That sounds like extra good luck, not naivety.I call it falling backwards into profits I call it
The stock was about $5. I averaged down as the price dropped until I had about 15k shares. A couple weeks later I woke up to a 70k profit because of a poison pill hostile take over
I was thinking that the actual company would rebound and return to its highs someday...was not expecting a buyout...didn't even really understand the game back then...or the risks.
In my naivety I literally outsmarted a billion dollar company. This is why I say, sometimes you can be too smart to make money in stocks. You can beat professionals by sheer stupidity...its the only game in town where that's possible.
I told you guys...closing positions for a loss is for fools.
- Thread starter wxytrader
- Start date
I would rather be lucky than be good.
Did you fat finger NVDA on Friday?I call it falling backwards into profits I call it
The stock was about $5. I averaged down as the price dropped until I had about 15k shares. My rationale was that the company would rebound and return to its highs someday. A couple weeks later I woke up to a 70k profit because of a hostile take over
I was so dumb, that I was almost disappointed that I didn't get to ride the stock back up to its highs lol.
This is why I say, sometimes you can be too smart to make money in stocks.
Not sure what TA the buyer is going on, but I might load up on MAR15 850/845 puts tomorrow.
Source???
Think he was just saying that if somebody bought 780 million then somebody had to sell 780 million but the 780 million sold was probably spread out over multiple sellers obviously.
maxinger
LOL where did you read it? Can't you cite the source?
Okay