Still think TITNC3: Return of the Iceberg was peak

For sure but a lot of people don’t like posting their portfolio or positions personally I really could care less. Mosty GME- 21 shares. Then 15 shares RBLX, and 10 shares of Ford cause it’s cheap and I think it will be a good long hold. I also got some really cheap options today expiring tomorrow- NIO 46.5 strike 8 contracts up 77%, AAL $22.34 strike 2 contracts up 15% NIO $55 strike expiry 3/19 4 contracts up 30%. Failed options expiring worthless tomorrow (most likely) on tesla 1160 call (10 contracts for $50 aka lotto ticket), and CCIV $95 I got for basically nothing weeks ago. Then 1 760 strike GME and 5 800 expiry tomorrow- those are the real lotto tickets.

Just checked my monthly im up 165%. I’m never going back to boomer blue chips except my ROTH

 

Nice, I don’t post specific stuff, but doesn’t bother me either way. I’ll happily tell when I buy something stupid or sell too early. Your weekly gains are pretty nice compared to the total. Was better yesterday at one point though, and maybe even better tomorrow

 

We need another big AH day. It broke down the big walls so that she could run free after opening bell earlier this week. Looks like it’s trending in that direction, we’ll see though. Nothing like waking up at 3AM to see giant gains while the hedgies can’t manipulate anything.

 

I want to know about that palantir news!!!!

Shares and calls!

 

Anyone in here follow Mtm_trader on reddit? He’s pretty legit, he focuses more on penny stocks. But he posts a morning review before open of his big movers of the day... some of his recent stock picks have been up 1000%, and usually they are around 100-350%. I followed him for the beginning of covid trying to pick good biotech stocks while doing my own research/DD and hit pretty damn big with CODX when it was pennies on the dollar. Check him out especially if you’re new to the market and want to learn without risking hundreds of dollars.

 

I would say it's mostly you don't want to offend or discourage anyone...I'm mid 40's and pay my bills on time...and persistent investing and a lot of diligence paid off this year..
So I might throw $2K at a $GME call and then tomorrow write "Oh well...2K gone.."
It's not like I don't CARE about that loss...believe me, I do...It's more that I budgeted to lose that money...
I will tell you that right now I have 5x what I had in November because of some AMAZING plays and Luck...at one point it was close to 8x...
On Jan 13 I sold 10,000 shares of $ZOM at $1 a share (Cost of $0.14 a share) I told myself that I HAVE to take some profits...
I then said...wow..$10K...let's do something silly
So on 1/14 $GME broke $30 and tapped $35 and then came back to like $31 and I said..."I'll buy THREE of those $40 calls for 3/19/21 for a whopping $700 EACH..." Now without those gains from the $ZOM pop I'm probably not making a gamble like that...
That gamble resulted in selling calls, buying more, exercising calls, selling shares...and over that magical 4 days I'd turned that $2100 into about $60,000....
I used that $60,000 to finance a bunch of other stuff that also worked out well (bear market luck) options etc and that's where I am now...Still making some silly gambles, but ALSO being sure to buy solid stuff.
I'm still sitting on 12,200 shares of $ZOM hoping for that pop to $3-4 to sell a few thousand more shares...
and then if $CTXR can go to $3 or $4 I've got 3,400 of that...
I have some pretty decent gambles that could pay off big over then next 1-2 months...
Between 1/14 and 1/31 I BOUGHT over $50,000 worth of stuff...and that was right before this bull run.
I can't believe how true the "You need money to make money" statement is...
And this is all in my "For fun" account I started with a few thousand over the years just to see what I can do. I still have my 401K and now thanks to January I fully funded 2 years of IRA.

Stack on top of that my $GME chances...and that's why tomorrow at 4pm I'll kiss that $2K I paid for that call goodbye and start shopping for the next one...

 

That's the real truth. Turning $1,000 into $1,000,000 is incredibly difficult. Turning $1,000,000 into $2,000,000 is just an inevitability.

 

Twitter or Reddit?

 

Hmm... 50 $GME shares @$20 each...Go to $20,000 a share...EASY money

 

Props to both of ya. I made 10k from when I was 7 to 10 yrs old through buying stocks I like with birthday and Christmas money - marvel comics, pixr, IBM, and a few others. It feels good to be back. Not stopping till I can turn this into something really big but of course the market can be a cold bitch. I really want to hit 25k so I can start day trading.

I follow him through reddit but hes on twitter too. @mtm_trader

 

This is nice...That and getting options approval...On a day like today if you were confident in a GREEN all over...$SPY opens at $390 and you buy the $393 call for $100....and cash it out at $160...Nice $60
And then you get some more $$$ in your bag and you buy 10 of those...and make $600 in a day...More fun...
BUT you can also lose $1000 in a day...and now you need 2 good days to get that $1000 back AND you have to risk another $1000 to make the same play...

 

shhhh don't give away the free money secret.

Edit: You best not sell at $20k or imma reach through the internet and slap you. Wait until at least $40k a share.

 

You can day trade now. You just have to know the rules and play by them. Without a margin account and PTD status you can do 3 day trades in a 5 day period. If you do a 4th you'll be flagged as a PTD. Just pick your plays and do it a few times a week.

That said, day trading is by far the best way to loose money in the market. Make sure you set trailing stops and have a plan that you stick to. Figure out your risk/reward ratio and do not deviate from it. Be cold and calculated. As soon as you trade on emotion it's game over.

 

My solution is to make enough poor trades that I'm always under $25k in any one account. GME has been dicking with my carefully laid out plans, however.

 

Yes for sure I know I can but I don’t like to be limited to that number weekly. But thanks a bunch for the day trading advice it’s appreciated. Definitely planning on reading up before I start. My neighbor basically said it’s muscle memory for him and gut feeling. He’s been doing it since the 90’s and bought a house, jeep trackhawk, and porsche GT3 all from day trading.

 

The people that I've known who've been pretty successful with it have one industry they know extremely well, and they pick a few companies out of that industry and get to know them inside and out, to the point you can predict their price trends almost instinctively.

And as mentioned, there's zero room for emotion. Has to be treated as a full time job.

 

i was mostly swing trading...and "started" day trading in the last few weeks...ouch...

so...i've got a saying..."some lessons are more expensive than others"

still haven't won practice, but sometimes i get lucky.

 

He's the 10%. The other 90% of day traders don't make it. If you really want to try it check out this site. It's by far the best site for technical indicators and it's an unbiased no BS scientific approach to rating them. I use Donchain, VWAP, MACD, RSI, and the 50 day MA. It's the best combo I've found for giving accurate entry and exit points.

https://tradingrush.net/

 

Yup....You take your eyes off for a second and you miss the REAL dip vs the bluff dip...and you're trapped...
You can do better with the 3 day options but the premium is 2x just to buy and the profits are 1/2...so same difference...almost like everyone knows the deal

 

OK, wtf GME, you closed at 260, then after 2 hours of wondering around you come back to 260? You drunk, go home GME.