Margin or Cash Trading on Moomoo - Rookie Trader Journal 7 Jun 2021 - Cut TSLA Bought VISA AAPL

Is Moomoo a Cash or Margin Trading platform?

The app is a little confusing. I see the word Margin everywhere until I place a trade do I see the word Cash! 🤨

Today I placed my first trade on Moomoo.

This is how I figured it out.

✅ Changing SGD to USD - Go to Trade, US Margin Account, Currency Exchange to change all my SGD2700 deposit to USD. The process took less than 5 minutes. 

✅ Buying a stock - Go to the stock. Tap on Trade. Choose Limit or Market. Key in price and quantity. Unlock Trade. Then tap on Buy.  A notification appears telling me that whether the trade is cash or margin. The funds available will be used for cash trading. If funds are not enough, then a certain number of shares will go into Margin trading. 

✅ Monitoring Stocks - To monitor potential stocks to buy, go to the watch list in the Quotes tab. To monitor stock holdings and orders pending, go to the Trade tab. 

Today, I will not venture into Margin trading and stick to whatever funds I have for Cash trading. 🧐

About half an hour after placing a trade, Moomoo gave me my free Apple stock at $124.99. 🎉

How's my purchasing power today?

  • I can buy 2 stocks using Moomoo. 
Any stocks in my Moomoo watchlist to buy? 
  • AAPL Buy at $125. Done.
  • VISA Buy at $233.27. Done. It went down on the screenshot. 😱



 Any tips from TraderTV Live?
  • None
Question to self: How to track medical biotech stocks, meme stocks, and penny stocks?


Which stock in hand can I sell?
  • ADVM. Bought $4. Stop $3.47. Target $4.5. 
  • METX. Bought $1.60. Stop $1.53. Target $1.90.
  • PULM. Bought $0.93. Target $1.05. Stop? 
  • TSLA. Buy $585. Done. Target $611. Cut loss at $586. Due to bad news. Canceled Plaid production. 



Frustrating day. Cut TSLA loss due to bad news and it went up. Canceled OCUGEN order because the limit order can not be met and it went up. Bought Apple and Visa at Market price and they went down. What's happening?

Lessons: 
- Dont be influenced by news. Follow the indicator signal instead.
- Buy Market price when I see a signal. Don't buy on Limit price. 

See you tomorrow. 

~ Rookie Trader 

PS: I would like to thank the following...
Buy Crypto?

What did I learn?
  • Buy on dip from late April to early May 2021.
  • "Sell in May and go away" is an investment adage warning investors to divest their stock holdings in May and wait to reinvest in November. From 1950 to around 2013, the Dow Jones Industrial Average posted lower returns during the May to October period, compared with the November to April period. ~ https://www.investopedia.com/terms/s/sell-in-may-and-go-away.asp
  • Since 1950, September has been the worst month of the year for stocks on average. And when August is a particularly strong month, September is an especially bad month for stocks.~ https://markets.businessinsider.com/news/stocks/stock-market-outlook-september-worst-month-year-lpl-strategy-buy-2020-8-1029549498
  • Supertrend strategy doesn't work after an uptrend. 
  • New strategy. Fibonacci Pivot Point Resistance and Support.
  • Queue GTD for every buys and sells. 
  • 10% strategy is not efficient. 5% profit is faster to reach. Hence Change to >$100 target strategy instead. 
  • Buy quickly once I identify a stock to buy.
  • Missed SEAC spike 3 times within a week. Dropped to negative immediately after the spike. Lesson - Queue up to sell using GTD. Forget about using alerts.
  • Premarket moves are irrelevant and distracting. Stop tracking them. 
  • Buying at the market close is not a good idea. Too many premature supertrend false alarms. Stop trading the closing hour. 
  • Sell immediately if price spikes on news.
  • Missed the NFT STOCKS!!!!! Pay attention to the next trend.
  • Follow most-watched stocks on yahoo finance coz they are more volatile. 
  • I missed many buy signals in the travel industry. So please Monitor all related big movers every day.  
  • Remove emotion from the equation.
  • Sell. Don't hold. Don't be greedy. 
  • Sell when the target is hit. Don't hold. 
  • I need a cut-loss strategy.
  • If I don't sell, I will have no capital to buy. 
  • Stop thinking that I should have held the stock that rose 100% times up after selling. Remember SEAC. Locking the profits at hand is better than risking the opposite direction. 

How to recover from stock market losses? How to recover my money lost? How to win my trading losses back? 

1. Change my mindset to making money and “NOT recovering”. It is a very common trap and you should not fall into it. ~ https://www.quora.com/How-do-I-recover-a-loss-in-a-share-market

2. The best way to recover after losing money in the stock market is to invest again. Don't "stick your head in the sand and put your money under the mattress, because you'll never recover that way". ~ https://money.usnews.com/investing/investing-101/articles/how-to-recover-after-loss-in-the-stock-market

3. Do not be in a hurry to recover the money immediately but wait for the market to give you the opportunity.  ~ https://www.motilaloswal.com/blog-details/How-to-go-back-to-equities-after-you-have-lost-money/1390

4. Take some time to diagnose what went wrong. Assess your stock market loss so that you can make changes. ~ https://www.google.com/amp/s/www.savagelaw.us/blog/amp/how-to-recover-from-a-major-stock-market-loss/


















Comments

Post a Comment

Popular posts from this blog

Do Traders Make More Money Than Investors

Trading has come to a grinding halt. All my disposable capital is stuck in a market that is not moving up. I can't even buy anymore when they are down. I just have to sit and wait for the day COVID-19 vaccine is available.  That's when the market will shoot up. Now I know why traders cut losses. So I guess I am not a trader but an investor. A long term investor... 12-year investor to be exact. The financial crisis seems to come every 12 years.  I don't have much of 12 years left ahead of me. It's time to become a trader. So... Do Traders Make More Money Than Investors? Basically, both will make as much money. The trader makes the money faster, maybe in minutes, but more stressful. They buy to sell. They cut losses. The investor makes the money slower,  up to decades, but more relaxed. They buy to hold. They hold losses and hope. Source:  https://www.quora.com/Who-makes-more-money-traders-or-investors Adrian's Journal The rookie trader
Read more

How Stock Market Software Puts You on the Same Level As Pro Traders

Image
Image via Wikipedia Investing in the market obviously carries a degree of risk for anyone who chooses to invest in it, there's no question about that. If you're experienced at analyzing market data then you typically know how to anticipate the market and have an idea about what is due to be profitable. That's not to say that these traders do not occasionally use a little help, and this comes in the form of computerized stock market software . This technology is now available to the masses thanks to a handful of techies and software designers, so here is what you should know about stock market software so that you can trade like the pros. How stock market software works is that it puts past trend data against real time market data. It makes use of mathematical algorithms which look at the factors which led to successful trends of the past, then apply it to current real time market data to identify similarities to further investigate because the market moves in cycles a
Read more

Exploring the Current Trends in the S&P500: Microsoft and Tesla Stand Out

I browsed through Finviz today and noticed that there are only two pages of S&P500 stocks with buy signals. This caught my attention because it means that most of the stocks in the index are performing well. However, I noticed that there are a couple of exceptions to this trend. First, there's Microsoft (MSFT). The stock is currently trading at $226 per share. It's definitely one to keep an eye on. [DONE] Then there's Tesla (TSLA). This stock is trading at $117 per share. It's definitely worth considering as a potential investment. Overall, it seems like the market is doing well, with only a few exceptions. As a rookie investor, it's always important to keep track of the trends and do your own research before making any decisions.  ~ The Rookie Trader Rookie Stock Trading Strategy - Jan 2023  
Read more