DarterBlue Posted July 17, 2020 Author Report Share Posted July 17, 2020 Just now, HSFBfan said: But I understand that the bet i put in made the most amount of logical sense. If i get beat by a horse that I believe had no business winning at least i can tell the jockey to fuck off lol When I bet on a stock, it follows the same principle. Based on my system it makes the most logical sense to use your statement above. So, there is really no difference if you have a good system in either endeavor. The reason I prefer stocks is based on the house cut which I find way too high in horse racing. Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted July 17, 2020 Report Share Posted July 17, 2020 2 minutes ago, DarterBlue said: When I bet on a stock, it follows the same principle. Based on my system it makes the most logical sense to use your statement above. So, there is really no difference if you have a good system in either endeavor. The reason I prefer stocks is based on the house cut which I find way too high in horse racing. It is crazy high. I agree there. I guess because I've been betting on the horses for so long I understand many aspects to it and I accept the flaws in it This was my first real test into the market and I guess with limited knowledge I just didn't enjoy it 1 Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted July 17, 2020 Author Report Share Posted July 17, 2020 9 minutes ago, HSFBfan said: It is crazy high. I agree there. I guess because I've been betting on the horses for so long I understand many aspects to it and I accept the flaws in it This was my first real test into the market and I guess with limited knowledge I just didn't enjoy it Before I bought my first stock back in 1990, I spent at least 40 hours at the library at 455 Fifth Avenue. Before I was going to put my money on the line, I wanted to be sure I was comfortable with the basics. That is the way I have always approached life. If I am going to get scammed, you have to be a very, very good con. Just saying ... Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted July 17, 2020 Report Share Posted July 17, 2020 Just now, DarterBlue said: Before I bought my first stock back in 1990, I spent at least 40 hours at the library at 455 Fifth Avenue. Before I was going to put my money on the line, I wanted to be sure I was comfortable with the basics. That is the way I have always approached life. If I am going to get scammed, you have to be a very, very good con. Just saying ... I agree with you. You better do ur homework before financially jumping into anything. You could be financially ruined I know our congress is going after RH after that kid killed himself Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted July 17, 2020 Author Report Share Posted July 17, 2020 Stocks closed mostly higher as only the DOW was down today. Volume was higher as today was third Friday, which is a major options expiration day. At the close, the range was from a loss of .23% on the DOW to a gain of .44% on the MID Cap index. Today, advancing stocks led by margins of 16-13 on the NYSE and 20-13 on the NASDAQ. On the week, the averages closed mixed with the DOW up over 2.3%, while the S&P gained 1.3% while the NASDAQ lost just over a 1%. The day was the quietest in several weeks. That, is constructive. However, the S&P, as well as the other major indices, has yet to join the NASDAQ indices in making a decisive push to the upside. As we enter the weekend, I am still bullish in mid-July, though slightly less so than at the week’s beginning. Today, I was up $2,038 or .36% slightly out-legging most of the market. While I was up three of the five days this week, I ended the week with substantial losses, my greatest since this bull leg began of $12,060, or just over 2% on the week. These losses were spurred by the hi-flying technology stocks I own which were brought back to earth to a degree. These were offset by gains scored in the S&P Options, the MDY and LCII and LOW. Today, most of my positions ended in the black. TEAM, LOW, SHOP, TTD, MDY and the S&P Options all recorded modest gains. On the other side of the ledger, LCII and ZM recorded modest losses. The final FRO option I owned, which I was unable to cover expired worthless for a grand loss of $65 on the contract. While it was not great week for me, I avoided destruction, and my positions are all still hanging in there. Quote Link to comment Share on other sites More sharing options...
imaGoodBoyNow Posted July 17, 2020 Report Share Posted July 17, 2020 I was going to buy some NKLA it hit $38 as we speak, but I’m just not confident so unfortunately ima pass Quote Link to comment Share on other sites More sharing options...
CardinalTruth Posted July 17, 2020 Report Share Posted July 17, 2020 I day trade, very seldom do I hold on long. I just read reports and news. Buy from a range of 100 bucks to 1000 of a certain share. Once I double my money I sell. Very rare I lose money, but the way I trade I can also lose out on big money. I’ll give an example of how I lost out on a huge payday. I look at it now like damn, I missed out, but then again at the time I doubled my money and didn’t lose anything. I can live with that. I hate more losing then I like winning. Overtime I see patterns and what I missed out on, so I’ll gamble with bigger share purchases, but as soon as I double my money, I’m out lol. I missed out on this gem in January. All reports I read and a little study I knew I could turn 100 bucks into 200 easy. Just didn’t realize how big this stock would take off... Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted July 17, 2020 Author Report Share Posted July 17, 2020 2 hours ago, imaGoodBoyNow said: I was going to buy some NKLA it hit $38 as we speak, but I’m just not confident so unfortunately ima pass This is so dumb. It's doing what it was going to have to do: Issue shares to fund further research and, hopefully, production. But idiots ran the price up to almost $100 as if all the work was already funded. When the stock cratered on the day I got out, it was probably in anticipation of this now announced secondary. Well, an analyst upgraded the stock the day after and raced it back into the $50s as a second round of idiots piled in. And now they are getting screwed just as I did. For the record, NKLA could be a big winner one day. But public investors should not be playing the role of Venture Capitalists. I am not going to say you should buy it or not. But if you do, first be aware that even at $38 it ain't cheap, and that if the venture fails it could easily eventually go to zero. Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted July 17, 2020 Author Report Share Posted July 17, 2020 43 minutes ago, CardinalTruth said: I day trade, very seldom do I hold on long. I just read reports and news. Buy from a range of 100 bucks to 1000 of a certain share. Once I double my money I sell. Very rare I lose money, but the way I trade I can also lose out on big money. I’ll give an example of how I lost out on a huge payday. I look at it now like damn, I missed out, but then again at the time I doubled my money and didn’t lose anything. I can live with that. I hate more losing then I like winning. Overtime I see patterns and what I missed out on, so I’ll gamble with bigger share purchases, but as soon as I double my money, I’m out lol. I missed out on this gem in January. All reports I read and a little study I knew I could turn 100 bucks into 200 easy. Just didn’t realize how big this stock would take off... Unless you are trading options or futures or very speculative penny stocks I am not sure how you can consistently get a double, day trading. Yes, once or twice in a year you may luck into a situation, but in general, a day or less is just not enough holding time to get returns of that magnitude. Please elaborate on how you are able to do this. Inquiring minds want to know. Quote Link to comment Share on other sites More sharing options...
CardinalTruth Posted July 17, 2020 Report Share Posted July 17, 2020 8 minutes ago, DarterBlue said: Unless you are trading options or futures or very speculative penny stocks I am not sure how you can consistently get a double, day trading. Yes, once or twice in a year you may luck into a situation, but in general, a day or less is just not enough holding time to get returns of that magnitude. Please elaborate on how you are able to do this. Inquiring minds want to know. I suppose I shouldn’t of said day trading. 50% of the time I will buy and sell within a day or 2. 45% of the time I will buy and sell within a 7-10 day period. 5% of the time I will hold on stock that got rocked with the virus. It’s one of those conversations that is hard to type, rather your next to me in person and I show you the screen shots and notes I take on how I do it. I’ll try to explain more when I have more time Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted July 17, 2020 Report Share Posted July 17, 2020 https://m.jpost.com/breaking-news/us-passenger-flights-to-india-can-resume-july-23-us-transportation-dept-635450 Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted July 18, 2020 Author Report Share Posted July 18, 2020 4 minutes ago, CardinalTruth said: I suppose I shouldn’t of said day trading. 50% of the time I will buy and sell within a day or 2. 45% of the time I will buy and sell within a 7-10 day period. 5% of the time I will hold on stock that got rocked with the virus. It’s one of those conversations that is hard to type, rather your next to me in person and I show you the screen shots and notes I take on how I do it. I’ll try to explain more when I have more time Then it sounds like you are more of a swing trader than a day trader, at least with respect to your holding time. So, I am curious, for the 5% where you hold the position longer than 10 days, is this because you don't want to take a loss? I understand that losing hurts more than winning lifts the spirits. It is that way for more than 90% of humans. That is why most are risk averse. However, if you are to generate long term success playing this game, you need to learn that losses are a part of it. When I buy, it is with specific expectations in mind. For the positions that go contrary to those expectations, I get rid of them quickly. The theory is, the first loss is the best loss. For those that do what I expect, I monitor their progress carefully, daily and as long as they are acting well technically, I hold them unless one of two things happens: 1. The overall market gets into trouble. More than 80% of all stocks follow a bad market down. So, if the market shows clear signs of going south, I sell my longs and am either in cash or I buy puts. 2. If the stock goes perpendicular into blowoff top mode, I will sell on the way up as such moves are unsustainable. I can always repurchase it if it then makes a clean basing pattern off a perpendicular move. To me, this game is all about discipline and understanding and assessing probabilities. If you are disciplined and grasp probability, then you can develop an edge. To make money over the long haul you have to have an edge. An edge can be gained in many different ways. There is no holy grail to this. The key is to know yourself and your personality well and to craft your edge around it. Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted July 18, 2020 Report Share Posted July 18, 2020 https://www.bloomberg.com/amp/opinion/articles/2020-07-17/the-fed-is-setting-the-stage-for-a-major-policy-change Quote Link to comment Share on other sites More sharing options...
imaGoodBoyNow Posted July 18, 2020 Report Share Posted July 18, 2020 11 hours ago, DarterBlue said: Then it sounds like you are more of a swing trader than a day trader, at least with respect to your holding time. So, I am curious, for the 5% where you hold the position longer than 10 days, is this because you don't want to take a loss? I understand that losing hurts more than winning lifts the spirits. It is that way for more than 90% of humans. That is why most are risk averse. However, if you are to generate long term success playing this game, you need to learn that losses are a part of it. When I buy, it is with specific expectations in mind. For the positions that go contrary to those expectations, I get rid of them quickly. The theory is, the first loss is the best loss. For those that do what I expect, I monitor their progress carefully, daily and as long as they are acting well technically, I hold them unless one of two things happens: 1. The overall market gets into trouble. More than 80% of all stocks follow a bad market down. So, if the market shows clear signs of going south, I sell my longs and am either in cash or I buy puts. 2. If the stock goes perpendicular into blowoff top mode, I will sell on the way up as such moves are unsustainable. I can always repurchase it if it then makes a clean basing pattern off a perpendicular move. To me, this game is all about discipline and understanding and assessing probabilities. If you are disciplined and grasp probability, then you can develop an edge. To make money over the long haul you have to have an edge. An edge can be gained in many different ways. There is no holy grail to this. The key is to know yourself and your personality well and to craft your edge around it. Hey @DarterBlue do you do that stop loss thing, where if the stock dips to much your account automatically Executes the sell of the stock Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted July 18, 2020 Author Report Share Posted July 18, 2020 8 minutes ago, HSFBfan said: https://www.bloomberg.com/amp/opinion/articles/2020-07-17/the-fed-is-setting-the-stage-for-a-major-policy-change If they pursue what the article implies they will, it will be a disaster as interest rates will take off on their own long before the Fed starts to raise them. If inflation gets out of hand, it will have a real problem on its hands as it will not be able to effectively support the stock market with easy money. Sometime I wonder where these morons were educated. Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted July 18, 2020 Author Report Share Posted July 18, 2020 5 minutes ago, imaGoodBoyNow said: Hey @DarterBlue do you do that stop loss thing, where if the stock dips to much your account automatically Executes the sell of the stock I used to. I now keep my loss point in my head and sell at market if it gets tripped. The issue I have with placing a physical stop is that professionals have access to where you place it. Thus, they are in a position to drive prices to where the most stops are triggering a selloff that they can take advantage of, essentially getting stock on the cheap from those that placed the stops. Now if you work for a living and can't always monitor the market throughout the day, it may make sense to place the physical stop to keep you protected from a sharp drop in price. Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted July 18, 2020 Report Share Posted July 18, 2020 23 minutes ago, DarterBlue said: If they pursue what the article implies they will, it will be a disaster as interest rates will take off on their own long before the Fed starts to raise them. If inflation gets out of hand, it will have a real problem on its hands as it will not be able to effectively support the stock market with easy money. Sometime I wonder where these morons were educated. Jerome powell was educated at Princeton University and Georgetown law Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted July 18, 2020 Author Report Share Posted July 18, 2020 15 minutes ago, HSFBfan said: Jerome powell was educated at Princeton University and Georgetown law And he has little to show for it. He is still a friking moron in my estimation. He temporarily halted the bear market in March, but has set the stage for a much bigger crash later on. I just don't get it. America's best and brightest are proving themselves to be mediocre at best. Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted July 18, 2020 Report Share Posted July 18, 2020 Just now, DarterBlue said: And he has little to show for it. He is still a friking moron in my estimation. He temporarily halted the bear market in March, but has set the stage for a much bigger crash later on. I just don't get it. America's best and brightest are proving themselves to be mediocre at best. It's an election year. Gotta hold up the economy Like i said yesterday everyone keeps talking about the bubble bursting and the market is one big bubble but every report comes out shows good numbers so ita very conflicting Also interest rates below 3% for the first time ever. Houses flying off the market. Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted July 18, 2020 Report Share Posted July 18, 2020 https://investorplace.com/2020/07/4-top-stock-trades-for-monday-amzn-penn-nio-nvax/amp/ Quote Link to comment Share on other sites More sharing options...
imaGoodBoyNow Posted July 18, 2020 Report Share Posted July 18, 2020 13 hours ago, CardinalTruth said: I suppose I shouldn’t of said day trading. 50% of the time I will buy and sell within a day or 2. 45% of the time I will buy and sell within a 7-10 day period. 5% of the time I will hold on stock that got rocked with the virus. It’s one of those conversations that is hard to type, rather your next to me in person and I show you the screen shots and notes I take on how I do it. I’ll try to explain more when I have more time I’m %60 investor and 40% intraday Scalper , @DarterBlue did I say that right? My new thing is not wait for home run but to get out as quick as possible with profit and move on to the next play Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted July 18, 2020 Author Report Share Posted July 18, 2020 6 minutes ago, imaGoodBoyNow said: I’m %60 investor and 40% intraday Scalper , @DarterBlue did I say that right? My new thing is not wait for home run but to get out as quick as possible with profit and move on to the next play It is difficult to do that if you have a day job. If you work nights, that can work effectively if you have the energy. The other way to do that effectively is to make trading your full time job. The thing about scalping effectively, is that you need to be plugged in all the time. Given what I did for a living (my day job) there was no way for me to do that. I would have gotten fired for not doing an effective job. If you are going to be 60/40, I suggest setting up separate accounts for investing and trading and never blend the two. That way, you can see in real time, which is working and which is not, or at least which is working better. That may further clarify what you should be doing over the long haul. Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted July 18, 2020 Author Report Share Posted July 18, 2020 Perhaps true? Hard to believe, but his story sounds plausible to me. I could never take on the level of risk he did; it's just not in me to do that. However, his story rings true in the sense that he clearly had a method, seems to have stuck with it, and reaped the rewards. https://www.marketwatch.com/story/he-had-35000-in-retirement-savings-in-march-350-trades-later-and-hes-apparently-sitting-on-1-million-2020-07-08?siteid=bigcharts&dist=bigcharts Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted July 19, 2020 Report Share Posted July 19, 2020 https://www.businessinsider.com/stock-market-crash-expert-warns-of-great-depression-era-valuations-2020-7 Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted July 19, 2020 Report Share Posted July 19, 2020 https://www.fool.com/amp/investing/2020/07/17/cdc-extends-cruise-line-no-sail-order-through-sept.aspx Quote Link to comment Share on other sites More sharing options...
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