10 year yield down 7 points. I think we stay in the green today. Tech with a nice bounce.
Stock Markets
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Last: 5 hrs ago by $30,000 Millionaire
***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
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
$3500 AMZN weekly?
Anytime literally everyone is calling for bullish is usually around the time I lose a lot of money.
Let's be bull... not ish
Let's be bull... not ish
Yesterday started bullish - then tech went to poop. Hopefully, today will be a bit better.
Aggiesincebirth said:$30,000 Millionaire said:
By the way, I kind of like the sentiment in here that tech stocks are done and won't rally. Your faces may be ripped off.
I would welcome my face being ripped off if I can spare my cojones. Right now those are pretty blue...
Any guidance on when my face might rip off? Was hoping Friday was the end of it and I'm not sure what changes to make me more bullish but this beat down is brutal
Let's see if this sticks.
MazAg - why so serious?
You don’t trade for money, you trade for freedom.
I know this is a pretty subjective question, but as someone relatively new to all of this, how do y'all decide when to take profits? Also how do you decide how much to take?
Obviously there's no way to know for sure when a stock is at its peak (otherwise we'd all be mega millionaires), however I just wanted to see if y'all had a philosophy as to when you decide to take profits, and how much.
Thanks!
Obviously there's no way to know for sure when a stock is at its peak (otherwise we'd all be mega millionaires), however I just wanted to see if y'all had a philosophy as to when you decide to take profits, and how much.
Thanks!
Aggie118 said:
I know this is a pretty subjective question, but as someone relatively new to all of this, how do y'all decide when to take profits? Also how do you decide how much to take?
Obviously there's no way to know for sure when a stock is at its peak (otherwise we'd all be mega millionaires), however I just wanted to see if y'all had a philosophy as to when you decide to take profits, and how much.
Thanks!
This is also hard to answer. When I hit my target or a stock hits or exceeds +3 ATR, or when I get 80% of the profit on a spread, unless it's run away.
Remember it's never a bad time to take profits. Trading success, contrary to popular belief and what people read is about base hits. I guarantee you I haven't had any of the major 10X trades some of you have this year, but I have had a boat load of base hits. Make the trade, make profit, next.
You don’t trade for money, you trade for freedom.
Saying more, forget trying to get the absolute top tick or the bottom. It just doesn't matter, other than to your ego. Catch the move and be happy catching some or most of the move. Be grateful for the times you catch the top.
Pigs get fat, hogs get slaughtered.
Pigs get fat, hogs get slaughtered.
You don’t trade for money, you trade for freedom.
$30,000 Millionaire said:
Saying more, forget trying to get the absolute top tick or the bottom. It just doesn't matter, other than to your ego. Catch the move and be happy catching some or most of the move. Be grateful for the times you catch the top.
Pigs get fat, hogs get slaughtered.
I think the biggest issue I have is that I hang on to losers too long.
How do you decide your risk tolerance/stop loss on trades?
I get the idea behind it on actual stock acquisitions because you can actually chart the different levels of support and resistance.
Where I have trouble is determining a stop loss (on paper) for my options trades.
I've been left holding the bag on a few options trades because I didn't get out when I should have based on it being a bad trade. I just don't want to be too aggressive with my stops and miss a move down prior to the explosion upward.
I don't set actual stop losses because of things I learned here about MM flashing down to clear them out. That was a real eye opening experience for me.
My personal rule is that if my option goes to -30% I sell. It means I timed it wrong and I need to do better.RigsTx said:$30,000 Millionaire said:
Saying more, forget trying to get the absolute top tick or the bottom. It just doesn't matter, other than to your ego. Catch the move and be happy catching some or most of the move. Be grateful for the times you catch the top.
Pigs get fat, hogs get slaughtered.
Where I have trouble is determining a stop loss (on paper) for my options trades.
For extremely volatile options like daily SPY plays, I'm either taking 50%+ in profit or letting it go to 0.
Yeah I thought I was gonna have an ok day and still ended up in the red. Last week and a half have killed mecageybee77 said:
Yesterday started bullish - then tech went to poop. Hopefully, today will be a bit better.
PLTR with over 2MM volume pre market.
Until PLTR jumps above $25.50 again I'm not even looking at it. I'm HODLing.CrazyRichAggie said:
PLTR with over 2MM volume pre market.
***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
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
I sell options when the stock is no longer exhibiting the characteristics that I want it to vs a predefined percentage. In general, I think you have to be willing to risk the amount paid, and remember that max loss happens sometimes. If an option declines 95% over night and you have time, you may as well keep it to see if you can get out at a better price.
You don’t trade for money, you trade for freedom.
Agreed. I'm ready to see $35+
One more thing - half or more of my trading is just grinding. It is trying to get the basis of shares to zero and then keep monetizing.
Take GPL for example. It's down $0.10 from where I bought it, but I sold a covered call for $0.12, so I've lowered my basis from $0.92 to $0.80. As soon as March expires, I'm going to do it again, and again, and again. It may take me a year but I will have effectively free shares.
Take GPL for example. It's down $0.10 from where I bought it, but I sold a covered call for $0.12, so I've lowered my basis from $0.92 to $0.80. As soon as March expires, I'm going to do it again, and again, and again. It may take me a year but I will have effectively free shares.
You don’t trade for money, you trade for freedom.
Any thoughts on $M? Looks like April $15 Puts might be a good buy when the market opens???
Thanks for taking the time to explain. As a newbie, and I would wager most agree, this helps a lot. I'm sure it gets tiring explaining the same thing again and again, but I presume many people learn by doing and it's tough when most of us new people cannot, or are not in a position, to take trades as frequently.
$30,000 Millionaire said:
One more thing - half or more of my trading is just grinding. It is trying to get the basis of shares to zero and then keep monetizing.
Take GPL for example. It's down $0.10 from where I bought it, but I sold a covered call for $0.12, so I've lowered my basis from $0.92 to $0.80. As soon as March expires, I'm going to do it again, and again, and again. It may take me a year but I will have effectively free shares.
Is it fair to assume woth this strategy that you never deploy capital back into the same stock when you sell the calls? I have done both but almost seems to make more sense to get all of your capital out and moved into something else then those shares are actually free in the case that if the stock goes to zero you lost nothing but time and your return but your capital has been deployed elsewhere
first person to mention fruit stock by name gets whacked
fastgreens said:
Any thoughts on $M? Looks like April $15 Puts might be a good buy when the market opens???
Why?
You don’t trade for money, you trade for freedom.
Aggiesincebirth said:$30,000 Millionaire said:
One more thing - half or more of my trading is just grinding. It is trying to get the basis of shares to zero and then keep monetizing.
Take GPL for example. It's down $0.10 from where I bought it, but I sold a covered call for $0.12, so I've lowered my basis from $0.92 to $0.80. As soon as March expires, I'm going to do it again, and again, and again. It may take me a year but I will have effectively free shares.
Is it fair to assume woth this strategy that you never deploy capital back into the same stock when you sell the calls? I have done both but almost seems to make more sense to get all of your capital out and moved into something else then those shares are actually free in the case that if the stock goes to zero you lost nothing but time and your return but your capital has been deployed elsewhere
Everyone has their own system. I try not to take more than 5% in a single position.
You don’t trade for money, you trade for freedom.
khaos288 said:
first person to mention fruit stock by name gets whacked
Why would you mention it now? Pretty modest move PM, lets see if it actually gets going the right direction during trading hours.
$30,000 Millionaire said:fastgreens said:
Any thoughts on $M? Looks like April $15 Puts might be a good buy when the market opens???
Why?
Just a hunch I guess lol... Seems like a $15 or lower stock from what I've been watching. Trending up now due to Spring Break and Covid restrictions lifting some.
considering it's been a bloodbath for days, a 3 point jump is anti-pattern and not what I would consider modest.txaggie_08 said:khaos288 said:
first person to mention fruit stock by name gets whacked
Why would you mention it now? Pretty modest move PM, lets see if it actually gets going the right direction during trading hours.
Uber moving premarket
I think I'm going to go net free on DIS today. I can sell a little under half my position to accomplish it. Been long since around 90.
Any significance to WWR moving from Nasdaq to NYSE?
this is exactly where I have my price alert setMcInnis 03 said:Until PLTR jumps above $25.50 again I'm not even looking at it. I'm HODLing.CrazyRichAggie said:
PLTR with over 2MM volume pre market.
$30,000 Millionaire said:
One more thing - half or more of my trading is just grinding. It is trying to get the basis of shares to zero and then keep monetizing.
Take GPL for example. It's down $0.10 from where I bought it, but I sold a covered call for $0.12, so I've lowered my basis from $0.92 to $0.80. As soon as March expires, I'm going to do it again, and again, and again. It may take me a year but I will have effectively free shares.
Love this...
This is slowly becoming my main trading plan too. The covered call feels like the ultimate "patience pays off" weapon in the market if you can just use it appropriately and get out of its way and let premium work for you.
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