NRD09 said:
Didn't you post before that you're trying to make a go of this as a job, and need to draw income off it? I don't do it but my understanding is that's a completely different ball game than those of us here trying to build big accounts and have time and risk tolerance to do it. From my understanding, what you should be aiming to do is stay 100% cash with your trading/income generating account, learn to identify solid setups and confirmations, know where your exit is before you enter, execute with discipline, and for goodness sake do not trade for the sake of trading. If you don't feel confident in a setup do not play it. It's like poker, if you're not a blind and you got nothing, you fold. Preserve capital for high probability plays. Somebody correct me if I'm wrong
Yes you are correct. This account is trading for income....
What you described sounds like a good strategy, although I THINK that is primarily day traders, whereas swing traders have a different strategy. I think the typical swing for income strategy is less cash intensive and allows for up to 30 days in a stock, but I am honestly not sure what the rules should be about how much cash to withhold and that is one place where I know I made a mistake. To be fair, I left my strategy several times and ways and that is part of why I am where I am.
stocks I have a position in:
Mid to Longer term: WWR, CLOV, DNN
Weed rush plays: TLRY, SNDL
Expected 1-2 week flips: BLNK, BFT, TRCH, FUBO
Blockchain plays: DPW, RIOT, NXTD
May not 2x but Turn into cash anytime: KIQ
WTH is wrong with me for buying this: SYN,UNMC
Only green of them all is KIQ and BFT.