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Discussion in 'College Basketball Board' started by cooljeff, Mar 24, 2020 at 2:55 PM.
probably not a great idea...but here we are
I am several hundred thousand dollars down, so I am out.
On the stock market I am a dumb ass.
only down if you sell...
I was eyeing several stocks. Started to buy yesterday, but thought I'd wait a day or so. They are all up 20-30% today.
That wasn't the bottom, IMO...
that’s okay, I’m buying a house and liquidated a bunch of investments for the down payment. One of them, the biggest, was Stamps.com. Bought it last May or June for $34. It peaked at a little over $90 and I ended up selling it at $80-something the day before they announced their earnings for the quarter. Not bad, right?
In after hours trading, the share price jumped to $130. That went to over $150 during market hours the next day, and topped out at around $184 the day after. It was a sizable chunk of change I missed out on. Was sick to my stomach for a few days.
I agree. I knew it would spike up when they were close to a stimulus deal, but thought I had another day.
Honestly the plan was to buy low, sell during a day like today. Then invest it all back during the next dip and leave it.
Stock market = non-leisure gambling
I’m playing SH puts/calls. Will probably lose it all.
True and I will not. I kept it after 9-11 and in 2008.
I can't do stuff like that Brooky. That trading is like playing poker. I am a good winner and a sore loser. I am not built for it.
I generally set a limit on how much I'm willing to lose on each investment, usually 20% for smaller investments and about 10% for larger ones. If the stock losses that much, I cut my losses and sell. My biggest problem is knowing when to cut and run with my gains.
I purchased a long call option for Uber back around November. The option was worth triple what I'd paid for it by the end of January or early February. I should have sold it and banked the gain. I waited, it dropped a little in the weeks after its peak but was still looking strong, so I held it. Then coronavirus hit and wiped it out almost entirely, practically overnight. To use real dollars for perspective, it went from being worth roughly $9,000 to being worth hundreds (I don't know exactly because I didn't want to look haha). It's a long call, so there's time for it to rebound, but I'd just be hoping to breakeven on it at this point.
There's investing and there's speculating. I kind of blur the lines between the two but try not to do anything too crazy. The key, imo, is knowing what you're okay with losing, pretty much just like when you walk into the casino.
I bought some CCL on Monday with the intentions of making a quick $400 to pay for a glider/rocking chair for the baby (that's how I like to look at profits. Like, it pays for this/it pays for that). I bought in and could not stop refreshing the page for an hour straight. Like it was all I could think about. I ended up selling with a $50 profit. If I had waited like 80 more minutes I would have hit my target. If I had waited until the following day (yesterday) I would have profited 50%.
I'm definitely not made for that game. I like to buy and hold for the long term but I absolutely do not need to be buying for short term flips since it destroys any focus I have on what else I'm doing at that time.
I'm just too ignorant to gamble. They say it's not gambling if you know.
Have any of you noticed that there are some bright folks on this board?
There are some fart smellers on here.....smart fellers.