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McInnis 03
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In reply to Maximus_Meridius • 9:48p, 5/15/20
AG
Maximus_Meridius said:
Yup. Worked in the QRC in BEA.


Good grief man. I stepped foot in the pump shop once, maybe twice. Never in the seal shop. Good memory on you!
***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***

B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
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McInnis 03
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In reply to cisgenderedAggie • 9:51p, 5/15/20
AG
cisgenderedAggie said:
How big was da dick?


Username checks out
***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***

B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
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frankm01
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1:04a, 5/16/20


The lesson l learned this week. "Be kind to the people you meet on the way up, because you're gonna meet those same people on the way down."

Have a great weekend!

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ProgN
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6:43a, 5/16/20
Good morning fam.

I'm curious, so I'd like to ask y'all a question, since it's the weekend and markets are closed.

What is the single most valuable lesson you've learned in your investing/trading experience? Regardless if you're a newbie or decades long trader/investor.

For me, it was learning to take a loss, when a trade moves against what you thought it would do. This was extremely hard for me at the beginning, but thankfully, it's almost automatic now and has saved me a lot money by not going down with the ship.

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jj9000
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In reply to ProgN • 7:08a, 5/16/20
AG
Not just one thing.

Being patient and letting opportunities develop.

Small losses hurt psychologically more than they hurt financially. A $1,000 loss hurts more than the feel good of a $1,000 gain.

Big picture - Pay yourself. You've earned it, and when the time comes, they're not gonna be shoveling cash into your casket.
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Charismatic Megafauna
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In reply to jj9000 • 7:22a, 5/16/20
AG
jj9000 said:


Being patient and letting opportunities develop.



Yep this, sit in cash if there's nothing available at the moment that looks like a good opportunity and value. Money burning a hole in my account tends to get thrown away. Really a lot like life.

Also don't chase. Sometimes it works but for me it usually leaves me holding bags. Tough to see bynd/mrna/acb run and not be in it but the longer those things run the more people there are ready to take their 100% and move on
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oldarmy1
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7:42a, 5/16/20
AG
My wife did it again. Bought SRNE after reading a report earlier in the week. She didn't even know it had jumped 158% until this morning.

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ProgN
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In reply to oldarmy1 • 7:51a, 5/16/20
oldarmy1 said:
My wife did it again. Bought SRNE after reading a report earlier in the week. She didn't even know it had jumped 158% until this morning.

Can she set up a twitter account? If so, she's a must follow.

ETA: Looks like she might be getting you a new dock for Father's Day.
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BrokeAssAggie
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8:01a, 5/16/20
Here's the court fillings for the ZEST vs WMT

Anyone with some V&E buddies?

https://www.courthousenews.com/wp-content/uploads/2018/08/zest.pdf
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Spaceship
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In reply to ProgN • 8:11a, 5/16/20
AG
Prognightmare said:
Good morning fam.

I'm curious, so I'd like to ask y'all a question, since it's the weekend and markets are closed.

What is the single most valuable lesson you've learned in your investing/trading experience? Regardless if you're a newbie or decades long trader/investor.

For me, it was learning to take a loss, when a trade moves against what you thought it would do. This was extremely hard for me at the beginning, but thankfully, it's almost automatic now and has saved me a lot money by not going down with the ship.


1. I have to remind myself to be twice as patient and twice as disciplined as my instincts tell me to be.
2. Sometimes a decision is obvious, and don't overthink it.
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Rice and Fries
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In reply to TChaney • 8:12a, 5/16/20
If you read the article, it says they have to stay until Dec 31st, 2021 or must pay back 80% of the bonus. So they can't resign or anything and walk away. 20% can be clawed back if they don't meet performance goals.

I get the outrage, but the last thing you'd want is to see your CEO, CFO, CEO of HR, and CEO of merchant ole exchange walk out.

It's well known that executives get paid well to stay with the ship in BK. If they didn't, good luck trying to find a quality executive who WOULDNT demand just as much to join a sinking ship.

I mean, what would y'all do in that situation?
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AgShaun00
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In reply to BrokeAssAggie • 8:12a, 5/16/20
AG
CrazyRichAggie said:
Here's the court fillings for the ZEST vs WMT

Anyone with some V&E buddies?

https://www.courthousenews.com/wp-content/uploads/2018/08/zest.pdf
If those numbers are true, then they should get more for stealing it. Good faith verbiage is interesting. Wonder what the contracts actually say. I got no legal background

We should start a negative twtr campaign against Walmart. That is some shady stuff
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Maximus_Meridius
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In reply to McInnis 03 • 8:28a, 5/16/20
AG
McInnis 03 said:
Maximus_Meridius said:
Yup. Worked in the QRC in BEA.


Good grief man. I stepped foot in the pump shop once, maybe twice. Never in the seal shop. Good memory on you!


Nah, I spent my first month in Deer Park following LW around because... I'm still not really sure, training I guess. I'd send you emails sometimes trying to figure out who to ask certain questions because our boss wasn't always useful in that regard.
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Maximus_Meridius
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In reply to ProgN • 8:54a, 5/16/20
AG
To be honest, I'm not sure what the most valuable lesson I've learned is, but knowing that you don't stop trading at the bell is pretty high up there. Always be reading, looking at charts, YouTube videos of market updates, etc to prepare for the next day. I don't always listen to that, and I'm still trying to gain that basic knowledge foundation on charts, but I'm getting better.
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krosch11
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In reply to ProgN • 8:59a, 5/16/20
AG
Prognightmare said:
Good morning fam.

I'm curious, so I'd like to ask y'all a question, since it's the weekend and markets are closed.

What is the single most valuable lesson you've learned in your investing/trading experience? Regardless if you're a newbie or decades long trader/investor.

For me, it was learning to take a loss, when a trade moves against what you thought it would do. This was extremely hard for me at the beginning, but thankfully, it's almost automatic now and has saved me a lot money by not going down with the ship.



1) trust the technical. Some of my biggest gains have been on aggressive Darvas box trades. Holding when touching the support line and not panicking.
-1b: trade AFTER confirmation, the small gain you might make trying to get in front of a trade can cause you to lose massively
2) DONT trade impulsively, I've lost some because of a quick alert that triggered and I knew nothing else about the actual equity. Data is your friend.
3) celebrate the wins and learn from losses.

I have much to learn still, and will admit I am much slower to try new options strategies until I've played it 10-15 times successfully on paper money. Which leads me to
4) don't try to trade what you can't understand yet. If you don't understand the trade , you don't know your exit .

Lastly , and maybe most importantly considering the great info on this thread.
5) seek wise counsel.
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McInnis 03
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In reply to oldarmy1 • 9:07a, 5/16/20
AG
oldarmy1 said:
My wife did it again. Bought SRNE after reading a report earlier in the week. She didn't even know it had jumped 158% until this morning.



You missed us jumping on a 2.5c in Dec for 2.00-2.40 when the stock was at 4.80
***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***

B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
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Ragoo
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9:11a, 5/16/20
AG
I think I am only going to buy verticals from here on out. Profit is capped but risk is significantly reduced.
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tramaro1
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In reply to ProgN • 9:23a, 5/16/20
AG
Prognightmare said:
Good morning fam.

I'm curious, so I'd like to ask y'all a question, since it's the weekend and markets are closed.

What is the single most valuable lesson you've learned in your investing/trading experience? Regardless if you're a newbie or decades long trader/investor.

For me, it was learning to take a loss, when a trade moves against what you thought it would do. This was extremely hard for me at the beginning, but thankfully, it's almost automatic now and has saved me a lot money by not going down with the ship.


I have struggled with taking a loss as well, tend to go down with the ship which has destroyed my portfolio. What is your typical cutoff % loss before you get out (20%, 30%, 50%)? I have had several trades where I lost 50% the it comes back for a gain, then again I have rode a lot to $0.

Another thing is don't over extend yourself and blowup your account. I believe Irish talked about that a few days ago. This currently happened to me, I was riding a nice wave of gains. Then started buying more or getting into too many trades. Is sucks trying to slowly build your capital back up.
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Aggies1322
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In reply to ProgN • 9:27a, 5/16/20
AG
Prognightmare said:
Good morning fam.

I'm curious, so I'd like to ask y'all a question, since it's the weekend and markets are closed.

What is the single most valuable lesson you've learned in your investing/trading experience? Regardless if you're a newbie or decades long trader/investor.

For me, it was learning to take a loss, when a trade moves against what you thought it would do. This was extremely hard for me at the beginning, but thankfully, it's almost automatic now and has saved me a lot money by not going down with the ship.


To always check the bid/ask spread and put a limit price in place. Saw a contract that I thought was 2.80 or something like that, bought at market price which it said was 4.50. I'm new, if that isnt abundantly clear.
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TChaney
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In reply to ProgN • 9:34a, 5/16/20
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Richierich2323
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9:45a, 5/16/20
The biggest thing I have learned is to take my profits and to limit my loses. I used to have the mentality of...oh well, it's down it will rebound. Now, I am quicker to pull out of a stock and re-enter at a lower price or find another stock with better prospects.
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IrishTxAggie
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In reply to TChaney • 9:49a, 5/16/20
AG
It is absolutely true about China. I deal with them a lot and it is all about feeling like they've won and got the better deal. They lie, they cheat, and they will steal.

I have to put hiring freezes on anytime we begin talks with a new potential large client. We also have very restrictive policies in place on facility. My personal computer isn't on our network and won't use the wifi when I'm in China. The propriety stuff is only on my computer and the owners and we're never on our system. The lengths gone to to protect IP there is amazing. The Chinese are crooked as ****, but it's so hard to stay away from the allure of the sheer market size if you can navigate the bull*****
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Carlo4
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In reply to ProgN • 9:51a, 5/16/20
AG
Prognightmare said:
Good morning fam.

I'm curious, so I'd like to ask y'all a question, since it's the weekend and markets are closed.

What is the single most valuable lesson you've learned in your investing/trading experience? Regardless if you're a newbie or decades long trader/investor.

For me, it was learning to take a loss, when a trade moves against what you thought it would do. This was extremely hard for me at the beginning, but thankfully, it's almost automatic now and has saved me a lot money by not going down with the ship.



Forgive the length... great topic and hoping this helps someone. Definitely new to this but always followed what's been going on since 2008.

My lessons.

1. Educate yourself - no matter the experience level - keep learning. Videos, books, discussions, news, learn by doing. Research where your money is going.

2. Don't be afraid to fail. No ragrets. Not one letter. Life is about learning lessons, and trading falls there for sure. Learn from every trade

3. Emotions and feelings kill you here. It's not personal... it's strictly business.... this is a numbers game. Forget the last loss and focus on the next win. Personally, I think we see a 40% to 70% drop coming in the markets over time. However, I would be broke betting on that to happen. I lost $2,500 before I quit trading on ideas and not what the market tells me... thankfully, I learned on profits.

This also works on falling in love with a stock. My dad sold Apple the other day for $315 or so with an entry average around $110. He thinks it's the best company ever and would do no wrong nor lose money. After selling it this week, I've never seen him happier. He became obsessed with watching it and moved on now to enjoy his profits.

4. Let the market signal when to trade. Do not trade or be in the market just because. Timing is everything. Trend lines, MACD, resistance, blah blah etc.

5. Set limits. Be ok with taking profits and limiting losses, especially in times of volatility.
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McInnis 03
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In reply to Ragoo • 10:41a, 5/16/20
AG
Ragoo said:
I think I am only going to buy verticals from here on out. Profit is capped but risk is significantly reduced.


Been looking at selling vertical calls but haven't couraged into it yet. Until this box breaks on spy, I don't want to commit to direction yet.

That said, vertical calls atm on wayfair has been screaming at me.
***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***

B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
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Proposition Joe
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10:54a, 5/16/20
This is a non-political comment and more about "evaluating the climate". We've got a President that very much prides himself on the stock market's gains. Because of that you have to understand that despite what the technicals may say and despite what might be a really bad fiscal decision 10 years down the line, there is a backstop unlike no other right now.

In short - don't assume the market will be rational.
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Ragoo
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In reply to McInnis 03 • 11:00a, 5/16/20
AG
I am thinking ATM $1 wide vertical on SPY out 14 days.

SPY only has to move $1 to achieve max profit.

No time decay since you bought and sold a call the theta erodes both evenly.

Ladder into trades as SPY moves up in the box.

Then ladder puts to hedge.
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spud1910
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11:26a, 5/16/20
AG
I think the biggest thing I have learned (still learning) is to not be greedy. Too many times I have had an option run up 2o, 30, 40% and look so good I thought I would hold overnight, only to have the stock fall AH and destroy my option.
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Boat Shoes
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In reply to spud1910 • 11:33a, 5/16/20
AG
spud1910 said:
I think the biggest thing I have learned (still learning) is to not be greedy. Too many times I have had an option run up 2o, 30, 40% and look so good I thought I would hold overnight, only to have the stock fall AH and destroy my option.


This. It's knowing when to sell. I'm always holding trying to get net free and then bam, something turns the trade. Still haven't figured out a solid method of harvesting gains and stopping losses. Do you guys typically set a stop order on calls/puts at a certain percentage loss?
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McInnis 03
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In reply to Ragoo • 11:44a, 5/16/20
AG
Ragoo said:
I am thinking ATM $1 wide vertical on SPY out 14 days.

SPY only has to move $1 to achieve max profit.

No time decay since you bought and sold a call the theta erodes both evenly.

Ladder into trades as SPY moves up in the box.

Then ladder puts to hedge.


My personal issue with this would be that I'm sure I'd have directional issue. But if I respect the darvas box I guess I'd be right more than not
***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***

B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
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tramaro1
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12:44p, 5/16/20
AG
What is everyone's strategy when cutting your loses on a trade? Is it based on percentage loss, volumes, stock price vs strike price, etc. or a combination? I know this is a loaded question and there are lots of factors, but some of the seasoned vets strategy might help others so they don't lose everything.
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texagbeliever
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1:18p, 5/16/20
I wouldnt say I have learned it; but the notion of supply and demand is something i hadn't really contemplated. I think it plays a bigger role in crisis when supply goes from a constant predictable value to one that can fluctuate much more. By that I mean companies and individuals pulled out of the stock market seeing it as too volatile. I wonder what the return of that cash will have and how quickly it would materialize.
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Grown Pear
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In reply to tramaro1 • 1:44p, 5/16/20
AG
tramaro1 said:
What is everyone's strategy when cutting your loses on a trade? Is it based on percentage loss, volumes, stock price vs strike price, etc. or a combination? I know this is a loaded question and there are lots of factors, but some of the seasoned vets strategy might help others so they don't lose everything.
For me (and not saying this is right) I think the strategy could be different between trading/options/etc and other investing because of the time decay... however, for me in determining when to cut my losses it has more to do if the environment has changed or the future outlook of the investment. I'm more of the long-term accumulator than active trader.

An overly simplified example would be holding O&G stock and a look at the overall energy sector earlier this year. XOM/CVX stock declined and I saw those unrealized losses. Typically I prefer those opportunities to "buy on discount" but with the environment that were facing with potential "shut downs", substantially declining demand, plus Saudi/Russia flexing... it did not appear to be a temporary short term dip. The future outlook was vastly changed so I sold my stock and realized those losses. "Luckily" if you can call it that, those stocks continued to get railed substantially more. Since then I've bought back in some although you could say the future outlook is still quite cloudy, that has more to do with how cheap these assets became and I had more of an appetite to wait a longer time for conditions to improve when my capital invested in the same amount of shares was half the amount it was before.

A subset of the decision is from a tax management standpoint to harvest some losses but am very careful not to let the tail wag the dog.
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jet99
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3:11p, 5/16/20
One of the key lessons I am still trying to learn as I have become more active in short term trading is how to separate my longer term opinions of the market from the short term technical trends. If I have a general bearish or bullish view of the market or particular stock over the medium/long term I have let that skew my interpretation of the short term technicals far too much in the past and I am trying to get better about just reading the short term signals from a neutral perspective as the market presents them. It's still very much a work in progress. I must also say that the new concepts (at least to me) around supply and demand price zones and VWAP have made the technical analysis much more intuitive and logical for me. As an engineer I have a fundamental need to understand the dynamics of why the technical analysis works and those factors have helped me get over the "this is just the way stocks move" hump.
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FishrCoAg
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5:43p, 5/16/20
AG
Don't chase. Don't be greedy. Use naked puts to acquire stocks at a price you want them, or pocket the premium.
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12thMan86
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In reply to Ragoo • 6:12p, 5/16/20
AG
Ragoo said:
I think I am only going to buy verticals from here on out. Profit is capped but risk is significantly reduced.


I'll tell you what are fun are SPX verticals that expire the same day. They are lottos but work regularly in this violent market. On Friday I bought the 2850-2855 call vertical for .65 late in the day. It maxed out at 4.65. I've done these for the last month. Hit about 40%. When you can hit 40 percent and make anywhere from 5:1 to 9:1, it works. You have to be right on your direction of course. Theta decay works in your favor big time.

I agree I have started buying more verticals. The key is how far out you buy them.

Good luck!
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