The other thing, if you are trading you are looking for a setup (a situation where you think you know the next move) and if that is true should know pretty quick if you are correct. If you are wrong then get out. Hope isn't a setup. I'm be had a pretty dang good streak that last 2 months and still struggle with this mindset.
Stock Markets
25,670,775 Views |
234867 Replies |
Last: 2 hrs ago by zgolfz85
Trading is 'if this then that'. Both ways.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
This has helped some actually. I have learned to come into trades with more of a plan. But then that causes some of those paralysis issues like oh I had a plan it's going to work. Let me wait a few more minutes. Or let me add another contract or 2 since it's lower.
Think it will just take time to become more robotic but I'm getting there. Much better than I used to be when I found this thread a few years ago.
Think it will just take time to become more robotic but I'm getting there. Much better than I used to be when I found this thread a few years ago.
Hey! That's a legit strategy with Nat gas.$30,000 Millionaire said:
You all are way too kind.
I take losses all the time. I took an L on NVDA today.
Everyone has systems. The systems have to work, though. Bad risk management is what blows up trading accounts. I know this because I have blown up. The key thing is I came back.
Bad risk management is two things in my opinion:
1) ego. Not being willing to be wrong and being afraid to take an L. This includes averaging down. There is generally no trade plan when this happens. "I think nat gas should go up because I feel it should".
2) failing to think about what you can lose and sizing accordingly. Max overnight risk on a triple leveraged index ETF is 15% (limit down open). I size for that possibility.
techno-ag said:Hey! That's a legit strategy with Nat gas.$30,000 Millionaire said:
You all are way too kind.
I take losses all the time. I took an L on NVDA today.
Everyone has systems. The systems have to work, though. Bad risk management is what blows up trading accounts. I know this because I have blown up. The key thing is I came back.
Bad risk management is two things in my opinion:
1) ego. Not being willing to be wrong and being afraid to take an L. This includes averaging down. There is generally no trade plan when this happens. "I think nat gas should go up because I feel it should".
2) failing to think about what you can lose and sizing accordingly. Max overnight risk on a triple leveraged index ETF is 15% (limit down open). I size for that possibility.
Kinda like the martingale system at blackjack?
ok, ok...stupid question to ask...but with all this talk about the triple leveraged ETF's and not wanting to ever hold them long term because of decay...what would be the downside of selling naked OTM calls (maybe like a month out) and just collecting premium...and if it goes through your strike, roll up and out to longer dated month further out and just wait for retracement and the decay to set in...rinse and repeat...you're welcome for the terrible leveraged ETF trade strategy 
You want to sell naked 3x leveraged etf calls in a very bullish market?
Only a viable strategy if you can buy the shares before they reach your strike. I know someone who did this with ZM and got toasted.EnronAg said:
ok, ok...stupid question to ask...but with all this talk about the triple leveraged ETF's and not wanting to ever hold them long term because of decay...what would be the downside of selling naked OTM calls (maybe like a month out) and just collecting premium...and if it goes through your strike, roll up and out to longer dated month further out and just wait for retracement and the decay to set in...rinse and repeat...you're welcome for the terrible leveraged ETF trade strategy
You don’t trade for money, you trade for freedom.
This is by far the hardest thing to conquer. I've been in the market for just under 30 years and it's still a battle for me. I too have blown up my account multiple times because of pride. No one likes to admit they were wrong so they stubbornly hold on while riding it all the way down, often times doubling down by buying more shares which usually only makes it more painful. What I learned, and I've learned from each of those costly mistakes, was to maintain discipline. You set your top three technical indicators and follow it. If it flashes buy, then buy or don't. However, when it flashes sell, then sell, don't hold out for 'just a little more' to have your account at a pretty round number. Don't overthink, believe in formula and follow it. This approach has helped me hit the 7/10+ win rate 30K and limit my mistakes. My big losses have occurred because I just knew more than what my eyes were seeing. So the TL;DR version, stick to the rules you believe in an exercise discipline. You'll win more than you lose.bmoochie said:
Taking the L is the hardest thing I continually struggle with. What do you feel like you did that helped change that aspect of trading for you mentally?
Triple leveraged ETF's are legitimately gambling. If you can make it work more times than not, great. But most can't. Yet they keep looking attractive don't they?
It really comes down to the lure of the quick jackpot. The idea that you can take that $5,000 and come away with $25,000. Just do that a couple times and boom! I'm a big money trader now!
Stick to what works. Jackpots can happen. But 99.99% of attempts to hit one end with a complete loss.
It really comes down to the lure of the quick jackpot. The idea that you can take that $5,000 and come away with $25,000. Just do that a couple times and boom! I'm a big money trader now!
Stick to what works. Jackpots can happen. But 99.99% of attempts to hit one end with a complete loss.
"H-A: In return for the flattery, can you reduce the size of your signature? It's the only part of your posts that don't add value. In its' place, just put "I'm an investing savant, and make no apologies for it", as oldarmy1 would do."
- I Bleed Maroon (distracted easily by signatures)
- I Bleed Maroon (distracted easily by signatures)
Yuck on CWH this morning. My cost average is <$10 from selling covered calls repeatedly but was wondering when they would finally have a earnings day. Cut dividend from .625 to .125
Haven't seen this much red in a long time. Can't say that I missed it!
Yall can thank me for the SPY and VTI dips today.
Many sectors red today. Up sectors are consumer staples xlp, utilities xlu, healthcare xlv. This could be the start of a rotation period. These three sectors are historically viewed as defensive. Time will tell.
Charismatic Megafauna
Joined:
May 22, 2017
Posts:
8,034
How long do you want to ignore this user?
AG
Why didn't i buy sedg puts when enph got smoked due to soft us demand, but everybody on twitter said sedg was different? It's never different!
Prayers for you and your wife Farmer.
Don't sweat the past. Prepare for the future. This thing WILL find a bottom. Be ready for it.Charismatic Megafauna said:
Why didn't i buy sedg puts when enph got smoked due to soft us demand, but everybody on twitter said sedg was different? It's never different!
"H-A: In return for the flattery, can you reduce the size of your signature? It's the only part of your posts that don't add value. In its' place, just put "I'm an investing savant, and make no apologies for it", as oldarmy1 would do."
- I Bleed Maroon (distracted easily by signatures)
- I Bleed Maroon (distracted easily by signatures)
Charismatic Megafauna
Joined:
May 22, 2017
Posts:
8,034
How long do you want to ignore this user?
AG
I'm on drill team six right now, jacked to the tits
So what is the chance this is completely choreographed, fitch comes out after close and says they changed their mind, usa is aaa+++ and we resume the moon mission? Because if they don't, jpow is coming at us with the mortal kombat finishing moves...
So what is the chance this is completely choreographed, fitch comes out after close and says they changed their mind, usa is aaa+++ and we resume the moon mission? Because if they don't, jpow is coming at us with the mortal kombat finishing moves...
Watching PG. Amateur here but figured it's at top of this channel and maybe with some "re-balancing" it may benefit.
AMZN gonna halt the dip or nah?
Don't forget about that little piddly squat $3T company reporting too!!
Well said Prog
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
Thank you
I'm researching something right now and will text you 2 stocks that I want you to look at and get your opinion. I will explain why later but if you see what I see then it's a great an opportunity and will share with the board.
I'm researching something right now and will text you 2 stocks that I want you to look at and get your opinion. I will explain why later but if you see what I see then it's a great an opportunity and will share with the board.
https://www.nasdaq.com/articles/australias-syrah-resources-signs-graphite-supply-deals-with-us-firms-0
$WWR signed a binding contract with Syrah for graphite supply. Should see an announcement on a $WWR contract with an end user and financing soon.
$WWR signed a binding contract with Syrah for graphite supply. Should see an announcement on a $WWR contract with an end user and financing soon.
Great stuff Prog
Red Pear Luke (BCS)
Joined:
May 20, 2021
Posts:
2,237
User Profile
Private Message
How long do you want to ignore this user?
Sponsor
AG
10YR UST ILis at 4.15% this morning. Continued pressure on rates is going to hurt all things in levered real estate finance.
Here is a good take from Bill Ackman on the current treasuries.
Here is a good take from Bill Ackman on the current treasuries.
I have been surprised how low US long-term rates have remained in light of structural changes that are likely to lead to higher levels of long-term inflation including de-globalization, higher defense costs, the energy transition, growing entitlements, and the greater bargaining…
— Bill Ackman (@BillAckman) August 3, 2023
WWR related ....
We've commenced our natural #graphite sales diversification strategy by securing US supply agreements with @GraphexGroup & Westwater.
— Syrah Resources (@SyrahResources) August 3, 2023
Further Balama natural graphite commercial supply arrangements are in negotiation.https://t.co/UGKhfNYDco $SYR pic.twitter.com/WtIJWjCQb6
Wow!
$XOM director insider buying big.
— Emini Tic (@TicTocTick) August 3, 2023
Bought almost $50 million dollar of stock around $105. $VDE $OXY
If they're anything like TTD and WAL that you brought up, I'm in. Thanks for sharing those two.ProgN said:
Thank you
I'm researching something right now and will text you 2 stocks that I want you to look at and get your opinion. I will explain why later but if you see what I see then it's a great an opportunity and will share with the board.
I will. I'm pissed I didn't think of this sooner because I was well aware of shortages industry wide.
That said,
Who all in here are in the petroleum industry or electrical industry because I want to pick your brains?
That said,
Who all in here are in the petroleum industry or electrical industry because I want to pick your brains?
ProgN said:
I will. I'm pissed I didn't think of this sooner because I was well aware of shortages industry wide.
That said,
Who all in here are in the petroleum industry or electrical industry because I want to pick your brains?
What part of the petroleum industry you talking?
as I am looking down nearly 3% on the news...???
Premium said:Wayfair up to $41, missed the boat at $33...Slappy007 said:Premium said:Wayfair down another 8% to $33, looking like an attractive entry or is it going to ride down the rest of the year with the entire stock market?Premium said:May have been talked about already today, but Wayfair (W)!... Down 23% to $38 - is this a buy? What happened - why did this run up to $70 and then get cut in half?Premium said:Philip J Fry said:Premium said:txaggieacct85 said:noPremium said:
Wayfair looking like a good pickup, anyone else agree?
Okay, now that we've had fun. Any serious commentary one way or the other?
I think most people think Amazon for online furniture but if you're looking for better quality you end up at Wayfair (online shoppers).
As for the stock, I'm curious at $52 since it recently shore up from high 40's to mid 70's and now back to 52.
I'd wait until it's back in the 30s
Good call so far ($49.06 today), I think if it goes another $6 lower it's worth getting to hold long.
Wayfair is an unprofitable company that will be out of cash in less than a year. Monetary conditions aren't getting better anything soon. There are much better companies to look into imo.
Wayfair up 23% today, to $90!
I'm swamped at the site right now and I don't want to clutter the thread during trading hours. Check back this evening and I'll post the 2 stocks that I'm digging into and the reasons why. That'll be a better time for back and forth.cptthunder said:ProgN said:
I will. I'm pissed I didn't think of this sooner because I was well aware of shortages industry wide.
That said,
Who all in here are in the petroleum industry or electrical industry because I want to pick your brains?
What part of the petroleum industry you talking?
I never understand this stock... It could get bought out for $20 a share and still find a way to go down...planoaggie123 said:
as I am looking down nearly 3% on the news...???