So I've been trying to trade the indexes nearly exclusively lately. For folks with plankton sized accounts like mine... I highly recommend trading the IWM. It moves very similar to the big indexes, but the contracts are way cheaper. They are also incredibly liquid just like the major indices.
Stock Markets
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Last: 34 min ago by ProgN
They all have their own personalities. The product chooses the trader by the way.
You don’t trade for money, you trade for freedom.
We're any of you traders back in the 2000 time frame? What was it like to invest during a legit multi year bear market?
Mornun!
After skimming/reading through the thread it looks like folks are struggling a bit.
Couple tips to consider.
Don't overtrade
No FOMO
Try picking one index or stock and just trade that vs following a zillion stocks or tweets.
ONLY trade when the setup hits entry and exit targets.
Don't chase
Play smaller
Be happy with 10,15,20% quick gains and don't worry about the 'but it might keep going' syndrome. There's always another trade.
Cut quick and manage the downside losses most of all.
One small trade for 10-20% is progress vs forcing trades or hoping. With volatility as it is manage your expectations.
In the words of Jimbo….It ain't like it used to be.
After skimming/reading through the thread it looks like folks are struggling a bit.
Couple tips to consider.
Don't overtrade
No FOMO
Try picking one index or stock and just trade that vs following a zillion stocks or tweets.
ONLY trade when the setup hits entry and exit targets.
Don't chase
Play smaller
Be happy with 10,15,20% quick gains and don't worry about the 'but it might keep going' syndrome. There's always another trade.
Cut quick and manage the downside losses most of all.
One small trade for 10-20% is progress vs forcing trades or hoping. With volatility as it is manage your expectations.
In the words of Jimbo….It ain't like it used to be.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
$30k - haven't seen you post a 50k update in a while. If you have time can you do a quick summary of which plays you are still in and thoughts on them. Mainly wanted to see how you were handling holdings when they dropped like MARA OSTK JNPR.
Greatly appreciate all the help and like following the 50k account to see how manage a smaller account like mine. I'm sure it's a pain in the ass to keep up with but helping me a lot on thought process/different strategies.
Greatly appreciate all the help and like following the 50k account to see how manage a smaller account like mine. I'm sure it's a pain in the ass to keep up with but helping me a lot on thought process/different strategies.
https://my.xfinity.com/articles/news-science/20220430/AS--India-Heat-Wheat-f016
That should increase the price of food. Good times.
Quote:
EW DELHI (AP) An unusually early, record-shattering heat wave in India has reduced wheat yields, raising questions about how the country will balance its domestic needs with ambitions to increase exports and make up for shortfalls due to Russia's war in Ukraine.
Gigantic landfills in India's capital New Delhi have caught fire in recent weeks. Schools in eastern Indian state Odisha have been shut for a week and in neighboring West Bengal, schools are stocking up on oral rehydration salts for kids. On Tuesday, Rajgarh, a city of over 1.5 million people in central India, was the country's hottest, with daytime temperatures peaking at 46.5 degrees Celsius (114.08 Fahrenheit). Temperatures breached the 45 C (113 F) mark in nine other cities.
But it was the heat in March the hottest in India since records first started being kept in 1901 that stunted crops. Wheat is very sensitive to heat, especially during the final stage when its kernels mature and ripen. Indian farmers time their planting so that this stage coincides with India's usually cooler spring.
That should increase the price of food. Good times.
I could be wrong, but I can't imagine many here are currently making 20% on trades.
Jet Black said:
I could be wrong, but I can't imagine many here are currently making 20% in trades.
Ask yourself why you're entering. If the trade doesn't basically immediately move in your favor for a day trade - why are you in it?
You don’t trade for money, you trade for freedom.
Jet Black said:
I could be wrong, but I can't imagine many here are currently making 20% in trades.
And at a minimum, only lose 20%
You don’t trade for money, you trade for freedom.
$30,000 Millionaire said:Jet Black said:
I could be wrong, but I can't imagine many here are currently making 20% in trades.
Ask yourself why you're entering. If the trade doesn't basically immediately move in your favor for a day trade - why are you in it?
So if you get in and it starts moving down, dump it?
Jet Black said:
I could be wrong, but I can't imagine many here are currently making 20% on trades.
Remember trades go both ways. Bull and bear trades. You can make money either way as a trader.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
FJ43 said:Jet Black said:
I could be wrong, but I can't imagine many here are currently making 20% on trades.
Remember trades go both ways. Bull and bear trades. You can make money either way as a trader.
It's definitely possible but you have to do it based on your own technical analysis. If you are doing it based off your own favorite indicators then you'll know where to sell if it violates the reason you bought it. If you try to do it based off a rec from Twitter or even anyone in here, then you'll probably lose because you're relying on a post/tweet to sell. Never do that, just go to Vegas and at least have more fun but arriving at the same result.Jet Black said:
I could be wrong, but I can't imagine many here are currently making 20% on trades.
Jet Black said:$30,000 Millionaire said:Jet Black said:
I could be wrong, but I can't imagine many here are currently making 20% in trades.
Ask yourself why you're entering. If the trade doesn't basically immediately move in your favor for a day trade - why are you in it?
So if you get in and it starts moving down, dump it?
Yes. There will always be more opportunities. I can't emphasize this enough. You need to leave room for price vibration, but if a support is broken, get out.
You don’t trade for money, you trade for freedom.
Jet Black said:
I could be wrong, but I can't imagine many here are currently making 20% on trades.
I was up 30% on my trades for the year until I ****ed up with ZIM and didn't set a stop loss after the dividend date. Picking myself back up now.
Buffets portfolio is down about 10% YTD
Buffet and Munger were ruthless on Robinhood and crypto today at their share holder meeting.Dan Scott said:
Buffets portfolio is down about 10% YTD
I saw their comments. Link was tagged on Drudge Report. They lambasted market makers for making investing into "a casino".
They are cash heavy, but the reality is that bear markets affect all sectors, nothing is spared. Doesn't mean there won't be winners in that time, but just have to look for them.
They are cash heavy, but the reality is that bear markets affect all sectors, nothing is spared. Doesn't mean there won't be winners in that time, but just have to look for them.
You're correct but when Buffet is heavily in a company people should count that as insurance. AAPL an RH are just 2 he's in with size. Those are much easier to trade based off technicals because Buffet scares short sellers. I suspect Buffet has more inside info on the companies he owns.BaylorSpineGuy said:
I saw their comments. Link was tagged on Drudge Report. They lambasted market makers for making investing into "a casino".
They are cash heavy, but the reality is that best markets affect all sectors, nothing is spared. Doesn't mean there won't be winners in that time, but just have to look for them.
ProgN said:You're correct but when Buffet is heavily in a company people should count that as insurance. AAPL an RH are just 2 he's in with size. Those are much easier to trade based off technicals because Buffet scares short sellers. I suspect Buffet has more inside info on the companies he owns.BaylorSpineGuy said:
I saw their comments. Link was tagged on Drudge Report. They lambasted market makers for making investing into "a casino".
They are cash heavy, but the reality is that best markets affect all sectors, nothing is spared. Doesn't mean there won't be winners in that time, but just have to look for them.
He's in NU
I'm in NU and down big. I hope there's some positive news soon…
RH is cheap but I wish it went down more this past week to under $300. Buffet and big institutions own about 40% of the stock. The company is buying back stock. The PE is 15. The only scary thing was that last conference call where CEO sounded bearish
one of my best weeks ever, was last week. and it wasn't done making 100 trades. On Thursday and Friday, I think combined I had 4 trades. Friday I had 1 trade, that was it. I looked for my entry and the setup I wanted (for scalps on both). When the stars aligned and I got my entries, I went in. I hit AMD thursday and did well, then TSLA lotto call was a 2x for me on Friday (could've played a put too! but sat out the rest of Friday happy with a big green week). I almost added some SPY puts Friday mid day when the market was teetering on dump and was just going to set a stop and ride them. I decided ito enjoy some time with our little man instead and it was stress free!Jet Black said:
I could be wrong, but I can't imagine many here are currently making 20% on trades.
disclaimer: I'm definitely still learning here!
and like FJ and Jimbo said, it ain't like it used to be! On most scalps I'm plenty happy with 10 to 20% (if it hasn't hit my next level yet I will sometimes set a stop and try to ride it there).
I like itBob Knights Liver said:
In my long-term accounts I had 65% in cash. My plan was to move back in 5 tranches (roughly 13% of total account value). I moved the first tranche in this week before earnings. I will likely do another around 4000 and a third if we dip under 3800. I feel better about stepping back in so that I don't have to stress so much about interpreting when the bottom is in.
These are also long-term accounts and I'll be buying VOO and a Value fund. If this was <10 year holds or I was targeting individual stocks, I might do it differently.
but
what if the 1st tranche gets triggered and then we shoot to the moon?
you would have never filled the other planned levels
Yes, I was young but just like all young arrogant dicks, I had it all figured out. I actually blew up my personal trading account. After conducting the autopsy, I learned from my mistakes. The market will humble you but learn something from your mistake so the chance you repeat it is less. I've posted before that pain is the best teacher and that's why this board is special. Older, experienced traders/investors share the mistakes that destroyed their accounts in the past in the hope that you don't blow up your account. Unfortunately, most people read the post an don't take the advice to heart until they blow up their account. Profiting on 5 trades in a row breeds arrogance and more risk taking, spoiler alert, you're lighting the fuse to the bomb. Pain is the best teacher but us olds truly want you to not go through that.Philip J Fry said:
We're any of you traders back in the 2000 time frame? What was it like to invest during a legit multi year bear market?
RH is a good stock but 319 has been strong support. If the market capitulates, then it could see 300 or less but I'd scale in my first bite of the apple at 319. The customers that shop there really DGAF about inflation because they have Star Lord money. The CEO on the conference call came across as too negative. It's already been crushed and like you posted, Buffet and institutions like it. When the market does reverse it will fly but I wouldn't try to time it with options, leaps maybe, but not options. Owning a little at 319 beats owning none because it didn't print 300. JMODan Scott said:
RH is cheap but I wish it went down more this past week to under $300. Buffet and big institutions own about 40% of the stock. The company is buying back stock. The PE is 15. The only scary thing was that last conference call where CEO sounded bearish
I remember having the choice of putting money in Metrocom (a broadband wireless company in 2000s that was going to change the world), Pets.com, and Amazon.
I decided Barnes and Noble.com would win out over Amazon and put my money on the other two. I put a LOT of money on metrocom. I saw my investment quadruple and almost immediately went to Zero. Could not believe it.
I decided Barnes and Noble.com would win out over Amazon and put my money on the other two. I put a LOT of money on metrocom. I saw my investment quadruple and almost immediately went to Zero. Could not believe it.
Bob Knights Paper Hands
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No, I we confirm a reversal upward somehow, I could leg back in on the way up as well. That way I don't jump all back in at the top of a dead cat bounce, but I also do sit in cash during a bull run waiting on that break to the downside.
Here's some interesting fodder on TWTR this morning. I was actually watching that day and remember it. No idea if this is nonsense or what but at least
For good conversation.
For good conversation.
Bob Knights Paper Hands
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I do believe there are large "market makers" that will create setups to generate liquidity or accumulate cheeper. However, I don't believe there is some grand conspiracy pentaverit that plan the top or bottom of the market months ahead. I have been wrong a few times before, so take that for what it's worth.
Next Year Is Our Year said:
$30k - haven't seen you post a 50k update in a while. If you have time can you do a quick summary of which plays you are still in and thoughts on them. Mainly wanted to see how you were handling holdings when they dropped like MARA OSTK JNPR.
Greatly appreciate all the help and like following the 50k account to see how manage a smaller account like mine. I'm sure it's a pain in the ass to keep up with but helping me a lot on thought process/different strategies.
Still in all. I think I told you all at the beginning I was willing to hold commons in anything I bought. The one I should have sold but didn't while I was busy with work is QQQ calls. We have some time on that, so I want to see what happens with the fed this week now.
- ACB
- CWH
- DRIP
- DKNG
- ESSC
- GDXJ
- JNPR
- MARA
- NFLX
- OSTK
- OXY
- PETZ
- QQQ calls
- TLT calls
I'd prefer to have Netflix and QQQ do overs, but neither will break us. I haven't taken many positions lately because, well, you know why. We can go lower, but you're shorting in the hole here. We may bounce, or not. Literally everything has sold and I try not to panic sell at lows.
It sucks to sit through draw downs. It's part of it.
I do want to reiterate that you all should do what you think is best for your accounts.
You don’t trade for money, you trade for freedom.
Charismatic Megafauna
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AG
Lot of doom and gloom, and newly minted recession experts popping up on tiktok/twitterverse over the weekend. I think we're gonna be alright
I know there are some on here still bullish on shipping, i.e. ZIM, and others. I was pretty high on BHP in the past. This is something to consider and is consistent with the contracting GDP, etc. something to consider…
Containers bound for the US from around the world is about to experience a serious volume drop. By June U.S. port volumes may match May 2020 - the early days of the COVID quarantine. pic.twitter.com/FG9Ekz0QS0
— Craig Fuller 🛩🚛🇺🇦 (@FreightAlley) May 1, 2022
Quick thesis on some of these:
- MARA is crypto exposure. I don't think Bitcoin is going to die. It's too popular and you're starting to see an expansion in miners. It's volatile and overly punished IMO.
- OSTK is #4 in US eCommerce and perfect for middle class consumers. They have almost zero debt and competent management. Take a look at their balance sheet. Deep value P/E
- ACB - do you see a future where pot isn't legal eventually?
- CWH: 10% dividend and competent management. Travel is not going to diminish
- OXY: Warren Buffet bought them. Home boy doesn't miss on industrials
- GDXJ: I believe in Gold with inflation. I think patience will reward us. Look at a weekly chart for gold and tell me what you think.
- MARA is crypto exposure. I don't think Bitcoin is going to die. It's too popular and you're starting to see an expansion in miners. It's volatile and overly punished IMO.
- OSTK is #4 in US eCommerce and perfect for middle class consumers. They have almost zero debt and competent management. Take a look at their balance sheet. Deep value P/E
- ACB - do you see a future where pot isn't legal eventually?
- CWH: 10% dividend and competent management. Travel is not going to diminish
- OXY: Warren Buffet bought them. Home boy doesn't miss on industrials
- GDXJ: I believe in Gold with inflation. I think patience will reward us. Look at a weekly chart for gold and tell me what you think.
You don’t trade for money, you trade for freedom.
OXY, EOG, DVN should all be good buys. Don't see any of them being losers over the next 12 to 18 months.
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