Stock Trading -or- ReconSWS's Bane

[ReconSWS]

New game plan going forward with the day trading to get my account back into shape for a big yolo

1) play for wins, not for dollar gain. Had I played for wins I coulda doubled that 50 bucks, but I wanted to 10x the gain. realize the mindset and change it.

2) only make plays when 100% focused at a PC and watching the minute chart, and wsb daily discussion thread lol. no absent minded throwing money.

3) make some adjustments to bet sizing

With these strats I can probably get my account back to its former glory hole.

Edit : Or... you know.. just don't buy puts when stonks go up.

[eddie]

Well I got cooked on my NIO put. $900 down the drain. Still have big AMD and NOKIA puts expiring 8/21. Also playing NIO and SNAP calls, so I'll see how that goes next week.

Recon, I really need to do #1 on your list. If I stop risking for huge gains I would be comfortably up for the year even after the Covid crash. Instead, this most recent NIO loss has wiped out 4 really good options I sold. And if AMD doesnt drop off in the next 2 weeks, I'll be even more in the hole...

[gabe]

Something tells me not to bet against AMD....

[desertT1]

I haven’t done options in a few months. My last one was a few calls on GME because I had it sitting around and we were waiting on next gen console info, and the most epic short squeeze ever, which will likely never happen. From a percent standpoint it was actually quite a monster, but from $$$ it was good for a chuckle with my cube mate.

[ReconSWS]

What did I say lul

[ReconSWS]

I pray to god for after hours V shaped recover lmao

ehhh hopin this is a fake out and we pop like 10% tomorrow, the day after, the day after, and then I'll switch to puts. It's quite comical at this point these bad beats, if this happens 13 or 14 more times I might quit.

Edit : Hahaha well 80% of my stack for this month (topped up) is in SPY calls (more ITM ones) which literally just shit the bed but there's still hope... cause the other 20% was in TSLA calls, which just had surprise news of a stock split poof after hours spiked. If this action on TSLA continues, these could be money calls. It appears I also landed on Tsla "Battery Day" which is tomorrow?? This is the most luck I can possibly have news wise on a blind call, so if this doesn't pay I will know for sure that I mustve broken a mirror in the past few years that's still haunting me.

..annnd the news is telling me Russia has a vaccine

8/14 exp on boths

edit : thinking on it deeper now, it would make sense that SPY would take a massive dump before some TSLA pump, shares are expensive... rotation all in to TSLA? one can only cross their fingers hard enough.

[gabe]

Sold some XOM and BA since they were popping this morning and drummed up some cash. On seeing that Tesla was back in a buyable range compared to their $1600 highs a couple weeks ago I pulled the trigger on one share at $1400 and went back in for some more Intel at $48.90/share.

I'm still long term bullish on Intel seeing as they are a money making machine and they are trading at less than 10x earnings so even though they tanked a bit with the rest of tech today not a bad move IMO.

TSLA was a surprise. I honestly just like being "in" with anything papa Elon's involved in regardless of returns but the 5x split was a nice surprise. This is the 2nd one that I've somehow magically caught right before a split announcement and an after hours boom.

Long story short: always go long (no options plz)

[ReconSWS]

Realized half a share worth of tsla gains from 100$ lol well this breaks even my spy junk. Sold tsla calls, hopefully not too early, 750% gain on 1700 8/14s lmao. Too bad I only put 100 in. Anyway, put that all into spy puts why not.

Would be sad if tsla hit 1700 today, but a gains a gain this breaks the losing streak

[Axel]

Would be sad if tsla hit 1700 today, but a gains a gain this breaks the losing streak

There's always going to be a way to hindsight your trades and figure out how you could have gotten more.

I look at it this way; in a given year one stock somewhere in the world outperforms all the others, so that you could have maxed performance by trading just that ticker symbol--but hindsight still doesn't change the fact that on January 1 it would have been incredibly stupid and risky to put all your money in one stock.

The goal is to meet or beat the index. The ones who way outperform are incredibly unlikely to be able to do it again next year

[desertT1]

If future me came back and gave me a 2020 almanac like in Back to the Future I’d call myself a liar.

The sports betting options would suck, but wow the market would be interesting.

[gabe]

The goal is to meet or beat the index. The ones who way outperform are incredibly unlikely to be able to do it again next year

QFT

After doing the dividend investing thing for a minute I can see now that high dividend companies lag the index because they are paying out all their gains. The main thing is to at least perform with the index but to be diversified enough to catch bubbles when earnings pop off or a company does something great that you can cash out on the high and reinvest on the low.

Dividends are great but even at an 8-10% yield you can generally get that in a growth company in a pretty short window. I'm moving to diversify in lower dividend yield companies that have great growth trajectories.

[ReconSWS]

Lol fudge I should held missed 1.5 shares worth of gains. Not mad since I know I have ptsd from rug pulls so holding ain't in my toolkit atm.

But that doesn't mean I'm not butthurt, so I bought the same 100 bed except this time it is tsla 900 puts lol.

[gabe]

But that doesn't mean I'm not butthurt, so I bought the same 100 bed except this time it is tsla 900 puts lol.

Guaranteed to "outperform the market" SMH lol

[russc]

QFT

After doing the dividend investing thing for a minute I can see now that high dividend companies lag the index because they are paying out all their gains. The main thing is to at least perform with the index but to be diversified enough to catch bubbles when earnings pop off or a company does something great that you can cash out on the high and reinvest on the low.

Dividends are great but even at an 8-10% yield you can generally get that in a growth company in a pretty short window. I'm moving to diversify in lower dividend yield companies that have great growth trajectories.

Dividends plus SELLING options, now you're making money.

[ReconSWS]

If the market full on crashes tomorrow for whatever random reason, I will make bank and be known as Nostradamus 2.0 . If it doesn't then I will look stupid lol. Loaded up on OTM trash lotto tickets.