Supplementing Dividend Portfolio

[Navi]

Fenders53 and Nilesmike Thank you both for your insight. I may look into options again at some point, but I prefer the technical analysis of short term trading as a supplement. If I get into options, I want to do it right. There are a lot of people that are gambling out there instead of trading...both with options and with stocks.

[fenders53]

So you prefer to consult the tea leaves?  I am kidding.  I often use a few indicators before I enter a trade.  I am confident algos trigger on the major TA indicators.  To some degree they are self fulfilling prophecy but the reason doesn't matter.

[Navi]

(11-10-2021, 08:46 PM)fenders53 Wrote: So you prefer to consult the tea leaves?  I am kidding.  I often use a few indicators before I enter a trade.  I am confident algos trigger on the major TA indicators.  To some degree they are self fulfilling prophecy but the reason doesn't matter.

Ha! I'm not one to oppose a cup of tea, especially if it makes me money. I do rely on certain indicators as well. I rely on the MACD and RSI to help me find stocks with an upward momentum, but then rely on price action (the usual supports, resistances, up and downtrends, and the like) to determine if a trade should be opened. I do enjoy the trade, but definitely still in my early days. I like the idea of reversal trend trading, so I'm honing my skills in that area.

[fenders53]

I mostly invest for years and make a lot of income with options. I do watch a youtuber that is a pretty good trader and sometimes it is day trading. I get a chuckle when he refers to MACD as "morons against collecting dollars". We all have our methods.

I pay some attention to support and resistance, MAs and RSI. Nothing at all complicated. Just an attempt to avoid completely fighting the tape.