Investing General Discussion

Sanrith Descartes said:

I just gave it a shot.

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Make sure you sign up for email updates. Because he'll say buy something, and if you don't get the update, you look and its up 5% or more and you missed it.

Sanrith Descartes said:

Sold out of my COIN at $259. Small 3.5% profit. I think $260-ish is the ceiling until it proves otherwise.

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I'm not selling my COIN, that's something I'll look at selling in a year.

Made $744 today trading AMD, in 50 minutes. Attached are the trade logs. Every trade was perfect, so I'm going to stop here. I usually find a way to get stopped out of my final trade and lose a few hundred, so I'll just stop here.

I traded about $70,000 per trade. Still working up to six figure trades. I have the money, I just don't trust the guy I see in the mirror. Still learning how to take an acceptable loss.

This isn't for everyone, and 96% of the people doing it earn minimum wage. So I'm going to stop here, and start studying. Trade less and study more, is what they say in the beginning. Been doing it full time since February, and I don't think I'll consider myself seasoned until Jan or Feb.

Sanrith Descartes said:

With how it tracks BTC (even though it shouldn't track it like it does), I see enough volatility in pricing that My plan is to grab more on the next major downturn. I see $210 happening again before I see $300 happening again. I have enough data now to feel its better to get out green now and work back in lower.

or I am totally wrong

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I should be trading it, but I'll just hold it and let it go up with bitcoin adoption. I do expect margins will decrease with new competition, but they can still diversify services.

I'm out. I did have some pretty bad mistakes this week and need to review those. I was sick on Monday, first four trades were garbage. And yesterday, I macroed at the open and got burnt. That's pretty high risk, at least for me at my current skill level. I lost about $1,200 on two trades this week that shouldn't have been opened.

Shonuff with the amount of money you have, have you thought about getting into options?

Back from my month+ of vacation. Seems I came back to typical august low volume chop.

Only plays I see are long term trades on the beaten up travel sector. Possibly an oversold paranoia about the delta variant.

I had picked up some DAL / NCLH / CCL over the rough last week(s) for the retirement account.

Shonuff nice to see another day trader here. I primarily swing trade, but daily dabble in day trades. I will shift back to day trades more when the summer trading lull wears off.

Joking aside I've done better with options than day/swing trading. With options you have the expiration date which forces you to take your profits

Fogel said:

Shonuff with the amount of money you have, have you thought about getting into options?

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Maybe some day. There is a stat going around that only 12% of calls make money. That number realistic?

Shonuff said:

Maybe some day. There is a stat going around that only 12% of calls make money. That number realistic?

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I don't know about that, but myself, Blazin and Sanrith mostly sell puts. You're basically getting payed to buy stock you would have bought anyway when you sell puts.

Fogel said:

I don't know about that, but myself, Blazin and Sanrith mostly sell puts. You're basically getting payed to buy stock you would have bought anyway when you sell puts.

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Right. If I did do options, it would be puts.

Sanrith Descartes said:

Translation: Now that you have tried the gateway drug of day trading, let me introduce you to crack. Its fun.

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I can't let this be any sort of emotion or need. I just have to hit the arrow at the target, and make the best shot I can.

I'm just learning how to calm down.

Jysin said:

Back from my month+ of vacation. Seems I came back to typical august low volume chop.

Only plays I see are long term trades on the beaten up travel sector. Possibly an oversold paranoia about the delta variant.

I had picked up some DAL / NCLH / CCL over the rough last week(s) for the retirement account.

Shonuff nice to see another day trader here. I primarily swing trade, but daily dabble in day trades. I will shift back to day trades more when the summer trading lull wears off.

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Travel sector is a play I'm tempted to do, but I'm already in ABNB, Mar, Wynn, BA, WH and DAL. But yeah, I thought about the JETS ETF earlier this week, just never got around to it. Delta presents some opportunity, if you make the bet right. I think if you see any big selloff due to delta, that would be the time.