Switching things up. I'm going to focus on the loss leaders in the market.
My little wins are adding up. My training stash is moving up by 0.1-0.5% everyday with a few pull backs, but I have a nagging feeling that I am sticking too conservatively to my little moves, dividend capture, and non-greedy sells after little wins. I need to experience a bear market to really get my feet wet. Will I have enough cash and know enough to buy as it is going down?
My biggest wins were fast moving stocks that were not my best value plays. Most of my buy ranges are getting blown out of the water with the roaring market so I can't get position. My bias is always to get a deal, so I don't want to buy when it seems everyone wants to buy, buy, buy... yet I suppose this is the trend that true day traders like to see, when buying. I don't know how to read overbought sentiments in the market yet -- I am getting a feel for the moving averages and technical analysis of stocks, based on some blogs written by professional traders.
In order to get better tools at my disposal, I got a Stock Master app on my iPhone. It has a lot of features, with moving average lines, volumes, etc that I don't on Robinhood. I am quickly outgrowing Robinhood.
Multiple reasons:
1. There is too much slippage, where I accidentally hit market buy on AUBN for example, when it was $26.50 or so, and it gave me the stock at $27.25. The market hasn't come up to that since I bought. There was no way I would have bought at $0.75 cents over my purchase intention, when the dividend was only $0.23. This is not the only buy that occurred like this. Lots of sell positions are not updating when the limit sells should activate and the market is well past my sell positions.
Not only is this just a mistake or a delay in processing, it is actually a retail brokerage's ace up their sleeves, that allows them to aggregate all of the clients' positions, and make trades beforehand to make most money on their funds -- which is counter to their small retail clients. See? I am learning something new everyday.
2. The 3-day delay holding up bulk of my money is wearing on me. Sitting 3 business days, anytime I sell means I watch my buy positions I would have taken go away in the meantime. I also get really annoyed by the "get Robinhood Instant" thing that pops up every time I do anything.
3. I can't short. I don't have capability to short or do any margin trades. I am not getting into that until I've grown my stash to at least 25K. But I wish I could flirt with it and just see.
4. The simple and nice screen is getting old. I need to know more and need to constantly look elsewhere for the data.
5. When I purchase the same stock at multiple times, they average my buy price and stocks. This is good for just straight buying and selling, but the way I record and most places record, for tax purposes for example, to calculate loss, etc, you need them separated when you sell partial.
6. Some of my dividends on stocks I bought before the ex-date are not showing up even after the record date. I don't understand. I am giving it more time, and it's only for a couple of stocks, so maybe they will show up later?
7. I wish I can organize the stocks I am tracking into folders. Right now they are all in a long scrolling screen so I go down, down, down forever...
8. I wish I could see 1 week progress, not just 1 day, 1 month, 3 months, etc.
I know on of the biggest failures of traders, is not sticking to a plan, but how do you learn different strategies, if you don't try them? Right?
So here I go bravely to lose my shirt and my husband's too. Just kidding.
This week I am throwing a new thing into the mix. I went and looked up each of the hundred or so loss leaders YTD and stocks hitting their 52 wk lows. In each case, I looked at the news, looked at the range, and looked at recent ratings. I ended up with a couple of companies that are still risky, but that I am going to buy a lot of stocks of... Wish me luck.
My little wins are adding up. My training stash is moving up by 0.1-0.5% everyday with a few pull backs, but I have a nagging feeling that I am sticking too conservatively to my little moves, dividend capture, and non-greedy sells after little wins. I need to experience a bear market to really get my feet wet. Will I have enough cash and know enough to buy as it is going down?
My biggest wins were fast moving stocks that were not my best value plays. Most of my buy ranges are getting blown out of the water with the roaring market so I can't get position. My bias is always to get a deal, so I don't want to buy when it seems everyone wants to buy, buy, buy... yet I suppose this is the trend that true day traders like to see, when buying. I don't know how to read overbought sentiments in the market yet -- I am getting a feel for the moving averages and technical analysis of stocks, based on some blogs written by professional traders.
In order to get better tools at my disposal, I got a Stock Master app on my iPhone. It has a lot of features, with moving average lines, volumes, etc that I don't on Robinhood. I am quickly outgrowing Robinhood.
Multiple reasons:
1. There is too much slippage, where I accidentally hit market buy on AUBN for example, when it was $26.50 or so, and it gave me the stock at $27.25. The market hasn't come up to that since I bought. There was no way I would have bought at $0.75 cents over my purchase intention, when the dividend was only $0.23. This is not the only buy that occurred like this. Lots of sell positions are not updating when the limit sells should activate and the market is well past my sell positions.
Not only is this just a mistake or a delay in processing, it is actually a retail brokerage's ace up their sleeves, that allows them to aggregate all of the clients' positions, and make trades beforehand to make most money on their funds -- which is counter to their small retail clients. See? I am learning something new everyday.
2. The 3-day delay holding up bulk of my money is wearing on me. Sitting 3 business days, anytime I sell means I watch my buy positions I would have taken go away in the meantime. I also get really annoyed by the "get Robinhood Instant" thing that pops up every time I do anything.
3. I can't short. I don't have capability to short or do any margin trades. I am not getting into that until I've grown my stash to at least 25K. But I wish I could flirt with it and just see.
4. The simple and nice screen is getting old. I need to know more and need to constantly look elsewhere for the data.
5. When I purchase the same stock at multiple times, they average my buy price and stocks. This is good for just straight buying and selling, but the way I record and most places record, for tax purposes for example, to calculate loss, etc, you need them separated when you sell partial.
6. Some of my dividends on stocks I bought before the ex-date are not showing up even after the record date. I don't understand. I am giving it more time, and it's only for a couple of stocks, so maybe they will show up later?
7. I wish I can organize the stocks I am tracking into folders. Right now they are all in a long scrolling screen so I go down, down, down forever...
8. I wish I could see 1 week progress, not just 1 day, 1 month, 3 months, etc.
I know on of the biggest failures of traders, is not sticking to a plan, but how do you learn different strategies, if you don't try them? Right?
So here I go bravely to lose my shirt and my husband's too. Just kidding.
This week I am throwing a new thing into the mix. I went and looked up each of the hundred or so loss leaders YTD and stocks hitting their 52 wk lows. In each case, I looked at the news, looked at the range, and looked at recent ratings. I ended up with a couple of companies that are still risky, but that I am going to buy a lot of stocks of... Wish me luck.
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