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2 hours ago, BoKnows said:

I want to get into trading.  I'm pretty nervous to get started though.  I'm thinking of using Wealth Simple (does anyone here use them to trade?).  I'm going to start with a laughable amount of capital, because I'm 20 and need money for tuition.  I'm thinking of starting with $50.  Anyone have actual advice, I went to reddit for advice and everyone just said that I was idiot :lol: 

Wealthsimple seems alright and with $50 probably best for you at this time with the commission free trading. It lacks a lot of stocks, but that doesnt mean theres not a decent selection. most stocks you see people chat about on here aren't on it, but I'd reccomend using it atleast until u got the hang of trading

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33 minutes ago, I.Am.Ironman said:

I have a question for those more experienced.. What weight do you put into how over bought/ over sold something is based on the moving average?

 

For example this is NKLA today with the Moving Average line... looks like it is over bought on the day and week if you use that as the metric.

Day:

image.png.deb47e58457d970b4ab46e42a0def3ca.png

 

Week:

image.png.17d98bfdd9bcd471dcc5d6071cd4b0ed.png

What moving average have you put in there and why?

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15 minutes ago, nuckin_futz said:

What moving average have you put in there and why?

Simple moving average. That kind roots into another question is what moving average is most valuable to use? I used SMA because it seems to be commonly used.. no other reason. I need to learn more about this side of things

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1 minute ago, I.Am.Ironman said:

Simple moving average. That kind roots into another question is what moving average is most valuable to use? I used SMA because it seems to be commonly used.. no other reason. I need to learn more about this side of things

 I prefer SMA's as well. What I was asking is what numerical value on that MA? And why?

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3 hours ago, HI5 said:

 

@nuckin_futz Any insight in regards to where the markets headed or what to keep watch for? Things seem to be going a little too well as of late besides today. 

This is a loaded question. There's many things to keep an eye on to gauge market direction. Economic data, Central bank policy, bonds/yields, gold, US dollar, oil etc. Usually they all have a somewhat symbiotic relationship. Lately we are seeing a lot of sector rotation that doesn't make much sense. Seems like the markets as a whole are undecided on direction so equities are taking the lead. Lead by the guiding hand of Federal reserve policy.

 

By 'things going too well' I assume you mean this thread and the endless pump and dumps? Pump and dumps have been around for ages. But this time is a little different. The velocity of the moves combined with the obscene volume is a new wrinkle. For example, yesterday 500 million shares of bankrupt HTZ traded. 500 million is an awful lot of volume. Perhaps not in dollar volume but in absolute volume. It literally makes no sense. They have $20 billion dollars of debt and have told everyone they're fracked. Why are people buying this? If Carl Ichan threw in the towel and dumped his entire HTZ position, what makes people think they are smarter than him? It's just gambling. Financial musical chairs. The dumb money will be the ones who lose.

 

You have a number of factors contributing to this. Huge amounts of liquidity, commission free trading (in the USA anyway), and a huge influx of new players (mostly Covid refugees) into the markets looking to strike it rich. Most of these people were doing something else in January. They'll probably be doing something else next January. Here is a research note from Deutsche Bank about sports bettors with nothing to do these days making their way into financial markets.I trust since this is a sports website that probably everyone here has placed a sports wager or two in their lifetimes that many will find it interesting.

 

https://www.axios.com/sports-betting-stock-market-surge-0e945773-d676-4f0a-a6a0-a0f92611b10b.html

 

Just read everything I wrote. Not even sure if I answered your question. lol

 

Edited by nuckin_futz
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37 minutes ago, nuckin_futz said:

 I prefer SMA's as well. What I was asking is what numerical value on that MA? And why?

I thought the SMA is an indicative measure of general performance over a time frame (average of stock price / period of time). I'm confused by your question

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21 minutes ago, I.Am.Ironman said:

I thought the SMA is an indicative measure of general performance over a time frame (average of stock price / period of time). I'm confused by your question

Yes it is but you have to program in what time frame you want. For example, below is an hourly chart of S&P futures. The blue line is a 100 SMA. The average price over the last 100 hours. The red line is a 200 SMA. The average price over the last 200 hours. I have chosen these two time frames for specific reasons.

 

Different people chose different time frames. 2 buddies of mine who day trade very actively like using a 50 SMA as they trade stocks on a shorter time frame.

 

What is the time frame on your SMA?

 

es.jpg

 

Blue line is a little difficult to see in this screen grab.

Edited by nuckin_futz
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20 minutes ago, nuckin_futz said:

This is a loaded question. There's many things to keep an eye on to gauge market direction. Economic data, Central bank policy, bonds/yields, gold, US dollar, oil etc. Usually they all have a somewhat symbiotic relationship. Lately we are seeing a lot of sector rotation that doesn't make much sense. Seems like the markets as a whole are undecided on direction so equities are taking the lead. Lead by the guiding hand of Federal reserve policy.

 

By 'things going too well' I assume you mean this thread and the endless pump and dumps? Pump and dumps have been around for ages. But this time is a little different. The velocity of the moves combined with the obscene volume is a new wrinkle. For example, yesterday 500 million shares of bankrupt HTZ traded. 500 million is an awful lot of volume. Perhaps not in dollar volume but in absolute volume. It literally makes no sense. They have $20 billion dollars of debt and have told everyone they're fracked. Why are people buying this? If Carl Ichan threw in the towel and dumped his entire HTZ position, what makes people think they are smarter than him? It's just gambling. Financial musical chairs. The dumb money will be the ones who lose.

 

You have a number of factors contributing to this. Huge amounts of liquidity, commission free trading (in the USA anyway), and a huge influx of new players (mostly Covid refugees) into the markets looking to strike it rich. Most of these people were doing something else in January. They'll probably be doing something else next January. Here is a research note from Deutsche Bank about sports bettors with nothing to do these days making their way into financial markets.I trust since this is a sports website that probably everyone here has placed a sports wager or two in their lifetimes that many will find it interesting.

 

https://www.axios.com/sports-betting-stock-market-surge-0e945773-d676-4f0a-a6a0-a0f92611b10b.html

 

Just read everything I wrote. Not even sure if I answered your question. lol

 

The benefit of financial gambling over sports gambling.... the former is potentially tax deductible when you lose, lol.  

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29 minutes ago, nuckin_futz said:

Yes it is but you have to program in what time frame you want. For example, below is an hourly chart of S&P futures. The blue line is a 100 SMA. The average price over the last 100 hours. The red line is a 200 SMA. The average price over the last 200 hours. I have chosen these two time frames for specific reasons.

 

Different people chose different time frames. 2 buddies of mine who day trade very actively like using a 50 SMA as they trade stocks on a shorter time frame.

 

What is the time frame on your SMA?

 

es.jpg

 

Blue line is a little difficult to see in this screen grab.

Mine was at 50.. Is the hour set as trading hours or calendar hours (ie. 50 hours = 9ish trading days, or 2 calendar days)?

 

And why is it that you choose 100 & 200? What are the specific markers you look for in either line? I assume the longer the SMA the more suitable it is for long term outlook and for long term holds?

 

Thanks for the explanation, always appreciate your input.

Edited by I.Am.Ironman
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48 minutes ago, nuckin_futz said:

 

The velocity of the moves combined with the obscene volume is a new wrinkle.

 

Anyone of you guys playing in today's roller coaster?

 

 

imrn.jpg

 

65 million shares traded with 1 hour left in the day on a float of 3.2 million. :lol:

Edited by nuckin_futz
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2 hours ago, inane said:

Got some at $3.99 :)

I’m reading mixed reviews. A lot of people are saying it’s just a pump and dump. Unless. Kids don’t even like the product... and on the other side, people love it.   On the 15th we will know for sure :)   I see a lot of value to genius products 

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