Blazin
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dammit AND it's my fault! Apologies if I missed the question, when the market is moving I may miss questions at times.NoWhen you didn't answer my question on the reasoning for your buy I chickened out.
Investing General Discussion
- Thread starter Furious
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Lol, I didn't mean it like that. When I looked at the chart for it the moving averages were still below the price unlike when you recommended it before (iirc), so I couldn't figure out why you were bucking the usual trend of buying at or near support levels.
I'll just chalk it up to more evidence that I shouldn't second guess you on stonk plays
Blazin
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You're correct, I view it as a continuation of the original hold. All I did was gain alpha on it. When that's the case I don't follow the same rules on entries. Gained 8-9% alpha on it by selling the overbought and jumping on the pullback. It's in my LT hold category but I do occasionally do a quick in and out either because of having them called away or I see a short term opportunity. Did something very similar with MRK and ABBV positions. It can be kind of dangerous because sometimes they just keep going and leave you behind. That has happened to me on DIS and MSFT last year. DIS now I'm less upset about as it has come all the way back down well below where I let it go before the run.Lol, I didn't mean it like that. When I looked at the chart for it the moving averages were still below the price unlike when you recommended it before (iirc), so I couldn't figure out why you were bucking the usual trend of buying at or near support levels.
I'll just chalk it up to more evidence that I shouldn't second guess you on stonk plays
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Sanrith Descartes
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Stops are indeed tricky. They are easily manipulated by the market players. If you set a suoee tight stop you basically just guarantee getting stopped out and if you set it too loose you end up losing lots of profit. It is one reason I prefer to sell on an upswing rather than wait for a stop on a downswing. I honestly see stops really being most valuable to day traders and shorts.No
I totally misplayed NUE as well. Rather than selling at ~105 like I should have, I got stopped out at ~97 for a loss and then bought a few more shares back at like ~95, then again today at 92.70 Playing with stop losses is new to me, and I'm learning that if you think there's a downturn coming you're better off just selling at that higher price you're currently at rather than waiting for the stop loss to kick in. IE: taking profit actively vs passively waiting for things to drop. Ah well. I mean, it's not huge money we're talking about here, but still.
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Sanrith Descartes
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Yeah, I think you're right. It's tricky, because so much of the advice I read is geared towards short term/day traders and very little of it is geared toward longer term people that doesn't amount to "Stonks always go up, just buy and hodl, noob!" Well, buying last June and hodling is currently worth the same I paid, actually less due to inflation of money. Not to mention the risk involved that it could have all crashed to nothing, and moves down 5% are then followed by moves up of .5% a lot of the time.
So I appreciate it when I see advice like this, thanks
LachiusTZ
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As soon as its truly too late to fix anything. Thats when. Lol
I got you calling him Janet
I no shit googled him last week to check.
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Fogel
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Futures have been useless in both directions with this chop
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Borzak
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swayze22
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Asshat wormie
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Sanrith Descartes
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Sanrith Descartes
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I hear you. So while I don't day trade, I do swing trade and this is where I use stops on occasion. Find a quality stock you "wouldn't mind owning" but isn't on your marrying list. Like the girl at the bar at 2am. If it gets oversold I will grab it with the intention of flipping it hopefully in a month or two.Yeah, I think you're right. It's tricky, because so much of the advice I read is geared towards short term/day traders and very little of it is geared toward longer term people that doesn't amount to "Stonks always go up, just buy and hodl, noob!" Well, buying last June and hodling is currently worth the same I paid, actually less due to inflation of money. Not to mention the risk involved that it could have all crashed to nothing, and moves down 5% are then followed by moves up of .5% a lot of the time.
So I appreciate it when I see advice like this, thanks
Once it hits 10%+ I start considering a stop to lock in those gains. For me something like INTC or a good industrial stock. Those stocks only average about 10-15% a year in appreciation. So if I get it oversold and it climbs back 15% in 3 months I figure that is normally a years worth of gains. So I start looking for an exit and use the cash for another flip. I just did it with CAT. About 15% in 4 months. That is 45% annualized.
Those are the types of trades I will use a stop on to lock in that gain and maybe add a little bit extra.
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Sanrith Descartes
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What's fucked up is I can tell what futures are doing just by looking at BTC. What a great hedge.
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Zog
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Another weird day waiting on earnings after the bell... The pattern seems to be optimism through the day, leading to gains that will either be completely wrecked by earnings or unless apple posts blowout earnings which numerous people have pointed to is in doubt for q4... I think it'll be another excuse for people to sell.
Meeting expectations is bearish at this point but who knows.
Meeting expectations is bearish at this point but who knows.
Sanrith Descartes
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