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Money Matters
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Old 02-20-2011, 10:34 AM   #841
Dcha
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Here is the first installment of my "Daily Bit of Daily Wisdom Daily" series.

If your not sure and don't have an edge, cash IS a strategy.

If you are on a cold streak, reduce size by 70% and tighten stops for a week.

Stocks aren't people, they cant be trusted, an algorithm doesn't care that you think you know the story or the chart.

Don't be "all in" in any name, you will blow up your account.

It's totally cool to change your mind right after a trade, the market changes by the minute, so should you.

Pick one strategy and stick to it. This may take time if you are a beginner.

You have to break a few eggs to make an omelet, so take losses but keep them very small.

Use your own ideas. My charts and ideas should only be used as catalysts to your own entries/exits. They can also be a learning tool.

Don't have 15 technical indicators on your screen, that's and EKG not a chart. Less is more.

Don't trade pissed off, it will crush your P&L

Guess who wins when you "revenge" trade?

Take partial profits on the way up and raise your stops.

When you have three losing trades in a row, take a walk around the block. You may get an epiphany, at the very least it's therapeutic.

Realize early that the market will always be smarter than you.
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Old 02-21-2011, 01:13 AM   #842
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Quote:
Originally Posted by Dcha View Post
Here is the first installment of my "Daily Bit of Daily Wisdom Daily" series.

If your not sure and don't have an edge, cash IS a strategy.

If you are on a cold streak, reduce size by 70% and tighten stops for a week.

Stocks aren't people, they cant be trusted, an algorithm doesn't care that you think you know the story or the chart.

Don't be "all in" in any name, you will blow up your account.

It's totally cool to change your mind right after a trade, the market changes by the minute, so should you.

Pick one strategy and stick to it. This may take time if you are a beginner.

You have to break a few eggs to make an omelet, so take losses but keep them very small.

Use your own ideas. My charts and ideas should only be used as catalysts to your own entries/exits. They can also be a learning tool.

Don't have 15 technical indicators on your screen, that's and EKG not a chart. Less is more.

Don't trade pissed off, it will crush your P&L

Guess who wins when you "revenge" trade?

Take partial profits on the way up and raise your stops.

When you have three losing trades in a row, take a walk around the block. You may get an epiphany, at the very least it's therapeutic.

Realize early that the market will always be smarter than you.
Good tips... also would add don't trade while drunk. Ask me how I know
One thing I love about trading is that you can do all your homework, stare at charts until you're blind and still lose out over something that happened in spain or greece. Sometimes I feel like a genius, other times I'm just handing money away...
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Old 02-21-2011, 10:55 AM   #843
///MR3LIGION
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Well said

Quote:
Originally Posted by Dcha View Post
Here is the first installment of my "Daily Bit of Daily Wisdom Daily" series.

If your not sure and don't have an edge, cash IS a strategy.

If you are on a cold streak, reduce size by 70% and tighten stops for a week.

Stocks aren't people, they cant be trusted, an algorithm doesn't care that you think you know the story or the chart.

Don't be "all in" in any name, you will blow up your account.

It's totally cool to change your mind right after a trade, the market changes by the minute, so should you.

Pick one strategy and stick to it. This may take time if you are a beginner.

You have to break a few eggs to make an omelet, so take losses but keep them very small.

Use your own ideas. My charts and ideas should only be used as catalysts to your own entries/exits. They can also be a learning tool.

Don't have 15 technical indicators on your screen, that's and EKG not a chart. Less is more.

Don't trade pissed off, it will crush your P&L

Guess who wins when you "revenge" trade?

Take partial profits on the way up and raise your stops.

When you have three losing trades in a row, take a walk around the block. You may get an epiphany, at the very least it's therapeutic.

Realize early that the market will always be smarter than you.
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Old 02-21-2011, 11:20 AM   #844
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protests in the middle east = no good. Oil is shooting up
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Old 02-21-2011, 12:01 PM   #845
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protests in the middle east = no good. Oil is shooting up
+5.25 by 1pm current price is 91.45
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Old 02-22-2011, 07:46 AM   #846
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protests in the middle east = no good. Oil is shooting up


my OPTIONS is takin a hit coz of this mess. ....."what a world we live in, why can't we just get along...PEOPLE!"
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Old 02-23-2011, 02:51 PM   #847
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Hey guys, I didn't know if I should dirty up this thread with my noob ass questions, but I was just wondering what you guys thought of FIAT. They are coming to the states this year. I got a chance to sit in a 500 and thought that it was a decent contender, and with fuel prices on the rise I think it can do really well here. They are also coming out with a multiport diesel engine which is supposed to be some sort of revolution in the way that people look at diesel. ( 60MPG with plenty of power)
The reason I ask is because I noticed a few weeks ago that there stock dropped by over 50%, so I picked up some shares on my practice account for a long hold. I just want to know if I just made mistake or not, thanks.
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Old 02-25-2011, 09:50 PM   #848
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Anyone

here alive?
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Old 02-26-2011, 02:30 PM   #849
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here alive?

Since oil went up no ones been on here.
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Old 02-26-2011, 03:50 PM   #850
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Since oil went up no ones been on here.
Hurry up and wait...
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Old 02-26-2011, 05:36 PM   #851
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I'm waiting for things to settle. About 3 weeks ago I started selling and taking gains. I have about 55% of my portfolio in cash. I didn't predict oil prices to take down the market, I just figured it's time to take profits and expect some kind of pull back.
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Old 02-27-2011, 01:16 PM   #852
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Was selling some volatility the middle of last week...
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Old 03-03-2011, 02:20 PM   #853
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This thread needs a bump.

I'm still bullish on TXT and bought into some GLW today
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Old 03-03-2011, 04:34 PM   #854
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I bought TXT in my practice account, and sold it. I think I got it at like $23 and sold at around $29, How much longer are you planning on holding onto it?
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Old 03-03-2011, 04:41 PM   #855
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My price target is around 35
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Old 03-03-2011, 10:04 PM   #856
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oil is juice....playing it options ~Jan12 calls.
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Old 03-04-2011, 09:31 PM   #857
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Fiat was a bust, and it may cost me my account.... gonna hold though.
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Old 03-05-2011, 11:03 AM   #858
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oil is juice....playing it options ~Jan12 calls.
Oil, your doing a fund or individual stocks.
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Old 03-06-2011, 07:37 PM   #859
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Twas a great time to get my posting privileges revoked. I've kept my cash high and been day trading things.
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Old 03-07-2011, 08:25 AM   #860
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Cool not a fund guy

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Oil, your doing a fund or individual stocks.
stocks.
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