Economy stock talk v7, meme stocks go up

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brackis1 said:
I have no idea what that stock is doing, but based on your frantic reactions I would suggest not playing stocks like this in the future where you buy stuff after it's run up already on good news. Be more at peace with leaving alone things that made people money unless you have a strong valuation case for continuing higher.
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Biotech a bit more volatile, no?
 
BIKES! said:
Biotech a bit more volatile, no?
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I mean you're really just picking the stock with the most variables. Not only is biotech absurdly hard to figure out stock moves on because the financing is so weird, but add on the fad stock covid aspect and you've basically gone from being in the audience to trying to juggle on a trapeze on top of a elephant in the center of a circus.
 
blaseblah said:
How much money are you guys making off of day trading?
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If you're asking this question I'm just gonna say: don't do it and just pick some company you think will have a higher value in the future and let it ride.

% return is all that matters, not the $ amount.
To buy and sell same day requires a minimum of 25k in funds in the account
 
blaseblah said:
How much money are you guys making off of day trading?
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brackis1 said:
If you're asking this question I'm just gonna say: don't do it and just pick some company you think will have a higher value in the future and let it ride.

% return is all that matters, not the $ amount.
To buy and sell same day requires a minimum of 25k in funds in the account
Click to expand...


I'm interested as well. I have no problem sharing my info its neither impressive or sad. I have 60k invested at the moment...i made some nice gains buying at the March lows and holding but i sold everything off way too soon...almost 2 weeks ago so I've missed out on alot of gains.
I transitioned to day/ swing trading and so far it's going ok. Honestly i would have made ALOT more money if i sold each day just before open. There were so many days that were up 2% at 915 only to end the day on a short loss. I'm sure that's a product of this unique market we're in but i guess knowing the market and responding accordingly is the game.

I'm probably up 200 bucks a day on average but it coulda been more like 400. This is the proof of concept phase for me. If i can prove to be profitable than there's no reason i can't do it with alot more money as it becomes available to me. If i could make .5-1% a day on several hundred thousand then that's alot of $. I'm still looking for deals on stocks to hold and hoping for a crash but i think that's off the table.
 
rob mafia said:
i make about $1.34 per day. maybe $2 on a good day.
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Yikes. Why not just take this guy's advice?

brackis1 said:
If you're asking this question I'm just gonna say: don't do it and just pick some company you think will have a higher value in the future and let it ride.

% return is all that matters, not the $ amount.
To buy and sell same day requires a minimum of 25k in funds in the account
Click to expand...

That's what I've been doing. I bought low when everything sank but all the discussion here has me wondering if I should be more active.
 
Just watched some talking heads on the old TV and a couple of interesting things I beleive
1. equity markets will keep recouvering until QE lessens, then we will see another rcorrection, so the next 2 years should be okay in the markets
2. try to move away from passive investing (which is like 80%) of my US investing, b/c certain sectors will take a lot longer to come back
3. companies like grocery stores, that are booming now, will take a hit as society opens up. In a lot of ways, they are the oly game in town. People are spending extra on stuff they normally wouldn't b/c they got nothing else to blow their cash on, like movies and travel.
 
kahiljabroni said:
I'm interested as well. I have no problem sharing my info its neither impressive or sad. I have 60k invested at the moment...i made some nice gains buying at the March lows and holding but i sold everything off way too soon...almost 2 weeks ago so I've missed out on alot of gains.
I transitioned to day/ swing trading and so far it's going ok. Honestly i would have made ALOT more money if i sold each day just before open. There were so many days that were up 2% at 915 only to end the day on a short loss. I'm sure that's a product of this unique market we're in but i guess knowing the market and responding accordingly is the game.

I'm probably up 200 bucks a day on average but it coulda been more like 400. This is the proof of concept phase for me. If i can prove to be profitable than there's no reason i can't do it with alot more money as it becomes available to me. If i could make .5-1% a day on several hundred thousand then that's alot of $. I'm still looking for deals on stocks to hold and hoping for a crash but i think that's off the table.
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Last year I was about flat depending if you count deductions I qualify for. This year I'm up 30%ish YTD (a pretty insane run considering I was DOWN 10% when a stock I owned went bankrupt suddenly).
Year before that I was up 15%.
These returns only make it worth doing if:
-You're playing with enough $ to make X% enough to pay bills without eating into capital investment
-Just enjoy the activity and aren't letting it eat into your life.
 
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blaseblah said:
Yikes. Why not just take this guy's advice?



That's what I've been doing. I bought low when everything sank but all the discussion here has me wondering if I should be more active.
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Don't unless you're doing it for fun and do it regularly.
It's like playing golf: very hard for most if you don't play all the time, overthinking is the devil, but for some folks it's an ongoing activity that yields benefits.
 
brackis1 said:
Last year I was about flat depending if you count deductions I qualify for. This year I'm up 30%ish YTD (a pretty insane run considering I was DOWN 10% when a stock I owned went bankrupt suddenly).
Year before that I was up 15%.
These returns only make it worth doing if:
-You're playing with enough $ to make X% enough to pay bills without eating into capital investment
-Just enjoy the activity and aren't letting it eat into your life.
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Nice returns, good for you. Wife and i also work full time so this is just a side hustle. Getting to a point where i wouldn't have to work would be awesome but very unrealistic for me.
 
kahiljabroni said:
Nice returns, good for you. Wife and i also work full time so this is just a side hustle. Getting to a point where i wouldn't have to work would be awesome but very unrealistic for me.
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I mean it feels fucking retarded any day you lose money and I live a playboy peter pan life that doesn't afford me a lot of things other people value, especially those with families and a longterm trade/job.
 
brackis1 said:
I mean it feels fucking retarded any day you lose money and I live a playboy peter pan life that doesn't afford me a lot of things other people value, especially those with families and a longterm trade/job.
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I used to play poker as a job through college so i know the feeling of going to "work" hours on end and losing money.
 
kahiljabroni said:
I'm interested as well. I have no problem sharing my info its neither impressive or sad. I have 60k invested at the moment...i made some nice gains buying at the March lows and holding but i sold everything off way too soon...almost 2 weeks ago so I've missed out on alot of gains.
I transitioned to day/ swing trading and so far it's going ok. Honestly i would have made ALOT more money if i sold each day just before open. There were so many days that were up 2% at 915 only to end the day on a short loss. I'm sure that's a product of this unique market we're in but i guess knowing the market and responding accordingly is the game.

I'm probably up 200 bucks a day on average but it coulda been more like 400. This is the proof of concept phase for me. If i can prove to be profitable than there's no reason i can't do it with alot more money as it becomes available to me. If i could make .5-1% a day on several hundred thousand then that's alot of $. I'm still looking for deals on stocks to hold and hoping for a crash but i think that's off the table.
Click to expand...

I used to sell for profit but learned that it can be draining to keep an eye on the market 24/7 .

Now I just keep adding to the stocks I have for the dividends. Just going to keep adding until retirement.
 
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