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OfflinegeokillsA
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: The OCB]
    #27201049 - 02/12/21 08:16 AM (2 years, 11 months ago)

I'm out of UVXY.  Market is not doing much of anything, so UVXY is only bleeding.  With Monday being a holiday, I don't need to hold calls on this with only four trading days left on the contract.  Too bad, so sad.

Bambi, rip off the fucking bandaid brother!  If you aren't feeling good about your positions, and have enough clarity of mind to admit that you want your shares called away to force simplification and reduce stress; take matters into your own hands, shut that shit down and regroup so you can come back without the emotional trauma that can so effectively cloud your better judgement!

Fiery, if a company is bought out at a premium (which is pretty much the only way it goes), you will capture your proportional share of that premium.  Your stock doesn't just disappear, it will increase in value, and you can either sell it on the open market for what is typically a slight discount to the full buyout offer (the smart move), or wait until the deal closes to capture the full gain when your shares are retired.


Some notes I sent to an old friend who is trying to get their feet wet managing their own accounts:

Quote:

Being an effective trader requires you to become an expert at screening for opportunities that fit your style, including quickly recognizing those that don't, and ruthlessly turning away from them.  You can't force a trade or an opportunity, you have to practice recognizing what fits your criteria and focusing your energy only on those issues.  I used to try to keep a regular eye on daily sector movements, news flow, this, that and the other thing.  But in hindsight, that sort of macro-minutia was a huge waste of my time.

Of course, it takes time to figure out what your style is going to be, and as you are doing that, you will probably be overwhelmed with the amount of data you are attempting to absorb and make sense of.  I'm not sure you can necessarily shortcut that process, but you can remind yourself that this isn't a race and you don't need to know everything to be successful.  So in moments of calm mind, take your time to filter through your screens and make efforts to diligently cut out the fat.  The more you can improve your focus on what works for you, the quicker you'll be able to dismiss what isn't, and pounce on what is.




--------------------

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··∙   long live the shroomery  ∙··
...π╥ ╥π...


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OfflineEnkidu
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: The OCB]
    #27201055 - 02/12/21 08:20 AM (2 years, 11 months ago)

Not good for holding anything for weeks?


--------------------
Within You , Without You


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OfflineBambi
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: geokills] * 1
    #27201274 - 02/12/21 10:33 AM (2 years, 11 months ago)

The thing is, individually, I do like all of my positions. As you mention in your post - it's about finding your own style that works for you. I think I've pretty much figured out how I like to trade, but I can't help but get a bit anxious at times. I have a tendency to get out of trades too early or at their low, so I want to work through my emotions a bit and practice patience.

Aside from figuring out your trading strategy, I think it's important to figure out your emotional biases and tendencies - I get greedy at the top and fearful at the bottom; with a bearish tint to it all.

Just to talk myself through things, here is how I feel about my positions:
- Selling CCs on TACO and SPI - I like having a portion of my account in a relatively safe spot to prevent me from blowing it up and to take advantage of the income generation, but I have no qualms with them getting called away as profit is profit. No change wanted here.
- NVDA stock, I still think there is room to grow depending on the overall market. Despite my bearish bias, the NASDAQ is in an uptrend and I'm fairly ahead on the trade, so I'll use the ~$600 level as my stop until something changes.
- NOK stock... this one is more difficult for me to justify. I think the $4 level is very strong for support and I think we are at the beginning stages of an uptrend. But in the back of my mind, I know that holding NOK stock is a wasted opportunity cost of my capital as I wait for it to do nothing. Also, my initial case for purchasing the stock no longer applies (am I merely justifying my emotional attachment to the trade or discomfort in taking a loss?). Realistically, I should sell my shares and buy Jan '22 $5 calls if I really want to maintain exposure for a fraction of the capital. I think I'll look for a favorable exit/entry and do just that.

Still looking for a pullback on AMD (surprised it broke above $93). Looking for MSFT to run into resistance at the top of its channel. Put in a low order for SWCH calls to trade a bounce off the bottom of the bull flag, but it doesn't seem like it'll go through. Also watching LI for a technical trade and SANW for a possible fundamental trade (I think people have gotten way more into gardening during COVID).


--------------------


"I want to read, talk with my friends via the computer, and enjoy my life now that people know I'm not dead. " -Rom Houben


Edited by Bambi (02/12/21 10:34 AM)


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OfflineManianFHS
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: Bambi] * 1
    #27201354 - 02/12/21 11:17 AM (2 years, 11 months ago)

All cash. Not necessarily happy about it after getting clobbered a bit yesterday. But going into a long weekend I dunno.  I shouldn’t trade to make up for an earlier swing and miss. just need to chill and reset.


--------------------
notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... "

ChrisWho said: "It's all about the journey, not the destination."


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OfflinegeokillsA
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: ManianFH]
    #27201369 - 02/12/21 11:21 AM (2 years, 11 months ago)

One of the harder lessons to learn mick, thanks for highlighting it!  Rather often, it's not taking the trade, that is the better trade.  Especially if you find your mental state on edge from prior losses.  Gotta clear that mental baggage out before you can make responsible decisions.


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OfflineManianFHS
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: geokills]
    #27201433 - 02/12/21 11:48 AM (2 years, 11 months ago)

:thumbup: For sure man!

BTW have started listening to SMMentor podcast, which TBH makes little to no sense right now, but I enjoyed the articles you posted, and the philosophy behind his trading style. When my daughter starts going to school more regularly - covid pending, and I have more time to justify the monthly cost, will subscribe to that website to really try and educate myself. Thanks for sharing those!


--------------------
notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... "

ChrisWho said: "It's all about the journey, not the destination."


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OfflinegeokillsA
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: Bambi]
    #27201459 - 02/12/21 12:01 PM (2 years, 11 months ago)

Bambi, thanks for explaining your process.  It sounds like you have a pretty good handle on your strategy, and where you may need to make a few minor adjustments.  Getting greedy at the top and fearful at the bottom is how we humans are hardwired.  It's a very difficult tendency to surmount, hence why trading on emotion never works over the long haul.  A ruthlessly disciplined approach is the only way to stack the deck in your favor.

I hope you know I wasn't trying to give you too much of a hard time in my prior post, typically if I'm droppin' F-bombs and the like, my tongue is firmly planted in my cheek. :tongue2:


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OfflineThe Ecstatic
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: geokills]
    #27201573 - 02/12/21 12:48 PM (2 years, 11 months ago)

I guess PLTR is just gonna do nothing until earnings.

Glad I stayed out of the market today, hope everyone enjoys the long weekend :heart:


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InvisibleTheStallionMang
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: The Ecstatic]
    #27201587 - 02/12/21 12:55 PM (2 years, 11 months ago)

I got stuck with a few yesterday that dropped some.  Things are starting to come up into positive territory now though.  Probably gonna take small gains where I can and see what happens next week


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Offlinepslyke
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: TheStallionMang]
    #27202013 - 02/12/21 04:03 PM (2 years, 11 months ago)

I got clobbered yesterday. I am a long time investor, not a trader. I try to identify emerging sectors that make sense and that I think I understand and then invest in the long game. When the cannabis sector opened up in Canada I was quick to invest and I have held multiple companies through all of the turbulence since. Yesterday was not my best day...


--------------------
"What appears impenetrable to us does exist, manifesting itself in the deepest wisdom and the most radiant beauty" Einstein

"The conservatives of 70 years ago would be outraged at what has come to pass. It embodies everything they took up arms for to defeat"Asante


:kratom:


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OfflineHikeadellic
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: pslyke]
    #27202035 - 02/12/21 04:11 PM (2 years, 11 months ago)

Yeah stocks have not been kind to me lately either, crypto on the other hand is on a roll


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InvisibleFiery
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: geokills]
    #27202047 - 02/12/21 04:18 PM (2 years, 11 months ago)

Quote:

geokills said:
I'm out of UVXY.  Market is not doing much of anything, so UVXY is only bleeding.  With Monday being a holiday, I don't need to hold calls on this with only four trading days left on the contract.  Too bad, so sad.



Fiery, if a company is bought out at a premium (which is pretty much the only way it goes), you will capture your proportional share of that premium.  Your stock doesn't just disappear, it will increase in value, and you can either sell it on the open market for what is typically a slight discount to the full buyout offer (the smart move), or wait until the deal closes to capture the full gain when your shares are retired.


Some notes I sent to an old friend who is trying to get their feet wet managing their own accounts:

Quote:

Being an effective trader requires you to become an expert at screening for opportunities that fit your style, including quickly recognizing those that don't, and ruthlessly turning away from them.  You can't force a trade or an opportunity, you have to practice recognizing what fits your criteria and focusing your energy only on those issues.  I used to try to keep a regular eye on daily sector movements, news flow, this, that and the other thing.  But in hindsight, that sort of macro-minutia was a huge waste of my time.

Of course, it takes time to figure out what your style is going to be, and as you are doing that, you will probably be overwhelmed with the amount of data you are attempting to absorb and make sense of.  I'm not sure you can necessarily shortcut that process, but you can remind yourself that this isn't a race and you don't need to know everything to be successful.  So in moments of calm mind, take your time to filter through your screens and make efforts to diligently cut out the fat.  The more you can improve your focus on what works for you, the quicker you'll be able to dismiss what isn't, and pounce on what is.










@ geokills and everyone else.


Awesome advice-  And I did JUST that- I pulled out 100% while I was still in the green- all of it- and am going to take this long weekend to do some research and re-evaluate my strategy and re-enter the market with a clear head and plan next week.


My strategy was basically I didn't have one- and like you told your buddy I didn't really have a style either- partly because I'm so new.


Now I have a good idea of how things work and I can come back swinging again next week!''


Thanks man!


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OfflineEnkidu
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: Fiery]
    #27202072 - 02/12/21 04:35 PM (2 years, 11 months ago)

Xpeng is slowly weighing me down

Im green on

MP
BABA
NIO
Li
ACEV
AMD

Looking to hold MP long

Everything else ill sell when i think its at a high (hopefully now is not their fucking high)

AMD ill sell if it cant break ATH and BABA ill probably aim to sell around ATH too

Red on

Xpeng
WPM
GOLD
NEM

I have tiny positions in gold and nem

Waiting to see if they ever fucking move ans if they start i will add to them and sell once they look to be reaching a high

WPM i think might be a decent long term hold but i might sell that one too if it ever goes up

Those 3 in the red besides xpeng were meant to be more long term safer investments but since im watching shit so much im feeling like i dont like having too much capital being wasted in something slowly bleeding or not moving when it could be earning

Just being patient right now

I should look for day trades and short term plays but so far i have a hard time entering anything im not actually interested in

Every position i have now is a position i would potentially hold long or rebuy into


--------------------
Within You , Without You


:mushroom2::levitate::mushroom2:


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OfflineCHeifM4sterDiezL
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: Enkidu]
    #27203263 - 02/13/21 09:00 AM (2 years, 11 months ago)

Started looking into sustainable infrastructure companies and infrastructure ETF like PAVE. How do people feel about them?


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OfflineHikeadellic
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: CHeifM4sterDiezL]
    #27205724 - 02/14/21 03:11 PM (2 years, 11 months ago)

I made steel my infrastructure play


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OfflineBambi
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: geokills]
    #27207027 - 02/15/21 08:56 AM (2 years, 11 months ago)

Quote:

geokills said:
I hope you know I wasn't trying to give you too much of a hard time in my prior post, typically if I'm droppin' F-bombs and the like, my tongue is firmly planted in my cheek. :tongue2:




Haha no, you're good my dude. You were definitely right in that I need to just change out my NOK position. My bad if I came off as defensive... After trading for ~10 years, I do wish I was better at this whole thing. One day I would love to make it my main income source, but not there... yet.


--------------------


"I want to read, talk with my friends via the computer, and enjoy my life now that people know I'm not dead. " -Rom Houben


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OfflinegeokillsA
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: Bambi] * 1
    #27207050 - 02/15/21 09:08 AM (2 years, 11 months ago)

I figured, and I didn't take you as defensive, I genuinely thought it was awesome that you shared your process in evaluating your positions.  That's the whole reason I started this thread really, to keep myself honest and focused by posting what I'm doing.  It's easy to buy and sell something and then make up a story about it later; but being able to go back and review your original intentions without making up excuses after the fact, that's the best way to learn.

I'm twenty years in and I know that trading will always be difficult.  The emotional management - which is typically the biggest problem traders have to hurdle - gets a bit easier with time... but that alone doesn't make money grow on trees.  The market remains tricky, often elusive in its changing behaviors.  Sometimes you will do well, sometimes you won't.  Hence why practicing your discipline by insisting on the best entries, mitigating risk by sizing down your position when you can't get the best entry (or sizing it up when you do happen to catch a good one), and adhering to strict but well placed stop losses is so important.  Cut the losers quickly, let the winners run.  If you can get that down, you can be wrong more often than you're right and still be coming out ahead.

Also, because the market is an ever-changing beast, it's a difficult proposition to make it your full time gig.  I spend a lot of time on it, but I have reliable income from two other sources, and in having those backstops, it allows me to better weather periods of market turmoil by never feeling like I have to make a trade.


--------------------

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InvisibleTheStallionMang
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: geokills]
    #27207540 - 02/15/21 02:04 PM (2 years, 11 months ago)

Looks like WSB has named 3 targets for more short squeezes today

BORR, UWMC, AND SRNE

What do you guys think? Will they create another spike like with GME and AMC?


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InvisibleFiery
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: TheStallionMang]
    #27207558 - 02/15/21 02:13 PM (2 years, 11 months ago)

I think that enough people will fall for it that the price might rise- sure.



How are they picking these random companies anyways?


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OfflineEnkidu
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: Fiery]
    #27207567 - 02/15/21 02:16 PM (2 years, 11 months ago)

I wouldnt bet much on it

I took a gamble with amc and down 50% on it

If you get early and sell before a greedy level you might be alright.

Leave a bunch of bag holders like i am with amc :shrug:


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Within You , Without You


:mushroom2::levitate::mushroom2:


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