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#7231 | |
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Join Date: Jan 2009
Casino cash: $1185743
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Posts: 64,061
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#7232 |
I'll be back.
Join Date: Nov 2002
Casino cash: $3410478
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Those rules would have taken me out of CCIV already, because the stock was so volatile early.
They are good rules for scaredy cats, though.
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#7233 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $1014734
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I’m fond of taking profits to break even and let the profits ride awhile but others may disagree. |
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Posts: 57,556
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#7234 | |
Fish are scared of me
Join Date: Nov 2001
Casino cash: $430477
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I set up a new account this year just to be a little more aggressive in it and only put in $3500 to get it going. I'll add another 1500 shortly with a goal of getting to 50K by year end. I'm not following the smart rules in this account . it's Homerun or bust. BUT what I'm doing in this account is every time I hit a home run I add 1 share into each of the 5 ARK funds to protect my base. |
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Posts: 40,721
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#7235 |
I'll be back.
Join Date: Nov 2002
Casino cash: $3410478
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SOME of it is good advice.
I, too, never invest more than a fraction of my account value in a single stock. However the 10% stop loss thing is just plain being scared and you're potentially missing out on huge gains when you do that. When I bought IBIO on 6/5/2020 I paid 1.55 a share. On 6/8 it fell to 1.38, which would have triggered lew's 10% stop loss. On 7/20 it hit 7.23 and I sold for YUGE profits. It depends on the stock I suppose but 10% stop loss? ![]()
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#7236 |
I'll be back.
Join Date: Nov 2002
Casino cash: $3410478
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Here's another one for you: CDEV
Bought on 5/27/2020 at 1.16 a share. bae tanked to 75 cents a share on 7/10 stop loss my ass because i sold at 2.98 two weeks ago
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#7237 |
Cheat Death
Join Date: Nov 2007
Location: Land of Drincoln
Casino cash: $988244
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I stop loss after a profound run up and that's so I can buy back in after the inevitable pull back dips further than the stop loss. Ride the next run up. Rinse, repeat
But I barely know what I'm doing so YMMV |
Posts: 34,773
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#7238 |
Veteran
Join Date: Jun 2011
Location: Quebec, Canada
Casino cash: $9994975
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Totally disagree with the 10% stop loss advice.
As always, one has to diversify. Stop loss can make sense for more risky stocks but 10% is not enough. I personally rarely use stop loss but for the most part I stay away from small cap stocks. That's my opinion. |
Posts: 2,393
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#7239 | |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $621900
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Posts: 46,019
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#7240 | |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $621900
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IBIO also went below $1 after its summer run up. Plenty of bag holders still in it. It will bite you one day. |
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#7241 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $621900
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At some point you won’t be trading in a bullish market and buying back in on a dip could result in your capital being tied up in a losing position (no stop loss on entry) for a long time if it doesn’t pivot and reverse trend. That’s where reading charts and technical analysis can make it at least better than guessing.
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#7242 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $621900
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Clay, can you provide any examples of stocks over $10?
![]() How long did you stay in IQ, what was the loss? Also you realize getting stopped out doesn’t mean you can’t re-enter later? You’re acting like these $1-2 stocks that went south after you bought them had 100% certainty to go back up. That’s not always the case. The chart could tell you later if it makes a strong pivot and should be bought back in. |
Posts: 46,019
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#7243 | |
I'll be back.
Join Date: Nov 2002
Casino cash: $3410478
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Posts: 284,790
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#7244 | |
Cheat Death
Join Date: Nov 2007
Location: Land of Drincoln
Casino cash: $988244
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#7245 |
I'll be back.
Join Date: Nov 2002
Casino cash: $3410478
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This year I've traded CCIV, VTIQ/NKLA, VIAC and SPY all well above $15.
Stop lecturing me. ![]()
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