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Me with almost of half of my net worth now in a single stock

 

Annnnnd glad I kept 1 $SPCE call from the stop loss...

 

That’s what my grandparents did for their investing. They could’ve easily retired at 50. Helps that they’re accountants but still. It’s still a method that produces results.

 

Now you get it. Always hold at least one till the bitter end. If it goes tits up it's no big deal. If it goes 1000% and you don't have one left it's a very big deal. lol

 

https://twitter.com/jackcmahoney/status/1410681675944706054

 

Just give me $10/share. I’ll walk away

 

I'm looking for $18.28. That's a 1000% ROI. I'll walk away happily after that. lol

 

I’ll save 1,000 to sell at that number. But I’ll punch myself below the belt if it goes to 10 and I don’t sell and it bleeds back to 3. I just want out

 

Ok...
These past few days have been a classic example of why I set stop losses on my pharma gambles...

First $ZOM
I know I hit the gold mine with 22,000 shares of $ZOM @$0.14 but I watched it go to $2.91 and had $64,000....and then didn't set a safety net because I deviated from my plan which was $0.75 by March, $1.50 by June...It blew right through that and I was so blinded I didn't have a plan...I ended up unloading 21,000 shares with varying cost basis avg $0.19...at an avg of $1...So that was a profit of $16,889.79 418.43% But I honestly missed out on about an additional $25,000 if I had set a proper trailing stop....$ZOM is now in the $0.8x...and I fear it's so diluted it's not coming back but I'm still holding 1,000 shares...
Mind you this was the first week after I just had an epic run through the Jan 25-30 $GME sqeeze so I was distracted...But still..why are we here?

2nd let's look at $ITRM
I had 2,000 shares at an avg of $1.75....I kept getting trapped on dips and was buying the dip to get to that point.
I said the next time it's over $2 I'm setting a stop loss at $2. On 6/21 I was out on that stop loss @$2....I booked a profit of +$482.13 or 13.75%
I then watched it go up to $2.45 and thought damn...missed out...I would have set THAT stop loss at probably 10% and go out at $2.25 so i missed out on $500....But if along the way I got daring and removed the net...
I would have been NUKED after hours today back to the stone age as it's now $1.38...
Lesson there? Green is green...

3rd let's look at $CTXR...
again, Had 3,400 shares...@$1.40...Watched it climb and dip and climb and dip and said "OK...time to bank and set up the net..."
I set a 20% trailing stop when it broke $4 to get out at $3.20 on a disaster fast drop....Well it climbed to $4.22 and then fell the NEXT day and I was out for 2,900 shares at $3.63 ($10,522.25) Profit on the 2,900 +$6,448.25 or 158.28%
Now I sold Calls on the 500 remaining shares and made $250 on that already too so my 500 remaining shares are a cost basis of $2.16...So I'm still Green on those shares with a drastic drop the past few days...
Again...Take profits...

 

Ok..
Because I could not reconcile those prices/values with the data for the $20 put...It's worth maybe $2...But there's no volume so any data is just ghost $$

 

Trailing stop after it hits target. Let nature take it's course. The trick is finding out what % or $ amount to set the trail at. If I'm bullish AF I go for 20% or better.

 

So I should sell GME?

 

I thought about it today. lol

 

Gotta be green first before you can set trailing stop

 

Make sure you're looking at the "BID" or "LAST" and not "ASK"
you could set yours for sale tomorrow for $100 each...and if that's the lowest "ASK" it will quote that...but with zero bids that's not a realistic price...or sane...

 

No it doesn't. As a matter of fact if your chart trading your better off setting a trail right away for 5% or so. It locks in max loss which is what really smart investors do. I like to gamble so I skip that step 90% of the time. lol

 

as a principle...yes...
But If I throw $1K at some high volume pre-market gamble....
Set the immediate 10%...Take the $100 loss as a stupidity fine...Don't ride it into the ground "But..but...it's going green soon...I just know it..."

If I had a web cam and you hacked it around 9:45am you would see me staring at candles going "COme on you bitch...up...tick up..." trying to get a little gap to set the profitable stop...


EDIT....
YUP

 

I don't sell until it's green. I'll hodl