I keep hearing it from the VTSAX and chill folks, over and over again. The pandemic bull market is making everyone (except them) look like a genius, even though it's actually been a bull market for almost 12 years, since March 2009. And just I wait until the bull market ends, then I'll surely get my comeuppance for running roughshod over their meager returns trade after trade, option call after option call. Boy do I ever have it coming. Well instead of allowing my supreme ego to become consumed with my sense of schadenfreude, I've taken their threats to heart and devised a foolproof system to permanently lock in my gains while continuing to obliterate their impotent index funds. I've encapsulated the strategy in a few easy steps below. 1. Liquidate all of my current equtiy and options positions. I have $750k in my portoflio which equates to $3M in day trading capital. 2. Put together a watchlist of high-flying momentum stocks that trade in heavy volume. There's a great abundance to choose from. 3. When the market opens, watch for stocks that gap up ~2% or less and retrace 4. Place stop market buy orders just above their daily highs. 5. If and when these orders get filled, the stocks will keep going up. And up. And up. 6. Place stop market sell orders at daily lows, raising them as the position gains in value. 7. It's now 9AM, time to start my regular job. All positions have been entered in the first hour of trading, so just raise stops periodically and exit remaining positions at EOD. 8. With leverage, easily make 2% per day. I won't lose money during mass selloffs because those happen at the open or premarket so there won't be any trading setups. I won't make money either but I'll vastly outperform the market. Goodbye VTSAX.
Ur gonna get rekt Sincerely, VTSAX and chill (I have a lot of other holdings I’m jk)
Good Bollywood movie script.
Man that's a lot of work .. I usually wake up around noon so I think I'll stick with ARKK and chill
Sorry you lost a lot with GME and never made it to the moon
I didn't buy any GME. I lost a grand total of 3% of my portfolio on meme stocks.
You can easily make 1% selling SPY weeklies. Welcome to Theta Gang
1% a week sucks.
What position sizing do you do for this
How are you gonna predict the daily highs and lows?
I don't need to predict anything, this is a mechanical system that doesn't require any meaningful judgment calls. The first time a stock that gaps up makes a low and then a higher high, I'm in. My stop loss will be between 1-2%, roughly around the existing daily low. I don't need to predict the high because as the stock goes up i'll just keep increasing my stop loss, and if I never get stopped out I'll sell at EOD. It's not uncommon for momentum stocks to gain 5-7% in a day and I'll be able to capture at least half of that movement with this strategy.
Are stop losses really as fool proof as you think? If so, what’s stopping everyone from putting a stop loss on their purchase price? Only upside!
Yup, it can blow right through your stop.
Not true for megacap stocks that trade in high volume. What's stopping other people from making money in the stock market is that they have a loser mindset and think nobody can outperform the market.
Why can't you write in plain simple english? What's up with those jargons???
That is a lot of words, but hey I support anyone who is willing to put some effort and not simply do less than the bare minimum by putting the money in VT*. Personally, I think there are simpler ways to beat the market but it doesn't hurt to try. Goodluck!
What are the simpler ways?
What the fuck is schadenfreude? English, Mandarin or Hindi only please
It's in the English dictionary, bruh
No its not..you may have a german lineage but stop imposing german on english..