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Trying to make it on my own
- Thread starter doublet83
- Start date
I should have said that I am long. Been holding this one for about half a year now..not really betting on this earnings per se..but I do expect something positive.
I know you're kidding, but maybe I should have picked a higher conviction trade to prove myself? haha
I should just throw it out there that I wouldn't take any outside money even if I do happen to make a few calls in the future and get them right, thereby impressing some people. Just too much hassle..
I know you're kidding, but maybe I should have picked a higher conviction trade to prove myself? haha
I should just throw it out there that I wouldn't take any outside money even if I do happen to make a few calls in the future and get them right, thereby impressing some people. Just too much hassle..
Quote from doublet83:
Definitely very weak results, showing I was pretty wrong on this one. I'm out.
Wow what a day.
Its a little embarassing that I make a call, say I am bullish, and the next day the stock goes down 30%+. On the bright side, my next call will almost definitely be better than a -30% return.
Took a 10k hit in the long term strategy on this one..but had an incredible day in the core trading strategy..
Also had some bad luck with the new pairs strategy today, which two of my longs hitting bad earnings. My thinking is that earnings are random events, and just as likely to be positiev or negative; therefore I didn't mind holding the pairs through earnings. May have to change this thinking..
Well it was good you had a few other strategies to hedge if one takes a loss. I've been trying to get good on at least three different ways of trading. One is traditional options spreads, another daytrading futures, and the third intraday single options on stocks using a stock scan for currently moving stocks. I did short puts on stocks for the longest time, but have had too many drawdowns which negated my winners, so am probably dumping that method. I tried a stint at position trading futures which failed miserably ; probably too competitive with too many sudden reversal spikes and stop runs. If one system doesn't work for the next 6 months then switch to one of the others one has been practicing. Weekly options is a new instrument for only a year or so, but too risky for my limited account.
Quote from doublet83:
My biggest position in my long term account, TZOO reports tommorrow morning. Lets see what happens..
Ugly, closed at low of day. How can you be long such a high beta stock going into earnings? Does not lead to longevity - granted TZOO does have a history of positive surprises. May be good for a bounce here.
Quote from cooolweb:
your gambling btw,
-30% on a stock? you could be wiped out on that kind of move with a bigger account filin bankruptcy papers
Holding a diversifed portfoilo of long term holdings does not constitue gambling..
The fact that a stock has the ability to go down 30% in one day on news, does not mean one should not hold any stocks overnight..such a silly implication that I'm not sure why I even bother defending it.
I was actually up substantially yesterday overall, will give overall numbers at a end of the month update.