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#6736 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $621900
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No problem buying NAIL but trade that thing on swings, like today! Stop losses can get hit easily since it moves a lot but definitely recommend using them to lock in profits or avoid large downside risk if it gaps down.
Hope that helps! |
Posts: 46,019
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#6737 | |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
Casino cash: $1471110
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Quote:
Sounds like you picked great stocks but hot put too early.
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"The only difference between sex for free and sex for money is that sex for free costs you a WHOLE LOT more!" ~Redd Foxx~ ![]() "The men who drafted Patrick Mahomes" ![]() |
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#6738 | |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $621900
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Quote:
Learning what part of the market we are in and at what stage the stock is in are key. Locking in profits are never a bad thing (and this market is extended), and there's always another stock to be found that meets Stage 2 criteria for finding a breakout and making more money. No can can consistently sell at the top or buy at the bottom. It's simply an unrealistic goal. Holding too long keeps your capital locked up in sideways markets (doing nothing) or worst case scenario, sees you losing capital in a falling stock and then averaging down. The goal is the find a quick profit (days to months), turn it, and then find another stock that meets your criteria. The key to growing account value in a trading account is reducing capital loss at all costs. Since I adopted a key plan and have been following these strategies since December 1st, I am up 12% while the S&P is about 5%. I followed similar plans before but not at 100% and my biggest failures were allowing myself to hold a falling stock, convincing myself it would turn around. Getting a 25-50% loss on a stock just shouldn't be an option. I think most people buying individual stocks needs to have an appreciation for risk management. It only takes one terrible play to erase the gains you've made in numerous other stocks. You could use NAIL as that example as that leveraged fund could quickly move against you. By all means I am just providing information about how I trade, but everyone can make their own educated opinion. |
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#6739 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
Casino cash: $1471110
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I don't remember Lewdog, do you buy and sell options?
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"The only difference between sex for free and sex for money is that sex for free costs you a WHOLE LOT more!" ~Redd Foxx~ ![]() "The men who drafted Patrick Mahomes" ![]() |
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#6740 |
MVP
Join Date: Aug 2000
Location: Lee's Summit
Casino cash: $4821637
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In a sense, lewdog is right.
My problem with some of it is. If I'd had just let shit sit just over the last 6 months to a year of my purchases, I'd be up about $100k for the YTD. Using his method I've gained probably 10&15% in gains but nothing like what I could've made if I would've just held. A profit is a profit though so there's 2 ways to go about this. A stop loss on NAIL isn't necessarily a bad thing. I don't have stops on TSLA, NIO, Plug or AAPL and they're the drivers behind an almost $20k gains just within the last 2 weeks. Glad someone mentioned NIO here last month. Sent from my SM-G973U using Tapatalk |
Posts: 8,287
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#6741 |
I'll be back.
Join Date: Nov 2002
Casino cash: $3410478
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ABML might be the next play
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#6742 | |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $621900
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Quote:
I also have positions, like AAPL, that I consider long positions. I do not have stop losses on this or if I do, it's very far from where it's currently trading. I personally like taking profits after a nice gain (10-20%) on 50% of my position. If I time the stock correctly, this happens in a few days to months. I will many times then let the remaining position run by placing a stop loss at purchase price. This way if the stock retraces, I still have pocketed whatever gains I made on 50% of the position, no matter what. By placing the stop loss at purchase price, I also have a smaller chance of getting stopped out quickly on a stock that may continue to run. Good discussion and please share others' ideas for buying/selling. |
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Posts: 46,019
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#6743 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $1014734
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Quote:
Long term holds on companies with bad financials are a fantastic way to book capital losses. |
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Posts: 57,556
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#6744 |
MVP
Join Date: Aug 2000
Location: Lee's Summit
Casino cash: $4821637
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My NAIL stop loss triggered today. I sold all instead of the half. feels good to pocket that 20% gain. Will buy back in if ti creeps down more.
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#6745 | |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $621900
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Quote:
Last time it hit these levels was October and it didn't stay there long before falling. We will see how it consolidates this recent move up and hopefully it can bounce around and show support in the low 50's (recent breakout resistance was there). If price action tightens in the next few weeks and shows this, I may consider buying back in the low to mid 50's. |
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#6746 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
Casino cash: $1471110
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Market's looking a little tired and top heavy.
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"The only difference between sex for free and sex for money is that sex for free costs you a WHOLE LOT more!" ~Redd Foxx~ ![]() "The men who drafted Patrick Mahomes" ![]() |
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#6747 |
I'll be back.
Join Date: Nov 2002
Casino cash: $3410478
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all my stonks are up
if you had purchased ABML two days ago you'd have made a shit ton of money my investment advice is GOLD
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#6748 |
Veteran
Join Date: Mar 2003
Location: Blue Springs, MO
Casino cash: $495305
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Posts: 1,963
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#6749 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $621900
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I like PRPL this year as an individual stock.
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Posts: 46,019
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#6750 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
Casino cash: $1471110
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This is a perfect example of why the market is ready to roll over......
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"The only difference between sex for free and sex for money is that sex for free costs you a WHOLE LOT more!" ~Redd Foxx~ ![]() "The men who drafted Patrick Mahomes" ![]() |
Posts: 51,587
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