If I were you - high income and sporadic schedule. Commit the dollars you want to invest and take 1/3 and buy lots of 100 shares in good stable high beta companies. Buy them where you see lows. Sell covered calls out 60 days with plan to buy back or roll them with 2 weeks left in the contract term.

Once you are comfortable add in a second third and second company. But always be looking for this opportunity in the evenings or when you have time.

Not the sexiest way to trade but you are holding asset and generating income that you can compound on the next play.

Im in the same boat as Baylor Spine Guy. Reconstructive surgeon, work way too much. This board has been helpful and made me some money in the last couple of years. (And lost some WWR).

One big thing about trading..

If you are only successful when the going is good, then you aren't truly successful. A lot of us learned this the hard way.

In January of last year everything was a winner. You could throw darts and not miss.

But since about March 2020 (Edit: March 2021, not 2020) most people realized that it wasn't them that was winning. It was the ridiculously strong bull market. Once that ended, especially in small caps, we all realized just how mediocre we were. A couple here (OA, FJ, 30k, one of the Mcinnis personalities, sorry if I'm forgetting anyone) were experienced enough to know how to trade in this recent environment.

Part of being successful is being able to identify momentum of stocks, both up and down, within the context of the overall market. Being bullish this January meant taking small wins and getting out quickly before wild swings killed you. But some of you decided the market was too weak and went full blown bullish and have been killed over the last couple of months. It's what you did last January. But it didn't work this time. Why? Because this time, despite seeing similar setups, we were in the middle of a major market correction within a still bullish trend. You had to be able to identify that. And even if you did, it was still hard as hell to win. Like being a 3 point specialist but all the sudden you're supposed to have the same success shooting frisbees. Got to know how to trade within the market in front of you.

BaylorSpineGuy said:

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Nice advice, thanks for commenting. I don't remember how I find this website. I think someone from the Baylor website mentioned it that they had found it helpful at some point. I now spend more time here than I do on SicEm365…..an unforgivable sin if you ask them haha.

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My guess.....most of them are lurkers here too but don't have the nads to chime in.

JRizzle said:

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Im in the same boat as Baylor Spine Guy. Reconstructive surgeon, work way too much. This board has been helpful and made me some money in the last couple of years. (And lost some WWR).

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You haven't lost anything on WWR yet unless you sold. I started buying shares again the past few weeks.

mazag08 said:

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One big thing about trading..

If you are only successful when the going is good, then you aren't truly successful. A lot of us learned this the hard way.

In January of last year everything was a winner. You could throw darts and not miss.

But since about March 2020, most people realized that it wasn't them that was winning. It was the ridiculously strong bull market. Once that ended, especially in small caps, we all realized just how mediocre we were. A couple here (OA, FJ, 30k, one of the Mcinnis personalities, sorry if I'm forgetting anyone) were experienced enough to know how to trade in this recent environment.

Part of being successful is being able to identify momentum of stocks, both up and down, within the context of the overall market. Being bullish this January meant taking small wins and getting out quickly before wild swings killed you. But some of you decided the market was too weak and went full blown bullish and have been killed over the last couple of months. It's what you did last January. But it didn't work this time. Why? Because this time, despite seeing similar setups, we were in the middle of a major market correction within a still bullish trend. You had to be able to identify that. And even if you did, it was still hard as hell to win. Like being a 3 point specialist but all the sudden you're supposed to have the same success shooting frisbees. Got to know how to trade within the market in front of you.

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Good advice and it reminded me of something I left out of my reply to BSG about trading.

When you're experiencing a win streak with your trades don't get cocky. Overconfidence will cause you to take on more risk in your positions. The market will humble you and if you're overexposed your losses hurt real bad. Stick your rules and stay disciplined.

ProgN said:

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All of them look like hot garbage to me. It wasn't even phased by a 1400 rally on the Nasdaq in for days, and actually drifted lower. That stock is either cheap obscure stock or one that has warned in forward guidance, but it's definitely not a fund fave. I'd avoid it based on what you've posted.

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That's WWR weekly view on all charts / technicals.

For me its a trade up and down to accumulate free share sin a Darvas box to me. Above 1.81-.85ish is the bottom of the last box.

BaylorSpineGuy said:

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Really appreciate and like these thoughts. Am still trying to feel out exactly what my style will be and how to trade accordingly.

But these sorts of posts provide good boundaries/guidelines that are supportive of many different trading styles.

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You've had some great input already from people that I respect a lot. As someone who makes his living in veterinary orthopedic surgery, I can relate to your situation a bit. I haven't been trading much longer than you, but long enough to make some of the mistakes mentioned. I was fooled into thinking the successes of 2020 were because of my genius rather than an incredible bull market. After giving up a lot of those profits, I am now soaking in the wisdom here and trading less for now. You may have heard some of us mention Dan Shapiro. He is big on support and resistance levels for trading. He also says repeatedly that if you have a successful career, don't neglect it for trading. And as Prog mentioned, I would recommend not neglecting your family for your career nor trading. Dan is also big on screen time, as others have mentioned. My biggest problem was making trades I couldn't watch closely because of my surgery schedule. In the bull market, it didn't really matter. Now it does. And finally, if you ever feel anxious about a trade, back off. You are in too deep.

And welcome! I still haven't forgiven you guys for Cody Carlson, but I did pull for you this weekend.

ProgN said:

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FJ43 said:

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ProgN said:

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All of them look like hot garbage to me. It wasn't even phased by a 1400 rally on the Nasdaq in for days, and actually drifted lower. That stock is either cheap obscure stock or one that has warned in forward guidance, but it's definitely not a fund fave. I'd avoid it based on what you've posted.

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That's WWR weekly view on all charts / technicals.

For me its a trade up and down to accumulate free share sin a Darvas box to me. Above 1.81-.85ish is the bottom of the last box.

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I bought a few thousand shares the last week of December around $2 and planted it, then removed it from my screen. There's just too many fund faves on sale that offer more potential ROI right now. WWR isn't going anywhere until they come online imo. I don't regret buying it but I'm not adding more. Hell if anyone followed me on $SE last week at $92 and bought $100 shares then they'd have made more than trying to trade 5000 shares of WWR hoping for $.25 run. I didn't think $SE would increase 30% in a week but arguing with myself about selling it is better than the alternative.

JMO

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I am with you and buying again on WWR. Long term hold for me.

If any of you wonder why I trade micros it's because I'm not a good futures trader yet. I'm paying my tuition.

I think we're going to get that seasonal run, maybe like you said after a small dip or consolidation. I'm still not ruling out the possibility that we go back to aggressive red candles this week and realize last week was opex.

BaylorSpineGuy said:

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So what's the move tomorrow on the indexes? They are majorly overbought now, right? Is there a pullback with continued uptrend or do we keep on ripping?

Hard to say at this point, but a nice pullback may give another opportunity to get in on this little bull run. Seasonality suggests we continue up for another 6 wks or so, yes?

This time reminds me of early October when we were toying with a big pullback and then the market took off from 427 to 460 and was green like 9 days in a row. Does this happen again?

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I don't want to buy here. Want to buy at 4350 or 4400

$30,000 Millionaire said:

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BaylorSpineGuy said:

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So what's the move tomorrow on the indexes? They are majorly overbought now, right? Is there a pullback with continued uptrend or do we keep on ripping?

Hard to say at this point, but a nice pullback may give another opportunity to get in on this little bull run. Seasonality suggests we continue up for another 6 wks or so, yes?

This time reminds me of early October when we were toying with a big pullback and then the market took off from 427 to 460 and was green like 9 days in a row. Does this happen again?

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I don't want to buy here. Want to buy at 4350 or 4400

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Back test and V off the 50EMA would be nice.

Historically, we get a 2-3% pullback after quad witching. Who knows what happens, but that is the normal, but market will do what it wants.

Yes….and Monday after OpEx has been most
Volatile trading day of the year each time so far. Would not be shocked to see the market run green to trap trendspotting investors.

Interesting how Key and ASB have almost identical charts. I think any of those three on the watch list is repetitively easy money. Set a stop just below the ema120 line. Sell when it hits 15%