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Investing in the stock market - Discussion

AV's Coin

By AV's Coin
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Warhippy Canucks Hall-of-Famer

Warhippy

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Just now, KoreanHockeyFan said:

Yep, looks like I'm going to wait for the dust to settle on this one. Wait for the day traders to scrape up whatever short-term gains they're trying to get.

Had my web broker not screwed me on this I'd be up almost 25% on this today lol.

 

Now I have to wait and hope it dips back down to $18.40 for my margins to stay intact or accept I'll be risking those margins and hoping for the best

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Warhippy Canucks Hall-of-Famer

Warhippy

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Good news out of Ontario and Manitoba today too.  PWM, or Power Metals has had incredible results in their sampling for caesium related deposits.  They currently own and hold the only known locations for caesium in Canada.  With only 3 known mines in the world this could be crucial especially with 5g needs about to take off.  

 

https://www.powermetalscorp.com/news/2020/power-metals-provides-update-on-cesium-development/

 

https://finance.yahoo.com/quote/PWM.V/

 

 

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AriGold2.0 Abbotsford Star

AriGold2.0

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Posted
3 hours ago, inane said:

What's up with facedrive? Up 31% today, 70% over past 5 days! 

Lightspeed has huge exposure to the restaurant and hospitality sector, a segment that has been decimated in the recent past. However, as governments look to restart their economies soon, it is time to be bullish on a stock that has an expanding addressable market and robust growth metrics.

https://www.fool.ca/2020/05/11/top-tsx-tech-stocks-for-may-2020/

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Boudrias Canucks All-Star

Boudrias

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Posted
22 minutes ago, AriGold2.0 said:

Lightspeed has huge exposure to the restaurant and hospitality sector, a segment that has been decimated in the recent past. However, as governments look to restart their economies soon, it is time to be bullish on a stock that has an expanding addressable market and robust growth metrics.

https://www.fool.ca/2020/05/11/top-tsx-tech-stocks-for-may-2020/

BIPC up 8% today. $6 per share more than BIP.U. The Americans must be buying the corp. 

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AV's Coin Canucks Regular

AV's Coin

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On 5/2/2020 at 6:52 PM, nuckin_futz said:

Why did I stop day trading stocks? Lots of reasons. I guess ultimately I was getting a little burnt out. I mean there's day trading and then there's day trading. Most people's concept of day trading is a guy sitting at home maybe doing 5 or 6 trades a day. Trading a few thousand shares a day. In my heyday I was averaging about 15-20 million shares a day. Usually no less than 5 million shares/day. I estimate I've probably traded something like 7-9 Billion shares overall. All manually, nothing automated.

 

17 years of day in and day out is pretty taxing. Changing market structure as well. Market structure really started changing around 2011-12. Moving from more of a traditional market maker system to letting HFT's (High Frequency Trading algos) run the show. I grew tired of getting sub pennied and fighting algorithms for fills. I'd love to tell you it's as simple as putting your order in the cue and waiting for a fill. It is not.

 

I had always traded currency markets and futures markets on the side and decided to concentrate on them. There's a lot fewer things to track and analyze. And they offer great liquidity. Plus a decent chunk of what I do now is automated. I guess you could say I got kinda lazy. B)

 

What does it take to be a day trader? I could probably write a couple pages answering this one. Firstly, the most important thing it takes above all else is DISCIPLINE. If you don't have that you WILL fail. You must be able to divorce your ego to be successful. If the desire to be right is greater than the desire to make money, you will fail.

 

What else does it take? ... in no particular order

a) Sufficient capital.

b) A solid game plan. "Plan the trade, trade the plan". An understanding that your #1 goal is not to make money. It's to protect your capital.

c) The right tools. A must have is a DMA (direct market access) platform. If your software does not allow you to choose where to route your order (example: ARCA, BATS, EDGX) you're not in the game. If your software doesn't look like this .....

2018-09-27_12-44-52.gif

 

You have to understand everyone else's does. And that you do not have the proper tools.

 

d) Willingness to trade both sides of the market both long and short.

e) A broker with a very comprehensive short list. You cannot simply short any stock you wish. Your broker must be able to get you a 'borrow'. Or a broker who can arrange for 'locates' for hard to borrow stocks. Usually done for a fee.

f) A real time news feed. You're usually going to have to pay for this. A decent feed can be as little as $30-50/month. All the way up to a Bloomberg Terminal which will run you $24,000 per year.

g) The ability to read charts and a basic understanding of technical analysis.

h) An understanding of where to route your orders and why. An understanding of ECN rebate structure.

i) The best executions at the cheapest prices. Commissions can be a major expense. Money saved is money that goes directly into your pocket and not your broker's.

j) Some sort of interactions with other traders/like minded people. Even participation in a thread like this where you can ask questions and bounce ideas off people is invaluable. If someone is going to sit alone at home and day trade they will most likely eventually become undisciplined, they will over trade, they will revenge trade, they will lose.  @NucksPatsFan idea of a Slack group is a good idea. It's just not for me. I am already in a few market chats as well as a Skype call during North American market hours with longtime friends who do the same thing. My dance card is full. But I reiterate, interactions with like minded people is invaluable.

 

My all time favorite quote regarding day trading "For most people learning to trade is like a trip to Hell. The Devil market will torture you in every conceivable way, searching out every weakness, stretching every nerve to it's breaking point. It will throw you an occasional bone to lure you deeper into the abyss only to strip off more flesh until you are a quivering shell of your former self. Once you get past that stage it's a lot of fun."

 

As for online resources or books. ....

 

If anyone is interested in learning more about market structure. I highly recommend Michael Lewis' book "Flash Boys". Lewis is the author of "The Big Short" "Moneyball" "The Blind Side" so he's very entertaining. He knows how to take a relatively boring subject and keep the reader turning pages. It's all about HFT's and algorithms.

 

Even managed to find you all an online copy. ......  https://archive.org/details/B-001-000-192/mode/2up

 

I also recommend Mark Douglas' "Trading In The Zone" it's a very good book. Mostly about mindset. https://github.com/abhacid/cAlgoBot/blob/master/Books/Trading in the Zone - Mark Douglas (2001) A202.pdf

 

There are an endless amount of online resources with good information. Youtube can be a treasure trove, and it can also be a complete waste of time. Beware of anyone selling anything. Twitter can also be a decent source if you can find the right people to follow.

 

Sites like www.elitetrader.com can be useful. It's a message board where you can ask all types of market related questions. I stopped posting there maybe 8 years ago as the signal to noise ratio was getting out of hand. But I poke my head in there every now and then and it can still be worthwhile.

 

Nuckin Futz

 

Sorry for the late response. This has to be one of the best replies I have ever seen on CDC :)

 

Thanks for the information. I have been digesting some of it and have started watching some youtube videos on the subject. Its a whole new area I never knew much about.

 

Thanks!

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AV's Coin Canucks Regular

AV's Coin

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Has anyone read this book?

 

Its a good read. My dad owned it and I read it twice.

 

A #1 bestseller from coast to coast, Den of Thieves tells the full story of the insider-trading scandal that nearly destroyed Wall Street, the men who pulled it off, and the chase that finally brought them to justice.

Pulitzer Prize–winner James B. Stewart shows for the first time how four of the eighties’ biggest names on Wall Street—Michael Milken, Ivan Boesky, Martin Siegel, and Dennis Levine —created the greatest insider-trading ring in financial history and almost walked away with billions, until a team of downtrodden detectives triumphed over some of America’s most expensive lawyers to bring this powerful quartet to justice.

 

Den of Thieves

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HI5 Canucks Regular

HI5

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Posted
6 hours ago, I.Am.Ironman said:

anyone else have issues buying VTIQ through an online brokerage? I use CIBC investors edge in TFSA but it didn't show up in the symbol search yesterday.

 

6957BA83-6CE4-4A0B-B6FF-57986B572BF2.jpeg

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Warhippy Canucks Hall-of-Famer

Warhippy

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Wtf TD WebBroker....dumped 3k into VTIQ before the end of yesterday and it's not in my portfolio

 

Not going to be trusting my bank for this anymore I think.  Nothing but outages and issues

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Warhippy Canucks Hall-of-Famer

Warhippy

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Just now, KoreanHockeyFan said:

Questrade or Wealthsimple the way to go my friend.

I'll be moving in to something else.  Took a full day due to an outage to access my account, then the purchases I made yesterday didn't actually go through at all.

 

Is it worth waiting for a retraction....

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