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onenickelmiracle
onenickelmiracle
Joined: Jan 26, 2012
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March 14th, 2020 at 12:47:46 AM permalink
I slept through the whole thing, just didn't care to get up. When I did, it was immediately too late to get out for a better profit. I bought some junk called SELB yesterday, sold it and the money still isn't available in my account. Wtf with that? I placed a limit order, the stock kept rising afterward and I still can't re-invest my money. Gambling, or knowing about gambling really is some education, you know there is a lot of bs out there, like limited sample sizes, confirmation bias. I'm really interested in beating the market, it has to be possible, but I need to learn some fundamentals and the tools available. It's not like I didn't watch CNBC for years, soI'm not that ignorant. I feel like I'm going to be vulnerable to holding onto a loser and cutting a winner short. I'm up $200 plus in 3 days, guess it's better than nothing. Can I dare sleep with money in BTC? It's the only thing you can mess with late at night, I know it's gambling there. Cheap for now, likely to be burned at some point. I certainly don't want to be long term in it. I will not be day trading, cannot sit and stare at the screen all day constantly checking.
Last edited by: onenickelmiracle on Mar 14, 2020
In the land of the blind, the man with one eye is the care taker. Hold my beer.
darkoz
darkoz
Joined: Dec 22, 2009
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onenickelmiracle
March 14th, 2020 at 5:59:13 AM permalink
Quote: onenickelmiracle

...cannot sit and stare at the screen all day constantly checking.



You do it with WOV
For Whom the bus tolls; The bus tolls for thee
unJon
unJon
Joined: Jul 1, 2018
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onenickelmiracle
March 14th, 2020 at 7:02:29 AM permalink
Quote: onenickelmiracle

I slept through the whole thing, just didn't care to get up. When I did, it was immediately too late to get out for a better profit. I bought some junk called SELB yesterday, sold it and the money still isn't available in my account. Wtf with that? I placed a limit order, the stock kept rising afterward and I still can't re-invest my money. Gambling, or knowing about gambling really is some education, you know there is a lot of bs out there, like limited sample sizes, confirmation bias. I'm really interested in beating the market, it has to be possible, but I need to learn some fundamentals and the tools available. It's not like I didn't watch CNBC for years, soI'm not that ignorant. I feel like I'm going to be vulnerable to holding onto a loser and cutting a winner short. I'm up $200 plus in 3 days, guess it's better than nothing. Can I dare sleep with money in BTC? It's the only thing you can mess with late at night, I know it's gambling there. Cheap for now, likely to be burned at some point. I certainly don't want to be long term in it. I will not be day trading, cannot sit and stare at the screen all day constantly checking.



Stocks take three days to settle. You need to get margin approval so you can trade in the interim.
The race is not always to the swift, nor the battle to the strong; but that is the way to bet.
MDawg
MDawg
Joined: Sep 27, 2018
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onenickelmiracle
March 14th, 2020 at 9:24:34 AM permalink
onenickel, if I follow what you wrote correctly, you bought a stock on Thursday, a day when the market declined in historically massive proportions, and sold it on Friday, a day when the market advanced in historically massive proportions. If whatever you bought Thursday didn't go up Friday, something's wrong!

As far as taking up stock trading as an occupation, as with anything, there is a learning curve and you'll probably end up losing money at least at first, and maybe always. Besides what I outlined above as far as reasons why most traders lose - lack of capital and lack of skill - over all the deck is stacked in favor of investing because of the advantage of TIME - over time most quality stocks go up, especially industry leaders. When you trade you do not have this advantage of time in your favor - when trading not only does the stock have to go up (or down, if you are shorting it), but it has to go up in the short TIME that you hold it.

Anyway, I'd recommend studying the market and making paper (imaginary) trades for a while before jumping into trading wholeheartedly. It takes years to get good at it, and most traders never get good at it.

I don't want to toot my horn too much, but I did predict accurately the night before the action for the DOW on Friday - that it would open very green, sell off greatly, but end up closing very very green. This same ability to foresee patterns is what enables me to sense when a stock is good for a long on a dip.

As well I accurately predicted Friday, after two successful TSLA trades, that the bottom would probably fall out on TSLA, and that a third trade would be problematic.

If anything, over the years I have sold myself short with my trades - sold too soon and made far less than I could, but in any case, I haven't had a losing stock trade in years, and over the years I have gone both long and short on trades, although my over all preference is long, as I remain a bull. I do believe the bull market will resume and it will be business as usual, probably sooner than most people would think.

It is quite possible to be a bull and still short a pop on a stock on a given day, and I have done that many times quite successfully, but easier, at least for me, is to buy the dips long and sell quickly for a scalping point or two.

I have definitely made far more money over the years with my long term holds than with my trades, but my holds are my holds, and the trades are extra income on top of the advances the long terms have made. The past few weeks however, my long terms are all down and my trades still march on profitably.
Last edited by: MDawg on Mar 14, 2020
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people.
onenickelmiracle
onenickelmiracle
Joined: Jan 26, 2012
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March 14th, 2020 at 3:24:15 PM permalink
Quote: unJon

Stocks take three days to settle. You need to get margin approval so you can trade in the interim.


Oh I didn't realize it. On etrade, was where I was, was where the money wasn't immediately available, but on robinhood it was as immediate buying power. Maybe the reason was because I bought a junk stock(SELB), idk, it was something I feel I shouldn't have bought and was glad to get out with a profit.
In the land of the blind, the man with one eye is the care taker. Hold my beer.
MDawg
MDawg
Joined: Sep 27, 2018
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March 15th, 2020 at 8:10:46 PM permalink
FED cut its baseline interest rate range to 0 to 0.25 percent, but the market was unimpressed and so far, DOW futures are down the maximum before stops are triggered = -1045 (Nasdaq futures -360.25).

Typically when the FED takes these sorts of actions, the market jumps, but then sells off as it starts thinking - huh? why does the FED need to do this? is the economy THIS bad that it NEEDS that sort of action? Typically though these actions come on pre-determined days during market hours. No doubt Pres. T had something to do with pressing for this announcement to come today, even before futures started trading, but the combination of FED actions and his announcement today seem to have impressed the markets as much as his announcement Wednesday, which is, not much. However, there may still be hope. The market might digest this information in a different way at some point, and go up, or at least not plummet all of tomorrow.

In any case, the game plan as far as trading will be based on the action in the pre-. If the stocks I trade such as AMZN TSLA etc. are absurdly sold off before the opening bell, buying them long at the low of the pre- will be a calculated risk expecting them to pop, at least temporarily, after the open.

Another one to consider for trading is CMG - I have been trading that long and short for YEARS. As far as longer term CMG: I loaded up on it long below 300 a while back, and did not hold it quite long enough, as in not all the way to 900s, but ever since it sold off (currently around 630) it is worth a look at least as a trading stock. CMG has a relatively small float and will move savagely one way or another, so - beware!
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people.
Suited89
Suited89
Joined: Dec 23, 2019
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March 16th, 2020 at 1:13:05 AM permalink
Dawg... the ONLY intrest-rate cut that means ANYTHING is the CREDIT-CARD rate.
Absolutely noone has that on the table.

JMNSHO
Suited89
some people need to reimagine their thinking
MDawg
MDawg
Joined: Sep 27, 2018
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March 16th, 2020 at 6:05:48 AM permalink
Already did one pre-market trade TSLA long 463 to 466. If was looking iffy TSLA went as low as 461. I am sure I sold myself short on that one, but a profit is a profit.

AMZN looks good at 1630, should jump at the open.

BAC is below TWENTY this is ridiculous. Been holding thousands of sh of that since its lows in 2010-2011.
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people.
MDawg
MDawg
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March 16th, 2020 at 6:11:29 AM permalink
Over all, we are now below the lows of Thursday.
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people.
MDawg
MDawg
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March 16th, 2020 at 9:08:43 AM permalink
BUYING LONG AT THE LOWS OF THE OPEN ONCE THE HALT WAS OVER WAS FABULOUS TODAY I hope some of you got a piece of that.

Trades entered into now, with the DOW recovered almost nine hundred points from its low - are much lower probability, but let's hope for the sake of our long term holds that we do continue to claw our way back up.
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people.

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