If you use stop losses then you are essentially gambling

[TrailerParkTed]

I guess @Darc resigned from Elite as the new sheriff and went off on stress from this thread’s madness? My guess is he has a new found respect for Lord Dest and Sir Overnight now.

 

[deaddog]

Totally. I have no interest buying up here. You'll know and I'm trading. I won't be posting so much LOL bored

Then according to your thinking you are missing opportunity and losing money every day.

Out of curiosity when did you close your positions and why? I believe that the reason for selling is just as important as the reason for buying.

 

[ironchef]

How did that work for the late 1999 and April 2000 crack of high fliers?


Seriously post these theories on RedditWSBs and I will buy the popcorn!

Too bad no YouTube then or I could be a YouTube star!

From 1998-2000 I was printing money with trading dotcom stocks and I thought I was a trading wizard, fully invested and compounding, didn't take any $ off the table.

Then came 2000. The only stocks I owned not became worthless were MSFT & CSCO. CSCO was the NVDA of 1999-2000.

Still own MSFT, with a cost base of ~$20. But for years made nothing from MSFT. Then after Balmer quit .....

 

[TrailerParkTed]

Too bad no YouTube then or I could be a YouTube star!

From 1998-2000 I was printing money with trading dotcom stocks and I thought I was a trading wizard, fully invested and compounding, didn't take any $ off the table.

Then came 2000. The only stocks I owned not became worthless were MSFT & CSCO. CSCO was the NVDA of 1999-2000.

Still own MSFT, with a cost base of ~$20. But for years made nothing from MSFT. Then after Balmer quit .....

I sold my INTC and MSFT and bought NFLX and ISRG 2002. Averaged up instead of buying dips.

 

[TrailerParkTed]

if you set a stop loss - it will be hit. as a man thinketh...

Those evil Market Makers love cleaning out stops and push the stock up once they tricked us. 1991 Harvey Houtkin and Broadway trading philosophy all over!

 

[wxytrader]

i guess you never bought amc.

What happened to AMC? I was selling puts in it last year I think.

 

[wxytrader]

Then according to your thinking you are missing opportunity and losing money every day.

Out of curiosity when did you close your positions and why? I believe that the reason for selling is just as important as the reason for buying.

I close trades based on ta when I believe the extended wave is exhausted and fibonaccis etc. same reason I buy. I'm either accumulating for distributing and I don't start distributing until I finish accumulating.

 

[deaddog]

Too bad no YouTube then or I could be a YouTube star!

From 1998-2000 I was printing money with trading dotcom stocks and I thought I was a trading wizard, fully invested and compounding, didn't take any $ off the table.

I have the same story although not the same stocks. Nortel. Research in motion.
The tech wreck was the reason I stopped being an investor and became a speculator.
I started using stop losses. In reality they don't stop losses they guarantee them, but you get to control the size.

 

[deaddog]

Well I just closed my Dogecoin trade because the overnight was just going to eat into the profits and turns out it was a good choice cuz it dropped a little bit today. It just isn't performing like it did the last time. Bitcoin was at these levels so no incentive. Anyway, I think I made $350 us whatever total waste of time.

What about your ETFs. When did you close them out?

 

[ironchef]

Avoiding stops and averaging down on AMC and BBBY has resulted in life changing finances for the apes.

I do remember when I was young, I was fearless, master of the universe.