Timing

Votke2310

Junior member
13 0
Other than experience, is there a way to increase my skills at timing the trades for day trading? I'm about 6 months in to my very unprofitable trading career and I keep executing the same issue... I'm picking the right stocks and buying, they end up correcting or reacting and hitting my stop loss at 3% and than shooting up so i "usually" miss out on the uptrend. is there any way to correct this? It happened twice to me today on ENPH and AMD
 

malaguti

Senior member
2,339 450
Without trying to sound condescending but if you are regularly stopped at 3%, then continues up; what happens if you set your stop to 4%?
The other question is more why dont you try different stops?
Often the timing is not so important. If a stock is going to go up, it's going to go up regardless of how well you timed your entry. This is very much dependent on what your timeframe is however
The exit or stop is key. Too tight, you get your scenario and too loose you have higher drawdown. Test various scenarios would be my advice. Make sure also you are buying into an uptrend
 
  • Like
Reactions: carryontrading

ssam

Active member
173 5
Other than experience, is there a way to increase my skills at timing the trades for day trading? I'm about 6 months in to my very unprofitable trading career and I keep executing the same issue... I'm picking the right stocks and buying, they end up correcting or reacting and hitting my stop loss at 3% and than shooting up so i "usually" miss out on the uptrend. is there any way to correct this? It happened twice to me today on ENPH and AMD
Maybe post a few charts and your analysis so people can get a feel for what you’re looking at. I am no means an expert but check out my thread for some of Fibo’s advice. Free. Read it. Do it and see how it plays out.

I am here if you want to talk any ideas over (I am not a pro, just interested in the markets)
 

Pat494

Legendary member
13,580 1,345
Have more confidence in your trades and stick with them longer.
One could use a martingale system but there are obvious risks.
 

Votke2310

Junior member
13 0
Without trying to sound condescending but if you are regularly stopped at 3%, then continues up; what happens if you set your stop to 4%?
The other question is more why dont you try different stops?
Often the timing is not so important. If a stock is going to go up, it's going to go up regardless of how well you timed your entry. This is very much dependent on what your timeframe is however
The exit or stop is key. Too tight, you get your scenario and too loose you have higher drawdown. Test various scenarios would be my advice. Make sure also you are buying into an uptrend
I didn't find it condescending at all, thank you for your advice, that's what i hope/think these forums are for. I understand about dropping it to 4% but I was wondering what others trade at for their risk reward..everything I've been reading as a beginning trader was stating to set your stop losses and stick to them its better to lose a little money than a lot so I was wondering what other people set it at or what might be the Norm? for a correction or a reaction in a typical uptrending pattern because there is always some small pullbacks along the way (from what I'm noticing)
 

Votke2310

Junior member
13 0
Maybe post a few charts and your analysis so people can get a feel for what you’re looking at. I am no means an expert but check out my thread for some of Fibo’s advice. Free. Read it. Do it and see how it plays out.

I am here if you want to talk any ideas over (I am not a pro, just interested in the markets)
I definitely will thank you
 

dbphoenix

Legendary member
6,952 1,242
Other than experience, is there a way to increase my skills at timing the trades for day trading? I'm about 6 months in to my very unprofitable trading career and I keep executing the same issue... I'm picking the right stocks and buying, they end up correcting or reacting and hitting my stop loss at 3% and than shooting up so i "usually" miss out on the uptrend. is there any way to correct this? It happened twice to me today on ENPH and AMD
A percentage stop as such is not likely to be successful as the market doesn't know how much you're willing to risk and wouldn't care if it did. A more "market-wise" stop, in an uptrend, is the last swing low, reason being that this is the price at which buyers entered or re-entered the market and stopped the decline in price. If they choose not to do so again, this is information that you want. If the last swing low is too far away to be within your risk tolerance, don't take the trade.

Db
 

Pat494

Legendary member
13,580 1,345
I wonder if anyone knows a trailing stop app that closes say 20% of the trade every X points away ?
 

Nowler

Established member
896 71
You could try lowering your unit/share size and using the difference to extend your stop further. Same amount risked, but more room to breathe.

Then add to the position as it goes more in your favour (if that's your trade horizon).
 
Last edited:

hatemypips

Well-known member
418 25
Its called pyramiding it works but you have care about exit points too for each position because it becomes a mess if you close or hold them all.
 

Votke2310

Junior member
13 0
I didn't find it condescending at all, thank you for your advice, that's what i hope/think these forums are for. I understand about dropping it to 4% but I was wondering what others trade at for their risk reward..everything I've been reading as a beginning trader was stating to set your stop losses and stick to them its better to lose a little money than a lot so I was wondering what other people set it at or what might be the Norm? for a correction or a reaction in a typical uptrending pattern because there is always some small pullbacks along the way (from what I'm noticing)
2019-08-13 (3)_LI.jpg
 

Votke2310

Junior member
13 0
Would you have played this today? I did and lost again, i bought 1,000 shares at $8.56 and it went up but than came down... i got shaken out around the 20 day when it was at $6.86 a share for a loss of $1500 and than it shot up to over $13 a share! The volume was down and even though the overall market was up today thi particular stock was in a downtrend so when it started to shoot back down i figured the run was over..
 

dbphoenix

Legendary member
6,952 1,242
Would you have played this today? I did and lost again, i bought 1,000 shares at $8.56 and it went up but than came down... i got shaken out around the 20 day when it was at $6.86 a share for a loss of $1500 and than it shot up to over $13 a share! The volume was down and even though the overall market was up today thi particular stock was in a downtrend so when it started to shoot back down i figured the run was over..
What is your trading plan?
 
  • Like
Reactions: Nowler