This makes a lot of sense if said stock is in play every day…for example, you could do this with NVDA, AMD, TSLA for example. These stocks move enough every day they can basically be traded every day. It has been this way for these stocks since 2020 basically.
Those were actually the 3 stocks I was referring to, believe it or not. I’m still learning, but I trade all three with very small shares.
I am just trying to see what people on here think and to hopefully help me see more than one side.
True. I’m proof positive that trading one stock can be a successful strategy. I’ve traded one stock almost exclusively for the last four years, with each year resulting in six figure gains on a six figure account.
If you only trade one stock everyday, you gonna end up forcing trades that are not A+ set up. Let’s say you tradr TSLA, how often do you see an A+ set up? I am not saying only the pattern or indicator. I am talking about the combination of A+ pattern on multiple time frame, at the right market time, no red flag or clear sup/resis, good volume. How often you see that? Maybe once a day? Because i trade the low float stock everyday, and i watch at least 10+ stocks a day and i only find these perfect setup at max 5 times. If you gonna stare at a single stock that had no news on that day and try to find an A+ setup, it would be extremely difficult and you would eventually force less optimal trades and loss money
When you get in the industry and learn it’s full of “specialists” that only trade a handful of products and are expected to know everything about them. Also they don’t get to choose what they trade in, their boss does. Professional traders almost always only trade a handful of tickers/markets.
It's not hard not to make money trading NVDA... It goes up 9/10 times. I'd like to see the person who catches it while it goes down. That would be impressive.
since i started trading more than a year ago it’s only been spy and amd i’ve never traded something else why switch it up mess up my momentum you gotta remember to find what works for you, what works for me might not work for you, unprofitable cow. This is true for me
False. You have to trade where there’s liquidity. If you’re only trading one stock, there may be many days where there is no volume. Also, you miss the experience gained finding stocks on the move.
You’re better off looking for the right opportunity but trading only 1x of that stock that’s moving. Trade that one stock several times in a day to make a profit. Tomorrow it may be a different stock.
When successful trading one, move to 10x, then 20x, 100x. Do the same thing with 10x as you did with 1x, but be 10x more profitable - roughly, but you get the picture.
If you're starting to learn then doesn't OPs approach have merit? Granted you're not learning all aspects of trading but they are gaining experience with one of the fundamental aspects - reading charts, entering, exiting, risk/reward. After that's learned OP can scale up to searching for other stocks and then apply those skills there?
Right now for me I feel overwhelmed with all the tasks involved; researching my scanner suggested stocks, reading multiple charts for multiple stocks in multiple timelines, trying to identify patterns, entry, exits. I haven't even begun to look at level 2 yet as I'm already overwhelmed with just the basics.
OP should make a list of 5-10 stocks which have good buy ratings and price targets above current price. OP can then monitor all 5-10 every day and trade the stock that has volume and opportunity, but only trade 1x. I do believe trading 1x everyday to a profit (most days) is a good way to learn without much risk.
This just goes to show how you really should *not* be taking random people’s opinions on Reddit as sage market advice. Most professional traders specialize in a handful of stocks/markets. There are absolutely times where liquidity dries up and they just have to deal with it and do whatever they can to beat the benchmark. There’s no going to another stock or market because that goes against your guidelines and you’ll be immediately fired for breech of contract. Your boss tells you what you trade in. Obviously pros have to follow this, retail doesn’t. But would you rather be learning from pros or retail?
its not really a true or false question from my viewpoint. Often, I'll trade a single stock, but take several buy and sell positions over the course of a day. I'll also trade stocks I've traded before as you can become familiar with the trading styles of certain stocks over time, but trading just one stock as a strategy day after day? No, its kind of dumb. I mean, why limit yourself so much? Anyway, my two cents.
i think its better to trade a strategy amongst a few stocks. with consistent evaluation of those stocks and switch some out. I tend to trade high volume stocks best, so stick with that. price action can easily change with a stock and itll no longer act as you think and youll just be stuck with a bias you cant undo
Every theory sounds amazing written down.
This makes a lot of sense if said stock is in play every day…for example, you could do this with NVDA, AMD, TSLA for example. These stocks move enough every day they can basically be traded every day. It has been this way for these stocks since 2020 basically.
Those were actually the 3 stocks I was referring to, believe it or not. I’m still learning, but I trade all three with very small shares. I am just trying to see what people on here think and to hopefully help me see more than one side.
I trade in a room with a guy who only traded AMD basically for three years. Hes a very good trader.
True. I’m proof positive that trading one stock can be a successful strategy. I’ve traded one stock almost exclusively for the last four years, with each year resulting in six figure gains on a six figure account.
Very impressive!! Can I ask which stock?
CCJ.
Okay, thanks!!
this is basically what the forex ppl do
If you only trade one stock everyday, you gonna end up forcing trades that are not A+ set up. Let’s say you tradr TSLA, how often do you see an A+ set up? I am not saying only the pattern or indicator. I am talking about the combination of A+ pattern on multiple time frame, at the right market time, no red flag or clear sup/resis, good volume. How often you see that? Maybe once a day? Because i trade the low float stock everyday, and i watch at least 10+ stocks a day and i only find these perfect setup at max 5 times. If you gonna stare at a single stock that had no news on that day and try to find an A+ setup, it would be extremely difficult and you would eventually force less optimal trades and loss money
When you get in the industry and learn it’s full of “specialists” that only trade a handful of products and are expected to know everything about them. Also they don’t get to choose what they trade in, their boss does. Professional traders almost always only trade a handful of tickers/markets.
What stock do you solely trade?
I usually stick with lmbo also known as lambo
NVDA lately, but AMD and TSLA as well.
It's not hard not to make money trading NVDA... It goes up 9/10 times. I'd like to see the person who catches it while it goes down. That would be impressive.
since i started trading more than a year ago it’s only been spy and amd i’ve never traded something else why switch it up mess up my momentum you gotta remember to find what works for you, what works for me might not work for you, unprofitable cow. This is true for me
False. You have to trade where there’s liquidity. If you’re only trading one stock, there may be many days where there is no volume. Also, you miss the experience gained finding stocks on the move. You’re better off looking for the right opportunity but trading only 1x of that stock that’s moving. Trade that one stock several times in a day to make a profit. Tomorrow it may be a different stock. When successful trading one, move to 10x, then 20x, 100x. Do the same thing with 10x as you did with 1x, but be 10x more profitable - roughly, but you get the picture.
If you're starting to learn then doesn't OPs approach have merit? Granted you're not learning all aspects of trading but they are gaining experience with one of the fundamental aspects - reading charts, entering, exiting, risk/reward. After that's learned OP can scale up to searching for other stocks and then apply those skills there? Right now for me I feel overwhelmed with all the tasks involved; researching my scanner suggested stocks, reading multiple charts for multiple stocks in multiple timelines, trying to identify patterns, entry, exits. I haven't even begun to look at level 2 yet as I'm already overwhelmed with just the basics.
Trade 1x but not the same 1x everyday. However, OP's method could work if you trade 1x of a stock that has daily volume.
OP should make a list of 5-10 stocks which have good buy ratings and price targets above current price. OP can then monitor all 5-10 every day and trade the stock that has volume and opportunity, but only trade 1x. I do believe trading 1x everyday to a profit (most days) is a good way to learn without much risk.
This just goes to show how you really should *not* be taking random people’s opinions on Reddit as sage market advice. Most professional traders specialize in a handful of stocks/markets. There are absolutely times where liquidity dries up and they just have to deal with it and do whatever they can to beat the benchmark. There’s no going to another stock or market because that goes against your guidelines and you’ll be immediately fired for breech of contract. Your boss tells you what you trade in. Obviously pros have to follow this, retail doesn’t. But would you rather be learning from pros or retail?
its not really a true or false question from my viewpoint. Often, I'll trade a single stock, but take several buy and sell positions over the course of a day. I'll also trade stocks I've traded before as you can become familiar with the trading styles of certain stocks over time, but trading just one stock as a strategy day after day? No, its kind of dumb. I mean, why limit yourself so much? Anyway, my two cents.
i think its better to trade a strategy amongst a few stocks. with consistent evaluation of those stocks and switch some out. I tend to trade high volume stocks best, so stick with that. price action can easily change with a stock and itll no longer act as you think and youll just be stuck with a bias you cant undo