Don't turn trade ideals in FOMO rant.
My style of trading is only buying and short selling 0.05 to 0.10 points near a key moving average. I use charts to plan my risk and entries, and I use Level II and Time of Sales feeds for exiting trades. I have a 0.5 points max lost, and 0.2 max lost after adding/averaging. When prices are near those moving averages, I manage my risk by stopping out or reversing my position to recover losses.
The volatility in the morning is dangerous. I read Level II and Time Sales feeds for all my trades, and I have learned how to identify hazards to signal an exit. Whenever I post a trade idea into the chatroom, the event has already happened in Level II, the transactions are being filled in time of sales, and I have already entered/exited the trade.
After watching my trades on video from 8/10, I read comments from other traders in the chat. I also noticed. By the time, I exited and posted my results, DBX price started crashing. I posted a trade idea after I went long in DBX at price 31.58 between 20 ema and 200ma. I also added after the price crossed the 200ma at 31.92, and on the bull flag at price 32. DBX price moved so fast, by the time I posted it in the chatroom, the price moved 0.40 points. Some traders made money, and some traders lost money. I also follow other traders' trading ideas, only if the price action fits within my trading system.
But, who am I? I'm NOT a day trader for sure but I've been practicing day trading for four months. And, I plan to go live in eight months. Also, I trade with a simulated account, and I post my trade ideas for education. My style of trading has been adapted form reading Andrew's two books and many other authors. I'm aware that there are many traders in the chatroom who are using real money.
I only enter trades when I'm absolutely sure it's going to move at least 0.10 points, but I do get lucky. For example, I didn't know MTCH was going to make a 1 point move, but also I didn't know DBX was a stock that new day traders should stay away from. I made these trades only because the prices were near the 20 and 200 moving averages which my trading system supports.
Before you decide to take a trade idea from the chatroom, just remember. It's very important to not follow other traders unless their trade idea fits within your trading system.
Just be warned! If you decide to take a trade idea from other traders in the chatroom, you're taking a huge risk.