Talking stocks, trading, and investing in general

[modee]

I had the order in to short AMZN at 712, to go the other way. Then I got scared and cancelled it. Took 3 minutes to cancel! In the meantime, AMZN did briefly touch 712, now 705. But I guess my order did cancel anyway I did not get a fill. One's first instincts are often the best!

superdog I think I am done for the day. The market has a way of taking back what it gave you if you over trade.

[WatchingAustin]

Originally Posted by modee

I had the order in to short AMZN at 712, to go the other way. Then I got scared and cancelled it. Took 3 minutes to cancel! In the meantime, AMZN did briefly touch 712, now 705. But I guess my order did cancel anyway I did not get a fill. One's first instincts are often the best!

superdog I think I am done for the day. The market has a way of taking back what it gave you if you over trade.

I am sitting at my desk at 10AM. I would love to be done for the day! I think I need to change my profession.

[gtnator]

Originally Posted by cda555

This is going to sound silly to you guys.

I just put $100 (yes only $100) into an account to sort of play with and maybe buy a few stocks. I am a complete rookie with this, so I figured $100 isn't that much money to play with and lose. Should I read some books or something first? Is it naive to think that I can learn anything with $100?

If you've never done this before, I'd save a little more and start with an SP 500 index fund, preferably from Vanguard.



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[BNA/LION]

Great time to buy stocks, again, if you have cash on the side. I'm going shopping just like I did the last major market pullback!

Still Buy or Hold mode on HRTX...
Still like RTTR long term too...

[cda555]

Originally Posted by gtnator

If you've never done this before, I'd save a little more and start with an SP 500 index fund, preferably from Vanguard.



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Thanks for the tip. I have more, but I didn't want to risk more when learning. Looks like I need to read up first, then put more in.

[modee]

Originally Posted by WatchingAustin

I am sitting at my desk at 10AM. I would love to be done for the day! I think I need to change my profession.

It's not for everyone. For example just because I got bored (or maybe addicted to the game), I bought 100 AMZN at 700.5 about ten minutes ago. Just 100, not 1000! this time.

I put in an order to sell at 701.5 I mean that's only $100. minus both ways commission and SEC fees we're taking about $89. but still money is money. The reason I bought only 100 is I figured if it tanked I could buy a large second lot and cost average in to make the real bucks.

Anyway, next thing you know it's 699.5 Only down a hundred bucks, no big deal, but annoying. I decided against buying more shares and lowered my sell to 700.65 which means, I get out at a wash, make maybe $3. lol (maybe only $2.).

After a while it fills, but then they shoot the stock to over 702 which means that my original sell order 701.5 was fine.

But this is the way they do it - they rattle you into selling early, selling at a loss, etc. etc. By "they" I don't mean mysterious conspired forces, it's not like that. I just mean the market in general. This game is not for everyone.

If I'd had 1000 shares I would have gotten really rattled. But when I am long I still won't lower my sell order below what I paid. I don't care I'll hold a month until the stock comes back if necessary! I've been doing this long enough to trust my instincts.

Just watch, I still predict that AMZN will hit the 750s sometime between now and next earnings, which is estimated 7/28/2016. It might not happen until the very day of earnings, before the bell, but I do believe it will happen. So why don't I just buy 1000 amzn and sit around, waiting to collect $50K? because I am more of a trader with these particular stocks than a long term holder.

I do have a variety of stocks I hold long term, but lately, I've not held AMZN longer than a few months at a time. Anyway I am making money if not daily, always weekly, so I am satisfied.

[iliketime]

any one into the precious metals?

[dysondiver]

so amazon gets the vote then ?? ...

[Runnin' Rebel]

Originally Posted by cda555

This is going to sound silly to you guys.

I just put $100 (yes only $100) into an account to sort of play with and maybe buy a few stocks. I am a complete rookie with this, so I figured $100 isn't that much money to play with and lose. Should I read some books or something first? Is it naive to think that I can learn anything with $100?

That's not silly, that's how you learn things. I bought 2000 shares of McDonalds in 1991 when my daughter was born at 35.00. Hated the food but kids love it. I Loved the stock and dividends. And 2 stock splits later sold in 2013 at just under 103.00!! Glad I waited everything out 2008 till 2013. My dad told me buy stock that you like, that sells product you (child) likes and that pays a great dividend. And don't touch it and reinvest the dividends.

[GB-man]

Short the euro anyone?

[modee]

Originally Posted by GB-man

Short the euro anyone?

Interesting idea. Wish I'd seen this coming. Everyone was so sure into the close yesterday that brexit would fail.

I suppose I should have known. The forces of the universe have a way of evening things out. Would have been glorious just to buy some gold futures yesterday, or something like SPXS. (SPXS is basically a bear hedge fund that goes up when the market goes down.)

[modee]

Originally Posted by dysondiver

so amazon gets the vote then ?? ...

I bought some more at 699 see what happens. I might just take a point and then watch it again.

[modee]

Out 699.5 It'll probably insult me by going to 705 at the end of the day but oh well, can't go broke turning a profit.

[dysondiver]

sound advice

[77T]

Margin calls on Monday overseas will offer some ADR bargains. Huge program trading volume in last 2-3 minutes before close will trigger that for some uncovered positions.



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[Etschell]

As previously posted I've been long gold all year. Gotta love when a plan works out. Also been buying dust puts as well.

[brooklyndodger]

Originally Posted by Gaijin

Paul! God bless you sir! That is great news! I was planning on calling my brokerage again next week. Is there any regulation I should quote to them about moving everything into an ETF? These are ROTH IRAs that they froze and I won't sell them anyway until I'm 59 1/2. However they won't let me move anything around even within the brokerage.

If you are in the military, ex-military, or military contractor try using USAA. They don't seem to care.

[airchitect]

I'm jumping into PM. The intrinsic value never diminishes.

[brooklyndodger]

I am a beginner other than my 401k accounts. I have been investing a few thousands here and there into FB, TOO, CONE, VEC, UA, NFLX, APPL, AMZN, SCHH, and UA. They are all companies that I use or have touched my life one way or another. I hope to hold for the long term. I am just not sophisticated enough to buy and sell daily or weekly. Maybe sometime in the near future.

[jhilly8982]

Originally Posted by modee

The stock market is not rigged. .

If you know anything about market structure, order routing and quote speed you would know that it is rigged. Long term investing is fine, day trading and trying to flip ticks is just plain reckless. Unless you have an algo or are an HFT there is no way you are throwing around that much size for such little reward.

[Gaijin]

Originally Posted by brooklyndodger

If you are in the military, ex-military, or military contractor try using USAA. They don't seem to care.

I am. Thank you and I will.

[modee]

Originally Posted by jhilly8982

If you know anything about market structure, order routing and quote speed you would know that it is rigged. Long term investing is fine, day trading and trying to flip ticks is just plain reckless. Unless you have an algo or are an HFT there is no way you are throwing around that much size for such little reward.

I wish you would not say things like that which might influence other people wrongly. Saying that "Long term investing is fine, day trading and trying to flip ticks is just plain reckless." is perfectly fine to say, but the market is not "rigged." When you hear that it usually means one of the following:

(1) the person is not in the market
(2) the person has never been in the market
(3) the person has lost money in the market

In other words, it a defeatist statement of one who has failed or not attempted the market.

"Unless you have an algo or are an HFT there is no way you are throwing around that much size for such little reward." is also nonsense because that is exactly what I am doing. I associate with many others who do the same, some of whom may not have as much money in the market as I do, but believe me there are many plain folks traders with hundred thousand or million dollar accounts. These are known as "retail investors" and on a given day, there are often more retail investors pushing the stock around than institutions.

There was a time when the "robot" traders were doing more volume than the humans, but no longer. Nowadays the HFT are more involved with futures than equities. The numbers of HFT percentage wise are definitely under 50% for equities now, and were calculated as having dropped to below 50% already by 2012.

https://en.wikipedia.org/wiki/High-frequency_trading

These firms like Options House, TD Ameritrade, etc. etc. did not grow up on the backs of anything other than retail investors. You think they would survive if the average client just bought a few stocks a year? With OH I think even at 4.95 per trade I give them about ten grand a year in commissions.

I happen to have a fairly large account, but it's not even necessary for day traders. With U.S. brokerages you get 4X the trading power for day trades. With Bahamas brokerages like SureTrade, 6X. Which means that a guy with only $150K in his account may buy and sell close to a million dollars of stock at a time. No big thang.

An algo or an HFT would require tens of millions MINIMUM, not to mention the cost of the equipment.

My trading setup costs maybe twenty grand that's all. If I make $500. or $1000. a day average that adds up to a lot. My goal when I started this years ago was $500. a day. Now it is $1000. a day. $1000. is my "point spread" and I try not to walk away from the computer until I have cleared that. It doesn't always work out. Some days I actually lose money, or at least - I end up stuck in a large position and then I wait for it to come back over time. I rarely have to pull the plug at a loss, the stocks I trade are Quality and tend to come back to where I want them or higher, eventually. Other days I have made as much as close to thirty K in a day. But my average take-in is there. I have another main profession so trading stocks is a side business for me, but I take it very seriously and been doing it on and off since the very late '90s.

Sometimes when I put in a large order for say 1000 shares for a low volume stock such as CMG I get partial fills only. That implies, yes, that I am a big trader, but it doesn't mean I am the only one. Yesterday there was a fill at 190 for 30000 shares of TSLA. That could be one guy, or it could be a firm.

When I used to trade GOOGL exclusively we calculated that on some days I myself personally traded 2% of the total volume in GOOGL. How many people can say that? But it doesn't mean I am an algo or HFT. You go in and out buy and sell 1000 GOOGL enough times and it adds up to serious volume.

Take a look on youtube sometime. You'll see many videos of stock traders who post real time action of what they are doing.

Her's one small series
https://www.youtube.com/watch?v=todU...ature=youtu.be
There's this one guy who posts real time videos of him buying $50K of a stock at a time, over and over, cost averaging in more and more stock, just to try to make $100. per trade. It does add up.

https://www.youtube.com/watch?v=THjCkmKlKvw

https://www.youtube.com/watch?v=PHuYQ1GsjSQ

etc. etc. there are thousands of such live videos.

A more interesting argument would be: who makes more, a successful day trader or a long term investor? Now that is quite debatable, I would agree. In a rising market, the investor probably makes more than the successful day trader. But I made a gang of loot yesterday with the DOW down -600. Did any long term investor make money yesterday? (Unless he was short, in which case he would have lost his arse all month UNTIL yesterday.)

You sound like you have something to prove. Which is, what? If you're not involved with the stock market in this way why challenge what others are doing?

[jhilly8982]

Originally Posted by modee

You sound like you have something to prove. Which is, what? If you're not involved with the stock market in this way why challenge what others are doing?

I don't have anything to prove. You sound like you do and I could care less. I trade professionally, currently manage a proprietary options book in the $100mm range. My company is a proprietary trading firm, mostly relative value arbitrage algorithms and it is mostly capital markets, we have a small equity future business. I've been in the business along time and let me tell you this, those that say they will never get hurt, or that they know what they are doing are either lying or will blow out eventually.

[bdex75]

Anybody doing anything with currency right now? Mainly the pound or euro?


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[dysondiver]

Originally Posted by bdex75

Anybody doing anything with currency right now? Mainly the pound or euro?


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im trying to collect it , but rolex gets in the way ,,,

[bdex75]

Originally Posted by dysondiver

im trying to collect it , but rolex gets in the way ,,,

No doubt. Tudor for me. Will hopefully be collecting some bronze soon.


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[GB-man]

Originally Posted by bdex75

Anybody doing anything with currency right now? Mainly the pound or euro?


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Contemplating shorting the euro in usd terms. Can't see how this isn't awful news for the Euro. But I'm a mere rookie.

[ct.matt]

I'm wondering, how do you guys forget/get over/don't have regrets? I regret that I didn't transfer most of my euros out of Europe into my US account as it's precipitously declining. If I think about the average highs and how much more I'd have right now it makes me want to scream (at least a little). Or stocks you've held on for too long? Most of these things are beyond my control, at least what's causal. However, I wish I was smarter to react more effectively and quicker.

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[Gaijin]

Originally Posted by ct.matt

I'm wondering, how do you guys forget/get over/don't have regrets? I regret that I didn't transfer most of my euros out of Europe into my US account as it's precipitously declining. If I think about the average highs and how much more I'd have right now it makes me want to scream (at least a little). Or stocks you've held on for too long? Most of these things are beyond my control, at least what's causal. However, I wish I was smarter to react more effectively and quicker.

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I understand how you feel. I wanted to buy gold last week but didn't. I think the more we worry about money the less we have. We gotta stay positive.


I'm pretty well diversified now and when one thing goes down another seems to go up.

[iliketime]

Originally Posted by Gaijin

I understand how you feel. I wanted to buy gold last week but didn't. I think the more we worry about money the less we have. We gotta stay positive.


I'm pretty well diversified now and when one thing goes down another seems to go up.

why not some silver? that GSR favors silver at the moment. And not talking about ETFs