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Mooers Lab joined discussion · Apr 17, 2023 22:30

Mooers' Stories Vol.13: "I trust the charts. Luck and guessing will only get you so far" @AmyNic

Hi, mooers. Welcome back to Mooers' Stories, where we present mooers' insights and experiences. Are you considering trading or investing but are hesitating because of the risks? Luckily for you, you don't have to go at it alone. Meet @AmyNic! She is one of the most active traders in the moo community, with a passion for trading that is truly inspiring!
Mooers' Stories Vol.13: "I trust the charts. Luck and guessing will only get you so far" @AmyNic
"Scared money doesn't make money," Amy declares on her profile page. Like many other traders, she believes you have to take on the risk to potentially make money. It's a numbers game, and the goal is to pile on more wins than losses. We reached out to Amy to learn about her experience and what tips she has to offer other traders.
Mooers' Stories Vol.13: "I trust the charts. Luck and guessing will only get you so far" @AmyNic
Notes: All information comes from the interviewee and is published with the interviewee's consent. The testimonial provided herein may not represent other customers' experience, and does not guarantee future performance or success.
All contents, such as comments and links posted or shared by users of the community are the opinion of the respective authors only and do not reflect the opinions, views, or positions of Moomoo Financial Inc., Moomoo Technologies, any affiliates, or any employees of MFI, MTI or its affiliates. Please consult with a qualified financial professional for your personal financial planning and tax situations.
Moomoo may share or provide links to third-party content. Doing so is intended to provide additional perspective and should not be construed as an endorsement or recommendation of any chat room, channel, services, products, guidance, individuals, or points of view.
Investing Story: Luck and guessing will only get you so far. I trust the charts.
When did you start investing?
I started investing when I was about 20 years old, which is around 1999/98. However, I didn't start trading until the COVID lockdown....purely out of boredom. Crypto is what really intrigued me. It wasn't long before I gravitated over to the stock market as well.  
What categories do you mainly invest in or trade?
I stuck to the S&P 500 companies that included different large cap stocks. Nowadays, I day trade pennies and play options on mid and large caps.
How did you learn to trade at the beginning?
I watched the charts for hours to get a feel for how they move. I read everything about trading I could get my hands on and watched hours of youtube videos.
What are your trading routines?
I usually check the news and SEC filings on stock before placing an order. I don't rely on fundamentals when day trading. I create watchlists that are ongoing. Every night I have an idea of what I want to watch the next day, but more often than not my list changes soon after the start of the premarket.
My latest strategy has been looking for stocks that have a significant drop. Then I look at the filings and news to find out why it has dropped. If it's bankruptcy, acquisition, or impending delisting, it makes the cut.
How do you set your take-profit and stop-loss levels?
I let the chart tell me. Luck and guessing will only get you so far. I trust the charts, not luck, and other traders. I look at liquidity within the chart. As far as stop loss, I set a mental stop. It depends on how the stock is moving. Each sector has its own personality. It's how the stock moves. Some have crazy volatile swings up and down. Some are slow and steady with nice and easy pullbacks.  
What do you find most challenging in trading?
Patience and restraint. 75% of trading is psychological. It's a daily challenge. I don't let others influence my decisions and once I have decided to completely exit a play I try not to re-enter....unless I'm scalping.  
Best trade ever
I invested in a special purpose acquisition company (SPAC). When it first IPO'd then again this past November, I believe. I scalped shares when it IPO'd. This past November I bought calls. It was a short squeeze, and I had no clue it was about to squeeze. I just liked the chart so I bought the contracts. 2 days later, the contracts had appreciated significantly. I think I was up 900% on my calls. It was unexpected and a nice early Christmas gift.  
Important: Options trading is very risky and is not appropriate for all customers. Read the Characteristics and Risks of Standardized Options (bit.ly/OptionsDisclosureDocumentFull) before considering trading options. Options transactions are complex and may involve losing the entire investment in a short period of time. Supporting documentation for any claims, if applicable, will be furnished upon request. The past performance of a security or financial product does not guarantee future results or returns.
Source: https://giphy.com/
Source: https://giphy.com/
Any lessons you have learned from trading?
I've learned that nothing is certain. Nobody is a fortune teller.
What motivates you to post daily in our community?
I want to help those who are learning and just starting their journey. When we first dive in we tend to believe and trust in the hype. I got burned by the hype and I don't want to see that happen to others. I try to warn you when I see a play going south, so that new traders can take their potential profits and try not to become bagholders. Moomoo gives us tools and makes research easy in one place. It's like one-stop shopping lol. People make it great.
Words for newcomers
Don't complicate things and don't allow others to influence your decisions. Trust your gut. No FOMO. Be OK with not taking the trade. There will always be other plays.  
Interactive Activity
1. Vote
2. Spark meaningful conversations
Topic: What else do you want to know about @AmyNic? Any other topics you wanna discuss with her? Comment below to let us know.
Rewards:
1. 30 points: for mooers who raise insightful and @AmyNic-related questions
2. 70 points: for AmyNic's each reply to mooers' questions
Duration: Through May 15 11:59 PM ET, or May 15 11:59 AM SGT, or May 15 2:59 PM AEDT
(Rewards will be distributed within 5–10 working days post-activity end)
Notes: We encourage kind and in-depth interaction, for all mooers to learn, help community members advance their skills, and provide a sense of community in the investing journey.
We truly appreciate @AmyNic for sharing her valuable experience with us. Feel free to reach out to Amy.
Now let's check out what highlights we got from the previous episode! Also feel free to click here to enjoy the story of @iamiam!
Mooers' Stories Vol.13: "I trust the charts. Luck and guessing will only get you so far" @AmyNic
Interested in being featured in our monthly story? We want to hear from you! Comment below stating you're interested in being featured, and we'll reach out to you!
Until next time,
Disclaimer: This presentation is for information and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. See this link for more information.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more
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