Mooer's Stories | Taking care of my family, so does my portfolio
We're honored to invite@NoNo444, the runner-up of US Papertrading Competition (Season 3), to share his investment story!👏👏
Let's dive in here:
What kind of investor are you?
According to the Task Center in moomoo, I've checked in for about 519 days, so I started about a year and a half ago.
What drew me to the stock market and investing was the initial free shares that moomoo gave us, I think I ended up with some $GameStop (GME.US)$ and $AMC Entertainment (AMC.US)$ stocks. At that time, I had no idea if they were good or not. I didn't even know about the GME short squeeze and even a movie about it!
Initially I was a buy-and-wait type of investor, buying in the hopes that in a few years time it will grow, however over the space of a year and half I‘ve turned to investing for a short and small gain, almost day trading style.
How would you describe your investing style?
Currently I mainly watch and would day trade or day paper trade the hot stocks, that are available during the intraday.
How do you typically handle market volatility or downturns? Do you have a specific risk management strategy?
Make sure you set a stop loss!!!
If you don’t set a stop loss you may end up selling at a loss or eventually bag holding the stock, in the hopes that it will rise in the future. If you dont set a stop loss you must monitor the stock moments with the 1m graphs and watch for the big red candles and the general trend or direction of the stock. Be content with the profit you see, even a small profit to cover the fees is better than being in the red at the end of the day.
Are there any impressive cases you can share, especially in moomoo? Like your best trade ever, whatever in the aspects of strategy execution or the profit rates?
There are so many cases to talk about. I remember one that it actually isn‘t impressive (due to the fact that I didnt profit over it). However, it’s a good example and learning curve.
The stock was $Serve Robotics (SERV.US)$. I got word that this stock was gonna be good, so I bought in at around $6, over the space of 3 weeks I managed to buy low sell at a higher price than I bought at. There was one point when I had bought at $10 the next day it dropped to $8, then I was randomly woken up and I checked the stock and it was $12, in which I sold. During the 3 weeks it peaked to I think $24, unfortunately due to my FOMOing my final trade I bought at a high price and it never recovered, all the gains I had made (sure a small cash amount) but still I had to sell and made a loss. But this has given me great experience in to what I should do, and that is to take profits when you can!
Can you describe the main strategy you employed during the competition?
Main strategy was to short sell all the high volume, high % change stocks during the day.
How did you decide on which stocks to invest in and when to make your moves?
I used Moomoo Featured Lists and made sure to tick pre-market to get the hot stocks or ones that were very high in % change and volume. Whenever the market opens, most of the time it will always reach a higher within the first 10-15 mins, so during this time is the best time for me to get in the stock. In the hopes that at the end of the day or even the next day it will drop.
What were the most challenging moments during the competition, and how did you navigate them?
The most challenging moments are when the stock price increases during the day/and into the next day, and also when the volume of the stock is so little that it’s hard to trade. In order for me to stop the price from increase is to hold the stock longer! (Yes, not ideal). Otherwise, if you sell at a loss it will snowball and get worse. The other thing is the volume for when the stock price is low, no one is trading it so it usually is harder to make your profit.
How did your previous trading experiences (if any) help you in this competition?
I've always wondered why stocks go down the next day after I have purchased them? So for this paper trading exercise I decided to go against the market in hopes that it will work.
Were there any specific indicators or tools that you relied on heavily during the competition?
I used Volume, MACD, Watching the 1m graphs, being aware of the resistance levels and the trade inflow/outflow.
What key lessons or insights have you taken away from this competition that you think could benefit other traders?
Short selling isn't for everyone...... Respect that the market sometimes does it's own thing, and to not be greedy. Take profits when you can.
How do you think paper trading competitions differ from real-world trading, and how has this competition prepared you for real investments?
Paper trading is much less stressful. there is less emotion in the trade, so you are free to take risks and higher risks that you would normally not take.
About moomoo
Where are there specific features on moomoo that you found particularly useful?
The 1 minute graphs are really good to see where the stock price is heading or will head during the day
Is there any feedback or suggestions you'd like to share to improve the moomoo platform further?
Allow “pro” version of the price purchace screen, like in the real trading
We truly appreciate @NoNo444 for sharing his valuable and inspiring experience with us! Feel free to interact with him if you have anything to say!
Disclaimer: This presentation is for information and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Before investing, please consult a licensed professional. See this link for more information.
