El_duderino said:

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It missed on both I thought. Not sure on guidance though

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BaylorSpineGuy said:

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Not terribly surprised TSLA is rallying. Horribly oversold. Also doubt it's a long term bottom.

I'm of the opinion that it bottoms when Cathie Wood gives up. Every stock she capitulates on eventually rallies hard. Will wait patiently. If this was the bottom, so be it.

We haven't even hit a recession yet.

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BaylorSpineGuy said:

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I almost nibbled at 122 but never did. Didn't see your follow up post. Anyway….shame on me. It's up massively in that time.

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Quote:

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I broke my own rule and added on a position I'm down on

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EliteZags said:

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Quote:

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I broke my own rule and added on a position I'm down on

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weird rule

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EliteZags said:

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I'd be at 4 figure loss on PLTR instead of 6 figure gain

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BaylorSpineGuy said:

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EliteZags said:

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I'd be at 4 figure loss on PLTR instead of 6 figure gain

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To be fair, that stock showed a reversal and has made a series of higher highs. Adding to SNOW where I did, it had made lower highs and lows. Certainly not a risk free strategy.

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BaylorSpineGuy said:

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People have averaged down on WWR for a long ways. It's 40 cents now.

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ProgN said:

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spud1910 said:

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ProgN said:

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McInnis 03 said:

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That would be the @Texags stock forum.

😂 https://t.co/l6gp2Z0EB3

— Charles F11 (@charlesf11) April 23, 2024

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Ok fam, we'll need a secret handshake for OGs if invaded by Twits because our secret is out.

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We are the only ones who know how many McInnis is.

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I'd be willing to be that he doesn't even know.

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GreasenUSA said:

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ProgN said:

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GreasenUSA said:

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EliteZags said:

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Quote:

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I broke my own rule and added on a position I'm down on

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weird rule

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It's actually one of the most basic rules traders should learn early on. If they don't, their career will be very short.
Averaging can work out 9 times out of 10, but that 10th time will likely wipe out all other gains.

Note: I'm not talking about long term investing in index funds or retirement accounts.

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I'm going to offer a different perspective based on experience and not directed towards you but something to consider and will benefit everyone.

The mistake that people make whether trading or LT investing is lumping all stocks into the same category. What if you (everyone here) did that with NVDA 2 years ago when it was crushed? The same with NFLX a couple of years ago when it was crushed and went from $700 to below $200 in under 6 months? You have to evaluate each company separately. Are they still profitable, adding customers, market leaders in their industry, fund favorites, etc. or is their business based on what ifs (WWR)?

I've already posted I bought into the hype of WWR with 2000 shrs @$6, but I've never bought more. I believed in someone that was high on GOCO and I luckily cut my loss WAY higher than riding that turd down the toilet and never thought to average down. I pray SAVA's drug is proven to help Alzheimer's patients because I've experienced that insidious disease personally and the toll it takes on a family, but I've never bought more. Those type of company's future is based on hope and a maybe. SNOW is not one of those and I suspect they intentionally setup the stock for this first earnings report with the new CEO at the helm. No one can prove it, but I've seen companies do similar things. We'll find out very soon.

Tl;dr: Evaluate each stock on it's own merits. The market is fluid, so you can't be rigid or you'll miss opportunities to capitalize on others mistakes.

JMO

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Agree with all that.

Just trying to specify with regard to day trading and even most swing trading. It was something I had to overcome years ago to get to today where trading is my primary source of income.

ETA: The poster called it a "weird rule", and from my point of view, it's a vital rule. But it's easy to forget that everyone posting here has different objectives for trading, including time frames. I considered this to be a day trading thread at its heart, but at this point, longer time frames seem to be a more often discussed topic.

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GreasenUSA said:

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ProgN said:

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I make an occasional day trade here and there if I see a ripe setup, but I'm a momentum trader at my core so my timeframes differ. I don't post my day trades because I'm hyper aggressive and those will usually be in options. If I lose on the trade I just call myself a dumbass, but I don't want to be the reason anyone here blows up their account because they put too much trust in me. Honestly, I'd feel their pain and I'm just too old for that *****

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Yep, I see you posting that sentiment a lot.

I have a very systematic approach that I need to eventually code as much as possible. It's boring, and not compatible with posting trades here. I try to help out around the edges when I can on this thread. So that tends to be whenever I can provide any psychological-type insight, usually.

ETA: You have to cut wrong trades. No one GAF about your pride, so take the little "L" before you really hurt your account.

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ProgN said:

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GreasenUSA said:

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EliteZags said:

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Quote:

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I broke my own rule and added on a position I'm down on

---

weird rule

---

It's actually one of the most basic rules traders should learn early on. If they don't, their career will be very short.
Averaging can work out 9 times out of 10, but that 10th time will likely wipe out all other gains.

Note: I'm not talking about long term investing in index funds or retirement accounts.

---

I'm going to offer a different perspective based on experience and not directed towards you but something to consider and will benefit everyone.

The mistake that people make whether trading or LT investing is lumping all stocks into the same category. What if you (everyone here) did that with NVDA 2 years ago when it was crushed? The same with NFLX a couple of years ago when it was crushed and went from $700 to below $200 in under 6 months? You have to evaluate each company separately. Are they still profitable, adding customers, market leaders in their industry, fund favorites, etc. or is their business based on what ifs (WWR)?

I've already posted I bought into the hype of WWR with 2000 shrs @$6, but I've never bought more. I believed in someone that was high on GOCO and I luckily cut my loss WAY higher than riding that turd down the toilet and never thought to average down. I pray SAVA's drug is proven to help Alzheimer's patients because I've experienced that insidious disease personally and the toll it takes on a family, but I've never bought more. Those type of company's future is based on hope and a maybe. SNOW is not one of those and I suspect they intentionally setup the stock for this first earnings report with the new CEO at the helm. No one can prove it, but I've seen companies do similar things. We'll find out very soon.

Tl;dr: Evaluate each stock on it's own merits. The market is fluid, so you can't be rigid or you'll miss opportunities to capitalize on others mistakes.

JMO

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Heineken-Ashi said:

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And I hope you got out of PLTR sometime over the last month

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