sts7049 said:

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ag94whoop said:

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i missed my limit buy to avg down WWR by $0.03. guess that was best as I really dont need to keep adding too much to individual positions.

That said, Averaged down SNDL a bit at least.

TLRY, CLOV and WWR are eating my portfolio alive atm. I dont need to act on them, but it would be nice if they would just go back to previous support so that I dont see such a massive negative number...

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not trying to be mean, but i've noticed you post a lot about being negative. maybe you're checking it too frequently...

set some alerts so that you can check back in when there's a run upward.

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You are correct. I will try and limit some of that if I can....

My regular consulting business has been down 90% the last 2 years due to a mix of various market abnormalities that hit in 2019 and then COVID in 2020, so I started swing trading last month for some additional income. I now trade every day for that reason and I guess I let the daily red numbers on a few stocks get to me.

Overall, I have done reasonably well. I have made several first time trader mistakes on mis-reading a stock's positions and buying at the wrong time. I also use this board a bit as a place to vent because my family hates listening to anything about business, much less the stock market, even when I tell them I made a bunch of money....lol

I am incredibly thankful for this board. There is a wealth of knowledge on here and I am looking forward to learning from OA's seminar and from the experience all of yall have.

Just a personal opinion on CLOV...
I kind of think prices MAY climb a bit this week heading into earnings, and if the earning report is really good, we may see a slight raise next week in the support line. Otherwise, it may not move a great deal until mid to late April after all the constant lawsuit reminders fall away.

DPW ruff day, no way the price stays that low.

Man I was only slightly down at 2pm and then come back from work and I'm down much further...which one of you broke things?

We reverted to the daily mean on the S&P and we touched -1 ATR on Nasdaq. Everyone is now all bearish. What do we think tomorrow brings?

I'm not saying we're going to fall off a cliff here, but put/call and SKEW are still really high.

Don't be surprised if we rally the next 2 days or so and then just dump like you can't believe.

cageybee77 said:

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Might buy when they post a profit. Or get a lot closer than they are.

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You can do that, but you wouldn't have bought ROKU at $50 or probably not even now. You wait on the profit, then you'll miss all the growth plays, but to each his own.

Hey I want to toss an idea by you that changed my trading (short term) the most.

**Editors note: this is not meant to be advice for LTH investing although it applies**

The concept of risk management comes up a lot and with the euphoria of the most recent run-up I think most people have not got a great concept of it. The internet is full of people that advocate just BTFD and they are not wrong in the longest of long term ideas.

But when maximizing returns on termed trades, it pays more to know where you're wrong on the trade. You mentioned buying at the wrong time and other new trader "mistakes". I'm here to tell you, every trader makes those mistakes. The difference between old traders and new traders is that the old trader knows when they're wrong. They know that from the time they lay money down and put anything out there. They count that loss and walk away from the table.

As a trader, and one who has had success, you need to put money in your account. But you need to be clear on your exits as well. There can be no "well just a little further" or "I'll average down" if those things are not in your plan. I can distill this down to 3 concepts:

1) your job is to put money into your account

2) you need to know when you have hit max pain per trade and bail.

3) you can always buy it back if you still like the trade.

I typed this out as much for you as for me. I need these lessons every day.

CrazyRichAggie said:

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kyledr04 said:

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The last few days its seemed like doing nothing has been a good strategy.

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I'm doing a lot of plumbing work today!

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The guy with a hot wife subtly mentions he's doing a lot of plumbing today....sure sure....rub it in, rub it in.

panduh bear said:

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Hey I want to toss an idea by you that changed my trading (short term) the most.

**Editors note: this is not meant to be advice for LTH investing although it applies**

The concept of risk management comes up a lot and with the euphoria of the most recent run-up I think most people have not got a great concept of it. The internet is full of people that advocate just BTFD and they are not wrong in the longest of long term ideas.

But when maximizing returns on termed trades, it pays more to know where you're wrong on the trade. You mentioned buying at the wrong time and other new trader "mistakes". I'm here to tell you, every trader makes those mistakes. The difference between old traders and new traders is that the old trader knows when they're wrong. They know that from the time they lay money down and put anything out there. They count that loss and walk away from the table.

As a trader, and one who has had success, you need to put money in your account. But you need to be clear on your exits as well. There can be no "well just a little further" or "I'll average down" if those things are not in your plan. I can distill this down to 3 concepts:

1) your job is to put money into your account

2) you need to know when you have hit max pain per trade and bail.

3) you can always buy it back if you still like the trade.

I typed this out as much for you as for me. I need these lessons every day.

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Thanks for the advice. And I truly think this is something I need to elarn to do. I am just not sure where to begin and exactly which stocks I want to hold long term.

YTD I have exited most positions and taken profits to the turn of about 15-20% ROI. So thats "money in the bank" for far this year.

Right now, in current portfolio, I closed Friday down maybe 5%, but today dropped me to 11% down.

Some of that is just things like DPW, TLRY, SNDL, SYN all dropping from my buy ins, but they all have pretty solid short term upside and DPW, TLRY, SNDL all have explosive potential so I am not worried about them unless I see a pattern of this forming. No idea at all why UWMC keeps falling but its a good company and should recover nicely at some point. BLNK and FUBO have dropped today. Both should recover but seeing the class action suits pop up on FUBO news gives me the "CLOV heebeegeebees" so I will wait a couple days to see how it reacts from here.

WWR was simply a case of me thinking $9 was support, so I bought in kinda heavy cause I like the stock and planned a $2-3 swing profit, and then it falls to $7. I am pretty confident that it will return to a profitable zone within a few weeks, or maybe 1-2 months so I am holding ATM.

CLOV is the wildcard. I got nuttin.

this guy is usually a permabear, but he's gone full bull here...