DarterBlue Posted August 8, 2020 Author Report Share Posted August 8, 2020 57 minutes ago, imaGoodBoyNow said: Not sure who Tim Sykes is and I don't have enough interest to look him up. The only thing I would say is this. If he provides free lessons, go for it. However, if he charges money, especially if he charges a lot of it, caveat emptor! It's an old Latin phrase. Look it up before you part with your hard earned cash. I have provided free advice on this board. I have done so because it costs me nothing but a bit of extra time. And, it does provide a small benefit to me. It helps keeps me disciplined and ensures that what I put out there has rigor to it. For, I would look really stupid if I blew up my money in front of a live audience. No, my approach doesn't give you overnight millions. I know of no way to produce that without taking on way too much risk than I ever would (and I suggest you should not either). However, if you can compound your money at 20+% a year, you don't have to have math beyond Algebra 1 to realize that a modest sum can turn to millions with the passage of time. Not a year or two, mind you, but over a 20 year period that is very doable. My goal, when I am trading, (I don't always trade, as they are times I have personal stuff that would detract from it, and times when I don't like the market), is to make somewhere in the region of 20% per year. Now, historically, my returns have been on either side of that threshold. Currently, for this year, I am on track to do significantly better than that (keeping my fingers crossed); but I also know there will be years I don't hit my target. What I do know is that I am a survivor in this game. As a survivor, I have picked up a lot of knowledge over the years both by dint of hard work, and by dint of learning from my mistakes. At the end of the day, I have been successful because: 1. I have put the work in; and 2. I am not a particularly materialistic person. Thus, losses don't sting as much for me as it does for those that worship stuff. Therefore, I am able to always maintain a degree of objectivity about this game, that is essential for consistent success. 1 Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted August 9, 2020 Author Report Share Posted August 9, 2020 Atlassian Stock: So, of the 8 positions I currently hold, the one that is in the worst technical shape is Atlassian, symbol TEAM. Since early May, shortly after announcing blowout quarterly results, the stock, despite registering all-time highs three times, in mid-May, June, and mid-July, has essentially been in a trading range bounded by a low of $167.80 and a high of $194. Yes, the stock has actually bounced off a price in the $164 range and recorded an all-time high of $198.41 during this three month period. However, both of these moves have been outliers. So, the $167.80 to $194 probably better represent the true trading range. As I stated in an earlier post, I am familiar with TEAM's product suite, think it is good, and I also believe that their management has integrity. Thus, I have been content to hold it through this basing period even after its latest earnings disappointed Wall Street. Well, Friday it traded down to $169.36 and closed at $170.93. So, it is very near to the $167.80 bottom of the trading range, line in the sand. Should TEAM trade below that price over the next three trading days and fail to rebound before market close, I will sell the position taking a small loss this time. While I believe in the company's prospects over the next three to five years, I am a trader, not an investor. Given the type of trader I am, I am willing to hold a position through a normal consolidation as this is part of the price I pay for reaping superior gains from my successful trades. However, as a trader, I am unwilling to hold through a full, fledged correction. That is what investors, not traders do. My take is that if TEAM goes through such a correction and emerges from it in bullish fashion, I can always repurchase it at that time. Should I sell TEAM, possible replacements at this time are two stocks and two ETFs. These are: LULU, CHWY, XRT (ETF) and XLI (ETF). Should I go with one of the first two this would reflect my take that "risk on" trades are still the way to go based on market optimism. Should I go with one of the two ETFs, it would reflect a more conservative approach that envisions some lagging sectors catching up to the tech heavy NASDAQ. Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted August 10, 2020 Author Report Share Posted August 10, 2020 Atlassian: TEAM is at or about my uncle point as I type this. Should it go below this level I will either sell it late this afternoon or in the morning if it can't bounce at the open. The reason behind the date flexibility is that if it sinks well below the $167.80 (by at least $2), it is unlikely to regain it in the final half hour of trade. However, if it hovers in that area, allowing it to rest overnight seems reasonable. Bottom line, is if it can't hold where it is now, it must go. Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted August 10, 2020 Report Share Posted August 10, 2020 2 minutes ago, DarterBlue said: Atlassian: TEAM is at or about my uncle point as I type this. Should it go below this level I will either sell it late this afternoon or in the morning if it can't bounce at the open. The reason behind the date flexibility is that if it sinks well below the $167.80 (by at least $2), it is unlikely to regain it in the final half hour of trade. However, if it hovers in that area, allowing it to rest overnight seems reasonable. Bottom line, is if it can't hold where it is now, it must go. Ge is making a nice run today Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted August 10, 2020 Author Report Share Posted August 10, 2020 1 minute ago, HSFBfan said: Ge is making a nice run today It is up 4%. Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted August 10, 2020 Report Share Posted August 10, 2020 Just now, DarterBlue said: It is up 4%. That's good for GE Doesn't usually move like that Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted August 10, 2020 Author Report Share Posted August 10, 2020 2 minutes ago, HSFBfan said: That's good for GE Doesn't usually move like that If it could continue doing that, you would get paid. But you are still a long way off. Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted August 10, 2020 Report Share Posted August 10, 2020 Just now, DarterBlue said: If it could continue doing that, you would get paid. But you are still a long way off. Long way off. It would be nice to get over 7 by the end of the week and go from there For a stock worth 6 bucks you would think its an easier play for big money people Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted August 10, 2020 Author Report Share Posted August 10, 2020 Just now, HSFBfan said: Long way off. It would be nice to get over 7 by the end of the week and go from there For a stock worth 6 bucks you would think its an easier play for big money people Big money people tend to avoid cheap stocks for a variety of reasons. It is the retail crowd (you and me), that tend to speculate in cheap issues. Remember this if nothing else: Most cheap stocks are cheap for a valid reason. The big money crowd understands this. Most retail investors see cheap stocks and think: bargain! Big difference in attitude. Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted August 10, 2020 Report Share Posted August 10, 2020 2 minutes ago, DarterBlue said: Big money people tend to avoid cheap stocks for a variety of reasons. It is the retail crowd (you and me), that tend to speculate in cheap issues. Remember this if nothing else: Most cheap stocks are cheap for a valid reason. The big money crowd understands this. Most retail investors see cheap stocks and think: bargain! Big difference in attitude. True and GE has been crap for a while but im holding on the fact that it was at 13 within the last year so if it gets back to that before January that would be great Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted August 10, 2020 Author Report Share Posted August 10, 2020 3 minutes ago, HSFBfan said: True and GE has been crap for a while but im holding on the fact that it was at 13 within the last year so if it gets back to that before January that would be great Time will tell. The best I can tell you is you have some time on your side. I wish your trade luck. Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted August 10, 2020 Report Share Posted August 10, 2020 1 minute ago, DarterBlue said: Time will tell. The best I can tell you is you have some time on your side. I wish your trade luck. I'm hoping it gets close to 7 today Quote Link to comment Share on other sites More sharing options...
imaGoodBoyNow Posted August 10, 2020 Report Share Posted August 10, 2020 8 minutes ago, DarterBlue said: Big money people tend to avoid cheap stocks for a variety of reasons. It is the retail crowd (you and me), that tend to speculate in cheap issues. Remember this if nothing else: Most cheap stocks are cheap for a valid reason. The big money crowd understands this. Most retail investors see cheap stocks and think: bargain! Big difference in attitude. I’m mostly in pharmaceuticals penny stocks if I decide to day trade and swing trade penny stocks, every time trump mentions one of these pharma stocks they shootup to moon and get heavily overbought Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted August 10, 2020 Author Report Share Posted August 10, 2020 1 minute ago, imaGoodBoyNow said: I’m mostly in pharmaceuticals penny stocks if I decide to day trade and swing trade penny stocks, every time trump mentions one of these pharma stocks they shootup to moon and get heavily overbought I can't help you. Your style is not my style. IF you end up successful, more power to you! 30.5 years of experience tell me that is unlikely. But every so often, strange things happen. Good luck with your trading! Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted August 10, 2020 Author Report Share Posted August 10, 2020 Atlassian: I have seen enough. I am going to sell it now. I will post my final results on it later. Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted August 10, 2020 Author Report Share Posted August 10, 2020 Atlassian: I just sold 279 shares at prices in the low $165 range. Net proceeds were $46,067.94. Cost basis was $47,744.50 Net loss on the trade was $1,676.56 for a loss of about 3.5%. Not the way I would have liked, but you will note I stuck to my discipline. Sticking to one's discipline is one of the hardest, but most important things to do if you want to be a successful trader. Never rationalize: if you seem to be wrong, take the loss, stand aside and regroup. You will have most of your capital and can find other, better trades. Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted August 10, 2020 Report Share Posted August 10, 2020 15 minutes ago, DarterBlue said: Atlassian: I just sold 279 shares at prices in the low $165 range. Net proceeds were $46,067.94. Cost basis was $47,744.50 Net loss on the trade was $1,676.56 for a loss of about 3.5%. Not the way I would have liked, but you will note I stuck to my discipline. Sticking to one's discipline is one of the hardest, but most important things to do if you want to be a successful trader. Never rationalize: if you seem to be wrong, take the loss, stand aside and regroup. You will have most of your capital and can find other, better trades. Ge option for January 2021 is up 23% Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted August 10, 2020 Author Report Share Posted August 10, 2020 32 minutes ago, HSFBfan said: Ge option for January 2021 is up 23% That is good. But don't focus on how much you are up or down. This is not a horse race; it is serious business if you want to be a winner. To be a winner, you have to focus on how YOUR POSITIONS, primarily, and the overall MARKET, secondarily, are performing. Not on how much you made, but are your stocks acting healthily and is the market in bullish mode? If you focus on how much money you are making or losing, you will be an emotional wreck and this game will eat you up. Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted August 10, 2020 Report Share Posted August 10, 2020 Just now, DarterBlue said: That is good. But don't focus on how much you are up or down. This is not a horse race; it is serious business if you want to be a winner. To be a winner, you have to focus on how YOUR POSITIONS, primarily, and the overall MARKET, secondarily, are performing. Not on how much you made, but are your stock acting healthily and is the market in bullish mode? If you focus on how much money you are making or losing, you will be an emotional wreck and this game will eat you up. well i guess that's my problem. Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted August 10, 2020 Author Report Share Posted August 10, 2020 26 minutes ago, HSFBfan said: well i guess that's my problem. To recognize a problem is the first step to fixing it. Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted August 10, 2020 Report Share Posted August 10, 2020 Just now, DarterBlue said: To recognize a problem is the first step to fixing it. I always said I don't know enough so the only metric I can go on is how much I make or loss My brother KGC option is falling off a cliff Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted August 10, 2020 Author Report Share Posted August 10, 2020 10 minutes ago, HSFBfan said: I always said I don't know enough so the only metric I can go on is how much I make or loss My brother KGC option is falling off a cliff His option, if January 2021 will be fine. Gold is making a needed and necessary pullback. It's run is not finished. I am 90% sure of that. Markets and stocks seldom go straight up or down. Rather, they stair step on the way up and down as investors and traders take profits/losses. However, what supports a trend is that institutions will step in and buy in bull markets or sell in bear markets. Until gold breaks major support (which it is far from doing), it is in an uptrend! Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted August 10, 2020 Report Share Posted August 10, 2020 2 minutes ago, DarterBlue said: His option, if January 2021 will be fine. Gold is making a needed and necessary pullback. It's run is not finished. I am 90% sure of that. Markets and stocks seldom go straight up or down. Rather, they stair step on the way up and down as investors and traders take profits/losses. However, what supports a trend is that institutions will step in and buy in bull markets or sell in bear markets. Until gold breaks major support (which it is far from doing), it is in an uptrend! It is a January 2021 option Very good Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted August 10, 2020 Report Share Posted August 10, 2020 @DarterBlue I just bought american airlines if I can be patient enough ill hold onto for it years Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted August 10, 2020 Author Report Share Posted August 10, 2020 14 minutes ago, HSFBfan said: @DarterBlue I just bought american airlines if I can be patient enough ill hold onto for it years You don't strike me as an investor, but more of a trader. Provided AAL does not go bankrupt (it's possible without government support that all the airlines could), then it is a good long term investment. But it could easily take two or more years to show a profit and maybe five to make significant money. Are you able to wait that long? I know I could not, I am too impatient. But if you can you have a decent chance of making good money on it. Quote Link to comment Share on other sites More sharing options...
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