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Old 27 February 2020, 12:00 PM   #1450
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Join Date: May 2011
Real Name: Nick
Location: Phoenix, AZ
Posts: 744
My day trading account just went from all time high to 29% haircut within the past 5 trading sessions. 15% are realized losses after getting greedy trading SPCE and going for one last trade, and the other 14% are declines in value of positions in QQQ, VTI, ROKU, TSLA, MSFT, and PANW. My plan is to lay off the day trading, slowly add to the ETF positions (not individual stocks), ignore the markets, bag hold for however many years necessary until my positions are well in the money, and at that point start selling out of the money covered calls for premium every week to help make up for lost time.

Being relatively new to short term trading, what I'm quickly learning is true is that while it is very possible to beat the market by a wide margin, time in the market provides better peace of mind. There's a reason why successful investors like Peter Lynch, Burton Malkiel, Warren Buffet etc. advocate longer term buy and hold strategies.

Found the following article which I thought would be of interest to many on this forum: "How the stock market has performed during past viral outbreaks, as coronavirus spreads to Italy and Iran"
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