Discussion in 'Stock Market Forum' started by MDawg, Apr 4, 2020.
Market still good, buying on dips.
All that money rolling in.
Market remains durable. Buy on dips, average in if necessary, a lot of money to be made.
Even on a down day, money is possible.
this was on a major TSLA dip. If I held it longer, it was a fifty grand trade. Yes, TSLA actually went from 1448 to 1558 after I sold at 1458. Still, five grand today, and five grand yesterday,
plus assorted change from AMZN extra shares trades...equals...a good amount.
It's gotten to where I don't want to get out of bed until I've booked at least five grand. But don't let me pat myself on the back too hard or I might fall over.
Here's what will happen to your Tesla stock.
I didn't click on the video, but given that you're negative about most anything, I may only guess its content.
HOWEVER, I've held long term TSLA shares since the 180s. If I thought like you I would have sold at 200. Or 300. Or when it went all the way back to 180s. Or 200. on the second round up. Or 300. on the second round up. Or 400. Or 500. Or 600. Or 700. Or 800. Or 900. Or 1000. I did not. Still holding. Why sell now?
Holding stocks like AAPL, AMZN, TSLA, NFLX, GOOGL, and many many others very long term, through thick and thin has earned me a fortune.
And, I trade extra shares of TSLA and AMZN very profitably regularly using the immense buying power of my accounts, which, again, have gotten there due to long term holds. You can't buy and sell 1000 shares of TSLA and AMZN daily, on top of all the shares I own long term, without having gotten somewhere my boy.
Join the game, and get off the sidelines. The longer you wait, the more you miss out.
The NSDAQ100 will retrace big time, there is no doubt about it, the question is when the rocket will explode. You can stay blind and continue to buy shares on dips, but when the market will recalibrate to its fair value, I hope for you that you won't be averaging down.
My long term shares are my long terms shares. It's a substantial position in the 180s from TSLA, and no, I have not added to TSLA along the way.
Same with my very long term shares of AMZN, GOOGL, NFLX. NFLX for example I hold since 2010, before all those splits! I have added to AAPL along the way though, although my largest AAPL position dates from 2006-2007.
However I day trade extra shares of AMZN, GOOGL, NFLX, also TSLA and CMG sometimes some other stocks, all the time. Not every day, but many days a week. I don't own or trade junk - only industry leaders.
Today for example I day traded TSLA three times,
First, 1507 to 1509
Second, 1481 to 1483
Third, 1463 to 1465
I have not had a losing trade in two years, other than two shorts I entered where I pulled the plug when that particular stock ran against me. Ironically, on both losing shorts in one if I had just held a few hours more, in the other until the next day, I would have won far more than I lost.
Typically I try to book five grand per trade but today the market is iffy so I am just taking two points, scalping $1000. per trade, and moving on. But as far as averaging down YES, if I get stuck in a losing DAY trade I WILL average in more shares...I do that ALL the time, successfully. I used to buy the TSLA for the day trades in 1000 share chunks but it has gotten so expensive now I do it in 500 - 700 share chunks. I'll average in up to five more chunks if necessary, but I've never had to go that deep...the most I have ever had to average in on a trade is a total of three chunks before I have turned a profit. And I am talking about THOUSANDS of trades per year, with only two losers in the past two years.
I mean come on, this is an 11 year bull run. No stock I trade has failed to eventually hit a new all time high. How could I have lost? There were a few times, early 2016, and end of 2018, for example, where I had to hold a losing trade for a long time...weeks...but it always came back,
Today is going to be a little more difficult and I generally am an early morning trader only, before the stock has lost its "elasticity" (rebound). By later in the day if the stock takes a big dip, lack of time and elasticity might work against you, and leave you stuck holding an intended day trade overnight. However, sometimes these trades you hold overnight in a temporarily losing position end up being the biggest winners as the stock roars back big on another day.
Another thing to keep in mind...as Jesse Livermore used to say...is that the time to buy is when the price is right. This does not mean that you put some artificially low price and figure that this is the best entry for the stock. Before I entered this first TSLA trade at 1507, 1511 was actually a much better entry because at that point when it hit 1511 it jumped straight back to 1521 in seconds.
By the same token, 1495 might be a great entry early in the day and later in the day 1475 might be a terrible entry. Just depends on the stock's action at the time.
Figure that before the Crash of 1929, GM closed on Sept. 3, 1929, with a share price of $89.85 Any price below that was a great price during that bull run. In 1932, no one wanted to touch GM at even 20 dollars, as it was running around 16.
Similarly, saying "I won't touch TSLA around 600 or 800" when it was on its way up to 1800, was wrong. The time to buy is when the price is right. The dollar figure means little compared to the entry point in time.
You may see part of the thought process above. I am constantly entering orders at a certain price and then cancelling them as I decide, nah, that's not the right entry, let's go here. The ongoing life of a successful trader.
Today I did not need to average in as the entry price worked fine. If anything, on each of these trades I could have made a lot more holding a bit longer. But when the market is iffy like today, I tend to just play it safe and scalp.
Yesterday and the day before TSLA was moving more solidly, and I was booking 10 pts ($5000.) per trade.
And again, we're talking TRADES. My long terms, I don't touch. Apples and Oranges.
If anything, I typically sell myself short on my trades. Notice that I had TSLA at 1463. Practically the low for the day. I catch the low or close to the low for the day ALL the time. But I let it go quickly, just a couple points, made a grand. I am not greedy which is perhaps why I have made money on almost all my trades. And in the meantime, my long terms march onwards, inexorably.
I was so busy with TSLA I didn't get a chance to trade AMZN when it was down almost a hundred and fifty. That was another great opportunity. I had the order in to buy at 2975 lol but I cancelled it because at that time I was in one of the TSLA trades and there was too much going on.
I make more money (trading wise) on days when the market is crashing, than when it is going straight up. And I almost never short, mostly buy on dips.
As you know, rarely does a stock go straight up. I buy, it drops even lower, it jumps much higher. For stocks to go up we must shake shares loose from weak hands for the rest of us to profit.
Also as you know, rarely does a stock go straight down. Buying on dips is not dead! (Never died.)
I still see TSLA hitting 2000 eventually. I will not sell my long term shares.
If you buy and hold, OR trade industry leaders that keep hitting all time highs, and you have the buying power to average in AND hold, you will not lose money.
Clipped an easy six grand off TSLA
after kicking myself for missing that first monster run at the open from 1471 to 1518 or so.
AMZN in the low 2930s is good too for a long trade.
Get ready to rumble!
NFLX didn't do well but I did a quick trade in the AH 455 to 475 was nice.
NFLX will probably recover my long term shares date back so far on this one, that today is just a blip anyway.
TSLA ROARS. Pushing 1700 in the AH.
You want to be right, or you want to be rich? Of course some of us are able to be...both.
Time to celebrate is the day when the masks come off .
T%ESLA is currently in the process of building a plant near Berlin , Germany.
TSLA all over the place today.
My long term shares are at this point a nine + bagger and if I sell any it'll create a tax situation. Nothing wrong with paying tax, but paying tax just to try to buy back lower (and maybe it'll go back up and force me to buy back higher!) isn't what I want to think about or deal with at this point. So I will keep holding my long term TSLA shares.
As far as TSLA extra trading shares, I buy and sell those all the time, as you may have noticed. In fact I sold some last night at 1685, not the high in the AH, but a good price considering that TSLA was all over the place 1690 back down to 1610s then back up to about 1720 I think I noticed was the high. I bought back the same trading shares I sold at 1685, at 1645 an hour or two later.
Then today I sold those shares at 1675, for 30 pts., then it went up another ten or twenty from there and slowly collapsed. I did another trade from 1575 to 1580 but it first went much lower. I had the sell order initially at 1585, which I should have maintained, but it dropped so low I decided to lower it.
I think it'll stabilize and go up during the rest of the week after the selling traders clear out.
I mean look...I had 500 shares at 1675, and I let it go for a mere $2500. profit. At this moment TSLA is back to 1610.
TSLA all over the place though.
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