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One more time on this thread. The casino is not gambling when it wins the majority of the time. It knows statistically it WILL WIN. I don't give a hoot what the dictionary defines as gambling. If you KNOW YOU ARE GOING TO WIN IT IS NOT GAMBLING!

I totally disagree with that statement. If you know the company and what it does and have any idea of the demand for the products or services it sells then you would be missing some great opportunities. If you don't have a clue and are just looking at a chart, then yes, it is gambling unless...

You take a big chance anytime a stock has had a good runup in price holding through earnings. If the stock had already tanked it is much more paletable to hold through earnings. edit: unless you know the company consistently sandbags on earnings like apple.

I promise you one thing. If you keep buying 1-2 dollar stocks you will FAIL.

No it's not. It's actually better. You have a choice of placing stops for normal hours and placing stops for after-hours. It's much more versatile, and makes good sense.

Exactly. If I go into a stock with a target of 6 and scale out at 4 and the original stock does eventually make it to 6, it was only a bad move if my next stock makes less than 2 in the same period of time it took to capture the other 2 dollars from the first stock.

No matter how bad things appear in the economy this market is not ready to drop YET. Personally I don't believe it will have a chance of dropping significantly until the s&p gets above 1400.

True, but steel seems to move from one extreme to another. Between 1999-2002 stainless steel dropped from 1.20 lb to .57. This was an unprecedented drop. The .57 has not been seen in my entire career(34 years). Now it has gone from that .57 all the way up to 2.00 lb. The 2.00 is another...

Austin you very well may be correct, but I still look at it as a woulda, coulda, shoulda scenario. It's all about being a monday morning quarterback but unfortunately we cannot trade with hindsight. Have a good trip!!!

Very well put, and I agree. Hydro made an excellent point as well with "I do not get why you automatically consider scaling out as taking small profits. How is scaling automatically imply small profits? " Of course after all is said and done we can look back and say if we would have held we...

We are leaving out the most important factor, the risk vs reward. If a six dollar move is a 6r then there is nothing wrong with taking 3r at three dollars.

When I was younger I looked at my losing trades to see what I missed. Now I just look at my winning trades. I re-analyze my system to see if I left too much money on the table and try to make adjustments and backtest.

I will know when it will go down drastically from my own business perspective. Reliance sells a lot of stainless steel. Stainless steel has a base price PLUS a surcharge on Nickel. Nickel is selling more than 6.5 times its normal price. Stainless steel is selling for 2.5 its normal price...

You forgot the most important reason. Google had good earnings, but happy birthday anyway.

What I found interesting listening to the conference call was that the analysts covering the stock suggested they should take the company private because the stock was too cheap for the growth rate and overall performance. Also before the split there were two people pretty high up in the...

You may be right about my optimism, but barring a major market correction I think I can get at least 40.00 out of the stock.

I just want to add one thing about myself. I am a swing trader and a position trader. As a swing trader I may allow that particular swing trade to turn into a position trade but I will scale out doing so I will eliminate most or all of my risk. I also scale out on negative swing trades...

No NO NO NO. Everything is based on probability of expected outcome. When you buy a stock for 20.00 expecting a 3 dollar return you are not likely to wait for that stock to double. It may never double, or it may double in the next six months. I let my free shares ride the wave and I just...

I heard the conference call and it was great. They kept their original guidance which is the "smart thing to do". They are going to lose profit only because of a high lifo charge. All that does is lower their tax burden, nothing else. They will still most likely blow out the numbers in the...

I would do none of the above. I would hold a portion for LONGER than the 6 points depending on the stock and the overall condition of the market, and if it still met my holding criteria. Playing with the houses money is not a crutch. It catches extremely long runs.