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MDawg
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March 22nd, 2021 at 6:53:14 AM permalink
Out, NFLX, swing trade from last week that I entered at 510. So, you could say that I booked my K for the day by way of that trade anyway.

I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
terapined
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March 22nd, 2021 at 8:40:41 AM permalink
I read this thread and all I see is the Billion dollar boys club.
They thought they were making millions
It was a bogus account
Great story
Much better then this thread
MDawg
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March 22nd, 2021 at 8:54:57 AM permalink
SooPoo everything is holding pretty solid so far. That might be it for the day, Good Luck! if you trade further. Just remember though - stocks are sometimes strongest just before they collapse. But of course, as we have seen, they always come back.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
SOOPOO
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MDawg
March 22nd, 2021 at 2:38:35 PM permalink
Quote: MDawg

SooPoo everything is holding pretty solid so far. That might be it for the day, Good Luck! if you trade further. Just remember though - stocks are sometimes strongest just before they collapse. But of course, as we have seen, they always come back.



I did sell at 687. After it did rise to 699 but didn’t make 700. Down I think to 665 again! I may buy tomorrow morning depending on what I’m doing in real life.

Terapined called us the million dollar club.... my trade which lasted nearly a week netted me $180. It is real money. I am quite happy with the result. I am still not 100% sure if what I am doing has a positive expectation, but it seems so....
OnceDear
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March 22nd, 2021 at 3:57:37 PM permalink
Quote: SOOPOO

I am still not 100% sure if what I am doing has a positive expectation, but it seems so....


Subject to whatever minimal bid-ask spread, commissions and fees, you quite possibly do have an advantage.... If the long term upward trend continues. Though that is a safe bet, it's not a lock. Even Blue chips can switch into catastrophic long term downward trends. Been there. Worked for one during the dot.com bubble and lost a LOT..... After I'd made a bigger lot.
Psalm 25:16 Turn to me and be gracious to me, for I am lonely and afflicted. Proverbs 18:2 A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
terapined
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March 22nd, 2021 at 4:38:31 PM permalink
Quote: SOOPOO



Terapined called us the million dollar club....


Billion dollar boys club
It's an infamous gang that got scammed. They thought all there trades were legit
They got scammed. All the trades bogus
SOOPOO
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March 22nd, 2021 at 5:29:02 PM permalink
Quote: terapined

Billion dollar boys club
It's an infamous gang that got scammed. They thought all there trades were legit
They got scammed. All the trades bogus



I use TD. I am 99.9+% confident that they are real trades. Not 100% though! For a while I had some in Schwab, some in individual mutual funds.... But I consolidated .....
DRich
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March 22nd, 2021 at 6:17:22 PM permalink
Quote: SOOPOO

I use TD. I am 99.9+% confident that they are real trades. Not 100% though! For a while I had some in Schwab, some in individual mutual funds.... But I consolidated .....



My self managed funds are in E-Trade. I never really did a comparison between the cheap brokers. I can't imagine that they are much different.
At my age, a "Life In Prison" sentence is not much of a deterrent.
MDawg
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March 23rd, 2021 at 7:31:10 AM permalink
SooPoo I was too cheap again today. My TSLA order was 665, so I got nothing. Might be a day with no trades, but something on my radar might dip sufficiently later this morning.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
SOOPOO
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March 23rd, 2021 at 7:36:33 AM permalink
Quote: MDawg

SooPoo I was too cheap again today. My TSLA order was 665, so I got nothing. Might be a day with no trades, but something on my radar might dip sufficiently later this morning.



I’m sitting at pool. Surprisingly well heated. Hot tub has cracked pipe.... supposedly It will be fixed later today. Will sunning I got in and out of TSLA for $10 x 15 shares. So $150. All while swimming......

Even though overall market is around even, all 5 of my portfolios are down more than the market.... I may have won the tiny battle but am losing the big war!

Edit.... back in TSLA and also TRIP.
Last edited by: SOOPOO on Mar 23, 2021
MDawg
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March 23rd, 2021 at 9:02:56 AM permalink
Yes, sometimes when sitting outside the courtroom waiting to go back into session (back when we used to go to the courthouse at all...nowadays almost all virtual) I'd do a trade here and there, just as you did at the pool. It's a great feeling.

Just to feel a part of and to join you today, I booked a 100. in TSLA 670 to 671.


As you may see, I was trying earlier too but cancelled all those orders out. Entry at 670 wasn't the best entry for that moment, but I just wanted to feel a part of, and buy and sell something. 😁

That 665 that I cancelled out didn't get quite that low on the first dip, but woulda been glorious if I hadn't cancelled it out because it would have filled nicely on TSLA's second dip today.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
MDawg
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March 24th, 2021 at 4:11:56 AM permalink
What's on the agenda this morning SooPoo? Looking good as far as long terms.

I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
MDawg
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March 24th, 2021 at 4:13:11 AM permalink
GME reported after the bell yesterday and dropped - but lately, when has that stock moved due to anything relevant or real world?
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
SOOPOO
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March 24th, 2021 at 5:08:58 AM permalink
No real plan today. But I checked how I’ve been doing. I have booked $2500 total in profit. That compares to my unrealized loss of $900 on the 5 stocks I bought specifically to trade that I still own. Some TSLA (671) TRIP (51.12) NOK (4.80) HERO (32.99) and NAK (.80). NOK is the big loser at is down to around 4. Not sure what wife has planned for us today... probably pool... so I may buy something else to trade...!
MDawg
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March 24th, 2021 at 5:29:36 AM permalink
Well that is the best way to approach trading, as in...no forced plan. If you see an opportunity to make money that seems like a high probability trade, take it! Otherwise, pass.

The way to look at what we do, trading additional shares in stocks we own long term, is as "free money" that we pluck from nowhere that we would not earn ("book" 😄) by doing nothing.


Have fun in FL. It's def. not pool weather in Vegas lately. Very windy.

I don't roast in the sun anyway. Just stop by occasionally for a few minutes to feel some rays.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
MDawg
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March 24th, 2021 at 5:54:31 AM permalink
I'm putting in an order for TSLA around 663 or so, see if it dips to that before it takes off again.

NFLX is now about 20 pts higher than where I sold for that particular trade, but I still booked an easy grand on it, and own a lot of very very long term NFLX anyway. Trading wise, best not to look back.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
unJon
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March 24th, 2021 at 6:41:27 AM permalink
Quote: MDawg

Well that is the best way to approach trading, as in...no forced plan. If you see an opportunity to make money that seems like a high probability trade, take it! Otherwise, pass.

The way to look at what we do, trading additional shares in stocks we own long term, is as "free money" that we pluck from nowhere that we would not earn ("book" 😄) by doing nothing.


Have fun in FL. It's def. not pool weather in Vegas lately. Very windy.

I don't roast in the sun anyway. Just stop by occasionally for a few minutes to feel some rays.


(Bold added)

I don’t trade. Only long term invest. But I don’t understand the bolder.

Shouldn’t you also subtract from the “free money” the opportunity cost of what that money would be invested in if you didn’t hold it for trading? In other words, if you weren’t trading with that money, wouldn’t it be invested in your long term hold stocks? So by trading you are costing yourself the appreciation that money would have gotten by holding those shares.
The race is not always to the swift, nor the battle to the strong; but that is the way to bet.
SOOPOO
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March 24th, 2021 at 6:52:46 AM permalink
Quote: unJon

Quote: MDawg

Well that is the best way to approach trading, as in...no forced plan. If you see an opportunity to make money that seems like a high probability trade, take it! Otherwise, pass.

The way to look at what we do, trading additional shares in stocks we own long term, is as "free money" that we pluck from nowhere that we would not earn ("book" 😄) by doing nothing.


Have fun in FL. It's def. not pool weather in Vegas lately. Very windy.

I don't roast in the sun anyway. Just stop by occasionally for a few minutes to feel some rays.


(Bold added)

I don’t trade. Only long term invest. But I don’t understand the bolder.

Shouldn’t you also subtract from the “free money” the opportunity cost of what that money would be invested in if you didn’t hold it for trading? In other words, if you weren’t trading with that money, wouldn’t it be invested in your long term hold stocks? So by trading you are costing yourself the appreciation that money would have gotten by holding those shares.



Exactly! I answered that a bit ago. I think I am tying up maybe 30 grand on a day in these. My yearly expectation on 30 grand is, say, 2 grand positive or so? In the month or two I’ve been doing this I’m up $1600 so ‘better’ than expected.... My B in Law who does this for a living crushes the expected 6-10% that HODL might produce.
unJon
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March 24th, 2021 at 7:02:32 AM permalink
Quote: SOOPOO

Quote: unJon

Quote: MDawg

Well that is the best way to approach trading, as in...no forced plan. If you see an opportunity to make money that seems like a high probability trade, take it! Otherwise, pass.

The way to look at what we do, trading additional shares in stocks we own long term, is as "free money" that we pluck from nowhere that we would not earn ("book" 😄) by doing nothing.


Have fun in FL. It's def. not pool weather in Vegas lately. Very windy.

I don't roast in the sun anyway. Just stop by occasionally for a few minutes to feel some rays.


(Bold added)

I don’t trade. Only long term invest. But I don’t understand the bolder.

Shouldn’t you also subtract from the “free money” the opportunity cost of what that money would be invested in if you didn’t hold it for trading? In other words, if you weren’t trading with that money, wouldn’t it be invested in your long term hold stocks? So by trading you are costing yourself the appreciation that money would have gotten by holding those shares.



Exactly! I answered that a bit ago. I think I am tying up maybe 30 grand on a day in these. My yearly expectation on 30 grand is, say, 2 grand positive or so? In the month or two I’ve been doing this I’m up $1600 so ‘better’ than expected.... My B in Law who does this for a living crushes the expected 6-10% that HODL might produce.



Thanks, SOOPOO. That looks like the right comparison to me.
The race is not always to the swift, nor the battle to the strong; but that is the way to bet.
MDawg
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March 24th, 2021 at 8:36:02 AM permalink
I ended up going in at 661, and it dropped a full 10 pts. I had an order in to average more at 648, but it never dropped that low.

Anyway, I wanted 665 but let it go at 662, which it eventually came back to.

Imagine how happy I was to see


Trade filled!

I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
OnceDear
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March 24th, 2021 at 10:21:00 AM permalink
Quote: MDawg

I ended up going in at 661, and it dropped a full 10 pts. I had an order in to average more at 648, but it never dropped that low.

Anyway, I wanted 665 but let it go at 662, which it eventually came back to.

Imagine how happy I was to see

$165,000 invested and another $160,000 lined up for the martingale averaging. And you happily booked a profit of $200 $250. I stand corrected.

Well done.
Last edited by: OnceDear on Mar 24, 2021
Psalm 25:16 Turn to me and be gracious to me, for I am lonely and afflicted. Proverbs 18:2 A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
MDawg
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March 24th, 2021 at 10:35:25 AM permalink
Not $200. $250.

Two more. On the third trade I had to average in @ 642 but as always, it worked! $750. booked today. Some days are more difficult than others, but a win is a win. Now watch TSLA go back over 650 anyway and make it so that I left a lot on the table. I am sure those scavenging other traders are divvying up my 500 shares will take them higher. Still, I entered the trade to make a quick 250 and that is what I did. Mission accomplished.



Book an average K a day and it adds up.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
OnceDear
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March 24th, 2021 at 10:44:18 AM permalink
Quote: MDawg

Book an average K a day and it adds up.

More hit and run nonsense for your disciples.
Psalm 25:16 Turn to me and be gracious to me, for I am lonely and afflicted. Proverbs 18:2 A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
MDawg
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March 24th, 2021 at 10:48:16 AM permalink
No offense - just - I get the impression that this is like an alien world to you. This is what stock traders do. What do you think all those trades are all day long driving the stock up and down?? I'm more successful than most, but at the same time my goals are relatively modest because I'm mostly just doing this for fun on the side. And losing is not an option to MDawg!

My long terms remain and will not be sold.
Last edited by: MDawg on Mar 24, 2021
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
OnceDear
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March 24th, 2021 at 10:54:53 AM permalink
Quote: MDawg

In general, none of this is anything within your ken. That is no offense - just - I get the impression that this is like an alien world to you.

You're entitled to your opinion. I get the impression we don't inhabit the same reality.

I ask again why you don't leverage these trades.
Psalm 25:16 Turn to me and be gracious to me, for I am lonely and afflicted. Proverbs 18:2 A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
MDawg
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March 24th, 2021 at 10:59:03 AM permalink
Talk to some people who trade stocks. You are communicating with one right now, but perhaps if you spoke in person to someone else who trades the US market actively this will all make more sense. Different traders have different trading styles. I go with what works for me. Looks like something similar is working for SooPoo too.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
SOOPOO
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Downwarddawg
March 24th, 2021 at 1:27:45 PM permalink
Quote: Downwarddawg

Sock's statement redacted by Mod



Great first post while visiting a Las Vegas based gambling forum..... Will you tell us which banned member you are or do we have to guess?

I brag too.....mostly about basketball and how gorgeous my wife is.... I know I at times must seem obnoxious..... This is an Internet forum.... if you don't like MDawg's bragging..... I suggest avoiding threads that start with the words ""MDawg".....

And it's ok not to believe MDawg..... but you really went through the trouble of registering an account to say so? How has that worked out for your banned account?
Last edited by: OnceDear on Mar 24, 2021
SOOPOO
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FTB
March 24th, 2021 at 1:48:00 PM permalink
Quote: Downwarddawg

Sock's statement redacted by Mod



Not agreeing or disagreeing on whether MDawg is a rich guy who brags. Just wondering WHY THE F YOU would join a forum SOLELY to point out he is obnoxious and lying about money stuff? What does that say about you? I'm telling you, maybe 1/4, maybe 1/2, maybe 3/4 of the members think I'm obnoxious and brag too much. But SOME members like my stuff. Just like I like MDawgs stuff. I have been clear that I don't believe his bacarrat tales, but the rest is at least plausible to me. It costs me NOTHING to politely interact with him. Would I guarantee everything in his stock shtick is factual? No! But WHO CARES! He is fun to talk to, and he certainly has a good understanding of stocks, at least from his perspective!
MDawg
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March 24th, 2021 at 2:41:00 PM permalink
SooPoo I'm sure you noticed the meltdown towards the end of the day. That's why, as I've said before, that it's best to do your trades EARLY, because earlier there is more up and down, as people haven't given up on stocks yet even if they are going to plummet by the bell. As we get closer to the bell it's a crap shoot as to whether we'll close at the high or low for the day, and as well - TIME is working against you there is less time for a turnaround if you get stuck in a trade.

In other words, towards the close stocks may rocket, or they may plummet, but there is really no way to predict which with absolute certainty. (I have various pieces of data I use to try to predict which way we will go by the close, but it is not an exact science by any means.) However, much earlier in the day it is easier to get in higher probability trades on dips, as those earlier dips tend to get bought right back up no matter what else ends up happening into the close, especially if it is just the first day of a sell off. I mean there are a lot of factors to consider but a general rule of thumb is to trade earlier in the day versus closer to the bell if you are day trading.

I just noticed OnceDear's question about why I don't leverage my trades. If you mean, why don't I buy more shares and make more money per trade, I believe I have answered that more than once, no? It has to do with the amount of money I'm willing to sock into a single trade. If I'm trying to keep it around seven figures max per trade, then I leave a lot of room for averaging in more shares. As I have said before too, for the vast majority of my trades I could have done larger lots and gone for more points but every now and then I get caught, need to average in more shares, and then perhaps even more shares, and for that contingency, I play it more conservatively on each trade.

For example today - on that first trade at 661, I got greedy and wanted 665 to take the full boat 1000. I could have had 663 or 664 pretty easily and QUICKLY, but 665 was not in the cards. The stock plummeted, down to something like 652 or so, came back barely to 662, and I got out with a small profit. That would be one of the "Minority Report" trades where trying to squeeze more out of it than usual could have backfired. But still - it was an early morning trade, people hadn't "given up" on TSLA yet, and it bounced back pretty nicely before a further dip later.

Anyway, in general, I just go for what I view as small lots (maybe two or three hundred K of the stock per lot), and then average in as needed, up to my comfort level of seven figures or so per trade, and try to book what seems safe for that particular trade at that particular moment, in terms of points, again, on the conservative side as far as practically scalping versus swing trading. And anyone who says booking a grand a day is insignificant isn't thinking about how that translates to a quarter million or so by the end of the year, for just a few hours of work five days a week, work that may be done while doing other things as well.
Last edited by: MDawg on Mar 24, 2021
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
AxelWolf
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March 24th, 2021 at 9:18:31 PM permalink
Quote: SOOPOO

Great first post while visiting a Las Vegas based gambling forum..... Will you tell us which banned member you are or do we have to guess?

I brag too.....mostly about basketball and how gorgeous my wife is.... I know I at times must seem obnoxious..... This is an Internet forum.... if you don't like MDawg's bragging..... I suggest avoiding threads that start with the words ""MDawg".....

And it's ok not to believe MDawg..... but you really went through the trouble of registering an account to say so? How has that worked out for your banned account?

I don't think anyone thinks you are obnoxious. Your bragging(and I wouldn't even call it that) seems to be just the right amount. But here is the thing, you have provided enough evidence and history including IRL meet-ups' that backs up all your claims. You did well for yourself in life, there's nothing wrong with sharing some things about your good fortune and life.

P.S. I can even forgive the fact that you are a stock talk junkie who is willing to talk to anyone no matter what the situation is just to get your fix. I know some homeless guy with a cell phone who likes to talk stocks, can I pass on your cell number to him?
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
SOOPOO
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March 25th, 2021 at 4:55:28 AM permalink
MDawg... I’ll be traveling today. So who knows if I’ll look much. I still have 5 positions underwater. I might buy more of them to lower my cost bases. Depends on my mood!


Edit. Just bought 10 more TSLA at 626. So cost basis now 647.5. Down the sinkhole?
Last edited by: SOOPOO on Mar 25, 2021
MDawg
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March 25th, 2021 at 9:30:26 AM permalink
Safe travels SooPoo.

Variety of little trades today, booked 1100. I am in some trading sh of NFLX, 200 sh @ average 507.5 that is about even at the moment, but I'll either sell these at 509 today or hold for the inevitable next big run up of NFLX.

I should have just held that first TSLA trade @ 613 that was a real winner, but it plummeted to about 605 in the pre- so I lowered my sale price and got out at 614 before the bell. Right now TSLA is over 640.

AMZN kept dropping as I kept buying on its dips and rapid fire selling, but is in recovery mode now.


I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
SOOPOO
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March 25th, 2021 at 10:55:42 AM permalink
I made $100 on TRIP which soared today. I was underwater a percent or two but it went up a lot. My trade was 100 shares and $1 profit. I like removing a stock from the ‘underwater’ group. Still have my 20 TSLA. at 647.5. I’ll be on next plane until around 4pm. So hopefully when I get off the ‘green wave’ will continue.
MDawg
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March 26th, 2021 at 6:13:52 AM permalink
I missed the early morning movements in the pre- from red to green on AMZN and NFLX, and the movement from very red to only slightly red on TSLA. I actually tried to buy some more NFLX at 497 yesterday to add to those trading shares didn't get a fill as I entered it after it had already risen a few cents from there.

SooPoo so you need 648 or better on TSLA to get slightly green? Shouldn't be a problem. If not today, next week. Good job averaging in.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
SOOPOO
SOOPOO
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March 26th, 2021 at 6:53:52 AM permalink
Quote: MDawg

I missed the early morning movements in the pre- from red to green on AMZN and NFLX, and the movement from very red to only slightly red on TSLA. I actually tried to buy some more NFLX at 497 yesterday to add to those trading shares didn't get a fill as I entered it after it had already risen a few cents from there.

SooPoo so you need 648 or better on TSLA to get slightly green? Shouldn't be a problem. If not today, next week. Good job averaging in.



It’s really all semantics.... but in my mind I still need 669! I sold the 626 shares at 646 and consider that $200 booked! So I still have the 669 shares. Really irrelevant as it is in a non taxable account. Later I’m going to add up how much I have actually tied up in my underwater trades... then figure out what my return really has been on the money I am tying up. I’m sure it is good so far. It sounds like you risk low 7 figures. If you just bought SPY or QQQ and just HODL you could expect 80k per year on $1million. So to me that is the bar you need to beat to say your trading is successful. Seems like you are easily exceeding that bar.

Edit. In AMZN at 3050. Seconds later already down to 3040! Sell order at 3065. I feel better about AMZN than TSLA. Can’t see AMZN really tanking. Can envision TSLA plummeting.
Last edited by: SOOPOO on Mar 26, 2021
MDawg
MDawg
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March 26th, 2021 at 7:16:27 AM permalink
Oh yes, I make far more than 80K a year trading. Plus keep in mind that I do it for fun and profit (the emphasis being on fun). Also I am able to do this while doing other work during the same time. Of course, if I weren't any good at it then it wouldn't be any fun. There's no fun in losing money.

Plus take a look at AMZN. While my very long term shares are hit way out of the park, for the past months AMZN has been going sideways and trading additional shares of it has essentially pulled money out of thin air.

As far as your averaging in at 626 and then letting those shares go. If you buy them back, fine. But my experience has been that when I've bot in "averaging in" shares and let them go, that later the stock goes high enough so that if I had just held everything I would have over all done better. (Sometimes, not quite high enough to get me out of the first lot of shares at a profit though, if you gather my meaning.) In other words - if you get really stuck and you average in, and then give up and sell those lower shares too soon, you may remain stuck a while. But again, if you do buy back in average-in shares lower than 646, then that's something.
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MDawg
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March 26th, 2021 at 11:12:08 AM permalink
TSLA looks good at 603.

Problem is I am already stuck in some trading shares of TSLA at 616. If I don't get 617 today will have to hold these for a swing trade into next week.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
SOOPOO
SOOPOO
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March 26th, 2021 at 12:20:50 PM permalink
Quote: MDawg

TSLA looks good at 603.

Problem is I am already stuck in some trading shares of TSLA at 616. If I don't get 617 today will have to hold these for a swing trade into next week.



Sadly for me I got back in.... but at 624. Also got in AMZN at 3050. My overall portfolio was doing well but my trading stuff today has failed!
MDawg
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March 26th, 2021 at 1:54:44 PM permalink
I understand the TSLA @ 624 reasoning. You figured you bot before at 626, sold that at a profit, so getting back in anywhere lower makes sense. It's always easy looking back, but still - in general when I buy a stock for averaging in I don't let it go until my average in price is hit for the combined shares. There are two dangers with this partial selling of combined shares before you hit your target:
(1) Is that you end up shut out - the stock doesn't go back below 626, so you aren't able to average in any more shares and you end up like a deer frozen in the headlights.
(2) That you buy back in and the stock drops, such that you bot back in too early. This happened to you today.

The latter (2) happened to you. For now anyway. TSLA made a comeback to 619 or so and I expect you'll be in the money with those 624 shares next week easily.

I just can't tell you how many times I've seen it where I'll buy a stock at say 500, then average in more shares at 480. The stock goes to 486 or so, I WANT to panic and sell the second lot, but I do NOT, then it drops to 478 and I do nothing, but am sorry that I didn't let go of some shares at a profit. Next thing you know it goes to 495, which gets me out of the combined trade at a good profit, and then collapses to 470. Now if I HAD sold the second lot before the miracle happened, I would be doubly stuck in the first shares, and the little I would have made selling impatiently the second lot, wouldn't make up for the over all loss of the 500 basis shares where the stock is now at 470. In short, act QUICKLY in averaging in on the FIRST drop (but do not pull the trigger too quickly in terms of averaging in just a few dollars lower.) And then, having made the decision to average in, stick to your guns and sell the entire lot at a profit, not piece meal. YES there are EXCEPTIONS, but that's the way I do it, and it has not failed me yet.

The above hypothetical might have been a little much to follow if you're not a trader, but in general just stick to your guns with averaging in, sell the combined lot at a profit. As far as WHEN to average in, don't do it DarkOz style every few pennies. Average in when the stock has dropped a good sum below your entry price. Better to miss the average in entirely (which means, anyway, that the stock rebounded) than to pull the trigger too soon and have the stock drop further. With the stocks I trade I don't average in until the stock has dropped at least a good ten plus points below my entry point, and for the second average in, I might look for even more than a ten point drop, more like fifteen or twenty or even more depending on which stock is involved. (I've averaged in AMZN trades where I didn't average in another lot until the sucker had dropped a HUNDRED points. That's patience! (which...in the stock market, patience really pays off).)

Enough free lessons for today. 😆

Buying AMZN at 3050, you lucked out and it came back to even above that price at the close, but that entry point makes no sense to me. You pulled the trigger much too soon on that one. The way AMZN was behaving today, I wouldn't have touched it for a trade until it had dropped to the low 3000s.

I lucked out too. I had orders in to buy more TSLA at 598, but it never went quite that low. I was at the resort gym when I entered an order to just dump the shares at 616.5 and book $250. I didn't even expect that to fill, but it did! and so I'm out of the one trade I did today at a profit. I just didn't want to be stuck in a TSLA trade before going to the casino's tables, including all weekend, so I lowered my sell price from the 617. As it turned out, TSLA busted through all the way to 619.


The filled trades make it look easy, but here was the thought process, including all the cancelled out trades.



I'm in the money now with the NFLX from a couple days ago. I actually tried to average in more shares at 495, but it never went quite that low.
Last edited by: MDawg on Mar 26, 2021
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
MDawg
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March 28th, 2021 at 10:20:51 PM permalink
Futures dropped, no particularly bad news on the horizon though?

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Wellbush
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March 29th, 2021 at 12:12:09 AM permalink
They say commodities are on the rise, and their mining stocks could boom. I got money in gold stocks and bullion etfs
All persons reading my posts gamble at their own risk, as I do. I don't ordinarily dispute math. I may dispute math I don't understand, or if I think it's faulty. I am not a conspiracy theorist.
unJon
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March 29th, 2021 at 4:21:33 AM permalink
Quote: Wellbush

They say commodities are on the rise, and their mining stocks could boom. I got money in gold stocks and bullion etfs

You do? I thought you didn’t have $2k to your name
The race is not always to the swift, nor the battle to the strong; but that is the way to bet.
MDawg
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March 29th, 2021 at 4:55:56 AM permalink
Nasdaq futures are only marginally red at the moment. AMZN is actually green, and the others I own follow and trade are only marginally red at the moment anyway. Not enough to be worth buying into yet for a trade.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
MDawg
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March 29th, 2021 at 5:43:43 AM permalink
You can now buy a Tesla with Bitcoin — but the IRS will want a cut

Why would this be automatic? Will TSLA report the transaction to the IRS? If I buy something with over 10K cash the merchant is supposed to make a report to the government, but unless regulations are imposed why would anyone know I bought something with my bitcoin?
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
Wellbush
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March 29th, 2021 at 6:16:02 AM permalink
Well, this is money in my retirement account. Here in Australia it’s called superannuation.

I can’t touch it till I’m 59, but I can invest it
All persons reading my posts gamble at their own risk, as I do. I don't ordinarily dispute math. I may dispute math I don't understand, or if I think it's faulty. I am not a conspiracy theorist.
OnceDear
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March 29th, 2021 at 6:18:29 AM permalink
Quote: MDawg

You can now buy a Tesla with Bitcoin — but the IRS will want a cut

Why would this be automatic? Will TSLA report the transaction to the IRS? If I buy something with over 10K cash the merchant is supposed to make a report to the government, but unless regulations are imposed why would anyone know I bought something with my bitcoin?

What a rubbish article.
Yes, spending BTC is a PITA because it constitutes a capital asset disposal with potential tax consequences. Doesn't mean you'll get a tax liability. It's particularly irritating because of the accounting requirements.

The more significant issue is the whole 'Know Your Customer' and 'Anti-Money Laundering' aspect, which I know is a big issue in the UK and I expect it might be in the US. I guess we need an attorney to explain that to us. Pity we don't know any*

If I chose to buy a property or a car, or even engage a UK lawyer, or even open a casino account, I'm obliged to explain any significant source of funds to be used. Can't just buy a new car with a briefcase of cash, let alone some BTC.

*Well the forum is anonymous, so how could we claim to?
Psalm 25:16 Turn to me and be gracious to me, for I am lonely and afflicted. Proverbs 18:2 A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
OnceDear
OnceDear
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March 29th, 2021 at 6:20:27 AM permalink
Quote: Wellbush

Well, this is money in my retirement account. Here in Australia it’s called superannuation.

I can’t touch it till I’m 59, but I can invest it

You can hold actual Bitcoin in a retirement account in Australia?!? Impressive.
Psalm 25:16 Turn to me and be gracious to me, for I am lonely and afflicted. Proverbs 18:2 A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
MDawg
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March 29th, 2021 at 6:32:00 AM permalink
Of course there is a requirement to pay taxes on any asset disposal, etc. There is also a requirement to pay taxes on table games winnings.

But there is no reporting of table games wins to the government. So my question stands, if I buy a TSLA with my bitcoin will this be reported to the government by TSLA? As of right now, the answer would be no, so the article as I read it refers to the legal obligation of any taxpaper versus some kind of new regulation reporting the transaction.
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MDawg
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March 29th, 2021 at 6:48:21 AM permalink
Sold the NFLX swing trade from last week at a profit finally.



Looking at a TSLA trade now.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
MDawg
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March 29th, 2021 at 6:56:48 AM permalink
Quick TSLA trade before it collapsed.


Looking for reentry at 595 if it gets that low.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
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