So Who is Betting on TSLA Monday Morning?
- Thread starter GrowleyMonster
- Start date
Meh. Stopped out, -$100. TQQQ looked like it was gonna rally a bit. Stopped out on that for -$20. Deal me out. Live and trade another day. Friday evening I stood at $8108. Yesterday afternoon I cleared the table and had $8218 to show for it. Last night I ended up at $8078 and this morning $8089. Not a total disaster but it really messed with my average daily P&L. So, bad idea but it coulda been a good one.
Risk, not wealth.
Of course this is Monday Morning Quarterbacking and all but what you should have considered doing was wait till just before the close. With the way things were selling off hard, a likely much lower buy point would be available - and turns out it most definitely was. Then sell after today's open but before the morning retracement.
That is a very good shoulda and of course you are right, but I was thinking the opposite at the time, that it would probably go up just before market close due to Millenial FOMO, and that in the morning it would retrace and then go up up up. I was wrong on both counts. I only had one day trade available so I was wanting to sell for all the profit I could get out of it, and not sell for a little something, watch it drop, then climb, and wish I had bought the dip, and I definitely did not want to hold TSLA and not be able to sell it instantly if it turned sour. I did have some logic built into my trade decisions but it just didn't work out that way. And if the price wasn't so shakey I would have stopped out a little sooner, maybe. I didn't want to set too shallow a stop. I have made that error way too many times. And I should have stayed out of the market afterwards and not used my one day trade on TQQQ. I could have waited another bar or two and made sure I was buying the dip. Then it kept going down and it looked like a trend that started at around 0805 in the premarket. The market was kinda spooky and I let it get to me. If I had bought at the true dip I would have made an easy 3% on the trade, with a triple dip play. Well I botched that trade too, and used my day trade. That's okay. I think I will let the market settle a few days and accumulate three day trades, and then look for some good pattern plays.
I really thought after the RobinHooders shook off all the WTF-was-that, that they would drive TSLA price up again and that the algo guys would help, then sell and leave the TSLA fanboys holding the bag. I really thought it might go to 1800 or at least touch 1700. Luckily I REALLY wanted to stay in the black so I didn't let it fall any further on me than it did. I only just put this account in play a few weeks ago and I really want to grow it, not blow it. Neither my better mind nor my better half will stand for me blowing up this account even though it is really small compared to what I was trading with for much of last year. Getting her total agreement for me to add money to the trading account is a longer shot than winning the powerball.
Try Moderna. I hear good things about them, heh.
Yeah I know, right? Showed up on my scanner yesterday. Nice flagpole today in the post market... about 15% there in 15 minutes? Woulda been nice to have had some shares of that in the bag.
I think his real question was: is your wife singing?
Well I thought I had it figured out but apparently not. Yeah the NASDAQ certainly looked like it was locked into sort of a pattern. I think it is going to be very chaotic the next few days, though. All the widdle babies running around crying about how the bigger kids took all their marbles, and guys who bet out with all their savings and as much margin as they could get and making big losses, guys entering the market because they know somebody who make a couple thou in a day or two, guys selling off "before it's too late", the black boxes feeding on the chaos and creating more of it, market halts and restarts, goofy news from the govt and our dearly beloved POTUS, the media hyping both positive and negative, activists demanding heads and blood and new rules, and lets not forget this stoopid pandemic and being overdue for a major crash while the bubble keeps getting wider and wider.