I am not calling a bottom. What I am saying is that I am hearing of more people selling completely out. Likely the rest will when they look at their March statement, although I don't see how they haven't seen what is happening yet.

The things I am hearing:

We are going to zero.
I want it in cash so I can put it in a safe.
We may not go to zero but it is never coming back.
I realize I don't need the money for five years, but I want to know it will be there in five years.

Harkrider 93 said:

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I am not calling a bottom. What I am saying is that I am hearing of more people selling completely out. Likely the rest will when they look at their March statement, although I don't see how they haven't seen what is happening yet.

The things I am hearing:

We are going to zero.
I want it in cash so I can put it in a safe.
We may not go to zero but it is never coming back.
I realize I don't need the money for five years, but I want to know it will be there in five years.

---

I overheard this last night at a table over from me at a restaurant from some elderly folks... "I've lost over $400,000 dollars."

I think we may have a little bit lower to go. The crash was so fast a lot of people did nothing, now they'll see layoff news and maybe decide to cash out.

SPY put?

khaos288 said:

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I opened a put position. Market should recover now.

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you're all welcome

bmks270 said:

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Harkrider 93 said:

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I am not calling a bottom. What I am saying is that I am hearing of more people selling completely out. Likely the rest will when they look at their March statement, although I don't see how they haven't seen what is happening yet.

The things I am hearing:

We are going to zero.
I want it in cash so I can put it in a safe.
We may not go to zero but it is never coming back.
I realize I don't need the money for five years, but I want to know it will be there in five years.

---

I overheard this last night at a table over from me at a restaurant from some elderly folks... "I've lost over $400,000 dollars."

I think we may have a little bit lower to go. The crash was so fast a lot of people did nothing, now they'll see layoff news and maybe decide to cash out.

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You don't lose if you don't sell.

TXAG14 said:

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SPY put?

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nflx 3/27 250 put

I can assure you I didn't make it up. It happened today with 3 different people.

That is why I said I am not calling the bottom. Some people haven't even seen their total loss yet.

I agree with you. They haven't seen the bad news yet and some still haven't looked at statements.

What I am saying is that I am finally starting to hear real fear. I didn't hear any of it until today. I bet it gets worse, but I am glad to see it finally starting.

Are they living under a rock? They also must not know what coronavirus is either.

First time posting here. But have I been foolish to just let my investments ride it out? Not a day trader just a long player for retirement in another 10 years.

I should have clarified. Yes I have 401K but never really invested in single stocks. The 401K has been rough to see the last couple of weeks.

Harkrider 93 said:

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I can assure you I didn't make it up. It happened today with 3 different people.

That is why I said I am not calling the bottom. Some people haven't even seen their total loss yet.

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the never look never sell strategy.

Looks like the 1-min H&S failed

Thanks..

Seabreeze said:

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First time posting here. But have I been foolish to just let my investments ride it out? Not a day trader just a long player for retirement in another 10 years.

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I'm no expert. 30 years old, so I got time to let it ride.

I haven't done a damn thing. Lost ALOT, but haven't sold ****, so it's not really lost.

Maybe I was an idiot, but I took a hard look at when the spy was down 14% and "thought" about selling, which would have been a good idea today, but who knows at the level we are at now. It could go down another 15% or could go up incrementally from here. If it does the latter, you don't want to be the one selling.

Alright, what's the prediction going into close? Lunch is over....

Very new trader here, but I feel like one of two scenarios will unfold:

1) There's another drop off as layoffs start happening, and companies start going under, and markets begin to fail. Meaning the bottom is in a month from now.

2) in the next week or so things stay low and dwindle down some, but eventually more word gets out on how many people are recovering (or not getting sick at all rather) from the virus. Meaning stocks are basically at floor prices already for the most part.

To the experienced traders, not sure what your thoughts are, but mine are to keep some spare cash in case a second drop off occurs, and in the meantime day trade for the next week or so before things start to settle down some and locking in for the big rise. Does this sound right to you all?

I personally feel like only 1/5 people actually "report" or are even tested. You read reports that if they don't have severe symptoms they aren't even getting tested. So basically only severe cases are reported, thus 2% death rate. I bet it's closer to the flu numbers if every single mild case was actually known, but it isn't.

I think in a few weeks to a month this starts to become apparent and we see people stop panicking. I don't think we see a V but a U in a few months, but what do I know besides do the opposite I do and you'll be rich.

PPAag06 said:

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Alright, what's the prediction going into close? Lunch is over....

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Drop to around Dow 20,250 so I can get a big chunk of VTI

Sooo, I am just jumping in this thing and I think I screwed up buying and selling too fast. What is the limit of trades you can make on Robinhood without being flagged as a day trader?

It is telling me I need $25k in the account to freely trade. I can't get out of my current plays as of right now...

...help me.

Trying to follow this advice

CuriousAg said:

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Sooo, I am just jumping in this thing and I think I screwed up buying and selling too fast. What is the limit of trades you can make on Robinhood without being flagged as a day trader?

It is telling me I need $25k in the account to freely trade. I can't get out of my current plays as of right now...

...help me.

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Your account balance/value needs to stay above $25k. You can sell open positions, but you can't buy new ones if you're flagged and under. I think the number is 3 or 5 in five days

IrishTxAggie said:

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CuriousAg said:

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Sooo, I am just jumping in this thing and I think I screwed up buying and selling too fast. What is the limit of trades you can make on Robinhood without being flagged as a day trader?

It is telling me I need $25k in the account to freely trade. I can't get out of my current plays as of right now...

...help me.

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Your account balance/value needs to stay above $25k. You can sell open positions, but you can't buy new ones if you're flagged and under. I think the number is 3 or 5 in five days

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TDA lets you day trade as long as you aren't in margin.

CuriousAg said:

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Sooo, I am just jumping in this thing and I think I screwed up buying and selling too fast. What is the limit of trades you can make on Robinhood without being flagged as a day trader?

It is telling me I need $25k in the account to freely trade. I can't get out of my current plays as of right now...

...help me.

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I think it said 3 trades in a 5 day sliding window was the max, something absurd.

khaos288 said:

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khaos288 said:

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I opened a put position. Market should recover now.

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you're all welcome

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fml

I assume this is a margin account.

Four round-trip day trade in 5 business days makes you a pattern day trader. That makes you fall under the minimum equity requirements for pattern day traders ($25k).

You should call your brokerage immediately and explain the situation.

ETA: here are the relevant SEC rules

Does anyone trade GASL?

khaos288 said:

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IrishTxAggie said:

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CuriousAg said:

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Sooo, I am just jumping in this thing and I think I screwed up buying and selling too fast. What is the limit of trades you can make on Robinhood without being flagged as a day trader?

It is telling me I need $25k in the account to freely trade. I can't get out of my current plays as of right now...

...help me.

---

Your account balance/value needs to stay above $25k. You can sell open positions, but you can't buy new ones if you're flagged and under. I think the number is 3 or 5 in five days

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TDA lets you day trade as long as you aren't in margin.

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I think Robinhood is any type. Not sure though. Don't use them anymore

So can I not even sell my position for 5 days if I already hit those 3 trades. I have no where near $25k in my account and do not plan to do so for a while.