good info as well. If you're just into trading, you could read "A Beginner's Guide To Day Trading Online", by Toni Turner. It provides a really good foundation on trading, and how it differs from investing.
One MUST READ, is Market Wizards by Jack D. Schwager. I've read that one quite a few times just because I find it really enjoyable, and it grounds me when I'm having a rough time with my trading. It's not filled with technical information so-to-speak, but it's a bunch of interviews with a lot of the top traders of our time. Really interesting stuff.
When I became interested, I started by watching youtube videos from the "guru's" on there, and then followed it up by reading the books I mentioned(along with a few others that really only say the same stuff), and a few books dedicated strictly to chart analysis. It's a long road, regardless if you're investing of trading. You can't halfa$$ it, or you're assured failure. Just an FYI. Have fun
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Are you looking to invest, or to trade?
If you're investing, pick up "The Intelligent Investor" by Benjamin Graham. It's a BO-RING read, but has a ton of info. As a beginner, you'll probably be looking stuff up on every page just to understand what it's saying, but it's an awesome crash course in investing, and you'll have a really good foundation afterwords. I read it twice. Once when I was a newbie, and again after I had some time in the markets both investing & trading. Another good one is "Stock Market Investing" by Jason Kelly. It's not so dry as "The Intelligent Investor" and gives some good info as well. If you're just into trading, you could read "A Beginner's Guide To Day Trading Online", by Toni Turner. It provides a really good foundation on trading, and how it differs from investing.
One MUST READ, is Market Wizards by Jack D. Schwager. I've read that one quite a few times just because I find it really enjoyable, and it grounds me when I'm having a rough time with my trading. It's not filled with technical information so-to-speak, but it's a bunch of interviews with a lot of the top traders of our time. Really interesting stuff.
When I became interested, I started by watching youtube videos from the "guru's" on there, and then followed it up by reading the books I mentioned(along with a few others that really only say the same stuff), and a few books dedicated strictly to chart analysis. It's a long road, regardless if you're investing of trading. You can't halfa$$ it, or you're assured failure. Just an FYI. Have fun
Great info here!
Another two GREAT books I would highly recommend are "Richest Man in Babylon" and ESPECIALLY "Reminiscences of a Stock Operator". The biggest thing in trading is mastering your own emotions, and those two books are excellent in regards to that.
x10000, another great read!
Also,
Awesome, I greatly appreciate the information - for now I just ordered the Toni Turner Day Trading book, as I think I want to try my hand at that first and then move into long term investments (not sure if that's a 'dumb' strategy, I just want something I could possibly make quick money on to start off with).
Hopefully in a month or so I'll be in here sharing/using some of your tips
Hopefully in a month or so I'll be in here sharing/using some of your tips
Awesome, I greatly appreciate the information - for now I just ordered the Toni Turner Day Trading book, as I think I want to try my hand at that first and then move into long term investments (not sure if that's a 'dumb' strategy, I just want something I could possibly make quick money on to start off with).
Hopefully in a month or so I'll be in here sharing/using some of your tips
Look elsewhere. You won't find quick money in stocks(as a beginner), unless you want to quickly wave goodbye to it. It took me a solid year before I was consistently making money in the markets day trading. In my first few weeks of trading I lost thousands of dollars. I was too eager, too confident, and didn't have nearly enough screen time. Long-term investing is easier, but is equally as slow, if not more so. I strongly urge you to spend at least 3 months watching the markets, understanding how the global economy and news affects it(and how also it doesn't), get screen time learning chart patters and behaviors. There is A LOT to learning this trade(pun intended), and if you want to keep the money you have, you'll take it slow. Trust me.
In regards to day trading first and then doing longer-term investing - I really don't think it makes a difference, as long as you understand that the two really are not related. As a day trader, we can make money off sinking ships, and often times do. I have no qualms going long in a stock that I fully expect to plummet, because I can expect to be out within a few minutes or hours. Investing is totally different. It requires a lot more background and research. You have to understand the company's financials, leadership, forecasts, industry, sector, competition, etc., etc., The list goes on and on and on. I have very few long term investments. I will usually hold a swing trade to offset potential losses during day to day trading. I'll hold a swing trade for up to a few weeks depending on what the stock is doing.
cliff notes -
You won't find quick money in stocks without putting in a lot of screen time and losing quite a bit at the start(you might get lucky at first, but it won't last)
Understand the difference between trading & investing - it doesn't matter what you do first, but be warned, being a good trader won't mean you're a good investor, and vice versa
Get a lot of screen time, study study study. Don't just jump in.
I'm not trying to deter you from doing this, it's a TON of fun. But it's also unbelievably difficult to grasp and it's a steep learning curve.
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^Thanks for saving me the time. I tried making money quick at the beginning. Take a look earlier in this thread and see how that turned out lol. You have to realize that 95%+ of people lose money trading stocks on their own. If it were as easy as reading a book, everyone would be a billionaire. I HIGHLY recommend you start with Reminiscences of a Stock Operator. That will open your eyes more than any trading specific book.
I should have clarified when I said 'quick money'...I just meant not long term investments.
I completely understand that there will be a long learning curve and that it will take a lot of patience, loss, and studying the market before I could potentially be making any profits.
Thanks again fellas!
I completely understand that there will be a long learning curve and that it will take a lot of patience, loss, and studying the market before I could potentially be making any profits.
Thanks again fellas!
No problem. Best thing I can suggest is open a TD Ameritrade account for free, download ThinkOrSwim for free, and you can use their paper trade feature using tje platform. If you put $500- $1k in your account you can call and ask them to make your paper trade account have live quotes instead of a 15-min delay. That is the best/safest way to get started.
Happy to help! I've seen a lot of friends go down the path thinking they can literally just make thousands a day without any real blood sweat and tears, not the case. Just wanted to make sure you didn't have unrealistic expectations. Have fun with it man!
google on the move to $800
I got a call a couple weeks ago, just one though! Expires next week.
Good questions. I've been following this thread with great curiosity for a while. I dabbled around a bit last year and quickly lost 4k. I was too impatient in some areas and too emotional in other areas. Pulled the plug, took my lessons and am focusing on paying off debts for now. No regrets, I still enjoyed the time spent doing it.
Adding all of the previously mentioned books to do some reading while I'm away at work for weeks on end. With the Alaska time zone difference and my work schedule, it might not be feasible but I'd enjoy understand way more about trading and economics.
Thanks for posting the advice guys, this is a wonderful thread.
What a crappy day. Everything I've been watching has done squat. Volume is all flowing into declining stocks, but tick is sideways. Too sideways for me to be comfortable with anything. I'll sit on my hands today.
Yeah very slow day, and no fun earnings after close today. I saw some call buying activity in GILD this morning and picked up a couple Aug 12 82 Calls @ 0.65 this morning, but that's it.
any thoughts on the overall market? My 401k only allows me to be in funds are closely based on either the DOW, S&P, Gbonds, or a mix of international markets.
I was about to move into the G fund right after we hit the all time high in US markets but I found an article that shows the markets moving up an average of 15% in the 52 week FOLLOWING the market breaking an all time high after 52 weeks below the previous high--hope that makes sense.
I tend to worry when you see oil tanking like this, just not sure its due to the overall economy or not.
Thoughts?
I was about to move into the G fund right after we hit the all time high in US markets but I found an article that shows the markets moving up an average of 15% in the 52 week FOLLOWING the market breaking an all time high after 52 weeks below the previous high--hope that makes sense.
I tend to worry when you see oil tanking like this, just not sure its due to the overall economy or not.
Thoughts?
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