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Michael Corleone
Mar 30, 2011

by VideoGames
Can't do anything today because I am diamond handing SNDL and IDEX and holding my one 'good' pick DRRX.

e; to be sure, diamond handing means to hold a down stock in hopes it gets better, right?

Michael Corleone fucked around with this message at 16:29 on Feb 12, 2021

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Poco
Jul 17, 2005

....I am a Tariff Man
Taking a beating on PLTR this morning. Markets are closed Monday, probably people selling before earnings call on Tuesday?

UnfurledSails
Sep 1, 2011

Poco posted:

Taking a beating on PLTR this morning. Markets are closed Monday, probably people selling before earnings call on Tuesday?

UnfurledSails posted:

Every morning toss a coin. Heads PLTR is 5% up, tails it is 5% down.

Teeter
Jul 21, 2005

Hey guys! I'm having a good time, what about you?

Michael Corleone posted:

Can't do anything today because I am diamond handing SNDL and IDEX and holding my one 'good' pick DRRX.

e; to be sure, diamond handing means to hold a down stock in hopes it gets better, right?

Diamond hands is a bullshit meme created to recruit bag holders. It means holding a stock forever, because stocks only go up.

Since there is no profit until a sale occurs, no diamond hander has ever actually made money.

That's the basics of meme language though, 💎 = hold, 🧻= sell

Teeter fucked around with this message at 16:50 on Feb 12, 2021

Uranium 235
Oct 12, 2004

Pillowpants posted:

I'm curious - How much money did you all initially throw in to start with? How much should you? What are the best success/horror stories here?
I started with crypto trading in 2017, I put in $4500 over the first month or two--mostly because I was losing money and I wanted to average down, so I went from $500 to $1000 to $1500, etc. I had no idea what I was doing and then the BTC price dumped and I was down 30% (account at $3000). I was about to quit, but I thought, "If I can lose money that fast, I could also make money that fast if I knew what I was doing! :downs:" So I decided to put some effort into learning how to day trade instead of just doing it based on my own obviously flawed intuition. I started reading stuff online and watching youtube videos about day trading and technical analysis, and found a mountain of horse poo poo and snake oil salesmen. But I did find some helpful stuff, and was able to get back to break even within a month (this was summer 2017 and the crypto market made it easy to make money quickly). I was consistently profitable for the next several months, and had tripled my money. I put in another $5500 in October for a total of $10k of my own money. In November/December, the crypto market exploded in euphoria and I fortunately had taken 2 weeks off from work, which I spent just day trading BTC, LTC, and ETH. I ended up making a LOT of money. By the time I was done with crypto trading, I had made 3000% profit.

In early 2018, the crypto bubble popped and it got much harder to trade, and I had always been concerned about the exchange getting hacked, so I drew down my account and switched to stock trading. A lot of my money went to taxes, paying off student loans, and buying an apartment in NYC.

Since then I've only traded stocks, and had mixed results the first couple years. I've been profitable every year but nothing remotely close to how I did trading crypto. I've had problems with consistency--I've had periods of amazing success followed by months where I gave a lot of my recent profit back. Last year I did great in the coronavirus crash by trading ES and NQ futures, but I didn't adapt well when the market recovered. What had worked went things were dropping straight down didn't work when the market climbed back up. In the last third of the year I had figured out what would work for me and cut out the stuff that didn't, and began seeing consistency again. Ended up making about 102% on the year, and have done very well so far this year--up 43% on the year as of this morning.

My goal now is to just focus on consistency and to be quicker to adapt when the market changes. I think I've learned my lesson about that, but we'll have to see the market shift again before I'll know for sure.

Space Fish
Oct 14, 2008

The original Big Tuna.


Poco posted:

Taking a beating on PLTR this morning. Markets are closed Monday, probably people selling before earnings call on Tuesday?

The market is giving PLTR the classic three-act story structure treatment. People analyze PLTR and find good news, only to deny it. Then, when it looks like PLTR has climbed up a tree to safety, the market throws rocks at it. PLTR hasn't entered the third act yet where its stock balloons and everyone labels it The Chosen One.

...but seriously, what kind of financial negging is going on that PLTR keeps securing contracts and showing off a perfectly fine product/service and the market's reaction of late is, "who tf would want THAT?"

Uranium 235
Oct 12, 2004

Zerstorung posted:

I use it to some degree for volatility plays.

This could just be me in my own head, but my understanding is that volatility is a product of the fact that we only get selective public information about companies, and the interconnected nature of the market (e.g. people selling off Doge to buy Weed Stocks, people selling Weed Stocks to buy SPACs).

A company is obviously worth 'something' (NPV/perpetuity, etc), but rather than us knowing what that value is and the price being exactly there, it fluctuates in a range roughly approximating that predicted value.

Basically, for a company that's just operating at baseline and doesn't have any major catalysts current or upcoming, I expect the 'root' value to be roughly static, leaving the waveform of arbitrary buying and selling as just noise.

Obviously it's bullshit because the market can do whatever the gently caress it wants, but I think of it like playing blackjack during a trough, and playing roulette during a peak. The odds are marginally different enough to impact short-term investment decisions.

E: Just talking about waveform though, none of that "look at this pretty pattern the chart drew that means it's going up" horseshit.
Yeah drawing lines on charts and expecting them to tell you what will happen is a bad idea, but charts do give you useful information about what other market participants are doing. You have price, volume, and time. You know where other people are buying and selling, you know where supply starts to outweigh demand, and vice versa. You can guess where other traders might stop out, or might buy in. You can't predict what they will do but you can at least think about what might be more likely to happen than not. Like, if a stock keeps finding support at $100, and the price drops from $110 back to $100.50, why not buy and risk $0.50 if it finally drops through the support? You're risking half a dollar per share and you might make at least a few dollars if buyers step in again at $100. There's no guarantee you'll be right, but if you're only right 30% of the time you make that kind of trade, you'll still make money in the long run. If you risk half a dollar to make three, you'd need to be wrong more than 85% of the time to lose money.

Uranium 235 fucked around with this message at 17:11 on Feb 12, 2021

BurntCornMuffin
Jan 9, 2009


What the gently caress is going on with LORL? It's gone from failing to meet listing requirements and multiple news articles about ongoing investigations a month ago (which convinced me not to buy) to steadily growing to double the price in the past couple weeks.

Uranium 235
Oct 12, 2004

BurntCornMuffin posted:

What the gently caress is going on with LORL? It's gone from failing to meet listing requirements and multiple news articles about ongoing investigations a month ago (which convinced me not to buy) to steadily growing to double the price in the past couple weeks.
idk but the volume and liquidity on that stock is so low that I would never trade it unless there's a major catalyst that brings in a lot of volume

punk rebel ecks
Dec 11, 2010

A shitty post? This calls for a dance of deduction.
Some good stuff Uranium 235.

Mederlock
Jun 23, 2012

You won't recognize Canada when I'm through with it
Grimey Drawer
Hey folks, What's the best live stock price tracker for us Poor's who don't want to pay (much) for it?

jokes
Dec 20, 2012

Uh... Kupo?

Mederlock posted:

Hey folks, What's the best live stock price tracker for us Poor's who don't want to pay (much) for it?

Same as everyone else. Yahoo finance is good!

Jalumibnkrayal
Apr 16, 2008

Ramrod XTreme

Space Fish posted:

...but seriously, what kind of financial negging is going on that PLTR keeps securing contracts and showing off a perfectly fine product/service and the market's reaction of late is, "who tf would want THAT?"

Personally I'm going to buy it when the insider lockout ends this month or next.

Mad Wack
Mar 27, 2008

"The faster you use your cooldowns, the faster you can use them again"

Mederlock posted:

Hey folks, What's the best live stock price tracker for us Poor's who don't want to pay (much) for it?

investing.com is good too

Gone Fashing
Aug 4, 2004

KEEP POSTIN
I'M STILL LAFFIN
i just keep tradingview.com open in a tab

punk rebel ecks
Dec 11, 2010

A shitty post? This calls for a dance of deduction.
The next meme stock is here!

Uranium 235
Oct 12, 2004

Gone Fashing posted:

i just keep tradingview.com open in a tab
same, i pay for the pro version of tradingview though and also pay for some of their data (NYSE, NASDAQ, ARCA subscriptions)

DoubleT2172
Sep 24, 2007


Imagine investing in a porn company that won't even let you see butthole

Frequent Handies
Nov 26, 2006

      :yum:

DoubleT2172 posted:

Imagine investing in a porn company that won't even let you see butthole

And is getting into sex toy brick & mortar in TYOOL 2021

Quetzadilla
Jun 6, 2005

A PARTICULARLY GHOULISH SHITPOSTER FOR NEOLIBERLISM AND THE DEMOCRATIC PARTY

DoubleT2172 posted:

Imagine investing in a porn company that won't even let you see butthole

The Cats movie grossed 100m at the box office with the butthole-less edit. It lost about that much so set the PLBY target at ahout half the launch price and you're good. Rigorous TA happening over here.

Mederlock
Jun 23, 2012

You won't recognize Canada when I'm through with it
Grimey Drawer

Quetzadilla posted:

The Cats movie grossed 100m at the box office with the butthole-less edit. It lost about that much so set the PLBY target at ahout half the launch price and you're good. Rigorous TA happening over here.

That's a really hardcore take

Axel Serenity
Sep 27, 2002
Unironically buying two (2) shares of the bunny

The Anime Liker
Aug 8, 2009

by VideoGames
My diamond hands are strong on NDRA, SNDL, THCX, MJ, AGTC, and my 1 share of NOK.

Hold fast, goons.

Michael Corleone
Mar 30, 2011

by VideoGames
I only started 'trading' last Wednesday. I am up and will be if I close out of SNDL over like 2.05 I'm in at 2.90, planning to hold over the 3 day weekend because I don't think it can go much lower, has support all over the place and may not go below 2. If I cash out at 2.05 I am even on SNDL overall. Any advice, and thanks you guys are really cool here, and know stuff!
m

Kunabomber
Oct 1, 2002


Pillbug

a Loving Dog posted:

SNDL why u do this to me

selling covered calls on this stock was the best thing i've done this week, you just gotta break your brain outta the DIAMOND HANDS GONNA MOON mentality and be OK with 'missing out' on 'potential gains' if the stock spikes above your contract

DoubleT2172
Sep 24, 2007

Kunabomber posted:

selling covered calls on this stock was the best thing i've done this week, you just gotta break your brain outta the DIAMOND HANDS GONNA MOON mentality and be OK with 'missing out' on 'potential gains' if the stock spikes above your contract

Agreed on this. Was an idiot and bought very high, sold 5 CC $ 4.50 strike a month out and used the proceeds to buy 100 more shares to get my average cost down.

Kunabomber
Oct 1, 2002


Pillbug
felt kinda weird using options to mitigate risk vs. just using it for straight gambling, tho

MrOnBicycle
Jan 18, 2008
Wait wat?

Kunabomber posted:

selling covered calls on this stock was the best thing i've done this week, you just gotta break your brain outta the DIAMOND HANDS GONNA MOON mentality and be OK with 'missing out' on 'potential gains' if the stock spikes above your contract

Finding a % gain that I am content with is harder than I thought. I mean any gain is good, but a low gain is bad as the money could have been invested elsewhere and make more money. I guess I should decide on a stock to stock basis.

Red
Apr 15, 2003

Yeah, great at getting us into Wawa.
CHFS is having a nice day

Red fucked around with this message at 18:30 on Feb 12, 2021

jokes
Dec 20, 2012

Uh... Kupo?

MrOnBicycle posted:

Finding a % gain that I am content with is harder than I thought. I mean any gain is good, but a low gain is bad as the money could have been invested elsewhere and make more money. I guess I should decide on a stock to stock basis.

An overall exit strategy to avoid holding anything too long is a good idea. Like if an option ever gets me or loses me 20% I close it. Any time I broke this rule I lost money.

AHH F/UGH
May 25, 2002


Playboy was a genuinely good magazine with some really famous writing and tiddies, not sure why they would ever dump it considering it was the most popular and probably only profitable magazine in the country and was kind of the entire brand identity.

Uranium 235
Oct 12, 2004

BNGO looks interesting

disclosure: i am long BNGO from 12.40 as of this morning

edit: also fwiw I will probably not hold anything overnight, since I usually don't swing trade. But if it closes over $14 then I might take profit on most and swing a small position over the weekend

Uranium 235 fucked around with this message at 18:32 on Feb 12, 2021

Axel Serenity
Sep 27, 2002

AHH F/UGH posted:

Playboy was a genuinely good magazine with some really famous writing and tiddies, not sure why they would ever dump it considering it was the most popular and probably only profitable magazine in the country and was kind of the entire brand identity.

Physical media is hard to translate to digital and just isn't worth what it used to be. Don't forget that News Corp. acquired the entirety of National Geographic, probably the most famous magazine in the world, for around $725M and even then only because it was packaged with the cable network and other media. To me, that sounded very low, but it is what it is.

That said, Playboy has always had a lot going for it through the licensing of the rabbit. It's an iconic logo. Who knows if the brand is worth the $12.30 a share it's at right now, but I'm glad it's still around either way.

bigdookie
Nov 21, 2005
The Awesome!
Grimey Drawer

AHH F/UGH posted:

Playboy was a genuinely good magazine with some really famous writing and tiddies, not sure why they would ever dump it considering it was the most popular and probably only profitable magazine in the country and was kind of the entire brand identity.

Because those crusty mags that were bought for the 'articles' are going to be buried with the Boomers IMHO. Online subscription for just the articles and a few tasteful titty pics probably has a super limited demographic these days with great free articles elsewhere, and smut on a massive scale to suit any tastes found for free.

They are building some sort of brand and branching out, pulling an MTV (lol remember music videos you had to wait for) and who knows if it will work.

I'm personally not interested in the stock, I just don't see a limitless growth like the CEO states. What they branch out and have a Playboy tasteful streaming service? Lotions and sex toys with a playboy logo? It might work, but its already a super crowded field. I just think its going to be a bunch of products rebranded with the Playboy logo slapped on top.

Uranium 235
Oct 12, 2004

bigdookie posted:

Because those crusty mags that were bought for the 'articles' are going to be buried with the Boomers IMHO. Online subscription for just the articles and a few tasteful titty pics probably has a super limited demographic these days with great free articles elsewhere, and smut on a massive scale to suit any tastes found for free.

They are building some sort of brand and branching out, pulling an MTV (lol remember music videos you had to wait for) and who knows if it will work.

I'm personally not interested in the stock, I just don't see a limitless growth like the CEO states. What they branch out and have a Playboy tasteful streaming service? Lotions and sex toys with a playboy logo? It might work, but its already a super crowded field. I just think its going to be a bunch of products rebranded with the Playboy logo slapped on top.
they should just make a business out of doing deepfake porn or something equally depraved

nah randos on the internet will beat them at that too

Gone Fashing
Aug 4, 2004

KEEP POSTIN
I'M STILL LAFFIN
you guys just don't understand the potential of playboy radio

MrOnBicycle
Jan 18, 2008
Wait wat?

jokes posted:

An overall exit strategy to avoid holding anything too long is a good idea. Like if an option ever gets me or loses me 20% I close it. Any time I broke this rule I lost money.

Yeah I guess consistency is what earns money more than "that one stock that is going to skyrocket and make me rich".

Owlspiracy
Nov 4, 2020


TSLA is going to break $1k isnti t :(

Owlspiracy fucked around with this message at 18:48 on Feb 12, 2021

jokes
Dec 20, 2012

Uh... Kupo?

Investing in Playboy is all about DD(s).

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Axel Serenity
Sep 27, 2002
I could see them doing well if they positioned themselves as a competitor to PINK. Whether PB can do that, who knows? It could work making a nice line of bunny-branded sweatpants or it could blow up in flames and mismanagement.

Apparently they're huge in China and have like 1,000 physical stores there.

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