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SOOPOO
SOOPOO
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March 25th, 2021 at 4:55:28 AM permalink
MDawg... Iíll be traveling today. So who knows if Iíll 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
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 itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people.
SOOPOO
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 Ďunderwaterí group. Still have my 20 TSLA. at 647.5. Iíll be on next plane until around 4pm. So hopefully when I get off the Ďgreen waveí will continue.
MDawg
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 itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people.
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.



Itís 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 Iím 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. Iím 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. Canít 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.
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 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 itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people.
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
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 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 28th, 2021 at 10:20:51 PM permalink
Futures dropped, no particularly bad news on the horizon though?

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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