The friend who led me down the TESLA path late 2019 recently started trading now that he is retired (he had been an investor since 2017). Not a risk taker, he buys 1k shares at a time and sells as soon as TSLA goes up $1 or drops $0.10. That's his risk tolerance. Most days he is up $1k, giddy as a kid who stole a cookie from the jar. Trading doesn't have to be more complicated than that.Story of my life Vic. You'd be surprised how many wrong paths I've ended up on. It's why I rely so heavily on price to tell me the story. It's got so you can't trust anyone.
T >V< ESLA - V Recovery
- Thread starter Nobert
- Start date
Just one trade or does he re-enter the same day if he gets stopped out. How did he make out in Dec?
I'll have to ask him for his Dec result, but I'm pretty sure he doesn't reenter when he gets stopped out. He hates the stress so doesn't do this every day. Checks on TSLA at open and gets in if it looks like an up day. Tesla goes up/down several dollars an hour and he usually is in and out in a matter of minutes.
Spoke to my friend and since December '22 he's only traded about 15x so too little to be meaningful, but he says he's at 100% win although it's sometimes for as little as $40 on a 100 shares trade, enough for coffee and lunch at the local deli. Again he's a long term TSLA investor recently retired and trading is his occasional adrenaline rush. Again nothing meaningful, but it's entirely possible to have high rate of winning trades if there is absolutely no pressure to trade and simply get in when the probability of the shares going up is high. Add volatility and significant trade size and you're good for a few lunches and occasional fancy dinners.
Not sure whether to be impressed or sceptical. I'll lean towards impresssed.
15 trades with a 10 cent stop on a stock with a 9 to 10 dollar ATR is very impressive.
Your first post was on trading 1000 shares and now you mention 100 shares. Are you sure the guy is not BSing you just a little bit?
Yes, he likes to fluff things up for emphasis although I'm a firm believer that within reason size shouldn't influence the act of buying and selling. The same logic and commitment applies to 10, 100 or 1000 shares.
No doubt but the difference between making a grand a day compared to a hundred worth: bragging rights. I question the 10 cent stop on a hundred dollar stock.
Good point, he confirmed to not have stops and simply follows the trend and sells as soon as he's made a buck or less. Frankly, none of this matters, it's all pure luck than will fail as soon as he starts trading more regularly.