Stock Market

boatman37

So this has been a very tough week in the market. We are inside month and inside week on the major indices and that always results in choppy price action. That said, I have had 5 or 6 green days in a row but today got me. Went to the well one too many times...lol. Still green on the week but barely. Gave away pretty much all of my profits for the week today. I was up about $300 after yesterday but now only up about $30...lol.

I bought TWTR calls the other day on a monthly reversal and it has a $5 gap to fill to $63. Hoping it continues. I'm up about 20% on those so far. Hit CRM calls for 50% the other morning in about 7 minutes. Credit goes to Rob Smith for teaching me The Strat. Learned from a bunch of others along the way too but Rob was the game changer for me.

Handymans342

My Broker told me 5 min ago to pick up a Chip ETF 

boatman37

Another red day for me but it was my fault. I have a few longer term holds that were all red this morning and I don't like having a red day so I forced a couple of trades early. One of my 'loose' rules is no trading before 10:00AM. Well I got in TSLA at about 9:35 and let my stop get too far away so started out -$200. Got a little back from TSLA later and ended the day -$115 and $80 of that was from my longer term holds. On top of that I had no business even trading with everything going on with my job. Thinking a couple of guys on my team will be in the unemployment line soon so I was on calls with my manager and other team members all day gathering data.

randy56

Strong hands, today did nothing.

boatman37

Oh, the guy that runs the Discord room called out AMZN long right after the open. I looked at getting in but the spreads on the calls were about $200 and I try to avoid those so I didn't get in. I think they were about $1400 on the bid and $1600 on the ask. Anyway, he made about $12,000 on it in about 15 minutes. His system is he only buys 1 contract to start then when the next 5 minute candle breaks above the previous one he buys 5 more contracts. No idea how many he ended up with or how much he had in the trade. He did say at one point he was up 50%. I'm too chicken for that still...lol. He did say a year ago when he started trading he didn't even have enough money to spend on subscriptions to trading rooms. About 2 weeks ago he left a $950 tip for the waitress and heard a few weeks earlier he left another big tip for one. He showed the receipt from the $950 one. He is the exception though. Most people take longer to pick this up. But he said he spent about 16 hours a day for 6 months studying this stuff.

halifax212

So I bought a couple of grand worth of a bitcoin ETF around Mid may and its down 47% , probably 50 today. My special buying skills are right on the money....buy at the highest point ever and watch it die. Don't know if I should take my $1000 loss or ride it out for a while. 

randy56

I do not own any but if I did I would stay a couple years,

New York (CNN)Bitcoin rose Monday after Ricardo Salinas Pliego, the owner of Mexico's Banco Azteca, said he was pushing his country to accept the cryptocurrency and encouraged his Twitter followers to buy it.

"Me and my bank are working to be the first bank in Mexico to accept #Bitcoin," he tweeted Sunday.

boatman37

My opinion only...if you can afford to lose that $1000 then let it sit. I don't have that much in it and sold enough to get my initial investment back so what I have now is all free from profits but I plan on letting it ride. Lots are saying it will go to $100,000. I'm not one to base my trading on hopes, dreams and wishes but I'm willing to lose that whole investment trying.

MarkB

halifax212 said:

So I bought a couple of grand worth of a bitcoin ETF around Mid may and its down 47% , probably 50 today. My special buying skills are right on the money....buy at the highest point ever and watch it die. Don't know if I should take my $1000 loss or ride it out for a while. 

I do a lot of TA on crypto, and communicate with a lot of traders. There's a group that thinks BTC is going to $20k.  There's another group (that I'm in) that thinks BTC is going to sub-$50k .... then needs to decide if we are making a new all time high, or crashing to $20k.

boatman37

I use thinkorswim for my daytading and they don't support crypto so you can't view any charts in it and I use coinbase for my crypto and they don't have decent charts so I don't really follow it. Just dumped a little in and letting it ride

Dream_Inn

Taking a little beating today for sure!  I figure I might as well buy more while it's down.  It'll make me feel better when it goes back up that I bought and didn't panic.  It's days like this I'm at least glad I had some to add.

Michael T

Yes, @Dream_Inn you should be able to make gains on an 800 point slide. It will come back for sure...too much pent-up money on the sidelines. If it drops another 200 points I'll be in too.

randy56

Down $210 by the end of the day, but down 4k in the last 10 days. You can stop the correction anytime now. 

boatman37

Made money in both accounts today trading puts. Not much and nothing to brag about but it's easier to make money when it drops than when it's going up. Could have made a bunch more but I have been so busy at work I didn't even open my trading platform today. Traded from my phone today so just took small wins. The last week or so we had been seeing alot of chop cause we were at exhaustion risk. It's also the start of earnings season, which creates it's own issues with trading. I bought SPY puts in one account and set a trailing stop and got stopped out at only a %46 win...lol. Then it continued to drop so could have made a whole bunch more. Not sure we are done selling off. Futures are up right now but could be what is called a dead cat bounce.

I started buying common stock in my IRA. I had been trading options out of it too but found it was too hard to actively manage both accounts while working so started buying a few shares here and there. So far have CAT, NVDA and TSLA. Also bought into a mutual fund. Can't remember which one but so far just dipping my toes. NVDA has a 4:1 split tomorrow so price will go from about $750/share to about $187/share. But if you had 20 shares you will now have 80 shares. So if you are holding NVDA don't be shocked tomorrow when you look at your account...lol. This is generally seen as bullish. Companies conduct a split when price gets too high so they are more affordable. Last time TSLA split I think it was 7:1. Price was around $1000 and dropped to about $140 then shot right back up. Might be wrong on the dollar amounts but you see what it did. 

randy56

In the last couple weeks sold 8 stocks that were not going anywhere. at break even. bought HOOD @ $35 and COIN at 239. I'm up on those two fairly good. Buying at open Friday Aug 6 HIMX. Take a long look at that one. 

212rowboat

@J3ff- uh, cupping is almost always caused by faulty suspension components... things like bad shocks, bad ball joints, bad wheel bearings... 

Go ahead and put new tires on it if you want.... and change them again in 12k miles.  The fault of the cupping is mechanical, and that mechanical is warranty covered on a vehicle with only 12k miles, and the consumable that vehicle ate as a result of the fault should be covered too... 

Keep that print out.  That is them admitting unwittingly something they can't walk back.  You have them nailed cold and they were dumb enough to give it to you. 

J3ff

Thanks 212, didn't see that. I'll be in touch with them about it !! 

In other news. 

GME IS BACK!!

boatman37

I bought Cardano (ADA) crypto a few months back at 1.24. Sold about 1/2 the other day at 2.80. Sold some of my BTC a few weeks back too so got my original investment plus a little back so it's all free from here. Will buy dips along the way.

I haven't had much time to do much trading lately due to work. Actually signed up for a trading bot for forex so it automatically trades for you. Guys said they have doubled their money in a month. I only put about $290 in it and I'm at $302 after 1 week...lol

Dream_Inn

Lately I've just been adding to my positions on some of the dips.  Most of last week really sucked for me, but since last Friday it's about back now to where I started a week ago.  I'm glad I made sure I bought some steady dividend stocks at the beginning of the year.  I'm up 18% on those and on top of that another 3-4% on divi this year so far.

J3ff

boatman37 said:

I bought Cardano (ADA) crypto a few months back at 1.24. Sold about 1/2 the other day at 2.80. Sold some of my BTC a few weeks back too so got my original investment plus a little back so it's all free from here. Will buy dips along the way.

I haven't had much time to do much trading lately due to work. Actually signed up for a trading bot for forex so it automatically trades for you. Guys said they have doubled their money in a month. I only put about $290 in it and I'm at $302 after 1 week...lol

Alright, trading bot sounds awesome. I was just thinking about that last night on the way home... I'm in! Was it easy? Have any signup link? 

maxwell

you guys are brave..hard assets anyone?

randy56

Last week was mean, this week it seem's to be coming back. Looking at GRWG

boatman37

@J3ff...oddly i stumbled across this discord channel somehow a few weeks ago and joined in a few days. They kept talking about this crypto/forex bot so i asked about it. Most of them there said they doubled their money in a month but not sure which are manually trading them and which were letting the bots do it. So I figured I'd throw $300 in it. They suggested a minimum of $250 for forex and I figured there'd be fees. So here is the fishy part...lol. You have to buy $300 in bitcoin from anywhere. Then I opened an account with Hugos Way then transferred the bitcoin to Hugos Way to fund the account then create an account with Social Trader then link the bots. Social Trader is the middleman. They get the signals from the Discord channel then relay it to Hugos Way...lol. I was skeptical but figured it was only $300 and many others had done the same thing with no complaints. So the other day they decided to stop offering the bots but have grandfathered those that were already in it. They said the reason why is that too many were over-leveraging their accounts and losing it all. I knew nothing about trading forex but they said to set lot size at .01 for about every $300 you have. Some went in real aggressive and the broker automatically closed their positions when they were down a little. Anyway, I guess there are other bots out there but I'm not familiar with them. As far as Social Trader ($20/month) and the Discord channel ($70/month) we will see if it's worth it. But if you sign up with HugosWay there is a tab at the bottom that has a list of available bots and results. Not sure if they are all automated or just that you can just follow their alerts. I may go that route instead and cancel the $70 Discord. It won't get me rich but if I can make $50/month and not lift a finger I'll give it a go.

Here are a few screenshots. The 2nd one shows the ones you can follow with results and on the right shows how much per month to get their alerts

boatman37

Oh...and Hugos Way has a free demo account but not sure if you can see the alerts available with that but think you should. Find one that offers auto-trading and give it a try. The Discord I'm in says they are going to start offering bots for stocks and options but i'm not interested in that. I don't personally like their trading style but like I said, I can make money without lifting a finger. They let their trades go too far against them for me and will average down if it goes against them. My theory is if you need to average down then it was a bad trade so why throw more money at it? Get out and take the small loss and move on. So I won't let them mess with options for me. I'll do that myself

J3ff

Wow, thanks boatman, going to re-read your posts in the morning when not tired from the day!! Will break it into steps, you're awesome

boatman37

No problem. With only $300 in there I'm not expecting much but if it goes well I may add more

Michael T

Don't any of you guys buy ETFs?

Dream_Inn

Michael T said:

Don't any of you guys buy ETFs?

Sure, but they're not as fun to talk about.😁

Michael T

@Dream_Inn...quite true but for example DVY went from $66/share to S120/share in about 16 months......plus it pays a very reasonable dividend. 

boatman37

I sometimes trade options on SPY, QQQ, and IWM. What I don't like about them is they are too slow moving in general but even moreso they are more affected by news. You can get bad news and some individual stocks will drop a little but the SPY, QQQ and IWM drop faster and quicker. Nothing wrong with trading them but easier for me to make money on the individual tickers. I am planning to add SPY and QQQ shares in my IRA though as soon as we get some pullback.

This morning I scalped NFLX calls shortly after the open (9:36AM EST actually) and out at 9:37AM. Nice thing was the ask was about 3.75 ($375) when I hit the Join the Ask button but I caught a spike and actually sold for 4.74. That's how fast they move on expiration day at  the open. Then I tried scalping TSLA calls and stopped out and lost 1/2 of what I made on NFLX...ugh. So scalped TSLA about 4 more times to get that money back...lol