|
02-13-2021, 10:30 AM | #7231 | |
▓▓▒▒▒▒▒▒▒▒▒▒▒▒▓▓
Join Date: Jan 2009
Casino cash: $985743
|
Quote:
|
|
Posts: 64,206
|
02-13-2021, 11:24 AM | #7232 |
I'll be back.
Join Date: Nov 2002
Casino cash: $3210478
|
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.
__________________
Chiefs game films |
Posts: 285,914
|
0 1 |
02-13-2021, 11:46 AM | #7233 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $814734
|
Quote:
I’m fond of taking profits to break even and let the profits ride awhile but others may disagree. |
|
Posts: 57,699
|
02-13-2021, 12:08 PM | #7234 | |
Fish are scared of me
Join Date: Nov 2001
Casino cash: $230477
|
Quote:
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. |
|
Posts: 40,774
|
3 0 |
02-13-2021, 12:19 PM | #7235 |
I'll be back.
Join Date: Nov 2002
Casino cash: $3210478
|
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? GTFO
__________________
Chiefs game films |
Posts: 285,914
|
02-13-2021, 12:23 PM | #7236 |
I'll be back.
Join Date: Nov 2002
Casino cash: $3210478
|
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
__________________
Chiefs game films |
Posts: 285,914
|
02-13-2021, 12:24 PM | #7237 |
Cheat Death
Join Date: Nov 2007
Location: Land of Drincoln
Casino cash: $788244
|
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: 35,067
|
02-13-2021, 12:34 PM | #7238 |
Veteran
Join Date: Jun 2011
Location: Quebec, Canada
Casino cash: $9994975
|
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
|
02-13-2021, 01:01 PM | #7239 | |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $431900
|
Quote:
|
|
Posts: 46,066
|
02-13-2021, 01:04 PM | #7240 | |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $431900
|
Quote:
IBIO also went below $1 after its summer run up. Plenty of bag holders still in it. It will bite you one day. |
|
Posts: 46,066
|
02-13-2021, 01:10 PM | #7241 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $431900
|
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.
|
Posts: 46,066
|
02-13-2021, 01:11 PM | #7242 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $431900
|
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: 46,066
|
02-13-2021, 01:12 PM | #7243 |
I'll be back.
Join Date: Nov 2002
Casino cash: $3210478
|
__________________
Chiefs game films |
Posts: 285,914
|
02-13-2021, 01:13 PM | #7244 | |
Cheat Death
Join Date: Nov 2007
Location: Land of Drincoln
Casino cash: $788244
|
Quote:
|
|
Posts: 35,067
|
02-13-2021, 01:17 PM | #7245 |
I'll be back.
Join Date: Nov 2002
Casino cash: $3210478
|
This year I've traded CCIV, VTIQ/NKLA, VIAC and SPY all well above $15.
Stop lecturing me.
__________________
Chiefs game films |
Posts: 285,914
|
|
|