Investing in the stock market - Discussion

[AriGold2.0]

The one that I want to really sink some money into is Square SQ.

 

I believe in anything Jack Dorsey does, the guy just wins at life. I personally use Square for my business and it's a mostly flawless program.

 

Also they were approved to start opening banks, the 1st one will be next year in Utah.

 

 

[NucksPatsFan]

13 minutes ago, Warhippy said:

I have no idea what slack is lol but sure?

https://slack.com/intl/en-ca/

[inane]

13 minutes ago, AriGold2.0 said:

The one that I want to really sink some money into is Square SQ.

 

I believe in anything Jack Dorsey does, the guy just wins at life. I personally use Square for my business and it's a mostly flawless program.

 

Also they were approved to start opening banks, the 1st one will be next year in Utah.

 

 

I have about 100 shares, big fan, want to get more. 

[TGokou]

So S&P dropped off it's 75 day moving average with huge volume the other day. I'm expecting a retest sometime next week. If it doesn't clear I'm expecting a steady drop. If it clears expect it to test the 200 day moving average at around 3000. 

[nuckin_futz]

2 hours ago, NucksPatsFan said:

@nuckin_futz @AriGold2.0 @Warhippy @CBH1926@HI5 @I.Am.Ironman and anyone else I missed

 

Would you be interested in creating a Slack group to share investing tips, good buys in the moment, etc. ?  

I mainly trade currencies these days. With some index futures and commodity futures thrown in for good measure. So I don't know if I'd be of much use. My days of heavily day trading stocks were from 1998-2015. I don't trade many stocks these days unless I get an itch I can't scratch.

 

 

[I.Am.Ironman]

3 hours ago, NucksPatsFan said:

@nuckin_futz @AriGold2.0 @Warhippy @CBH1926@HI5 @I.Am.Ironman and anyone else I missed

 

Would you be interested in creating a Slack group to share investing tips, good buys in the moment, etc. ?  

Thanks for the offer, it is a good idea, but i don't feel comfortable being part of an exclusive group, especially since this isn't my specialty or profession. I think, for me, the open forum (CDC) is well suited. Sharing is caring and all that jazz, y'know?

[NucksPatsFan]

1 hour ago, nuckin_futz said:

I mainly trade currencies these days. With some index futures and commodity futures thrown in for good measure. So I don't know if I'd be of much use. My days of heavily day trading stocks were from 1998-2015. I don't trade many stocks these days unless I get an itch I can't scratch.

 

 

 

12 minutes ago, I.Am.Ironman said:

Thanks for the offer, it is a good idea, but i don't feel comfortable being part of an exclusive group, especially since this isn't my specialty or profession. I think, for me, the open forum (CDC) is well suited. Sharing is caring and all that jazz, y'know?

 

That's fair. I know we have a very active NFL thread but a few of us also have a slack group just to talk more "instantly" as not everyone is on CDC every day. 

[Warhippy]

1 hour ago, NucksPatsFan said:

 

 

That's fair. I know we have a very active NFL thread but a few of us also have a slack group just to talk more "instantly" as not everyone is on CDC every day. 

I'm kind of with the rest, this seems to be the only sober thread in the off topic section and it's free from political or sickness talk and that's a breath of fresh Covid if ever Justin Trudeau legislated us some

 

[Guest]

8 hours ago, NucksPatsFan said:

 

 

That's fair. I know we have a very active NFL thread but a few of us also have a slack group just to talk more "instantly" as not everyone is on CDC every day. 

I'm a lurker man, don't cut me out!   

[HI5]

19 hours ago, NucksPatsFan said:

@nuckin_futz @AriGold2.0 @Warhippy @CBH1926@HI5 @I.Am.Ironman and anyone else I missed

 

Would you be interested in creating a Slack group to share investing tips, good buys in the moment, etc. ?  

I’m on slack 24/7 for both my work channels, might end up becoming a bit more distracting for me. 
 

I find it’s easier to just sift through this thread when I’ve got some down time between things. 
 

Appreciate the offer though, slacks awesome for these kinds of things. 

[HI5]

18 hours ago, AriGold2.0 said:

The one that I want to really sink some money into is Square SQ.

 

I believe in anything Jack Dorsey does, the guy just wins at life. I personally use Square for my business and it's a mostly flawless program.

 

Also they were approved to start opening banks, the 1st one will be next year in Utah.

 

 

I haven’t researched this market much, but ive heard theirs a Canadian company in the mix with Square, called Lightspeed (LPSD.TO).

 

Check em out if you’re interested. 

[AriGold2.0]

1 hour ago, HI5 said:

I haven’t researched this market much, but ive heard theirs a Canadian company in the mix with Square, called Lightspeed (LPSD.TO).

 

Check em out if you’re interested. 

Ohh, never heard of them. I will forsure be checking them out. Thanks!

-----------------------

Buffett's Berkshire Hathaway reports nearly $50 billion loss

 

Not the news we want to see this weekend.. We could see another tank on Monday, ugh...

 

[Boudrias]

15 hours ago, Warhippy said:

I'm kind of with the rest, this seems to be the only sober thread in the off topic section and it's free from political or sickness talk and that's a breath of fresh Covid if ever Justin Trudeau legislated us some

 

None political only because we are soft peddling the debt fallout of this event and how that debt will be paid for. It will take decades. We assume that governments will continue to be able to fund this debt. The numbers don't work now so how it will look in June is scary. 

 

The thing about investing is that you have to keep an open mind, look at new ideas and you have no choice but to live with the results. 

 

[NucksPatsFan]

Has anyone looked into purchasing oil futures contracts and holding them for a while?

[HI5]

1 hour ago, NucksPatsFan said:

Has anyone looked into purchasing oil futures contracts and holding them for a while?

I don’t know enough about them to make a purchase. But I was following HOU.TO for the past few weeks and theirs a lot of shady stuff going on. 
 

The amount of changes to the etf and reverse splits. It just seems like a massive gamble at this point for me.

[nuckin_futz]

2 hours ago, NucksPatsFan said:

Has anyone looked into purchasing oil futures contracts and holding them for a while?

Depends on your definition of "awhile". Technically you can put an oil contract expiry out as far as 9 years. But no one does that and those contracts trade zero volume. I doubt you could even find a broker who would offer those products for trade.

 

Most brokers will only offer contracts for trade with expiry's out a few months. The farther out you put the expiry the less volume the contract will trade.

 

I suppose if you want to be perpetually long oil you could always take delivery.

Edited May 2, 2020 by nuckin_futz

[AV's Coin]

22 hours ago, nuckin_futz said:

I mainly trade currencies these days. With some index futures and commodity futures thrown in for good measure. So I don't know if I'd be of much use. My days of heavily day trading stocks were from 1998-2015. I don't trade many stocks these days unless I get an itch I can't scratch.

 

 

Im likely to never be a day trader but I am curious about it.

 

Would you care to explain why you stopped (no worries if you dont)?

 

 what does it take to be a day trader?

 

Any online resources or books you recommend?

[AriGold2.0]

57 minutes ago, AV's Coin said:

Im likely to never be a day trader but I am curious about it.

 

Would you care to explain why you stopped (no worries if you dont)?

 

 what does it take to be a day trader?

 

Any online resources or books you recommend?

Watch this - https://www.youtube.com/watch?v=jmoOrgTP5XQ

 

 

Edited May 2, 2020 by AriGold2.0

[sassbs]

Anyone have thoughts on “SmileDirectClub” 

 

One of Warren buffet’s go to stocks...

[nuckin_futz]

1 hour ago, AV's Coin said:

Im likely to never be a day trader but I am curious about it.

 

Would you care to explain why you stopped (no worries if you dont)?

 

 what does it take to be a day trader?

 

Any online resources or books you recommend?

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.

 

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 .....

 

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.