Mooer's Stories | Taking care of my family, so does my portfolio
Hi, mooers. Welcome back to Mooers' Stories, where we present mooers' insights and experiences from our community. 🎤
We're honored to invite @NoNo444, the runner-up of US Papertrading Competition (Season 3), to share his investment story with all the mooers in our community. Let's shout out to him!👏👏
Let's dive in here:
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.
Currently I mainly watch and would day trade or day paper trade the hot stocks, that are available during the intraday.
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.
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!
Main strategy was to short sell all the high volume, high % change stocks during the day.
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.
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.
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.
I used Volume, MACD, Watching the 1m graphs, being aware of the resistance levels and the trade inflow/outflow.
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.
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.
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
Just in case you didn't know, you can also be the one to tell the story! Interested? Comment below to let us know! We'll reach out to you as soon as possible!
Thanks for your time. See you next time! ![]()
*ps: The AU Papertrading Competition in moomoo is only available for Australian users now.
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.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
Read more
Comment
Sign in to post a comment
Moomoo Community Official Account
Always here for mooers!
26KFollowers
471Following
11KVisitors
Follow
2DETN8 : Just Sharing My Thinking And Reasons On How Good Moomoo Is
Kind regards, 2DETN8
Thank you for reaching out! I truly appreciate the opportunity to share my journey in the Papertrading Competition and how Moomoo has played a vital role in my growth as a trader.
Since joining Moomoo, I've come a long way, significantly improving my trading skills and strategies. This has been an exciting journey for me, and I am determined to bring home that A $100,000 prize means so much to me, coming from a background where finances have always been tight. This goal represents not just a win for me, but also a chance to provide more for my family and my mum, who raised me and my sister and brother as a single mother. That’s why I strive to give my kids and family what I didn’t have as a child. I have recently started my own clothing brand called T•C•O•B (Taking Care of Business), and the name and meaning behind it certainly reflect my less-than-privileged upbringing. I have just copyrighted it to protect my idea, and with this money, I will continue to trade and also invest a large amount in launching this brand.
I would be very thankful to share my experience in the upcoming articles, highlighting:
Journey of Growth: How my skills have evolved since I started with Moomoo, detailing specific strategies that have helped me advance from past experiences to my current performance.
Motivation and Goals: Discussing my personal motivations and the importance of this competition for my family, showing that anyone can improve their trading skills only with Moomoo and also with the right tools and community support.
Encouragement for Others: Sharing insights to inspire others who may be in similar situations, emphasizing that with dedication and the right resources, significant progress is possible.
I thank you again. I greatly appreciate your time, especially in today’s fast-paced business world, that you put some time aside to send me a private message. Thank you.