If you use stop losses then you are essentially gambling

[ironchef]

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.

I was fearless, no stops, kept wishing for a miracle, rode them all the way to zero.

I still have that tendency, that is why I trade options, losses capped, still ride them to the end but now very selective.

 

[wxytrader]

I was fearless, no stops, kept wishing for a miracle, rode them all the way to zero.

I still have that tendency, that is why I trade options, losses capped, still ride them to the end but now very selective.

There is no zero unless you're trading single stocks. Also, if you're playing with stocks under $5 or whatever averaging down there is risk of a reverse split, which will undo everything you've tried to do by accumulating.

Reverse splits are basically just a way to screw retail out of their shares when a stock is bottoming.

 

[SunTrader]

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

Famous Yogi Berra-ism

No one goes there anymore, its too crowded.

Notfamous wxy

No interest buying, the market keeps going higher.

lol

 

[comagnum]

Here's some food for thought: a quote from a Japanese retail trader that turned a small acct into $300M.

"There is no trade more beautiful than a well placed stop loss." CIS

 

[paladinhgwt]

That is very eye opening

View attachment 334016

Exit here.

 

[ironchef]

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

You were smarter.

 

[ironchef]

Here's some food for thought: a quote from a Japanese retail trader that turned a small acct into $300M.

"There is no trade more beautiful than a well placed stop loss." CIS

You going to tell wxy? One small stop for CIS, one giant leap for wxy.

 

[semperfrosty]

Here's some food for thought: a quote from a Japanese retail trader that turned a small acct into $300M.

"There is no trade more beautiful than a well placed stop loss." CIS

Hard to argue with CIS.

 

[eleanorK80]

Using stop losses is not gambling; it's a risk management strategy. It helps protect your capital by setting a limit on potential losses

 

[TrailerParkTed]

Hard to argue with CIS.

That’s wisdom! On Thursday I carried over a couple of SMCI calls I paid almost $3000
each on Thursdays, I sold the first few minutes and got +- $10,000 and they fell to $0, no stop to save them. Both the angel and demon inside said “Get the hell out of the way” Stops work!

Edited: $3000, not $30