Quote:
Originally Posted by lewdog
NIO off and running. Personally my strategy is as follows.
I am swing trading stocks, holding a few days to a few months depending on how they move. My goal in this extended market is to find stocks on breakout and get 10-20% gains and limit losses to 5-10%. This allows me to only have to be only right 50% of the time and still make profit and grow my account size.
NIO is up 20% for me in a few weeks. I will sell 50% of my position this morning and put the rest of the shares with a stop market loss at Friday's high of $59. This will guarantee me a nice profit and avoid downside risk and capital loss, which I need to make more trades on stocks breaking out.
This book has revamped my thinking on individual stock investing. I recommend it highly.
https://www.amazon.com/Think-Trade-L...s%2C221&sr=8-5
Long term investing in my 401k and IRAs is a much different story. I simply rebalance 1-2x per year and don't do any of this. |
I'm beginning to rethink my shit as well.
I bought 1000 shares of plug a couple months ago around $11 and sold at $14. Now only own like 150 shares when I could've have (in theory $30+k in my holdings.
Same with NAIL. Kept playing with it. Still have 600 shares but could've kept it at my $9 buy in price instead of taking the quick gains.
There's others as well. But I've probably lost out on like $100k just by taking profits too early.
Rethinking to just STOP being so eager to profit and it's working out REALLY well for me just over the last month.
I've gained $10k just because NIO, TSLA and PLUG have broken out this week. Before I would've sold pre breakout.
HODL for me.
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