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DayTrader

02/19/2021 03:55

Hello to the new traders: scalping/day trading overview a quick overview also

If some people are interested in the Instagram watchlist and daily picks and some long term companies will be posted you must know this.
Also this might be helpful when you see comments it’s dipping down.


1.We are looking for price and volume starting as early pre-market!

2.We want lots of volume - preferably 500,000+ shares traded by open. I look for 1M+.

3. We want a wide price range - depending on the price of the stock we want a nice range between the high and the low.

For example:
High 2.40, Low 2.00. (A couple of cents between the high and low will not get us the gains we want without taking massive positions.)

4. A gap up from the previous day’s closing price would be nice too. **Example** - closed yesterday at $3.00; opened this morning at $3.50.

Look at the patterns in the pic above ^^^ These are the type of “dips” we are looking for on our scalps. We can scalp on the way up (preferred) or scalp on the way down (riskier).

Either way, we are looking for pivots from red to green like this: picture 1


So when you see comment or I mention that a play is “dipping” down, we are now watching and waiting for the reversal. We know it’s likely ready to reverse by the developing candlesitck patterns. Using your chart of choice (I prefer 3 minute or 5 minute) we wait for the signs like the patterns above.

We can also look to the left of the chart to see if the play bounced there previously.

Double bottom ^^^^ high likelihood it bounces there again. Picture (2)

We can also use Level 2 data ( Nasdaq TotalView for example) to watch the bids and asks. If we see a large bid at previous support levels, then we may feel more confident in the reversal or “bounce” back up. Note: look at the ASKs too. No sense trying to scalp something with a 500K ask two cents higher than your entry.

Entry is key.

Example:SNDL is dipping, support at 2.00, previous bounce at 2.02. Do we enter once it hits 2.02?

NO! We need confirmation that it is going to bounce there again. What is confirmation? Level 2 bid support AND a bullish sign of reversal like picture (3)

Entering before the confirmed reversal is very aggressive. You can do it, but know it is much riskier to trade this way. If the stock has bounced there three times already and we have strong bid support, then I feel better about taking a more aggressive entry, but either way we need to see bullish signs that the stock is reversing and not going to blow below that support area.

Where does the stop loss go? Depends on the quality of the play and your tolerance for risk, but generally speaking the stop loss should go just below the area you thought it may bounce. I like to look for the next area of strong bid support on level 2 and use that as my stop area. REMEMBER if someone says stop loss 2.40 or support 2.40, it is not a hard stop or support… a couple pennies here and there are okay as long as you see signs of reversal.

Scalps are intended to be quicker than a typical day trade as we are capitalizing on very quick pivots. The intention is not to hold longer than necessary to get dem gains.

Note: be careful taking entries at the top of the price range. If a stock keeps pivoting down every time it hits 2.99, then it is probably not a great entry at 2.96 unless you are taking a really large position.

Picture ( 4) shows BEARISH 🐻 PATTERNS


Some people try and time the top; others wait for the red candle or two (and risk giving up a little bit of gains) in order to avoid missing a bigger move up.

I prefer to try and time the top and if it starts to go parabolic I will move my stop up accordingly or add a trailing stop loss.


If anyone is interested on the watchlist or daily watchlist the Instagram is daily market_tips



Hope the guide helps!!! So you can make the best decisions for you and not depend on others. Which is not bad But it is nice to have security
Noticed some tipos so I Re-posted

$SENSEONICS $Tonix$Zomedica Corp $Naked Brand$Ocugen Inc$Castor Maritime Inc $Citius Pharmaceuticals Inc $Ideanomics Inc $GLOBALSTAR
$Avinger
Disclaimer: The comments, opinions and analysis expressed herein are for informational and educational purposes only and shoulk not be considered as individual investment advice or recommendations. Webull is not responsible or liable in any way for comments posted by pur users.

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All Comments(19)

Stimmy trader02/19/2021 12:59
Honestly. The charts matter, so does the company, and so does the timing... if you can read the MACD/Signal... you know the trend. Thing is how low can you enter?

DayTrader02/19/2021 13:06

Thank You for reminding me

DayTrader02/19/2021 13:03

Well yeah but this is mostly based on a quick guide. I was Assuming people new what you described as well maybe i should have put it in. But im slowly putting everything together i had the intention of setting up the explanation and the set up for macd after the vwap but i forgot.

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Bandito02/19/2021 10:18
Thanks

DayTrader02/19/2021 11:15

No problem

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Stocktastic Trading02/19/2021 08:32
Very good info and way to help out some of the new traders!
For those of you bashing him for scalping youre wrong! As traders you should use all types of plays to win / build your profits, and there are a time for each! Ive made plenty of money swing trading, day trading, and scalping... The gains made scalping can be quite substantial if done correctly, but you have got to be fast and know your trading platform and technicals well!!!

DayTrader02/19/2021 11:15

Thanks Everyone has scalped at some point. I mean holding really depends on if a person can for financial reaason. at least now they can kimd of do it safely

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Ashie Beans02/19/2021 07:54
Id rather be a long termer and not some scum sucking leech

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KPC02/19/2021 07:51
I just Blocked people like this so never see it again

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KPC02/19/2021 07:50
Blocked

DayTrader02/19/2021 07:51

Okay

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AuhnWun02/19/2021 07:08
you waste a lot of time babbling

DayTrader02/19/2021 07:15

If it helps someone then it is not babbling to me atleast.

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Primero DIOS02/19/2021 05:40
hello, what is your instagram?

DayTrader02/19/2021 05:51

Hi it is dailymarket_tips

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Tabzoo2102/19/2021 05:08
This is a great post. Thank you

DayTrader02/19/2021 05:12

Im glad it has helped

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sun***com02/19/2021 04:59
right on. clear and concise

DayTrader02/19/2021 05:11

Thank you im glad it helps

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kik***com02/19/2021 04:57
DT you are awesome! Thank you! I never sat through reading a long post. This is a long and educating post Thank you 🙏

DayTrader02/19/2021 05:12

Oh im glad it helps i definitely try to simplify it as much as possible!

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Han***com02/19/2021 04:50
I serached for the instagram cant find it
Are gou sure its
daily market_tips ?

Zombiehunter02/19/2021 09:53

No spaces- @dailymarket_tips

DayTrader02/19/2021 05:08

Oh yes sorry about that

View all 3 replies

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XFMJX02/19/2021 04:39
following

DayTrader02/19/2021 05:12

Glad it helped

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Han***com02/19/2021 04:35
Hands down the most useful post on this platform, maybe even all platforms 🙌
First, you are an angel !
Second, what a genius !!!

DayTrader02/19/2021 07:55

Thank you

Columbidae02/19/2021 04:49

Agreed!!! All the information that I have been trying to patch together in a detailed clear map!

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Stone Investments02/19/2021 04:31
Great advice!!!

DayTrader02/19/2021 05:08

Thank you

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I post on this platform to help you learn. I teach by sharing their experience. I look into the psychology of trading. I can see volume, demand, as it happens.

Rule number one the 25% rule, so you have $1000 to buy X corporation, your first entry is when it dips on whatever day. You use $250. If the stock goes down 10% or more you average down with your second by at 25%. This allows you to average down three times. It’s extremely important if you want to be a profitable trader.

It’s a little different averaging down with options, same entry only on dips and only with 25% of your investment for that position. If your option drops 33% in value you can add a second position averaging down.

I teach many lessons to help those become better traders. I also share exactly what I’m seeing and I use a lot of visual tools and images to help show you all and help you learn.

Please give me a follow on Twitter

I am not a financial advisor, I’m a very smart individual that happens to be very good with patterns charts and numbers. I also know this is a tough time for all of us, and we are all trying to do the best we can. I believe in karma and I’m here to help.

As a play, I see bitcoin going to 53,000 by this weekend and 59,000 by March 12, meaning bitcoin stocks are in action

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My Twitter handle is below, in addition I wanna give a shout out to @Stockdata Where is I look at the psychology of trading demand in volume this gentleman does research, analytics and his DD is off the chartsMatt 03/03/2021 03:31
$GameStop Find it interesting that we closed GameStop at $120 on the dot... I have a feeling they aren’t reporting the correct numbers... something doesn’t seem right... but Im still holding apes!🚀🚀DeMartiniMillionaire 03/03/2021 05:22
$Bitcoin Currently doing its thing, as I predicted 50,000 tomorrow, 53 by the end of the week and 59 by the end of next week, the stocks I like the most are listed in the image below. I would be more than happy to share my entry or my exit strategy all you have to do is ask

I happen to believe the stocks below will go up somewhere between 40 to 80% in the next two weeks based on my bitcoin prediction

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For a good analogy I can pair bitcoin to Tesla, last year tesla went up every day or every other day and made many people millionaires, bitcoin will do the same institutions are finally buying in companies have it on their balance sheet, it’s easy to move money out of countries like China and RussiaMatt 03/03/2021 04:19
$Zomedica Corp
Don’t own any shares yet but plan on it!
Not in for money but to help puppies and all that need all our help!
Like my boy Duke that passed away!
Think about that before you say anything to my comment!
Here’s a pic of him When he was sick and passing I wish with all my heart he where still here with me by my side...Duke 03/03/2021 01:35